Hamas Rejects Egypt-Initiated Ceasefire as Israeli Cabinet Set to Discuss Truce

An illumination flare above the northern Gaza Strip is seen at the border with GazaReuters

The armed wing of Hamas has rejected any ceasefire option in the ongoing Israel-Gaza conflict even as the Israeli cabinet is set to discuss truce.

Vowing to "intensify" the fighting, the militant group insisted they will not lay down their arms as long as Israeli forces are occupying Palestinian territories.

"No official or unofficial side has approached us about the ceasefire talked about in the media... [But] if the contents of this proposal are true, it is a surrender and we reject it outright," according to a statement from the Ezzedine al-Qassam Brigades.

The organisation said it "opposes the Egyptian proposal, which constitutes a surrender and isn't worth a thing. Our battle with the enemy will escalate and we will be true to the blood of the martyrs".

The ceasefire proposal was put forth following a series of high-level talks in Cairo in which all sides participated.

Although the armed wing opposed the truce, the political arm of the group, which controls Gaza, confirmed they are discussing various options in a bid to resolve the crisis.

Ismail Haniyeh, the deputy chief of the Hamas political bureau, said in televised statement aired by al-Aqsa channel: "Yes there are contacts and there are countries intervening. Our people were avoiding the war but the Zionist enemy began it, he announced it, he prepared for it, he started to kill the women, children and families, destroy homes. Entire families were eliminated."

"Every drop of blood is dear to us. My heart and all the people are standing beside these families, but this bloodshed pushes us towards being more committed to our rights and to stopping this aggression, to end this situation in Gaza and West Bank."

The Egyptian initiative has been welcomed by the US which expressed the hope that "this will lead to the restoration of calm as soon as possible".

Meanwhile, the Israeli cabinet led by Prime Minister Benjamin Netanyahu is set to discuss the situation. The premier is expected to convince right-wing cabinet members of the need to scale down the attacks on the Gaza Strip.

In the week-long confrontation, at least 178 Palestinians have been killed and more than 1,000 injured. So far there have been no casualties on the Israeli side.

Vulture Fund Warns Argentina of Fresh Default and Seeks Immediate Talks

Argentina's Economy Ministry's Legal and Technical Secretary Federico Thea arrives at the office of a court-appointed mediator for a meeting on Argentina's dispute with holdout investors.Reuters

Holdout creditor Aurelius Capital Management has asked the Argentine government to engage in serious negotiations to avoid a fresh debt default, as its grace period runs out on 30 July.

On 11 July, representatives of the holdout creditors and the Argentine government met separately with a court-appointed mediator to discuss a settlement. However, the parties could not reach an agreement despite five hours of talks.

"If there is no agreement, the next sovereign debt crisis for Argentina will begin on July 30. There is still time to avoid that result, but only if the Argentine government starts serious negotiations with us immediately," Aurelius said in a statement.

"The Argentine officials refuse to meet with us or even to negotiate with us indirectly. Unfortunately, this focus plays with the means and future of the Argentine people."

The so-called "vulture fund" also criticised a fresh request by Argentina, asking US district judge Thomas Griesa to stay his order that would allow the country to pay bondholders and meet the 30 July deadline.

"On Friday, the Argentine Economic Ministry emitted a further declaration asking for the pari passu order to be suspended. This is strange, because the District Court rejected that suspension last month," Aurelius added.

Argentina has been engaged in a long legal battle with hedge funds led by Elliott Management and Aurelius Capital, which refused to take part in the country's debt restructuring. About 92% of the country's creditors agreed to swap debts and accept less money.

In a major blow to the government, Griesa earlier gave a ruling that bars Argentina from paying the holders of its restructured debt unless it pays the hedge funds.

Following the adverse order from Griesa, Argentina claimed that if the country paid the suitors on their terms, it would lead to claims from other holdouts of around $15bn (£8.8bn, €11bn) in debt.

The government's coupon payment to restructured bondholders through a New York bank had earlier been blocked by Griesa. As a result, the country is facing a technical default by the end of July if it does not make a settlement with the "vulture funds".

Despite the bitter spat with them, Argentina will have to settle with the holdout funds as it has few alternatives to avert a default, which would damage its reputation further in the international capital market.

France Launches New Sahel Counter-Terrorism Operation Barkhane

French soldiers part of Operation Serval are seen north of Gao, Mali.Reuters

France has announced the deployment of some 3,000 soldiers in northern Africa as part of a new military operation to fight Islamist militants in the region.

The French government said its military effort in Mali, known as Operation Serval, was to be replaced by a new, wider counter-terrorism operation codenamed Barkhane.

"The president wanted a reorganisation of our troops in the area," Defence Minister Jean-Yves Le Drian said.

Le Drian said Operation Serval, launched last year to counter an offensive by al-Qaeda liked groups in northern Mali that arrived as far as threatening the capital Bamako, had been successful.

However, the minister said that jihadist cells operating across the borders of different northern African countries still represent a threat and thus a new effort was needed to neutralise them.

Operation Barkhane will be based in the Chadian capital Ndjamena, its activity will span across several countries in the Sahel, a largely desert area rich in natural resources such as minerals and gas.

"Now there is a concern for us and for the countries in the area to make sure there is no upsurges [in terrorism], Le Drian said. "There still is a major risk that jihadists develop in the area that runs from the Horn of Africa to Guinea-Bissau."

Paris is to deploy 3,000 troops backed by six fighter jets, 20 helicopters and three drones in northern Mali, Niger and in Chad.

The armed forces of the three African countries, as well as those of Mauritania and Burkina Faso, are also to take part in the operation that will be launched in the coming days.

"The aim is to prevent what I call the highway of all forms of traffics to become a place of permanent passage, where jihadist groups between Libya and the Atlantic Ocean can rebuild themselves, which would lead to serious consequences for our security," Le Drian said.

Syria: Isis Jihadists Expel Moderate Rebels From Oil City

Militant Islamist fighters ride horses as they take part in a military parade along the streets of Syria's northern Raqqa province(Reuters)

An ultra-violent Islamist group has expelled moderate rebels from Syria's eastern city of Deir Ezzor, according to a Syrian opposition-aligned watchdog.

Militants from the Islamic State have strengthened their hold on the eastern oil-rich province of Deir Ezzor, which borders Iraqi territory they also control.

While Deir Ezzor remains peripheral to the Syrian conflict, its oil resources make it a valuable prize for rebel groups that have competed for control over the past year.

The Islamic State, formerly known as Isis (Islamic State of Iraq and the Levant,) recently captured Syria's largest oilfield, al-Omar. The group now controls all of Syria's major oilfields and the rebel-held half of Deir Ezzor.

The Islamic State, which recently declared the establishment of an Islamic caliphate spanning Syria and Iraq, has proliferated in eastern Syria at the expense of other rebel groups including the al-Qaeda linked Jabhat al-Nusra.

The hardliners expelled dozens of rebels from Deir Ezzor city, according to the rebel-aligned Syrian Observatory for Human Rights.

"The Islamic State is now in control of the entire Deir al-Zor province apart from a few areas and the military airport that the government is in control of," Observatory director Rami Abdurrahman said.

The majority of rebels either fled or pledged allegiance to the militants, while government forces are still in control of around half of the city.

Since the hardliners declared the establishment of an Islamic caliphate, some moderate rebels aligned with the Free Syrian Army have fled northern Syria to areas close to the Jordanian and Lebanese borders.

The influx of weapons from Iraq, where the extremists captured government arms, has empowered the militants, a spokesman for the rebels told AFP news agency.

"Isis has no shortage of weapons, ammunition or fighters, and the battle became totally asymmetrical, especially after its advance on Mosul and its capture of heavy weapons," rebel spokesman Omar Abu Leyla said, as quoted by AFP.

This article was updated July 14, 2014 16:52 PM

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Shanghai Set for Brics Development Bank

Unease amongst BRIC members over Shangai headquartersReuters

Shanghai looks likely to be the destination for the Brics' new development bank, and some members are concerned China may use the bank for its own domestic interests.

Brazil, Russia, India China and South Africa are set to unveil the new bank on Tuesday, alongside a new emergency reserves fund.

The group of emerging nations first proposed the bank in 2012 in order to finance infrastructure projects, but disagreements over funding and location have delayed the launch.

Russia's presidential adviser Yuri Ushakov told Russian journalists that Shanghai was the most likely location for the bank's headquarters, but earlier whispers form Kremlin suggested that New Delhi could emerge as a rival to China's financial centre.

"The bank's headquarters will be located in Shanghai. This is fixed in the documents," Ushakov said, as quoted by Reuters news agency.

Meanwhile, an Indian government 0fficial appeared to underplay the importance of the headquarters' location, saying India's goal was to ensure members had equal voting rights at the institution.

"Equitable shareholding is the principal goal for India," the official said, also quoted by Reuters.

India's prime minister Narendra Modi has supported calling the institution the "New Development Bank," as India remains keen to keep the bank open to new states outside of the founder members.

Capitalising the bank has been an issue for the partners, but it looks likely that the Brics will split the initial $50bn costs equally. An initial $10bn cash total will be backed by $40bn in guarantees.

The bank will seek to attract other developing economies by offering an alternative to the International Monetary Fund and the World Bank.

New President, Same Problems - Egypt's Tourists Stay Away

Camel guides wait for customers at the Pyramids Plateau in Giza Pyramids, on the outskirts of Cairo(Reuters)

Egypt's wounded tourism industry took another hit in May as the number of visitors declined 20% compared to the same month a year earlier.

Data released by the country's official statistics body, the Central Agency for Public Mobilisation Services (CAPMAS) showed 768,000 holiday-makers visited the country during the month, down from 969,000 in 2013.

Tourists Wary of Instability

Three years of political, social and economic turmoil has taken its toll on Egypt's tourism industry, which remains a key source of foreign exchange reserves for Cairo.

Three Korean tourists were killed when a bomb exploded on a tour bus in the eastern Sinai region in February 2014. An Islamist militant group claimed responsibility for the deadly attack, declaring an "economic war" against the government.

The overall number of visitors in the first five months of the year has fallen by 26% compared to the same period in 2013.

In 2010, the year before Egypt's revolution, 10 million tourists visited the country, accounting for 14% of the country's gross domestic product.

Security

The country's new President Abdel Fattah al-Sisi, a former head of the armed forces, was elected amid hopes that he would turn around the country's deteriorating security and economy.

Yet, violence and political unrest continues to plague parts of the country. Seven civilians and a soldier were killed in a mortar attack in northern Sinai on Monday, the Associated Press reported.

Gulf Tourists Boost

However, in a sign of the growing ties between post-coup Egypt and the countries in the Persian Gulf, visitor numbers from Saudi Arabia, the United Arab Emirates and Kuwait increased.

The number of visitors from the UAE soared by 35% over the first five months of the year, while Kuwaiti visitors jumped by 11%. The number of Saudi Arabians visiting in the same period increased by 6%.

Seven Hezbollah Fighters Killed in Islamist Clash on Syria-Lebanon Border

Lebanese Hezbollah supporters gesture as they march during a religious procession to mark Ashura in Beirut's suburbs.Reuters

Seven fighters from the Lebanese group Hezbollah were killed in a clash with Sunni Islamist militants on the Syria-Lebanon border, according to a monitoring group.

The Syrian Observatory for Human Rights, affiliated to the Syrian opposition, said that the clash in the mountainous border area between Ras al-Maara in Syria and Arsal in northeast Lebanon had also seen 16 rebels killed and 31 Hezbollah fighters wounded.

A Lebanese security official and a Hezbollah source said that at least two fighters and 27 Sunni rebels were killed in the clash. Hezballah did not comment on the alleged deaths of its fighters.

The Observatory said that Hezbollah had captured 14 fighters from different Islamist group including the Nusra Front, the faction who represent al-Qaeda in the civil war.

"It appears Hezbollah launched the attack in a bid to finish off the pockets of rebel resistance," Observatory head Rami Abdel-Rahman said.

Hezbollah is an Iranian-supported Shi'ite Islamist group who have helped Syrian President Bashar al-Assad in the neighbouring four-year Syrian civil war.

The area surrounding Arsal in northeast Lebanon is largely Sunni with locals sympathising with the Sunni uprising against Assad's regime.

Last month, Lebanese Army forces carried out raids in the region to capture militants with ties to "terrorist groups", according to an army statement.

Malaysia Airlines MH370 Pilot 'Loved Flying So Much That He Would Attach Wings to Himself and Fly if He Could'

Zaharie Ahmad ShahReuters

The sister of the missing Malaysia Airlines flight MH370's pilot has defended her brother saying he would not be the reason for the plane's mysterious disappearance.

Breaking her silence for the first time since the airliner vanished four months back, Sakinab Ahmad Shah has said her brother Captain Zaharie Ahmad Shah was truly fond of flying.

In her interview with the Channel NewsAsia, she said: "He was just a man who took so much to aviation. He loved aviation, he spent a lot of his funds buying model airplanes. If he could, I think he would attach wings to himself and fly -- he loved flying that much."

The pilot has been at the centre of the investigation following the flight's disappearance with allegations ranging from hijack to suicide having popped up.

The Boeing 777 passenger aircraft with 239 people onboard was travelling from Kuala Lumpur to Beijing on 8 March when it suddenly lost contact while cruising above the southern Indian Ocean.

Speaking about the speculation that the pilot could have attempted to hijack the jetliner, the captain's sister said: "If it was done, if he was the one who planned it, he has to be some kind of Einstein, which he was not. We couldn't figure out why somebody who would want to commit suicide would prolong the agony of flying for four, five, six hours just to land down there."

China Riled by West Hitting the Brics

Claims made by certain politicians in the West that the five Brics economies - Brazil, Russia, India, China and South Africa - are fragile and fading are totally "unfounded" and are a serious "mis-judgment of world economic development", China's Xinhua news agency has stated.

"Because of their crucial structural adjustment and changes in the international financial situation, especially the US tapering of quantitative easing measures, some BRICS countries have registered slowing economic growth and faced difficulties in their growth," stated an opinion piece in state-run Xinhua.

"However, it would be short-sighted for West politicians to draw a conclusion that the Brics miracle is over."

The news agency highlighted the fact that even with slowing growth, the Brics economies still expand twice as fast as developed countries.

It also criticised some Western politicians' "prejudiced opinion" about developing countries.

"Westerners with a biased view tend to magnify small problems of developing countries," reported Xinhua, quoting Huang Wei, a researcher from the Chinese Academy of Social Sciences.

"For instance, they predicted a collapse of the Brics cooperative mechanism when they saw some minor differences in their first round cooperation."

"Actually, the Brics countries have tided over the most difficult waters and are now turning for the better," according to Fan Yongming, director of a Brics research center at Fudan University in Shanghai.

The five developing nations now represent 21% of global output and have contributed more than 50% of world economic growth in the past decade.

The countries have sufficient labour supply, abundant natural resources, and vast consumption potential, as the main pillars of growth, and they will remain the same in future, noted Fan.

In addition, the Brics have seen improving and cooperative mechanism, which will become a vital driving force for their economic development, he said.

The opinion piece coincides with a meeting of the leaders of the five Brics countries in Brazil for a two-day summit. During the summit, the countries are expected to approve a $50bn (£29bn, €36.7bn) development bank and a $100bn contingent reserve arrangement in order to gain greater voice in the international financial system.

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Iraqi Kurd Delegation in Turkey Seeks Controversial Deal Over Oil Revenues

The SCF Altai tanker unloaded a shipment of Kuridsh oil at Israel's Ashkelon port in JuneReuters

Ministers from the Kurdistan Regional Government (KRG) have arrived in Turkey where they are hoping to reach a deal over oil exports.

The Kurdish delegation is hoping to secure agreements for future oil sales and reach a deal over the transfer of revenues for oil already exported and sold via Turkey.

The move is likely to further strain ties with Baghdad.

Turkey has deposited $93m (£54m, €68m) in a bank account at the state-owned Halkbank, for oil exported from the Kurdish autonomous region via the Turkish port of Ceyhan.

"The purpose behind the visit regards a bank account for Kurdish oil revenue, which has been sold through Turkey, and transferring the account into the Kurdistan Region," said Rebar Muhammad, the KRG's finance minister, as quoted by Rudaw news agency.

Turkey is unlikely to release the oil revenues without an agreement in place between Baghdad and Arbil over how such revenues would be divided. The KRG has previously indicated it would transfer 83% of revenues to central government, while keeping 17%, but this could change given the fresh animosity between the two sides.

Baghdad has said the Kurdish oil has been smuggled from the country and has warned potential buyers that they would face penalties for dealing directly with the Kurds.

Ties between central government and the autonomous region have plunged to new lows in recent weeks. The Iraqi government is struggling to contain an insurgency that is reaching ever closer to the capital Baghdad, while the KRG is moving to prepare a vote on independence.

The Kurdish minister withdrew from the national parliament in early July after Iraq's prime minister Nouri al-Maliki accused the autonomous region of harbouring terrorists.

On an economic level, Baghdad has refused to pay the KRG its share of the national budget and threatened to take legal action against buyers of Kurdish oil on international markets in a bid to halt the region exporting oil without its consent.

Both sides argue that the Iraqi constitution gives them the right to export oil independently.

Violence Erupts in Buenos Aires After Germany Beat Argentina 1-0 in World Cup Final

What was meant to be a celebration of Argentina's performance in the 2014 World Cup has turned violent. Police officers used tear gas and rubber bullets to disperse rock-throwing youths in Buenos Aires.

Police officers wearing riot gear detain a man in a cloud of tear gasAFP

Thousands of Argentina fans, saddened but proud, had gathered peacefully at the Obelisk to applaud their team's best World Cup performance in 24 years.

A group of youths hurled rocks, destroyed shop fronts, tore down street lights and broke into a theatre.

Police said 20 officers were injured while at least 60 people were arrested.

A tear gas canister detonates near the Obelisk in Buenos AiresAFP

Argentina fans clash with riot police at the Obelisk in Buenos AiresAFP

An overturned rubbish bin is set on fireAFP

Police officers detain a man after violence erupted in Buenos AiresAFP

Football fans in Argentina shirts are arrested after violence broke outAFP

Riot police officers on motorbikes patrol a street strewn with rocksAFP

A police officer stands guard next to people detained during riots after Argentina lost to GermanyReuters

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