Xinhua World Economic News Summary at 0430 GMT, May 10

Xinhua world economic news summary at 0430 GMT, May 10

RIO DE JANEIRO — Brazil’s state-owned oil and gas giant Petrobras on Wednesday announced a reduction of 30 percent in the price to transfer two refineries it owns in Bolivia.

According to Jose Fernando de Freitas, Petrobras’ president in Bolivia, the company offered to sell the two plants to the Bolivian government for 112 million U.S. dollars, down from the initial estimate of 160 million dollars. (Brazil-Bolivia-Refineries)

– - – -

GENEVA — Although time is limited, there is still chance for World Trade Organization (WTO) members to successfully conclude the Doha Round trade talks by the end of this year, WTO chief Pascal Lamy said on Wednesday.

“A successful outcome to the Doha Round is possible, even in the small amount of time remaining until the end of this year,” Lamy told a meeting of the WTO’s governing General Council. (WTO-Doha- Talks)

– - – -

CARACAS — Venezuela’s Telecommunications Minister Jesse Chacon said Wednesday that the nation had bought 86. 21 percent of the nation’s largest telecommunications firm in a public share purchase, and would take control of the company on May 21.

Venezuela had bought 79.62 percent of the Compania Anonima Telefonos de Venezuela (Cantv) during a month-long operation on the New York and Caracas stock exchanges, raising its total stake to 86.21 from 6.59 percent, Chacon said. (Venezuela- Telecommunications)

– - – -

BUCHAREST — The Romanian government on Wednesday decided to allocate 12 million lei (about 4.7 million U. S. dollars) for funding the infrastructure work and the utilities network of an industrial park in central county of Cluj, where Finish mobile phone manufacturer Nokia is to build a factory and research center. (Romania-Industrial park)

(c) 2007 Xinhua News Agency – CEIS. Provided by ProQuest Information and Learning. All rights Reserved.