Summary of major international financial events on November 29 November 29, 2010 13:41 Ifeng Finance Large, Medium and Small Print*** There are 0 comments Ifeng Finance News Today’s global financial news includes: EU 85 billion euro aid to Ireland; German Economic Minister

It said that the value of the euro is stable and there is no risk of depreciation; Amazon plans to upgrade its platform and expand to more countries.

For details, please see the specific report below.

EU 85 billion euros in aid to Ireland According to the Financial Times, EU finance ministers agreed last night to provide Ireland with an aid package worth 85 billion euros ($113 billion).

They also plan to approve a framework for a new permanent mechanism to deal with the euro zone debt crisis, in a bid to prevent contagion from affecting Portuguese and Spanish borrowing.

In a surprise move, the proposal to establish a permanent mechanism was brought forward significantly from the December deadline.

This plan will replace the current 440 billion euros euro zone rescue fund with a permanent "European Stability Mechanism", which is due to expire in 2013.

In addition, post-2013 euro zone government debt will come with collective action clauses stipulating that private creditors will participate in any future debt rescheduling or debt restructuring.

German Economy Minister: The value of the euro is stable and there is no risk of depreciation. Foreign media reported on Sunday that German Economy Minister Brüdler pointed out that the euro-dollar exchange rate is well above 1.30 US dollars, which shows that the euro is still stable and there is currently no sign of depreciation of the euro.

He also believes that no more euro zone member states will apply for financial assistance after Greece and Ireland.

News: The European Central Bank urges Portugal to apply for aid. According to the Wall Street Journal, the German version of the Financial Times quoted a source from the German Finance Ministry as saying on Friday that the European Central Bank and most euro zone member states are currently urging Portugal to apply for financial aid.

aid to prevent the country's debt problems from spreading to Spain.

The above-mentioned report said that the Portuguese banking industry is in better condition than Ireland, but the operation of the banking industry still depends on the liquidity of the European Central Bank.

The source said that if Portugal accepted the aid, Spain would benefit from it because Spain's exposure to Portugal is very serious.

The ECB declined to comment to Dow Jones Newswires on the reports.

BP to sell Pan American Energy for $7 billion BP is reported to be selling its 60% stake in Argentinian oil producer Pan American Energy for $7.06 billion to cash out funds for

Reimbursement of oil spill losses in the Gulf of Mexico.

BP announced on Sunday that the buyer of these shares is Argentina's Bridas, which already holds 40% of Pan American Energy's shares, and is expected to complete the transaction in the first half of 2011.

In response to the rising cleanup costs and related losses of the oil spill, BP announced plans to sell off US$30 billion in assets as early as this summer.

The company expects the cost of dealing with the oil spill to be close to $40 billion.

BASF plans to invest 1 billion euros to add factories in China. According to the Financial Times, BASF (BASF) aims to expand its business in the fast-growing Chinese market and plans to invest more than 1 billion euros ($1.3 billion) in the next few years.

Added factories in China.

The world's largest chemicals company by sales is running at full capacity at its factories in China.

Asia accounted for 23% of BASF's 39.6 billion euros in chemical sales in the first nine months of this year.

The group expects its sales revenue to reach 92 billion euros by 2020, of which 20 billion will come from Asia.

About half of the company's sales in Asia come from China.

British Green Energy is in talks to acquire Total's British gas station retail network. According to reports, British gas station fuel supplier Greenerg has launched a ￡1 billion ($1.6 billion) acquisition of its British gas stations from France's Total.

Retail network offer.

Paul Lester, CEO of Green Energy, told the British Mail on Sunday that he has held preliminary talks with France's Total to acquire its 780 gas stations in the UK.

It is reported that Tesco, the world's third largest retailer, holds 35.6% of Green Energy.

Green Energy also intends to acquire 460 gas stations owned by Murco Petroleum Company in the United States.

Qantas A380 passenger plane resumes service According to the "Wall Street Journal" report, a Qantas Airbus A380 super large aircraft took off from Sydney last Saturday, stopped in Singapore, and flew to London, the capital of the United Kingdom.

This is the first time Qantas has resumed operations of its A380 passenger aircraft since the fleet was grounded due to an emergency landing in Singapore due to engine failure on November 4.

Amazon plans to upgrade platform to expand to more countries According to the Financial Times, Amazon said it plans to upgrade its international e-commerce platform, making it easier for the company to reach customers in new markets.

The move confirms the globalization of online retail.