China supports Russian version of extension plan of UN mission in Syria

China's UN ambassador Li Baodong says China supports the plan proposed by Russia on the extension of the UN monitoring mission in Syria.
Li says the Russian version shares same position with China.
A stricter plan, threatening sanctions against Syria, was proposed by Britain.
Li Baodong also says China will continue to support the peace efforts of the UN-Arab League envoy Kofi Annan.
The 15-member UN Security Council is now meeting to decide the future of the mission, whose mandate expires this Friday.
Heavy fighting reported in Damascus

The Syrian capital Damascus is reported to have suffered one of its worst days of fighting on Monday since the uprising started in the country 16 months ago.
Some repots say that armored personnel carriers and tanks had entered the Midan district of the capital – a mainly Sunni Muslim area.
Meanwhile, diplomatic moves to end the bloodshed continue ahead of the end of the UN Observer Mission mandate on Friday.
The Russian Minister Sergei Lavrov has accused western allies of 'blackmail' over a new UN draft resolution threatening Syria with more sanctions.
China supports ASEAN integration

The Chinese foreign ministry says the country will continue to support the community building of the Association of Southeast Asian Nations.
A foreign ministry spokesman says the recent ASEAN foreign ministers' meetings in Cambodia yielded positive results, though the meetings failed to get a joint statement.
The spokesman says the meetings show the Southeast Asian countries are still willing to strengthen regional cooperation and achieve common development.
China SOEs' January-June Profit Down 11.6% on Year

China's state-owned enterprises, excluding financial enterprises, have posted an 11.6% decline in combined profits for the first half of this year.
Data from the Ministry of Finance shows this country's SOE's pulled in profits of just over 1 trillion yuan in the first six months.
Companies in the transportation, nonferrous metal, chemical, petrochemical and construction material sectors posted significant year-on-year declines in net profit during the first half of 2012.
Tobacco, automobile and telecom sectors posted the largest profit increases in the same period.
Mubarak returns to Tora prison

Former Egyptian President Hosni Mubarak has been sent back to prison.
Egypt's general prosecutor made the decision following an improvement in Mubarak's health.
The 82-year old was hospitalized last month after suffering a stroke.
It was widely believed Mubarak was near death when he was first admitted.
North Korea names new senior army leader

North Korea has awarded Hyon Yong Chol the title of vice marshal of the Korean People's Army.
The official KCNA news agency reports that decision was made by the Central Military Commission of the Workers' Party of Korea and the National Defense Commission.
The announcement came after the country's army chief Ri Yong Ho was relieved of all his duties, reportedly due to illness.
US navy ship fires at boat in Persian Gulf

A US military supply ship has fired at a small boat in the Persian Gulf after it came too close.
At least one Indian fisherman onboard the boat was killed and three others wounded.
The US navy says the US fuel resupply ship fired upon the small motor vessel after it disregarded warnings and rapidly approached the U.S. ship at a port southwest of Dubai.
U.S. FDA OKs first drug to prevent HIV infection

Health regulators in the United States have for the first time approved a drug aimed at preventing HIV infection.
The drug Truvada has been developed for people at high risk of HIV infection or those whose partners may already be infected by the virus.
The drug is believed to reduce the risk of infection by up to 73 percent. However, many health campaigners in the US are opposing the approval of Truvada,
They fear that its use may engender a false sense of security among those in high risk groups. Also, they claim Truvada could lead to the development of a drug-resistant strain of the HIV virus.
Moody's Slashes Ratings Of 13 Italian Banks

Moody's has just downgraded 13 Italian financial institutions including some of the country's largest banks Intesa Sanpaolo and Unicredit.
Long-term deposit and debt ratings at Intesa Sanpaolo and Unicredit were cut to Baa2 from A3 in line with the country's sovereign rating, with a negative outlook on all ratings.
It downgrades by one notch seven institutions and two notches for the remaining six.
IMF lowers 2012 global growth estimate

The International Monetary Fund (IMF) has cut the global economic growth rate to 3.5 percent for 2012.
According to its quarterly update, emerging economies are will expand at 5.6 percent and advanced economies would grow 1.4 percent this year.
The IMF said China's economy would grow 8 percent in 2012 - half a point higher than the figure projected here - and 8.5 percent in 2013
Google's Marissa Mayer named Yahoo CEO

Marissa Mayer, one of the top executives at Google, will be the next C.E.O. of Yahoo.
According to The New York Times report, In addition to her role as CEO, she will become a Yahoo board member.
Mayer also sits on the board of Wal-Mart
Mayer's choice as Yahoo's CEO comes as a surprise.
She is the company's fourth CEO in less than four years.