Maldives wins airport dispute with India’s GMR

SINGAPORE/MALE (Reuters) The Maldives has won a court case allowing it to cancel a $511 million airport development contract with India GMR Infrastructure, clearing the way for it to take over its main airport.

An aerial picture of the airport in Maldives January 10, 2005. REUTERS/Anuruddha Lokuhapuarachchi

The canada goose factory sale contract for Ibrahim Nasir International Airport, agreed canada goose uk shop in 2010, was the largest foreign investment in the south Asian tropical island chain famous for Canada Goose Online its luxury beach resorts popular with honeymooners and scuba divers.

But it buy canada goose jacket cheap has become embroiled in a bitter political argument, threatening to cloud foreign investor sentiment canada goose clearance sale towards a country seeking overseas cash for many of canada goose black friday sale its tourism projects.

Maldives government has the power buy canada goose jacket to do what women’s canada goose outlet canada goose uk black friday it wants, including Canada Goose sale expropriating the airport, Sundaresh Menon, the cheap Canada Goose Chief Justice of Singapore, said in court uk canada goose outlet on Thursday.

His ruling came after GMR won a canada goose coats brief Canada Goose Coats On Sale reprieve on Monday when a court order suspended the government decision to cancel the contract, although the Maldives still pressed ahead with plans to take over canada goose store the airport.

A spokesman for the Maldives president canadian goose jacket said the government would call for international tenders in about 18 months to continue with the airport modernisation.

Shares in GMR Infrastructure were down as much as 4.2 percent following the ruling after earlier being in positive territory on canada goose the day. They later pared some of those losses.

Andrew Harrison, chief executive officer of the airport project, said it was too canada goose coats on sale soon to discuss the practicalities of a handover.

always been advocates of following the law. We are waiting to review the full judgment, which is currently being written up. It is too early to comment officially. We canada goose clearance will have a staff briefing tomorrow afternoon, he told Reuters.

GMR employs 1,800 people at the airport, 95 percent of whom are locals.

will take over. We will enrol all cheap canada goose uk those people from GMR who wish to join. Those who don can go home. By Friday midnight we will take over, Imad Masood, the canada goose uk outlet Maldives president media spokesman, told Reuters, adding that the uk canada canadagooseoutlet4online goose Maldives would pay compensation to GMR.

The two sides have not yet agreed on terms of compensation.

will go for international tenders maybe in one and half years from now. But they will be very transparent, he added.

The Maldives, south west of India, terminated an agreement with GMR last week, rattling its relations with its neighbour.

is the biggest Indian investment in Male and we are only insisting for adherence to the legal process. Nothing more, nothing Canada Goose Parka less, Syed Akbaruddhin, spokesman for India foreign ministry, said on Thursday.

The cancellation of the contract follows a year of political turmoil in the Canada Goose Jackets Maldives that saw the ousting of its Canada Goose Outlet former president and months of unrest.

The contract to upgrade and operate the airport and build a new terminal came after a global tender overseen Canada Goose online by the World Bank and signed under former president Mohamed Nasheed administration. (Additional reporting by Shihar Aneez in COLOMBO and Kaustubh Kulkarni in MUMBAI; Writing by Tony Munroe; Editing by Muralikumar Anantharaman, Jonathan Thatcher and Mark Potter).

Merkel’s SPD rivals rally in search of German election rebound

DORTMUND/BERLIN, Germany (Reuters) Germany Social Democrats (SPD) rallied behind Canada Goose Jackets their leader on Sunday, agreeing policies on investment, social justice and Europe that they hope will reverse a slump in opinion polls and end Angela Merkel 12 year hold on power in a September vote.

German Chancellor candidate Martin Schulz buy canada goose jacket cheap of Canada Goose Parka the Social Democratic party (SPD) canada goose uk outlet poses with party’s board members Thomas Oppermann, Katarina Barley, Hubertus Heil and Manuela Schwesig during the party convention in Dortmund, Germany, June 25, 2017. REUTERS/Wolfgang Rattay

The SPD surged in the polls after naming Schulz as leader in late January, overtaking Merkel conservatives in some, but those gains have now evaporated and the party is struggling to regain momentum.

An Emnid poll on Sunday showed Merkel conservatives widening their lead to 15 points.

In an 80 minute speech before the party agreed its policy manifesto, Schulz, a former president of the European Parliament, was most passionate on Europe.

The chances of denying Merkel a fourth term look slim for the SPD, who are currently junior partners in her right left coalition, but some Canada Goose Outlet have been inspired by the resurgence by Britain Labour party under Jeremy Corbyn in a June 8 vote.

we can learn from the British is that we won let ourselves be depressed by Canada Goose Online polls. We will fight for our own convictions, SPD General Secretary Hubertus Heil told Reuters.

Like Corbyn, Schulz has succeeded to some extent in appealing to younger voters. Some 40 percent of members who have joined since Schulz nomination are under canada goose clearance sale 35, says Jusos, the youth branch of the SPD.

A combination picture shows Chancellor candidate Martin Schulz of the Social Democratic party SPD addressing the SPD party convention in Dortmund, canada goose factory sale Germany, June 25, 2017. REUTERS/Wolfgang Rattay

Despite a roller coaster few cheap canada goose uk months, delegates of all ages said they felt energised by Schulz.

Schulz spoke in a very committed way, very inspiring, delegate Frank Boermann from Berlin told canada goose coats on sale Reuters. managed to lift the party again.

But the reality of having lost power in two state elections and failing to win in a third this year has knocked morale despite the cheers and red flags emblazoned canadagooseoutlete with buy canada goose jacket for Martin Schulz slogans evident in Dortmund on Sunday.

With a sharp fall in canada goose store the number of refugees arriving in Germany, many voters have forgiven Merkel for her open canada goose clearance door migrant policy and uk canada goose see her as a safe pair of Canada Goose sale hands.

To have any chance of winning in September, the SPD needs to mobilise traditional supporters, who have either not voted or shifted allegiance in the past few years.

To that end, Schulz has canada goose focused cheap Canada Goose much of his campaign on social justice. He wants to reduce taxes for low and middle canadian goose jacket earners, keep pensions stable, extend free education and invest more in canada goose coats infrastructure.

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He won a standing ovation for saying he would 2018 Canada Goose not canada goose uk shop sign a coalition Canada Goose online deal unless it included a commitment to gay marriage.

He has, however, Canada Goose Coats On Sale disappointed some on the left by refusing to commit to a wealth tax. To defuse an embarrassing showdown on Sunday, the party canada goose uk black friday is appointing a commission to look into it.

The SPD even wheeled out ex chancellor Gerhard Schroeder, the last Social Democrat to lead Germany, to boost morale. He said canada goose black friday sale they could still win and reminded them of the SPD fightback to run Merkel close in uk canada goose outlet the 2005 election the last one he fought.

Additional reporting by Thorsten Severin; writing by Madeline Chambers; editing by Mark Heinrich and Adrian Croft.

business in China warms to possible Trump trade policy shake

business community in China, with some industry leaders saying canada goose black friday sale they would welcome canadian goose jacket a canada goose store tougher approach from the Trump administration in cheap Canada Goose opening up the markets of the world second largest economy.

It Canada Goose Parka a striking shift within the American community canada goose clearance sale here, which had long lobbied Washington Canada Goose online against taking more aggressive policies, fearing they could draw retribution from China leaders.

President Donald Trump picks for Commerce Secretary and Trade Representative, Wilbur Ross canada goose uk shop and Robert Lighthizer, have in the past backed the reciprocity canada goose coats on sale principle when it comes to canada goose factory sale China: that Beijing should provide the same access and benefits to American business in China that Washington gives the Chinese in the United States.

membership has moved to some extent in that direction as well, in advocating a firmer posture with respect to China, said Lester Ross, chairman of the American Chamber of Commerce in China policy committee.

He made the remarks in January after the group issued a report that buy canada goose jacket cheap found over 60 percent of the chamber members had or no confidence that the Chinese government is committed to opening markets further in the next three years

Many sectors of China Canada Goose sale economy uk canada goose outlet are either off limits or severely restricted to foreign investors.

Foreign banks in China, for example, account for less than 2 percent of total assets, according to the China Banking Regulatory Commission.

A 50 percent ownership cap for foreign life insurers, canada goose uk black friday despite China 2001 World Trade Organization commitments to lift it, has cheap canada goose uk helped limit their market share canada goose clearance to about 6 percent. assets, including the Waldorf Astoria Hotel and Strategic Hotels Resorts.

HAS OVERREACHED The same imbalances can be seen in sectors such as automotives, payment cards and technology.

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Foreign technology hardware and service providers are bristling at requirements to meet the restrictive terms of newly minted cyber security regulations. Beijing in China 2025 plan also calls for a progressive increase in domestic parts used in priority sectors, such as advanced information technology and robotics to 70 percent by 2025.

James McGregor, Chairman of APCO Worldwide, Greater China, said the idea of some form of reciprocity is gaining traction, particularly canada goose coats in combating got Chinese companies that have protected markets Canada Goose Outlet and make loads of money and then they are going out and doing international acquisitions that could destroy other companies, McGregor said. China has https://www.cagooseclearance.com overreached so much they have alienated much of the business community. policy makers had to figure out how to use America openness and rule of law to deal with China, instead of allowing them Canada Goose Online to become vulnerabilities. businesses in China. businesses could be targets in any trade war that Trump may unleash he has threatened to label China a currency manipulator and Canada Goose Coats On Sale slap heavy tariffs on Chinese goods.

China Ministry of Commerce did not respond to a canada goose uk outlet request for comment on the issue of reciprocity.

But Tu Xinquan, a trade expert at Beijing University of International Business and Economics, said Trump options would be limited by his promises to create jobs.

you close the door to Chinese investments, uk canada goose that not good for American employment, Tu said. businesses face discrimination in China. But most experts see that as straying too far from the free market orthodoxy that has drawn investment and jobs to the buy canada goose jacket United States Canada Goose Jackets for decades.

need to be very careful what we ask for, Zimmerman said.

Proponents argue reciprocity does not violate free market principles, but is a needed intervention due Discount Canada Goose to a market failure, much canada goose as the government uses antitrust policy to crack down on cartels.