In Wednesday's Europe papers

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


Front page

UK tries to offload Typhoon fighters
Talks have been held with countries including Japan about offloading large numbers of Eurofighter Typhoons that the British Ministry of Defence has ordered but can no longer afford.

NATO tells Russia: no ‘new line’ in Europe
NATO warned Russia on Tuesday that it could not draw a “new line” in Europe preventing Georgia and other countries from joining the western military alliance if they wished to do so.

Companies and markets

GM to make U-turn over sales incentives
General Motors (GM) has backed away from a two-year drive to wean itself off incentives, highlighting the increasing desperation of US carmakers to counter the steep downturn in demand.

Overview: Weak financials lead equities lower
Persistent concerns about the health of the financial sector and intensifying worries about the broader economic outlook kept global equity markets under pressure on Tuesday.


Front page

Afghan War escalates with Taliban raid
Taliban insurgents mounted their most serious attacks in six years of fighting in Afghanistan over the last two days, including a coordinated assault by at least 10 suicide bombers against one of the largest American military bases in the country, and another by some 100 insurgents that killed 10 elite French paratroopers.

Cervical cancer vaccine is popular, but fails to cure doubts
In two years, cervical cancer has gone from obscure killer confined mostly to poor nations to the West's disease of the moment.


Some investors say US bailout of housing giants is inevitable
Financial conditions are continuing to worsen at Fannie Mae and Freddie Mac, leading some investors to prepare for a government bailout of the housing giants even as the Treasury Department and the companies say such government intervention will not be necessary.

US businesses face economic dilemma
Prices for goods purchased by American businesses surged more than expected in July and have jumped by nearly 10% over the last year — the sharpest increase since 1981.


Front page

Russians pulling back, digging in
A small number of Russian troops and armored and supply vehicles began moving north from the Georgian border on Tuesday and toward Vladikavkaz as part of the beginning stages of a phased withdrawal of Russian forces from Georgian territory.

Georgia, global factors hit stocks
Russia stocks slumped badly Tuesday as concerns over the continuing Georgia crisis fueled investor pessimism, on top of global factors such as falling commodity prices and worries that US housing lenders Fannie Mae and Freddie Mac could require a Washington bailout.


Amtel halts production at Kirov plant
Amtel-Vredestein, the tire producer being acquired by Gazprom's Sibur-Russian Tires, said Tuesday that it had halted production at its Kirov factory because of a working capital shortage.

Test run for strategic sector law
Svetlana Levchenko said she found it enjoyable but exhausting to be at the forefront of Russia's efforts to apply new rules for foreign investment in strategic companies.


Front page

The phantoms of the Beijing Opera
There was once a hope that sports would trump politics during the Olympics. But the Chinese police continue to arrest citizens who register to stage demonstrations. IOC President Jacques Rogge is in charge of a show over which he has long since lost control.

UN begins transfer of Kosovo authority to EU
The agreement may be technical in nature, but Serbia views Monday's accord between the UN and the EU in Kosovo as being illegal. The EU mission has little legal backing, but it is insinuating itself into the newly independent country.


Front page

Fear of chaos as Musharraf exits
Diplomatic sources say Pakistan’s stability and its ongoing fight against terror and extremism are very important for Turkey and the world, suggesting challenges in the new era be tackled through reconciliation between all the political actors

Gas deal with Tehran not off the table
Energy Minister Hilmi Güler announced yesterday that Ankara had not stepped back from signing a long-awaited natural gas agreement with Iran. The deal, setting the groundwork for a new natural gas pipeline with an annual capacity of 40 billion cubic meters, could not be completed during Iranian President Mahmoud Ahmadinejad's visit to Istanbul last week, creating speculation of US interference.

Business and finance

US dollar stagnating, weak on lira
With the end of the political uncertainty, Turkey's financial markets have returned to an international outlook. While Istanbul Stock Exchange, or İMKB, grew 483 points to 42,194 Friday, interest rates declined to lower than 18.5%. Meanwhile, the US dollar sways between Turkish Lira (TL)1.18 ($1) and 1.185.

Australian, US scientists copy nature to produce hydrogen
Scientists from Australia and the United States reported having replicated a process found in plants, which uses sunlight to make hydrogen from water. The process poses a potentially cleaner and more efficient method of producing energy for use in fuel cells.


Front page

NATO demands Russia to pullout troops
NATO foreign ministers gathered in Brussels in an emergency meeting to respond to the crisis in Georgia and concluded that regular cooperation with Russia will be impossible until Moscow fully withdraws troops from Georgia.

New coal deal in Poland
The Czech Republic and Poland have signed a deal on Tuesday enabling coal companies from both countries to explore deposits in the region, the Industry and Trade Ministry announced in a statement.


By: Staff Reporter
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