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...Friday Check in at Beit al Mamlouka, www.almamlouka.com, a boutique hotel in a restored courtyard house in the Old City, and one of Damascus' best. Dine on French and Syrian cuisine in a pretty courtyard round the corner at Elissar, tel: (963-11) 542 4300. The mezze are a meal in themselves. (See 50 essential travel tips...
...With the long nuclear winter finally over, you might think that execs at Areva, the world's biggest nuclear-energy company, are strutting just now. But you'd be wrong. The state-owned French giant is scrambling not just to rectify a series of snafus at a high-profile reactor it's building in Finland, but also to raise more than $10 billion in new capital and weather the loss of an important industrial partner. All that has raised concerns that CEO Anne Lauvergeon - who fused a disparate collection of firms into the first one-stop-shop nuclear conglomerate, winning...
...surprise that the industry's 800 lb. gorilla is French. Back in the 1970s, when most Western nations reacted to the end of the first oil crisis by forgetting it ever happened, France decided to kick its petroleum habit by pouring money into its young nuclear industry. France now has 59 operational reactors, which generate 80% of the country's electricity and have allowed it to become a net exporter of power...
...Worried that Areva may be headed for even bigger problems, the French government, which owns 90% of the company, demanded an internal review earlier this year. French media reports speculated that Lauvergeon could get the heave-ho as part of the evaluation, which looked at finances and strategy. The government was also reportedly upset that Lauvergeon continued to resist pressure from the Elysée to meld Areva with private French engineering company Alstom and private construction giant Bouygues to create a national nuclear megacompany...
...Areva also plans to sell off its shares in a number of smaller French companies as well as T&D, an energy-transmission affiliate that it bought for around $1 billion in 2004, which is now valued at nearly $5 billion and accounts for 20% of the company's profits...