India Train Attack: Woman Killed as Bomb Goes off Under Seat in Chennai, 9 Injured

Volunteers lie on the ground during a mock bomb blast drill at a railway station in the southern Indian city of Hyderabad in this file photo.Reuters

Twin bomb blasts inside a train in the southern Indian city of Chennai have killed at least one person and injured nine.

The low-intensity explosions took place in two carriages as an express train travelling from Bangalore in the south to Guwahati in the north-east arrived at the Chennai station on Thursday morning.

"A young lady, aged 22, has lost her life. There were two separate blasts in the train. The entire police force is involved in the investigation," senior railway official Rakesh Mishra told reporters.

Two of the injured are in critical condition, local reports have said.

The woman, travelling from Bangalore to Vijayawada, was killed instantly when a bomb went off under her seat, local authorities said.

Mallikarjun Kharge, India's railway minister, said these were minor intensity blasts and experts from Delhi are being sent to investigate the attack.

Indian authorities had tightened security measures across the country with the month-long elections to the lower house of parliament taking place.

No one has claimed responsibility for the attack, but news channel NDTV reported a man hiding in one of the compartments has been taken into custody and is being questioned.

Edward Snowden: Is NSA Leaker a Chinese Spy?

Snowden’s ties with China have been called into question by security expert casting doubts on his legitimacy as a 'hero'.Reuters

A senior security expert has claimed that Edward Snowden was not an authentic whistleblower, while speculating on the former NSA contract worker's links with China.

Mikko Hypponen, chief research officer at the security firm F-Secure, believes that there are three main points of contention surrounding Snowden's status as a "bonafide leaker".

"There are still unanswered questions about the true story of Snowden," Hypponen told IBTimes UK. "There's small details that bother me, none of them by themselves really prove anything but considering them together means I'm not ready to just label Snowden as a hero for civil liberties."

As well as Snowden's ability to speak Chinese, Hypponen claims that the timing of Snowden's leaks are an area that has not been fully explored.

Leaked documents first came to light through Snowden on 6 June, 2013, only one day before US President Barack Obama was due to meet Chinese President XI Jinping to discuss Chinese web surveillance and cyber intrusion.

The timing of the leaks meant that such discussions were derailed as the focus fell on Obama and the practices of his National Security Agency.

The fact that Snowden met with journalists before he found employment at Booz Allen Hamilton - the firm through which he gained access to the surveillance information - has caused Hypponen to state that Snowden is "not a real whistleblower".

"For me that is unethical, it's not whistleblowing," Hypponen said.

Snowden defiant of 'predictable smear'

Snowden has previously denied any claims that he was acting on behalf of another state in leaking the documents.

In an online Q&A session held by the Guardian shortly after the leaks emerged last June, Snowden responded to such claims by saying they were a diversion tactic distracting from the real issues of mass surveillance.

"If I were a Chinese spy, why wouldn't I have flown directly into Beijing? I could be living in a palace petting a phoenix by now," Snowden said.

"(It is) a predictable smear intended to distract from the issue of U.S. government misconduct."

Hypponen stands by the idea that Snowden did a service in leaking the information, but claims that the true motives are not yet understood.

"He did us a service, we should thank him for what he did for us but the reasons why he did it are still unclear," Hypponen said. "I wish for him to be a hero, I hope that he is, but we don't really know that."

Egypt: Massive Oil Debts Soar as Economy Slumps

International Monetary Fund (IMF) Managing Director Christine Lagarde (2nd L) checks some pyramid stones next to security guards at Giza, Egypt(Reuters)

Egypt's spiralling debt to foreign oil companies operating in the country hit $5.7bn at the end of March.

State oil company chief Tarek El Molla told Reuters that debts to foreign oil firms had soared $800m since the previous government figure, despite a number of payments in recent months.

"Arrears to foreign oil firms in Egypt reached $5.7bn by the end of March," the chairman of the Egyptian General Petroleum Corp said.

The amount owed to oil majors including BP and BG Group stood at $4.9bn at the end of 2013, suggesting that Cairo is struggling in its bid to boost investor confidence by paying down its debts.

The Egyptian economy has been hammered by three years of political turmoil and violence since former president Hosni Mubarak was ousted in a 2011 uprising.

The country's first democratically-elected president Mohamed Morsi belonged to the Muslim Brotherhood and struggled to attract international financial backers to Egypt. He was subsequently deposed in a popular military coup and Egypt has since relied on massive aid packages from friendly Gulf states to function. This trying period has been marked by widespread violence and economic stagnation throughout the country.

Cairo paid back $1.5bn of its debts to foreign oil companies at the end of last year as its interim government tried to woo foreign investors to the country's slumbering energy sector.

Egypt is facing energy shortages this summer and the government has warned that blackouts are an inevitability in towns and cities. Blackouts have already affected neighbourhoods throughout the country this month and the electricity ministry is expecting a 7000 Megawatt shortfall this summer.

Energy prices are among the lowest in the world as consumers benefit from a hefty state subsidy that accounts for around 20% of the government's annual budget.

Speaking last week, Egypt's Oil Minister Sherif Ismail said the government hoped the government would pay an additional $1bn to the major oil firms within two months, having said in February that the government hoped to arrange around $3.5bn worth of payments over the next two years.

Afghan and Western Forces Kill Scores of Insurgents on Pakistan Border

An Afghan National Army (ANA) soldier takes part in a training exercise at the Kabul Military Training Centre (KMTC) in Kabul.Reuters

Western-backed Afghan troops have killed approximately 60 militants near the Pakistan border in an assault on the Taliban-linked Haqqani network, Afghanistan's intelligence agency has said.

Nato air forces provided support for the attack in south-eastern Afghanistan, in close proximity to Pakistan's Waziristan region, where a poorly patrolled border allows for the unchallenged transfer of militants. Nato has declined to comment on the operation.

During the strike five Afghan National Army soldiers were killed, six wounded and one taken prisoner.

The attack comes as the United States seeks to leave its mark on the terror cell before its forces depart the region next year.

Afghanistan interior ministry spokesman Sediq Sediqqi said that Afghan forces were warned of imminent insurgent attacks, allowing them to prepare for an ambush on the militants.

"Hundreds of insurgents tried to take over the district centre but we were there and hit them with a huge blow," Sediqqi said.

"Dead bodies, wounded fighters, their weapons and pickup trucks were left on the battlefield."

The Haqqani network answers to Taliban leader Mullah Mohammed Omar and has been blamed for a number of deadly attacks in the Afghan war.

The group have been held responsible for hotel attacks on foreigners in the Afghan capital of Kabul and assaults on both the Indian and the US embassy.

The US designated the group as a terrorist organisation in 2012 and believes that Pakistan's spy agency supports it.

The US military operation in Afghanistan is set to end on 31 December but some forces are set to remain in a training capacity.

Both of Afghanistan President Hamid Karzai's likely replacements in this month's presidential elections have pledged to honour the security agreement.

In Pictures: South Korea-Controlled Border Islands, Nearer North Korea

The Northern Limit Line is a disputed maritime border between North and South Korea. It extends from the west coast of Korea where it curves northward, effectively isolating five remote South Korean-controlled islands.

A painting is seen around the site where a shell landed during the 2010 North Korean attack on the island of Yeonpyeong. In 2010 North Korea fired multiple shells onto the island killing four people, including two civilians.Reuters

Baengnyeong, which is closer to Pyongyang than Seoul, is a heavily militarised island whose residents live in constant fear of possible clashes between two armies.

Another island, Yeonpyeong, was shelled by North Korean rockets and artillery in November 2010 when South Korean marines were conducting artillery drills on the island.

In subsequent years, the South Korean government has increased its military presence on the islands. Cliff tops are adorned with cruise missiles capable of striking Pyongyang, and the beaches are lined with barbed wire, soldiers, and mines.

The line was drawn up at the end of the 1950-53 Korean War and North Korea does not recognise it. The two sides are still technically at war as the conflict ended in a mere truce, not a treaty.

Children play in front of a tank on the island of Baengnyeong.Reuters

A sign warning of mines hangs on razor wire on the island of Baengnyeong.Reuters

A map showing the location of the island of Baengnyeong.Google

A South Korean soldier looks out to sea from a watchtower on Yeonpyeong island, which lies just inside the South Korean side of the Northern Limit Line.Getty

'Defectors telephone' is written on a phone on a wall at a heavily fortified beach on the island of Baengnyeong.Reuters

South Korean soldiers walk past a barbed wire fortification on a beach on the island of Baengnyeong.Reuters

A dummy of a soldier is seen behind a fence on a beach facing North Korea on Yeonpyeong island.Reuters

A soldier walks toward a model plane, which one marine said was used by the South Korean army for target practice, on a beach on Yeonpyeong island.Reuters

South Korean marines sleep on the ferry travelling to the mainland from the island of Yeonpyeong.Reuters

South Korean military personnel gather on the beach on the island of Yeonpyeong, which lies on the South Korean side of the Northern Limit Line, a disputed maritime border that wraps itself round a part of the North's coastline.Reuters

A man points towards a monument for the 46 deceased navy sailors of the sunken ship Cheonan on the island of Baengnyeong. South Korean naval corvette Cheonan, which was believed to be torpedoed by North Korea, killing 46 sailors, sank on 26 March 2010, off the south Baengnyeong Island, near the disputed sea border with the north.Reuters

Kim Ho-soon, a 66-year-old fisherwoman, adjusts her mask as she prepares to dive off the island of Baengnyeong. "North Korea doesn't bother us...[South Korean] military, China and reporters are ones that bother us," said Kim.Reuters

Drying fish hang from hooks in a small fishing port on the island of Baengnyeong.Reuters

In March this year, an unmanned drone crashed onto Baengnyeong Island. The drone measured about seven feet in length and was equipped with a small camera. Aerial photos of several South Korean cities and the presidential palace were discovered on the camera.

A South Korean military inquiry suggested that the unmanned aircraft was flown by North Korea to conduct reconnaissance missions.

The wreckage of a crashed drone is seen on Baengnyeong Island on 31 March 2014.South Korean Defence Ministry via Getty Images

An aerial image of Jichuk station, just northwest of Seoul, found on a drone's camera.South Korean Defence Ministry via Getty Images

An aerial image of the South Korean city of Goyang, taken by a camera on an unmanned drone that crashed onto a disputed border island.South Korean Defence Ministry via Getty Images

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World's Top 5 Startups Based on Valuation

Airbnb

There are more than 30 start-up companies in the world with valuations at billions of dollars by venture capitalists, according to research firm Statista.

They are newly-created and are in a phase of development and research for markets.

Generally, they are valued by venture capitalists, which provide funding for their further growth.

When it comes to the most valuable startups across the globe, Airbnb, Xiaomi and Dropbox are at the very top of the list, each worth around $10bn (£5.9bn, €7.2bn), according to Statista.

The top 5 startups by valuations are given below.

1. Airbnb

Founded in August 2008, Airbnb is the operator of a website for people to list, discover, and book unique accommodations around the world. The California-based company closed on an investment of $450m by TPG Capital in April, and is currently valued at $10bn.

2. Xiaomi

The privately-owned Chinese electronics company is based in Beijing, China. The company recently came into limelight with its low-priced Android mobile phones. It also makes mobile apps and other consumer devices. The company's founder and CEO is Lei Jun, China's 23rd richest man according to Forbes. Steadily expanding to countries such as India and Malaysia, the company has a total equity funding of $347m and is valued at $10bn.

3. Dropbox

The online-storage provider is also valued at $10bn. Earlier in January, the company secured funding of about $250m, making its CEO and co-founder Drew Houston a billionaire. The latest round of investment in the California-based company was led by a fund owned by asset manager BlackRock Inc.

4. Palantir

Palantir Technologies is an American computer software and services company founded in 2004. The firm offers a suite of software applications for integrating, visualising and analysing the world's information, according to its website. It is valued at $9bn in November 2012 with total equity funding of $594m.

5. Jingdong

Beijing Jingdong Trading Co is a Chinese online retailer backed by Saudi Prince Alwaleed bin Talal. The company was founded by CEO Richard Liu in 2004. It is valued at $7.3bn with equity funding of $2.2bn. It is reportedly planning to raise $2bn through an initial public offering in the second half of 2014.

Most valuable startupsStatista

China Growth Could Drop to 7% in 2014, Warns Government Think Tank

A file photograph of Dark clouds covering the financial district of Shanghai.Reuters

China's economic growth could drop to 7% this year, lower than the official 7.5% target, according to a top government think tank.

The Chinese Academy of Social Sciences (CASS) has revised its 2014 GDP growth forecast down to 7.4% and has warned growth could slow to as low as 7%, state media reported on 30 April.

Beijing-based CASS believes China's economic growth will continue to be powered by investment.

The think tank also warned that surplus production capacity and heavy local government debt burdens will slow fixed asset investment.

The downward revision came ahead of the release of official purchasing managers' index (PMI) data for the month of April, due on 1 May.

Societe Generale Cross Asset Research said in a note to clients: "...We expect China's growth to continue weakening amid slowing credit growth. However, the recovery of the developed economies, especially the US, should be able to largely offset the drag from our bumpy landing scenario for China."

Standard Chartered said in a note to clients: "China will release the official manufacturing PMI for April on 1 May. We expect weak growth in manufacturing activity to have continued, with a reading of 50.2. While seasonal factors and targeted stimulus should provide support, producers' caution on restocking and government efforts to cut overcapacity are likely weighing on demand."

"China's leaders have introduced some pro-growth measures, including boosting investment in social housing and railways, cutting taxes for small companies, and reducing the reserve ratio for rural commercial banks.

"We expect them to closely monitor the effects of the current loosening while pushing ahead with further targeted measures in line with the reform agenda. A neutral stance on market liquidity could also help to stabilise growth," the British firm added.

Provinces Miss Targets

Almost all Chinese provinces missed their yearly growth targets in the first quarter, as Beijing ordered them to focus on curbing pollution and reigning in debt.

Economic growth in 30 of China's 31 provinces and municipalities missed their yearly targets, according to government data and media reports published this week.

China Slowdown

About a fifth of China's economy is shrinking while the remainder is growing moderately, an independent economist, Andy Xie, has said.

Xie, speaking to CNBC Asia earlier in the month, said China's economy was probably not growing at the 7.5% rate that Beijing targets this year. However, he did not provide any forecast.

Xie added that Beijing's recent stimulus measures were possibly aimed at bolstering sentiment.

A strong services sector will not prevent China's economy from slowing by the middle of the year, analysts said on 3 April, a day after Beijing rolled out modest stimulus measures designed to support growth and the reforms drive.

On 2 April, the Chinese government said it would expedite construction of rail projects and cut taxes for small companies, the first real action this year to boost activity.

China's economy expanded 7.4% in the January-March first quarter. The economy grew 7.7% in the fourth quarter of 2013, down from 7.8% in the preceding quarter.

Full-year growth for 2013 was 7.7%, steady from the previous year.

Toddlergate: Beijing Paper Slams Hong Kong 'Mock Poo Protesters' as Neo-Nazis

Chinese mainland tourists and their daughter argue with passersby in Hong Kong after the child urinated in the streetYouTube

A minor row over anti-social behaviour has blown up into a war of words between Hong Kong and China.

China's state-run Global Times said that protests by Honkongers mocking the "rude" behaviour of visitors from the mainland to the former British colony were organised by "contemptible wretches" akin to neo-Nazis and skinheads.

The row was triggered by a mainland toddler relieving herself on a Hong Kong street.

To highlight the issue of allegedly ill-mannered mainlanders, 30 Hongkongers staged a demonstration in which they squatted over plastic, yellow fake poos to mock the toilet etiquette of the two-year-old girl who weed in the street.

At the time of the incident, the parents of the little girl were mobbed by indignant passersby and a scuffle erupted. Some claimed that the two-year-old had actually defecated in the kerb.

The Global Times accused the protesters of challenging the stability of the Chinese state.

"This handful of radicals in Hongkong remind us of the rampant skinheads and neo-Nazis in Europe," the paper wrote in an editorial.

"These Hong Kong skinheads shamed Hong Kong civilization, which has to take a much longer time and more efforts to eliminate the ill effects."

The only aim of the protest was to humiliate Chinese mainlanders, the editorial claimed.

"We need to fight back and overwhelm any forces that try to harm the integrity of the nation," the editorial read.

"But we also have to remember that a small group of saboteurs can never represent the whole of society."

Footage of the original incident, which has become known as "Toddlergate", went viral online.

Hongkongers have long complained about mainland tourists' supposed bad manners. The latter have hit back saying Hongkongers were snobbish and arrogant.

Hong Kong returned to Chinese rule in 1997 as a Special Administrative Region with its own laws and a distinct culture from the mainland.

Indian Man Sets Himself on Fire During TV Election Debate

Bystanders attempt to douse the blaze as politician Kamruzzama Fauji and a man named by police as Durgesh Kumar Singhb are engulfed in flame(Getty)

An Indian politician has been left severely burned after he was grabbed by a man who set himself on fire during a TV election debate.

Kamruzzama Fauji was taking part in the debate broadcast on India's national TV channel Doordarshan in Sultanpur, around 100 miles from the state capital of Lucknow, when a member of the audience doused himself with petrol and set himself alight.

The man, named by police as Durgesh Kumar Singh, could then be seen embracing Fauji, leader of the Bahujan Samaj Party, while engulfed in flames.

Singh is reported to have suffered burns on 95% of his body and is not expected to survive. Fauji is currently is a critical condition in hospital having suffered 75% burns to his body.

The man has been left with 95% burns on his body following the incident(Getty)

It is not clear what motives Singh had for setting himself on fire.

Two other politicians who were taking part in the debate also sustained minor injuries trying to put out the flames.

Local photographer Pankaj Kumar managed to capture the incident. He told the AFP news agency: "This man suddenly came on the stage, poured petrol on himself and set himself on fire before tightly hugging one of the political guests.

"People were just too shocked to know what was happening."

A spokesperson for the state-owned Doordarshan channel said they were "shocked and saddened" by what happened.

Police confirmed they are investigating the incident.

The TV debate was part of nightly discussions which are taking place across various channels during the Indian elections, the largest democratic vote in the world.

The results are expected to be announced on 16 May.

The election show was being recorded on India's state-owned national TV channel Doordarshan(Getty)

GlaxoSmithKline Neglects to Unveil China Bribery Scandal Financial Impact

GlaxoSmithKline Neglects to Unveil China Bribery Scandal Financial ImpactReuters

GlaxoSmithKline shares fell to the downside during the midday trading session after Britain's biggest drug maker unveiled its first quarter results for 2014.

The GSK stock price fell by 1.3% to 1643.40p after the group posted a 10% drop in first quarter sales.

China sales were hit following the China's Ministry of Public Security accusing unnamed GSK executives of routing 3bn yuan ($488m, £307m, €365m) in bribes to doctors through 700 travel agencies and consultancies over six years.

In connection with the allegations, Chinese authorities took several GSK executives into custody and claimed a number admitted to criminal charges of bribery and tax law violations.

GSK also admitted some Chinese executives appeared to have broken the law, but CEO Andrew Witty said the head office had no prior knowledge about the wrongdoing.

However, in GSK's statement today, it failed to calculate how the bribery scandal and investigation will financially impact the group in the future.

GSK said: "The People's Republic of China (PRC), acting through various government agencies, continues its investigation into alleged crimes and violations of law by GSK's China operations.

"The Group takes these allegations seriously and is continuing to cooperate fully with the Chinese authorities in this investigation. The Group has informed the US Department of Justice, the US Securities and Exchange Commission and the UK Serious Fraud Office (SFO) regarding the investigation and is co-operating fully with these agencies.

"It is not possible at this time to make a reliable estimate of the financial effect, if any, that could result from these matters."

Meanwhile, GSK's Witty highlighted the recent multi-billion pound deal with Novartis to combine their consumer healthcare units, as helping the drug maker to tackle increasing competition in healthcare.

Novartis will acquire GSK's cancer drugs business for £9.5bn and sell its vaccines division, excluding the flu unit, to GSK for £4.2bn.

Meanwhile, Novartis agreed to sell its animal health division to Lilly, part of Eli Lilly & Company, for nearly £3.2bn.

It will create a £6.5bn-a-year consumer health business.

Heritage Oil Soars 22% on £924m Takeover Offer From Qatari Fund

Sheikh Hamad Bin Jassim Bin Jabr Al-ThaniReuters

Shares in UK oil company Heritage Oil soared more than 22% after it announced a takeover offer from a Qatari fund.

Energy Investments Global, a wholly-owned subsidiary of Qatar's Al Mirqab Capital SPC, agreed to acquire Heritage Oil for £924m ($1.6bn, €1.1bn) or 320 pence per share, representing a 25% premium to the closing price on 29 April.

Following the news, Heritage Oil shares are trading up 22.46% as at 11:04 am GMT.

"The Independent Committee of Heritage's Board believes that the Offer represents an attractive and certain value for Heritage Shareholders, having considered the risks, rewards and timescales associated with the realisation of value from Heritage's portfolio of assets," Michael Hibberd, chairman of Heritage's board, said.

"The Independent Committee therefore intends to recommend the Offer to Heritage Shareholders."

Heritage's largest shareholder, Anthony Buckingham, who owns 34% of the company, will retain a 20% stake in the company for five years, under an agreement with Al Mirqab.

Al Mirqab is owned by Qatar's Sheikh Hamad Bin Jassim Bin Jabor Al Thani and his family. Sheikh Hamad, who was the former CEO of the Qatar Investment Authority, had led the sovereign wealth fund in its growth as one of the most sought-after investors in the world.

"The acquisition of Heritage provides Al Mirqab with access to a high growth, producing asset base in Nigeria and a diverse international exploration portfolio," the company said.

Al Mirqab will fund the acquisition from its cash resources.

Heritage is primarily operating in Nigeria, where its oil output is steadily growing. It also has projects in Tanzania and Papua New Guinea.

For the year ended 31 December 2013, the company reported a net loss of £383.5m, compared with a profit of £260m in the previous year, primarily due to losses on asset sales. Yearly revenues increased to £431.9m from £8.8m.

India Elections: Fate of Political Heavyweights to be Sealed in Seventh Phase

A tribal woman leaves after casting her vote at a polling centre during the seventh phase of India's general election, in Rangareddy district in the southern Indian state of Andhra PradeshReuters

The fate of political heavyweights such as Narendra Modi, who is tipped to be the next prime minister and Sonia Gandhi, leader of the Indian National Congress (INC), is to be sealed in the seventh phase of India's ongoing parliamentary elections.

Voting is taking place in 89 seats across seven states and two union territories in one of the key battles in the nine-phase month-long democratic process.

In this round of polling, as many as 138 million people are eligible to cast their ballots and about 1,300 contestants are participating.

Both the incumbent INC and the main opposition Bharatiya Janata Party (BJP) have high stakes in this round.

The presidents of both the parties – Gandhi for INC and Rajnath Singh for BJP – are contesting in today's (30 April) polling. Other top guns include BJP's senior leader LK Advani, the former chief minister of India-administered Kashmir Farooq Abdullah and BJP's key strategist Arun Jaitley.

Modi cast his vote in the Gandhi Nagar constituency of Gujarat state, where he has been chief minister for more than a decade.

After he cast his vote, Modi said: "The BJP will form a stable government in Delhi soon. The Congress party has already conceded defeat... It is the end of the mother-son government," referring to Sonia Gandhi and her son Rahul, who is leading the campaign for the INC.

The first six phases saw polling in 349 of the 543 constituencies. The eighth stage of polling is on 7 May and the ninth and last phase of the gargantuan exercise is scheduled for 12 May, with the results expected to be announced on 16 May.

In total, there are 815 million people eligible to vote and the general election has been billed as the largest-ever democratic exercise in global history.

Venezuela's Former Spy Overlord Eliécer Otaiza Shot Dead in Caracas

President Nicolas Maduro mourned Otaiza as “hero” of the revolution that brought the late Venezuelan leader Hugo Chavez to power with the 2002 coup.Reuters

The former director of Venezuela's top spy agency has been found shot dead in a suburb of capital Caracas under "suspicious" circumstances, according to police.

President Nicolas Maduro mourned Eliécer Otaiza as a "hero" of the revolution that brought the late Venezuelan leader Hugo Chavez to power in 2002.

He also said that he recently promoted Otaiza, who served as director of the country's Intelligence and Prevention Service, to the rank of general in the army.

"Unfortunately, he was found dead: I have ordered a full investigation into the strange circumstance in which the councillor appeared to have been murdered," he told reporters.

Venezuela's minister for the interior Miguel Rodriguez Torres revealed that Otaiza's body was found in Baruta, a suburb on the outskirts of Caracas, with four gunshot wounds, inside a bullet-ridden vehicle. He also said that it took nearly two days to be identified due to the lack of identification documents on the body.

At the time of his death, Otaiza was president of the Libertador Bolivarian Municipality in Caracas, which accounts for over two million residents.

Otaiza had been a staunch supporter of Chavez even in the early 1990s, when he was still in the opposition. He led an elite unit of the personal guard corps of the populist president and was later appointed director of Venezuela's top intelligence agency.

Hot Shots Photos of the Day: Hippo Dentistry, Jungle Space Debris, Pharrell Shaving Cut

A man brushes the teeth of a hippopotamus at a wild life reserve park in Guangzhou, Guangdong province, ChinaReuters

A white Bengal female tiger plays with her three cubs at the Huachipa zoo in Lima, Peru...AFP

...One of the white Bengal cubs looks into the camera at Huachipa zoo in LimaReuters

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Police and local residents work to lift a piece of an Ariane space rocket belonging to the European Space Agency, after it was discovered by a fisherman in the Urindeua river near Salinopolis, northeast Brazil. Manoel Alves found the object in the river which is part of the Amazon river basinReuters

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Pharrell Williams arrives at the Time 100 gala in New York, celebrating the magazine's naming of the 100 most influential people in the world for the past yearReuters

UK Independence Party leader Nigel Farage enjoys a pint with Paul Alvis, the landlord of Volunteer Rifleman's Arms, as he visits Bath to meet with party members, candidates and supportersGetty

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Ultra-nationalist activists march towards Independence Square to commemorate "Maidan heroes" in KievAFP

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A man holds a club outside the regional government headquarters in Luhansk, eastern UkraineReuters

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China's WH Group Scraps Hong Kong IPO on Weak Investor Demand

Some of the products of WH Group are displayed in front of maps of China (L) and the United States at a news conference on the company's IPO in Hong Kong.Reuters

China's WH Group, the world's biggest pork producer, decided to scrap its planned Hong Kong initial public offering due to lacklustre investor demand for the company's stock.

"In light of deteriorating market conditions and recent excessive market volatility, the company, having consulted the joint sponsors, has decided that the global offering will not proceed at this time," WH Group said in a statement.

The company added that it will return investors' money.

It originally hoped to raise as much as $5.3bn (£3.2bn, €3.8bn) from the Hong Kong listing, but it reduced the size by more than half last week due to weak demand.

Bloomberg, citing people familiar with the matter, reported that senior executives at the company resisted selling shares at the low end of the IPO price range.

As part of the IPO, WH Group's CEO Wan Long, who is known as China's "Chief Butcher," and Yang Zhijun, an executive director in charge of investment, merger and acquisitions and financing, were given nearly $600m (£359m, €434m) worth of shares, according to a stock exchange filing.

The Chinese pork giant, previously known as Shuanghui International, acquired US-based Smithfield Foods in September in a $4.9bn deal, one of the biggest Chinese acquisitions of a US company in recent times. Smithfield holds the Farmland, Armour, Cook's and Healthy Ones brands.

The company hired 29 underwriters for its IPO, a record in Hong Kong, but they failed to convince investors.

WH Group's failure underscores the volatility of Hong Kong's IPO market, one of the biggest in the world. The growing number of underwriters in IPOs is seen risky by some analysts, as individual banks are likely to devote less time and resources to marketing an offering in such situations.

"With the crazy number of banks working on the IPO, people were worried to tell the truth to the company and just said what the client wanted to hear," a source told the New York Times.

Hong Kong's IPO market has been helped by high-profile Chinese companies. However, e-commerce giant Alibaba is opting file for a US IPO, after Hong Kong regulators did not agree to the company's proposed corporate governance structure.