In Tuesday's Europe papers

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

Front page

BAE’s Turner warns over defence spending
Britain risks losing its influence abroad unless it makes defence a bigger priority, according to Mike Turner, BAE Systems’ chief executive.

Doubts cast on Zardari’s mental health
Asif Ali Zardari, the leading contender for the presidency of nuclear-armed Pakistan, was suffering from severe psychiatric problems as recently as last year, according to court documents filed by his doctors.

Companies and markets

Fannie-Freddie crisis spreads
The crisis gripping Fannie Mae and Freddie Mac spread across the financial system on Monday as JPMorgan Chase warned of a possible $600m loss from its holdings of preferred shares in the two mortgage financing groups.

Overview: Equities hit by fears for US financial system
Stock markets were hit by investors concerns about the fragility of the US financial system and the potential impact of a renewed rise in oil prices.

INTERNATIONAL HERALD TRIBUNE

Front page

Michelle Obama shows her husband's personal side
Michelle Obama declared "I love this country" Monday as she sought to reassure the nation that she and her husband Barack share Americans' bedrock values and belief in a dream of a better future.

UN envoy's ties to Pakistani are questioned
Zalmay Khalilzad, the American ambassador to the United Nations, is facing angry questions from other senior Bush administration officials over what they describe as unauthorised contacts with Asif Ali Zardari, a contender to succeed Pervez Musharraf as president of Pakistan.

Marketplace

Retail price controls squeeze Chinese oil giant PetroChina
PetroChina, the traded unit of the leading oil and gas producer in the nation, is expected to report that its first-half net profit fell by at least a third, analysts said Tuesday, as losses in its refining business eroded gains from surging crude oil prices.

Environmentalists weigh costs of Alberta oil sands
The huge dump truck sits parked under a massive mechanical shovel, waiting to transport 400 tons of oily sand at an open pit mine in the northern reaches of Alberta.

THE MOSCOW TIMES

Front page

Lawmakers recognise rebel regions
The parliament on Monday called on President Dmitry Medvedev to recognise the independence of Georgia's breakaway regions of South Ossetia and Abkhazia.

Putin eyes retreat on WTO accords
Prime Minister Vladimir Putin said Monday that Russia should abandon some of the commitments it made during World Trade Organisation accession talks.

Business

TNK-BP executive quits after 5 years
Embattled oil firm TNK-BP announced Monday that its executive vice president for downstream, Anthony Considine, had resigned after five years with the company.

RusHydro looking for recovery in share price
RusHydro, the world's second-biggest hydropower generator, could be set to receive a boost from its debut on the MSCI Emerging Markets Index on Friday, as investors may see the electricity producer as a cheap buy among Russian stocks suffering from political risk perceptions.

DER SPIEGEL

Front page

Has Merkel changed her tune on Georgia?
German Chancellor Angela Merkel seems to have changed her position on Georgia. Her intense skepticism of Georgian President Mikhail Saakashvili has been replaced by a sense of solidarity, and she is speaking more positively about Tbilisi's desire to join NATO.

Democrats divided by an Obama-shaped wedge
At the Democratic National Convention this week, it will become clear that the Democrats have a long way to go before they can speak of unity. The party is split into at least three factions.

TURKISH DAILY

Front page

The day we became Michael Douglas
Were Hollywood to come up with a solution to Istanbul's notorious traffic - made hellish by the periodic visit of any world leader - film makers might turn to the script of "Falling Down," a '90s classic where the character played by Michael Douglas abandons his car amid a mile-long traffic jam in L.A. and erupts in a fit of rage, smashing windows and tearing off mirrors of surrounding vehicles.

Balancing atop Kurdish trapeze
Democratic Society Party leader Ahmet Türk argues that a cultural and political approach to the Kurdish problem is not only obligatory for a solution, it is the only way before the outlawed Kurdistan Workers’ Party (PKK) will lay down its arms. But the “tutelage regime” in Turkey is a big obstacle in the way of any political attempt, Türk claims.

Business and finance

Turkey's real wealth lies beneath the ground
Due to its complex geothermal structure, Turkey is home to 77 out of 90 varieties of ore which is currently traded in the global markets. Although Turkey currently produces only 60 types of minerals, it ranks among the countries with high potential.

Palladium shopping center opening soon
The Palladium shopping center will open its doors in September in Kozyatağı's Yenisahra region, located on the Asian side of Istanbul.

WARSAW BUSINESS JOURNAL

Front page

Ministries have to cut their expenditures next year
In 2009, all ministries will have to lower their expenditures, but many of them have substantially higher expectations than the limits imposed by the Finance Minister.

PGNiG and Lotos team up to hunt for oil and gas
According to the Treasury Ministry, Polish Oil and Gas (PGNiG) and Grupa Lotos should cooperate in searching and drilling oil and gas in Norway and other countries.

By: Staff Reporter
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