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Reuters
04-07-2025
- Politics
- Reuters
Bolivian congress brawls over China, Russia lithium deals
LA PAZ, July 3 (Reuters) - Bolivia's energy minister was doused with water and pelted with garbage on Thursday as chaos erupted in congress during a debate on controversial lithium contracts with Chinese and Russian firms that could bring in investments worth some $2 billion. It was the latest outburst of growing tension over Bolivia's efforts to fast-track foreign investment to exploit its lithium reserves, which are among the largest in the world. Opposition lawmakers and others loyal to former President Evo Morales disrupted the lower house session that targeted Energy Minister Alejandro Gallardo as he tried to defend the pending contracts. "They are trying to swindle us," said opposition lawmaker Daniel Rojas, one of those opposing the contracts they say are unfavorable to the state, and demanding that profits for Bolivia be secured before the lithium is sold. Thursday's session devolved into scuffles, with lawmakers pushing, shouting and throwing stacks of paper at congressional leaders. Video images showed an opposition lawmaker, Maria Salazar, tussling with another member, while a lawmaker later tore away an umbrella from a chamber leader using it to try and bat away the barrage. Legislators and civic leaders from the mineral-rich Potosi region, home to Bolivia's vast lithium deposits, joined the protest. "We warn (President) Luis Arce, (and) the leader of the lower house, if you continue insisting on this illegal and unconstitutional process, you will be met with a mobilized population," said opposition lawmaker Lissa Claros. Protesters said they feared the deals would not benefit local communities and would cause environmental damage. "We want conditions so that the local people ... can have a dignified life," said Alberto Perez Ramos, president of the Potosi Civic Committee (COMCIPO). "The government isn't interested in that; the government is only interested in its own pockets."
Travel Daily News
10-06-2025
- Business
- Travel Daily News
Jalisco boosts tourism sector with historic hotel investment
Jalisco announces $1 billion hotel investment through 2028, adding 4,578 rooms to boost tourism growth ahead of the 2026 FIFA World Cup. DestiNEW YORK, NEW YORK – Signaling sustained economic growth in Jalisco and its emergence as Mexico's investment hub, Governor Pablo Lemus Navarro this week announced a historic $1 billion investment in new hotels aimed at strengthening the state's tourism sector. Private investors will allocate more than US $1 billion between 2025 and 2028, adding 4,578 rooms to the state's hotel capacity. A total of 38 new hotels will be built across the Guadalajara metropolitan area, Puerto Vallarta, Costalegre, and other key destinations. 'The tourism sector will be a fundamental pillar of economic growth in Jalisco. We will exceed 90,000 rooms throughout the state by 2030,' said Governor Pablo Lemus. Mauro Garza Marín, Jalisco's coordinator of economic growth and development, joined Lemus at the announcement. The governor emphasized that the administration's economic development strategy is yielding results, citing growth in foreign direct investment, job creation, and improvements in wage poverty, according to data from the Mexican Social Security Institute. Michelle Fridman Hirsh, the state's secretary of tourism, said the record-breaking investments are a result of strong government support and a robust tourism infrastructure. Jalisco ranks second nationally in hotel offerings and according to the federal Ministry of Tourism, Jalisco contributes 7.4% of Mexico's tourism GDP. From January to April 2025, 11 million people visited Jalisco – a 1.6% increase compared to the same period in 2024. Fridman also noted growth in beach tourism, Magical Towns, lodging, and passenger traffic at Guadalajara International Airport, which continues to expand its domestic and international routes. The state aims to surpass 90,000 available rooms by 2030. Jalisco currently has 2,821 hotels, offering 83,067 rooms. 'This year, we are going to increase our training and certification numbers for tourism service providers in the state. This initiative will undoubtedly help investors continue betting on Jalisco, as it ensures legal certainty, demonstrates strong support from the state government and reinforces Jalisco's position as a leading global destination for tourism,' Fridman said. Bernardo Aguilar Martínez Negrete, president of the Jalisco Hotel Association, said the industry is committed to solid investments and that the state offers a reliable environment for development. 'This is a historic moment to launch so many new projects in such a short time,' Martínez Negrete said. 'At the Hotel Association, we see this as a great opportunity to consolidate our position as the country's leading tourist destination in the coming years.' The 2026 FIFA World Cup is expected to bring more than 2.5 million visitors to Jalisco. Twelve of the 38 new hotels are scheduled to open before the tournament begins. Dollar amounts are approximate, based on an exchange rate of 18 pesos per U.S. dollar.
Reuters
04-06-2025
- Business
- Reuters
Spain's Sanchez seeks support from regions to triple housing budget
MADRID, June 4 (Reuters) - Prime Minister Pedro Sanchez on Wednesday sent a letter to leaders of Spain's regions seeking support to triple investment in social housing to around 7 billion euros ($8.00 billion) over the next four years. Spain needs to increase its social housing stock, currently equivalent to around 3% of all homes, to bring it closer to the European average of 8% in order to alleviate a shortage as buying and renting prices reach record highs. Ahead of a meeting on Friday between Prime Minister Pedro Sanchez and regional leaders, he offered to invest 4 billion euros, up from the current 1.7 billion allocated over the last three years, to build more homes and plug a housing deficit estimated at 450,000 by the Bank of Spain. Regional governments, which are mostly controlled by the conservative People's Party (PP), would provide the remaining 2.7 billion euros. That would mean Spain's regions have to agree to increasing their contribution to the housing budget to 40% from the current 25%. The government also wants regions to commit to maintaining social housing under state ownership and prohibiting their sale, government sources said. In the past, Spain built thousands of homes with public funds that later passed into private ownership. Government sources did not provide details about how the increase in housing budget would be funded or whether it would need parliamentary approval. Sanchez's minority coalition government is trying to pass new taxes in Congress to discourage owners from renting homes to tourists and foreigners from buying. The government will also propose creating a new database from all national and regional registers, with the aim of better monitoring rental and housing prices, as well as tourist rentals and available land to build on, the sources said. ($1 = 0.8754 euros)
Bloomberg
30-05-2025
- Business
- Bloomberg
Zara's Ortega Buys €250 Million Blackstone Building in Barcelona
Spanish billionaire Amancio Ortega has acquired a building on Barcelona's iconic Diagonal avenue for about €250 million ($284 million) from Blackstone Inc. Pontegadea Inversiones, the family office for the owner of apparel chain Zara, agreed to buy the 27,000 square-meter (290,000 square-feet) building housing the headquarters of Spanish book publisher Planeta, a spokesperson told Bloomberg News, confirming an earlier report by El Economista.
Reuters
29-05-2025
- Business
- Reuters
Colombia oil and gas E&P investment could jump 8% in 2025, industry group says
BOGOTA, May 29 (Reuters) - Colombia's investment in exploration and production (E&P) of hydrocarbons could jump some 8% this year to reach $4.68 billion, Colombia's leading industry group said on Thursday, warning this would not prevent a drop in gas production. The Colombian Oil and Gas Association (ACP) said the resources would however, maintain the South American nation's current levels of crude oil production. Investment last year was $4.33 billion, according to the ACP. "Today more investment is required to produce the same amount of oil, due to the natural depletion of the fields and the complexity of the operating environment," ACP President Frank Pearl said. "For gas, we are not managing to either increase production or replenish reserves, which is double the challenge when it comes to energy self-sufficiency," he added. The ACP estimated that $740 million would be invested in exploration this year, while $3.94 billion would go toward production so the country can keep pumping between 760,000 and 770,000 barrels of oil equivalent per day, similar to the 772,000 boepd recorded in 2024. However, it predicted that gas output would decline to 905 million cubic feet per day, compared to 959 million cubic feet last year. Since coming into office in 2022, President Gustavo Petro has sought to reduce the country's dependence on fossil fuels, a major contributor to the nation's economy, and move towards solar and wind energy projects.
