Geographically, Ukraine straddles Eastern and Western Europe, but the President Viktor Yanukovych is finding it increasingly difficult to balance the country’s interests.
Yanukovych came into power touting his close relations with Moscow and he maintains when it comes to energy supplies they are essential for Ukraine and Europe as well. FULL POST
Iran's six month agreement with P5 + 1, Egypt's transition after the ouster of Mohammed Morsy and Syria's long and catastrophic civil war have nudged a plan to revitalize the Palestinian Territories right off the global agenda.
I was in the room when U.S. Secretary of State John Kerry unveiled, on the evening of May 26, what he saw as an ambitious plan to deliver hope to Palestinians by jump-starting investment. His speech closing out the World Economic Forum regional meeting at the Dead Sea in Jordan was met with a heavy dose of skepticism because it lacked specifics.
Kerry presented an economic road-map, calling for $4 billion of private investment covering eight sectors from agriculture to tourism. If you build the right framework, according to the top U.S. diplomat, investors will come. The goal is to boost the economies of the West Bank and Gaza by up to 50% in just three years.
While no one can really argue with the spirit of the economic initiative, the reality on the factory floor, whether it is light manufacturing or in telecommunications, is very different. Palestinian businessmen suggest it is time to be more holistic in the approach. One cannot divorce the peace process from business. FULL POST
(CNN) - The historic six-month agreement over Tehran's nuclear program may begin a new era of relations with Iran, but it will be a long road back for the country's most vital sector, oil.
Iran produces about two and half million barrels a day - far off its 4-million-barrel-per-day peak a decade ago. Output is hovering at a level last seen at the end of Iran's war with Iraq. With North Sea Brent crude averaging over $100 a barrel for a record three years running, the sanctions on energy alone are costing Tehran about $50 billion in lost annual revenue.
"During the six month phase, the oil sanctions that will remain in place will continue to cause over $25 billion in lost revenues to Iran or over $4 billion a month," he said.
With every year that has passed, the screws have been tightened by Washington and the countries of the European Union. It was not only sanctions against oil, but also blocking Iran's ability to secure shipping insurance and to trade in U.S. dollars and euros. That economic isolation, many Middle East strategists I have spoken with suggest, is what brought Iran's new government to the negotiating table.
Despite the deal breakthrough, U.S. Secretary of State John Kerry said most of the sanctions will stick as the world gauges the intentions of this relatively new administration in Tehran.
The message is clear: the pressure remains, but if all goes well, in a half year's time Iran can expect more in return for transparency.
It is still early days, but this country of nearly 80 million people has been described as potentially being the Germany of the Middle East with plenty of natural resources - that is, if it can emerge from years of economic isolation.
CNN's John Defterios looks at an innovative scientific research program seeking to unlock the energy potential of algae as potential replacement for fossil fuels.
Algae requires a lot of fresh water for cultivation. Dr. Hector Hernandez told CNN: "It's only been very recently that we've realized that the desert is teeming with life... as we've explored more that all these exciting things have started to show themselves."
The development of the private education business in emerging markets as education enterpreises challenge traditional schooling worldwide.
Bruce Upbin discusses the most innovative companies in the world and the culture needed to foster such innovation.
CNN's Mallika Kapur shows us one doctor's solution to treating his diabetic patients living in remote areas of India.
South Korean carmarker Hyundai has spent has spent billions of dollars developing hydrogen cell technology in an effort to introduce an auto that runs on gas.
(CNN) – In the Middle East, the demand for apps is high - and growing.
CNN's Leone Lakhani explores how reliant people in the region are becoming on mobile applications, and what it can mean for day to day life.
(CNN) – A hospital in Chile is trying to reduce the threat of infections by using equipment, including bed rails and washbasins, made of copper.
A study into effectiveness of copper to kill bacteria is taking place at the Roberto del Rio children’s hospital in Santiago de Chile, and scientists say that the initial results are positive.
Dr Marisol Navarette, in charge of the clinical trials, says: ”The ions of copper interact with the membrane of the bacteria, their metabolism gets disturbed and they are killed by copper.”
The project is spearheaded by Codelco, Chile’s state-run mining company and the biggest copper producer in the world, in partnership with foreign investment.
Chilean company Copper BioHealth already manufactures hospital products made out of the metal, and after the Environmental Protection agency in the U.S. registered copper as an anti-microbial agent, it will have the option to market their products internationally.
About Global Exchange
Global Exchange explores how emerging markets are impacting and influencing the global financial community, at a time when business is a vital driver of the international news agenda.
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