President Susilo Bambang Yu-dhoyono is telling his ministers to prepare for the worst after the government recently entered into arbitration with an international mining company.
Churchill Mining (LON:CHL) said it has now filed for international arbitration in its dispute regarding the East Kutai coal project (EKCP) in Indonesia, 75 per cent owned by Churchill.
As the British telecommunications company Vodafone Group and India’s finance ministry edge ever closer to a full-blown confrontation over taxes related to Vodafone’s $11.1 billion acquisition in India, a key issue may be the India-Netherlands Bilateral Investment Treaty, signed between the two governments in 1995.
The Indian government is likely to oppose any move by Vodafone Plc to invoke the India-Netherlands Bilateral Investment Promotion and Protection Agreement (BIPA) if it is forced to cough up Rs 12,000 crore in taxes on the grounds that the investment was routed through several step down firms based in different countries and that the treaty does not cover tax disputes.
London-based hedge fund, The Children’s Investment Fund (TCI), on Monday said it will initiate legal action against the government under the provisions of the India-UK bilateral investment treaty (BIT).
On his trip to South Africa yesterday, David Cameron talked of the need to go beyond debt cancellation and aid "to make African free trade the common purpose of the continent". He lamented there has never once been "a march or a concert to call for … an African free trade area". He pointed to the need for more inter-African trade to facilitate the growth that would mean "businesses growing, new jobs on offer, families on the up, living standards transformed".
The signing of the framework deal with the European Union (EU), a prerequisite for a free trade agreement, has hit a snag given the United Kingdom’s questions as to whether some cooperation activities can be implemented.
Free-trade agreements with India and Japan could undermine the UK’s automotive industry, which employs 700,000 and accounts for more than 10 per cent of exports, the Society of Motor Manufacturers and Traders is warning.
The European Union should offer Japan a free trade deal to help it recover from the earthquake and tsunami two weeks ago, UK Prime Minister David Cameron has said.
"Before the Gaza crisis, Miliband had been inclined to support the Agreement, Saoul said, on the grounds that the Syria Arab Republic Government (SARG) had generally exhibited good behavior internationally (despite lack of progress on key issues such exchanging ambassadors with Lebanon), and that Syrian FM Muallem needed a deliverable to strengthen him with President Assad."
In early 2011, the UK government plans to announce a new trade and investment policy for the next five years. To inform this policy, it gathered perspectives at the end of 2010, on “UK trade and investment performance and potential, the role of government on trade issues, the impact of global developments, both economic and otherwise, and the course of UK trade policy.”
On Friday morning, a group of protesters invaded Britain’s Department for Business, Innovation and Skills and are demanding a meeting with Stephen Green, the new minister for trade. Calling themselves the "Big Society Trade Negotiators," they are concerned that trade negotiations between the EU and Canada, due to start in Brussels on Monday, will dramatically boost Europe’s involvement in the Canadian tar sands — the most destructive project on earth.
Anglo-Argentinean energy firm Pan American Energy has initiated arbitration against Bolivia over the nationalization of its subsidiary Chaco Petroleum by the Morales government in 2009.
A new UK government report outlines 100 business opportunities for British firms from the EU-Korea FTA
Durban-based Illovo Sugar — Africa’s biggest producer, majority-owned by British Sugar — said it plans to raise output by 50 percent to nearly 3 million tonnes in the next five years to cash in on the new tariff-free EU access.
Informed sources say that, nearly a year after Lord Mandelson stepped down as European Trade Commissioner to return to the Cabinet, he has continued to push personally for a new and quick European Union (EU) trade deal with Libya.
The United Kingdom has formally declined to release a notice of arbitration delivered by an Indian citizen under the UK-India bilateral investment treaty, explaining that it would likely “prejudice relations between the United Kingdom and an international organisation; UNCITRAL.”
British water giant Biwater cannot use an investment treaty to make Tanzania pay millions for an abrogated water privatization contract, an international tribunal ruled in July.
A British water company thrown out of Tanzania over a bungled privatisation deal has failed in its bid to win up to £10m in damages.
While government officials promise the EPAs will bring more jobs and beef market openings for Botswana, Botswana unions believe they are nothing but recolonisation of ACP countries and say ’the EU is coming back to deplete our (African) resources’.