In Friday's Europe papers

16 October 2009 05:30  [Source: ICIS news]

FINANCIAL TIMES

Front page

US hardens stance on renminbi rigidity
The Obama administration said on Thursday that it had "serious concerns" about the value of the renminbi, but stopped short of accusing China of manipulating its currency in a closely watched report to Congress.

US bank results highlight recovery gap
Bumper third quarter profits at Goldman Sachs and another loss for Citigroup on Thursday highlighted the gap between the financial resilience of Wall Street and the woes of Main Street, fresh evidence that two Americas are emerging from the crisis.

Companies and markets

No new updates

INTERNATIONAL HERALD TRIBUNE

Front page

Pakistan attacks show tightening of militant links
A wave of recent attacks shows that the Taliban, Al Qaeda and militant groups are tightening an alliance aimed at bringing down the Pakistani state, officials and analysts say.

Karzai aide says Afghan runoff vote appears likely
It was the first time that President Hamid Karzai’s government has acknowledged the probability of a runoff.

Business

Chinese export boom in evidence at trade show
Buyers swarming through the world’s largest trade show in Guangzhou underscored how China’s low wages and cheap currency are producing a resurgence of exports.

Bank chief forgoes pay for 2009
Bowing to increasing scrutiny of his compensation, Bank of America’s embattled chief executive, Kenneth D Lewis, agreed not to take a salary or bonus for 2009.

THE MOSCOW TIMES

Front page

Italians to make meat for big Macs
Italy’s Cremonini Group will open a new meat-processing plant in the Moscow region to produce hamburgers for McDonald’s by year-end as it moves to build a full production chain in Russia.

Carrefour pulls out after just four months
Carrefour, Europe’s largest retailer, said late on Thursday that it would leave Russia just four months after opening its first store because of an "absence of sufficient organic growth prospects".

Business

Sberbank, VTB pass on AvtoVAZ stakes
Sberbank and VTB said on Thursday that they were not interested in taking stakes in AvtoVAZ in exchange for debt, depriving the loss-making carmaker of another channel for possible salvation.

Indian arms deal could be worth $5bn
India and Russia agreed on two military pacts Thursday, including a 10-year deal on weapons, aircraft and maintenance contracts potentially worth at least $5bn, Indian defence officials said.

DER SPIEGEL

Front page

Problems plague launch of ‘safer’ next-generation reactors
The executives of electric utilities worldwide are dreaming of a renaissance in nuclear power. But problems with a new, state-of-the-art reactor in Finland suggest that this is unlikely to happen.

Palestinians rail against bungling Abbas
Palestinian President Mahmoud Abbas is damaging his standing with his own supporters as he careens back and forth between Israel and the United States.

HURRIYET DAILY NEWS

Front page

Israeli-Turkish rift moves to small screen
Israeli soldiers killing Palestinians on a state-run Turkish television series has caused reactions in Israel, with whom Turkey’s relations already have been suffering since the recent cancellation of joint military exercises and the Davos incident earlier this year.

Turkish Cyprus irritiated by Cyprus article in Progress Report
Turkish Cypriots are offended by the wording of the Cyprus article in the 2009 Turkey Progress Report issued by the European Commission.

Business and finance

Maritime sector seeks new horizons
The Istanbul Metropolitan Municipality has increased sea transport in overall transportation from 2.5% to 5%, according to a top official.

Renewable energy in high demand in Turkey
The European Free Zone’s studies on the construction of a 500 per kilowatt hour wind power station still continue, said Zafer Atbakan, general manager of the zone, which is located in an industrial centre in the northwestern Tekirdag region.

WARSAW BUSINESS JOURNAL

Front page

BGK purchases share rights in PKO BP for zł.1.39bn
State controlled bank, BGK, has bought 512m share purchase rights for PKO BP from the Polish government at a total cost of zł1.39bn, the CEO of BGK told Reuters.

French naval builder to buy Gdynia shipyard assets?
DCNS, a French state-owned maritime manufacturer, is interested in purchasing the assets of the troubled Gdynia shipyard.

By: Staff Reporter
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