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South Sudan on brink of collapse as war rages UPPER NILE: When not plotting military strategy to seize South Sudan's crucial oil fields, sacked vice-president turned rebel chief Riek Machar spends time reading the economic and political history "Why Nations Fail".Cynics might argue he would do better to simply look around his basic bush camp, where mutinous soldiers and an allied ethnic militia crammed with child soldiers ready themselves to attack government forces, as a brutal four-month-long civil war in which thousands of people have already been killed intensifies."I didn't want to fight any more war again," Machar told AFP in a recent interview at his rebel hideout, saying people had had enough of fighting during Sudan's long civil war, in which he was a guerrilla commander.It was that war, which lasted more two decades, that paved the way for South Sudan's independence from the north.But although less than three years old, the world's youngest nation is spiralling towards ...


Spirit maker Diageo hopes for second time lucky in India NEW DELHI: Diageo hopes it will be second time lucky for its $1.9-billion offer to wrest majority control of India's United Spirits as the British booze giant seeks to ramp up its presence in the whisky-loving nation.Last week's offer for shares it does not own in India's biggest liquor company is more than double a 2012 bid spurned by many investors as too low that forced Diageo to settle for a lower stake.While Diageo has ...

Pakistan plans huge desert solar park to fight energy crisis BADAIWANI WALA: For years Pakistanis have sweated and cursed through summer power cuts, but now the government plans to harness the sun's ferocious heat to help tackle the country's chronic energy crisis.In a corner of the Cholistan desert in Punjab province, power transmission lines, water pipes and a pristine new road cross 10,000 acres (4,000 hectares) of parched, sandy land.The provincial government has spent $5 million to put in place the infrastructure as it seeks ...

Russia stares at recession as Ukraine crisis scars economy MOSCOW: Russia looks increasingly likely to sink into recession in 2014 as the knock-on effects of its standoff with the West over Ukraine hurt an economy already beset by structural problems.Data released over the last week showed that Russian is beginning to suffer the effects of the worst East-West political crisis since the Cold War.The threat of economic sanctions from the European Union and the United States has already prompted a massive capital outflow from ...

Europe's mergers and acquisitions market heats up PARIS: Europe's mergers and acquisitions market is rebounding after years in the doldrums, as improving market sentiment is prompting companies to spend piles of cash built up during the financial crisis.A flurry of new deals have been announced in the past month alone, including Numericable's purchase of Vivendi's SFR mobile phone unit in France, the merger of Swiss cement group Holcim and French rival Lafarge and the tie-up of Sopra and Steria to create a ...

Bad weather halts rescue after deadliest Everest disaster KATHMANDU: Bad weather suspended searches Sunday on Mount Everest for three Nepalese sherpa guides still missing after an avalanche killed 13 of their colleagues in the deadliest accident on the world's highest peak.The guides were among a large party that left Everest base camp on Friday morning carrying tents, food and ropes to prepare routes for international clients ahead of the main climbing season in Nepal.Rescuers retrieved 12 bodies and plucked at least seven men ...


 



 
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