Downing Street Rules out Britain's Participation in US Airstrikes in Iraq


Iraq and US airstrikes

Downing Street rules out Britain's participation in US airstrikes in IraqReuters



Downing Street has ruled out Britain's direct involvement in the US-authorised military action in Iraq against the Sunni insurgents of Islamic State.


A No 10 spokesperson announced even though the Cameron government supports Washington's decision politically, Britain will not be participating in the military intervention.


"We welcome the action taken by the United States overnight to provide vital supplies to those Iraqis in desperate need who are fleeing from Isis [Islamic State of Iraq and the Levant] terrorists. [But] we are not planning a military intervention," said the spokesperson.


The remarks follow US President Barack Obama's authorisation of US airstrikes in Iraq to stop the advancing militants as well as to prevent a "genocide".


The militants have captured key territories in northern Iraq as thousands of civilians continue to flee the fighting.


Meanwhile, Defence Secretary Michael Fallon is also poised to hold an emergency Cobra meeting in order to address the situation in Iraq.


The Downing Street spokesperson said: "It is essential that those trapped are now allowed to reach a place of safety where they can continue to be provided with food, water and life-saving assistance and it is appalling that Isis are preventing them from doing so. Isis have a poisonous record of destruction and murder of innocent people of all faiths, including their own."



Argentina Sues US at UN International Court of Justice Over Debt Default


Argentina filed a suit against the US at the International Court of Justice (ICJ), alleging that the US 2nd Circuit Court's ruling in favour of holdout creditors violates its sovereignty.


The Hague-based court is a United Nations body and can only hear the case if the US government agrees to accept its jurisdiction. Of the six principal organs of the United Nations, it is the only one not located in the US.


"The Argentine Republic contends that the United States of America has committed violations of Argentine sovereignty and immunities and other related violations as a result of judicial decisions adopted by US tribunals concerning the restructuring of the Argentine public debt," the ICJ said in a statement.


Argentina has been engaged in a long legal battle with hedge funds led by Elliott Management and Aurelius, 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, the US court earlier gave a ruling that bars Argentina from paying the holders of its restructured debt unless it pays the hedge funds. District judge Thomas Griesa has also blocked Argentina's coupon payment to restructured bondholders through Bank of New York Mellon.


The country's continuous attempt to reach a settlement with the so-called vulture funds failed, and it fell into its second default in 13 years.


Argentina earlier ordered Bank of New York Mellon – the intermediary between the country and bondholders – to make the payouts despite Griesa's order. However, the judge ordered the bank to hold on to the money.


Meanwhile, a number of international banks are looking to find investors to buy the disputed debt from holdout funds and resolve the lawsuit, Bloomberg reported.


The banks include Citigroup, JPMorgan Chase & Co, HSBC Holdings Plc and Deutsche Bank AG, who are the four biggest underwriters of Latin American bonds in international markets in 2014, according to data compiled by Bloomberg.



Gaza Strip Crisis: Israel Gears up for Fresh Hamas Attacks amid Uncertainty over Truce Extension


Israel-Gaza crisis

An Israeli soldier carries a tank shell in a staging area near the border with the Gaza StripReuters



Israel is gearing up for a fresh barrage of rockets from Hamas as uncertainty prevails over whether the Palestine-based group will agree to extension of the 72-hour ceasefire.


With reports suggesting that Hamas, the dominant force in the Gaza Strip, and the Islamic Jihad could reject a truce extension, the Israel Defense Forces (IDF) is said to be on alert.


The three-day ceasefire is nearing its end and the IDF has about 40,000 reservists ready to be redeployed in the Gaza Strip if fighting erupts again.


"It's important in the coming hours to be alert," senior Israeli military official Colonel Gili Shenhav said.


Reuters cited a Palestine source, who is part of the ongoing Egypt-brokered talks taking place in Cairo, as saying: "Negotiations are difficult. Negotiations have not yet reached a final result. A rejection of extending the truce is likely. That announcement will come from our brothers in Gaza."


While Hamas is yet to formally announce its decision, media reports from Lebanon suggest there is a possibility that the militant group would be willing to continue the ceasefire.


Just hours before the ceasefire ends, two rockets have been fired at Israel. Though the IDF has squarely put the blame on Hamas for the firing, the group has denied it.


"We have one position, we refuse to extend the ceasefire and it is a final decision. Israel did not propose anything," a Hamas leader told AFP.


The militant wing of Hamas had earlier urged its political arm not to extend the ceasefire.


"We urge the Palestinian delegation negotiating not to renew the truce except after the acceptance in principle, particularly to the port [opening], and if there is no acceptance then we ask the delegation to withdraw from talks," a masked fighter representing Izz a-Din al-Qassam Brigades said in a televised statement.



Indonesian Girl Lost in 2004 Tsunami Found Alive in Nearby District


2004 Indian Ocean tsunami

An overview shows Meulaboh city under water 28 December 2004(AFP)



A 14-year-old girl believed to have been killed in the 2004 Indian Ocean tsunami has been found alive after 10 years missing.


Raudhatul Jannah, from West Aceh, was four years old when the tsunami hit. She and her seven-year-old brother were swept away on 26 December, News Corp Australia reports.


The tsunami was triggered by a huge earthquake off Sumatra Island. It killed at least 230,000 people, with many more missing.


A month after the disaster, her parents stopped searching for the pair believing them to be dead.


2004 Indian Ocean tsunami

Screengrab from TV report of the tsunami in Banda Aceh.(AFP)



However, in June, Raudhatul's uncle spotted her and went to tell her mother, Jamaliah. They found she had been living with an elderly woman in the nearby Aceh Barat Daya district.


"This is a miracle from God," Jamaliah said. The family has now been reunited and plans to do DNA tests if anyone doubts Raudhatul is who they believe her to be. Jamaliah said she knew it was her daughter as soon as she saw her.


"My husband and I are very happy we have found her," she said.


Raudhatul and her brother were last seen clinging to a plank of wood. She told her parents they got stranded on Banyak Island and that she thinks it is likely he survived too.


"We will look for him on Banyak Island because we believe he is still alive," Jamaliah said.



Azerbaijan's President Ilham Aliyev Threatens War with Armenia in Twitter Rant


Azerbaijan's President Ilham Aliyev

Azerbaijan's President Ilham AliyevReuters



The president of Azerbaijan Ilham Aliyev has threatened to resume war against the Armenian "barbarians and vandals" over the disputed enclave of Nagorno-Karabakh through a long Twitter rant.


The worst clashes in years in the 4,400-metre squares of land located within Azerbaijan's current borders left at least 15 soldiers dead in recent days.


The two neighbouring countries fought a full-fledged war over the land after the collapse of the USSR in the early 1990s that caused at least 30,000 deaths over six years. A ceasefire brokered by Russia in 1994 put an end to hostilities but international attempts to revive the peace process have failed since then.


Nagorno-Karabakh has maintained de facto autonomy. Azerbaijan keeps claiming the land as its own, and considers it an occupied territory, stressing that the self-declared government lacks international recognition.


Employing his utmost belligerent rhetoric, Aliyev declared that "just as we have beaten the Armenians on the political and economic fronts, we are able to defeat them on the battlefield".




















Aliyev and his Armenian counterpart, president Serzh Sargsyan, are due to meet in the Russian Black Sea resort of Sochi to discuss a settlement.


Russia said on its website: "We see the events of recent days as a serious violation of agreements on a ceasefire and declared intentions to achieve a regulation through political means.


"We take the position that any further escalation is unacceptable."


The US expressed "concern" about the escalation of violence and remarked that the ceasefire "needs to be respected".



Global Food Prices Drop to Six-Month Low in July: FAO


Global Food Prices Drop to Six-Month Low in July

Global food prices drop to six-month low in July.Reuters



Sharp declines in the prices of grains, oilseeds and dairy pulled down global food prices, which dropped to a six-month low in July 2014, the United Nation's food agency has said.


The Food and Agriculture Organisation's (FAO) food price index, which measures monthly price changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 203.9 points in July, down 4.4 points or 2.1% from June 2014.


July's price index figure was 1.7% below July 2013, according to an FAO statement.


Commodity Indices


FAO Food Price Index

FAO Food Price Index.FAO



The FAO Cereal Price Index averaged 185.4 points in July, down 10.7 points or 5.5% from June and was down 36.9 points, or 16.6%, from a year ago.


The Vegetable Oil Price Index averaged 181.1 points in July, down 7.7 points or 4.1% from June. The decline continued to be primarily driven by falling soy and palm oil prices.


The Dairy Price Index averaged 226.1 points in July, down 10.3 points or 4.4% from June and was down 17.5 points, or 7.2%, from a year ago


The Sugar Price Index averaged 259.1 points in July, marginally up 1.1 points or 0.4% from June, and was up 20.2 points, or 8.4%, from a year ago.


However, continued strong demand for meat in Asia, particularly in China, supported the FAO Meat Price Index that averaged 204.8 points in July, 3.7 points or 1.8%, higher than its revised value in June. The index was 25.4 points, or 14.1%, higher from a year ago.


FAO Commodity Indices

Commodity Price Indices.FAO



An import ban imposed by Russia to prevent countries, which have sanctioned Moscow over Ukraine, from selling food there for a year will probably have a limited impact on global food prices, senior FAO economist Abdolreza Abbassian told Reuters.


Senior FAO economist Concepcion Calpe said in the statement: "The lingering decline of food prices since March reflects much better expectations over supplies in the current and forthcoming seasons, especially for cereals and oils, a situation that is expected to facilitate rebuilding of world stocks.


"Livestock product markets have their own dynamics: in the case of meat, beef in particular, many exporting countries are in a herd rebuilding phase, which is limiting availability for exports and sustaining prices," Calpe said.


"As for dairy products, supplies available for trade appear to be abundant, which, along with a faltering import demand, has weighted on July's quotations," she added.



Photographs Capture the Lives of Muslim Uighur Community in China's Xinjiang Region


Getty Images photographer Kevin Frayer has visited Xinjiang, an area of northwestern China home to the Muslim Uighur people.


The area has been beset for years by violence that the government blames on Islamist militants who it says want an independent state called East Turkestan.


Exiled Uighur groups and human rights activists say the government's repressive policies in Xinjiang, including controls on Islam, have provoked the unrest.



Chinese soldiers in riot gear secure the area outside the Id Kah Mosque, after Imam Jumwe Tahir was killed by assailants following early morning prayers

Chinese soldiers in riot gear secure the area outside the Id Kah Mosque, after Imam Jumwe Tahir was killed by assailants following early morning prayers(Kevin Frayer/Getty Images)



Uighur men drink tea at a restaurant in Old Kashgar

Uighur men drink tea at a restaurant in Old Kashgar(Kevin Frayer/Getty Images)



Children play in the rubble of tradtional houses demolished in recent years to make way for new homes

Children play in the rubble of tradtional houses demolished in recent years to make way for new homes(Kevin Frayer/Getty Images)



A man washes himself before prayers outside abandoned traditional houses set to be demolished to make way for new homes

A man washes himself before prayers outside abandoned traditional houses set to be demolished to make way for new homes(Kevin Frayer/Getty Images)



A billboard showing plans for the redevelopment of Kashgar is seen in an area where traditional homes have been demolished by local authorities

A billboard showing plans for the redevelopment of Kashgar is seen in an area where traditional homes have been demolished by local authorities(Kevin Frayer/Getty Images)




Officials told Muslims to eschew religious customs during the fasting month of Ramadan, which rights groups saw as a bid to repress Uighurs.


China punishes the study of Islam outside the confines of tightly controlled state mosques. As part of a crackdown on extremism, Xinjiang has offered rewards for tips on anyone offering independent study of the Koran. Students, officials and members of the officially atheist Communist Party are barred from mosques.



Uighur women laugh as they take care of their children at home before the Eid holiday in Old Kashgar

Uighur women laugh as they take care of their children at home before the Eid holiday in Old Kashgar(Kevin Frayer/Getty Images)



A Uighur family pray before lunch on the Eid holiday

A Uighur family pray before lunch on the Eid holiday(Kevin Frayer/Getty Images)



A halal butcher and his son wait for customers before the Eid holiday

A halal butcher and his son wait for customers before the Eid holiday(Kevin Frayer/Getty Images)



A little girl wears a new red dress on Eid in Kashgar

A little girl wears a new red dress on Eid in Kashgar(Kevin Frayer/Getty Images)



Uighur children play with balloons on the Eid holiday in an alleyway in Old Kashgar

Uighur children play with balloons on the Eid holiday in an alleyway in Old Kashgar(Kevin Frayer/Getty Images)



Children play in the street at night in Old Kashgar

Children play in the street at night in Old Kashgar(Kevin Frayer/Getty Images)




The city of Karamay has banned people with long beards, head scarves, veils and clothing with the crescent moon and star from boarding buses.


Last month, authorities in Xinjiang's capital Urumqi banned bus passengers from carrying items ranging from cigarette lighters to yogurt and water, in a bid to prevent violent attacks.



People wait at a bus stop in old Kashgar

People wait at a bus stop in old Kashgar(Kevin Frayer/Getty Images)



A Uighur man riding a scooter pulls his camel and horse along a road in Kashgar

A Uighur man riding a scooter pulls his camel and horse along a road in Kashgar(Kevin Frayer/Getty Images)




The crescent moon and star symbol of Islam features on many national flags, besides being used by groups China says want to set up the independent state.


While many Uighur women dress in much the same casual style as those elsewhere in China, some have begun to wear the full veil, a garment more common in Pakistan or Afghanistan than in Xinjiang.


Hundreds have died in unrest in Xinjiang in the past 18 months, but tight security makes it almost impossible for journalists to make independent assessments of the violence.


Kevin Frayer's photographs show the daily lives of people in this area strategically located on the borders of Central Asia, Afghanistan, Pakistan and India.



A Uighur couple are showered with confetti as they have the first dance at their wedding celebration

A Uighur couple are showered with confetti as they have the first dance at their wedding celebration(Kevin Frayer/Getty Images)



A bride talks with a friend at her wedding

A bride talks with a friend at her wedding(Kevin Frayer/Getty Images)



A woman fans the mother of the groom after she was overcome at her son's wedding celebration

A woman fans the mother of the groom after she was overcome at her son's wedding celebration(Kevin Frayer/Getty Images)



A groom is carried on the shoulders of a friend as he dances with others at his wedding celebration

A groom is carried on the shoulders of a friend as he dances with others at his wedding celebration(Kevin Frayer/Getty Images)






YOU MIGHT LIKE THISSponsored Content by Taboola



Kuwait Committed to Terrorism Fight After US Imposes Sanctions


Jabhat al Nusra

Islamist militant from Jabhat al Nusra in Syria(Reuters)



Kuwait has said it is dedicated to stopping terrorism after the United States sanctioned three Kuwaitis it accused of providing cash and arms to terrorist groups.


"Kuwait is committed to fighting terrorism and its funding," its ambassador to Washington said.


"Kuwait has passed legislation to fight terror and its financing and has established the executive tools to implement it," Sheikh Salem Abdullah al-Jaber Al-Sabah said, as quoted by KUNA news agency.


"The state of Kuwait continues to operate with the United States and the international community in combating this dangerous phenomenon," he added.


The US has imposed sanctions on three Kuwaitis who it has accused of fundraising for jihadi groups fighting in the Syrian conflict.


Shafi al-Ajmi, Hajjaj al-Ajmi were both sanctioned for their links to Jabhat la Nusra, while Abdulrahman al-Anizi was sanctioned for assisting the Islamic State (IS.)


The ultra-violent group, formerly known as Isis, controls a vast swathe of territory across Syria and Iraq. It has gained notoriety for its incredibly austere brand of Islam and its intolerance of alternative religious and ethnic groups.


The Ajmis are successful fundraisers in Kuwait, where they are well known for campaigns to provide relief for Syrians and Palestinians and their efforts have previously been endorsed by some of Kuwait's top clerics.


The men will have any assets they hold in the United States frozen, while American citizens are prohibited from doing business with the individuals.



Erdogan Vows to Stay Economic Course if He Wins Presidency


Recap Tayyip Erdogan

Turkey's Prime Minister and presidential candidate Tayyip Erdogan greets his supporters.(Reuters)



Turkey's Prime Minister Recap Tayyip Erdogan has said Turkey would continue to its economic course if he were to win the upcoming presidential election.


Erdogan is the hot favourite to assume the country's presidency in Sunday's vote, that will see Turkey elect its president for the first time in its history.


During a speech in the capital Ankara, Erdogan sold his pro-business credentials to voters ahead of the nationwide vote.


He criticised the central bank's interest rate policy, saying that lower rates were needed to encourage investment in the country.


Turkey's central bank unexpectedly delivered a massive hike in interest rates in January 2014 in a bid to prop up the lira.


Despite public opposition from leading political figures, including Erdogan, the bank has maintained relatively high interest rates as the economy battles higher-than-expected inflation.


Erdogan's Turkey


Until 2014, Turkey's president had always been selected by the country's parliament. The switch to election at the ballot box is likely to transform the nature of the office, meaning Erdogan would have a weightier role in foreign and economic policy.


Turkey's Prime Minister since 2003, Erdogan's success in expanding the national economy is a key plank of his continued popularity.


His party's policies have also focused heavily on social welfare, another plank to his popularity.


However, Erdogan's period at the head of the country was marked by an abundant flow of cheap and easy finance for emerging markets across the globe. Critics say he has failed to drive through reforms during a time of relative abundance that could cost Turkey in the long run.



Israel Can Absorb Cost of Gaza Offensive Without Raising Taxes


gaza rubble

Palestinians sit amid the ruins of destroyed homes in the Shejaia neighbourhood of Gaza City(Reuters)



The economic cost of Israel's Gaza offensive will not lead to higher taxes, Israel's finance minister has said.


"We can absorb the cost of the operation in the 2014 budget," Yair Lapid told journalists. "Taxes will not be raised."


The overall economic cost of the nearly month-long Gaza assault is yet to be confirmed but authorities have said the cost could amount to more than $4bn (£2.4bn, €3bn.)


The IDF military operation alone is estimated to have cost $2.3bn, while the country's projected gross domestic product growth is predicted to fall by 0.5%, which would mean a further loss of around $1.3bn.


Meanwhile, property damage could amount to $14.6m and a tax revenue drop of $438m is expected, according to the Israeli newspaper, Israel Hayom.


The Tourism Ministry has not published its expected losses as a result of the Gaza campaign but it is expected to announce sharp decline in revenues.


The campaign, which was launched during the peak holiday season, led to a swathe of cancelled bookings. Moreover, the US temporarily banned flights to Israel's main airport for 48 hours in late July, after a rocket landed in its vicinity.


The economic cost for Gaza is predicted to be much higher. Early estimates put the cost of rebuilding the Palestinian territory at $6bn.


Thousands of homes, businesses and public buildings have been damaged and destroyed while the country's energy infrastructure has been decimated.


At least 1,800 Palestinians were killed during the month-long offensive, the vast majority of whom were civilians.



Hot Shots Photos of the Day: Fire Cloud, Toxic Spill, Butter Kevin Costner


ECB graffiti

ECB Frankfurt Graffiti: Angela Merkel 'Money Kills Morals' Art on...


sweden forest fire

One Man Killed as Firefighters Tackle Sweden's Biggest Forest...


china earthquake

China Earthquake Photos: Woman's 'Miracle' Rescue, Injured...


kim jong un lube

Hot Shots Photos of the Day: Political Punch Up, Croc Shark...


hiroshima

Hiroshima Atomic Bomb Anniversary: Photos of the Devastated City


gaza ceasefire

Israel-Gaza Ceasefire Photos: Palestinians Return to Their...


first world war lights

Hot Shots Photos of the Day: WWI Royals, Lights Over London,...


Mermaid 1

Spain Opens Its First Mermaid Academy To Help People Improve...


prince william kate middleton

WWI Centenary: Royals Attend Memorial Services in Belgium and...


china earthquake

China Earthquake: Rescue Workers Dig Survivors out of Debris in...




Qingdao Port Fraud Probe: Chinese Police Investigate 'Unnatural' Death of Top Customs Official Bian Peiquan


Qingdao Port China

China's Qingdao Port, which is the subject of a fraud investigation by the authorities(Reuters)



Chinese police are investigating the death of an official at Qingdao port, which is at the centre of a major fraud probe.


According to a report in China's state-run news agency Xinhua, Qingdao Customs Deputy Commissioner Bian Peiquan died of "unnatural causes" on 5 August. It is not yet known if the death is connected with the on-going fraud investigation.


Qingdao, one of China's largest ports, is under investigation by the authorities over allegations that commodity traders used duplications of warehouse receipts to borrow multiple times on the back of a single cargo of iron ore.


Since coming to power as president of China in 2013, Xi Jinping has sought to root out corruption within the Chinese mega-bureaucracy, state-owned companies and their private counterparts.


This is to improve the integrity of China's economy, the second biggest in the world and soon to overtake the US in the top spot, and attract more foreign investment.


Since the clampdown there has been a spate of suicides by top Chinese officials.



My South African Adventure: Keeping Warm, Early Christmas and Family Stickers


Christmas comes early in Joburg

Christmas comes early in Joburg



Although it's not an entirely obvious statement, one of the key benefits of coming back for a visit to the UK from South Africa in July is simply to get warm.


While such a declaration may seem counter-intuitive, it happens to be high summer in the northern hemisphere and high winter in the southern, with temperatures in Johannesburg in particular often plummeting to below zero at night.


It's also decidedly chilly in both the mornings, until the sun gets itself going and the place warms up to a really quite pleasant 17-21 degrees C – although since I've been back, the birds do seem to be a bit more active and chirpy, which gives me at least a bit of hope.


Because so comparatively cold and miserable is the winter season here that South Africans have now started adopting the Australian habit of holding 'Christmas in July' festivities, presumably to cheer themselves up.


In Joburg, these celebrations seem to manifest themselves primarily as Yuletide markets or late night shopping activities, where people wander around the streets of neighbourhoods such as ours in Parkhurst, wearing Santa hats, drinking the free gluehwein and taking advantage of multifarious 'special offers' in the various stores and restaurants.


But the vital issue here is not so much the actual real-world temperature of the place. It's more the lack of the centrally-heated, double-glazed and generally well-insulated abodes that most of us are blessed with in the UK.


In contrast, the average middle class South African home, with its whitewashed walls, tile floors and utterly inadequate heating systems, is completely geared to keeping you cool for the bulk of the year.


So when the cold weather hits, as it does for an apparently endless three months during each annual orbit of the earth around the sun, you really do feel it. It's actually warmer to sit outside with a blanket around your legs like an old dear than it is to brave the frozen internal wastes of your dwelling place. Shocking.


Keeping warm


In fact, in keeping with half the population of Jozi, I'd warrant, most nights I can be found tucked up in bed by 8.30pm, thawing myself out courtesy of my much-loved electric blanket and expanding my literary horizons with a good book.


Lions in Winter - August in Johannesburg

Lions in Winter: August in Johannesburg



Because, not to whinge, but there's rarely much on TV here worth watching - in my view anyway. There are the melodramatic South African soap operas, relentless US reality TV and comedy re-runs and interminable UK cooking programmes, all with swear words and random blasphemy beeped out even before the 9pm watershed.


Needless to say, I am now completely addicted to 7de Laan, Brides of Beverley Hills and Come Dine With Me. But give me a good, old BBC drama or travel programme any day.


Definitely something to look forward to when we make it back home, although things have been made a bit easier in this regard by the recent discovery of Tunnel Bear.


This particular little downloadable treasure is a perfectly legal virtual private network that makes it appear as if your laptop, iPad or whatever is based wherever you wish it to be in the world so that you can access local TV. A real find.


Anyway, another thing that I particularly noticed during my recent trip back home was just how beautifully lush, green and verdant the UK is at this time of year.


While the foliage-bedecked affluent northern suburbs of Jozi may be pleasant and leafy at other times, in the dry winter season everywhere just looks brown, parched and barren, with too few leaves left on the trees even to soften the harshness of the ubiquitous 10-feet-high security walls and electric fences.


A product of the deep insecurity felt in white suburbs during the tense Struggle years of the 1980s, I can't say that I missed the slight feeling of imprisonment or the lack of sociability that they tend to generate.


Keeping cheerful


Instead, I found it refreshing to walk freely along the open streets of home, whether in town or country, rather than simply sail past everywhere in the cocooning safety of my car.


I also relished being able to indulge my nosiness by peering into people's gardens over hedges and low stone walls without sparking a security incident.


And seeing the hanging baskets chock full of colourful blooms that seemed to be everywhere this year. It's not something that you come across so much over here, but it really does brighten the place up.


Another thing that I thought was a great idea when visiting my parents in the North East of England though was the now commonplace corporate sponsorship of roundabout upkeep – or circles, as they're known in South Africa.


It's a proposition that appears to be a win-win for everybody –councils don't have to fork out for maintenance to keep them looking decent, companies get themselves a sign for a nice bit of publicity, and the Great British public benefits from a beautifully-designed and well-kept traffic island without having to pay a penny.


Keeping on the topic of roads, meanwhile, a slightly strange South African trend that I have yet to spot in the UK is to attach so-called 'Family Stickers' to the back windscreen of cars.


For some reason that is utterly opaque to me, people affix to their windows cartoonish figures of themselves, their partner, any male and/or female children, pets and the like that they've acquired over the years, seemingly to advertise their kinship groupings to the world. Not being rude, but as if the world cared.


Still, maybe for the perpetrators it's just one more way of generating a few warm, fuzzy feelings in a perfectly reasonable bid to stay cheerful on yet another of those cold Jozi nights.



Students Stabbed to Death in Borneo: Four Men Admit Killing the Newcastle University Pair


Dalton brunger malaysia

Neil Dalton (left) and Aidan Brunger have been stabbed to death in Borneo during a university work placementFacebook



Four men arrested over the killing of two Newcastle University medical students in Borneo have admitted the crime, a local police chief has said.


The four men stabbed Neil Dalton and Aidan Brunger to death following a row in bar that began after the British students were being too noisy, it is reported.


Dalton and Brunger were working on the Malaysian part of the island during a six-week placement alongside five other students from their university, in a hospital in Kuching.


The other students are receiving counselling from staff at the hospital over the tragedy and a member of staff from Newcastle University is said to be flying out to the region "as soon as possible" to co-ordinate their return to the UK.


Dalton and Brunger, both 22, were followed in a car and then attacked by local men as they made their way back from a night out at a bar in the city of Kuching, in the early hours of the morning. They were reportedly found with stab wounds to the chest and back at 4.15am local time on Tuesday.


The attack happened in the Jalan Padungan area of Kuching in Sarawak state, in the west of the Malaysia part of Borneo.


Professor Tony Stevenson, acting vice chancellor of Newcastle University, said: "We are all very shocked and extremely saddened by their deaths and our thoughts are with their families and friends at this very difficult time."


Deputy police commissioner Chai Khin Chung said they had now finished their investigation, as the men confessed, and they would now be passing on their evidence for prosecution.


"We have finished our investigation, the crime has been solved," he said.


"The suspects have been apprehended and they have admitted the crime. We have recovered the weapons from the crime.


"We are waiting for the corpses in the hospital mortuary to have the post-mortem carried out. We have all the major evidence in our hands which we will send to the prosecution."



Travel Agent Priceline to Invest $500m in China's Ctrip


Travel Agent Priceline to Invest $500m in China's Ctrip

Travel agent Priceline to invest $500m in China's Ctrip.Getty Images



Priceline Group, the largest online travel agent in the US, has agreed to invest $500m in China's biggest online travel firm Ctrip, a move that has boosted the latter's shares.


Priceline, the owner of travel websites Booking.com and Agoda, has bagged rights to purchase Ctrip shares over the next 12 months and increase its holding to up to 10%, according to a Priceline statement.


The Nasdaq-listed firms have also agreed to expand an agreement, struck in 2012, to cross-promote their hotel room inventory. Priceline has a global portfolio of over 500,000 accommodations outside of the Greater China region, according to the statement, while Ctrip has over 100,000 accommodation options in the region.


Ctrip's stock surged 12.49% in after-hours trading, on 6 August, in New York. Priceline's stock added 0.50%.


Darren Huston, President & CEO of The Priceline Group said in the statement: "Ctrip is the clear leader in online travel in China and we are pleased with the growth in Ctrip bookings through Booking.com and Agoda over the last two years. We are eager to build upon what has already become a great partnership, and thrilled to be able to offer our customers even more hotel options in China.


"...through this partnership, we have an opportunity to further help the world experience China, and China experience the world."


Chinese Tourists


Priceline's move comes against the backdrop of a rising demand for travel to and from China. The world's most populous nation now accounts for nearly one in 10 tourists globally.


Priceline also stands to benefit from rising Internet bookings in China -- over half of all Chinese travellers make hotel reservations through the Web or through mobile applications, up from 45% in 2013, according to the latest Hotels.com Chinese International Travel Monitor (CITM) survey.


The number of Chinese tourists travelling abroad in the first three months of 2014 stood at 26.4 million, a 17% increase against the same period in 2013, data from the Tourism Administration of China showed.


Some 97 million Chinese people travelled abroad in 2013, up from 83 million the previous year, Hotels.com data showed.



India's Central Bank Chief Warns of 'Another Crash' in Global Financial Markets


Raghuram Rajan, the Reserve Bank of India (RBI) governor

Raghuram Rajan, the Reserve Bank of India (RBI) governor.Reuters



Raghuram Rajan, chief of India's central bank, has warned that global financial markets are at risk of a crash, as economies are trying to escape crises at each other's expense.


In an interview with the Central Banking Journal, Reserve Bank of India (RBI) governor Rajan, who is known for his prediction of the 2008 financial crisis, said a number of macroeconomists have not fully learned the lessons of the Great Recession in 1930s.


He noted that the lack of coordination between policymakers – as in the 1930s – is causing spillovers that may be difficult to control.


"They still do not pay enough attention - en passant - to the financial sector. Financial sector crises are not as predictable. The risks build up until, wham, it hits you," Rajan said.


"At the moment you see favourable unemployment and low levels of inflation, and think you have a lot of policy room for manoeuvre. The concern is that central banks may be exhausting room on the financial side and creating a situation where there will be a discontinuous movement in the financial sector."


"Some of our macroeconomists are not recognising the overall build-up of risks. We are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost."


Rajan added that a sudden shift in asset prices could happen in a variety of ways. Investors may get into trouble as they chase higher yields at a time when they believe central bank policies will protect them against a fall in prices.


"They put the trades on even though they know what will happen as everyone attempts to exit positions at the same time - there will be major market volatility," Rajan said.


"True, it may not happen if we can find a way to unwind everything steadily. But it is a big hope and prayer."


He pointed out the over valuation of the euro as a clear symptom of the major imbalances in the global financial market.


"The exchange rate is too strong given the euro area's economic standing," said Rajan.


"In a world where demand is weak and not strongly influenced by monetary policy, the effect of monetary policy may be more 'demand shifting' that is operating through the exchange rate, rather than 'demand creation' that is operating through credit growth and credit flows domestically. So we are back to the 1930s, in a world of competitive easing."



Bank of New York Mellon Ordered to Hold Argentina's Bond Fund by US Judge


Attorney Carmine Boccuzzi, lead lawyer representing Argentina in its ongoing debt talks, arrives at federal court for a hearing in New York August 1

Attorney Carmine Boccuzzi, lead lawyer representing Argentina in its ongoing debt talks, arrives at federal court for a hearing in New York August 1Reuters



US District Judge Thomas Griesa ordered Bank of New York Mellon to hold on to money deposited by Argentina after the country formally demanded the intermediary bank to pay the amount to its restructured bondholders.


Argentina had deposited $539m (£320m, €403m) with the New York bank to pay its creditors, despite Griesa's earlier order to block the country's payments to restructured bondholders unless it pays to holdout creditors in full.


The country has been engaged in a long legal battle with hedge funds led by Elliott Management and Aurelius, 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. He has also blocked Argentina's coupon payment to restructured bondholders through Bank of New York Mellon.


As a result, the country could not make its payments to bondholders due on 30 June, and after a month, it fell into its second default in 13 years as its attempt to make a settlement with holdout funds failed.


Argentina earlier ordered Bank of New York Mellon– the intermediary between the country and bondholders – make the payouts despite Griesa's order.


"The Republic will seek to hold BNY Mellon liable for any damages the Republic has suffered and may suffer as a result of BNY Mellon's acts and omissions," Reuters quoted as saying a government letter to the bank on 6 August.


"BNY Mellon has placed its interests, and those of the plaintiffs ... over those of the Exchange Bondholders, in violation of BNY's duties as Trustee," the letter said.


However, Griesa blocked the bank again from the move, saying it was illegal for Argentina to deposit money.


"Argentina will take no steps to interfere with BNY's retention of the funds," Griesa's order said.


The development comes as another setback for Argentina, and the world is closely looking at the Republic for its next move.


The default comes as a major blow for the Argentine economy, which is already in recession. It would damage its reputation further in the international capital market, as it looks to global financiers to repair its economy.