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The European Central Bank (ECB) approved on Tuesday a plan to reopen the Athens Stock Exchange with restrictions on trading by local investors after a one-month shutdown, an official from the Athens Stock Exchange said. Trading will resume after the Greek finance ministry issues a ministerial decree on the matter, the official said, paving the way for the exchange to potentially open as of Wednesday. "The ECB gave its approval," the official told Reuters on condition of anonymity.
General Motors announced plans Tuesday to invest $5 billion to introduce a new family of cars under the Chevrolet line targeting emerging markets, co-developed by Chinese partner SAIC Motor. The largest US automaker expects to manufacture and sell the vehicles in China, Brazil, India and Mexico and export the cars to other emerging countries. The core architecture and engine of the new vehicles are being jointly developed with state-owned SAIC, a leading Chinese automaker and a partner of GM on major joint ventures in the world's second-largest economy.