Ukraine could miss out on energy sector funding from China worth up to $3.65 billion because squabbles between ministries and the state-run energy firm Naftogaz have held up project proposals, according to interviews with officials. Ukraine signed the loan agreement with the China Development Bank (CDB) in 2012 and it must submit proposals for projects by June to receive funding. Source Reuters
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Saudi security forces foiled an attack on the Grand Mosque in the Muslim holy city of Mecca on Friday, state television Al-Ekhbariya and Al Arabiya TV reported. Source Reuters
Turkey rejected a call from four Arab states on Friday to shut down its military base in Qatar, saying the base was a guarantor of security in the Gulf and demands for its closure represented interference in its ties with Doha. Source Reuters
The European Central Bank pulled the plug on two troubled Italian banks, sending them into insolvency proceedings and pushing ahead with efforts to clean up weak banks holding back the economy. The two banks, Veneto Banca and Banca Popolare di Vicenza, have struggled to overcome high levels of loans that were not being paid back.Source ABC