SEC Denies A Second Application To List Bitcoin Product

(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)

SEC denies a second application to list bitcoin product

By Trevor Hunnicutt | NEW YORK

The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency.

The SEC announced in a filing its decision denying Intercontinental Exchange Inc’s NYSE Arca exchange the ability to list and trade the SolidX Bitcoin Trust, an exchange-traded product (ETP) that would trade like a stock and track the digital asset’s price. Previously, the regulatory agency said it had concerns with a similar proposal by investors Cameron Winklevoss and Tyler Winklevoss.

“The Commission believes that the significant markets for bitcoin are unregulated,” the SEC said in its filing, echoing language from its decision earlier this month on the application by CBOE Holdings Inc’s Bats exchange to list The Bitcoin ETF proposed by the Winklevoss brothers. On Friday, Bats asked the SEC to review its decision not to allow that fund to trade.

“We are reviewing the SEC’s order and evaluating our next steps,” said Daniel H. Gallancy, chief executive officer of SolidX Partners Inc, a U.S. technology company that provides blockchain services. NYSE did not immediately respond to a request for comment.

Bitcoin had scaled to a record of more than $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset.

But after denial of the Winklevoss-proposed ETF, the digital currency’s price plunged as much as 18 percent. It has rebounded partially since then and was at $1,041 on Tuesday, roughly unchanged from the previous day.

Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government.

Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments.

There is one remaining bitcoin ETP proposal awaiting a verdict from the SEC. Grayscale Investments LLC’s Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year.

(Reporting by Trevor Hunnicutt; Additional reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Cynthia Osterman)

Erdogan Says Turkey May Hold Referendum On EU Accession Bid

(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY) 

Erdogan says Turkey may hold referendum on EU accession bid

President Tayyip Erdogan said on Saturday that Turkey may hold a second referendum on whether to continue with European Union accession talks following a planned vote on April 16 that could give him sweeping new powers.

“Right now we are holding a referendum on April 16 and after that we could choose to do a second one on the (EU) accession talks and we would abide by whatever our people would say there,” Erdogan told a forum in the southern city of Antalya.

Turkey began EU accession talks in 2005 but they have moved very slowly due to disagreements over Cyprus, human rights and other issues. Relations between Ankara and Brussels have become particularly strained in recent months.

(Reporting by Humeyra Pamuk; Editing by Gareth Jones)

Man Stabs Four Neighbors To Death In Northern Portugal

(THIS ARTICLE IS COURTESY OF REUTERS)

Man stabs four neighbors to death in northern Portugal

A Portuguese man stabbed four people to death in a rural area in the north of the country on Friday before surrendering to police, who said all the victims were the suspect’s neighbors.

The man confessed to killing an elderly couple and a woman in their homes, and then another woman in the street in Tamel, a village on the outskirts of Barcelos, some 380 km north of Lisbon.

“The suspect has surrendered and confessed the crimes,” said a duty police officer in the regional center of Barcelos, adding that all the victims died from neck wounds.

“The investigation continues and is looking into the motives, but it appears to be a local problem between neighbors.”

(Reporting By Andrei Khalip, editing by Axel Bugge and Toby Davis)

Demonetisation Be Damned! The Indian Rupee Is On A Tear

(THIS ARTICLE IS COURTESY OF QUARTZ INDIA)

LOOK AT IT FLY

Demonetisation be damned! The Indian rupee is on a tear

March 17, 2017 Quartz India

It’s been a great week for the Indian rupee.

On March 16, at Rs65.41 per US dollar, the currency hit a one-year high against the greenback.

Much of the strengthening has to do with the ruling Bharatiya Janata Party’s (BJP) recent electoral wins in Uttar Pradesh and Uttarakhandand solid performances in two other states. The strong showing reflects just how well the party is positioned to sweep the next general elections in 2019 and hand Narendra Modi a second term as prime minister. Some of that magic is rubbing off on the markets.

“Since the start of the week, equity markets and the Indian rupee have rallied sharply in response to the strong performance of the main ruling party in recent state elections,” DBS Bank said in a March 16 report.

So far, the Indian currency has been the third-best performing in Asia in 2017. The rupee has gained 3.4% this year against the US dollar, only trailing the South Korean won and the Taiwanese Dollar.

Meanwhile, the US Federal Reserve’s interest rate hike on March 15—only the third since the economic crisis of 2008—hit the dollar. When the US dollar falls, capital outflows from emerging markets are restricted, thus strengthening local currencies like the Indian rupee.

The rupee’s strengthening comes after a free fall triggered by Modi’s move to demonetise 86% of the currency notes (by value) in November 2016. Initially it had been estimated that the currency ban would dent the GDP and take a toll on the economy.

In January, a Reuters poll of some 30 foreign exchange strategists had estimated that the Indian currency could see a record fall this year because of the currency ban. But India’s Central Statistical Office’s estimates show that the economy grew at 7% during the October-December 2016 quarter, and the rupee is holding strong.

One reason for the rupee’s surge is also that the macro-economic factors that influence a currency—inflation and current account deficit (CAD)—are looking good for India at the moment. While inflation is being restricted in its safe zone of sub 6%, India’s CAD (the excess of imports over exports) has also been falling.

What next

A strong rupee is good news for corporate India. Many firms hold debt in foreign currencies, so a fall in the exchange rate means their interest outgo will reduce. “Many Indian entities including short-term trade finance people remain unhedged for their offshore liability. They (companies) are likely to have gained from the rupee’s sharp rise in the last few days. At least, interest liability has reduced, adding to balance sheet gains,” Jayesh Mehta, country treasurer at Bank of America told the Economic Times.

However, the Reserve Bank of India (RBI) could soon step in to stabilise the rupee’s movement. Some reports suggest that the central bank already is buying dollars through public sector banks.

“The rupee appreciation, we feel is not sustainable and would revert to the range of Rs66-66.5 range, to begin with as the fundamentals do not warrant such unbridled enthusiasm,” a report by CARE Ratings said. “The outcome of the elections has been the main driving force. A strong rupee may not be good for our exports and the RBI is cognizant of the same.”

Egypt, Jordan Agree On Importance Of Resuming Negotiations For A Palestinian State

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT AND REUTERS NEWS)

Middle East

Egypt, Jordan Agree on Importance of Resuming Negotiations for a Palestinian State

Ayman al-Safadi, Reuters

Cairo- Egyptian Foreign Minister Sameh Shokry and his Jordanian counterpart Ayman al-Safadi met for three hours in Cairo on Thursday to discuss crises and recent challenges facing the Arab region.

“It’s time to clear up the Arab atmosphere and provide a minimum of consensus on resolutions issued by the Amman summit, to deal with all crises, conflict, war and terrorism tearing the region apart,” said Safadi.

He also pointed to the possibility of reaching Arab unanimity, despite existing differences in a desire “to spare the region further devastation threatening security and stability of Arab states.”

The two FMs held a press conference following talks in Cairo to discuss the latest developments in the region, including the Palestinian peace process and Egyptian-Jordanian relations.

Safadi, who arrived in Cairo early Thursday, hoped the upcoming Arab League summit to be held in March in Amman would enhance joint Arab action in a way that improves capability of addressing crises affecting the Arab world.

Safadi replied to a Syria question with “Jordan is taking part in Astana’s Syria peace talks as an observer and supports any effort that aims at reaching a ceasefire across Syria, especially in the southern region closer to Jordan’s northern border.”

The Astana talks are not an alternative to the Geneva efforts that form the main framework of reaching a political solution to the Syrian conflict, the minister highlighted.

He also said that discussions with Shokry addressed the major challenges facing the Arab world and ways to address them, underlining Cairo’s important role in enhancing the regional stability and security.

Jordanian-Egyptian consultation and coordination not only aim at serving bilateral relations, but also seek to serve the interests of the Arab nation and its peoples to enhance joint Arab action and maintain pan-Arab security, Safadi stressed.

The minister also highlighted the significance of increasing the level of coordination among Arab countries to find solutions to regional crises, especially the Israeli occupation of Palestinian territories, the Syrian war and the developments in the Libyan arena.

For his part, Shokry expressed hope that the Arab summit will boost joint Arab action and serve Arab national security, voicing Cairo’s readiness to help Amman in organizing the summit.

Egypt Pharaoh Statue ‘Not Ramses II But Different Ruler

(THIS ARTICLE IS COURTESY OF THE BBC)

Egypt Pharaoh statue ‘not Ramses II but different ruler’

Denmark's Prince Henrik (left) looks at the statue belonging to King Psamtik I, outside the Egyptian museum in Cairo on 16 March 2017Image copyright REUTERS
Image caption The massive statue – pictured with Denmark’s Prince Henrik, left – was at first thought to be Ramses II, also known as Ramses the Great

An ancient statue which was pulled from the mud in Cairo is not the Pharaoh Ramses II, but could be another king, Egypt’s antiquities minister has said.

Khaled el-Anani told a news conference the statue was almost certainly Psamtek I, who ruled between 664 and 610BC.

Experts had thought the statue was Ramses, who ruled 600 years earlier, because it was close to a temple dedicated to the ruler.

But one of Psamtek’s five names was found engraved on the huge statue.

Even so, the find is still significant, Mr Anani said.

“If it belongs to this king, then it is the largest statue of the Late Period that was ever discovered in Egypt,” Ahram Online reported him as saying.

Egyptian Minister of Antiquities Khaled Al-Anani stands beside the colossus explaining new evidence pointing to it depicting Psamtek I in CairoImage copyright REUTERS
Image caption Egyptian Minister of Antiquities Khaled Al-Anani explains new evidence pointing to it depicting Psamtek I in Cairo
Egyptians look on as a crane lifts parts of a statue for restoration after it was unearthed at Souq al-Khamis district, at al-Matareya area, Cairo, Egypt, 13 March 2017Image copyrightEPA
Image captionPart of the torso was hauled from deep muddy groundwater using a crane on Monday

The discovery was made after they moved the statue – which was nine metres (29ft) tall originally – from a wasteland in between apartment blocks on the site of the ancient capital, Heliopolis, to the Egyptian museum in central Cairo.

It was found by an Egyptian-German archaeological team, and was partially submerged in water, and had split into a number of parts. Its torso alone weighed three tonnes.

The Ministry of Antiquities said it hoped the two parts could be put back together again.

Media caption Egyptian Antiquities Minister Khaled Al-Anani described “the big discovery of a colossus of a king”

SWIFT Messaging System Cuts Off Remaining North Korean Banks

 

(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)

SWIFT messaging system cuts off remaining North Korean banks

By Tom Bergin | LONDON

SWIFT, the inter-bank messaging network which is the backbone of international finance, said it planned to cut off the remaining North Korean banks still connected to its system, as concerns about the country’s nuclear program and missile tests grow.

SWIFT said the four remaining banks on the network would be disconnected for failing to meet its operating criteria.

The bank-owned co-operative declined to specify what the banks’ shortcomings were or if it had received representations from any governments.

Experts said the decision to cut off banks which were not subject to European Union sanctions was unusual and a possible sign of diplomatic pressure on SWIFT.

Belgium-based SWIFT has previously refused to cut off Burmese, Russian or Syrian banks which were subject to sanctions by other countries, such as the United States, citing a policy of remaining politically neutral.

SWIFT ignored years of pressure linked to Iran’s nuclear program, and only cut off Iranian banks in 2012 after the EU passed specifically tailored sanctions. SWIFT is overseen by the central bank of Belgium which is subject to EU law.

“The DPRK (Democratic People’s Republic of Korea) banks remaining on the network are no longer compliant with SWIFT’s membership criteria,” SWIFT spokeswoman Natasha de Teran said in a statement.

“As a result, these entities will no longer have access to the SWIFT financial messaging service. Given the increased ongoing international attention on the DPRK, SWIFT has informed the Belgian and EU authorities,” she added.

Last week, the Belgian authorities said they would no longer allow SWIFT to provide services to North Korean banks which were under U.N. sanctions.

That followed a U.N. report in February that said North Korea was relying on continued access to the international banking system to flout sanctions imposed in relation to its nuclear program.

Former SWIFT chief executive Leonard Schrank said the only previous occasions he could remember when SWIFT had cut off banks not subject to EU sanctions was when the banks had lost their banking license or a country’s central bank had ceased functioning.

“This is a very, very serious action,” he said, adding it could open SWIFT up to pressure in respect of other countries.

A spokesman for the European Commission denied leaning on SWIFT: “This is a commercial matter for SWIFT. We do not interfere in the business decisions of any such company,” he said.

The U.S. Department of the Treasury and Belgian Foreign Ministry did not respond to requests for comment.

(Editing by Robin Pomeroy)

Turk President Er- Dog’ The Dictator Dares To Threaten EU Countries About Democratic Values?

(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)

By Ercan Gurses and Humeyra Pamuk | ANKARA/ISTANBUL

Turkish President Tayyip Erdogan on Tuesday warned the Netherlands that he could take further steps in a deepening diplomatic row, while a government spokesman in Ankara said economic sanctions could be coming.

Incensed by Dutch and German government bans on his ministers from speaking to rallies of overseas Turks, Erdogan also accused German Chancellor Angela Merkel of siding with the Netherlands in the fight between the NATO allies.

Turkey suspended high-level diplomatic relations with the Netherlands on Monday, banning the Dutch ambassador from the country and preventing diplomatic flights from landing in Turkey or using its airspace.

Those steps were taken after Erdogan branded the Netherlands “Nazi remnants” at the weekend for muzzling his ministers.

“The cabinet took action yesterday but there are many other things that could be done against the Netherlands,” Erdogan said in a speech broadcast live on television.

“We will show those who think they can get away with an apology that they are making a mistake,” said Erdogan, who is campaigning for an April 16 referendum on boosting his powers and has been looking to the large number of Turks living in Europe to help secure victory.

Deputy Prime Minister Numan Kurtulmus later told broadcaster CNN Turk that economic sanctions could be in the works.

“Pressure will continue against the Netherlands until they make up for what they did. We’ve started with the political, diplomatic sanctions, and economic sanctions may follow,” he said.

Erdogan has threatened to take the Netherlands to the European Court of Human Rights over the ban on his ministers, which both the Dutch and Germans have imposed citing fears of unrest.

Dutch police used dogs and water cannon on Sunday to disperse hundreds of protesters waving Turkish flags outside the consulate in Rotterdam. Some protesters threw bottles and stones and several demonstrators were beaten by police with batons, a Reuters witness said. Mounted police officers charged the crowd.

SAARLAND, BELGIAN BANS

The small western German state of Saarland said on Tuesday it would ban political campaigning by foreign politicians.

“Internal Turkish conflicts have no place in Germany. Election appearances which put at risk domestic peace in our country must be banned,” State Premier Annegret Kramp-Karrenbauer said in a statement.

“The atmosphere that has been created by Nazi comparisons and insults must not be allowed to escalate,” she said.

The Belgian city of Antwerp said it would not allow a politician from the nationalist MHP party to speak at an event, although Ali Guler was still set to appear on Sunday at a Turkish restaurant in Genk, in the east of the country.

While Turkish law forbids election campaigning abroad and in diplomatic missions, ministers are circumventing the ban by holding what they say are cultural events with Turkish citizens.

Erdogan has said that those who oppose the referendum, are aligning themselves with terrorists. He has also accused European states, including Germany, of harboring terrorism, an allegation they deny.

SHARP WORDS FOR MERKEL

EU states are also unhappy with what they see as an increasingly authoritarian tone from Turkey and the spat is likely to further dim Ankara’s prospects of EU membership.

EU foreign policy chief Federica Mogherini and EU enlargement commissioner Johannes Hahn called on Turkey to moderate its language and avoid further escalating the dispute.

Erdogan renewed his attack on Merkel after she criticized his “Nazi remnants” jibe against the Dutch.

“The countries that have embraced this thuggery have lost all their credibility. The Chancellor of Germany has come out and said she supported the Netherlands. We know that you are no different from them,” Erdogan said.

Dutch Prime Minister Mark Rutte said the Turkish sanctions, while “not too bad”, were inappropriate as the Dutch had more to be angry about.

Ankara’s foreign ministry said the European Union was exercising democratic values selectively.

“It is very grave for the EU to hide behind member country solidarity and stand by the Netherlands, which has clearly violated human rights and European values,” it said.

(Additional reporting by Tuvan Gumrukcu, Ece Toksabay and Tulay Karadeniz in Ankara, Daren Butler in Istanbul; Toby Sterling in Amsterdam; Madeline Chambers in Berlin and Robert-Jan Bartunek in Brussels; Writing by David Dolan; Editing by Jon Boyle and Toby Davis)

South Korea Actively Considering Filing A Complaint With The WTO Against China

(THIS ARTICLE IS COURTESY OF REUTERS NEWS) 

South Korea’s government will consider filing a complaint to the World Trade Organization against what they described as China’s trade retaliation after Seoul agreed to deploy a U.S. anti-missile system, the ruling party said on Tuesday.

Beijing is widely believed in South Korea to be retaliating against some of its companies and cancelling performances by Korean artists after South Korea’s decision to deploy the Terminal High Altitude Area Defense (THAAD) system.

“We will actively consider whether China’s action is in violation of the South Korea-China free trade deal, while stepping up efforts to minimize damage on South Korean industries,” Lee Hyun-jae, chairman of the Liberty Korea Party’s policy committee, said after meeting senior government officials.

China rejected applications by some Korean carriers, including Jeju Air (089590.KS), to add charter flights between the two countries in March, Yonhap News Agency said on Tuesday, in what is seen as China’s latest retaliation against South Korean firms. Their applications for charter flights to China were rejected for January and February, with no reason given, Yonhap said.

The Chinese government last week ordered tour operators in China to stop selling trips to South Korea, days after the Seoul government secured land for the THAAD system from Lotte Group.

Lee said on Tuesday the government had since agreed to provide an additional 50 billion won ($43.3 million) worth of “special loans” to tourism companies that are experiencing business difficulties.

Chinese authorities have also closed nearly two dozen of Lotte Group’s retail stores following inspections, Lotte said on Monday.

China objects to the THAAD deployment, saying its territory is the target of the system’s far-reaching radar. South Korea and the United States have said the missile system is aimed only at curbing North Korean provocations.

(Reporting by Daewoung Kim and Hyunjoo Jin, Additional reporting by Joyce Lee; Writing by Hyunjoo Jin; Editing by Paul Tait)

Bahrain Arrests 54 Members Of Iran-Linked Terrorist Cell

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT)

 

Middle East

Bahrain Arrests Iran-Linked Terror Cell

 Bahrain goes through its fourth parliament election next month. REUTERS/Hamad I Mohammed

Manama – Bahrain said on Saturday it had uncovered a 54-member Iranian-linked terror cell suspected of involvement in attacks on security forces, including organizing a prison break in January, and seized automatic weapons.

The organization includes 12 defendants in Iran and Iraq, another one in Germany and 41, including the 10 convicts who had escaped from prison, in Bahrain.

Manama frequently accuses Iran of fomenting civil unrest and supporting attacks against security forces, allegations which Tehran has long denied.

It was one of the biggest security operations against suspected militants Bahrain blames for an increase in armed attacks on security forces in the Western-allied kingdom, where the US Fifth Fleet is based.

Chief of Terror Crime Prosecution Advocate General Ahmed al-Hammadi has revealed the existence of a terrorist organization comprising 54 members.

Hammadi added that 25 members of the cell who had carried out acts of terror had been arrested and that the investigations by the Public Prosecution were still ongoing.

“The Public Prosecution had received a report from the General Director of Criminal Investigation and Forensic Science on the search and investigation efforts regarding the escape of 10 convicts from the Reform and Rehabilitation Centre in Jaw on January 1, 2017 and which resulted in the death of a policeman from the prison guards force,” Hammadi announced.

Hamadi stressed that the investigations revealed that the movements of the terrorists to other countries were coordinated by one of the cell leaders based in Germany.

The leader made the arrangements for several members to go to Iran and Iraq to receive training in the use of explosives and firearms at the Iranian Revolutionary Guard camps ahead of carrying out their terrorist crimes in Bahrain.

The leaders and members of the organization had prepared and made plans for a number of terrorist crimes in order to disrupt public order, endanger the safety of the Kingdom, put its security at risk, undermine national unity and obstruct public authorities from carrying out their work, Hammadi added.

Advocate General stressed that, based on the information confirmed by the investigations and the sufficient and acceptable evidence about the crime details and the perpetrators, the Public Prosecution issued a warrant to inspect the locations identified by the confessions and testimonies in order to seize the explosives, firearms, ammunition, documents and tools related to the crimes and stored by the suspects.

Public Prosecution inspected the crime scenes, confiscated all the seized items and ordered the competent technical authorities to examine the evidence and draft reports.

He added that the security authorities arrested several suspects in accordance with the provisions of the law that protect society from acts of terrorism.

The suspects were referred to the public prosecutor who questioned them in accordance with the prescribed legal procedures.

Advocate General also said that the investigations and the confessions of the suspects revealed the facts about the establishment of the terrorist organization and its composition as well as how the fugitives in Iran and Iraq communicated with its members in the Kingdom in the prison and outside to recruit other elements and provide them with explosives, firearms and ammunition of various kinds that had been smuggled into the country.

They also provided them with the necessary funds for their livelihood and for the activities of the organization and coordinated with the fugitive leader in Germany to arrange the travel of some members to Iran to be trained on the use of explosives and firearms in the Revolutionary Guard camps to prepare them to carry out terrorist crimes in Bahrain.

The members provided them with plans to commit terrorist operations, the means to prepare their implementation, the weapons and explosives as well as the means to film them with drones to broadcast them for propaganda purposes.

Regarding the explosives, firearms and ammunition found in a boat in the Nabih Saleh area, investigations revealed they were part of the schemes by the leaders and members of the terrorist organization to smuggle them from Iran and Iraq into Bahrain via the sea and to use them in their terrorist crimes.

Hamamdi added that the breakout from the Reform and Rehabilitation Centre in Jaw was planned in order to enable the terror convicts to escape and carry out attacks in Bahrain and, for some of them, to go abroad and join the organization leaders in Iran and Iraq.

The jail break, carried out with the assistance of four members of the organization from outside the prison, resulted in the escape of 10 convicts and the martyrdom of one policeman.

In the shooting of a policeman in the Bani Jamra area case, investigations revealed that the terrorist crime was committed by a number of the organization members who were not among the prison fugitives.

The attack was committed as part of the organization’s activities under the instructions of its leaders abroad to disrupt public order and to target policemen.

Hammadi stressed that the murder of a police officer in the Bilad al-Qadeem area was plotted by one of the organization’s leaders in Iran and a member in Bahrain.

The murderer who knew the personal and professional status of the victim monitored his movements before killing him with a machine gun supplied by the organization’s leaders.

Regarding the case of resisting the authorities and shooting police officers in Bahrain’s territorial waters, Hammadi said that it was in the context of an attempt to smuggle ten accused members of the organization abroad.

The individuals being smuggled out included a convicted fugitive from the Jaw prison, three who participated in carrying out the jailbreak and the organization member who killed the police officer.

The police warned the suspects who responded by opening fire on them. Yet, the policemen were forced to exchange fire with the suspects, killing three of them and wounding others.

The defendants indicated to the investigators the locations where they hid the explosives and firearms that had been supplied by the organization’s leaders abroad for use in terrorist crimes.

The Public Prosecution subsequently issued warrants to seize all the items discovered in the hideouts, including the firearm which had been taken from a police officer during the escape from the Jaw prison.

The investigations resulted in the seizure of large quantities of explosives, detonators, grenades, firearms, automatic machine guns, guns, and ammunition of 7 guns, 4 Kalashnikovs, 292 bullets, 19 explosive devices, 11 ammunition cartridge holders, 96 detonators and a drone. Cars and boats used in terrorist crimes and smuggling operations were also seized.

The investigations carried out by the Criminal Investigation Department also revealed that one of the organization leaders, currently in Iran, continued his criminal and terrorist activities and plots against Bahrain.

He assisted many terrorist fugitives in Iran and Iraq with forming, in previous years, groups and cells in Bahrain that were eventually busted.

He was also involved in alliances with terrorist elements and fugitives belonging to various terrorist groups in Iran and Iraq to set up a terrorist group in Bahrain. The terrorist had been sentenced in several cases.

Hamadi said that the Public Prosecution has completed the questioning of 25 defendants who were involved in the operations, contributed to them or sheltered fugitives.

Other fugitives who were mentioned in the investigations or in the confessions of the defendants are still at large.

Public Prosecution levelled 16 charges against the defendants, including joining a terrorist group, training in the use of explosives and firearms to commit terrorist crimes, killing two police officers, attempting to kill police officers, and importing, smuggling and possessing explosives and weapons that may not be licensed in any way with the intention of using them in activities to disrupt public peace and order.

They were also charged with causing damages, robbery, resisting law-enforcement authorities, escaping from prison following legal arrest, and helping terrorists escape and sheltering them.

Only four of the defendants denied the charges while the others admitted them, Hamadi said.

The investigations by the Public Prosecution included a re-enactment of the crimes at the scenes and testimonies from several witnesses.

Public Prosecution remanded the defendants in custody pending further investigations and referred them to the forensic doctors for the necessary medical examination. It also referred the seized items to technical experts for reports.

Public Prosecution is also in the process of gathering testimonies from other witnesses and questioning suspects mentioned in the confessions of the defendants. The boats and cars used in the incidents were confiscated.

The investigations by the Public Prosecution are going on throughout the day in order to finish all details and prepare the case documents, Hamadi said.

Iran has not yet responded to the chief prosecutor’s claims, according to Associated Press news agency.