In Thursday's Europe papers

22 November 2007 06:00  [Source: ICIS news]

LONDON (ICIS news)--These were the top stories at 06:00 GMT in the following European newspapers’ online versions on Thursday. ICIS has not verified these stories and does not vouch for their accuracy. To go to the individual websites, click the links below:

Financial Times
Front page

ArcelorMittal to control Chinese steelmaker
ArcelorMittal, the world’s largest steelmaker, has improved its strong position in the industry by becoming the first foreign company to take a controlling stake in a Chinese steel concern.

Fears of slowdown in US hit markets
A growing realisation that the global economy will not escape a US slowdown saw stocks around the world tumble on Wednesday while investors sought safety in government bonds.

Companies and markets

DP World raises $5bn in region’s biggest IPO
Dubai’s DP World, the world’s fourth-largest container terminal operator, on Wednesday raised almost $5bn (€3.3bn) in the Middle East’s biggest initial public offering, valuing the group at $21.6bn.

Mortgage fears depress Wall Street
US stocks received another bruising on Wednesday amid mounting worries about the US economy. As the dollar hit new lows and crude oil set a record above $99 (€66), stocks were on the defensive with fears of a retail slowdown weighing on sentiment before the Thanksgiving holiday.

International Herald Tribune
Front page

South Koreans visit their own killing fields
Shortly after the outbreak of the Korean War in June 1950, Kim Man Sik, a military police sergeant, received an urgent radio message from the South Korean Army's Counter-Intelligence Corps: Go to local police stations, take custody of scores of Communist suspects held there and execute them.

Australians expected to vote John Howard out of office on Saturday, polls find
Australia is likely to draw the curtain on 11 years of government by the center-right coalition of Prime Minister John Howard when general elections are held Saturday, polls indicate.

Marketplace

Asia stocks fall as oil passes $99 amid fear of US slowdown
Global stock markets were pummeled Wednesday as investors pondered whether the US economy would slow more than expected and as oil prices flirted with $100(€67)/bbl.

EU officials propose ban on genetically modified corn seeds
EU environment officials have determined that two kinds of genetically modified corn could harm butterflies, modify food chains and disturb life in rivers and streams, and they have proposed a ban on the sale of the seeds, which are made by Pioneer Hi-Bred, Dow Agrosciences and Syngenta.

The Moscow Times
Front page

Putin address lambastes opponents
In one of his most aggressive attacks on opponents to date, President Vladimir Putin on Wednesday accused foreign governments and domestic opposition of seeking to turn Russia into a "weak, ill" state and warned against the possible return of oligarchs to Russia.

New law targets dogs, seers and card sharks
If you're thinking of taking your dog down to the schoolyard for a walk or playing cards with the boys in your courtyard, be warned: These seemingly innocuous pastimes could soon dent your pocketbook.

Business

Storchak's allies call for his release
Lawyers and colleagues of Deputy Finance Minister Sergei Storchak mounted a fierce defense of the imprisoned official Wednesday, calling for his immediate release as he faces charges of attempted embezzlement.

Gazprom, Eni to ink pipe deal
Gazprom and Italy's Eni will sign a deal on Thursday confirming their plan to build a new pipeline to supply Russian gas to Europe, industry sources said.

Der Spiegel
Front page

Can his recipe for New York work for the world?
By all rights, Rudy Giuliani has every reason to be cheerful and relaxed, as 3,000 Italian-Americans dressed in tuxedoes and evening gowns celebrate their hero, the legendary former mayor of New York, in the ballroom of the Washington Hilton. His supporters are firmly convinced that "Rudy" will soon become the mayor of the entire country.

The Russian parliament's intellectual giants
The Russian parliament, or State Duma, is widely viewed as a low-maintenance parliament. Its members are noted for their subservience to the wishes of the Kremlin. Independent thinking, passionate debates or moments of intellectual brilliance, on the other hand, are not high on their list of attributes.

Turkish Daily
Front page

Western border battles flood
Turkey's Edirne province, 150 kilometers west of Istanbul, has become the scene of severe flooding following the release of excess water from Bulgarian dams, with road access being cut off in certain parts of the region.

Turkey backs Musharraf's rule
Turkey has extended its support for the "democratization process" of Pakistan's military ruler Pervez Musharraf, whose country has been witnessing internal turmoil after he declared a state of emergency on 3 November.

Business and finance

Taris urges support for Turkish brands
Turkish brands should be supported in international markets, said Cahit Cetin, Taris Olive and Olive Oil Union administrative committee president.

Bank credit swaps rise on subprime concern
The risk that banks and brokerages from Citigroup to Bear Stearns will default on their debt is accelerating as analysts increase their estimates of losses from subprime mortgages, credit-default swaps show.

Warsaw Business Journal
Front page

Soldiers under orders to fire on Afghan villages?
The Polish peace troop scandal in Afghanistan has taken another turn, with Gazeta Wyborcza claiming that an order to mortar as many as three Afghan villages was made before the Polish troops even left the military base Wazi-Kwa, and certainly before the soldiers hit the mine.

Faulty law clogs courts and lets mafia off the hook
Around 1,500 trials of organized crime groups have been on hold since July, and due to the delay it is possible that they will have to be restarted or dismissed altogether.

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Author: Staff Reporter
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