The Labour party says it sees the so-called Saudi initiative - which calls for an Israeli withdrawal to the 1967 border in exchange for relations with Arab countries - as the basis for a peace deal and would aim for a full agreement "within two years".

BBC: Israeli election: Where they stand

Our meeting today, therefore, provided a welcome opportunity to review our bilateral relations and exchange the views on key issues of mutual interest in a candid and cordial atmosphere.

WHITEHOUSE: Vice President Biden and Kenyan President Kibaki

The most important is the dysfunctional volatility of exchange rates that could sour international relations in time of crisis.

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But the Bush administration's investigation of a report that Gadhafi plotted to assassinate Saudi Crown Prince Abdullah cast doubts on how soon the two countries would move toward an exchange of ambassadors, which would signify the full resumption of relations.

CNN: U.S. renews diplomatic ties with Libya

In December, Bush announced an agreement between the United States, Britain and Libya for Libya to give up its weapons of mass destruction programs in exchange for the lifting of U.S. sanctions and better relations with the international community.

CNN: U.S. to lift final sanctions against Libya

When the history of the relations between politicians and the press is written, one short exchange could sum up the whole Leveson Inquiry.

BBC: Parties, power and the press

Through good relations established between her bank and its counterpart in China, direct renminbi-ringgit exchange was opened in August.

FORBES: Women to Watch In Asia

"We're pleased they're going to repropose" amendments, says Susan Milligan, senior vice president of government relations for Options Clearing, the clearing house for the major options exchanges, including the Chicago Board Options Exchange, American Stock Exchange, Boston Options Exchange and International Securities Exchange.

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