WHAT THE OTHER PAPERS SAY THIS MORNING July 28, 2010 FINANCIAL TIMES ICBC SAYS IT WILL RAISE £4.26BN Industrial and Commercial Bank of China, the world’s largest lender by market value, said yesterday it planned to raise up to £4.26bn in a rights issue in Hong Kong and Shanghai to shore up its capital base. The rights issue is the latest in a string of [...]
Foreigners join FTSE 100 May 31, 2010 THE FTSE 100 will become even more multinational next week when up to three more foreign firms are promoted into the blue-chip index. Indian oil and gas firm Essar Energy is a racing certainty to step into the prestigious list of the top 100 UK-listed firms by market capitalisation. Gold miners African Barrick Gold and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 1, 2010 FINANCIAL TIMES GENERAL ELECTRIC CHIEF VENTS FRUSTRATION OVER CHINA The GE chief executive Jeff Immelt told Italian industrialists at a dinner on Wednesday that he was worried about the way Beijing was treating foreign companies. “I am not sure that in the end they want any of us to win or any of us to [...]
Making returns on the Russian rouble just got a whole lot easier May 4, 2010 AT THE end of last week, the Russian central bank chose to cut interest rates by 25 basis points to encourage loan growth and stimulate the economy – despite mounting concerns about inflationary pressures. Bank Rossii has been making it increasingly clear that the monetary easing cycle is now slowing. Indeed, finance minister Alexei Kudrin [...]
Growing calls for Cameron to support BP June 10, 2010 THERE were growing calls for David Cameron to throw his weight behind troubled oil major BP last night, but the Prime Minister appeared to side with the American government. London mayor Boris Johnson broke ranks to hit out at “the anti British rhetoric… permeating from America” and said the matter was of “great concern” because [...]
BP to ramp up production of Russian gas November 22, 2010 RUSSIA’s third largest oil firm, TNK-BP, said yesterday it was to invest $3.8bn (£2.4bn) in its gas business over the next three years in a bid to more than double production to 30bn cubic metres (bcm) by 2020. The oil firm, which is half-owned by British oil company BP, will invest $1.8bn between now and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 17, 2010 FINANCIAL TIMES UGANDA TAX ROW DELAYS HERITAGE SALE OF OIL FIELD Uganda is insisting that Heritage Oil, the UK-listed oil explorer, must agree to pay $360m (£243m) in capital gains tax on the “super profits” it will make on a $1.35bn oilfields sale before it will sanction the deal. Uganda’s energy minister said the government [...]
Osborne must show his true colours June 15, 2010 THERE will be plenty of banker-bashing from George Osborne when he delivers his first Mansion House speech to the City tonight. The audience of movers and shakers will barely notice; financiers are used to the abuse by now. Most of the proposals have been well trailed: a new levy on balance sheets (which could raise [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 22, 2010 FINANCIAL TIMES GUINEA THREAT OVER RIO DISPUTE The government of Guinea has raised the stakes in a dispute with Rio Tinto by threatening to strip the mining group of more of its rights to one of the world’s biggest undeveloped iron ore deposits. Officials in Guinea have been angered by what they see as Rio’s [...]
ENI to approve EDF entry into South Stream April 29, 2010 Eni should approve French utility EDF’s entry to its South Stream gas pipeline venture within weeks, giving a boost to the mammoth project which had appeared to be stalling as gas prices plunged. Eni chief executive Paolo Scaroni yesterday said the allocation of a stake to EDF did not necessarily have to be equally split [...]