Friday 19 June 2015

Dunya TV

Dunya TV

Peugeot to build 557 mn euro Morocco auto plant

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RABAT (AFP) - French automotive giant PSA Peugeot Citroen said Friday it will build a 557 million euro ($632 million) automobile factory in Morocco with an annual production capacity of 90,000 units.The plant, due to open in 2019 north of Rabat, will cater for the needs of the region and of Moroccan customers, a statement said.Chairman Carlos Tavares signed an official agreement with Industry Minister Moulay Hafid El Alamy in the presence of King Mohamed VI at his palace in the capital, an AFP journalist said.The group said the plant will by 2019 assemble engines and vehicles in the B and C segments -- compact and mid-sized cars, the mainstay of Moroccos automobile industry.With a capacity of 90,000 engines and vehicles to begin with, this industrial unit will eventually produce 200,000 units a year, when demand requires, it said.Alamy said the new factory would create 4,500 full-time and provide indirect employment for up to 20,000 workers.PSA said it was today preparing the conditions to realise its commercial ambition (to produce) a million vehicles in the Middle East and Africa region by 2025.

Greece hopeful of last-ditch deal despite default warnings

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ATHENS (AFP) - Greece said Friday it is still hopeful for an 11th-hour deal with its creditors before it defaults on its debt, as the ECB threw Greek banks another lifeline and depositors withdraw their savings.Those who invest in crisis and terror scenarios will be proven wrong, Prime Minister Alexis Tsiprass office said, amid reports that Greeks banks were facing an increase in withdrawals.While new emergency European meetings have been called to break the deadlock in talks to unlock bailout funds, the brinkmanship between Athens and its creditors has pushed Greece close to a default that could lead to a messy euro and EU exit.Dire headlines have apparently led many Greeks to withdraw more money from banks, which they have been doing gradually for months.A billion euros were withdrawn from Greek banks on Thursday, following another 1.6 billion euros over the two previous days, financial website Euro2day reported.The Bank of Greece insisted the countrys banking system was stable, but sources said it appealed to the European Central Bank (ECB), which increased the emergency liquidity level available to Greek banks by an unspecified amount at an emergency meeting on Friday.According to state agency ANA, the funding cap was raised by 3.3 billion euros ($3.7 billion).EU President Donald Tusk has called an emergency summit of the leaders of the 19 eurozone countries in Brussels on Monday after finance ministers failed Thursday to break the five-month deadlock between the anti-austerity government in Athens and its international creditors.French President Francois Hollande insisted Friday that everything must be done to seal a compromise on the Greek debt crisis.We must do everything to relaunch negotiations, so the talks can achieve a compromise, but one in line with European rules, said Hollande, following talks in Bratislava with his Slovak counterpart.Economic powers outside the eurozone were also watching the situation with growing alarm, with the United States saying there is an urgent need for both Greece and its international partners to take steps towards compromise.Monday summit crucialHollande said Mondays emergency eurozone summit would be crucial.I dont want us to meet only to come to the conclusion that we have failed, he said.However, in a move that seemed calculated to irk other European leaders amid tensions with Russia over Ukraine, Tsipras visited Saint Petersburg as the star guest at President Vladimir Putins investment drive forum.The two leaders did not discuss potential Russian financial aid to cash-strapped Greece, a Kremlin spokesman said, nevertheless the two sides sealed a preliminary agreement to set up a joint venture to extend the TurkStream gas pipeline through Greece.The two countries will jointly own the venture, with Russia expected to foot the bill as Greece hopes the project will somehow translate into an upfront payment.Baffling TsiprasExpressing the general mood towards Tsiprass diplomacy, European Commission chief Jean-Claude Juncker has admitted to being baffled.I dont understand Tsipras, Juncker told German weekly Der Spiegel in an article to be published Saturday.Greece has little time left to agree a reform deal in order to secure the remaining portion of its multi-billion-euro bailout, which it needs to avoid defaulting on a debt payment of around 1.5 billion euros to the International Monetary Fund due on June 30.Analysts have long warned that a default may set off a chain of events leading to a Grexit -- Greece leaving the eurozone, and even the Bank of Greece warned that would be the likely result.I repeatedly warned Mr Tsipras that he cannot rely on me to prevent a collapse of talks, Tusk said.We are close to the point where the Greek government will have to choose between accepting what I believe is a good offer of continued support or to head towards default, he said in a video message Friday.Tsipras, who was elected on an anti-austerity promise in January and who has been reluctant to accept a deal that would raise taxes and cut spending further, warned in turn that a Greeces exit would lead to the undoing of the euro.The famous Grexit cannot be an option either for the Greeks or the European Union. This would be an irreversible step, it would be the beginning of the end of the eurozone, Tspiras told the Austrian daily Kurier on Friday.Tsiprass own office was more conciliatory, adding in Fridays statement: We hope that the final negotiations take place at Europes highest political level and we are working toward the success of this summit.Creditors have refused to pay the remaining 7.2 billion euros if there is no deal, and the cash will be lost forever to Greece if there is no agreement for an extension.Greece must pay another 6.7 billion euros to the ECB in July and August. There have been reports of that plans to enact capital controls if Athens financial system runs dry.The Athens stock exchange ended the day up 0.57 percent after falling sharply earlier in the week.

Twitter moves to put 'products and places' in feeds

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WASHINGTON (AFP) - Twitter said Friday it was testing a new way to use the messaging platform for shopping by promoting products and places in its feeds, as it looks to boost revenues.Were starting to experiment with a small number of products and places, Twitter product manager Amaryllis Fox said in an official blog post.As we test, within your timeline you may see pages and collections of pages that are shared by influencers and brands.The move will expand the platform beyond tweets to pages with product information and in some cases buy buttons.The revamp also allows for designated curators to connect with users in a manner beyond the 140-character tweet.Weve invited a group of curators to share collections of some of their favorite places and things, Fox said.Youll be able to browse rich collections from influencers you care about and get more information about the products or places you find interesting.This could include sponsored messages from HBO about its Game of Thrones television series or from actress Reese Witherspoon about her Draper James line of apparel, Fox listed in her post as examples.Other partners in the program include sportswear group Nike, retailer Target and the online news site TechCrunch.The move comes with Twitter looking to improve growth and engagement as it seeks a new top executive to replace Dick Costolo, who is stepping down.Costolo was under tremendous pressure from investors to prove his worth by increasing the ranks of Twitter users and revenues brought in by the globally popular one-to-many messaging service.Twitters most recent update showed it has some 300 million active users, but growth has been sluggish compared with other social networks and it has yet to show a profit.Twitters share of the $145 billion spent on digital advertising around the world this year is slightly less than one percent, up from just shy of a half-percent last year, the research firm eMarketer said.

Ukraine vows to pay Russia despite default threat

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KIEV (AFP) - Cash-strapped Ukraine promised on Friday to make the next payment on a disputed Russian loan it had threatened to stop servicing due to Moscows rejection of more lenient terms.The decision should help ease some of the tensions building between the two neighbours throughout Ukraines 14-month separatist revolt that Kiev accuses Moscow of staging -- a charge Russia denies.But the Western-backed Kiev leadership also warned its various lenders that it may stop making interest payments should they fail to accept painful debt restructuring terms within a matter of weeks.Two days ago, we paid $39 million (34 million euros) for (US-held) Eurobonds, and we will also pay $75 million to cover the so-called Russian bonds, Finance Minister Natalie Jaresko told reporters.Her office quickly stressed in a separate statement that a faster-than-feared economic implosion left Kiev with no alternative but to freeze its payments unless a negotiated solution is found in the weeks to come.Ukraine is scrambling for a way to plug a $15.3-billion budget hole over the coming four years.The potential savings form part of a $40-billion global rescue that also includes IMF lending and is meant to keep the strategic former Soviet country from slipping into default.But Moscow has refused to negotiate and still expects the bonds principal returned when it matures by year-end.Russia had warned it would ask the International Court of Justice in The Hague to declare Ukraine in default if it failed to make a scheduled $75-million interest payment on Saturday.Jaresko said the money would be delivered on Monday because banks remained closed over the weekend.The coupon covers a $3-billion Eurobond that Moscow purchased from Ukrainian president Viktor Yanukovychs government in the wake of his December 2013 decision to ditch a landmark EU alliance and preserve closer ties with Russia.The pro-European leadership that emerged after three months of subsequent street protests has denounced Moscows three-year loan as little more than a Kremlin bribe.Sweeteners for creditorsJaresko said separate negotiations with Ukraines private Western lenders would continue in Washington next week.But she stressed that Ukraine still expected those creditors -- comprised of four US financial titans who include the likes of Franklin Templeton -- to take a so-called haircut that will see them get back only 60 cents on the dollar.The so-called Ad-hoc Committee of Bondholders owns most of the debt Ukraine is trying to restructure and has firmly rejected the deal.Yet Jaresko argued that Ukraine -- its already-dire 2015 economic outlook recently slashed by the Fund to a contraction of nine percent -- faced no alternative but to insist on the tough debt restructuring terms.Considering that recently Ukraines economic growth forecast turned worse, today Ukraine is sending the (private) creditors committee a revised debt restructuring offer, Jaresko said.The updated proposal includes a considerable reduction of the principal, an extension of the debt servicing terms, and changes to the interest payment, the US-born Ukrainian finance minister said.Sources close to the talks told AFP that the new proposal intends to soften up the US debt holders by offering them a new Eurobond by 2020 meant to cover some their loss.Jareskoa office said only that Kiev proposes a value recovery instrument for bondholders should the situation significantly and durably improve beyond the projections of the (IMF) programme.The big bondholders said in a letter published in the Financial Times on Wednesday that a haircut sends the wrong signal to global capital markets when Ukraine can least afford to be shunned.Yet they also offered to wait until Ukraines economy improves before asking for the coupon payments.The IMF has backed Ukraines position strongly and encourage the lenders on Friday to relent.I strongly believe that the authorities programme and the determination and boldness with which it is being implemented, despite considerable headwinds, warrant the support of the international community, IMF chief Christine Lagarde said.

US stocks end lower as Greece keeps traders cautious

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NEW YORK (AFP) - US stocks eased from the weeks highs on Friday as traders became cautious ahead of a fraught-filled weekend for Greece and the eurozone.Giving up more than half of Thursdays gains, the Dow Jones Industrial Average lost 101.56 points (0.56 percent) at 18,014.28, and the broad-based S&P 500 fell 11.48 (0.54 percent) to 2,109.76.After sweeping to a new record Thursday, the Nasdaq Composite Index shed 15.95 points (0.31 percent) at 5,117.00.The mild sell-off came as Greece and its official creditors entered the weekend with no deal on more financial aid to Athens in sight, and the cash-short country facing a June 30 deadline to repay 1.5 billion euros ($1.7 billion) to the International Monetary Fund.Greece is obviously on everyones mind; it could be just positioning ahead of that potential for volatility on Monday, said Charlie Bilello of Pension Partners. Why take the risk over the weekend if you dont have to?ConAgra Foods jumped 10.9 percent as hedge fund Jana Partners reported amassing a 7.2 percent stake and moved for three board seats in an effort to change management direction and boost the companys value, complaining of poor performance in the wake of the 2013 $6.7 billion purchase of RalCorp.Also in play was home lifestyle and furnishing group Martha Stewart Living Omnimedia, which added another 8.4 percent on top of Thursdays surge on news that retail fashion brands investor Sequential Brands Group was nearing agreement to buy the iconic firm.Among other movers, American Airlines rose almost 4.0 percent, while chocolate maker Hersey melted off 3.5 percent on a lowered sales forecast, and oil services power Schlumberger dropped 2.3 percent.Bond prices rose. The yield on the 10-year US Treasury slid to 2.27 percent from 2.34 percent Thursday, while the 30-year fell to 3.05 percent from 3.13 percent.Bond prices and yields move inversely.

Obama to visit Ethiopia, African Union in July

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SAN FRANCISCO (AFP) - US President Barack Obama will in late July become the first sitting American leader to visit Ethiopia and the headquarters of the African Union, the White House said Friday.Obamas trip to Addis Ababa will come directly after an already announced trip to Kenya, his first as president to his fathers homeland, press secretary Josh Earnest announced.Obama will meet both the Ethiopian government and AU leaders, for talks on how to accelerate economic growth, strengthen democratic institutions and improve security.The election of the United States first black president -- and the first with an African parent -- raised high hopes on the continent, but Obama has been a cautious friend.In August last year, the White House hosted a huge Washington summit of African leaders and the upcoming July trip is intended to build on progress towards closer economic ties.A presidential visit to Kenya had been put on ice while President Uhuru Kenyatta faced charges of crimes against humanity for his role in 2007-2008 post-election violence.The International Criminal Court has since suspended that prosecution, citing a lack of evidence and Kenyas failure to cooperate.Human rights groups have questioned the visit to Kenya, but are also asking why Obama is visiting Ethiopia so soon after a contested election.Africas second most populous nation held a vote in May that was described by many independent observers as flawed.The governing party, which has ruled for over two decades, won a landslide, amid opposition allegations of intimidation and vote rigging.The decision by President Obama to travel to Ethiopia, which has seen three opposition party members murdered this week alone, is very troubling, Jeffrey Smith of the Robert F. Kennedy Center for Justice & Human Rights told AFP.Smith said the timing, and the symbolism of Obamas trip, would further solidify the image that America stands behind Africas autocrats.The White House stressed that it frequently addresses issues of democracy and political rights with countries in the region.We regularly, both in public and in private, communicate our concerns about some of the issues, White House spokesman Eric Schultz said.I dont think that is going to stop because of this visit.Ethiopia and Kenya have both been on the frontline of the fight against Somalias Al-Qaeda-allied militia Shebab, and have been important security partners to Washington.Shebab units have been hunted by African Union troops and US drones inside Somalia -- but have outflanked the Kenyan contingent in Somalia to mount a string of gruesome cross-border raids.In April last year the group attacked a university in Garissa, Kenya killing 148 people -- most of them students.

Amid deadlock on Greece, IMF releases funds to Cyprus

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WASHINGTON (AFP) - The International Monetary Fund, deadlocked with Greece over further financial aid, approved a new loan installment for Cyprus on Friday, now the only other eurozone country receiving its bailout support.As with Greece, the negotiations between Cyprus and the so-called troika -- the IMF, European Commission and European Central Bank -- had bogged down over the economic reforms demanded by the creditors in exchange for the financing.After several months of little progress, the troika in late May said a review had shown Cyprus was making progress on the reforms, and notably hailed the adoption of a controversial measure on home foreclosures.The IMF executive board completed on Friday the combined fifth, sixth and seventh reviews of Cypruss program and approved the disbursement of 278.4 million euros ($315.8 million).That would bring the total amount disbursed in the one billion euro, three-year program begun in 2013 to 742.4 million euros.Economic and fiscal outcomes have been better than expected, with growth turning positive in the first quarter of 2015 and public finances exceeding targets. Liquidity and solvency in the banking system have improved, allowing the elimination of external payment restrictions, David Lipton, the IMFs first deputy managing director, said in a statement.Going forward, it will be important to maintain the reform momentum and strong program ownership.Cyprus sought the international lifeline to prevent a banking collapse. The EU and IMF together offered 10 billion euros in financial assistance through March 2016 in the coordinated bailout.That is far smaller than the troikas total 240 billion euro bailout package for Greece.In the first quarter of 2015, the Cypriot economy grew for the first time in nearly four years, with official figures showing a 1.6 percent rise in gross domestic product.

Massacre suspect has little to say at first court appearance

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CHARLESTON (AFP) - For someone reportedly bent on igniting a race war, Dylann Storm Roof had little to say for himself Friday in the first of what will be many court appearances.The 21-year-old suspect in Wednesday nights massacre at an African-American church Bible study class spoke only to answer a judges questions at a 14-minute bail hearing.Roof appeared by video link from an adjacent jail block, flanked by two guards in dark body armor.He had been charged earlier in the day with nine counts of murder at the Emanuel African Methodist Episcopal Church and one count of using a gun to commit the crime.On a fuzzy video screen, he appeared subdued, bowing his head ever so slightly.I have some questions, if I may, with permission of counsel, said Judge James Gosnell in the presence of relatives of several of the victims.What is your age? the judge asked.21, replied Roof, wearing an open-neck shirt, his bowl-cut hair sagging in the days heat and humidity.JoblessYoure 21. Are you employed?No, sir.You are unemployed at this time?Yes, sir.Thank you, the judge concluded.Roof also verified his home address, in Eastover, a village of 800 near the state capital Columbia.A detective confirmed Roof had had two previous run-ins with the law for trespassing rap and a pending drugs possession charge.If Roof had little to say, relatives of many of his victims took turns, at Gosnells invitation, to express their feelings.They had arrived, in ones and twos and threes, in the hours preceeding the hearing, escorted by deputy sheriffs in broad-rim hats, solemnly passing a battery of TV cameras and news photographers without taking questions.You took something very precious from me, said Nadine Collier, daughter of Ethel Lance, 70, a lifelong member of the Emanuel church.I will never talk to her ever again. I will never, ever hold her again, she said, wearing a long green dress.ForgivenessBut she went on to tell Roof: I forgive you and God have mercy on your soul. You hurt me. You hurt a lot of people. But I forgive you. I forgive you.Anthony Thompson, husband of Myra Thompson, 59, and vicar of another of Charlestons many churches, also expressed forgiveness, before giving Roof some Christian advice.Repent, confess to the one who matters most, Christ, so that he can change it, change your ways, no matter what happened to you, and youll be OK, he said.Do that and youll be better off than what you are right now.Relatives of other victims expressed similar feelings, but no one spoke for the most prominent victim of all, Clementa Pinckney, 41, the chief pastor at Emanuel and a longtime South Carolina state senator.The judge, who has a local reputation for giving soundbites from the bench, caused a stir on social media by suggesting that Roofs family deserved sympathy as well.Nobody would have ever thrown them into the whirlwind of events that they have been thrown into, he said.Under South Carolina law, Gosnell as a bail court judge had no authority to set bond for Roof as a murder suspect -- but he could do so on the weapons charge, and he did.One million dollarsOn the one count of possession of a weapon during the commission of a violent crime, Im setting your bond, young man, at $1 million, the judge said, rather ceremoniously.With that, Roof returned to his cell in the Charleston County detention centers administrative segregation housing unit -- a euphemistic term for solitary confinement.In the same unit is Michael Slager, a North Charleston police officer charged with fatally shooting a black man, Walter Scott, in April as a passer-by caught the incident on video.They might be in the same part of the detention center, but they are not neighbors and have no contact with each other, said assistant sheriffs deputy Mitch Lucas.Gosnell ordered Roof, who is represented by a public defender, to return to court on October 23 and February 5 -- a timeframe that Lucas said is not unusual for South Carolina criminal proceedings.

Strident Obama says gun control laws will change

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SAN FRANCISCO (AFP) - US President Barack Obama voiced confidence Friday that a shocked and heartbroken nation would eventually tighten permissive gun laws, striking a more strident tone after the deadly Charleston shooting.Obama told US mayors in San Francisco that change would come one day, as he took on detractors who accused him of politicizing the deaths of nine black worshippers in South Carolina.Describing gun crime as a crisis that tears at the fabric of a community and costs this country dearly, Obama said: More than 11,000 Americans were killed by gun violence in 2013 alone. 11,000.He accused Congress of failing to act after a mass shooting in Newtown, Connecticut, in 2012 which killed 26 people, including 20 children, at Sandy Hook elementary school.We wouldnt have prevented every act of violence or even most, Obama said.We dont know if it (gun reform) would have prevented what happened in Charleston. No reform can guarantee elimination of violence, but we might still have some more Americans with us.We might have stopped one shooter, some families might still be whole. You all might have to attend fewer funerals.In the immediate aftermath of the Charleston shooting Obama had voiced resignation that change would not come in the autumn of his eight-year term in office.On Friday he sounded more resolute and called for an honest debate.At the very least we should be able to talk about this issue as citizens. Without demonizing all gun owners who are overwhelmingly law abiding, but also without suggesting that any debate about this involves a wild-eyed plot to take everybodys guns away, he said.Im not resigned. I have faith we will eventually do the right thing, he said.We have the capacity to change, but we have to feel a sense of urgency about it.

Football: China coach banished for key Cameroon game

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EDMONTON (AFP) - China coach Hao Wei has been banished from the sidelines for his teams last 16 clash against Cameroon in Edmonton on Saturday.Hao was punished for hampering Ria Percivals bid to take a quick thrown in during a 2-2 draw which sent New Zealand out of the tournament.The China coach had to field questions during the pre-match press conference on how he would communicate with his young team -- whether he would try to hide inside a laundry basket like Chelsea boss Jose Mourinho or use an invisible phoneline like North Koreas leader during the mens World Cup in Brazil.No, we dont have anything like that, said a baffled Hao.It will be the first meeting between the 16th-ranked Chinese, runners-up in 1999, and African newcomers Cameroon, ranked 53.After the three matches our team is growing so fast, although I will not be present they are maturing and are more sophisticated, I think they will do well.The Chinese returned to Edmonton where they played their first two matches -- a 1-0 loss to Canada and 1-0 win over the Netherlands -- before travelling east to Winnipeg for the New Zealand game.We are very happy to be back in Edmonton. Weve already stayed here for many days and are familiar with the stadium, everything is going according to schedule, he said.He said they have analysed Cameroon, the only African team left in the tournament, and have a game plan.The Cameroonian team did exceptionally well at the group stage but after looking at them in detail we saw they have a big loophole in defence which maybe we can capitalise on.Captain Wu Haiyan said their side would not be thrown off by Haos absence on the touchline.Were pleased to be back (in Edmonton), we feel at home. Weve played three matches and already Ive seen stronger communication and coordination between the team, we have other coaches as well.Im sure the head coach will convey his orders to the other coaches. Defence will be our priority (Saturday). We know they (Cameroon) have players who are very strong physically.

Tennis: Murray wants to learn from Mourinho

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LONDON (AFP) - Andy Murray says he wants to learn the secrets of Jose Mourinhos success as the former Wimbledon champion fine-tunes his challenge to regain the All England Club title.Murray battled to a three-set victory over Gilles Muller in Fridays quarter-finals of the Wimbledon warm-up event at Queens Club and then caught up with Chelsea manager Mourinho for a quick chat and a picture that he posted on his Instagram account.The 2013 Wimbledon champion has become friendly with Mourinho since using Chelseas training ground, which is near his Cobham home, during his recovery from back surgery last year.And given Mourinhos vast success, including leading Chelsea to the Premier League title and League Cup last season, it is little surprise that Murray is keen to get a few tips from the Portuguese coach.I havent met him long enough or in a situation where I could do that, Murray said.But Id love to chat to him about those things to understand what it is that makes him great.The consistency of his success is pretty incredible really.Murray was below his best against Muller, but he admitted he was still relieved to have put on a winning performance in front of Mourinho after falling flat the last time he was in attendance.I said to him that this was a slightly better performance than the last time he came to watch me, which was at the O2 finals last year when I played against Roger (Federer), he said.I think he seems to be quite interested in tennis. He spent a few days obviously this week and maybe will come tomorrow or on Sunday.So, yeah, I met him a few times when I had my back surgery, I did a lot of my training and rehab in the Chelsea training ground near to my house. I met with him a few times and hes a fun guy.While Murray has a good rapport with Mourinho, he stopped short of grilling the boss about transfers, in particular Chelsea goalkeeper Petr Cechs proposed move to Arsenal.It looks like thats pretty much done now. No, I actually didnt ask him about that Murray laughed.

Racing: Money talks as Qatar joins British turf's big hitters

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ASCOT (AFP) - A subtle difference greeted visitors at Royal Ascot this year -- increased on-site branding for Qatari private investment vehicle QIPCO as part of its record GBP 50 million ($79.4m) contribution to British horse racing.Last year QIPCO Holding became the first official partner at a venue that has eschewed corporate sponsorship on account of the meetings historic affiliation with the British royal family.So delighted were key personnel with their first taste of official partner status that the company recently extended that position until 2024.QIPCO (Qatar Investment & Projects Development Holding Company) is linked to a branch of the Qatari ruling family comprising six Al Thani brothers, who are cousins of Sheikh Tamim, the Emir of Qatar.Horse racing has a fantastic profile in Qatar, said Harry Herbert, racing manager for the Emir of Qatars brother Sheikh Joaan, who recently backed Lockinge Stakes day at Newbury.The sheikhs love horses, they have a lot of Arabian horses in Qatar and their involvement with thoroughbred racing is a natural progression from that, he said.QIPCO has also extended its backing of the Champions Series, which embraces most of Britains top races.And the Qatar Racing and Equestrian Club has committed itself to a decade-long sponsorship of the prestigious Glorious Goodwood fixture in July.Within British horseracing, these sponsorship packages are every bit as eye-opening as Qatars successful bid to host the 2022 World Cup of football. They follow on from Dubais munificent backing of the sport, through bloodstock investment and sponsorship, for the last 35 years.British racing has long benefited from significant foreign patronage.European aristocrats, Greek shipping tycoons and American oilmen have all been to the fore, though the Middle Eastern influence far outweighs any previous benefactor.When Sheikh Joaan came into the business it was very much to reflect Qatar and the interest of its people in sport worldwide, Herbert said.But there are different philosophies within Qatars patronage. While Sheikh Joaan attributes his involvement to promoting Qatar globally, the Al Thani brothers behind QIPCO see it as a good investment.Middle East influenceMany of the brothers horses are owned by subsidiaries of QIPCO. The most prominent of them, Sheikh Fahad, underlined the synergies earlier this month.It is in our interests to promote the quality of British racing as the value of our horses is enhanced if they are competing in the country with the best racing in the world, he said.The Al Thanis are naturally competitive on the racecourse.Herbert said they enjoyed a healthy rivalry, which also extends to other Middle Eastern potentates from neighbouring states.This was evident in the build-up to Royal Ascot, when Sheikh Joaan of Qatar and Sheikh Mohammed, the Ruler of Dubai, made a string of expensive private acquisitions.But Herbert maintained such jousting was confined to the sport.In May, Sheikh Joaan was at the 2,000 Guineas (an important race at Newmarket), where he spoke to Sheikh Mohammed and other prominent sheikhs from Bahrain, he noted.Thats what makes racing such a unique sport for Middle Eastern people. Their influence in British racing is strong, and Qatar wants to be involved at the very heart of it.Qatars presence on the British Turf has mushroomed since Sheikh Fahad bought his first thoroughbred five years ago. But it will take them many years to threaten the existing hierarchy.A perfect vignette of that unfolded at Royal Ascot on Thursday, when two horses purpose-bought by Sheikh Mohammed and Sheikh Joaan duelled furiously from the start of the Norfolk Stakes.Their exertions caught up with them at the finish, where Waterloo Bridge came through to beat them both. Waterloo Bridge is owned by the Irish-based Coolmore syndicate, which has dominated British racing for the last 15 years.

Gunmen kill 10 at Mexico beer business: official

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MONTERREY (AFP) - Gunmen stormed a beer business in northern Mexico on Friday, killing 10 people in broad daylight and leaving some of the victims naked over an apparent gang feud, officials said.Several armed men arrived in two vehicles before attacking people inside the beer distribution center in the municipality of Garcia, a suburb of the industrial hub of Monterrey, prosecutors said.The main line of investigation is that the shooting was linked to a dispute between criminal groups, said Nuevo Leon state attorney general Javier Flores, adding that seven kilograms (15 pounds) of marijuana was found at the scene.Seven people died on the scene and were found either naked or half-naked, Flores said. The three other victims died at a hospital.The victims were specifically targeted in the attack, he said, adding that other distribution center workers were spared.We cant be sure that the victims were involved in criminal acts but by the way that they were attacked, it would appear they were, Flores said.State investigators, who requested anonymity, said former members of the Zetas drug cartel used the location for their trafficking scheme.In addition to the marijuana, investigators found a scale, an assault rifle and 10 bullet shells. Another official said the assailants stole 10,000 pesos ($650) in cash.Home of El BroncoGarcia is the hometown of Jaime El Bronco Rodriguez, the former mayor who made international headlines this month when he became the first independent candidate to win a gubernatorial election in the country.The Nuevo Leon governor-elect gained fame when he was mayor from 2009 to 2012 as he defied the ultra-violent Zetas cartel.Rodriguez reacted to Fridays killing on his Facebook page, saying he was sad and angry and urged authorities to act quickly to find the perpetrators.They should not let the wave of violence return, he said.Rodriguez says he survived two assassination attempts when he was mayor and that his daughter was briefly kidnapped when she was two years old.Zetas leader Omar Trevino, alias Z-42, was captured in March in another Monterrey suburb, the upper-class district of San Pedro Garza Garcia.The Zetas are accused of being behind an arson attack against a Monterrey casino that left 52 people dead in 2010.The gang, founded by military deserters, used to be the armed wing of the Gulf cartel until the two sides split in 2010, leading to bloody turf wars in Mexican states.Mexicos border states are major drug routes to the United States and have endured some of the worst violence in cartel wars that has left more than 80,000 people dead and 22,000 missing across the country since 2006.

Comet probe Philae dials home, 'doing very well'

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PARIS (AFP) - Europes robot lab Philae phoned home on Friday after several days silence in its journey towards the Sun on the back of a comet and is doing very well, the German Aerospace Center (DLR) said.The latest contact lasted 19 minutes and is the third time that Philae has touched base with Earth since it landed on Comet 67P/Churyumov-Gerasimenko on November 12 after piggybacking on its mothership Rosetta.The mission seeks to unlock the long-held secrets of comets -- primordial clusters of ice and dust that scientists believe may reveal how the Solar System was formed.After landing on the comet, Philae had used its stored battery power to send home reams of data before going into standby mode.The hope was that as the comet approaches the Sun, solar energy would recharge Philaes batteries enough for it to reboot, make contact and ultimately resume scientific work.It finally took seven months before Philae woke up on June 13 from hibernation and made contact with Earth for two minutes. It reported back again just two days after that first contact.On Friday, Philae transmitted 185 data packets back to Earth between 1320 and 1339 GMT.Among other things, we have received updated status information, Michael Maibaum, a systems engineer at the DLR Lander Control Center in Cologne.At present, the lander is operating at a temperature of zero degrees Celsius, which means that the battery is now warm enough to store energy. This means that Philae will also be able to work during the comets night, regardless of solar illumination.The data transmitted also shows that the amount of sunlight available had increased. More solar panels were illuminated; at the end of contact, four of Philaes panels were receiving energy, said the DLR statement.The contact has confirmed that Philae is doing very well, it added.

Euro steady as Greece worries rise

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NEW YORK (AFP) - The euro held onto most of its post-Fed gains Friday, slipping slightly against the dollar and the yen even as worries over Greece surged going into the weekend. Late Friday the common currency was at $1.1349, down from $1.1371 late Thursday but still well above the level before the Federal Reserve showed itself more dovish on US interest rates than expected at mid-week.Traders said there was still caution in the market -- as could be seen in a significant drop in US bond yields Friday -- with eurozone leaders called to an emergency meeting on Monday on the Greece crisis. Greece is facing a June 30 deadline to obtain more bailout funds from its official creditors to be able to make a 1.5 billion euro debt payment to the International Monetary Fund.The creditors, the IMF and the EU, have insisted on reforms in return for the 7.2 billion euros of new funds that Greece says it cannot accept.Worries are that a Greek default will lead to its exit from the eurozone, an unprecedented situation that could roil financial markets.Kathleen Brooks of Forex.com said that the euro remained stable due to sharply lower exposure to the country in the private sector and solid gains made in strengthening the other weak eurozone economies like Spain, Portugal and Ireland.Gone are the days when the euro would tumble 300-400 pips on a stalemate between Greece and her creditors, she said.Greece is considered a political not a financial problem, thus it should not have a long-term impact on euro-based assets.
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