The world's trading nations are succumbing to protectionism in the wake of the global financial crisis, limiting exports of food and raw materials and installing new import barriers, the WTO warned.
China posted a smaller-than-expected trade surplus in May of 13.1 billion US dollars because of soaring imports and weaker global demand growth. Sales to the US and the European Union slumped to their weakest since late 2009, excluding Lunar New Year holidays, underlining the view that the world economy is stumbling.
By Antonio Tajani - The challenges and opportunities in Latin America are dear to my heart. This is the first time in many years that a European Commissioner for industry heads to the region. And it is not by chance that I strongly wished to go, as this was a priority set in my new mandate.
As the volcanic ash cloud begun dissipating airlines operating from the airports of Buenos Aires, Montevideo, and the south of Brazil resumed some flights Friday afternoon but it will take several days to be back to normal as companies reprogram backlogs.
The impact of the volcanic ash is straining the Falkland Islands air links with the United Kingdom forcing the rationing of seats for northbound passengers because of the repeated cancelling of the airbridge with Brize Norton.
Lucky week for Brazil’s Petrobras that announced major oil and gas discoveries in the US Gulf of Mexico and off the coast of Spirito Santo in Brazil.
In anticipation of Uruguay Oil Round II, scheduled for next September, Singapore based Reflect Geophysical Pte Ltd announced the completion of the survey for the acquisition of geophysical data in the Uruguayan offshore, through the seismic vessel R/V Reflect Aries.
Uruguay, most of Argentina, the south of Chile and even the Falkland Islands is the South Atlantic are suffering the consequences of the volcanic ash cloud that remains hovering over the region forcing airlines to cancel flights until further notice.
China Vice-President Xi Jinping arrived in Chile Thursday to forge closer ties with the nation that has branded itself as China's gateway to Latin America.
Visiting Chinese Vice-President Xi Jinping signed Wednesday in Uruguay 17 cooperation agreements and trade contracts for the purchase of 530 million US dollars in Uruguayan goods before leaving for Chile the third leg of his tour of Latin America.