Driver dies as US band's bus overturns

SWISS police say a bus carrying the Marcus Miller Band, an American jazz group, has overturned - killing the driver and injuring several musicians.

Police in the central canton (state) of Uri said the German-registered private bus tipped over on Sunday as it drove into a bend and came to a rest on its side.

A police statement said the bus was carrying 13 people: two drivers and 11 members of the band, who were on their way from Monte Carlo to the Dutch town of Hengelo.

One of the drivers suffered fatal injuries. Several people were injured and taken to hospitals; police say none of them have life-threatening injuries.

The cause wasn't immediately clear. It appears no other vehicles were involved.

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China in first aircraft carrier landing

CHINA has conducted the first landing of a fighter jet on its new aircraft carrier in a move that extends Beijing's ability to project its growing military might in territorial disputes.

The Chinese-made J-15 made the successful landing on the Liaoning, a former Soviet carrier, during recent exercises, the defence ministry said in a report on Sunday on the flight tests.

The Liaoning went into service in September in a symbolic milestone for China's growing military muscle that comes at a time when Beijing is increasingly embroiled in a series of territorial disputes with its neighbours.

"The successful landing ... has always been seen as a symbol of the operating combat capability for an aircraft carrier," Zhang Junshe, a vice-director at the military's Naval Affairs Research Institute, told state television.

"This is a landmark event for China's aircraft carrier ... and (moves it) one step closer to combat readiness."

Video carried by China Central Television showed a tail hook on the rear of the J-15 catching hold of a cable on the deck of the aircraft carrier as the jet landed and slowed to a halt.

China had not previously announced that its navy possessed such highly technical cable landing technology.

The J-15 had also successfully taken off from the aircraft, the ministry said.

The J-15 is a Chinese designed multi-purpose carrier-borne fighter jet based on Russia's Sukoi 33, equipped with Russian engines and capable of carrying precision-guided bombs, press reports said.

Since the carrier entered service, the crew have completed more than 100 training and test programs, the ministry said.

China bought the stripped-down 300-metre carrier from Ukraine nearly 10 years ago and refurbished it at the northeastern port of Dalian.

Construction of the vessel, formerly known as the Varyag, was commissioned by the former Soviet Union more than 20 years ago, but work halted with the sudden collapse of the Soviet bloc.

The Liaoning - named for the northeastern province that includes Dalian - is not expected to be fully operational for another three years at least.

Over the past year, China has become increasingly assertive over its long-time maritime territorial claims as its economic and military power have expanded, causing rising anxiety among its neighbours.

Tensions in the East China Sea have risen dramatically in recent months over islands known as the Diaoyus to Beijing and claimed by Tokyo as the Senkakus.

China is locked in a similar row with Vietnam and the Philippines in the South China Sea.

At a key Communist Party congress earlier this month, outgoing President Hu Jintao urged the nation to push forward fast-paced military modernisation and set the goal of becoming a "maritime power".

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Newman says rest of LNP MPs are loyal

QUEENSLAND Premier Campbell Newman has refused to say whether he's checking his MPs loyalties after one defected to Katter's Australian Party (KAP).

Veteran MP Ray Hopper, the member for the rural seat of Condamine, resigned from the Liberal National Party (LNP) on Saturday night to join the KAP.

Mr Newman says Monday afternoon's party room meeting will give all MPs a chance to discuss the matter.

"It'll give people an opportunity to express, no doubt their dismay about the way the member of Condamine has let down his people," he told reporters on Sunday.

But when asked if he'll be seeking loyalty pledges from MPs, he said: "My people are totally committed to getting the economy of Queensland going."

Opposition Leader Annastacia Palaszczuk said it's likely a lot of phone calls were being made.

"I think it's going to be a very interesting party room meeting," she said.

Mr Hopper said he left the LNP because it's not governing for regional communities and "is at war with itself".

Cabinet will also meet on Monday morning.

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Merkel defends snip with angry Jews

ANGELA Merkel sought to ease the concerns of Germany's Jews over a disputed ruling against circumcision.

Ms Merkel became the first chancellor to address the Jewish community's annual council meeting in a bid to ease concerns about the ruling.

"The respecting of religious ritual is a fundamental good," she told the annual gathering of the Central Council of Jews in Germany in the western city of Frankfurt.

"I am delighted ... that there is a lively Jewish community in Germany," added the chancellor.

In a ruling published in June, a court in the western city of Cologne judged the rite to be tantamount to grievous bodily harm, prompting international outrage and calls for more legal clarity.

The Cologne ruling united Jewish and Muslim groups in opposition and German diplomats admitted privately that it had proved "disastrous" for Germany's international image, particularly in light of its Nazi past.

Merkel was reported to have cautioned that Germany risked becoming a "laughing stock" if circumcision were banned in the country.

Last month, Merkel's cabinet passed a draft law to permit circumcision and clarify the legal situation.

She said she believed it to be a "balanced text".

"I hope it can be agreed in the Bundestag before Christmas," she added, referring to the German lower house of parliament.

The new bill stipulated certain provisos for a boy to be circumcised.

Among these conditions, the draft law said the practice must be carried out "professionally" and "with the most effective pain relief".

An exception must also be made in individual cases if there are health risks, for example if the infant is suspected of being a haemophiliac.

The head of the central committee for Jews in Germany, Dieter Graumann, thanked Merkel for her assistance in what he described as "difficult times."

"It is important that German politicians acted and came up with legislation that we can live with," Graumann said.

"This visit has done us good in a time that is difficult for us," he added.

Merkel also used the visit to reiterate Berlin's support of Israel following eight days of violence in and around Gaza, which left 166 Palestinians and six Israelis dead.

"Every country has the right to defend itself. This is not only the right but also the duty of every government," added Merkel.

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Europe mulls Greece 'haircut' in 2015

EUROZONE finance ministers are considering a possible "haircut" for Greece in 2015, a German newspaper reports, in a bid to reduce the recession-wracked country's debt mountain.

Other eurozone countries and institutions like the European Central Bank could be ready to discuss writing down a part of their Greek debt holdings to put Greece's debt on a more sustainable footing, said the Welt am Sonntag.

The issue was discussed at a secret meeting of ministers and officials in Paris on Monday, the paper said, without citing sources.

Such a haircut might be used as an added incentive for Greece to carry out the reforms required in its second aid package, which runs out in 2014, according to the Welt am Sonntag.

Germany has been firmly opposed to taking a loss on its holdings of Greek debt, unwilling to ask German taxpayers to foot the bill for keeping Athens in the eurozone.

The ECB has also ruled out such a move, saying it is tantamount to financing Greece directly, strictly forbidden by its founding treaties.

But the Spiegel newsweekly reported that the ECB, as well as the International Monetary Fund, now considered a haircut unavoidable.

Nevertheless, Joerg Asmussen, a member of the ECB's executive board, dismissed the plan.

"To close the financing gap, we need a package of measures that would include, among other things, a clear reduction of the interest rate on aid and a debt buy-back program for Greece," Asmussen told the Bild newspaper.

"A haircut does not belong to this (package)," the German central banker said in comments to appear in Monday's edition of the newspaper.

By writing off half of their Greek debt holdings, eurozone governments and institutions could drive down Greece's debt to 70 per cent of output in 2020, compared to 144 per cent, wrote Spiegel.

Eurozone ministers meet on Monday for their third effort to agree on unlocking a 31.2 billion euro ($A39 billion) slice of aid for Greece as it teeters on the verge of bankruptcy.

Both Welt am Sonntag and Spiegel wrote that the haircut issue would not be decided at Monday's talks.

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Dubai plans world's largest mall, new city

DUBAI famed for its mega-projects before it was hit by the global financial crisis, has announced a new development to open the world's biggest mall and a park larger than London's Hyde Park.

The ruler of the Gulf desert city state, Sheikh Mohammed bin Rashid al-Maktoum, announced the plan for a "new city within Dubai," according to an official statement on Saturday, naming it after himself.

No cost was stated for "Mohammed bin Rashid City," to be carried out by his Dubai Holding and the publicly-listed Emaar Properties, which developed many of Dubai's prestigious projects, including Burj Khalifa, the world's tallest tower.

The plan also features new residential areas, although the emirate continues to have a surplus of units built during a five-year bubble which burst in 2009.

The "Mall of the World" will have a capacity of 80 million visitors a year to become the "largest in the world," said the statement, while its park will be "30 per cent bigger than Hyde Park of London."

The mall will be connected to a family entertainment centre to be developed in cooperation with Universal Studios International that will be the largest in the region, aiming to attract six million visitors a year.

The emirate already has countless malls and hotels, including the Dubai Mall, touted as the world's largest shopping, leisure and entertainment destination, with 62 million visitors this year.

"The current facilities available in Dubai need to be scaled up in line with the future ambitions for the city," Sheikh Mohammed said in the statement.

Dubai's tourism is growing by 13 per cent a year, according to the statement, with hotel occupancy hitting 82 per cent in 2011 while hotel revenues grew 22 per cent last year, exceeding 16 billion dirhams ($4.26 billion).

The emirate rocked global financial markets in autumn 2009 over its debt crisis, but Dubai has restructured the mountain of debt owed by its corporations, and its economy has returned to growth after contracting in 2009.

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India to log 5.5% quarter growth: minister

INDIA'S economy logged around 5.5 per cent growth in the last financial quarter, a rate that could boost calls for lower interest rates to spur activity.

India's once-booming economy has been hit by high interest rates, Europe's debt crisis that has slowed exports, and sluggish investment caused by domestic and overseas concerns about policy and corruption.

Finance Minister P Chidambaram on Saturday said he expected official data to be released next Friday to show that the economy grew by "around 5.5 per cent" in the three months to September 30.

That would be down from 6.9 per cent in the same second-quarter period a year earlier.

"It goes without saying that we face a difficult situation," Chidambaram said at a bankers' conference, adding the "global economy is still in crisis".

India's economy was growing by more than eight per cent before 2011/12.

But it has been performing increasingly worse with the Congress-led government of Prime Minister Manmohan widely criticised for its handling of the situation.

Even though 5.5-per cent growth would be the envy of much of the world, it is not enough for India, which has been aiming for close to double-digit expansion to substantially reduce crushing poverty.

"For us eight per cent growth is not an aspiration but a necessity. India cannot afford to grow below eight per cent," Chidambaram said.

The slow growth comes at a time when it is more difficult for the Indian government to pep up the economy than in the 2008/09 financial crisis.

Then, the government had more fiscal room to stimulate the economy but now it is struggling to cut a widening budget deficit and avert a downgrade of its sovereign debt to "junk" status by global credit ratings agencies.

In addition, the central bank has been keeping interest rates high to combat stubbornly high inflation.

Inflation eased marginally in October to 7.45 per cent year-on-year, but economists said the level is still too high to permit the bank to lower rates.

Indian businesses have been calling for lower rates, saying the slowdown is in large part due to high borrowing costs that have curbed consumer spending.

Chidambaram said India must boost growth "through innovation, through finding ways of increasing the production of goods and services".

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