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Economy

China Invests Big In Fellow BRIC Brazil

Worldcrunch

FOLHA DE S. PAULO (Brazil)

BEIJING - China made its largest investment of early 2012 in fellow BRIC Brazil by acquiring 30% of Petrogal Brasil, a subsidiary of Portuguese company Galp Energia. State-owned Sinopec, or Chinese Petrochemical Company, paid $4.8 billion for the aquisition. Overall, China invested $21.4 billion abroad from January to March, a 118% increase from the same period last year.

Chinese premier Wen Jiabao said earlier this month that bilateral trade with Brazil will break the $100 billion barrier this year. He met Brazilian Chamber of Deputies president Marco Maia, who is leading a comittee to China. China is the largest Brazilian business partner since 2009.

Petrogal Brasil is a prime target for Chinese investments, which concentrate on energy and natural resources companies. In May, another Chinese company, State Grid, bought seven energy transmission lines in Brazil. It paid $531 million and assumed another $411 million in debts.

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Society

NFTs Are Not Dead — They May Be Coming Soon To A Theater Near You

Despite turbulence in the crypto market, NFT advocates think the digital objects could revolutionize how films and television series are financed and produced.

NFTs Are Not Dead — They May Be Coming Soon To A Theater Near You

Mark Warshaw's series, The Bureau of Magical Things

Fabio Benedetti Valentini

PARIS — Advocates of a "participatory internet" (or Web 3.0) dream of an NFT future for cinematic works and animated films, despite the fact that Bitcoin (and cryptocurrency generally) is struggling. Non-fungible tokens (NFTs) are digital assets based on blockchain technology.

NFT converts say that digital objects could profoundly change the link between the general public and creators of cinematic content by revolutionizing the way animated films and TV series are financed. Even if, by their own admission, none of the experiments currently underway have so far amounted to much.

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