A consortium made up of Brazil’s state-run oil firm Petrobras, Shell, Total, and Chinese companies CNPC and CNOOC has won a production license for the offshore Libra oilfield. The 35-year license to the deep-sea field–which is thought to be rich enough to potentially double Brazil’s oil reserves–was auctioned off by Brazil’s National Petroleum Agency. The consortium […]
Afghanistan introduces new incentives for foreign investors
Amid an uncertain peace process and the gradual withdrawal of US and NATO forces, Afghanistan’s government has announced a set of measures intended to woo foreign investors to the country, according to Al Jazeera. The incentives include providing land at almost no cost to industrialists, seven-year tax exemptions for factory owners and 10-year, low-interest loans […]
Afghanistan agencies reform business licensing process
The ministries and agencies responsible for regulating businesses in Afghanistan say they have “streamlined” the registration and licensing process, reducing the time it takes for Afghan businesses to obtain licenses from one month to two days, according to TOLO News. Muzammil Shinwari, the Deputy Minister of Commerce and Industries, said that with the implementation of […]
Foreign direct investment on the rise in Arab states
According to the Arab Investment and Export Credit Guarantee Corp, foreign direct investment in the Arab states (minus Syria) rose almost 10 percent from 2011 to 2012, though total investment is still significantly lower than it was in 2010, before the outbreak of popular uprisings in several Arab countries. The four nations that underwent revolutions in […]
Turkey’s economic growth at risk
In a recent article for Foreign Policy, Aaron Stein wonders whether the ongoing mass protests in Turkey could exacerbate an already worrisome economic situation. According to Stein, Turkey’s unique approach to weathering the global recession, paired with a decrease in direct foreign investment, has made the country overly dependent on short-term speculative capital flows. If the […]
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