WASHINGTON: The International Monetary Fund (IMF) has said that the global economic slowdown has unleashed losses amounting to $4.54 trillion to the capital market all across the world. IMF Global Financial Stability Report issued here said that it has been prepared keeping in view the period over mid 2007 to 2010. The report said that the American region suffered losses amounting to $2.712 trillion, while EU countries $1.193 trillion and Japan incurred losses $149 billion. IMF said that even if urgent action is taken to clean up the banking system, the process would be “slow and painful”, delaying economic recovery.

LONDON: British police said on Wednesday they would bring no charges against 12 men seized in raids to foil a suspected al Qaeda plot.The men, 11 Pakistanis and one Briton, were arrested around northwest England on April 8 as part of an operation against what Prime Minister Gordon Brown called at the time a "very big terrorist plot".Police said all the suspects, aged between 22 and 38, had been released although 11 had been handed over to immigration officials and face deportation on national security grounds.Prosecutors said there was insufficient evidence to justify holding them any longer or bringing charges, police said.

ISLAMABAD: Interior Advisor Rehman Malik while giving policy statement in Senate said there is no military operation underway in Balochistan.He said measures should be taken to resolve the problems of Baloch brethren. The government has eliminated all the check posts of FC in Balochistan and mulling to restore Sardari nizam. Everyone in Balochistan demands his share.Malik said he is constantly in touch with Akbar Bugti’s sons and President Zardari met with Baloch leaders more than five times.Senator Muhabbat Khan Muri during interior advisor speech said Balcohistan’s situation needed to be tackle in a different manner whereas PML-N leader Raja Zafarul Haq criticized the behavior of interior minister.

DUBAI: Australia have won the toss and elected to bat against Pakistan in the first One-day International of the five-match series here on Wednesday.With this match, 75 th between Pakistan and Australia, the Dubai Sports City Stadium has become the 172nd venue to host an ODI. Pakistan and Australia are playing each other in a One-day International for the first time since February 2005 and the series, earlier scheduled to be held in Pakistan, is being played at a neutral venue of the United Arab Emirates due to security reasons.Teams for today’s match:Australia: Michael Clarke (captain), Brad Haddin (wk), Shaun Marsh, Andrew Symonds, Callum Ferguson, Shane Watson, James Hopes, Nathan Hauritz, Nathan Bracken, Stuart Clark, Ben HilfenhausPakistan: Salman Butt, Nasir Jamshed, Younis Khan (captain), Misbah-ul-Haq, Shoaib MAlik, Kamran Akmal (wk), Shahid Afridi, Shoaib Akhtar, Umar Gul, Rao Iftikhar Anjum, Saeed Ajmal.