Dunya TV

‘There’s divide in PTI’, let’s see who rises to the occasion: Imran Khan

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ISLAMABAD (Dunya News) – Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan said on Wednesday that there’s a visible divide within his party, adding that the real ideological people will remain loyal while those who had joined to benefit from …

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Iran looks to better EU ties with Italian at helm

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ROME (AFP) – Iran is looking forward to improved relations with the European Union following the appointment of an Italian to be the blocs next foreign policy supremo, Foreign Minister Mohammad Javad Zarif said here Wednesday.Zarifs comments came after…

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European stocks rally on Ukraine ceasefire hopes

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LONDON (AFP) – Europes main stock markets rallied on Wednesday on reports of a ceasefire in Ukraine and renewed prospects of eurozone monetary easing on the eve of a European Central Bank rate decision.Londons benchmark FTSE 100 index soared to 6,898.62 points — last seen in January 2000 — as investors also welcomed solid services sector data.The FTSE closed at 6,873.58 points, up 0.65 percent from Tuesdays close.Frankfurts DAX 30 index jumped 1.26 percent to 9,626.49 points and the Paris CAC 40 leapt rose 0.99 percent to 4,421.87 points, as weaker-than-expected data strengthened hopes of ECB stimulus.Asian markets were cheered overnight by upbeat data from China, which showed the service sector in the worlds second-largest economy hit strengthened to its highest level in seven months.Better-than-expected services PMI numbers from China, increased hopes that the ECB would act to stimulate the struggling eurozone economy and hopes of a lasting ceasefire between Ukraine and Russia all combined to drive sentiment, said Tony Cross, a market analyst at Trustnet Direct.But news that Ukraines Prime Minister Arseniy Yatsenyuk had rejected the ceasefire plan to end months of conflict in the east of the country weighed on Wall Street equities.In mid-afternoon trading, the Dow Jones Industrial Average had lost earlier gains to edge up 0.07 percent to 17,080.19 points.The broad-based S&P 500 dipped 0.13 percent at 1,999.73 points, while the tech-rich Nasdaq Composite Index lost 0.64 percent to 4,568.69 points.- Ceasefire hopes dim -Ukraines beleaguered President Petro Poroshenko announced on Wednesday that he and Russias Vladimir Putin had agreed to a permanent ceasefire in the east of the former Soviet country.But hopes for the deal quickly evaporated when Ukraines Prime Minister Arseniy Yatsenyuk rejected the plan proposed by Russian President Vladimir Putin as an attempt to deceive the West.This latest plan is another attempt to pull the wool over the eyes of the international community ahead of the NATO summit, he said in a statement.The talk of progress towards a ceasefire had helped the Russian ruble, which recovered as far as 36.6605 to the dollar on Wednesday from a record low of 37.5094 on Monday.Moscow stocks also soared. The ruble-denominated MICEX index jumped 3.49 percent and the dollar-denominate RTS index leapt 5.20 percent.The positive sentiment was also buoyed by hopes the ECB may move to stimulate Europes lagging economy on Thursday, when both it and the Bank of England are due to meet.Given the slew of negative economic numbers weve seen out of the eurozone this morning, theres certainly added weight on (ECB President) Mario Draghi to act, said Valutrades analyst Joao Monteiro.- Eurozone private sector slows -Eurozone business activity slowed more sharply than previously estimated in August, new data showed.Markit Economics Eurozone Composite Purchasing Managers Index (PMI) fell to 52.5 in August from 53.8 in July. That was the lowest level so far this year and weaker than a preliminary estimate of 52.8.The 50-point line which marks the difference between expansion and shrinkage of the economy.Gloomy euro-area macroeconomic numbers (are) now fuelling expectations that Draghi will institute some sort of quantitative easing measures, noted ETX Capital analyst Daniel Sugarman.In corporate news, shares in Hermes slumped 3.43 percent after rival luxury goods giant LVMH said it had reached an agreement over its contested holding of 23.0 percent of Hermes. LVMH jumped 2.89 percent.In London currency deals on Wednesday, the euro firmed to $1.3138, up from $1.3132 late in New York on Tuesday, when it had reached a near one-year low at $1.3110 on expectations of ECB stimulus.The single currency gained to 79.86 pence from 79.74 pence late in New York on Tuesday, while the pound fell to $1.6451 from $1.6469.Gold meanwhile sank to $1,261.41 per ounce — the lowest level since mid-June — as traders were reassured by the ceasefire reports. The safe-haven investment is normally lifted by geopolitical crises.It later recovered to 1,265.50 per ounce, down from $1,267 on Tuesday on the London Bullion Market.

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EU fines Samsung, Philips and Infineon over smartcard chip cartel

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BRUSSELS (AFP) – The European Union fined Infineon, Philips and Samsung a total of 138 million euros (181 million dollars) on Wednesday for fixing the prices of smartcard chips, in its latest anti-trust case against technology firms.The German, Dutch a…

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Mobile wallet rebrands as Softcard

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WASHINGTON (AFP) – US mobile payments firm Isis has officially changed its name to Softcard, completing the process of distancing itself from a militant Islamic group sometime known by the same acronym.The company, which is backed by US wireless giants AT&T, Verizon and T-Mobile, announced in July it was dropping the name Isis, which may also be a reference to the militant group Islamic State of Iraq and Syria, also known as the Islamic State of Iraq and the Levant (ISIL).However coincidental, we have no desire to share a name with this group and our hearts go out to those affected by this violence, chief executive Michael Abbott said in a statement.Our search for a new name has been rooted in our founding vision: to use the power of the mobile phone to help consumers find a safer and better way to shop, pay and save. But we also wanted a name and visual identity that had the power, flexibility and simplicity to define our category.The rebranding will be completed in a few weeks, according to the company website.The service allows its customers to load card payment information to a smartphone, which can then be swiped at a merchant terminal.

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‘Political Jirga’: Dialogue efforts to resolve political crisis continue

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ISLAMABAD (Dunya News) – The political Jirga under headship of Jamaat Islami (JI) chief Sirajul Haq met Pakistan Awami Tehreek (PAT) leaders in a bid to find a solution to the ongoing political crisis, Dunya News reported.The Jirga participants i…

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Turkey jails policeman over protester killing

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ANKARA (AFP) – A Turkish policeman was jailed for seven years and nine months on Wednesday after being convicted of shooting dead a protester during 2013 anti-government protests.The trial of Ahmet Sahbaz was seen as a crucial test of the authorities w…

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Oil market rebounds from losses

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LONDON (AFP) – World oil prices rebounded on Wednesday as traders snapped up bargain crude following recent heavy losses, analysts said.Brent North Sea crude for October jumped $1.09 to $101.43 per barrel in early afternoon London deals, having tumbled…

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China marks WWII victory over Japan

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BEIJING (AFP) – Chinese President Xi Jinping and all six other members of the Politburo Standing Committee, the countrys most powerful body, made a rare public appearance Wednesday to commemorate 69 years since Japans surrender at the end of World War …

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Mobile wallet rebrands as Softcard

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WASHINGTON (AFP) – US mobile payments firm Isis has officially changed its name to Softcard, completing the process of distancing itself from a militant Islamic group sometime known by the same acronym.The company, which is backed by US wireless giants AT&T, Verizon and T-Mobile, announced in July it was dropping the name Isis, which may also be a reference to the militant group Islamic State of Iraq and Syria, also known as the Islamic State of Iraq and the Levant (ISIL).However coincidental, we have no desire to share a name with this group and our hearts go out to those affected by this violence, chief executive Michael Abbott said in a statement.Our search for a new name has been rooted in our founding vision: to use the power of the mobile phone to help consumers find a safer and better way to shop, pay and save. But we also wanted a name and visual identity that had the power, flexibility and simplicity to define our category.The rebranding will be completed in a few weeks, according to the company website.The service allows its customers to load card payment information to a smartphone, which can then be swiped at a merchant terminal.

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