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Vietnam Property - Government Stimulus PackageA $1 billion stimulus package is to be introduced by the Vietnamese government to boost the...
Middle East Property - Abu Dhabi Remains ConfidentWhilst Dubai's property market suffers from its market slowdown, rising job losses and falling...
France Property - Sarkozy Announces Rescue PackageThe French government is preparing a rescue package for France's property industry. President...
Middle East Property - Job losses in DubaiJob losses in Dubai continue as the global credit crisis takes its hold. Developers are recording...
Morocco Property - Investment SlowingMorocco has been a growing market dominated primarily by tourism. But the property market is now...
China Property - Market Recovery Expected?China's property market is expected to recover in the second half of 2009. Analysts claim that the...
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South Africa Property - Large Development To Go AheadDurban in South Africa is to receive the country's first international theme park including villas,...
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An Indian warship in the Gulf of Aden has destroyed a pirate ship off the coast of Somalia.
The pirate 'mother ship' was fired upon after attacking the INS Tabor. The Gulf of Aden is one of the world's busiest shipping lanes and connects the Red Sea and the Indian Ocean. Several countries have already been patrolling the area, but attacks are still happening. The pirate ship was spotted when out on patrol. When asked to stop for an investigation, the pirate ship threatened to blow up the naval warship and then opened fire. The Indians answered by opening fire on the pirates. The ship caught fire and the explosion led to the sinking of the vessel.
Piracy off the coast of East Africa and the Gulf of Aden make up one-third of all global piracy incidents this year. Piracy in the area is believed to have cost up to $30m in ransoms so far this year. The pirates in Somalia have contacts in Dubai and neighbouring countries. A strong network has been developed across the Horn of Africa whilst ransom money has also been used to buy new boats and weaponry. Shipping companies must now weigh up the risks associated with using the short-cut route to Europe via the Suez canal.
Indian Navy Sinks Pirate Ship
An Indian warship in the Gulf of Aden has destroyed a pirate ship off the coast of Somalia.
The pirate 'mother ship' was fired upon after attacking the INS Tabor. The Gulf of Aden is one of the world's busiest shipping lanes and connects the Red Sea and the Indian Ocean. Several countries have already been patrolling the area, but attacks are still happening. The pirate ship was spotted when out on patrol. When asked to stop for an investigation, the pirate ship threatened to blow up the naval warship and then opened fire. The Indians answered by opening fire on the pirates. The ship caught fire and the explosion led to the sinking of the vessel.
Piracy off the coast of East Africa and the Gulf of Aden make up one-third of all global piracy incidents this year. Piracy in the area is believed to have cost up to $30m in ransoms so far this year. The pirates in Somalia have contacts in Dubai and neighbouring countries. A strong network has been developed across the Horn of Africa whilst ransom money has also been used to buy new boats and weaponry. Shipping companies must now weigh up the risks associated with using the short-cut route to Europe via the Suez canal.
Nazare, Portugal
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