Politics Today

Some private oil marketers stormed the department of petroleum resources warri this morning around 10 am to protest chanting "we no gree oo, we no gree".They spoke to our reporter that they came to show their grievances on their filing station which has been sealed by the Company.They said have meeting up with the rules and regulations given to them by the department of petroleum resources, they still put their filling station under seal and that it is affecting their business and means of livelihood.
After their was calm they were told that the problem will be looked into.
We will bring you the update watch the space









Source:babatundethepresident blog

ISLAMABAD: The government on Saturday announced to reduce prices of all petroleum products by Rs 5 per litre.

According to the announcement, the new price for petrol, to be effective from February 01, would be Rs 71.25 and the price of high speed diesel would be Rs 75.79 per litre.

Similarly, high octane price would be Rs 75.66 per litre while that of kerosene oil and light diesel oil would be Rs 43.25 and Rs 39.94 per litre respectively for the month of February.

In a statement, Finance Minister Ishaq Dar said that decrease of Rs 5 per litre had been approved by the prime minister. He said that in percentage terms, the decrease is from 6.2 percent for high speed diesel and HOBC to 11.1 percent for the light diesel oil.

The minister stated the government had been passing on benefit of decrease in oil prices in the international market to the consumers in the country. He said the prices announced for the month of February were another manifestation of the government’s resolve to provide maximum relief to the general public.



DAILY TIMES
YEMI

KARACHI: Governor State Bank of Pakistan (SBP) Ashraf Wathra on Saturday said that local economy was facing different challenges despite the macro-economic indicators have showed sustainability during the last financial year.

The SBP kept the policy rates unchanged in the first monetary policy announced in year 2016, slightly against the expectations of analysts who believed in the room for cut in policy rates by at least 50 basis points.

On the occasion of monetary policy announcement, the SBP chief mentioned the challenges facing Pakistan’s economy that included decline in exports due to contraction of trade at the regional and the local levels.

Responding to a question, he said that decline in exports could not be attributed to interest rates of banks for specific schemes but it was a global issue which had been hurting Pakistan as well.

There are challenges to overall economic performance from the declines in the production of cotton and rice.

The monetary policy pointed out that the major macroeconomic indicators continued to exhibit improvements in the first half of the current fiscal year, whereas the inflationary environment stayed benign, large scale manufacturers (LSM) gained traction and fiscal consolidation remained on track.

In addition, successful completion of ninth review under IMF’s EFF and disbursements from multilateral and bilateral sources added to country’s external buffers. With the pickup in private sector credit, for fixed investment in particular, along with improving security situation reflected strengthening of investor and consumer confidence.

The average CPI inflation declined to 2.1 percent during July-December 2015, with perishable food items and motor fuel leading the way. Meanwhile, trend in YoY CPI inflation reversed as it rose for third consecutive month to 3.2 percent in December 2015.

Keeping in view the benign outlook of global commodity prices, expectation of a moderate pickup in domestic demand and further ease in supply side constraints, SBP expected the average inflation in FY16 to remain in the range of 3 to 4 percent. However, global oil price trends and excess domestic food stocks (wheat, rice, and sugar) may exert downward pressures on inflation.

Large-scale manufacturing (LSM) grew by 4.4 percent during Jul-Nov FY16 as compared to 3.1 percent in the same period last year. LSM mainly benefitted from monetary easing, falling international prices of key inputs, better energy situation, increased domestic demand for consumer durables, and expansion of construction activities.

The uptick in economic activity appears to continue beyond FY16 on the back of energy and infrastructure projects under CPEC.

Some stress in liquidity noticed in Q1-FY16 due to increased government borrowing from the scheduled banks steadily eased in Q2-FY16 owing to improved revenue collection and timely receipt of foreign flows.


DAILY TIMES
YEMI

 Republican Texas Senator Ted Cruz, locked in a tight race in Iowa with billionaire Donald Trump just two days before the state's crucial U.S. presidential nominating contest, urged a packed house of supporters to give him the first victory of the 2016 campaign.
Ten Republicans and three Democrats were campaigning in Iowa for their parties' nominations but much of the focus was on the fight between Cruz and Trump.
“This is your time,” Cruz told a crowd of about 1,000 at a hotel ballroom. "This is the time for the men and women of Iowa to make a decision. We are inches away.”
On Monday, Iowans will gather in homes, gymnasiums, libraries, taverns and even grain elevators for caucuses to select their favorite for the Democratic and Republican presidential nominations. When they are finished, the race will take on a new dynamic and several candidates are expected to drop out altogether.
Polls suggest that either Cruz, who is making a furious last-minute swing through as many counties and small towns as he can, or Trump, who was holding several large-scale rallies across Iowa this weekend, will prevail among the Republicans.
Trump used stagecraft and blasted Cruz to enliven a crowd in Dubuque as he barnstormed through eastern Iowa. At the airport, Trump's plane, with his name emblazoned on the side, did a fly-by near the hangar where he was to soon speak. The plane landed, and he emerged from his plane to speak to a crowd of about 400, small by Trump standards.
Trump urged people to caucus. "This is now crunch time," he said. "This is what it's all about."
While at his event in Ames, Cruz refrained from attacking Trump but the New York developer was not so circumspect. He continued to suggest that Cruz may not be legally qualified to be president because he was born in Canada.
"How the hell can you run for president?" Trump said. "Ted has a big problem."
On the Democratic side, Hillary Clinton, the former secretary of state, and Vermont Senator Bernie Sanders remain engaged in a fierce battle, both in Iowa and elsewhere.
The two, along with former Maryland Governor Martin O'Malley, agreed in principle to add four debates to their calendars, Clinton's campaign said. The first will be next week in New Hampshire, contingent on approval by the Democratic National Committee.
The Clinton campaign also called for a debate in Flint, Michigan, to highlight the city's water-contamination crisis.
CLINTON ON GUN CONTROL
Clinton made a stop as well in Ames, where she spoke to a crowd of more than 1,100 at Iowa State University. She was introduced by former U.S. Representative Gabby Giffords and her husband, former astronaut Mark Kelly. In 2011, Giffords was critically injured when she was shot during an assassination attempt near Tucson, Arizona. In her remarks, Clinton praised gun-control measures recently taken by President Barack Obama.
“None of it will stick if it’s not a voting issue, and as you go to caucus Monday night, please think about this,” Clinton said.
Sanders, speaking at a college in Waverly, stuck to his familiar theme of reducing economic inequality and praised his fund-raising.
"I am proud to tell you that we have received almost 3 million individual contributions, more than any other candidate in history," he said, while criticizing Clinton, without naming her, for relying more heavily on wealthier donors.
The New York Times editorial board Saturday weighed on the campaign, endorsing Clinton for the Democratic nomination and Republican John Kasich for the Republicans. The Times called Clinton one of the most "deeply qualified presidential candidates in modern history."
Kasich, the governor of Ohio who is trailing badly in national polls, was the only candidate in the crowded Republican field the board said it was able to stomach. "Gov. John Kasich of Ohio, though a distinct underdog, is the only plausible choice for Republicans tired of the extremism and inexperience on display in this race," the board wrote.
The moderate Kasich will not be a factor in Iowa, where social and religious conservatives hold sway at the caucuses. Those voters seem to have largely cohered around the fiery Cruz, whose stump speech carries a distinct anti-establishment tone. Conservative commentator Glenn Beck introduced Cruz at the Ames rally.
Cruz is trying to bounce back from what many observers considered to be a rocky performance in Thursday’s debate. With Trump boycotting the event over a disagreement with sponsor Fox News Channel, much of scrutiny fell on Cruz, who, among other things, tussled with moderators and sniped repeatedly at another rival, Florida Senator Marco Rubio.
Rubio also has much to gain from Monday’s caucuses. A finish in the top tier could give him needed momentum going into the next nominating contest, the New Hampshire primary on Feb. 10.
His campaign announced that it would air 30-minute town halls featuring Rubio in television markets all across the state over the weekend.


REUTERS
YEMI

LAHORE: Nishat Group Chairman and Pakistan's leading industrialist Mian Mohammad Mansha has served a legal notice in England through Carter Ruck (the UK's leading defamation law firm) against Pakistani media house ARY Network Ltd for false and defamatory allegations broadcast by the television network on-air.

As stated in the legal notice served on January 14 that the network's broadcasts contained numerous false and slanderous allegations, including those pertaining to the acquisition of the St James Hotel and Club Limited (the "Hotel") in the UK and the operations of DG Khan Cement's Kallar Kahar factory in Pakistan. The allegations have been flatly and categorically denied being devoid of any truth whatsoever.

The notice declares that it is completely false that Chairman Nishat Group has been involved in money laundering and/or other illegal activity in relation to the acquisition of the St James Hotel. As has been public ally disclosed, the hotel is 100% owned by M/s Sea Capital Limited, a company incorporated in the United Kingdom. That company is a wholly owned subsidiary of M/s Residentia Holdings PTE Limited which is a Singaporean entity. Residentia Holdings PTE Limited financed the acquisition of M/s Sea Capital Limited through a mixture of debt and equity.

The notice goes on to say that Nishat Group chairman does not own any interest in any of these entities. Three members of Chairman Nishat Group's family own the entire equity of M/s Residentia Holdings PTE Limited and have declared the same in their respective wealth statements. The acquisition of the Hotel was undertaken according to international regulations and was overseen by external auditors of repute. All relevant records have been duly filed with the concerned regulators.

The notice further states that it is completely false that Chairman Nishat Group operates the DG Khan Cement factory in KallarKahar, in callous disregard of serious harm being caused to the health and well-being of people living in the area of the factory and extensive pollution of the environment in the area of the factory. It is also completely falsethat Chairman Nishat Group has used illegal means to obtain the collusion of the Government and regional administrators to enable him to operate the factory as per allegations levelled by ARY Network Ltd. The legal notice further states that the DG Khan Cement factory located within KallarKahar was supplied by a world renowned supplier of cement plants and equipment and thatthe equipment complied with applicable World Bank Environment Standards in terms of gaseous, liquid and particulate emissions. Since commercial production commenced in March 2007, the factory has undergone regular inspection by Pakistan's National Environment Quality Standards (NEQS) and, on each occasion, has been found compliant with the set standards.

The factory team takes their duties and responsibilities to the local community and workers - over 50% of whom are from the local community - to include their environmental responsibilities very seriously. These include providing free drinking water (approximately 275,000 litres daily), medical services for those patients who live in the vicinity of the factory and free transport to and from the Factory's medical centre for elderly and female patients. The notice discloses that images of chimney smoke spewing from a factory were broadcast by the Network and incorrectly attributed to DG Khan Cement, whereas they were from another factory. Allegations that the DG Khan Cement factory emits smoke and pungent odour during its operations are wholly false. Contrary to the impression conveyed in ARY Network Ltd's programmes, poultry and household waste is not transported to the factory untreated and in open lorries. It is transported in covered lorries, mainly on the motorway, from the waste processing plant "Lahore Green". Alternate fuel usage at the factory accounts for approximately 20% of the fuel used. Indeed, far from profiting from the burning of this waste, the factory ran at a loss for approximately the last six months in relation to this aspect of its processes.

The notice further states that the allegations made by ARY Network Ltd. are gravely defamatory and are of a nature that will have caused serious harm and are likely to cause serious harm in the future. This is aggravated by the wholly gratuitous broadcasting of the national identity cards of the Chairman Nishat Group's family members, containing their photographs and unpixellated private personal information - a very serious security risk to their lives. This is yet further aggravated by ARY Network Ltd.'s conduct during the course of 2015, whereby the Network has undertaken a campaign against Chairman Nishat Group, broadcasting repeated false and damaging claims about him, which have escalated over recent months.


DAILY TIMES
YEMI

The oil market scored modest gains Friday, ending a turbulent January that drove prices sharply lower amid worries about the global crude oversupply.

Speculation that Russia and the Organization of the Petroleum Exporting Countries will meet to discuss oil output cuts to push up prices supported sentiment for a second day, analysts said.

US benchmark West Texas Intermediate for delivery in March rose 40 cents to $33.62 a barrel on the New York Mercantile Exchange, after advancing almost $3 over the three prior trading sessions.

In London, Brent North Sea for March finished at $34.74, adding 85 cents from Thursday's settlement and about $2.50 over the week.

The oil market managed a second straight week of advances after having sunk to 12-year lows early this month.

Despite those gains, WTI finished the month down about nine percent and Brent nearly seven percent. Mike Lynch of Strategic Energy and Economic Research said there was "no strong reason" for Friday's lift in prices. "The talk of Russia and OPEC maybe meeting and working out a production cut has made people think we've reached a bottom and it's time to buy back in the market," Lynch said.

According to Russian news agency reports Thursday, Energy Minister Alexander Novak said Moscow is ready to discuss "coordinating" with OPEC and mutual production cuts of up to five percent. The news though drew skepticism that such a meeting or agreement would take place. Novak said they had been approached by Venezuela about a potential meeting but that was the extent of it, while senior OPEC delegates were dismissive," said Matt Smith of ClipperData.

But Price Futures Group analyst Phil Flynn said the mere talk of a Russia-OPEC meeting was shifting sentiment higher. “OPEC summit talk is being denied a little bit,” Flynn said. But in the market there remains at least a ray of hope they could get together on a production cut. And that hope is just enough to give the market a boost.

Meanwhile the number of active oil drilling rigs in the United States fell by 12 this week to 498, compared with 1,223 a year ago. The plunge in the market also was reflected by Chevron. The second-largest US oil company reported Friday a $588 million loss in the fourth quarter, its first loss since 2002.


DAILY TIMES
YEMI

Swedish police say the large gang distributed leaflets inciting people to assault refugees.
Witnesses said the men physically attacked people they believed were foreigners. However, police have not confirmed these reports.
It comes amid heightened tension in Sweden over the migrant crisis.
Some 163,000 migrants applied for asylum in Sweden in 2015, the highest per capita number in Europe.
According to Aftonbladet newspaper, the men in Stockholm were distributing leaflets on Friday evening with the slogan "It's enough now!",
The material threatened to give "the North African street children who are roaming around" the "punishment they deserve."
The newspaper published a video showing the gang clashing with police at Stockholm's central station.

Knuckledusters

Stockholm police said in a statement (in Swedish) that the group was handing out leaflets with the intention to incite people to carry out crimes.
One man was arrested after punching an officer in the face. Several others were detained on public order offences and another was found with brass knuckledusters, police said. All had been released by the following morning.
 

 
  Police apparently clashed with masked men outside Stockholm central station


Spokeswoman Towe Haegg told Swedish radio police had not received any reports of violence against people from migrant backgrounds.
However, Aftonbladet interviewed one 16-year-old who said he had been hit in the face near Stockholm's central station. The newspaper also quoted another witness who said he had seen men beating up people who appeared to have a foreign background in the middle of the city's Sergelstorg square.
The men were wearing arm bands of various colours and have been reportedly linked to football hooligan gangs.
There were scuffles on Saturday between pro and anti-migrant demonstrators, during which witnesses say foreigners were assaulted.
Tensions have increased after a 22-year-old employee was stabbed to death at a centre for young asylum seekers earlier this week. A 15-year-old asylum seeker was arrested in Molndal, near Gothenburg, over the murder.
Along with Germany, Sweden is a prime destination for refugees and other migrants entering the EU illegally.
More than one million refugees and migrants travelled to Europe last year, most fleeing conflicts in Syria, Iraq and Afghanistan.
The numbers arriving in Sweden have fallen significantly since it imposed tighter border controls this year.
On Thursday, Interior Minister Anders Ygeman said the country would prepare to deport up to 80,000 migrants whose asylum applications were rejected.


BBC
YEMI

Thousands of people marched in the Paris rain on Saturday to denounce plans to renew France's state of emergency and revoke the French citizenship of dual nationals convicted of terrorism.
Human rights groups, politicians and unions joined the march in the French capital and in other demonstrations around France. The protests came just days before the Cabinet plans to review a measure on Wednesday to prolong the state of emergency, first imposed after the Nov. 13 Paris attacks that killed 130 people.
The state of emergency gives more power to police and administrative authorities, allowing for searches without warrants, house arrests and other measures.
"My France of liberties, where are you?" read one banner.
The parliament is expected to approve the prolongation of the exceptional measures in voting later this month. The current state of emergency expires Feb. 26.
Jean-Baptiste Eyrault, of the Right to Housing movement, said: "Democracy is moving backwards ... at the expense of judges and the rule of law, freedom to demonstrate and [freedom] of expression."
Last week, a French high court upheld the measure, saying the danger "has not disappeared."
Opponents of another plan to revoke citizenship for dual nationals convicted of terrorism claim the move would feed racism, creating a two-tier system of citizens. Many dual nationals are Muslims, and some feel they are blamed for attacks such as those on Nov. 13.
Green party lawmaker Noel Mamere, taking part in the march, said the state of emergency lays the foundations for "a society under surveillance."
Christiane Taubira resigned suddenly last week as France's justice minister over her opposition to the plan, and as it became evident her views were on a collision course with those of President Francois Hollande.



ALJAZEERA
YEMI

The foreign ministry said a Russian jet flew into its airspace on the border with Syria on Friday. Moscow described the claim as "baseless propaganda".
Tensions between the two countries have been high since November, when Turkey shot down a Russian jet.
Russia has been carrying out air strikes in Syria since September.
It has been targeting forces fighting the government of Syrian President Bashar al-Assad, its ally.

'Irresponsible steps'

In a statement, the Turkish foreign ministry said a Russian SU-34 jet crossed into Turkish airspace at 11:46 local time on Friday, ignoring several warnings made in Russian and English.
It said the ministry had summoned the Russian ambassador in Ankara to "strongly protest at and condemn" the incident.
Turkish President Recep Tayyip Erdogan warned on Saturday that Russia would "have to face consequences if it keeps up such violations".
"Such irresponsible steps do not benefit either the Russian Federation, or Russia-Nato relations, or regional and global peace," he told reporters.
He said he had asked repeatedly for a meeting with his Russian counterpart, Vladimir Putin, without success.
Nato - of which Turkey is a member - on Saturday urged Russia "to act responsibility and to fully respect Nato airspace" and "take all necessary measures to ensure that such violations do not happen again".

Relations between Russia and Turkey, a vocal opponent of Mr Assad, plummeted after Turkish F-16s shot down a Russian SU-24 on 24 November.
Turkey said the plane intruded into its airspace and ignored repeated warnings to leave.
Russia insisted the jet had never crossed over from Syrian territory and did not receive any warnings.
The two leaders embarked on a war of words and Russia introduced a raft of sanctions designed to damage Turkey's economy.
Moscow's ban on the import of Turkish foods, the sale of charter holidays for Russians to Turkey and most construction projects with Turkish firms was expected to cost the Turkish economy at least $10bn.


BBC
YEMI

The New York Times's editorial board endorsed Democrat Hillary Clinton and Republican John Kasich as they seek to become their parties' nominees in the U.S. presidential election, calling Clinton one of the most "deeply qualified presidential candidates in modern history."
Clinton, a front-runner facing a strong challenge from Senator Bernie Sanders, and Kasich, who has only dimly registered in the polls, received the endorsements from one of the nation's largest newspapers two days before voters in Iowa hold the first nominating contest for the Nov. 8 election.
"Mr Sanders does not have the breadth of experience or policy ideas that Mrs Clinton offers," the board wrote, after praising him for making important points about economic inequality and foreign policy.
The board praised Clinton's term as secretary of state from 2009 to 2013, and said she had shown a lifelong commitment to American workers, particularly women. The board criticized her as too quick to propose using military force abroad, but said she still would be a better military leader than her Republican rivals.
The Times editorial board previously endorsed Clinton in 2008, when she ran against Barack Obama. In that endorsement, it also argued that Clinton had more experience and had presented more detailed policy ideas than her rival.
Kasich, the governor of Ohio, was the only candidate in the crowded Republican field the board said it was able to stomach.
"Gov. John Kasich of Ohio, though a distinct underdog, is the only plausible choice for Republicans tired of the extremism and inexperience on display in this race," the board wrote.
It said Kasich had "been capable of compromise and believes in the ability of government to improve lives."
The board said that front-runner Donald Trump did not have experience of international issues or interest in learning about them. It said Ted Cruz would "say anything to win."


REUTERS
YEMI

ISLAMABAD - Federal Minister for Finance and Economic Affairs Senator Ishaq Dar as the Economic Coordination Committee (ECC) chairman on Saturday accorded anticipatory approval to amend 0.6 per cent Withholding Tax (WHT) rate on banking transactions to 0.3 per cent in respect of non-filers till February 29, 2016.

The Income Tax Amendment Act 2016 empowers the federal government to amend the rate of 0.6 per cent on the recommendation of the ECC. Dar also gave approval for extending the date for filing of tax returns by Individuals and Associations of Persons till 29th February.

In addition the last date for filing of tax returns by traders under the Income Tax (second amendment)/Act, 2016, the last date has also been specified as 29th February 2016.




DAILY TIMES
YEMI