Word: state-run
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...Repsol-YPF has entered into a production-sharing agreement with Cupet and is scheduled to start drilling the first real well in the EEZ next year. Other international firms, including Norway's StatoilHidro and India's Oil & Natural Gas Corp., are part of the Repsol-led consortium. Venezuela's state-run Petroleos de Venezuela is considered a lesser player because it has little deep-water drilling experience. (China is also interested but so far only involved in onshore drilling in Cuba.) Cuba is now in important negotiations with Brazil's Petrobras, which just made its own multibillion-barrel oil find...
...their infinite wisdom, European governments have now decided that letting the state effectively get control of ailing banks is the way out the current financial mess. But the French government really messed up the last time it had control of a chunk of the nation's banking system. That was when President Francois Mitterrand nationalized banks in the 1980s. In fact, for a good part of the 1990s, the French budget was knocked sideways because of the losses incurred at just one state-run bank, Credit Lyonnais. The German state's track record in banking isn't much better. Regional...
...contamination have targeted distributors who buy milk from farmers and sell to the big dairies. These middlemen are likely to possess the technology necessary to adulterate raw milk. Police in central Hebei province have arrested 18 suspects, including two brothers who ran a milk collection station, the state-run Xinhua News Service reported...
According to Myanmar Ahlin, a state-run newspaper, Burma's military government released Win Tin and 9,001 other prisoners this week so they could participate in national elections planned for 2010. The polls will be part of the regime's seven-point "Roadmap to Democracy." Burma, also known as Myanmar, has been ruled by a series of repressive military regimes since 1962. Classified by the United Nations as among the world?s least developed countries, the agrarian nation in southeast Asia is still recovered from May's Cyclone Nargis, which killed an estimated 80,000 people and devastated...
...1970s was considered an avatar of the efficient European public company. There is a certain irony, Goldstein says, that it faces its death as the free-market oriented U.S. government steps in to bail out much of America's financial-services industry and China revs its own state-run economy. "There is a paradox that as the state elsewhere returns to play a prominent role in managing national economies, in Italy the state is too weak to handle this situation," says Goldstein. The Italian economy seems to suffer from the worst of both worlds: inadequate state and inadequate market...