Saturday 17 January 2015

Dunya TV

Dunya TV

Swiss central bank defends franc move despite turbulance

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GENEVA (AFP) - Switzerlands central bank on Saturday defended its shock decision to let the franc soar, insisting that the subsequent turbulence rocking global markets and the Swiss economy since the move would eventually subside.This was not an easy decision... (but) we are convinced it is the right one, Swiss central bank chief Thomas Jordan said in an interview published in Swiss dailies Le Temps and NZZ on Saturday.The head of the Swiss National Bank (SNB) has faced widespread criticism both at home and abroad after the banks bombshell announcement Thursday that it was abandoning the minimum rate of 1.20 francs against the euro that it had been defending for more than three years.The Swiss franc has since gained around 20 percent against other currencies and is now trading at near parity with the euro.The franc is significantly overvalued compared to the dollar and the euro, Jordan acknowledged, noting that the bank had introduced negative interest rates that, in time, would help drive the value of the overheated currency back down.He hinted that the bank might consider future interventions if the situation did not stabilise.In the meantime, the soaring franc has caused panic on global markets, bankrupted foreign exchange traders as far away as New Zealand, and was seen as a significant threat to Switzerlands export-dependant economy.The Swiss stock exchanges main SMI index has plunged more than 14 percent since Thursdays announcement.The decision is also expected to deliver a severe blow to the Swiss economy, with banking giant UBS slashing its growth forecast for this year to just 0.5 percent from its previous estimate of 1.8 percent.The yield on Swiss 10-year bonds has meanwhile entered negative territory for the first time, with the result that lenders will now have to pay to lend money to the country. Feared losing controlThe strong franc is threatening the entire Swiss system, the Tribune de Geneve daily said Saturday, adding: The future looks dark.Jordan said Switzerlands central bankers had unanimously agreed to scrap their long campaign to hold down the franc after determining that continuing put the bank at risk of losing control of its monetary policy in the long term.We were aware that this decision could have a major impact on markets, he said, while adding that the markets should gradually stabilise -- (although) it could take time.The SNB had been defending the exchange rate floor since September 2011 in an effort to protect the countrys vital export and tourism industries.It has bought massive quantities of foreign currencies to do so, allowing its euro reserves to balloon tenfold in just four years.The rate was introduced as the eurozone crisis sent investors scurrying to the safe haven currency. More recently, the Russian ruble crisis put renewed pressure on the franc.Jordan insisted that the efforts to rein in the franc were no longer justified since the Swiss economy was far more robust than in 2011.We gave the Swiss economy time to adapt to the new situation, he said, stressing that the currency cap from the beginning was supposed to be an exceptional and temporary measure.It was always meant to be abandoned. SNB not all-powerfulNow that the cap was gone, Jordan acknowledged that the economic situation in Switzerland is more difficult.But, he noted, SNB cannot fulfil all wishes with its monetary policy. It is not all-powerful.His comments were unlikely to win over Swiss businesses bracing to see exports plunge and shoppers at home flood across to neighbouring eurozone countries for cheaper goods.Making products in Switzerland and selling them abroad is currently the worst possible scenario, Syz analyst Jerome Schupp told TDG.The boss of a small watchmaking company, H. Moser & Cie, underlined the impact of the SNBs move in an open letter to Jordan, warning that he may have to move his business to Germany.Over 95 percent of our watches are sold to people outside of Switzerland, and the first retailers called the same day to cancel orders, Edouard Meylan wrote.Switzerlands tourism industry, already hit by a lack of snow, was also bracing for mass cancellations as already pricy ski resorts suddenly became far more expensive for foreign visitors.Tourists arriving in Switzerland on Friday were less than thrilled.With an exchange rate like that, we wont be coming back to Switzerland anytime soon, a Scottish tourist in his 60s who gave his name only as Bornsadi told AFP as he arrived at the Geneva airport Friday for a weeks holiday.

Top-seeded Djokovic 'not well' on eve of Australian Open

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MELBOURNE, Australia (AP) -- Top-seeded Novak Djokovic was forced to cancel a training session due to an undisclosed illness or injury on the eve of the Australian Open.A spokesman for the International Tennis Federation, which handles media relations for the ATP Tour at Grand Slam tournaments, said Sunday that Djokovic was not well on Saturday and that he canceled his practice session at Melbourne Park and a pre-event press conference.The Serbian star scheduled another training session for Sunday afternoon.Djokovic, a four-time winner of the Australian Open, is not scheduled to play his first-round match until Tuesday against Slovenian qualifier Aljaz Bedene of Slovenia.

Obama to seek tax increases on wealthy to help middle class

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WASHINGTON (AP) -- President Barack Obama will call for increasing taxes on the wealthiest Americans then using the revenue to fund new tax credits and other cost-saving measures for the middle class in his first address before a Republican-led Congress.The presidents proposals are likely to be cheered by the Democratic Partys liberal base, but the tax increases are all but certain to be non-starters with the new Republican majority in Congress.Obama will announce the tax proposals Tuesday night in his State of the Union address. Senior administration officials disclosed details Saturday on the condition of anonymity because they were not authorized to discuss the proposals by name ahead of the president.The presidents address will also include calls for lawmakers to make community college free for many students, increase paid leave for workers and enact broad cybersecurity rules.The centerpiece of the presidents tax proposal is an increase in the capital gains rate on couples making more than $500,000 per year to 28 percent, the same level as under President Ronald Reagan. The top capital gains rate has already been raised from 15 percent to 23.8 percent during Obamas presidency.Obama also wants to require estates to pay capital gains taxes on securities at the time theyre inherited. Officials said the overwhelming impact of the change would be on the top 1 percent of income earners.While Republican leaders have said they share Obamas desire to reform the nations complicated tax code, the party has long been opposed to many of the proposals the president will outline Tuesday. For example, most Republicans want to lower or eliminate the capital gains tax and similarly want to end taxes on estates, not expand them.Administration officials pointed to a third proposal from the president as one they hope Republicans would support: a fee on the roughly 100 U.S. financial firms with assets of more than $50 billion.Raising the capital gains rate, ending the inheritance loophole and tacking a fee on financial firms would generate $320 billion in revenue over a decade, according to administration estimates. Obama wants to put the bulk of that money into a series of measures aimed at helping middle-class Americans.Obamas call for higher taxes on the wealthy could further antagonize Republicans who are already angry with the president over his vows to veto several of the partys priorities, including legislation to approve construction of the Keystone XL oil pipeline, make changes to the presidents signature health care legislation and block his executive actions on immigration.Republicans say Obamas veto threats are a sign of a president who didnt get the message from voters who relegated his party to minority status in the November election.Beyond rolling out new proposals, Obamas address is also expected to focus on making the case to the public that recent economic gains represent a real and lasting recovery.Obama isnt expected to make any major foreign policy announcements. He is likely to urge lawmakers to stop the pursuit of new penalties against Iran while the U.S. and others are in the midst of nuclear negotiations with Tehran.The president also is expected to cite his recent decision to normalize relations with Cuba, as well as defend the effectiveness of U.S. efforts to stop Russias provocations in Ukraine and conduct air strikes against Islamic State fighters in Iraq and Syria.

US judge wants stay in American teen's trial over mom's killing in Bali

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CHICAGO (AP) -- A Cook County judge is asking an Indonesian court to delay a trial for a Chicago-area teen accused of killing her mother on the resort island of Bali.Judge Neil Cohen signed an order Friday requesting a short stay of 19-year-old Heather Macks trial so she can find a new defense attorney.Cohen had ruled earlier Friday that Mack can use some of her trust fund money for her defense.Separate trials began in Indonesia on Wednesday for Mack and her boyfriend, 21-year-old Tommy Schaefer.Theyre charged with premeditated murder for the death of 62-year-old Sheila von Wiese-Mack, whose badly beaten body was found in a suitcase inside the trunk of a taxi at a Bali resort in August.They could face the death penalty if convicted.

Researchers puzzled by discovery of 1882 Winchester rifle

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RENO, Nevada (AP) -- Researchers are trying to crack the mystery surrounding the discovery of a weathered, rusted Winchester rifle in the mountains of remote eastern Nevada.The gun manufactured in 1882 was found leaning against a juniper tree on a rocky outcrop in Great Basin National Park during an archaeological survey in November.Nichole Andler, the parks chief of interpretation, said officials may never know when the .44-40 rifle was placed there, but its possible it could have been left undisturbed since the 1800s.The area along the Utah border has a history of mining, ranching and hunting, she said, and park researchers are scouring historical documents to learn who might have owned the rifle.I would say the possibilities are wide open as to who owned the rifle and why it was left there, Andler said. It leaves a lot to the imagination and it may be a mystery thats never solved.Herbert Houze is the former curator of what became known as the Cody Firearms Museum at the Buffalo Bill Center of the West in Cody, Wyoming.He said Winchester Model 1873 rifles such as the one found in Nevada were so valuable that he thinks whoever owned it leaned it against the tree and then was unable to find it.You just dont leave a gun like that there, he said.The rifles, which sold for $35 to $50 in the 1880s, now can fetch up to $15,000 in excellent condition. They were among the most popular guns on the Western frontier.After viewing photographs of the rifle, Houze said, he knows why it went undetected for so long: It blended in so well with its surroundings.People probably have walked right by it, he said. It was a one in a million chance they looked at it the right way and found it.The unloaded rifles wooden stock was cracked but still intact, while its barrel was rusted. Its serial number was still visible, which allowed experts at the Buffalo Bill Center to determine it was made in 1882.Houze says hes thrilled by what he called the rare find in Nevada, which will eventually go on permanent display at the park.Its one of the most exciting gun discoveries Ive ever heard of, he said. Im just tickled pink the gun got found.

Indonesia executes 6 drug convicts, including 5 foreigners

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JAKARTA, Indonesia (AP) -- Indonesia executed by firing squad five foreigners and an Indonesian woman convicted on drug trafficking charges despite appeals to spare them, with the government defending the action as necessary to combat the rising drug trade.Four men from Brazil, Malawi, Nigeria and the Netherlands and the Indonesian woman were shot to death simultaneously in pairs just after midnight Saturday, several kilometers (miles) from a high security prison on Nusakambangan island. The other woman from Vietnam was executed in Boyolali, according to Attorney General Offices spokesman Tony Spontana. Both areas are in Central Java province.Their bodies were brought from the island by ambulances early Sunday either for burial or cremation, as requested by relatives and representatives of their embassies.President Joko Widodo in December rejected their clemency requests. He also refused a last-minute appeal by Brazilian President Dilma Rousseff and the Dutch government to spare their countrymen Brazilian Marco Archer Cardoso Moreira, 53, and Ang Kiem Soe, 52, who was born in Papua but whose nationality is Dutch.Dutch Foreign Minister Bert Koenders said in a statement late Saturday he had temporarily recalled the countrys ambassador to Indonesia and summoned Indonesias representative in The Hague to protest Angs execution. He said it was carried out despite King Willem-Alexander and Prime Minister Mark Rutte personally contacting Widodo.He called the execution a cruel and inhumane punishment ... an unacceptable denial of human dignity and integrity.Indonesias Attorney General Muhammad Prasetyo has said there is no excuse for drug dealers and, hopefully, this will have a deterrent effect.Prasetyo said the new government had a firm commitment to fight against drugs and Widodo has said he would not grant clemency to 64 drug convicts on death row.What we do is merely aimed at protecting our nation from the danger of drugs, Prasetyo told reporters Thursday. He said figures from the National Anti-Narcotic Agency showed 40 to 50 people die each day from drugs in Indonesia.He said that drug trafficking rings have spread to many places, including remote villages where most victims are youngsters of productive age. Indonesia has become the largest drug market in Southeast Asia with 45 percent of the regions drugs in circulation.A second batch of executions would be held later this year and also target drug smugglers, he warned.Indonesia, a sprawling archipelago of 250 million people, has extremely strict drug laws and often executes smugglers. More than 138 people are on death row, mostly for drug crimes. About a third of them are foreigners.Brazilian Moreira was arrested in 2003, after police at Jakarta airport found 13.4 kilograms (29.5 pounds) of cocaine hidden in his hang glider. A second Brazilian national, Rodrigo Muxfeldt Gularte, remains on death row in Indonesia, also convicted of drug trafficking.Soei was arrested near Jakarta in 2003, after police found equipment which they estimated had been producing 15,000 ecstasy pills a day for three years. Police confiscated 8,000 pills and thousands of dollars.The others who were executed were Namaona Denis, 48, from Malawi; Daniel Enemuo, 38, from Nigeria, and Indonesian Rani Andriani.Tran Bich Hanh of Vietnam asked authorities to let her face the firing squad uncuffed as one of her last wishes, Spontana said.

Groom suffocates to death on wedding night

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GUJRANWALA (Daily Dunya) – Groom who was just about to start newly wedded life suffocated to death on Saturday.According to details, 28-year-old Khurran Waqar had married Sumaira in Faisalabad and had come home with spouse in Gujranwala.On the first night, the couple fell asleep with the coal firepot on that caused suffocation in the room.Groom’s family members had to break open the door and enter the room in the morning after the couple failed to respond. Both bride and groom were unconscious and were rushed to the hospital where the groom was pronounced dead.The bride is still in critical condition in intensive care unit (ICU) fighting for her life.Urdu version of this story appeared in Daily Dunya on January 18, 2015

11 including Maulana Abdul Aziz booked for loudspeaker abuse

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ISLAMABAD (Daily Dunya) – At least 11 clerics including Lal Masjid orator Maulana Abdul Aziz have been booked for misusing loudspeaker.According to the police, the clerics have been booked in Aabpara and I-9 police stations under the Loudspeaker Act.Abdul Aziz has already been booked for criminal intimidation charge and also has an arrest warrant pending police proceeding.Urdu version of this story appeared in Daily Dunya on January 18, 2015

Teenager commits suicide after 'failure in love'

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LAHORE (Daily Dunya) – An 18-year-old local resident of Lower Mall area ended his life by taking poisonous pills over failure in love.According to the details, 18-year-old Kamran, son of labourer was in love with a girl in the neighbourhood but her family did not approve.Reportedly, Kamran came home and asked his parents to convince girl’s family of the match but his parents refused. Kamran left the home in anger and ended his life by taking poisonous pills.Urdu version of this story appeared in Daily Dunya on January 18, 2015

Prime accused behind 2010 attack on Qadianis sentenced to death on 7 counts

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LAHORE (Daily Dunya) – The anti-terrorism court of Lahore on Saturday ruled on Qadiani worship places attack case in which it sentenced prime accused Muawia to death on seven counts and life in prison on another two counts, while another accused Abdullah was sentenced to life in prison on 9 counts.Both men pronounced guilty belonged to banned terrorist outfit Tehreek-e-Taliban Pakistan (TTP). Other than the death penalty and life in prison sentences, both men were fined Rs 3.3 million each.According to the details, TTP had stormed two worship places belonging to the Qadiani minority group in 2010 and had claimed responsibility. The law enforcement institutes had taken Muawia and Abdullah into custody and both men were prosecuted in special anti-terrorism court in Lahore.At least 94 were killed and over 100 were wounded in a terrorist attack on Qadiani prayer houses in 2010.Urdu version of this story appeared in Daily Dunya on January 18, 2015

Interior Minister Ch Nisar admits govt's incompetence in petrol crisis

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ISLAMABAD (Dunya news) – Even though it is a bit late, but Interior Minister Chaudary Nisar on Saturday finally admitted the government’s incompetence in the petrol crisis that has rocked Pakistan. He admits that government should have dealt necessary measures in order to prevent the current crisis. He stated that he was ashamed to see the long queues of cars at petrol stations.He expressed these views in a press a conference.According to the details, Interior Minister Nisar admitted he felt huge embarrassment when he saw the long queues of cars. He stated previously such queues were seen during the gas crisis as well.Islamabad, Rawalpindi to Lahore and even in Multan people are constantly asking the same question: where can I get petrol? People were seen pushing their motorbikes and cars towards the petrol pumps. The stations where petrol was available, people could be seen holding bottles or any sort of containers just to get some petroleum.People were greatly irked by this crisis as they constantly searched for the precious petrol for their vehicles. Fights erupted as people got frustrated. Ambulance services and rescue operations were greatly affected by this crisis. 40 ambulance vehicles are standing idly in Edhi’s zonal offices in Lahore. Working women faced greatly difficulty in reaching their offices. School kids faced problems in going to school and coming back home.Same situation was seen in Lahore, Faislababd, Multan, Rahim Yar Khan, Bhalwal and Dera Gazi Khan as people couldn’t hold back their frustrations and fights erupted.

JI wants bloodbath in Karachi, alleges Altaf Hussain

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KARACHI: (Dunya News) – Muttahida Qaumi Movement (MQM) chief Altaf Hussain on Saturday alleged that Jamaat Islami (JI) wanted bloodbath in Karachi, reported Dunya News. “JI wants Karachi to be soaked in blood”, he alleged.Addressing an MQM ceremony via video link in Lal Quila Ground regarding changing world situation and interfaith harmony, Altaf Hussain said that attacks on Army Public School, mosques, shrines and places of worship were condemnable however, entire nation stood firm with the army in its war against terrorism.Altaf Hussain said that he was the first in Pakistan to condemn publishing of blasphemous cartoons and no words could be enough to condemn the act but burning down national assets in the name of protest was uncalled for.

Don't give me protocol in future, Imran tells Khattak

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ISLAMABAD: (Dunya News) – After taking a lot of criticism for his heavy protocol on the visit to Army Public School (APS) Peshawar last Wednesday, Chairman Pakistan Tehreek-i-Insaf (PTI) Imran Khan has written a letter to Chief Minister Khyber Pakhtunkhawa (KP) Pervez Khattak directing him to avoid providing him with any protocol in the future. He also asked him in the letter to direct all the ministers to stay in their offices during party leader’s visits.In the letter, of which the copy has been received by Dunya News, Imran Khan has directed that he would not want to be received by any minister, MNA or MPA at the Peshawar Airport in the future. He has said that VIP culture is funded by public money. He has told the CM KP that he would only like to be accompanied by the concerned minister and all others should remain in their offices.

Greece arrests four over foiled Belgium terror attacks

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ATHENS (AFP) - At least four people were arrested in Athens on Saturday as part of a probe into a jihadist cell that was dismantled in Belgium this week before it could carry out any attacks, a Greek police source said.Greeces anti-terror police were seeking to determine whether those arrested included Abdelhamid Abaaoud, the 27-year-old suspected mastermind of the cell who according to media reports may have been planning the foiled attacks from Greece.The arrests took place in the Pangrati district of the Greek capital in the middle of the day, the source said. Several mobile phones were also seized.European nations have arrested dozens of Islamist suspects in the wake of the Belgian anti-terror raids, during which two suspects were killed.Belgium said the cell was planning to kill police officers.Abaaoud, a Belgian of Moroccan descent, is a notorious jihadist who spent time in Syria. His alleged involvement comes at a time of heightened fears in Europe about the threat posed by young Europeans returning home after fighting alongside extremist groups in the Middle East.

Man United beats struggling QPR 2-0 in Premier League

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LONDON (AP) - Marouane Fellaini and James Wilson came off the bench to end Manchester Uniteds three-game winless run in the Premier League on Saturday, scoring second-half goals in a 2-0 victory against a struggling but spirited Queens Park Rangers.In an improved second-half performance, when United reverted to 4-4-2, Fellaini produced the breakthrough when he met Antonio Valencias pass in the 58th minute. And the 19-year-old Wilson struck in stoppage time after QPR goalkeeper Robert Green parried his initial attempt.When I changed the shape, I wanted speed or pace also in the attacking line, United manager Louis van Gaal said. Its a change in attack that brings lot of risk, but we have won 2-0 and I think it was deserved.But it was a frustrating return to the team for striker Radamel Falcao, who was thwarted several times by Green.While United provisionally returned to third place ahead of Southamptons late game at Newcastle QPR remains in the relegation zone after a fifth straight league match without a win.Although it was QPRs first home loss since October, the west London team is relying on its home form to avoid the drop. All 19 points have been collected at Loftus Road with 10 successive away losses making even manager Harry Redknapp feel uncertain about his future.I thought that was one of our better home performances, Redknapp said. The players gave everything today. I cant ask any more.United didnt manage a single shot on target in last Sundays loss to Southampton. Such an anomaly was prevented after 10 minutes here when Michael Carrick struck at Green, who then kept out Falcaos close-range effort with a quick reaction save.QPR, though, was unsettling United, with Charlie Austin seeing two volleys expertly tipped over by goalkeeper David de Gea.Wayne Rooneys penalty appeal after being tripped by Joey Barton was dismissed, but United was creating little for Angel di Maria or Falcao up front.The visiting United fans were chanting 4-4-2 and the restoration of four rather than three at the back, coinciding with Fellaini replacing Juan Mata in midfield at halftime, contributed to an upturn in fortunes.Although Falcaos header was thwarted by Greens low diving save, United did finally score for only the second time in six hours in the league through Fellaini.We just switched off for a second and got punished, Redknapp said.And as QPR pressed for the equalizer, the hosts were caught on the break when Wilson scored for the first time this season, having only previously netted twice in a single game in May.
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