build

Oct. 31 (UPI) — The Panama Canal Authority plans to move forward with construction and subsequent concession of two new port terminals, with an estimated investment of $2.6 billion.

According to information released by the authority in a press release, the terminals are planned for two strategic areas along the canal, one on the Pacific coast in Corozal and the other on the Atlantic side at Telfers Island.

The goal of both projects is to expand container-handling capacity and strengthen Panama’s position as an interoceanic logistics hub.

With the addition of these two terminals, the goal is to increase container capacity from about 9.5 million (20-foot equivalent units per year to roughly 15 million. The projects also aim to expand port capacity in the interoceanic area, which is operating near its limit.

The Corozal port, on the Pacific coast, would take advantage of its proximity to the canal’s western entrance to capture container traffic using the interoceanic route. The Telfers Island project, on the Atlantic side, would cover the other end of the canal, facilitating both transshipment and cargo transfers between ocean routes.

Together, the two projects would reinforce Panama’s strategy to move beyond a transit route and establish itself as a logistics center, transshipment port and industrial platform for the region.

The authority said it expects to award the concessions by late 2026, allowing the terminals to begin operations in early 2029. It has begun discussions with representatives from about 20 global maritime operators to identify potential partners for the port development.

Representatives from APM Terminals (Denmark), Cosco Shipping Ports (China), CMA Terminals-CMA (France), DP World (United Arab Emirates), Hanseatic Global Terminals (Germany), MOL (Japan), PSA International (Singapore), SSA Marine-Carrix Group (United States) and Terminal Investment Limited (Switzerland) took part in the initial round of talks.

However, in Panama’s public debate, there is discussion over whether the concession model is the most appropriate way to develop the projects or if the authority should operate the terminals.

The discussion follows an audit by the Office of the Comptroller General into Panama Ports Co. — a subsidiary of China’s CK Hutchison that operates key terminals in the country– that found multimillion-dollar shortfalls in payments owed to the state, though the discrepancies were attributed to a “poorly negotiated” initial contract.

The Panama Canal also faces additional challenges in developing the new ports, including the need to secure supporting infrastructure, such as road access, dredging, water supply, logistics services and environmental impact studies required for these large-scale projects.

The initiative comes amid a global context in which container ships continue to grow in size, maritime routes seek greater efficiency and logistics hubs compete fiercely across Latin America.

As part of the Panama Canal’s Vision 2025-2035 plan, container terminals are seen as key components of the supporting infrastructure, second in importance only to the locks and navigation channels. Their development aims to strengthen port capacity and ensure the competitiveness of Panama’s maritime route.

In mid-September, the authority also announced development of a natural gas pipeline. The project aims to create a new overland energy route that would complement the existing canal by linking the Pacific and Atlantic coasts across Panama.

The pipeline would transport liquefied natural gas and other gases, such as propane and butane, from one ocean to the other without ships having to transit the canal. It would extend 47 miles and have the capacity to transfer up to 2.5 million barrels of gas per day.

The authority estimates that the project, which has drawn interest from about 45 energy companies, will cost between $4 billion and $5 billion. It also expects the concession to be awarded in the fourth quarter of 2026.

A MAJOR new museum is opening and it will be the largest archaeology museum in the world.

The Grand Egyptian Museum based in the winter sun spot of Cairo, will officially open to the public this weekend, after a decade of set backs.

The new museum traces the history of ancient Egyptian civilisation and cost around $1billion (£761million) to build.

One of the main attractions are the Tutankhamun Galleries, which are home to 5,000 objects that were discovered when the famous pharaoh’s tomb was back in 1922.

Visitors will even be able to see his golden coffin, discovered more than a century ago.

In another wing, visitors will find two of King Khufu’s (the pharaoh who commissioned the construction of the Pyramid of Giza) solar boats, which were found near the Pyramids.

And if you want a glimpse of the pyramids, just look out the building’s sprawling windows.

The galleries are split by eras of Egyptian civilisation and include Predynastic, the Old Kingdom, the Middle Kingdom, the Late Kingdom, Ptolemaic Egypt and the Roman Period.

Throughout the museum, there are many interactive features such as pyramid building and papyrus making, and there is a children’s museum too.

According to Time Out, the museum features around 250,000 triangular stone pieces that make up its north facade.

There is then a pyramid-shaped entrance, with gold hieroglyphics.

As you enter, you will then see a huge atrium with an 11 metre tall statue of Ramses II – the pharaoh of Egypt between 1279 and 1213 BCE.

Also in the atrium, is a collection of restaurants and shops.

In total, the museum is the same size as 93 football pitches and once it is fully open, will house over 100,000 artefacts.

After exploring the museum, you can then head to the Pyramids of Giza which are just over a mile away.

Ahmed Youssel, CEO of the Egyptian Tourism Authority, told Time Out: “It’s not a museum, it’s a cultural hub.

“You don’t see history. You live history, you experience history.

“That’s the idea. When we build new museums, we have this concept of virtual reality, augmented reality – electronic things everywhere.”

The museum was originally meant to open back in 2013, but it has been delayed several times due to a variety of reasons including politics, regional conflict, budget and the Covid-19 pandemic.

And last year it then opened for its soft launch, ahead of the official opening this weekend.

Tickets to the museum cost £23.36 per adult and £11.76 per child, and they can either be bought in advance online or at the museum.

Cairo has highs of 21C during the winter months, and lows of around 11C.

In other museum news, the UK’s newest national museum is more like an Ikea store – and Kate Middleton is already a fan.

Plus, a major UK museum named one of the best in Europe to get huge £2.7million expansion.

GYEONGJU, South Korea — The United States will share closely held technology to allow South Korea to build a nuclear-powered submarine, President Trump said on social media Thursday after meeting with the country’s president.

President Lee Jae Myung stressed to Trump in their Wednesday meeting that the goal was to modernize the alliance with the U.S., noting plans to increase military spending to reduce the financial burden on America. The South Korean leader said there might have been a misunderstanding when they last spoke in August about nuclear-powered submarines, saying that his government was looking for nuclear fuel rather than weapons.

Lee said that if South Korea was equipped with nuclear-powered submarines, that it could help U.S. activities in the region.

U.S. nuclear submarine technology is widely regarded as some of the most sensitive and highly guarded technology the military possesses. The U.S. has been incredibly protective of that knowledge, and even a recently announced deal with close allies the United Kingdom and Australia to help the latter acquire nuclear submarine technology doesn’t feature the U.S. directly transferring its knowledge.

Trump’s post on social media comes ahead of his meeting with Chinese President Xi Jinping, whose country possesses nuclear submarines, and after North Korea in March unveiled for the first time a nuclear-powered submarine under construction. It’s a weapons system that can pose a major security threat to South Korea and the U.S.

As Trump visited South Korea, North Korea said Wednesday it conducted successful cruise missile tests, the latest display of its growing military capabilities.

Pentagon officials didn’t immediately respond to questions about Trump’s announcement on sharing the nuclear sub technology with South Korea.

Megerian and Boak write for the Associated Press. Boak reported from Tokyo. AP writer Konstantin Toropin contributed to this report from Washington.

“For more than 150 years, every President has dreamt about having a Ballroom at the White House,” wrote no one ever until Donald J. Trump posted the proclamation on his Truth Social platform Monday.

The president’s plans to build the kind of venue that most Americans associate with Disney princesses, Von Trapp family soirees and let-them-eat-cake dynasties became a reality this week as construction crews began tearing down the White House East Wing to build Trump’s 90,000-square-foot, $300-million ballroom (up $100 million from estimates it cited earlier in the week). When completed, the venue will dwarf the main White House, boasting nearly twice the square footage of the executive residence.

The first photos and footage of heavy machinery knocking down parts of the East Wing on Monday triggered strong reactions from historians, preservationists, politicians and regular folk — all of whom took umbrage with the administration’s unilateral decision to alter the 224-year-old official residence of presidents dating back to John Adams.

The nonprofit National Trust for Historic Preservation has asked the administration to delay further demolition until plans for the ballroom undergo a public review process, arguing the massive addition “will overwhelm the White House itself.” Late-night host Stephen Colbert used the opportunity to call out another instance of institutional destruction: “We’re just nine months into Trump’s term, and he’s already going ‘Hulk Smash!’ on the White House. Last time, it took at least four years to bring a demo crew to the Capitol,” he said, referring to the Jan. 6 insurrection.

In an official statement posted on its website, the White House blamed the outcry over Trump’s East Wing demolition on a Democratic overreaction. “In the latest instance of manufactured outrage, unhinged leftists and their Fake News allies are clutching their pearls over President Donald J. Trump’s visionary addition of a grand, privately funded ballroom to the White House — a bold, necessary addition that echoes the storied history of improvements and additions from commanders-in-chief to keep the executive residence as a beacon of American excellence.”

As if anyone but the Trumps — or the billionaires donating to his project — can afford pearls at this point. Trump says his ballroom is being privately funded by “many generous Patriots, Great American Companies, and, yours truly,” and that the burden of constructing his opulent project won’t fall on taxpayers. Good thing, because the bottom 90% is pretty tapped out.

Americans are struggling to keep up financially. Wage growth has slowed as prices for essentials continue to climb despite Trump’s 2024 campaign promises to beat back inflation. The U.S. Bureau of Labor Statistics reports that, from August 2024 to August 2025, the price of meat, poultry, fish and eggs rose 5.6%, nonalcoholic beverages increased 4.6%, and prices for fruits and vegetables increased 1.9%. Though gasoline prices dropped, the cost of electricity increased 6.2%, and the price of natural gas rose 13.8%. Other notable price increases include medical care (3.4%) and auto insurance (4.7%). But who needs lighting, heat or their health when there are ballrooms to build?

Renderings of the site released by the White House look suspiciously like the gilded ballroom at Mar-a-Lago, Trump’s private home and club in Palm Beach, Fla., with its gilded ceilings, imposing columns and ornate chandeliers.

The Oval Office and Cabinet Room have already been remade in Trump’s image, with the addition of numerous portraits, busts and gleaming gold flourishes. The bathroom off the Lincoln Bedroom has also reportedly been redone, but how does one top the now-infamous Mar-a-Lago restroom, with its crystal lighting fixtures, marble floors and stacks of classified-document boxes?

Addressing Republican Party senators at the White House on Tuesday, Trump said, “You probably hear the beautiful sound of construction in the back. … When I hear that sound, it reminds me of money.” At least he was honest.

The White House declined to give details on just who is funding the ballroom, and the opaque response raised concerns that the project may serve as a pay-to-play opportunity for those who wish to curry favor with the administration. The only known donor to date was revealed in court documents. YouTube is slated to pay $22 million toward the project as part of a settlement with Trump over his account being suspended following the Jan. 6 insurrection at the U.S. Capitol.

Trump expects the ballroom to be completed before his term is up, he says. But will he leave a glass slipper behind?

WASHINGTON — The White House started tearing down part of the East Wing, the traditional base of operations for the first lady, to build President Trump’s $250-million ballroom despite lacking approval for construction from the federal agency that oversees such projects.

Dramatic photos of the demolition work that began Monday showed construction equipment tearing into the East Wing façade and windows and other building parts in tatters on the ground. Some reporters watched from a park near the Treasury Department, which is next to the East Wing.

On Wednesday, the New York Times reported that the plan now called for the demolition of the entire East Wing and that the tear-down should be completed by Sunday. Citing a source, The Times said it marks an escalation over earlier plans for the ballroom.

Trump announced the start of construction in a social media post and referenced the work while hosting 2025 college baseball champs Louisiana State University and LSU-Shreveport in the East Room. He noted the work was happening “right behind us.”

“We have a lot of construction going on, which you might hear periodically,” he said, adding, “It just started today.”

The White House has moved ahead with the massive construction project despite not yet having sign-off from the National Capital Planning Commission, which approves construction work and major renovations to government buildings in the Washington area.

Its chairman, Will Scharf, who is also the White House staff secretary and one of Trump’s top aides, said at the commission’s September meeting that the agency does not have jurisdiction over demolition or site preparation work for buildings on federal property.

“What we deal with is essentially construction, vertical build,” Scharf said last month.

It was unclear whether the White House had submitted the ballroom plans for the agency’s review and approval. The White House did not respond to a request for comment and the commission’s offices are closed because of the government shutdown.

The Republican president had said in July when the project was announced that the ballroom would not interfere with the mansion itself.

“It’ll be near it but not touching it and pays total respect to the existing building, which I’m the biggest fan of,” he said of the White House.

The East Wing houses several offices, including those of the first lady. It was built in 1902 and and has been renovated over the years, with a second story added in 1942, according to the White House.

Karoline Leavitt, the White House press secretary, said those East Wing offices will be temporarily relocated during construction and that wing of the building will be modernized and renovated.

“Nothing will be torn down,” Leavitt said when she announced the project in July.

Trump insists that presidents have desired such a ballroom for 150 years and that he’s adding the massive 90,000-square-foot, glass-walled space because the East Room, which is the largest room in the White House with an approximately 200-person capacity, is too small. He also has said he does not like the idea of hosting kings, queens, presidents and prime ministers in pavilions on the South Lawn.

Trump said in the social media announcement that the project would be completed “with zero cost to the American Taxpayer! The White House Ballroom is being privately funded by many generous Patriots, Great American Companies, and, yours truly.”

The ballroom will be the biggest structural change to the Executive Mansion since the addition in 1948 of the Truman Balcony overlooking the South Lawn, even dwarfing the residence itself.

At a dinner he hosted last week for some of the wealthy business executives who are donating money toward the construction cost, Trump said the project had grown in size and now will accommodate 999 people. The capacity was 650 seated people at the July announcement.

The White House has said it will disclose information on who has contributed money to build the ballroom, but has yet to do so.

Trump also said at last week’s event that the head of Carrier Global Corp., a leading manufacturer of heating, ventilation and air-conditioning systems, had offered to donate the air-conditioning system for the ballroom.

Carrier confirmed to the Associated Press on Monday that it had done so. A cost estimate was not immediately available.

“Carrier is honored to provide the new iconic ballroom at the White House with a world-class, energy-efficient HVAC system, bringing comfort to distinguished guests and dignitaries in this historic setting for years to come,” the company said in an emailed statement.

The clearing of trees on the south grounds and other site preparation work for the construction started in September. Plans call for the ballroom to be ready before Trump’s term ends in January 2029.

Superville writes for the Associated Press.

The American dream is something like owning your own home, living comfortably, and seeing your children live happy and productive lives. That dream is even better if you can pass on your wealth to your children, which is basically what’s called generational wealth.

What if you don’t just pass on some money but instead pass on a reliable income stream? That’s what Realty Income (O 1.13%) could let you do. Here’s what you need to know about this unstoppable dividend stock.

The big number is, currently, 30

What does an unstoppable dividend stock look like? That’s pretty easy. It’s a company that manages to increase its dividend every year for decades on end. Real estate investment trust (REIT) Realty Income’s dividend streak is up to 30 years and counting at this point.

What’s notable about that streak is that it includes some of the worst economic periods of recent history. And some of the worst bear markets. Realty Income’s dividend grew through the Dot.com crash, the Great Recession (and associated bear market) between 2007 and 2009, and the COVID-19 pandemic. What’s notable is that the Great Recession was particularly difficult for the real estate sector, and the pandemic was devastating to retailers, which make up over 70% of Realty Income’s tenants.

Basically, Realty Income has proven that it has what it takes to survive over the long term while continuing to reward investors with a progressive dividend. But that’s not all. It also happens to have an investment-grade-rated balance sheet, so it is financially strong. And it is geographically diversified, with properties in both the U.S. market and across Europe. While the portfolio is tilted toward retail properties, they tend to be easy to buy, sell, and release if needed. The rest of the portfolio, meanwhile, adds some diversification. All in all, it is a well structured REIT.

Plenty of generational opportunity ahead

The big draw for Realty Income is going to be the dividend yield, which sits at 5.4% or so. That’s well above the 1.2% the S&P 500 index is offering today and the 3.8% or so yield of the average REIT. But, as highlighted above, this isn’t exactly a high-risk investment. Why is the yield so high?

The answer is that Realty Income is a boring, slow-growth business. Over the three decades of dividend growth, the dividend has increased at a compound annual rate of 4.2%. That’s above the historical growth rate of inflation, so the buying power of the dividend has increased over time. But all in all, this is not an exciting stock to own and, frankly, isn’t meant to be. The company trademarked the nickname “The Monthly Dividend Company” for a reason: The REIT’s goal is specifically to be a reliable dividend stock.

There’s no reason to believe it will be anything but reliable in the future. Notably, it is the largest net-lease REIT, giving it an edge on its competitors when it comes to costs and deal making. Management has also been diversifying the business with the goal of increasing the number of levers it has to pull to support its slow and steady growth. None of its efforts involve undue risk, either. Slow and steady is the goal, but so far that’s worked out very well for dividend investors.

A simple and generational proposition

What you are getting when you buy Realty Income is a boring dividend stock that will pay you well to own it. And when the time comes, you can pass that income stream on to the next generation. Building generational wealth is a great thing, but just handing on a pile of money isn’t the only way to do it.

Imagine living a comfortable retirement with the monthly dividends you collect from Realty Income. And while you do that, you can think about how much easier the lives of your children will be when they collect that income instead of you.

Google announced it will invest $15 billion to build a new AI hub in Visakhapatnam, Andhra Pradesh, in southeastern India. Pictured from left are: Bikash Koley, vice president of Global Infrastructure and Capacity at Google Cloud; Ashwini Vaishnaw, IT minister; Nirmala Sitharaman, India minister of Finance and
Corporate Affairs; Nara Chandrababu Naidu, chief minister of Andhra Pradesh; Nara Lokesh, minister for Information Technology for Andhra Pradesh; and Thomas Kurian, CEO of Google Cloud. Photo courtesy of Google.

Oct. 14 (UPI) — Google announced it will invest $15 billion to build an AI hub in India, Google Cloud CEO Thomas Kurian announced Tuesday.

The hub will be in Visakhapatnam, Andhra Pradesh, in southeastern India, and will reportedly be a 1-gigawatt facility.

The investment is Google’s largest Indian investment to date and will create Google’s largest AI hub in the world outside of the United States, Kurian said.

On Monday, Lokesh Nara, Andhra Pradesh’s minister of Human Resources, posted on X about the investment.

“After a year of intense discussions and relentless effort, tomorrow we make history. Google will sign an MOU with the Govt. of Andhra Pradesh for a 1GW project with an investment of $10 billion USD. It is a massive leap for our state’s digital future, innovation, and global standing. This is just the beginning,” he wrote.

The Indian Economic Times reported on Saturday that the investment would come from Google’s Indian subsidiary Raiden Infotech, which will also develop three campuses in Visakhapatnam.

According to an analysis commissioned by Google by Access Partnership, the AI hub is expected to generate at least $15 billion over five years in American gross domestic product because of new economic activity from increased cloud and AI adoption, as well as the American talent and resources involved in developing and operating the AI hub, the Google press release said.

“The Google AI hub in Visakhapatnam represents a landmark investment in India’s digital future,” Kurian said in a statement. “By delivering industry-leading AI infrastructure at scale, we are enabling businesses to innovate faster and creating meaningful opportunities for inclusive growth. This partnership reflects our shared commitment to the Indian and U.S. governments to harness AI responsibly and drive transformative impact for society.”

Part of the investment will be the construction of a new international subsea gateway, including multiple international subsea cables to land in Visakhapatnam, which is on the coast of the Bay of Bengal. This will help India meet its increasing digital demands, giving route diversity to complement subsea cable landings in Mumbai and Chennai and securing India’s digital backbone.

“This significant investment in Andhra Pradesh marks a new chapter in India’s digital transformation journey,” said N. Chandrababu Naidu, chief minister of Andhra Pradesh, in a statement. “We are proud to host India’s first truly gigawatt-scale data center and Google’s first AI hub in India, which is a testament to our shared commitment to innovation, AI adoption, and long-term support for businesses and startups in the state.”

Although fixtures against Sri Lanka and Pakistan should be straightforward for England as they look to continue their winning streak, they could prove decisive with back-to-back matches against India and Australia to come.

England thrashed South Africa in what could have been a tricky opener, avoided a scare against Bangladesh and now have a golden opportunity to make sure they go into those games against the pre-tournament favourites unbeaten.

But they will have to contend with more spin-friendly conditions in Colombo on Saturday, with opener Tammy Beaumont saying the nature of the pitches is reducing the gulf between teams.

“Every game in this World Cup is big. Bangladesh played so well against us and Sri Lanka will be a challenge in home conditions,” she told BBC Sport.

“The conditions are bringing all the teams into it, so it’s important we have to keep playing well.

“It certainly feels like the fixtures have worked quite well for us, so hopefully we can keep building that momentum and it will be all guns blazing by the time we get to Indore.”

The surface in Indore is likely to be the most batter-friendly that England will experience, with Australia’s 326 there against New Zealand the highest total of this World Cup.

While England’s batters struggled against spin against Bangladesh in Guwahati, they are not alone.

Australia’s extraordinary batting depth saved them from what would have been a mind-blowing defeat by Pakistan, recovering from 76-7 to post 221-9 in Colombo, but England have also proved they have a well-rounded attack for the surfaces.