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

Coming up on the program this evening...

Xi Jinping and his visiting Turkish counterpart promising tighter ties as part of Recep Tayyip Erdogan's time in China.

A group of 155 Chinese nationals recently imprisoned in Myanmar will be headed back home to China tomorrow.

Malaysian investigators are headed to a remote island in the southern Indian Ocean to look into debris which may have come from missing flight MH370.

In Business.... a Taiwan firm is teaming up with a pair of mainland companies to launch a brokerage in Fujian.

In Sports.... the head of UEFA has announced plans to run for the head of FIFA.

And in Entertainment... a pair of much-anticipated films now going head-to-head in Chinese theatres.

Top NewsChina, Turkey pledge mutual support, closer cooperationAnchor:

Chinese President Xi Jinping and Turkish President Recep Tayyip Erdogan have sat down for a meeting in Beijing, touching on a number of key areas, including their mutual fight against terrorism.

CRI's Niu Honglin has more.

Reporter:

Chinese President Xi Jinping held talks with his Turkish counterpart on Wednesday in Beijing.

He says he appreciates President Erdogan's stance over the relationship between China and Turkey.

"Honorable President, you paid three visits to China when you served as the president of the ruling party, Prime Minister, and now as Turkish President, which shows you attach great importance to the relationship between China and Turkey. I highly appreciate that."Although it is Erdogan's first visit to China since he took the office, he has met with Xi Jinping several times before.

President Xi says they've had frank discussions and reached consensus on many issues.

"We agreed that the two sides should support each other over issues of major concern and deepen our strategic cooperative ties. I am willing to work with you to fully summarize the China-Turkey relationship, and then we can keep in mind the general direction of the bilateral ties, strengthen political trust and link our development strategies. "President Xi praised Erdogan and the Turkish government for their stance opposing all forms of terrorism as well as all attempts in Turkish territory to harm China's sovereignty and territorial integrity.

Xi Jinping added that China is willing to boost law enforcement and security cooperation between the two countries.

He said he looks forward to closer communications between legislatures and government agencies of the two countries to ensure their strategic cooperation progresses along the right track.

For his part, Erdogan stressed that the Turkish government sticks to the one-China policy, supports China's sovereignty and territorial integrity, and opposes terrorist activities of the East Turkestan Islamic Movement aimed at China.

"The two sides will celebrate the 45th anniversary of establishing diplomatic relations. We upgraded the bilateral relationship to strategic cooperative ties in 2010. Now we are taking solid steps to push forward the development of this relationship. I believe my visit here will enhance our mutual political trust and promote people-to-people exchanges. "Briefing the media following the leaders' meeting, Chinese vice Foreign Minister Zhang Ming said the two leaders also expressed willingness to link China's Belt and Road initiatives with Turkey's development strategy in pursuit of common prosperity.

"During the talks, President Erdogan showed great interest in the 'One Belt, One Road' initiatives, and expressed willingness to cooperate within this framework. The two sides believe that linking the Belt and Road initiatives with Turkey's development strategy can strengthen bilateral cooperation in all fields. For instance, Turkey has a grand plan of high-speed rail construction. Chinese enterprises are encouraged to take part in it."On the long-standing talks over Turkey's purchase of the Chinese long-range surface-to-air missile system, Zhang Ming declined to give more details, only saying it is the common wish of the two countries to strengthen defense cooperation.

Turkey, a NATO member, accepted a bid from a Chinese firm for its first anti-missile system back in 2013.

However, the 3.4 billion- US-dollar deal is yet to be signed due to U.S. and Western concerns.

Earlier on Wednesday, Erdogan laid a wreath at the Monument to the People's Heroes in Beijing and then met with the Chinese Premier Li Keqiang.

For CRI, I am Niu Honglin.

Call-in with Li Guofu on Turkish president's visit to ChinaAnchor:

For more on the Turkish president's visit to China, CRI's Lin Shaowen spoke earlier with Li Guofu, senior research fellow with China Institute of International Studies.

Back Anchor:

Li Guofu, senior research fellow with China Institute of International Studies, speaking with CRI's Lin Shaowen.

155 Chinese loggers will be handed over on July 31The Chinese government has confirmed the 155 Chinese nationals released as part of a mass amnesty in Myanmar are going to send back to China tomorrow.

The group is among some 7-thousand prisoners released by the Myanmar government under the amnesty.

The Chinese nationals were handed lengthy prison terms just over a week ago.

Many were given 20-year prison sentences under a decades-old law in Myanmar connected to the destruction of public property.

The stiff sentences for the loggers prompted official complaints from the Chinese government.

China, ASEAN vow to maintain peace on South China SeaSenior officials from China and ASEAN countries have been meeting to discuss the South China Sea.

Both sides have been working on the creation of a Code of Conduct, or COC, connected to disputes in the region.

Chinese vice Foreign Minister Liu Zhenmin says the creation of a Code of Conduct won't be a quick process.

"The disputes in the South China Sea cannot be solved in a short period of time, we must make long-time preparation for them. The aim is to control the conflicts, maintain peace and freedom of navigation. We are steadily against any outer forces to interfere with the issues through any kind of excuses. We are also against hyping up the issue to other international occasions. We hope the issue can be solved through the consultation between China and ASEAN countries, especially the COC and negotiations."China and ASEAN countries put out a Declaration on the Conduct of Parties in the South China Sea back in 2002.

That declaration is the base principles of how countries with claims in the South China Sea should handle the disputes.

Somali Officials Send Condolence to Chinese Victim Killed in Hotel AttackA number of leading Somali officials are moving to stand in solidarity with China in the wake of this week's deadly terrorist attack in Mogadishu.

Somali parliamentarian Mohamed Omar Dalha says his thoughts are with the victims of the attack.

"We are very sorry for what happened days ago at Al-Jazeera and the damage caused to the Chinese Embassy and other diplomatic compounds in the area. We are very sorry this had to happen to our good friend China. We send our deep condolences to the Chinese government and to the people of China. We have a good relationship with China."A member of the Chinese Armed Police Force guarding the Chinese embassy in Mogadishu was killed, along with 14 other people, following a massive suicide bombing outside the Al-Jazeera hotel on Sunday.

On top of killing the Chinese guard, the blast also did significant damage to the nearby Chinese embassy.

The Al-Jazeera hotel in Mogadishu is a popular spot for foreign dignitaries and diplomats.

Somali authorities say a German national of Somali decent set off the massive truck bomb on behalf of Somali militant group al-Shabaab.

It's believed the Chinese embassy was not the direct target.

Beijing receives international support for bidding for 2022 Winter OlympicsAnchor:

With the vote on which city will host the 2022 Winter Olympics less than 24-hours away, a chorus of international voices are throwing their support behind Beijing's bid to host the Games.

CRI's Victor Ning has more.

Reporter:

Sochi has impressed the world with the 2014 Winter Olympics. And Russian Vice Sports Minister Yuriy Nagornyh points out that Beijing also has rich experience in hosting international sports events, and adds that this qualifies Beijing for the Winter Olympics in every aspect.

"We've all witnessed the 2008 Beijing Summer Olympics. Beijing is one of the fastest developing cities, as well as an international metropolitan center with a rich sports tradition. Me and my colleagues think Beijing is in complete capability of hosting a successful Winter Olympics."During 2015 Milan EXPO, The Beijing Week has attracted numerous tourists. Director-general of Italian pavilion at the expo, Stefano Gatti, believes in Beijing's competence as a host city as well.

"Beijing is going to host the 2019 International Horticultural Exposition, after the 2010 Shanghai Expo. Considering the 2008 Beijing Summer Olympics, plus the fact that Beijing is bidding for the 2022 Winter Olympics, it is clear that Beijing is developing a tradition of hosting large-scale international events, it grants Beijing a great advantage in its 2022 Winter Olympics bid."In this past Spring Festival, Beijing also showed Beverly Hills' citizens in Los Angeles the concept behind the Beijing's bid for 2022 Winter Olympics.

The director of Marketing at Beverly Hill Conference and Visitors Bureau, Julie Wagner, expresses her expectations for Beijing hosting the 2022 Winter Olympics.

"I think the Summer Olympics was the most spectacular Olympics ever, and we are very supportive of the Olympic Games and think Beijing would be a spectacular choice for the Winter Olympics as well."Living and working in Beijing, Park Jin-Hwan, a Korean Broadcasting System former journalist in Beijing, and also the producer of documentary series Super China, also voices his support.

"I think Beijing 2008 Olympics is the most successful Olympics in history since the 1896 Athens Olympics. Beijing has earned the recognition not only as an economic giant, but as a cultural power as well. Especially for the opening ceremony on 8:08 pm, 8th August, China showed the power of 5000 years of history and civilization."Chairman of the Los Angeles Special Olympics 2015 Timothy Shriver believes Beijing will host a perfect Winter Olympics.

"You know I don't have a roll of selection, but China has shown it can host world-class events, at the highest possible level. If China is chosen, I know the games would be superb, I have no doubt about that. "The IOC will announce the host city of 2022 Winter Olympics on Friday.

For CRI, I'm Victor Ning.

Possible Debris of MH370 Found in Indian OceanAnchor:

Investigators from Malaysia are headed to the remote French island of Reunion in the Indian Ocean to try to determine whether debris found washed up on its shores is connected to missing Malaysia Airlines flight MH370, which disappeared in March of last year.

CRI's Guo Yan has more.

Reporter:

A piece of airplane debris has been discovered on the French island of Reunion, in the western Indian Ocean.

Aviation Expert Geoffrey Thomas says the part has been identified as a unique component of a Boeing 777, the same model as Flight MH370.

"This piece of wreckage is what's called a flaperon, it's used when you're slowing the aircraft down and for takeoff. But more importantly, it's used when they want to roll the aircraft to the left or the right. This piece of wreckage is also showing signs of delamination and that is consistent with a piece of composite structure and the Boeing 777 flaperons are made of composite structure, unlike most other aircraft. So, this is a very tell-tale sign that this is quite likely from a Boeing 777."Thomas adds that serial numbers on the debris will help identify whether it indeed belonged to the Malaysia Airlines flight that disappeared in March last year.

"In aviation, every single part of an airplane, all the millions of pieces, have a serial number, you can track it back to the day it was manufactured and so, yes, there will be markings on that, that'll tell Boeing yes it's from a 777 and yes it's from MH370."Airline Crash Investigator Dennis Hill says it is important to determine whether the serial numbers can still be retrieved from the part.

"I think as long as the part number and serial number can still be read, that's the big thing because that will help us understand if it's come from this aircraft or not. But, yes, evidence will deteriorate with time. Luckily, with so much metal in the structure it makes it a little bit easier, but it might be a bit tricky getting those part numbers."Malaysian officials are cautioning it still may take a couple of days to determine whether or not the debris is associated with MH370.

The flight disappeared on March 8th of last year while en route from Kuala Lumpur to Beijing.

The Boeing 777 aircraft was carrying 239 passengers and crew.

Most of the passengers are Chinese nationals.

The Chinese government says it is closely monitoring the situation at the moment.

If the debris turns out to be from the missing aircraft, it would be the first confirmation the plane had crashed into the Indian Ocean.

For CRI, I am Guo Yan.

Australian Deputy PM comments after aircraft debris foundAustralian Deputy Prime Minister Warren Truss says his government is following the new developments connected to the search for missing Malaysia Airlines flight MH370.

Truss says the discovery of possible wreckage on Reunion Island could fit into a potential scenario.

"Well, this wreckage is thousands of kilometres away from the search area. But wreckage in that area is consistent with the work that's being done in interpreting the satellite data, which has led to the selection of the search area. So, it's quite feasible that wreckage could have travelled that distance in the 16 months since the aircraft presumably went into the water."A section of what could be a Boeing 777 wing component has been found washed ashore French-controlled Reunion Island in the southern Indian Ocean.

It's covered in barnacles, suggesting its been under the water for quite some time.

Malaysian authorities are cautioning against speculation, noting no evidence of the missing plane has been confirmed in the nearly year-and-a-half since the flight disappeared.

Russia Vetoes Draft UN Resolution on Setting up Tribunal for MH17 CrashAnchor:

Russia has vetoed a draft resolution before the UN Security Council which had called for the establishment of an international tribunal to investigate the downing of a Malaysia Airlines jet over eastern Ukraine last year.

CRI's Qi Zhi has more.

Reporter:

The resolution had been drafted by Australia, Belgium, Malaysia, the Netherlands and Ukraine.

It sought to set up a special tribunal to try those responsible for shooting down flight MH17 over Ukraine.

In defending the veto, Russia's UN Ambassador Vitaly Churkin criticized what he said would have been criminal prosecution carried out "in a closed fashion.""Turning now to criminal prosecutions while it is carried out by the members of the JIT in a closed fashion. It was said that an agreement was reached between five sides on not disseminating information. In this case, what are the grounds to be assured of the impartiality of such an investigation? "China's UN ambassador Liu Jieyi has said the current focus should be on establishing the truth.

"Under the circumstance where some members of the council still have major concerns on the draft resolution, to forcibly push for a vote will only result in the division among the member states of the Council. This will not help ease the grief of the bereaved families of the victims of the crash of MH17, and will not help establish the facts and bring the perpetrators to justice."Liu has also stressed that China supports an objective, impartial and independent international investigation into the incident.

Ukraine and the West have pointed the finger at militants in eastern Ukraine, saying they may have used a Buk surface-to-air missile supplied by Russia to down the Boeing 777.

Moscow denies involvement and instead accuses Ukraine's military.

Malaysia's Transport Minister Liow Tiong Lai says he's disappointed at the vote.

"We are deeply disappointed at the failure to adopt a draft resolution to establish an ad-hoc international tribunal for MH17, despite our persistent effort to address council member concerns and to bridge our differences."The minister had earlier said a tribunal would be best placed to "deliver justice to the families of the victims."Flight MH17 from Amsterdam to Kuala Lumpur was downed over areas controlled by Ukrainian militants in the east during heavy fighting with government forces.

The majority of the 298 people on board killed were Dutch nationals.

For CRI, I'm Qi Zhi.

Afghanistan's intelligence agency confirms death of Taliban leaderAfghanistan's main intelligence agency claims its been able to confirm the death of Taliban leader Mullah Omar.

Abdul Sediqi with Afghanistan's National Directorate of Security says they've now confirmed earlier reports the elusive leader of the Taliban has been dead for over 3-years.

"Today, we officially confirm the death of Mullah Omar. Mullah Mohammad Omar, the Taliban leader, was sick and was in one of the hospitals of Karachi city in April of 2013 and died mysteriously there."The Afghan government says its making its assessment on information which it deems credible.

The US government also says the revelations would fit with information they've had for a while.

The Afghan Taliban, which denied the original report of Omar's death on Wednesday, has yet to comment on what the Afghan government is now saying.

Mullah Omar helped found the Taliban movement during the chaos of the Afghan civil war, recruiting followers out of the Madrassas, or religious schools, across Afghanistan's religiously-devout countryside.

Indian authorities hang Mumbai terror bombing convictIndian authorities remain on heightened alert following the hanging of one of the men convicted in the 1993 Mumbai bombings.

Yakub Memon was put to death this Thursday morning after exhausting his final appeals for clemency.

Despite the controversy surrounding his death sentence, Indian Parliamentary Affairs Minister Mukhtar Naqvi says Indian authorities are well within their rights to put Memon to death.

"The law has done its job. He (Yakub Memon) had committed a crime against humanity and disrupted the peace and harmony of our nation. He has been given a punishment according to the law."Memon was one of 11 people convicted for their role in the 1993 bombings in Mumbai which targeted a dozen different locations in the city, killing 257 and injuring over 700 others.

Indian authorities say they believe the bombings were retribution by members of India's Muslim-dominated criminal underground for the sectarian bloodshed just months before which saw roving gangs attack Muslims across Mumbai, leaving at least a thousand dead.

Memon, an accountant, had always maintained his innocence, saying it was his brother and a mafia don who coordinated the attacks.

He's the only one of the 11 convicted who didn't have his death sentence commuted to life in prison.

Memon's brother and the other suspected ring-leader have never been caught.

US police officer charged with murder in fatal shooting of black motoristAn Ohio police officer is now facing murder charges in connection with the shooting death of a black motorist.

Ray Tensing, a campus police officer at the University of Cincinnati, is accused of killing 43-year-old Samuel DuBose during a routine traffic stop earlier this month.

Prosecutor Joseph Deters says he believes the suspect should never been allowed to become a police officer.

"He wasn't dealing with someone who was wanted for murder, he was dealing with someone who didn't have a front license plate. This is, in the vernacular, a pretty 'chicken crap' stop, alright. I could use harsher words but nonetheless if he's starting to roll away just, seriously, let him go, you don't have to shoot him in the head. And that's what happened."Tensing originally told investigators he shot Dubose after dragging him in an attempt to get away.

However, the officer's body camera footage appears to refute his story.

Meanwhile, the city of Cincinnati is bracing for possible unrest.

Cincinatti saw riots broke out in 2001 after a police officer shot an unarmed 19-year-old black man who was wanted for traffic violations.

This case is the latest in a string of officer-related shootings involving white police officers and black victims.

UN projects world population to reach 9.7 billion by 2050A new UN report is suggesting the world population will reach 9.7 billion by 2050.

The analysis is suggesting around half of all the new growth in figures between now and then is going to be from Africa.

John Wilmoth with the UN's population division says high fertility rates in Africa are one of the main factors.

"Africa has the highest fertility level with around 4.7 children per woman. Even assuming a continuous decline in fertility, given this high starting point, we should anticipate a continued rapid growth of the African population which will roughly double in size between now and 2050."The same report also says India is going to overtake China as the most populous country in the world in around 7-years.

It is also warning of the trend toward an aging population, which the UN says is likely to be a major concern for Europe by 2050.

Headline NewsChina, Turkey pledge mutual support, closer cooperationChinese President Xi Jinping has held talks with his Turkish counterpart Recep Tayyip Erdogan in Beijing, with both leaders pledging mutual support on issues of major concern.

They agreed that China and Turkey should strengthen political trust and link their development strategies.

Xi Jinping said he appreciates Turkey's stance opposing all forms of terrorism as well as all attempts in Turkish territory to harm China's sovereignty and territorial integrity.

He also says China stands ready to link the Belt and Road initiative with Turkey's development strategy in pursuit of common prosperity.

For his part, Erdogan stressed that the Turkish government sticks to the one-China policy, supports China's sovereignty and territorial integrity, and opposes terrorist activities of the East Turkestan Islamic Movement aimed at China.

Malaysian official says debris found still cannot be confirmed as from Boeing 777Malaysian officials are cautioning it may still take a couple of days to determine whether debris which washed up on the shores of Reunion Island in the Indian Ocean is connected to missing Malaysia Airlines flight MH370.

A team from Malaysia has been dispatched to Reunion Island to investigate the find.

Initial reports have been suggesting the debris found on the remote French island in the southern Indian Ocean might be from a Boeing 777, the same model of airplane used on flight MH370.

The flight disappeared shortly after taking off on a flight from Kuala Lumpur to Beijing on March 8th, 2014.

Charges dropped against Chinese woman formerly accused of seed-theftA federal judge in the United States has dismissed charges against a Chinese woman accused of helping to steal high-tech corn seeds from U.S. companies.

The presiding judge in the US state of Iowa has thrown out the prosecution's main evidence against Mo Yun.

This has forced prosecutors to drop the case.

She's expected to leave the US back for China sometime this week.

Mo Yun, along with her husband and brother, had been accused of stealing patented corn seeds from a US company to ship back to China.

U.S. Senate confirms Dunford as next top military officerThe U.S. Senate has confirmed General Joseph Dunford as the next chair of the US military's Joint Chiefs of Staff.

Dunford, who has been the head of the US Marine Corps since October, will take over for General Martin Dempsey on October 1st as the top U.S. military officer.

Dempsey is set to retire in September.

Dunford began his career as an infantry officer, and eventually moved up to become the head of Afghanistan war coalition in 2013 and 2014.

Biz ReportsStocksAnchor:

Turning now to business news.

First a look at the numbers from across the Asian markets to close out this Thursday evening.

Joining me on the desk is CRI's Wang Mengzhen.

Reporter:

Chinese shares saw another return to sell-offs today following Wednesday's rebound.

Today, only around 100 shares gained more than 5 percent.

Sectors related to finance, banking and Internet security were the biggest losers, while shares in aviation and the tourism industry were among the very few winners.

Securities regulator have launched an investigation in "share-dumping" after an over 8 percent shock to the markets on Monday.

In response, state-owned AVIC Capital has sacked its general manager in connections with the allegations.

At close,The Shanghai Composite Index lost 2.2 percent.

Shenzhen Component Index fell 3.3 percent.

The ChiNext Index for growth entreprises tumbled 4.9 percent.

Meanwhile, Hong Kong stocks ended lower as well, with the Hang Seng dropped half of a percent.

Elsewhere in Asia,Tokyo shares ended higher today despite Japan's economy shrinks nearly 7 percent in the second quarter.

The Nikkei was up 1.1 percent.

South Korea's KOSPI dropped 1 percent.

Singapore's benchmark Straits Times Index also ended down 1.1 percnet today.

Finally, Australia's ASX 200 surged 0.8 percent.

Baofeng Technology loses over half market value in A share marketA favorite for Chinese investors on the A-share market has been taking a beating in recent weeks.

Baofeng Technology, which was trading as high as 320-yuan per share, has seen its overall market value cut by over half since its share-price peaked in May.

Baofeng, which went public back in March with an IPO price of just 7-yuan per share, is now trading at around 130-yuan per share.

The Shenzhen-listed tech firm lost its 10-percent daily limit today.

Industry observers are suggesting Baofeng is being sold off mostly by its institutional investors.

First cross-strait securities firm to be launched in Fujian FTZThe board of directors at Taiwan-based CTBC Financial Holdings has approved a plan to partner with a pair of mainland companies to create a new securities firm in the Fujian Free Trade Zone.

The joint venture is poised to become the first cross-strait brokerage firm dealing with mainland A-shares.

Once established, it will operate as an investment services platform.

As part of the deal, CTBC will hold a 49 percent stake, while the two mainland firms will hold the controlling stake.

Sovereign wealth fund CIC's Overseas Arm ExpandsA new international arm of China's sovereign wealth fund has been established.

China Investment Corporation Overseas has reportedly been given 5-bilion US dollars in initial seed money.

However, that figure is expected to expand to around 100-billion US dollars in the future.

Unlike CIC International, CIC Overseas will focus on managing the profits made from Foreign Direct Investment into China, as well as revenues generated through the Belt and Road Initiative.

For more on the creation of the new investment arm of CIC, The Beijing Hour's Shane Bigham spoke earlier with Cao Can, CRI financial commentator.

Back Anchor:

CRI financial commentator Cao Can speaking with The Beijing Hour's Shane Bigham.

93 more banks approved to issue certificates of depositChina's central bank has given approval for 93 additional banks in China, including 3 foreign lenders, to issue large-denomination certificates of deposit.

This brings the total number of banks allowed to issue the certificates to 102.

Nine banks, including the "big four" state-owned lenders, began issuing the first batch of certificates of deposit in mid-June.

The certificates of deposit are tradable deposit agreements that allow lenders to bypass interest rate controls.

Restrictions on lending rates here in China have been largely eliminated.

However, deposit rates are still capped at 1.5-times the benchmark.

US Fed fails to give clear timetable for rate hikeU.S. Federal Reserve has released a new statement, adding to suggestions an interest rate hike is still likely to come sometime later on this year.

The Wednesday statement by the Fed says the country's economy and job market has continued to improve since June.

But in making the statement, the US central bank failed to provide a timetable as to when it may raise rates again.

The statement also notes the Fed expects inflation to rise gradually to its 2 percent target.

Most observers are pointing to September as the likely time for the Fed to raise interest rates.

However, Chair Janet Yellen is on-record saying any increase will be driven by the latest economic data.

China credit card transactions hit 15.2 trillion yuan in 2014: reportNew stats show credit card payments in China last year increased by some 16-percent.

Nearly 2.5 trillion US dollars was spent through credit cards last year in China.

Xu Han with the China Banking Association says the numbers paint a picture of changing Chinese consumer habits.

"This shows that credit cards have truly become consumers' number one choice for daily payments. More and more people are using their cards anywhere, anytime. Credit cards are playing a more important role in people's daily life."Around 64-million new credit cards were issued last year, bringing the total in China to 460 million.

Shell to Cut 6,500 jobs amid lower oil priceRoyal Dutch Shell has announced plans to cut around 65-hundred jobs this year.

This comes on the heels of Shell reporting a 3.4-billion-US dollar profit in the second quarter.

Those numbers are down around 35-percent compared with the same period last year.

Shell is also planning to reduce its investments this year by some 20-percent to around 30 billion US dollars.

Meanwhile, Shell has also announced the sale of its 33-percent stake in its Japanese business Showa.

A number of big oil firms, including BP and Chevron, have also announced a series of cost-cutting measures to try to cope with the downturn in global oil prices.

SportsFINA World Championships Update and RecapIn wartersports action from the FINA World Championships in Kazan, Russia:

Going on right now,It's the Men's three-meter springboard prelims.

Coming up later tonight will be the three-meter men's springboard semis.

And the women's 10-meter platform finals, in which Chinese divers Si Yajie and Ren Qian will compete.

In earlier action:

Great Britain's Tom Daley and Rebecca Gallantree won the mixed team diving title at the FINA World Championships in Kazan, Russia on Wednesday.

The British pair, diving second of the 14 duos, won gold with 434.65 points.

China's Xie Siyi and Chen Ruolin managed a bronze medal. The Chinese duo couldn't get past Ukraine's Alexander Gorsh-Kovo-Zov and (sp) Yulia Prokop-chuk, who came in second in the inaugural event.

In synchronized swimming:

China's Huang Huechen won the battle for the silver medal in the best solo free routine.

But it was Russia's Natalia Ishchenko who won gold with her performance. It was Ishchenko's 18th world title.

Ona Carbonell of Spain secured the bronze.

UEFA Pres. Michel Platini Announces FIFA Presidential RunIn football news:

UEFA president Michel Platini has confirmed he will run for the FIFA presidency.

Platini wrote to member federations in Europe and asked for support.

The UEFA head says he decided to run because he wanted to "give FIFA back the dignity and position it deserves."Platini already has the backing of the English FA. While speculation about Platini's entrance into the FIFA presidential election circulated, presidential candidate Prince Ali bin al-Hussein of Jordan was previously seen as the one who had the backing of the European associations.

Now, that seems to be in question.

Prince Ali has already launched attacks against Platini, calling him "not good for FIFA and football."The Jordanian prince was beaten by current president Sepp Blatter in the election in May and is yet to announce whether he will run again.

Other names in contention for the presidency include former FIFA vice president Chung Mong-joon, Portuguese international Luis Figo and Brazilian great Zico.

Sepp Blatter will remain FIFA president until the re-election in February next year.

AC Milan vs. Barcelona in Shanghai TonightIn football action tonight:

AC Milan is in Shanghai to clash with Real Madrid for their International Champions Cup match, which kicks off at 8 p.m., Beijing time.

The game should tell whether AC Milan is still in the same league with Europe's elite clubs.

AC Milan has been functioning well under new coach Sinisa Mihajlovic in the pre-season, with three wins in four games--including their 1-0 win over crosstown rivals Inter Milan.

The new coach, on the job since June, brought his philosophy of dominating the game to the team.

"No matter who our opponents are, we will do our best to control the game and make our opponents struggle to catch up with our rhythm. Real Madrid started their summer training camp earlier than us. So they are very well-prepared. We are getting better in the last games. So in the next game, we will try to improve something and and we can get better from there."Real Madrid also have a new coach; Rafael Benitez says his aim is to strengthen the La Liga giants.

Paris Saint-Germain Wins Int'l Champions Cup N. American TrophyTaking a look at International Champions Cup action already in the books:

Paris Saint-Germain won the International Champions Cup North American title with a 2-0 win over Manchester United on Wednesday.

The French club needed to win by a two-goal margin to take the title over defending champions Man U, and did just that.

PSG's Blaise Matuidi held off the challenge of Phil Jones before poking the ball past De Gea for the games opener in the 25th minute.

A wonderful team move saw Zlatan Ibrahimovic double PGS's lead in the 34th minute.

The goals dried up in the second half. The 2-0 win for PSG earned the Ligue 1 champions the North American trophy, which was collected by their captain, Thiago Silva.

NFL: Tom Brady, NFLPA Sue League Over "Deflate-Gate" SuspensionIn American football news:

New England quarterback Tom Brady, his attorneys and the NFL Players Association filed a suit against the NFL in federal court on Wednesday in an attempt to vacate his four-game suspension for "deflate-gate.

The NFL suspended Brady after it determined that New England under-inflated its balls to make them easier to grip during their AFC Championship win against the Indianapolis Colts.

Patriots owner Robert Kraft came out in defense of Brady and says he regrets upholding the NFL's decision to suspend the star quarterback:

Six months removed from the AFC Championship Game, the league still has no hard evidence of anybody doing anything to tamper with the PSI levels of footballs. I continue to believe and unequivocally support Tom Brady.　I, first and foremost, need to apologise to our fans because I truly believe what I did in May - given the actual evidence of the situation, and the league's history on discipline matters - would make it much easier for the league to exonerate Tom Brady."New England head coach, Bill Belichick declined to comment on the scandal.

Tennis: Roger Federer Pulls Out of Roger's Cup Ahead of U.S. OpenIn other tennis news:

World no. 2 Roger Federer has pulled out of next month's Rogers Cup, the hard-court tournament that is considered the warm-up for the U.S. Open.

Federer issued a statement via Tennis Canada on Wednesday saying he is "disappointed" that he won't get to play in the Montreal tournament, but he "hopes to be back in the future."Tennis Canada spokeswoman, Valerie Tetreault, emailed the Associated press, saying that Federer "wants to make sure he will be in top shape for" the U.S. Open in August.

Federer has had a history of back problems, the most recent of which made him pull out of last year's ATP World Tour final match against Novak Djokovic.

Poland's Jerzy Janowicz will be Ferderer's replacement at the Roger's Cup, which takes place on August 10.

The U.S. Open, which is the last tennis grand slam of the year, starts on August 31.

Entertainment'The Crossing', 'Yang Guifei' Compete Head on in TheatresA pair of highly-touted Chinese films are now going head to head in theatres.

Labelled by some as the Chinese version of Titanic, "The Crossing Part 2" is the 2nd installment of the John Woo epic about the sinking of the "Taiping" travelling between the mainland and Taiwan during the Chinese civil war.

The first installment of the film has been widely criticized, with many who have seen it opening wondering why it needed to be split into two parts.

The second half of the movie, which is in 3D, is said to focus more on character development and the actual sinking of the ship.

"The Crossing Part 2" is now competing against another highly-anticipated Chinese epic.

"Lady of the Dynasty" is the love story between the imperial consort and the Emperor Xuan Zong of the Tang Dynasty.

The film stars Fan Bingbing and Hong Kong actor Leon Lai Ming.

The film already had a lot of buzz surrounding it, even before it hit theatres.

The premier featured a steamy scene involving the couple on a horse.

However, people in China who saw the film last night on its first day out say that scene appears to have been cut.

Singer Pu Shu Announces China Tour after 12 YearsChinese pop singer Pu Shu has announced a new tour, some 12-years after the release of his last studio album.

The announcement comes ahead of the release of Pu Shu's new full-length album, which is going to include 10 new songs.

Pu Shu will kick off the tour here in Beijing on October 17th, before traveling to Shanghai, Nanjing and Shenzhen.

It's unclear at the moment if more cities will be added to the list.

Spring Festival Gala under PreparationIt's been announced China Central Television has already begun the initial preparations for next year's Spring Festival Gala.

Preparations come some 6-months in advance of the annual variety show.

In making the announcement, CCTV has not detailed a list of potential directorial candidates for next year's show.

Last year's director, Ha Wen, will not be back for next year's show.

The annual Spring Festival Gala, which has been running for more than 3-decades, has been criticized in recent years for being out-of-touch with China's younger generation.

The Spring Festival Gala, to mark the start of the Year of the Monkey, will take place on February 8th.

Chinese films set for Venice Film FestivalOrganizers of the Venice Film Festival have announced the line up for this year, including entrants from Chinese cinema on the list.

Chinese film "Mr. Six" has been tapped to help close the festival.

Directed by Guan Hu, "Mr. Six" is story of a 50-year old who has reigned over the streets of Beijing as a petty criminal for years, only to discover one day that he no longer holds anymore power.

The film is scheduled for release here in China at the end of this year.

This year's Venice Film Festival will open with Hollywood film "Everest," which recounts the true-life climbing tragedy on the mountain which left 8 climbers dead while attempting to make the summit over 2-days in May of that year.

The Venice Film Festival, currently the oldest film festival in the world at the age of 72 this year, will run from September 2nd to 12th.

Tom Cruise Confirms 'Mission Impossible 6'

"Mission Impossible: Rogue Nation" star Tom Cruise has confirmed there will be another edition to the popular franchise.

Cruise says shooting for the next "Mission Impossible" film could begin as early as next summer.

"Rogue Nation" has just come out in theatres in the UK.

Previous films in the franchise have all had significant gaps of at least 4-years between them.

The franchise itself has generated over 2-billion US dollars in box office revenues.

"Mission Impossible: Rogue Nation" is due out in Chinese theatres on September 8th.

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

Xi Jinping and his visiting Turkish counterpart promising tighter ties as part of Recep Tayyip Erdogan's time in China.

A group of 155 Chinese nationals recently imprisoned in Myanmar will be headed back home to China tomorrow.

Malaysian investigators are headed to a remote island in the southern Indian Ocean to look into debris which may have come from missing flight MH370.

In Business.... a Taiwan firm is teaming up with a pair of mainland companies to launch a brokerage in Fujian.

On behalf of the Beijing Hour staffers, I'm Paul James in Beijing hoping you'll join us for our next edition of the Beijing Hour to open a window to the world together.