According to Renato Tadeu Bertani (Thompson & Knight Energy Services chief executive officer ) and Joao Carlos de Luca (president of the Brazilian Petroleum and Gas Institute and formerly the Repsol YPF Brazil president), Barra Energia’s aim to pursue ultradeep breakthroughs offshore, along with an assumed tighter control over them by Brazil, made the shallow locations a point of opportunity.

Bertani said that because most of the focus has been on deep water, there is not much attention given to onshore and shallow water discoveries.

The company intended to implement new geologic models and enhanced technology to advanced areas of manufacturing to boost output, as much as the latest strategies have enabled businesses to use shale in developing gas production in the United States.

The initial deal was said to come soon, but the company founders did not disclose a particular date.

First Reserve Houston’s branch managing director, Will Honeybourne, said that this was the way America reinvents itself. He further added that since Brazil lacked capitalized independents, there are countless opportunities for improvement.

Honoring two decades of diplomatic partnership between these Asian nations, the Business China Awards organizers said that the event aims to strengthen the bond as the Chinese market continues to be productive, with a record of 12% growth in the first quarter of 2010.

According to Business China’s chairman, Chua Thian Poh, one of their aims is to persuade more Singaporeans to take up the China challenge.

The award, after being launched last year, opened to businesses and entrepreneurs from Greater China (Macau, Mainland China, Hong Kong and Taiwan), as well as for those from Singapore.

The Business China Award is segregated into four categories, namely Business China Enterprise Award, Business China Young Achiever and Business China Excellence Award.

The judging criteria, according to the award organizers, will be inclusive and extensive.

Among the list of attributes that will be vital to communities in Singapore and China are effective administration and enterprise-corporate governance. This is according to Lim Chee Onn, Singapore’s Keppel Corporation senior adviser and a Business China director. In addition to this, he added that both countries were expecting to get better on the identified aspects.

To solidify the joint venture, Max India, which holds 74% of the stake in the company, decided to sell 4% of it to Axis. As a result, the stake acquisition will lower Max India’s shareholding to 70% in the insurance scheme.

According to Max India’s chief executive officer and managing director, Analjit Singh, the partnership is proof of the company’s commitment to bring the partnership and the business to a higher level. In addition to this, Singh also stressed the point that the stake partnership is not a financial venture.

Shikha Sharma, managing director and chief executive of Axis Bank, in turn, said that the concept of the venture was to have a common ground in expanding the business jointly. The bank’s stake in Max New York Life will reflect such an effort.

While Max New York Life has not yet paid premium for the partnership, both companies are still looking forward to getting profit from it, this is according to Max New York’s CEO and MD, Rajesh Sud. The insurer’s paid capital was about Rs 1,900 crore and the fixed month end value in March 2009 was at Rs 2,284 crore.

CII’s survey revealed that there was a 1.5 point boost in the BCI to the 67.6 level over the earlier survey that measured business mood for six months, which ended in March of 2010. On the other hand, the progress in the business sentiment, as seen by an increase in the BCI, was average compared to a 7.4 point improvement in the latter survey, which was compared to the period between April and September 2009.

CII Director General Chandrajit Banerjee said that although there was only a moderate increase, it was crucial to mention that it was on a “high base of the previous survey.” When it was compared with last year – the period from April-September 2009 – the Business Confidence Index (BCI) tallied almost nine points. The total index denoted the assumptions from the financial system in the current status, as well as in the next few months.

The survey, which covered over 450 businesses in India, showed that business outlook for the services area – counting the outsourcing sector – is quite higher than the total business sentiment. It likewise indicated that three in four businesses intended to boost their investments in the future, whereas two-thirds of the respondents were sure of growth in exports in the next months.

“I can confirm that a final agreement on the sale of Volvo to Geely was signed at 2:40 pm,” Volvo Cars’ spokesperson Per-Ake Froberg said last March 28, 2010.

A news conference was then organized at Volvo’s headquarters in Goteborg, which is located on the west coast of Sweden. During the conference, representatives of both companies stated that regulatory approvals have to be completed before the deal is totally sealed.

The transaction, which is expected to be finished by the third quarter of the year, is going to be paid through cash and a $200 million note.

Ford has been planning to sell its problematic Volvo component ever since 2008, so that it can more effectively manage its other car brands, namely Mercury, Lincoln and Ford.

However, the transaction will bring only a third of the $6.4 billion Ford paid in order to buy the Swedish luxury car brand in 1999.

At present, there are over 22,000 people working for Volvo across the world, and more than half of them are located in Sweden. Some unions within the company were against the deal at first because of possible job layoffs and ambiguous expansion plans.

Economists are expecting interest rates to grow since the nation aims to surmount its increasing debt as well as prevent rising trends.

“Americans have assumed the roller coaster goes one way,” said Bill Gross, the co-founder of the investment firm PIMCO. “It’s been a great thrill as rates descended, but now we face an extended climb,” Gross added.

For 30-year house loans, for instance, the interest rate has gone up from 5 to more than 5.2%. As for fixed mortgage, the average rate rose from 5.08 to 5.21%, said the mortgage company Freddie Mac.

According to economists, the average rate of 30-year home loans may also reach up to 6%, which was the level that was last observed in November 2008.

In addition, the interest rate of a 15-year fixed rate mortgage has also increased from 4.39 to 4.52% last week.

The impact of the interest rate hike will be felt by the housing industry the most. What with all these statistics, mortgage rates are not likely to go any lower than their present levels.

Amancio Ortega’s Inditex is a Spanish conglomerate made up of different companies engaged in textile design, development, manufacturing and distribution. He controls one of the world’s largest fashion groups after LVMH Moet Hennessy Louis Vuitton, which is led by French business tycoon Bernard Arnault.

Born in Leon, Spain on March 28, 1936 to a railroad worker and a maid, Amancio Ortega’s humble beginnings pushed him to work hard throughout his life. He started to work at the young age of 14 as a gofer in different shirt stores in A Coruña, Spain. He eventually pursued his own enterprise when he established Confecciones Goa, a textile company that manufactured dressing robes.

In 1975, Amancio Ortega opened his first store in what would become the extremely popular and innovative chain of fashion stores called Zara. The rest, as they say, is history. He has expanded his business and acquired several other brands along the way. From a single Zara store in A Coruña, Spain, he established a conglomerate of various fashion brands with over 4,350 stores employing more than 14,000 individuals all over the world.

The Inditex group is composed of several distinct brands, including Zara, Bershka, Pull and Bear/Often, Massimo Dutti, Stradivarius, Oysho, Uterque and Zara Home. Amancio Ortega has been hands-on in leading the company by being part of the production and design processes of the company.

The Indian billionaire acquired the entrepreneurial spirit and industriousness that led him to business success from his father, Dhirubhai Ambani, the founder of Reliance Industries. Dhirubhai Ambani turned the organization into India’s most massive conglomerate. Mukesh Ambani has followed his father’s footsteps since high school, when he would spend most of his time in his father’s office during the weekends.

He attended college at the University Institute of Chemical Technology, University of Mumbai, where he took up chemical engineering. He also pursued a Masters in Business Administration at the Stanford Graduate School of Business, Stanford University.

Mukesh Ambani joined Reliance in 1981. After their father died, he and his younger brother Anil took over Reliance Industries and ran the company together until 2006. Differences in interests and disputes over company control led the brothers to divide the conglomerate’s assets and operations. Mukesh Ambani took over the oil, gas and petrochemicals businesses.

Since then, he has led Reliance Industries and helped turn it into India’s most valuable company. He pushed for expansion as the company diversified into several ventures, including petrochemicals, petroleum refining, oil and gas exploration and production. He led Reliance’s initiative to create the biggest grassroots petroleum refinery in the world located in Jamnagar, India. Reliance Industries became the only Indian company to be included in Forbes Magazine’s list of “world’s 100 most respected companies.”

Ajay Banga, 50, entered the credit card company in August 2005. Prior to MasterCard he was with Citigroup Inc and served senior management roles.

As for Selander, he will retain his role on the board and take the role of vice chairman until his retirement, which will start at the end of 2010. He has been the firm’s CEO since 1997.

According to Chairman Richard Haythornthwaite, the company is fortunate to have a leader that possesses Banga’s experience and expertise in the field of banking. Haythornthwaite added that Banga’s extensive background in financial services, as well as his industry knowledge, cover many countries, making him an ideal CEO that will successfully guide the future growth of MasterCard in the country and around the world.

Banga, the heir of the MasterCard empire, is one of the few executives remaining as others Citigroup last year to look for other jobs. While still working for his previous employer, Banga experienced working in various locations, including the Middle East, Asia, Europe and the United States.

Born on February 20, 1920 in Essen, Germany, Karl Albrecht’s humble beginnings as a son of a former miner turned baker’s assistant and a mother who owned a small grocery store in Schonnebeck, Germany, instilled in him a sense of industriousness that equipped him with almost everything he needed for his entrepreneurial career. His younger brother, Theo Albrecht, shared the same business vigor. The brothers had their own modest careers in their youth, with Theo working as an apprentice in their mother’s shop and Karl working in a delicatessen store. Eventually, their mother’s store was passed on to Karl and Theo at the end of World War II.

In 1961, the brothers opened their first Aldi store. The Albrechts eventually grew their business into a supermarket giant all across Europe. Later on, they divided the company into two distinct organizations, Aldi Sud (South) and Aldi Nord (North). Karl took over Aldi Sud while his brother controlled Aldi Nord.

By the year 1997, Aldi expanded to over 3,000 stores in Germany alone. By 2009, Aldi penetrated other countries such as the United States, United Kingdom, Ireland, Greece, Hungary, Slovenia, Switzerland, Australia and Austria, with 8,500 stores across the world. Despite Karl Albrecht’s retirement from the daily operations of Aldi Sud in 1994, the company continued to achieve success as he led Aldi as its chairman. He eventually stepped down from his post in 2002.

With Aldi’s immense success, Karl and Theo Albrecht became self-made billionaires. The brothers are now the richest individuals in Germany.

Karl Albrecht is known for his very private lifestyle. Aside from his business success, the public knows little about him other than his family and hobbies. He is married with two children, neither of whom are working for Aldi. He is a golf fan, an orchid enthusiast and an antique collector.