Mosul Siege: Islamic Militants Parade Captured US-Supplied Humvees in Syria


ISIS Syria Iraq

Isis commander Umar al Shishani appears thrilled with a captured US Humvee.Twitter / @jenanmoussa



Islamic State of Iraq and Levant (Isis) insurgents are transporting US-supplied Humvees across the border into war-torn Syria after capturing Iraq's second city of Mosul.


Militants were seen riding in the vehicles around Mosul and other areas under their control but photos have emerged on social media outlets of the military vehicles being inspected by senior Isis commander Umar al Shishani in Syria.


Shishani, who was born in Georgia and acts as commander of the northen sector of Isis in Syria, is considered one of the most influential leaders of the Syrian opposition after a series of assaults on military bases near Aleppo.


ISIS Iraq Syria

Twitter / @Bridget_PJM



The US State Department has released a statement saying that it is "deeply concerned" by the Islamist militants' siege of Mosul.


"The situation remains extremely serious. Senior U.S. officials in both Washington and Baghdad are tracking events closely in coordination with the Government of Iraq," the statement read.


"The United States stands with the Iraqi people," it continued.


ISIS Iraq Syria

Twitter / @jenanmoussa



The capture of Mosul occurred after an overnight assault by hundreds of Islamic State in Iraq and the Levant (Isis) jihadists, bearing rocket-propelled grenades, sniper rifles and machine guns, on key local government, police and military headquarters.


The militants freed up to 1,000 inmates from Mosul's central prison, according to senior police officials. The group are now in control of Mosul airport and local television stations.


Isis Syria Iraq

Twitter / @jenanmoussa



Iraqi Prime Minister Nouri al-Maliki has called on Iraq's parliament to adopt martial law across Iraq after a televised speech where he said "Iraq is undergoing a difficult stage" and that insurgents had captured "vital areas in Mosul".


He urged the public and government to unite "to confront this vicious attack, which will spare no Iraqi."



Why Saudi Arabia is Meddling With Egypt


Egypt Sisi President

People ride a bus with letters spelling "EGYPT CC" as Egyptians celebrate after the swearing-in ceremony of President elect Abdel Fattah al-Sisi.(Reuters)



Saudi Arabia's King has been gushing about Egypt's new President like an over-proud parent at a sports day.


Before the official election results had been announced, but with the final result beyond reasonable doubt, King Abdullah showered praise on Egypt's next president (and former head of the armed forces,) Abdel Fattah al-Sisi.


Sisi's victory was an "historic day and a new state for Egypt" he fawned, calling on the international community to unite for a donor conference, where they could pledge money to Egypt's third president in less than four years.


When it comes to Egypt, King Abdullah has already put his money where his mouth is. After the country's first elected Islamist president, Mohamed Morsi, was ousted in a military coup in July 2013, the Saudis showed their appreciation by opening their wallets.


As the newly empowered army cracked down violently on the Muslim Brotherhood, the West threatened to withdraw support for its leader, Abdel Fattah al-Sisi. Meanwhile, Saudi Arabia cheered the army on and offered to make up any shortfall in Western aid donations. Within a week of the coup, King Abdullah announced an aid package of $12bn (£7.1bn, €8.8bn,) with $5bn from the Saudis and the rest coming from the UAE and Kuwait.


Fast forward to June 2014 and the Gulf States have allied once more to celebrate Sisi's ascent to the presidency. Saudi Arabia and the United Arab Emirates are lining up a $20bn aid package, according to reports in the Egyptian media. The sum would dwarf the annual economic and military grants Egypt received from the US and the European Union, ($1.5bn and $1.3bn respectively) before the 2013 coup.


Following three years of political upheaval, the Egyptian economy is growing at its slowest pace in two decades and in desperate need of stimulus and reform. Amid the perpetual disorder and violence, tourists and investors have fled the country at an equally rapid pace.


In overhauling its ailing economy, which has provided the backdrop for the overthrowing of two presidents in less than three years, Egypt's new president faces a momentous task.


Sisi swept to the presidency on the power of his personality alone. Aside from vague pledges to boost Egypt's poor and attempts to re-start aid contracts from the United States, he has not offered a vision of national prosperity or economic reform.


The country's public finances are sagging under the weight of huge subsidies on energy products and bread. The interim government made some small concessions, hiking the cost of electricity for the richest Egyptians and introducing a smart card system to ration the limit the purchase of bread in suburban Cairo.


In a bid to keep that momentum going, Sisi's kept the interim Prime Minister, Ibrahim Mehleb, in post and is expected to re-appoint other key figures from the interim leadership to his government.


The other major concern for the new administration is the country's depleted foreign exchange reserves. At the end of May, the central bank held $17.3bn in foreign currency. The figure is well above the 2013 low of $13.5bn, when the Gulf States flung aid dollars at Egypt after the coup. Regardless, it remains less than the half the $36bn that Egypt had in reserve before Hosni Mubarak was toppled in 2011.


The state news agency reported that one of Sisi's first meetings after starting his new job was to meet with the central bank governor Hisham Ramez, to discuss ways to improve foreign currency reserves. While the two men addressed long run strategy, the short term deficiency is likely to be made up by the Saudis, Kuwaitis and the Emiratis.


The trio of benefactors were not always this keen to share their vast resources with Egypt. When the economy was in a seemingly terminal slump, they failed to offer Morsi the sort of aid they are putting up now.


Egypt, the Arab world's most populous nation, is seen as a regional leader in politics and society. The power struggles between the people, the army and the Muslim Brotherhood have played out for decades and the state of that battle influences the whole of the Middle East.


When a Brotherhood man won the presidency in the 2012 elections, it put the organisation at the forefront of what seemed like a wave of progressive democracy, washing over the region. Political Islam appeared to be in the ascendancy, not just in Egypt, but in other countries that had overthrown dictators, like Tunisia and Libya. The Saudis, along with its Gulf allies, were horrified – they view the Brotherhood as an existential threat.


No wonder they feel like celebrating. With Morsi and the Brotherhood ousted and criminalised, and a former military chief triumphant in the presidential vote, power is firmly back with the armed forces. The sense of relief will be palpable in the palaces of Riyadh and the royal family is willing to spend whatever it takes to keep it that way.



Global Private Wealth Rockets to more than £121tn


Private wealth around the globe has reached $152m as the number of millionaires skyrockets.

Private wealth around the globe has reached £121tn as the number of millionaires shot upReuters



The number of millionaires around the globe has skyrocketed as total private household wealth reaches $152tn (£121tn).


Private wealth jumped by 15% from $90tn (€66.5tn, £53.7tn) last year, according to a report from the Boston Consulting Group, whilst the total amount of households around the world which surpassed the $1m mark surged from 13.7 million in 2012 to 16.3 million in 2013.


The study says that the confidence that has been placed back in the stock markets is one of the main reasons behind the rise.


"In nearly all countries, the growth of private wealth was driven by the strong rebound in equity markets that began in the second-half of 2012," the report read.


Global wealth was also boosted by strengthening economies in the Asia pacific region, particularly China where private wealth rose by 49%.


China is the world's fastest growing economy and the report estimates that China will overtake Europe eventually with predictions that its private wealth will rise to almost $61tn by the end of 2018, placing it behind the United States.


"At this pace, the region is expected to overtake Western Europe as the second-wealthiest region in 2014, and North America as the wealthiest in 2018," the report continued.


For now, North America remains the strongest region, although its growth rate is dwarfed by that of China as it grew by 15.6% to $50.3tn.


It was a case of slow and steady for Western Europe as collective wealth reached $37.9tn – an increase of 5.2%.


"This performance was spurred by relative economic stability in Europe and the US and signs of recovery in some European countries, such as Ireland, Spain and Portugal," added BCG.



Brazil 2014: 50 Amazing Facts About the World Cup [Infograph]


world cup

Youngsters play football in front of a mural of player Lionel Messi, Neymar and Christiano Ronaldo at a field in a in Rio de Janeiro favela.(Getty)



This Thursday (21 June) sees the start of the 2014 World Cup, the biggest football competition on the planet held in a country synonymous with the game – Brazil.


As the tension and anticipation mounts before the host nation kicks off against Croatia, fans will be asking themselves just which country will lift the converted trophy this year, who will be the stand-out player of the tournament and, more importantly, will England even progress past the group stages?


Before the first ball is kicked, IB Times UK has collected 50 amazing facts about the World Cup to add to your footballing knowledge, including who scored the fastest ever goal in the competition to how many litlres of beer was sold inside the4 stadiums of the last World Cup in South Africa (Clue: a lot).



Mosul Seized by al Qaeda: Latest Photos of Desperate Iraqis Fleeing Islamic Militants


Thousands of people are fleeing Mosul after Islamic militants overran parts of Iraq's second-largest city. Militants from the breakaway al-Qaeda group, the Islamic State of Iraq and the Levant (ISIL) and Iraqi troops have been fighting for days in Mosul.


Insurgents armed with machine guns and rocket-propelled grenade launchers stormed the provincial headquarters building, overpowering guards in a short firefight, according to Ali Mahmoud, the media official for Nineveh province.


families

Families fleeing violence in Mosul, capital of the northern Nineveh province, gather at a checkpoint.AFP



On Monday night and into Tuesday, the government forces in the city appeared to collapse. Prime Minister Nouri al-Maliki has declared a state of emergency.


Regaining Mosul poses a daunting challenge for al-Maliki. The city has a Sunni Muslim majority and many in the community are already deeply embittered against his Shiite-led government. During the nearly nine-year American presence in the country, Mosul was a major stronghold for al-Qaida. US and Iraqi forces carried out repeated offensives there, regaining a semblance of control but never routing the insurgents entirely.



Burning Iraqi security force vehicles are seen during clashes in the northern Iraq city of Mosul.

Burning Iraqi security force vehicles are seen during clashes in the northern Iraq city of Mosul.Reuters



Iraqi soldiers are shipped north from Najaf to Mosul.

Iraqi soldiers are shipped north from Najaf to Mosul.AFP



An elderly man fleeing the violence is assisted at a checkpoint on the outskirts of Arbil, in Iraq's Kurdistan region.

An elderly man fleeing the violence is assisted at a checkpoint on the outskirts of Arbil, in Iraq's Kurdistan region.Reuters



Iraqis fleeing violence in Nineveh province wait in their vehicles at a checkpoint in Aski kalak after suspected jihadists seized the province and its capital Mosul.

Iraqis fleeing violence in Nineveh province wait in their vehicles at a checkpoint in Aski kalak after suspected jihadists seized the province and its capital Mosul.AFP



A mother holds her child as families fleeing the violence in the Iraqi city of Mosul wait at a checkpoint.

A mother holds her child as families fleeing the violence in the Iraqi city of Mosul wait at a checkpoint.Reuters



Iraqi families fleeing violence in the northern Nineveh province gather at a checkpoint in the autonomous Kurdistan region.

Iraqi families fleeing violence in the northern Nineveh province gather at a checkpoint in the autonomous Kurdistan region.AFP



A woman with a walking stick flees the violence in the Iraqi city of Mosul.

A woman with a walking stick flees the violence in the Iraqi city of Mosul.Reuters



A man, who was injured during a suicide bomber attack in Mwafaqiya village near Mosul, lies in a hospital bed in Arbil, the capital of the autonomous Kurdistan region.

A man, who was injured during a suicide bomber attack in Mwafaqiya village near Mosul, lies in a hospital bed in Arbil, the capital of the autonomous Kurdistan region.Reuters



A wounded Iraqi man lies on a bed at a hospital in Arbil, capital of the autonomous Kurdish region of northern Iraq, following two suicide bombings in a village to the east of Mosul.

A wounded Iraqi man lies on a bed at a hospital in Arbil, capital of the autonomous Kurdish region of northern Iraq, following two suicide bombings in a village to the east of Mosul.AFP




ISIL, which was once al-Qaida's branch in Iraq, was thrown out of the terrorist network after it expanded its operations in Syria against the orders of al-Qaida leader Ayman al-Zawahiri. It is considered one of the most ruthless rebel forces fighting to topple President Bashar Assad in Syria, where it has in seized a major city in the east and other territory.


In Iraq, the group rose up earlier this year to take over Fallujah and parts of the nearby city of Ramadi, the capital of Anbar province. It has also been carrying out a campaign of bombings and other violence in Baghdad and other parts of the country.




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Israel: Human Rights Watch 'War Crimes' Report is 'Beyond-Bias'


Israeli soldier West Bank

A Palestinian protester argues with an Israeli soldier during a protest marking the 66th anniversary of Nakba, in the West Bank village of El Walaja near Bethlehem(Reuters)



Israel has accused a rights group of being "beyond-bias" for a report in which it claimed the shooting and killing of two Palestinian teen protesters on Nakba Day in the occupied West Bank constituted a war crime.


Human Rights Watch (HRW) said Nadeem Siam Nawara, 17, and Mohammad Mahmoud Odeh, 16, "posed no imminent threat to the forces at the time" they were shot with what appeared to be live ammunition.


A footage released by Israeli NGO B'Tselem showed the pair being shot in the chest and back respectively by Israel Defence Force (IDF) soldiers at the protest near Ofer Prison in Beitunia.


In the report, entitled: "Killing of Children Apparent War Crime", HRW says the "willful killing of civilians by Israeli security forces as part of the occupation is a war crime".


But Yigal Palmor, foreign ministry spokesperson, rebutted the accusation in a statement released to IBTimes UK.


"HRW has lost all its credibility on Israel, since a few years ago when it collected Saudi money with the confessed intention of writing incriminating reports on Israel with it," he said.


"Nobody has taken HRW's reports on Israel seriously since that time and in the latest occurrence of a beyond-bias report, they are making yet again a far-fetched claim based on zero evidence."


"An investigation is still ongoing and its very hard to establish where the shots came from and it's not clear at all whether Israeli soldiers fired any live ammunition at all. But obviously HRW knows best, as always, and they have the evidence to incriminate Israel."


Nakba Day, otherwise known as the Day of Catastrophe, relates to the creation of the state of Israel in 1948, after which 90% of the 1.4 million Palestinians - living on the land that is today called Israel - fled or were forced into exile, according to the Palestinian Central Bureau of Statistics (PCBS) in Ramallah.


Israel's defence minister Moshe Ya'alon, who said he had not yet seen the video, claimed the footage had been manipulated with editing techniques.


He claimed that the Nakba Day protest was "violent, during which Molotov cocktails and stones were thrown at border police officers who felt that their life was threatened, and acted accordingly".



The Fickle Nature of Trade Sanctions


George Brandis

Australia's attorney-general George Brandis' comments have left Australia open to the threat of sanctions.Getty Images



It would be possible to write a piece exposing the fickle nature of international trade sanctions on a weekly basis.


However, it seems pertinent to take periodical stock, particularly when sanctions are all over the news.


For the most part, they remain an important tool in international diplomacy.


Yesterday in New York, the UN Security Council voted to extend the mandate of its panel of experts chosen to monitor Iran's nuclear behaviour until July 2015. It was scything financial sector sanctions which brought Iran to the table in the first place.


At the same time in Brussels, trilateral talks between the EU, Russia and Ukraine were ongoing in an effort to thrash out a gas deal that would appease the European sanctions wielding regime.


Often, though, since sanctions are the simplest tool at diplomats' disposal they tend to be the go-to measure when one side feels scorned, even by actions that reflect the views of an individual, rather than a state at large.


In this day and age, loose lips are more likely to halt biz than sink ships.


A couple of weeks after it ended a 40-year boycott on the export of live animals to Iran, Australia's government found itself under the threat of being sanctioned by Arab states.


After attorney-general George Brandis unwisely said that East Jerusalem is "not occupied" by Israeli troops, he was warned by Palestinian authorities that Arab states are ready to unite in banning the import of Australian meat.


"The description of east Jerusalem as 'occupied east Jerusalem' is a term freighted with pejorative implications, which is neither appropriate nor useful," Brandis told the Senate.


The Arab League is to hold an emergency meeting this month to come to a decision, with Palestine's spokesperson Xavier Abu Eid saying: "With its shameful statements against international law, the Australian government has become part of the problem rather than part of the solution."


Meanwhile, the Dutch government has spent the past six months kowtowing to the Saudi regime, after notorious right-winger Geert Wilders, of the Dutch Freedom Party, distributed anti-Islamic stickers in the colours of the Saudi flag during an electoral campaign.


The stickers carried an inflammatory anti-Islamic symbol in place of the Islamic creed, which read: "Islam is a lie, Muhammad is a criminal, the Koran is poison."


In response, the Council of Saudi Chambers said its government had banned it from taking orders from Dutch companies. Amsterdam despatched foreign minister Frans Timmermans to the Gulf to pick up the pieces.


Let's reflect on this for a moment: the Netherlands was sanctioned after a rogue, exhibitionist politician known for his racist views staged a huge publicity stunt. Wilders is not a member nor a representative of the Dutch government. Yet the Saudi government threw their toys out of the pram, regardless.


This is the same Saudi government which, to quote Human Rights Watch "continue to suppress or fail to protect the rights of 9 million Saudi women and girls and 9 million foreign workers".


The same Saudi government which requires women to show signed permission from a male relative before they travel within their own country. The same Saudi government that only outlawed domestic violence in 2013.


The Unsanctioned


Too often, governments are afraid to use sanctions where they might actually make a difference.


A look at the balance sheets of the Export-Import Bank of the United States (US Exim) and UK Export Finance, the export guarantors of two of the world's most trigger happy sanctioneers shows the imbalance with which the system is plagued.


The US refuses to trade with Cuba after designating it a "state sponsor of terrorism". In recently published memoirs, even former Secretary of State Hillary Clinton criticised the embargo, saying it "does not serve any United States interests or promote governmental change on the communist island".


But yet the US openly trades with and lends money to some of the world's most notorious dictators.


US Exim's 2013 accounts show that in 2012, it issued $90,000 in insurance schemes to the state of Uganda, where homosexuality is punishable with death.


Commercial bank loans to Kazakhstan, which hasn't held an election that has met international standards since its independence, were guaranteed by US Exim to the tune of $227mn in 2012.


Human Rights Watch has called on "Kuwaiti authorities to drop all charges and not contest the appeal of a prisoner with mental disabilities who was convicted of insulting the emir. Muhammad Eid Abdulmohsen al-Mekhial, 39, is serving a five-year sentence for insulting the emir, Islam, and Interior Ministry staff".


Yet in 2012, US Exim authorised $323,472,500 worth of export support to the state.


The UK's edition fares slightly better by virtue of its relative activity. But it too boasts some howlers.


In 2012, it sanctioned £1.8mn in export support to an Azeri company, despite Azerbaijan routinely imprisoning citizens for protesting against its government.


Amnesty International reports that in Gambia last year, three prisoners were executed "without exhaustion of their legal appeals". No problem for UKEF, which guaranteed consultancy exports to the country, valued at £277,970.


The list goes on, and the US and UK are by no means the only offenders, merely some of the most transparent.


Sanctions are an important tool in international relations, but until the system with which they are deployed is more consistent, they will always be greeted with apathy.



Israel: Right-Wing Hawk Reuven Rivlin Elected New President


Reuven Rivlin Israel President

Reuven Rivlin, a veteran member of Prime Minister Benjamin Netanyahu's rightwing Likud party, has been elected Israel's president.GALI TIBBON/AFP/Getty Images



Reuven Rivlin, a fierce opponent of a Palestinian state, has been voted Israel's 10th president by the country's parliament or Knesset.


The veteran lawmaker with Prime Minister Benjamin Netanyahu's right-wing ruling Likud party beat his rival Meir Sheetrit 63 to 53 in a runoff vote.


Rivlin, 74, will be ceremoniously sworn in as president at the end of July.


He is to replace outgoing Shimon Peres, 90, a Nobel Peace Prize laureate who brought the position international prestige.


If Peres has been an outspoken proponent of peace with the Palestinians; Rivlin, a popular former parliament speaker, has opposed a two state solution to the conflict and is a strong backer of Jewish settlements in East Jerusalem and the West Bank.


"I have gone through many steps. Today this is a very central one where I can end one path and start an additional one," Rivlin told Army Radio, ahead of the vote.


More to follow.



China: Qingdao Police Probe Decheng Mining Over Port Fraud Claims


Qingdao port

Metals are seen being transported at Qingdao port, Shandong province.(Reuters)



Police are investigating a private metals trader, Decheng Mining, over a suspected metal financing scam at the Qingdao port in Shandong province, China.


The probe taking place at the world's seventh-biggest port is looking into whether single metal cargoes were used multiple times in order to secure financing.


The Qingdao port authority and the local police are investigating Decheng, according to Reuters, who cited a police officer involved in the case.


"Decheng is under investigation for its financing activities at Qingdao port," the police officer told Reuters. A second officer told the news agency that the company was being investigated over fraud claims.


The probe has hit metal prices, sparking fears of a crackdown on the use of metals as collateral for finance.


Qingdao-based Decheng Mining is part of Dezheng Resources Holdings, chaired by the Singaporean Chen Jihong.


Singapore's Ministry of Foreign Affairs (MFA) told Reuters it was aware of the situation but did not say whether Chen had been detained.


"MFA is aware of the case and is rendering consular assistance to Mr Chen and his family," an MFA spokesman said.


The investigation into alleged fraud at the port has prompted companies including Citic Resources, Standard Bank and GKE Corp to issue warnings that they may be affected. Shares in Citic Resources slid 8% on the back of their statement.


Meanwhile, the Wall Street Journal reported some Western banks are concerned over the possibility of a fraud case at another Chinese port.


Penglai port in Shandong province is the second port in question, the newspaper said.



Brazil World Cup 2014: Security Costs Five Times as Much as South Africa


Brazil has spent £498m on security for the 2014 World Cup – more than five times the amount South Africa spent on security for the last World Cup. Over 170,000 security officers will be available to patrol the 12 stadiums hosting World Cup. Helicopters, drones, and surveillance equipment will also be used.


The Brazilian government is promising that "the World Cup in Brazil will be the safest ever" despite continuing protests.



A member of the Brazilian army goes through a decontamination procedure during a simulated chemical and radiological attack exercise at the Mane Garrincha National Stadium in Brasilia

A member of the Brazilian army goes through a decontamination procedure during a simulated chemical and radiological attack exercise at the Mane Garrincha National Stadium in BrasiliaReuters



A Brazilian army officer wearing a gas mask takes part in a simulated chemical and radiological attack exercise at the Mane Garrincha National Stadium in Brasilia

A Brazilian army officer wearing a gas mask takes part in a simulated chemical and radiological attack exercise at the Mane Garrincha National Stadium in BrasiliaReuters



Paramilitary police personnel wearing protective suits decontaminate 'victims' during a drill to deal with a chemical weapon attack in Sao Paulo

Paramilitary police personnel wearing protective suits decontaminate 'victims' during a drill to deal with a chemical weapon attack in Sao PauloAFP



A boy wrapped in Brazilian national flag stands in front of policemen during a protest by metro workers in Sao Paulo

A boy wrapped in Brazilian national flag stands in front of policemen during a protest by metro workers in Sao PauloReuters



Civil defence personnel help a 'victim' of a simulated explosion of a radioactive device in a subway car at Cidade Nova subway station in Rio de Janeiro

Civil defence personnel help a 'victim' of a simulated explosion of a radioactive device in a subway car at Cidade Nova subway station in Rio de JaneiroAFP



England's Steven Gerrard walks past Brazilian army personnel as he arrives at the team hotel in Rio de Janeiro

England's Steven Gerrard walks past Brazilian army personnel as he arrives at the team hotel in Rio de JaneiroReuters



Security personnel shelter from the sun in the shadow of the stadium wall as they watch the Netherlands team training session at the Estadio Jose Bastos Padilha Gavea in Rio de Janeiro

Security personnel shelter from the sun in the shadow of the stadium wall as they watch the Netherlands team training session at the Estadio Jose Bastos Padilha Gavea in Rio de JaneiroGetty



Police officers patrol a football field atop the Arvore Seca favela in the Lins slum complex in Rio de Janeiro

Police officers patrol a football field atop the Arvore Seca favela in the Lins slum complex in Rio de JaneiroReuters



A policeman observes a screen displaying the Maracana stadium at the security centre for the 2014 World Cup in Rio de Janeiro

A policeman observes a screen displaying the Maracana stadium at the security centre for the 2014 World Cup in Rio de JaneiroReuters



A sniper aims his rifle towards Rocinha slum in Rio de Janeiro

A sniper aims his rifle towards Rocinha slum in Rio de JaneiroReuters



The Brazilian Navy carries out an anti-terrorist drill in Rio de Janeiro as part of the security measures for the World Cup

The Brazilian Navy carries out an anti-terrorist drill in Rio de Janeiro as part of the security measures for the World CupAFP



Police officers wearing riot gear attend a presentation of security equipment at Flamengo beach in Rio de Janeiro

Police officers wearing riot gear attend a presentation of security equipment at Flamengo beach in Rio de JaneiroAFP



Riot police practise crowd control during a training session with FBI agents in Rio de Janeiro

Riot police practise crowd control during a training session with FBI agents in Rio de JaneiroReuters



A young boy gives a thumbs-up as police patrol near the Antonio Carlos Magalhaes municipal stadium in Porto Seguro

A young boy gives a thumbs-up as police patrol near the Antonio Carlos Magalhaes municipal stadium in Porto SeguroAFP



Riot police patrol the Santinho beach in Florianopolis, Santa Catarina state

Riot police patrol the Santinho beach in Florianopolis, Santa Catarina stateReuters



Members of the Brazilian Army, Navy and Air Force attend a presentation of security equipment that will be used during the 2014 World Cup

Members of the Brazilian Army, Navy and Air Force attend a presentation of security equipment that will be used during the 2014 World CupReuters



A volunteer is decontaminated during a simulated chemical attack outside Mane Garrincha National Stadium in Brasilia

A volunteer is decontaminated during a simulated chemical attack outside Mane Garrincha National Stadium in BrasiliaAFP



Members of the Brazilian armed forces on horseback salute during a presentation of security equipment that will be used during the 2014 World Cup in Brasilia

Members of the Brazilian armed forces on horseback salute during a presentation of security equipment that will be used during the 2014 World Cup in BrasiliaReuters



Police use tear gas to impede indigenous Brazilians from marching towards the Mane Garrincha stadium in Brasilia

Police use tear gas to impede indigenous Brazilians from marching towards the Mane Garrincha stadium in BrasiliaReuters



Police officers from several countries participate in the inauguration of the Centre for International Police Cooperation in Brasilia

Police officers from several countries participate in the inauguration of the Centre for International Police Cooperation in BrasiliaReuters



Brazilian Army soldiers take part in a simulated explosion of a radioactive device at Mane Garrincha National Stadium in Brasilia

Brazilian Army soldiers take part in a simulated explosion of a radioactive device at Mane Garrincha National Stadium in BrasiliaAFP






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Brent Holds Around $110 as Libya Oil Crisis Endures and Global Demand Picks Up


Oil Refinery Zawiya Libya

Crude oil storage tanks at an oil refinery in Zawia, 55km west of Tripoli, Libya.Reuters



Brent Crude held around $110 per barrel on Tuesday as demand picked up in the United States and China and the Libyan oil crisis showed no sign of abating.


Oil exports from Libya have all but halted in recent months against the backdrop of political upheaval. Armed groups are in control of some production and export facilities in the country's east, while the government has accused a retired army general of launching a coup in the eastern city of Benghazi.


The North African country is currently exporting a tiny fraction of its 1.4m bpd capacity.


Supply remains tight as turmoil affects a number of oil producers, including Iran and Iraq.


Brent surged 1.3% on Monday and held on to most of the gains on Tuesday, holding at $109.79 a barrel on at 0855 GMT. It was Brent's biggest daily surge in almost two months.


Meanwhile, oil demand is resurging as the global economy emerges from a period of low growth.


Oil was boosted by the Chinese central bank decision to cut the level of reserves that that banks must hold against loans to small and medium sized businesses.


Ric Spooner, chief market analyst at CMC Markets, told Reuters that global demand is likely to push oil prices higher.


"We are at a critical little juncture for oil markets, with both benchmarks trying to push above key trendline resistance. People are getting confident about the global demand outlook," he said.


The Organisation of the Petroleum Exporting Countries (OPEC) will meet on Wednesday to set oil production targets. The group is expected to maintain its output goal at 30m bpd.



India: Narendra Modi Magic Pushes Stock Market Capitalisation Beyond $1.5tn


India: Narendra Modi Magic Pushes Stock Market Cap Beyond $1.5tn

India's Prime Minister Narendra Modi.Reuters



The market capitalisation of India's publicly listed companies crossed $1.5tn on 9 June, with billions of dollars finding their way into India following Prime Minister Narendra Modi's decisive election victory on 16 May.


At $1.52tn (£904bn, €1.12tn) as of 9 June's close, the market value of the National Stock Exchange (NSE) and the smaller Bombay Stock Exchange (BSE) makes India the second largest among emerging markets in Asia -- ahead of South Korea but below the market cap of $2.4tn for Shanghai-listed shares, according to Thomson Reuters data.


Indian stock markets have been logging record highs since 12 May, 2014.


However, India's market capitalisation remains below a peak average of $1.82tn hit in December 2007, according to BSE data.


Robust foreign buying has pushed the S&P BSE Sensex share average and the broader Nifty up by over 11% since 12 May, far outperforming the 3.9% gain in the MSCI Asia-Pacific index excluding Japan.


State-run companies, in desperate need of reform, have rallied the most, with the CNX Public Sector Enterprises Index gaining over 30% since 12 May.


Infrastructure, construction, banking and automobile stocks have also benefited from the Modi mania.


PNC Financial Services said in a 6 June report: "A close reading of the [Modi-led Bharatiya Janata Party's] Policy Manifesto shows that high expectations for a sudden turnaround, reflected in the Sensex's 30% rally from August 2013 to May 2014, may be too optimistic.


"Some BJP policy proposals look promising but very difficult to implement: controlling corruption, reforming creaky food and energy monopolies, and fast-tracking infrastructure investments that stalled under the outgoing government.


"Other reform proposals seem potentially counter-productive: protecting India's retail industry from foreign competition, increasing subsidies for agriculture, and combating inflation with price controls and penalties against 'hoarding and black marketing,' the same policies that failed to control inflation in the US in the 1970s."


"BJP reforms seem unlikely to raise real GDP growth back to the 7-8 percent range that India achieved before the global financial crisis. But at the very least, the BJP should be able to cut India's fiscal deficit, helping to tame inflation and make the economy less dependent on foreign capital inflows," PNC economists added.


Foreign investors have pumped in a net $8.55bn into Indian equities this year, with $3.31bn entering the subcontinent since early May.



Nigerian Actor Femi Ogedengbe Pilloried for Naming His Twins Hollywood and Nollywood


Femi Ogedengbe

Nollywood Actor and Movie Producer, Femi Ogedengbe with his wife and three children



Nigerian actor and producer Femi Ogedengbe has hit out at critics after he faced fierce backlash for calling his newborn twins Hollywood and Nollywood.


The star recently left fans stunned when he announced on Facebook that he had added the unusual monikers to his twins', a boy and a girl, list of names.


He explained it was only right as he owed his fame and riches to the two of the world's biggest film industries.


But some members of the Nigerian community claimed that the father-of-three was trying to be controversial by following in the footsteps of American celebrities and also setting up his children for a bad life by naming them after industries synonymous with immorality.


"When the children grow up they will answer Nolly n Holly. Forget about d wood. When he get another set of twin will he name them Boko n Haram .. or Iran n Iraq" one unimpressed fan said.


Another wrote: "Those kids will hate dose (sic) names eventually nd change it themselves, thr peers will always laugh at dem, so save dem d shame nd change d name nw Dats not too late."


But Ogedengbe, who has appeared on dozens of Nollywood movies, insisted that he was entitled to give his children whatever name he saw fit.


In a message on Facebook, he also told critcs that they should be focusing their energy on Nigeria's real problems.


"The level of hypocrisy in Nigeria is just too high or how do I explain the attack I and my wife have received on different blogs for adding Nollywood & HOLLYWOOD among the names we gave our bundles of Joy," he wrote.


"I guess all those who condemned us have been so blinded by Hatred that they couldn't see all other names but the HOLLYWOOD and Nollywood. Anyway, thanks for noticing me, my wife and our children, but What is really bad in those two names?


He went on to insist that without his film career he would have been dead on the streets or in prison.


"Thanks to Nollywood, I am now Femi Ogedengbe! It is a pity that people will seat in the comfort of their homes, hide behind the freedom that such platform as Facebook and all other social network provide to judge the logic behind the actions of people they don't know."



Iraq Warns of 'Severe Measures' After Second Kurd Oil Tanker Sets Sail


Ceyhan oil worker

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



The dispute over Kurdish oil exports has escalated further after Baghdad has threatened to take its case against Erbil to the United Nations.


Iraq's oil minister Abdul Kareem Luaibi has said sales of Kurdish oil, facilitated by Turkey, are in breach of UN resolutions and threaten trading links between Ankara and Baghdad.


"What happened in my view was the biggest mistake that has been made by the Kurds and the Turks...and the Iraqi government will take severe measures," he told reporters in Vienna, ahead of an Organization of the Petroleum Exporting Countries (OPEC) meeting.


The Kurdistan Regional Government (KRG) has loaded two oil tankers at the Turkish port city of Ceyhan, each containing 1 million barrels of Kuridsh crude oil. Both the tankers set sail in a bid to sell the cargo but there is, as yet, no buyer for the oil.


Iraq has warned the international community that only the central government has the right to sell oil on international markets and that any purchases of Kurdish oil without Baghdad's consent would provoke a legal dispute.


Luaibi said Baghdad would sue the Turkish government and the Turkish pipeline operator Botas for its role in the sale of the crude.


"We have no choice but to go to arbitration and they (Turkish government) have been informed," Luaibi said.


Erbil says it has the right to sell oil independently of Baghdad while Baghdad says the KRG is "smuggling" oil out of the country.


The long-running dispute escalated in May when the Kurds loaded the United Leadership oil tanker, a move the KRG said was designed to show Baghdad it had control over oil sales.


The KRG had said it expected a buyer in Italy or Germany to purchase the first shipment. However, Italy warned traders, threatening legal action if they bought the crude, following talks with Baghdad.


The tanker was stationed around 30 miles off the coast of Morocco on Monday, according to Reuters.


A second tanker, the United Emblem, departed the Ceyhan port on Monday, Reuters reported. Its destination remains unknown.



Russian Companies to De-Dollarise International Trade Amid Western Sanctions


100 Yuan Bank Note China

100 Yuan bank notes.Reuters



Russian companies will start settling international trade in Asian currencies especially the yuan, as they look to reduce dependence on the US dollar amid rising western sanctions.


"Over the last few weeks there has been a significant interest in the market from large Russian corporations to start using various products in renminbi and other Asian currencies and to set up accounts in Asian locations," Pavel Teplukhin, head of Deutsche Bank in Russia, told the Financial Times.


In addition to the Chinese yuan, Russian companies are preparing to diversify trade accounts to other Asian currencies such as the Hong Kong dollar and Singapore dollar.


VTB, Russia's second largest bank, is one of the frontrunners and is looking to increase the number of non-dollar settlements, according to its president Andrey Kostin.


"Given the amount of bilateral trade volume with China, of course, we are working on the expansion of settlement in roubles and yuan," Kostin said.


"There is nothing wrong with Russia trying to reduce its dependency on the dollar, actually it is an entirely reasonable thing to do," FT quoted as saying the Russia head of another large European bank.


"There is no reason why you have to settle trade you do with Japan in dollars."


Some politicians have earlier suggested that Moscow respond to western sanctions by entirely "de-dollarising" its economy.


Russia's relations with the West have strained after it annexed former Ukrainian territory Crimea in March. The US has imposed a number of sanctions on Russia that hurt the country's economy. The US and European lending and investment activities in Russia have come down significantly.


Russia has been trying to bolster its economic relations with Asian countries in order to prevent a setback to the economy.


Earlier, Russia's biggest gas producer, Gazprom, inked a $400bn gas deal with China.


In addition, Russia agreed with China to establish a rating agency on joint projects, replacing "biased" agencies such as Fitch, Moody's and Standard & Poor's.


Russia's central bank is working to create a national payment system to reduce the country's dependence on western companies such as Visa and MasterCard. Visa has earlier denied its service at a number of Russian banks.



Hot Shots Photos of the Day: Obama Hug, Germany Weather, Panda Handshake


Stefanie Dolson falls off the stage as US President Barack Obama hugs University of Connecticut women's basketball coach Geno Auriemma during a ceremony honouring the NCAA basketball champions in the East Room of the White House in Washington.

Stefanie Dolson falls off the stage as US President Barack Obama hugs University of Connecticut women's basketball coach Geno Auriemma during a ceremony honouring the NCAA basketball champions in the East Room of the White House in Washington.Reuters



Cheri Rasmussen prays with Metro Police Lt. Roxanne McDarris in front of CiCi's Pizza during a community vigil for slain Metro Police officers in Las Vegas. Alyn Beck, 41, and Igor Soldo, 31, were ambushed and killed by Amanda and Jerad Miller while they were eating lunch in the restaurant.

Cheri Rasmussen prays with Metro Police Lt. Roxanne McDarris in front of CiCi's Pizza during a community vigil for slain Metro Police officers in Las Vegas. Alyn Beck, 41, and Igor Soldo, 31, were ambushed and killed by Amanda and Jerad Miller while they were eating lunch in the restaurant.Reuters



Free Syrian Army fighters hold their weapons during a call for leaders of other military groups to start liberating the city of Hama from forces loyal to Syria's President Bashar al-Assad

Free Syrian Army fighters hold their weapons during a call for leaders of other military groups to start liberating the city of Hama from forces loyal to Syria's President Bashar al-AssadReuters



Women pray for peace in the eastern Ukrainian city of Luhansk.

Women pray for peace in the eastern Ukrainian city of Luhansk.Reuters



Women react at the site of a car bomb attack in the town of Tuz Khurmato, north of the capital Baghdad, Iraq.

Women react at the site of a car bomb attack in the town of Tuz Khurmato, north of the capital Baghdad, Iraq.Reuters



Supporters of Afghan presidential candidate Ashraf Ghani participate in an election campaign gathering in Kabul.

Supporters of Afghan presidential candidate Ashraf Ghani participate in an election campaign gathering in Kabul.Reuters



Pregnant women practice yoga as they attempt to break the Guinness World Record for the largest prenatal yoga class, in Changsha, Hunan province, China.

Pregnant women practice yoga as they attempt to break the Guinness World Record for the largest prenatal yoga class, in Changsha, Hunan province, China.Reuters



Papier-mache pandas, created by French artist Paulo Grangeon, are displayed at the Tian Tan Buddha on Hong Kong's Lantau Island.

Papier-mache pandas, created by French artist Paulo Grangeon, are displayed at the Tian Tan Buddha on Hong Kong's Lantau Island.Reuters



A giant panda named Hua Ao 'shakes hands' with a keeper across the glass at Yantai Nanshan Park Zoo in Yantai, Shandong Province, China.

A giant panda named Hua Ao 'shakes hands' with a keeper across the glass at Yantai Nanshan Park Zoo in Yantai, Shandong Province, China.Getty



A diver wearing football strip kicks a ball inside a tank at the Coex Aquarium in Seoul to wish the South Korean team success in the World Cup.

A diver wearing football strip kicks a ball inside a tank at the Coex Aquarium in Seoul to wish the South Korean team success in the World Cup.Getty



Iya Traore, a former professional football player, holds on to a lamppost as he performs for visitors in the Montmartre area of Paris.

Iya Traore, a former professional football player, holds on to a lamppost as he performs for visitors in the Montmartre area of Paris.AFP



A Brazilian army officer wearing a gas mask takes part in a simulated chemical and radiological attack exercise at the Mane Garrincha National Stadium in Brasilia.

A Brazilian army officer wearing a gas mask takes part in a simulated chemical and radiological attack exercise at the Mane Garrincha National Stadium in Brasilia.Reuters



A member of the Brazilian army goes through a decontamination procedure during a simulated chemical and radiological attack exercise at the Mane Garrincha National Stadium in Brasilia.

A member of the Brazilian army goes through a decontamination procedure during a simulated chemical and radiological attack exercise at the Mane Garrincha National Stadium in Brasilia.Reuters



Lightning strikes over Sieversdorf, Germany. Violent storms killed at least six people in western Germany overnight, felling trees and snarling road and rail traffic.

Lightning strikes over Sieversdorf, Germany. Violent storms killed at least six people in western Germany overnight, felling trees and snarling road and rail traffic.AFP



Hamish McEwan, 15, paddles his lilo on a flooded playground in Rangiora after heavy rain in New Zealand.

Hamish McEwan, 15, paddles his lilo on a flooded playground in Rangiora after heavy rain in New Zealand.Getty



Jared Waerea-Hargreaves of the Roosters trips up team mate Frank-Paul Nuuausala while running during a Sydney Roosters NRL training session at Kippax Lake.

Jared Waerea-Hargreaves of the Roosters trips up team mate Frank-Paul Nuuausala while running during a Sydney Roosters NRL training session at Kippax Lake.Getty



A man takes a picture of himself standing in flood waters at Wujiaba airport in Kunming, Yunnan province, China

A man takes a picture of himself standing in flood waters at Wujiaba airport in Kunming, Yunnan province, ChinaReuters