China has experienced its first defeat at the World Trade Organization (WTO), in a case referred to restrictions on the importation of foreign-made car parts. Upholding a complaint from the European Union, Canada and United States, the preliminary WTO finding agrees that current Chinese practice is protectionist.
An ambitious multi-field aquaculture project in the Falkland Islands has successfully concluded its first stage and is ready to continue advancing. However Dr. Brendan Gara, Aquaculture Development Manager at the Development Corporation is leaving after having spent two years in the Islands.
Mining exploration in Argentina expanded 21% in 2007 over 2006 with a record 600.000 meters drilled reported in Buenos Aires the Mines Secretariat. Looking back to 2003, exploration activity soared 265% and investments 748% reaching 1.7 billion US dollars.
Germany was the world's leading exporter for the fifth year running in 2007, staving off a challenge from fast-growing China despite the impact of a strong Euro on its competitiveness. German exports reached 969 billion Euros, 1.4 trillion US dollars in 2007, up 8.5% from 2006, according to Germany's Federal Statistics Office in Weisbaden.
Chilean brewery Austral from Punta Arenas has announced it will begin exporting to the United States, Mexico and England. The company will market its premium Calafate, Yagun and Patagonia brands in select locations.
Rio Tinto, one of the world's largest mining firms rejected on Wednesday a sweetened mega merger bid from BHP Billiton worth 147 billion US dollars. If the two companies had merged, a company would have been created that controlled one third of the world's iron-ore market.
The head of the Chinese company that recently bought a chunk of mining giant Río Tinto said yesterday it was a strategic investment, and hinted his company would consider selling to BHP Billiton if the price was right.
On 1 February 2008 the contract between Falkland Islands Government (FIG) and Cable and Wireless South Atlantic Ltd (C&W) was signed thereby confirming that work will proceed on the installation in Camp of a new and modern telephone service, offering Broadband. The installation is expected to be complete by April/May 2009.
Concerns about wind turbines interfering with military radar are threatening ambitious Government plans of £ 200 million windfarm development.
China has teamed up with US aluminum giant Alcoa to buy a 12% stake in Anglo-Australian miner Rio Tinto for 14 billion US dollars. The state-owned Aluminum Corp of China (Chinalco) said the purchase was the largest Chinese investment overseas.