Magna and its Russian partner Sberbank have reached agreement in principle with General Motors management over a contract to buy 55% of GM's European unit Opel, Magna's co-CEO Siegfried Wolf told reporters.
The Economic Times from Mumbai published on its online edition an article informing that Indian government owned energy company ONGC Videsh Ltd and its overseas investment branch, OVL, is having conversations with three Russian companies -Rosneft, Lukoil and Gazprom- for acquiring a substantial stake in YPF, the Argentine arm of Spanish oil major Repsol YPF SA.
Annual profits at mining giant BHP Billiton have more than halved after demand for commodities slumped. The company has more than 100 operations across the world, including South America and the Falkland Islands.
General Motors officially unveiled the Volt, which according to the company can travel up to 40 miles on a single battery charge. The car will likely start production later this year. According to GM, the Volt will get city fuel economy of at least 230 miles-per-gallon, and come packaged with a flex fuel-powered engine-generator. The range of the Volt will be 300 miles, GM said.
This article explains trends in hotel development models and patterns throughout Central America, as well as identifies the countries within the region offering the greatest potential for hotel development.
A third operator could be joining Lan and Sky Airline in cargo and passenger traffic between Santiago de Chile and Punta Arenas, according to an official request presented before Chile’s Civil Aeronautics Agency last July 24, reports La Prensa Austral.
United States is prepared to provide up to 10 billion US dollars in loans to finance the development of massive hydrocarbon reserves off Brazil’s coast, revealed Brazil’s Planning Minister Paulo Bernardo da Silva.
Brazilian government controlled Petrobras entered the Chilean fuel distribution market in Chile with the inauguration Tuesday of a service station in Santiago. The company paid 400 million US dollars for US-based Exxon-Mobil’s stake in Esso Chile Petrolera and other units in the Andean nation and has targeted a 20% share of the market.
In a nod to the luxury cruiser industry, Chile’s government says it will invest more than 180 million US dollars to improve and expand tourism infrastructure to convince foreign travellers to visit the country.
Most of the 9.5 tons of gold and silver (valued in 20 million US dollars) that went down in the South Atlantic off the Argentine coast on board a converted Chilean trawler have been recovered by a rescue mission contracted by the insurers of the cargo, reports the Argentine press.