Jaguar Land Rover expects China to become its largest market in the next few years, according to Bob Grace, president of Jaguar Land Rover China, who said that the company aims to sell over 40,000 vehicles in China this year, which will be a significant growth of 54% over last year's 26,000 units.
The chief organiser of the 2010 Commonwealth Games in Delhi has been arrested following an investigation into allegations of corruption. Suresh Kalmadi was removed from his post in January.
G-20 Economy ministers will be meeting May 18/19 in Argentina to address commodity prices’ variations, according to Argentine sources. The meeting was agreed during the recent IMF/World Bank spring assemblies in Washington, following on Argentina’s deep concern about the “volatility” of commodity prices.
Coffee prices topped 3 US dollars a pound in New York for the first time since 1977, as prospects of another production deficit combined with a sliding dollar to encourage fund buying.
India is working on “upgrading” the tariffs agreement with Mercosur, which could translate in more items of trade being included in the Preferential Trade Agreement (PTA) or move to free trade agreement with the LATAM countries.
Former British Prime Minister Gordon Brown has been appointed as an unpaid advisor to the World Economic Forum. He is to be the chairman of a new policy and initiatives co-ordination board.
France considers Bank of Italy Governor Mario Draghi the leading candidate to succeed Jean-Claude Trichet at the helm of the European Central Bank. However the key decision maker, German Chancellor Angela Merkel, has yet to tip her hand. Merkel’s aides have indicated that Germany, Europe’s biggest economy, no longer insists on a German to succeed Trichet.
Gold advanced to a record, set for the best run since November 2006 after rising for nine days, as investors sought to protect their wealth against a weaker dollar, faster inflation and geopolitical tension in the Middle East. Silver climbed to a 31-year high.
The head of the World Trade Organization warned the decade-old Doha Round talks on a new global commerce deal involving billions of dollars are at serious risk because of differences over cutting tariffs on industrial goods.
Security forces have reportedly shot dead at least three people and injured others in north-west Syria, days after the worst bloodshed since unrest began. Police and soldiers opened fire from rooftops in the coastal town of Jabla, though no protest was being held at the time, witnesses said.