Bahrain's leading telecom services operator Batelco Group has appointment Muna Al Hashemi as its new deputy chief executive officer. Having joined Batelco as a trainee graduate in 1994, Al Hashemi held several key roles in Batelco’s various divisions before being appointed as CEO of Batelco Bahrain in August 2015, said a statement from Batelco.
Russia and Venezuela signed a debt restructuring deal on Wednesday allowing Caracas to make minimal payments to Moscow in the next six years to help it meet obligations to other creditors, the Russian Finance Ministry said. Under the deal, Venezuela will pay Russia back a total of US$ 3.15 billion over a 10-year period, the ministry said.
China and Chile have agreed to upgrade their free trade agreement (FTA), a move that will boost both economies, a former official of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) said.
International energy markets are set for major upheaval as the US cements its status as the world's largest oil and gas producer, while China overtakes it as the biggest oil consumer. The predictions come from the International Energy Agency's annual energy forecast.
Argentina's Acindar steelmaker is currently working at 70% of its installed capacity, which is 1.7 million metric tons of crude steel and 1.4 million mt of finished steel. In 2016, Acindar produced 962,000 mt of steel products. Expectation for 2017 is that it will reach 1.1 million mt, resuming good levels for the company.
Argentina's state-run oil company YPF is disappointed by cuts to the government's natural gas production subsidies and will re-allocate investment toward crude oil production.
President Donald Trump has said he does not blame China for the “unfair” trade relationship between the countries, despite long railing against the economic imbalance. Speaking in Beijing, he gave China “credit” for working to benefit its citizens by taking advantage of the US.
Brazil’s Petrobras on Tuesday revealed plans to sell its stake in an African oil exploration venture as part of a wider divestment plan. The state managed oil company is looking to sell its 50% stake in Petrobras Oil & Gas BV, or Petrobras Africa.
Finland's UPM and the Government of Uruguay have signed an investment agreement, which outlines the local prerequisites for a potential pulp mill investment. The agreement details the roles, commitments and time-line for both parties as well as the relevant items to be agreed prior to the final investment decision, reported the Finnish company in a release on Tuesday.
Chinese grains trader COFCO International has agreed to sell its crop seeds business to Swiss-based Syngenta AG as it overhauls its activities following a series of major overseas acquisitions The deal to sell Nidera Seeds, which operates in Latin America, was announced by COFCO International and Syngenta in a statement on Monday.