In Tuesday's Europe papers

02 June 2009 05:30  [Source: ICIS news]


Front page

Gulf investor to sell Barclays stake
One of Barclays’ largest Middle Eastern shareholders announced plans on Monday night to offload its stake in the British bank, pocketing a large profit less than seven months after making its £3.5bn investment.

Kim Jong-il moves to anoint a successor
North Korea’s leading state institutions have sworn loyalty to the youngest son of its ailing dictator, Kim Jong-il, according to South Korean government officials.

Companies and markets

Obama seeks to reassure on GM
President Barack Obama sought to quell unease at Washington’s widening role in the US motor industry by promising that his administration would refrain from directly influencing General Motors and Chrysler in all but the most critical decisions.

Overview: Optimism worst is over drives gains
A surge in investor risk appetite sent equity and commodity prices sharply higher on Monday as a string of positive data releases rekindled hopes that the worst might be over for the global economy and overshadowed General Motors’ widely expected bankruptcy filing.


Front page

Search is on for wreckage of missing Air France jet
The disappearance of an Air France jet en route from Rio de Janeiro to Paris Sunday evening left seasoned crash investigators with a mystery to plumb and very little data to work with.

Pakistani cadets freed after abduction by Taliban
The Pakistani Army rescued 79 of the students and teachers, an army spokesman said Tuesday morning. At least one of the hostages was still missing.


Obama is upbeat for GM’s future
President Obama described the investment of more billions of taxpayer dollars in GM as necessary to avert a calamity that could hurt millions of people.

Now a GM owner, UAW faces delicate balancing act
For decades, the United Automobile Workers had a simple strategy for getting what it wanted from the carmakers - it would go on strike.


Front page

Rosneft changing several key rules
The changes, which include an end to a requirement that the president be a veteran oilman, fuel talk that Bogdanchikov is leaving.

China opens probe into steel imports
The Chinese Ministry of Commerce said on Monday that it had launched a probe into imports from Novolipetsk Steel, investigating possible dumping of transformer steel.


Central Bank raises reserve requirement
Moody’s says that banks need $40bn to recapitalise in 2009.

Moscow to bankroll hotel on Rossiya site
Hard up for investors, the Moscow city government has decided to take matters into its own hands and finance the first phase of construction of a more than $1bn development on the site of the former monolithic Rossiya Hotel.


Front page

Air France plane from Rio missing
French officials are fearing the worst on Monday after an Air France jet on the way from Rio de Janeiro to Paris disappeared from radar screens. There were 228 people on board.

New Cold War on the Korean Peninsula
There was a time when South Korea thought rapprochement with the North could result in the kind of peaceful reunification seen in Germany.


Front page

US, Turkish officials praise boost in ties
Key Turkish and US officials attending an annual conference here on relations between Ankara and Washington on Sunday praised an improvement in ties between the two allies since President Barack Obama took office in January.

Polling tough in land where pollsters feared
Security fears and political polarisation within society can put pollsters in difficult situations, such as facing police interrogation or lacking access to all strata of society, and may be skewing polling results across Turkey.

Business and finance

Inflation rate may drop to 39-year low
Turkey’s inflation rate has most likely fallen for the sixth month in seven in May, reaching the lowest in 39 years and raising the prospect of further cuts to the benchmark interest rate, a survey showed.

Neighbour puts ban on Turkish cement imports
Turkey’s neighbour Bulgaria has banned cement imports from Turkey over claims that the products include highly carcinogenic material.


Front page

Poland strives to ensure its role in 1989 is remembered
The 20th anniversary of regaining freedom and partially free elections will be celebrated with over 120 events in Poland, but at the same time the government is putting much stress on foreign events hoping that fall of the communism will not be mainly associated with the collapse of the Berlin wall.

PiS’ support rising too slow to ensure EP election victory
One week prior to the elections to the European Parliament, the Civic Platform (PO) can no longer be certain of victory in several regions. According to a GfK Polonia poll for Rzeczpospolita, Law and Justice (PiS) is now close behind PO in a handful of its traditional strongholds.

By: Staff Reporter
+44 20 8652 3214

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