Malaysia Airlines Likely to Cut 25% Staff as Part of Restructuring

Malaysia Airlines employees react during a repatriation ceremony at the KLIA airport in Sepang, for victims of the downed Malaysia Airlines flight MH17, August 22, 2014.REUTERS

Troubled Malaysia Airlines (MAS) may cut a quarter of its 19,500 staff as part of its restructuring proposed by state fund Khazanah Nasional Bhd, according to media reports.

In addition to the deep job losses, the company is likely to announce measures such as route cuts and a change in leadership when it releases its second-quarter report as early as 28 August. MAS would stop flying to some cities in China and Europe – regions that suffered the most from the twin disasters.

Khazanah Nasional, the majority shareholder of MAS, earlier announced that it is preparing a restructuring plan for the airline, which lost two aircraft in less than five months in 2014, killing 537 people.

As per the plan, Khazanah Nasional will take over minority shares for 1.38bn ringitt ($429m, €321m, £255m) to become the sole owner of the airline, leading to the delisting of the company from the country's stock exchange.

In June, Khazanah had announced that it was in the midst of undertaking a comprehensive review of MAS, and would announce a restructuring scheme within a period of six to 12 months.

Khazanah noted that the proposal for delisting represents the first stage of a restructuring scheme for the airline.

Any restructuring plan likely would need approval from the government headed by Prime Minister Najib Razak. Razak is likely to allow Khazanah and MAS to work out the details, according to analysts.

"We believe our national carrier must be renewed. This means wholesale change, to deliver a wholly different outcome," Razak said earlier.

"Only through a complete overhaul of the company can we deliver a genuinely strong and sustainable national carrier.... Piecemeal changes will not work."

Adding to its longstanding financial problems, MAS was hit by two major disasters in 2014.

In March, its flight from Kuala Lumpur to Beijing disappeared with 239 people on board. A search is under way in the Indian Ocean for the missing plane.

In July, another MAS flight heading to Kuala Lumpur from Amsterdam was shot down in eastern Ukraine, which is controlled by pro-Russian separatists, killing 298 people.

US Navy Ship Fires Warning Shot at Armed Iranian Dhow in Volatile Persian Gulf

The US Navy Arleigh Burke-class guided-missile destroyer USS RooseveltReuters file photo

An American navy vessel fired a warning shot towards an armed Iranian fishing vessel during a brief encounter in the volatile Persian Gulf, said the US Coast Guard.

The confrontation occurred when the US ship was on a routine patrol and officials insisted that the incident did not spiral out of control.

The US Coast Guard patrol boat Monomoy dispatched an inflatable boat to make contact with the Iranian dhow, a traditional vessel in the Middle East. Nonetheless, the Iranian boat is said to have stopped communication abruptly.

"The dhow's crew trained and prepared to fire a .50 caliber machine gun on their small boat as it approached as part of a routine maritime security operation," said the US navy.

"This action by the dhow's crew demonstrated hostile intent, which resulted in the defensive fire by the Coast Guardsmen."

The US officials say the incident took place at about 11:30 am local time in international territorial waters and the American forces acted in self defence.

The Iranians are yet to respond regarding the incident.

It is still unclear whether the Iranian-flagged ship belongs to the Islamic Revolutionary Guard Corps. The Iranian navy have used such strategies to transport arms from Iran to Yemen and other places.

Vessels from the US and Iran have been involved in such tense confrontations in the last decade in the Strait of Hormuz and the Persian Gulf.

Gaza Strip: Gun-Totting Kids Lead 'Victory' Celebrations as Palestine-Israel Ceasefire Begins

Young boys brandishing apparently real guns celebrate peace for Gaza in a Israel / Palestine ceasefire(Reuters)

Young boys wave guns in the air and a Hamas official gets soaked during an impromptu foam party as Palestine marks the end of the latest war with Israel.

A ceasefire brokered by Egypt between Israel and Palestine has brought to an end more than seven weeks of fighting between Hamas and the Israeli government.

Hamas spokesman Sami Abu Zuhri is doused with foam during celebrations at peace for Gaza in an Israel / Palestine ceasefire(Reuters)

Palestinians flocked on to the streets to mark the end of hostilities, but the standoff between the militants in charge of Gaza and the Israeli state remains as tense as ever.

But on the streets so recently pounded by airstrikes and the boots of Israeli soldiers, Palestinians celebrated what they claimed was a victory in the 51 day-long conflict.

Young men celebrate peace for Gaza in an Israel / Palestine ceasefire(Reuters)

Gun shots fired in celebration echoed the shooting done in anger for weeks, in scenes which shocked the world.

Palestinian President, Mahmoud Abbas, announced: "There will be a complete stop in fighting" coming in effect from 7pm Cairo time. Israel also accepted the resolution bringing to an end the fighting."

However, as the long-term ceasefire was announced, there were reports of sirens sounding in the south of Israel at incoming rockets.

US Female Aid Worker is a Confirmed Isis Hostage

US journalist James Foley was beheaded by Isis militants(YouTube)

A young female aid worker has been confirmed as the third US national held hostage by jihadists from the Islamic State (IS).

The Islamist group, previously known as Isis, has reportedly demanded a $6.6m (£4m) ransom for the 26-year-old, who has not been named upon a request by her family and the US government over fears for her safety.

The kidnapped American had been working for several humanitarian aid groups in Syria when she was abducted last year.

She is one of at least three American hostages known to be held captive by the militant group that has seized control of large swathes of Iraq and Syria.

Another, journalist James Foley, was beheaded by the Jihadist group earlier this month. Fellow US reporter Steven Sotloff was seen alive in a video of Foley's execution released by IS.

According to ABC News, in exchange for the 26-year-old aid worker's life, IS has requested Washington releases Aafia Siddiqui, a Pakistani scientist who is serving a long prison sentence in Texas for trying to kill US officials.

IS had previously demanded Siddiqui's freedom and $132m to release Foley.

Siddiqui, an MIT-trained neuroscientist, was arrested in 2008 in Ghazni, Afghanistan, with documents and materials allegedly related to plans to carry out attacks in the US.

During questioning, the 42-year-old got hold of a rifle and opened fire. She was later charged with attempted murder, armed assault, using a firearm and assaulting US officers. She was sentenced to 86 years in prison in 2010.

Her family has released a statement to distance themselves form IS.

"Our family does not have any connections to such groups or actions," it said in a letter. "We believe in a struggle that is peaceful and dignified. Associating Aafia's name with acts of violence is against everything we are struggling for."

Brazil: Hospital Probe After Patient Comes Back to Life in Body Bag

Valdelucio Goncalves came back from the dead after suffering multiple organ failure.

A hospital is being investigated after a man was wrongly declared dead and came back to life two hours later inside a body bag.

Valdelucio Goncalves was presumed dead by doctors after he suffered "respiratory and multiple organ failure" at Menandro de Farias General Hospital in Salvador, north-east Brazil.

“As I got closer I could see it wriggling”

Walterio Goncalves

Within hours his brother, Walterio, was on his way to the hospital's morgue to dress Valdelucio in preparation for his funeral.

But to his shock as he approached the body bag at the mortuary it began to move.

"As I got closer I could see it wriggling," he told G1 website.

"I went crazy and shouted for the medical team, the nurse, so they could see what was happening. They checked him and confirmed that he was still alive."

Now the health department for the state of Bahia has launched an inquiry into the blunder.

A death certificate was also issued by the hospital confirming his death. The 54-year-old had been admitted to hospital with advanced stomach cancer.

Margarida Mirando, director of the Meandro de Faria General Hospital, said in a statement that she "will meet with the whole team involved in the patient's care to clarify the chain of events which allowed this to happen."

Valdelucio has since been transferred to Santo Antonio hospital following a request by his family.

He cannot speak since having a tracheotomy but claimed in a letter he wrote that he had been brought back from the dead by Saint Irma Dulce, known for her miraculous powers in Brazil.

He wrote: "I, Valdelucio, saw death at my feet, but my faith was so great that I was cured.

"Before Irma Dulce I said, do a miracle."

Food Safety Scare Grows as China Seizes 30,000 Tonnes of Tainted Chicken Feet

Chicken feet are widely used in China as snacksReuters

Chinese police have seized more than 30,000 tonnes of tainted chicken feet and arrested 38 people involved in the sale, as the country's food woes continue to grow.

Chicken feet, one of the favourite snacks in China, are common on restaurant menus in the country. They are often broiled or put in soups.

The food products contaminated with hydrogen peroxide were seized from different provinces in the country, including the eastern province of Zhejiang, the official Xinhua news agency reported.

The police have raided and sealed nine factories in the provinces of Jiangsu, Anhui, Henan and Guangdong, Xinhua said. They are still hunting for 11 suspects.

The factories used hydrogen peroxide solutions as bleach and antiseptics, making the food item poisonous. Hydrogen peroxide is widely used in manufacturing and medical sectors as a disinfectant and bleach, but its use in food products could be detrimental to health.

The chemical, which causes health problems if consumed, may have been used to give the chicken feet a whiter, cleaner appearance.

Food safety has been a serious issue in China ever since the 2008 milk scandal when infants fell ill or died after consuming tainted milk powder.

Earlier in August, US ketchup maker HJ Heinz Co apologised to Chinese consumers after recalling some infant cereal due to excess levels of lead.

In July, Shanghai Husi Food, owned by US-based food supplier OSI Group LLC, was found to have sold chicken and beef past their expiry date to international food chains including McDonald's, KFC and Pizza Hut.

Subsequently, KFC and McDonald's said they stopped using products from the supplier, and apologised to Chinese consumers for the issue.

This is not the first time chicken feet are at the centre of a food scandal in China. In July 2013, police seized 20 tonnes of badly expired chicken feet – some of them as old as 46 years – from a warehouse.

India Expects First Quarter Growth Fastest in Two Years

A metro train travels through a residential area in Mumbai in June.Reuters

India's economy likely grew at its fastest pace in two years in the first quarter, with investments, manufacturing and construction activity bouncing back after Prime Minister Narendra Modi's pro-business regime assumed power in May.

Asia's third largest economy probably grew 5.3% between April and June, up from 4.6% between January and March 2014, the median consensus of a Reuters poll of over 40 economists showed.

The poll also showed that India's current account deficit (CAD) likely widened to $7.1bn (£4.3bn, €5.4bn) in the April-June quarter, as against a deficit of $1.2bn in the preceding three-month period, after tough restrictions on gold imports were lifted.

Economists however did not significantly alter their growth forecast for the financial year 2014-15, with the average at 5.4%.

New Delhi will put out the first-quarter's GDP figures on 29 August.

Deutsche Bank Forecast

Deutsche Bank economists Taimur Baig and Kaushik Das have forecast India's first-quarter GDP growth to rise to its highest level in eight quarters.

They also cautioned that investors had "begun expressing concern" over New Delhi's "perceived lack of urgency in articulating a time bound gameplan for big bang reform," particularly with prime minister Narendra Modi's near three-month old regime focusing "on improving ground execution rather than big bang reform".

The Indian economy remains on track to expand by about 5.8% in the financial year to March, 2015, the finance ministry's top official said on 21 August.

Finance Secretary Arvind Mayaram also said India's industrial production data suggested that corporate order-books were building up.

Mayaram said he hoped that the Reserve Bank of India (RBI) will not leave interest rates high for longer than necessary. Falling oil prices will wipe out the cost of diesel subsidies and the government will stick to its fiscal deficit target, he added.

The Indian economy expanded by just 4.7% in the financial year 2013-14, marking the second full year of sub-5% growth.

China Investigates Microsoft's Sale of Media Player and Web Browser in Antitrust Probe

Microsoft

China noted that tech giant Microsoft has yet to fully cooperate with the ongoing anti-monopoly investigation against it, demanding that the company provide its software sales data.

Zhang Mao, the head of the State Administration for Industry and Commerce (SAIC), told reporters that the company has expressed willingness to cooperate with the investigation.

"After multiple meetings including at high levels, they've expressed a willingness to respect Chinese law and collaborate with investigating officials," Zhang said.

He added that the company has to provide details about the sales of its software including Windows, Office, Media Player and Internet Explorer.

"Microsoft is suspected of incomplete disclosure of information related to Windows and Office software, as well as problems in distribution and sales of its media player and browser," said Zhang.

He did not provide further details into the probe.

The antitrust probe against the company comes after an industry complaint related to compatibility and bundling issues with Windows and Office software.

Microsoft faced lawsuits in the US and EU over its bundling of web browser and media player in its popular Windows operating system, which has become dominant in recent decades.

In the US, Microsoft settled a case with the Justice Department in 2001 over its bundling of Internet Explorer in Windows.

In 2004, the EU ordered Microsoft to pay a €497m ($656m, £396m) fine over bundling of the media player with Windows.

The SAIC had earlier raided Microsoft offices in Beijing, Shanghai, Guangzhou and Chengdu at the end of July for alleged breach of antitrust laws, and later extended the probe into the company's offices in Liaoning, Fujian and Hubei.

The state agency also warned Microsoft against interfering with the ongoing anti-trust probe.

In May, China's central government offices were banned from using Microsoft's latest operating system, Windows 8, after the US Justice Department charged five Chinese military members with hacking the systems of US companies to allegedly steal trade secrets.

The trade and political relations between the countries have recently been deteriorating over spying concerns, and both countries have targeted big companies especially in the technology sector.

China's antitrust regulator earlier said that US chipmaker Qualcomm enjoys a monopoly in the world's second largest economy. It is also probing Qualcomm's Chinese subsidiary for allegedly overcharging and abusing its market position in wireless communication standards.

On 4 August, China's procurement agency dropped antivirus software providers Symantec Corp and Kaspersky Lab - from the US and Russia, respectively - from a list of approved suppliers of security software.

New Jersey Yeshiva Student Disappears in Jerusalem Forest

Aaron Sofer(Facebook)

Israeli police have launched a search for a young New Jersey Yeshiva student who disappeared during a hike in a forest outside Jerusalem last week.

Aaron Sofer, 23, of Lakewood, went hiking with a friend on a rocky slope in the Jerusalem forest on 22 August. They separated and soon after Sofer went missing.

New Jersey politicians appealed for more help from both the US and Israeli governments to find Sofer, who is an ultra-Orthodox student at a Yeshiva Jewish religious school.

Lakewood Council member Meir Lichtenstein said the area where the student went missing "is bordered by Jewish communities and by Arab communities, so it is very concerning". Sofer's parents travelled to Israel and demanded the Israel Defense Forces (IDF) be involved in the search.

"A physically, mentally and emotionally healthy young man does not go missing for 72 hours," said Sofer family spokesman, Dov Hirth, according to the Jerusalem Post. "The family is not satisfied with the way the search and rescue operation has been handled thus far."

In the same woods, the burned body of a Palestinian boy, Mohammed Abu Khdeir, was found. He was allegedly killed in retaliation for the kidnap and subsequent murders of three Israeli teens; 16-year-olds Naftali Frankel and Gilad Shaar and 19-year-old Eyal Yifrach.

Israeli police spokesman Miki Rosenfeld said authorities were following all leads in their investigation, including "nationalistic motives".

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LG G3 Stylus Will Take On Galaxy Note 4 at IFA 2014

Having leaked earlier this month, LG has officially launched the G3 Stylus ahead of the IFA 2014 trade show next week.LG

The G3 Stylus will be officially showcased at the IFA trade show in Germany next week, but ahead of the launch LG has revealed most of the specifications of its latest large-screen device.

The LG G3 Stylus will feature the same size screen as the company's G3 flagship device, but rather than the searingly sharp Quad HD resolution (2560 x 1440 pixels), the 5.5in display on the Stylus will have a relatively low resolution of 960 x 540 pixels, meaning the pixel density will be just 200 pixels per inch (ppi).

Add to this a below-par processor, just 1GB of RAM and only 8GB of storage and it is clear that the Stylus will not be challenging the company's G3 on the specs front. The company will be hoping a proprietary Rubberdium stylus pen, which comes with bundled productivity and entertainment apps will be enough to attract buyers.

The problem for LG is that the dominant force in the phablet market, Samsung, will also launch the latest version of its market-defining Note series at IFA.

The Galaxy Note 4 is set to feature the same size 5.7in screen seen in last year's model but the resolution will be significantly increased to 1440 x 2560 pixels, giving it a pixel density of 515ppi - just short of the LG G3's market leading 534ppi and much higher than the G3 Stylus.

LG has said the G3 Stylus will go on sale in Brazil in September with markets in Asia, Middle East, Africa, and CIS to follow.

The fact the large phone is not coming to developed markets like western Europe or the US indicates that LG is carefully picking where it will take on Samsung for a slice of the phablet market.

No pricing has been announced for the G3 Stylus yet.