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.

The sound scandal has among Word Bank’s stuff was caused by spontaneous behavior of its president: Wolfowitz has sharply raised wages of one of bank employees with whom he has been in close relations for a long time.
On Thursday it has been declared that the president of bank Paul Wolfowitz Paul tender resignation. The members of this association have called Wolfowitz to submit to resignation, declaring, that his actions will not be coordinated with struggle of bank against corruption all over the world.
As it has been in the World Bank employees association’ application, the top management calls for fair management and the top management should be an example of the behavior it defends. The scandal began after Paul Wolfowitz has sharply raised wages of one of bank employees with whom he has been in close relations.
Soon after he started to work in the World Bank (in 2005) he has lump sum increased the salary by 61 thousand dollars to his Libyan girlfriend Shaha Riza.
Such behavior contradicts the rules of bank providing   maximum lump sum increase in 30 thousand dollars.
In 2005 Riza has passed to work from the World Bank into the US State Department. Before leaving of the employee, her not taxed income made nearby 193 thousand dollars a year. For comparison - the income of the US state secretary Condoleeza Rice before the deduction of taxes makes 186 thousand dollars.
During the assembly of World  Bank employees association Paul Wolfowitz  has declared that he had made a mistake for which he deeply apologies, however, he has not expressed desire to leave the post, though he has noted, that he would agree with any decision, accepted by the Bank’s Council.
Now the commission, which should establish whether Wolfowitz has broken internal bank instructions, when he raised wages to his girlfriend, is being considered. 
 

According to the World Trade Organization’s data, promulgated today, the rates of world trade growth can decrease up to 6 % at the general economic growth in 3 %. In WTO experts’ opinion, in 2007 the economic can feel negative influence large trading misbalances this and also instability in the financial and real estate markets.
Growth of volume of world trade in 2006 has made 8 %, having surpassed the forecast of analysts of the Organization (7 %). Growth of foreign trade in developing countries has made 36 % in 2006.
Germany (1 place and 1,112 billion dollars), the USA, despite of the huge foreign trade deficiency (1,037 billion dollars), and China (969 billion dollars) have become the world export leaders in 2006.
Concerning world import leaders, these are the same 3 countries, however, the USA (1,92 billion dollars) are on the first place, Germany (910 billion dollars) is on the second place and China (792 billion dollars)occupies the third position.
The WTO analysts have stressed that, taking into consideration statistical calculations from 7 regions of the world, the most dynamical growth of foreign trade in 2006 has been noted on the territory of the former Soviet Union countries. In opinion of WTO experts such dynamics is caused by a world rise in prices on power resources and metals.
The WTO chief Pascal Lamy has noted that the growth of parameters of world trade in 2006 and in particular in developing and the less developed countries, inspires optimism.

Italian Enel SpA power company and Acciona SA building company have made the official joint offer on purchase of Spanish Endesa power company. The corresponding application has been directed today to Spanish CNMV market regulator.
The companies offer 41,3 euros (55,42 dollars) for Endesa’s share that evaluates the Spanish company approximately in 43,4 billion euro. Enel’s and Acciona’s offer is on 3,3 % above the offer of the German E.On power concern, which has estimated Endesa’s shares in 40 euros for each.
On the eve the board of Enel’s directors has approved Acciona’s offer on purchase of Endesa’s shares at the price of 41,3 euros per share. The transaction will be carried out according to the terms, which have been put forward by the companies on March, 26th, 2007.
Then Enel and Acciona have declared the intention to offer at least 41 euros/actions for Endesa. The purchase of Endesa is planned to be carried out by means of creation of holding, supervised by Acciona. Thus it was informed, that Enel and Acciona can make the joint offer on purchase of Endesa only in case that German E.On (within the limits of the merge) wont be able to lead its share in the Spanish company up to 50,01 %. Now the companies own 46 % of Endesa’s shares.
On April, 2nd, 2007 E.On has recognized the defeat in struggle for Endesa and has entered into the agreement with Italian Enel and Spanish Acciona in order to purchase Endesa. Thus E.On can receive Endesa’s assets for the sum of 10 billion euro in Spain, Italy, France, Poland and Turkey.
The German concern has entered the struggle for Endesa on February, 21st, 2006, having offered 29,1 billion euro money resources. According to the terms of the offer, the concern should consolidate not less than 51,01 % of shares of the Spanish company. In case of realization of transaction, E.On would turn to one of the largest gas and power concerns in the world.
In February 2007, the transaction on merge has been blocked by Italian Enel and Spanish Acciona, which managed to consolidate more than 45 % of Endesa’s shares.
Endesa has leading positions in the power market of Spain, Chile, Argentina, Colombia, and Peru. The company also works in Brazil, Italy, France, Portugal and Dominican Republic. The established capacity of its stations exceeds 42,9 thousand mW. Endesa is the second-largest gas operator in Spain, supervising 4,2 % of the adjustable market of gas of the country. In 2006 net profit of the company has decreased on 6,7 % - up to 2,969 billion euro in comparison with 2005. The operational profit has increased on 23,4 % - up to 5,239 billion euro, EBITDA - on 18,6 % - up to 7,139 billion euro.
 

There will be no “Gas OPEC” in the nearest future. But the exporters will start to discuss the price policy and, probably, to coordinate it in the nearest future. At a Doha forum leading suppliers of natural gas have decided to create of a high level group on pricing. Gas exporters have agreed on cooperation, but have avoided charges from the states-consumers in cartel arrangement and pressure upon the market.
A forum of the countries - exporters of gas is being held in Qatar now. The main item on the agenda relies in debugging of the mechanism of interaction of leading suppliers of natural gas.
The western experts are still talking about the potential threat of “Gas OPEC”. But the participants of forum disagree concerning the necessity of new gas cartel. Now the countries-exporters have made a decision on creation of group of a high level on pricing. Russia is expected to act as its major coordinator.
The group, which will be created from competent representatives of the countries - exporters of gas, should analyze the work Qatar forum and prepare themes for the future discussion, and also to represent offers concerning the creation of secretary.
Meetings of group will be held no less than 6 times a year. Its personal structure is not certain yet. It has been also decided that the group should consist of officials a rank not below the assistants to the ministers or directors of departments.
The western observers are afraid of creation of gas cartel. In opinion of fuel consumers, the exporters will receive additional levers for pressure upon the countries depending on import. Signing of cartel agreement would give additional arguments to the critics of cartel’s policy.
Iran and Venezuela act as the basic supporters of new “Gas OPEC”.
Nevertheless, neither Iran, nor Venezuela cannot be named leading exporters of gas though these countries have scale stocks, which are intended gradually to be developed. Iran now imports more fuel than, exports it, and Venezuela does not sell gas abroad at all.
Venezuela’s neighbors- Argentina and Bolivia- have supported the initiative of new cartel.
At the same time many participants of forum speak against “Gas OPEC”. Egyptian Minister of oil considers that the world is not ready for such gas organization.
Some ministers consider the creation of “Gas OPEC” inexpedient as the countries - manufacturers of gas carry out deliveries in different regions and establish the prices under long-term contracts on the basis of market quotations of oil.
 

The latest report of has shown that in the nearest future Russian enterprises of ferrous metallurgy can become the largest seller of quotas on emissions into the atmosphere of hotbed gases within the limits of Kyoto Protocol.
This message is based on the results of the last Bruxelles session of a subgroup on a mountain-metallurgical complex within the limits of dialogue on the industrial policy and business between the ministry of the industry and power of the Russian Federation and general management on business and the industry of Eurocommission, on which the questions connected with energy saving and decrease of negative influence on an environment in a mountain-metallurgical complex have been discussed.
The representatives of Russian party have declared that ferrous metallurgy possesses greater potential opportunities on decrease in power consumption of metal products and, hence, on decrease in emissions of hotbed gases and consequently can become the largest seller of decrease in emissions of hotbed gases.
As Russian representatives have noted, offers from investors of the EU countries and other industrially developed countries of the West about purchase at Russia of decrease in emissions of hotbed gases are necessary for forecasting volumes of quotas already now.
The representatives of Eurocommission have informed that in two months new specifications on influence on the environment will be developed for the enterprises of mountain-metallurgical branch of EU, and the complex of measures on support of the enterprises in realization of energy saving programs and modernizations of manufacture will be also prepared. It can lead to increase in demand at purchase of quotas according to the Kyoto Protocol.
 

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.

The coming global warming will bring tropical heat to the Europe. Such conclusion has been made by the scientists of Institute of the climatic researches in Germany.
In researchers opinion if the emission o carbonic gas in an atmosphere wont be reduced, the temperature on the Earth can raise on 5,4 degrees by 2200. In the summer in Germany the heat will reach 48 degrees of Celsius. The greatest part of territory of the country will suffer from a strong drought. Conducting agriculture becomes practically impossible in many areas of the country.
Disappearance of tropical woods in Amazonian can become one of consequences of global warming. Greenland and Arctic regions will remain without the ice cover. The level of World Ocean can rise on fifty meters in the long-term future. It will lead to flooding of many coastal areas.
The German scientists see an output from the situation in development of the alternative energy sources which will allow reducing the use of hydro carbonic raw material and nuclear fuel.
At this time queen Elizabeth the Second wishes to transform the palaces and castles in samples of power efficiency in order to give an example of struggle against global warming. In particular, in the Buckingham palace the majority of bulbs will be replaced with the energy saving bulbs. The project of the turbine on Thames is being developed - the main purpose of this experiment is to supply Queen’s palace with alternative electricity. Two Bentleys and two Rolls-Royces, belonging to royal family, can already work not only on gasoline, but also on natural gas.

Leading American manufacturer Boeing has received orders for more than 500 planes B-787 which is also known as a Dreamliner. Thus, B-787 became one of the most quickly bought up planes in the world.
The orders for Dreamliner have started to come since April, 2004. Thus till now B-787 has not made any flight. Tests of the liner will be started in August.
It has become known that 43 airlines from all worlds are among the customers of the plane. At present moment Japanese JAL Company has become the last customer. In view of its order Boeing has to construct 514 liners.
While no Russian airline did not order B-787. Earlier an opportunity of purchase of the American liners was declared by the Russian largest air carrier “Aeroflot”, however in the beginning of 2007 the company management has chosen A350 among the European Airbus Concern.
The main difference of B-787 from other long-distance liners is that it will consume up to 20 percent of fuel less, than modern planes do. Besides, the designing of the Dreamliner was completely conducted by means of a computer, without paper drawings. It has allowed Boeing to save significant financial and labor resources.
 

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.