Venezuela’s socialist government has hit on a new key sector – mining. On 29 February Venezuela’s planning minister, Ricardo Menéndez, held a meeting in Beijing with the president and the vice-president of China’s National Development and Reform Commission, Xu Shaoshi and Ning Jizhe, respectively, to discuss the prospect of Chinese cooperation in various economic sectors as part of the Caracas government’s plans to revitalise domestic productive economic activity. In an official statement, Menéndez said that he had discussed Chinese participation in sectors including pharmaceutical, industrial, petrochemical, hydrocarbons and mining. Menéndez said that attracting Chinese investment was part of the “government’s…
World energy markets are going through a major upheaval. The volatility of hydrocarbons prices, coupled with concern over the environmental impact of burning fossil fuels, is highlighting the need for countries to deliver secure, affordable, and sustainable energy. It seems that in the race to do that, some big economies (the US, Japan, Germany) are lagging behind. According to a report by the World Economic Forum (WEF), some smaller ones (Norway, Switzerland) are ahead. Latin America has two star performers in the ‘top ten’ ranking: Colombia and Uruguay. In March, the World Economic Forum (WEF), in partnership with consultancy Accenture,…
Marcelo Odebrecht sentenced: Marcelo Odebrecht, former president of Odebrecht SA, Latin America’s largest construction and civil engineering company, has been sentenced to 19 years imprisonment by a Brazilian federal court. The sentence was for his part in the bribery, money laundering and organised crime charges brought against the company, which was found to be a participant in the lava jato (‘carwash’) scandal that engulfed the state-run oil company Petrobras. Marcelo, 47, is the grandson of the late Norberto Odebrecht, the founder of the company, known across Latin America for its involvement in large-scale building projects. Odebrecht’s lawyer, Nabor Bulhoes, said…
For the many governments of Caribbean countries and territories looking to boost in-bound tourism, the US is by far the largest market. Geography dictates that US tourists can get to these destinations either by sea (often as cruise passengers who do not necessarily stay overnight) or by air (in which case, the tourists are often more valuable because they stay several days). This begs a question as to what a government of a Caribbean tourist destination should focus on in negotiations with international airlines Researchers at the IMF have looked at the relative importance of four factors: the number of…
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