Chinese ship crew 'rescued' from Somali pirates

China says it has rescued the 25 crew members of a ship hijacked by Somali pirates in October.
No mention of ransom payment was made, despite reports that $4m (£2.5m) was delivered on Sunday.
The De Xin Hai bulk carrier is under Chinese naval escort after the rescue operation, the foreign ministry said.
The hijack was the first of a Chinese ship since China posted three warships to join the international anti-piracy force in the Gulf of Aden.

Somali sea gangs lure investors at pirate lair(Pirate Exchange)

In Somalia's main pirate lair of Haradheere, the sea gangs have set up a cooperative to fund their hijackings offshore, a sort of stock exchange meets criminal syndicate.

Heavily armed pirates from the lawless Horn of Africa nation have terrorized shipping lanes in the Indian Ocean and strategic Gulf of Aden, which links Europe to Asia through the Red Sea.

The gangs have made tens of millions of dollars from ransoms and a deployment by foreign navies in the area has only appeared to drive the attackers to hunt further from shore.

It is a lucrative business that has drawn financiers from the Somali diaspora and other nations -- and now the gangs in Haradheere have set up an exchange to manage their investments.

One wealthy former pirate named Mohammed took Reuters around the small facility and said it had proved to be an important way for the pirates to win support from the local community for their operations, despite the dangers involved.