In This EditionPakistani officials promise a full investigation into the crash of a domestic flight that killed 127 people.

The U.N. Security Council approves 300 unarmed military observers to monitor the fragile ceasefire in Syria.

Officials at IMF meetings in Washington try to keep up pressure on Europe to follow through on tough economic reforms to relieve debt crisis.

And political analysts in France predict a tight race between President Nicolas Sarkozy and his Socialist opponent Francois Hollande in Sunday's presidential election.

Hot Issue ReportsChinese Premier Visits Iceland to Promote Free Trade NegotiationsVisiting Chinese Premier Wen Jiabao and Icelandic President Olafur Ragnar Grimsson have agreed that the two sides will accelerate their free trade negotiations.

Premier Wen is the first head of state from China to visit the island nation in 41 years of diplomatic relations.

"I feel honored and also a strong sense of responsibility. I've brought with me the friendship of the Chinese people towards the people of Iceland and also a sincere wish of China to strengthen its cooperation with Iceland. "Icelandic Prime Minister Johanna Sigurdardottir also welcomed Wen Jiabao's visit.

"It is a pleasure to celebrate the milestone of 41 years of diplomatic relations between Iceland and China with such a visit."The two countries will strive to establish the first free trade zone between China and a European nation next year, whose negotiating process was officially launched in 2007.

China and Iceland will further cement communication and coordination on Arctic affairs as they push forward the development of their bilateral ties.

The Chinese premier is also scheduled to visit Sweden, Poland and Germany.

Pakistan Aviation Officials Investigating the Air CrashPakistani officials on Saturday promised a full investigation into the crash of a domestic flight that killed 127 people, saying they were examining all possibilities, from a technical fault to the age of the Boeing 737.

The head of Pakistan's Civil Air Authority Nadeem Khan Yousafzai said the plane of private Bhoja Airlines was locked into the instrument landing system -- an approach system that provides precision guidance for aircraft.

"The pilot acknowledged the signal, and then contact was lost and the blip disappeared from the radar. He descended to 2,000 feet from 2,600 feet (860 metres). It just went down into a dive. And what happened in this period, that has to be investigated.

Yousafzai rejected allegations that Bhoja Air had used political pressure to get permission to fly the aircraft.

"It is wrong to say that the decision to allow the Bhoja aircraft to fly was taken under political pressure. Civil Aviation, we are a regular authority. We have a reputation to maintain. "The owner of Bhoja Air, Farooq Bhoja, has been barred from leaving the country to ensure his cooperation with the investigation.

Grieving Relatives Arrive in Islamabad to Identify BodiesRelatives of passengers and crewmembers who died in a plane crash near Pakistan's capital Friday evening have arrived in Islamabad to identify the bodies in a local hospital.

A funeral was held for at least one victim immediately after the body arrived.

Other funerals will be held later at different locations in the city, while a few bodies will be sent to their native towns in Sindh province.

A local resident in Islamabad expressed grief and anger over the plane crash.

"This is a very painful time for all of us. It is a big tragedy for everyone. We need to do something to prevent such incidents. Of course, we should pray, but the government should take some steps to prevent this from happening again. Concerned organizations and the public should also take notice."Pakistani Prime Minister Yusuf Raza Gilani visited the hospital to console the families of the victims and announced the formation of a judicial commission to investigate the crash.

The plane's "black box," which records flight data, has been recovered, and an investigation is underway.

Chinese President Hu Jintao expressed his deep condolences for the tragedy to his Pakistani counterpart, Asif Ali Zardari.

UN to Deploy 300 Observers to Monitor Ceasefire in SyriaThe U.N. Security Council has unanimously adopted a resolution approving 300 unarmed military observers to monitor the fragile ceasefire in Syria.

This move comes following the council's resolution last week that authorized deployment of an advanced team of up to 30 monitors in Syria.

The new resolution once again urges both the Syrian government and opposition to halt fighting that has killed thousands over the past year.

The Russia-European drafted resolution says that the three-months deployment of the U.N. observer mission will be subject to assessment by the UN Secretary-General of relevant developments on the ground.

The resolution requires UN chief Ban Ki-Moon to brief the council about developments in Syria every 15 days and submit to it proposals for adjusting the mission's mandate.

Russia's UN ambassador Vitaly Churkin says the resolution is critical for restoring peace in Syria.

"This resolution is of fundamental importance to push forward the process of a peaceful settlement in Syria. It enshrines the council's consensus regarding supporting the Annan six point plan. We now see the main aim as being the unswerving clear respect by all parties of the provisions of the resolution. Any deviation in terms of interpretation or deviation from the provisions is unacceptable."Syria's UN Ambassador Bashar Ja'afari has cautiously expressed his country's support for the monitoring mission.

"My country has a vested interest in the success of the work of the mission proceeding on our keenness on achieving the stability, safety and security of our country and citizens. Here we would like to state that those monitors must fulfill their work on the basis of objectivity, impartiality and professionalism."However, Western diplomats have warned that the council would have to consider sanctions if Damascus continues the violence.

U.S. Ambassador to the United Nations Susan Rice appears deeply pessimistic about the monitoring mission.

"No one should assume that the United States will agree to renew this mission at the end of 90 days. If there is not a sustained cessation of violence, full freedom of movement for U.N. personnel and rapid, meaningful progress on other aspects, all other aspects of the six point plan, then we must all conclude that this mission has run its course. We will not wait 90 days to pursue measures against the Syrian government if it continues to violate its commitments or obstruct the monitors work."The six point plan, brokered by UN special envoy Kofi Annan, calls for an end to all violence, deployment of a monitoring mission, and a political dialogue between the government and opposition in Syria.

Europe Needs to Do more to Fix its Debt-heavy Economy: IMFTop global finance officials are trying to keep up the pressure on Europe to follow through on tough economic reforms to relieve debt crisis, throughout three days of meetings in Washington.

A day after the world's major economies agreed more money for the IMF to help contain Europe's debt crisis, the Fund's governing panel said the euro zone now needed to get its debt under control, ensure the stability of its banking system and carry out "bold structural reforms."IMF Managing Director Christine Lagarde.

"As you can imagine we talked a lot about certain regions, we talked a lot about certain countries, the Euro area, the United States of America, the right balance between emerging market economies and other advanced economies and all of that with that perspective of that medium term anchoring that is so needed, both for fiscal policies and for the purpose of stimulating that growth and this job creation that is so much needed."The head of the panel, Singapore's Finance Minister Tharman Shanmugaratnam, said it was critical to get back to "normal" economic growth in two to three years in as much of the advanced world as possible, otherwise fiscal sustainability would not be possible either.

"It was about the real theater of policy action which is about fiscal reforms and structural reforms, not just in Europe although that is obviously an important focus of our attentions, but also in the United States as well as more generally amongst all players in the international economy."Europe is under pressure to do more to fix its debt-heavy economy, which still threatens to undermine a fragile global recovery.

Tight Race Predicted for French Presidential ElectionsSome political analysts in France have predicted a tight race between French President Nicolas Sarkozy and his Socialist opponent Francois Hollande in Sunday's presidential election.

Philippe Martinat is French daily Le Parisien's Deputy Political Editor.

"Nicolas Sarkozy's strategy in 2007 was to have the lowest possible number of conservative candidates, so that he could portray himself as the right's champion. That is what he succeeded to do this time too, by moving aside three or four candidates. He is in a better position for the first round, but he will have a problem in the second round because he will dispose of a smaller reserve of votes."Martinat says he believes that Sarkozy will face strong competition from Hollande.

"Francois Hollande will count on the votes he will get in the first round, but he can also count on the votes from Jean-Luc Melenchon (of the Left Front party) and from the far-left and the environmentalists."Martinat has also predicted a good showing for far right candidate Marine Le Pen.

Most political observers see the approaching presidential elections as a referendum on the man currently in charge.

Sarkozy inspired voters in 2007 with pledges to break with the past and make France a more dynamic economy.

After an initial wave of reforms, his momentum fizzled. And voters at home feel forgotten and hurt by a presidency that included France's worst recession since World War II.

Hollande, despite a bland persona and few eye-catching campaign ideas, has been more popular than Sarkozy for months.

Bus Crash Kills 43 in MexicoAt least 43 people were killed and more than 20 injured when a cargo truck crashed into a tour bus in the eastern Mexican state of Veracruz.

Local authorities say the victims were workers traveling from the port of Coatzacoalcos to the northern border state of Coahuila.

The injured have been taken to hospitals in the nearby port city of Tuxpan.

Tuxpan Mayor Salomon Carmona said initial investigations show the vehicles collided after the truck's trailer decoupled.

"Unfortunately, this is a tragic accident. A truck with a double-cargo trailer decoupled, and the driver tried to maneuver to miss the bus, but the result was what we know already-43 people killed."Forensic investigators at the accident scene said the two vehicles were traveling in opposite directions when the rear trailer of the truck decoupled and collided with the tour bus. Another heavy truck said to be driving behind the bus smashed into it.

Mexican President Felipe Calderon has expressed his sadness in a message posted on Twitter.

Japan and Mekong Countries Agree to Enhance Economic CooperationLeaders of the five Mekong region economies and Japan have agreed to strengthen their economic partnership at a summit in Tokyo.

At the fourth Mekong-Japan summit, the leaders of Thailand, Vietnam, Laos, Cambodia and Myanmar pledged to develop their transportation connectivity and economies.

As part of their agreement, Japan committed 600 billion yen, or more than 7 billion U.S. dollars, in fresh aid to the Mekong region over the next three years.

Japanese Prime Minister Yoshihiko Noda emphasized the importance of cooperation in the region.

"The stability and development of East Asia is not possible without the stability and development of the Mekong region. Japan will continue to vigorously promote cooperation with the Mekong region as the focal area of support."Meanwhile, Tokyo has outlined 57 flagship projects that focus on developing infrastructure in the five countries. The projects are estimated to be worth a total of about 2 trillion yen. They include ports, highways, power plants and high-speed railways.

At the same time, Thai Prime Minister Yingluck Shinawatra has pledged about 77 million U.S. dollars for infrastructure development projects and technical assistance in the Mekong region countries.

Public to be Won over by Electric Cars in ChinaThough Shanghai has been earmarked as China's first 'Electric Vehicle' - or 'EV' City by the Chinese government, auto manufacturers there are facing an uphill battle to convince a sceptical public to buy their cars.

Electric vehicles could ease the growing environmental concerns in the world's most populous country while at the same time make for good business in the world's largest car market.

But Zhu Xiao, a manager at the Shanghai International Automobile City, says technology, price and infrastructure are the main concerns that consumers have about electric vehicles.

"The main concern is that people don't know much about electric vehicles. And second, once they are interested in EVs, they will also ask the questions, 'How can I get an EV running on the road?' 'Where can I charge my car?' These are the key questions."The necessary support infrastructure would include charging points and stations for either recharging or swapping batteries, as well as hydrogen-refueling stations.

Yale Zhang, an analyst with the private consultancy Automotive Foresight, believes it could take up to 20 years before automakers in China produce a competitive battery.

"If you think about it, investing in some kind of charging facility is quite easy. It doesn't require a lot of investment. Once there's a breakthrough in battery technology, the others will just follow."The Chinese government's target aims at getting half a million vehicles with some form of electric power on the streets by 2015. But of the 18.5 million vehicles sold in China last year, only 8,000 were hybrid or electric vehicles.

To transform the country into a leading producer of clean vehicles, the Chinese government will reportedly invest 100 billion yuan, or about 16 billion U.S. dollars, in the industry during the next decade.

Lessons London could Learn from the Usage of Beijing Olympics VenuesWith less than 100 days to go for the Olympics this summer, there are some lessons London organizers can learn from Beijing to make the venues to be profitable and cover the big expenses on their operation.

The iconic venues of the Bird's Nest and Water Cube in the Chinese capital have been struggling to be self-efficient since the glorious days four years ago.

Allistair Thornton is a China economist with global economic group-INS Global Insight.

"I think it is clear that they served their purposes wonderfully during the Olympic Games, but four years on although they have become a real part of the tourist map of Beijing, they are losing money and it is hard to imagine the situation whereby the Olympics makes sense for Beijing economically."The venues owners are desperately exploring new ways and searching for multiple business models to support themselves and to be profitable. Even though there are sports and commercial events held every now and then, it is still far less than enough for the usage of big investment.

According to Yang Qiyong, the Deputy General Manager of the bubble-like Water Cube, it was quite hard to make ends meet last year as the number of visitors fell by almost a third compared with a year before.

"In the year 2011 which passed not long ago, we had a revenue of more than 100 million yuan, or nearly 16 million US dollars. We managed to reach a balance of income and costs. It was quite hard for us to do that."The biggest channel to maximize revenues is commercial operations, which would include naming rights, a type of sponsorship that was initially discouraged by the government for fear of over-commercialization.

China Daily: Manila Should Stop Making Trouble in the South China SeaChina's relationship with the Philippines has plummeted to its lowest point in years following a maritime standoff near China's Huangyan Island in the South China Sea.

The incident occurred when a Philippines navy gunboat harassed 12 Chinese fishing boats earlier this month. As a result, Chinese Vice-Foreign Minister Fu Ying summoned a high-ranking Philippino official in Beijing to meet with him twice within a week.

An editorial in China Daily argues that the Philippines should shoulder sole responsibility for the cooling of ties and refrain from escalating the tension further. It also advises Manila to withdraw its ships immediately.

The editorial goes on to say that Beijing has exercised the utmost tolerance each time Manila has chosen to stir up trouble on China's doorstep, but it would be dangerous for the country to gamble that China will fold rather than safeguard its territorial waters.

The editorial also says Manila's claim over the sovereignty of Huangyan Island contradicts historical facts and legal principles. China was the first nation to discover the island, name it, incorporate it into its territory and exercise jurisdiction over it. Huangyan Island, therefore, is an integral part of Chinese territory, and the waters around it are a traditional fishing area for Chinese fishing boats.

The editorial points out that even international laws under the UN, to which Manila often refers, do not grant coastal states' rights to undermine the inherent territory and sovereignty of other countries. It says the Philippines' acts have seriously violated the Declaration on the Conduct of Parties in the South China Sea signed by China and members of the Association of Southeast Asian Nations in 2002. The document set forth a principle of resolving disputes through bilateral dialogue.

In conclusion, the editorial says China will not allow its sovereignty to be undermined by any means despite its commitment to peaceful diplomatic resolution and stance of shelving disputes over the South China Sea for the sake of common development.

***************************Xinhua: Remarks about Diaoyu Islands Detrimental to Sino-Japanese RelationsGovernor of Tokyo Shintaro Ishihara claimed this week that the city's metropolitan government would buy some islets of the disputed Diaoyu Islands in the East China Sea, provoking outcries in the Chinese media.

A commentary by Xinhua News Agency says the provocative move by Ishihara, who is known for his anti-China rhetoric, is detrimental to Sino-Japanese relations. It argues that he was attempting to bolster his hawkish profile in Japan by sabotaging bilateral relations.

Xinhua notes China's Foreign Ministry has said previously that Beijing would not hesitate to take any necessary measures to safeguard its sovereignty over the Diaoyu Islands. It warns that any unilateral action taken by the Japanese would be illegal and invalid.

The Xinhua commentary urges Japanese politicians to exercise caution with their remarks and not make any provocative moves concerning the Diaoyu Islands.

It also reminds readers that the friendly ties between China and Japan have been the result of painstaking efforts by generations of political leaders and the civil societies of both nations.

The commentary concludes by saying that the only logical approach to preserving the hard-won friendship between China and Japan is to cherish-not damage-it.