Wednesday 15 October 2014

Dunya TV

Dunya TV

US, European stocks sink amid economic, Ebola worries

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New York (AFP) - US and European stock markets sank Wednesday in a sea of worry over slowing global growth, a rising risk of eurozone deflation and the spreading Ebola epidemic.Fear gripped investors after poor US economic data raised concerns that the US economy, at the moment a bright spot in the fragile global economy, may be succumbing to the eurozones woes and Chinas slowdown.Wall Street stocks finished a turbulent day in the red, paring losses from a huge midday drop spurred by worries over global economic weakness and the Ebola epidemic.The Dow Jones Industrial Average fell 173.45 points (1.06 percent) to finish at 16,141.74. The blue-chip index had fallen more than 400 points earlier in the session.The broad-based S&P 500 dropped 15.21 (0.81 percent) to 1,862.49, while the Nasdaq Composite Index lost 11.85 (0.28 percent) at 4,215.32.The main indices were in negative territory throughout the session, with swings in stocks accompanied by big moves in other markets. Equity markets in Britain, France and Germany closed more than two percent lower, while yields on US Treasury bonds also sank below key benchmarks before rallying.Londons benchmark FTSE 100 index dived 2.83 percent to 6,211.64, its lowest close since June 2013.Frankfurts DAX 30 lost 2.87 percent and in Paris the CAC 40 sank 3.63 percent.Ultimately we have a heady mix of economic and geopolitical woes... Today has been an assault on all fronts and looking at the bloodbath thats out there, you could be excused for thinking Halloween had come along two weeks early, said Tony Cross, market analyst at Trustnet Direct.- High volatility -We havent seen this level of volatility since 2011, said Tyson McCabe, senior director of advisory services at the Nasdaq Stock Market.There are so many different data points coming in, be it Ebola or some of the weak US data points, that market participants are really struggling with where to get their read from.Wall Street opened sharply lower after the Commerce Department reported US retail sales dropped 0.3 percent in September, the first decline in seven months.US producer prices fell in September for the first time since August 2013, pulled lower by falling energy and food prices, the Labor Department said in a report offering fresh evidence of weak inflationary pressures in the modestly growing economy.The very bad US figures are just adding to all the bad news weve had in Europe over the past few weeks, said Saxo Banque analyst Andrea Tueni.US stock indices then cut their losses but plunged again midday, soon after US health officials warned of more potential Ebola cases after a second health care worker in Dallas was diagnosed with the virus.Continued growth concerns in Europe, heightened geopolitical concerns, resurfacing peripheral eurozone debt worries, and deepening Ebola fears all amplified the palpable negativity emanating from the Street, Charles Schwab said in a market note.- Dollar weakens -In foreign exchange deals, the dollar fell after the weak US data appeared to suggest the Federal Reserve could keep its near-zero interest rate policy longer than the mid-2015 timeline for a rate hike that had been expected.The euro rose to $1.2834 around 2100 GMT from $1.2663 at the same time Tuesday in New York. The dollar fell to 105.91 yen from 107.02 yen the prior day.The price of gold finished at $1,237.50 an ounce on the London Bullion Market from $1,234.75.Investor sentiment in Europe turned sour early Wednesday in Europe after US pharmaceutical firm AbbVie announced that it had decided to reconsider its Shire takeover deal, citing a US crackdown on controversial so-called tax inversions.The new US Treasury rules are designed to curb deals in which US companies merge with foreign businesses to relocate in a lower tax address.Shires share price plunged 21.95 percent in London.Oil markets moderated Tuesdays steep losses. US benchmark West Texas Intermediate for November slipped six cents to $81.78, the lowest closing price since June 2012.The European benchmark, Brent North Sea crude for delivery in November, which had plunged nearly $4 the previous day, shed $1.22 to close at $83.78 a barrel in London.In Asia, stock markets rose Wednesday with bargain-hunters providing some lift after recent losses, while data showing Chinese inflation at a five-year low raised hopes for fresh economy-boosting measures from Beijing.

US calls for 'complete' probe into Hong Kong police brutality

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Hong Kong (AFP) - The United States has called for a swift, transparent and complete investigation into the beating of a handcuffed Hong Kong democracy protester by plainclothes police, as fresh street clashes broke out early Thursday.Television footage of officers assaulting the unarmed protester in a dark corner of a public park has sparked outrage and calls for prosecution from activists and lawmakers in the city.Tensions soared in the former British colony after the video went viral Wednesday, with protesters saying they had lost all faith in the police despite the accused officers being removed from their posts by city authorities.The United States said it was deeply concerned by the police brutality reports.We encourage Hong Kong authorities to carry out a swift, transparent, and complete investigation into the incident, State Department spokeswoman Jen Psaki told reporters.We renew our call for the Hong Kong government to show restraint, and for protesters to continue to express their views peacefully.The Asian financial hub has been rocked by mass rallies for much of the last fortnight calling for full democracy and causing significant disruption to a city usually known for its stability.Protesters are angry at Chinas insistence that it vet candidates standing for election as the citys next leader in 2017, a proposal they have dubbed fake democracy.After weeks of largely ceding control to protesters at three main sites, police have begun probing demonstrator defences in the last few days, tearing down some barricades and sparking running battles.But the city authorities face a bigger backlash after footage was aired showing officers hauling a handcuffed protester to the quiet corner of a protest-hit public park, placing him on the ground and beating him with kicks and punches.It is stomach-churning to think there are Hong Kong police officers that feel they are above the law, Mabel Au, director of Amnesty Hong Kong, said in a statement.The incident has become another public relations disaster for the police, who were severely criticised for firing tear gas on umbrella-wielding protesters on September 28 in a move that attracted worldwide attention.Demonstrators have also accused officers of failing to come to their aid during several attacks by violent pro-government thugs.Prime Minister David Cameron meanwhile said Britain would stand up for Hong Kongs rights and freedoms, including those of person, of speech, of the press, of assembly, while his spokesman later urged police and protesters for restraint.- Fresh clashes -With trust between the government and protesters at an all time low, renewed clashes between police and protesters broke out again in the early hours of Thursday over a contested road near Hong Kong leader Leung Chun-Yings offices.Officers used pepper-spray against defiant demonstrators shouting chants accusing them of links with criminal triad gangs -- but the flurry of violence was brief compared to the night before.Several thousand gathered late Wednesday at the main protest site in Admiralty to hear speeches by protest leaders, who urged demonstrators to stay peaceful in the face of violence.The major thing is people have realised how police become corrupt under a government that doesnt represent the people of Hong Kong, said Kay Wong, 25, a university research assistant.I was shocked at the police violence last night. Who wouldnt be?Police said seven officers had been identified in relation to the video and that they would be reassigned pending an investigation.Hong Kongs justice chief insisted Wednesday that any prosecution of plainclothes officers who were filmed beating a handcuffed protester would be handled impartially, while security chief Lai Tung-kwok sought promised a just and fair investigation, without specifying how many officers were being probed.Following Wednesdays clashes, a Beijing official said China saw no need so far for its army to be deployed to contain the protests.Rumours have frequently swept protest camps that the Peoples Liberation Army, which maintains a garrison in the city, will be deployed if Beijing feels Hong Kong police cannot handle the demonstrations.Hong Kongs richest man, Li Ka-shing, urged protesters to leave the streets, saying they had got their message across.Protests were largely peaceful until the clashes early Wednesday. Although ugly scuffles have broken out between demonstrators and government loyalists, sparking accusations that the authorities are using hired gangsters.Patience with protesters is also running short in some quarters, with shop owners and taxi drivers losing business and commuters voicing irritation at disruptions and delays.

US-led strikes kill 'several hundred' as Iraq, Kurds battle IS

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Washington (AFP) - US-led air strikes on a Syrian border town killed several hundred Islamic State fighters but it may still fall, officials warned Wednesday, acknowledging significant jihadist gains in Iraq and Syria.While Iraqi troops prevented the jihadists from seizing a lynchpin provincial capital near Baghdad, a senior US envoy admitted IS forces have scored important advances in Iraq,John Allen, a retired four-star general and US envoy to the coalition fighting the Islamic State, said it would take time to build up local forces to defeat them there and in Syria.In the border town of Kobane, Kurdish defenders backed by a flurry of US-led air strikes were reported to have stopped IS fighters from gaining ground and even recaptured some positions.US Central Command said American aircraft carried out 18 raids near Kobane over two days, hitting 16 IS-occupied buildings.In Iraq, government forces beat back an hours-long jihadist attack on Ramadi, capital of Anbar province.But Allen warned that the group has made substantial gains and maintained the tactical momentum.President Barack Obama told military chiefs from more than 20 allies that they are facing a long-term campaign -- dubbed Operation Inherent Resolve on Wednesday -- against IS.There are not quick fixes involved. Were still at the early stages, Obama said after the talks in Washington.Obama has expressed special concern for Kobane, which has become a symbolic battleground in the fight against IS, and about halting the IS advance in Iraqs western Anbar province.- Clashes for Kobane HQ -Fresh US-led strikes hit IS positions in Kobane on Wednesday, an AFP reporter across the border in Turkey said, and Syrian Kurds defending the town stood their ground against IS fighters.Pentagon spokesman John Kirby said the strikes killed several hundred ISIL fighters in and around Kobane but that jihadists are pouring into the region and the town could very well still fall.The British-based Syrian Observatory for Human Rights said fighting was concentrated on the former Kurdish military headquarters in northern Kobane, which IS seized Friday.It said Kurdish forces had retaken two nearby IS positions and pushed the jihadists from several streets to its west, but that IS fighters appeared in control of about half the town.NATO member Turkey has stationed troops, tanks and artillery along the border -- in some cases only a few hundred meters (yards) from the fighting -- but has not intervened.It also has yet to allow US jets to mount attacks from its territory, and Turkish Foreign Minister Ahmet Davutoglu said only Syrian refugees could cross into Syria to defend Kobane, rejecting Western calls to open the frontier.We dont let Turkish citizens go into Syria because we dont want them to be a part of the conflict, he told reporters.In Iraq, security personnel and tribesmen repelled a seven-hour assault on Ramadi.IS jihadists attacked from three directions after hitting the city with mortar fire, police Captain Tahsin al-Dulaimi said.The key town of Amriyat al-Fallujah, closer to the capital and one of the last parts of Anbar still holding out against the jihadists, also received reinforcements Wednesday from the Iraqi army.Local forces warned on Tuesday the town was in serious danger, with its police chief saying that if Amriyat falls the battle will move to the gates of Baghdad and the holy Shiite city of Karbala.Its fall would increase the danger to Baghdad, but IS fighters would still have to capture a significant stretch of government-controlled territory before reaching the capital.We do not believe that there is an imminent threat to the security of (Baghdad) right now, Kirby said.Government forces have suffered a string of setbacks in Anbar in recent weeks, prompting some officials to warn that the entire province, which borders Jordan, Saudi Arabia and Baghdad province, could fall within days.- Rising support for US troops -Some officials in Anbar have argued anything short of an intervention by US ground forces would lead to it falling into jihadist hands.Washington has ruled out sending troops back to Iraq to fight IS, but a poll published Wednesday showed a rising number of Americans think US ground forces are needed.Forty-one percent of those surveyed believe the fight should include both air strikes and ground troops, up from 34 percent in September, according to the NBC News-Wall Street Journal poll.IS has seized control of large parts of Syria and Iraq, declaring a caliphate in June and imposing its harsh interpretation of Islamic sharia law.The group has committed widespread atrocities, including mass executions, torture and forcing women and children into slavery.

US resists extension of Iran nuclear talks

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Vienna (AFP) - Iran and the US still aim to strike a mammoth nuclear deal by a November 24 deadline, a US official said Wednesday after talks involving US Secretary of State John Kerry that yielded no apparent major breakthrough.We have not discussed an extension. We believe in keeping the pressure on ourselves, the senior US State Department official said after six hours of very intense discussions in Vienna.If you take the pressure off yourself, then you never have to make hard decisions. Deadlines help people to make hard decisions, and there are hard decisions to be made here. And we must.She added: Everyone has been working incredibly hard... these are incredibly complex negotiations, the detail is extraordinary.Until everything is agreed, nothing is agreed, and you can get 98 percent of the way, and the last two percent may kill the entire deal.It was unclear whether Kerry would resume his talks with Iranian Foreign Minister Mohammad Javad Zarif on Thursday, when Zarif was scheduled to meet with negotiators from six world powers in the Austrian capital.Iran and the six world powers have less than six weeks, until November 24, to strike a comprehensive accord meant to prevent Tehran from developing nuclear weapons under the cover of its civilian atomic programme.Iran, reeling from sanctions, denies seeking to build the atomic bomb and says it wants to expand its nuclear programme in order to generate electricity and help cancer patients.But the powers -- the United States, France, Britain, Russia, China and Germany -- are pressing Tehran to reduce its activities in order to make any dash to make a weapon all but impossible, offering sanctions relief in return.Last November, the two sides agreed an interim deal and set a July 20 target to agree a lasting accord, but after drawn out talks they gave themselves four more months.Progress appears to have been made on changing the design of a new reactor at Arak so that it produces less weapons-grade plutonium, as well as on enhanced UN inspections and on the fortified Fordo facility.The main bone of contention however remains Irans enrichment capacity, a process rendering uranium suitable for power generation but also, at high purities, for a nuclear weapon.Other thorny areas include the pace at which sanctions would be lifted, the timeframe that an accord would cover, and a stymied UN probe into past suspect military dimensions of Irans activities.- More time on the clock -Many analysts have begun to believe that the deadline might be extended again, maybe locking in measures related to Arak and Fordo.A fully-fledged agreement by November 24 no longer appears likely. What is still possible is a breakthrough that could justify adding more time to the diplomatic clock, Ali Vaez from the International Crisis Group told AFP.Russian Foreign Minister Sergei Lavrov said on Monday in Paris -- after meeting Kerry there -- that the November deadline was not sacred, in the strongest suggestion yet from one of the P51 powers.Zarif earlier Wednesday too appeared to indicate that more time might be needed in order to discuss what he called serious and innovative -- but unspecified -- new methods.It is possible that more time might be needed to discuss these solutions, he told state television late Tuesday after talks with US and EU negotiators including Ashton.And Iranian President Hassan Rouhani, who has sought to mend fences with the West since coming to power in 2013, has also indicated such a move.Our will is that in 40 days the matter will be resolved. But if other things happen and we are not able to solve all the problems, the two camps will find a solution, Rouhani said on state television on Monday.

Google unveils 'Lollipop' Android system, major arsenal overhaul

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WASHINGTON (AFP) - Google on Wednesday ramped up its mobile arsenal, upgrading its Nexus line with a new tablet and smartphone, and unveiling its revamped Android software, to be dubbed Lollipop.The US tech giant also announced the launch of a streaming media player for music, movies and videos, which can also allow users to play games via the Android TV device.Lollipop or Android 5.0, the upgraded operating system for mobile, is designed to be flexible, to work on all your devices and to be customized for you the way you see fit, said Google vice president Sundar Pichai, who heads the Android operations.With the new operating system, according to the Android Website, The songs, photos, apps, and even recent searches from one of your Android devices can be immediately enjoyed across all of your Android devices.The new devices give Google and its Android partners a broader portfolio to compete against Apple, which launched two upgraded large-screen iPhones last month and is expected to unveil new iPads on Thursday.The Nexus 6 smartphone becomes the newest and largest of the Google-branded handsets, and is produced by Motorola, which Google bought in 2012 and is in the process of selling to Chinas Lenovo.This aluminum frame device has a six-inch high resolution screen and a 13-megapixel camera.The large screen is complemented by dual front-facing stereo speakers that deliver high-fidelity sound, making it as great for movies and gaming as it is for doing work, Google said in a statement.It also comes with a Turbo Charger, so you can get up to six hours of use with only 15 minutes of charge.On the tablet front, Google partnered with Taiwan-based HTC for the 8.9-inch Nexus 9.The brushed-metal tablet is small enough to easily carry around in one hand, yet big enough to work on, Google said.And since more and more people want to have the same simple experience they have on their tablets when they have to do real work, we designed a keyboard folio that magnetically attaches to the Nexus 9, folds into two different angles and rests securely on your lap like a laptop.Google did not disclose pricing for the devices, but said they would be available for pre-order later this month.The media player will deliver video apps to a television screen for consumers looking to supplement or go without cable or satellite.Some of the apps included on the player are Netflix, Hulu Plus, the Food Network, Pandora and The Huffington Post.

Reeva Steenkamp's death 'ruined family'

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Pretoria (AFP) - Oscar Pistorius ruined our whole family when he killed Reeva Steenkamp, a South African court heard Wednesday, as prosecutors turned the spotlight firmly back on the victim in a last-ditch attempt to secure a prison sentence for the Paralympic athlete.After six months of evidence centred on Pistorius and last years Valentines Day shooting, Steenkamps family had their day in court, painting a picture of a thoughtful, caring young woman whose death felt like the end of the world.Acting as a witness for the prosecution, Steenkamps cousin Kim Martin gave heartfelt evidence about the slain models journey from fun-loving child to victim of a tragedy that ruined our whole family.With the clock ticking down to Pistoriuss judgement day, Gerrie Nel and his legal team are battling to scupper arguments that the double-amputee athlete should only carry out community service for shooting dead his girlfriend after he said he mistook her for an intruder.Pistorius, 27, was found guilty last month of culpable homicide over the killing of the 29-year-old law graduate, but was acquitted of murder.In Wednesdays sentencing hearing, Nel warned that justice itself was on trial and that if the star sprinter was seen to go free, South Africans would lose confidence in the legal system.Slamming the defences suggestion of community service shockingly inappropriate, Nel warned that if the court sentence is too light, and society loses trust in the court, they will take the law into their own hands.Judge Thokozile Masipa could issue a sentencing decision as early as Friday, with her options ranging from a fine to 15 years in prison.Nel on Wednesday sought to tip the scales of justice by putting the former model and reality TV star centre stage.I must be Reevas voice, the cousin said, breaking down on the stand as she explained that Steenkamps parents had encouraged her to speak on behalf of their daughter.I had to do this for Reeva, I owe it to her.She recalled Reeva was the first baby she ever held, and recounted a joyful shared childhood filled with horse-riding, school homework and time with family.Martin said the young Steenkamp once cared for a paralysed poodle named Jade that she carried around, serving as its legs.As Martin recounted her cherished memories, Steenkamps father Barry, who suffered a near-fatal stroke after Reevas death, wept in court, his shoulders shaking.Pistorius sat in the dock, also wiping away tears.Martin said she was in a car when she heard on the radio that Pistorius had allegedly shot his girlfriend.I remember saying to my husband: I hope to God hes cheating on Reeva.But when Martin saw her distraught mother she knew it was not so. For me it was the end of the world, she told the court.- Blood money -The defence has warned that a jail term would break the star sprinter -- who inspired millions when he became the first double amputee to compete in the able-bodied Olympics -- and that he could fall victim to prison violence, including gang rape.Without legs he will be vulnerable and a lot more vulnerable than the normal man, said probation officer Annette Vergeer.The athlete admits that he shot Steenkamp four times through a bathroom door at his upmarket Pretoria home, saying he mistakenly believed she was an intruder.Earlier Wednesday lawyers for Steenkamps family expressed shock that Pistoriuss defence team revealed details of secret blood money payments in court.Pistorius had reportedly offered the family a one-off payment of nearly $35,000, which had been rejected, but had given them $540 a month.In a statement on behalf of Steenkamps parents, lawyers said they had honoured a request from the athlete not to reveal the payments.We were therefore quite surprised yesterday when this fact was disclosed in court without any prior warning to us, the statement said.Steenkamps parents have said they will repay the roughly $10,000 received from Pistorius as soon as arrangements can be made in that regard.It was always the intention of the parents that the amounts... would be set off against any civil claim that they were going to institute, the statement said.The parents have decided not to continue with a civil claim.

US Treasury: China does not manipulate currency

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Washington (AFP) - The US Treasury said Wednesday that China does not manipulate its currency, but pushed Beijing to do more to focus on domestic demand, not exports, to drive economic growth.The US Treasury said Wednesday that China does not manipulate its currency, but pushed Beijing to do more to focus on domestic demand, not exports, to drive economic growth.In a twice-yearly report to Congress, which would set sanctions on any country officially branded a manipulator, the Treasury said the yuan, or renminbi (RMB), had partially recovered from a sharp plunge earlier in the year and appreciated by 1.9 percent since late April.

Global economic growth embraces uncertainty,speculation

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Paris (AFP) - World markets took fright on Wednesday at new US data underscoring the fragile state of the global economy, sending the main European exchanges tumbling to lows not seen in a year.Wall Street opened sharply lower after the Commerce Department reported US retail sales dropped 0.3 percent in September, the first drop in seven months, raising concerns even US growth may catch the cold that has hit Europe.Londons benchmark FTSE 100 index lost 2.83 percent to 6,211.64 points, closing at its lowest level since June 2013, with Shire Pharmaceutical shares devastated by the chilling news that US giant AbbVie would review its $54 billion takeover bid.The worrisome economic data on both sides of the Atlantic sent Frankfurts DAX 30 down 2.87 percent to close at 8,572.15 points, a low not seen since October last year.In Paris the CAC 40 sank 3.63 percent to 3,939.72 points, falling below the 4,000 mark for the first time since the summer of 2013.After an initial decline on disappointing retail sales, Wall Street quickly sought to cut the losses.The Dow Jones Industrial Average stood at 16,180.17 points, down 0.83 percent after 40 minutes of trading.The broad-based S&P 500 shed 0.84 percent to 1,862.33 while the tech-rich Nasdaq Composite Index lost 0.64 percent at 4,201.54.The very bad US figures are just adding to all the bad news weve had in Europe over the past few weeks, said Saxo Banque analyst Andrea Tueni.Other European markets followed the downward trend at the close with Milan falling 4.44 percent, Madrid off 3.59 percent, and the Athens exchanges main index dropping 6.25 percent over investors concerns about plans to end its IMF programme early.Ultimately we have a heady mix of economic and geopolitical woes... Today has been an assault on all fronts and looking at the bloodbath thats out there, you could be excused for thinking Halloween had come along two weeks early, said Tony Cross, market analyst at Trustnet Direct.Eurozone countries were scheduled to submit their budgets to Brussels on Wednesday with Paris heading for a showdown over its 2015 budget which exceeds the EU deficit ceiling with an expected shortfall of 4.3 percent of annual economic output.In foreign exchange deals, the euro rose to $1.2789 from $1.2663 late on Tuesday in New York, as investors interpreted the retail sales slowdown as pushing back the likely date of a interest rate hike from the US Federal Reserve.The euro also rose to 80.10 British pence from 79.58 pence late on Tuesday, while the pound climbed to $1.5965 from $1.5912.The price of gold finished at $1,237.50 an ounce on the London Bullion Market from $1,234.75.- AbbVie deal under threat -Investors sentiment turned sour early Wednesday in Europe after AbbVie announced overnight that it had decided to reconsider its Shire takeover deal, citing a US crackdown on tax inversions.The new US Treasury rules are designed to curb deals in which US companies merge with foreign businesses to relocate in a lower tax address. The loophole had threatened to slash the governments income.Shires share price plunged 21.95 percent to close at 4,012 pence in London trading.News that AbbVie may not proceed with the Shire merger has sent the pharmaceuticals sector lower, but Shire is in an absolute tailspin, said Valutrades analyst Joao Monteiro.Oil prices also hit fresh multi-year lows on Wednesday as traders eyed plentiful crude supplies and demand fears arising from the weak global economic outlook.Brent crude tumbled to $83.37 per barrel -- the lowest level since November 24, 2010.In later deals, Brent North Sea crude for delivery in November stood at $84.89 a barrel, down 18 cents compared with Tuesdays close.US benchmark West Texas Intermediate (WTI) for November was down 13 cents at $81.71.Anglo-Dutch energy giant Royal Dutch Shell saw its A share price close down 2.76 percent to 2,114 pence while peer BP shed 2.33 percent to 416.70 pence.And in Paris, shares in French oil and gas group Total slid 4.50 percent closing at 42.755 euros.- Asian stocks advance -In Asia, stock markets rose Wednesday with bargain-hunters providing some lift after recent losses, while data showing Chinese inflation at a five-year low raised hopes for fresh economy-boosting measures from Beijing.They were reacting to Wall Streets rally on Tuesday thanks to some solid earnings reports.Tokyo bounced back 0.92 percent after five days of losses, helped by a weaker yen which boosts exporters, while Shanghai won 0.60 percent and Hong Kong climbed 0.40 percent.

France faces EU budget showdown

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Brussels (AFP) - France headed for a showdown with the EU over its 2015 budget Wednesday with deficit-ridden Paris under threat of becoming the first country to have its spending plans rejected by Brussels.Eurozone countries have until midnight to submit their draft budgets to the European Commission and all eyes are on France, considered the new sick man of an increasingly unhealthy Europe.Paris announced last month that next years budget deficit -- the shortfall between revenue and spending -- will hit 4.3 percent of annual economic output, far above the 3.0-percent ceiling set by the European Union for member states.In a stark warning, the government of French President Francois Hollande said the deficit would not drop to this level until 2017.Recession-hit Italy is also under the EU microscope, with the cabinet of Italian Prime Minister Matteo Renzi set to meet just hours before the Brussels deadline to discuss Romes budget.The European Commission, the EUs executive branch, has two weeks to decide whether countries budget submissions break the rules.- Reform plans -As Brussels waited for the budget plans, Frances economy minister Emmanuel Macron announced a flurry of reforms geared to send the message that Paris was serious about pushing through tough reforms.The measures include breaking open highly protected sectors to wider competition and a wave of state company privatisations.But the pledges would not be included in the 2015 budget, setting up a major test of the EUs resolve to apply the rules to the blocs second-biggest economy and a founding member.French officials earlier this week said the budget sent to Brussels would not deviate from the already announced numbers.The Commission has newly acquired powers to enforce the deficit limit, and could send the budget back to Paris in an unprecedented demand by Brussels for changes to a national spending plan.Failure to reach a deal could also alarm financial markets and cause a political crisis at a time when the worlds eyes are already watching for the possibility that Europe could slip back into a triple-dip recession.Germany, the EUs most powerful country, is thought to be working behind the scenes to give Paris a way to avoid disgrace at the EU, while also securing a far firmer commitment to reform.Hollandes Socialist government, which is hugely unpopular and faces the growing influence of the extreme right, has sent very mixed messages at the calls to do more to respect the agreed eurozone budget rules.We decide the budget, Prime Minister Manuel Valls said on Saturday as he warned his European partners to respect France, a big country.- Far-right leader -But Marine Le Pen, the French far right leader, raged on Wednesday that Frances budget sovereignty no longer existed.On the other hand, some EU countries are concerned that France will benefit from a double standard, with smaller countries facing Brussels wrath even as big countries get off lightly.There can be no favouritism, the rules are the same for everyone, Spanish Economy Minister Luis de Guindos said on Monday.Analysts predicted France will put forward extremely technical arguments as well as the new promises of reform.Capital Markets in London said that the submission of a budget flouting EU rules will be a key test of EU authorities resolve.At a meeting of eurozone ministers on Monday, Sapin hinted that EU-friendly amendments could be made in the French parliament which is currently reviewing the budget.France also announced major cuts in defence spending, including the scrapping of an artillery regiment and the loss of 7,500 jobs.In Rome, Renzi is walking a tightrope between defending Frances stance and keeping in the good graces of the Commission as Italy also fails to meet its fiscal targets.The budget forecasts the public deficit will come in at 2.9 percent in 2015 -- under the 3.0 percent EU ceiling and a marginal reduction of 0.1 percent on the 2014 figure, but considerably less than the 0.5 percent reduction requested by the Commission.

Suarez receives top scorer award from Dalglish

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Barcelona (AFP) - Barcelonas Luis Suarez received the Golden Boot award as Europes top scorer last season from Kenny Dalglish, who signed him for Liverpool in 2011, on Wednesday.The Uruguayan scored 31 times to help Liverpool into second in the Premier League.Now with Barcelona, the 27-year-old shared the award with Real Madrids Cristiano Ronaldo, who ended the campaign with the same tally.Suarez, who is due to end his four month World Cup biting ban against Real on Saturday week, said: I want to thank all the most important people in my life, my wife and my children.And of course everyone at Liverpool - all my colleagues, not just last year but over the whole three and a half years I was at the club.They were spectacular years and it was thanks to this man here (Dalglish) that they signed me, that they noticed me.Now I am moving on to a new period, and I have to enjoy this next stage of my life - it is a dream come true.His former boss at Anfield Dalglish was asked how he though Suarez would get on at the Nou Camp.The Scot replied: I dont think there will be anybody who will be able to stop him.He has been fantastic everywhere he has been - a huge success and fabulously entertaining. There is no reason why he wont continue that for Barcelona.But if he does hit a problem, Im sure we can take him back on loan.Asked if he was 100 per cent ready for the Real match, he said: If you had asked me that a week ago, before the two games with Uruguay, I may have had doubts.But I have played in those two (friendly) games and I am probably in better condition than I thought I was. So I think I can say now, yes, 100 per cent, I am ready to play.

McDowell makes winning start

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London (AFP) - Graeme McDowell said he was eyeing more major success after the increasingly focused Northern Irishman made a winning start to the defence of his World Match Play title on Wednesday.McDowell, who came from three down to beat Jordan Spieth 2 and 1 in the opening singles match of Europes Ryder Cup win over the United States at Gleneagles last month, was again out first at the London Golf Club in Kent.But his latest match did not cause anything like as many problems for McDowell, who saw off-in form Frenchman Alexander Levy, the winner of the rain-shortened Portugal Masters last weekend, 3 and 2.Four birdies in the first six holes gave McDowell a comfortable lead which he never looked like surrendering, despite Levy keeping the match alive with a birdie of his own on the 13th hole.McDowell retained his French Open title earlier this season and won all three of his matches at Scotlands Gleneagles course.However, the 2010 US Open champion said the past few years had not seen him as focused on golf after he got married last year and became a father for the first time in August.I think youre seeing a turnaround in my commitment level to the game, said the 35-year-old McDowell.For two years I havent been as focused, but for all the right reasons. Getting married and having a baby are special times in the life of anyone, added the Northern Irishman.But I genuinely believe I can work harder than I have been and I think Ive turned a corner in that regard. I realise that I want to win more majors and more tournaments around the world and Im more focused now than I have been in a long time.McDowells Ryder Cup partner Victor Dubuisson also prevailed over Spains Pablo Larrazabal at The London Club but there were defeats for Jamie Donaldson and Stephen Gallacher, who also played in the victorious European team, while Henrik Stenson halved his match with George Coetzee.Patrick Reed of the United States, unbeaten on his Ryder Cup debut, went down 2 and 1 to Swedens Jonas Blixt while Thailands Tongchai Jaidee, last years runner-up, beat Italys Francesco Molinari by two holes.But Wednesdays losers can still qualify for Saturdays quarter-finals as they each have two more group matches to come before the knockout phase, with the top two each of the four groups advancing to the last eight.

Sit-in won't end even if it snows here: Imran Khan

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ISLAMABAD (Dunya News) – Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Wednesday slammed human rights organizations saying that those criticizing the sit-in protests should be ashamed of themselves. He said former president Asif Ali Zardari should come to the container and see how people give money to PTI, Dunya News reported.Addressing the ‘Azadi March’ participants, Imran Khan said that those criticizing PTI were silent over violation of women’s rights and drone attacks.He said sit-in protests brought awareness among the people and did not cause any loss.PTI chief reiterated his allegations that the rulers are sitting in power after mutual agreements.He said PTI will establish the system of justice and fair play in the country after coming into power.Khan said if Zardari came to the container then he will know how people donate money to PTI.

Membership of 212 lawmakers suspended for not disclosing assets

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ISLAMABAD (Dunya News) – The Election Commission on Wednesday suspended memberships of two hundred and twelve lawmakers for not disclosing their asset details. The suspended lawmakers will not be able to participate in any proceedings of Senate or the National Assembly, Dunya News reported.At many as two hundred and twelve members of Parliament and provincial assemblies including two members of the Senate and forty members of the National Assembly failed to submit the record.The notification of suspension has also been issued, rendering them unable to partake in the parliamentary proceedings.Amongst the suspended lawmakers, ninety eight members are of Punjab Assembly and nine of Balochistan Assembly, twenty eight from Sindh Assembly whereas thirty three members are of Khyber Pakhtunkhwa assembly.Danial Aziz, Qayyum Soomro, Awais Laghari, Ghulam Rabbani, Shagufta Jamani, Jaafer Iqbal and Pir Sadrul Din are also among the suspended members.

Female trainee officer burned to death at Audit and Accounts Hostel Lahore

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LAHORE (Dunya News) – A female trainee officer was mysteriously burned to death as result of fire at the Audit and Accounts Hostel in Lahore, Dunya News reported.The security guard outside the hostel alerted the rescue and police officials after he saw smoke rising from the room of trainee officer Nabiha Chaudhry who was being trained at the Audit and Accounts Academy Lahore and resided in the hostel situated at Guru Mangat Road Gulberg area.The police and rescue officials reached the site and tried to open the door but the door was locked from inside. The police then broke the door and upon entering, discovered the scorched dead body.The police took the dead body into custody and sent it for the autopsy.Nabiha’s friends said that she would never commit suicide .The police also recovered a bottle of petrol from the room.According to the preliminary investigation, the police termed the death as suicide.The commissioner Lahore said that nothing can be ruled out until the final autopsy report arrives.The initial investigation revealed the Nabiha’s mother was a teacher and her father had been murdered.

Governor Punjab signs Local Government Amendment Ordinance

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LAHORE (Dunya News) – The governor Punjab Chaudhry Muhammad Sarwar on Wednesday signed the Punjab Local Government (Second Amendment) Ordinance 2014, Dunya News reported.The Election Commission of Pakistan (ECP) has been given the authority of demarcation and preparation of electoral list.Punjab government has issued the ordinance after the signature and Dunya News has already obtained and published its copy.As per the Ordinance, the ECP has been authorized to carry out demarcation in the municipal committees, corporations and district councils. ECP has also been authorized to prepare the electoral list. The commission will also be responsible to update the lists.The Election Commission will form the wards for the general seats of municipal committees and will also carry out delimitations of the union councils.The conflict arising of delimitation matters will be settled as per the federal law. The method of appeals will also be as per the federal law.The Punjab government decided to issue the Ordinance after Supreme Court’s Order.
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