New Italian premier-designate Paolo Gentiloni raced to put together a cabinet team today as the market welcomed the apparent rapid resolution of the country's political and banking crises.
	Gentiloni, 62, was asked by President Sergio Mattarella yesterday to form a new centre-left government that will guide Italy to elections due by February 2018, following the resignation of outgoing Prime Minister Matteo Renzi.
	Opposition parties slammed the softly-spoken former foreign minister as little more than a Renzi puppet, but Milan's FTSE Mib saluted the move, up 1.22 per cent at 1030 GMT.
	Silver-haired Gentiloni, a one-time student radical from an aristocratic family, is expected to keep the cabinet largely untouched and present his final list to the president by the close of play today.
	He will then seek parliamentary approval of his new government on Tuesday or Wednesday.
	The biggest cabinet seat to fill is the one left vacant by Gentiloni himself, that of foreign ...

Italy's Gentiloni races to form new cabinet

PTI Automatic

The Syrian army today recaptured a major district of Aleppo, leaving rebel fighters cornered in a small pocket as the battle for the city entered its "final phase".
	President Bashar al-Assad's forces held more than 90 per cent of the onetime opposition stronghold of east Aleppo, a monitor and military official said, and appeared on the verge of retaking the entire city.
	A Syrian military official in Aleppo told AFP the "operation in eastern neighbourhoods is entering its final phase", as fierce clashes were reported in the few districts of the city left under rebel control.
	The fall of Aleppo would deal the rebels their worst defeat since the beginning of Syria's conflict in 2011, and leave the government in control of the country's five major cities.
	The Syrian Observatory for Human Rights monitoring group reported early today that the army had captured the large Sheikh Saeed district in southeast Aleppo.
	Syrian official media confirmed the retaking of Sheikh Saeed, with state ..

Syria army takes Aleppo district, battle in 'final phase'

The death toll from a fireball caused by a crash involving a tanker carrying flammable materials rose to 40 today, as Kenya faced calls to improve safety on its perilous roads.
	The east African nation was left reeling by devastating scenes from the crash late Saturday in which the tanker ploughed into 11 vehicles, leaving a trail of incinerated wreckage and bodies along the main road leading west from Nairobi towards Uganda.
	Officials initially put the death toll at 33, but after scouring the scene, rescue workers -- some in hazmat suits -- found six more bodies in the bush of people who tried to flee the scene, a senior police officer told AFP.
	And one of the injured succumbed to their wounds in hospital.
	"We have 34 bodies at Chiromo mortuary and six at Kenyatta University mortuary," said Nathaniel Kigotho, director of the National Disaster Operations Centre.
	He said all of the victims would have to undergo DNA testing to be identified.
	The dead include 11 officers of the ...

Death toll from Kenya tanker fireball hits 40

Cricket legend Arjuna Ranatunga announced today he was reviving his bid to build a record-breaking 100-metre tall Christmas tree in Sri Lanka's capital despite opposition from the Catholic church.
	Ranatunga, who is also a government minister, said the project was back on track after Prime Minister Ranil Wickremesinghe spoke to the Archbishop of Colombo Malcolm Ranjith.
	"The work resumed this morning after the prime minister's intervention with the archbishop," Ranatunga said in a statement to AFP. "It will be ready for Christmas."
	There was no immediate comment from the archbishop who described the scheme as "wasteful expenditure" last week and said that the estimated USD 200,000 cost would have been better spent on alleviating poverty.
	Ranatunga, who led Sri Lanka to victory in the 1996 World Cup, has been at the forefront of the project to first raise the money and then erect a 325-foot artificial tree in central Colombo.
	The 53-year-old, who represents a largely Catholic ...

Sri Lanka bids for Xmas tree record despite church snub

World demand for coal will slow over the next five years as renewables and energy efficiency gain traction, the International Energy Agency predicted today.
	But much of Asia will remain hooked on coal which, while polluting, is also affordable and widely available, the Paris-based body said in a report.
	"Because of the implications for air quality and carbon emissions, coal has come under fire in recent years, but it is too early to say that this is the end for coal," said Keisuke Sadamori, the director of the IEA's energy markets and security directorate, in a statement.
	By 2021, the share of coal in the world's power generation mix is projected to drop to 36 percent, compared with 41 per cent in 2014.
	In 2015, global coal demand declined for the first time this century.
	The big unknown in this scenario is China, which accounts for half of the world's demand for coal and almost half of its production, "and more than any other country influences global coal prices".
	Coal-fired ..

Coal demand to burn slower over next 5 years: IEA

Romania's corruption-tainted left scored an resounding election victory a year after a nightclub fire drove them from office, partial official results showed today.
	Broadly confirming exit polls from Sunday's parliamentary election, the Social Democrats (PSD) won 45.2 per cent of the vote, the electoral commission said, based on 60 per cent of ballots counted.
	The rival centre-right National Liberal Party (PNL) trailed on 20.2 per cent, while their allies the Save Romania Union (USR), newly created by a mathematician-turned-activist garnered 9.3 per cent.
	The PSD's likely coalition partners, the liberal ALDE party, cleared the five-percent hurdle needed to enter parliament, as did ex-president Traian Basescu's People's Movement Party (PMP).
	The election was held little over a year after huge public anger over a blaze in a nightclub that killed 64 people and forced premier Victor Ponta and his PSD-led government to quit.
	It remained unclear today who would become prime minister, ..

Thumping election win for Romanian left: partial results

The EU and Cuba today signed a deal to normalise ties that had been blocked for decades by human rights concerns under revolutionary icon Fidel Castro.
	Cuba had been the only Latin American country that did not have a so-called "dialogue and cooperation" deal with the EU covering issues such as trade, human rights and migration.
	But EU ministers last week agreed to drop a policy in place since 1996 which stated that Cuba first had to improve its human rights standards before getting closer links with the bloc.
	The new agreement was signed by Cuban Foreign Minister Bruno Rodriguez Parrilla, European Union foreign affairs chief Federica Mogherini and representatives from the 28 EU member states at a Brussels ceremony capping years of difficult negotiations.
	"Economic links with Europe will continue to be a priority for Cuba as we build a socialist economy," Parrilla said.
	Castro died last month after more than 50 years at the helm of a self-styled Socialist paradise reviled by the .

EU, Cuba sign pact to normalise relations

Five former English Football Association bosses have hit out at the governing body and urged the British government to reform an "out of balance" organisation filled with "elderly white men".
     David Bernstein, David Davies, Greg Dyke, Alex Horne and David Triesman grouped together to write to Damian Collins, chairman of the Culture, Media and Sport Committee.
     They say the "well-meaning individuals" in charge of the FA are "collectively unrepresentative of English society" and "under-qualified" to deal with modern football.
     The group also called for legislation to be passed, blaming the FA's "inability to reform and modernise in a fast-changing world".
     The letter said the FA lacks independence and makes decisions based on vested interests due to a lack of checks and balances. It also said the FA was resistant to change and that parliament needs to step in.
     The letter concluded: "Football is a much-loved sport enjoyed by millions, and it has genuine cultural ...

Former FA chiefs hit out at governing body

Two whistleblowers and an investigative reporter in the "LuxLeaks" tax scandal return to court today for leaking thousands of documents that exposed Luxembourg's huge tax breaks for major international companies.
	Protestors from across Europe are expected in Luxembourg as the three men begin the appeal to a verdict that saw two of the defendants receive jail sentences last June.
	The LuxLeaks scandal sparked a major global push against generous deals handed to multinationals that grew even stronger after the Panama Papers revelations earlier this year.
	Former PricewaterhouseCoopers employees Antoine Deltour and Raphael Halet in June received 12-month and nine-month sentences, respectively.
	Journalist Edouard Perrin was acquitted of all charges, but was added to the appeal after the Luxembourg prosecutor argued that his case was indelibly linked to the others.
	The re-trial, following an appeal by Deltour and Halet, is due to last from Monday until December 21.
	In his June ruling, .

LuxLeaks whistleblowers appeal jail sentences

Turkey hit Kurdish militant targets in northern Iraq less than 24 hours after twin attacks in Istanbul killed 38 that were claimed by a Kurdish splinter group, local media reported today.
	Late Saturday, a car bomb exploded outside the home stadium of football giants Besiktas and less than a minute later, a suicide attacker blew himself up by a group of police at a nearby park.
	Thirty police officers and seven civilians were killed, while there is one person who has yet to be identified.
	The attacks were claimed by the Kurdistan Freedom Falcons (TAK), which is seen as a radical offshoot of the outlawed Kurdistan Workers Party (PKK).
	The Turkish military, quoted by Dogan news agency, said it hit "separatist terrorist organisation members" yesterday evening, referring to the PKK.
	The armed forces said it struck targets in the Zap region of northern Iraq destroying the militants' headquarters as well as nearby shelters and gun positions.
	The PKK command is based in the Qandil ...

Turkey hits Kurdish militants in Iraq after attacks: report

Bahrain's appeals court today upheld a nine-year jail sentence against Shiite opposition chief Sheikh Ali Salman for inciting hatred and calling for regime change by force, a judicial source said.
	The verdict against Salman, whose Al-Wefaq movement was dissolved in July, was reimposed after the court of cassation had overturned the nine-year jail term in October.
	Salman, 51, is considered a moderate who has pushed for a constitutional monarchy in Bahrain, unlike hardline groups who have demanded the toppling the Al-Khalifa dynasty
	His arrest in December 2014 had sparked protests in Shiite-majority Bahrain.
	The Shiite cleric was sentenced in July 2015 to four years in jail after being convicted of inciting hatred in the Sunni-ruled Gulf kingdom.
	But the appeals court in May more than doubled his jail term to nine years after reversing an earlier acquittal on charges of calling for regime change by force.
	The court of cassation overturned that sentence on October 17 and ordered a .

Bahrain upholds jail sentence for opposition chief

Auto sales in China, the world's biggest car market and crucial to manufacturers worldwide, reached a new peak in November, data from an industry group showed today.
	Sales reached 2.94 million units last month, up 16.6 per cent year-on-year, the the China Association of Automobile Manufacturers (CAAM) said in a statement.
	Both production and sales set a "record high" in November, the statement said.
	Total auto sales in the first 11 months reached 24.9 million, CAAM data showed, exceeding the figure for the whole of 2015.
	But last month's growth slowed from October's 18.7 per cent and 26.1 per cent in September.
	A tax cut for small passenger cars, as well as stabilised economic performance have boosted car sales this year.
	China's factory activity last month grew at its fastest rate in more than two years, while producer prices rose at their fastest pace for five years.
	Some foreign manufacturers also saw record November deliveries, with US auto giant General Motors selling ...

China auto sales peak in November: group

Turkish police detained more than 100 pro-Kurdish Peoples' Democratic Party (HDP) officials today over alleged links to Kurdish militants in a country-wide operation, state media reported.
	The early-morning raids saw 118 HDP officials rounded up on suspicion of belonging to the outlawed Kurdistan Workers' Party (PKK) or producing propaganda for the group, state news agency Anadolu said.
	Part of an anti-terror probe, the sweeping arrest operation came after weekend attacks killed 38 people in Istanbul, mostly police, which were claimed by the Kurdistan Freedom Falcons (TAK), seen as a radical offshoot of the PKK.
	According to Anadolu, 20 officials in Istanbul -- including the HDP's provincial head in the city, Aysel Guzel -- were taken into custody while another 17 were detained in the Turkish capital, among them the party's Ankara chief Ibrahim Binici.
	The other detentions took place in the southern provinces of Adana and Mersin, Manisa in western Turkey as well as Sanliurfa in ...

Turkey detains over 100 pro-Kurdish party officials: media

Hong Kong's finance chief resigned today ahead of what is widely expected to be a tilt at the city leadership.
	John Tsang -- nicknamed "Mr Pringles" by local media for his resemblance to the crisp brand's mascot -- is seen as a more moderate alternative to current leader Leung Chun-ying, who said Friday he would step down in July.
	The city has become sharply divided under Leung, whose term has been marked by anti-Beijing protests. Opponents cast him as a puppet of the Chinese government squeezing the semi-autonomous city's freedoms.
	Tsang handed in his resignation to Leung Monday, a government statement said, adding it had been submitted to Beijing.
	The finance secretary has yet to confirm whether he will run for the leadership but his resignation is seen as a signal that he will enter the race. Candidates are not allowed to hold a government office if they want to stand for chief executive.
	Although Tsang has a better public image than Leung, he is still an establishment ...

Hong Kong finance chief resigns, tipped for leadership race

Thailand's new King Maha Vajiralongkorn has issued a mass prisoner pardon, a first act of "mercy" as monarch as he reaches out to his subjects following the death of his beloved father.
	Revered King Bhumibol Adulyadej died in October aged 88 after a seven-decade reign, leaving the politically febrile nation without its unifying figure.
	His only son, 64-year-old Vajiralongkorn, was proclaimed king in early December.
	But the thrice-divorced monarch is yet to draw the same level of devotion from a public well-versed in rumours over his private life.
	The prisoner pardon was Vajiralongkorn's "first chance since he succeeded the throne to show the king's mercy", according to a statement published Sunday in palace mouthpiece the Royal Gazette.
	Pardons were annual events under Bhumibol.
	Women jailed for first offences, some inmates who have served one third of their sentences, and prisoners with disabilities or serious illness were among those pardoned.
	The decree did not say how many .

New Thai king pardons prisoners in 'first show of mercy'

Dutch electronics giant Philips announced today the sale of a majority share in its Lumileds LED lighting business for USD 1.5 billion, after cancelling the sale earlier this year over US regulatory concerns.
	"Royal Philips today announced that it has signed an agreement to sell an 80.1-per cent interest in Lumileds to certain funds managed by affiliates of (US-based) Apollo Global Management," the Amsterdam-based company said in a statement.
	Philips said it expected the deal to net the firm approximately USD 1.5 billion (1.41 million euros) in cash and equity.
	The new move comes after Philips dropped a planned USD 2.8-billion sale to Beijing-based GO Scale in January when neither company could convince the US Committee on Foreign Investment (CFIUS) to clear the deal.
	"With this transaction, we will be completing an important phase of the transformation of our portfolio and I am satisfied that in the Apollo managed funds we have found the right owner for Lumileds," said Philips ...

Philips to sell Lumileds majority share for $1.5bn

Syria's army seized a major district on Aleppo's southeastern edges today, putting it in control of 90 per cent of areas once held by rebels in the city, a monitor said.
	The Syrian Observatory for Human Rights said forces loyal to President Bashar al-Assad seized the Sheikh Saeed district early today after fierce clashes ongoing since the previous afternoon.
	"The army is now in full control of Sheikh Saeed," Observatory head Rami Abdel Rahman told AFP.
	"Syrian regime forces are now in control of 90 per cent" of the one-time rebel areas in Aleppo's east, he said.
	Syria's second city, Aleppo had been divided since 2012 between government forces in the west and rebel groups in the east.
	In less than a month, a blistering offencive by Syria's army and allied militia has overrun most of rebel territory in the city.
	Air strikes pounded the remaining opposition-controlled districts of Aleppo through the night and into the early morning Monday, the Britain-based Observatory said.
	At ...

Syrian army seizes major southeast Aleppo district: monitor

New Zealand's socially conservative finance chief Bill English was sworn in as the country's new prime minister today following last week's shock resignation of his popular predecessor John Key.
	The centre-right National Party caucus unanimously backed English at a meeting today morning and he travelled to Government House in Wellington a few hours later to officially take over.
	State Services Minister Paula Bennett was named as deputy leader.
	English, 54, said he was "excited and humbled" to take the top job after eight years as Key's deputy and finance minister.
	"This will be a government supporting economic growth and ensuring that the benefits of growth are widely shared," he told reporters.
	National Party president Peter Goodfellow said English and Bennett offered "a good mixture of experience and fresh thinking".
	"Under their leadership, New Zealanders will continue to benefit from the stable government they expect, along with a dedicated focus on delivering results for ...

Bill English sworn in as New Zealand PM after Key exit

Jakarta's Christian governor Basuki Tjahaja Purnama is being prosecuted for blasphemy, an offence that carries a five-year jail term in Indonesia.
	The comments sparked widespread anger in the world's most populous Muslim-majority country and the case is now seen in part as a test of religious tolerance in Indonesia.
	But critics say it is also about politics as the governor's foes whip up anger to reduce his support.
	Purnama, better known by his nickname Ahok, is Jakarta's first non-Muslim governor for half a century and a member of the country's tiny ethnic Chinese minority.
	The 50-year-old has won huge popularity with his no-nonsense style and determination to clean up Jakarta, an overcrowded, disorganised and polluted metropolis of 10 million.
	But he has also faced constant opposition from hardline Islamic groups, who dislike a non-Muslim being in charge of Indonesia's capital.
	He is running for election in February.
	During a campaign stop in September, Purnama told a crowd ..

Why is Jakarta's governor on trial for blasphemy?

Sydney's famous New Year's Eve fireworks, which traditionally kick off the world's major celebrations, are set to be streamed live on Facebook for the first time, officials said today.
	The visual extravaganza in Australia's biggest city is already watched by more than a million people at Sydney Harbour and a further one billion via a television audience.
	Organisers hope the live stream will be viewed by more than 10 million Facebook users around the world.
	The announcement marks the latest push by the US social media giant to tap into live video as it competes with similar offerings from Twitter and Tumblr.
	"By making the most of digital technology only available this year, we can put Sydney's New Year's Eve fireworks show in the palm of people's hands around the world - right as it happens," Sydney Lord Mayor Clover Moore said in a statement.
	Some 90 per cent of visitors to Sydney during New Year's Eve say they travel to the harbour city specifically for the fireworks, according 

Sydney New Year fireworks to be live streamed on Facebook

Oil soared today following a landmark deal by Russia and other non-OPEC producers to join the cartel in capping output, in a bid to end a stubborn global glut that has hammered prices.
	In a bid to reverse a dramatic fall in income, Russia and 10 other non-OPEC states on Saturday said they will reduce their production by more than half a million barrels per day (bpd), the Organisation of the Petroleum Exporting Countries announced.
	The move marks the first time non-OPEC members have reached an agreement since 2001, and follows a similar agreement by OPEC last month.
	OPEC members had agreed to collectively reduce output by 1.2 million bpd beginning in January.
	At about 07300 IST, US benchmark West Texas Intermediate for January was up USD 2.28 at USD 53.78 while Brent crude was up USD 2.29 at USD 56.62.
	"OPEC and non-OPEC's signing of the production cut agreement over the weekend was clearly the catalyst, overlooking Saudi Arabia's record high production in November," said OANDA ...

AFP

AFP

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