Oliver Pearce
Digital Journalist based in London, China.
Joined on Jan 17, 2009
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North Korea has reportedly constructed an underground fuelling facility that could reduce the time needed to fuel ballistic missiles from 4 to 2 days, and which could make it harder for satellites to detect.
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In spite of the global financial crisis that is forcing investors to cash in their chips the government of South Korea is looking to attract more foreign direct investment (FDI) through a sale of private sector shares and public assets.
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Reports on Monday indicated that the legal framework for the Nabucco gas pipeline, running from Asia to Europe, might be signed this week, but geo-political and economical obstacles that have blighted the project remain.
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Iraq has awarded contracts to three international firms to boost export capacities from its southern oil terminals on the Persian Gulf, according to an Iraqi oil industry source in Basra.
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Iraq is taking advantage of improving security conditions to press ahead with over a billion dollars worth of projects to become self-sufficient in oil by-products by the end of the year, and to become an exporter by 2014.
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As the credit crunch begins to bite in the Gulf, the UAE passed a law on Tuesday imposing restrictions on information that is harmful to the economy. But legislation is not the only barrier to the development of an independent domestic media.
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Just two days after Russia restored gas supplies to Europe via the Ukraine, Europe’s leaders vowed to never again be caught cold, promising to diversify its energy suppliers – a move that could increasingly benefit the resource rich Gulf Arab states.
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