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By Tomasz Janowski LAHORE, Pakistan (Reuters) - Pakistan's new leadership expects first results of its planned steps to shore up its finances and ease a power crisis in two or three months and only then should decide whether and on what terms to seek an IMF bailout, a senior policy adviser said on Friday. Most economists, lenders and rating agencies say that the nation's finances have reached such a critical stage that a deal with the International Monetary Fund will be necessary and the sooner it comes the better. ...

MUMBAI (Reuters) - The founder of real estate company Puravankara Projects Ltd got bids worth 1.7 billion rupees by selling shares to meet the market regulator's requirement of having at least 25 percent public shareholding. By 3.30 p.m. (1000 GMT), the single-day sale to investors had received bids for 20.6 million shares at an average price of 81.52 rupees each, provisional data from the Bombay Stock Exchange showed on Friday. Ravi Puravankara, the company's founder, was selling a 6.62 percent stake, or 14.1 million shares, in the company at a floor price of 81 rupees each. ...

NEW DELHI (Reuters) - India has made "tremendous progress" in reducing oil imports from Iran, a senior U.S. government official said on Friday, in a sign the South Asian nation is likely to get a third waiver from sanctions imposed by Washington against Tehran's nuclear programme. "All of the data is certainly pointing in a positive direction," U.S. Under Secretary for Political Affairs Wendy Sherman told reporters when asked about a possible waiver to India. U.S. ...

KABUL (Reuters) - Several large explosions rocked a busy area in the centre of the Afghan capital, Kabul, on Friday with Reuters witnesses describing shooting in the area. There were at least four blasts interspersed by heavy shooting, a Reuters witness said. The first blast was a suicide car bomb and occurred at about 4 p.m. (1130 GMT) near an intersection in the district of Borj-e Sharahah, said Hashmatullah Stanikzai, a spokesman for the Kabul police chief. A Reuters witness described seeing two wounded policemen, though there was no official word on casualties. ...

By Rhys Jones and Kate Holton LONDON (Reuters) - A British Airways plane with 80 people on board made an emergency landing at London's Heathrow airport on Friday after the right engine burst into flames shortly after take-off and the casing ripped away from the left. The British carrier, part of IAG , said all 75 passengers and five crew members were safe after having been evacuated from the aircraft down emergency chutes on landing. Video footage taken on board the plane as it came into land revealed the silver internal components of the engine. ...

MADRID (Reuters) - Despite its world-class museums, good climate and arguably Europe's best nightlife, Spain's capital, located right in the centre of the country, is often overlooked in favour of its beachside sister, Barcelona. But the fact Madrid is a better-kept secret from the EasyJet crowds is something to celebrate as the city has steered clear of tourist tat and the British pubs of the sun-soaked coasts to hold onto its unique charms that once delighted Ernest Hemingway and friends. Reuters correspondents with local knowledge help visitors get the most out of a weekend trip to the ...

By Matt Spetalnick and Warren Strobel WASHINGTON (Reuters) - Twelve years after the "war on terror" began, President Barack Obama wants to pull the United States back from some of the most controversial aspects of its global fight against Islamist militants. In a major policy speech on Thursday, Obama narrowed the scope of the targeted-killing drone campaign against al Qaeda and its allies and took steps toward closing the Guantanamo Bay military prison in Cuba. He acknowledged the past use of "torture" in U.S. ...

By Julien Pretot PARIS (Reuters) - Defending French Open champion Rafael Nadal was drawn in the same half as world number one Novak Djokovic on Friday as the Spanish claycourt machine chases a record eighth title at Roland Garros. Third seed Nadal, who beat Djokovic in last year's final, could face the Serbian in the semis. "But is not in the first round, no?," Nadal joked when asked how he felt about his potential meeting with Djokovic in a news conference. Nadal has won five titles on clay this season after missing out on more than seven months of tennis, sitting out of Wimbledon, the U.S. ...

TEL AVIV (Reuters) - Israeli and Palestinian leaders are nearing crunch time, when they must decide whether to revive long-dormant peace negotiations to end their decades-old conflict, U.S. Secretary of State John Kerry said on Friday. Speaking to reporters after two days of meetings, Kerry said he had had "very productive" talks with the two sides and urged them to avoid taking any actions that would jeopardize his shuttle diplomacy. ...

By Richard Hubbard LONDON (Reuters) - World share markets looked vulnerable to further falls on Friday, with brighter economic news from Europe doing little to encourage investors who are worried that central bank stimulus may be curtailed. MSCI's world equity index, which shed 1.4 percent for its second biggest daily loss of the year on Thursday, was virtually unchanged, with losses in Europe cancelling out a rise of nearly one percent in Japan's turbulent Nikkei. U.S. ...

By Zorianna Kit LOS ANGELES (Reuters) - WikiLeaks founder Julian Assange may claim to be a champion of transparency, but when an Oscar-winning filmmaker wanted to shine a light on his rise to fame after publishing secret U.S. diplomatic cables on his website, Assange was none too pleased. Alex Gibney set out to uncover the story behind Assange, 41, and the website he founded in 2006 to leak classified information submitted by anonymous sources, but received little cooperation from the former computer hacker. ...

By Subhadip Sircar MUMBAI (Reuters) - The rupee weakened on Friday, falling 1.3 percent for the week, extending its losing streak to a third successive week, hurt by concerns about a possible pullback in global fund flows and the country's external deficit. The rupee found support from the central bank's plan to ease hedging rules for exporters and importers, a move which is expected to increase supply of dollars. Dealers also cited some dollar selling by foreign banks related to Unilever's open offer for its Indian unit. ...

By Terril Yue Jones and Sui-Lee Wee BEIJING (Reuters) - A North Korean envoy told China's president on Friday that his reclusive country was willing to take "positive actions" to ensure peace and stability on the Korean peninsula, as China steps up diplomatic efforts to bring Pyongyang back to talks. Choe Ryong-hae, a special envoy of North Korean leader Kim Jong-un, met Chinese officials, including President Xi Jinping, in the highest-ranking visit by an official from Pyongyang in about six months. ...

New Delhi, May 24 (IANS) India does not depend on short-term borrowings from the US and if the US withdraws its stimulus packages, it will not impact capital inflows in India, Planning Commission Deputy Chairman Montek Singh Ahluwalia said here Friday.

London, May 24 (IANS) A British teacher who spent two years trying to seduce a male pupil less than half her age has been banned from every school in the country.

Mumbai, May 24 (IANS) Filmmaker Anil Sharma, whose "Singh Sahab The Great" is almost ready, says the Sunny Deol starrer is slated for Oct 11 release, two days before Dussehra.

New Delhi, May 24 (IANS) The National Human Rights Commission (NHRC) Friday sought a report from Uttar Pradesh Police over five women being assaulted in Lalitpur district.

Hyderabad/New Delhi, May 24 (IANS) Another bookie was arrested Friday in the Indian Premier League (IPL) spot fixing scandal from Hyderabad, Delhi Police sources said.

London, May 24 (IANS) Children accessing pornography are more likely to have sex at a younger age and engage in "risky behaviours", a British report has warned.

Mumbai, May 24 (IANS) For her role of a schoolgirl in "Raanjhanaa", Sonam Kapoor took inspiration from Jaya Bachchan's popular character in hit movie "Guddi", which too revolved around a schoolgoing teenager.

Film: "Karimedu"; Cast: Pooja Gandhi, Raghu Mukherjee, Makarand Deshpande, Ravi Kale, Ravi Shankar, Nisha Kothari, Muni, Karisubbu, Yathiraj and Jaidev; Director: Srinivasaraju; Rating: ***1/2

Beijing, May 24 (IANS) As many as nine people, including three children, died in a fire that broke out in China's Guangdong province early Friday, fire authorities said.

Hull (England), May 24 (IANS) India's Dipika Pallikal fought hard before losing to local hope Laura Massaro in the pre-quarterfinals of the Allam British Open Squash Championships here.

Mumbai, May 24 (IANS) Expressing her grief over spot fixing in the Indian Premier League (IPL), singer-actress Sophie Choudry, a cricket fan, says it is "heartbreaking" to see such "criminal activity".

London, May 24 (IANS) Two prison vans, one of them carrying a self-admitted cop-killer to Britain's Preston Crown Court, crashed Friday, leaving four officers and a prisoner writhing in pain.

Panaji, May 24 (IANS) Holding a fig leaf to protect its shrinking identity, Goa wants to roll out a red carpet for a Rs.25,000 crore investment it needs to set its industrial ambitions in order.