Global Agenda articles from December 2004

Global Agenda archives from December 2004

A clouded outlook; World economy; The OECD's clouded outlook.(Organization for Economic Cooperation and Development)
December 1, 2004... Rising oil prices have dimmed the world economy's prospects, the OECD says in its latest economic outlook. But it is hard to put numbers on some of the biggest worries for the world economy EACH year, the 30 relatively wealthy nations of...

Towards a more relevant United Nations.
December 1, 2004... Long-awaited proposals on reforming the United Nations have been unveiled. Backers hope they will rejuvenate the world body. But they come at a time when the UN is under fire--especially from Americans, many of whom think it is irrelevant and...

Edging towards a solution.(Ukraine supreme court)
December 1, 2004... Victor Yushchenko, Ukraine's opposition leader, looks increasingly likely to achieve his demand for a re-run of the country's deeply flawed presidential election. He says internationally mediated talks between him and his rival, Victor...

The changing of the guard; Old France, new France; Sarkozy, Chirac and the battle of ideas.
December 2, 2004... As Nicolas Sarkozy takes over Jacques Chirac's party, it signals the beginning of a battle of ideas over the future of France IN THE summer of 1975, at a party congress in Nice, an energetic and ambitious young French centre-right prime...

A clouded outlook; World economy; The OECD's clouded outlook.
December 2, 2004... Rising oil prices have dimmed the world economy's prospects, the OECD says in its latest economic outlook. But it is hard to put numbers on some of the biggest worries for the world economy EACH year, the 30 relatively wealthy nations of...

Making the wrong sort of capital; American business; CalPERS loses its leader as corporate America makes a comeback.
December 2, 2004... The ousting of Sean Harrigan as president of CalPERS, America's largest pension fund, may say as much about the changing mood towards corporate regulation as it does about his misplaced activism IS THE regulatory wind in America starting...

Edging towards a solution.
December 2, 2004... Victor Yushchenko, Ukraine's opposition leader, looks increasingly likely to achieve his demand for a re-run of the country's deeply flawed presidential election. He says internationally mediated talks between him and his rival, Victor...

Barghouti stands, Sharon stumbles.
December 2, 2004... Palestinian and Israeli politics have both been thrown into turmoil, with Marwan Barghouti, a prominent young Palestinian leader, challenging his party's candidate for the presidency and Israel's coalition government crumbling HOPES of a...

A clouded outlook; World economy; The OECD's clouded outlook.(Organisation for Economic Co-operation and Development)
December 3, 2004... High oil prices have dimmed the world economy's prospects, the OECD says in its latest economic outlook. But it is hard to put numbers on some of the biggest worries for the world economy EACH year, the 30 relatively wealthy nations of the...

Making the wrong sort of capital; American business; CalPERS loses its leader as corporate America makes a comeback.
December 3, 2004... The ousting of Sean Harrigan as president of CalPERS, America's largest pension fund, may say as much about the changing mood towards corporate regulation as it does about his misplaced activism IS THE regulatory wind in America starting...

Barghouti runs, Sharon stumbles.
December 3, 2004... Palestinian and Israeli politics have both been thrown into turmoil, with Marwan Barghouti, a prominent young Palestinian leader, challenging his party's candidate for the presidency and Israel's coalition government crumbling HOPES of a...

Calling for a rapid re-run; Ukraine's disputed election; The Supreme Court sides with Yushchenko.
December 3, 2004... Ukraine's Supreme Court has scrapped last month's fraudulent presidential election and ordered a re-run later this month. It is a victory for Victor Yushchenko, the opposition candidate, and a crushing blow for both Leonid Kuchma, the outgoing...

Still locking horns in Kiev.(Ukraine's controversial presidential election)
December 6, 2004... More than a fortnight after Ukraine's disputed presidential election, both sides are still at odds over how to move forward. But Victor Yushchenko, the opposition candidate, has the upper hand following a Supreme Court ruling that ordered a...

Still locking horns in Kiev.(Ukraine's disputed presidential election)
December 7, 2004... More than a fortnight after Ukraine's disputed presidential election, both sides are still at odds over how to move forward. But Victor Yushchenko, the opposition candidate, has the upper hand following a Supreme Court ruling that ordered a...

Afghanistan's George Washington?(Hamid Karzai has been sworn in as Afghanistan's first elected president)
December 7, 2004... Hamid Karzai has been sworn in as Afghanistan's first-ever elected president--a happy moment for a country that has known decades of desperation. But with much of the country run by warlords and awash in drugs, Mr Karzai has his work cut out...

The case for Asia.(foreign investment)
December 7, 2004... Foreign investors have been pouring money into Asian shares. For once, their bets may pay off TO THE probable surprise of those who think of this column merely as a font of scepticism, there are indeed a few markets for which Buttonwood...

Warm-up lap; Motor racing; A victory for the banks that own, but do not yet control, Formula One.
December 7, 2004... The banks that own part of the organisation behind motor racing's Formula One championship, and which are trying to gain control of it, have won a victory in court. But there is still a long way to the chequered flag WHILE the ten motor...

At last, a bill for Bush to sign.(George W. Bush)
December 7, 2004... America's Congress is ready to send George Bush an intelligence-reform bill, and the president has promised to sign it. It will be the biggest overhaul of the spy services since 1947. Its main planks, such as the creation of a powerful new...

Warm-up lap; Motor racing; A victory for the banks that own, but do not yet control, Formula One.
December 8, 2004... The banks that own part of the organisation behind motor racing's Formula One championship, and which are trying to gain control of it, have won a victory in court. But there is still a long way to the chequered flag WHILE the ten motor...

At last, a bill for Bush to sign.
December 8, 2004... America's Congress is ready to send George Bush an intelligence-reform bill, and the president has promised to sign it. It will be the biggest overhaul of the spy services since 1947. Its main planks, such as the creation of a powerful new...

Compromise in Kiev, confrontation abroad.
December 8, 2004... Ukraine's parliament has passed a package of constitutional amendments that pave the way for a re-run of the country's fraudulent presidential election on December 26th. But as tensions over the disputed poll ease somewhat in Kiev, they are...

Warm-up lap; Motor racing; A victory for the banks that own, but do not yet control, Formula One.
December 9, 2004... The banks that own part of the organisation behind motor racing's Formula One championship, and which are trying to gain control of it, have won a victory in court. But there is still a long way to the chequered flag WHILE the ten motor...

At last, a bill for Bush to sign.(George W. Bush)(intelligence reform bill)
December 9, 2004... America's Congress is ready to send George Bush an intelligence-reform bill, and the president has promised to sign it. It will be the biggest overhaul of the spy services since 1947. Its main planks, such as the creation of a powerful new...

Compromise in Kiev, confrontation abroad.(Ukraine's parliament's regulation)
December 9, 2004... Ukraine's parliament has passed a package of constitutional amendments that pave the way for a re-run of the country's fraudulent presidential election on December 26th. But as tensions over the disputed poll ease somewhat in Kiev, they are...

Visions of unity; South American summits; The region dreams of political and economic unity.
December 9, 2004... At a summit in Cuzco, Peru, Latin American leaders have founded a "Community of Nations" that could one day become the region's equivalent of the European Union. But another summit, to be held next week, will highlight strains in Mercosur,...

At last, a bill for Bush to sign; America's spies; Intelligence reform comes in from the cold.
December 10, 2004... America's Congress is ready to send George Bush an intelligence-reform bill, and the president has promised to sign it. It will be the biggest overhaul of the spy services since 1947. Its main planks, such as the creation of a powerful new...

Compromise in Kiev, confrontation abroad.
December 10, 2004... Ukraine's parliament has passed a package of constitutional amendments that pave the way for a re-run of the country's fraudulent presidential election on December 26th. But as tensions over the disputed poll ease somewhat in Kiev, they are...

Fools rush in; The CAO derivatives fiasco; Fuelling doubts about Chinese corporate governance.(China Aviation Oil Supply Corp.)
December 10, 2004... China Aviation Oil's huge losses in oil futures are a reminder of the risks of investing in Chinese companies CRASH landings do not come much more spectacularly than that of China Aviation Oil (CAO). The Singapore-listed subsidiary of...

Expensive tastes.
December 10, 2004... At its meeting in Cairo on Friday, OPEC agreed to pare back production to support the oil price, which has fallen towards $40 per barrel in recent weeks. Has the producers' cartel acquired a taste for pricey oil? JOSEPH, one of history's...

Together, at last; PeopleSoft and Oracle; A long, bitter struggle ends in an embrace.
December 13, 2004... After a battle lasting a year and a half, Oracle has finally won the hand of a reluctant PeopleSoft. It is more interested in PeopleSoft's customers than in its technology. However, the big winner is neither company, but German rival SAP ...

Expensive tastes; OPEC; A cartel with expensive tastes.
December 13, 2004... At its meeting in Cairo on Friday, OPEC agreed to pare back production to support the oil price, which has fallen towards $40 per barrel in recent weeks. Has the producers' cartel acquired a taste for pricey oil? JOSEPH, one of history's...

Unequal attraction; Stock exchanges; Germany's bourse tries again to woo the London Stock Exchange.
December 14, 2004... After being rebuffed once before, Germany's Deutsche Borse is again making eyes at the London Stock Exchange. Can both sides forget their differences and make a partnership work? IF AT first you don't succeed, try again. So it is with...

The ghost of crashes past.
December 14, 2004... Your columnist signs off, wishing one and all a merry Christmas, but forecasting a not-so-happy 2005 for the financial markets IT HAS been an emotional time for the family Buttonwood these two weeks past. Your columnist's two daughters were...

The cost of borrowing.
December 15, 2004... The Federal Reserve has raised American interest rates by another quarter of a percentage point--its fifth hike this year. Will the federal government now do something about the cost of its borrowing? UNLIKE most of George Bush's White...

The hunted giant's last gasp?
December 15, 2004... Forced into a corner by government demands for back tax, Yukos, Russia's largest oil company, is not giving in without a fight. It has filed for bankruptcy protection in America, in the hope of preventing the forced sale of its main subsidiary,...

The hunted giant's last gasp?
December 16, 2004... Forced into a corner by government demands for back tax, Yukos, Russia's largest oil company, is not giving in without a fight. It has filed for bankruptcy protection in America, in the hope of preventing the forced sale of its main subsidiary,...

A lot to swallow.
December 16, 2004... On Friday, the European Union's leaders are expected to agree to start membership talks with Turkey. But they will do so with trepidation, for their rich western club will find it difficult to absorb such a big, poor Muslim country THE...

The hunted giant's last gasp?
December 17, 2004... Forced into a corner by government demands for back tax, Yukos, Russia's largest oil company, has filed for Chapter 11 in America, in the hope of preventing the forced sale of its main subsidiary, and the bankruptcy court has put a temporary...

A date with Turkey.(Economic unions)
December 17, 2004... At a summit in Brussels, the European Union has agreed to start accession talks with Turkey next October. But the tone of the summit suggests that the road to Turkish membership will be long and full of potholes THE European Union will...

More twists and turns; The forced sale of Yukos's main subsidiary; And the winner is...a company you've never heard of.
December 19, 2004... The forced sale of Yukos's main subsidiary has gone ahead, despite a court ruling in America seeking to block the sale temporarily. The winning bidder, Baikal Finance Group, may or may not have links to Gazprom, Russia's gas giant THE saga...

More twists and turns; The forced sale of Yukos's main subsidiary; And the winner is...a company you've never heard of.
December 20, 2004... The forced sale of Yukos's main subsidiary has gone ahead, despite a court ruling in America seeking to block the sale temporarily. The winning bidder, Baikal Finance Group, may or may not have links to Gazprom, Russia's gas giant THE saga...

At last, President Yushchenko.(Victor Yushchenko)
December 28, 2004... With the victory of Ukraine's opposition leader, Victor Yushchenko, in the re-run presidential election, the country's political crisis is almost over. Now for the hard part WAS it a revolution? For some hard-to-impress observers, Victor...

All together now.
December 28, 2004... From 2005, more than 90 countries will either permit or require their quoted companies to present their accounts according to international financial reporting standards. This is a bigger step than many firms, or their shareholders, seem to...

Unquotable.
December 28, 2004... On January 1st, trade in clothes and textiles will be free of the quotas that have bound it for the past 30 years. In many poor countries, the industry will have to fight to survive. In rich countries, it will only have to lobby harder ...

Deluged without warning.
December 28, 2004... With the death toll from South Asia's tsunamis at almost 60,000 and still rising, there have been calls for a system to alert countries bordering the Indian Ocean when undersea earthquakes happen. This might help reduce the casualties, though...

Struggling to bring relief to the survivors.
December 28, 2004... As the death toll from the Indian Ocean tsunamis soars to 150,000, the biggest relief operation in history is starting to reach some of the most isolated areas affected. But aid efforts still lack co-ordination and many thousands more may die...

At last, President Yushchenko.(Victor Yushchenko)
December 29, 2004... With the victory of Ukraine's opposition leader, Victor Yushchenko, in the re-run presidential election, the country's political crisis is almost over. Now for the hard part WAS it a revolution? For some hard-to-impress observers, Victor...

First the giant waves, next the epidemics.(Indian Ocean Earthquake and Tsunami, 2004)
December 29, 2004... The Red Cross says the death toll from the Indian Ocean tsunamis may top 100,000. Though the giant waves have receded, tens of thousands more may die from disease and hunger unless aid reaches them in time SO MASSIVE was the undersea...

Plumbing the depths.
December 29, 2004... The dollar has hit another record low against the euro. It is set for further falls against major currencies in the coming year, even though American interest rates will rise FORECASTING exchange rates, warns Alan Greenspan, the chairman of...

A year of opportunity for Sharon and Abbas; Israelis and Palestinians; A year of opportunity.(Ariel Sharon and Mahmoud Abbas)
December 29, 2004... Ariel Sharon and Mahmoud Abbas, the Israeli and Palestinian leaders, should start 2005 with new governments and a new opportunity for peace. Will they grasp it? BOTH the Israeli and Palestinian leaders are beefing up their power in the...

At last, President Yushchenko.(Victor Yushchenko)
December 30, 2004... With the victory of Ukraine's opposition leader, Victor Yushchenko, in the re-run presidential election, the country's political crisis is almost over. Now for the hard part WAS it a revolution? For some hard-to-impress observers, Victor...

The race to aid the tsunami survivors.
December 30, 2004... The death toll from the Indian Ocean tsunamis has soared to above 120,000 with the discovery of huge numbers of further victims in the Indonesian province of Aceh. Though the biggest relief operation in history is under way, tens of thousands...

Plumbing the depths.(economic conditions)
December 30, 2004... The dollar has hit another record low against the euro. It is set for further falls against major currencies in the coming year, even though American interest rates will rise FORECASTING exchange rates, warns Alan Greenspan, the chairman of...

A year of opportunity for Sharon and Abbas; Israelis and Palestinians; A year of opportunity.(Ariel Sharon and Mahmoud Abbas)
December 30, 2004... Ariel Sharon and Mahmoud Abbas, the Israeli and Palestinian leaders, should start 2005 with new governments and a new opportunity for peace. Will they grasp it? BOTH the Israeli and Palestinian leaders are beefing up their power in the...

The race to aid the tsunami survivors.(Natural disaster damage)
December 31, 2004... The death toll from the Indian Ocean tsunamis has soared to above 120,000 with the discovery of huge numbers of further victims in the Indonesian province of Aceh. Though the biggest relief operation in history is under way, tens of thousands...

A year of opportunity for Sharon and Abbas; Israelis and Palestinians; A year of opportunity.(Ariel Sharon and Mahmoud Abbas)
December 31, 2004... Ariel Sharon and Mahmoud Abbas, the Israeli and Palestinian leaders, should start 2005 with new governments and a new opportunity for peace. Will they grasp it? BOTH the Israeli and Palestinian leaders are beefing up their power in the...