Samsung Electronics today posted a better-than-expected 10 per cent increase in first quarter profits, on robust sales of the South Korean electronics giant's new Galaxy S7 smartphone.
	The world's largest smartphone producer said operating profit in the January-March period was expected to reach around 6.6 trillion won (USD 5.6 billion), up from 6.0 trillion won a year ago.
	The profit figure was substantially higher than the 5.53 trillion-won average of analysts' estimates compiled by Bloomberg News, and up from the 6.1 trillion won posted in the fourth quarter of 2015.
	The result will encourage shareholders after a disappointing 2015 that saw Samsung lose more than USD 8.0 billion in market value, with its flagship smartphone business sandwiched by top-end rivals like Apple's iPhone and lower-end devices from fast-growing Chinese outfits like Huawei and Xiaomi.
	In an effort to defend its smartphone share, Samsung rolled out the latest version of its flagship Galaxy smartphone in .

Samsung flags better-than-expected Q1 profit rise

PTI Automatic

The World Trade Organization today revised its 2016 global trade forecast downward by more than one percentage point, warning that a slowdown in China and broad market volatility continued to threaten growth.
	In September, the WTO estimated that global trade would rise by 3.9 per cent this year, but lowered that projection to 2.8 per cent, in an updated forecast.
	"Trade is still registering positive growth, albeit at a disappointing rate," WTO director general Robert Azevedo said in a statement.
	Various factors were continuing to apply downward pressure on global commerce, the Geneva-based body said.
	The rout on commodities prices has shown few signs of reversing, while the full extent of the slowdown in China -- the world's top commodities consumer -- remains uncertain.
	The WTO listed "a sharper-than-expected slowing in China (and) worsening financial market volatility" as factors that could further suppress global trade this year.
	But, the 2.8 per cent growth forecast could ...

WTO cuts 2016 global trade forecast to 2.8 per cent

Human Rights Watch said today that bombs supplied by the United States were used in Saudi-led air strikes on a market in Yemen that killed at least 97 civilians including children.
	The two strikes in the northern village of Mastaba on March 15 "caused indiscriminate or foreseeably disproportionate loss of civilian life, in violation of the laws of war," HRW said in a statement.
	At least 25 children were among those killed, it said, reiterating its call for an end to arms sales to Saudi Arabia, which is leading an Arab coalition battling rebels in support of Yemen's government.
	HRW said that it conducted an on-site investigation and found remnants of "a GBU-31 satellite-guided bomb, which consists of a US-supplied MK-84 2,000-pound bomb mated with a JDAM satellite guidance kit, also US-supplied."
	The accusation came as US Secretary of State John Kerry visited the Gulf for talks with Washington's traditional allies, including Saudi Arabia, which has led a military campaign against ..

HRW says US bombs used in deadly Yemen market strikes

Three people were wounded today when two Katyusha-type rockets fired from an area in Syria controlled by Islamic State (IS) jhadists slammed into the centre of a Turkish town close to the Syrian border, a report said.
	The rockets hit the centre of the town of Kilis at around 1115 IST, the Dogan news agency reported. Ambulances were sent to the scene as police threw a security cordon around the area.
	Dogan said one of the rockets hit a building used by Syrian refugees and two of those wounded were Syrian citizens.
	Another person was wounded by the second rocket and police also evacuated a school nearby.
	Pictures broadcast by Turkish television showed the rockets had badly damaged masonry and windows on one building.
	Kilis, where according to Turkish officials Syrian refugees now outnumber the native Turkish population, has been hit several times by IS fire.
	In March, two people including a four-year-old child were killed by rocket fire there, while in January a janitor was killed 

Three wounded in Turkey as 'IS rockets' hit town centre

The head of a Austrian regional bank became today the latest casualty of the Panama Papers scandal, announcing his resignation but denying any wrongdoing.
	"At the end of the day what made the difference in taking this step was the prejudgement through the media of Hypo Vorarlberg and of myself in recent days," Michael Grahammer, 51, said.
	"I remain 100-percent convinced the bank at no time contravened laws or sanctions," he said in a statement, ading that he said he will remain in office until a successor is named.
	Hypo Vorarlberg was named in a vast trove of documents leaked Sunday related to a Panama law firm allegedly helping the rich, famous and infamous hide assets offshore to avoid tax, circumvent sanctions or launder money.
	Austria's financial market authority (FMA) yesterday began looking over the bank's accounts, and those of fellow Austrian lender Raiffeisen Bank International (FBI), following the allegations.
	Hypo Vorarlberg, majority owned by the state of Vorarlberg, .

Panama scandal claims scalp of Austrian bank chief

Around 250 Syrian civilians are feared kidnapped after an attack by the Islamic State jihadist group on a cement factory east of Damascus, residents said today.
	"We haven't been able to reach our family members since noon on Monday after an attack by Daesh on the factory," said a resident of the town of Dmeir, 50 kilometres (30 miles) east of Damascus, using the Arabic acronym for IS.
	"We have no information about where they are," the resident added.
	An administrator at the plant said 250 employees had been unreachable since Monday.
	The Syrian Observatory for Human Rights said "dozens" of staff were believed to have been seized by IS from the cement factory and taken to an unknown location.
	The Badiyah cement factory lies outside Dmeir, which has seen fierce fighting in recent days as government forces have shelled IS positions inside the town.
	The Observatory said 18 civilians were killed in government shelling of the town.
	A Syrian security source told AFP that IS fighters ...

250 Syrians missing after IS attack east of Damascus:residents

A Malaysian parliamentary inquiry presented today said a state-owned fund linked to Prime Minister Najib Razak made more than USD 3 billion in unexplained overseas payments, calling for its former CEO to be investigated.
	The report by the parliament's Public Accounts Committee (PAC) marked the first time an official Malaysian probe has suggested misconduct or recommended action over the scandal swirling around Najib.
	Najib, who founded the state investment fund 1Malaysia Development Berhad (1MDB) in 2009, has battled for months to fend off allegations that billions of dollars were looted from 1MDB in complex overseas financial transactions.
	He and 1MDB have consistently denied wrongdoing.
	But the PAC said more than USD 3 billion in unapproved payments were made from 1MDB funds, and alleged "restrictions and weaknesses" in 1MDB's management.
	"The PAC is of the opinion that the former CEO of 1MDB Shahrol Azral Ibrahim Halmi has to take responsibility for those restrictions and ...

Malaysia inquiry cites murky fund payments, urges probe

Twenty-one years after clambering through the ropes for his first professional fight, Manny Pacquiao will make the long walk to the ring for what could well be the final time on Saturday in Las Vegas.
     It will complete one of the most vivid rags-to-riches journeys in a sport that is famous for them, an odyssey which has taken him from a USD 20 purse to a reported USD 20 million payday for this weekend's finale against Tim Bradley.
     A lot has changed for Pacquiao since January 25 1995, when as a skinny 16-year-old he outpointed Edmund Enting Ignacio in a four-round bout before a few hundred spectators on the wild and rugged Philippines island of Mindoro.
     Pacquiao traveled to that fight by ferry, buying his own ticket for the three-hour boat ride from Manila for a contest which earned him 1,000 pesos, approximately USD 21 dollars at today's rate of exchange.
     "It was very small," Pacquiao recalled here Wednesday as he prepared for his third and final meeting with ...

From $20 to $20 million, Pacquiao's journey to final payday

Shares in Chinese telecoms giant ZTE plunged 16 per cent today as it resumed trading after the US announced a probe over alleged violations of trade sanctions against Iran, which the firm admitted could lead to civil and criminal liabilities.
	Washington slapped restrictions on ZTE and three linked companies last month after an investigation alleged the firm illicitly re-exported controlled items from the United States to sanctioned countries including Iran.
	The curbs require ZTE, China's second-biggest telecoms equipment maker, to have specific licences before shipping US- made items to the parent company or the other three named firms.
	The move threatens the company's ability to buy technology hardware and software in the US.
	"The investigations are still in progress, and may result in criminal and civil liabilities under US laws," the company's recently appointed chairman Zhao Xianming said in a statement to the Hong Kong Stock Exchange late yesterday. "The final outcome of the .

China telecoms giant ZTE dives 16% over US sanctions probe

Chinese authorities have detained the head of a group of finance companies accused of defrauding more than 100,000 investors, as he sought to board a private plane allegedly hired to take him to Europe for his wedding, media reports and police said.
	Xu Qin, described as the "controller" of the Zhongjin- linked companies, was held at an airport in Shanghai as he attempted to fly to Italy for the ceremony with other executives, on an aircraft chartered for the purpose, media reports said.
	He was among more than 20 managers of Zhongjin detained by police and accused of swindling investors through falsifying operations and inflating business performance, according to a police statement released yesterday.
	The Zhongjin stable of companies, headquartered in commercial hub Shanghai, pooled money from investors for a variety of funds and projects, with the promise of high returns.
	Police gave no estimates for the size of the case, but reports said it involved more than 130,000 investors ..

Runaway groom: China nabs fraud suspect at airport

Two pupils at an exclusive New Zealand school were hospitalised with neck wounds when a production of "Sweeney Todd: The Demon Barber of Fleet Street" became all too real, officials said today.
	The 16-year-old boys were taking part in the musical about a murderous barber who slits his victims' throats with a straight razor when they were hurt on last night, the New Zealand Herald said.
	The St John Ambulance Service told the newspaper the boys received "cuts to the neck", with one sustaining serious injuries and the other's condition listed as moderate.
	"We believe it was a performance of some description that went wrong," a spokeswoman said after the pair were taken to Auckland Hospital.
	Saint Kentigern's head of college Steve Cole said the school was "distressed" and offering counselling to all students, including the play's cast and crew.
	"We have been talking with both injured students and their families and are pleased to report that the boys are in a stable condition and ...

NZ pupils' throats cut for real in Sweeney Todd play mishap

Manny Pacquiao believes his 11-month absence from boxing following last year's defeat to Floyd Mayweather has left him hungrier than ever as he prepares for his farewell fight against Tim Bradley here on Saturday.
     The 37-year-old Filipino insists he will retire from boxing after the third instalment of his rivalry with Bradley, vowing to focus on a political career in his homeland where he is seeking election to the Senate.
     While Pacquiao has carefully kept a door ajar to extending his career, he told reporters at the MGM Grand in Las Vegas on Wednesday that he views Saturday's bout as an opportunity to sign off in style.
     "It's really important for me to win this fight, to win convincingly," Pacquiao said. "It's part of my legacy."
     Asked if he still retained the killer instinct which helped him win an unprecedented eight world titles at eight different weight classes, Pacquiao said his long absence had served to renew his enthusiasm for the ring.
     "I still have 

Pacquiao vows to sign off in style

Seven-time Grand Slam Champion Venus Williams powered into the third round of the WTA clay court tournament at Charleston with a 6-4, 6-2 victory over Alison Riske.
     Williams, seeded third and seeking a 50th career WTA title this week, fired 20 winners, displaying a sharp service game in a match lasting less than 90 minutes.
     Things didn't go so well on the green clay of Charleston for second-seeded Swiss Belinda Bencic, beaten 6-1, 6-1 by Russian Elena Vesnina.
     Bencic, the world number 10, appeared to be struggling with the same back trouble that forced her out of her opening match in Miami.
     Vesnina took full advantage, advancing in just 56 minutes.
     She'll next face Lourdes Dominguez, who reached the third round when Canadian Eugenie Bouchard retired with an abdominal injury.
     Spain's Dominguez was leading 6-4, 1-6, 1-0 when Bouchard decided she couldn't continue.
     "It's the same one (from last year), which is why I'm concerned and why I did retire," ...

Venus powers past Riske, Bencic toppled

Dmitry Shlyakhtin, a little-known regional official, landed one of the toughest jobs in sports when he was elected to head Russia's scandal-ridden athletics federation.
     Three months into the job, the 48-year-old bureaucrat is working to overturn a ban by the International Association of Athletics Federations (IAAF) over allegations of systematic doping that could see Russian track and field stars sidelined from the Rio de Janeiro Olympics in August.
     While world track and field authorities remain sceptical about the country's prospect of competing in Rio, Shlyakhtin insisted in an interview with AFP that Moscow is making progress.
     "The process has started, maybe not as fast we would have wanted," Shlyakhtin told AFP. "Of course we have lots to do. But many things are being done."
     Shlyakhtin -- a low-profile junior runner whose election came as a surprise to Russia's athletics world --  told Russian media upon his election that there was a "50 to 60 percent" chance ..

Russia faces tough task overturning ban as Rio decision looms

Australia will play two day-night Tests against South Africa and Pakistan next southern summer in a revamp of home international scheduling, a report said on Thursday.
     Following the success of the inaugural pink-ball Test against New Zealand in Adelaide last year, Cricket Australia will stage two more day-night Tests against touring nations South Africa and Pakistan, the Sydney Morning Herald reported.
     Australia will face the South Africans under lights in Adelaide and Pakistan at Brisbane's Gabba ground, the newspaper said.
     Cricket Australia is expected to finalise its international and domestic schedules for the 2016-17 season later this month.
     Under scheduling changes, the Herald said the Gabba would forfeit its customary hosting rights to the first Test of the season and instead host the opening match of the Australia-Pakistan series in December.
     The newspaper said the season would kick off with a Test at Perth's WACA Ground between Australia and South ...

Australia to play pink-ball Tests against SA, Pakistan: report

Away goals by Kevin De Bruyne and Fernandinho handed Manchester City a 2-2 first-leg draw at Paris Saint-Germain to give the English side the edge in their Champions League quarter-final tie.
     On a night that will be remembered for some comical defending and a Zlatan Ibrahimovic penalty that was saved by City goalkeeper Joe Hart, the Premier League side twice punished mistakes by their hosts.
     De Bruyne put City ahead on 38 minutes, only for Ibrahimovic to level after an embarrassing mix-up in the visitors' defence soon after.
     Adrien Rabiot then put PSG ahead just before the hour, but Fernandinho made it 2-2 on 72 minutes and ensured the French giants will be chasing the tie in next Tuesday's second leg.
     "It was a crazy game and we played our part in a great game of football," Hart told BT Sport.
     "It's up to us to make the away goals count. We are making history for the club and we don't want it to end."
     City were appearing at this stage for the first time .

City in driving seat after slapstick night in Paris

Zinedine Zidane admitted Real Madrid suffered an El Clasico hangover as they crashed to a 2-0 Champions League quarter-final, first-leg, defeat at Wolfsburg on Wednesday.
     Just five days after ending Barcelona's 39-game unbeaten run with a 2-1 away win, Real were humbled as Wolfsburg ignored their struggling mid-table form in Germany's top flight.
     Real never recovered as first-half goals from Swiss defender Ricardo Rodriguez and Maximilian Arnold put the hosts 2-0 up at the Volkswagen Arena with 25 minutes gone.
     Wolfsburg now have the upper hand ahead of Tuesday's return leg at the Bernabeu.
     "I'm not happy, above all with the first-half. This can happen if you don't play with intensity from the start," said coach Zidane, who made just one change from the team which beat Barca.
     "We wanted to play here just like we did on Saturday, it was an intensive game for us (in Barcelona) and we were flat in the first-half here.
     "Now we have a chance in the return leg .

Zidane fuming as Real crash at Wolfsburg

Fiji lifted emergency restrictions today after the Pacific nation avoided a direct hit from Tropical Cyclone Zena and the storm weakened as it moved offshore.
	Authorities had imposed a nationwide curfew as Zena bore down on the main island Viti Levu overnight yesterday, fearing a repeat of super cyclone Winston, which killed 44 people in February.
	But meteorologists said Zena weakened, rather than intensifying, and tracked further south than expected, staying out to sea and leaving the island relatively unscathed.
	"After a blissfully uneventful night across Fiji we can give thanks," Suva's Nadraki weather forecasting service said.
	"All who planned for the worst and hoped for the best were rewarded for their efforts by having everything turn out okay."
	The cyclone was preceded by heavy rain and flash flooding that claimed two lives, but the UN humanitarian agency OCHA said it could have been much worse.
	"Viti Levu has been spared a second major disaster in as many months," it ...

Fiji 'spared' as cyclone weakens

Reform-minded French Economy Minister Emmanuel Macron has launched his own political movement, declaring he wanted to promote "new ideas" that were neither "of the right nor the left" a year ahead of the next presidential election.
	Macron, a 38-year-old former banker who was brought into the Socialist government in 2014 to try to turn around the ailing French economy, yesterday said the movement called "En Marche" (On the move) would spur debate on how to tackle "blockages" in French society.
	"It will not be a movement to produce yet another presidential candidate, that is not my priority today," he assured.
	His aim, he said, was to win over a majority of French people to "new ideas for the country" that could be implemented in the future.
	"That's the only ambition one should have. It's radical, it seems a bit crazy talking about it tonight, but there is such energy in the country!" the fresh-faced minister said.
	Over the past year-and-a-half, Macron has become the face of the ...

French economy minister launches own political movement

Entertainment website Gawker has challenged a jury's decision to award USD 140 million to former wrestler Hulk Hogan, saying it expected to be "fully vindicated" in the sex tape case.
	New York-based Gawker yesterday filed legal motions requesting a new trial or a reduction in the amount it must pay to 62-year-old Hogan, whose real name is Terry Bollea.
	Hogan had accused the site of invading his privacy when it posted a sex tape featuring him and a friend's wife.
	The March trial in the Florida city of St Petersburg was closely watched by legal experts, as defence attorneys argued that publication of the sex tape was protected by the First Amendment of the US Constitution.
	"Gawker is now beginning the process of challenging the jury's verdict in a trial where key evidence was wrongly withheld and the jury was not properly instructed on the constitutional standards for newsworthiness. So we expect to be fully vindicated," the website said in a statement about its Monday court ...

Gawker challenges USD 140 mn decision in Hogan sex tape case

The White House has said that President Barack Obama called Myanmar's President Htin Kyaw and de facto leader Aung San Suu Kyi, praising the move toward civilian-led government.
	Obama yesterday called the pair to offer his congratulations, as military hardliners try to limit Suu Kyi's formal role.
	Banned from becoming president by a junta-era constitution, Suu Kyi has cemented conftrol over the country's first civilian-led government in decades by taking on a string of senior roles in the new administration.
	She has vowed to rule "above" the president, picking school friend and close aide Htin Kyaw for the role.
	According to the White House "the president commended Daw Aung San Suu Kyi's determined efforts, over the course of many years and at great personal cost, to achieve a peaceful transfer of power and advance national reconciliation.

AFP

AFP

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