The Sultanate of Oman is conducting this workshop to enhance its interest and scientific advancement in the fields of architecture control, eco-tourism and environment protection. In the past few decades, Oman has been able to leapfrog various eco-friendly projects including renewable energy, management of waste, water resources and anti-pollution drive on marine world.

The study meet which is jointly organized by Ministry of Heritage and Culture and French Embassy is expected to promote sustainable development programs with emphasis on green architecture and eco-tourism. Oman industry heads would be primarily interested in technology transfer and other inputs from France to take their green industry to the next level of development.

French Ambassador to the Sultanate Malika Berak is of the opinion that the three-day event will prove to be an opportunity to expand bilateral ties as 10 leading architecture agencies with good number of experts from France have agreed to take part in the workshop. The event will target French and Omani architects, researchers, institutional representatives and officials in charge of sustainable development affairs to put accent on an eco-friendly comprehensive plan for all future developments in possible sectors.

According to sources, Jean Gautier, Director of Architecture at French Ministry of Culture and Communication, will give a presentation on the urban planning project ‘Grand Paris’. Besides, the Muscat municipality projects are also likely to be featured at the event to draw expert feedback.

Toboc Trade News

The Stockholm International Peace Research Institute (SIPRI) stated in its annual report that the global arms race had accelerated, most dramatically in South America and South-east Asia, despite the economic meltdown. The Swedish institute, which conducts independent research on arms trade and its implications, said global defence transfers in the last five years had risen by 22 percent, with Asia and Oceania the biggest recipients with 41 percent of the total.

According to the head of the report, Paul Holtom, resource-rich countries were setting the trend by using their earnings to build out their combat aircraft fleets, and neighbouring rivals had reacted to these acquisitions with orders of their own. Furthermore, he questioned the rationale of these countries’ defence procurement policy in the allocation of resources in regions with high levels of poverty.

The study pointed out that it was able to witness a significant demand for combat aircrafts, and warned that deliveries of combat aircraft could fuel an arms race in the Middle East, north Africa, South America and south Asia. It said combat aircrafts accounted for 39 percent of major US weapons sales over the past five years, and about 40 percent of Russian arms exports.

Without any surprise, the US continued to top the chart with 30 percent of the total arms exports, followed by Russia at 23 percent, Germany (11%), and France (8%). It should be recalled that the study period was inclusive of more than two years of global economic contraction. However, the report was not in a position to provide the cost of the arms trade as most governments no longer released the figures.

Toboc Trade News

Germany’s non-committal on bailing out Greece after initially declaring support also signals that the EU would not hesitate to jettison its family member as there are already differences in using tax-payers money. On account of several polls and going by the words of Luxembourg’s Prime Minister Jean-Claude Juncker, head of the Eurogroup of ministers that oversee the Eurozone, Germany, Belgium or Luxembourg are not prepared to correct Greek fiscal policy mistakes.

The economic woes of Greece began after it hit upon a budget deficit of 12.7 percent of its GDP in 2009, four times more than the allowed EU limit. Though the government claims that it would slash 4 percent by the end of this year to eventually reach the EU limit of 3 percent by 2012, with current measures it seems insurmountable.

This year Greece needs about €54bn, and until now, it has raised around €13bn. The country has about €23bn in debt payments to be made in April and May. As counter measures, Greece has announced austerity initiatives and sale of another €3bn to €5bn debt.

However, in January, Greece sold five-year bonds amounting to €8bn, and within days the value of the bonds fell dimming hopes of future such offerings. Unless the government rolls out some tangible financial support mechanism, even this door will be perpetually shut.

Greece to avoid being outlawed and to tide over the crisis, it is learned that it has to shrug off its false pride and formally seek assistance from the EU or even the IMF without engaging in blame game. The Papandreou administration has accused the past regime’s mismanagement of finances and failed policies as major factors for the snowballing of the current crisis.

Starting from the 2004 Olympic Games in Athens to the previous government’s decision to dismantle its anti-fraud department were pointed out to be some of the areas send the country crashing with debt. Furthermore, the country’s defence outlay beyond threat perception and unnecessary expenditure on expensive eaves-dropping street cameras were also blamed.

Incidentally, though the Greek economy is not large enough to cause any damage to the EU economy, but it is feared any SOS response from the Union may set precedence to other countries including Spain, Portugal, Ireland and Italy which are in similar situations. It has been understood through recent turn of events, unless an effective, efficient and transparent roadmap to rescue Greece is not made available soon under the tutelage of the EU, not just the collapse of a nation but also the unity of the region and its currency would be at stake.

Toboc Trade News