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panama canal

World economy 6th February 2014

Game on Sacyr-Panama Canal’s dispute is over… is it?

MADRID | By Julia Pastor | The delicate pulse between the consortium led by Spanish construction company Sacyr and the Panama Canal Authority has become so stressful – too many actors, several proposals coming back and forth, mutual finger-pointing, and a two-week-extension that broke into pieces on Wednesday. Or that’s what we thought. The consortium working on Panama Canal’s third set of locks says it will continue to search for a solution to finish the works by foreseen 2015, although the Panamanian administration has cut negotiations. Of course, they denied any responsibility on the breakdown. “Time is over, that is all. We will not accept any blackmail,” PCA’s president said. Is this really the end of discussions or is the game still on?

michelangelo creazione di adamo 640x260

World economy 5th February 2014

Italy Accuses Rating Agencies of Ignoring Its Patrimony- Should Spain, Greece Join In?

OP-ED By Ana Fuentes | Italy’s Corte dei Conti has opened an investigation against rating agencies for unjustified downgrading of the country in 2011 and 2012. S&P, Fitch and Moody’s face a potentially huge claim of €234bn for not considering Italy’s contribution to the world’s cultural patrimony. Will other countries follow Rome? Should the Parthenon or the Alhambra be taken into account when deciding Greece or Spain sovereign debt value?

Lenovo

World economy 5th February 2014

Is Lenovo a threat to US national security?

ASIA-PACIFIC COMMENTS by Ray Kwong | If China’s biggest PC maker gets the nod to buy Motorola’s handset unit and IBM’s low-end server business for a total of US$5.2 billion, it will become the world’s 800-pound gorilla of information tech. If it doesn’t, only CFIUS will know why.

No Picture

World economy 4th February 2014

Internet for the Public Interest Needs Protection

WASHINGTON | By Areeba Kamal via The Next New Deal | Unless the [U.S.] Federal Communications Commission takes a stand, American consumers stand to lose their open access to the Internet, while providers will rake in even greater profits.

Icelandic miracle

World economy 3rd February 2014

Iceland pre-and post-collapse capital controls and the on-going blame game on who is blocking their abolition

LONDON | By via Sigrún Davíðsdóttir’s Icelog | So far, there is no solution in sight in matters that need to be solved in order to abolish capital controls in Iceland. The government blames creditor of the estates of Glitnir and Kaupthing but unresolved dispute in Landsbanki matters as well though hardly ever mentioned. The government seems to play a waiting game, perhaps to make creditors more forthcoming. Ministers maintain the government cannot interfere in a process of private companies and yet they seem to be contemplating interfering via laws, which would directly expose the government to being sued by creditors. The creditors mostly remain silent but might have more cards up their sleeves than the government seems to believe.

Slim

World economy 3rd February 2014

Mexican Mogul Carlos Slim Shadow Grows Over Europe

MEXICO CITY | By David Brunat | América Móvil, owned by the wealthiest person on earth, Carlos Slim, has set its eyes on the European telecommunications market. Indeed, it has been trying to approach Central and Eastern Europe for a year now, a move not exempt of sour experiences. But it is now when Slim obtains his first relevant victory – Austrian government said on Friday it is open to let América Móvil become the largest shareholder of Telekom Austria.