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Saturday, May 30, 2015

Dunya TV

Dunya TV

Oil prices jump on US tightening, Saudi mosque attack

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NEW YORK (AFP) - Crude prices jumped more than $2.00 Friday amid more signs of US tightening and after another deadly attack on Shiites claimed by Islamic State in the heart of Saudi Arabias oil industry.US benchmark West Texas Intermediate (WTI) for July delivery rose $2.62 to $60.30 a barrel in New York trade.In London, Brent crude for July gained $2.98 to $65.56.The second bomb attack in a week on a Saudi mosque in the countrys oil-rich Eastern Province help spark the price gains.The attack, which killed three, took place in Dammam, just a few kilometers from both the headquarters of Aramco, the powerful Saudi state oil company, and the crucial Ras Tanura oil terminal and refinery.US prices were supported by a fall in the Baker Hughes US rig count, suggesting the industry is still cutting back activity.The US count fell by 13 to 646 active oil drilling rigs. A year ago, the total was 1,536.That combined with a fall Wednesday in US stockpiles to suggest tighter supplies in the future.There was some expectation and some anxiety that the rig count could come out as a positive number today, said Bob Yawger of Mizuho Securities.Instead it was down 13. We havent seen a number that big in a couple of weeks, he said.

Germany warns Ukraine truce turning 'very fragile'

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KIEV (AFP) - Germanys foreign minister warned Friday that the situation in Ukraines separatist east was turning very fragile and required all sides to refocus their efforts on salvaging a three-month truce.Frank-Walter Steinmeier flew into Kiev just days before Ukraines Western-backed President Petro Poroshenkos peace envoy meets pro-Russian rebel negotiators in Minsk, Belarus in a desperate bid to keep all-out warfare from resuming on the European Unions eastern frontier.In February a ceasefire agreement was reached in Minsk during marathon talks between the leaders of Germany and France, Poroshenko and Russias Vladimir Putin. It marked the sides second attempt at halting a 13-month war that has killed 6,300 and plunged East-West relations to a post-Cold War low.The truce succeeded in containing the fighting but failed to put an end to daily clashes around some of the most disputed hotspots.We can see that the ceasefire today is very fragile, and this causes some alarms, Steinmeier told reporters after talks with Ukrainian Prime Minister Arseniy Yatsenyuk.There are a lot of ceasefire violations, he said through his Ukrainian translator. Now, we have to think and find a way to turn this into a more stable situation.But a Friday phone call between Putin and the German and French heads of state appeared only to highlight the sharp differences Moscow still has with the West over what the future of the ex-Soviet nation should hold.Russias emphatic denial of direct involvement in the war has stymied repeated Western attempts to establish an open dialogue with Putin that could calm security fears across eastern Europe and nudge Ukraine out of political and economic crisis.The Kremlin said Putin pointed out to German Chancellor Angela Merkel and French President Francois Hollande that attacks by Ukrainian security forces on civilian targets that kill peaceful residents were becoming more frequent.Hollandes office in turn said that he and Merkel stressed to Putin the need for rapid progress in the implementation of all the measures adopted in Minsk.Battle for government portThe worst fighting has most recently gripped the eastern outskirts of the strategic pro-Kiev port of Mariupol and the Donetsk International Airport -- captured by the insurgents after months of attacks at the start of the year.An AFP team saw government forces stationed about three kilometres (two miles) from the devastated transit hub come under heavy rocket-propelled grenade attack on Thursday evening.The Ukrainian forces responded with their own heavy weapons fire and the clashes raged through the night and into Friday morning.Kiev on Friday reported the death of one Ukrainian soldier and a volunteer who supported the government troops.The likelihood that military activities will intensify is high, Ukrainian Defence Minister Stepan Poltorak said.They are lyingYatsenyuk on Friday openly derided Russias attempts to pin the latest violence on the pro-European team that rose to power in Kiev after the bloody ouster of Moscow-backed president Viktor Yanukovych in February 2014.Russia is categorically refusing to allow Ukraine to restore control over its national border, Yatsenyuk said after his talks with Steinmeier.Russias (claim) that Ukraine and the West are supposedly failing to fulfil the Minsk agreements are completely groundless, said Yatsenyuk.They are lying -- just like they always do.Ukraine this month captured two fighters in the east who identified themselves as active members of the Russian armed forces. Both reported performing a special reconnaissance mission ordered by their commanders.Putin argues that Russians fighting alongside the Ukrainian militants are either volunteers or off-duty soldiers who personally decided to join the war.

Crisis-hit Burundi says elections will go ahead

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BUJUMBURA, Burundi (AFP) - Burundis government insisted Friday that the first stage of controversial elections will go ahead next week despite the central African nations ongoing political crisis.Interior Minister Edouard Nduwimana said that even after the withdrawal of support from the influential Catholic Church and the European Union, parliamentary polls will take place next Friday.There isnt any electoral process that doesnt suffer from problems, in Burundi or any other country. We regret that certain partners have pulled out of the process... but despite this the elections will go ahead in good condition, he told AFP.That the EU withdraws and that the Church withdraws its priests does not mean the elections should not take place. The Burundian people are thirsty for these elections and we need to do everything so they take place in good conditions, he added.Burundis crisis erupted over President Pierre Nkurunzizas bid for a third term in office, with opposition and rights groups saying the move violates the constitution as well as the terms of a peace deal that ended a 13-year civil war in 2006.Burundis capital has been hit by weeks of civil unrest which has left at least 30 dead in a major security crackdown, and the crisis intensified earlier this month when a top general staged a failed coup attempt -- increasing fears that the impoverished, landlocked country could be plunged back into widespread violence.Parliamentary elections are due to be held on June 5, with a presidential poll scheduled for June 26.On Thursday, Burundis Catholic Church said it could not support the upcoming polls and that priests who serve in electoral commissions across the country would step down.The opposition has also said the holding of free and fair elections is impossible, with independent media silenced and allegations of threats and intimidation by Nkurunzizas supporters.Weekend summit plannedDemonstrations against Nkurunziza meanwhile continued on Friday, with two more protesters shot dead.One protester was shot dead by police in a district in the north of the capital, residents said, while a grenade explosion wounded two people in the city centre.Another person was shot dead and several others wounded when police opened fire to disperse a protest in Mukike, a commune outside the capital, a local official told AFP.Human Rights Watch accused Burundian security forces of using excessive force.The Burundian authorities should call a halt to the crackdown on peaceful opponents and critics, said Daniel Bekele, Africa director at HRW.They should order the police to stop using excessive deadly force, investigate the deaths and beatings of protesters at the hands of police, and hold those responsible for excessive force to account.Burundis Red Cross said they were treating a 12-year-old girl who had been raped, with local residents accusing a member of the police. The Red Cross also said it had received complaints of at least four other rapes in Musaga, a district of the capital that has been at the centre of the protest movement.According to HRW, Burundi has been gripped by pervasive fear.Medical personnel, journalists, and human rights defenders have received death threats and menacing phone calls, and been intimidated and harassed by the authorities. Many of those who were threatened have gone into hiding or fled the country, the group said.Regional heads of state are due to meet again on Sunday in the Tanzanian city of Dar es Salaam to discuss Burundis crisis but it is unclear whether Nkurunziza will attend.The last time the president left the country, for the previous regional summit on May 13, some members of the armed forces tried to overthrow him, launching an ultimately unsuccessful coup attempt.Neighbouring Tanzania, which has been openly critical of Nkurunziza, called on Burundis government to listen to its people.Our position is that we call on the Burundian people to remain calm and we urged the government to listen to them, Tanzanias foreign minister, Bernard Membe, told state-run TBC1 television.United Nations special envoy Said Djinnit meanwhile said talks between the government and opposition had made progress on several issues -- including the reopening of independent media and the release of detainees -- but not on the key issue of a halt to protests in return for Nkurunzizas agreement not to stand again.He said both sides have agreed to resume their talks after the summit in Dar es Salaam.

Live anthrax sent to Australia: US officials

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WASHINGTON (AFP) - US authorities investigating the mistaken shipment of live anthrax by a military lab have discovered another batch of the lethal bacteria dating back to 2008, some of which was sent to Australia, officials said Friday.The revelation suggested a wider problem in the handling of anthrax samples that were supposed to be rendered inactive by irradiation at a US Army facility in Utah.Military and health officials launched a probe after a commercial lab in Maryland last week found a live sample of anthrax in a shipment from the armys Dugway Proving Ground, near Salt Lake City.The Pentagon acknowledged on Thursday that at least 18 government, university and commercial laboratories received suspected live samples of anthrax from a batch irradiated in March 2014.Samples from that batch were distributed to various labs for research in nine states as well as at the US militarys Osan air base in South Korea.But on Friday, officials said the investigation turned up another batch of live anthrax, which was meant to be made inactive or dead in 2008.It was not clear precisely when samples from the 2008 batch were sent out or where the samples were sent to -- apart from Australia, officials said.We are still trying to figure out where the samples were sent, a US official who spoke on condition of anonymity told AFP.US military and health authorities insisted there was no threat posed to public health and no suspected cases of infection.Four lab workers in the sates of Texas, Delaware and Wisconsin had been put on antibiotics as a precaution, according to the Centers for Disease Control (CDC).In addition, 22 military and civilian personnel were also placed under preventative treatment at Osan air base in South Korea, the Pentagon said.Lawmakers earlier voiced alarm over the mishap involving the 2014 batch of anthrax, and demanded army officials explain what went wrong.While the Army says it is confident no one has been harmed, it needs to tell us what is being done immediately to prevent this from happening again, Senator Bill Nelson said in a letter to Army secretary John McHugh.

US stocks sag as consumer confidence slips

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NEW YORK (AFP) - US stocks fell modestly Friday as a key consumer confidence measure came in lower and the government confirmed that the economy contracted in the first quarter.The Dow Jones Industrial Average lost 115.44 points (0.64 percent) to 18,010.68.The broad-based S&P 500 shed 13.40 points (0.63 percent) at 2,107.39, while the tech-rich Nasdaq Composite Index fell 27.95 (0.55 percent) at 5,070.03.Analysts said there was some disappointment with the economic news released Friday. The revised GDP figure for the first quarter, showing a 0.7 percent contraction, was not a surprise.But perceptions of a rebound in growth since then were tempered by a fall in the May Chicago regional business activity index, into negative territory, and a sharp fall in the University of Michigans consumer confidence index to 90.7 from 95.9 in April.The market was also being cautious going into the weekend with no deal in sight in Greeces crunch bailout talks with official creditors.The consumer confidence and the Chicago PMI plunged a bit, and I think this is about Greece, said Peter Cardillo of Rockwell Global Capital.The fact that (IMF chief Christine) Lagarde yesterday indicated that there is the potential for Greece leaving the eurozone, thats on the mind on investors and ahead of the weekend, this is causing this decline.Market action focused on Intel and Altera after a media report said Intels bid for its chip-making rival is still alive. In April it was believed Altera rejected an offer reported as just above $50 a share.Altera shares surged 4.0 percent to $48.85, while Intel was up 1.5 percent at $34.51.Speculation on that deal came after Thursdays announcement that telecommunications chip specialist Broadcom would be acquired by Singapore-based Avago Technologies for $37 billion.Otherwise losses came across the board, with Alibaba falling 1.8 percent, and AB InBev and Novartis both falling 1.5 percent.Drug producer Merck bucked the trend with a 2.0 percent gain, after it announced it would partner with Amgen in work on developing two cancer drugs. Amgen shares lost 0.7 percent.Bond prices rose. The yield on the 10-year US Treasury fell to 2.10 percent from 2.13 percent Thursday, while the 30-year dropped to 2.85 percent from 2.89 percent. Bond prices and yields move inversely.

Colombian govt, FARC rebels begin clearing landmines

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HAVANA (AFP) - The Colombian government and FARC guerrillas have begun working together on clearing the countrys landmines, officials said Friday, but their peace talks remain fragile amid a surge in fighting.FARC members and an army battalion carried out a preliminary seven-day mission to locate anti-personnel mines in the northern department of Antioquia, said officials from Cuba and Norway, the countries facilitating the talks.The pilot mission is the first step in a March agreement between the government and the Marxist guerrillas to disable all mines placed during half a century of civil war.This is a hopeful gesture for peace in Colombia, said FARC commander and peace negotiator Pastor Alape at the talks in Havana.The goal of the preliminary mission was to gather information to identify the areas that are really contaminated with mines, said Cuban diplomat Rodolfo Benitez.Subsequent missions will remove and destroy the mines, officials said.Colombia has the second highest number of landmine casualties in the world after Afghanistan.Since 1990, mines have killed more than 2,000 people and wounded more than 9,000.But while the joint mine clearing initiative has been broadly welcomed as a sign of progress at the peace talks, tensions have soared since the FARC killed 11 soldiers in an ambush last month, despite having declared a unilateral ceasefire in December.They defended the attack as a defensive action against an army siege, but President Juan Manuel Santos ordered the resumption of air strikes on FARC positions, which he had suspended in recognition of their ceasefire.Some 40 FARC fighters have been killed in air and ground strikes since last week, including two high-ranking commanders.The FARC in turn killed three soldiers in clashes this week in the oil fields of the Arauca department, near the Venezuelan border.Analyst Ariel Avila of Colombias Peace and Reconciliation Foundation said he fears an unstoppable spiral of violence in the coming weeks, jeopardizing the peace talks opened in November 2012.The risk for the peace process is very high, he said.Previous efforts to negotiate a peace deal have all been derailed by fighting on the ground.The new violence comes as Santos prepares to head to Brussels for the European Unions annual summit with the Community of Latin American and Caribbean States.Santos, who won a new term last year in elections seen as a referendum on the peace process, will be in an awkward position with the EU, which has condemned the increase in hostilities.Santoss plans to look like the great peacemaker are going to be a little rattled, said a European diplomat in Bogota.The peace talks in Cuba have reached partial deals on several issues but have yet to yield a final accord.The Colombian conflict has killed more than 200,000 people and uprooted more than six million since the Revolutionary Armed Forces of Colombia launched its guerrilla war in 1964.

US demands immediate halt to South China Sea reclamations

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SINGAPORE (AFP) - The United States on Saturday called for an immediate and lasting halt to reclamation works in disputed waters in the South China Sea, saying Chinas behaviour in the area was out of step with international norms.First, we want a peaceful resolution of all disputes. To that end, there should be an immediate and lasting halt to land reclamation by all claimants, US Defense Secretary Ashton Carter told a high-level security conference in Singapore.We also oppose any further militarisation of disputed features, he said, stressing that US forces would continue entering what he called international waters in the South China Sea.Carter added that with its actions in the South China Sea, China is out of step with both the international rules and norms.He acknowledged that other claimants have developed outposts of differing scope and degree, including Vietnam with 48 outposts, the Philippines with eight, Malaysia with five and Taiwan with one.Yet, one country has gone much farther and much faster than any other.And thats China. China has reclaimed over 2,000 acres, more than all other claimants combined and more than in the entire history of the region. And China did so in only the last 18 months, Carter said.It is unclear how much farther China will go. That is why this stretch of water has become the source of tension in the region and front-page news around the world.

Defiant Blatter wins FIFA vote amid corruption storm

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ZURICH (AFP) - Sepp Blatter won a fifth term as FIFA president on Friday in a dramatic end to an angry campaign dominated by a corruption storm that engulfed the leadership of world football.His challenger Prince Ali bin al Hussein withdrew from the race after preventing Blatter from getting the required majority in the first round of voting.Blatter, who had defied calls to resign, raised his arms in triumph and promised the congress to be the commander who guides this boat FIFA out of the corruption turmoil it has sunk into.Im not perfect. Nobody is perfect. But we will do a good job together, he said.The 79-year-old Blatter also indicated he would not stand again, saying he would hand over a strong FIFA to my successor in four years.The end of the campaign was overshadowed by the arrest in Zurich on Wednesday of seven FIFA officials, including two vice presidents, accused by US authorities of taking tens of millions of dollars in bribes.A top US federal investigator said he was fairly confident there would be another round of indictments in the case, the New York Times reported Friday.We strongly believe there are other people and entities involved in criminal acts, said Richard Weber, leader of the US Internal Revenue Service criminal investigations unit. He would not identify the remaining targets or say if they included Blatter.Swiss police are also investigating the award of the 2018 and 2022 World Cups to Russia and Qatar which have also been surrounded by corruption allegations.Blatter fell seven votes short of the two thirds majority to win in the first round. He got 133 votes to Prince Alis 73.The brother of Jordans king got further than any challenger to Blatter, highlighting divisions within the scandal-tainted body he will struggle to overcome.The prince thanked those brave enough to vote for him before announcing he was pulling out.In a final plea for votes, Blatter vowed to lead FIFA out of the corruption controversy if reelected.Morally bankruptI promise a strong FIFA, I want to climb back up the hill, arrange FIFAs situation. I want a beautiful, robust FIFA, out of the storm, he said.Prince Ali promised transparency and to restore respect.We have heard questions raised about whether our family is morally bankrupt, the prince said in his final campaign address.Most of Europes 53 votes went to Prince Ali, along with the United States and Australia. But Blatters rockbed support in Africa and Asia saw him through.Blatter questioned the timing of the Zurich arrests, declaring: People say it was a coincidence. But I have a small question mark.Blatter said the arrests had unleashed a storm. But he repeated his case that he cannot monitor football affairs alone and calling for greater action by regional confederations and national associations.Blatter scored one victory when the Palestinian Football Association withdrew a motion to expel Israel from FIFA because of restrictions on Palestinian teams.But his victory was met with new hostility from the football leaders who have opposed him in the past six months.On Thursday, he rejected an appeal by UEFAs president Michel Platini to resign because of the scandals that the European football leader said has critically tarnished FIFAs image.Platini was among those to express disappointment at the result and praise Prince Alis campaign.I am proud that UEFA has defended and supported a movement for change at FIFA. Change which in my opinion is crucial if this organisation is to regain its credibility, he said.Platini said UEFA could discuss measures against FIFA on June 6.This vote has only served to endorse the election of a man who cant remain in charge of world football, said Luis Figo, the former Portuguese star who was a candidate in the race until last week.Theres no way someone can lead FIFA ignoring the most elementary rules of transparency, legality and democracy, Figo added.Football Federation Australia chairman Frank Lowy said he was disappointed but hoped Blatter would work to restore the bodys reputation.We will continue to push for meaningful change within FIFA, commented US Soccer president Sunil Gulati.Blatter has remained defiant as governments joined sponsors in crying foul over FIFAs corruption scandal.British Prime Minister David Cameron has backed calls for Blatter to resign while French President Francois Hollande said sports groups running major events must be irreproachable.German Foreign Minister Frank-Walter Steinmeier warned that if world football cannot clear up poisonous corruption, government agencies would be forced to step in.Sponsors angerAfter Blatters re-election, FIFA sponsors Coca-Cola, Budweiser and McDonalds called for quick moves to transparency.Credit card giant Visa has threatened to reassess its sponsorship if FIFA does not clean up its act.South Koreas Hyundai Motor, a major sponsor of FIFA, has also said it was extremely concerned at the new scandals.United Nations says it is reviewing its cooperation accords with FIFA.The seven arrested football officials -- including FIFA vice presidents Jeffrey Webb and Eugenio Figueredo -- remained in custody Friday. Six have indicated they will fight extradition to the United States, Swiss authorities said.

China deployed artillery in S.China Sea: US officials

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WASHINGTON (AFP) - China recently deployed two artillery pieces on one of its artificial islands in the South China Sea, an unprecedented move that suggests Beijing is trying to extend its military reach in the contested waters, US officials said Friday.The heavy weapons, since removed, posed no security threat but their positioning -- within range of territory claimed by Vietnam -- underscored Washingtons concerns that China is pursuing a massive island-building project for military purposes, officials said.The two motorized artillery pieces were spotted on a manmade feature about a month ago in the Spratly Islands region, a defense official, speaking on condition of anonymity, told AFP, citing surveillance imagery.It is the first time that China has been accused of deploying artillery or other weaponry on their manmade islands in the area.We can confirm we have identified some weapons on one of these reclaimed Chinese islands, Pentagon spokesman Colonel Steven Warren told reporters.The militarization of these islands is something were opposed to.China and the United States have been engaged in an escalating war of words over the South China Sea, where Beijing has rapidly built up reefs over about 2,000 acres (800 hectares) -- including 1,500 acres just since January.The construction includes outposts that could be used for surveillance systems, harbors, an airfield and logistics support, according to a recent Pentagon report on Chinas military.On Wednesday, US Defense Secretary Ashton Carter, who is on a 10-day tour of Asia, said Washington wanted a peaceful resolution of all disputes and an immediate and lasting halt to land reclamation by any claimant.Beijing out of stepThe United States has insisted the areas claimed by China are international waters and airspace, and has sent out surveillance planes and naval ships to drive home the point.The Pentagon chief, speaking in Hawaii, also said there should be no mistake: The United States will fly, sail, and operate wherever international law allows, as we do all around the world.Beijings actions in the South China Sea are out of step with both international norms and the regional consensus that opposes coercive methods to resolve territorial disputes, Carter said.Chinas actions were bringing neighboring countries closer and prompting increasing demand for American engagement in the region, he added.Last week the Chinese military ordered a US Navy P-8 Poseidon surveillance aircraft to leave an area above the heavily disputed Spratly Islands. But the American plane ignored the demand and stated it was flying in what US officials deem to be international airspace.Beijing has defended its dredging work in the contested waters and accused Washington of singling out China over an activity that other countries in the region are also engaged in.China insists it has sovereignty over nearly all of the South China Sea, a major global shipping route which is believed to be home to a wealth of oil and gas reserves.The Philippines, Vietnam, Malaysia, Taiwan and Brunei also claim parts of the sea.Tensions in the South China Sea will likely dominate the Shangri-La Dialogue this week in Singapore, a major annual security conference that gathers defense ministers and top brass from across Asia. Carter is due to deliver a speech at the conference.

Iran, US eye 'intense' month to seal historic deal

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WASHINGTON (AFP) - US top diplomat John Kerry and his Iranian counterpart Saturday launch a new high-stakes diplomatic drive to nail down an unprecedented nuclear deal as they hurtle towards a deadline just one month away.US officials warned the weeks leading to June 30 would be intense, vowing to keep the pressure on to force the Iranians and everyone at the table to make the tough decisions needed to end a 12-year standoff and put a nuclear bomb beyond Irans reach.Sealing a long-elusive deal with the Islamic republic could prove President Barack Obamas lasting foreign policy achievement.But after three decades of enmity, it may also pave the way towards better ties between Washington and the Shiite regional power, bringing Iran back into the international fold and creating fresh impetus to resolve a host of conflicts grown ever more perilous in the Middle East.Kerry and Iranian Foreign Minister Mohammad Javad Zarif will meet once again in the Swiss city of Geneva, as the United States with its partners -- Britain, China, France, Germany and Russia -- seek to finalize the complex pact.After an interim accord hammered out in the Swiss city in November 2013, the United States and Iran are grappling with the final details of the ground-breaking agreement which would see Iran curtail its nuclear ambitions in return for a lifting of a web of international sanctions.Time running outThe two diplomats are due to meet Saturday, but US officials did not rule out that the talks could stretch into a second day as the clock ticks down to the deadline.After eight days of emotional, tough talks in Lausanne, the delegations unveiled on April 2 a framework to guide the last stretch of negotiations, with Iran agreeing to rein in and mothball large sections of its nuclear program.But differences remain, while both the United States and Iran are under immense pressure from hardliners at home.We have a month left. I do think youll see it escalate at the political level, a senior State Department official told reporters Friday, saying Kerry wanted to meet with Zarif to discuss the really tough sticking issues.June is going to be a pretty intense month both at the expert level and the secretarys level, but I think we definitely still believe we can do it.Since the April 2 accord, technical experts have been meeting quietly behind the scenes to overcome the remaining issues. But many of the decisions now need to be made at a political level.The US official said that the accord would have multiple annexes perhaps as many as three or more, which are already being drafted.And despite rumblings from both Iranian and French officials that the talks may drag on beyond June 30, US officials insisted that was not on the table.Weve been very clear that we are not contemplating an extension at this point. June 30th is a real date, the State Department official said.SnapbackSeveral sticking points still remain, including the possible military dimensions of the Iranian program and the demands by the P51 group for rigorous inspections of Irans nuclear sites.Iran also is demanding an accelerated lifting of US, EU and UN sanctions, while the P51 group wants a snapback mechanism to be put in place enabling the measures to be quickly reimposed if Tehran breaks the deal.Kerry will stress to Zarif the importance of granting access for inspections, a western diplomat said.Its one of the key legs of the stool. Its not the only leg, but if it is not included then the stool will fall over.Yukiya Amano, the head of the UNs atomic watchdog, told AFP this week that Iran had agreed to implementing the Additional Protocol of the Nuclear Non-Proliferation Treaty (NPT) that allows for snap inspections.When we find inconsistency or when we have doubts, we can request access to the undeclared location for example, and this could include military sites, he said.

Greece, growth worries keep cap on Wall Street

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NEW YORK (AFP) - Another volatile week marked by distrust over the US growth rebound and Greeces debt talks prevented US markets from locking in recent record highs.Tech stocks brooked most of the selling pressure, with the Nasdaq Composite scoring a fresh record Wednesday, but investors mostly saw more to worry about than reason to push ahead.That included a mix of economic data -- strengthening in the housing market but weaker consumer sentiment and a downturn in business activity in the Chicago area -- that failed to show a clear break with the 0.7 percent economic contraction of the first quarter.In addition, after repeated hints and then denials that a deal between Greece and its troika creditors on new financing was near, the market week ended without a pact to give Athens more funding that would allow it to service its debts.Many took to heart the remark by International Monetary Fund chief Christine Lagarde that an exit by Greece from the eurozone is a potential. That carried with it the implied default on payments owed to the IMF and European Central Bank, and more turmoil for the euro.The fact that Lagarde yesterday indicated that there is the potential for Greece leaving the eurozone, thats on the mind on investors, and ahead of the weekend, this is causing this decline, said Peter Cardillo of Rockwell Global Capital.For the week, the Dow Jones Industrial Average lost 2.21 percent to 18,010.68 points.The broader S&P 500 slipped 0.88 percent to 2,107.39. And the Nasdaq, which closed at a record 5,106.59 on Wednesday, also completed the holiday-shortened week down, giving up 0.38 percent to 5,070.03.Even so, at those levels, stocks were still within sight of their record highs.Wall Street showed its enthusiasm for more giant mergers during the week: Charter Communications $78.7 billion deal to buy Time Warner Cable, and chipmaker Avago Technologies $37 billion takeover of Broadcom, the largest tech sector deal since the dot-com boom.Confidence nibbled intoBut the economic data and Greece worries overrode that fervor.The week started on an optimistic note... but the data over the course of the week has really nibbled into that confidence, said Chris Low of FTN Financial.After the first quarter contraction, he said, its difficult to believe in a rebound when we continue to see weakness in April and May.A slew of fresh data on May coming out in the next week, including the jobs report and auto sales, could change that view if the numbers come in good.Tom Cahill of Ventura Wealth Management said the possibility that Greece would not strike a deal with official creditors for more funding and would default on its debt keeps investors on edge.Last time there was concern about Greece, it was problematic for the US stock market, he said.But Cahill also added that Wall Street shares are priced on the high side now, and earnings growth has slowed.The US has had a good run since 2009. Valuations are probably on the higher side of fair value, if not slightly overvalued.But he added that the ability of investors to shift from one market to another keeps some of the froth off of US stocks.As global investors, the lifeblood of a bull market is that we can look from one market to the next. The US market seems to be getting better and stabilizing, so thats good.

Yen's slide continues; euro edges higher vs dollar

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NEW YORK (AFP) - The yen slid to a fresh 12-year low against the dollar Friday as growth in the two major economies continued to diverge.The euro meanwhile edged higher against the greenback amid fresh pressure from the G7 on Greece and official creditors to reach a new financing deal before the country defaults on its debt.The dollar rose past 124 yen, with the Japanese currency pushed downward by a flat inflation reading and falling household spending in April and economists warnings that the Japanese economy will have a weak second quarter.The dollar remained in a narrow range for the euro, but showed more strength against the British currency, pushing to $1.5287 per pound, the greenbacks best level in three weeks.The dollar is king for May, and we believe that it can last into June, although gains may not be as broad-based as this month, said Kathleen Brooks at Forex.com.However, it may struggle vs the euro if we get a last minute Greece deal, she said.2100 GMT Friday ThursdayEUR/USD 1.0991 1.0947EUR/JPY 136.42 135.70EUR/CHF 1.0329 1.0335EUR/GBP 0.7190 0.7149USD/JPY 124.12 123.96USD/CHF 0.9398 0.9441GBP/USD 1.5287 1.5313

Russia releases 89-name EU travel blacklist

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THE HAGUE (AFP) - Moscow has released a blacklist of European Union politicians barred from Russia in response to EU sanctions over Crimea and Ukraine, Dutch Prime Minister Mark Rutte said on Friday.Russia yesterday handed over a list of people to diverse EU embassies who may not enter Russia any longer, Rutte said at a weekly press conference, adding that two Dutch MPs and a Dutch MEP were on the list.The list contains 89 names, according to a letter from Belgian Foreign Minister Didier Reynders tweeted by Belgian MEP Mark Demesmaeker.The letter, which was confirmed as authentic by the Dutch foreign ministry to AFP, said Moscow had asked for the list not to be made public.Moscow drew up the list in response to the EUs own sanctions and travel bans over Russias annexation of Crimea last year and its alleged involvement in the eastern Ukraine conflict, Rutte said.A spokeswoman for the EU diplomatic service in Brussels told AFP that Russia had barred several European politicians from entry in recent months, but had so far refused to provide a list of those targeted.We take note that the Russian authorities have decided to share the list. We dont have any other information on legal basis, criteria and process, the spokeswoman said in an email statement.Guy Verhofstadt, head of the Liberal group in the European Parliament and a former Belgian PM, is also on the list, his spokesman Jeroen Reijnen told AFP.Verhofstadt is banned from entry to Russia. He is on a blacklist with around 80 people, Reijnen said, saying the ban came after Verhofstadt called for an independent international probe into the murder of Russian opposition leader Boris Nemtsov.Swedens foreign ministry confirmed eight of its nationals were also on the list, but did not reveal any names.It is very striking behaviour which unfortunately does not improve Russias image and we have asked for a clarification for this conduct, Swedish Foreign Minister Margot Wallstroem was quoted as saying by news agency TT.Finnish public broadcaster YLE said Green Party MEP Heidi Hautala had also been blacklisted.Right to knowRutte meanwhile said the Dutch government rejected Russias action and would let Moscow know so in no uncertain terms.The list was not based on international law, was not transparent and could not be challenged in a court of law, he added.Berlin demanded that Moscow make the list public as well as how to contest it.The (German) government expects the Russian authorities to publish any barred list as well as the judicial means of contesting it, the German foreign ministry said in a statement.The people on this list must immediately know about it. They have the right to know the reasons and appeal, Berlin said.Moscow on Sunday turned back German MP Karl-Georg Wellmann, who has strong links to Ukraine, from Moscow airport, despite his having been invited to take part in political discussions.The Russian authorities put him back on a plane for Berlin and slapped an entry ban on him until 2019, German media reported.In Wellmanns case, the German government will demand transparency and legal rights for each comparable case, Berlin said on Friday.Russian deputy foreign minister Alexei Meshkov said on Wednesday that Moscow could think about making the names of those barred known in the wake of the Wellmann incident.We feel that our policy aimed at protecting the personal information of those on the list of those barred from entering Russia is better than that of our Western partners of shouting names from the rooftops, he said, according to Russian news agencies.Anyone who thought they might be barred from entry could go to a Russian embassy to find out, he said.Russias ambassador to the EU, Vladimir Chizhov said last week that no one is (barred) by chance but that the list did not include leaders or high officials.Russian President Vladimir Putin strongly denies backing the insurgency in eastern Ukraine that erupted after a pro-Kremlin president was ousted in February 2014. The fighting has killed more than 6,300 people so far.The Kremlin hopes a current shaky ceasefire will prompt the European Union to lift some of the more punishing sanctions against Russia in the next few months.

Thousands gather for opening of World Trade Center deck

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NEW YORK (AFP) - Thousands gathered Friday to take in the New York skyline as the observation deck of the new World Trade Center -- viewed by many as a symbol of the citys resilience -- opened to the public.The gleaming glass tower, constructed on the site where the Twin Towers stood before being destroyed in the September 11 attacks of 2001, is the tallest building in the Western hemisphere.Following an early morning ribbon cutting, visitors thronged the observatory, which offers spectacular views of the city from the towers 100th, 101st and 102nd floors.Operators expect between three and four million visitors a year, who will be able to take in the 360-degree panorama from a dizzying 1,250 feet (380 meters).The World Trade Center, also known as Freedom Tower, welcomed its first tenants last year, but the general public was only allowed its first in-person glimpse following the ribbon cutting.The observatory affords stunning views of the Statue of Liberty, Central Park, the Brooklyn Bridge and neighboring New Jersey.On a clear day, visitors are able to see for 50 miles (80 kilometers).Floor-to-ceiling LED technology provides visitors with a virtual time-lapse that recreates the development of the citys skyline from the 1600s to present day.Historic dayOutside the entrance, in the late morning, US Army veteran Michael Lanza posed for a photo with a large American flag.This is a sign of American resiliency, that no matter what evil storms on us, we will always come back, we will always be victorious, the 32-year-old said.It is important because I am a veteran. I served in the Army for three years, I love my country, he added.One of the first visitors to descend from the observation deck, Jim Vermeer, said the views were majestic.They dont want to dwell on the past, they want to dwell on the future and American perseverance, said the Iowa native, who was in New York celebrating his 35th wedding anniversary.Suzanne Goldstein of California, who said she comes to New York twice a year, was also there for opening day, having watched the new structure being built from the very beginning.At the entrance to the observatory, visitors passed through tough security measures similar to those at airports.The observatory will be open seven days a week, with a basic admission price of $32 for adults.

Football: History on the agenda as Arsenal aim to retain FA Cup

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LONDON (AFP) - Holders Arsenal face Aston Villa in the FA Cup final on Saturday with a pair of historic landmarks driving the Gunners in their bid to retain the famous old trophy.A victory over Villa at Wembley would make Arsenal chief Arsene Wenger the first post-war manager to win the FA Cup six times, taking him ahead of Alex Ferguson and level with George Ramsay -- the only boss to have won six FA Cups, with his last coming in charge of Villa in 1920.There would also be a significant slice of history for Wengers club if they see off Villa as it would make them the most successful team in the history of the competition with 12 Cup-winning campaigns.Arsenal will go into the match as favourites after routing Villa 3-0 and 5-0 in their two Premier League encounters and finishing 14 places above them this season.But those defeats came before Tim Sherwood replaced Paul Lambert as manager in February and sparked a revival that pulled Villa clear of the relegation zone and into their first FA Cup final since 2000.Key to Arsenals hopes of becoming the first team to retain the FA Cup since Chelsea in 2010 is the form of Wales midfielder Aaron Ramsey, who scored the extra-time winner in last years final against Hull.Dynamic forceRamseys lung-bursting runs, eye for a defence-splitting pass and clinical finishing combine to make him such a dynamic force that Spanish champions Barcelona are reportedly considering a bid to buy him.But Ramsey refuses to be distracted by transfer talk, saying: Thats just something thats been written in the papers. Im focused on Arsenal and winning the FA Cup.If we can win the Cup that will be two trophies in two years so hopefully we can just keep that run of winning things going.Back-to-back finals are not an easy thing to achieve. In the second half of the season we have shown the form that we need throughout the season to win this league.If we can just show that consistency throughout the season then well be challenging for the Premier League, and thats what well be looking to do next year.Buoyed by Sherwoods bubbly personality and their late-season improvement, Villa believe they can end their 58-year wait to win the FA Cup if they produce the kind of effervescent display that vanquished Liverpool in the semi-finals.If they do take the trophy back to Villa Park, it is a safe bet 19-year-old midfielder Jack Grealish will have played a starring role.Grealish has burst onto the scene in the last few weeks with some vibrant displays in midfield and Sherwood expects another influential effort against Arsenal.He has coped with the pressure up until now, when he is asked to step up he has ticked the boxes, Sherwood said.The bigger the stage the better hes been and there isnt any bigger stage than this one.He is great, he loves playing. I dont think he gets nervous. He doesnt look the type. Hes a terrific player and were happy hes on our side.

Posted by IMRAN ALI SOOMRO (DARVESH) at 5/30/2015 07:43:00 AM

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