Εμφάνιση αναρτήσεων με ετικέτα Markets. Εμφάνιση όλων των αναρτήσεων
Εμφάνιση αναρτήσεων με ετικέτα Markets. Εμφάνιση όλων των αναρτήσεων

Τετάρτη, Ιανουαρίου 28, 2015

Greek PM Tsipras pledges radical change, markets tumble

Leftwing Greek Prime Minister Alexis Tsipras threw down an open challenge to international creditors today by halting privatisation plans agreed under the country's bailout deal, prompting a third day of heavy losses on financial markets...

A swift series of announcements signaled the newly installed government would stand by its anti-austerity pledges, setting it on course for a clash with European partners, led by Germany, which has said it will not renegotiate the aid package needed to help Greece pay its debts.

Tsipras told the first meeting of his cabinet members that they could not afford to disappoint the voters who gave them a mandate in Sunday's election, which his Syriza party won decisively.

After announcing a halt to the privatisation of the port of Piraeus yesterday, for which China's Cosco Group and four other suitors had been shortlisted, the government said on Wednesday it would block the sale of a stake in the Public Power Corporation of Greece (PPC).

It also plans to reinstate public sector employees judged to have been laid off without proper justification and announced rises in pension payments for retired people on low incomes.

Uncertainty over the new government's relations with the European Union went beyond economic policy. A day before the EU is expected to extend sanctions against Russia for six months, it was unclear if Athens would back its European partners on this move, after dissenting over a joint statement from the bloc on Ukraine yesterday.

Tsipras, who met Russia's ambassador to Athens on Monday and the Chinese envoy the next day, told ministers that the government would not seek "a mutually destructive clash" with creditors. But he warned Greece would not back down from demanding a renegotiation of debt.

"We are coming in to radically change the way that policies and administration are conducted in this country," he said.

Financial markets have taken fright. Greek bank stocks plunged more than 22 percent today, taking their cumulative losses since the election to 40 percent.

The overall Athens stock market fell almost 8 percent , while Greek five-year government bond yields hit around 13.5 percent. This marked their highest level since a 2012 restructuring which wrote off a large proportion of Greek debt held by private investors.

Newly-appointed Finance Minister Yanis Varoufakis, who meets Jeroen Dijsselbloem, head of the euro zone finance ministers' group on Friday, said negotiations would not be easy but he expected they would find common ground.

"There won't be a duel between Greece and Europe," he said, in his first meeting with reporters since taking office.

Varoufakis said he would meet the finance ministers of France and Italy - both countries which have pressed for a change of course in Europe from rigid budget orthodoxy - in the coming days.

France has ruled out straight cancellation of Greece's debt, about 80 percent of which is held by other euro zone governments and multinational organisations such as the IMF. However, Paris has said it would be open to talks on making Greece's debt burden more sustainable and Tsipras is expected to meet President Francois Hollande before an EU summit on Feb. 12.

The response from Germany was frosty. Economy Minister Sigmar Gabriel said Athens should have discussed the halt to privatisations with its partners before making an announcement.

"Citizens of other euro states have a right to see that the deals linked to their acts of solidarity are upheld," he said, adding that it would be the "wrong solution" for Greece to quit the euro but that it was up to Athens to decide.

Fears that talks between the new government and its creditors would break down, with unforeseeable consequences for Greece's future in Europe, fuelled the third successive day of f turmoil on the markets.

Tsipras said the government would pursue balanced budgets but would not seek to build up "unrealistic surpluses" to service Greece's massive public debt of more than 175 percent of gross domestic product.

Priorities would be helping the weakest sections of society, with policies to attack endemic cronyism and corruption in the economy, reduce waste and cut Greece's record unemployment.

The new government also confirmed it would stop the planned sale of state assets, in line with its election pledges.

Shares in PPC, which is 51 percent owned by the state and controls almost all of Greece's retail electricity market, were down nearly 13 percent, while Piraeus Port stock fell nearly 8 percent.

"We will halt immediately any privatisation of PPC," Energy Minister Panagiotis Lafazanis told Greek television a few hours before officially taking over his portfolio. "There will be a new PPC which will help considerably the restoration of the country's productive activities," he said.

The previous government of conservative Prime Minister Antonis Samaras passed legislation last year to spin off part of PPC to liberalise the energy market under a privatisation plan agreed under the EU/IMF bailout.


Κυριακή, Δεκεμβρίου 21, 2014

Economic slump in Russia to wield telling impact on Germany companies

Economic slump in Russia poses an increasingly serious threat to the German companies operating in that country, the President of the Association of German Chambers of Commerce and Industry (DIHK), Dr. Volker Treier said in an interview published by Bild am Sonntag newspaper.

The crisis in the Russian economy is putting an increasingly bigger brake on the business operations of German companies in Russia, Dr. Treier said, adding their activities were suffering in the first place from the falling exchange rate of the ruble.
A poll taken among the 300 or German companies in Russia showed that one company in three would have to cut their staffs if the situation did not improve shortly.

Executives of as many as 36% companies believed they would have to cancel the previously planned projects, Dr. Treier said.

In addition, he indicated that 10% companies reported their time-tested Russian partners were reorienting to the Asiatic markets.

To round out the rather discouraging picture, one company in eight was pondering withdrawal of its business from Russia, Dr. Treier said.

Πέμπτη, Νοεμβρίου 27, 2014

Oil prices sink as OPEC rejects output cut

Oil prices sunk to fresh four-year lows on Thursday, with New York crude plunging below $70 a barrel, after OPEC decided against cutting output despite a huge oversupply in world markets.
At about 16:10 GMT, West Texas Intermediate for January delivery struck $69.11 per barrel -- last seen on May 25, 2010. Brent North Sea crude for January hit $72.74, a level last witnessed on July 7, 2010.
Asked whether the oil OPEC had decided not to reduce production, Saudi Arabian Oil Minister Ali al-Naimi told reporters in Vienna: “That is right.”

He was speaking after a five hour meeting of the producer group broke up.
Kuwait’s Oil Minister Ali Saleh al-Omair confirmed the decision, saying there will bot “no change” in OPEC’s oil output.
Oil prices have fallen by more than a third since June as increasing production in North America from shale oil has overwhelmed demand at a time of sluggish global economic growth.
The cartel, whose largest producer and exporter is Saudi Arabia, will meet again in June next year, said an OPEC delegate.
Tariq Zahir, analyst at Tyche Capital Advisors in New York, said and the slide in U.S. crude could continue below $65 a barrel in coming weeks, a factor that may start to challenge the economics of North American shale oil production.

“I really think we will start getting into a price war,” Zahir said. “I think you would be a little crazy to try to pick a bottom here. I expect to see a bounce but any bounce will be sold into.”

He added trading volumes were reasonably strong on Thursday despite many U.S. traders being off for the Thanksgiving holiday.

Oil analysts said the OPEC decision left the oil market vulnerable to much bigger falls as abundant supply of high quality, light crude oil floods world markets, much of it from shale oil in North America.

“Saudi Arabia and OPEC will have to live with a prolonged period of low prices for any dent in U.S.-shale or production levels to happen,” said Harry Tchilinguirian, senior strategist at BNP Paribas in London.

[english.alarabiya.net with Reuters]

Δευτέρα, Ιουλίου 14, 2014

Marine experts urge Australians to eat more sea urchins to save environment (is said to contain euphoria-causing chemicals similar to that found in cannabis)

Marine experts are urging Australians to eat more sea urchins and help the environment at the same time, local media reported on Monday.

Australian sea urchin fishermen are doing great business with the Chinese market, but researchers hope Australians can develop a taste for the seafood in order to create more demand, the Australian Broadcasting Commission (ABC) reported.

If there was more demand, more sea urchins would be removed from sensitive reef areas where they are devouring kelp and in turn depleting lobster and abalone stocks.

In Australia, the sea urchin is yet to find favor with locals, but researcher Philip Hayward said they are a tasty treat.

"When they're fresh it almost deliquesces in your mouth, you feel it kind of fizzing and dissolving," he said.

"A Japanese colleague, one of his turn of phrases was 'eating a raw sea urchin was like sharing an intimate kiss with the ocean'."

  • The sea creature is a staple in Pacific islanders' diets, high in omega three, low in calories, an aphrodisiac and is said to contain euphoria-causing chemicals similar to that found in cannabis.
He said given the havoc they cause to reefs, commercial harvesting might prove a far more effective control strategy than the millions of dollars being poured into smashing, baiting and relocation programs.

"The funding that comes for them is for short-term initiatives, but as soon as leave them then they'll start re-growing there," he said.

"You really need an approach which sees people regularly going to actually remove these."

 Sources: Xinhua - globaltimes.cn


Σάββατο, Απριλίου 19, 2014

Russia’s Arctic oil rig to boost country’s role on world energy markets. - A total of 300,000 metric tons are planned to be exported to international markets

Prirazlomnaya offshore platform project, which is located in the Sea of Pechora, will give an impulse to the expansion of Russia’s presence on global energy markets, Russian President Vladimir Putin said Friday.
“The start of loading of the oil produced at Prirazlomnaya means that the entire project will exert a most encouraging influence on Russia’s presence on the energy markets and will stimulate the Russian economy in general and its energy sector in particular,” he said.
Putin witnessed the loading of the first batch of oil from ice-resistant oil rig Prirazlomnaya on the Arctic shelf during a link-up conference with Russian energy giant Gazprom chief Alexei Miller, who was at the oil platform at that time.

“This is, in fact, the beginning of our country’s enormous work on the oil production in the Arctic,” Putin said.

A total of 300,000 metric tons are planned to be exported to international markets through Rotterdam port in 2014. For this purpose, a pool of oil purchases is being formed for the oil to be on sale with a price discount to Urals oil price. At first oil will be sold through a spot scheme to oil refineries in the Netherlands, Norway and Great Britain. Gazprom Neft plans to use a storage facility in the future to optimize oil export supplies.
Gazprom launched oil production at the Prirazlomnaya oil rig in December of 2013. The project’s estimated cost stands at 90 billion rubles and the rig’s oil reserves were estimated at almost 72 million metric tons.

Prirazlomnaya oil field was discovered in 1989. This oil field is situated on the continental shelf of the Pechora Sea, 60 kilometers away from the coast (the town of Varandey).
Oil platform Prirazlomnaya is designed to operate in extreme weather conditions and can resist maximum ice load. It carries out all technological operations, including drilling, production, storage, preparation and loading of oil.
The oil platform meets world ecological safety standards. However, last year it was attacked by Greenpeace activists, who tried to board Prirazlomnaya, protesting against the drilling in the Arctic.

video: Prirazlomnaya offshore platform project


Πέμπτη, Απριλίου 10, 2014

Environment: Experts meet to discuss how to better fight wildlife trafficking in the EU and globally

wildlife trafficing AFRICA
European Commission, Press release, Brussels, 10 April 2014 -
Following an invitation by the European Commission, 170 experts met today in Brussels to discuss how the EU can better fight wildlife trafficking.
The conference marked the end of a public consultation which was launched on 7 February with a Communication by the Commission (COM (2014) 64 final). The background of the Commission's initiative is the surge in wildlife trafficking globally over the last years which has reached a level that threatens the survival of some endangered species and undermines good governance and sustainable development. Organised crime is significantly involved in this lucrative business, also within the EU.

Environment Commissioner Janez Potočnik who opened the conference said: "The damages caused by wildlife trafficking are enormous, and the efforts we undertake to combat it effectively will have to match the gravity of the situation." He also conveyed a message from the EU Commissioner for Home Affairs Cecilia Malmström: "Wildlife trafficking can be a very profitable business where risks of detection and sanctions are lower than for example drug trafficking. We need to strengthen our fight against this environmental crime."
Discussions focused on how to strengthen enforcement within the EU, how to better fight organised wildlife crime and how to ensure a more strategic diplomatic and development support role for the EU against wildlife crime.
Participants of the conference, which will continue tomorrow with dedicated workshops, came from 26 Member States, and from source and market countries in Africa, Asia and the Americas. Key international organisations such as Europol, Eurojust, Interpol, different part of the UN system and the World Bank were also represented. Civil society was actively participating through more than twenty different organisations. The European Parliament reiterated its call for an EU Action Plan against wildlife trafficking.
It was the first time representatives from all parts of government concerned (foreign affairs, development, environment, home affairs and justice) came together with practitioners from the entire enforcement chain, reflecting the need to develop a more comprehensive approach to what has become a major and complex organized crime problem and a threat to sustainable development.
Experts highlighted a number of problems for enforcement at EU level such as lack of resources, insufficient cooperation between agencies, in some Member States non-deterrent sanction levels and the lack of reliable data to analyse the scope of the problem. It was also discussed how cooperation between Member States in cross-border cases could be further strengthened. Regarding organized crime, the need to also follow the trail of the illegal revenues generated through wildlife trafficking was highlighted.
For better supporting global efforts against wildlife trafficking, experts stressed the need for improved enforcement of existing international rules and the importance of high level diplomatic actions towards countries affected by wildlife trafficking. They also discussed how to maximise international cooperation to investigate and sanction transnational organised networks and how to best integrate wildlife crime among the donor's priorities for development cooperation assistance.
The Commission will analyse carefully all the recommendations provided by the experts in the consultation and at the conference today and will on this basis review existing policies and measures. 


Πέμπτη, Μαρτίου 06, 2014

Invasive alien species: MEPs reach agreement with the Greek Presidency

Plans to prevent the introduction or halt the spread of “invasive alien species” of plants, animals or insects that cause ecological and economic damage were agreed by MEPs and the Greek Presidency of the Council on Wednesday. The draft legislation, which would require EU member states to coordinate their efforts, provides for a ban on species declared to be of “Union concern”.

“Invasive alien species cause damage worth at least €12 billion every year in Europe and many member states already have to spend considerable resources in dealing with them”, said MEP Pavel Poc (S&D, CZ) who is steering the legislation through Parliament.

“Their efforts are very often not effective simply because those species do not respect geographical borders. Cooperation between the member states is therefore crucial. The negotiations were very difficult and we had only limited time to strike a deal. That's why I am happy to say that today's negotiations were successful” he added.

The draft legislation will require EU member states to carry out an analysis of the pathways of introduction and spread of invasive alien species (IAS) and set up surveillance systems and action plans. Official checks at EU borders would also be stepped up. For IAS that are already widespread, member states would have to draw up management plans.

Alien species of “Union concern”

Species deemed to be of “Union concern” would be placed on a list of those that should not be introduced, transported, placed on the market, offered, kept, grown or released into the environment.

The Presidency accepted Parliament’s view that the IAS list should not be capped at only 50 species. Priority on the list would go to IAS which are expected to become a problem and those that cause the most damage. MEPs also inserted provisions for tackling IAS of concern for single member states. Species that are native to a part of the EU but begin to invade others would be tackled through enhanced regional cooperation between member states, facilitated by the European Commission.

Member states would have to decide appropriate penalties for breaches of the legislation. Where authorised by the Commission, they could grant specialized establishments permits to carry out certain commercial activities with IAS.

MEPs also insisted that a dedicated scientific forum should be established to advise on the scientific aspects of enforcing the new rules, and on applying the “polluter pays” principle to the recovery of restoration costs.


According to the European Commission, IAS are a major and growing cause of biodiversity loss and species extinction. They can be vectors of diseases or themselves cause health problems such as asthma, dermatitis and allergies. They can also damage infrastructure and facilities, hamper forestry and cause agricultural losses. IAS cost the EU an estimated €12 billion per year.

Next steps

If endorsed by the committee of member states’ permanent representatives (COREPER) on Friday 7 March, the agreement is to be put to a vote in the Environment Committee on 19 March.


Τετάρτη, Φεβρουαρίου 19, 2014

Turkish-Greek partnership brings mastic products to Turkey

The company ‘Akdenizli’ (Mediterranean), founded by Turkish Ahmet Müderrisoğlu and his Greek partner Yannis Botsaris, introduces the mastic resin products to the Turkish market...

Yannis Botsaris, a Greek businessmen working in China, met his future business partner, Ahmet Müderrisoğlu, when his interest in marble from the inner Aegean province of Afyon brought him to Turkey. As the friendship developed, Botsaris asked his friend what he could bring from Greece. As Müderrisoğlu and his wife were fond of mastic resin-based products, it became customary for Botsaris to bring them each time he came to Turkey.

Now, however, the pair isn’t just hoping that the Müderrisoğlus will be fond of the resin, as the partners are banking that there is a wider Turkish appetite for the product, whose use stretches back to antiquity.

Chios Mastikha is the natural resin secreted from the trunk and branches of the schinos, the Greek name for the mastic tree.

Sultan Selim II was said to be fond of it. When he came to the throne, one of his first instructions was to procure mastic resin produced on Chios Island, right across from the Aegean town of Çeşme, to the palace, according to Müderrisoğlu. 

‘Miracle product’

It became the “miracle” product of the palace’s cuisine and was used as a beauty product in the Harem, as well as for healing purposes by doctors.

In time, the use of mastic resin decreased and products based on its aroma were used because of their inexpensive nature.

“It is like waking up an old taste from its sleep,” said Müderrisoğlu.

“We have a lot of work to do to establish the mastic resin culture here in Turkey,” Botsaris said at a recent dinner organized for journalists, where the menu included dishes with mastic resin.

Botsaris and Müderrisoğlu have set up the company “Akdenizli” (Mediterranean) to introduce the mastic resin products to the Turkish market.

  • Chios Mastikha was recognized in ancient times as much for its distinctive flavor as for its therapeutic properties. Documents show it was the first natural chewing gum of the ancient world to clean teeth and freshen the breath.

Nowadays, the scientific community has come to corroborate and document the therapeutic functions of Chios Mastikha. It has now been scientifically proven that it displays beneficial action against digestive disorders, contributes to oral hygiene, displays significant antimicrobial and anti-inflammatory action, is a natural antioxidant and also aids in trauma healing and skin regeneration, according to information provided by the men’s business, the Mastikha Shop.

Exported from Greece
Currently, Chios Mastikha is exported from Greece throughout the world for use in the production of a wide range of products, including baked goods, sweets, preserves, ice cream, chocolate, chewing gum, candy, pasta, sauces, liqueur, ouzo, wine, dietary supplements, oral hygiene products, scented candles, essential oils and resin-based adhesives. 


Παρασκευή, Φεβρουαρίου 14, 2014

More than 40 countries sign declaration on fighting with illegal trade in wildlife

LONDON, February 14, (ITAR-TASS/. Officials from 46 countries, including Russia, on Thursday signed an intergovernmental declaration on fighting with illegal trade in wildlife.
The Russian delegation to the conference at Lancaster House where the declaration was signed was led by Natural Resources Minister Vladimir Kirillov.
The document outlines the practical steps towards curbing the illegal trade in wild animals and wildlife artifacts, including rhino horns and elephant tusks. It envisions amendments in the national legislations of signatory countries that will toughen the punishment for poachers, step up cross-border coordination and improve information exchange.

World Wildlife fund says the damage inflicted by poaching annually is estimated at $ 9.83 billion. Illicit production of rhino’s horns jumped up by a factor of 75 in the period of 2007 through 2013.
The horns are a widely used ingredient of traditional Chinese medicine and they surface more and more often on the black markets in Asia.
Apart from this, wildlife artifacts are often purchased by wealthy customers in Asian countries as trophies.
Experts point out the risk of extinction looming over rhinos, elephants and tigers, as tens of thousands of these animals fall victim to poaching every year.
The next conference on prevention of illegal trade in wildlife will be held in Botswana in 2015.

Τετάρτη, Σεπτεμβρίου 19, 2012

Κρατήρας από διαμάντι στη Σιβηρία;/Les diamants secrets des Russes menacent le marché mondial...

Επιστήμονες στη Ρωσία ισχυρίζονται πως βρήκαν γιγάντια αποθέματα διαμαντιού σε έναν κρατήρα στη Σιβηρία, που δημιουργήθηκαν από πρόσκρουση μετεωρίτη και τα οποία μπορούν να αλλάξουν τις ισορροπίες στην παγκόσμια αγορά. Σύμφωνα με προβλέψεις, πρόκειται για μια πηγή τρισεκατομμυρίων καρατίων, που αρκεί για να καλύψει τις παγκόσμιες ανάγκες σε διαμάντι για τις επόμενες τρεις χιλιετίες.

Το απόθεμα διαμαντιών στον κρατήρα Popigai είχε ανακαλυφθεί ήδη από το 1970, αλλά αφέθηκε ανεκμετάλλευτο και υπό καθεστώς μυστικότητας, καθώς η Σοβιετική Ένωση έδωσε προτεραιότητα στην παραγωγή τεχνητών διαμαντιών για βιομηχανικούς σκοπούς, ενώ εκείνη την εποχή ήταν σε λειτουργία και το κολοσσιαίο ορυχείο διαμαντιών Mirny, το οποίο πρωτοστατούσε στην εξόρυξη διαμαντιών για 50 χρόνια πριν κλείσει οριστικά το 2011, αποφέροντας τεράστια κέρδη για το ρωσικό κράτος.
Η κυβέρνηση έδωσε πρόσφατα το πράσινο φως στους γεωλόγους από το κοντινό Ινστιτούτο Γεωλογίας του Novosibirsk να ερευνήσουν τον κρατήρα ανοίγοντας το δρόμο για την εξόρυξη των αποθεμάτων. Σύμφωνα με τις γεωλογικές έρευνες, τα διαμάντια που βρέθηκαν στον κρατήρα Popigai, είναι δύο φορές πιο σκληρά από τα κοινά διαμάντια και μεγαλύτερα σε μέγεθος, γεγονός που τα καθιστά ιδανικά για πλήθος βιομηχανικών και επιστημονικών εφαρμογών.
Ο κρατήρας, διαμέτρου περίπου 100 χιλιομέτρων, είναι ο τέταρτος μεγαλύτερος γνωστός κρατήρας στον κόσμο, και προέκυψε από πρόσκρουση μετεωρίτη στη Γη, πριν από περίπου 36 εκατομμύρια χρόνια, κατά την Ηώκαινη εποχή. Το διαμάντι δημιουργήθηκε από τις πιέσεις και τις θερμοκρασίες που προέκυψαν από την πρόσκρουση του μετεωρίτη, οι οποίες μετέτρεψαν το γραφίτη της περιοχής σε διαμάντι, σε μια ακτίνα 13.6 χιλιομέτρων από την πρόσκρουση.
Η εξαγωγή διαμαντιών είναι μια πολύ σημαντική πηγή εσόδων για τη Ρωσία, με μεγαλύτερους πελάτες το Βέλγιο, το Ισραήλ, τις ΗΠΑ και χώρες της νοτιοανατολικής Ασίας. Εάν και πρόκειται να γίνουν και άλλες έρευνες στην περιοχή για να εξακριβωθούν οι λεπτομέρειες του κοιτάσματος, η συγκεκριμένη ανακάλυψη πρόκειται να φέρει επανάσταση στην αγορά και να διατηρήσει τη Ρωσία κυρίαρχο ρυθμιστή της.
naftemporiki gr


  • [1] Les diamants secrets des Russes menacent le marché mondial

Le gouvernement russe vient de déclassifier une information gardée secrète depuis plus de 40 ans et qui pourrait bien avoir des conséquences sans précédent sur le marché des pierres précieuses : la découverte d’un gigantesque gisement diamants représentant "plusieurs milliards de carats" et capable de répondre à la demande durant 3.000 années.
Selon le "Christian Science Monitor"[1], cette découverte a été faite durant les années 70 par les soviétiques en Sibérie, plus précisément dans une zone appelée cratère Popigaï. D’un diamètre d’une centaine de kilomètres, ce cratère a été causé par la chute sur terre d’une météorite géante, il y a 35,7 millions d’années.

Des "diamants d'impact"

C’est d’ailleurs la météorite qui, en frappant la terre, aurait soumis des dépôts de graphite à une pression et une température extrêmement élevées, créant ainsi des diamants appelés "diamants d’impact".
A l’époque, l’Union soviétique aurait décidé de conserver cette information secrète, et de ne pas exploiter leur découverte, dans un souci de contrôle du marché. En effet, l’URSS possédait déjà une grande réserve de diamants à Mirny, dans le Yakutia, et la découverte d’un tel gisement aurait pu provoquer un effondrement des prix.

Selon Nikolai Pokhilenko, directeur de l’institut de géologie et de minéralogie de Novosibirsk, la mise en exploitation du gisement pourrait bien "retourner" le marché mondial. En effet, la réserve disponible serait "dix fois supérieure à toutes les réserves mondiales connues" de ce type de diamants. "Nous parlons de milliards de carats", a-t-il ajouté.

Toujours selon Nikolai Pokhilenko, les diamants d’impact du Popigaï auraient la spécificité d’être particulièrement durs et seraient, de ce fait, plutôt destinés à un usage industriel.


  • [1] Russia reveals shiny state secret: It's awash in diamonds
Russia has just declassified news that will shake world gem markets to their core: the discovery of a vast new diamond field containing "trillions of carats," enough to supply global markets for another 3,000 years.

The Soviets discovered the bonanza back in the 1970s beneath a 35-million-year-old, 62-mile diameter asteroid crater in eastern Siberia known as Popigai Astroblem.

They decided to keep it secret, and not to exploit it, apparently because the USSR's huge diamond operations at Mirny, in Yakutia, were already producing immense profits in what was then a tightly controlled world market...............csmonitor.com 17/9/12 

Τετάρτη, Σεπτεμβρίου 05, 2012

Gazprom probed by EU over alleged unfair competition

Russia’s gas major Gazprom faces a probe of the European Union over alleged violations of fair competition in the natural gas markets of Central and Eastern Europe.
­The European Commission said it would investigate if Gazprom was hindering the free flow of gas across the EU countries, preventing supply diversification and limiting customer choice of delivery points. The company is also suspected of imposing unfair prices on its customers by linking the price of gas to oil prices.

“Such behavior, if established, may constitute a restriction of competition and lead to higher prices and deterioration of security of supply,” the European Commission said in a statement. “Ultimately, such behavior would harm EU consumers,” it added
If found guilty of violating EU competition rules Gazprom could be fined as much as 10% of annual revenue, or US$1.1-1.4 billion. Gazprom is yet to comment the issue.
European regulators said the probe will look at Gazprom's sales practices in eight European countries including Bulgaria, Estonia, Latvia, Lithuania, Slovakia and others. Russia supplies as much 36% of the EU's natural gas it also accounts for 82% of Poland's gas, 83% for Hungary and 69% for the Czech Republic.
The formal investigation was launched after the European antitrust authorities raided gas companies across Europe, including RWE, E.ON’s Ruhrgas and Hungary units, OMV AG (OMV), last September to uncover information on prices and supplies.
Meanwhile Lithuania’s government last year asked the EU to investigate Gazprom for refusing to cut gas prices. “I can confirm that we have asked the European Commission to look into possible abuse of the European competition rules over unfair pricing and I believe the probe is justified,” Energy Minister Arvydas Sekmokas was quoted as saying by the Baltic News Service.
The EU has been trying to diversify its gas supply after disputes involving Russia and Ukraine – a key transit country for Russian gas to Europe – led to supply disruptions last winter. In a separate move last year, EU authorities adopted new polices such as separating energy production from distribution, aimed at reducing Gazprom’s presence in the market.
The new policy – the so-called third energy package – was criticized by Russian authorities and experts, who say it will increase uncertainty in the European energy market.
Gazprom said it is considering lobbying the European Commission to get an exemption from the third energy package.

Οι νεκροί Έλληνες στα μακεδονικά χώματα σάς κοιτούν με οργή

«Παριστάνετε τα "καλά παιδιά" ελπίζοντας στη στήριξη του διεθνή παράγοντα για να παραμείνετε στην εξουσία», ήταν η κατηγορία πο...