Foreign direct investment (FDI) in China grew 32.9% year on year in March to 12.52 billion US dollars, the Ministry of Commerce (MOC) reported Tuesday. FDI in China has increased 29.4% in the first quarter to 30.34 billion USD, MOC spokesman Yao Jian said.
China, the top holder of U.S. Treasury bonds, urged the United States Tuesday to adopt responsible measures after ratings agency Standard & Poor's cut the outlook on U.S. sovereign debt to negative.
Google Inc. said announced this week that together with two Japanese partners they will pay General Electric Co. about 500 million US dollars for a majority equity stake in the world's largest wind farm, under construction in Oregon.
Petrobras, Brazil’s state-controlled oil producer will export its first cargo from the country’s second-largest crude field to Chile in mid-May.
Uruguay’s concern with inflation risks and instruments to ‘mitigate’ its impact was underlined by the region’s representative at the IMF Monetary and Financial Committee meeting in Washington where the IMF and World Bank are holding their spring meetings.
The IMF criticized developing countries for not responding strongly enough to the surge of hot money into their markets, saying the result could be a hard economic landing.
United States Treasury Secretary Timothy Geithner said he was confident Congress would raise the country’s debt limit and that it may need to do so before a deal is reached to rein in future budget deficits.
Canadian miner Lithium Americas Corp said it plans to start building a lithium carbonate facility next year at its Cauchuri project in the Argentine province of Jujuy. The plant with a total capacity of 40,000 tons per annum is expected to start adding to the company's revenue in 2014, Lithium Americas said in a statement.
Argentina's footwear industry hopes to make 200 million pairs and export 50 million shoes as part of new strategic growth plan by 2020, according to officials at leading trade federation Camara de la Industria del Calzado (CIC).
With Brazil’s benchmark interest rate at 11.75% and prospects of further increases Latin America’s largest economy poses a challenge to economists and analysts. The answers are not only economic but also political.