Nicaragua President Daniel Ortega and Chinese businessman Wang Jing have inaugurated construction works for a canal aimed at connecting the Atlantic and Pacific oceans, dpa reported. Slated to take five years to build at a cost of 50 billion euros (61.23 billion dollars), the canal will cross the southern part of Nicaragua to provide a competing shipping route to the Panama Canal. Nicaraguan officials said they aim to move 5 per cent of the world's commerce through the canal.
