South Korea and Bolivia have agreed to jointly develop a copper mine in the Andean highlands estimated to have at least 15 million tons of the natural resource, according to a government release from La Paz and Seoul.
Brazil's second largest steelmaker this week confirmed last September's pledge to invest 9 billion US dollars over the next four years, revealing plans to plow 5.25 billion US dollars into mining, steel and cement projects in Minas Gerais state over the next six years.
The European markets fell for the consecutive third day on Wednesday after European Central Bank President Jean-Claude Trichet signaled that faster inflation will prevent policy makers from cutting interest rates to ease the continuing crunch in the credit markets.
Ireland wants an immediate ban on Brazilian beef imports into the European Union due to concerns that the country's produce does not meet the standards of the bloc, Irish farm minister Mary Coughlan said on Wednesday.
United Nations Secretary-General Ban Ki-moon today looked back on his busy first year in office, which took him to nearly 40 countries or territories on six continents to push for progress in four main areas – UN reform, climate change, human rights and the Millennium Development Goals (MDGs), and international security
Brazil's GDP is forecasted to expand 5.2% in 2007, up from the original 4.5%, said the Applied Economics Research Institute, IPEA, an office from the Brazilian Executive. The quarterly report indicates that the industrial sector is estimated to grow 6% this year, up 0.8 percentage points above the first estimate.
The Bank of Japan has kept interest rates on hold at 0.5% amid worries over the global credit crisis and dips in domestic business confidence. The expected move came as the central bank revised down its economic growth forecast for Japan for the year to March 2008.
China's People's Bank (central bank) has raised interest rates for the sixth time this year, adding to its efforts to cool the country's surging inflation. The benchmark lending rate will rise to 7.47% from 7.29% with effect from Friday, while the main deposit rate will increase to 4.14% from 3.87%.
The United Kingdom's position on Gibraltar's territorial waters was made clear in unequivocal terms to a group of MPs charged with scrutinizing British foreign affairs, it has emerged, reports the Gibraltar Chronicle.
Argentina's Congress criticized the United States on Wednesday over an alleged cover-up involving a cash-full suitcase that U.S. prosecutors say was bound for President Cristina Fernandez de Kirchner campaign.