Lawyers and analysts believe that the United States government is likely to appeal a World Trade Organization (WTO) ruling that Boeing received illegal subsidies. A WTO panel made this decision on the 31st of March stating that Boeing had received atleast $5.3 billion in illegal subsidies, including tax breaks and funding from NASA. This decision is the latest in a transatlantic legal battle over government support for Boeing and its European rival Airbus.
The United States government stated that the decision justified its position that Airbus had got a lot more support over the years, since an earlier panel found that the European manufacturer had received more than $20 billion in illegal subsidies.
The European Union, unhappy with some aspects of the decision it won against Boeing, immediately launched an appeal that may show even more subsidies.
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Aberdeen Proving Ground
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fishbone1The Ivory Coast receives USD 261 million through a European Union grant, as special aid that will help revive the West African country's economy.
European Union Development Commissioner Andris Piebalgs announces this Tuesday that the European Union grant will clear Ivory Coast's debt accumulated with reference to the European Investment Bank. The European Union grant comes after the French government pumps USD 580 million into the country's economy, so that it can pay off its debts and restart public services in Abidjan, its economic center.
With the European Union grant coupled with the European Union lifting its sanctions to allow ports in Abidjan and the city of San Pedro to reopen, the economic comeback in the country will be brisk after the arrest of President Laurent Gbagbo this week. More than 400,000 tons of cocoa beans sitting in warehouses of the country are exportable now, but the only hindrance is that the banking system needs to be up and running soon. This is because exports will not ship without financing.