Poultry producer Farmio plans Warsaw debut
News from Emerging Markets
Turkey is not only a large importer of energy, but a bridge between resources and markets, the president of BP Turkey, Bud Fackrell, said Friday. "Turkey has been a regional energy hub for years," Fackrell said, speaking at the conference "International Platform for Young Entrepreneurs" in Istanbul, organized by Istanbul's Bilgi University.
Russian oil major Rosneft has acquired a license for exploration and development of the Vostochno-Tokaisky subsoil site in Western Siberia, the company said in a statement. Rosneft paid 1.34 billion rubles for the license, which expires in 2039. The reserves of the site stand at 2.623 million tonnes of oil under C1 category.
If the sharp drop in global oil prices seen in recent weeks continues, it's generally agreed that Latin America's primary net exporters Venezuela, Mexico, Brazil and Colombia will be hit hardest. The outlook for Southern Cone nations Chile and Argentina is less dire, but also less clear, according to a report by Bank of America Merrill Lynch .
The government has estimated investments of P768.81 billion to implement 114 core strategic projects over the next two years with the infrastructure program having the biggest share of 82.7 percent or 635.84 billion, according to the National Economic and Development Authority (NEDA).
The ruble has lost more than 16 percent of its value against the dollar over the last three months, and the Central Bank has spent over $15 billion of its foreign reserves to defend it.
Hong Kong expects to have a free trade agreement with Asean economies in place by 2016, government officials said yesterday as they sketched out a timeline for progress on trade talks that began in July.
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