In Friday's Europe papers

09 May 2008 06:00  [Source: ICIS news]

FINANCIAL TIMES

Front page

China eyes overseas land in food push
Chinese companies will be encouraged to buy farmland abroad, particularly in Africa and South America, to help guarantee food security under a plan being considered by Beijing.

Pentagon drops post in Pakistan for top general
When the Pentagon announced in March that Major General Jay Hood would become the senior American officer based in Pakistan, it reflected the military's aim to put a crisis-tested veteran in a critical job at a pivotal time in the fight against Al Qaeda and the Taliban in Pakistan's tribal areas.

Companies and markets

Citigroup considers $400bn asset sale
Citigroup will on Friday identify as much as $400bn (€2.6bn) in non-core assets that could be sold as part of plans to reduce costs and restore profit growth to double-digit rates, according to people close to the situation.

Guinness could be taken out of Dublin
Diageo will on Friday announce plans for restructuring its Irish Guinness business, which could include closing most of its historic brewing site in Dublin.

INTERNATIONAL HERALD TRIBUNE

Front page

UN pressures Myanmar to allow aid
With up to 1.5m people in Myanmar now believed to be facing the threat of starvation and disease and with relief efforts still largely stymied by the country's isolationist military rulers, frustrated UN officials all but demanded Thursday that the government open its doors to supplies and aid workers.

Hu makes friends with old foe
If diplomacy were built on goodwill gestures alone, there would be few worries about the state of Sino-Japanese relations.

Marketplace

Citigroup cleans house as Pandit plans a revival
Vikram Pandit is doing some serious spring cleaning at Citigroup. Since becoming chief executive in December, Pandit has been clearing out the corporate attic of weak businesses and unloading worrisome assets at bargain-basement prices.

High prices for staple foods dip, but volatile markets persist
After months of startling increases, the prices of rice, wheat, soybeans and several other foods have come down recently, a development that could ease some of the panic in global food markets.

THE MOSCOW TIMES

Front page

President Medvedev stresses the law
In his first speech as head of state, newly inaugurated President Dmitry Medvedev vowed Wednesday to strengthen the rule of law and to bring as many Russians as possible into the middle class.

Barren streets, baffled tourists
At precisely 20 minutes past noon, a 30-gun salute echoed down narrow Nikitskaya Ulitsa in central Moscow. Few seemed to notice. A teenager with bright blond hair used the booms as a sly pretext to wrap his girlfriend in a bear hug.

Business

New claims in Rosneft power case
A Rosneft subsidiary filed new claims against TGK-11 in a Moscow court on Wednesday, saying the vote to create the utility was invalid because the shareholders' ballots were miscounted.

United plans direct Moscow flights
United Airlines plans to start nonstop passenger and cargo flights from Washington on 26 October, becoming the third US airline to offer direct flights to Moscow.

DER SPIEGEL

Front page

The poisoned congratulations of German know-it-alls
If you drive north out of Tel Aviv for about 15 minutes you come across Herzliya, a settlement founded in 1924 by seven immigrant families and named after Theodor Herzl, the father of modern Zionism. More than 80,000 people live there today, and countless tourists visit each year.

EU fears nationalist victory in Serbian elections
The words "Toma, Toma" reverberate across the market square in Cacak, a small city in southern Serbia. The man on the stage, who is wearing a gray suit, accepts the crowd's homage with a modest smile, at most moving his wad of chewing gum a little faster around in his mouth.

TURKISH DAILY

Front page

Our record is our defense, says AKP
Going on the offensive in the closure case filed against it, the Justice and Development Party (AKP) presented its defense to the Constitutional court and said the top prosecutor had a political agenda while filing the closure case, and that shutting down the ruling party will pave the way for a regime ruled by the judiciary.

Turk-Armenian NGO is a no-go
While political leaders of both Turkey and Armenia debate ways to "open dialogue," an effort by a Brussels-based association of Turkish and Armenian businessmen has been told that even an Istanbul office for the nongovernmental organization is off the table, it was revealed yesterday.

Business and finance

Brazilian bourse Bovespa and Istanbul stock index decouple
Due to increasing political risks and souring macro economic data, the Istanbul Stock Exchange's (IMKB) path separated from that of Brazil's Bovespa, which were often evaluated in the same category and referred to as "twins."

Eti Mine posts historic profits
Turkey's state-owned company responsible for mining, processing and marketing Turkey's boron resources, Eti Mine Works is experiencing a golden era with significant rises in production volume, domestic sales and exports.

WARSAW BUSINESS JOURNAL

Front page

Polbank moves into the black as promised last year
Polbank made a net profit of €1.8m ($2.7m) in first quarter this year as promised. A year ago president of banking group Eurobank EFG assured the investors that following first quarter 2008, its Polish arm Polbank would turn into the black.

Orange keeping TPSA market leader in internet services
Orange has already acquired over 20,000 subscribers to internet services on TPSA's network, which owns Orange.

By: Staff Reporter
+44 20 8652 3214

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