Global Agenda articles from January 2006

Global Agenda archives from January 2006

Russia turns off the gas taps; Russia cuts off the gas to Ukraine; Putin's big freeze.
January 2, 2006... Gas supplies are being affected across Europe after Russia cut off supplies to Ukraine. Russia is now accusing Ukraine of stealing gas, while the European Union, which gets much of its energy supplies from Russia, has called an emergency...

Gaza slides closer to chaos; Turmoil among the Palestinians; Further chaos in Gaza as police attack government buildings.
January 2, 2006... In the latest sign that the Palestinian Authority is failing to take control of the Gaza Strip after Israel's withdrawal, dozens of policemen have stormed government offices in Rafah, while gunmen have blown up a United Nations club in Gaza...

Sweet spot.(Japan)
January 3, 2006... It'll have its scares, but Japan is still the best story in town AN ACQUAINTANCE of Buttonwood's, an economist at a great investment house, is just back from a round-the-world road show to charm clients about Japan. Everywhere he went, he...

A sober new year.
January 3, 2006... The bonus season on Wall Street is big but quiet AS 2005 ended, it did not appear to be a particularly good year in America's financial markets. Returns on equities were modest, returns on debt (broadly measured) almost negligible. For...

Putin turns the taps back on.
January 3, 2006... International pressure has prompted Russia to restore gas supplies on its pipelines through Ukraine, though the two countries' price row remains unresolved. European countries hit by the temporary cut-off are wondering if Russia can be relied...

Gaza slides closer to chaos; Turmoil among the Palestinians; Further chaos in Gaza as a border crossing is gripped by violence.
January 4, 2006... In the latest sign that the Palestinian Authority is failing to take control of the Gaza Strip after Israel's withdrawal, the Rafah border crossing is in violent disarray, while gunmen have blown up a United Nations club in Gaza City. Despite...

A murky deal ends the Russian gas row; Russia's gas row with Ukraine; A murky deal to save face all round.
January 4, 2006... Russia and Ukraine seem to have ended their row over the price of gas, which had briefly threatened energy supplies across Europe. But the deal they have reached is a murky one--and doubts remain over Russia's reliability as an energy supplier...

The Iraqi economy's weak heart; Iraq's oil industry; Not enough pumping at the heart of the economy.
January 4, 2006... Days after the sacking of Iraq's oil minister, following a row over fuel subsidies, figures have been released showing that the country's oil exports in 2005 were below the previous year's level. Thanks to insurgency and under-investment, the...

Gaza slides closer to chaos; Turmoil among the Palestinians; Further chaos in Gaza as a border crossing is gripped by violence.
January 5, 2006... In the latest sign that the Palestinian Authority is failing to take control of the Gaza Strip after Israel's withdrawal, the Rafah border crossing is in violent disarray, while gunmen have blown up a United Nations club in Gaza City. Despite...

Ahmadinejad's nuclear gamble; Iran and the world; Taking another step towards a nuclear showdown.
January 6, 2006... Eliciting international criticism, Iran this week said it will resume nuclear research, perhaps on January 9th. America and others say the Islamic country is developing a covert nuclear weapons programme and the UN's nuclear watchdog is growing...

Climbing sharply out of the slump; Aircraft manufacturers; Boeing leaves Airbus in its slipstream after a bumper year.
January 6, 2006... Boeing booked more than a thousand orders for new aircraft in 2005 and is thus certain to outsell Airbus, its European arch-rival, for the first time in years. But both planemakers have reason to celebrate, for now at least, as the airline...

The greenback's sinking feeling; Currencies; The dollar's sinking feeling.
January 6, 2006... The American currency made a weak start to the year, suffering its biggest two-day drop against the euro in two years. Its slide could be unexpectedly steep FOR Bill Gates, Warren Buffett and many Wall Street number-crunchers, the dollar...

Turkey takes fright as bird flu heads towards Europe; Bird flu heads towards Europe; Turkey takes fright as its government confirms a batch of human cases.
January 9, 2006... The deaths of three children from bird flu in eastern Turkey--the first outside South-East Asia--and official confirmation that some 14 Turks are infected with the deadly H5N1 strain of the virus have spread anxiety in Europe and the Middle...

What comes next? Israel's gravely ill prime minister; The Middle East is forced to look beyond Sharon.(Ariel Sharon )
January 9, 2006... Ariel Sharon continues to fight for his life after suffering a massive stroke last week. With the Israeli prime minister gone from the political landscape, who will now set the agenda for the Middle East? ON MONDAY January 9th, five days...

Turkey takes fright as bird flu heads towards Europe; Bird flu creeps towards Europe; Turkey takes fright as its government confirms a batch of human cases.
January 10, 2006... The deaths of three children from bird flu in eastern Turkey--the first outside South-East Asia--and official confirmation that some 14 Turks are infected with the deadly H5N1 strain of the virus have spread anxiety in Europe and the Middle...

Predicting the unpredictable.
January 10, 2006... Who needs forecasts? What we want is certainty THE season for making predictions is coming to an end. According to most analysts we are set for a year of robust equity markets, with the Dow Jones Industrial Average, which passed 11,000 this...

Ahmadinejad's nuclear gamble; Iran and the world; Taking another step towards a nuclear showdown.
January 10, 2006... Iran has removed the seals on its uranium-enrichment plant at Natanz and says it will resume research on nuclear fuel, ending a two-year voluntary suspension, despite warnings from western Europe, Russia and America. The prospect of some form...

Dow 11,000 all over again; Stockmarkets; The middle of a long boom, or the last gasp of a dying bull?(Dow Jones and Company Inc.)
January 10, 2006... America's Dow Jones Industrial Average has closed above 11,000 for the first time in over four years. European and Japanese equities markets are also riding high, thanks to improving economic data. But does this herald the return of the...

What comes next? Israel's gravely ill prime minister; The Middle East is forced to look beyond Sharon.
January 10, 2006... Ariel Sharon continues to fight for his life after suffering a massive stroke last week. With the Israeli prime minister gone from the political landscape, who will now set the agenda for the Middle East? ON MONDAY January 9th, five days...

Turkey takes fright as bird flu heads towards Europe; Bird flu creeps towards Europe; Turkey takes fright as its government confirms a batch of human cases.
January 11, 2006... The deaths of three children from bird flu in eastern Turkey--the first outside East Asia--and official confirmation that some 15 Turks are infected with the deadly H5N1 strain of the virus have spread anxiety in Europe and the Middle East....

Dow 11,000 all over again; Stockmarkets; Dow 11,000: the middle of a long boom, or the last gasp of a dying bull?
January 11, 2006... America's Dow Jones Industrial Average has closed above 11,000 for the first time in over four years. European and Japanese equities markets are also riding high, thanks to improving economic data. But does this herald the return of the...

Ports at war; A bidding war over Britain's P&O; The empire strikes back.
January 11, 2006... A bidding war has broken out between the state-backed port operators of Singapore and Dubai for P&O, a British port and ferry group with a distinguished history. The winner will gain crucial advantage in the quest to become a leading global...

What comes next? Israel's gravely ill prime minister; The Middle East is forced to look beyond Sharon.
January 11, 2006... Ariel Sharon continues to fight for his life after suffering a massive stroke last week. With the Israeli prime minister gone from the political landscape, who will now set the agenda for the Middle East? ON MONDAY January 9th, five days...

Moving towards a nuclear showdown; Iran and the world; Taking another step towards a nuclear showdown.
January 12, 2006... The prospect of some form of sanctions against Iran is growing after the Islamic country resumed work at its nuclear plants this week. A crisis meeting between Britain, France, Germany, Russia, China and the United States has been called in...

Turkey takes fright as bird flu heads towards Europe; Bird flu creeps towards Europe; Turkey takes fright as its government confirms a batch of human cases.
January 13, 2006... The deaths of three children from bird flu in eastern Turkey--the first outside East Asia--and confirmation that some 18 Turks are infected with the deadly H5N1 strain of the virus have spread anxiety in Europe and the Middle East. Though there...

Moving towards a nuclear showdown; Iran and the world; Taking another step towards a nuclear showdown.
January 13, 2006... The prospect of some form of sanctions against Iran is growing after the Islamic country resumed work at its nuclear plants this week. A crisis meeting between Britain, France, Germany, Russia, China and the United States has been called in...

Tyco makes the break; Conglomerates; Tyco breaks itself up, but diversification is not quite dead.
January 13, 2006... Tyco's decision to break itself up is part of a trend for the dismantling of conglomerates. But as the backlash continues against diversified industrial giants, there is still money to be made from operating in a range of industries--especially...

Clinton comes good on AIDS; A deal to cut the cost of AIDS drugs; Clinton comes good.
January 13, 2006... America's ex-president, Bill Clinton, has thrown himself into a campaign to lessen the impact of AIDS in poor countries, announcing a deal with drug companies to cut the price of basic treatment and to make tests for HIV cheaper. As prices...

Turkey takes fright as bird flu heads towards Europe; Bird flu creeps towards Europe; Turkey takes fright as its government confirms a fourth death.
January 16, 2006... The deaths of four people from bird flu in eastern Turkey--the first outside East Asia--and confirmation that some 20 Turks are infected with the deadly H5N1 strain of the virus have spread anxiety in Europe and the Middle East. Though there is...

How to handle Iran.
January 16, 2006... The five permanent members of the UN Security Council - America, Russia, China, Britain and France - held a special meeting on Monday, January 16th, to discuss how to deal with Iran's nuclear ambitions. The Islamic country last week restarted...

How to handle Iran.
January 17, 2006... The five permanent members of the UN Security Council - America, Russia, China, Britain and France - failed to reach consensus on how to deal with Iran's nuclear ambitions at a special meeting on Monday, January 16th. Instead a session of the...

Strange happenings along the China coast; The Buttonwood column: Strange happenings along the China coast; If you think China is going to revalue its currency, think again.
January 17, 2006... If you think China is going to revalue its currency, think again BUTTONWOOD sometimes wants to rise above the merely mechanical. He wants to see signs and portents for you in this dark world, and he wants to tell you what they mean, whether...

Taiwan's tumultuous politics; An unpopular prime minister quits his job; Frank Hsieh leaves after less than a year.
January 17, 2006... Taiwan's ruling Democratic Progressive Party lost an election last month, then lost a prime minister on January 17th when Frank Hsieh resigned. The country's president, Chen Shui-bian, is supposed to hold real power, but he looks increasingly...

How to handle Iran.
January 18, 2006... The five permanent members of the UN Security Council - America, Russia, China, Britain and France - failed to reach consensus on how to deal with Iran's nuclear ambitions at a special meeting on Monday, January 16th. Instead a session of the...

Opening the boss's pay packet; America's Securities and Exchange Commission votes for more transparency.
January 18, 2006... America's Securities and Exchange Commission has proposed a sweeping reform to improve disclosure of executive pay. More transparency should help shareholders decide whether top bosses represent value for money, though it may do little to...

Oil on the up, again.
January 18, 2006... The oil price is rising once more, amid worries about the security of supply from Iran, the world's fourth largest exporter, where there is talk of possible economic sanctions. Adding to the tension, oil firms in Nigeria, the eighth biggest...

Opening the boss's pay packet.
January 19, 2006... America's Securities and Exchange Commission has proposed a sweeping reform to improve disclosure of executive pay. More transparency should help shareholders decide whether top bosses represent value for money, though it may do little to...

Iraq prepares for a new government.
January 19, 2006... Final results are due from Iraq's December general election on Friday, January 20th, after more than a month's delay. This should be a chance for rival Sunni, Shia and Kurdish camps to negotiate a political deal to create a new powersharing...

Jitters in the markets.
January 19, 2006... Stockmarkets were unsettled this week after a dramatic fall in the Nikkei 225 index on January 18th. The Tokyo Stock Exchange also introduced emergency measures - a shorter trading day - when its trading system seemed overwhelmed by the number...

Oil on the up, again.
January 20, 2006... The oil price reached $68 a barrel on Friday, January 20th, amid worries about the security of supply from Iran, the world's fourth largest exporter, where there is talk of possible economic sanctions. Adding to the tension, oil firms in...

Iraq prepares for a new government.
January 20, 2006... Final results from Iraq's December general election were announced on Friday, January 20th, after more than a month's delay. This should be a chance for rival Sunni, Shia and Kurdish camps to negotiate a political deal to create a new...

He's back.(audiotape of Osama bin Laden)
January 20, 2006... A new and bizarre audiotape believed to be recorded by Osama bin Laden has surfaced. In it, he both threatens America and offers a conditional truce. Its release follows an American attempt to kill Ayman al-Zawahiri, Mr bin Laden's deputy, with...

Flying a little higher.
January 20, 2006... United Airlines is set to emerge from bankruptcy protection after a ruling by an American judge on Friday, January 20th. Although a sustained recovery is still far from assured, it is a sign that prospects are improving for America's...

Iraq prepares for a new government.
January 23, 2006... Final results from Iraq's December general election were announced on Friday, January 20th, after more than a month's delay. This should be a chance for rival Sunni, Shia and Kurdish camps to negotiate a political deal to create a new...

Kosovo after Rugova.(Ibrahim Rugova)(The death of Rugovo will not attect the independence of kosovo)
January 23, 2006... Ibrahim Rugova, Kosovo's president, will be buried on Thursday. Kosovars are mourning their well-known leader just as they prepare for delicate discussions on the future of the United Nations-protected province. UN-backed talks were due to...

Canada goes to the polls.
January 23, 2006... Canada's Liberals are set to lose a general election after a dozen years in office. Opinion polls show the Conservative opposition, led by Stephen Harper, with a lead of some 10% over the moribund governing party of Paul Martin. Mr Martin's...

Ford's latest rebuild.
January 23, 2006... Ford revealed details of a big restructuring effort on Monday, January 23rd. Some 30,000 jobs may be lost by 2012, a quarter of its North American workforce. But the restructuring looks insufficient for the American giant to fend off its...

Ford's latest rebuild.
January 24, 2006... Ford revealed details of a big restructuring effort on Monday, January 23rd. Some 30,000 jobs may be lost by 2012, a quarter of its North American workforce. But the restructuring looks insufficient for the American giant to fend off its...

Thaksin cashes in his chips.
January 24, 2006... Thailand's embattled prime minister, Thaksin Shinawatra, has sold his family's holding in Shin Corp, a telecoms and media giant, to Singapore's Temasek for almost $2 billion. Mr Thaksin hopes this will end the constant accusations of conflicts...

Dispirited; The Buttonwood column: Dispirited American banks.
January 24, 2006... America's biggest banks decelerate Perhaps banks really believe that bolstering earnings through temporary fixes is a good strategy, a kind of show of effort, even if it is not particularly effective in convincing the market that they run...

Palestinians at the polls.
January 24, 2006... Palestinians elect a new legislature for the first time in a decade on Wednesday, January 25th. In doing so they will help determine how the rest of the world relates to the Palestinian Authority. The ruling Fatah party of Mahmoud Abbas has...

Canada's new government.
January 24, 2006... Stephen Harper's Conservative party won this week's general election in Canada, replacing a tired Liberal party that has been in office for a dozen years. But with only a minority in parliament, Mr Harper's Tories face a tough task themselves...

Ford's latest rebuild.
January 25, 2006... Ford revealed details of a big restructuring effort on Monday, January 23rd. Some 30,000 jobs may be lost by 2012, a quarter of its North American workforce. But the restructuring looks insufficient for the American giant to fend off its...

Dispirited; The Buttonwood column: Dispirited; America's biggest banks decelerate.
January 25, 2006... America's biggest banks decelerate Perhaps banks really believe that bolstering earnings through temporary fixes is a good strategy, a kind of show of effort, even if it is not particularly effective in convincing the market that they run...

Palestinians at the polls.(Al Fatah)(Hamas)
January 25, 2006... Palestinians elect a new legislature for the first time in a decade on Wednesday, January 25th. In doing so they will help determine how the rest of the world relates to the Palestinian Authority. The ruling Fatah party of Mahmoud Abbas has...

Hamas's startling victory.(Views from the US and EU over the new elected party, Hamas)
January 26, 2006... The Islamist group Hamas has swept to a position of power in the Palestinian elections, winning 76 out of parliament's 132 seats, brushing aside the former ruling party, Fatah. On Thursday, January 26th, the Palestinian Authority cabinet...

Iran's tricky nuclear diplomacy.
January 27, 2006... World powers meet once more to discuss how to handle Iran's nuclear ambitions on Monday, January 30th, and again on Thursday, February 2nd. The board of the International Atomic Energy Agency may refer Iran to the United Nations Security...

Lakshmi's gamble.(Lakshmi Mittal's bid for Arcelor S.A.)
January 27, 2006... Mittal Steel, the world's leading steel producer, has led consolidation in the industry by hoovering up smaller firms. Now an audacious [euro]18.6 billion bid for Arcelor, the second largest steelmaker, could forge a global giant and encourage...

Hamas prepares for office.(Palestinian parliamentary elections)
January 27, 2006... The Islamist group Hamas won a victory beyond its dreams in the Palestinian parliamentary elections, taking 76 out of the 132 seats and sweeping aside the former ruling party, Fatah. Minds now turn to the question of who forms the new...

Dispirited.(evaluation of banking industry)
January 30, 2006... America's biggest banks decelerate PERHAPS banks really believe that bolstering earnings through temporary fixes is a good strategy, a kind of show of effort, even if it is not particularly effective in convincing the market that they run...

The Tories' turn in Canada; Canada's new government; The Tories' turn.
January 30, 2006... Stephen Harper's Conservative party won this week's general election in Canada, replacing a tired Liberal party that has been in office for a dozen years. But with only a minority in parliament, Mr Harper's Tories face a tough task themselves...

Iran's tricky nuclear diplomacy.
January 30, 2006... World powers meet once more to discuss how to handle Iran's nuclear ambitions on Monday January 30th, and again on Thursday February 2nd. The board of the International Atomic Energy Agency may refer Iran to the United Nations Security Council,...

Lakshmi's gamble; An audacious bid in the steel industry; Lakshmi Mittal swoops on Arcelor.
January 30, 2006... Mittal Steel, the world's leading steel producer, has led consolidation in the industry by hoovering up smaller firms. Now an audacious [euro]18.6 billion bid for Arcelor, the second-largest steelmaker, could forge a global giant and encourage...

Hamas prepares for office.(Palestinian parliamentary elections)
January 30, 2006... The Islamist group Hamas won a victory beyond its dreams in the Palestinian parliamentary elections, taking 76 out of the 132 seats and sweeping aside the former ruling party, Fatah. Minds now turn to the question of who forms the new...

Lakshmi's gamble; An audacious bid in the steel industry; Lakshmi Mittal swoops on Arcelor.
January 31, 2006... Mittal Steel, the world's leading steel producer, has led consolidation in the industry by hoovering up smaller firms. Now an audacious [euro]18.6 billion bid for Arcelor, the second-largest steelmaker, could forge a global giant and encourage...

Hamas prepares for office; After the Palestinian elections; Hamas prepares for office, and the world thinks how to react.
January 31, 2006... The Islamist group Hamas won a victory beyond its dreams in the Palestinian parliamentary elections, taking 76 out of the 132 seats and sweeping aside the former ruling party, Fatah. Minds now turn to the question of who forms the new...

Of scorpions and Starfighters.
January 31, 2006... Are exotic credit derivatives achieving much more than pushing the envelope to its limits? IN "JARHEAD", Sam Mendes's recent film about the 1991 Gulf war, some bored American marines arrange a fight between two scorpions. The money wagered...

The Satanic sketches; Religion and freedom of expression; A growing furore over Denmark's Satanic sketches.
January 31, 2006... A diplomatic and trade row is raging after two Nordic newspapers published cartoons of the prophet Muhammad that were deemed insulting by many Muslims, especially in the Middle East. In Britain, meanwhile, parliamentarians are debating whether...

Passing the buck to Ben; Greenspan bows out with an interest-rate hike; Over to you, Ben, and good luck.
January 31, 2006... The Federal Reserve has raised its key interest rate by another quarter of a percentage point, to 4.5%, at Alan Greenspan's last meeting in charge. His successor, Ben Bernanke, is taking over at or near the end of a cycle of monetary...

World powers tighten the noose, but Iran may yet wriggle free; Iran's nuclear programme; World powers agree to report the case to the Security Council.
January 31, 2006... World powers have agreed to report Iran to the United Nations over its nuclear programme, which looks like bomb-making to Europe and America. The move should be confirmed by the International Atomic Energy Agency on Thursday. But Iran will...

Betting on Bernanke; Greenspan bows out with an interest-rate hike; Over to you, Ben, and good luck.(Alan Greenspan)(Ben Bernanke)
January 31, 2006... The Federal Reserve has raised its key interest rate by another quarter of a percentage point, to 4.5%, at Alan Greenspan's last meeting in charge. His successor, Ben Bernanke, is taking over at or near the end of a cycle of monetary...

The Enron drama goes to trial.
January 31, 2006... America's biggest-ever corporate trial began on Monday January 30th, when two former chiefs of Enron--Kenneth Lay and Jeffrey Skilling--appeared in court in Houston. The two men are accused of a conspiracy to deceive investors before Enron's...