World Bulletin / News Desk
An explosion on Sunday rocked the Egyptian pipeline built to carry natural gas to Israel and Jordan, the 15th time it has been attacked since the start of the uprising in early 2011 that toppled President Hosni Mubarak.
The blast occurred in the early hours of Sunday morning at al-Tuwail, east of the coastal Sinai town of al-Arish, at a point before the pipeline splits into separate branches to Israel and Jordan, security officials and witnesses said.
Gunmen in a small truck drove up to the pipeline, dug a hole and placed explosive charges under the pipeline that they detonated from a distance, a security official and witnesses said.
A large boom echoed across the area and residents up to 30 km (18 miles) away said later they could see flames of burning gas lighting the sky.
An official in the company that manages the pipeline said exports of gas to both Israel and Jordan had been halted since an explosion that hit the pipeline in April and that the flames were caused by residual gas.
Residents in al-Arish, however, said gas shipments had begun three days ago through the pipeline, which at one point supplied Israel with about 40 percent of its natural gas.
Egypt in April terminated its agreement to supply gas to Israel because of what it said was a business dispute.
The 20-year gas deal, signed in the Mubarak era, was unpopular with many Egyptians, with critics accusing Israel of not paying enough for the fuel.
Azerbaijani president said in a statement that Southern Gas Corridor project will supply neighboring and European countries for a 100 years
Oil prices rose above $60 due to Iran's call for oil production cut
Economic growth in the Euro-Zone is not at desired levels.
Director and Global Head of Islamic Finance at Standard & Poor's says that growing market for sukuk and new players mark 'significant interest' in Islamic finance.
The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the AIIB.
Experts state that the crisis poses risks to the region, which is significant for oil production and exports in the world.
Federal Reserve removes word 'patient;' interest rate increase expected within months. Yellen says timing of rate rise 'not decided,' but will come anytime after April; holds current rates at 0 to 0.25 pct.
Many emerging-market currencies have fallen against the dollar in recent weeks
Anticipated Federal Reserve interest rate hikes making dollar strong against most emerging market currencies, Deputy Prime Minister Ali Babacan says.
European Statistical Agency says slight decline fuelled by drop in production of durable consumer goods.
EU will use all its foreign policy instruments to establish strategic energy partnerships with producing and transit countries.
Dollar strength and waning investor confidence are driving the lira lower
Greece has already received two bailouts totalling 240 billion euros but fellow euro zone member Ireland said last week that it would have to negotiate a third programme.
The Ukraine crisis has tested the loyalties of Bulgaria, a Balkan country with historical ties to Moscow and heavily dependent on Russian energy supplies.
Syria expels three United Nations aid workers hindering aid development in the country
Russia has overcome a "psychological barrier" and is ready to deepen its economic ties with China, Deputy Prime MinisterArkady Dvorkovich said