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China, Russia to hold joint exercises in S. China Sea: Beijing

Vessels from China's South Sea Fleet take part in a drill in the Xisha Islands -- or Paracel Islands -- in the South China Sea on May 5, 2016Beijing (AFP) - China and Russia will hold joint naval exercises in the South China Sea in September, Beijing's defence ministry said Thursday, after an international tribunal ruled that there was no legal basis to the Asian giant's extensive claims in the area.

AP NewsAlert

BEIRUT (AP) — Syrian President Assad says he is offering amnesty to rebels who lay down arms, surrender over next 3 months.
Adidas lifts profit forecast for third time running

German sporting goods brand Adidas has lifted its profit forecast for the third time in six monthsGerman sporting goods brand Adidas lifted its profit forecast for the third time in six months on Thursday after better-than-expected preliminary results in the second quarter. The firm said it had earned a net profit of 291 million euros ($322.7 million) in the three months to June -- 99 percent more than the same period in 2015. Higher sales will push Adidas' net profit growth for the year to between 35 and 39 percent, the company said, at least 10 percentage points more than previously predicted.

Solar panels blaze at water park in Taiwan heatwave

Children play at the Taipei Water Park on July 28, 2016 as temperatures soar in TaiwanMore than 1,200 people were evacuated from a Taiwan water park after solar panels caught fire in the midst of a heatwave that has seen record power consumption as the island struggles to keep cool. Local media reported the fire in Taipei -- which left a swathe of solar panels at the park blackened and distorted -- could have been sparked by soaring temperatures. The Taipei water park's chief engineer Wang Ming-fu said the fire may have been the result of a short circuit due to high temperatures or the overheating of the panels, which have been in service for 10 years, Taiwan's Central New Agency reported.

Repsol Q2 profit down 30 percent due to restructuring costs

MADRID (AP) — Spanish energy company Repsol has posted a net profit drop of 30 percent in the second quarter compared with the same period last year mainly because of workforce restructuring costs.

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