Chinese businesses booming in Italy
ROME: Chinese businesses are booming in Italy, where their numbers rose 26 percent from 2008 to 2011, but they face criticism for harming local industry and violating workers' rights, a study said on Saturday. At the end of 2011, Italy had 58,238 Chinese-owned businesses, concentrated especially in the retail, manufacturing, and hotel and restaurant sectors, said the study published by the CGIA business association, which got its figures from the country's chambers of commerce. The number of Chinese businesses rose 7.7 per cent in 2010-2011 alone, and Chinese nationals in Italy sent 7.87 billion euros (US$9.7 billion) back to China during the four years from 2008 to 2011, the study found.
Greece must remain in eurozone: Minister
ATHENS: Greece must remain in the eurozone, Finance Minister Yannis Stournaras said in an interview published yesterday ahead of a week of crucial meetings between the prime minister and EU officials. "We have to stay alive and remain under the umbrella of the euro, because that is the only choice that can protect us from a poverty that we have not experienced," Stournaras told the Vima tis Kyriakis weekly. The Greek government needs to cut spending by about 11.5 billion euros (US$14.2 billion) in 2013-14 to qualify for the next installment of its EU-IMF bailout package.
Cuba plans to expand ostrich farming
HAVANA: The Cuban government plans to expand ostrich farming across the country to boost local economy and exports. Ostrich is considered the latest livestock introduced into the island country, with farms now existing in the provinces of Havana and Granma. The Ministry of Agriculture is planning to establish six more farms in other provinces, with the goal to supply the domestic and international markets, the state news agency Prensa Latina reported. The first flock of ostriches were imported to Cuba from Mexico by CENPALAB in 1997.
Brazil shows booming general aviation sector
SAO PAULO: A major air show in Sao Paulo this week turned the spotlight on the robust health of Brazil's general aviation market, which is thriving despite the global economic slowdown. General aviation, which makes up the majority of the world's air traffic, refers to all flights other than military and scheduled airline passenger and cargo flights. The category, made up mostly of small planes, covers corporate travel, private flying, flight training, air ambulance, police aviation, aerial firefighting, air charter, and bush flying. Agencies
Monday, August 20, 2012
Feel free to comment on this article using your Facebook account. By submitting your comment, you agree to the Terms and Conditions for the use of this comments feature, as stated here.