Business & Financial News

The most “developed” countries even more often are interested in the Russian explorations in the field of an atomic energy. For example, Japan which perceived the western neighbor only as the raw market earlier, is going to import enriched uranium from Russia now.
Tokyo fish market is the world’s largest stock exchange of seafood and one of the most popular attractions in the world. Every morning foreign tourists look how large fish becomes a dish.
The well-known tuna auction is being periodically carried out. The behavior of the auctioneer reminds ritual Japanese tea ceremony.
Till now Russia for Japanese economy is the same, that the seller of a fish in the Tokyo market. The Russian companies sell mainly raw materials, seafood and wood or metal to Japan. But, it turns out that even the so hi-tech Japan can require another’s high technologies.
All light of the Japanese economy was built on bow to organizers of the International atom-industrial forum, which is being held in the north of island Honshu. The Russian businessmen can only observe local rituals.
The well-known Tokyo skyscrapers and sparkling fires is a show-window of the Japanese economic power. Japan is compelled to build new nuclear stations in order to make the power supply coincide with growth of economy. The only problem is that Japan has no stocks of raw material, natural uranium.
Sergey Kirienko, head of Rosatom, has noted that this country is completely deprived with power resources. And it is very expensive to bring gas and oil to Japan. And the consumption level of the electric power is continuing to grow. Therefore Japan does not have other way but to increase a share of atomic engineering.
Russia has enough natural uranium. Techsnabexport, Russia’s state nuclear materials exporter possesses of 40 percent of world capacities on enrichment of uranium. The only problem is that Japan and Russia are officially in a condition of an armistice now.
At meetings with the chapter of the Japanese Ministry of Foreign Affairs Russian politicians have finally agreed to sign the agreement in the field of atomic engineering not waiting the conclusions of the peace treaty.
Sergey Kirienko has also noted that Russia is ready to support the initiative, stated by the government of Japan last year and to allocate additional stock of low enriched uranium for creation of the guaranteed warehouses in Japan.

According to the informal data, the consortium led by CVC Capital Partners Investment Company is going to withdraw the offer on purchase of J.Sainsbury British retail network for 18,75 billion dollars.
As it has become known, the consortium will refuse from the purchase, as on a background of the information on possible merge the cost of Sainsbury’s shares (from the middle of February 2007) has grown approximately on 30 % - up to 561 pence (11,06 dollars). This figure is above 560 pence (11,04 dollars), which were offered for each J. Sainsbury’s share with a consortium of investors in February.
According to the alternative information data the largest shareholders of the company do not see sense in the transaction while investors will not offer at least 600 pence (11,83 dollars).
Besides CVC, the consortium includes Blackstone Group International Ltd. and Texas Pacific Group and other companies. Till April, 5th the consortium also possessed Kohlberg Kravis Roberts and Co. Ltd. Investment Company, however, then it has refused participation in possible J. Sainsbury’s purchase. It is necessary for consortium to get the support from the board of J. Sainsbury’s directors till April, 13th - the deadline, established by the British adjusting bodies.

Last night five European countries (Romania, Serbia, Croatia, Slovenia and Italy) have signed the agreement on construction of the pipeline from the Black Sea coastline up to Italy. This pipeline will deliver oil from the Caspian pool to the countries of the European Union.
The project will be carried out within the limits of the general strategy of the EU directed on reduction of its power dependence on Russia and other Near East countries.
The pipeline should pass from port Constance (Romania) up to Trieste in Italy; its length will make 1400 km. The experts foresee that the realization of this project will manage in $3, 5 billion and it is supposed, that by 2012 about 90 million tons of oil a year will be pumped over this oil pipeline.
According to the EU Power commissioner this project will be carried out “according to the policy of diversification and a safety of power deliveries by modernization and construction of a new power infrastructure”. The EU considers Caspian Sea as a region which will supply its markets with oil.
However, it is not the first attempt to adjust the delivery of the Caspian oil to the Western Europe, bypassing the territory of Russia. Last year Baku-Tbilisi pipeline, which passes through the territory of three countries - Azerbaijan, Georgia and Turkey- has been constructed. In 2002 in Ukraine construction of the pipeline, which settlement capacity made 14 million tons of oil a year, has been completed. Now it is a high time for the EU to demonstrate its independence from Russian power policy.

European space concern EADS and the Russian Incorporated Aircraft manufacturing Corporation (IAC) have concluded the agreements defining key parameters of further cooperation. The Russian party possesses 5 percent of the European concern’s shares. The amount of works on designing and manufacture of liner A-350, carried out by the Incorporated Aircraft manufacturing Corporation will be proportional. The total cost of the project makes 10 billion euro.
The Aircraft manufacturing Corporation will also share the risks with other participants of concern. The IAC’s share will remain the same and will make 5 percent. The details, which are planed to be produced in Russia, are being discussed now.
EADS and IAC are measured to establish joint ventures for alteration of passenger planes of family A-320 in cargo in Germany (Dresden) and Russia (Moscow). Russia, being the high-grade partner, is to receive incomes of sales of planes A-350, first of which are to be sold to their customers by 2013.
 

The European Union and the USA should unite economic power. Such information has been declared today by German Chancellor Angela Merkel at the international conference on transatlantic partnership.
From Merkel’s point of view ( of the head of the government of Germany is presiding in the European Union)  joint activity of business-structures of the Europe, the USA and Canada have much stronger power and influence, than their “single” struggle and it will allow to make a lot of “reasonable” economic reforms in the world.
Angel Merkel has called to do away with existing obstacles and to strength cooperation in development of new products. Merkel considers that closer transatlantic partnership will allow opening a new era in attitudes between the EU and the USA.
At the same time the German Chancellor has warned against unilateral steps in the defensive policy on a background of plans of the USA to place elements of the system of antimissile defense in the East Europe. Merkel has declared that it is always necessary to attach significance to frank discussion of all questions to avoid intensity and nobody can separately cope with new calls. On Merkel’s belief, it concerns both the European Union and the USA.

Russia and Belgium have entered into the intergovernmental agreement on the international automobile communication. As it became known, the document has been signed on Friday on results of negotiations of prime ministers of Russia and Belgium.
Making comments on the signed document, minister of transport of the Russian Federation Igor Levitin has explained journalists, that this agreement creates more favorable conditions for automobile carriers of both countries which are carrying out the international transportations and pawns a basis for the further growth of volumes of transportations of cargoes and passengers between Russia and Belgium.
Besides, the minister has noted that it simplifies procedure of entrance of the Russian and Belgian vehicles in territory of both states. Also, Levitin considers that this agreement will promote integration Russian auto carriers in the European transport market.
Levitin has informed that before this agreement the international transportations between Russia and Belgium were carried out on the basis of the intergovernmental agreement of 1973, in which the question of the third countries carriers work has not been settled. The minister has explained that this question is solved in the new agreement. Now these carriers should receive the sanction at Russia or Belgium.
Let’s remind that the volume of cargoes transportations between Russia and Belgium made 480 thousand tons in 2006.

On Monday the IMF, which analyzes the information acting from central banks of the developed states of the world, has declared appreciable decrease in a share of dollar accumulation in reserves of the countries - oil exporters. The weakening dollar is being gradually replaced with euro, yen and pound sterling.
According to the latest data, volumes of dollar reserves of the OPEC countries, which provide up to 40 % of a world oil recovery, and also Russia in the second quarter 2006, have decreased with 67 up to 65 %. In the middle of the last year the share of the American currency made 70 %. Thus the share of euro has grown with 20 up to 22 %. Leaders of oil export understand, that the increase in volumes of the European currency in the state reserves will even more weaken dollar, therefore central banks avoid unduly advertising manipulations with currency accounts.
The experts consider, that the gradual transition to other currencies - the compelled measure as the lion’s share of all co-oil calculations and is made in becoming cheaper American currency. The purpose is to avoid depreciation of incomes of export of oil. Change in the structure of foreign financial actives is the rational answer of oil-producing countries to falling of cost of US dollar, especially if there is a sensation of that falling will proceed. When there is an uncertainty concerning the future dollar, these countries show the tendency to diversification foreign currency portfolio.
The central banks will adhere to the tendency on increase in euro and yens reserves, but the dollar for a long time will continue to remain the dominating reserve currency.

The Eurocommission considers the construction of the North-European gas main on a bottom of Baltic Sea from Russia to Germany as the priority project which can provide access to the Russian gas of the countries Northern, Western and the East Europe.
Making comments on requirements of Poland and the Baltic states to lead ecological examination of this project, the representative of Eurocommission has informed that shareholders of the project are engaged in its organization. As he said, the Eurocommission considers observance of ecological norms as “the important priority” during realization of the project.
As the former chancellor of Germany, holding a post of chairman of the shareholders council, of Nord Stream Company, realizing the project of the North-European gas main, has declared at press conference in Bruxelles that the company is measured to finish ecological examination of the project in the 3-rd quarter of this year. He has assured that Nord Stream Company understands fears which are stated by Poland and the Baltic states. Nevertheless, everyone is aimed at development of mutually acceptable decisions with all interested parties.
“Gazprom”, Wintershall and E.ON Ruhrgas are the shareholders of Nord Stream Company. The company plans to start the exploitation of an underwater gas main by extent of 1200 km in the beginning of 2010.

The new oil-and-gas giant - the Norwegian company created on the basis of merge Statoil and Hydro, - can make a serious competition of Russia in the market of deliveries of power resources in the countries of the continental Europe. Norway provides 15 % of all energy sector of the Western Europe. By estimations of scientists, resources of a continental shelf of the country are still being developed, thus, as it is considered now, the basic unknown reserves are concentrated in Barents Sea near the Russian border.
Long-term cooperation with Russia is one of mainstreams of the Norwegian foreign policy in the Far North. This information was declared by Odd Roger Enoksen the Oil Industry and Energy Minister of Norway. The minister said that Russia and Norway are large manufacturers of oil and gas, and they are also the neighbors in the North and share the responsibility for resource management of the Barents Sea.
The Minister has also mentioned that the Norwegian government will continue the implementation of the Norwegian oil-and-gas industry extensive support and will try to cooperate with Russia in this sector.
Roger Enoksen expects that in the nearest future the export of the Norwegian gas will reach 125-140 billion cubic meters; this will become possible, if new gas areas (Ormen Lange and Snevit) will be explored.
Enoksen has also stressed that Norwegian government does not support the idea of one more gas-exporters alliance establishment and insists just on mutual cooperation.

Mohammad Saidi, the vice president of the Iranian Atomic Energy Organization, has declared, that more than 90 % of projects of cooperation of Teheran with the International Atomic Energy Agency (IAEA) are continuing to be worked out.
The IAEA has decided to cut almost by half projects of the technical assistance to Iran; about 22 of 55 projects of cooperation in nuclear area with Teheran are practically being frozen.
Thus the Iranian representative has specified that the remained 10 % of projects will be considered at subsequent IAEA’s sessions.
According to Saidi these projects are rather minor and insignificant.
The decision of the IAEA is based on the resolution of UNO’s Security Council 1737, accepted in December, 2006. The final decision will be accepted on Advice of IAEA managing directors in March, 2007.
In 1997 Iran received from the Agency the technical assistance, concerning 20 projects, including regulations in the field of nuclear safety, peace atomic engineering, and reception of radioisotopes for the medical purposes.
In Teheran the IAEA’s latest decision is considered as the reduction of Iran’s cooperation with this international organization.