Saturday 21 December 2013

Dunya TV

Dunya TV

Karachi: Cylinder explosion kills balloon vendor, injures another

Posted:

KARACHI (Web Desk) – A gas cylinder explosion outside a shop near Ayesha Manzil in Karachi on Saturday killed a balloon vendor and injured another.The injured person has been identified as Abbas.The blast reportedly took place at the inauguration of an electronics shop. The blast was caused by a gas cylinder used to fill balloons.The noise caused by the blast was heard in adjoining areas.

Child killed, 31 injures as bus plunges into ravine in Muree

Posted:

MURREE (Dunya News) – A child was killed and 25 others were injured when a passenger bus plunged into a ravine in Murree on Saturday.As per details, a bus carrying families of Lahore plunged into ravine near Tarait, killing a child and wounding 25 people.31 injured have been shifted to PIMS in Islamabad while 3 others are admitted in a private hospital at Bharakahu.

Tayyip Erdogan to reach Pakistan on Monday

Posted:

ISLAMABAD (Web Desk) - Turkish Prime Minister Recep Tayyip Erdogan is scheduled to reach Pakistan on a two-day official visit for talks with Prime Minister Nawaz Sharif on ways and means to strengthen bilateral ties and enhance cooperation in various fields.The Turkish PM will land in Lahore on Monday and move to Raiwind after attending a cultural event at Aitchison College. The Turkish Prime Minister will lead a delegation comprising ministers‚ businessmen and entrepreneurs to explore the investment avenues in diverse fields in Pakistan.Prime Minister Muhammad Nawaz Sharif will host a luncheon in honour of the visiting dignitary at Raiwind that would follow a Business Forum and signing of MoUs between both the countries in Lahore. The Turkish Prime Minister is leading a delegation comprising ministers‚ businessmen and entrepreneurs to explore the investment avenues in diverse fields in Pakistan.The Turkish Prime Minister would move to Islamabad on Tuesday and meet with Prime Minister Nawaz Sharif. The meeting will be followed by delegation level talks.President Mamnoon Hussain will also host a luncheon for the Turkish Prime Minister.The Turkish PM would move to Islamabad on Tuesday and meet with Prime Minister Nawaz Sharif. The meeting will be followed by delegation level talks.President Mamnoon Hussain wil alsol host a luncheon for the Turkish Prime Minister.

Misbah concerned over death bowling in Sri Lanka series

Posted:

SHARJAH (AFP) - Pakistan captain Misbah-ul Haq urged his bowlers to improve their death bowling in the third one-day against Sri Lanka in Sharjah on Sunday.Pakistan failed to defend a big 285-run target as Sri Lankas batsmen benefited from sloppy end overs bowling to win the second one-day by two wickets in Dubai on Friday, levelling the five-match series 1-1.Even in Pakistans narrow 11-run win in the first game in Sharjah on Wednesday, Sri Lankan tail-enders cashed in on some poor end overs bowling and nearly chased down a daunting 323-run target.Misbah said Pakistan were missing the experience of Mohammad Irfan and Umar Gul -- both out of the tour due to injuries. Death bowling is an issue for us, we need to address that if we want to win the series, said Misbah after Fridays game.Our fast bowling is not experienced and we are missing the experience of Irfan who had been doing well and also missing Gul.Later Saturday Pakistan Cricket Board (PCB) announced Gul will join the one-day squad as a cover for fellow paceman Junaid Khan who is struggling with fitness.Gul will join the squad on Sunday as cover, said PCB spokesman.Gul has not played international cricket since a one-day in South Africa in March this year before he underwent knee surgery. He was not selected for the Sri Lanka one-day series but regained fitness and impressed with his form in domestic matches back home.On Friday, Sri Lanka needed a tough 85 in the last 10 overs when paceman Sohail Tanvir conceded 19 in one over, while Angelo Mathews (47) and Nuwan Kulasekara (32) upped the tempo in the last overs.Sri Lanka needed 16 off the last two overs and four off the final when Sachithra Senanayake hit a boundary to seal the win.Misbah said he was happy with the batting, led by opener Ahmed Shehzads career best 124. I think our biggest problem used to be batting but I am really happy the way the batting is going, said Misbah.Sri Lankan captain Angelo Mathews praised a good team effort. We had to work very hard for this win, said Mathews. Everyone contributed in bits and pieces.Mathews said the series would be close and tough for both the teams. We hope to win the series but it will be an exciting one... With Pakistan you have to fight all the time and need to be positive -- we cant give them a chance as they can knock us down so we have to be on our guards and be positive and thats what we did, said Mathews.The last two matches will be played in Abu Dhabi on Wednesday and Friday.

Fuel queues in Sudan over South's oil flow

Posted:

KHARTOUM (AFP) - Dozens of buses queued for fuel Saturday at Khartoum-area petrol stations but an oil ministry official said there was no connection with fighting in the oil fields of South Sudan.Between 35 to 50 minibuses, which move passengers throughout the Sudanese capital, were seen lined up to buy diesel. I have been here with my bus for three hours waiting to get fuel, bus driver Ahmed Omer told AFP.Another, Omar Abbas, said he drove to five petrol stations until he finally found one where he could buy diesel. Now Ive been waiting for an hour, and Ive got more waiting ahead of me, he said.Petrol station staff said they had not received their regular supply of diesel. We got only half of it, said a worker at one Khartoum station. We dont know why. At another outlet, an employee said none of the allotment had arrived.Both workers declined to be named. The shortage was only temporary and had absolutely no connection with fighting by rival army factions in neighbouring South Sudan, Hisham Taj Elsir, general manager of supply and petroleum trade at Sudans oil ministry, told AFP.We have enough supply. No problem, Elsir said, blaming the distribution company which on Friday withdrew only one-third of the 1,800 tonnes allocated for Saturdays consumption.Customers who heard about a shortage and tried to hoard fuel added to the problem, he said.Sudans Information Minister Ahmed Bilal Osman on Friday expressed concern over the fate of economically vital oil flows from South Sudan as fighting between rival army factions spreads there.Definitely one of the targets of the two powers, will (be to) try to take over the oil fields, perhaps as a way to improve their bargaining position, he told AFP.But so far, there is no effect on oil moving through Sudan, Osman said.Sudans cash-starved economy is to receive an estimated $1.5 billion (1.1 billion euros) in fees from South Sudan next year for moving crude through northern pipelines for export.Elsir said all the South Sudanese oil passing through Sudans infrastructure is sold abroad. We dont take from them any oil, he said, adding Sudans own production of about 130,000 barrels per day provides more than enough for domestic gasoline consumption.We have a surplus, he said. Diesel, however, was supplemented by imports and another ship arrived with more of the fuel on Saturday, he said.South Sudans army spokesman Philip Aguer said on Saturday that contact had been lost with an army commander in oil-producing Unity state, across the border from Sudan.Aguer said there were reports the commander had joined the forces of fugitive former vice-president Riek Machar, whose troops have been fighting for six days against those loyal to President Salva Kiir.At least five South Sudanese workers were killed late on Wednesday after unidentified attackers stormed their compound in Unity state, operated by the Greater Nile Petroleum Operating Co., a senior executive with the firm said.

Football: Defiant Malky Mackay refuses resign

Posted:

LIVERPOOL (AFP) - Cardiff City manager Malky Mackay vowed not to resign after his sides 3-1 loss at Liverpool on Saturday, despite widespread reports that he faces the sack.Reports have emerged in the British media that Mackay has been sent an email by owner Vincent Tan telling him to resign or face dismissal.Mackay has a frosty relationship with Tan and reportedly angered the Malaysian by publicly expressing a desire to sign three new players in the January transfer window.However, Mackay fulfilled his duties as usual during Saturdays Premier League game at Anfield and he said that he had no intention of walking away from the club.I reiterate 100 percent that I absolutely wont be resigning from the football club, he told BT Sport.I am a proud, passionate man to lead this football club and lead this team. I have done for two and a half years and my staff, my players -- I certainly couldnt look at myself if I was to resign on those people.Mackay received strong support from Cardiffs fans during the match against Liverpool, with visiting supporters brandishing banners bearing the words Tan Out and We want our club black.A large group of away fans also stayed in place after the final whistle to chant their support for Mackay and declare their opposition to Tan. Asked if he understood the reasons for Tans stance, Mackay replied: Thats something youre going to have ask other people.You see the fans there today, how much theyre backing their team, how much they should be enjoying their Premier League season, and the backing every Saturday at three oclock once the whistle blows, home and away.Theyve been like that all season. Theyve not changed from that all season in terms of the numbers they come in and the noise, and the backing that theyve got for that football team.Im so proud that I represent them, so proud that my staff and my group of players represent them, because what theyre representing is the whole of Cardiff as a city. Were absolutely going to make sure that we make a fist of this.Mackay also received support from Liverpool manager Brendan Rodgers, who described the speculation about his position as ridiculous.On the reception Mackay received from the visiting fans, Rodgers said: Its the very least he deserves. And pay tribute to the Liverpool supporters as well, because they showed their appreciation and their understanding of the situation as well.Theres obviously one person who doesnt see that Malkys doing a brilliant job there. Its a ridiculous situation that has unfortunately seen him come under unnecessary pressure.Cardiff are playing in the top flight for the first time in 51 years after being promoted from the Championship last season.

Police chief among 15 policemen killed in Iraq

Posted:

RAMADI (AFP) - Five senior Iraqi officers, including a divisional commander, and 10 soldiers were killed Saturday in a raid on an Al-Qaeda hideout in the west of the country, military officers said.Violence elsewhere killed five policemen, including the police chief of Al-Sharqat district northwest of Baghdad, and wounded five others, police and a doctor said.Mohammed al-Karoui, the commander of the armys 7th Division, was leading an operation to attack hideouts of militants belonging to the Al-Qaeda organisation in Sunni-majority Anbar province, which borders Syria.He was killed along with four other senior army officers and 10 soldiers when they attacked a camp near Rutba, 380 kilometres (235 miles) west of Baghdad, the military officers said.Soldiers were attacked by suicide bombers during the assault on the camp and hit by bombs that exploded when they entered buildings, the sources said, without specifying at what point the officers died.The defence ministry said the operation was launched after reports that Al-Qaeda militants had set up camps in the area to train militants in bomb-making.Intelligence indicated that the Al-Qaeda terrorist organisation opened camps to train its terrorist elements to make bombs and explosive belts as well as car bombs, and that more than 60 militants were present in the Wadi Huran region of Anbar province, the ministry said.Reconnaissance flights pinpointed targets, which helicopters then attacked ahead of the ground assault.Karouis unit was tracking fleeing suspects when a bomb exploded, killing the major general, the other officers and the soldiers, the ministry added.Prime Minister Nuri al-Maliki, who also heads the armed forces, offered his condolences.These heroes... were carrying out the most noble battles against the enemies of God and humanity, said Maliki. They are fighting battles daily to protect Iraq and its people, he said.Eradicate malevolent gangsMaliki also urged the armed forces to strike with an iron fist... these malevolent gangs and track them down wherever they may be and eradicate them from Iraq.Two years after the US pullout, security forces have been struggling to curb violence that has surged this year to levels unseen since 2008, when Iraq was just emerging from a brutal sectarian conflict.In November, Maliki travelled to Washington where he discussed with President Barack Obama how to push back Al-Qaeda, which has been blamed for the surge in violence, the US leader said at the time.Maliki took along a wish list of US military hardware Baghdad says it needs to rebuild its armed forces which were battered in the 2003 US-led invasion.A joint statement at the time said both sides agreed on the need for additional equipment for Iraqi forces to conduct ongoing operations in remote areas where terrorist camps are located.In other violence Saturday, a bomb blast killed Al-Sharqat police chief Colonel Ahmed al-Battawi and wounded five policemen as they were on patrol northwest of Baghdad, police and a doctor said.Another four policemen were killed in attacks on checkpoints in Fallujah, west of the capital, security officials said. The Western desert province of Anbar borders war-torn Syria and is a bastion of Al-Qaeda.France and Turkey have also offered to help Iraq battle the growing violence, where more people were killed in the first eight days of this month than in all of December last year.Over 480 people have now been killed in violence so far this month, and more than 6,600 since the beginning of 2013, according to AFP figures based on security and medical sources.Analysts say widespread discontent among Iraqs minority Sunni Arab community is a major factor fuelling the surge in unrest. The 33-month war in Syria, which has bolstered extremist groups, has also played a role.And although the government has made some concessions aimed at placating Sunni Arabs, including freeing prisoners and raising the salaries of Sahwa fighters, underlying issues remain unaddressed.

US astronauts steps out on spacewalk for stations repairs

Posted:

WASHINGTON (AFP) - Two US astronauts stepped outside the International Space Station on Saturday for the first of three spacewalks to fix a broken equipment cooling system, NASA said.The spacewalk began at 7:01 am (1201 GMT), a few minutes earlier than planned. It is expected to last six and a half hours.Veteran spacewalker Rick Mastracchio is making his seventh such walk, accompanied by Mike Hopkins, who is making his first venture outside the global research lab.Japanese astronaut Koichi Wakata is operating the stations 50-foot (15-meter) robotic arm, hoisting Mastracchio and hefty equipment from one section of the lab to another.The mens first task is to disconnect a failed ammonia pump, which is about the size of a refrigerator.With each astronaut sporting a helmet camera, NASA TV showed the operations in real-time from the perspective of the spacewalkers.On the second spacewalk, set for Monday, the astronauts are to remove the pump so it can be replaced with a spare that was already stowed at the ISS.A third spacewalk is planned for Christmas Day, when the failed pump will be shuttled away and final installations made on its replacement.However, there is a chance the astronauts will be able to complete all their work in two spacewalks, NASA has said.If not, the Christmas Day outing would be the first since 1974, when a pair of NASA astronauts did work outside the Skylab space station.The urgent spacewalks were called for this week due to a faulty valve that caused a partial shutdown in the system that regulates equipment temperature at the space station.Engineers tried to fix the problem from the ground, but eventually decided they needed to replace the ammonia pump. The six-man crew was never in danger, but NASA wanted to fix the problem sooner rather than later, agency officials said.The spacewalks meant the first regular commercial cargo supply mission by Orbital Sciences Cygnus craft, which had been planned for earlier in the week, was postponed. It will now fly no earlier than January 7.NASA also had to rig up some last-minute contingency gear inside the US-made spacesuits, which have not been used since a helmet water leak nearly drowned a European astronaut in July.Now the helmets carry an extra absorption pad and a snorkel inside, in case there is a malfunction in the water pump system in the 35-year-old suits.The investigation into the cause of the helmet leak is ongoing. Hopkins is wearing the suit that had the problem, though its inner water pump has been replaced.NASA said it would check with the astronauts throughout the day to make sure they were not feeling any squishy sensation behind their necks, which might indicate a water buildup and would cut short the spacewalk, space agency commentators said.Early checks were clear, with astronauts reporting dry conditions and no problems in the spacesuits or gloves, NASA said. The astronauts also trained for the emergency spacewalks by watching video of a previous outing to replace an ammonia pump in 2010.

Four US troops wounded in South Sudan: Pentagon

Posted:

WASHINGTON (AFP) - Four US troops were wounded in South Sudan when their aircraft came under fire as they were headed to Bor to evacuate Americans, the Pentagon said on Saturday.Three helicopters were forced to return to neighboring Uganda with one of the aircraft hit and leaking fuel, diplomatic and Ugandan military sources earlier told AFP.The injured troops are being treated for their wounds, a Pentagon statement said. It did not confirm if the aircraft involved were helicopters.The United States deployed 45 troops on Wednesday to protect American personnel and assets in South Sudan, amid intensifying fighting between rebels and government forces.In a letter to Congress, President Barack Obama said the force will remain in South Sudan until the security situation becomes such that it is no longer needed.Although equipped for combat, this force was deployed for the purpose of protecting US citizens and property, he added.Violence erupted after a meeting last week of leaders of the ruling Sudan Peoples Liberation Movement (SPLM) failed to ease tensions in the party.South Sudan President Salva Kiir has accused Machar, whom he fired in July along with his entire cabinet, of staging an attempted coup. The former vice president has denied the charge, but his whereabouts are unknown.Even as diplomatic initiatives were multiplying in South Sudan, the death toll continued to climb as violence spread between rival ethnic groups.Six days into the battles between followers of Kiir, an ethnic Dinka, and Machar, a Nuer, at least 500 people have been killed in Juba alone.Foreign governments meanwhile scrambled to get their nationals out of harms way.

Tennis: Becker quits BBC role to focus on Djokovic

Posted:

BERLIN (AFP) - Boris Becker has said he is giving up his job as a BBC commentator to focus on his new role as head coach of world number-two Novak Djokovic.The 46-year-old Becker has worked as a BBC commentator alongside fellow former players John McEnroe and Pat Cash since 2002, but says his media role now conflicts with his position as Djokovics mentor.I cant analyse games on television and then the next day be a coach, Becker, who won six Grand Slam titles in his career, told German daily Bild. Becker has already joined Djokovic in his training camp in Marbella, Spain, and has set about fine-tuning the 26-year-old Serbian stars game.At this level, it is the small things which will decide whether you win the tournament or come second, said Becker. I can still hit a few balls with Novak, but that job will fall mainly to his hitting partner.Ill be on the court in a tracksuit and looking at the video analysis, trying to make him a better tennis player. Becker has been brought in to improve Djokovics game after a disappointing 2013 by his own high standards.Djokovic won the Australian Open but lost to Rafael Nadal in the US Open final, then again in the semi-finals of the French Open, as well as losing to Andy Murray in the Wimbledon final.Becker has said he will spend around 20 weeks per year on the ATP Tour with Djokovic and says his young son Amadeus and wife Lilly will join him on occasion.When it fits, Lilly and Amadeus will come with me from time to time, said Becker. Without Lillys support I wouldnt have taken this job on.

Former BBC sports broadcaster David Coleman passes away

Posted:

LONDON (AFP) - Former BBC sports broadcaster David Coleman has died at the age of 87, his family announced on Saturday.Remembered chiefly for his work as an athletics commentator, Coleman worked at the BBC for almost 50 years, covering 11 Olympic Games and six football World Cups.We regret to announce the death of David Coleman OBE. After a short illness he died peacefully with his family at his bedside, his family said in a short statement.The BBCs Director-General, Tony Hall, said: David Coleman was one of this countrys greatest and most respected broadcasters. Generations grew up listening to his distinctive and knowledgeable commentary.Whether presenting, commentating or offering analysis, he set the standard for all todays sports broadcasters. Our thoughts are with his family and many friends.Coleman joined the BBC in 1954 and was affectionately known for on-air blunders that became known as Colemanballs. He was made an Officer of the Most Excellent Order of the British Empire (OBE) by Queen Elizabeth II for services to broadcasting in 1992 and retired in 2000.In the year of his retirement, he became the first broadcaster to receive an Olympic Order medal to recognise his contribution to the Olympic movement.Gary Lineker, the former England striker who now works as a BBC presenter, wrote on Twitter: Sad to hear, David Coleman has died. A giant of sports broadcasting. Brilliant, gifted, precise and concise. Much more than one-nil.

Rahul Gandhi admits ruling party stumbles in polls

Posted:

NEW DELHI (AFP) - Indias ruling Congress scion, Rahul Gandhi, tipped to be named the partys candidate for premier next month, admitted Saturday the party stumbled badly in recent state polls but vowed to stage a comeback.A stunning performance by an upstart anti-corruption party helped topple Congress in elections to New Delhis state assembly earlier this month, only months before the country goes to the polls in general elections.Congress, in power at national level for a decade, also lost in three other state assembly contests in a devastating blow ahead of the May election.We didnt really hit a six in the last election, Gandhi, using a cricket expression, told top Indian business leaders at a conference. We didnt do as well as we expected, but we will renew ourselves and will fight strong and confidently, Gandhi said.In his first major speech since the partys polling rout, Gandhi said endemic corruption was bleeding the people while adding the country urgently needed to get back on a high-growth trajectory.Poverty cannot be fought without growth -- there is no confusion in my mind. There is a business engine and the people have to empower the business engine, he said.Meanwhile, in a shake-up ahead of the elections, Congress environment minister Jayanthi Natarajan resigned on Saturday. The Indian media reported she was going to be drafted into working for the Congress party during the elections.Oil minister M. Veerappa Moily was given the extra responsibility of the environment ministry, a government statement said.Indian media have reported Gandhi, 43, whose family has given India three prime ministers, could be named the partys official candidate during a Congress meeting in mid-January.The move would pit Gandhi against Gujarat chief minister Narendra Modi who has been named the prime ministerial candidate for the Hindu nationalist opposition Bharatiya Janata Party.Modi has become a hero of middle-class India, hailed as a business-friendly moderniser who could revive a sharply slowing economy. But hia ability to erase memories of deadly anti-Muslim riots in 2002 after he became Gujarat chief minister remain an issue for many.There are also doubts about Gandhis ability and desire for the job of prime minister.Opinion surveys point to a fractured election outcome in which smaller regional parties with differing agendas and a reliance on Muslims and other religious minorities for support could end up with an upper hand.

Dialogue with Washington under way to end Khobragades issue: Salman

Posted:

NEW DELHI (AFP) - India sought to tamp down Saturday a furore over the arrest and strip-search of one of its diplomats in New York, insisting the episode should not be allowed to derail strong ties with the United States.Foreign minister Salman Khurshid said a dialogue with Washington was under way to defuse the crisis sparked by the 48-hour detention of deputy consular general Devyani Khobragade on December 12.Our relationship is that of partners. Our mutual relations are very strong, Khurshid told reporters in New Delhi. I believe people in both the countries wouldnt want the old ties we share to get unsettled by this one incident, he said.That is why the dialogue going on between us should be allowed to continue.Khurshids tone was milder than on Friday when he termed the treatment of 39-year-old Khobragade by US Marshals hurtful and unacceptable.The two countries ties have warmed considerably since they were on opposite sides of the fence during the Cold War. They now participate in joint security exercises and Washington sees India as a valuable strategic partner in the troubled region.But the worlds two largest democracies have been at loggerheads since the arrest of Khobragade, who said she was handcuffed and subjected to an invasive body search.The diplomat, a mother of two, now free on bail, was arrested over accusations that she lied about the salary she was paying her Indian servant in a US visa application.According to New York authorities, she was paying the domestic worker a third of the figure mentioned in the visa application. But her treatment has caused outrage in India, with the government urging Washington to drop the case and apologise.India is trying to secure stronger diplomatic immunity for Khobragade by shifting her to its UN mission in New York, although such a move needs State Department approval.The Press Trust of India reported Saturday the UN had received a notice from India to register Khobragade as a member of the Permanent Mission, adding the request would be processed according to standard procedures.However, a spokeswoman for the State Department made clear in a briefing late this week that there could be no retroactive immunity for Khobragade.If theres a change in immunity... because of a different diplomatic status, that immunity would start on the date its conferred, Marie Harf said.The government and opposition parties have taken a tough stand over the issue as they gear up for a general election next year.Delhi has made a series of moves against the United States, bulldozing security barricades around the US embassy and snubbing a visiting US delegation.US federal prosecutor Preet Bharara has insisted Khobragade was arrested in the most discreet way. He said his sole motivation was to hold accountable anyone who breaks the law no matter how powerful, rich or connected.Indian trade minister Anand Sharma, also speaking on Saturday, said the two countries should not allow the issue to cast a long shadow on their bilateral ties.We are not disengaging (from the United States). This engagement will grow stronger and issues (such as these) will not be allowed to cast a long shadow, he said.But anger in India over the issue was still visible Saturday with dozens of protesters in New Delhi demanding justice for Khobragade and shouting slogans against the United States.

Tayyip Erdogan warns he could expel some foreign ambassadors

Posted:

ANKARA (AFP) - Turkish Prime Minister Recep Tayyip Erdogan Saturday warned some foreign ambassadors he might expel them over provocative actions, amid mounting tensions over an anti-graft probe.Some ambassadors are engaged in provocative actions ... Do your job, Erdogan said in televised remarks in the Black Sea city of Samsun. We dont have to keep you in our country.Erdogans remarks were considered a veiled threat to US Ambassador Francis Ricciardone who, according to some pro-government media outlets, told some European Union envoys that Washington warned state-owned Halkbank to cut its ties with sanctions-hit Iran.The chief executive of Halkbank, Suleyman Aslan, was one of scores of people, including the sons of Erdogan cabinet ministers, who have been arrested in a high-profile bribery investigation that went to the heart of the government, which has been in power since 2002.Aslan was charged early Saturday with taking bribes, the Hurriyet newspaper said without elaborating.Judges in Istanbul also charged the sons of Interior Minister Muammer Guler, Baris Guler, and of Economy Minister Zafer Caglayan, Kaan Caglayan, with acting as intermediaries in order to give and take bribes, the Hurriyet newspaper reported without elaborating.Azerbaijani businessman Reza Zarrab was meanwhile charged with forming a ring that bribed officials to disguise illegal gold sales to Iran via Halkbank, Hurriyet said.Police also seized $4.5 million in cash hidden in shoe boxes in Aslans home, local media reported last week, citing judicial sources.Halkbank came under fire from some quarters in the United States for its illegal transactions to Iran but the bank had previously denied the claims.We asked Halkbank to cut its links with Iran. They did not listen to us. You are watching the collapse of an empire, Ricciardone was quoted as telling EU ambassadors, according to Aksam, Bugun, Yeni Safak and Star newspapers.But Ricciardone on Saturday denied the media reports as baseless allegations, in his Twitter account in the Turkish language.Nobody should put US-Turkish relations into jepoardy through baseless allegations, he said

British Diageo to challenge Indian court ruling voiding USL sale

Posted:

NEW DELHI (AFP) - British drinks giant Diageo said Saturday it will challenge an Indian court decision annulling its purchase of some shares of United Spirits that threatens its control of Indias biggest liquor firm.Fridays ruling came five months after Diageo announced it sealed a 52.4-billion rupee ($845 million) deal to aquire a quarter of United Spirits shares which made it the Indian companys controlling shareholder. We do not believe there are any grounds for declaring the sale of shares in United Spirits Ltd purchased by Diageo on July 4 from United Breweries Holdings Ltd (UBHL) as void, Diageo said in a statement.Once we receive the full written (court) order, we will review the detail of that order. We confirm we intend to appeal the matter further, Diageo added.Through its purchase of United Spirits, London-based Diageo has been seeking a dominant presence in the worlds biggest whisky market.At the root of the case is debt-laden Kingfisher Airlines, part of the corporate empire of flamboyant Indian tycoon Vijay Mallya, that owes tens of millions of dollars to creditors.The Karnataka High Court was acting on a plea filed by creditors of United Breweries Holdings Ltd (UBHL), the holding company of Mallyas UB group, that sold a seven percent stake in United Spirits to Diageo.UBHL had given guarantees worth millions of dollars to Kingfisher Airlines lenders.Creditors of the airline have been chasing the return of their money by seeking to derail the Diageo deal. They want to force the sale of UBHL and take the proceeds to settle their claims.Fridays ruling overturned an earlier judgement giving conditional approval to UBHLs plan to sell its United Spirits shares to Diageo.Diageo had initially intended to buy a majority stake in United Spirits but an open offer for shares fell flat and the British drinks maker had to settle for control of the company.Diageo announced last month it held 26.37 percent of United Spirits. The court ruling would cut Diageos stake in United Spirits to 19.39 percent. If upheld, the verdict could also reduce Diageos stake in United Spirits to minority status. This would make it tougher for the British drinks company to manage the Indian firm and implement big significant decisions.Diageo, which has been expanding aggressively in emerging markets, sells various popular brands, including Smirnoff Vodka and Johnnie Walker whiskey.United Spirits Ltd, or USL, is Indias leading spirits maker, marketing such brands as Bagpiper, Antiquity and Royal Challenge.Analysts had always said the United Spirits sale to Diageo could face risks from creditors of Kingfisher Airlines seeking compensation for their losses.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)