Brazilian government managed oil and gas company Petrobras will freeze overseas investments as the company concentrates on its primary role to develop recently discovered offshore oil reserves, CEO Jose Sergio Gabrielli said Thursday.
Defence minister Nelson Jobim said that Brazil “is not a Venezuela that goes around shopping in the world’s arms supermarkets”. Brazil targets policy on technical training and technology transfer so “we can develop a sound, autonomous defence industry”, underlined the top official from President Lula da Silva administration.
Gibraltar makes an extensive contribution to the economy of neighbouring Campo de Gibraltar while it also benefits significantly from Spanish expenditure on the Rock, according to the main conclusions of an economic study published this week.
A group of 45 bankers at Britain’s Barclays bypassed potential curbs on pay and bonuses by jumping ship to set up a Cayman Islands company and manage 12.3 billion US dollars of Barclays’ most toxic debt. They will be paid at least 400 million USD over ten years.
Chilean dairy farmers requested President Michelle Bachelet to speed the implementation of the provisional safeguard clause to help contain the import of Argentine powder milk and cheese. The safeguard clause means imposing a 31% tariff on dairy imports.
The Organisation for Economic Co-operation and Development (OECD) says the global recession could cost 25 million people their jobs. This is despite recent signs that economies of its 30 member countries may be starting to recover.
World Trade Organization Director General Pascal Lamy expressed concern Wednesday about the latest move from the US President Obama administration to restrict imports of Chinese-made tires.
The United States economy has not begun to climb out of the worst recession since the Great Depression but the 'terror' that followed last year's near-collapse of the financial system is gone due in part to government intervention, billionaire investor Warren Buffett said this week in California.
British unions and employers have reacted with alarm after unemployment surged to a 14-year high prompting fresh calls for Government help for the growing army of jobless. The total now stands at 2.47 million following a 210,000 rise in the three months to July.
The Uruguayan economy performed better than expected in the second quarter of 2009, having advanced 0.5% over the previous quarter and 0.2% over the same period a year ago, according to the latest release from the Central Bank.