Monday, 16 May 2016

Dunya TV

Dunya TV

Oil prices hit 2016 peaks on talk of supply deficit

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NEW YORK (AFP) - Oil prices shot up to six-and-a-half month peaks Monday as Goldman Sachs said the market faces a short-term supply deficit due to production outages.A much-cited report by the US banking giant said supply disruptions in Nigeria and better demand overall had created a surprising supply crunch in the short run.With each of these shifts significant in magnitude, the oil market has gone from nearing storage saturation to being in deficit much earlier than we expected, Goldman said.Besides Nigeria, the oil market is also monitoring production outages in Canada due to wildfires and a political crisis in Venezuela that is expected to stifle output in the oil-exporting South American country.Sentiment is certainly bullish, said Citi Futures analyst Tim Evans, adding that he still views the market as overbought and vulnerable to correction.US benchmark West Texas Intermediate for June delivery rose $1.51 to $47.72 a barrel.Brent North Sea oil for July delivery climbed $1.14 to $48.97 a barrel in London.The Goldman forecast is the latest in a series of reports to point to a tighter market. The International Energy Agency last week predicted the glut would shrink in the second half of 2016, due in part to stronger-than-expected demand from India. However, Goldman gave a muted outlook beyond the rest of 2016, saying strong output in Iraq and Iran, among other factors, would shift the market back into surplus in the first quarter of 2017, keeping prices at $45 a barrel.

Dollar slips against euro ahead of US inflation data

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NEW YORK (AFP) - The dollar edged down against the euro Monday in profit taking after recent gains, as traders awaited a key US inflation report on consumer prices.More than anything, I think its a little bit of profit taking, said Omer Esiner of Commonwealth Foreign Exchange, citing a quiet day in economic news.Last week, the dollar climbed to a two-week high in the wake of some relatively strong data, particularly Fridays retail sales number, he said.The dollar slipped to $1.1318 per euro around 2100 GMT Monday, from $1.1309 at the same time Friday. The greenback, however, rose 0.4 percent 109.06 yen and the euro also advanced against the Japanese currency.The April rebound in US retail sales eased some doubt about the strength of the US economy following a dismal first quarter, lending some support to the Federal Reserves policy body, the Federal Open Market Committee, to raise interest rates later this year.Still, markets generally do not foresee an FOMC rate hike at the June 14-15 policy meeting.On the back of a weaker US dollar and rising energy prices through the first four-plus months of the year, market participants are anxiously waiting to see if signs of rising price pressures turn up in the April US consumer price index report, said Christopher Vecchio, currency analyst at DailyFX.The Labor Department is scheduled to issue the CPI data at 1230 GMT Tuesday.Kathy Lien of BK Asset Management said the unevenness of the US economy underscored by recent data only confirms the overall expectation that the Fed will keep interest rates unchanged next month.Until some piece of data significantly alters the markets expectations for Fed policy, we expect the dollar to remain confined to its recent range against the euro and Japanese yen, she said.

Twitter to free room for links and photos: report

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SAN FRANCISCO (AFP) - Twitter plans to let people fire off links or pictures without eating into the 140-character limit set for posts at the one-to-many messaging service, Bloomberg reported on MondayThe change could take place by the end of this month, according to a Blomberg report that cited someone familiar with the matter.Twitter declined to comment, but the move would come as the San Francisco-based company strives to ramp up the number of users along with how much people communicate at the service.Analysts have maintained that relaxing a 140-character limit set due to mobile phone text messaging constraints in place when Twitter launched in 2006 would encourage use.And, as people increasingly communicate by sharing pictures, videos and links, making Twitter more conducive to that content would play into the trend.Twitter last month released a quarterly update that showed little change in its user base.In a key metric in the fast-evolving social media world, Twitters trend was flat. The number of monthly active users was 310 million, up three percent from a year ago and only slightly higher than the 305 million in the previous quarter.Twitter changed the way it measures active users, no longer counting those who follow via SMS text messaging. The number reported in the fourth quarter including that group was 320 million.Twitter announced separately it has added BET Networks chief executive Debra Lee to its board.Lee has fired off thousands of tweets and has 67,400 followers at the service, according to her account @iamdebralee.Twitter has been and continues to be a transformative service for the media landscape and the world, Lee said in a statement.In a tweet, Lee said that she is thrilled to be on the Twitter board.

Yasir injury concern Pakistan ahead of England tour

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KARACHI (AFP) - Pakistan leg spinner Yasir Shah needs four to five weeks to recover from a knee injury, officials said Monday, putting him on track for the teams summer tour of England.The 30-year-old, who is ranked third in Tests, was forced out of a boot camp in the city of Abbottabad after experiencing pain in his left knee. The Pakistan Cricket Board (PCB) said in a statement a scan had revealed a minor injury.Shah is suffering from tear in the lateral meniscus along with small osteochondral defect. He needs conservative management which includes physical therapy and extensive rehabilitation. In our opinion he will recover in four to five weeks time, it said. Shah has been Pakistans leading bowler in Tests in recent times and his participation is seen as key for the teams chances in the four-Test series in England from July 14.He has so far taken 76 wickets in 12 Tests and has been taken on the mantle of the countrys main spinner after Saeed Ajmals career was derailed following a suspension for chucking.Shah took 49 wickets in 2015 which helped Pakistan jump to second in the Test rankings. Fifteen of them came in Pakistans 2-0 win over England in the three-Test series in the United Arab Emirates.Earlier this year Shah was suspended following a failed dope test, a punishment which was lifted after he pleaded guilty, saying he took his wifes blood pressure tablet by mistake.The International Cricket Council lifted the suspension in March.

Root claims England awards triple

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LONDON (AFP) - Joe Root was named Test Player of the Year, Limited Overs Player of the Year and Fans Player of the Year at Englands annual awards ceremony on Monday.The Yorkshire batsman, 25, hit two centuries in Englands Ashes triumph last year, scored four one-day tons and was his teams leading scorer at the recent World Twenty20 tournament in India.He overcame competition from Stuart Broad and Ben Stokes for the Test award and edged Jos Buttler and David Willey in the Limited Overs category, with both prizes decided upon by a media poll.Its been a remarkable year for our international teams, said England and Wales Cricket Board CEO Tom Harrison.The womens Ashes attracted record attendances and unprecedented levels of media interest, our physical disability team won the inaugural Physical Disability World Cup in Bangladesh and our mens team regained the Ashes, won a major Test series in South Africa and reached the final of the World T20 tournament.Each of the players honoured tonight has made a big contribution to England cricket, helping to win matches and to inspire a wider audience and deserves the highest praise.The awards were handed out at a celebratory dinner in the northern English city of Leeds, which stages Englands first Test against Sri Lanka later this week.Somersets Anya Shrubsole was voted Womens Player of the Year, with veteran England skipper Charlotte Edwards, who recently announced her international retirement, taking home the fans prize.There was also a Special Achievement Award for former England coach turned Sky Sports commentator David Lloyd.

Husband murders wife over domestic dispute

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LAHORE (Dunya News) – A husband on Monday killed his wife over a domestic dispute. Police stated that the husband got furious over domestic dispute, strangled his wife Nausheen to death and hid the body inside the house, reported Dunya News.The suspect left his children at his brothers house. Police began investigating the case on behalf of the victims brother.

MNA raises question over large number of donkeys in Pakistan

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ISLAMABAD (Dunya News) – Member of National Assembly (MNA) Sheikh Fayaz-uddin on Monday asked an interesting question during National Assembly (NA) Q&A session about the overpopulation of donkeys in Pakistan and suggested that they could be exported, reported Dunya News.Fayaz had to repeat the question three times for the trade minister. Listening to the question, Khurram Dastgir Khan assured the house of considering the issue seriously and left the house with a laughter.

Opposition walked out of NA, had nothing to say but lies: Govt

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ISLAMABAD (Dunya News) – Talking to media after Parliament session on Monday, Minister for Information and Broadcasting Pervaiz Rashid said that Prime Minister (PM) Nawaz Sharif had explained the case before parliament but Opposition had nothing to tell except lies. He said that the opposition avoided to debate and walked out of Parliament, reported Dunya News.Talking to the media, Defence Minister Khawaja Asif said that Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan was the most experienced person with respect to offshore companies.Imran Khan owned offshore companies when people did not even know how to spell ’offshore’,he added. No one would have ever known about Niazi Services Limited if the case would not have surfaced and gained media attention, Asif said.He accused Imran Khan of investing donations and charity money in international investments and that the story would not end there but will reach its logical end, he added.Railway Minister Khawaja Saad Rafique said on the occasion that few opposition parties showed least interest and irresponsible attitude in the house. Today, opposition walked out when PM addressed the parliament over their demand, he said. Government also agreed to provide enough time to opposition to state its view, he added.He expressed disappointment and said that opposition had been hijacked by four men and that PM had answered all 7 questions put forward by the opposition.

Opposition continues to walk out of Senate over PM's absence

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ISLAMABAD (Dunya News) – Chairman Senate Raza Rabbani convened Senate session on Monday while on point of order Opposition Leader Chaudhry Aitzaz Ahsan said that he had heardPrime Minister (PM) Nawaz Sharif visited National Assembly (NA) but did not address the senate so he had decided to walk out, reported Dunya News.United opposition on this matter continued to stage walkouts from the house the sixth day while 17-point agenda lasted for half an hour after Opposition’s walkout.Senator Babar Awan presented bill for representation of female judges in high courts. Babar Awan said that not even a single female judge could hold office as Supreme Court judge for 70 years and had not been nominated in judicial commission.Government should not oppose the bill, he added.Federal Minister for Law and Justice Zahid Hamid said that government had never opposed the bill but SC had allocated one-third presence of female judges which summed up to be 6 in number. He said that it would be too early and premature decision to set the number.After disagreement by the government over the bill, Chairman conducted voting over the issue after which 23 votes were cast in favour and 15 against the bill.Government coalition parties including National Party (NP) and Pukhtunkhwa Milli Awami Party (PMAP) also voted in favour of the bill while Chairman handed over the bill to the concerned standing committee.Senator Abdul Qayum presented a resolution over presenting the proofs of Indian interference in Pakistan before the global community. The bill was passed unanimously.Chairman of the Senate postponed the meeting till Tuesday afternoon at 3pm.

Have nothing to hide, everything's an open book: PM Nawaz

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ISLAMABAD (Dunya News) – Prime Minister Nawaz Sharif on Monday said that he has nothing to hide, adding that he is ready for accountability on every level, Dunya News reported.Addressing the National Assembly session, PM Nawaz said that truth has to come out, adding that Panama Leaks issue will not end without it.PM said that a report that surfaced last month was named ‘Panama Papers’, adding that he was named nowhere in the papers.“Those who leaked Panama papers have clearly stated being named doesn’t automatically means corruption”, he said.“The opposition indicted me even though I am not named”.PM Nawaz said he addressed the nation before any of opposition’s demands and presented himself for accountability even when friends told him it was not needed.He said he announced to form judicial commission headed by retired judge but was rejected. He said he wrote of Chief Justice alerting him of opposition’s demand.“We thought the opposition will now be satisfied but out Terms of Reference (ToRs) were made controversial”, he said.“The opposition’s ToRs revolve around only one person which is me”.He said the issue of Panama Leaks will not resolve with his address in Parliament, adding that the truth has to come out now that the issue is burning.Nawaz Sharif said he wants the real story of those who got their loans written off and evaded taxes to come out, adding that those who travel in lavish cars, jets and helicopters also need to come clean to the people.“Have faced strictest accountability in the past, we’re clean and don’t need any impunity”, he said.“We want the issue to be resolved soon so that we can fully focus on national development.”PM Nawaz put the details of his and family’s businesses and said his family paid Rs 10 billion in taxes over the past 23 years.He said he personally paid Rs 30.6 million tax and is part of Federal Bureau of Revenue’s (FBR) record.The Prime Minister said that not a single penny of his money was taken abroad whether it’s London flat or property in United Arab Emirates (UAE).He said flats in London were bought with money obtained after sale of factories in Dubai and Jeddah.

Joint opposition walks out of NA after PM's speech

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ISLAMABAD (Dunya News) – The joint-opposition on Monday walked out of the National Assembly in protest after Prime Minister Nawaz Sharif’s address, Dunya News reported.Opposition Leader Syed Khurshid Shah on Monday said that PM has raised opposition’s questions by 70 after today’s address.Responding to PM’s address in parliament, Shah said all PM had to do was to respond to opposition’s 7 questions instead of telling long tales.Addressing the media after the walkout, Shah said the joint opposition had given the PM a major opportunity, adding that PM has made fresh revelations that they did not know before.“We had 7 simple questions which were not responded in the address”.Shah said he felt the joint opposition should address the public through media instead of hurling bad words to each other in parliament, adding that 200 million people now the biggest judge.The Opposition Leader said that the joint opposition will meet again at 10am tomorrow (Tuesday) where the future strategy will be determined.Senator Aitzaz Ahsan said that the PM cleverly dodged the simple questions put forth by the joint-opposition.Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan asked PM Nawaz to show purchase agreement of Mayfair flats purchased in 2005.The Sharif family bought first flat in London in 1993 and fifth in 2004, he said. The PTI chief also presented documentation of his flat purchased in 1983 to the media.He said PM’s daughter Maryam Nawaz was unemployed at the time, adding that PM bought the companies in his daughter’s name.

Panama Leaks issue will not end this way, every accused will be scrutinised: PM

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ISLAMABAD (Dunya News) – Addressing to National Assembly (NA) session on Monday, Prime Minister Nawaz Sharif said that a report namely Panama Leaks surfaced last month which indentified different offshore companies owned by different people and that other than some family members he has not been named in the list, reported Dunya News.He said that owning offshore companies does not mean any sort corruption but anyone not nominated in offshore companies’ list cannot be indicted anyway. He said that he addressed the nation before any demand by the opposition and has presented himself for accountability before anyone else.This is a developing story

Opposition walks out of Parliament for not getting 7 answers from PM

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ISLAMABAD (Dunya News) – Opposition leader Khurshid Shah, after Prime Minister (PM) Nawaz Sharif’s speech addressed National Assembly (NA) and said that opposition came to acquire 7 answers of the questions drafted by the latter but after PM’s speech the questions rose to 70 from 7, reported Dunya News on Monday.He said that other than Panama Leaks other issues have also surfaced including Dubai and Jeddah.He said that he does not want to involve government and opposition in blame game and only want answers from PM.Disorder and misconduct was observed during Shah’s speech while opposition walked out of Parliament for not getting answers of 7 questions drafted by the latter.This is a developing story

Opposition holds meeting, plans strategy before NA session

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ISLAMABAD (Dunya News) – Opposition on Monday held a meeting before National Assembly (NA) session and planned a joint strategy to counter government ministers and officials over Panama Leaks issue, reported Dunya News.Talking to the media Opposition Leader Khurshid Shah said that Prime Minister (PM) Nawaz Sharif will have to bear harsh statements. People will think that things have been settled between opposition and government if opposition stays normal, he said.He said that the opposition wanted PM to explain his views over the issue and answer those ‘simple’ questions drafted by the opposition. Opposition has decided to listen to PM’s speech without interruption, he said.On the other hand, PTI leader Jahangir Tareen said that PM had gained enough time to answer the questions. It would be disappointing if he would not answer the questions, he added.

Imran Khan to counter allegations in parliament over Panama affair

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ISLAMABAD (Dunya News) – Talking to media outside parliament moments before attending National Assembly (NA) session over Panama Leaks, Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan said that he has been accused of having offshore companies and he will explain the issue as well as present documents in this matter, reported Dunya News.He said that he had been accused of offshore companies and in 1983 London flat was bought with tax paid money, he added. He also said that he bought the flat with money earned by county cricket.He added that Prime Minister (PM) Nawaz Sharif’s offshore companies were the real issue and that people were well aware of the doings of every politician.Opposition will agree over Chief Justice (CJ) over commission formed to probe Panama Leaks, reported Dunya News.
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