Russian flagged fishing vessel Oleg Naydenov was found by a remotely operated vehicle 15 miles south of Gran Canaria, at a depth of 2,700 meters, Minister of Development Ana Pastor Julian informed. At first, it had been reported that the ship, which sank last week, could be at about 2,400 meters deep.
Panama Canal officials offered Tuesday to share the burden in a 283 million dollars fund to end a spat with a consortium threatening to halt the waterway's expansion over huge cost overruns. The proposal came after two days of intense talks under mediation of a Spanish cabinet minister who flew to Panama City for emergency meetings aimed at preventing a shutdown of the major project.
Spain stepped in on Friday to try to resolve a cost dispute over the expansion of Panama's canal, which has triggered a sell-off in the shares of Sacyr SA, the Spanish builder leading the project. Spain's Public Works minister, Ana Pastor, and Sacyr Chairman Manuel Manrique are due to travel to Panama on the weekend, Panama's president, Ricardo Martinelli, said.