Iraq Crisis: Baghdad Fears 'Thousand Osama bin Ladens' Sprouting

Mehdi Army fighters loyal to Shiite cleric Moqtada al-Sadr march during a military-style training in the city of NajafReuters

The Shiite-dominated Iraqi administration has expressed fears that the present crisis orchestrated by the Sunni-led Islamic State of Iraq and the Levant (Isis) in the country could breed a thousand Osama bin Ladens.

In an interview to CNN, the Iraqi ambassador to the US, Lukman Faily, seeking American assistance in the fight against the Islamic militants, said: "What you have in Afghanistan, with one bin Laden – you will have a thousand of them. That's the situation in Iraq."

As the al-Qaeda-inspired Sunni insurgents press ahead seizing key cities in the backdrop of weakening Iraqi forces, the US is mulling airstrikes in the country.

Following the deployment of about 275 American troops on Iraqi soil to secure US interests including the Baghdad embassy, President Barack Obama is believed to be actively considering military action in Iraq. More US vessels have also been sent to the Gulf.

"The president will continue to consult with his national security team in the days to come," said the White House.

The US has also held talks with Iran, a close ally of Iraq's Shiite Prime Minister Nouri al-Maliki, on the sidelines of the ongoing nuclear discussions in Vienna over the Iraqi situation. Washington and Tehran have, however, ruled out any joint military action on Iraq.

"Iran is a great country that can play a key role in restoring stability in Iraq and the region. Military cooperation was not discussed and is not an option," a senior Iranian delegate who was part of the negotiations told Reuters.

Reports also suggest a top Iranian military official, the Quds Force commander General, Ghasem Soleimani, is in Iraq aiding the operations against the Sunni extremists.

Meanwhile, the UN has said it is withdrawing the agency's staff from Baghdad.

North Korean Leader Kim Jong-un Sends Birthday Wishes to Queen

The Queen takes a salute during the Trooping of the Colour (Getty)

North Korean leader Kim Jong-un sent birthday wishes to Queen Elizabeth on her official birthday via the reclusive nation's second-most powerful official.

The chief of the Presidium of the Supreme Assembly of North Korea Kim Yong-nam conveyed the greetings wishing the "British people well-being and prosperity", the official Pyongyang mouthpiece Korean Central News Agency said.

"The message wished the queen good health and happiness and the British people well-being and prosperity," said the KCNA.

The Queen marked her official birthday on 14 June with the usual pomp and pageantry of the Trooping of the Colour ceremony at Buckingham Palace.

Analysts say North Korea, one of the most isolated countries in the world, must be in dire need of help for it to send a message to the British queen.

"North Korea is looking for new friends, while they have also sent officials to London to make money on the stock market and seek development aid," Toshimitsu Shigemura, a professor at Japan's Waseda University and an expert on North Korea, told The Telegraph.

"But there is also real concern in the leadership there that the regime could collapse without China's support, so they are looking for a country that might provide them with political asylum. It is possible that they think Britain might provide that."

Flight MH370: Families Mark 100 Days Since Plane Vanished into Thin Air

A family member of a passenger on board Malaysia Airlines MH370 cries as he shouts slogans during a protestReuters

One hundred days ago, Malaysia Airlines Flight MH370 left Kuala Lumpur for a routine flight to Beijing. It never arrived. All 239 passengers and clue are assumed dead - except by some relatives, who cling to unlikely hopes that the plane was hijacked or flown to a secret military base, and a gigantic cover-up is concealing the truth. It has become the greatest aviation mystery of all time.

Some of the more outlandish claims are that the plane was abducted by aliens, been made invisible and flown to Diego Garcia, or was hijacked by terrorists who are planning to use it at a later date. So far none of the claims have been backed up by anything so mundane as evidence.

On this hundredth day since #MH370 went missing, remembering those on-board & their families. M'sia remains committed to the search effort.

— Mohd Najib Tun Razak (@NajibRazak) June 15, 2014

Based on what little IS known - that the plane's flight path appears to have been towards the southern Indian Ocean - the Australian government is searching a vast expanse of the ocean west of Perth, and estimates it will have spent US$90million (£50million) on the search by 2015. Some of the families of those missing have received compensation payments but most have not received anything because the Malaysian government has not yet declared the plane lost.

“100 days have gone and we continue to feel tortured, helpless, and angry.”

- Jiang Hui, whose mother was aboard MH370

"When we talk about the full payment, we have to wait until we announce the issue on the tragedy MH370 is over," says Malaysian deputy foreign minister Hamzah Zainudin, "Whether the plane is found, whether we announce the plane is lost."

Families no longer receive updates about the search efforts and when they descended on the Beijing offices of Malaysia Airlines were turned away. 41-year-old Jiang Hui, whose mother was on the plane, said: "Almost 100 days have gone and we continue to feel tortured, helpless, and angry. I am over 40 years old and I never knew the true meaning of suffering before. But over these past three months, I now know its meaning."

China: 13 People Executed for Terrorism and Violence in Xinjiang

Paramilitary policemen gesture to stop a photographer from taking pictures as they stand guard after an explosives attack hit Urumqi in the Xinjiang Uighur Autonomous Region of ChinaReuters

Chinese state media has revealed that 13 people have been executed for terrorism and violent crimes in the Xinjiang region.

The 13 who were handed the death sentence were involved in seven separate cases, according to Xinhua news agency.

Elsewhere, a western Chinese court sentenced three people to death for planning a deadly car ramming in Beijing's Tiananmen Square last October, which killed five people.

The region has been beset by a number of violent attacks, which have been blamed on separatist Uighur Muslim groups.

In April, Chinese president Xi Jinping pushed the restive western region to the forefront of Beijing's counter-terrorism efforts.

"The situation is grim and complicated. The local-level police stations are fists and daggers," Xi told police.

"You must have the most effective means to deal with violent terrorists. Sweat more in peacetime to bleed less in wartime," he continued.

Four Puppies Rescued from Yulin Dog Meat Festival in China

Four puppies rescued from being slaughtered.Humane Society International

Four puppies have been rescued from being slaughtered and eaten as part of the Yulin Dog Meat Festival due to take place this weekend.

The four puppies, which will now be rehomed, were saved by activists working for the Humane Society International ahead of the festival in China's Guangxi Zhuang autonomous region.

It is estimated that 10,000 dogs were eaten at last year's festival, and this year activists have called for the custom to be banned, amid health concerns and public concern over the high proportion of pets and strays being abducted and slaughtered.

An investigation by HSI found that thousands of dogs – many of whom are family pets – are secretly slaughtered. The team working in Yulin photographed dogs rammed into tiny cages with breeds including Huskies and Samoyeds, some of which were still wearing collars.

The puppies were rescued from a tiny cage on the back of a motorbike.Humane Society International

Many of the dogs had gentle temperaments, suggesting they were used to being close to humans and were not strays or dogs bred for slaughter.

Wendy Higgins, communications director for the UK branch of HSI, said: "At the end of what had been an emotionally exhausting day for our team in China witnessing terrified dogs waiting to die, they came across these puppies crammed in a cage tied to the back of a motorbike.

"It was too much, they simply couldn't walk away knowing they were destined for the cooking pot.

"Like all puppies they are full of energy and life, but they were so close to death. Now they are our little Yulin Ambassadors."

However, the team also reported the conditions which those dogs less fortunate are kept.

HSI said many are bludgeoned to death before being thrown into a hair removing machine. They are then disembowelled and soaked in liquid to bloat their bodies, so they will fetch a higher price.

Many dogs were friendly and wore dog collars, suggesting they are family pets not strays.Humane Society International

A vet visiting the site with HSI said the dogs had been poisoned. Peter Li, HSI's China policy adviser, said: "For years there has been Western condemnation of the extreme deprivation and cruelty inherent in China's dog meat trade, but now the suffering is being condemned from within China itself.

"Old-fashioned attitudes of indifference towards animal suffering are being confronted by a younger population of better educated middle class who feel a moral responsibility and compassion towards animals and who are now expressing themselves through spontaneous acts of rescue, cruelty intervention and protest.

"This could be the crucial shift that sounds the death knell for dog meat. The Yulin festival is a gruesome and shocking place. To see any animal suffering is distressing, but there is something truly heart-breaking about seeing man's best friend so bewildered and betrayed."

Alibaba US IPO: Firm Reveals More Details About Business in Revised Prospectus

Alibaba New York IPO: Firm shares more details about partnership structure in revised prospectus.Reuters

Chinese e-commerce giant Alibaba Group Holding has disclosed details about the 27-person partnership that will run the firm post its planned US listing.

The firm, on 16 June, filed an amended prospectus for its planned New York initial public offering (IPO), where it said its partnership structure will include 22 members of management such as chief executive Jonathan Zhaoxi Lu, chief operating officer Daniel Yong Zhang, executive chairman Jack Ma and executive vice chairman Joseph Tsai.

The 27 partners will have the exclusive right to nominate a majority of Alibaba's nine-board members.

Alibaba also said its shareholders SoftBank and Yahoo have agreed to vote their shares in favour of Alibaba Partnership's nominees.

Earnings Data

The revised document also provided more details about Alibaba's quarterly earnings and the operating results of Alibaba units Taobao and Tmall, the firm's two main market places.

The company said revenue in the three months to March rose 38% year-on-year to $1.9bn (£1.1bn, €1.4bn), while profit increased 31% to some $884m.

Transaction volume on the Taobao site totaled CNY295bn in the three months ended 31 March, up from CNY223bn a year ago, while transaction volume on the Tmall site totaled CNY135bn as against CNY71bn a year ago.

The revised IPO prospectus has to be approved by the US Securities and Exchange Commission (SEC).

The updated document provides potential investors with more information about the operations of China's largest e-commerce firm, whose initial filing in May was slammed for its lack of detail.

Top IPOs by proceeds and fees.Thomson Reuters

Alibaba and its affiliates have splurged over $6.7bn over the past six months alone, most of it in Asia.

The investments expected to boost Alibaba's valuation, include an online market place in the US, a Chinese football club, a US-based mobile application developer, a Hong-Kong based department store operator and Chinese media assets.

Alibaba's New York IPO is widely expected to trump Facebook's $15bn initial stock sale in 2012.

India: Wholesale Price Inflation Jumps to Five-Month High of 6.01%

A mom-and-pop grocery store in Mumbai.Reuters

Rising food and fuel prices pushed up India's wholesale price inflation (WPI) to a five-month high in May, adding to fears that poor monsoon rains could boost food prices in Asia's third largest economy, hurting economic growth.

Wholesale prices jumped 6.01% in May, according to the latest government data.

The rise compared with a 5.4% annual increase forecast by a Reuters poll of economists, and a 5.20% increase in April.

Bond yields fell and the rupee weakened following the news. The benchmark 10-year bond yield rose 3 basis points to 8.64% while the rupee weakened to 60.23 to the US dollar, its lowest level since 6 May.

Besides, the news does not bode well for Indian businesses demanding a more favourable central bank interest rate regime.

Miguel Chanco, India Economist at Capital Economics said in a note to clients: "The acceleration was broad-based. Primary articles inflation, which consists mainly of food items, rose to 8.6% y/y from 7.1% in April. Meanwhile, fuel and power inflation bounced back up to 10.5% y/y from 8.9% previously. Non-food manufactured products inflation, a proxy for core inflation at the wholesale level, inched back up to 3.8% y/y after having moderated for two straight months."

"Going forward, however, the outlook for wholesale price inflation appears benign. PMI surveys suggest that input price pressures in general should soften from here. The input price component of the composite PMIs, which includes both manufacturing and service sectors, fell to its lowest level in a year in May. What's more, base effects are likely to put downward pressure on y/y inflation. Indeed, after it bottomed out at 4.6% y/y last May, wholesale price inflation increased markedly from June (5.2%) to November (7.5%).

"Nevertheless, the central bank is unlikely to consider cutting interest rates even if wholesale price inflation moderates in the months ahead. Crucially, consumer price inflation, which has displaced wholesale price inflation as the central bank's main gauge of inflation under Raghuram Rajan's governorship, remains stubbornly elevated at over 8% y/y.

"Overall, until the central bank feels comfortable that consumer price inflation will fall below its interim target of 8% by January 2015, repo rate cuts are likely to remain off the table," Chanco added.

Monsoon a key variable

Barclays Capital said in a note: "For the Reserve Bank of India (RBI), this year's monsoon rainfall will likely be a key variable in calibrating monetary policy, as the rains will have implications for both inflation and growth. The RBI expressed a marginally dovish stance in its June policy statement, in our view. But El Niño-related risks cannot be discounted, in our view. If the monsoon rains fail in the coming months, concerns of higher food inflation are likely to return.

"However, the IMD expects monsoon rains to be ~93% of normal in 2014, according to its latest projections. If the IMD's projections are correct, we would expect any damage to the trajectory food inflation to be limited. We are already seeing signs of retail inflation turning more manageable. With a likely softer inflation trajectory, a largely stable outlook for the INR and only a limited uptick in growth momentum, we think there would be increased room for a more balanced monetary policy stance in 2H 2014."

The WPI figures follow 12 June's data that showed consumer price inflation (CPI) hit a three-month low of 8.28% in May.

On 3 June, the RBI left its key policy rate unchanged at 8% but eased rules to encourage bank lending.

The annual monsoon accounts for 70% of India's rainfall and irrigates more than half its farmland.

Iraq Crisis: Are Isis Execution Photos Fake?

Isis claimed to have executed 1,700 Iraqi soldiersIsis

Gruesome pictures posted on Twitter by militants from the Islamic State of Iraq and the Levant (Isis) may not be authentic, according to human rights activists.

Isis, which has captured several key cities across Iraq in a brutal insurgency which began last week, posted several pictures purportedly portraying the abduction and killing of government soldiers.

The pictures appear to show masked Isis fighters loading captives into flatbed trucks before taking them to a shallow ditch, forcing them to lay face-down with their hands tied behind their backs. The final images show the bodies of the captives soaked in blood after being shot.

Isis captioned the photos with the claim that "hundreds have been liquidated", and boasted on a militant website that the horrific images provide evidence that 1,700 Iraqi government soldiers have been killed by Sunni fighters. Meanwhile Iraq's chief military spokesman, Lt. Gen. Qassim al-Moussawi, confirmed the photos' authenticity.

Moussawi also told AP that an analysis of the images by military experts showed that about 170 soldiers were executed by militants after their capture.

However Erin Evers, Human Rights Watch researcher in Iraq said: "We're trying to verify the pics, and I am not convinced they are authentic.

"As far as ISIS claiming it has killed 1,700 people and publishing horrific photos to support that claim, it is unfortunately in keeping with their pattern of commission of atrocities, and obviously intended to further fuel sectarian war," he said.

Reports of mass executions in areas seized by Isis in Iraq have been confirmed by US and local officials.

The New York Times reported that local residents in Tikrit, the hometown of the late dictator Saddam Hussein, saw hundreds of Iraqi military personnel captured when they tried to escape. "Those who were Sunnis were given civilian clothes and sent home; the Shiites were marched and trucked off to the grounds of Saddam Hussein's old palace in Tikrit, where they reportedly were executed," reported the paper.

Most of the men in the pictures are in civilian clothes, suggesting that Isis captured soldiers as they were trying to flee.

Some ask Y soldiers are wearing civilian clothes? ISIS themselves said they caught #Iraq soldiers trying 2 escape area in civilian clothes

— Jenan Moussa (@jenanmoussa) June 14, 2014

The Times of London's deputy editor Elizabeth Orcutt also assessed the authenticity of the graphic pictures. She claims that the photographs are of high quality compared to the usually poorer quality derived from still taken from a video footage.

"The quality of these images raises doubts: the colour seems too good, the quantity of pixels is above expectation and exposure is accurate," she wrote. The composition of the images also suggests that the maker "had some kind of visual training in making pictures and editing them". "We should be doubtful about the provenance of the images," she concluded.

Militants from the al-Qaida-inspired Islamic State of Iraq and the Levant (ISIS) taking aim at captured Iraqi soldiers

Bowe Bergdahl: US Army General to Begin Desertion Investigation

US Army Sergeant Bowe Berghdal is pictured in this undated handout photo.Reuters

A top US Army general is to begin his investigation into how and why Sgt. Bowe Bergdahl left his post in Afghanistan before being kidnapped by Taliban militants, according to a senior defence official.

The two-star general will investigate the circumstances of the soldier's disappearance in 2009 after he returned to the United States to continue his reintegration mission.

The senior defence official refused to name the general until there is a formal announcement. It is unclear when Bergdahl will be questioned.

Bergdahl, 28, arrived at a medical facility in San Antonio, Texas, after a swap deal for five Taliban prisoners held at Guantanamo Bay was agreed.

The military is to also investigate the circumstances which resulted in the deaths of six soldiers -- all colleagues of Bergdahl's -- who died during the search for the missing sergeant.

Sergeant Bowe Bergdahl is seen in a video released by his captors in 2010.

A letter sent from the sergeant to his family while in captivity was published this week by The Daily Beast, offering an insight into his reasons for abandoning his post.

"Leadership was lacking, if not non-existent" at the Afghanistan post, Bergdahl wrote in the letter, sent via the International Red Cross, dated 23 March 2013.

"The conditions were bad and looked to be getting worse for the men that where actuly (sic) the ones risking thier (sic) lives from attack.

"The cercomstance (sic) showed signs of going from bad into a nightmare for the men in the field," he wrote.

"Unexeptable (sic) conditions for the men working and risking life every moment outside the wire."

A former colleague of Bergdahl's, Nathan Bradley Bethea, wrote on the Daily Beast website that the sergeant's alleged desertion caused the deaths of soldiers from his own unit.

"He is safe, and now it is time to speak the truth. And that the truth is: Bergdahl was a deserter, and soldiers from his own unit died trying to track him down," said Bethea.

Hot Shots Photos of the Day: World Cup Action, Red Arrows, Iraq Crisis

The shadow of Ecuador's Walter Ayovi is seen as Switzerland's Xherdan Shaqiri looks on during their World Cup Group E match at the Brasilia national stadium in Brasilia.Reuters

Switzerland players celebrate at the end of their World Cup Group E match against Ecuador at the Brasilia national stadium in Brasilia.Reuters

France's Mathieu Debuchy fights for the ball with Roger Espinoza of Honduras during their World Cup Group E match at the Beira-Rio stadium in Porto Alegre.Reuters

Costa Rica's Joel Campbell is fouled by Uruguay's Maximiliano Pereira next to teammate Christian Stuani during their World Cup Group D match at the Castelao arena in Fortaleza. Pereira was issued a red card for the foul.Reuters

Costa Rica's Joel Campbell celebrates with the match ball after scoring against Uruguay during their World Cup Group D match at the Castelao stadium in Fortaleza.Reuters

Italy's Marco Verratti vies for the ball with England's Raheem Sterling during their World Cup Group D match at the Amazonia arena in Manaus.Reuters

Fans watch the England vs Italy World Cup match at The Isle of Wight Festival.Getty

Cameroon's Benjamin Moukandjo reacts after missing a chance to score during their World Cup match against Mexico at the Dunas arena in Natal.Reuters

Bosnia's goalkeeper Asmir Begovic fails to save a goal by Argentina's Lionel Messi during their World Cup Group F match at the Maracana stadium in Rio de Janeiro.Reuters

A cap thrown by a member of the crowd covers the face of Pope Francis as he arrives to lead an audience with Catholic groups Misericordie and Fratresat in St Peter's Square at the Vatican.Reuters

Camilla, Prince Charles, Princess Eugenie, the Queen, the Countess of Wessex, Prince Philip, Prince Harry, Kate Middleton and Prince William stand on the balcony of Buckingham Palace during the annual Trooping of the Colour ceremony to celebrate the Queen's official birthday.Getty

The Red Arrows fly over central London as part of the Queen's birthday flypast during the Trooping the Colour ceremony.Getty

A Lancaster flanked by two Spitfires from the Battle of Britain Memorial Flight fly over Buckingham Palace as part of Her Majesty's Birthday Flypast during Trooping the Colour.Getty

Visitors walk along a trail commemorating World War One at the Mini-Europe miniature park in Brussels. The trail depicts five cemeteries on the battlefields of Flanders, as well as the Christmas truce between British and German soldiers.Reuters

Israelis take part in a mass prayer at the Western Wall in Jerusalem's Old City, for the return of three teenagers who were abducted while hitch-hiking in the West Bank.Reuters

An armed pro-Russian separatist stands guard at the site of the crash of the Il-76 Ukrainian army transport plane in Luhansk. Pro-Russian separatists an anti-aircraft missile to shoot down the Ukrainian army transport plane, killing all 49 military personnel on board.Reuters

Volunteers who signed up to join the Iraqi Army to fight against militants from the Islamic State of Iraq and the Levant (Isis), carry weapons during a parade in the streets in Baghdad.Reuters

Members of Greek neo-Nazi party Golden Dawn march during an event held in memory of Alexander the Great in Thessaloniki.AFP

Israeli Teens Kidnapped: IDF Kill 21-Year-Old Palestinian During Raid Near Ramallah

Israeli soldiers load their weapons before taking part in an operation to locate three Israeli teens near the West Bank City of HebronReuters

Israeli forces have killed a 21-year-old Palestinian during a raid in al-Jalazon refugee camp, on the edge of Ramallah, as the massive manhunt following the alleged kidnapping of three Israeli teens.

Ahmed Sabarin was shot in the chest during house-to-house searches in the camp and died of wounds at the Palestine Medical Centre. Another man was wounded in the assault and at least five others from the camp were arrested.

It is unclear whether the Israeli Defense Forces (IDF) had been trying to arrest the men.

"Palestinians hurled rocks at security forces who responded with live fire. Scans of the area revealed ammunition and weaponry. Regarding the reports of a Palestinian killed we are still looking into them," said an IDF statement.

IDF troops have arrested 150 Palestinians, including leading Hamas members such as parliament speaker Abdel Aziz Dweik and Hamas founder Hassan Yousef and former ministers.

Israel has accused Hamas of abducting the teens, who went missing after going hitchhiking in the West Bank.

"Those who carried out the kidnapping of our youngsters are Hamas people," Israeli Prime Minister Benjamin Netanyahu said on Sunday. But Hamas called Netanyahu's comments "silly" and said the arrests were "aimed at breaking the will of the Hamas movement in the West Bank.

Israeli forces are also preparing a siege of the troubled city of Hebron as part of the manhunt. IDF troops have loaded concrete barricades on trucks and spread out bulldozers in the city, Ynet news reported.

The main entrances of the city were also blocked by the IDF with concrete blocks.

The students - 16-year-olds Naftali Frenkel and Gilad Shaar and 19-year-old Eyal Yifrach - disappeared near an Israeli settlement in the West Bank on their way back from lessons.

Pakistan Launches 'Strike from Mohammed's Sword' Operation as Taliban Warns Foreign Firms

Paramilitary soldiers in Karachi June 10, 2014.REUTERS/Athar Hussain

Pakistani authorities have launched a full-scale offensive against Islamist militants, dubbing the operation "Zarb-e-Azb" or "Strike from Mohammed's Sword".

As part of the latest series of attacks on the insurgents' strongholds in North Waziristan, Pakistani jets have been pounding their hideouts killing at least 120 suspected fighters.

The Inter-Services Public Relations (ISPR) has said at least 105 militants were killed on 14 June alone while the operation continues.

Director General of ISPR Major General Asim Bajwa said: "Using North Waziristan as a base, these terrorists had waged a war against the state of Pakistan and had been disrupting our national life in all its dimensions, stunting our economic growth and causing enormous loss of life and property."

"They had also paralysed life within the agency and had perpetually terrorised the entire peace loving and patriotic local population."

The Islamabad administration has been carrying out a series of anti-terror measures following the Karachi airport siege, which was claimed by both Uzbek militants and the Tehreek-i-Taliban (Pakistani Taliban).

Meanwhile, the militant outfit has issued a stern warning to foreign companies asking them to shut down their operations.

The Taliban's latest statement reads: "We warn all foreign investors, airlines and multinational corporations that they should immediately suspend their ongoing matters with Pakistan and prepare to leave Pakistan, otherwise they will be responsible for their own loss."

"This thing is clear to all that the capital gained [by Pakistan] through your activities and trade falls on innocent tribal women and children like fire and iron."

"We hold [Prime Minister] Nawaz Sharif's government and the Punjabi establishment responsible for the loss of tribal Muslims' life and property as a result of this operation. The retaliatory actions of the Mujahedeen will make you a cautionary tale in history."

As the Pakistani authorities are tightening their screws, the militant groups including Taliban and al-Qaida, which largely operate from the mountainous regions of North Waziristan, are under intense pressure to prove their clout.

Major Pakistani cities including Islamabad, Lahore and Karachi are on high alert and troops have been deployed in the streets.

Immigrant Deportations Surge to Boost Developing Countries Remittances to $430bn in 2014

A worker counts US dollar bills and Philippine pesos inside a money changer in Manila.Reuters

Migrants from developing nations are expected to send home $436bn in remittances this year, in the face of more deportations from some host countries, according to a World Bank report.

The remittance flow in 2014 is projected to increase 7.8% over the 2013 figure of $404bn (£238bn, €299bn), according to the latest issue of the World Bank's Migration and Development Brief.

Remittances to the developing world are forecast to cross the half-trillion mark by 2016 and could hover around $516bn, according to revised projections from the WB.

In several developing economies, remittances are more stable than private debt and portfolio equity flows.

Remittances to developing nations.World Bank

The medium term outlook for remittances "is strong". However, "downside risks" emerge mainly from migrants' return to their home countries in the wake of conflict or deportation from host countries, the brief added.

Kaushik Basu, the WB's Chief Economist said in statement: "Remittances have become a major component of the balance of payments of nations. India led the chart of remittance flows, receiving $70bn [in 2013], followed by China with $60bn and the Philippines with $25bn.

"There is no doubt that these flows act as an antidote to poverty and promote prosperity. Remittances and migration data are also barometers of global peace and turmoil and this is what makes World Bank's KNOMAD initiative to organize, analyze, and make available these data so important."

Remittances as a share of GDP.World Bank

In Nepal, remittances are nearly double the Himalayan country's revenues from exports of goods and services. Elsewhere, in Sri Lanka and the Philippines, they are over 50% and 38% respectively.

In Uganda, remittances are double the country's income from its chief export of coffee.

In India, 2013's remittances of $70bn exceeded the $65bn that nation raked in from software services exports.

In terms of remittances as a share of GDP, Tajikistan topped a list of 10 countries with fund transfers accounting for 52% of the nation's 2013 GDP.

Britain and China to Sign Deals Worth Over $30bn During Premier Li Keqiang's Visit

British Prime Minister David Cameron closes his eyes next to Chinese Premier Li Keqiang as the national anthem is being played during an official welcoming ceremony at the Great Hall of the People in Beijing.Reuters

Britain is expected to bolster its economic ties with the world's second largest economy as Chinese Premier Li Keqiang visits the country for the first time since taking office.

The countries are expected to sign deals worth more than $30bn (£17.7bn, €22bn) during the three-day visit starting from 16 June. The deals are expected to ensure more Chinese investment in the UK energy, nuclear power and other infrastructure sectors.

"The two sides are expected to sign over 40 agreements between the governments and businesses covering a wide variety of sectors including energy, investment, cultural and educational cooperation," Chinese ambassador, Liu Xiaoming said.

"The total value could reach a record-setting $30bn," he added.

In a press conference ahead of the visit, China's vice foreign minister Wang Chao and vice commerce minister Gao Yan said the trip will aim to build further cooperation between China and Europe.

During his trip, Li is expected meet Prime Minister David Cameron, Queen Elizabeth and other British leaders. Talks with Cameron would cover subjects such as trade, investment, energy and cultural exchanges, according to Wang.

In addition, they will discuss London's role as a yuan trading centre.

"The visit will promote bilateral cooperation in infrastructure construction, nuclear power, high-speed rail, finance and high technology. This will benefit people from both countries." Wang said.

"We hope the UK could push the European Union to loosen the restrictions on exports from China, limit the use of trade remedy measures, and create favourable conditions for China-EU and China-UK trade. And at the same time, both sides should study further whether a China-EU free trade zone is feasible." Gao Yan said.

Former Chinese Ambassador to Britain Ma Zhengang told Xinhua News that China's well-developed manufacturing experiences and Britain's highly developed finance and service sectors and advanced technology can go hand in hand.

"For one thing, China has technology in infrastructure construction such as high speed railways, which is exactly what Britain needs now; for the other, China should learn from Britain's experience in financial management," Ma said.

The countries have recently experienced an increase in bilateral trade. In 2013, bilateral trade crossed the historic mark of $70bn, increasing by 11% year-on-year. That compares to a 2.1% growth in overall China-Europe trade during the same period.

World Cup 2014 to Help Kick Global Advertising Spend to $524bn

World Cup 2014 to Help Kick Global Advertising to $524bnReuters

The World Cup in Brazil is set to kick the global advertising market into the half a trillion dollar zone this year as television ads during the flurry of games will boost the sector to $524bn.

According to media buyer ZenithOptimedia, the World Cup will add as much as $500m (£294m, €374m) to the Latin American ad market this year, a further $300m in the US and $300m in Western Europe.

However, the Asia Pacific region is set to reap the least in World Cup related ad spend at $250m, due to the time differences of when the matches will be shown in Latin America.

Meanwhile, the remaining $150m is set to come from Central & Eastern Europe, the Middle East and North Africa, and the rest of the world.

"The World Cup will provide a big boost to television in June and July, but we expect its share of the global advertising market to begin to fall this year, after peaking in 2013," said ZenithOptimedia.

"Television's global market share rose slowly but steadily for decades, increasing from 29.9% in 1980 to 39.6% in 2013. We now expect its share to erode to 39.4% in 2014 and 38.3% by 2016.

"This is not because advertisers are withdrawing from television – far from it, we expect television adspend to rise at an average of 4.4% a year to 2016. But internet advertising is growing so much faster – at 16.2% a year – partly because it now offers credible brand-building alternatives to television."

The Rise of Digital Ad Spend

ZenithOptimedia also said global advertising will grow 5.4% this year, following the rapid rise in mobile advertising and an improved Eurozone economy.

"Growth will continue to improve over the next two years, reaching 5.7% in 2015 and 6.1% in 2016, driven by continued economic recovery, including, at last, the Eurozone," said Zenith Optimedia in a statement.

According to the group's forecasts, mobile advertising (all internet ads delivered to smartphones and tablets, whether display, classified or search, and including in-app ads) is growing 5.5 times faster than desktop internet.

"We forecast mobile advertising to grow by an average of 49% a year between 2013 and 2016, driven by the rapid adoption of smartphones and tablets, and the subsequent explosion of mobile search and media consumption," it added.

"By contrast we forecast desktop internet advertising to grow at an average of 9% a year. We forecast mobile to contribute 38% of all the extra ad spend between 2013 and 2016, ahead of television (accounting for 31% of new ad expenditure), followed by desktop internet (30%)."

Meanwhile, online video is set to be another burgeoning area for growth.

ZenithOptimedia said television and online video will increase their share of the global ad market from 41.2% in 2013 to 41.3% in 2014, as video advertising as a whole "will remain the best way to build brand awareness and engagement for many years to come."

Li Keqiang Confident China Will Hit 7.5% Growth Target for 2014

Premier Li speaks during a news conference, after the closing ceremony of the Chinese National People's Congress (NPC), in Beijing, on 13 March, 2014.Reuters

The Chinese government is confident that the world's second-largest economy will hit its growth target of 7.5% for 2014, Premier Li Keqiang has said, adding Beijing is prepared to tinker with policy to ensure it does.

Writing in Britain's The Times newspaper ahead of his visit to London, Li said slowing growth in China was normal and that it did not pose a problem.

"China's economy needs to grow at a proper rate, expected to be around 7.5% per cent this year," Li wrote on 16 June. "It is slower than the past, but normal."

"Despite considerable downward pressure, China's economy is moving on a steady course. We will continue to make anticipatory and moderate adjustments when necessary. We are well prepared to defuse various risks. We are confident that this year's growth target will be met."

Infrastructure Boom

Beijing is geared to embark on another infrastructure-spending spree in an effort to stimulate its economy.

Despite having spent the past year trying to rebalance the economy in favour of a consumption based model, Beijing will now build new highways, train networks and waterways in an effort to keep its GDP growth level around the 7.5% level.

The decision follows moves to encourage local authorities to exhaust their 2014 budgets by the end of June and the streamlining of numerous utility taxes for businesses into a single, lower levy. The saving for businesses is set to amount to around £2.3bn.

The World Bank, in its twice-yearly Global Economic Prospects report, has said that China's growth is expected to ease gradually from 7.6% in 2014 to 7.4% by 2016, reflecting continued rebalancing.

A Reuters poll in April pegged China's full-year economic growth at 7.3% for 2014, the weakest in 24 years.

The Chinese economy expanded at a pace of 7.4% in the first quarter of 2014, but that rate was the slowest in 18 months owing to weak domestic and international demand.

Indian Jute Mill CEO Beaten to Death By Employees Over Working Hours

West Bengal's jute sector has been suffering from dwindling demand.Reuters

Furious employees at a jute mill in the Indian state of West Bengal killed their CEO after he allegedly rejected their demand to increase weekly working hours so that they get more wages.

H K Maheshwari, the 68-year-old CEO of North Brook Jute Mill in Hooghly district, died on the way to hospital after he was beaten by angry factory workers.

The incident took place hours before the mill management and workers were scheduled to discuss reduction of working hours.

The employees thrashed Maheshwari with iron rods and pelted stones at him after he refused to accept the workers' demand, according to local media reports.

Two other officers also suffered injuries in the attack, and were taken to a local hospital and released after treatment.

Four people have been arrested so far in connection with the attack.

The mill was allegedly suffering from lower orders, and wanted to reduce the working hours. It has already been operating only for eight hours per day over the past few weeks.

The management wanted to scale down operations by running the plant three days a week or five hours a day, but the employees represented by eight trade unions wanted the mill to function for at least five days a week.

In January 2001, two officials at a jute mill at Baranagar in West Bengal were thrashed and burned alive as workers protested against the suspension of two workers.

Condemning the death, the Indian Jute Mills Association (IJMA) said the incident had put a question mark on the future of the ailing jute industry in West Bengal.

Former IJMA president and industrialist Sanjay Kajaria said there was an urgent need to remove misunderstanding and tension between the managements and workers of jute mills.

West Bengal's jute sector has been suffering from poor financial conditions amid dwindling demand and labour problems, according to analysts.