South Korea to open trade borders to US

Source: Marketwatch
© Scanpix/AFP

South Korea ratified a free-trade agreement with US. The vote on the agreement was organized promptly to escape debates with opposition parties. The trade agreement was accepted by US lawmakers and signed by Barack Obama last month and is expected to come into force in the beginning of the next year.

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Tue, 22 Nov 2011 13:52:04 GMT

LDK Solar experiences loss

LDK Solar Co., the Xinyu City, China, producer of solar energy products reports about loss in Q3 caused by decline in sales by 30%.The loss is estimated as $114.5 million compared to net profit of $93.4 million in the same period in 2010. The demand was lower than anticipated, said Xiaofeng Peng, Chief Executive. The total sales for the year projected by the company

Tue, 22 Nov 2011 13:57:07 GMT

Brazil fined Chevron for spill

Brazilian government announced it fins Chevron, US oil company for the oil spill near Rio de Janeiro coast. The amount of fine is $28m. Chevron fully accepted responsibly explaining that it underestimated water pressure while drilling. Chevron may face more fines as investigation into the matter continues, said Izabella Teixeira, Brazilian Environment Minister.

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