Pagination not working with WP_QUERY

You are most probably not doing this on a static front page, so your paged parameter is using wrong values. Static front pages uses get_query_var( 'page' ) to calculate pagination, all other pages uses get_query_var( 'paged' )

You need to also set the $max_pages parameter in next_posts_link. Without that, your links won`t display

<p class="older"><?php next_posts_link(__('&laquo; Older Entries', 'abdtrans')) ?></p>

should be 

<p class="older"><?php next_posts_link(__('&laquo; Older Entries', 'abdtrans'), $blogquery->max_num_pages) ?></p>

Just a final note, you should never ever revert to query_posts. It breaks more stuff than it “fixes”

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