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.
A controversy surfaced recently after the Public Account Committee (PAC) released a report accusing senior government officials of having fraudulently authorized payment of at least $122 million of public funds to a private company
Venezuelan Foreign Minister Rafael Ramirez left the meeting visibly angry and declined to comment on the outcome.
A number of potential deals under discussion in recent months could benefit from concessional financing from Tokyo.
The WTO has lurched from one disappointment to another over the past decade as it tries to find a balanced trade deal that all its members, now numbering 160, could support.
Saudi Oil Minister Ali al-Naimi said he expected the oil market "to stabilise itself eventually" but did not comment on talks with Russia held on Tuesday
Ergun Olgun, the Turkish Cypriot negotiator, said their own exploration would continue and even accelerate if Greek Cypriots pressed ahead with their plans to allow multinationals to exploit the area.
The decision to devalue the naira, according to analysts and central bank figures, appears aimed at saving the country's dwindling foreign reserves
Oil market watchers are divided on the outcome of OPEC's meeting in the Austrian capital. Predictions range from a large production cut to revive prices, to a small reduction, or none at all
The proliferation of smugglers' routes into Bolivia shows how difficult it is to eradicate illegal mining without better coordination across frontiers.
Falling crude prices are fueled by slowing global growth and increased supply.
Ukraine's leading banks said most of their loans to Crimean individuals and businesses were now delinquent.
Deputy Energy Minister Jaime Himende said that "Mozambique has great hydroelectricity potential, and recently they have taken some bold steps to use renewable resources efficiently"
Obama, who hosted Modi in Washington in September, will in January become the first U.S. president to visit India twice, completing a remarkable warming in the relationship
The combined damage inflicted on Russia's economy by Western sanctions and falling oil prices totals about $140 billion.
PM Mahlab said that Egypt eyes sustainable growth to improve the living conditions of Egyptians, noting that the Egyptian economy is currently recovering.
The French economist calls for redistribution of global wealth, which he says is too concentrated in the hands of the few.