Egypt's Jon Stewart Bassem Youssef Silenced


Popular Egyptian satirist Bassem Youssef

Popular Egyptian satirist Bassem YoussefReuters



Egypt's celebrated comedian Bassem Youssef has decided to end the popular satirical TV show Al Bernameg for fears of censorship and reprisal from the military-led government.


The surgeon-turned-satirist announced from his studio in Cairo that the show, modelled after Jon Stewart's The Daily Show, was off air due to the current "media atmosphere".


Youssef's show was previously suspended by Saudi channel MBC Masr ahead of presidential elections to not "influence voters".


"The environment that we live in is not suitable for the show and I am tired and we are at the end of our tether," Youssef said. "To those who are happy the show stopped: I tell them that the stopping of El-Bernameg is a victory for us."


Youssef started his programme on YouTube after Egypt's revolution in 2011 and quickly became a voice for pro-democracy activists, gaining more than five million views in the first three months alone.


But in 2013, Egypt's public prosecutor opened an investigation into Youssef for insulting Mohammed Morsi, who was the Muslim Brotherhood's president at the time. The show was cancelled on Egyptian satellite channel CBC in October 2013 following complaints that Youssef had mocked supporters of the ex-army chief Abdel-Fattah el Sisi, who has won the country's presidential race last week by an overwhelming majority.


Youssef was featured in Time Magazine's 100 Most Influential People in 2012.



Pipeline Politics and the Battle for Power in Iraq


oil refinery

Flames emerge from a pipeline at Basra refinery in Basra province, IraqReuters



Turkey's Energy Minister Taner Yildiz has defended Ankara's decision to export Iraqi Kurdish oil after Baghdad accused its northern neighbour of being "greedy".


Yildiz described the relationship between Turkey and Iraq as fraternal. He insisted that the dispute between Iraq and the Kurdistan Regional Government (KRG) was a strictly Iraqi affair.


However, the timing of the move is anything but friendly and will widen the growing rift between the central government and the semi-autonomous body.


Baghdad and Arbil are embroiled in a long-running dispute over the right to export oil. Both parties say that the constitution allows them control over oil production, sales and general policy.


The pipeline linking the oil fields in the semi-autonomous region of Kurdistan and the Turkish port of Ceyhan was completed in 2013. Oil began flowing by December, although Ankara said it would wait until the KRG and Baghdad had reached an agreement before it began exporting the oil.


This left Baghdad with the upper hand in the dispute and the central government duly exerted pressure on the Kurds by withholding wages for KRG staff.


By going back on his earlier decision and approving the export of Kurdish oil on international markets, Turkey's Prime Minister Recep Tayyip Erdogan has relieved the pressure on the KRG and created an outlet for economic autonomy.


With an eye on August's presidential election, Erdogan may have seen an opportunity to boost the country's unstable economy and present himself as a friend of the Kurdish people. He is following through in his conciliatory approach to the Kurds within Turkey's borders, giving the Iraqi Kurds access to much-needed revenues. In return, Turkey gets cheap crude oil, which will buoy the country's coffers.


Yet, the move has infuriated Baghdad, who immediately filed international arbitration lawsuits at the International Chamber of Commerce (ICC) over the export.


Iraqi Prime Minister Nouri al-Maliki is facing a crippling terrorist insurgency across the country while also trying to form a new government – he won a plurality of seats in April's election but not enough for an outright majority. Maliki may also need the support of the Kurds to lead the country for a third term but he is negotiating from a position of relative weakness.


He is also under pressure from other oil-producing regions in the south of the country, who would seek the same rights as Kurdistan if it were allowed to keep the revenues from oil exports for its own government treasury.


In Iraq, power used to lie with Saddam Hussein and the vast state that he built up around himself. However, with the state dismantled by the Americans and the dictator long gone, power in the new Iraq resides with whoever controls the country's oil reserves.


While the KRG has made a breakthrough in its desire to wrest some power away from the central government, Baghdad will not relinquish its grip easily.



Netanyahu: Abbas Says 'Yes to Terror' with Palestinian Unity Government


srael's Prime Minister Benjamin Netanyahu (C)

srael's Prime Minister Benjamin Netanyahu (C)Reuters



The Israeli government has strongly condemned the new Palestinian unity government, rejecting any peace negotiations and authorising PM Benjamin Netanyahu to impose financial sanctions.


Netanyahu asserted in a statement that Palestinian President Mahmoud Abbas "said today 'yes to terror and no to peace," referring to the new government - which is backed by the Islamic militant group Hamas.





Israel considers Hamas, which rules the Gaza strip, a terrorist group. The Israeli cabinet said it would hold Abbas responsible for any attacks coming from Gaza.


Israel has in the past withheld tens of millions of dollars in taxes it collects each month on behalf of the Palestinians.


Earlier, Abbas praised the "end of a Palestinian division" as he swore in the unity government.


The new administration took the oath of office in Ramallah, the headquarters of government in the Israeli-occupied West Bank. Three ministers from Gaza were denied entry to the West Bank by Israel.


The Fatah-Hamas government was also criticised by right-wing economy minister Naftali Bennett who called it a "government of terrorists in suits" in a Facebook post.


""The government of terrorists in suits established by Fatah and Hamas, the very same organisation that in its charter has horrific sentences such as calling for 'killing the Jews who are hiding behind trees and stones,' is an illegitimate government," he wrote.



Brazilian Student Undergoes Surgery to Look Asian


Xiahn

Xiahn became interested in having an Asian look while he studied at South Korean Dongseo UniversityFacebook



A Brazilian student has undergone more than 10 surgical operations to change his appearance and look more Asian, after spending one year in South Korea.


The student, now known only as Xiahn, said he has been fascinated by South Korean life since he was 19.


He became interested in acquiring an Asian look while studying at South Korea's Dongseo University.


Xiahn, 25, has spent more than $3100 (£1851) to look like a natural-born Asian man.

"I put my fingers inside the eye and pulled. That was the way I wanted to have my eyes," he told Brazilian newspaper Zero Hora.


"I was not afraid that something would go wrong, but I was afraid to stay with scarring in the eye and so I did look plastic, but everything worked out. My vision is perfect."


Xiahn, previously named Max, wears dark contacts lenses and dyes his hair black to accentuate his Asian look. His hair was previously blond and his eyes blue.


Speaking to Brazilian newspaper O Globo, Xiahn said he struggled to find a plastic surgeon willing to help him.


"I was, in a sense, a guinea pig experiment," he said.


Xiahn

Xiahn, 25, has spent more than $3000 (£1791) to look like a natural-born Asian man.Facebook



The student has received harsh criticism for his decision, but he is very happy with the result of the operations.


He told the Korea Herald: "I have no regrets, and I don't intend to have any more procedures.


"Koreans have many surgeries to modify the shape of their eyes and become more like Westerners. It was easy to tell when one of them had done it, walking on the street wearing sunglasses and a surgical mask."


On his Facebook account, the student wrote: "Regardless of religion that the person is, whether or not you believe in past lives, you have only this life, you have to be who you want to be."


Xiahn said his father supported his choices, while his mother was less understanding.


The student now models for a website which sells Asian-inspired clothing in Brazil.



Ex-Israeli Footballer 'Turned Organ Trafficker' Arrested in Cyprus


organ traffick kidney

A man prepares for a kidney transplant operation.BRENDAN SMIALOWSKI/AFP/GettyImages



An Israeli man suspected of being the mastermind of an organ trafficking ring has been arrested in Cyprus.


Uzi Shmueli, a former professional footballer with Hapoel Beersheba, was detained upon landing at Larnaca airport on the Mediterranean island, the Times of Israel reported.


Shmueli was reportedly arrested for presenting a forged passport to custom authorities and was subsequently handed a four-month jail sentence by a local judge.


He had purportedly travelled to Cyprus to see his wife and daughter, but Israeli authorities suspect he actually fled the country after they opened an investigation against him for organ trafficking.


Detectives believe Shmueli headed a crime ring that preyed on young Israeli women facing financial hardship, and solicited them to sell their kidneys.


The women were reportedly paid about 20,000 Israeli Shekels (£3,400) to travel to Turkey to have their organs removed in a medical procedure and sold to wealthy recipients.


Local media said it was not immediately clear whether Israeli authorities were to file a request with Cyprus to extradite Shmueli, or wait until the ex-footballer has served his time and is thus automatically deported back to Israel upon release.


Last year, Costa Rican authorities said they busted another organ trafficking ring that allegedly involved Israeli doctors performing kidney removal surgery on Costa Rican 'donors' and then selling the organs to patients in Israel and Europe.



Oscar Pistorius Trial: Worried Callers Flood Helplines Fearing 'Oscar Sickness' Gun Rampages


Oscar Sickness fear has gripped South Africa as worried callers speak of fearing gun rampages by anxious relations

Oscar Sickness fear has gripped South Africa as worried callers speak of fearing gun rampages by anxious relationsGetty



A charity in South Africa said it has been flooded with calls from people worried about potential shooting rampages by friends and relatives or, as it is now being referred to locally, Oscar sickness.


Oscar Pistorius, currently on trial for the murder of girlfriend Reeva Steenkamp, is allegedly suffering from a condition known as Generalised Anxiety Disorder (GAD).


Since the fallen track star's condition has been made public, a link has been planted in some people's minds of a causal link to that of gun violence.


It's an unfortunate one because statistically, people with mental health problems are more likely to be victims of violence than perpetrators.


The South African Depression and Anxiety Group issued an appeal for calm after getting "hundreds of calls" about 'Oscar sickness.' Most wanted to know if the condition caused "unpredictable, unstable and violent" behaviour in sufferers.


Group director Casey Chambers said: "Many people have become nervous about telling others that they have GAD in case people also to start to think that they are dangerous or violent."


According to Timeslive, GAD rates are running at just over 8 percent among South Africans.


Pistorius is currently undergoing tests at a mental health facility in Pretoria after the court ruled it must be established whether the condition played a role in him shooting dead his model girlfriend.


A consequence of the high-profile case has been a rise in stigma about GAD, which the Oscar sickness nickname will do little to dispel.


Chambers said: "Many people have become nervous about telling others that they have GAD in case people start to think that they are dangerous or violent.


"Anxiety is an introspective issue and sufferers of GAD are highly unlikely to be dangerous to others."


Pistorius denies premeditated murder and claims he mistook Steenkamp for an intruder inside his luxury home on the outskirts of Pretoria. The prosecution alleges he killed her following an argument.


Pistorius also faces charges of illegally firing a gun in public and of possessing ammunition, both of which he denies.


The trial continues.



Japan's Dai-ichi Life Eyes America's Protective Life for $5bn


Japan's Dai-ichi Life in Talks to Acquire US-based Protective Life for $5bn

Japan's Dai-ichi Life in talks to acquire US-based Protective Life for $5bn.Reuters



Japan's Dai-ichi Life Insurance is reportedly in talks to acquire America's Protective Life in a bid to expand to the US, the largest life insurance market by premium revenue.


Dai-ichi on 2 June confirmed to the Tokyo Stock Exchange that it is in talks with a US insurer but refused to name the firm.


A deal could be worth over $5bn (£2.9bn, €3.7bn), according to media reports.


Protective Life's stock was trading 12.56% higher to $58.87 at 09:46 EDT in New York, valuing the firm at some $4.64bn.


Dai-ichi's stock finished 4.97% lower at 1,433 yen in Tokyo Trade, valuing the firm at some 1.42tn yen.


Dai-ichi Life is Japan's second-largest private-sector life insurer and the decision to acquire a US based peer comes against a backdrop of a saturated home market -- Japan is the second-largest life insurance market by premium revenue and the Japanese population is shrinking and ageing.


Japanese insurers have been acquiring overseas assets in a bid to move away from a stagnant domestic market.


In May, Japan's largest private-sector life insurer, Nippon Life Insurance agreed to pay 4.87 trillion rupiah ($414m) for a 20% stake in Indonesia's Sequis Life.


Dai-ichi in 2013 said it was prepared to spend 300bn yen in mergers and acquisitions over the next two years.


Dai-ichi acquired a 40% stake in Indonesia's Panin Life for $337m in 2013. The Japanese insurer bought Tower Australia Group for $1.2bn in 2010.


The biggest acquisition by a Japanese insurer thus far is Tokio Marine Holdings' purchase of US-based property and casualty insurer Philadelphia Consolidated Holding for approximately $4.7bn in 2008.



India's Central Bank May Cut Interest Rate by 25bps: Survey


India's Central Bank May Cut Interest Rate by 25bps: Survey

RBI Governor Raghuram Rajan.Reuters



The Reserve Bank of India (RBI) could cut interest rates by 25 basis points (bps) at its policy review on 3 June, the central bank's first credit policy meeting after the formation of the Narendra Modi government.


The RBI could announce "a small, though symbolic cut in interest rates" when it meets on Tuesday, according to a poll of economists and CEOs by industry lobby group The Associated Chambers of Commerce and Industry of India (Assocham).


However, investors do not expect a rate cut before early 2015, according to Reuters.


Some 76% of the 125 respondents said RBI Governor Raghuram Rajan "is walking a tight rope as he knows the mind of the new Government, which has been projected as pro-growth. On the other hand, he would have also been sounded by the new establishment about the people's expectations from the new government to hold the price line, especially of the essential commodities," according to an Assocham statement.


"While the RBI is an autonomous central bank and the monetary policy is its sole prerogative, it is expected by a large number of corporate leaders and economists that the central bank chief would show much more pragmatism after his interactions with the new finance minister Arun Jaitley who has shown it clearly that the NDA Government is pro-reforms," the statement reads.


Meanwhile, Standard Chartered said in a note to clients: "...We believe subdued growth is unlikely to prompt [the RBI] to change its repo rate from 8%.


"The RBI Governor will likely await more clarity on the impact of monsoon rains on CPI inflation and the new government's commitment to fiscal consolidation."


"The RBI Governor's comments last week reiterated the commitment to eventually reduce inflation to 6%," the British firm added.


Modi and Rajan


Investors expect New Delhi to check inflation by lowering subsidies, improving the food distribution mechanism and by laying the ground for more investment in infrastructure.


India's powerful new prime minister and its hawkish central bank chief could be headed towards a collision course if inflation remains high.


Rajan, speaking at a seminar in Tokyo on 30 May, said he expected to work with the Modi regime to tame high inflation in India.


High inflation will prevent the RBI from lowering interest rates.


High interest rates make loans more expensive, creating a difficult environment to re-ignite growth, which is the mandate given to Modi, a hard-nosed politician known for his pro-business governance model.


Rajan on 27 May said battling inflation will continue to be a priority, after his first meeting with the new finance minister, Arun Jaitley, a leading corporate lawyer.


The RBI has raised interest rates thrice, by a total of three-quarters of a percentage point, since Rajan took charge in September 2013, moves aimed at battling persistently high inflation in Asia's third-largest economy.



Japan Reaches Trade Sanctions Agreement with North Korea Pending Kidnapping Investigation


kim jong un women

North Korean leader Kim Jong-un is mobbed by crying, adoring women as he guides a rocket launching drillReuters



The Japanese government has refused to remove trade sanctions against North Korea after high-level discussions in Stockholm.


However, there will be some easing of sanctions in a year's time, subject to North Korea investigating the kidnapping of Japanese citizens in the 1970s and 80s.


"Pyongyang should notify us of the results of the investigation of abduction victims within a year," said chief cabinet secretary Yoshihide Suga.


Japan banned all imports from the reclusive state in 2006, three days after North Korea claimed it had launched its first nuclear test. In 2009, it extended the ban to include exports.


Jiji Press, the Japanese newswire, reports that North Korea insisted that Japan completely remove its export and import ban in exchange for the investigation.


Japan subsequently offered to "ease restrictions on North Korean people's movements between the two countries and money transfers, and a ban on North Korean ships' entries to Japanese ports when Pyongyang starts to reinvestigate the abduction issue".


North Korea's chief negotiator, Song Il Ho, is reported to have accepted the terms, which will come into effect in 2015.


Seventeen Japanese citizens are officially recognised by the Japanese government to have been kidnapped by North Korean government agents over six years from 1977. However, many in Japan speculate that there were hundreds of victims.


At the turn of the century, Japan accounted for 19% of North Korea's bilateral trade, just behind China.


Today, media in South Korea carried editorial voicing concerns as to the outcome of any easing of trade sanctions with North Korea.


"There are concerns that international cooperation to prevent North Korea from developing nuclear weapons and missiles could be in jeopardy if Tokyo lifts trade sanctions against the North," read one piece in the Chosun Ilbo, a major national newspaper.



Qatar 2022 World Cup Bribery Claims: Time to Kick Fifa out of Football?


Sheikh Mohammed bin Hamad al-Thani (L) shakes hands with FIFA president Sepp Blatter

Chairman of the Qatar 2022 bid committee Sheikh Mohammed bin Hamad al-Thani (L) shakes hands with FIFA president Sepp BlatterGetty



The latest allegations of bribery and corruption in the Fifa ranks throw football's governing body once more into disrepute.


The Sunday Times alleged that Mohamed bin Hammam, the former Fifa executive member for Qatar, used a slush fund to pay millions of dollars to influential football officials in order to win a "groundswell" of support for the bid. The newspaper's allegations are based on "millions of documents" it says it has obtained.


Accusations of corruption will not be a new scenario for Fifa to deal with and although they have not been proven, the latest set-back could prove to be too difficult for the sports regulator swat away. The urgent question that now arises in the wake of this latest wave of damaging allegatiions: Is Fifa doing more harm than good to Football?


The decision to award the 2022 World Cup to Qatar was met with criticism from all quarters. A decision that the footballing community struggled to comprehend. Keen Fifa observers suspected something was amiss.


Fifa is not the only one in the dock, Qatar's reputation too is on the line having been mired in unrelenting criticism for inhumane working conditions which sees labourers work day and night in blistering heat to complete state of the art stadia in preparation for the global football community.


But it is not just allegations of corruption that have cast a shadow over Fifa. It has slipped on a series of PR banana skins in Sepp Blatter's tenure as the head of the organisation.


Fifa has become the embodiment of modern day football as it epitomises the prima donna nature of a sport dominated by money.


From the moment Fifa announced Qatar was to play host to the World Cup, the footballing world's first thoughts was, 'how much did it cost them?'


The news that the president of the Caribbean FA Jack Warner, received large payments from Qatari companies during and after the bidding process did not come as a surprise to many, it actually made a lot of sense.


And Fifa's response to this? Whilst some of the heads of the local authorities, such as England's FA, have come out and said that the whole bidding process should be revisited following the news, the official word from Fifa is ... Silence.


It's hard to imagine a scenario where Blatter did not know what was allegedly happening behind him considering the allegations that have previously been made such as bribery to the heads of Footballing Associations across the majority of Africa, and the Caribbean.


This begs the question, could the footballing world survive without a head? Quite frankly, it would seem so.


More often than not, whenever a controversy surrounds football in local communities, such as Luis Suarez's racism or his biting, or racist chants that come from the stands in Spain and Italy on a regular basis, Fifa leaves the punishment to the country's Football Association.


As it stands, there is no consistency across the globe when it comes to punishment. Racist chanting can lead to a heavy fine, a slap on the wrist, a partial stadium ban, but very rarely does Fifa intervene or overrule.


In fact, when it comes to racism, despite constant protestations of tackling the ugliest side of football, Blatter once claimed that the players should just deal with it themselves.


"The [player] who is affected by [racism], he should say that this is a game. We are in a game, and at the end of the game, we shake hands, and this can happen, because we have worked so hard against racism and discrimination," he said in 2011.


International tournaments could also obviously do with a shake-up if the current allegations are anything to go by. Following this year's World Cup, the next two tournaments will be held in Russia, in 2018, and Qatar, in 2022.


It is hard to imagine that these two nations won the bidding process on merit – but maybe that is just coming from a bitter Englishman following our dismal performance in the 2018 and '22 World Cup bidding process, receiving just one external vote.


The World Cup this year will bring in an extortionate amount of money – over £2bn if you believe NPD's report – to the footballing world.


With that in mind, it was important that Fifa got the destination of the tournament right for the sake of the sport.


Instead, it seems that it put its own personal greed ahead of the good of the game.


Bribery and corruption claims continue to pop up time and time again. It is us as football fans who need to take action.


Russia and Qatar's World Cups have already been the subject of boycotting calls. Although that's a highly unlikely scenario, maybe it's just the stand that the footballing world needs to take against Fifa to show that the community can't be bullied with money.


Without us, there is no cash in the World Cup. Without money, there is no motivation for Fifa.



Palestinian Unity Government Sworn In


Palestinian Prime Minister Rami Hamdallah (4th L) and Palestinian President Mahmoud Abbas (3rd L) pose for a group photo with Palestinian ministers during a swearing-in ceremony of the unity government, in the West Bank city of Ramallah

Palestinian Prime Minister Rami Hamdallah (4th L) and Palestinian President Mahmoud Abbas (3rd L) pose for a group photo with Palestinian ministers during a swearing-in ceremony of the unity government, in the West Bank city of RamallahReuters



Palestinian president Mahmoud Abbas has praised the "end of a Palestinian division" as he swore in a unity government under a unity deal with the Islamist militant group of Hamas, which rules the Gaza Strip.


The leader of moderate Fatah movement said the new cabinet, formed of 17 members, would also include five ministers from Gaza and would strive to pursue peace with Israel.


The new administration took the oath of office in Ramallah, the headquarters of government in the Israeli-occupied West Bank. Three ministers from Gaza were denied entry to the West Bank by Israel.


"Today, with the formation of a national consensus government, we announce the end of a Palestinian division that has greatly damaged our national case," Abbas said.


Earlier, a dispute between Hamas and Fatah broke out as the Islamist group said it would oppose a cabinet without the ministry for Prisoners Affairs.


Sami Abu Zuhri, a Hamas spokesman, said the Islamists would not accept a government without that ministry and that it was their "final decision".


An agreement was reached later as prime minister Rami Al-Hamdallah accepted also the post of Prisoners Affairs to resolve the dispute.


The Palestinian Authority split in June 2007, when Hamas forced the PLO out of Gaza in a brief civil war that left more than 100 dead and 500 wounded.


Israeli prime minister Benjamin Netanyahu has appealed to world leaders not to recognise the new Palestinian government, saying it would serve as a front for Hamas and "strengthen terrorism".



India: 13 Killed by Lightning in West Bengal as Monsoon Gathers Pace


India: Lightning Kills 13 in West Bengal

India: Lightning kills 13 in West BengalReuters



At least 13 people have been killed and 20 others injured by lightning in the Indian state of West Bengal.


Most of the victims are believed to have been farmers and were in the fields when the lightning struck.


The eastern state has been witnessing widespread pre-monsoon showers.


Most of the fatalities took place in the three districts of Murshidabad, Burdwan and North Parganas. The injured have been taken to hospital for treatment.


Originating from Iran and Turkmenistan, the dry, cold air moves towards the south of the Himalayas bringing severe weather which is locally known as kalboishakhi.


The stormy weather is generally accompanied by massive bolts of thunder, lightning and torrential rain which wreak havoc on the eastern Indian states and neighbouring Bangladesh.


The Indian weather department has said the conditions are likely to persist for the next few days.



Seven Die Retrieving 45p From Bottom of Well in Cambodia


water well

Police say all seven died due to lack of oxygen at the bottom of the well(Getty)



Seven people have died in Cambodia after a man went to the bottom of a well trying to retrieve the equivalent of 45p (75 cents).


The man accidently dropped the 3,000 riel down the well and attempted to retrieve the money in the northwestern province of Siem Reap.


However, after he reached the bottom of the 16 feet (five metre) well, he slipped into a coma due to lack of oxygen.


When others attempted to help the man after they saw him collapse, they too slipped into a coma and died.


Three of the man's children - an 11-year-old boy, his 13-year-old sister and 15-year-old brother - were among those who died during the incident.


Che Chhan, another of the man's children, said her father dropped the money while taking water.


"My youngest brother thought the amount of money was huge for poor people like us," Che Chhan told the Associated Press.


Capt Muy Norn, acting police chief of the Banteay Srei district in Cambodia, said: "When relatives and villagers saw the man collapsed at the well's bottom, they subsequently got into the well to help him and they all also got fainted and died in the well."


Speaking to Koh Santepheap Daily, he added: "In total, seven people including two women died in the well. We concluded that they all died of a lack of oxygen in the old and unused well."


Cambodia is known to be one of the poorest countries in the world.



Global House Price Growth Slowing


Dubai

The Burj Khalifa in Dubai, where house prices grew by 27.7% in the first quarter of 2014Reuters



The overall pace of house price growth across the world is slowing, but there are marked differences between countries.


Knight Frank said its global house price index grew by 7.1% over the year in the first quarter of 2014. The 54-country index had lifted by 8.4% annually in 2013.


The state with the strongest pace of growth was Dubai, which Knight Frank's index said recorded a 27.7% jump in house prices between the first quarter of 2013 and 2014. Second place was China at 17.5% and third Estonia at 16.2%.


Croatia recorded the worst fall with a 9.7% drop. Second from bottom was Cyprus, which almost went bankrupt in 2013 when it was struck by a banking crisis, at an 8.7% drop. Just above them was troubled Greece, which registered an 8.4% fall in house prices.


The UK came in twelfth overall, with a 9.1% leap in its index for house prices. The US, in ninth, saw a 10.3% rise over the year.


Across the UK, US and Europe central banks have held down interest rates in order to support economic recovery by making credit cheap.


In turn, this has made mortgages easier to access by bringing down borrowing costs, fuelling housing demand and driving up house prices in some areas.


With the recovery strengthening in the US and UK, and the beginnings of a recovery emerging in the eurozone, there are signs that central banks will begin lifting rates again.


"We expect to see the index's performance strengthen again in the second quarter," said Kate Everett-Allen, the Knight Frank report's author.


"All eyes will remain on central banks, in particular the Federal Reserve, the Bank of England and the European Central Bank.


"The issue is not when interest rates rise, but the speed and extent to which they do."



Baghdad Warns Buyers of 'Stolen and Smuggled' Oil as Iraq-Kurdistan Dispute Escalates


Ceyhan oil worker

A worker walks down the stairs of an oil tank at Turkey's Mediterranean port of Ceyhan(Reuters)



The Iraqi government has warned international oil companies against buying crude oil exported from Iraqi Kurdistan, saying it will take action against buyers of "stolen and smuggled" oil.


"The Ministry of Oil confirms its warning to the world companies and markets not to buy the oil cargo on the vessel (United Leadership) which is loaded with crude oil extracted from the oil fields of the Kurdistan region," the ministry said in a statement.


The crude oil tanker made global headlines when it departed from Turkey's Ceyhan port in May, loaded with crude oil exported by the Kurdistan Regional Government (KRG) via the newly finished pipeline to Turkey. The oil was exported without the approval of the central Iraqi government in Baghdad.


The United Leadership vessel reversed course after seemingly heading for the United States Gulf Coast, according to ship tracking and market analysts. The reversal has prompted speculation that the exporters have yet to find a buyer.


Iraq's oil ministry said it is tracking the oil tanker and said its cargo left the country illegally and without the permission of Iraq's federal government and oil ministry.


Baghdad has filed for arbitration against Turkey in a bid to prevent Ankara from importing and exporting oil from the KRG without central government approval.


The Kurdish leadership has said its oil exports are in line with the country's constitution and that it has exported oil in trucks via Turkey and Iran for years.


The dispute between Iraq and Kurdistan erupted over Arbil's desire to sell oil via the new pipeline. The bitter standoff has become entrenched and has prompted the KRG to act without Baghdad's approval.


"There is no going back," KRG's prime minister Nechirvan Barzani told parliament in May.


"If we cannot reach a shared understanding, we have other options and we cannot wait forever. Why did we begin selling oil? In order to make Baghdad realise that we can do it," he added.



US Foreign Policy Has Erectile Dysfunction Problems, Says Chinese General


Obama's Foreign Policy Has Erectile Dysfunction Issues, Mocks Chinese General

Chinese People's Liberation Army (PLA) soldiers practice shooting with pistols at a military base amid heavy snowfalls in Hami, Xinjiang Uighur Autonomous RegionReuters



A Chinese general has mocked the foreign policy of the Obama administration, saying its strategies have erectile dysfunction problems.


Speaking during the Shangri-La Dialogue in Singapore, Major General Zhu Chenghu, dean of the National Defence University of the People's Liberation Army, told a Chinese audience that US foreign policy lacks a firm grip and Washington is not a reliable ally.


"As US power declines, Washington needs to rely on its allies in order to reach its goal of containing China's development. But whether it will get involved or use military intervention once there is a territorial dispute involving China and its neighbours, that is another issue," Zhu told the Hong Kong-based television channel Phoenix TV, which has close links with Beijing.


Citing the US's standpoint on the recent Ukraine crisis, Zhu said: "We can see from the situation in Ukraine this kind of ED [referring to Extended Deployment], has become the male type of ED problem – erectile dysfunction," according to the WSJ.


Zhu was reacting to US Defence Secretary Chuck Hagel's remarks at the Asian security forum where the latter accused Beijing of "destabilising actions" in the South China Sea region, referring to the territorial disputes with China's neighbouring countries.


Zhu was not the only one to condemn Hagel's comments, which were echoed by Japanese Prime Minister Shinzo Abe.


"The Chinese delegation... has this feeling that the speeches of Mr Abe and Mr Hagel are a provocative action against China," Lieutenant General Wang Guanzhong, a high-ranking military officer who led the Chinese delegates, told the conference.


"The speeches made by Mr Abe and Mr Hagel gave me the impression that they coordinated with each other, they supported each other, they encouraged each and they took advantage of speaking first... and staged provocative actions and challenges against China."



Galapagos Islands Reel in SRT Tracking Technology to Protect Marine Life


A hammerhead shark swims close to Wolf Island at Galapagos Marine Reserve August 19, 2013.

A hammerhead shark swims close to Wolf Island at Galapagos Marine Reserve August 19, 2013.Reuters



The Galapagos Islands has reeled in a boat load of technology, which is used to monitor and track ships, in a bid to protect its marine life from ships.


UK based Software Radio Technology (SRT) confirmed in a statement that it has received an order for over 400 Identifier Automatic Identification System (AIS) transceivers and a GeoVS Viewer, a display system for the tracking technology, for deployment in the highly protected Galapagos Islands.


"The order from the Galapagos Islands is in line with the global trend of authorities seeking to monitor their maritime domains using AIS," said Simon Tucker, CEO at SRT.


Figure 1

Figure 1 - Automatic Identification System (AIS) technology by SRTReuters



"The Identifier was developed specifically for small fishing boat monitoring and so were perfect for this project.


"Although a small order, the Galapagos is an excellent showcase for the pending Ecuador fishing fleet monitoring project with up to 20,000 vessels, and the wider South American market."


The Marine sector is one of the most crucial industries in the world as 98% of the goods we use are at some point shipped between different countries.


More importantly, the radical development in marine technology has not only help safeguard the industry but has made it more efficient and easier to track.


The units, which will be shipped in June, will be used to monitor vessels operating in the Galapagos maritime territory in a bid to preserve the environment.


Due to the sensitive and unique ecosystem of the Galapagos Islands, which are located 650 miles from the coast of Ecuador and a province of the South American country, vessels are only permitted to operate in certain areas at specific times.


In 2012, Ecuadorian authorities determined that all boats operating in the vicinity of the islands should be tracked and monitored by them to ensure compliance with operating regulations.



India's Finance Minister Arun Jaitley Promises Fiscal Discipline


Arun Jaitley India

India's new Finance Minister Arun Jaitley sits inside his office at the finance ministry in New Delhi.Reuters



India's new finance minister, Arun Jaitley, has pledged to uphold fiscal discipline, despite mounting pressure on public finances from data showing that the nation is suffering its worst slowdown in over 25 years.


Jaitley, also holding the defence portfolio in Prime Minister Narendra Modi's week-old government, is expected to present his first budget in early July.


In a post on his Facebook page, titled From Celebration to Challenge, Jaitley said pulling India out of the current economic despondency will involve "fiscal rectitude as [a] combination of monetary and fiscal policy".


"Slower GDP growth will imply lower tax buoyancy and [a] higher fiscal deficit," he added. "We must move towards an era of fiscal discipline where we can reduce the fiscal deficit, contain inflation and improve upon our growth rates."


"We must commit ourselves to this discipline... Short term disciplining till we reverse the present trend will give us long term benefits."


Data released on 30 May showed India's economic growth inched up from a decade low in the financial year ended March 2014. However, the reading missed expectations, suggesting the new government faces an uphill task in fixing the nation's economy.


Asia's third largest economy expanded by 4.7% in financial year 2013-14.


The reading came in below the official estimate of 4.9% annual growth and compared with the decade low of 4.5% clocked in fiscal 2012-13.


It marked the second consecutive year of sub-5% growth, resulting in the worst slowdown in more than 25 years.



Hot Shots Photos of the Day: Hidden Cash, Homemade Batmobile, Life Ball


Brian Fitzpatrick holds a plastic Angry Bird toy filled with cash he found on Hermosa Beach, California. An anonymous cash donor who sparked off a treasure hunt across San Francisco by hiding envelopes full of bills in unlikely places and providing clues via Twitter under the handle @HiddenCash has moved operations to Los Angeles, sparking a frenzy

Brian Fitzpatrick holds a plastic Angry Bird toy filled with cash he found on Hermosa Beach, California. An anonymous cash donor who sparked off a treasure hunt across San Francisco by hiding envelopes full of bills in unlikely places and providing clues via Twitter under the handle @HiddenCash has moved operations to Los Angeles, sparking a frenzyReuters



A sheep named Falco, dressed in the colours of the Colombian national team, grazes during an exhibition in Nobsa, Colombia

A sheep named Falco, dressed in the colours of the Colombian national team, grazes during an exhibition in Nobsa, ColombiaReuters



An artist paints a sand sculpture of Neymar and Messi on Copacabana Beach in Rio de Janeiro, Brazil

An artist paints a sand sculpture of Neymar and Messi on Copacabana Beach in Rio de Janeiro, BrazilGetty



Luke Shaw, Danny Welbeck and the rest of the England squad prepare to board a plane in Luton for the 2014 Brazil World Cup

Luke Shaw, Danny Welbeck and the rest of the England squad prepare to board a plane in Luton for the 2014 Brazil World CupGetty



Andy Murray of Britain reacts after winning his men's singles match against Philipp Kohlschreiber of Germany at the French Open at Roland Garros

Andy Murray of Britain reacts after winning his men's singles match against Philipp Kohlschreiber of Germany at the French Open at Roland GarrosReuters



Vincent Latoel of Netherlands in action during his fight against Eddie Ng of Hong Kong at Singapore Indoor Stadium

Vincent Latoel of Netherlands in action during his fight against Eddie Ng of Hong Kong at Singapore Indoor StadiumGetty



Wang Yirong of Hebei province rides his motorcycle in the desert during the China Taklimakan Rally in Shanshan, Xinjiang Uighur Autonomous Region

Wang Yirong of Hebei province rides his motorcycle in the desert during the China Taklimakan Rally in Shanshan, Xinjiang Uighur Autonomous RegionReuters



Participants are covered in paint as they take part in the Colour Run in London

Participants are covered in paint as they take part in the Colour Run in LondonReuters



Designer Jean Paul Gaultier and Eurovision Song Contest winner Conchita Wurst arrive for the opening ceremony of the 22nd Life Ball in Vienna

Designer Jean Paul Gaultier and Eurovision Song Contest winner Conchita Wurst arrive for the opening ceremony of the 22nd Life Ball in ViennaReuters



Courtney Love and Andreas Kronthaler, husband of designer Vivienne Westwood, walk on stage during the opening ceremony of the Life Ball in Vienna, Europe's largest annual AIDS charity event

Courtney Love and Andreas Kronthaler, husband of designer Vivienne Westwood, walk on stage during the opening ceremony of the Life Ball in Vienna, Europe's largest annual AIDS charity eventGetty



A child fishing looks at Brazilian sailing ship Cisne Branco, Argentinian sailing ship Libertad, Mexican sailing ship Cuauhtemoc, and Venezuelan sailing ship Simon Bolivar, during the Velas Sudamerica (South American Sails) 2014 regatta in Santo Domingo in the Dominican Republic

A child fishing looks at Brazilian sailing ship Cisne Branco, Argentinian sailing ship Libertad, Mexican sailing ship Cuauhtemoc, and Venezuelan sailing ship Simon Bolivar, during the Velas Sudamerica (South American Sails) 2014 regatta in Santo Domingo in the Dominican RepublicReuters



People stand near an installation called Sombras del Bosque (Shadows of the Woods), made out of deer antlers, by Mexican artist Fernando Gonzalez Gortazar at the Museum of Modern Art in Mexico City

People stand near an installation called Sombras del Bosque (Shadows of the Woods), made out of deer antlers, by Mexican artist Fernando Gonzalez Gortazar at the Museum of Modern Art in Mexico CityReuters



A man paints a homemade replica of the Batmobile on the outskirts of Shanghai. Li Weilei, a local businessman, builds replicas like the Batmobile, Formula One cars and Transformers for rent or sale

A man paints a homemade replica of the Batmobile on the outskirts of Shanghai. Li Weilei, a local businessman, builds replicas like the Batmobile, Formula One cars and Transformers for rent or saleReuters



People run away as tear gas is fired during clashes between riot police and demonstrators in Ankara, Turkey

People run away as tear gas is fired during clashes between riot police and demonstrators in Ankara, TurkeyReuters



A pro-Russian militant of

A pro-Russian militant of "Battalion East" loads a shell into a mortar as he takes part in military exercises in a forest not far from the eastern Ukrainian city of DonetskAFP



A Seleka fighter smokes at their base in Grimari, Central African Republic

A Seleka fighter smokes at their base in Grimari, Central African RepublicReuters



Sin Wai-keung, 52, newspaper editor and former news photographer, poses in front of a projection of a photograph he took in Beijing in 1989. Sin's photo shows a man standing in front of a column of tanks in Beijing on the morning of 5 June, 1989

Sin Wai-keung, 52, newspaper editor and former news photographer, poses in front of a projection of a photograph he took in Beijing in 1989. Sin's photo shows a man standing in front of a column of tanks in Beijing on the morning of 5 June, 1989Reuters



An anti-coup protester is arrested by Thai police during a demonstration at a shopping mall in Bangkok

An anti-coup protester is arrested by Thai police during a demonstration at a shopping mall in BangkokAFP



Anti-coup protesters wear paper bags with messages written on them during a protest at a shopping mall in Bangkok

Anti-coup protesters wear paper bags with messages written on them during a protest at a shopping mall in BangkokReuters



A worker inspects damage inside the Faculty of Mechanical Engineering Technology school compound in Benghazi after a Libyan air force plane dropped a bomb on it. The attack was part of a campaign by irregular forces loyal to former Libyan army general Khalifa Haftar who launched operations against Islamist militants he says a weak central government has failed to control

A worker inspects damage inside the Faculty of Mechanical Engineering Technology school compound in Benghazi after a Libyan air force plane dropped a bomb on it. The attack was part of a campaign by irregular forces loyal to former Libyan army general Khalifa Haftar who launched operations against Islamist militants he says a weak central government has failed to controlReuters



A member of the Kovacevic family cleans up the debris in front of their house after severe floods caused a landslide in Topcic Polje, Bosnia

A member of the Kovacevic family cleans up the debris in front of their house after severe floods caused a landslide in Topcic Polje, BosniaReuters




China's Property Market Seen Cooling Off Amid Weak Sales


China's Property Market is Cooling Off

A photograph of a new residential compound in Taiyuan, Shanxi province, China.Reuters



China's home prices were slightly lower in May over April amid weak sales, suggesting that the nation's realty market is cooling off and that buyers in the world's second largest economy are holding off purchases despite Beijing's efforts to revive sales.


A survey by China Real Estate Index System (CREIS) showed average prices in the 100 biggest cities fell 0.32% in May from April, the first drop in nearly two years.


A separate survey by realty services firm E-House China Holdings showed prices of new homes in 288 cities fell 0.03% in May from April, logging the second straight month-on-month drop.


On an annual basis, home prices rose 5.8% in May, but the reading was lower than the 6.9% rise in April, and marked the seventh straight month of slowing annual property inflation.


Meanwhile, CREIS said home prices rose 7.8% in May, easing from a 9.1% gain in April.


Local governments have eased restrictions on home buying, but potential buyers are delaying purchases amid an oversupply situation in several Chinese cities.


Slower growth in disposable income against a backdrop of an economic downturn may have fuelled the wait-and-watch sentiment among home buyers.


The property sector directly affects 40 other industries and the central bank in early May ordered commercial banks to provide more credit to first-time home buyers and prioritise the issuing of mortgages.


Government data for April showed that home prices growth slowed to a near one-year low.


Sales Drop


Home sales in China have dropped by some 10% in the first four months of the year, when compared with the year-ago period.


Construction starts for housing have tanked 24.5% over the same period.


The per capita disposable income of urban households in China increased 9.7% in 2013, compared with a 12.6% gain in 2012, according to official data.



Saudi Arabia and UAE Ready Massive $20bn Aid Package to Boost Egypt's Shattered Economy


Tahrir celebrates Sisi victory

A woman celebrates Abdel Fattah al-Sisi's victory in the Egyptian presidential elections in Tharir Square(Reuters)



Saudi Arabia and the United Arab Emirates are preparing a $20bn aid package for Egypt following Abdel Fattah al-Sisi's victory in presidential elections, according to reports in the Egyptian media.


A government source was quoted in the Al-Masry Al-Youm newspaper as saying that the Saudis had already contacted the interim government about providing assistance to Egypt, on the condition that Sisi emerged victorious from the vote.


The energy-rich Gulf states provided billions of dollars worth of aid to the Egyptian government and military after the Islamist former president Mohamed Morsi was ousted in a coup in July 2013.


In total, Kuwait, Saudi Arabia and the UAE have pledged $12bn (£7.1bn, €8.8bn) in loans and donations since the interim government took control of Egypt.


The report said the package would include deposits to the central bank to prop up Egypt's falling currency, as well as low interest loans to boost investment in public infrastructure.


The UAE's foreign minister Sheikh Abdullah bin Zayed told reporters after Egypt's election that the Gulf states would seek mroe international partners to assist Egypt, as the Arab world's most populous nation seeks to rebuild its broken economy.


"We want to have partners from around the world involved, whether it be partners like Germany... or institutions like the World Bank and the IMF," he said.


Egypt's economy has stalled in recent years as the country was engulfed by political turmoil that has seen two presidents ousted from power in three years.


Sisi, a former head of the armed forces, won the presidential election in May with more than 90% of the vote, although turnout was lower than expected.



New Tests by Malaysia's Jakim Find No Pork Traces in Disputed Cadbury Products


a box containing Cadbury Dairy Milk Hazelnut and Cadbury Dairy Milk Roast Almon

An employee shows a box containing Cadbury Dairy Milk Hazelnut and Cadbury Dairy Milk Roast Almond, to be return in a shop in Shah Alam, outside Kuala Lumpur.Reuters



The Department of Islamic Development Malaysia or Jakim said after conducting new tests on two chocolate products made by Cadbury Malaysia that they do not contain pork DNA.


Sparking widespread protests from the Muslim community, the country's health ministry earlier said its tests found pork traces in Cadbury products, Cadbury Dairy Milk Hazelnut and Cadbury Dairy Milk Roast Almond.


Subsequently, Cadbury Malaysia, a part of Mondelez International, recalled the products.


Jakim noted that none of the 11 samples it tested of the two products under question from the company's factory had shown positive results. Jakim is the government body in charge of halal certification in Malaysia, and its certification is widely recognized in Muslim communities around the world.


Nevertheless, Jakim said Cadbury's halal certification for the two products would remain suspended, as it requires further tests and investigations of the company's supply chain to ensure safety.


Datuk Seri Jamil Khir Baharom, the minister in charge of Islamic religious affairs, said that the tests conducted by the health ministry could have been faulty as the samples were not brought in directly from Cadbury's factory.


US Food giant Kraft acquired UK confectioner Cadbury in 2010 in a $19bn (£11.4bn, €13.9bn) deal, and subsequently spun off its North American grocery business as Kraft Foods Group. All other food brands that are not included in the spin-off are owned by Mondelez.


Following the news about pork DNA in Cadbury chocolates, Muslim retail and consumer groups in Malaysia have called for boycotting all products made by Cadbury and its US owner Kraft. In Malaysia, more than 60% of the population are Muslims who are prohibited from eating pork under Islam's dietary restrictions.


Certain Muslim groups have declared "jihad" or holy war on Cadbury, following the revelations.


In response, Cadbury Malaysia said it understands consumers' distress and is undertaking a full review of its supply chain to ensure that its food products meet halal standards.