Monday 28 April 2014

Dunya TV

Dunya TV

Football: Arsenal eye Champions League after Newcastle stroll

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LONDON (AFP) - Arsenal moved four points clear of Everton in the race for the fourth and final Champions League place on offer to Premier League clubs with a convincing 3-0 win over Newcastle United on Monday.A rare strike by Laurent Koscielny opened the scoring at the Emirates Stadium before Mesut Ozil netted for the 10th time this season and Olivier Giroud sealed victory with his 21st goal of the campaign to boost the Gunners hopes of a 17th successive term in Europes premier club competition.Arsene Wengers side now require just one more victory from their final two league matches against either West Bromwich Albion or Norwich City to book their spot.We had some problems at the start of the game, trying to find our way through the defence. When we found an opening we became stronger, Gunners boss Wenger told Sky Sports.In truth, visitors Newcastle had goalkeeper Tim Krul to thank for keeping the scoreline respectable as Alan Pardew, back on the touchline after a seven-game absence due to suspension, saw his side suffer a sixth successive league defeat -- the north-east clubs worst run in the English top flight since the 1986/87 season.It was tough for us tonight, said Pardew, whose side remain ninth in the table.We dug in, worked hard and tried to offer a threat but they (Arsenal) were too good.We need to focus on finishing in the top 10. Well be really up for it and hopefully well get a win.The Englishman added: Were going to work hard in the summer to make sure we have a team that can make this city proud.Im looking at the job as a long-term opportunity for myself. Thats how you have to focus.While followers of fifth-placed Everton were cheering on Newcastle in the hope they could do them a favour, the blue half of Merseyside would be disappointed as Arsenal, with the FA Cup final against Hull City at Wembley on May 17 confined to the back of their minds, dominated throughout.Arsenal, with Aaron Ramsey and Ozil back in the groove after building up their match-fitness following injuries, looked slicker and sharper and it was little surprise when the north London side took the lead in the 26th minute.Moussa Sissoko needlessly pulled down Giroud 40 yards out from goal and Santi Cazorlas pin-point delivery allowed Koscielny to nip in at the back post and flick home for his second goal of the season.Arsenal almost doubled their advantage two minutes later when Lukas Podolski saw his effort from an acute angle on the left side of the area turned around the post by Kruls legs.Krul came to the rescue once again on the half-hour mark when the Dutch keeper produced an excellent save to keep out Podolskis header from point-blank range.But the second goal Arsenal had been threatening arrived three minutes before the interval.Giroud broke Newcastles offside trap to latch onto Mikel Artetas through ball and the striker was twice denied by Krul only for Ozil to tap home the rebound.Replays did show that Ozil was in an offside position when he converted, but the goal stood.Arsenal maintained the pressure early in the second period, Cazorla hitting a volley over the crossbar and Bacary Sagna heading over.Newcastle, whose supporters began to turn on manager Pardew, could have halved the deficit in the 58th minute when Yoan Gouffran raced clear onto Loic Remys pass, but his shot was straight at Gunners goalkeeper Wojciech Szczesny.The misery continued for Pardew as the hosts scored a simple third goal when the unmarked Giroud headed home from six yards from Ozils left-wing cross.That sparked a series of growing chants from the away section of the ground such as Next excuse, Pardew? and Pardew Out as the pressure increased on the Newcastle manager.But, for Wenger and Arsenal, this was a good job, well done as they took another major step towards Champions League qualification.

Boxing: Wladimir Klitschko's Olympic hopes in doubt

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KIEV (AFP) - Ukraines undisputed world heavyweight champion Wladimir Klitschkos hopes of competing in the 2016 Olympics have been dealt a blow after he failed to get permission to take part in his countrys qualifying competition.The executive board of the Ukrainian national boxing federation have never given permission to either Klitschko or his older brother Vitali to take part in qualifying for the Games in Rio de Janeiro, meaning he has missed the deadline, according to the R-Sport news agency.The possibility of the participation of the Klitschko brothers in Olympic qualifying as professionals is something that has never been examined, Ukraines boxing federation press service stated.That comes as a blow to the 38-year-old, who had earlier been quoted by the Interfax-Ukraine news agency as saying: I hope that international amateur boxings ruling body will be kind to me, and that I will have enough health and motivation to perform at the Olympics in two years time.The 38-year-old, who won gold at the 1996 Olympics in Atlanta, said he spoke to his former coach, Emanuel Steward, during the 2012 London Olympic Games and that he had encouraged him to box again in Rio.Steward subsequently died in October of 2012.It was our joint dream with Emanuel (Steward) and I hope I will be able to fulfil it, Klitschko said.I already have an Olympic title and it would be terrific to repeat this experience 20 years later.Klichko, who has lived in Germany since the 1990s, had the chance to take German citizenship and represent the country at the Olympics but he also failed to inform Germanys boxing association about his intentions in time.Unfortunately Klitschko has failed to meet the demands of the AIBA as he missed the opportunity to inform Germanys boxing association about his intention to represent our country at the Games in time, Germanys amateur boxing chief Jurgen Kyas said.His participation in the Games could be very useful for all of amateur boxing but we should observe the rules, he added.On Sunday Klitschko defended his WBA, IBF, WBO and IBO belts in Oberhausen, Germany, in his 25th world title fight, knocking out Australian challenger Alex Leapai after two minutes, five seconds of the fifth round.

Oil prices mixed despite fresh Russia sanctions

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NEW YORK (AFP) - Oil prices fell in London but edged higher in New York Monday as fresh Western sanctions on Moscow were milder than feared and Libya stook more steps to increase exports.New York's West Texas Intermediate (WTI) for delivery in June gained 24 cents at $100.84 a barrel.In London, Brent North Sea crude for June lost $1.46 to close at $108.12 a barrel.The London benchmark felt selling pressure after Libya's state oil company declared the end of a force majeure on its Zueitina oil depot, opening the way for a resumption of exports from the terminal.Analysts meanwhile said the sanctions by Washington and Western Europe, targeting Russian President Vladimir Putin's close business circle for Moscow's failure to stop soaring tensions in Ukraine, came in lighter than expected.The sharp turnaround in Brent oil prices is probably due to the fact the sanctions against Russia were not as tough as had been priced in, said Forex.com analyst Fawad Razaqzada.The Brent contract is likely to remain supported by geopolitical tensions for the foreseeable future, while the excess oil supply in the US will probably weigh down WTI.Crude futures had rebounded in earlier trade, boosted by renewed strains between Russia and Ukraine.Ukraine, a major conduit for Russian natural gas exports to Western Europe, is monitored closely by investors who are concerned that a full-scale armed conflict will disrupt supplies and send energy prices soaring.Washington placed seven Russian officials and 17 companies on its sanctions list, and the European Union added 15 people to its own blacklist, in hopes of persuading Moscow to back off from Ukraine.The measures fall short of the full-scale economic sanctions previously pressed by Washington.As the situation in Ukraine continues to remain tentative, we expect volatile trading conditions in the short term, until there is a clear resolution to the Ukrainian crisis, said analyst Myrto Sokou at the Sucden brokerage in London.

Dollar slips vs euro ahead of Fed meeting

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NEW YORK (AFP) - The dollar slipped against the euro Monday despite bearish comments from Europe and amid expectations that the Federal Reserve will keep policy on course in its two-day meeting opening Tuesday.The euro-dollar rate remained within its recent narrow range, showing little impact from a fresh round of sanctions announced by the US and the European Union against Russia, aiming to press Moscow to stop menacing Ukraine.The trade also seemed unperturbed by warnings from France's central bank that the eurozone faces a disinflation threat, and from the Bundesbank that the German economy will see a noticable slowdown this quarter.Low inflation does not mean deflation, said Bank of France Governor Christian Noyer. But he underscored that very low inflation was a big problem, and part of the cause was the euro's strength.The big challenge for the 18-nation eurozone was the risk of inflation which is too weak for a lasting period, he said.No policy surprises are expected from the Fed in its monetary policy review on Tuesday and Wednesday: another $10 billion cut to bond purchases is presumed, as is an unchanged dovish stance on inflation.The yen meanwhile fell against the euro and the dollar, ahead of a Bank of Japan policy meeting on Wednesday. With Japan's inflation number appearing stronger last week, the BoJ could be reticent to further ease policy.

US couple appeals Qatar jail over daughter's death

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DOHA (AFP) - A US couple initially accused in Qatar of starving their adopted daughter to death in order to sell her organs on Monday appealed their conviction on reduced charges of parental neglect, a judicial source said.Matthew and Grace Huang appeared in court Monday, the judicial source said, adding that they only found out this week the charges that provided the basis for their three-year-jail sentences of March 27.Today was just a formality, the source said, requesting not to be named.The Huangs, who are of Asian descent, were arrested in January 2013 after the death of their eight-year-old daughter Gloria, who was adopted from an orphanage in Ghana. They maintain she died of an eating disorder rooted in a troubled early childhood.Both adoption and multiracial families are rare in Qatar, a conservative Gulf Arab emirate, and the familys supporters maintain Qatari authorities misunderstood the Huangs situation.The couple were released in November pending trial, but the court denied their request to leave the country to join their other two adopted children in the United States.The public prosecutor had pushed for the death penalty for the Huangs.In addition to imprisonment, the court ordered the couple to pay a fine of 15,000 riyals ($4,100) each and to be deported after serving their sentence.But in reading the verdict, the judge did not specify the exact charges for which they were convicted.

US congressman in custody, charged with 20 counts

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NEW YORK (AFP) - US congressman Michael Grimm was taken into custody Monday and charged with fraud and obstruction of justice, accused by federal prosecutors of making $1 million disappear from the books of a business he owned.The former FBI agent and a second-term Republican from Staten Island was arraigned in federal court where he pleaded not guilty to an array of charges linked to his conduct while the owner of a health food restaurant before he became a member of the House of Representatives.A federal indictment charged Grimm with 20 counts, including five counts each of mail fraud and wire fraud, three counts of filing false tax returns, two counts of perjury and one of obstructing official proceedings.Michael Grimm made the choice to go from upholding the law to breaking it. In so doing he turned his back on every oath he had ever taken, US Attorney for the Eastern District of New York, Loretta Lynch, said in announcing the charges.Lynch pulled no punches, outlining how Grimm hired undocumented workers and paid them cash, off the books, in a scheme to fraudulently under-report earnings at Healthalicious, the Manhattan restaurant he co-owned from 2007 through 2010.The scheme, Lynch said, allowed Grimm to make over $1 million simply disappear.The indictment stated: In an attempt to conceal his schemes, in January 2013, while a member of Congress, Grimm lied under oath during a civil deposition about his role in operating the restaurant, including falsely denying that he had paid Healthaliciouss workers in cash.If convicted, Grimm could get up to 20 years for each of the mail and wire fraud charges, in addition to jail time for the others.The 44-year-old also has been under investigation for two years for alleged campaign finance violations, but the 20 counts did not appear to be directly related to that FBI probe.Grimm got into hot water earlier this year after being caught on camera threatening to throw a reporter off a balcony in the US Capitol building after the journalist asked Grimm about the campaign finance probe.Last week, Grimms lawyer William McGinley said his client asserts his innocence, and that US authorities were conducting a politically-driven vendetta against him.Grimm and the rest of the 435-seat House face re-election in November.The non-profit Citizens for Responsibility and Ethics in Washington called for Grimms immediate resignation.

British Library opens showcase for vast news archive

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LONDON (AFP) - The British Library officially opened its newsroom on Monday, where the public can access more than 300 years of newspaper history dating back to the English Civil War for free.In the new centre at the national library in London, visitors can plough through 7.8 million scanned pages of historic newspapers and 4.8 million archived British Internet domain websites, totalling more than a billion individual web pages.It also holds the British Librarys collection of television and radio news broadcasts, which includes more than 40,000 programmes dating back to 2007 and is growing at a rate of 60 hours every day across 22 news outlets.Newspapers are often described as the first draft of history -- in fact, in many cases they are the raw material of history and very often the only record that exists of an event or an individual that otherwise would have been forgotten, said the British Librarys chief executive Roly Keating.The new facility means researchers can access material within the library itself in central London, rather than trekking to the archive.The vast cache of actual newspapers was sited at an outdated facility in suburban London, but has migrated to a new, high-tech storage unit in Yorkshire, northern England.The newspaper collection dates back as far as the English Civil War (1642-1651) and constitutes an unrivalled record of society, people, politics and events, the library says.It contains more than 750 million pages of newspapers and periodicals from nearly every local, regional and national newspaper, and takes up more than 20 kilometres of shelves.Keating said the collection was a vital part of the memory of the nation -- recording every aspect of local, regional and national life, and was continuing to grow at a rate of more than seven metres every week.Were ensuring this vast, precious and incredibly fragile resource is available not just for todays researchers, but also future generations.Culture Secretary Sajid Javid was opening the newsroom.The new reading room, and the shift of the librarys actual newspaper archives to a new facility, has been paid for with 33 million ($56 million, 40 million euro) of public funds.The often fragile collection of 60 million printed newspapers has moved from Colindale in northwest London to a purpose-built new storage facility in the village of Boston Spa, between Leeds and York.It is temperature and humidity-controlled so that the copies, mostly printed on cheap, low-grade paper meant to be read once and then thrown away, may stand a better chance of lasting well into the future.The oxygen in the facility has been reduced from 21 percent to between 14 and 15 percent to reduce the risk of fire.It is also off limits to people to help maintain the atmosphere. The papers are stored in 20-metre-high racks and are fetched by robotic cranes that deliver them, via an air-lock, to a retrieval area.

Ashraf Mahmood Wathra becomes SBP chief

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KARACHI (Web Desk) - Acting Governor State Bank of Pakistan (SBP) Ashraf Mahmood Wathra has been appointed full-fledge Governor of the central bank for next three years.The slot was vacated on January 30 2014 when former Governor SBP Yaseen Anwar resigned from the post. Therefore, the government is bound to appoint the new Governor SBP within three months after the post vacant.According to the SBP act 1956, the federal government has to appoint the new governor before April 30 2014.Anwar was appointed SBP governor in July 2011 after former SBP governor Shahid Kardar stepped down from the position amidst rumours that he had developed differences with the ministry of finance.Mr. Wathra brings 35 years of commercial & investment banking experience to his new assignment. Prior to joining SBP, he was serving the National Bank of Pakistan (NBP) as its Senior Executive Vice President & Group Chief, Credit Management Group, since October, 2012.Before joining NBP, Mr. Wathra served Habib Bank Limited from April 1999 to September 2012 in various responsible capacities such as Regional General Manager (Bangladesh), Executive Vice President & Regional General Manager (Singapore), Executive Vice President, Group Executive and Risk Manager & Senior Credit Officer, Asset Remedial Management Group.He was attached with Faysal Bank Limited from May 1992 to March 1999 in senior positions such as Executive Vice President & Country Risk Manager, Executive Vice President & Regional Manager and Senior Vice President & Chief Manager. From 1978 to 1992, he had been associated with BRR Capital Modaraba, Emirates Bank International, American Express Bank Ltd. and ANZ Grindlays Bank. He also served as Director at Habib Finance International, Hong Kong and Habib Finance, Australia.Holding Masters Degree in Business Administration, Mr. Wathra has attended a number of seminars, conferences and courses at home and abroad including Wharton/SMU General Management Program, Operational Risk Management and Asian Bonds Summit etc.

PM takes notice of police torture on missing persons heirs

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ISLAMABAD (Dunya News) – Prime Minister Nawaz Sharif has taken notice of police torture on heirs of missing persons.According to a statement issued by Spokesman of Prime Ministers House, the PM has expressed annoyance over police torture on the relatives of missing persons.The statement says that peaceful protest is a democratic right of every Pakistani and a citizen cannot be deprived of his basic right.The PM has ordered immediate release of all detainees including Amina Masood Janjua and take action against those responsible.According to Interior Ministry, all detainees have been released and a judicial inquiry into the incident has been ordered ASP City and ASP Secretariat Circle have been suspended.Amina Masood Janjua arrived at D-Chowk immediately after her release. She told that policemen also snatched cell phones from the protesters.She said that their struggle would continue till the recovery of missing persons.Earlier on Monday, police on resorted to baton-charge and tear gassing to disperse the heirs of missing persons.The clash between police and relatives of missing persons started when the protesters started marching towards Parliament House.Police stopped the protesters at D-Chowk. When the protesters tried to move to the other route police again stopped them and the clash started after exchange of harsh words.Police, resorted to baton-charge and tear-gas to disperse the protesters injuring several including children and women.Some journalists and cameramen were also injured during the clash, Dunya News reported.Police also arrested several protesters including human rights activist and campaigner on missing persons issue Amina Masood Janjua while the protest camp at D-Chowk was also removed by the police officials.

Abdelaziz Bouteflika sworn in as Algeria president for 4th term

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ALGIERS (AFP) - Abdelaziz Bouteflika was sworn in as Algeria's president for a fourth term Monday, a year after suffering a mini-stroke that was expected to end his 15-year grip on power.Sitting in a wheelchair and dressed in a navy three-piece suit and crimson tie, Bouteflika placed his right hand on the Koran as he repeated in a frail voice the oath read out by Supreme Court chief Slimane Boudi.The 77-year-old, who was also in a wheelchair when he cast his ballot in the April 17 election, has hardly been seen in public since the mini-stroke that confined him to hospital in Paris for three months last year.Official results showed he won 81.5 percent of the votes in the election marred by low turnout and claims of fraud by his opponents, including main rival Ali Benflis, who received just 12.2 percent.In a brief inauguration speech before senior Algerian officials, diplomats and other delegates, Bouteflika stumbled on his words as he thanked the security forces and observers for ensuring the election was run smoothly.Bouteflika also paid tribute to voters and other candidates in the election, which he hailed as a day of celebration and democracy for Algeria.At the start of the ceremony, Bouteflika had sat with his hands on his knees as he inspected soldiers following a display of their weapons outside the beachfront Palace of Nations resort.After shaking hands with the head of a constitutional panel, Mourad Medelci, and members of his government, Bouteflika was greeted by celebratory ululation.The inauguration ceremony wrapped up after 30 minutes with a standing ovation for Bouteflika, and a rousing rendition of Algeria's national anthem.Bouteflika followed it up by paying tribute to those killed in the war of independence at El Alia cemetery, the final resting place of other former presidents.- Opposition boycott -The opposition boycotted Monday's swearing-in ceremony, including five parties that had called on their supporters to stay away from the election.Among the absentees was Benflis, who has refused to recognise Bouteflika's re-election, saying that doing so would make him complicit in fraud.One of the few remaining veterans of the war of independence against France, Bouteflika first came to power in 1999, and has been dogged by ill health and corruption scandals.Bouteflika remains popular with many Algerians who credit him with helping to end a devastating civil war and contain Arab Spring protests.But many people had been clamouring for change.Algeria has witnessed more self-immolations than Tunisia since 2011 and many people express astonishment that a state with foreign exchange reserves of $182 billion does not do more to improve their lives.Social discontent and deadly riots rattled Algeria in January 2011 when revolts were spreading across the region, but the regime snuffed out the protests with a sprinkling of political reforms and pay rises.Bouteflika's third term in office was overshadowed by speculation about his health, and even rumours he had died, after he underwent surgery in Paris in 2005 for a stomach ulcer.The Algerian president was hospitalised in France again in April last year after a mini-stroke, spending three months recovering and chairing just two cabinet meetings in 2013.But he won re-election in a landslide, despite not even taking part in campaigning.And in his inauguration speech he said he would continue to seek from international partners backing for Algeria's development based on mutual support and the transfer of technology.He also promised the advent of a diversified economy in a country heavily reliant on hydrocarbons, which account for 97 percent of exports.

22 killed in attack on Central Africa MSF hospital

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BANGUI (AFP) - At least 22 people including three staff members of medical charity Medecins Sans Frontieres were killed during a weekend attack by gunmen on a Central African hospital, in the latest atrocity to hit the violence-plagued country.The brutal attack in the northwest was blamed on rebels known as the Seleka, a mostly Muslim group whose coup in March last year unleashed a vicious cycle of sectarian violence.Armed men from the ex-Seleka and of Fula ethnicity on Saturday afternoon attacked a hospital supported by MSF in the region of Nanga Boguila, killing at least 22 people, including three Central African employees of MSF and leaving a dozen wounded, an officer from the African-led MISCA peacekeeping force told AFP on Monday.MSF confirmed the death of its three employees, saying they were among 16 civilians killed in the attack.We are extremely shocked and saddened by the brutal violence used against our medical staff and the community, Stefano Argenziano, the head of the charitys mission in the country said.This appalling incident has forced us to withdraw key staff and suspend activities in Boguila.The gunmen stormed into the building while local representatives and MSF employees held a meeting, according to the MISCA officer.He said the assailants first opened fire at a group of people, before going to the hospital and shooting.They took computers and several other assets, breaking down doors probably in search for cash, added the officer.Roman Nadal, a spokesman for the French foreign ministry, said Monday that the French government strongly condemns the deadly attack.The perpetrators of this intolerable attack must be brought to justice, he said, while adding his praise for MSFs work in difficult conditions and under threat to their lives.The Seleka rebels were ordered to disarm by their leader Michel Djotodia several months after they installed him in power in a coup. But some ignored orders and went on a killing, raping and pillaging rampage.Mostly Christian communities then formed anti-balaka vigilante forces to wreak revenge against Muslims, usually targeting innocent people.Djotodia resigned in January after failing to put down the violence that has claimed thousands of lives and displaced a quarter of the countrys 4.6 million population. Today, extremists of the Seleka alliance actively encourage de facto partition.African and French peacekeepers, backed up recently by an EU force, have struggled to curb the fighting ripping the country apart.It is a region that is not completely secured, because our forces (are not large enough) to be deployed in other sites than the main cities like Bossangoa, said the MISCA officer, referring to a city about 100 kilometres from the scene of the MSF attack.According a report by the UN mission in the country, seen by AFP on Monday, there have been a number of other attacks in recent days on villages near Paoua, close to the northern border with Chad. The UN force blames them on the strengthening of the Seleka rebels in the region.The weekend also saw 1,300 Muslims leave the capital Bangui under heavy guard.Tens of thousands have already fled northwards, almost emptying the south of the country of Muslims. They have travelled to predominantly Muslim areas in the north, while thousands of others have fled across borders into Chad and Cameroon.The religious and ethnic faultlines that are driving the conflict are particularly disheartening in a country where these groups lived peacefully alongside each other for generations despite a succession of coups, misrule, army mutinies and strikes.Earlier in April, UN chief Ban Ki-moon made an impassioned plea on the warring parties to prevent a new genocide on the continent, 20 years after Rwanda.A 12,000-strong UN force is scheduled to deploy in September in the former French colony, taking over from 2,000 French and 6,000 African Union soldiers already in place.

Hong Kong shares end 0.41% down

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HONG KONG (AFP) - Hong Kong shares closed 0.41 percent lower on Monday, in line with a broad regional sell-off following losses on Wall Street, while traders keep a wary eye on the Ukraine crisis.The benchmark Hang Seng Index ended down 91.00 points at 22,132.53 on turnover of HK$52.83 billion (US$6.82 billion).The tech-rich Nasdaq led US shares down Friday after a disappointing earnings report from Amazon. The Dow fell 0.85 percent, the S&P 500 lost 0.81 percent and the tech-heavy Nasdaq tumbled 1.75 percent.In Eastern Europe pro-Russian militants presented a captured team of international observers as prisoners of war in Ukraine Sunday, adding fuel to the crisis as US President Barack Obama warned Moscow against provocation.Obama said Russia had not lifted a finger to implement a peace deal struck in Geneva on April 17 to ease the crisis. He added that Moscow faced consequences and those consequences will continue to grow.The US and its Western allies are planning a new round of sanctions against Moscow and on Monday Obama said they would target Russian firms and high-tech defence articles.Cathay Pacific Airways eased 0.54 percent to HK$14.76 and HSBC dipped 0.06 percent to HK$78.70, while Internet firm Tencent fell 3.06 percent to HK$507.5 and casino giant Sands China slipped 3.34 percent to HK$59.4.But China Mobile rose 1.59 percent to 70.15 and Petro China was 1.48 percent up at 8.93.In China the benchmark Shanghai Composite Index fell 1.62 percent, or 33.03 points, to 2,003.49 on turnover of 68.5 billion Yuan ($11.0 billion).The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, lost 2.84 percent, or 29.45 points, to 1,007.27 on turnover of 82.2 billion Yuan.The market extended its recent losses fuelled by fears that an expected resumption of initial public offerings will lead to a share glut and soak up capital.At least 122 companies have announced their draft IPO plans, according to reports, with new listings expected next month.The news that IPO reviews will soon resume put pressure on the market, Zheshang Securities analyst Zhang Yanbing told AFP.He forecast the Shanghai index will break below the key 2,000-point level soon, as the government has signalled it will not loosen monetary policy even as the economy slows.Environmental stocks led the declines. Pollution control equipment maker Fujian Longking tumbled 8.57 percent to 25.60 Yuan while Tianjin Capital Environmental Protection Group dropped 3.64 percent to 7.42 Yuan.Coal miners and metal companies sank on concerns about the economy. Shanxi Coking slumped 8.0 percent to 5.16 Yuan and Shanghai Datun Energy fell 3.9 percent to 7.65 Yuan.On the Shenzhen market, technology firms extended losses following a sell-off in US-listed tech shares.Integrated Electronic Systems Lab sank by its 10 percent daily limit to 8.33 yuan and Beijing Trust & Far Technology lost 8.00 percent to 18.40 yuan.

Cloning: Scientists make insulin-producing cells

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PARIS (AFP) - Scientists said Monday they had used cloning technology to make embryonic stem cells that carry a diabetic womans genes, and turned them into insulin-producing beta cells that may one day cure her disease.The team reported clearing an important hurdle in the quest to make personalised stem cells for use in disease therapy, but a bioethicist said the breakthrough also highlighted the need for better regulation of lab-grown embryos.We are now one step closer to being able to treat diabetic patients with their own insulin-producing cells, said Dieter Egli of the New York Stem Cell Foundation (NYSCF), who led the study published in the journal Nature.Egli and a team had transplanted the nuclei of cells taken from the womans skin into human eggs to create stem cells, which they could then coax into becoming beta cells -- a shortage of which causes insulin deficiency and high blood-sugar in diabetics.In doing so, the team confirmed a potentially important source for future cell-replacement therapy.It was not the first study to create stem cells in this way, but it was the first to use cells sourced from a diseased adult person with the aim of producing therapy-specific cells.Insoo Hyun, a bioethicist from the Case Western Reserve Universitys school of medicine in Cleveland, Ohio, said the research, the latest to produce embryonic stem cells that carry the genomes of living people, raised red flags.This repeated cloning of embryos and generation of stem cells, now using cells collected from adults, increases the likelihood that human embryos will be produced to generate therapy for a specific individual, he wrote in a comment carried by Nature.Regulatory structures must be in place to oversee it.Embryonic stem cells -- neutral, primitive cells that can develop into most of the specialised tissue cells of the body -- are viewed as a potential source for rebuilding organs damaged by disease or accident.But they are controversial, as until fairly recently stem cells could only be obtained from human embryos.They can be grown in the lab by transferring the nucleus of a cell from tissue like the skin, which contains a persons DNA, into a human egg from which the nucleus has been removed.The egg is then given an electrical pulse to start dividing until it forms a blastocyst, a hollow, early-stage embryo made up of about 150 cells with the DNA of the donor of the tissue cell.- Cloning technology -Technically known as somatic-cell nuclear transfer (SCNT), the technique is used for therapeutic research but is also the first step in cloning, and was used to create Dolly the sheep.SCNT is banned in many countries.For the new study, scientists in the United States and Israel said they made technical improvements -- altering the chemicals used in the culture in which the cells are grown.The stem cells could in turn be coaxed into becoming various different types of adult cells -- including beta cells, the team said.Seeing todays results gives me hope that we will one day have a cure for this debilitating disease, said NYSCF chief executive Susan Solomon.The same team had previously made beta cells with a similar method, but using eggs with their nuclei still intact -- resulting in stem cells with three sets of chromosomes that could not be used in therapy.But using the new, improved method, the stem cells emerged with the normal two sets of chromosomes, the team wrote.Hyun said such research could raise fears of a future in which human babies are cloned or embryos callously created and destroyed for research, and called for the strengthening of oversight structures.But Solomon said the research was strictly for therapeutic purposes and adhered to strict ethical oversight.Under no circumstances do we or any other responsible scientific group have any intention to use this technique for the generation of humans, nor would it be possible, she told AFP.The beta cells produced in the study cannot yet be used in replacement therapy, the team said.Diabetics immune systems attack beta cells, and ways have yet to be found to shield them.

European stocks rise on AstraZeneca merger battle

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LONDON (AFP) - European stocks rose on Monday with the pharmaceuticals sector and sterling given a shot in the arm by news of US giant Pfizers $100 billion merger offer for British rival AstraZeneca.Drugmakers were lifted also by impressive earnings from Germanys Bayer, and upbeat news from Frances Sanofi.Londons benchmark FTSE 100 index of leading companies advanced 0.25 percent to stand at 6,702.37 points in midday trade.Frankfurts DAX 30 gained 0.69 percent to 9,466.17 points and in Paris the CAC 40 added 0.44 percent to 4,462.79 compared with Fridays closing levels.Pfizer declared on Monday that it wants a blockbuster merger with AstraZeneca to fuel research in cancer, revealing that an informal approach worth almost $100 billion (72 billion euro’s) had been rejected.Pfizer said a tie-up between two of the worlds biggest pharmaceutical groups would help to fight some of the worlds most feared diseases, such as cancer, adding it also benefit the shareholders of both firms.In reaction, AstraZenecas share price surged 15.42 percent to 4,708.5 pence, topping the FTSE riser’s board.Peers GlaxoSmithKline and Shire Pharmaceuticals climbed 0.60 percent and 1.65 percent, to stand at 1,665 pence and 3,263 pence respectively.It was the pharmaceutical sector that was still the talk of the market with GSK, Shire and AstraZeneca all leading the FTSE, said Farhan Ahmad, trader at brokerage Tradenext.Pfizer is still perusing the takeover of AstraZeneca ... With the prospect of one of the largest ever takeovers in the sector, AstraZeneca shareholders could be tempted.Chemicals and pharmaceuticals giant Bayer, maker of Aspirin, added on Monday it turned in a better first-quarter performance than expected thanks to healthy growth driven by new products.Net profit rallied 23 percent to 1.42 billion euro’s ($1.96 billion) between January and March, compared with a year earlier.In reaction, Bayers share price rallied 4.68 percent to 100.25 euro’s in Frankfurt.In Paris, French peer Sanofi revealed it had successfully completed the first of two Phase III clinical studies of a proposed dengue vaccine. That sent Sanofis share price jumping 2.22 percent to 77.85 euro’s.Mondays Pfizer announcement is the latest in a string of merger and acquisition (M&A) activity in the global pharmaceuticals industry in recent weeks.- Sterling soars versus dollar -The merger proposal also boosted the British pound, which was also lifted by expectations of strong first-quarter economic growth data on Tuesday.Sterling jumped to $1.6854, the highest level since November 2009, compared with $1.6798 on Friday.The news that Pfizer has once again attempted to strike a deal with AstraZeneca is having a positive effect on sterling, said Kathleen Brooks, research director at trading site Forex.com.The reaction in the market could be expectation that Pfizer will have to increase its offer for AstraZeneca, perhaps with a larger cash portion of the deal, which could boost sterling.The euro rose to $1.3875 from $1.3832 late in New York on Friday. The European single currency firmed to 82.33 British pence from 82.32 pence.And on the London Bullion Market, the price of gold edged up to $1,302.08 an ounce from $1,301.25 on Friday.- Asian equities stumble -Asian markets were mostly lower following a negative lead from Wall Street, while tensions in Ukraine added to selling pressure.Traders were awaiting the release later in the week of global manufacturing data as well as earnings reports from Japan; while the US Federal Reserve is also due to hold its latest policy meeting.Hong Kong dipped 0.41 percent, Tokyo slipped 0.98 percent, Seoul lost 0.12 percent and Shanghai dived 1.62 percent in value.Before the weekend, Wall Street had fallen on Friday led by the tech-rich Nasdaq after a disappointing earnings report from Amazon. The ongoing crisis in Ukraine also hurt sentiment.

France hits out over 'too high' euro as cuts revolt looms

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PARIS (AFP) - French Prime Minister Manuel Valls moved Monday to head off a threatened revolt within his own party by demanding a loosening of euro zone monetary policy to offset the impact of planned austerity measures.Valls, who is under pressure from fellow Socialists over plans to cut public spending by 50 billion euros ($69 billion) over the next three years, outlined a number of concessions which will reduce the impact of the cuts.And in a move likely to play equally well with the left of his party, he took a swipe at the European Central Bank over the too high level of the euro, which he said was blocking economic recovery.Backed by President Francois Hollande, Valls has proposed the cuts package to ensure France brings its budget deficit into line with EU rules while freeing up funds for reductions in income and payroll taxes designed to boost the sagging economy and generate jobs.But aspects of the plan, particularly freezes on welfare benefits and public sector wages, have angered many within the ruling Socialist Party and some lawmakers are threatening to challenge Vallss authority by refusing to support the package in a non-binding vote in parliament on Tuesday.A decision by 40 Socialists to abstain would be sufficient to put the government in the embarrassing position of having to rely on its centre-right opponents to get the centerpiece of its economic strategy for the next three years endorsed by parliament.In a letter to Socialist MPs, Valls described Tuesdays vote as a moment of truth for France and insisted: We have to stop living beyond our means.But he also detailed concessions to the rebels, including a pledge that the welfare freeze would not be applied to pensioners living on less than 1,200 euro’s a month.Valls also agreed to resume inflation-linked pay rises for the lowest-paid public sector workers and said he would proceed with a revaluation of the minimum level of state income support for the long-term unemployed from this year, rather than delaying the start until 2015 as he had initially proposed.It was unclear how much these amendments would cost but Valls indicated that he was maintaining the overall target of 50 billion euro’s in cuts between 2015 and 2017, when Hollandes five-year term as president ends.- Euro too high -Valls acknowledged the cuts could have a dampening impact in the short term, which he argued could be offset by a more active monetary policy and a more realistic exchange rate policy at the European level.The level of the euro is too high, he said.After it is presented to parliament on Tuesday, the governments economic program will be sent to Brussels for approval by the European Commission, which placed France under surveillance earlier this year over its failure to meet an agreed timetable for bringing its deficit down to three percent of GDP in line with euro zone rules.France now says it will meet that target next year but the economic assumptions on which the government based that prediction were described as optimistic last week by its own spending watchdog.If the Commission takes a similar line, it could ask Paris to outline further measures to reduce the risk of missing the deficit target again.The government is counting on the economy expanding by one percent this year and an acceleration of growth to 1.7 percent next year and at least 2.25 percent in both 2016 and 2017, by which time it anticipates its measures to bolster growth will have taken effect and generated some 200,000 new jobs.Hollande has admitted that his hopes of even being a candidate for re-election in 2017 hinge on the strategy working.Valls too has much riding on the success or failure of an economic plan the government hopes will help French companies address a growing competitiveness deficit and make the country as a whole more attractive for international investors.The most popular figure in the government, the former interior minister was promoted to his current role after the Socialists suffered stinging losses in local elections last month which were largely attributed to the impact of record unemployment and falling real incomes.
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