Riyadh, August 23, 2010: Saudi low-cost private airline Sama said it will suspend all operations as for Tuesday until further notice, with Saudi press reports citing heavy financial losses.

Sama CEO Bruce Ashby the decision was taken only after the board failed to find an alternative to avoid the suspension. The company said it will accommodate passengers who had bookings for Tuesday on other airlines.

"Sama had been awaiting a significant aviation relief package with respect to fuel subsidies, subsidies for Public Service Obligation (PSO) routes, a gradual lifting of domestic fare caps, and additional funds to support the past losses and growth of our business," a statement by the Saudi airline said.

New York, August 12 2010: The global youth unemployment rate is at a record high and is expected to climb even higher as the year progresses, the United Nations International Labour Organization announced today. According to a new report, of the world’s 620 million economically active youth between the ages of 15 and 24, 81 million were out of work at the end of 2009, the highest number ever. The youth unemployment rate climbed from 11.9 per cent in 2007 to 13 per cent in 2009.

Such trends, the report noted, will have “significant consequences for young people as upcoming cohorts of new entrants join the ranks of the already unemployed.” ILO warned of a possible ‘lost generation’ of young people dropping out of the labour market, “having lost all hope of being able to work for a decent living.” The agency forecasts that the youth unemployment will reach 13.1 per cent this year before declining to 12.7 per cent, cautioning that youth unemployment rates have been more sensitive to the global economic downturn than those of adults.

Karachi, July 07: Number of blasphemy incidents and ban on many internet based organisations such as YouTube, Facebook etc, opened a new debate in Pakistan that whether to restrict such organisation to open their offices in Pakistan, holding them accountable under Pakistani laws?

Karachi, July 06 2010: The KSE 100 Index will be closing at negative today, thanks to the Capital Gain tax. The Capital gain tax committee will hold its sessions during the week to make up the rules and regulations for the market. The suggestions from the members of the KSE include the imposition of Rs 5 million limit for the small traders in the market, in order to encourage more small traders to roll-in the stock markets in Pakistan.