Builders Threaten to Halt Panama Canal Expansion – European builders have threatened to abandon the Panama Canal Expansion project if the Panama Canal Authority does not agree to pay $1.63 billion in cost overruns, about 50% over the original $3.1 billion contract. The company sent a letter to the Authority on December 31st announcing a work suspension if their demands are not met within 21 days.
Read more from gCaptain.
Brazil to Fund Deep-Water Port in Uruguay – Brazil is making plans to fund 80 percent of a new deep-water port in Rocha, Uruguay. Construction on the $500 million project will begin in about a year. Uruguay needs another deep-water port because its current ports have already been handling record loads.
Read more from Miami Herald.
South Korea Discusses FTA with China – Next week South Korea and China will hold a new round of talks for a bilateral free trade agreement (FTA). The new round of talks will continue to focus on the level of removal or reduction of restrictions on the exchange of goods between nations.
Read more from Xinhuanet.
