In Monday's Europe papers

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

FINANCIAL TIMES

Front page

Bond fundraising costs soar
Many banks and companies are paying more to raise money in the bond markets than at any time since the recession in the early 1990s amid signs that the financial crisis is deepening.

Poll fears ahead of Democratic convention
A successful presidential convention can give the nominee a five- to 10- percentage point bounce in opinion polls. But as Barack Obama and running mate Joe Biden chart their course across the swing states of the mid-west towards Denver on Wednesday, a large chunk of media attention will be eaten up by Hillary and Bill Clinton.

Companies and markets

Zucker hopes the Olympic effect lasts
Jeff Zucker was in Beijing’s Water Cube aquatics centre to watch Michael Phelps win his eighth gold medal. "I’ve been to just about every major sporting event of the last 20 years and this was as exciting a moment as I’ve ever seen," NBC Universal’s chief executive said on returning from the Olympic Games this weekend.

Property sector points to deepening downturn
Savage housing market downturns have dragged the US, UK, Ireland and Spain to the brink of recession. Data released this week will highlight how weakness across property sectors is continuing to erode consumer confidence and undermine business activity.

INTERNATIONAL HERALD TRIBUNE

Front page

In nuclear net's undoing, a web of shadowy deals
The president of Switzerland stepped to a podium in Bern last May and read a statement confirming rumors that had swirled through the capital for months. The government, he acknowledged, had indeed destroyed a huge trove of computer files and other material documenting the business dealings of a family of Swiss engineers suspected of helping smuggle nuclear technology to Libya and Iran.

Georgian president vows to rebuild army, and pursue control of enclaves
President Mikheil Saakashvili of Georgia said Sunday that he planned to rebuild his country's shattered army, and that even after its decisive defeat in the war for control of one of Georgia's two separatist enclaves he would continue to pursue a policy of uniting both under the Georgian flag.

Marketplace

USand global economies slipping in unison
Economic trouble has spread far beyond the US to major countries in Europe and Asia, threatening businesses around the world with the loss of the international sales and investment that have become increasingly vital to their sustenance.

Sinopec's first half net profit falls on price controls for oil products
China Petroleum & Chemical said Monday that its first-half net profit fell 77% from a year earlier because of losses in its refining business.

THE MOSCOW TIMES

Front page

East-west artery reopens in Georgia
Traffic gradually began to trickle along Georgia's main east-west highway over the weekend, after the departure of Russian troops who had been barring traffic on the road and, effectively, cutting the country in half.

Moscow dismisses economic threats
Attempts to isolate and punish Russia for its military actions in Georgia will backfire, given Russia's economic muscle and key role in mediating international disputes, senior Russian officials said Friday.

Business

Severstal expands in US in $1.3bn deal
Severstal will pay $1.3bn to acquire North American coal miner PBS Coals in an all-cash deal giving it access to raw materials for its expanding network of US steel mills.

Debt-ridden AirUnion resumes regular flights
Debt-ridden AirUnion resumed flights from Moscow's Domodedovo Airport over the weekend, ending days of delays caused by soaring prices for jet fuel.

DER SPIEGEL

Front page

'We should have trampled on Georgia'
A quick war is the best propaganda: The conflict in the Caucasus has further strengthened the Putin-Medvedev leadership duo, according to new polls. Many Russians are hoping the pair will continue leading the country back towards super-power status and that they will pursue that aim more energetically.

Jihad and gentle resistance in the wild west
Beijing has governed the giant Uighur province of Xinjiang for more than five decades. China's Communist Party anticipates more attacks by Uighur separatists during the Olympics -- as revenge for Beijing's harsh treatment of the Muslim minority group.

TURKISH DAILY

Front page

A growing black hole in Turkish cyberspace
While the number of blocked web sites reaches 853, including popular Youtube, several web sites and blogs block themselves as an act of protest to draw attention to the increasing censorship over the Internet.

US move arouses Russian suspicion
The United States' move to pass a missile destroyer loaded with humanitarian supplies through the straits on its way to Georgia has drawn reaction from the Russian military, reported NTV news channel Friday.

Business and finance

Central bankers see few options to fix economy
The world's top central bankers gathered at their annual US mountainside symposium Friday with a sense there's not much more they can do to repair credit markets and rescue the global economy.

Wooden villas go on sale in Ankara
Aktürk Construction Industry's Nascor İncek Villas project, which spans 15 acres, is comprised of 15 villas with different architectural designs in Ankara. The size of the wooden villas with 4+1 floor plans ranges from 266 to 367 square meters, while their prices vary from YTL 800,000 to YTL 945,000.

WARSAW BUSINESS JOURNAL

Front page

AmRest bites into Sfinks
AmRest has acquired a 9.1% stake in Sfinks, not excluding future acquisition plans.

US and Iraq agree on troop withdrawal date
US and Iraqi negotiators have come to an agreement to pull out US troops from Iraq by 2011.

By: Staff Reporter
+44 20 8652 3214

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