In Monday's Europe papers

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

FINANCIAL TIMES

Front page

M Stanley fund to tap Asian growth
Morgan Stanley will on Monday announce that it has raised a $4bn (€2.6bn) private equity fund dedicated to infrastructure projects--the latest move by a fund manager into sectors and countries that have not been affected by the financial crisis.

Civil war fear as Lebanon clashes escalate
Fierce clashes involving rockets and heavy machine guns erupted in Lebanon on Sunday between pro-government forces and opposition gunmen in mountains east of Beirut. At the same time Arab foreign ministers held an emergency meeting in an effort to find a solution to the worsening crisis.

Companies and markets

Shell and Repsol drop Iran gas project
Royal Dutch Shell and Spain’s Repsol have pulled out of one of Iran’s biggest gas projects, dealing a blow to Tehran’s attempts to expand its energy exports in the face of US and international sanctions.

Capital market deals raise $20bn
Banks and companies raised $20bn (€13bn) on the world’s equity capital markets last week in  sign of growing confidence among investors that the worst of the financial crisis may be over.

INTERNATIONAL HERALD TRIBUNE

Front page

Tilt to West is seen in elections in Serbia
A pro-Western party declared victory on Sunday night in closely contested parliamentary elections that were widely viewed as a referendum on whether Serbia would turn toward the West or revert to the nationalism and isolation of the Slobodan Milosevic years.

Drive in Basra by Iraqi Army makes gains
Three hundred miles south of Baghdad, the oil-saturated city of Basra has been transformed by its own surge, now seven weeks old.

Marketplace

The Craig behind Craigslist
Imagine what it was like to be Dr Kleenex. You invent a modern miracle, an inexpensive paper handkerchief, and suddenly you become the person to blame for America's disposable culture, or praised for a more convenient life.

Westpac Banking makes takeover offer for St George Bank
Westpac Banking said Monday that it was in talks on an all-share bid for St George Bank, which has a market value of Australian dollars (A$) 15bn ($14.1bn/€9.1bn), in a deal that would create Australia's largest home-lending and wealth-management provider.

THE MOSCOW TIMES

Front page

Softer speech before a tougher parade
President Dmitry Medvedev on Friday warned against disregard for international law and ""irresponsible ambitions"" that lead to conflicts, as he presided over the Victory Day parade, which showcased military hardware for the first time since the Soviet collapse. 

Medvedev gets sexed up on the internet
First, the Russian people--with a lot of help from Vladimir Putin--made him president. Now, someone seems to be trying to turn Dmitry Medvedev into a sex symbol. 

Business

Gazprom tops China mobile, GE
Gazprom overtook China Mobile and General Electric to become the world's third-largest company by market value after the presidential inauguration of its chairman, Dmitry Medvedev.

Gambling billionaire seeks $1.5bn
Oleg Boiko, who controls Eastern Europe's largest gaming company, said his businesses planned to raise $1.5bn (€975m) this year to fund expansion in gambling, retail and real estate. 

DER SPIEGEL

Front page

A Burmese tragedy
The disaster was unstoppable, and it was a more powerful natural disaster than crisis-shaken Burma had ever experienced. From last Saturday until the middle of this week, the number of victims grew relentlessly, hour after hour, day after day.

Russia displays its military pomp on Red Square
In the days running up to the parade, things in Moscow looked a bit strange. Tanks rolled down the streets in the direction of Red Square while fighter jets flew over the office blocks in the heart of the Russian capital. To Western observers, these scenes were anachronistic.

TURKISH DAILY

Front page

Clan system breeds blood feuds and lots of wasted lives
Families in Turkey feuding against each other for generations know Sait Şanlı, chairman of what is known as the Reconciliation Committee, as a peacemaker.

'Secularism cannot be imposed,' warns EU commission head
Top European officials Friday backed the ruling Justice and Development Party (AKP) by emphasizing the need for decoupling secularization from undemocratic rule.

Business and finance

Banks get biggest slice of IPO pie
Banks and private financial institutions grabbed top spot in terms of public offerings at the Istanbul Stock Exchange (IMKB), attaining resources of $3.8bn (€2.4bn) within the last 10 years, a recent survey has revealed.

Warning on political stability
The International Monetary Fund (IMF) has said a legal closure case against the ruling Justice and Development Party (AKP) increases political uncertainty in Turkey, urging the government to implement fiscal discipline and structural reforms to secure continued confidence of investors.

WARSAW BUSINESS JOURNAL

Front page

Orlen and Lotos benefit as oil rises above $125 a barrel
On Friday, for the first time ever, the price of oil went above $125(€81.25bn) a barrel. "I believe that the oil price should not substantially affect the valuation of Orlen and Lotos Group. However, it might positively affect the companies due to the so-called LIFO effect and thus improve their Q2 results," said Ludomir Zalewski of DM PKO BP.

Political storm wages over 'privatizing' hospitals
A heated political controversy erupted yesterday after the ruling Civic Platform (PO) revealed it would shortly propose a law that transforms all public hospitals into commercial companies.

By: Staff Reporter
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