Several oil companies operating in Argentina have teamed up to begin hydrocarbons explorations close to Falklands’ waters. The companies have programmed to spend 140 million US dollars in two exploratory wells for which they have contracted a special drilling vessel, according to reports in the Buenos Aires press.
Chinese Deputy Foreign Minister, Li Jinzhang, assured that China is highly enthusiastic about reaching an agreement to unlock the trade soybean oil conflict between Argentina and the Asian giant, according to Chinese media.
Britain and Gibraltar will use different legal arguments in challenging the European Commission’s decision to twice approve a Spanish nature site with British Gibraltar waters. While Gibraltar is focusing on British sovereignty of the waters, Britain itself has centred its case on the issue of control, reports the Gibraltar Chronicle.
The Uruguayan default model of 2003, under the auspices of the IMF, is a possible way out for the Greek situation according to Professor Reinhart (*), a world authority in sovereign defaults. The idea surfaced in an interview with the Telegraph.co.uk, Ambrose Evans-Pritchard who has covered world politics and economics for 25 years, based in Europe, the US, and Latin America.
US Treasury Secretary Timothy Geithner held talks Thursday in Beijing with Vice-Premier Wang Qishan. Neither the US nor Chinese officials would comment in detail on the meeting. But it is understood to be part of a long-running dispute over the value of the Chinese Yuan, which the US says has been kept artificially low.
Prime Minister Gordon Brown’s bid for a fourth Labour term received a boost this week with a forecast that the UK would pull out of recession faster than many major international rivals.
The European Central Bank (ECB) has kept the Euro zone interest rate at its record-low level of 1% for the 11th month in a row. The decision was expected and comes as the ECB is scaling back its lending to banks aimed at stimulating the economy.
Dow Jones reported that Indian-owned UK based Zamin Resources has one major iron ore project under way in Brazil and is keen on developing others in the country and neighboring Uruguay.
A landslide in a Rio de Janeiro satellite city may have killed 200 people as rains that started earlier this week continue to saturate the soil of the hilly region home to 12 million people, the state’s civil defense office said on Thursday.
Chile’s Ministry of Education has ordered an administrative and criminal investigation into the disappearance of laptops to be distributed among school children.