World Bulletin / News Desk
Egypt's president will meet his Chinese counterpart in Beijing on Tuesday, seeking in his first state visit outside the Arab world to win badly needed investment and expand diplomatic ties.
Egypt has struggled to boost its economy and secure foreign investment since the uprising last year. It still receives $1.3 billion in annual aid from the United States a year, although most of that goes to the military.
Cairo and Beijing will sign agreements for seven major projects, including a power station, a desalination plant, industrial bakeries and Internet development, according to Egypt's assistant planning minister Nabil Abdel Hamid.
Egypt will also propose development of a high-speed train line between Cairo and Alexandria, Hamid told state daily Al-Ahram.
After his three-day trip Morsi will attend the Non-Aligned Movement Summit in Iran, becoming Egypt's first leader in 30 years to visit the nation.
He will go to Washington next month after attending the UN General Assembly in New York, and Chinese media have highlighted his decision to make Beijing his first official trip outside the Arab world.
Morsi will meet China's Premier Wen Jiabao, Vice President Xi Jinping and top legislator Wu Bangguo on Wednesday.
Bankers in Singapore say Russians looking for a new Cyprus have come to the wrong place.
The default could get much messier and take longer to clear up if creditors force an "acceleration" for early payment on their bonds.
The ban came a day after the European Union and United States imposed their first sanctions aimed at hitting broad sectors of the Russian economy
Russia called new U.S. sanctions "destructive and short-sighted"
While the default will obviously hurt the economy, it will not be as severe as in 2001, economists say
The Czechs, who supported the action, have been against sweeping sanctions, worried about trade relations with Russia
The trade program has been criticized for disproportionately benefiting certain industries and a handful of countries, including Nigeria, South Africa and Angola.
The United Kalavrvta tanker, carrying some 1 million barrels of crude worth about $100 million, arrived off the coast of Texas on Saturday but has yet to unload its disputed cargo.
The uncertainty comes at a bad time for the 18 countries in the euro zone, whose economy is already in the doldrums.
"Kalashnikov regrets that consumers are faced with such a problem," said spokeswoman Yekaterina Boni.
Cairo and Khartoum had earlier accepted a proposal by Addis Ababa to hold the talks in Sudan in the third week of August.
Discounting the bulk of Japan's 48 reactors due to their long-term outage, the report said the number of operating units in the world has fallen to 388, 50 less than the peak in 2002.
Over 200,000 NUMSA-affiliated metalworkers declared a nationwide strike on July 1 to demand a 15-percent pay raise for laborers and a ban on labor brokers
The council said in a statement that any trade in oil ISIL or Nusra Front, would violate United Nations sanctions as both groups have been blacklisted.
The project is being implemented in collaboration with the Ethiopian and Norwegian governments at a cost of over $2.8 million.
Kerry will be heading the U.S. team at the annual Strategic Dialogue with India on Thursday, and will be accompanied by U.S. Commerce Secretary Penny Pritzker.