China increases energy prices

China increases energy prices

By Geoff Dyer in Beijing and Javier Blas in London

Published: June 19 2008 15:35 | Last updated: June 19 2008 20:03

China raised energy prices across the board on Thursday in a big policy shift that risks stoking the country’s already high inflation.

International oil prices fell immediately as Beijing said that petrol and diesel would go up by to 18 per cent and electricity tariffs rose by just less than 5 per cent. Oil prices – already under pressure as Saudi Arabia is expected to announce on Sunday an increase in oil production – fell more than $4 a barrel to $132.32.

The decision of China to slash its oil subsidies will cause the country’s largest one-off increase in at least a decade in petrol and diesel prices. The increases come into effect on Friday. Analysts had expected the authorities to hold off price increases until at least after the August Olympics.

China has been under growing international pressure to reduce its oil subsidies, with western countries accusing Beijing of artificially stimulating demand for oil by maintaining its price caps. Before the announcement, Chinese gasoline prices were about 40 per cent below the US. In the last month, India, Taiwan, Malaysia and Indonesia have all cut their subsidies amid mounting fiscal cost and in spite of concern about high inflation.

The Group of Eight finance ministers said last weekend that for example, “reducing subsidies” was important to lowering oil prices.

Eduardo López, demand analyst at the International Energy Agency in Paris, said that the retail price rise was a step in the right direction. “It is a surprise because Beijing has repeated it was not raising energy prices because of the high inflation environment.”

But Mr López warned against expectations of lower Chinese oil use in the short-term, saying that the move was more likely to stimulate supply in China than to curb demand.

The price caps caused problems with the two large state-owned refiners complaining about huge losses and shortages at petrol stations across the country as many small refineries stopped operations.

Analysts warned that the increase in retail prices could now boost Chinese demand, rather than curtail it, at least in the short term. That is because higher prices would encourage refiners to import more oil and boost sales to ease current petrol and diesel shortages.

The IEA said earlier this month that the fuel shortages that have beset China since 2007 suggest that “pent-up demand remain considerable”.

Trevor Houser, a China oil specialist at Rhodium Group in New York, said that the drop in inflation in May gave Beijing just enough breathing room to increase fuel prices. “When truck drivers had to wait six hours to refill their tanks, the shortages had got to a stage that threatened economic efficiency,” Mr Houser said.

China was likely to present its decision as its contribution to lower global oil prices at this Sunday’s oil producers and consumer meeting in Saudi Arabia, analysts and traders said.

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Friction over oil prices at EU summit

By Tony Barber in Brussels

Published: June 19 2008 18:27 | Last updated: June 19 2008 18:27

Germany and Sweden went into battle on Thursday against French and Italian efforts to fight soaring petrol prices with tax breaks for fuel users and higher taxes on oil companies.

On the first day of a European Union summit, Angela Merkel, the German chancellor, and Fredrik Reinfeldt, Sweden’s prime minister, spoke out against tax measures they feared would delay EU adjustment to an era in which fossil fuel-based energy would never be cheap again.

Friction over oil prices contrasted with the consensus among the EU’s 27 leaders on how to handle Irish voters’ rejection last week of the bloc’s Lisbon treaty on institutional reform.

Leaders want to give Brian Cowen, Ireland’s premier, and his government time to reflect on the crisis, and hope he will propose a solution either at the EU’s next summit in October or at the one after that in December.

Mr Reinfeldt, who spoke to Mr Cowen on Wednesday, said: “He’s very clear that he hasn’t got all the answers with him. Therefore it will be in the autumn.”

Asked if the treaty crisis would damage the EU’s ability to adopt and implement policies effectively, Mr Reinfeldt told the Financial Times: “It depends very much on how we deal with it at this meeting. If we say to the Irish, ‘Have some time, come back in the autumn,’ then we will not have harmed the capacity to act on other policy issues.”

Leaders attending the Brussels summit were focused on the surging prices of petrol and staple foods.

EU officials circulated a policy paper showing that wheat prices in Europe had rocketed by 96 per cent and dairy products by 30 per cent between September 2006 and last February.

On Wednesday, Italy became the first EU state to attack the problem with a “Robin Hood tax” that takes money from oil companies and transfers it to fuel users.

France supports a cut in value added tax on petrol that would help specific categories of workers such as lorry drivers, farmers and fishermen – all of whom have staged protests across Europe in recent weeks.

Speaking to the German parliament hours before the summit, Ms Merkel said: “Measures, especially of a fiscal nature, which have been regularly discussed and which at the end of the day will prevent the moves necessary to adapt to a changing market, should, from our point of view, be avoided.”

Mr Reinfeldt said he was considering income tax cuts aimed at giving Swedes an incentive to work longer hours, earn more money and increase their ability to afford high energy costs.

“An increase in petrol prices could be met by working extra hours. It’s a tough signal,” he acknowledged.

He said some countries, including Sweden, could help by boosting food output and productivity. “We still give support to farmers not to use land. Nearly everyone 150 years ago was working on farms and we were all starving. Now, 2 or 3 per cent are on farms and we are exporting food. Raising production and productivity would do a lot,” he said.

As a compromise, summit leaders could ask the European Commission to study the French tax proposal and other ideas and report back before the August holidays, said EU diplomats.

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Energy companies could face restructuring

By Sarah Laitner in Luxembourg and Ed Crooks in London

Published: June 7 2008 02:58 | Last updated: June 7 2008 02:58

EDF, Eni and other big energy companies could be forced to restructure their businesses after European Union countries backed further opening of the electricity and gas markets.

The agreement, reached at an EU meeting in Luxembourg, marks a breakthrough in long, divisive efforts to boost competition in the union’s energy sector.

Under Friday’s accord, integrated energy companies in the EU would be allowed to retain control of their transmission networks, but they would be subject to stricter regulation.

These energy companies own vital transmission infrastructure, such as pipelines and power networks, as well as distributing and selling gas and electricity.

As part of Friday’s compromise, the new measures would be reviewed by the European Commission two years after implementation. This move is likely to please pro-reform countries, which include the UK.

However, German and French concerns, which had been the main hurdle to a deal, were recognised by a decision to apply equal treatment to both the electricity and gas sectors.

Malcolm Wicks, UK energy minister, said of the agreement: “It will put downward pressure on prices, give consumers greater choice and level of service. This moves the whole of the EU closer to fully open and competitive energy markets.”

The reform plans are intended to overcome concerns that some integrated groups use their grip on networks to block new entrants, keeping prices customers’ prices artificially high.

The Commission had called last year for the forced break-up of integrated companies, but its plans were watered down in the face of German and French-led opposition.

The Commission is conducting a parallel competition crackdown on some big energy companies. This action led RWE and Eon, two German energy companies, to strike separate agreements to sell part of their transmission businesses.

Friday’s deal is far from a fait accompli. The European parliament must approve the agreement.

Other tensions on EU energy policy were evident at Friday’s meeting. Italy became the first of the union’s 27 members to call publicly for a review of the plans to bolster biofuels use, intensifying the debate over the contentious goal.

Claudio Scajola, Italian economic development minister, said: “Europe has to be realistic. We must be realistic. We took with too much haste the decision on an objective that is not reachable.”

His comments add to the controversy over the EU target to produce 10 per cent of road transport fuel by 2020 from biofuels. Critics claim that boosting biofuels production is driving up world food prices and damages the environment.

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Nigeria attack shuts Shell offshore oilfield

By Matthew Green in Lagos

Published: June 19 2008 11:25 | Last updated: June 19 2008 13:39

Nigerian militants have forced Royal Dutch Shell to shut down one of Africa’s biggest oilfields after launching the first attack of its kind on a giant deepwater production vessel floating more than 100km offshore.

Shell said it had shut-in production at the facility – which has been pumping roughly 200,000 b/d, just under 10 per cent of Nigeria’s daily oil output - and sent a helicopter to assess the situation.

”We can confirm that there has been an attack and we are just now examining what really has happened,” said Olav Ljosne, a spokesman for Shell in Lagos.

Shell workers retreated behind blast walls housing the control room and living quarters on the 12-storey high Bonga vessel after speed-boat-riding raiders attacked the facility in the early hours of the morning.

Reuters quoted a private security contractor working in the oil industry as saying that around two dozen gunmen in three boats had reached the floating facility but failed to get inside it, injuring three Shell staff.

During their escape, the attackers encountered another vessel, the Solar Tide, off the Escravos export terminal and kidnapped its US captain, the contractor said.

The extent of the damage, if any, to the 300,000-tonne Bonga vessel, whose inauguration in November, 2005, marked the start of a new era of deepwater oil production in Nigeria, was unclear.

But the fact the militants were able to cross open sea to reach a facility located so far from the shore has opened a new front in their campaign against the oil industry, previously confined largely to attacks in shallow water or in the swamps of the Niger Delta.

The attack is a further blow to Shell in Nigeria, where the company has borne the brunt of an insurgency that shut in 477,000 b/d at the Shell Petroleum Development Company (SPDC) in 2006. Shell owns a 30 per cent stake in SPDC, in which the government is the majority partner. SPDC executives say that 350,000-400,000 b/d of the unit’s production are still shut-in.

Bonga – which is the length of three football pitches – is one of Shell’s most lucrative assets in Nigeria, governed by a Production Sharing Contract under which revenues are only shared with the government after the cost of the initial investment has been recouped.

Last month, Nigeria demanded Shell pay $1.3bn in unpaid taxes and revenues from Bonga after reviewing a contract governing its development signed in 1993.

Western majors had hoped Nigeria’s deepwater arena would provide a more secure operating environment than the creeks of the Niger Delta, which still accounts for about 70 per cent of Nigeria’s production, but whose thousands of kilometres of pipelines are highly vulnerable.

ExxonMobil already operates the giant Erha field, while Chevron is in the process of bringing its 250,000 b/d Agbami venture – the biggest offshore development in Nigeria - onstream. Total plans to start the Akpo offshore field late this year or early next year.

Bonga, and other similar Floating Production, Storage and Offloading vessels, act as giant petrol stations where oil tankers can pull up and fill their holds with crude before shipping it to refineries abroad. Roughly half of Nigeria’s crude oil is sold to the United States, which is looking towards growing offshore production in West Africa to reduce its dependency on the Middle East.

Bonga – named after a species of local fish – also supplies gas to the Nigeria Liquefied Natural Gas, Nigeria’s sole export facility for gas supercooled for easier shipping. The facility supplies about 10 per cent of global LNG demand. Ifeanyi Mbanefo said Bonga supplies less than five per cent of NLNG’s gas and the shut-in would not affect exports. ”We are going to meet all our contractual commitments, our production is not affected,” he said.

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Pentagon admits to weakness in nuclear records

By Demetri Sevastopuloin Washington

Published: June 19 2008 23:43 | Last updated: June 19 2008 23:43

The Pentagon has played down reports that the US military cannot locate hundreds of sensitive nuclear missile components.

Several government officials told the FT on Wednesday a secret Pentagon report into nuclear safeguards had found the air force could not account for many components previously included in its inventory. One said more than 1,000 were missing.

Responding to the story, Bryan Whitman, Pentagon spokesman, on Thursday conceded there was a “weakness” in record keeping, but said there was no evidence security of the nuclear arsenal had been compromised.

“There is a difference between missing items and not having a full and complete auditable paper trail for every component,” said Mr Whitman.

Another official insisted the air force had not lost any nuclear weapons or components, although neither official could explain how the air force was certain no weapons were missing, given the accounting problems.

The disclosure is the latest embarrassing episode for the air force. Robert Gates, US defence secretary, recently fired the two top air force officials after the service inadvertently shipped missile nose cones to Taiwan, while last year the force had to explain how a bomber mistakenly carried six nuclear missiles across the US. The incidents have raised concerns about US nuclear safeguards as Washington presses other countries to bolster counter-proliferation measures.

In announcing the departure of the top air force officials earlier this month, Mr Gates said Admiral Kirkland Donald, the officer who led the investigation, concluded that both incidents had a “common origin” which was “the gradual erosion of nuclear standards and a lack of effective oversight by air force leadership”.

Jon Wolfsthal, a nuclear expert at the Center for Strategic and International Studies, said: “The US has to be the world leader in security and stewardship of its nuclear assets. No mistakes are permissible. Imagine how states will react now when the US urges them to improve nuclear security. How do we press Pakistan, India, Russia and others to get more serious about their security?”

A senior defence official said the report had “identified issues about record keeping” for sensitive nuclear missile components. But he stressed there was no suggestion that components had ended up in the hands of countries that should not have received them.

Daryl Kimball, executive director of the Arms Control Association in Washington, said the revelation was “very significant and extremely troubling”.

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US food producers urge ethanol rethink

By Sheila McNulty in Houston

Published: June 19 2008 20:24 | Last updated: June 19 2008 20:24

US meat, dairy and poultry producers on Thursday urged regulators to re-examine ethanol mandates, which are tightening limited grain supplies and forcing a run-up in feedstock prices that threatens their livelihoods.

“We are facing tighter and tighter supplies of grain that threaten to devastate meat, dairy and poultry producers and cause food price increases for the American consumer,’’ said Thomas Elam, president of FarmEcon, an agricultural and food industry consulting firm. “The government must not allow this to happen.’’

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Brussels plans onslaught on online retailing

By Nikki Tait in Brussels

Published: June 19 2008 22:04 | Last updated: June 19 2008 22:04

Moves to break down national borders in internet retailing so that customers can take advantage of prices offered by companies in different countries are to be championed by the EU’s consumer protection commissioner.

Meglena Kuneva will say on Friday that she plans an assault on companies which vary their online prices across the European Union but restrict customers to making purchases only on their own national website.

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Sub-contractors hit by slow payment

By Stanley Pignal

Published: June 19 2008 20:47 | Last updated: June 19 2008 20:47

Construction subcontractors are complaining of unpaid bills ahead of housebuilders’ end-of-year close, as debt-laden developers pull all the levers to flatter their balance sheets.

The aim, privately admitted by many builders, is to preserve as much cash as possible on the day the auditors go through the books, in an attempt to relieve worried investors and avoid breaching debt covenants.

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Japan's Sumitomo bank set to invest in Barclays: report
AFP
AFP - 1 hour 3 minutes ago

TOKYO (AFP) - Japan's Sumitomo Mitsui Banking Corp. is close to a deal to invest 100 billion yen (930 million dollars) in Barclays, which has been hit by the credit crisis, a report said Friday.
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The two banks are in the final stages of negotiations and plan to make an official announcement by the end of the month, the Nikkei business daily said.

As part of this capital tie-up, they will deepen their cooperation in Asia as well as in the asset management business, the newspaper said, without naming its sources.

The Japanese bank, a core unit of Sumitomo Mitsui Financial Group, will take a stake of several percent in Barclays by buying new shares, it said.

The two banks are also expected to consider personnel exchanges as well as working together in other areas, such as by offering sophisticated financial products in major financial markets and emerging nations, it added.

There was no official confirmation of the report.

Barclays said Monday that it was considering raising fresh capital by offering new shares, but declined to comment on reports that it might turn to Asian sovereign investment funds to bolster its finances.

Many major banks have suffered massive losses due to their exposure to mortgage-backed securities that have plummeted in value following a housing slump in the US, the world's largest economy.

Japanese banks have not escaped unscathed but their losses so far have been dwarfed by those of many foreign peers due to their conservative business strategies in the wake of a domestic banking crisis in the 1990s.

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Barclays may get Japanese investment
Reuters
By Taro Fuse and David Dolan Reuters - 49 minutes ago

TOKYO (Reuters) - Japan's Sumitomo Mitsui Financial Group may invest about $926 million (470 million pounds) in Barclays, people familiar with the matter said on Friday, as subprime-hit Western lenders increasingly turn to Asia for funding.
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Japan's third-largest bank is also considering a business alliance with Barclays in Asia, according to the sources, who spoke on condition of anonymity as the deal has not been finalised.

Barclays, Britain's No.3 bank, has lost more than $5 billion in the U.S. subprime market and resulting credit crisis.

Shares of Sumitomo Mitsui were little changed on the news, and some market participants said the investment was too small to be a major earnings driver.

"This is certainly an opportunity for Sumitomo Mitsui, but they don't seem to be taking full advantage of it," said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Mangement in Tokyo.

"If they are going to do this properly, they will need to increase the size of their investment," Akino said.

After a decade of faltering under bad debt, Japanese banks have cleaned up their balance sheets and rebuilt their businesses. Now faced with a shrinking market at home, Tokyo's big banks are once again looking for opportunities abroad.

Having avoided the worst of the subprime crisis, Asian lenders are in a strong position to step in with funding for their overstretched Western rivals, analysts have said.

One of Asia's biggest subprime casualties, Japan's Mizuho Financial Group, earlier this year injected $1.2 billion into Merrill Lynch.

Another stricken U.S. bank, Lehman Brothers, almost struck a deal with Korean financial institutions as part of its $6 billion in fundraising, the Financial Times reported last week.

Sumitomo Mitsui is considering an investment of about 100 billion yen (470 million pounds) in Barclays, the sources told Reuters.

Chika Togawa, a spokeswoman for Sumitomo Mitsui, declined to comment.

SMALL STAKE

The bank will likely take a stake of several percent in Barclays through a private placement of shares, and look to form an alliance in Asia and in the asset management business, the Nikkei business daily said on Friday.

Kristine Li, a banking analyst at KBC Securities in Tokyo, said the deal was evidence that Japan's lenders are still too conservative about expanding overseas.

"It's very typical Japanese style: first you put a little capital in and try to do some kind of tie-up," Li said.

"I just don't think it's Western style and I don't think it will really deliver anything significant."

Barclays said this week it plans to sell billions of pounds worth of shares to new and existing shareholders to boost its funding.

Sovereign wealth funds are expected to buy a large proportion of the new shares, and Sumitomo Mitsui would likely be the only foreign bank to invest into Barclays, the Nikkei said.

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金融相「日本の金融機関、攻めの姿勢に転じるチャンス」

　渡辺喜美金融担当相は20日の閣議後の記者会見で、三井住友銀行が英銀大手バークレイズとの資本・業務提携を検討していることに関連し、「日本の金融機関は（欧米の金融機関に比べ）サブプライムローン問題などによる被害が軽微で、（今が）攻めの姿勢に転換できるチャンスだ」と述べた。そのうえで「（金融・資本市場の）世界的な動揺と不安の中で、ピンチをチャンスにすることが大事」と強調した。

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三井住友、英バークレイズに1000億円出資　アジア展開などで提携

　三井住友銀行と大手英銀バークレイズは19日、資本・業務両面で幅広い提携関係を結ぶ方向で最終調整に入った。三井住友銀がバークレイズに第三者割り当てで1000億円規模を出資。業務面でもアジア展開や資産運用事業などで連携を深める。米住宅バブル崩壊で傷を負った欧米金融機関の資本増強を通じ、邦銀が海外事業の拡大を狙う動きが活発になってきた。

　両行が月内をめどに正式発表する方向で調整中。米国の信用力の低い個人向け住宅融資（サブプライムローン）問題に関連し、バークレイズはこれまでに合計 5000億円規模の損失を計上。健全性の目安となる自己資本比率を引き上げるため、40億ポンド（約8400億円）規模の増資を検討していた。中東やアジア新興国の政府系ファンドに加え、海外の銀行では唯一、三井住友銀に支援を仰ぐ方向になった。

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Malaysia suspends seafood exports to EU: report
AFP
AFP - 1 hour 38 minutes ago

KUALA LUMPUR (AFP) - Malaysia's multi-billion-dollar seafood business has suspended exports to the European Union to avoid an outright ban for failing to meet EU health standards, a report said Friday.
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Health minister Liow Tiong Lai said local authorities would spend the next six weeks finding ways to ensure the 46 local companies meet EU demands.

"We will then re-list ourselves to become exporters to the EU. It will take at least three months for us to be relisted," he was quoted as saying by the Star newspaper.

Liow said Malaysia will then invite an EU inspection team to check vessels and facilities to ensure they meet the required standards.

A Brussels-based EU official said last week that the bloc was proposing to suspend imports of fisheries products and live fish, except tropical ornamental fish, from Malaysia.

"These imports should be suspended due to the bad outcome of a recent commission inspection that indicated these commodities may be of concern for the community public and animal health," the official said.

Ch'ng Chin Hooi, the chairman of the Malaysian Frozen Foods Processors Association, said its 26 members would lose at least one billion ringgit (0.3 billion dollars) following the voluntary action to stop exports for three months as it was the peak demand season ahead of Christmas.

Last week he said an EU ban "will be devastating for us as Europe is one of our major markets and it would result in many of us going out of business."

But he had admitted there were "some fishing vessels, landing ports and aquaculture ponds that did not meet EU standards."

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Chavez may stop selling oil to Europe
Reuters
By Frank Jack Daniel Reuters - Friday, June 20 03:07 am

CARACAS (Reuters) - Venezuelan President Hugo Chavez on Thursday threatened to stop selling oil to European countries if they apply a new ruling on illegal immigrants that is criticized in Latin America and by human rights groups.
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European Union lawmakers ruled on Wednesday that illegal immigrants can be detained for up to 18 months and face a reentry ban of up to five years.

"We can't just stand by with our arms crossed," Chavez said at an event to celebrate his OPEC country's oil supplies to South America attended by Paraguay's visiting president-elect, who also criticized the law.

Millions of Latin Americans live in Europe, many from poor Andean countries and war-weary Colombia.

For centuries colonized by European nations, after independence Latin America also received waves of European immigrants escaping the major wars and economic crises of the 20th century.

"Venezuelan oil will not go to the countries that apply this shameful directive. I'll say it now, Venezuelan oil will not go," Chavez said.

The socialist ally of Cuba also threatened to expel investments made by such countries, warning he would draw up a list of their business in the OPEC member nation.

"We are ready to do this now," he said. "Here in Venezuela at least, they won't be missed."

Chavez has already nationalized several foreign companies in Venezuela, turning them into joint ventures controlled by the state. France's Total and Norway's Statoil are among the European companies operating in Venezuela.

He called on other leaders in the region to take action against the law. Millions of Latin Americans live in Europe, many from poor Andean countries and war-weary Colombia.

PRICE HAWK

Chavez has regularly issued conditional threats to halt crude shipments from Venezuela -- one of the world's largest exporters of oil -- although he has never followed through on a move that would hurt supplies at a time of record prices.

Such threats from Chavez, a price hawk, have sometimes caused world oil values to rise.

On Thursday, U.S. crude closed nearly $5 a barrel lower after China announced hikes in fuel prices that could dampen demand in the growing energy guzzler.

One Japanese trader downplayed Chavez's comments saying they did not seem to be affecting the Asian market on Friday morning.

"I don't think Chavez's words are so important, for the moment they have had no effect," said the trader, who asked not to be named.

Typically, Chavez, who clashes regularly with the Bush administration, threatens to stop shipping oil to the United States, even though it is by far Venezuela's biggest customer.

While he has had periodic tensions with individual European countries, Chavez generally has better relations with Europe than the United States.

His comments on Thursday followed a mending of ties with Spain, one of the main European investors in Venezuela, after a spat last year where the Spanish king told Chavez to "shut up."

Chavez has sought in recent years to diversify the country's oil customers, selling oil to Europe and, increasingly, to China.

The president also wants to lead a South American alliance to unite the continent.

Oil-endowed Venezuela sends few immigrants to Europe but the tough talk supports allies such as Bolivia and Ecuador, who have many thousands of citizens living in countries such as Spain.

Bolivian President Evo Morales on Wednesday said the European law was "racist."

"We, too, could say that we are going to expel those who have looted and stolen from us, those who imposed policies of hunger and misery, those who exported illness, exploitation, discrimination," Morales, an Aymara Indian, said.

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Saudi Arabia announces 200,000 bpd output hike
AFP
AFP - Thursday, June 19 06:48 pm

LONDON (AFP) - Saudi Arabia said Thursday it planned to increase oil output by 200,000 barrels per day as it seeks to help cool soaring crude prices, according to a statement posted on its London embassy website.
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The statement was later withdrawn without comment but not officially denied.

In a move that shocked the market, the world's biggest exporter of crude said in the statement that intended to increase oil output to 9.65 million barrels per day.

Saudi Arabia had not been expected to announce its plans for a production hike until a high-level meeting between producers and consumers due Sunday in Jeddah to discuss ways of curtailing soaring oil prices on world markets.

"Saudi Arabia recently announced a plan to increase oil output by 200,000 barrels per day," the London embassy statement said.

"Oil prices subsequently fell further yesterday (Wednesday) from record highs of almost 140 dollars a barrel last week."

Oil struck a historic high of 139.89 dollars on Monday.

The Saudi statement appeared to confirm comments on Sunday from UN Secretary General Ban Ki-moon, who said that Saudi Arabia had told him it would increase its oil output by 200,000 bpd in July.

Thursday's statement did not specify when the additional production would begin.

"King Abdullah is to open an international energy conference in Jeddah on 22 June to discuss ways to curb rising oil prices and to stabilize the international market," the statement said.

"As many as 38 countries, four international organizations and 30 oil companies have agreed to attend the conference, at which the British Prime Minister Gordon Brown will give an address."

Saudi Arabia also said in the statement that its hosting of the conference showed its concern towards the world economy and oil market stability, and its desire for cooperation between oil producers and consumers.

The kingdom had ramped up output by 300,000 bpd last month following a visit by US President George W. Bush to the oil-rich kingdom.

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Swiss watch exports up 14.6 percent in May: trade data
AFP
AFP - Thursday, June 19 10:54 am

BIEL, Switzerland (AFP) - Swiss watch exports grew by 14.6 percent in May on an annual basis to a value of 1.5 billion Swiss francs (929 million euros), the Swiss Watchmaking Federation (FH) said Thursday.

Over the first five months of the year, watch exports rose 15.3 percent, FH said in a statement.

Exports were boosted by high-end watches costing more than 3,000 Swiss francs, whose sales rose 40 percent.

The exports of "cheap" watches costing 200 Swiss francs or less grew by only 5.0 percent, FH noted.

Hong Kong remains the top market for Swiss watches with exports up 23.1 percent. The United States is the second market but growth here was only 1.1 percent.

France and Italy showed strong growth at 28.4 percent and 10.8 percent respectively, but exports to Japan fell by 5.9 percent, FH said.

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訪日外国人、2020年に2000万人　観光立国戦略会議が目標

　政府は20日午前、観光立国推進戦略会議（座長、牛尾治朗ウシオ電機会長）を開き、10月の観光庁発足に合わせ、訪日外国人数を2020年に2000万人まで増やす中期目標を掲げることを決めた。7月中をメドに作業部会を立ち上げ、目標達成のための具体的な取り組みを検討する。

　07年の訪日外国人数は835万人で、中期目標はこれを10年余りで約2.4倍にする意欲的なもの。作業部会では外国人観光客が訪れやすい観光地をどう育てるかがテーマになる。例えば観光施設や交通機関の案内表示を多言語化するといったインフラの整備に加え、多言語で観光案内ができるようにするなどのソフト面での対応を検討する見通し。

　会議ではさらに「日本人が観光を楽しみやすくなるよう休暇制度を見直すべきだ」といった意見や、「観光意識を高めるために出国する日本人数を増やす必要がある」といった声が出た。

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ダビング10、７月５日前後に開始　著作権団体が一転容認

　地上デジタル放送番組の複製制限を現在の1回から10回に緩和する「ダビング10」について、情報通信審議会（総務相の諮問機関）の専門委員会は19 日、7月5日前後に始めることを決めた。著作権者に支払う補償金の上積みを求めてきた著作権団体側が一転、開始を容認する考えを表明した。

　当初は6月2日開始を予定していたが、著作権団体と家電メーカーが対立し延期していた。

　著作権団体側は従来、「ダビング10の開始は補償金増額と引き換え」と主張をしていたが、19日の会合では「膠着（こうちゃく）状態にすべきでない」などと方針を転換。二つの問題を切り離して考える必要性にも触れ、開始日の確定作業に応じた。補償金の問題は別途、文化庁の審議会で議論される見通しだ。

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ＳＢＩが資産運用会社、韓国の金融グループと連携

　ＳＢＩホールディングスは韓国の金融グループ、「現代スイスグループ」と共同で不動産に特化した資産運用会社を設立する。新会社はベトナムやカンボジアなどアジアを中心に韓国以外でも業務を拡大する計画で、ＳＢＩは海外での金融事業を強化する。

　現代スイスグループは「現代スイス貯蓄銀行」が中心の金融グループで、韓国で不動産プロジェクトファイナンス分野に強みを持つ。新会社の資本金は約10億円で、ＳＢＩが3億円を出資する。投資家から集めた資金を活用して不動産の取得やファンドへ出資し、収益を上げる。

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消費税増税、必要額の試算が焦点に

　「どういう（給付の）内容に対して負担をどうするというのがないと、議論が完結したというわけにはいかない。（消費税率引き上げは）最後は政治的な判断になる」。福田康夫首相は19日夕、記者団にこう語った。社会保障給付費の将来見通しは、首相が消費税率引き上げを決断する際の「根拠」となる公算が大きいためだ。

　秋の最終報告に向けて焦点となるのは、医療・介護費用の将来試算。これまで厚生労働省は社会保障給付費の将来見通しを過去の伸びを基に機械的に試算してきたが、国民会議では「医療・介護でどういうサービスが必要なのか、提供体制を効率化できるかなど、様々な前提条件をおいて推計する」（事務局）予定だ。

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コンビニ業界団体、深夜営業規制に異議表明

　温暖化対策として地方自治体がコンビニエンスストアの深夜営業規制を表明したことに対して、コンビニの業界団体、日本フランチャイズチェーン協会（ＪＦＡ、東京・港）は20日午後3時から会見を開き、二酸化炭素（ＣＯ2）削減効果が乏しいとして規制に異議を表明した。ＪＦＡの試算では、夜11時から朝7時まで営業をやめた場合でも3―4％の削減効果にとどまるという。

　深夜営業は防犯面でも、近隣住民の駆け込み窓口になるなど地域社会に貢献していると強調している。

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食物繊維量を調節できるジューサー　東芝ホームアプライアンス

　東芝ホームアプライアンスは果物や野菜などをジュースにする際に食物繊維の量を調節できるジューサー「ＪＣ―Ｓ3」を7月1日に発売する。絞ったジュースと搾りかすを分離する網目のうち、大きめの繊維質が通過する穴だけを開閉する「繊維調節リング」を導入した。同じ食材でも食物繊維が多く濃厚なジュースと、サラッとして飲みやすいジュースが作れるとしている。

　素材を入れる「バスケット」は従来に比べ約2割深くした。遠心力をかけて絞る際に食材が触れる側面積を増やすことで、無駄なくジュースにできるようにしたという。洗いやすいように、本体をワンタッチで分解できる仕組みも採用した。

　価格はオープンだが店頭では1万4000円前後と想定。販売目標は公表していない。

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住友金属工業、トラックのブレーキ補助部品で欧州進出

　住友金属工業は20日、トラック用補助ブレーキ装置「リターダー」で欧州市場に進出すると発表した。独自動車部品メーカーのフォイトターボ（ハイデンハイム市）とこのほどドイツに設立した合弁会社で中型トラック・バス向け製品を開発し、2012年に年間1万台の販売を目指す。住金の技術とフォイトの販売力を融合し、欧州の大手メーカーに売り込む。

　合弁会社は「フォイトターボＳＭＩテクノロジーズ」。資本金は110万ユーロ（約1億8000万円）で、フォイトターボが51％、住金が49％出資した。住金が持つ永久磁石式リターダーの改良型を開発する。制動力を高めるなど欧州向けの仕様にし、重量7―16トンの中型トラックやバスでの搭載を狙う。

　フォイトターボは大型トラック向けの「油圧式」で実績があるが、中型向けに適したリターダーを持っていなかった。

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ホンダ、大型スポーツバイクを全面改良　5キロ軽量化

　ホンダは20日、大型スポーツバイク「ＣＢＲ1000ＲＲ」をフルモデルチェンジして7月11日に発売すると発表した。シリンダーヘッドを小型化するなどして従来モデルから2.5キログラム軽くしたエンジンをはじめ、車体全体で5キロ軽量化した。

　マフラーを下方に配置するなど重心の一極化を進め、コーナーリング性能も高めたという。風よけの「カウル」やエンジン両脇の「サイドカバー」はより空気抵抗が少ない形状に改良した。

　本体価格は139万円で、車体はすべて新色で3色を用意した。これと別に全日本ロードレース選手権に参加している車体をイメージした特別色の「トリコロール」を9月5日に142万円で発売する。4色合計で国内で年間2500台の販売を目指す。

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「飛鳥２」で２泊、ＪＴＢが初心者向けクルーズ

　ＪＴＢは20日、豪華客船のクルーズとしては2泊3日と旅程が短く、料金が9万8000円からと低めの旅行商品を発売する。まず羽田空港から函館に飛び、函館港から横浜港まで郵船クルーズ（東京・千代田）の客船「飛鳥2」に乗る。船中で2泊する間、マジックショーなどのイベント、映画、温水プールなどを無料で利用できる。9月18―20日の日程で、600人の参加を見込んでいる。

　クルーズは50代以上を中心に人気が高まっているが、1週間程度で25万―30万円の商品が多く、日程や価格の面から利用者が限られている。人気が高い「飛鳥2」を手軽に利用できるプランで、「クルーズ初心者」へと客層を広げる考えだ。

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廃食用油で冷暖房　デンソーが実験開始

　デンソーは、廃食用油を精製した燃料で動く業務用大型エアコンの開発に向け本社の社員食堂で出た廃食用油を使って実験を始めた。2010年の商品化を目指す。灯油式のヒートポンプエアコンを改良し、廃油由来の燃料を使えるようにする。

　まず廃油を軽油に精製し、ヒートポンプエアコン用のディーゼルエンジンで使ってみて、正常に作動するかや部品などへの影響の有無を検証する。廃油精製の技術を蓄積するため、精製機メーカーと協力することも検討する。

　実用化に成功すれば、灯油を使わなくて済むようになるため、全体で二酸化炭素（ＣＯ2）の排出量を約90％削減できる計算としている。

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東芝とカザフ国営企業、レアメタル調達で協力

　東芝はカザフスタンの国営企業、カザトムプロムとレアメタル（希少金属）分野で協力する。鉱物資源の採掘・加工の有力企業である同社と組み、主力事業の半導体などの材料であるレアメタルを安定調達する狙い。東芝は昨年、同社と原子力分野で相互協力契約を結んでおり、関係をレアメタルまで拡大する。

　両社は20日、協力の覚書に調印する。東芝がタンタルやハフニウムなどのレアメタルを、カザトムプロムから安定して購入する関係を築くもよう。東芝は購入したレアメタルを外部に販売することも検討する。

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ワタミ、高齢者向け宅配弁当に参入

　ワタミは高齢者向けの宅配弁当事業に参入する。九州と関東で同事業を展開するタクショク（長崎県諫早市）の全株を創業家などから買い取り、7月にも完全子会社とする。主力の国内外食事業は若年層の居酒屋離れや飲酒運転規制で環境が厳しい。好調な有料老人ホーム事業に続く高齢者向けサービスを拡充し、収益基盤を強化する。

　ワタミは20日にも発表する。買収額は推定で30億円強とみられる。タクショクは九州が地盤で、独り暮らしの高齢者などを対象に1日当たり4万4000食の弁当を配達している。首都圏では2005年に事業を始めたが、知名度の低さが事業拡大の障壁となっていた。

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自社が「筆頭株主」、最多の150社超　07年度末

　保有する自社株（金庫株）が増え、自らが「筆頭株主」になっている上場企業が、2008年3月末時点で156社と過去最多となった。1年前に比べると 23％増えている。株主への利益配分策などとして、企業が積極的に自社株買いを進めたからだ。株主総会が本格化するなかで、金庫株の消却や株式交換によるＭ＆Ａ（合併・買収）など、自社株の活用策に関心が集まっている。

　07年度の上場企業による自社株買いの総額は約4兆6000億円（野村証券調べ）。昨夏からの株式相場の低迷で、自社の株価を割安とみなした企業が積極的に買ったためとみられる。

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東シナ海ガス田開発への参加、帝石など候補に　経産相

　甘利明経済産業相は20日の閣議後の記者会見で、中国と合意した東シナ海のガス田の共同開発に参加する日本企業について、「技術的にも信頼できるところが担当する」と述べ、試掘権をもつ帝国石油と新日本石油が有力な候補になるとの見方を示した。

　世界貿易機関（ＷＴＯ）の多角的通商交渉（ドーハ・ラウンド）の年内合意に向け大詰めを迎えている交渉に関しては、「洞爺湖サミット前後が一つの大きなヤマになる」と述べ、7月にも閣僚会議が開かれる可能性を示唆した。

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白樺ガス田「日本は中国の主権を承認」　中国外務次官

　【北京＝佐藤賢】中国の武大偉外務次官は19日、北京で記者会見し、東シナ海のガス田開発に関する日中合意について「日本は中国の法律に従って春暁（日本名・白樺）ガス田の協力に参加することに同意し、春暁の主権が中国に属することを承認した」との認識を示した。春暁に日本法人が出資する方法は「共同開発ではない」との立場も強調した。

　中国の外交交渉の結果に関して外務省高官が記者会見するのは異例。インターネット上では合意への反発が出ており、譲歩した印象を与えないよう丁寧に説明する狙いとみられる。武次官は「ネット利用者の高い関心に注意している」と語り、ネット世論に敏感な姿勢をにじませた。

　中国の一部のウェブサイトでは、ガス田問題に関する意見が書けなくなっている。対日批判の書き込みも当局が一部削除しているとみられる。

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直販損保６社、車の保険料収入８％増　07年度

　代理店を通さずに電話やインターネットで損害保険を販売する「直販損保」の業績が拡大している。ソニー損害保険など6社の2007年度の自動車保険料収入は計1560億円と前の年度より8％増えた。東京海上日動火災保険など大手の保険料収入が頭打ちになるなか、直販損保は割安な保険料と、ガソリン価格の高騰を追い風に、節約志向の強いドライバーらを取り込んでいる。

　最大手のソニー損害保険の保険料収入は9％増の480億円。直販6社に占めるシェアは0.2ポイント高い30.8％に上昇した。ブランドイメージが高いうえ、事故などへのきめ細かいサービスを拡充したことが寄与した。2位のチューリッヒ保険は保険料を5％増やした。

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都内駅前の駐輪場、１年で３万台分増加　合計82万台に

　東京都内の駅前駐輪場が公営・民営を合わせて1年間で3万台分増え、合計82万台となったことが、都の調査で分かった。増加数は最近10年間で最大だ。放置自転車は通行の邪魔になり、景観悪化につながるため、都内の区や市が駐輪場の整備を急いでいる。ただ放置数は8万5000台と、過去最低にはなっているもののなお高水準。利用率の向上が課題だ。

　調査は昨年10月時点。2006年10月と比べた。公営駐輪場は44カ所増えたが、民間は不採算による撤退などで5カ所減り、差し引き39カ所増えた。

　西武池袋線大泉学園駅では、練馬区が07年4月、1500台収容の駐輪場を開設した。既存施設と合わせて計7700台が駐輪できるようになった。同駅は自転車乗り入れ数が区内で最も多く、1995年には放置自転車が2100台あったが150台まで減った。

　自由が丘駅では06年12月、目黒区が1億7500万円をかけて、288台分の駐輪場を整備した。所定の場所に自転車を運べば、自動で駐輪できる最新型が特徴だ。世田谷区も同時期、4000万円をかけて450台分の駐輪場を設置した。

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自民、移民1000万人受け入れ提言

　自民党の国家戦略本部は19日、今後50年間で1000万人の移民受け入れを実施すべきだとの提言を決定した。2013年までに留学生を30万人受け入れる計画なども盛った。

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日本人による壁画模写、60年ぶり公開　インドのアジャンタなど

　アジア古代絵画の代表作、インドのアジャンタ壁画とスリランカのシーギリヤ壁画の日本人による模写が京都国立博物館の収蔵庫で見つかり、25日―7月27日、同館で約60年ぶりに公開される。

　見つかったのは、日本画家、杉本哲郎が1937―38年に現地で模写した壁画計10面。シーギリヤ壁画の模写は外国人として初めての挑戦だった。東洋の技法による両壁画の模写の類例はほとんどないという。

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グリーンピース２人逮捕　鯨肉窃盗容疑などで青森県警・警視庁

　環境保護団体グリーンピース・ジャパン（東京・新宿）が、調査捕鯨船の乗組員が自宅などに送った鯨肉を青森県内の倉庫から無断で持ち出した事件で、青森県警と警視庁は20日、東京都八王子市、佐藤潤一容疑者（31）ら2人を窃盗と建造物侵入の疑いで逮捕するとともに、東京都新宿区の同団体事務所を家宅捜索した。

　ほかに逮捕されたのは、横浜市金沢区、鈴木徹容疑者（41）。

　調べによると、佐藤容疑者らは4月16日、西濃運輸青森支店（青森市）の倉庫に侵入し、鯨肉入り段ボール1箱を盗んだ疑い。

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鳩山法相、「死に神」報道に反論

　鳩山邦夫法相は20日の閣議後の記者会見で、宮崎勤元死刑囚ら3人の死刑を執行したことに関連し、全国紙のコラムで「死に神」と表現されたことについて「粛々と正義の実現のために自らの責任を果たしている」と述べ、反論した。

　鳩山法相は「人の命を絶つという極刑を実施するのだから、心境は穏やかではない。しかしどんなにつらくても社会正義のためにやらざるを得ない」と心情を吐露。「（宮崎元死刑囚だって）恐ろしい事件を起こしたが、彼にだって人権も人格もある。彼は死に神に連れて行かれたのか。違う。死刑を執行された方々に対する侮辱でもある」と強調した。

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死刑執行、ハイペース　死刑確定者の増加が背景

　連続幼女誘拐殺人事件の宮崎勤死刑囚（45）の17日の死刑執行で、鳩山邦夫法相が執行を命じた死刑確定者の人数は計13人に達した。昨年12月以降、 2カ月間隔での執行は「かなりのハイペース」（法務省幹部）。判決確定から執行までの期間も大幅に短縮された。世論の高まりなどを受けた厳罰化傾向で死刑判決が相次ぎ、比例して死刑確定者が増えていることが背景にありそうだ。

　これまで判決確定から死刑執行までの期間は長期化傾向で、法務省によると、2006年までの10年間は平均7年11カ月だった。しかし、宮崎死刑囚はこの期間が2年4カ月、前回4月に執行された3人も4年以内と、鳩山法相就任後は大幅に短縮された。

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新日系人：８歳、マニラで物ごい…母が暴力、路上生活

　【マニラ矢野純一】日本人の父とフィリピン人の母の間に生まれ、母とともにフィリピンで暮らしていた日本国籍を持つ男児（８）が母に物ごいを強いられたうえ、結核を患い、路上で泣いて立ちすくんでいるところを昨年６月、孤児院に保護された。「新日系人」は数万人ともいわれ、厳しい暮らしを強いられる例も多い。連絡を受け事情を知った北海道出身の父は、男児の治療が終わる今年８月、引き取りに来る。

　マニラ首都圏の孤児院を訪ねると、男児は「おとうさん」「おねえちゃん」と必死に日本語を思い出し、か細い声で応えた。

　男児は両親の離婚後、０３年に母とフィリピンに来た。姉２人は日本に残り、家族は離れ離れになった。

　当初、母子は親類の家で暮らしていたが、日本でためた金が底をつくと友人の家を転々とし、最後はマニラ首都圏で路上生活をするようになった。

　保護された時の男児は、あばら骨が浮き出るほどやせ、結核にかかっていた。物ごいを拒む男児に母は暴力を振るったという。「ママはけったり、たたいたりした」。男児はこわばった表情で話す。

　孤児院を訪れた母親が、日本のパスポートのコピーを持参したことから、男児が日本国籍を持っていることが判明。施設の職員から知らせを受けたマニラの日本大使館が、外務省経由で父親の居所を探し出した。

　知らせを受けた父は今年３月、フィリピンに飛んできた。「この子は、これまで見たこともない輝くような笑顔を見せ、足にしがみついたまま離れなかった」と、孤児院職員のレルマさんは対面の様子を話した。

　今はもう、母の居所も分からなくなった。「この飛行機で早くパパに会いたい」。男児はメモ用紙に飛行機を描きながらポツリと話した。

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高速増殖炉：「もんじゅ」敷地内に断層存在の可能性

　１０月の運転再開を目指す高速増殖炉「もんじゅ」（福井県敦賀市）が、国による耐震安全性審査で、敷地内に断層がある可能性を指摘されていたことが分かった。日本原子力研究開発機構はボーリング調査を決めたが、実施時期などは明らかにしていない。

　もんじゅは３月、国内の原発で唯一、耐震性の「最終報告」を国に提出した。ボーリングによる再調査について、原子力機構は「データを拡充するため」と説明している。

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Sweden approves wiretapping law
A man protests against the law in Stockholm, Sweden

Sweden's parliament has approved controversial new laws allowing authorities to spy on cross-border e-mail and telephone traffic.

The country's intelligence bureau will be able to scan international calls, faxes and e-mails.

The measure was passed by a narrow majority after a heated debate in the Stockholm parliament.

Critics say it threatens civil liberties and represents Europe's most far-reaching eavesdropping plan.

"By introducing these new measures, the Swedish government is following the examples set by governments ranging from China and Saudi Arabia to the US government's highly criticised eavesdropping programme," said Peter Fleischer, of Google.

Checks and balances

But those who support the plans say such measures are needed to protect national security from those increasingly using such technology to plan attacks.

The government insists that it will filter out domestic communication and monitor only international calls, faxes and messages.

Some experts insist that it is impossible to differentiate between domestic and international traffic.

Under the new law, Sweden's intelligence bureau will no longer need a court order to begin surveillance, unlike the police.

The former head of the country's intelligence agency, Saepo, said the law failed to safeguard individual rights and should be scrapped.

"I think the law needs to be re-written. It is not enough to create a few checks and balances... It is the law itself, there is something wrong with it," Anders Eriksson told Swedish radio ahead of the vote.

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Israel 'detained' French diplomat
Erez crossing point

France has complained to Israel about the treatment of one of its diplomats who it says was detained last week at the Erez border crossing with Gaza.

Catherine Hyver says she was held for 17 hours without food or water after refusing to allow a search of her car.

A French spokesman said Israel had been asked for assurances that diplomatic vehicles would not be impeded.

There has been no word from Israel on the incident, which comes days before a visit by France's president.

It will be Nicolas Sarkozy's first visit to Israel since he took office in May 2007.

France says Ms Hyver, who is based at the country's consulate in Jerusalem, was detained on 11-12 June.

"We deplore the conditions in which our vice-consul in Jerusalem was held," said foreign ministry spokeswoman Pascale Andreani.

France, like most countries, keeps its embassy in Tel Aviv as it does not recognise Israel's occupation of east Jerusalem and its claim to the whole city as its capital.

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Venezuelans' assets frozen by US

Shia gunmen during clashes in Beirut in May, 2008

The US Treasury Department has frozen the US assets of two Venezuelan nationals for alleged links with the radical Islamist group, Hezbollah.

The men include one of the country's official representatives in Lebanon.

Ghazi Nasr Din, director of political interests of the Venezuelan embassy in Lebanon, is accused of raising funds for the Islamist group.

The other man, Fawzi Kan'an, rejected the accusations as baseless in a BBC interview.

Mr Kan'an operates two travel agencies in Caracas that have also been blacklisted by the US.

The latest move also prohibits Americans from doing business with the two men.

The move is likely to add to the existing rift between the Bush Administration and the government of Venezuelan President Hugo Chavez, correspondents say.