Chinese-built railway links landlocked Ethiopia, one of the world’s fastest growing economies, to the sea

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A test is carried out on the Chinese-built Ethiopia-Djibouti railway near Addis Ababa this week. Photo: Xinhua

 

Deal brings reliable transport to Addis Ababa and access to market of 95 million people to tiny but strategic port of Djibouti

With Chinese conductors at the helm, a fleet of shiny new trains on Wednesday began plying a new route from the Ethiopian capital to neighbouring Djibouti, in a major boost to both economies.

The 750km railway, built by two Chinese companies, will link Addis Ababa to Djibouti, a strategic port enclave on the Red Sea, in about 10 hours, a far cry from the current excruciating multi-day trip along a congested, potholed road.

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These black swans pose biggest threats to market, says SocGen

 

SAN FRANCISCO (MarketWatch) — So-called black-swan events are by definition highly improbable. But that hasn’t stopped the economists at Société Générale from attempting to identify a few scenarios that could blindside the market.

In its ‘Global Economic Outlook’ report released on Monday, SocGen listed six such unlikely events that pose the biggest threats. Those include a hard economic landing in China and the possibility of a referendum in the U.K. on whether to remain in the European Union. Continue reading