Business

Efforts being made for optimal exploitation of Exclusive Economic Zone: PM

ISLAMABAD : Prime Minister Shahid Khaqan Abbasi has said that greater efforts are being made for optimal exploitation of Pakistan’s Exclusive Economic Zone. Orignally published by NNI Addressing an International Maritime Symposium, under the auspices of Bahria University, in Islamabad on Monday with the theme of “Impact of Belt and Road Initiative on Geo-Economics of Indian Ocean Region”, the… He said its development is critical as almost 80% of the trade volume in the world is done by sea. He ... Read More »

Most successful entrepreneurs are older than you think

The romanticized image of entrepreneurs is a picture of youth: a 20-something individual with disruptive ideas, boundless energy and a still-sharp mind. Silicon Valley has bet on this image for years. But is this right? Authors: The Conversation Far from it, according to our recent research with Javier Miranda of the U.S. Census Bureau and Pierre Azoulay of MIT. Our team analyzed the age of all business founders in the U.S. in recent years. We found that the average age ... Read More »

As China leads the hunt for deep-sea minerals, environmental and financial concerns come to the surface

David Dodwell says China is putting money into undersea mining in the hope of maintaining the supply of minerals that make much of today’s technology possible, but such endeavours may threaten marine ecosystems we know little about. David Dodwell South China Morning Post Nasa may be scouring deep space for signs of life. Elon Musk might be looking to Mars. China’s scientists have had an eye cast skyward too – but, at the same time, the country seems keenly focused on challenges much ... Read More »

Portugal to Modernise Railway System and Increase Spanish Trade Via Upcoming Southern European Rail Line

This spring, Portugal, Spain and the EU Commissioner of Transport announced plans to construct a new freight line that will link southern Portugal with Spain, upgrading Portugal’s railways and providing long-term economic benefits to the… Katrina Pirner SouthEUSummit Portugal is working in tandem with the EU to build a railway that will bring more logistical ease to companies transporting products to the country’s nieghbour and biggest trading partner, Spain. This is one of many infrastructure projects that highlights how the ... Read More »

Socialising the losses and privatising the gains

The case of Cyprus five years after the bail-in of bank deposits As pointed out in a recent IMF report,[1] “private sector indebtedness in Cyprus remains extremely high”. Savvas Savvides StockWatch Politicians and banks, however, continue to present the non-performing loans (NPLs) as being the core problem of the economy. They argue that reducing NPLs is basically the same as providing a cure to the economy’s woes. However, NPLs is only a symptom of the real problem of the economy which, ... Read More »

EU says protectionism poses threat to economic growth

BRUSSELS, May 3 (Xinhua) — The European Commission said on Thursday that the eurozone growth was still set to remain strong, but warned an escalation of trade protectionism poses threat to global economic growth. According to the Spring 2018 Economic Forecast, the growth rates for the European Union (EU) and the euro area beat expectations in 2017 to reach a ten-year high at 2.4 percent. Growth in both the EU and the eurozone is set to remain strong in 2018 ... Read More »

Balkans: The troubled IGB pipeline in flesh and blood

Approximately 145 million euros is expected to be available shortly by the ICGB consortium managing the Gas Interconnector Greece-Bulgaria gas pipeline on the occasion of the call for tender for the design and construction of the project. By Nefeli Tzanetakou / ibna This tender foresees the completion of the gas pipeline within 18 months. The launch is planned for the end of this year. The selection of a sponsor or consortium will take place in two phases, a pre-selection, where ... Read More »

Chinese dissident: Trump, don’t trade away democratic values

As U.S. representatives visit China this week to talk about trade negotiations, President Donald Trump and his administration have an opportunity to take advantage of a pivotal moment. Chen Guangcheng The Washington Post Trump should pressure the Chinese regime to make real, substantive change regarding the rule of law and human rights, both to form the basis of a fair and stable trade relationship going forward and to reassert America’s embrace of… In 2001, the United States granted China a legal status ... Read More »

Eastern Mediterranean: International Arbitration for ‘Venus’

Cyprus and Israel are expected to resume international arbitration in order to put an end to their seven-year dispute over the exploitation rights of the “Aphrodite” (“Venus”) field. By Nefeli Tzanetakou / ibna On May 8, a two-sided meeting in Nicosia is scheduled to take place, with the participation of Greece, where, among other things, the implementation plan for the East Med pipeline, which is expected to transport the… In 2010, Cyprus and Israel co-signed the demarcation agreement relevant to the ... Read More »

Moscow’s Maritime threats to Ukraine and the West

Since invading Ukraine in 2014, Moscow has become significantly bolder. Russia has expanded into Ukraine’s Exclusive Economic Zone (EEZ), the body of water up to 200 miles from the country’s coast that is internationally recognized as its legal territory. Stephen Blank 112 international Russia’s recent naval activity around Ukraine and the Baltic Sea is more than simply a threat to countries in the region. In fact, it represents a challenge to the international order, one that could be replicated by ... Read More »

Boeing buys aviation parts maker KLX for $4.25B

Boeing announced Tuesday that it reached an agreement to acquire aerospace parts distributor KLX for $4.25 billion as it boosts its aviation services business. Daily Sabah Boeing executives described the move as a significant step in bolstering its global services segment, which was launched last year and aims to increase annual revenues from $15 billion in 2017 to $50 billion in five years. “This acquisition is the next step in our services growth strategy, with a clear opportunity to profitably ... Read More »

Why France banned meat names for vegetarian alternatives

France recently passed an amendment to its Agriculture Bill. It prohibits any product that is largely based on non-animal ingredients from being labelled like a traditional animal product. Malte B. Rödl The Conversation This essentially bans product names such as “vegetable steak”, “soy sausage”, or “bacon-flavoured strips”. The argument is that consumers might be misled into believing the products were real meat. Commentators have pointed out how bizarre this claim is, given that these products can easily be distinguished from ... Read More »

Eastern Mediterranean States Seek Framework to Sell Gas to Europe by Year-End

Undersea pipeline would be the longest and deepest in world Sides negotiating ‘very seriously’ on project: Israel official Israel is trying to finalize working agreements with European governments interested in buying natural gas from the eastern Mediterranean region by the end of the year, according to the country’s energy minister. By Yaacov Benmeleh and David Wainer Bloomberg Greece, Cyprus, Italy and Israel are pushing a 6 billion euro ($7.3 billion) project to build a pipeline that would expand the export markets for gas ... Read More »

Turkey awards multibillion-dollar contract for indigenous Altay tank

ANKARA, Turkey — BMC, a privately owned Turkish-Qatari armored vehicles manufacturer, has won a multibillion-dollar contract for the serial production of the Altay, Turkey’s first indigenous, new-generation main battle tank in the making. By: Burak Ege Bekdil DefenseNews A top procurement official confirmed the decision. “We will start contract negotiations with this group, as it emerged as the best bidder,” the official said. Turkey’s defense procurement agency, the Undersecretariat for Defense Industies, or SSM, has been reviewing bids from three ... Read More »

How a proposed Russian pipeline to Europe is dividing the West

MUKRAN, Germany — The steel-and-concrete pipes measure 36 feet long, weigh 24 tons and, if a Russian-led consortium has its way, will stretch for nearly 800 miles along the bottom of the… by Griff Witte and Luisa Beck The Washington Post Being churned out by the thousands at a waterside factory on this German island, the pipes offer evidence that Moscow will soon have a vital new means to sell its gas to continental Europe. But what the $12 billion pipeline ... Read More »

China’s consumer demand trumps political friction, says Alibaba boss

The chief executive of Alibaba Group, the Chinese retail goliath often described as Asia’s Amazon, says rising political tension between China and Australia has not damaged business or trade relations. Patrick Hatch The Age Daniel Zhang instead insists that demand from middle-class Chinese consumers is too great to be disrupted by geopolitical friction, and sees “tremendous” growth ahead for Australia exporters to the region. Some business leaders, including Andrew “Twiggy” Forrest, have criticised domestic debate about Chinese Communist Party influence on Australian politics and China’s ... Read More »