The Inter-American Development Bank (IDB) could decide in September how much it will provide to finance the second stage of the Camisea gas project, Camisea II. Original plans called for Peru LNG to export liquefied natural gas from the US$3.3 billion to Mexico and/or the US from 2009 or 2010, although executive Del Solar said liquiefieid could be sent to Brazil first if that country pays more.US oil company Hunt Oil holds a 50% interest in the Camisea consortium, Spanish oil firm Repsol 20% and South Korea's SK Corporation 30%. The consortium also is evaluating ways that local investors such as pension funds and banks could finance the project, according to Del Solar. "We are negotiating with other multilateral entities," he said. The IDB loan could reach $400 million and the aim is to secure financing once the project's environmental audit has been completed.
As many as 300,000 Romanian and Bulgarian workers could come to Britain by the end of 2008 if the government’s policy on European immigration is mainiatined, British lobby group, Migrationwatch, claims. The group said that "substantial immigration" was to be expected if - as was the case when the first tranche of countries from eastern Europe joined in 2004 - Britain was again the only major country not to agree to "transitional arrangements".
'We believe in cooperation in the Eurasian geography. Such a cooperation will benefit all in the region,'' said Ali Coskun, Turkish Minister of Industry and Trade, today, at the 5th meeting of the ambassadors of Eurasian countries and business councils' chairmen in Ankara.'The century we are in is one where fierce competition is taking place worldwide. Commercial borders are being eradicated and the world is becoming a single market. Turkey is determined to cooperate with Eurasian countries with which it shares historical and cultural ties,'' he said.
Private investment in Ecuador totalled $739.14 million in April. $1.9 million was invested in creating 504 companies and $737.23 million in a capital injection for 93 companies, said the Superintendencia de Companias. The city of Guayaquil received 98% of the investments while Quito received the remaining 2%. Most of the investment was in services (98%). industries (1%) and trade (1%).
China's National Bureau of Statistics revealed that sales of consumer goods grew 13.6% year on year to 577.5 billion yuan in April. Sales in the hotel and catering industry amounted to 75.7 billion yuan, a gain of 15.4%. Other items to see large increases were textiles, clothing and footwear, 17.4%; cosmetics, 18.8%; household appliances, 17.6%; and furniture, 15.7%.
As of March, outstanding loans by Thai banks amounted to 5.8 trillion baht, 1.8% up from the fourth quarter of last year. The slowdown in credit is in line with sluggish investment and consumption in the first quarter of the year, amidst political turmoil, rising interest rates and skyrocketing oil prices. Credit to the agricultural sector was down 11% from the previous quarter to 86.4 billion baht, while the mining sector's borrowing was slightly down by 1.06%. Loans to the construction sector declined 5.5% and housing and consumer loans also declined 1.6%.