China property prices ‘likely to halve’

China property prices ‘likely to halve’

By Jamil Anderlini in Beijing

Published: April 13 2009 10:39 | Last updated: April 13 2009 18:19

Property prices in China are likely to halve over the next two years, a top government researcher has predicted in a powerful signal that the country’s economic downturn faces further challenges despite recent positive data.

Real estate in Xining, north-west China
Real estate in Xining, north-west China: many developers are waiting for an upturn to put new units on the market
The property market, along with exports, were leading drivers of the booming Chinese economy over the past decade and the slumps in both have taken a heavy toll.

Cao Jianhai, professor at the Chinese Academy of Social Sciences, a leading government think tank, said an apparent rebound in the property market was unsustainable over the medium term and being driven by a flood of liquidity and fraudulent activity rather than real demand.

He told the Financial Times he expected average urban residential property prices to fall by 40 to 50 per cent over the next two years from their levels at the end of 2008.

“Prices may not fall in the near term but I expect a collapse starting next year, followed by many years of stagnation,” said Mr Cao, known as one of the “three swordsmen” of the real estate market because of his influence as an official economist.

Average urban housing prices across 70 cities in China fell 1.3 per cent from a year earlier in March but were up 0.2 per cent from February, according to figures released on Monday by the National Bureau of Statistics.

That broke seven months of sequential declines and was accompanied by a rebound in transaction volumes.

Residential property sales rose 8.7 per cent from a year earlier in the first quarter in terms of floor space sold, compared with a fall of 20.3 per cent for the whole of 2008.

Real estate agents in the residential property bellwether of Shanghai said the market seemed to have bottomed out as a result of government stimulus measures, falling prices and pent-up demand from owner-occupiers.

But Mr Cao said preliminary government investigations had turned up numerous examples of real estate developers using fake mortgages to offload apartments on to the books of state-run banks facing enormous pressure from Beijing to rapidly increase lending to boost the economy.

Sales are also being driven by real pent-up demand from urban citizens, but Mr Cao said many were jumping into a false rebound because they had never seen house prices drop before.

Before widespread privatisation of real estate began in the late1990s, most city dwellers were allotted housing by their work unit or by the state. The first private home mortgages since the 1949 communist revolution were granted barely a decade ago by state-owned banks.

At a national level, average housing prices tripled between 2003 and the peak in mid-2008 and are now 10 to 12 times average income, which means 60 per cent of homebuyers’ monthly income must go to mortgage repayments, Mr Cao said.

The volume of empty apartments across the country hit 91m sq metres at the end of last year, up 32.3 per cent from a year earlier, according to official figures.

Those numbers included neither the huge volumes of completed real estate projects whose owners are waiting for market conditions to improve before they put them on the market, nor the estimated 587m sq m or apartments sold in the past five years but left empty by their owners.

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Egypt widens Hizbollah crackdown

By Anna Fifield in Beirut

Published: April 13 2009 15:17 | Last updated: April 13 2009 15:17

Tensions between Egypt and Lebanon’s Hizbollah group have escalated after the Shia movement admitted that one of its members had been smuggling weapons from Egypt to the Gaza Strip.

The Egyptian authorities were chasing 10 Lebanese men on Monday, allegedly members of a Hizbollah cell, on the Sinai peninsula, which shares a border with the Gaza Strip, in a crackdown on a group that they claim was planning to attack Egyptian institutions and Israeli tourists.

The government in Cairo said on Friday said that it had arrested 49 Egyptian, Palestinian and Lebanese men linked to Hizbollah, and charged that they were engaged in espionage as well as plotting to destabilise the country.

Sayyed Hassan Nasrallah, the leader of Hizbollah in Lebanon, said accusations that his fighters were going to attack targets in Egypt were “baseless” and were an attempt to “defame Hizbollah’s pure and untarnished image”.

But he admitted that one of the 49 people arrested, a Lebanese named as Sami Shehab, was in Egypt on a “logistical mission” related to the Gaza Strip.

It was a rare admission from Hizbollah, which is ostensibly a Lebanon-based resistance movement, that it was working outside its borders, to help Hamas, the Sunni militant group that controls the Gaza Strip.

“If aiding the Palestinians is a crime, then I am guilty and proud of it,” Mr Nasrallah said in a speech televised by a Hizbollah-run network.

Hizbollah is backed by Iran and Syria, Egypt’s regional rivals, and all three fiercely criticised Cairo during Israel’s attack on Gaza, which began in late December, for not opening the border into the Palestinian territory.

“There are parties in the Arab world that oppose the resistance and are very close to their American and Israeli masters,” Mr Nasrallah said, referring to the Arab countries that have not backed Hamas, its ally in Gaza.

Mr Nasrallah’s admission last week, however, has sparked an angry outcry in the Egyptian press, which lambasted Mr Nasrallah as a war criminal.

Analysts said that this incident was part a tug of war between Egypt on the one hand, and Iran and Hizbollah on the other.

“Egypt interpreted this as an Iranian threat to Egypt and responded accordingly,” said Paul Salem, director of the Carnegie Middle East Centre. “They’re raising the ante against Iran and Hizbollah and saying ‘don’t mess with us and expect to get away with it’.”

During Israel’s Gaza offensive Egypt was caught between the need to appear to be helping Palestinians and its desire not to jeopardise its peace treaty with Israel. It has made clear that its territory should not be used to smuggle weapons to Hamas.

Hizbollah’s attitude during the recent war was to put pressure on Arab governments to support the Palestinians but to insist that it would not get involved in Hamas’ confrontational with Israel.

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Hitachi victory divides rail industry

By Peter Marsh

Published: April 13 2009 20:02 | Last updated: April 13 2009 20:02

A furious debate erupted within Britain’s £2bn-a-year rail equipment industry after the government decided to make Hitachi of Japan the preferred supplier for one of the most valuable train contracts awarded in the UK.

Companies in the sector cannot agree on whether the Department for Transport announcement is positive for British manufacturing businesses, many of them in a parlous state as a result of the recession.

The decision in February to make Hitachi the preferred supplier of up to 1,400 carriages that will operate on express routes was a big blow to Bombardier, the Canadian company that operates Britain’s only train factory, in Derby. The order is worth about £7bn

In announcing that they were ready to give the contract to a company without an existing UK production presence, ministers were emphasising their wish to see greater competition injected into domestic train manufacturing – even at the expense of the existing leading producer.

The imbroglio has resonances from the 1980s when plans by Japanese carmakers for their first British plants were opposed by leading domestic automotive parts producers. They feared that these companies would hand out few orders to local businesses.

New assembly plant plan

Alistair Dormer, head of Hitachi’s European rail operations, says he wants to involve a large number of UK-based suppliers in the contract for building about 1,400 new train carriages.

Under Hitachi’s plans, the trains will be assembled in a new UK plant – at a site yet to be chosen – which is due to be in operation well before 2013 when they are expected to be in service.

The location of the new factory has been narrowed down to a shortlist of three: Sheffield, Gateshead and Ashby de la Zouch in Leicestershire. The plant, expected to cost more than £100m, would eventually employ about 500 people, said Mr Dormer. However, he was unable to say when a decision would be made on the location.

Assuming the plant is built, it will become Britain’s second train production facility. Several plants have closed in recent years and the only one now in operation is in Derby.

That factory is run by Bombardier, the Canadian company that took it over when it bought Adtranz, a subsidiary of DaimlerChrysler, in 2000.

Between 1970 and 1990 the Derby plant – one of the world’s oldest trainmaking facilities – had been run by British Rail Engineering, part of the former state-owned railway operator.

In the event, the large investments by Nissan, Toyota and Honda revitalised the home vehicle components industry by providing work and also by spreading fresh production ideas in areas such as quality improvements.

Prof Nick Oliver, head of the University of Edinburgh Management School and an expert on Japanese manufacturing, said British component makers worried that Hitachi would fail to give them orders were showing a “blinkered” approach.

Plans by Hitachi to build a £100m factory in Britain to assemble its trains – with many of the components for this plant likely to come from this country – meant local suppliers could benefit in the long run, Prof Oliver said.

“There must be a chance that Hitachi could use this plant as a springboard for exporting its trains to the rest of Europe – and [that] could lead to big advantages for the UK supplier base,” Prof Oliver said.

Among critics of the decision is Andrew Cook, chairman of William Cook, a Sheffield-based castings group which supplies parts for bogies to Bombardier and other groups such as Siemens.

“This is a slap in the face for the UK, and also European, manufacturing,” said Mr Cook. He he feared most of the orders for components for the trains would go to Japanese companies.

Peter Roberts, managing director of Signal House, a company that makes signalling equipment, said the government had missed a chance to help British manufacturing.

That was difficult to understand, he said, given government thinking about trying to “rebalance” the economy in favour of production sectors and with less emphasis on financial services.

“This [the leaning towards Hitachi] was a poor decision especially when a lot of UK suppliers have huge holes in their order books as a result of the downturn,” Mr Roberts said.

Peter Heapy, product manager at Airscrew, a company near London that makes fans for rail propulsion systems, said: “Most UK rail suppliers are comfortable with Bombardier. On the other hand, many feel they will have less chance of getting orders from a relative newcomer in the shape of Hitachi.”

Dean Bradley, sales director of Oleo, a Coventry-based company making hydraulic “buffers” to protect trains, is upbeat about winning orders: “As a global supplier of a specialist product, we feel we will have some decent opportunities from the Hitachi order.”

Malcolm Pratt, operations director of AB Hoses & Fittings of Chesterfield, train -parts maker, said: “It would be wrong of us to close our minds to the chances of doing business with Hitachi. We’d be keen to talk.”

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三菱化学、中国石化最大手と提携　高機能樹脂など合弁生産

　三菱化学は14日、中国の石油化学最大手、中国石油化工（シノペック、北京市）と中国での事業で包括提携する。シノペックが低コストで調達した原料を使い、三菱化学の技術を生かして自動車向けの高機能樹脂を合弁生産するなど、原料調達から開発・生産・販売まで幅広い分野で協業する。日中最大手が組んで競争力を高め、中国を含むアジア市場に攻勢をかける中東勢に対抗する。

　具体的な提携内容については、両社で結成する作業チームで今後詰める。第1弾として、三菱化学が開発した製造技術を使い、石油精製の副産物から合成ゴム原料を製造する合弁工場などを検討しているもようだ。(14:31)

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住金、インドに製鉄所　2000―3000億円投資

　住友金属工業はインドで高炉からの一貫製鉄所を合弁で建設する方向で検討に入った。現地企業と合弁会社を設立し、2015年をめどに稼働させる。総投資額は2000億―3000億円の見通し。日本の鉄鋼大手がインドで高炉を建設するのは初めて。世界同時不況の影響で新興国でも足元の鉄鋼需要は頭打ちだが、社会インフラや自動車向けの成長を見込んで大型投資に踏み切る。

　インドの中堅鉄鋼メーカー、ブーシャン（ニューデリー）と設立する合弁会社に、ブーシャンが過半を、住金は3―4割をそれぞれ出資する方向。今後、事業化のための調査、インド当局との調整に入る。(10:03)

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伊藤忠、日米で太陽光発電を拡大

　伊藤忠商事は13日、日米で太陽光発電装置の販売・施工網を拡充すると発表した。米国では住宅向けシステム市場で約2割のシェアを持つ企業の株式85％を取得。日本では既設個人住宅向けの販売・施工専業会社に出資した。同社はこれまでに米で1社、欧州で3社を買収しており、太陽光発電の成長市場である日米欧3市場での事業規模拡大につなげる。

　米国ではソーラーネット（カリフォルニア州）の株式を創業者から買収した。買収額は明らかにしていない。同社は約800社の工務店のネットワークを持ち、住宅用と商業施設向けのシステムを販売・施工している。伊藤忠は2007年に同国で太陽光発電システム販売会社ソーラーデポを買収しており、住宅向け市場でのシェアは約3割と米国でトップになる。

　日本では日本エコシステム（東京・新宿）の株式67％をファンド会社などから取得した。6月までに85％まで買い増す予定。同社は現在までに累計で1万1000棟の販売・施工実績がある。伊藤忠が日本で太陽光分野に投資するのは初めて。

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資生堂、販売店を選別　３年後2000店に

　資生堂は国内の化粧品専門店での販売をテコ入れする。取引のある1万4000店の中から、有力販売店へ育成する約550店を選別し、販売促進費を重点的に配分するなどして営業を支援、資生堂商品の売り上げ拡大につなげる。3年後をメドに対象店は2000店へ増やす計画だ。

　4月から始めた新制度「ＰＳプログラム」に沿って対象店舗を選んだ。各店は今後3年間、毎年1割増の売り上げ拡大を目標に、新商品や販売ノウハウなどに関する資生堂の各種講習会に必ず参加。資生堂の商品や販促物を主体にした店づくりを進める。(07:02)

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Criminals 'Buying Identities For 50p'

8 hours 54 mins ago
SkyNews Sky News

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Underground criminals are buying personal identities for as little as 50p, a report on internet security has found. Skip related content
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For less than the cost of a can of coke fraudsters can buy your credit card details, your name, address and date of birth, the report found.

Data collected from over 200 countries showed 349.6 billion spam messages were sent in 2008, a 192% increase on the previous year.

The highest amount of spam sent to Europe, Asia and the Middle East is said to come from Russia, while Poland appears to host the most phishing websites.

Phishing websites are designed to be identical to trustworthy web pages so users are fooled into giving away their username, password and even bank details.

Symantec web security, who carried out the research, said despite the economic downturn online fraud is thriving.

"This recession proof underground economy is reaching such a level of growth and maturity that there are signs of a price war developing, as online criminals find it increasingly easy to steal private details, and barter to sell them for bargain prices," said Guy Bunker, Symantec's Chief Scientist.

"As above ground the world economy spirals, the Underground Economy has never been healthier."

Credit card information remains most valued, with details selling for as little as 40p and ranging up to £20 for the most desired cards.

Bank account credentials are fetching as much as £675 while full identities go for between 50p and £40.

Emerging countries are seemingly developing their own booming underground economies as their internet infrastructures and broadband populations grow.

Mr Bunker believes the world of online fraud is becoming more sophisticated.

"The illegal world of internet crime is no longer perpetuated by spotty teenagers, it is attracting intelligent adults, very often, in some of the world's developing countries such as Brazil and India.

"This booming Underground Economy really is bucking the global recession trend," he said.

Symantec's report is derived from data collected by millions of Internet sensors, first-hand research, and active monitoring of hacker communications.

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Turkmenistan may seek damages over pipeline blast

Yesterday, 03:35 pm
AFP

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Turkmenistan may seek financial damages over a pipeline blast that cut off gas exports to Russia last week, the foreign ministry said Monday. Skip related content
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Two workmen stand next to the a piece of a gas pipeline outside of the city Turkmenabat …More Enlarge photo

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* Turkmenistan has blamed Russian energy giant Gazprom for causing the explosion Enlarge photo

"Turkmen president (Gurbanguly Berdymukhamedov) asked the government to organise an international investigation to clarify the cause of the accident," a statement from the foreign ministry said.

Decisions would then be taken on "further actions from the Turkmen side, including those connected with compensation for Turkmenistan of the damages caused by the accident," the statement added.

Turkmenistan has blamed Russian energy giant Gazprom for causing the explosion last week on the Central Asia-Centre supply network by unexpectedly cutting its imports of natural gas, causing a pressure build-up.

The unusually public rebuke from the secretive ex-Soviet state sparked fears of another so-called "gas war" like the one between Russia and Ukraine that saw a halt in energy supplies to Europe earlier this year.

But analysts say such a conflict is unlikely and that Turkmenistan, an energy-rich Central Asian state that is among the world's most isolated, was likely trying to signal its growing confidence to Moscow.

Russia currently has a near-monopoly on Turkmen natural gas exports, but EU states have been eyeing Ashgabat as a possible partner in their efforts to break the Kremlin's grip on European energy supplies.

Playing on his strategic importance, Berdymukhamedov last month also offered the use of his country's airspace as a transit route for non-lethal cargo intended to support NATO forces fighting in neighbouring Afghanistan.

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「日本に謝罪」…かつて対日批判急先鋒の米ノーベル賞教授

　【ニューヨーク＝山本正実】「私たちは、日本に謝らなければならない」――。

　２００８年のノーベル経済学賞を受賞したポール・クルーグマン米プリンストン大教授は１３日、外国人記者団との質疑応答で、１９９０～２０００年代のデフレ不況に対する日本政府や日本銀行の対応の遅さを批判したことを謝罪した。

　教授は、「日本は対応が遅く、根本的な解決を避けていると、西欧の識者は批判してきたが、似たような境遇に直面すると、私たちも同じ政策をとっている」と指摘。「（３月で８・５％と）上昇する米失業率を見ると、失われた１０年を経験した日本より悪化している」と述べ、経済危機を克服するのは予想以上に難しいとの見方を示した。

　クルーグマン教授は９０年代後半、日銀にインフレ目標を設け、徹底的な金融緩和を促す論陣を張るなど、日本批判の急先鋒(せんぽう)だった。

　また、景気回復の見通しについては、「（景気判定では）今年９月に景気後退が終わっても不思議ではない。しかし、失業率は来年いっぱい上昇し続け、回復は実感されないだろう」とし、極めて緩やかな回復になるとの見方を示した。

　「１９３０年代の大恐慌では、景気の落ち込みには、何度か休止期間があった」とも述べ、回復に向かったとしても、一時的なものにとどまる可能性を指摘した。

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Nobel Prize-winning economist Krugman to speak at UI today

BY ASHLEY HAUGO | MARCH 27, 2009 7:35 AM

For those looking for a sugar-coated view of America’s current economic plight, Paul Krugman’s lecture most likely won’t be a fit.

“We’re in depression economics, and it could become very, very severe,” said the New York Times columnist, who won the 2008 Nobel Prize for economics.

Despite the columnist’s sometimes grim outlook, UI law Professor N. William Hines said he is looking forward to Krugman’s lecture — “Improving the U.S. Economy in the Short and Long Term” — at 4 p.m. today. The event is a part of the UI College of Law’s annual Levitt Lecture series, which was created in 1995 to bring distinguished law and government figures to the campus to present timely discussions.

“It will be interesting to see what a brilliant economist thinks about [the current economic situation] and how we get out of it,” Hines said.

Hines, the administrator of the lecture series, helped bring who he called “a prominent voice on how to solve the current economic crisis” to the UI to initiate a buzz on campus.

“I hope he will stimulate the community to have better informed and more frequent discussions on [the economy],” he said. “I hope he will be a stimulus, a catalyst.”

And Krugman is known to cause a stir. Amid some criticism that the current $787 billion federal stimulus package was excessive, he argued that the amount is nowhere near enough to generate a true economic recovery. He said he would have set the government’s tab at a minimum of $1.2 trillion.

However, UI economics Professor Ray Riezman said he disagrees with Krugman. Rather than increased government spending, he said, a reallocation of resources is needed to counter the disproportionate growth that occurred in the financial sector.

But Krugman thinks a fatter stimulus package could help the United States avoid a replay of Japan’s financial bubble bust that occurred roughly 20 years ago. The Asian country provided a “full dress rehearsal” for the U.S. economic situation, he said.

Unfortunately, he said, current U.S. actions are too similar to those taken two decades ago in Japan.

“We owe the Japanese an apology,” Krugman said. “We are exactly as slow.”

His outlook is not completely dismal. He is confident in the analytical abilities of those leading recovery action, he said — the shortfall comes with insufficient political action.

While the distinguished professor may spark talking points at today’s event, he said he won’t provide UI students with the secret formula for weathering the downturn.

“It’s hard to come up with advice,” Krugman said. “I don’t have any brilliant ideas.”

The lecture is free and open to the public; it will take place in Macbride Auditorium.

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母子家庭：就職予定の高３生　４割が生活苦で進学断念

2009年4月14日 15時5分　更新：4月14日 15時5分

　父親を亡くした母子家庭に育つ高校３年生の約３割が就職を希望し、うち４割が生活苦を理由に進学を断念していることが、遺児の進学を支援する「あしなが育英会」の調べで分かった。同会は「不況で母親の収入が減り、母子家庭がより厳しい生活に追い込まれている」とみている。

　調査は昨年１２月、同会の奨学金を受けている当時の高校３年生にアンケート形式で実施した（回答数５８２）。就職希望者は２７．８％（１６２人）で、同じ時期に文部科学省が調査した高校３年生全体の平均（１９．３％）を上回っている。

　就職希望者に理由を聞くと、「進学したいが経済的に進学できない」が２１％、「家計を助けるため」が１９％で、合わせて４０％が授業料などの負担を心配しやむなく進学を断念。元々進学に関心がないといった回答は１５％にとどまっている。

　同会の調べでは、父親を亡くした母子家庭の母親の勤労所得は０７年に約１３４万円。９８年と比べ３割以上下がり、一般世帯の約３割にしかならない。大学での奨学金希望者は年々増えているが、限られた資金の中で高校生への貸与を優先しており、大学生への貸与を増やすのは難しいという。

　工藤長彦（としひこ）理事は「高卒で就職すると大卒に比べ就労条件が悪く、将来に不安を感じている家庭も多い。大学全入時代といわれる今でも、遺児は希望しても進学できない実態を知ってほしい」と訴えている。

　同会は春の街頭募金を１８、１９、２５、２６の４日間、全国約２５０カ所で一斉に実施する。郵便振替（００１４０・４・１８７０６２　あしなが学生募金事務局）でも受け付けている。問い合わせは同会（０３・３２２１・０８８８）。

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出演者の権利を一括処理　芸能団体など新機構設立へ
2009.4.14 16:01

　芸能プロダクションでつくる日本音楽事業者協会（音事協）など芸能３団体は１４日までに、テレビ番組の出演者らの権利関係を一括して処理する新組織「映像コンテンツ権利処理機構（仮称）」を５月にも設立することを決めた。窓口を一本化することで、インターネット配信など番組の２次利用をしやすくするのが狙い。

　新機構に参加するのはほかに音楽プロダクション団体の音楽制作者連盟（音制連）と、俳優や演出家らの団体でつくる日本芸能実演家団体協議会（芸団協）。

　音事協などによると、新機構は番組の２次利用を希望するテレビ局などからの申請を受け、出演した俳優らと許諾の交渉を行う。また、利益配分など権利処理に関する指針づくりも進める。実際の業務開始は来年４月以降になる見込み。

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Dispute escalates over Egypt mobile operator

By Ben Hall in Paris and Andrew Parker in London

Published: April 13 2009 22:22 | Last updated: April 14 2009 00:36

A dispute between France Telecom and Orascom over control of Egypt’s largest mobile telephone company escalated on Monday as the two companies traded accusations and threats.

Orascom Telecom in effect gave its French partner an ultimatum to hand over the money for Orascom’s stake in holding company Mobinil and offer a higher price for Orascom’s direct stake in ECMS, the Egyptian mobile operator.

Naguib Sawiris, chairman of Orascom Telecom, told the Financial Times that if France Telecom had not concluded a purchase of Orascom’s 28.75 per cent stake in Mobinil by Wednesday, no transaction would ever take place.

Mr Sawiris said as a sign of good faith he was giving France Telecom until Wednesday to conclude a transaction. However, he warned: “There is no judgment that is indefinite.”

The former French monopoly hit back by accusing Orascom of “media agitation”. It reminded it that it risked a $50,000 a day penalty it if refused to complete the sale of its Mobinil shares.

The spat between the two companies is the latest twist in a protracted legal battle for control of Egypt’s largest mobile operator by subscribers.

France Telecom won an international arbitration panel this month that forces Orascom to sell the French company its 28.75 per cent stake in Mobinil, a holding company that owns 51 per cent of ECMS at a price of 441.66 Egyptian pounds ($80) per share.

Orascom accepted the ruling but argued that under Egyptian law France Telecom would also have to buy Orascom’s 20 per cent direct stake and other minority shareholdings in ECMS at an “equivalent” price of 273.26 Egyptian pounds.

Mr Sawiris denied he was simply trying to extract the maximum price for Orascom’s directly held 20 per cent stake in ECMS.

France Telecom rejected Orascom’s argument. The company insisted that its compulsory tender for ECMS shares was not covered by the same price formula that had been stipulated in the arbitration ruling for the Mobinil holding company.

The French operator instead offered to buy up minority stakes in ECMS at 200 Egyptian pounds, a 33 per cent premium to its share price on April 5.

However, the French company suffered a set back last week when the Egyptian market regulator sided with Orascom.

The regulator said France Telecom’s offer was “completely removed” from the price established by the court.

The French incumbent said on Monday that it wished to resume talks with the Egyptian regulator about making a “fair offer” for minority shareholder.

It said it had been unable to complete the purchase because Orascom’s shares in Mobinil were still being held in the name of the bank creditors.

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Raising a billion: Jonathan Breeze

By Natalie Graham

Published: April 10 2009 13:08 | Last updated: April 10 2009 13:08

Jonathan Breeze, 37, founder and chief executive officer of Jet Republic, launched the private jet company last September, placing a $1.5bn order in Europe for 110 Bombardier Lear Jets. In 2011, turnover is forecast to hit $500m, reaching $1bn by 2013.

Breeze began his career in the RAF and, as a Hercules pilot, was involved in humanitarian and evacuation flights.

In 2002, he joined NetJets as a pilot, later becoming an instructor and captain. In 2003, he was asked to set up a commercial office to manage costs, then took over procurement as commercial director.

In June 2007, Breeze led a management team, partnered with Euram, the Austrian private bank, to acquire Travelex’s concierge service. The company, rebranded as WhiteConcierge, is a global concierge business serving banks and private banks.

Breeze, who is based in Lisbon and Geneva, holds an MSc in Air Transport Management. He is a Fellow of the Royal Aeronautical Society.


Did you think you would get to where you are?

No, it was not planned. Typically, when you retire from the RAF at 30, you would join a commercial airline and fly until you retire at 55 or 60.

Nothing could have been further from my mind than setting up my own company. I must have been 32 when I realised that there was an opportunity to move into business jet aviation. I was the commercial director until 2004 for our only competitor, one of my former employers, NetJets, owned by Warren Buffett’s company Berkshire Hathaway. As I got more involved in running someone else’s business, I realised that I could do a better job by running an improved version myself.

It is very easy to criticise what goes on around you when you work for someone else, but quite a different matter to use your own resources to try to turn those weaknesses into an opportunity. I committed a significant amount of wealth I had created from other businesses. We are talking about an eight-figure sum, many millions of dollars.

When we made the decision to buy 110 aircraft, we knew there was a financial meltdown coming. In some respects, you have everything going for you in a recession. You have got a choice of staff because the best pilots are coming out of the military and the airlines are not recruiting. And when you talk to manufacturers, they really need you.

Jet Republic is on track to be turning over more than $1m a day next year.


What is the secret of your success?

Hard work, an eye for an opportunity, and the ability to recruit teams, because these things are always people businesses.

What I have ended up doing is creating a technical and behavioural performance specification for our pilots. I would never step in for an absent pilot myself because then it would mean that the business could not carry on without me, which certainly isn’t the case.


How did you feel after raising more than $1bn?

I was humbled. You spend so much time and energy on a project, then other people who are not connected to the industry coldly analyse it and give you a cheque. Raising the money was an extraordinary achievement, but it only got me to the start line.

Euram Bank, based in Vienna, funded the business and put together its own customer base of investors. The funding covered substantial deposits on 110 aircraft, plus starting up the airline operation, which has so far involved hiring staff from all over Europe. Our first aircraft are delivered this year, so we are on target for a $150m turnover, which should rise to about $350m next year.


What is your basic business philosophy?

Serve the customer. Our job is to take them from where they are to where they want to be, as effortlessly as possible. You are treating a customer in a way you expect to be treated at your favourite restaurant. Most don’t do that well.

We pay attention to every detail. It is personal service and attention to detail that can keep a business afloat. You realise from day one that the customer is king. You cannot fail on customer service.


Do you want to carry on till you drop?

It is a good question. The thing is, I love what I’m doing and, as long as I am doing what I am passionate about, why should I stop? I understand people who are fed up with their jobs and want to retire but I hope I am never in that position.

Have you had time for personal financial planning?

I work with a couple of private banks, and have begun to discuss long-term financial planning with them. I work with tax advisers in the UK, Portugal and in Switzerland, where I am based.


What was your most prudent investment?

It was quitting my job and backing myself with my own resources to help purchase WhiteConcierge, my first company. I sold my flat in London and I took out the equity I had in another house. I also quit the best paying job I ever had – in doing so, giving up hundreds of thousands a year of income from Air Partner, the company I joined after NetJets. If you don’t do it, then you don’t deserve the success because you don’t risk anything.


Have you made any pension provision?

I have a small RAF pension that I will get at 65 and I imagine it will be worth very little. Beyond that, I do not have a formal plan. I hope that, with the success of Jet Republic, I will not need to worry about a pension, but I intend to have a diverse portfolio of cash, investment properties and the business.


Have you taken steps to pass on your wealth?

I’ve made a basic will, because I was obliged to in the RAF. As for estate planning, I have not done that yet. It needs to be addressed in the near future.


What is your attitude to philanthropy?

I think philanthropy is the next phase of my life. I would like to formalise how specific charities can benefit from a percentage of my investments, giving them long-term benefits.


Do you allow yourself the odd indulgence?

When I can, I like to ski, mostly in the French Alps but a little in Switzerland as well. The indulgence is taking time out from running the business. I go away on a Friday and come back on Monday. I was a downhill ski racer for the RAF. I probably had more courage than talent but I certainly enjoyed it.


What is your money saving tip in the recession?

Buy a fraction of an aircraft instead of a whole one. By only spending £1m, you are saving £9m! The majority of my customers are entrepreneurs, many of whom are either selling their own aircraft or who will no longer contemplate a full aircraft purchase.

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痴漢事件で防衛医大教授に逆転無罪　最高裁が判決

2009年4月14日19時7分

写真：無罪判決を受けての会見後、逮捕当時の様子を記者に説明する名倉正博さん＝１４日午後、東京・霞が関の司法記者クラブ、越田省吾撮影無罪判決を受けての会見後、逮捕当時の様子を記者に説明する名倉正博さん＝１４日午後、東京・霞が関の司法記者クラブ、越田省吾撮影

　電車内で女子高校生に痴漢をしたとして強制わいせつ罪に問われた名倉正博・防衛医大教授（６３）＝休職中＝の上告審判決で、最高裁第三小法廷（田原睦夫裁判長）は１４日、懲役１年１０カ月の実刑とした一、二審判決を破棄し、無罪を言い渡した。

　検察側は、名倉教授が０６年４月１８日朝、東京都世田谷区内の小田急線で女子高校生（当時１７）の下着に手を入れて下半身を触ったとして起訴した。名倉教授は一貫して無罪を主張したが、一審・東京地裁、二審・東京高裁はいずれも女子高校生の供述の信用性を認めて有罪とした。

　第三小法廷は、（１）女子高生は痴漢の被害が始まってから一度電車を降りたにもかかわらず、再び同じ車両に乗って教授の隣に立った（２）痴漢行為が執拗（しつ・よう）なのに、車内で積極的に避けていない――などと女子高生の痴漢被害に関する供述には疑いがあると判断。「名倉教授が犯行を行ったと断定するには、なお合理的な疑いが残る」と結論づけた。

　最高裁が自ら判決で無罪を言い渡すのは異例。５人の裁判官が審理し、３対２の小差だった。

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痴漢裁判で逆転無罪の防衛医大教授「胸がすく思い」
2009.4.14 20:15
最高裁から逆転無罪を言い渡され、記者会見する名倉正博さん＝１４日午後、東京・霞が関の司法記者クラブ最高裁から逆転無罪を言い渡され、記者会見する名倉正博さん＝１４日午後、東京・霞が関の司法記者クラブ

　「収監される覚悟もしていた。司法への不信感が渦巻いていたが、それが拭（ぬぐ）われるような判決で、胸のすく思いがした」

　事件から３年。名倉正博教授は無罪判決を受けた感想をこう語った。法廷で主文を聞いた瞬間は「信じられず、全身の力が抜けた」という。

　「無罪判決が得られず、萎（な）えた気持ちを立て直す自分と戦いが一番つらかった」と名倉教授。「支えてくれた奥さまに報告は」と問われると、「おたがいに涙が出てしまって、『ありがとう』とだけ言いました。娘も同じです」と笑顔をのぞかせた。

　ただ、初動捜査や３０日間の勾留（こうりゅう）、１、２審については「人の一生をどう考えているのか。怒りを感じる」と語気を強めた。「犯罪者の汚名を着せられた人や、その家族を思うと言葉もなく、有頂天になる気もない」との配慮をみせ、自らの痴漢冤罪（えんざい）が“氷山の一角”であると位置づけた。

　主任弁護人の秋山賢三弁護士は「今後の冤罪救済に心強い判決。犯人を識別する供述証拠の信用性について、小法廷の裁判官の間で本格的な論争が行われたことがうかがえる」と評価、別の弁護人も「事実認定の教科書にもなるような論理展開」と語った。

　最高検の池上政幸公判部長は「被害者供述の信用性が否定されたのは遺憾だが、最高裁の判断であるので真摯に受け止めたい」とのコメントを発表した。

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経産省、ヨルダンと原子力協力文書

　経済産業省は14日、ヨルダン政府と「原子力協力文書」を結んだ。ヨルダンによる原子力発電を開発する際の人材育成や基盤整備、安全面の協力などを盛り込んだ。期間は5年とし、延長もできる。資源エネルギー庁の石田徹長官とヨルダンのアリ計画・国際協力相が都内で署名した。

　ヨルダンは2030年のエネルギー自給率100％を目標に、17年に原子力発電設備1基の運転を開始する予定。経産省はヨルダン原子力委員会からの協力の要請を受け、支援内容を検討していた。(20:01)

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「要介護認定軽くし給付費を抑制」　厚労省が内部文書
2009.4.13 20:34
要介護認定の新基準の影響を検証する検討会で、あいさつする舛添厚労相＝１３日午後、厚労省要介護認定の新基準の影響を検証する検討会で、あいさつする舛添厚労相＝１３日午後、厚労省

　厚生労働省は１３日、平成２１年度からの新しい要介護認定基準の導入に合わせ、介護給付費抑制のため要介護認定を軽めに誘導することを目指すなどとした「内部文章」を約１年前に作成していたことを明らかにした。

　作成理由については「実現可能性は問わず、２１年度予算要求の議論のため」としている。厚労省は、合わせて新認定基準の適用を一部先送りする経過措置の導入も発表したが、今後の国会審議で野党の批判が強まるのは必至だ。

　内部文書は、参院厚労委員会で、共産党の小池晃氏が存在を指摘。同日開かれた新認定基準見直しに関する有識者検討会の初会合で、厚労省の宮島俊彦老健局長が、局内の議論のため作成した資料であることを認めた。

　厚労省によると、内部文書は昨年２～４月、２１年度予算概算要求に向け、介護給付費抑制の具体的項目に関する検討資料として作成。要介護認定については、給付費負担の少ない「要支援２」と負担の多い「要介護１」の比率が「５対５」となっていることを取り上げ、新認定基準で判定ソフトなどを見直し「当初想定していた割合（７対３）に近づける」と明記し、介護給付費の抑制を狙っていた。

　ただ厚労省は、２０年度に実施したモデル事業で新認定基準を試行したところ、両者の割合が「４・５対５・５」となり、実際には要介護１の割合の方が増えると説明。自治体への指導の有無に対しても「望ましい標準として言及したものではない」としている。

　一方、厚労省は同日の検討会で、新認定基準の経過措置導入も発表。４月からの新認定基準で要介護度が変わっても、利用者の申請があれば最長２年間、元の要介護度に基づき従来通りのサービスが受けられるとした。

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投信への資金流入、９割減　08年度　金融危機で購入額急減

　投資信託協会が13日発表した投信概況によると、2008年度末にあたる3月末の公募株式投信の純資産残高は40兆3517億円となり、1年前に比べ30％減った。1951年の調査開始以来、年度ベースとして最大の落ち込みとなった。国内外の株価下落などで運用資産が目減りしたほか、資金流入額も前の年度に比べて9割近く減った。足元では外国株投信に資金が入り始めたが、残高の押し上げ効果はまだ限られている。

　08年度は円安による為替差損も重なり、運用成績が悪化した。投資家の新規購入から解約・償還を差し引いた資金流入額は1兆4256億円となり、前の年度に比べ88％減少した。昨秋の米リーマン・ブラザーズ証券の破綻以降に購入額が急減した。 (21:01)

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言い逃れ終始、元若麒麟に「反省ない」

　大麻取締法（所持）違反の罪に問われた大相撲元若麒麟の鈴川真一被告（２５）の初公判が１３日、横浜地裁川崎支部（阿部浩巳裁判長）で開かれて即日結審した。鈴川被告は起訴事実を認めたが、吸引は２回のみと常習性はないと主張。検察側は「反省がない」として懲役１０月を求刑し、裁判長は同被告の主張を「常識的に通用しない」と断じた。判決は２２日に言い渡される。

　鈴川被告は起訴事実を認め、吸引は「２回のみ」と主張した。供述調書によると、同被告は今年１月２９日に大麻を外国人から５・６９グラム購入し、当日に尾車部屋で、翌３０日に逮捕現場となった東京・六本木のＣＤ販売会社事務所で、１回ずつ吸引したという。

　被告質問で弁護側からそれ以前の吸引歴を問われると「興味はあったが、吸っていない」と断言した。検察側から「２回目で他人の事務所で吸うのは不自然。現場には大麻の巻き紙や粉砕器もあった」と指摘されたが、「興味本位だった」と言い続けた。

　これを受けて検察側は「不自然な供述で真摯（しんし）な反省の態度が見られない。大麻を常習的に使用した疑いがある」と同被告を強く批判した。裁判長までも「あなたの話を聞いて『ああ、そうですか』とはいかないし、常識的には通用しません。それはお分かりですね」とたしなめるように指摘した。

　鈴川被告は逮捕後に日本相撲協会を解雇され、５２９万円の養老金（退職金）も辞退している。２月２７日の保釈後、まげを切り、この日は丸刈りで黒いシャツ、黒いズボンで出廷。「（師匠の）尾車親方（元大関琴風）をはじめ相撲協会などいろんな人に迷惑を掛け、深く反省している」とうつむきながら話した。弁護側も「既に社会的制裁を受けている」と主張して執行猶予付きの判決を求めた。

　しかし、昨年９月に同協会が十両以上の力士を対象に行った尿検査で元露鵬、元白露山が陽性反応を示し、鈴川被告は３度目の検査で初めて陰性が確認された経緯もある。当時、同被告が「パクラレたらリスクはデカイか」と記したノートも神奈川県警に押収されているなど、常習性への疑いはぬぐえない。裁判長による異例の指摘もふまえ、この日の公判で鈴川被告の立場は、さらに厳しいものになった。

　［2009年4月14日8時31分　紙面から］

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大相撲大麻：理事長、文科相に抜き打ち検査態勢整うと報告
塩谷文科相（右）に謝罪する武蔵川理事長（中央）＝文科省で２００９年４月１４日午後３時１７分、大矢伸一撮影
塩谷文科相（右）に謝罪する武蔵川理事長（中央）＝文科省で２００９年４月１４日午後３時１７分、大矢伸一撮影

　日本相撲協会の武蔵川理事長（元横綱・三重ノ海）は１４日、塩谷立文部科学相を訪ね、昨夏から続発している力士の大麻事件について謝罪し、再発防止に関する報告を行った。

　武蔵川理事長は冒頭、「誠にご迷惑をおかけしました」と頭を下げた後、今年初場所後に起きた元十両・若麒麟（解雇処分）の大麻所持事件に触れ、「昨年末に研修会を開き、協会一丸となって指導、教育していこうとしていた矢先で、本当に残念」とわびた。再発防止策として、違法薬物の抜き打ち検査を実施する態勢を整えたことを報告した。

　約３０分の会談後、塩谷文科相は「国技といわれる相撲だから、国民から信頼を得られるようにしてほしい。部屋のあり方など、新しい時代にふさわしいあり方がある」と話した。また、部屋の抜き打ち視察を協会側に改めて要望した。

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力士暴行死：山本被告は反省の意示すも遺族側は目あわせず

　大相撲の時津風部屋力士暴行死事件で１４日にあった名古屋地裁での論告求刑公判で、傷害致死罪に問われた前時津風親方、山本順一被告（５９）に懲役７年が求刑された。山本被告は最終意見陳述で反省の意を示したが、遺族側は目も合わせないまま。前親方が起訴内容を否認しているだけに、その態度からは真意をはかりかねていた。

　傍聴席では、亡くなった斉藤俊さんの母親が遺影をひざ元で掲げて裁判を見守った。検察側が論告で「わずか１７歳の息子に先立たれた両親の心痛・衝撃は大きい」と述べると、母親は何度も涙をぬぐった。山本被告は約２時間の公判中、目を閉じたまま。最終意見陳述で「毎日反省しています。ご遺族にはおわびしても、し切れません」と話し、傍聴席の遺族に向かって一礼したが、終了後は遺族を振り返ることなく、すぐに退廷した。

　また弁護側は、けいこでの「気合入れ」について「平手でほおを張る、体を手でたたく、転んでいる者をける、棒などで体をたたくなどの行為」と弁護側に話した日本相撲協会の武蔵川理事長（元横綱・三重ノ海）の証言を引用。この見解が「相撲界において通説的・一般的な見解、感覚」と指摘。執行猶予を求めた。

　武蔵川理事長は求刑について「協会として解雇した人物だから、今ここで私がコメントすることは差し控えたい」と述べるにとどまった。判決は５月２９日に言い渡される。

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力士死亡、前親方に７年求刑　検察側「暴行の首謀者」主張

　大相撲時津風部屋の力士、時太山（当時17、本名斉藤俊さん）が暴行され死亡した事件で、傷害致死罪に問われた前時津風親方、山本順一被告（59）の論告求刑公判が14日、名古屋地裁（芦沢政治裁判長）であった。検察側は「事件の首謀者で、共犯の兄弟子よりも刑事責任は重い」として懲役7年を求刑した。

　弁護側は、業務上過失致死罪などの適用が妥当とし、執行猶予付き判決を求めて結審した。判決は5月29日。

　検察側は論告で、争点の一つとなった兄弟子との共謀の成立について、「自らビール瓶で殴打したうえで『おまえらも教えてやれ』と暴行を加えるよう指示した」と指摘。死亡直前のぶつかりげいこについても「通常のけいこの範囲を逸脱しており、違法性の認識は明らか」と述べた。(16:00)

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力士死亡事件　元親方に懲役７年求刑　『暴行指示明らか』

2009年4月14日 夕刊

　大相撲時津風部屋の力士だった斉藤俊（たかし）さん＝当時（１７）、しこ名・時太山（ときたいざん）＝がけいこ場で死亡した事件で、傷害致死罪に問われた元時津風親方山本順一被告（５９）に対する論告求刑公判が十四日、名古屋地裁であった。検察側は山本被告に懲役七年を求刑。弁護側は親方としての監督を怠ったことによる業務上過失致死罪の成立にとどまるとして、刑の執行猶予を求め、公判は結審した。判決は五月二十九日に言い渡される。

　結審直前に証言台に立った同被告は「俊君のご両親には、詫（わ）びることしかできない。反省して自分の人生を見直したい」などと涙声で話し、傍聴席の遺族に頭を下げた。

　検察側は論告で、「相撲部屋から逃げ出した斉藤さんを痛めつけるために暴行を指示したのは、現場にいた弟子たちの証言で明らかだ」と指摘。その上で「最後に山本被告が追い打ちをかけた。犯行を否認して責任を弟子になすり付ける態度は悪質だ。相撲部屋の親方としてあるまじき行為で、相撲界の信頼も低下させた」として、刑が確定した兄弟子三人（懲役二年六月－三年、執行猶予五年）より重い刑を求めた。

　弁護側は最終弁論で「兄弟子の勝手な暴行が死亡の主因」と反論。斉藤さんが死亡する直前のぶつかりげいこを同被告が命じたことについては「ぶつかりげいこは強くなるための最良のけいこで、名古屋場所で勝ち越すためにやらせた。このけいこをすることで他の弟子との関係も修復できるという狙いもあり、ぶつかりげいこは通常のけいこの範囲内だった」と主張した。