French auto maker Renault has plans to invest 400 million Pesos (100 million US dollars) to produce a new model geared towards the Mercosur market, Argentina's industry minister Debora Giorgi announced this week.
Argentina is promoting the idea of an OPEC-like cartel for itself, Bolivia and Chile, which together control 85% of the world's reserves of lithium, a key component in electric car batteries.
Argentina suffered a setback over its US$100 billion debt default in 2002 when New York's highest court said the country should keep paying interest on some bonds even after they mature or investors demand their principal back early.
Qatar’s leading corporation Qatargas has signed an agreement with Argentina’s government owned oil and gas company, ENARSA for the long-term supply of liquefied natural gas (LNG).
Tobacco giant Philip Morris International launched legal action this week against the Australian government over the country's plans to strip company logos from cigarette packages and replace them with grisly images of cancerous mouths, sickly children and bulging, blinded eyes.
Australian lawmakers are demanding a review of foreign investment rules to stop foreign mining companies, including those from China, buying up prime farmland.
The European Union has published its long-awaited budget, which will see spending on the Common Agricultural Policy (CAP) frozen for the next seven years and make 30% of direct support conditional on ‘greening’.
The European Commission’s request for a 5% hike in member states’ contributions in the next EU budget met immediate resistance from big countries such as Germany, France and Britain yesterday.
Brazil’s primary budget surplus exceeded expectations in May, providing additional support for the central bank in its efforts to cool the fastest inflation since 2005. The bank also revealed that net debt for May was 39.8% of GDP.
Two French food giants are locked in a battle to take over Brazil's number one retailer, Grupo Pao de Acucar. Proposals to merge Pao de Acucar with the local operations of Carrefour are opposed by rival Casino, which already has a stake in the Brazilian group.