Arab League members broke their deadlock and agreed to a complete economic boycott of Egypt and an eventual break in all diplomatic relations with President Anwar Sadat's regime for signing of a peace treaty with Israel. Powerful Saudi Arabia had agreed to hardline demands for the withdrawal of all Arab Ambassadors from Cairo and a subsequent, total breach of diplomatic relations with Egypt. The Saudis had also agreed to halt all economic aid and loans to the Egyptians and the withdrawal of government and individual assets from Cairo.
Sri Lanka seeks full diplomatic ties with UAE
Sri Lanka hopes to establish full diplomatic relations with the UAE soon. The Sri Lanka Finance and Planning Minister Ronnie de Mel said, he will urge his government to take up the question of upgrading diplomatic relations with the UAE to Ambassador level. He was of the view that full diplomatic ties with the UAE were essential for closer trade and economic relations between the two countries.
Air fares increased
Airline Managers have agreed to raise passenger fares and cargo rates between five and 10 per cent in order to offset increased fuel costs. But most of the increases will be in the lower part of the percentage bracket, the spokesman of the International Air Transport Association (lATA) added.
Kim retains title after slow start
South Korea's Kim Sung-Jun retained his World Boxing Council (WBC) light flyweight title when he battled to a controversial draw against Dominican Hector Ray Melendez. Melendez, who took the attack to Kim in the first nine rounds, said afterwards: "They stole the fifth from me. I know I won at least 13 rounds."
