In Friday's Europe papers

23 November 2007 06:00  [Source: ICIS news]

LONDON (ICIS news)--These were the top stories at 06:00 GMT in the following European newspapers’ online versions on Friday. ICIS has not verified these stories and does not vouch for their accuracy. To go to the individual websites, click the links below:

Financial Times
Front page

Pakistan suspended from Commonwealth
Pakistan was on Thursday night suspended from the Commonwealth, in a fresh attempt by the international community to exert pressure on President Pervez Musharraf to lift the country’s state of emergency and pave the way for free elections.

Goldman aims to raise $6bn for hedge fund
Goldman Sachs is aiming to raise $4bn (€2.6bn) -$6bn for a new hedge fund as the investment bank tries to rebuild its reputation in the hedge fund business, it has told potential investors.

Companies and markets

Takeover speculation lights up British Energy
British Energy was among the top performers as the London market’s recent roller-coaster ride continued.

Global squeeze prompts UniCredit rethink
UniCredit, Europe’s third-largest bank, has started a fundamental rethink of its business model as it adapts to the global credit squeeze and the need to retain more loans on its balance sheet.

International Herald Tribune
Front page

Critique of Iranian leader reveals political rift
An influential hard-line newspaper has made a rare direct attack on President Mahmoud Ahmadinejad over his recent harsh accusations against veteran politicians before parliamentary elections in March.

Czech drug epidemic threatens to spread through Europe
The methamphetamine epidemic is not just a scourge of the American heartland. It has a powerful foothold here in the heart of Central Europe. Home meth labs are sprouting up all over the country to produce this cheap, potent drug using the pseudoephedrine found in common cold medications.

Marketplace

Gazprom deal with Eni drives new wedge into hopes for EU energy unity
Gazprom, the Russian state-owned energy behemoth, strengthened its grip on the European natural gas market Thursday after signing a contract with Eni, the Italian energy group, a move analysts said would further weaken the European Union's chances of establishing a united energy policy.

Heathrow expansion proposed, and fought
The British government presented a multibillion dollar proposal Thursday to allow construction of a third runway and a sixth passenger terminal at London's chronically congested Heathrow Airport, angering environmentalists who fear that increases in air traffic are accelerating global climate change.

The Moscow Times
Front page

From insider to fighting the machine
Mikhail Kasyanov says he is the target of a vast, pro-Kremlin conspiracy to undermine his goal of shaking up an authoritarian political system. Alternatively, the former prime minister might just be the unluckiest presidential candidate on Earth.

Higher gas prices create a dilemma
Gazprom's plans to raise natural gas prices for Europe by at least 20% next year could generate more cash for a faster development of its giant Arctic fields, but could easily cast a shadow over future demand on the market.

Business

Putin, Prodi bless south stream deal
Russia and Italy on Thursday moved closer to building a joint natural gas pipeline under the Black Sea, a project that would reinforce Russia's standing as Europe's major energy supplier.

China pipe plan seen on track
The government said Thursday that it was sticking to plans to launch its first oil route to China in 2008 despite confirmation from pipeline monopoly Transneft that it was facing serious construction delays.

Der Spiegel
Front page

Is atomic radiation as dangerous as we thought?
Wearing mosquito helmets on their heads and radiation dosimeters on their belts, Clemens Woda and his three Russian colleagues drive past a bored-looking guard leaning nonchalantly against a meter-high fence. The truck moves past a yellow warning sign reading "radioactivity" and into the restricted zone.

In the realm of Mullah Fazlullah
The huge billboard on the pass high in the mountains may be yellow and faded but it's still legible. "Welcome to Swat Valley," is written in huge letters with a picture of a jeep surrounded by tourists underneath.

Turkish Daily
Front page

Oil prices defy gravity, $99?
Crude oil prices continued their climb toward $100 (€67) a barrel slowly but surely, in a surge that threatens developing economies such as Turkey.

Religious pressure forces students out
Four female students, aged 16 and 17, have moved to another school in order to escape alleged religious pressure, the Dogan news agency (DHA) reported Tuesday.

Business and finance

A call for government to focus on economy
Business circles, having lost the competition for the country's focus in 2007 to the general elections, demand that economy should be prioritized in 2008. The referendum on presidential elections and the possible cross-border operation into northern Iraq have also hampered progress on economy.

Realia asks banks to waive loan agreement
Realia Business SA, the Spanish real-estate company, is asking banks to waive loan agreements so it can borrow more money to buy office property in France. Realia is in talks with lenders to modify conditions tied to €1.6bn ($23.6bn) of loans, the company's chief financial officer Juan Antonio Franco said in an interview.

Warsaw Business Journal
Front page

Soldiers under orders to fire on Afghan villages?
The Polish peace troop scandal in Afghanistan has taken another turn, with Gazeta Wyborcza claiming that an order to mortar as many as three Afghan villages was made before the Polish troops even left the military base Wazi-Kwa, and certainly before the soldiers hit the mine.

Question mark remains over energy price liberalization
Mariusz Swora, the new chairman of URE, the energy regulator, formally announced yesterday that energy prices would not be liberalized next year.

By: Staff Reporter
+44 20 8652 3214

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