Saudi Arabia plans to complete its $100 billion King Abdullah Economic City by 2035, the CEO of the company in charge of the project told AP. Developers hope the city will become the main logistics and manufacturing hub for countries on the Red Sea.
Jilin Province in China has offered to build a railway to Vladivostok for Russia’s Far East Region of Primorsky Krai. It would be the first cross-border high-speed rail link between the two countries and Russia’s major Pacific port.
Global solar panel production is expected to grow by almost a third this year which would be industry’s the best performance since 2011. China will take the lead, producing more than 75 percent of the world’s panels.
Kiev authorities have approved a major new program to isolate the country from Russia by constructing an enormous barrier, equipped with anti-tank ditches and remote controlled weapons stations. They intend to spend $200 million on the grand plan.
China Railway Group Ltd has won a $390 million contract to develop the Moscow-Kazan high-speed railway which is to be further extended to China. The railway will become part of the new Silk Road project.
The Heilongjiang branch of the Export-Import Bank of China has allocated over $96.5 million to construct the Chinese section of the Sino-Russian railway bridge. The first railway bridge over the Amur River should cut transportation times and boost trade.
Israel has approved the construction of 900 settler homes in East Jerusalem, peace activists have said. It comes less than a day after newly-reelected Prime Minister Benjamin Netanyahu announced the formation of a right-wing coalition government.
For more than one in four renters in the US, housing and utility costs take up at least half of their family's income, according to a new analysis of Census data. That number is up 26 percent since the beginning of the Great Recession in 2007.
Experts had been warning for years that a serious earthquake would decimate Nepal’s overpopulated capital. Specialists had been trying to work out a contingency plan for Kathmandu, in the event of an inevitable tremor however, they were not fast enough.