RENEE MONTAGNE, HOST: NPR's business news starts with a man, a plan, a canal.</s>RENEE MONTAGNE, HOST: Not Panama this time. This canal is in Nicaragua. Yesterday, the Nicaraguan congress granted a Chinese tycoon the exclusive right to develop a multi-billion dollar rival to the Panama Canal. The bill grants the investor 50 years of control over the potential shipping route - pending a study of its viability.
The Nicaraguan congress has granted a Chinese tycoon the exclusive right to develop a multi-billion dollar rival to the Panama Canal. The bill grants the investor 50 years of control over the potential shipping route — pending a study of its viability.