Welcome to the Beijing Hour, live from the Chinese capital.

Coming up on our program this morning...

Islamic State claiming responsibility for a suicide car bombing that has left over 100 dead in a northeastern suburb of Baghdad...

Chinese Premeir Li Keqiang calling on Japan to adhere to the path of peaceful development...

And Greece's final bailout terms being greelit by the European commission...

In our weekly buisness review... China's economic growth exceeding expectations in the second quarter of this year...

In Sports... a preview of upcoming action in the Chinese Super League...

In Entertainment...Voice of China Four opens with Taiwan star Jay Chou at the helm...

Top NewsAt least 100 killed in truck bomb in northeastern Iraqi capitalMore than 100 people have been killed in a suicide car bombing at a busy market in an Iraqi town on Friday, in one of the deadliest attacks carried out by Islamic State militants since they overran large parts of the country.

The blast brought down several buildings in Khan Bani Saad, about 30 km northeast of Baghdad, crushing to death people who were celebrating the end of the Muslim fasting month of Ramadan.

Islamic State, which controls large parts of northern and western Iraq, has claimed responsibility for the attack in the mixed eastern province of Diyala.

Angry crowds went on the rampage after the explosion, smashing the windows of cars parked in the street in grief and anger. According to police, body parts were flung onto the roofs of nearby buildings by the force of the blast.

The security situation in Iraq has drastically deteriorated since June last year, when bloody clashes broke out between security forces and Islamic State militants.

Young Suicide Bomber Attacks Kill 8 in NigeriaThree suicide bombers under age 10 have killed at least eight people in separate attacks in northeastern Nigeria.

Yobe State police commissioner Markus Dandali says the first attack targeted worshippers gathered to mark the Muslim holiday Eid al-Fitr at a mosque in the northern city of Damaturu.

"A small girl that is not up to 10 years just approached one of the checkpoints, that is this, near the government house here and blew herself (up), that is the first incident where she killed six people including herself and wounded about maybe seven or eight others."The officer says another two female suicide bombers killed themselves and three others did so in a second attack later in the Gonbe area.

No group has claimed responsibility for the attacks.

On Thursday, some 50 people were killed in bomb attacks at a market in Gombe, about 200 kilometres from Damaturu.

Many locals are blaming Islamic militant group Boko Haram for the recent attacks.

Boko Haram has killed more than 13,000 people in violent attacks carried out since 2009 in the country.

More than 200 passengers injured in train collision in JohannesburgMore than two hundred people have been injured in a train collision in Johannesburg on Friday night.

Private emergency service Netcare said that currently there were no report of deaths.

The service put the number of injured at about 250 and said more injuries were expected as some passengers were still trapped in the wreckage.

Police said the cause of the accident is still undetermined.

Premier Li Tells Japan to Follow Peaceful DevelopmentAnchor:

Chinese Premier Li Keqiang has urged Japan to stick to peaceful development while meeting with head of Japan's National Security Council.

CRI's Luo Wen reports.

Reporter:

Premier Li Keqiang held talks on Friday with Shotaro Yachi who is in Beijing for the first China-Japan high-level political dialogue.

The meeting comes on the heels of Japan's ruling coalition ramming several controversial security bills through its lower house of parliament.

Li says Japan should continue to follow a policy of peaceful development and play its due role in regional peace, stability and development.

He notes that bilateral relations still face prominent issues of sensitivity and complexity, saying he hopes Japan will focus on a big picture, keep its commitments on historical issues and properly handle relevant disputes with a responsible attitude.

For his part, Shotaro Yachi says Japan hopes to maintain the momentum of improvement of ties along with the Chinese side.

The three-day China-Japan high-level political dialogue is to end today.

It comes at a time when the bilateral ties show signs of thawing after Chinese President Xi Jinping met with Japanese Prime Minister Shinzo Abe at an Asia-Pacific summit in Beijing last November and an Asia-African leaders' gathering in Jakarta this April.

Speculation over improved Sino-Japanese ties have continued to rise after a 3000-strong Japanese delegation visited China in May and the bilateral finance minister dialogue resumed in June.

Yang Bojiang, a professor of Japanese Studies at the Chinese Academy of Social Sciences, says the political dialogue holds special significance for bilateral ties.

"Without settling of any concrete problems, the meeting is still significant as long as the two sides agree to continue dialogues and communications for resolving their disputes."The Sino-Japanese relationship took a nosedive after Japan's illegal arrest of Chinese fishermen in waters off Diaoyu Islands in 2010.

Yang says the rebuilding of ties requires long-term vision.

"Besides paying attention to current problems, the two sides should also build a long-term vision and set the direction for the development of the bilateral ties, from a strategic perspective."The professor suggests that dialogue is the best way for the two sides to settle disputes, though Japan's interfering in South China Sea dispute and its recent passing of security bills complicate the situation.

"China and Japan are indeed dependent on each other in multiple areas such as ecological protection, economy, trade and investment. Despite the thorny problems, the bilateral relationship can still move in an upward direction and get back on track provided that the two sides are determined to solve them through dialogue."The political dialogue was co-chaired by Shotaro Yachi and Chinese top diplomat Yang Jiechi.

Shotaro Yachi has also met with Chinese Defense Minister Chang Wanquan.

Both of the Chinese officials have urged Japan to learn from history and respect the major security concerns of its neighbors and not to do anything detrimental to regional peace and stability.

For CRI, I'm Luo Wen.

President Xi Notes Leading Role of SOEsChinese President Xi Jinping has reiterated the leading role of state-owned enterprises in the country's economic reform.

He made the remarks during an inspection tour to a plant of the newly merged high-speed rail maker CRRC in Changchun.

President Xi portrays China's self-developed high-speed trains as a new symbol of the country's manufacturing capacity.

"I've been to many countries over the past years. Most agreements we've signed were related to high-speed rail. The signing of the project that links Moscow and Kazan was witnessed by myself and President Vladimir Putin. I hope that you continue with your innovations, and make new achievements, leading the development of the country's manufacturing industry."During a tour to a clutch maker, President Xi Jinping called on all state-owned firms to improve risk control capability while seeking to expand profits.

"State-owned enterprises play a leading role in the country's economic development. We should be confident of the way these companies operate. During the deepening of reforms, the SOEs should take into account both the characteristics of our country and market principles, while preventing rash decisions."The president also notes the role of innovation in pushing forward with a new-type of industrialization in the sector.

Germany, European Commission Approve Opening up of NegotiationsAnchor:

Formal negotiations with Greece on its third bailout within five years have been approved by Germany and the European Commission.

CRI's Guo Yan reports.

Reporter:

German lawmakers have given their overwhelming approval to the opening of detailed negotiations with Greece on a new bailout package.

A total of 439 lawmakers voted in favor of the talks, with 119 opposed and 40 abstentions.

The vote followed an over-three-hour debate where German Chancellor Angela Merkel told lawmakers that it was not only a decision on Greece, but also a decision on the future of a strong Europe.

The chancellor says the third bailout is the only possible option to save Greece and European solidarity.

Also on Friday, European Commission Vice President Valdis Dombrovskis said the Eurogroup has agreed to launch negotiations on a three-year bailout programme with Greece on a European Stability Mechanism bailout.

"The Eurogroup reached an agreement in principle to launch negotiations on a new ESM programme. National procedures are expected to confirm this decision."Dombrovskis adds that the 28-country bloc has approved 7.16 billion euros of bridge financing for Greece and would be given to Greece by Monday.

"We have an agreement on the bridge financing for Greece based on the ESM loan. This agreement backed by 28 European Union member states prevents Greece from an immediate default. It means that 7.6 billion euros will reach Greece on time by Monday."The bridge loan will allow Greece to clear its arrears with the International Monetary Fund (IMF) and the Bank of Greece and to repay the European Central Bank.

Greece has a 4.2 billion-euro payment due to the European Central Bank on Monday.

Without the so-called bridge financing it would not have been able to make the payment.

IMF Managing Director Christine Lagarde says debt restructuring is needed for Greece to free up to unleash the potential of its economy.

"I'm very realistic, and we try to be. What we heard loud and clear is that the Euro area members are not particularly keen to do haircuts. That was clear. And budget transfers is not in the cards either. You know, I think what we said is significant restructuring, which can take the form of a profiling for Greece."Though the broad outlines of the bailout were agreed Monday, specific terms are now being fleshed out between Greece and its European creditors.

The process is expected to last around four weeks and to lead to Greece getting around 85 billion euros to help it pay off upcoming debts.

In return, Greece has accepted reforms that include significant pension adjustments, value added tax increases, an overhaul of collective bargaining rules and tight limits on public spending.

For CRI, I'm Guo Yan.

Greek PM reshuffles cabinet after debt deal reachedGreek Prime Minister Alexis Tsipras reshuffled his cabinet on Friday following the achievement of a debt deal with international creditors earlier this week.

The Leftist leader replaced ministers of his Radical Left SYRIZA party who voted against the agreement and kept key ministries unchanged.

The reshuffle came a day after a vote in the Greek parliament on the first set of prior actions the country needs to take to unlock vital financing from EU creditors.

Also on Friday, European partners approved a seven billion euro bridge loan to Greece.

The loan will allow Greece to make a bond repayment to the European Central Bank (ECB) this coming Monday and the next loan installment repayments to International Monetary Fund.

1st Anni of Crash of MH17Anchor:

Memorial activities have been held in the Netherlands, Ukraine and Australia to mark the 1st anniversary of the crash of Malaysia Airlines flight MH17.

CRI's Liu Yuanhui reports.

Reporter:

During a Friday's ceremony in the Dutch city of Nieuwegein, the names of all 298 victims were read out.

In his speech, Dutch Prime Minister Mark Rutte, said the victims will be remembered for ever.

"Because the 298 unique people we remember today will always be connected with your lives and those of thousands of others. Lives that go on, but with 'a gaping hole', as one of the next of kin described it recently. Today is a difficult day - a day of reliving events. It is inevitable that everything will come flooding back."The airliner was downed near the Ukrainian village of Hrabove on July 17, last year.

On Friday, 200 local residents gathered in a church for a memorial service and a procession.

Larisa Tyupova was among them.

"Civilians and soldiers, eternal memory to all. And to the people, who died here. It is a terrible tragedy. We came to pay our respects to the memory of the people who died hoping that this all will be over soon. We hope that this will never happen again. Not here, not anywhere else. Shooting is very scary."Meanwhile in Canberra, Australian Prime Minister Tony Abbott was joined by some of the relatives of the 39 Australian victims at a service.

Abbott unveiled a plaque that bears the names of all Australian victims, before laying a wreath to commemorate the victims.

"You have had the worst year of your life. Hardly a moment would go by when you don't think of a parent, a child, a sibling, a friend, present in your thoughts but painfully absent from your life. Today our nation pauses to acknowledge your tragedy."The Boeing 777 was en route from Amsterdam to Kuala Lumpur when it was shot downed over eastern Ukraine.

The Netherlands was the hardest-hit nation in the disaster with 196 of the victims being Dutch nationals.

Till today, disputes are still lingering over who was responsible for downing the plane.

Ukrainian and Western authorities claim the plane was downed by a missile fired either by the anti-government militants or the Russian troops.

But the militants and Moscow say it was hit by a Ukrainian warplane or a Ukrainian-fired missile.

Britain and Ukraine have recently appealed to the UN Security Council for an international tribunal to prosecute suspects.

The appeal is also favored by Malaysia, Australia, the Netherlands and Belgium.

But Russian President Vladimir Putin expressed opposition, saying it is "premature and counterproductive."Putin noted that the international investigation should be in full compliance with a UN Resolution adopted on the initiative of Russia last July.

For CRI, I'm Liu Yuanhui.

Chinese Gov't departments Begin to publish AccountsChinese central government departments are beginning to publish details of their expenditures during the last fiscal year.

The disclosure is mandated by the country's new budget law.

The reports will, for the first time, make public the use of funds in the areas of government procurement, operational costs, and the use of state-owned assets.

They will also contain more detailed lists about expenditures on the so-called "three public consumptions," namely overseas trips, vehicles and receptions.

Bai Jingming, with the Finance Ministry, says the central government has seen a notable drop in spending on "three public consumptions.""The spending on 'three public consumptions' is 17 percent lower than the budgeted figure in 2014, and the budget itself was much lower than in 2013. China has cut down the spending on the 'three public consumptions' for five successive years. The figure now has dropped to 5.8 billion yuan, less than half of that recorded five years ago."Bai Jingming attributed the drops to the country's frugality campaign that aims at to cut waste and extravagance.

Administrative fees, such as fees on conferences and training, and government procurement information have attracted much negative attention among the Chinese public.

China works out policy measures to support foreign tradeChina's Ministry of Commerce has promised to take measures to stabilize the country's foreign trade.

The measures include rectifying and standardizing service charges, reducing tariffs on certain imported commodities, and opening more duty-free shops at ports.

Vice minister of commerce Wang Shouwen believes that these measures could help the country to promote exports and maintain sustainable development in the field of foreign trade.

"These policies will become specific measures to reduce companies' burden, and make them feel the benefit of trade. We believe that these measures will play a good role in boosting confidence in foreign trade and promoting the steady growth of import and export."The latest official data shows that China's total import- export value dropped 6.9 percent year on year in the first half of 2015, with exports edging up 0.9 percent and imports slumping 15.5 percent.

Is it easy for Chinese to Feel Happy?

Anchor:

Experts attending a recent psychology conference in Beijing are suggesting it's not easy for Chinese people to be mentally happy.

But as CRI's Xu Fei reports, the Chinese may have their own ways to find balance.

Reporter:

In recent years, a special study called Psychology About Happiness has gained great attention among the public. People in China start to ask themselves questions whether they are really happy or not.

Professor Peng Kaiping, director of the department of psychology at Tsinghua University, says the unhappiness of Chinese people widely stems from the feeling that they lack money, the stress from work and the sense of insecurity about the future.

Peng Kaiping says although these reasons are not particularly unique in China, Chinese people tend to feel the punch especially hard.

"It's a universal phenomenon at a certain stage of social economic development, but China is a big country with a lot of people, and Chinese tend to work very hard, so the problem is more serious for Chinese people."Peng says Chinese people are in fact good at making themselves happy. Social relationships, traditional value system and their high expectations for the future are all their potential sources of happiness.

But at the same time, experts suggest, if the traditional ways are proving to be ineffective in this fast-changing world, it is good for the Chinese people to learn a thing or two from the rest of the world when it comes to dealing with unhappiness.

Professor Peng Kaiping says the happiness of Chinese people tend to be more future-oriented, more in the context of a community and more external while the definition and reflections of happiness in the west are the opposite.

James Pawelski, director of the education department and a senior scholar with University of Pennsylvania echoes this view, saying the differences lie in the very core of the two distinctive cultures.

"In more individualistic cultures, people might judge their own lives to be lives well-lived perhaps more in terms of their own, individual events in their lives. Whereas perhaps in the east, there will be more of the questions of how other people that focus around of you are doing."Experts say although such differences exist, there is still a universal way to deal with negative emotions.

Professor Peng Kaiping says one of the approaches is arts.

Pawelski says arts can be used for not only alleviating the negatives, but also expressing and exploring the positives.

"We tend to focus, because we have this negative bias. We tend to focus on the negative, there are biographies of painters who have difficult use their works to processing the difficult of struggle, but art also could be a way of celebrating. It can be a way of looking for the best things in life, and try to explore those."Pawelski says that all that depends on how to find the positive side of humanity either by artists or by art consumers.

Back Anchor:

CRI's Xu Fei reporting.

The National Youth Orchestra of the US is touring ChinaAnchor:

Many resident orchestras of European and American music halls are beginning their tours around the world.

CRI's Liu Xiangwei reports on the US National Youth Orchestra which is touring China with renowned director Charles Dutoit and Chinese pianist Li Yundi.

Reporter:

Wearing red pants and star sneakers, 114 U.S. musicians aged from 16 to 19 made a refreshing debut in Beijing.

Their interpretations of Tan Dun, Beethoven and Berlioz were well received by an audience that packed the National Center for the Performing Arts or NCPA.

"I've seen many foreign orchestras and symphonies. They are incredibly talented for ages 16 to 19. They're amazing in so many ways."Maestro Charles Dutoit held the baton for these young musicians. He says music is a great channel to bring together global citizens, especially for America's young generations to witness China firsthand.

"I've been to China 25 times. From the very beginning I see the incredible development of the country in many fields, economically of course but also artistically. It's very important to bring these young people from the world to see the prominent orchestras and academies and to see all these new concert halls, and to exchange their ideas and messages through music."Nicknamed "Green Pepper" by China's social media, this orchestra was initiated and sponsored by Carnegie Hall.

The weight-carrying classical fortress has just entered a long-term agreement with the NCPA, looking into cooprations in performance exchanges, venue management, and art education.

Carnegie Hall has also invited the NCPA's resident orchestra to perform in New York City, an encouraging recognition for the 5-year-old orchestra.

Chen Ping, President of the NCPA, commented on the invitation.

"Our momentum represents the whole country's momentum. With more than 30 years' high-speed economic development, China has started to attach great importance to artistic pursuits. I think it's a right decision. That's why we pay so much attention to nurturing young artists and young audiences to carry on our cultural heritage. And you can see the international recognition now."The US youth orchestra's 9 stops in China include Shanghai, Guangzhou, Suzhou and Xi'an.

For CRI, this is Liu Xiangwei.

WeatherBeijing will have moderate rain with a high of 27 degrees Celsius. Thundershowers tonight with a low of 21.

Shanghai will have light rain with a high of 27 and a low of 24.

In Chongqing, it will be cloudy with a high of 35 and a low of 25.

Elsewhere in the world, staying here in Asia,Kathmandu, heavy rain, 27.

Islamabad will have light rain with a high of 31.

Kabul will be overcast with a high of 32.

Over to North America,New York, light rain with a high of 29 degrees.

Washington, overcast with a high of 34 degrees.

Honolulu, light rain, 27.

Toronto will have light rain with a high of 31 degrees.

Finally, on to South America,Buenos Aires will be cloudy with a high of 16.

And Rio de Janeiro will be cloudy with a high of 26 degrees Celsius.

Headline newsAt least 100 killed in truck bomb in northeastern Iraqi capitalMore than 100 people have been killed in a suicide car bombing at a busy market in an Iraqi town on Friday, in one of the deadliest attacks carried out by Islamic State militants since they overran large parts of the country.

The blast brought down several buildings in Khan Bani Saad, about 30 km northeast of Baghdad, crushing to death people who were celebrating the end of the Muslim fasting month of Ramadan.

Islamic State has claimed responsibility for the attack in the mixed eastern province of Diyala.

Angry crowds went on the rampage after the explosion, smashing the windows of cars parked in the street in grief and anger. According to police, body parts were flung onto the roofs of nearby buildings by the force of the blast.

The security situation in Iraq has drastically deteriorated since June last year, when bloody clashes broke out between security forces and Islamic State militants.

Chinese premier meets Japan's national security advisorChinese Premier Li Keqiang has met with Shotaro Yachi, head of Japan's National Security Council, in Beijing on Friday.

The meeting comes on the heels of Japan's ruling coalition ramming several controversial security bills through its lower house of parliament.

The bills will enable Japan's self-defense forces (SDF) to engage in armed conflict overseas and help defend others even if Japan is not attacked.

Li said Japan should continue to adhere to a policy of peaceful development and play its due role in regional peace, stability and development.

He said that he hopes Japan will focus on the big picture, keep its commitments on historical issues and properly handle relevant disputes with a responsible attitude.

Yachi is visiting Beijing for the first China-Japan high-level political dialogue.

The three-day event is to end today.

Over 1,600 relocated as rainstorm hits BeijingMore than 16-hundred people have been relocated since a rainstorm hit Beijing on Thursday night.

Most of the relocated people live in the southwestern suburb of Fangshan.

The average rainfall in Beijing was nearly 39 millimeters.

While the rainfall in the Hebei town of Fangshan was about 227 millimeters, the highest in the city.

Some roads were flooded or caved in.

Beijing has lifted the yellow alert as the rain is weakening.

China's State Grid to build mammoth power line for Belo Monte dam in BrazilChina's State Grid Brazil Holding has won a contract to build a gigantic transmission line for the Belo Monde hydroelectric dam, located deep in the Amazon rainforest.

The State Grid subsidiary made the lowest bid by offering to operate the dam's second power line in exchange for 309 million U.S. dollars a year.

The winning offer was 19 percent lower than the maximum amount permitted in the auction.

The company has committed to finish construction in 2019 and to begin operating the power line in 2020.

Weekly Biz RoundupBiz weekly reviewAnchor:

It's time to take a look back at some of the headlines from the business world this past week in our Weekly Business Review.

On Wednesday, stats from Chinese authorities show China's economy posted 7-percent growth year on year in the second quarter of 2015, exceeding many expectations.

The Chinese A share market has staged a rebound this week.

And Greece has finally inked a deal with its European creditors after weeks of marathon talks.

Let's catch up on all of that and more with CRI's Wenjie.

Reporter:

On Wednesday, China's economy posted a 7-percent growth year on year in the second quarter of 2015.

National Bureau of Statistics data shows second-quarter GDP grew 1.7 percent over the previous quarter.

The growth rate beat a median market forecast of 6.9 percent for the second quarter.

Sheng Laiyun, statistics bureau spokesperson, analyzes the current situation at a news conference in Beijing.

"The domestic and the external economic environment remained fairly complex in the first half of the year. As for the global situation, the global economic recovery was comprehensively lower than the expectation. At present, it's showing a sign of slow recovery with obvious polarization."Chinese stock markets did not celebrate the news, however, with benchmark indexes down nearly 3 percent in morning trade on Wednesday.

The government is still trying to stabilize its exchanges, which lost as much as 30 percent in a few short weeks of panicked selling.

//////On the Chinese A share market,On Monday, over 360 companies resumed their trading, marking the highest number of resumptions in a single day in recent weeks.

Most of the companies say the decision was made as major shareholders increased holdings and company leaders came up with measures to stabilize stock prices under the central government's series of prop-up measures.

In the meantime, China's securities regulator has issued a statement, vowing to strictly crack down on illicit securities trading.

The China Securities Regulatory Commission says it will standardize securities accounts after finding some agencies and individuals set up virtual accounts or traded with borrowed accounts.

Following the statement, the Chinese securities watchdog confirmed it has started a probe of Hundsun Technologies for suspected illicit financing.

Later on Thursday, Hundsun announced that its subsidiary Hundsun Network would shut down the account-opening function of its HMOS service.

HMOS is an IT service that connects accounts to access points offered by securities brokerage firms.

It has been criticized on social media in China for channeling massive margin lenders into speculative trades on the domestic stock market and contributing to the sharp fall in stock prices in recent weeks.

///////Chinese A-share market has rebounded this week, apart from Wednesday's drop.

On Friday, Chinese shares surged over 3 percent, with the benchmark Shanghai Composite Index gained 3.5 percentSettlement of index futures for July became a key focus of attention in the A share market Friday, as investors worry about potential downward pressure.

But Winston Wang, managing director of Shipstone Group, says it is unlikely that overall market stability will be affected.

"I do not think the specific day is so critical as the media portrayed it. You've already seen people who hold this kind of futures are making assessments on a daily basis and adjust the assessments according to what is happening in the market. We have already seen the market is significantly stabilized. "Despite the recent fluctuation in the Chinese stock market, both global rating agencies Moody's and Fitch say it will not have a major spillover effect on China's real economy, nor will it pose a systematic risk to the country's financial system.

//////////China's central bank on Tuesday announced it "will continue to implement prudent monetary policy, and improve the financial system's capability to serve the real economy".

The bank did not change its monetary policy stance after the latest quarterly meeting of its monetary policy committee.

In a statement, the central bank pledged to use multiple monetary policy tools in a flexible manner, and maintain moderate liquidity in the market to ensure that loans and social financing will register reasonable growth.

It also called for continued market-oriented interest rate reform, and for the renminbi's exchange-rate reform to keep it stable.

////////On Monday, Greece finally reached a deal with its European creditors which may avoid its exit from the Eurozone.

The deal calls for Greece to enact further austerity measures in exchange for more loans.

The agreement comes after months of negotiations and a summit that stretched from last Sunday afternoon well into this Monday morning.

The deal includes commitments from Greece to push a drastic austerity program including pension, market and privatization reforms.

Greek Prime Minister Alexis Tsipras spoke highly of the bailout deal, saying the agreement saved Greece from exiting the euro and must be implemented.

"Let me tell you just the truth and allow me not to paint a beautiful picture; the night before the previous one was a bad night for Europe. We were made to go towards the wishes of the most powerful people in Europe, within circumstances of blackmail and suffocation, we had two terms on the table, first the agreement with specific requisites, or go bankrupt, that is leave the Eurozone."Later on Thursday, the Greek Parliament passed measures for a third bailout - despite protests and fierce opposition.

On Friday, the EU agreed to grant a short-term bridging loan to Greece to allow the country to pay off arrears it owes to the International Monetary Fund.

The short-term loan is expected to get the IMF to rejoin negotiations on a third bailout for Greece.

///////////On Wednesday, new stats from Chinese Land authorities suggest China's land prices have grown steadily in the second quarter of this year.

The report released by the Ministry of Land and Resources shows the average price of land stood at above 3500 yuan or 570 US Dollars per square meter, less than a 1 percent increase on the first quarter.

Industry observers believe China's property market has picked up thanks to the country's lower interest rates and reserve requirement ratio.

Zhao Song, head of China Land Surveying and Planning Institute at the Ministry of Land and Resources, says that land prices have fluctuated in a proper range.

"From the monitoring data, we can tell that the land prices changed largely in a steady fashion. Moreover, the price differentiation between cities has continued. The month-on-month growth in the price of land for various use across the country was on an uptick in the second quarter, which means land prices this quarter are growing faster."However, a separate report released by the National Bureau of Statistics shows China's property investment continued to soften in the first half of this year, with its growth rate falling nearly 4 percent than the first quarter.

//////On the corporate front, over the week, it's being reported that state-backed Chinese private equity firm Tsinghua Unigroup is preparing to buy US memory chipmaker Micron Technology for 23 billion U.S. dollars.

Tsinghua is said to offer 21 U.S. dollars per share for Micron, which is at a 19.3 percent premium to the stock's close on Monday.

If it goes ahead, the deal would be the biggest ever Chinese takeover of a US company.

However, a Micron spokesman said the company had not received an offer.

Any foreign takeover of Micron would likely have to pass a review by the Committee on Foreign Investment in the United States.

The deal could also face scrutiny from China's National Development and Reform Commission.

Outbound investments worth more than 2 billion U.S. dollars or those in sensitive industries must get the approval from the NDRC.

And that concludes this edition of the weekly business review; I'm Wenjie, thank you for listening.

SportsCSL previewSome football action here in China,The now No. 14 Liaoning Whowin will play Guangzhou Evergrande at home in the 20th round of Chinese Super League kicking off tonight.

Whowin lost the derby Wednesday 2-1 against Changchun Yatai.

Guangzhou Evergrande drew with Henan Jianye in Wednesday's game.

Evergrande now rank third in the current standings with 10 wins.

Tomorrow, Chongqing Lifan will meet Shanghai Shenhua,Guangzhou R&F is going to play Shandong Luneng,Tianjin Teda will play Guizhou Renhe,And Shanghai Shenxin is to take on Shijiazhuang Ever Bright.

Also in tomorrow's schedule, Henan Jianye is against Hangzhou Greentown,And Jiangsu Sainty will play Changchun Yatai after beaten by Shijiazhuang 2-1 in the last round.

Brazilian media reacts to Robinho's China moveBrazilian media have underlined the country's growing influence on Chinese football after Robson de Souza, otherwise known as Robinho, ended weeks of speculation by joining Guangzhou Evergrande on Thursday.

The signing, confirmed on Guangzhou's official website, has raised the number of Brazilians playing in the Chinese Super League up to 28, just one short of the record set in 2012.

Evergrande currently have six Brazilians on their books and are coached by the Selecao's 2002 World Cup-winning boss Luiz Felipe Scolari.

Real brings in Casilla for CasillasReal Madrid has acquired goalkeeper Kiko Casilla from fellow Spanish club Espanyol yesterday to replace departed talisman Iker Casillas.

Espanyol President Joan Collet announced Casilla's transfer to Real.

He said Real has agreed to pay 6 million euros for the 28-year-old goalie.

Casilla said he would sign a five-year contract with Real, and travel to join his new teammates during their preseason tour in Australia.

His arrival to the new team is expected to dampen speculation linking Manchester United goalie David de Gea.

Casilla played for Real's youth teams before stints with different Spanish clubs.

His steady improvement in Espanyol's net for the past four seasons has earned him a debut for Spain when he replaced Casillas in a friendly against Germany in 2014.

Real has also brought back fellow youth product Lucas Vazquez from Espanyol.

Great Britain level at 1-1 with France in Davis Cup quarter-finalIn tennis,Great Britain and France's Davis Cup World Group quarter-final was level at 1-1 after the opening days singles at the Queen's Club in London, England on Friday.

France got off to the perfect start as Gilles Simon comfortably beat James Ward 6-4, 6-4, 6-1.

Simon, who is 11th in the ATP rankings, was simply too good for Ward and took just an hour and 47 minutes to wrap up victory.

Both France and Great Britain are nine-time winners of the Davis Cup, but recent history has been kinder to the French.

Friday's match was their 14th quarter-final in the last 15 years, while Great Britain are seeking to reach their first semi-final since 1981.

Key to their chances is Andy Murray and the British number one didn't disappoint.

Murray, a tournament winner at Queen's prior to this summers Wimbledon, beat Jo-Wilfried Tsonga in straight sets 7-5, 7-6, 6-2 to make it a tie in this Davis Cup contest.

Great Britain's last Davis Cup success was 1936, when the team was led by Fred Perry and Bunny Austin.

More action from yesterday,Belgium claimed a 2-0 lead over Canada,Kazakhstan has reached the semifinals for the first time after grabbing a surprise 2-0 lead over Australia,And it was Federico Delbonis defeating Viktor Troicki to give Argentina a 2-0 victory over Serbia.

Greg van Avermaet holds off Sagan to win stage thirteen of Tour de FranceIn cycling,Greg van Avermaet has claimed a rare victory in the 13th stage of the Tour de France with a late burst of speed in an uphill finale.

The Belgian BMC Racing rider powered away from a small group on a steep final straight to outsprint Slovakian Peter Sagan.

Van Avermaet has collected scores of top-five finishes in the classics, but saw very few big wins in his career.

He was the strongest on Friday, however, as Sagan endured his 15th second-place finish on a Tour de France stage.

Belgian Jan Bakelants took third place as Chris Froome retained the overall leader's yellow jersey by finishing safely with the other top riders.

Froome says it was a tough day for him.

"Everybody just buried themselves keeping me in position, I mean what looked like an easy day on paper turned out to be a really tough day out there."Team Sky's Froome leads American Tejay van Garderen by 2-minutes 52-seconds and Nairo Quintana of Colombia by 3-minutes 9 seconds.

Dustin Johnson holds one-shot lead over Danny Willett at the British OpenIn golf,America's Dustin Johnson is sitting the first place on the leaderboard after a rain-interrupted day two of the British Open on Friday.

The big-hitting American was 10-under-par for the championship through 13 holes, one stroke clear of England's Danny Willett, when darkness ended play just before 10pm with several groups still out on the course.

After early morning thunderstorms caused play to be suspended for more than three hours, it was always inevitable the round would have to be carried over into Saturday.

Sharing third place on eight under were 1999 champion Paul Lawrie with 12 holes and Australian Jason Day with 11.

The day, though, belonged to five-times Open champion Tom Watson and triple former winner Nick Faldo.

65-year-old Watson was given an emotional send-off by the crowd when he walked off the final green with the light fading.

Faldo also failed to qualify for the weekend on his last outing at a St Andrews Open, although he refused to close the door unequivocally on his major championship career.

World number two Jordan Spieth remains in contention, but is now five shots off the lead after a par round on Friday.

Tiger Woods looks set to miss the cut once again after failing to improve on his poor overnight score.

Entertainment'The Voice of China 4' returns with Jay ChouSeason four of the popular TV hit "The Voice of China" debuts on Zhejiang Satellite Television on Friday night with Taiwan pop megastar Jay Chou as the new coach.

The new season was kicked off with an adapted version of Jay Chou's song "nunchakus" which is performed by a female hip-pop singer, Zhang Zitong.

Tan Xuanyuan who is pub singer from Chongqing stunned coaches with his singing of the song "Still Loving You".

In the next five weeks, the show will feature 50 candidates on the stage for a blind audition process.

The new season will keep its blind audition part but include a new live show phase when contestants from different teams will be disorganized to compete in a more fierce battle.

The series is part of the The Voice franchise and is based on the Dutch program The Voice of Holland.

New Bond movie will premiere in London on October 26The 24th James Bond film will have its world premiere in London on 26 October 2015 - the same night it opens in the U.K. and Ireland.

"SPECTRE" which stands for Special Executive for Counterintelligence, Terrorism, Revenge and Extortion features Daniel Craig as secret agent James Bond, alongside new cast members Christoph Waltz, David Bautista, Andrew Scott and Bond girls Monica Bellucci and Lea Seydoux.

In the film, a cryptic message from 007's past sets him on a trail to uncover a sinister organization - the SPECTRE of the title.

"SPECTRE" will begin its rollout in territories around the world after its U.K. premiere. The film will release in the US on November 6, 2015.

"Skyfall" director Sam Mendes returns to direct "SPECTRE," with Craig reprising his role as 007 for the fourth time.

"Skyfall" was the most successful Bond film yet, taking more than 1.1 billion US dollars worldwide.

Dave Somerville, lead singer of the Diamonds, dead at 81Dave Somerville, lead singer of the Diamonds on the 1950s classic "Little Darlin'," died on Wednesday in Santa Barbara, Calif. He was 81.

Unlike many of his 1950s vocal group peers, Somerville parlayed his early success into a musical career.

He performed solo, spent almost 20 years with the Four Preps and joined fellow Prep Bruce Belland in a two-man show.

He also performed Diamonds hits with a new group, and was widely known as "Diamond Dave."He was a popular figure among oldies fans, frequently appearing as a radio guest and telling an endless round of stories about the early days.

Leonardo DiCaprio in Alejandro G. Inarritu's 'The Revenant' First Trailer releasedThe first trailer for Leonardo DiCaprio's upcoming film The Revenant premiered online Friday.

Inspired by the life of mythical explorer Hugh Glass, "The Revenant" focuses on one man's adventure of survival in the early 19th century American wilderness.

The trailer, which is light on dialogue and heavy on action, finds DiCaprio's character facing off against Tom Hardy, who plays his confidant-turned-enemy John Fitzgerald.

Oscar-winning director Alejandro Gonzalez is at the helm. He is also co-wrote the film based on Michael Punke's novel.

The Revenant hits theaters Christmas day.

Luke Bryan launches interactive fan appIf you want to get closer to Luke Bryan, then now's your chance.

The country megastar has announced he'll be launching a new mobile app with live streaming and interactive features.

Earlier this week, the multi-platinum singer, who has more than four million Twitter followers, expressed that The Luke Bryan App, available July 24 on iTunes and Google Play, will connect him directly to fans.

WeatherBeijing will have moderate rain with a high of 27 degrees Celsius. Thundershowers tonight with a low of 21.

Shanghai will have light rain with a high of 27 and a low of 24.

In Chongqing, it will be cloudy with a high of 35 and a low of 25.

Elsewhere in the world, staying here in Asia,Kathmandu, heavy rain, 27.

Islamabad will have ligh rain with a high of 31.

Kabul will be overcast with a high of 32.

Over to North America,New York, light rain with a high of 29 degrees.

Washington, overcast with a high of 34 degrees.

Honolulu, light rain, 27.

Toronto will have light rain with a high of 31 degrees.

Finally, on to South America,Buenos Aires will be cloudy with a high of 16.

And Rio de Janeiro will be cloudy with a high of 26 degrees Celsius.

That’s it for this weekend edition of the Beijing Hour.

A recap of your headlines:

Islamic State claiming responibility for a suicide car bombing that has left over 100 dead in a northeastern suburb of Baghdad...

Chinese Premeir Li Keqiang calling on Japan to adhere to the path of peaceful development...

And Greece's final bailout terms being greelit by the European commission...