Friday 10 June 2016

Dunya TV

Dunya TV

Oil sinks as investors flee risk on growth worries

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NEW YORK (AFP) - Swept up in a global markets selloff on concerns about economic growth, oil prices tumbled Friday as investors snared profits from a recent rally.Risk aversion dominated ahead of the Federal Reserves US interest rate decision next Wednesday and Britains vote on leaving the European Union the following week.We definitively have seen concerns about the global economic outlook... generally speaking theres a kind of flight to quality, said Phil Flynn of Price Futures Group. You have people buying gold, selling the stock market and selling oil because of the concerns.US benchmark West Texas Intermediate for July delivery dropped $1.49 to $49.07 on the New York Mercantile Exchange, ending below $50 for the first time since Monday.In London, Brent North Sea crude for delivery in August, the European benchmark, fell $1.41 to $50.54 a barrel.Looming over the markets was Britains June 23 referendum that could lead to the country splitting from the 28-nation EU. The potential Brexit raises concerns it would hurt European economic growth, pushing investors to cut risk exposure, said Tim Evans of Citi Futures.The oil market is seeing its own flow of related selling, with traders inclined to cash profits off recent gains ahead of the weekend, Evans said.Earlier in the week, WTI reached its highest level in nearly a year supported by production outages in Nigeria caused by militant attacks, and, more broadly, by the notion that the global oversupply was easing.We still have a lot of oil on the market, said Gene McGillian of Tradition Energy McGillian said. You cant completely ignore the fact we still have near-record inventories in the US and around the world... even though there are signs of falling production in the US and unplanned supply disruptions in countries like Nigeria and Libya.With prices nearly doubling from February lows, there were indications that US production was beginning to stabilize. Official data showed Wednesday the first weekly output increase in three months.On Friday, the number of active US oil rigs rose for the second week in a row, according to oilfield services firm Baker Hughes. The count rose by three last week to 328, still far below 635 a year ago.

Dollar surges vs pound as 'Brexit' fears rise

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NEW YORK (AFP) - The pound sank and the euro fell with it Friday as investors sought shelter in the US dollar amid fears that Britain will vote to exit the European Union this month.A new poll showed a growing majority of the British people in favor of leaving the 28-nation EU, shaking foreign exchange and stock markets.The London newspaper The Independent said the survey showed 55 percent back Brexit, the largest share since research firm ORB began polling the issue last year.The pound sank 1.4 percent to $1.4250. The dollar rose 0.6 percent to $1.1251 per euro.With the approaching June 23 referendum, as well as Federal Reserve policy meeting on Tuesday and Wednesday, market volatility is very likely to ratchet up, said Christopher Vecchio, currency analyst at DailyFX.Being in the market right now is like sitting on the beach after a day in the sun, but knowing full-well that there are dark storm clouds approaching quickly on the horizon, he said. Its a matter of time before the downpour begins.The yen, seen as a haven amid the uncertainty, gained against both the dollar and the euro. The Bank of Japan issues its rate decision on Thursday.Most analysts believe the Fed will leave interest rates unchanged, especially after a dismal May jobs report and before the Brexit vote.With an interest rate hike seemingly off the table this month, market participants will scrutinize the Feds updated economic projections, statement and press conference for any guidance on the overall path of monetary policy, said Eric Viloria, currency strategist at Wells Fargo Securities.

Bairstow highs and lows as Sri Lanka hit back

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LONDON (AFP) - Jonny Bairstow continued a brilliant year of run-scoring with a Test-best 167 not out against Sri Lanka at Lords on Friday.But the debate about whether he should continue to keep wicket for England intensified when he dropped a routine catch to reprieve Dimuth Karunaratne on the second day of the third Test.At stumps, Sri Lanka were 162 for one in reply to Englands first innings 416, a deficit of 254 runs.Kaushal Silva was 79 not out and Kusal Mendis unbeaten on 25 after left-handed opener Karunaratne made exactly 50.Considering the start of this series saw Sri Lanka become the first side since 1958 to be dismissed for under 120 in three successive Test innings, this was a fine effort, albeit a placid pitch and lack of swing meant conditions at the home of cricket favoured batsmen on Friday.There had been signs of recovery in their last innings, where Sri Lanka made 475 in a nine-wicket defeat in the second Test, giving England an unassailable 2-0 lead in this three-match series.Karunaratne should have been out for 28 on Friday when he nicked all-rounder Chris Woakes, only for Bairstow to drop the two-handed waist-high chance.Even allowing for the possibility that Bairstow was mentally and physically tired after his more than six-hour innings, it was still an extraordinary miss by a Test keeper.It is not the first time this series that Bairstow has grassed a chance -- although Fridays miss was the most glaring.Karunaratne cashed in and after tea struck James Anderson, the worlds number one ranked Test bowler, for three fours in as many balls, including a well-hit drive.Yet having completed a 95-ball fifty, Karunaratne was dismissed when a leg glance was well caught by a diving Bairstow to give under-pressure fast bowler Steven Finn a wicket on his Middlesex home ground.Karunaratnes exit ended an opening stand of 108 with Silva -- easily Sri Lankas best top-order partnership of the series.Silva took Sri Lanka to 150 with a sublime drive through extra-cover for four off Stuart Broad.That innings at Durham helped us a lot in terms of our confidence, Silva told Sky Sports after Fridays close.We just had to get into our system that we can do things. When the sun is out and the ball doesnt swing much, its easier for us, he added.But still we have to play really well to score runs -- they (England) have a quality attack.Meanwhile Woakes admitted: Getting 19 wickets after today is going to be tough. But thats Test cricket. The Sri Lankans batted well.Bairstow, who was himself dropped on 11 when Shaminda Eranga floored a routine catch at mid-wicket, said after Thursdays opening day: Its not my fault he dropped it. Thats the nature of cricket.Unfortunately, he put that one down and I was able to take advantage.Bairstow, as if forecasting his own error in dropping Karunaratne, although in reality making a statement of fact, added: There are going to be more chances put down.It wasnt until January that the 26-year-old Bairstow scored his first Test century.But since January 1 he has been in prolific batting form for both county champions Yorkshire and England, scoring 594 runs at an average of 118.8 in Tests and 1,127 runs in first-class cricket at 102.4.Friday saw Bairstow receive good support from Woakes (66) in a seventh-wicket partnership of 144.Meanwhile Sri Lanka left-arm spinner Rangana Herath took an economical four for 81 in 36 overs.England resumed on 279 for six with Bairstow 107 not out and Woakes unbeaten on 23.Bairstows second century of the series, following his 140 on his Headingley home ground in the first Test, helped rescue England from the depths of 84 for four.Woakes was the initial aggressor on Friday and a boundary off Eranga saw him to a maiden Test fifty in 102 balls.But Woakes fell when caught and bowled by Herath off a chipped drive.Bairstow batted on and his leg-glanced four off Sri Lanka captain Angelo Mathews saw him surpass his previous Test-best 150 not out against South Africa at Cape Town in January.

Zimbabwe target India in search of respect

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HARARE (AFP) - Zimbabwe will set out to gain greater respect from the international cricket world when they host India for a three-match series of one-day internationals at Harare Sports Club, starting today (Saturday).Although Mahendra Singh Dhoni will captain India, the remainder of the touring squad is vastly inexperienced -- five players are yet to represent India and the other 10 boast a combined total of 83 ODI caps.Virat Kohli, Shikhar Dhawan, Rohit Sharma, Ravichandran Ashwin and Suresh Raina are just some of the 17 players that were part of Indias previous limited overs assignments but who have been rested against Zimbabwe.Former South Africa fast bowler Makhaya Ntini, who was appointed Zimbabwes interim coach at the start of the month after Dav Whatmore was sacked, believes that his side must now send a message that they should be playing against first-choice international teams.Were sick and tired of waiting around for South Africa to send their A team, he said on Friday, referring to a South Africa A tour due to take place next month. We want to compete with the big boys. Were creating a new venture here.We want to make sure that this country gets to play more games, and if you send us a team that is not your strongest team, were going to put them under the carpet so that they go home and tell people that they need to send their strongest team.Looking at the players that India have sent on the tour, Ntini added: Weve been watching the guys. Weve seen them playing in the Indian Premier League and we are comfortable that we can compete with them.India sent a second-string squad when they toured Zimbabwe last July, but have selected an even more inexperienced unit this time around.Nevertheless, coach Sanjay Bangar would not be drawn on Ntinis comments.We believe in letting our performance speak, Bangar said. We have a talented bunch of young players who have done really well in the domestic championships and India A circuit.So our focus is inwards. We do not want to give too much attention to what the opposition is saying.Although many players in Indias squad would appear to be some distance from cracking the first-choice team, Bangar believes that the tour of Zimbabwe, which also includes three Twenty20 internationals, offers a serious opportunity.Its a great platform for the younger guys, he said. It has provided a launch pad for a number of cricketers -- Virat came here and led India for the first time (in 2013), Suresh came in and then Ajinkya (Rahane).We believe its a very, very important tour for the younger lot. It provides us an opportunity to look at the future stars emerging from the Indian scene for years to come.The whistle-stop tour includes ODIs on Saturday, Monday and Wednesday, ahead of Twenty20 matches on June 18, 20 and 22. All games will be played at Harare Sports Club.Squads:Zimbabwe: Graeme Cremer (capt), Richmond Mutumbami (wkt), Taurai Muzarabani, Chamu Chibhabha, Peter Moor, Elton Chigumbura, Vusi Sibanda, Tawanda Mupariwa, Sean Williams, Sikandar Raza, Neville Madziva, Donald Tiripano, Timycen Maruma, Wellington Masakadza, Tendai Chisoro, Hamilton Masakadza, Tendai Chatara, Craig Ervine.India: MS Dhoni (capt & wkt), KL Rahul, Faiz Fazal, Manish Pandey, Karun Nair, Ambati Rayudu, Rishi Dhawan, Axar Patel, Jayant Yadav, Dhawal Kulkarni, Jasprit Bumrah, Barinder Sran, Mandeep Singh, Kedar Jadhav, Jaydev Unadkat, Yuzvendra Chahal.

Chris Gayle reveals he is fan of Shahrukh Khan and Juhi Chawla

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LAHORE (Dunya News) – West Indian cricketer Chris Gayle made some interesting revelations in his autobiography, “The Six Machine” as he wrote that he lived under a tin roof most of his life, Dunya News reported on Friday.Gayle also wrote that he does not only love but worships it. He has been crazy since his childhood and calls himself Cristiano Ronaldo of cricket. He wrote that he is a star himself but is a fan of Shahrukh Khan and Juhi Chawla.Gayle also revealed that he likes Test cricket more, even though he is T20 specialist. His favourite innings are triple centuries against South Africana and Sri Lanka.

Karachi: Two TTP terrorists arrested

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KARACHI (Dunya News) – Counter Terrorism Department (CTD) on Friday conducted operation near the area of Orangi Town and Airport and arrested 2 TTP terrorists, reported Dunya News.SSP CTD Junaid Shiekh stated that arrested terrorists Noor Khan along with his partners robbed Rs 150 million from a money exchange shop in 2008 and provided the money to Baitullah Mehsud GroupJunaid Sheikh also said that another arrested terrorists Noor Wali had been hiding in Dubai and was arrested on his return to Karachi.Noor Wali’s other aides had also been taking asylum in Dubai and that authorities had contacted The International Criminal Police Organization (INTERPOL) in this regard, SSP added.

Punjab govt writes to Federation over profit made in Hydropower projects

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LAHORE (Dunya News) – Punjab government has written to the federal government to provide the province with its shares of profit of Rs 102 billion made as a result of Hydropower projects, reported Dunya News on Friday.The eight hydropower plants in Punjab generate around 1793 Megawatts electricity. Out of these eight hydropower plants, Ghazi-Barotha Hydropower plant generates 1450 MW electricity, Chicho Ki Malian generates 13.2 MW, Nandipur 13.8 MW, Shadiwal 13.5 MW, Renala Khurd 1.1 MW, Chashma Barrage 184 MW, Rasool Hydropower Station 22 MW and Jinnah Hydropower Station 96 MW.Water and Power Development Authority (WAPDA) provides Punjab government royalty over the electricity produced through these projects. Punjab government has warned federal government of taking the matter to the Council of Common Interest (CCI) if profit made over the hydropower projects is not provided to the province.Earlier, Khyber-Pakhtunkhwa (KP) government also contacted federal government to provide the province’s share of profits made through such projects.

Sindh Cabinet approves Rs 8 trillion 69 billion budget

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KARACHI (Dunya News) – Sindh Chief Minister (CM) Qaim Ali Shah on Friday convened Sindh Cabinet’s meeting on Friday and approved the provincial budget for the upcoming fiscal year, reported Dunya News.According to the documents acquired by Dunya News, the budget had been increased to 17.5pc while target of Rs 422 billion had been set regarding tax recoveries.Surprisingly, Rs 150 billion had been suggested for education sector while joint-budget worth Rs 70 billion had been suggested for home ministry and police.Rs 55 billion had been approved for the health sector, Rs 42 billion for municipalities while a special budget package with a value of Rs 10 billion had been allocated for Karachi.Shahra-e-Faisal’s expansion, development for Star Gate and underpass construction at Punjab Chowrangi had also been included in the very package.Annual development budget has been increased to 38pc.Allocation of Rs 224 billion was suggested for the annual development program.

Trade deficit exceeds $19 billion with 19% drop in exports

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KARACHI (Dunya News) – National exports has slumped to $21 billion and 850 million with a reduction of 12pc while imports worth $41 billion and 450 million has been recorded in 11 months of the present fiscal year, reported Dunya News on Friday.In this way, trade deficit with a value of $19 billion and 590 million has been recorded in between May to July.Experts were with the view that industrial production was adversely affected due to energy crisis in the fiscal year 2015-16. The experts also believed that uninterrupted supply of gas after LNG import in the country would enhance industrial growth.The increase in industrial production and exports were expected after export refinance rate had been set to 3pc.

Tragedy averted: Private airliner makes emergency landing at Karachi airport

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KARACHI (Dunya News) – Shaheen Airways flight NL-901, heading towards Manchester from Islamabad, faced a technical malfunction midair that caused the flight to be landed at Karachi’s Jinnah International Airport on emergency basis, reported Dunya News on Friday.The pilot’s expertise resulted in the perfect landing of the flight whereas all on-board, including the 150 passengers and flight crew, remained unharmed. The plane kept circling Karachis surrounding areas prior to making its landing to make sure that the fuel gets consumed and that it does not catch fire during the process of landing.Emergency was declared at the Jinnah International Airport before the landing of the flight and the emergency lights on the runway were illuminated. Sources state that one of the tyres of the plane burst after it took off from Islamabad’s Benazir Bhutto International Airport.The unfortunate plane tried to land at Lahore’s Allama Iqbal International Airport but was unable to do so because of the bad weather conditions.

Trade deficit exceeds $19 billion with 19% drop in exports

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KARACHI (Dunya News) – National exports has slumped to $21 billion and 850 million with a reduction of 12pc while imports worth $41 billion and 450 million has been recorded in 11 months of the present fiscal year, reported Dunya News on Friday.In this way, trade deficit with a value of $19 billion and 590 million has been recorded in between May to July.Experts were with the view that industrial production was adversely affected due to energy crisis in the fiscal year 2015-16. The experts also believed that uninterrupted supply of gas after LNG import in the country would enhance industrial growth.The increase in industrial production and exports were expected after export refinance rate had been set to 3pc.

Will only prosper as a nation if we educate our girls: Imran

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RAWALPINDI (Dunya News) – At the time when incidents of honour killing were on the rise, Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan at his residence spent time with young girls and adored them, reported Dunya News on Friday.In a statement, Imran Khan said that we as a nation could only develop if succeeded to educate and empower young girls of the country.

PSP to launch movement against Sindh, federal govt

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SUKKUR (Dunya News) – Addressing a press conference on Friday, Pak Sarzameen Party (PSP) leaders bashed opponents while party leader Ashfaq Mangi said that he left Muttahida Qaumi Movement (MQM) due to its anti-state policies, reported Dunya News.He said that those who took funds tried to destabilise the country and the very elements were the reason many young men lost their lives in the name of ethnicity while MQM leaders were busy doing politics.PSP leader also stated that it was necessary to eliminate inflation and unavailability of basic facilities.The party would launch a public movement against Sindh and federal government if the both the entities failed to progress towards the right direction, Mangi said.

War against terrorism cost Pakistan losses worth $14.80 bn in 2 years

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KARACHI (Dunya News) – Losses suffered by Pakistan in the War against terrorism over the past one year have been reduced by $4 billion as a result of the success achieved by Pakistan Army in Operation Zarb-e-Azb, reported Dunya News on Friday.The 20-point National Action Plan (NAP) formed to curb terrorism in the country has been greatly able to minimise losses suffered in the war against terrorism and forms the backbone of Pakistan army’s achievements in Operation Zarb-e-Azb as the country suffered losses worth $118 billion in the previous fourteen years of the war.Sources state that during fiscal year 2014-15, Pakistan suffered losses worth $9 billion 240 million in the war whereas this damage was reduced to $5 billion 560 million during fiscal year 2015-16.In this way, the loss suffered by Pakistan in the War against terrorism was reduced by $3 billion 680 million.

'Ansar murdered Haleema': Rizwan reneges before court

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KARACHI (Dunya News) – It seemed that Haleema murder case has been solved after Haleema’s alleged murderer Rizwan was arrested but the suspect who earlier gave a confessional statement about his crime denied all the allegations when presented before the court, reported Dunya.Rizwan appeared before the court and stated that his stepson Ansar murdered Haleema.On the other hand, investigative officer Sub-Inspector Nasarullah, along with remand also submitted a copy of suspect’s confessional statement in haste.On realising his mistake he pleaded defence attorneys and pleaded before the court to grant a 3-day remand along with medical treatment in hospital of the accused.The court then ordered to send the accused to jail and directed the officer to present challan by June 14.
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