China Takes Over Key Pakistan Port

China has taken over management of a major port in Pakistan in a move that gives it a potential naval base close to the Strait of Hormuz, reports Reuters. China paid most of the $248 million used to build the port of Gwadar on the Arabian Sea, aiming to slash the time it takes oil to reach China from the Middle East and Africa. The acquisition of the port has alarmed India, which fears it is being encircled by a string of Chinese-funded ports that also includes facilities in Bangladesh and Sri Lanka. (More China stories.)