ExxonMobil, the US oil company, withdrew from Venezuela 20 years ago. According to sources close to the matter, the firm is in talks with the government of the South American nation to obtain licenses and contracts to operate six oil fields.

According to meetings between the parties, an agreement for the oil company’s return to Venezuela could be reached this May.

The company has been cautious regarding any negotiations since January 3, when it referred to Venezuela as a “non-investable” country.

However, with the passage of time, and thanks to the licenses granted by Donald Trump to the hydrocarbon sector, ExxonMobil seems willing to reconsider potential exploration opportunities in Venezuela.

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La entrada ExxonMobil negotiates return to Venezuela apareció primero en Bitfinance.

The new U.S. Chargé d’Affaires in Venezuela, John Barrett, arrived in Caracas last Thursday, April 23, to assume his duties following the departure of Laura Dogu.

Upon arriving in Venezuela, the diplomat reaffirmed his commitment to advancing the agenda of the Donald Trump Administration and Venezuela’s interim president, Delcy Rodríguez.

He described the work as an honor, aimed at strengthening the good relations between both countries.

 

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Una publicación compartida por Embajada de los EE.UU. en Caracas (@usembassyve)

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La entrada John Barrett arrives in Caracas for a new phase of negotiations apareció primero en Bitfinance.

The application of Donald Trump’s tariffs on China was extended for another 90 days after the President of the United States signed the corresponding executive order on Monday, August 11.

Trump’s decision follows the last round of talks between the parties, held in late July in Stockholm, Sweden. Meanwhile, negotiations between the two powers continue.

“The Chinese Ministry of Commerce confirmed the extension and, shortly before Trump’s executive order, had stated that it expected efforts by the United States to achieve a positive outcome based on equality, respect, and mutual benefit.”

Talks between Trump and his counterpart, Xi Jinping, began with the initial announcement of tariffs on China, with the goal of achieving a favorable outcome for bilateral trade relations.

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La entrada Trump extends China tariffs deadline by 90 days apareció primero en Bitfinance.

China, Japan, and South Korea, the three largest Asian economies, are accelerating negotiations for a free trade agreement that will allow them to address Donald Trump’s tariffs and their consequences.

The ministers of the three nations in charge of industry and trade met in Seoul to expedite negotiations to address the effects of tariffs on “products such as vehicles, trucks, and auto parts.”

This meeting, attended by South Korean Industry Minister Ahn Duk-geun, his Japanese counterpart, Yoji Muto, and Chinese Commerce Minister Wang Wentao, led to the creation of “a predictable business and investment environment,” according to a joint statement.

A trilateral free trade agreement will serve as a mechanism to address shared global challenges through joint collaboration.

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La entrada China, Japan, and South Korea accelerate free trade agreement negotiations apareció primero en Bitfinance.

This Tuesday will be the meeting scheduled by the Kremlin between the delegates of Russia and the United States in Riyadh, Saudi Arabia, to begin negotiations that will end the war with Ukraine.

The envoys of each country will discuss crucial issues such as “the normalization of bilateral relations, preparations for a summit between the presidents of both countries and future peace negotiations on Ukraine.”

The Russian presidency indicated that the head of government, Vladimir Putin, will be represented at this meeting by Foreign Minister Sergei Lavrov and presidential adviser Yuri Ushakov.

Representing the United States, US Secretary of State Marco Rubio is already in Riyadh, who could be accompanied by other officials from Trump’s cabinet such as national security adviser Mike Waltz and the White House envoy for the Middle East, Steve Witkoff.

For his part, the president of Ukraine, Volodymyr Zelensky, is in the region, having arrived in the United Arab Emirates this Sunday.

The eyes of the world will be on this first meeting to end the conflict between Russia and Ukraine that began in 2022.

 

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Negotiations between El Salvador and China to establish a free trade agreement that benefits both nations are progressing positively.

The president of the Central American nation, Nayib Bukele, had already announced in 2022 that the country would begin talks with China for an FTA.

After his re-election for a new term, until 2029, Bukele has highlighted the help that the nation has received from the Asian country in recent years through “million-dollar non-refundable cooperation from the Asian giant, mostly in infrastructure projects,” such as the library built in the capital.

The FTA is one of El Salvador’s priorities currently. Relations with China were established in August 2018.

The Salvadoran vice president, Félix Ulloa, declared last week his desire to “find an ally in his economic growth projects, through tourism, renewable energy and technology.”

For her part, the Minister of Economy of El Salvador, María Luisa Hayem, indicated last week: “I am pleased to recognize that this is one of the most ambitious and complete negotiations that El Salvador has undertaken in recent years,” said the Minister of Economy of El Salvador, María Luisa Hayem.”

The FTA between both nations, one called the Asian giant, and the other the “Little Thumb of the Americas”, seeks to reduce costs in areas such as vehicle imports, in addition to reducing dependence on this market on the United States.

Likewise, a China-El Salvador trade pact will open a route for Salvadoran products to the Asian country, “especially items such as coffee, sugar and aluminum waste, which local businesses and producers have considered very positive.”

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La entrada El Salvador and China negotiate a free trade agreement apareció primero en Bitfinance.

The lack of continuity in the collaboration between Universal Music Group (UMG) and TikTok resulted in the withdrawal of more songs from the social video network. This also applies to songs created by composers hired by the American record label.

At the end of January, UMG and ByteDance had expired to renew the partnership that allowed TikTok users to use songs by artists such as Taylor Swift or Bad Bunny in their videos.

This lack of agreement has now extended to all songs that have been written or co-written by a composer who has signed with Universal Music Group. The social network reported this in a statement posted on Twitter.

From TikTok Communication, they assure that they follow the label’s request to remove all their songs from the platform. In addition, they point out that these actions not only affect the composers and artists they represent, but also impact many artists and composers who have not signed with Universal.

The Chinese company says it is working with UMG to “achieve a fair deal.” Meanwhile, users of your social network can enjoy, discover and share millions of tracks from artists, composers and labels.

The end of the collaboration between the two companies is due, according to Universal Music in January, to the negotiations they held on some “critical” issues for the renewal of the contract. These include appropriate compensation for its artists and composers, protection of human artists from the harmful effects of AI, and online safety for TikTok users. However, so far, the companies have not reached an agreement.

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La entrada TikTok’s negotiations with Universal Music were not positive apareció primero en Bitfinance.

Nicolás Maduro, president of Venezuela, is planning a visit to Russia before the end of 2023, as indicated this Tuesday by the Kremlin’s international advisor, Yuri Ushakov.

The last visit of the Venezuelan president to Russia occurred in 2019, in the midst of a situation of protests in the South American nation, in addition to hyperinflation and a humanitarian crisis.

On this occasion, Maduro is expected to discuss strategic issues with Russian President Vladimir Putin, who has been his ally in economic and political matters, particularly in the case of United States sanctions.

Although no details have been given about the date of this visit by Nicolás Maduro to Russia, it is expected that the announcement will be made in the coming days. “The Kremlin advisor did not rule out that the Venezuelan president visits other Russian cities in addition to Moscow.”

Ushakov added: “December is a difficult month, also from the point of view of domestic politics, however, important international contacts also fit in.”

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La entrada Maduro will visit Russia before the end of 2023 apareció primero en Bitfinance.

During next week, at the summit to be held in Brazil, the leaders of the Southern Common Market (Mercosur) will formalize the long-awaited free trade agreement with Singapore, reached in 2022. In addition, negotiations with the Dominican Republic and El Salvador will be announced, while Talks with the European Union (EU) persist.

The director of Economic Affairs of the Brazilian Foreign Ministry, Mauricio Lyrio, pointed out in a press conference that negotiations with the EU continue steadily, with significant progress during the Brazilian presidency of Mercosur. The agreement with Singapore will be signed on December 7, marking a milestone at the meeting of the bloc’s presidents.

Lyrio confirmed that on the same day, the start of negotiations for free trade agreements with the Dominican Republic and El Salvador will be announced. Despite the efforts concentrated on concluding the agreement with the EU, he admitted that some points are still pending, requiring intense work until the deadline of December 7, when Brazil will hand over the semi-annual presidency of Mercosur to Paraguay.

The Paraguayan president, Santiago Peña, has set that day as the limit for negotiations with the EU. If an agreement is not reached, his government will prioritize the search for new agreements with other blocks or countries. Negotiations between the EU and Mercosur, which began in 1999 and reached consensus in 2019, have faced obstacles, especially on environmental issues and public procurement.

The Semiannual Mercosur Summit, which will begin on December 6 with the meeting of Ministers of Economy and Foreign Affairs, will mark the farewell of the Argentine president, Alberto Fernández, who will transfer power on December 10 to the winner of the elections, the far-right Javier Milei, who will not be present at the Mercosur summit.

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La entrada Mercosur will sign an important agreement with Singapore apareció primero en Bitfinance.

Philippines and South Korea ratified this Thursday the Free Trade Agreement reached in June 2021 after two years of negotiations and have put an end to the legal procedure necessary for its implementation.

The South Korean Ministry of Industry has indicated in a statement that the agreement “will serve as the foundation for future cooperation with a key country in Southeast Asia in fields such as the automotive, cultural, health and commercial fields,” among others.

For his part, the President of the Philippines, Ferdinand Marcos Jr., known as Bongbong Marcos, has confirmed the signing of the agreement and has described the country’s participation in the summit as “successful”.

Thus, he thanked Indonesia for its “warm hospitality” and stressed the importance of the Association of Southeast Asian Nations (ASEAN), which has allowed member countries to exchange views on issues of food security, climate change and digital economy, among others.

The Philippine president has stressed the importance of finding “peaceful solutions” to current disputes in the region and has defended freedom of movement in the South China Sea, where he has urged “to avoid miscalculation.”

The signing took place during a meeting between the South Korean Trade Minister, Ahn Duk Geun, and his Philippine counterpart, Alfredo Espinosa Pascual, on the sidelines of the ASEAN summit, which is being held in Jakarta, the Indonesian capital. The pact is scheduled to enter into force during the first half of next year.

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La entrada Philippines and South Korea sign trade agreement to boost their bilateral relations apareció primero en Bitfinance.