Economy

Coast Guard interdicts lancha crew illegally fishing in U.S.

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Coast Guard law enforcement crews detected and interdicted a Mexican lancha boat crew engaged in illegal fishing in federal waters off southern Texas, Saturday. KRISTV.com The lancha, with fishing gear onboard, was seized.  Four Mexican fishermen were detained and transferred to border enforcement agents for processing. “The persistent illegal fishing of red snapper and other fish in the Gulf of Mexico is having a very detrimental economic and environmental impact,” said Cmdr. Keith Pierre, chief of response at Sector/Air Station ... Read More »

China reacts to India-Japan cooperation in northeast, says no room for ‘third party’

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The India-Japan joint statement had referred to cooperation between the two sides to develop India’s northeastern states as a “concrete symbol of developing synergies” Sutirtho Patranobis Hindustan Times China on Friday warned third parties against meddling in its boundary dispute with India, specifically mentioning the Arunachal Pradesh sector in an apparent response to Indo-Japanese plans to invest in infrastructure projects in the northeastern… A joint statement issued on Thursday following talks between Prime Minister Narendra Modi and his Japanese counterpart ... Read More »

Fugro to open Houston Hydrography Center

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Fugro has announced plans to establish a Hydrography Centre of Excellence for the Americas, supporting its strategic focus on growth in this market sector OE  Utilizing specialist resources that include autonomous vessels and aircraft, integrated data acquisition techniques, remote processing and large data transfer, the focus is on reducing risk, increasing accuracy and streamlining project timelines for… The Houston-based center will handle a wide range of hydrographic project types, including nautical charting, cable routing and Law of the Sea boundary… ... Read More »

Building the Alaska ‘Blue Economy’

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Alaska’s blue economy leadership potential is tremendous; we maintain over half the nation’s coastline and a third of the U.S. exclusive economic zone with access to vast natural resources S. Bradley Moran Joel Cladouhos  Alaska Journal  The blue economy vision is that by 2040 Alaska would grow by 50,000 jobs and $3 billion in wages, approximately equal to the oil and gas industry today. Alaska’s blue economy includes existing traditional sectors such as fisheries, coastal tourism and oil and gas, ... Read More »

Greece completes sale of railway operator to Italy’s Ferrovie

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ATHENS, Sept 14 (Reuters) – Greece concluded on Thursday the sale of railway operator TRAINOSE to Italy’s Ferrovie dello Stato and expects hundreds of millions of euros to be invested in the country’s ageing rail infrastructure in the coming years. Reuters Staff Under its current bailout, its third since 2010, Greece was expected to sell TRAINOSE and other state assets to raise 6 billion euros ($6.2) by 2018. Greece will fetch 45 million euros from this sale and expects a ... Read More »

India to invest $17bn on Japanese bullet trains

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Japanese premier Shinzo Abe hails new ‘strategic and global partnership in the Indian-Pacific region’. Al Jazeera India will invest $17bn to build its first high-speed train system, having reached a deal with Japan to help finance the project. Source: News agencies The network, which will run 508km between Mumbai and Ahmedabad, was announced on Thursday by Prime Minister Narendra Modi. “This is the new India, and the flight of its dreams is endless,” he said. “The bullet train project will bring ... Read More »

Hebrew U tech chief seeks balance between academia and industry

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Yaron Daniely, the new head of Hebrew University’s tech transfer unit, wants technology created in the academic world to get a fair chance to market Shoshanna Solomon The Times of Israel Yaron Daniely, the Hebrew University’s newest pick to spearhead the commercialization of technologies developed within its ivory towers, is taking the reins at a delicate time. Israeli academia has come under public scrutiny for missing out on royalties on technologies developed by their researchers: earlier this month, the Israeli ... Read More »

A lesson from Hurricane Irma: capitalism can’t save the planet – it can only destroy it

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The perpetual quest for growth drives our economics. That’s why our environment and financial system lurch from crisis to crisis. George Monbiot The Guardian There was “a flaw” in the theory: this is the famous admission by Alan Greenspan, the former chair of the Federal Reserve, to a congressional inquiry into the 2008 financial crisis. His belief that the self-interest of the lending institutions would lead automatically to the correction of financial markets had proved wrong. Now, in the midst ... Read More »

Six charts that show how much the world has changed since the 2007-08 financial crisis

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Ten years ago, fretting depositors formed lengthy queues in front of Northern Rock bank branches across the UK after news broke that it needed support from the Bank of England. Six charts that show how much the world has changed since the 2007-08 financial crisis Alex Mandilaras  The country’s fifth-largest mortgage lender, it was in real danger of running out of cash. The Conversation People were anxious to withdraw their money. They all managed to do so. But not without ... Read More »

Norway’s sovereign wealth fund hits $1 trillion valuation for first time ever

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Norway’s sovereign wealth fund owns about 1.3 per cent of all listed stocks globally and about 2.3 per cent of all stocks listed in Europe Josie Cox The Independent  The value of Norway’s sovereign wealth fund, which is the world’s largest, has hit the equivalent of $1 trillion for the first time in history. Experts on Tuesday said that the value of the fund had been bolstered by rising global stocks and a strong performance of the euro. Major stock ... Read More »

ASEAN, Hong Kong wind up FTA negotiations

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Hanoi (VNA) – The Association of Southeast Asian Nations (ASEAN) and China’s Hong Kong on September 9 announced the conclusion of their negotiations on a Free Trade Agreement (FTA) and a related Investment Agreement. The announcement was made at the second ASEAN Economic Ministers-Hong Kong, China Consultations (AEM-HKC) in Pasay city, the Philippines. Hong Kong’s Secretary for Commerce and Economic Development Edward Yau said that the two agreements will be signed in November this year. The agreements are comprehensive in ... Read More »

Master plan to protect sea

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HÀ NỘI — A master plan on the use of Việt Nam’s sea is being built by the Ministry of Natural Resources and Environment, a necessary move according to experts. Viet Nam News The plan will map out sea-based socio-economic activities until 2035 in line with integrated management of sea and island resources and environment. It focuses on marine environment and resources, the value of marine ecosystems and appropriate exploitation of the sea. The plan is being built in accordance ... Read More »

Oil Barrels Aren’t Real Anymore

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Once a cask that held crude, the oil barrel is now mostly an economic concept An Object Lesson. Brian Jacobson The Atlantic   The U.S. oil industry pumps more than 3 billion barrels of crude per year.Oil crosses continents in pipelines like the Keystone, which moves 1.3 million barrels per day. It travels between them on tanker ships, the largest of which can carry 3.7 million barrels. When oil leaks, the disaster is quantified in barrels spilled—more than 250,000 from ... Read More »

Trump Admin Quietly Pushing ‘Small Scale’ LNG Exports That Avoid Environmental Reviews

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The Trump administration proposed regulations to expedite the permitting process for natural gas exports from “small-scale” facilities on the Friday before Labor Day. Steve Horn – Joshua Frank CounterPunch The U.S. Department of Energy (DOE) had proposed an alteration of the rules for the export of “small-scale” liquefied natural gas (LNG) under the Natural Gas Act. The proposal will now be open to a public commenting period set to end October 16. “The Trump Administration is focused on finding ways to unleash American energy and providing ... Read More »

Vietnam, Serbia agree to build concrete cooperation framework

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Hanoi (VNA) – Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh and his Serbian counterpart, Ivica Dacic, have agreed to build a specific cooperation framework in order to boost bilateral collaboration in all fields, especially in economy, trade and investment. During their talks in Hanoi on September 8, the two officials also emphasised the need to increase political consultations and coordination between the foreign ministries of Vietnam and Serbia. More favourable conditions should be created to facilitate the ... Read More »

The Copenhagen breakthrough in the Timor Sea

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There has been an agreed breakthrough in the long running dispute between Australia and Timor Leste in relation to maritime boundary demarcation and control of the resources in the disputed area in the Timor Sea. Frank Brennan Eureka Street The breakthrough came on 30 August, the 18th anniversary of the bloody referendum at which the Timorese voted for their independence from Indonesia. The terms of the deal remain confidential. But the Permanent Court of Arbitration which is overseeing the Conciliation ... Read More »