| Brazil antitrust body OKs Mittal-Arcelor merger
RIO DE JANEIRO, March 28 (Reuters) - Brazil's anti-trust watchdog, Cade, approved on Wednesday, without restrictions, last year's mega-takeover of steel company Arcelor by Mittal Steel in terms of its impact for the Brazilian market. Cade, or the Administrative Council for Economic Defense, said in a statement published on its Web site the deal that formed the world's largest steelmaker, Arcelor Mittal (MT.N: Quote, Profile, Research), did not bring unfair competition risks for Brazil. Cade has no power to block the global deal, but it could have applied restrictions in what affects Brazil. Antitrust authorities in the European Union, the United States, Canada, China and several other countries have already approved the takeover. While the Brazilian anti-trust watchdog has no problems with the giant steelmaker, the company has said it will consider going to court if it cannot find an agreement with securities regulator CVM on the price to buy out minority shareholders of its local unit, Arcelor Brasil (ARCE3.SA: Quote, Profile, Research).
Time tight for global trade deal
Listening to the optimistic rhetoric of world leaders from George W. Bush to President Luiz Inacio Lula da Silva of Brazil, it would be easy to assume that after more than five years of fractious talks a global trade deal, giving poor countries a fairer chance to compete in world markets, is within reach. But away from the razzle-dazzle of Davos, where World Trade Organisation director-general Pascal Lamy announced the official relaunch of the much delayed Doha round of talks, negotiations are slow and time is tight. Britain, the US, and other countries keen on a resolution are engaged in a round of behind-the-scenes diplomacy, putting pressure on key players, in particular Brazil and India, to compromise. On his recent visit to India, the British Chancellor, Gordon Brown, took the opportunity to impress on his hosts the importance of reaching a deal.
Bolivia, Brazil reach accord over gas price
BRASILIA (AFP) - The presidents of Brazil and Bolivia have reached an agreement in their dispute over Bolivia's demands for Brazil to pay more for its natural gas. Brazilian President Luiz Inacio Lula da Silva met for several hours with his Bolivian counterpart Evo Morales in Brasilia, where they reached a "very satisfactory" agreement, said Lula's foreign affairs adviser, Marco Aurelio Garcia. Details of the deal will be unveiled Thursday, Garcia said. A Bolivian diplomatic source confirmed that a deal was struck and said it includes a price adjustment, which Brazilian officials refused to confirm. Bolivia supplies about half the natural gas consumed by Brazil. Their dispute over prices has lasted more than a year. Morales insists the gas is sold far too cheaply and that Bolivia, South America's most impoverished nation, could not continue "subsidizing" its giant neighbor.
Gran Bahia Principe hotel officially opens
Prime Minister Portia Simpson Miller yesterday opened Jamaica's newest resort, the Gran Bahia Principe at Pear Tree Bottom in Runaway Bay, St Ann, amidst a lingering drizzle said by some to be showers of blessings. The resort, the first phase of which was recently completed and opened for operation last December, is a pictorial splendour and appeared a far cry from the controversy that dogged it since former Prime Minister P J Patterson broke ground for its construction in October 2005. .
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