Thursday, August 7th 2014 - 07:54 UTC

Egypt plans to build a new parallel Suez Canal to be completed in five years

The new channel also includes expansion of the Suez port shipping facilities, aims to raise Egypt's international profile and establish it as a major trade hub.

Egypt plans to build a new Suez Canal alongside the existing 145-year-old historic waterway in a multi-billion dollar project aimed at expanding trade along the fastest shipping route between Europe and Asia.

Thursday, August 7th 2014 - 07:41 UTC

Putin retaliates US/EU sanctions: plans to redirect food purchases from Latam

Russians are by far the biggest buyers of EU fruit and vegetables, having bought 21.5% of EU vegetable exports and 28% of the bloc's fruit exports in 2011

Russia will ban all imports of US food products as well as fruit and vegetables from the European Union after President Vladimir Putin ordered retaliation for Western sanctions against Moscow, a state news agency reported today.

Thursday, August 7th 2014 - 07:22 UTC

Global system used for sovereign-debt workouts remains badly in need of repair

 This is not the first time that an Argentine default has upended international capital markets; it would be its fourth, according to Rogoff.

By Kenneth Rogoff (*) - Argentina’s latest default poses unsettling questions for policymakers. True, the country’s periodic debt crises are often the result of self-destructive macroeconomic policies. But, this time, the default has been triggered by a significant shift in the international sovereign-debt regime

Thursday, August 7th 2014 - 06:32 UTC

Mercosur trade deal is a priority for the EU under Italian presidency

Ms Mogherini said it was essential for Europe to have closer trade and political links with other regions of the world.

Foreign minister Federica Mogherini pledged that under the current Italian presidency of the European Union, top priority will be given to signing the pending trade agreements, among which that with Mercosur still under discussion.

Thursday, August 7th 2014 - 06:01 UTC

“Malvinas dialogue” demands Argentine Patagonia governor in Wales

Governor Buzzi next to PM Carwyn Jones  and guests during the opening of the Chubut stand

Underlining the close links between Wales and Argentine Patagonia, where many Welsh immigrants settled for the first time 150 years ago, Chubut governor Martin Buzzi called on the British government “to open a dialogue on the Malvinas Islands”.

Wednesday, August 6th 2014 - 08:54 UTC

US and India clash over food security clause at WTO and suspends TFA protocol

“The fact we do not have a conclusion means that we are entering a new phase in our work, a phase which strikes me as being full of uncertainties,” Azevedo

The failure of the two major players in global trade negotiations to bridge their differences has put paid to the adoption of the protocol of amendment for implementation of the contested Trade Facilitation Agreement (TFA) for the time being.

Wednesday, August 6th 2014 - 08:18 UTC

Israel disturbed with Mujica's use of 'genocide' to describe the situation in Gaza

“I believe the Uruguayan government is not correctly informed about events or has a different point of view on the issue”, said ambassador Nina Ben-Ami

Israel is disappointed and concerned with Uruguayan president Jose Mujica statement that described the Israeli offensive in Gaza as’genocide’, pointed out Jerusalem's new ambassador to Montevideo, Nina Ben-Ami. “These are not words to be used by a friend; we're friendly countries going through a difficult moment”.

Wednesday, August 6th 2014 - 07:46 UTC

Briton involved in World Cup tickets scam released from jail but must remain in Rio

Whelan has been charged with fraudulently selling 1000 tickets per World Cup match, allegedly worth tens of millions of dollars

British World Cup ticketing executive who allegedly took part in a scam to sell millions of dollars worth of fraudulent tickets was ordered to be released from prison Tuesday while awaiting trial in Brazil.

Wednesday, August 6th 2014 - 00:20 UTC

Hanover TUI line orders new vessels as Germany is set to become Europe's main cruise market

CEO Joussen said TUI will expand in hotels and cruise ships, and is merging with TUI Travel Plc (TT/), Europe’s largest tour operator

Germany's TUI Cruises, a joint venture of TUI AG and Royal Caribbean Cruises Ltd. are planning to spend as much as 2 billion Euros for four new vessels to meet increased European demand for cruise holidays. TUI Cruises expects Germany to overtake the UK as Europe's largest cruise market.

Wednesday, August 6th 2014 - 00:04 UTC

UK only Muslim minister resigns protesting 'morally indefensible' policy in Gaza

Warsi, a baroness who sits in the upper house of parliament, in 2010 became Britain's first Muslim to serve in cabinet

Sayeeda Warsi, a senior minister in Britain's Foreign Office, resigned on Tuesday, accusing Prime Minister David Cameron's government of taking a “morally indefensible” approach to the conflict between Israel and Hamas.


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