In Tuesday's Europe papers

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

FINANCIAL TIMES

Front page

Moscow threatens Georgia regime, says Bush
President George W Bush on Monday night accused Russia of invading Georgia and said Moscow appeared to be mounting an effort to overthrow the “duly elected government” in Tbilisi.

Punjab votes for end to Musharraf rule
The elected assembly in Pakistan’s most populous province passed a non-binding resolution on Monday night seeking an end to the rule of Pervez Musharraf, the embattled pro-US president.

Companies and markets

Republic to consider rival’s improved offer
Republic Services will retrench this week to weigh a sweetened takeover bid from top waste hauling industry rival Waste Management, after calling the initial offer an opportunistic attempt to disrupt its deal to buy the industry’s second-largest company, Allied Waste.

Overview: Dollar rallies while oil slides
The dollar retained its firm tone on Monday as caution about the global economic outlook boosted the appeal of the US currency and helped oil prices shrug off fears regarding the conflict between Russia and Georgia.

INTERNATIONAL HERALD TRIBUNE

Front page

Russia steps up its push; West faces tough choices
Russian troops stepped up their advance into Georgian territory on Monday, attempting to turn back the clock to the days when Moscow held uncontested sway over what it considers its "near abroad," and arousing increasing alarm among Western leaders.

Not content with gold, Phelps stalks Spitz and '72
Three finals, three gold medals, three world records. Michael Phelps is not just going for Mark Spitz's record of seven golds, he seems intent on winning all his races in world-record time, as Spitz did in 1972.

Marketplace

UBS reports fourth consecutive quarterly loss
UBS, Switzerland's biggest bank, reported a fourth straight quarterly loss on Monday, after debt writedowns and the cost of settling a US probe into its sale of auction-rate securities.

Wall Street strengthens its wary embrace of India
The Vatika Atrium, a seven-story building surrounded by hulking, half-built apartment towers in this dusty, aspiring metropolis south of Delhi, is a far cry from the canyons of Wall Street or the sleek Midtown headquarters of the world's biggest banks.

THE MOSCOW TIMES

Front page

Russia expands into Georgia proper
Russia's military expanded its presence in Georgia on Monday, seizing a military base in the Georgia proper and bombing Georgian military targets.

Ossetians say West is behind conflict
It has been three days since Alyona Zagoyeva has eaten or slept. After a weekend spent huddled in the dirty basement of her Tskhinvali apartment building with 20 of her neighbors, she seems exhausted and has to hang on the door handle for support.

Business

Markets recover on Medvedev's reassurances
Relieved investors gave Russian markets a boost Monday afternoon after President Dmitry Medvedev said most of the fighting was over in South Ossetia. Earlier in the day, markets and the ruble had slumped on fears of a prolonged conflict.

Capital flight fears lead Georgia to halt lending
The Georgian economy suffered a major blow Monday as banks were told to stop issuing loans and investors voiced concern that a military conflict spilling over into the country from two rebel provinces could disrupt energy supplies. 

DER SPIEGEL

Front page

Is AQ Khan a 'patriot' or the 'godfather of proliferation'?
Pakistani President Musharraf put him under house arrest for his nuclear weapons deals. Ex-CIA chief Tenet described him as being "at least as dangerous as Osama bin Laden." Pakistani nuclear scientist Abdul Qadir Khan is under a gag order, but in Spiegel, his wife accuses the government of calling the shots.

Moscow's power politics
The rapid escalation of the conflict in South Ossetia shows just how much the crisis suits all parties involved. Georgia wants to integrate itself into the West, and Russia wants to prevent just that. The welfare of the South Ossetians plays no role whatsoever.

TURKISH DAILY

Front page

Ankara caught in the hopes for a ceasefire
The war in South Ossetia is forcing Turkey to find the right balance between Georgia, Russia and ethnic communities that are urging Turkey to position itself against its northeastern neighbor.

Arduous 10 months in the fields
Workers from eastern and southeastern Anatolia have appeared in the press lately with stories of their difficult experiences in Ordu. Workers who went to Ordu, in the Black Sea region, to gather hazelnuts will not be able to return their homes when they complete their work. Instead, from Ordu they will head to Turkey's southern province of Çukurova. 

Business and finance

Turkish truck drivers stuck in Georgia
The clashes between Russia and Georgia have caused trouble for Turkish truck drivers, according to one truck driver from Trabzon who recently returned to Turkey following the outbreak of violence in the region.

Vestel eyes European market
Vestel, a Zorlu Group subsidiary that is one of Turkey's biggest home appliances suppliers, has bought Denmark's Vestfrost, which is one of Europe's and Russia's biggest appliance brands. “We aim to grow in Europe with Vestfrost,” Ahmet Nazif Zorlu, board chairman of the Zorlu Group, said Thursday.

WARSAW BUSINESS JOURNAL

Front page

Olympics in numbers
A sporting event that draws in thousands of international athletes to compete in a country whose population tops one billion is, undoubtedly, a marketing goldmine. Add to that over 5,000 hours of television, radio and online coverage broadcast to 220 countries and the Olympics become big business indeed.

President says Russia crossed the line attacking Georgia
On Saturday, President Lech Kaczynski met with Prime Minister Donald Tusk in Gdansk to settle the diplomatic strategy in relation to the attacks.

By: Staff Reporter
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