Kenya: Cargo Plane Crashes into Buildings in Nairobi Killing all Four on Board

Kenya plane crash kills at lease fourTwitter

A cargo plane has crashed into commercial buildings in Kenyan capital Nairobi, killing all the four people on board.

Authorities believe there are no survivors. "It is not clear what caused the crash but officials here say it was flying so low before it came down and burst into flames. We have no survivor," said Joseph Ngisa, Jomo Kenyatta International Airport (JKIA) chief of investigations.

The Fokker 50 cargo plane was headed for Mogadishu, Somalia. The aircraft flew into two commercial buildings in Utawala, in Embakasi area of the capital at about 04:00 am local time.

"The plane crash landed and burst into flames, four occupants were killed and we are combing through the debris to find out if there are more," Nairobi County Police commander Benson Kibue told reporters.

The aircraft belongs to the Skyward airlines.

The roads in the area have been cordoned off to assist the ongoing emergency measures. An investigation has been initiated.

Kenya plane crash kills at least fourTwitter

Egypt's President Sisi Signs 10% Tax on Capital Gains and Dividends into Law

Egypt's President Abdel Fattah al-Sisi speaks during a joint news conference in Khartoum(Reuters)

Egypt has passed a new law imposing a 10% tax on capital gains and stock dividends, according to a statement from the presidency.

Egypt's President Abdel Fattah al-Sisi signed the law after passing a national budget for the 2014/15 fiscal year that aims to reduce the country's deficit to 10% of gross domestic product.

Capital gains taxes are imposed by the state on any profits made on property or investments.

Following more than three years of economic, political and social turmoil in the country, Egypt's new President has vowed to restore security and reform the country's ailing economy.

The administration's plans to cut fuel subsidies have been widely discussed across a society that has grown accustomed to cheap fuel and electricity.

Egypt's fuel subsidy has been slashed to LE100bn (£8bn, $14bn, €10bn), down from the LE144bn proposed in the initial budget draft. Fuel subsidies are thought to have cost the government in the region of LE130bn in the 2013/14 fiscal year.

On the other hand, the electricity subsidy is set to almost double from around LE14bn to LE27.2bn, meaning that the overall state subsidy bill is likely to be higher overall.

South Africa to Miss Growth Target After Damaging Strike

Mineworkers dance as they gather for check-ins near Lonmin's Marikana platinum mine before returning to work(Reuters)

South Africa is set to miss its annual growth target of 2.7% after the longest strike in its history crippled the economy, according to Finance Minister Nhlanhla Nene.

South Africa's economic outlook "has moderated," he told reporters in Pretoria.

His comments came after the World Bank slashed its growth forecast for the country to 2% in June, down from 2.7% prediction made earlier in the year.

Forecasts by the International Monetary Fund and other institutions show "the economy is not going to grow as fast as we had anticipated," Nene said.

Gross domestic product shrunk by 0.6% in the first three months of the year, as the country's mining sector was paralysed by a long-running strike which ended in late June.

The strike "had a significant impact on the economy," Nene said. "It's going to take a bit of time for the economy to return to its pre-strike performance."

The five-month strike halted production at mines across South Africa, home to the world's largest platinum mines and Africa's second largest economy after Nigeria.

Ratings agencies warned over the country's creditworthiness in June, as Standard & Poor's slashed its credit rating to one level above junk.

Meanwhile, the country's largest union launched a strike on Tuesday over wages. National Union of Metalworkers of South Africa (Numsa,) said 200,000 engineers and metalworkers had downed tools on Tuesday, just a week after the miners' strike ended.

South Korea Vows 'Merciless' Attacks on North Korea if Provoked

A tactical rocket lifts off during a firing drill of the KPA Strategic Force in this undated photo released by North Korea's Korean Central News Agency (KCNA) in PyongyangReuters

South Korea's recently-appointed defence chief has warned North Korea of "merciless" attacks if it resorts to provocative acts.

Defence Minister Han Min-koo's strong remarks came during a tour of the islands of Yeonpyeong and Baengnyeong, which are located near the tense inter-Korean border region known as the Northern Limit Line.

Han urged the country's ground troops to gear up for any counter-attack.

Han took over from Kim Kwan-jin who has been appointed as South Korea's national security adviser.

Han said: "Our military has maintained the principle of launching counter-strikes at not only the origin of provocations, but also forces supporting it and its commanders. If North Korea provokes again, we will punish it as repeatedly warned."

"A merciless response to the enemy's provocations is the order of the people, and I have a strong willingness and determination to implement it," he said, according to Seoul's Yonhap news agency.

The warning comes amid rocket fire from North Korea accompanied by belligerent statements.

Responding to Pyongyang's remarks, Han said: "The Island is one of the tensest regions, and it is the very place that shows North Korea's belligerence."

In a separate development, the South Korean government turned down an offer extended by the reclusive nation's powerful National Defence Commission (NDC) to boost inter-Korea relations.

Seoul's unification ministry said in a statement: "North Korea's proposal lacks sincerity and is preposterous as it blames South Korea for growing inter-Korean military tensions and strained bilateral ties."

"Pyongyang should demonstrate its sincerity on resolving the nuclear issue - the fundamental threat to peace on the Korean Peninsula - if it truly wants peace."

NSA Was Allowed to Spy on India's BJP And Egypt's Muslim Brotherhood: Snowden Documents

Edward Snowden

The US National Security Agency (NSA) was allowed to spy on India's present ruling party, the Bharatiya Janata Party (BJP), Egypt's Muslim Brotherhood and the Pakistan People's Party, according to fresh revelations based on documents leaked by whistleblower Edward Snowden.

In 2010, a US court had permitted the NSA to spy on a number of political organisations across the globe, according to classified documents leaked by the former NSA contractor.

The Washington Post, citing the documents, reported that the spy agency was authorised to carry out surveillance on the BJP along with five other political organisations across the world.

Other political parties in the list are Lebanon's Amal, the Bolivarian Continental Coordinator of Venezuela and the Egyptian National Salvation Front.

"These are the entities about which the NSA may conduct surveillance, for the purpose of gathering foreign intelligence," the newspaper writes.

The US Foreign Intelligence Surveillance Court allowed the NSA to carry out surveillance on 193 foreign governments as well as foreign factions and other entities in 2010, according to the documents.

That does not mean the NSA had been targeting all the countries or organisations, rather it had only been given the authority to do so.

"Still, the privacy implications are far-reaching... because of the wide spectrum of people who might be engaged in communication about foreign governments and entities and whose communications might be of interest to the United States," the Post writes.

Snowden received international attention after he leaked up to 1.7 million top secret documents about the NSA's surveillance programmes.

The Obama administration faced severe criticism across the globe as the documents revealed that the NSA tapped telephone conversations and spied on the internet activities of prominent people, including German chancellor Angela Merkel and Brazilian president Dilma Rousseff.

Snowden is wanted by the US on charges of espionage and theft of government property. He is currently staying in Russia.

Dodd-Frank Law has Limited Impact on Conflict Minerals Exploitation

Artisanal gold miners sit outside a tunnel at an illegal mine-pit in Walungu territory of South-Kivu province near Bukavu, Democratic Republic of Congo(Reuters)

A new law designed to prevent the spread of conflict minerals has impacted on some company's supply chains, according to campaigners, although most companies failed to meet a deadline for tracing the source of their minerals.

Two decades of conflict in eastern Democratic Republic of Congo (DRC) have been funded by the exploitation of natural resources, in particular "conflict minerals," which have been smuggled through Rwanda, Uganda and Burundi.

The term is used to describe raw materials, such as gold, tungsten, tantalum and tin, that are mined in areas where fighting or human rights abuses are taking place.

Part of the US Dodd-Frank financial reform law compelled American companies to attempt to establish the origins of the above metals, although a mere 5% of the firms that filed reports by the June 2 deadline had traced the conflict status of the minerals in their products, according to risk management company Source Intelligence.

Campaign groups seeking to halt the use of conflict minerals in the US said the new law has already made an impact but that most companies could do more.

"Overall we've been disappointed with the response of companies, and the lack of meaningful information on the supply chain checks and risk assessments they are doing, although a few of the reports have been strong," Global Witness campaigner Emily Norton said, as quoted by Reuters.

"The law has triggered companies right along the supply chain to change their sourcing practices," Norton added.

The impact of the new legislation is widely contested, as rebel groups' involvement in the trade can be difficult to track in the DRC.

Tin industry body ITRI has launched certification scheme in Congo's North Kivu after similar projects were launched in the copper-rich south-eastern provinces of Katanga and South Kivu.

"Dodd-Frank and the ensuing initiatives, including traceability and certification, have removed armed actors from the mines," Christoph Vogel, a Congo researcher at the University of Zurich, told Reuters.

"But now we hear that army commanders are sending intermediaries to organise taxation on the sites," Vogel said.

The remoteness of the region remains one of the biggest challenges for companies and campaigners attempting to weed out the use of conflict minerals.

India Signs Agreement to Attract Chinese Investments in Industrial Parks

India's Vice President Mohammad Hamid Ansari (C) in ChinaReuters

India and China signed three landmark pacts including one that allows Chinese investment in industrial parks and zones.

The Memorandums of Understanding (MoUs) were signed during Indian vice president Hamid Ansari's visit to China in the presence of his counterpart Li Yuanchao.

The MoU on industrial parks targets attracting Chinese investments in India and laying the framework for such investments.

As per the agreement, the countries will set up an Industrial Park Cooperation Working Group, which will be equally represented by both nations. The group would look for ways to cooperate under this agreement and periodically review progress.

"There is enough space in the world for the development of India and China, and the world needs the common development of both countries. As two large developing countries, our common interests far outweigh our differences," Ansari said in a speech at the Chinese Academy of Social Sciences in Beijing.

India expects four Chinese industrial parks where a variety of goods could be manufactured.

The move is part of India's broad attempt to shrink its trade deficit with China, which averages around $35bn (£20.5bn, €25.6bn) per year. Bilateral trade between the countries totalled $65.47bn in 2013.

India's imports from China are significantly higher than its exports to the country, leading to a trade deficit. India looks to compensate the trade gap with increased Chinese investments into the country, among other measures.

Another agreement was signed by the countries to share flood water data from the Brahmaputra river, which would provide India with 15 days more of hydrological data of the river to help in flood forecasting.

The third MoU involves the countries establishing a framework for regular interactions between administrative officials to share experiences and learn from each other's best practices.

Ansari is on a five-day visit to China to take part in the 60th anniversary of Panchsheel, or the Five Principles of Peaceful Coexistence – a treaty between the countries signed in 1954 to govern relations between them.

Americans Jeffrey Fowle and Matthew Miller Face Trial in North Korea for 'Hostile Acts'

Jeffrey Fowle has been detained for violating its laws after entering the secretive state in April, bringing the number of US citizens held by Pyongyang to three.Reuters

Two US tourists are facing trial in North Korea after carrying out "hostile acts" against the country, such as leaving a copy of the Bible behind in a hotel room and shouting in the airport.

Jeffrey Fowle, 56, and Matthew Miller, 24, entered the country on separate tours in April, according to the state media's Korean Central News Agency.

"Investigation is continuously ongoing but [we are] preparing for a trial based on some already confirmed hostile acts," the KCNA reported.

The hostile acts have been allegedly confirmed by evidence and the men's own testimonies.

Fowle, from Ohio, entered North Korea on 29 April. He left a Bible in a hotel room, considered a provocative act in North Korea where freedom of religion is limited.

A spokesman for his family has said he was not on a mission for his church. They are naturally "anxious for his return home".

Miller, 24, entered on 10 April with a tourist visa but he tore it up at the airport on arrival, shouting that he wanted to seek asylum. He is accused of a "gross violation of its legal order".

According to Jung-Hoon Lee, professor of International Relations at Yonsei University in Seoul, said the dictatorial state was using "typical hostage" tactics, which amounted to nothing more than "terrorism".

Pyongyang is currently subjected to increasing UN trade and economic sanctions since it announced plans to develop nuclear weapons. The US citizens held in custody could be used as bargaining chips with regard to sanctions.

"North Korea is obviously thinking the Obama administration is currently vulnerable, given the sensitive situation in Syria, Iran and Ukraine. So for them, this is the perfect time to rattle things up to gain leverage by using human hostage bargaining chips," said Lee.

North Korea has been holding Korean-American missionary Kenneth Bae since November 2012. He was convicted and sentenced to 15 years of hard labour, also for "hostile acts" against the state.

The US does not have an embassy in Pyongyang. The Swedish Embassy takes responsibility for consular affairs in the region.

State Department officials say they cannot release details about the cases because they need a privacy waiver to do so. Though a small number of US citizens visit North Korea each year as tourists, the State Department strongly advises against it.

Nanotech 'Nose' Sniffs Out Bombs From Five Metres Away

Tracense - a new bomb detecting device that utilises hundreds of tiny nano sensors to detect smells

An Israeli start-up has developed the world's first "electronic nose" that uses super-sensitive nanotechnology sensors to sniff out bombs, and can even outperform dogs.

The Tracense bomb detecting device is designed to test for numerous substances simultaneously with a high rate of accuracy, giving results almost instantly.

"Our 'laboratory-on-a-chip' nano-sensors can detect a wide range of chemical threats, such as explosives, chemical and biological warfare agents, in air, solid and liquid samples, at extremely low concentrations, unmatched by existing technologies," Tracense CEO Dr Ricardo Osiroff told Times of Israel.

"Our system meets and beats the capabilities of dogs and other animals."

The system has been successfully tested on highly explosive materials like TNT, RDX and HMX, along with peroxide-based explosives TATP and HMTD.

Breaking down odours

Odours are a combination of several specific molecules, whereby each smell contributing to the odour gives off its own specific chemical properties.

At the moment, there are systems able to break down odours using analytical chemistry equipment, but these systems are bulky and meant to be used in a laboratory, or requiring a big sample of an odour to detect what it is.

Tracense wants its invention to be an affordable portable device that can be easily used by the police and airport security, so the chip in the device contains hundreds of tiny nano sensors capable of detecting even the most minute traces of chemicals, even as low as a few molecules per 1,000 trillion.

Using nanosensors

The technology was developed by a team of researchers headed by Professor Fernando Patolsky of the Chemistry Department and the Nanoscience Center of the Tel-Aviv University Exact Sciences Faculty, a top researcher in the field of nanotechnology who holds over 15 patents.

His research, entitled "Supersensitive fingerprinting of explosives by chemically modified nanosensors arrays" is published in the latest issue of Nature Communications.

Tracense has spent over $10 million (£5.8m) in research and development and hopes to release the bomb detection device commercially next year.

"Tracense is the first company in the world to overcome the hurdle of manufacturing a nano-sensor array with reliability, repeatability and at a reasonable cost," said Osiroff.

"Our technological achievements in the field of nanotechnology enable the fabrication of large silicon nanowire sensing arrays on a small semiconductor chip. Tracense sensors meet acute and ever-growing needs of the multibillion dollar market of threat detection for public safety, homeland security, and military uses."

Argentina Refuses to Engage in Settlement Talks With 'Vulture Funds' as 30-Day Grace Period Begins

The Economy Ministry building is seen in Buenos AiresReuters

Argentina is seemingly refusing to engage in discussions with holdout bondholders, as the country's 30-day grace period to avoid a technical default has begun.

Holdout investors led by Elliott Management's NML Capital Ltd and Aurelius Capital Management said that the Argentine government has refused to negotiate a settlement on defaulted debt, according to media reports.

"Argentina's professed willingness to negotiate with its creditors has proven to be just another broken promise. NML is at the table, ready to talk, but Argentina has refused to negotiate any aspect of this dispute," Jay Newman, senior portfolio manager at Elliott Management, was quoted by Reuters as saying.

"We sincerely hope it reconsiders this dead-end path."

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

The country owes up to $1.5bn (£880m, €1.1bn) to the funds that bought Argentinean bonds at rock-bottom prices following the country's $95bn default on its foreign debt in 2001.

Earlier, the funds won a lawsuit against the country in the US, and US District Judge Thomas Griesa ordered that Argentina must compensate the holdout creditors at the same time it pays investors who took part in its debt restructuring.

Despite the ruling, Argentina had deposited about $832m (£489m, €610m) at New York banks to make interest payments on 30 June. However, the move was blocked by Griesa.

Following the adverse ruling, Argentina said it was willing to negotiate with the so-called "vulture funds" to settle a 12-year-long legal dispute.

Argentina claimed that if the country paid the suitors on their terms, it would lead to claims from other holdouts of around $15bn in debt.

The lawsuits have kept the country from accessing the international capital markets since defaulting on its debt.

Griesa had earlier appointed Daniel Pollack, an expert in financial cases, to preside over the talks between the parties. On 30 June, Argentina said it would send a delegation to New York to meet on July 7 with Pollack, but it did not mention whether it would sit down with the holdouts.