In Tuesday's Europe papers

05 January 2010 05:30  [Source: ICIS news]


Front page

Funds cut US and UK bond holdings
The world’s biggest investment funds are cutting exposure to US and UK government bonds amid fears that rising public debt and the withdrawal of central bank support for their economies could scupper the global recovery.

Rise in factory orders spurs markets
Manufacturers around the world are at their most optimistic for almost four years after booking a sharp rise in new orders in December as Asia’s recovery spread to the US and Europe.

Companies and markets

Novartis seeks to complete Alcon buy-out
Novartis on Monday offered minority shareholders in Alcon the equivalent of $11.2bn in stock to buy out their shares, lifting the Swiss pharmaceuticals group’s total acquisition cost for the US eye care group to almost $50bn.

Merger news boosts European and US markets
The "Teens" opened with a bang as the first trading day of the decade delivered a $50bn healthcare deal and surveys showed the global manufacturing sector continued to rebound.


Front page

Behind Afghan bombing, an agent with many loyalties
The suicide bomber who killed eight last week in Afghanistan had been brought there by Jordanian intelligence to infiltrate the Qaeda organisation.

In Yemen, US faces leader who puts family first
President Ali Abdullah Saleh is amenable to US support, but the reach of his bureaucracy is limited and his willingness to battle Al Qaeda is questionable.


Dubai opens a tower to beat all
In the midst of a real estate crash, Dubai pulled out all the stops to celebrate the opening of the world’s tallest building.

Asian stock markets rise on optimism about global economy
Growing confidence about the global economy lifted Asian stocks to a fresh 17-month high on Tuesday as investors continued to be drawn to riskier assets.


Front page

Dealing with the Yemen dilemma
Ever since Al Qaeda began establishing a presence in Yemen, the impoverished Arab country has become the focus of Western intelligence agencies.

German women’s magazine ditches professional models
German women’s magazine Brigitte has declared it will no longer use professional models in its fashion shoots.


Front page

Secret Turkish-Israeli military alliance launches relations
Turkey’s "strategic alliance" with Israel may have evaporated in a most public way, its death broadcast live before an audience of millions watching last year’s Davos summit.

Mosque funded by lottery icon at centre of religious argument
A mosque in a busy Istanbul district is at the centre of an argument because it was founded by Nimet Özden, also known as lottery icon ‘Nimet Abla’.

Business and finance

Dubai opens tallest tower of the world
Dubai’s Sheikh Mohammed bin Rashid Al Maktoum opened the world’s tallest tower on Monday. It won’t be the world’s fullest.

Banks ‘under pressure’ on Ilısu project
After European nations pulled out of funding the proposed Ilısu Dam, the government is talking with two local banks for financing needs, says an environment group.


Front page

Poland and Slovakia economy leaders in 2010, says EC
The Polish economy will be one of Europe’s fastest growing in 2010, according to data released by the European Commission.

Poland’s inflation likely rose to 3.6% in December
According to preliminary data, Poland’s inflation likely rose to 3.6 % y/y in December from 3.3 % in November, the Finance Ministry announced on Monday.

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