China´s Civil Aviation Administration (CAAC) has announced it will spend $17.4 billion over the next five years on expansion of its airport infrastructure.
“By 2010, the mainland will have about 186 airports, up from 142 currently,” said CAAC vice minister Gao Hongfeng. “China´s commercial aircraft fleet will grow to 1,580 by 2010, up from 863 currently and by 2020, China will have 4,000 commercial aircraft.”
The government has selected Tavistock Group, an American private investment company - as the successful bidder for the development of the Harmony Cove project in Trelawny.
The company had already signed a Memorandum of Understanding (MOU) with the government-owned Harmonization Limited, which is being used by the administration to spearhead the project, estimated to cost $1.3 billion.
A free trade agreement with El Salvador will take effect March 1, the Bush administration announced Friday, leaving behind for the moment five other Latin American nations that are supposed to be part of the Central American Free Trade Agreement.
U.S. Trade Representative Rob Portman praised El Salvador for the strides it has made in revising laws and regulations necessary to meet the commitments it made in CAFTA.
Antigua and Barbuda has accused the U.S. of failing to comply with a World Trade Organization ruling that it discriminates unfairly against online gambling companies based in the tiny Caribbean island nation.
Last year the WTO dispute settlement body (DSB) ruled that while the US was entitled to restrict internet gambling, the rules were not being applied fairly. The case arose from complaints from internet gaming companies, several of which are based in Antigua, that US laws unfairly discriminated against foreign companies by prohibiting cross-border betting.
Hilton Group PLC officially became Ladbrokes PLC Thursday after finalizing the $6.1 billion sale of its hotels business to its U.S. namesake, leaving the British company with just its gaming division.
The company earlier said it would focus on expanding internationally, including possible entry into the United States online gaming market, as it released its final full-year combined profit results showing modest increases in net profit and revenue.
Mercosur and European Union representatives meeting in Buenos Aires last week agreed to relaunch bilateral negotiations for a cooperation and free trade treaty which has been bogged for months.
Spain´s Foreign Affairs minister Miguel Angel Moratinos currently on a Latin American visit to several countries said that in the meeting “we achieved the political thrust needed for the negotiation to advance, which becomes the most important ingredient when technical experts can´t reach an agreement”.