In Wednesday's Europe papers

02 April 2008 06:00  [Source: ICIS news]


Front page

China offers Nigeria $50bn credit
China has offered export guarantee facilities worth up to $50bn (€31.5bn) to encourage investment in Nigeria in a bold strategy to woo Africa’s biggest oil producer.

Asian stocks gain after Lehman offering
Share prices rallied strongly across most of Asia on optimism that the worst of the credit crisis might have passed.

Companies and markets

Lehman raises $4bn in new capital
Lehman Brothers’ shares leapt almost 18% following its increased $4bn (€2.5bn) capital raising plan, a jump that reflects the volatility in financial stocks that has become commonplace and the huge influence of short traders.

Overview: Revival hopes as equities and dollar rally
Further huge writedowns at investment banks UBS and Deutsche Bank triggered tentative hopes that the worst of the credit crisis might be over for the sector. Investors were further impressed by news that a $4bn (€2.5bn) share sale by Lehman Brothers had been oversubscribed.


Front page

Mugabe's control of Zimbabwe weakens
President Robert Mugabe's decades-old control of Zimbabwe seemed to erode further on Tuesday, as diplomats, analysts and opposition members contended that negotiations were underway for Mugabe to step down after trailing in the race for the country's next president.

Rattled, Chinese make Olympic security a priority
The Chinese president, Hu Jintao, has ordered his nation's security forces to place a top priority on the Olympics in August, saying that the country's international reputation was at stake.


Asian Development Bank forecasts Asia's growth to hit 5-year low in 2008
Growth in Asia's developing economies, the fastest-expanding in the world, will slow in 2008 to the weakest pace in five years because of the global credit crisis, the Asian Development Bank said Wednesday.

Asian stocks zoom up on optimism that credit crisis nearing end
Asian stocks jumped and bonds fell Wednesday after a Lehman Brothers securities offering met strong demand, raising hopes that the worst of the credit crisis might be over.


Front page

Kudrin calls for cuts in spending
Finance Minister Alexei Kudrin pitched himself against other leading policymakers Tuesday, calling for a cut in federal spending as the economy displays signs of overheating. 

Bush and Putin will sign a paper in Sochi
US President George W Bush and President Vladimir Putin will sign a document outlining the framework for strategic relations between their two countries at a meeting this weekend, a Kremlin source said Tuesday. 


Sberbank sees 2007 net profit at $4.2bn
After its president, German Gref, gives reporters in Singapore a figure of $4.9bn (€3.08bn), the bank corrects it down to about $4.2bn.

KamAZ may follow AvtoVAZ's path
KamAZ, the country's largest truck maker, may sell one-quarter of its shares for $1.25bn (€787.5bn) this year to a strategic investor from the European auto sector, sources familiar with KamAZ's plans said Tuesday.


Front page

Europe waits out the Bush administration
Just the thought of NATO's big anniversary summit next year is enough to warm the heart of Secretary General Jaap de Hoop Scheffer. It will be marvelous when the heads of state and government come together in the spring to celebrate the 60th anniversary of the north Atlantic alliance.

Moscow investors go on shopping spree for German companies
Harald Ruschel, a member of the works council at the Aker shipyard in the northern German Baltic seaport of Rostock-Warnemünde, had expected everything from tears to catcalls and booing.


Front page

Milan bests Izmir to host EXPO 2015
Milan emerged the winner against Izmir to host EXPO 2015 after last night's vote in Paris where both cities were neck and neck for the chance to host one of the biggest events in the world.

Ruling party to face closure trial
Turkey's top court yesterday agreed to hear a case requesting the closure of the ruling Justice and Development Party (AKP), which is accused of being a focal point of anti-secular activities, in a move that could further strain the political environment in the country.

Business and finance

Lehman sues Marubeni over fraud
US investment bank Lehman Brothers said it had filed a lawsuit yesterday to claw back $352m (€221.7m) from Japanese trading house Marubeni Corp that was lost in a finance scam.

Slowdown hits passenger flights globally
Economic slowdown in the US is taking a growing toll on the airline industry as passenger occupancy rates hit the lowest level for four years, the top industry association said yesterday.


Front page

Contested Lisbon Treaty passed: 384 in favor, 56 against
After a three week stalmate the Sejm yesterday passed the bill authorizing the ratification of the Lisbon Treaty with 384 deputies voting in favor, 56 Law and Justice (PiS) deputies against and 12 abstaining.

Bank of New York plans to reactivate investment fund
US-based Bank of New York (BNY) is planning to return to its plans to launch services on the Polish market and in order to do this it wants to reactivate the Bank of New York National Trust TFI (BNY NT TFI) investment fund which was established in Poland two years ago.

By: Staff Reporter
+44 20 8652 3214

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