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ЛОНДОН: Private equity firm CVC Capital Partners confirmed on Tuesday that investors Waddell & Reed , Norges Bank and BlackRock had paid $1.6 billion in cash for a 21 percent stake in the Formula One motor racing business. “We look forward to working with our new partners over the coming years,” said Donald Mackenzie, a managing partner at CVC, calling the investment great news for Formula 1. CVC, which had owned 63.4 percent of the business, said it would continue to be Formula 1′s largest and controlling shareholder.
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CHICAGO: NATO set an “irreversible” course out of Afghanistan on Monday but President Barack Obama admitted the Western alliance’s plan to end the deeply unpopular war in 2014 was fraught with peril. A landmark NATO summit in Chicago endorsed an exit strategy that calls for handing control of Afghanistan to its own security forces by the middle of next year but left questions unanswered about how to prevent a slide into chaos and a Taliban resurgence after allied troops are gone. The two-day meeting of the 28-nation military bloc marked a major milestone in a war sparked by the September 11 attacks that has spanned three U.S.
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BEIRUT: Syrian rebels kidnapped at least 13 Lebanese Shi’ite men on Tuesday in the northern Syrian city of Aleppo as they were returning home from a pilgrimage in Iran, families of the men said.
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Мумбай: The rupee hit a record low to the dollar for the fifth straight session on Tuesday, weighed down by large dollar demand from oil firms and weak global risk sentiment, especially after Fitch downgraded Japan’s ratings. The falls came even after the Reserve Bank of India (RBI) announced on Monday measures to target arbitrage and speculation in futures and options markets, with traders saying this market segment was too small to have a big impact. The RBI has announced a string of measures to curb the rupee’s falls, none of which has so far succeeded.
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KABUL: People in Afghanistan were surprisingly optimistic on Tuesday about NATO’s plan to pull combat troops out of their war-ravaged nation by the end of 2014, but warned Western leaders to stick to aid and security promises. A Chicago summit meeting of the 28-member bloc, attended also by Afghan President Hamid Karzai and other world leaders, endorsed an exit strategy on Monday that calls for handing control of Afghanistan to its own security forces by the middle of next year.
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GENEVA: Myanmar opposition leader Aung San Suu Kyi will address an International Labour Organization conference in Geneva next month during her first trip outside Myanmar in 24 years, the ILO said on Tuesday. Suu Kyi will give a speech on the final day of the ILO conference on June 14. “Aung San Suu Kyi will be addressing the conference,” said ILO director general Juan Somavia, adding that it will be the first time Suu Kyi “will speak internationally” since she was released from house arrest in 2010
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Staff Report HYDERABAD: Jeay Sindh Qaumi Mohaz (JSMQ) has called for a peaceful strike across Sindh on Wednesday against the murder of a party leader. His call came hours after JSQM’s missing leader Muzaffar Bhutto was found dead on Hatri Bypass in Hyderabad. His dead body was later identified by his heirs.
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According to Sindh Jewellers Association, one tola gold price decreased by Rs 100 to close at Rs 55,400, while 10-gram gold price reduced by Rs 86 to reach Rs 47,485.
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The England and Wales Cricket Board (ECB) on Tuesday revealed the itinerary for England s winter tour to India that will include four Tests, five one-day internationals and two Twenty20s. England will leave on October 25 for a three-day training camp in Dubai before heading to India four days later, with the first Test beginning on November 15 in Ahmedabad.
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Turkish Prime Minister Recep Tayyip Erdogan, in efforts to mend ties between Pakistan’s ruling government and the opposition, has decided to hold a meeting with Pakistan Muslim League (PML-N) chief Nawaz Sharif on Tuesday. “I will try to understand his perspective on the matter at hand.” Recalling the solidarity and cooperation which the government and the Opposition had when he last visited the country four years back, Erdogan said that he wished to see the same cooperation back at home
