A huge project involving 300 million US dollars for the exploitation of coal deposits in the extreme south Chilean Magallanes Region was officially presented in Punta Arenas this week by Energy Minister Marcelo Tokman and top officials from the two companies involved in the project.
Japanese Prime Minister Taro Aso and Venezuelan President Hugo Chavez agreed Monday to deepen ties in energy, investment and trade, with Japanese companies ready to participate in gas and crude production in the Latin American country.
An article in the latest edition of the UK national daily ‘The Guardian’ describes Gibraltar as “a miraculous survivor in these days of international financial turmoil and sweeping recession, thanks to a sinking pound and an economy that grows at a rate comparable to that of China.”
Brazil has agreed to lend 700 million US dollars to state-owned airline Aerolineas Argentinas to fund its purchase of 20 planes from Embraer in an effort to save jobs at the aircraft maker.
Uruguayan president Tabare Vazquez left China Wednesday with promises of more investments and an increase in purchases of tops, wool, pulp, meat and fisheries, according to reports from the official press released in Beijing.
German car and trucks manufacturer Daimler- Benz sold a 9.1% stake to an Abu Dhabi sovereign investment fund. The fund, Aabar Investments, will invest 1.95 billion Euros becoming the biggest shareholder.
Visiting Uruguayan president Tabare Vazquez and his Chinese counterpart Hu Jintao called Monday for “firm results” from the coming G-20 summit in London next week according to reports in the official Chinese press.
Europe’s largest paper and pulp maker Stora Enso anticipated a drop in first quarter earnings and said it is freezing the expansion of a mill in Brazil because of sliding demand for wood and fine paper used in offices and magazines.
Falkland Oil and Gas Ltd (FOGL.L), which has a farm-in-deal with BHP Billiton, said on Tuesday it expected to be drill ready by the end of the third quarter or early 2010. The announcement was made after having posted a narrower full-year pre-tax loss.
Ecuador’ government owned Petroecuador signed a transitional contract with Repsol-YPF, giving the Ecuadorian government a bigger share of the Spanish oil company’s profits for one year and paving the way for new fee-for-service deal.