India will keep a controversial ban on its cotton exports for now after ministers failed to agree its fate at the weekend, even after top buyer China had criticised the move, which boosted global prices.
China has announced it will increase defense spending by 11.2% in 2012, for the first time taking its annual military expenditure beyond 100 billion dollars as it puts in place plans to modernize its Army against the backdrop of an uncertain regional environment.
The Brazilian subsidiary of automaker Ford has unveiled a new version of its EcoSport SUV and says it will be sold in close to 100 countries. The car was introduced Wednesday in the Brazilian capital and at the Auto Expo show in New Delhi.
The potential of India for Latinamerican exports and investment opportunities was underscored during the presentation of a report “India and Latin America and the Caribbean, opportunities and challenges in trade and investment relations” sponsored by the UN Economic Commission for Latin America and the Caribbean, ECLAC.
In an attempt to accelerate talks on a trilateral free trade agreement (FTA) , the India-Brazil-South Africa (IBSA) summit decided to hold an annual meeting of trade ministers from the three countries beginning from March next year.
China is losing its edge as the world's cheapest place to manufacture goods, a new report suggests. Indonesia and Bangladesh are benefiting most as rising costs in China force firms to switch production, it says.
India and Uruguay signed this week a Double Taxation Avoidance Agreement (DTAA) for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and capital.
Global proven oil reserves rose by 0.5% in 2010, boosted by increases in Brazil, India and Russia, according to British Petroleum. Deposits advanced to 1.3832 trillion barrels at the end of last year from a revised 1.3766 trillion in 2009, BP said in its annual Statistical Review of World Energy.
China will be able to avoid a financial crisis that is due to hit other developing countries over the next five to 10 years a central bank adviser was quoted as saying on Saturday.
Brazil’s Vale, the world’s largest iron ore producer, posted a record quarterly profit as mineral prices and sales of metals including copper and nickel surged. Net income increased to 6.83 billion USD from 1.6 billion, in the year-ago period, Vale announced Thursday in a regulatory filing.