Jaguar Land Rover (JLR) has finalized a joint venture agreement with Chery Automobile Co to manufacture and sell vehicles in China, the two companies said, as the luxury British brands look for further growth in the world's largest car market.
The US is under intense pressure to nominate a top candidate for the World Bank presidency after developing countries put forward two credible contenders of their own.
Argentina and Repsol-YPF oil corporation again clashed on Wednesday over the future of the Spanish owned company while members of President Cristina Fernandez administration said measures “can not be discarded” thus re-launching fears about further government actions.
Chinese State of Administration of Grains revealed that the world's top buyer of soybeans is on course to import 25% more in the first half of this year than the first six months of 2011, which will benefit major producers Argentina, Brazil and US.
Foreign Affairs minister Hector Timerman said on Tuesday “there is no country” in the world that can say Argentina is protectionist and claimed it is the G20 member that saw imports soar most between 2010 and 2011.
The next Mercosur presidential summit is scheduled to take place next 26/28 June in the city of Mendoza, when the rotating chair will be handed for the following six months to Brazil.
Adding fuel to the quarrel between Argentina and Spain for disagreements over Spanish investors administrated YPF, Spanish Industry minister of José Manuel Soria vowed on Tuesday to defend his country’s interests.
Rating agency Moody's said on Tuesday that Spain's fiscal outlook remained challenging despite recently softened deficit targets. The announcement comes when the Secretary for Public administration admitted that 4.000 ‘ayuntamientos’ town councils in Spain are not financially viable.
Uruguayan president Jose Mujica promised on Monday to ‘fight to the death’ for the future of Mercosur in spite of the fact that the group’s junior members Uruguay and Paraguay are suffering the most as Argentina and Brazil implement growing hurdles to trade.
The World Bank’s new Latin America chief backed selective use of capital controls when inflows were creating asset bubbles or distorting foreign exchange markets. Hasan Tuluy, the Bank’s new vice-president for Latin America and the Caribbean, said while trade protectionism should be avoided, there was space for macro prudential measures.