India plans oil bonds
The Indian Petroleum Ministry has suggested the issue of oil bonds to compensate for the slow recovery of domestic oil companies. The bonds, worth some INR 120 billion, would have a 3-5 year maturity and a 7% interest rate.
The cabinet has also cleared the way for allowing 74% foreign investment in basic and mobile phone service companies.
Kudrin pushes bank law
The Russian cabinet on Thursday gave its approval to a draft version of a law setting minimum capital requirements for banks at Eu 5 million in a move amied at weeding out so-called 'pocket banks'.
Argentina and Russia refine trade agreement
Argentina and Russia are working on the last details of an agreement which aims to triple exports to Russia in the next five years.
Chavez confirms nuclear agreement with Argentina
Venezuelan President Hugo Chavez confirmed he is seeking to reach a nuclear cooperation agreement with Argentina. He is said to be in talks with Brazil too, and was swift to stress the deal's 'peaceful aims'.
Chile-China free trade agreement expected in June 2006
Negotiators from Chile and China are close to reaching an accord to give a provisional date to the free trade agreement (FTA) currently under discussion.