Word: state-run
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...vicious dwarf who bewitched a city into regarding him as a wise ruler - particularly infuriated Putin and his camp. The ax fell in mid-2000, when Gusinsky was accused of embezzlement and arrested. He left the country and eventually was forced to sell his assets to Gazprom, the state-run natural-gas monopoly that would later use its security force to stage a dramatic on-air takeover of NTV. Parfyonov chose to stay rather than join colleagues who resigned in protest. Namedni has been NTV's main political news program since September 2001, and Parfyonov became the network's best...
...Despite competition, her 300-employee company has managed to expand, using its $10 million in assets to secure small loans from banks. But obtaining financing still challenges her creativity. In 2000 she bought two ailing state-run factories, borrowing heavily from a real estate developer she knew to fund the purchases. Such alliances sometimes involve dangerous trade-offs: last year Qingrong was obligated to guarantee a $200,000 loan made to one of her benefactors, accepting that she would be on the hook if it defaulted. "I was terrified," she says. "If we'd had to repay, we would have...
...company closed, laid-off workers would raise a fuss. The case is not an isolated incident. Yan Guosong, general manager of a Chengdu loan-guarantee agency, estimates that more than half of government-backed business loans are now going to state enterprises. "The central government created guarantees to help small businesses, but it wound up lending to state-run companies anyway," he complains...
...Seoul. President Kim's crowning achievement?his 2000 Nobel Peace Prize?may thus be tainted by charges of checkbook diplomacy. After a three-month investigation, the Board of Audit and Inspection of Korea declared that, just a week before the summit, $332 million was transferred from the state-run Korea Development Bank into Hyundai Merchant Marine, a subsidiary of the Hyundai conglomerate, which has connections to the North. The business kept $146 million for itself, while $186 million was paid directly to North Korea. President Kim, entering his final month in office, could only offer rationalizations. "The unique circumstances...
...often muddied by political considerations. The CSRC would like to approve more private companies, which generate the bulk of China's new jobs, are growing fast and might thus be attractive to prospective investors. However, the CSRC remains part of the State Council, China's Cabinet, which insists that 75% of new listings must be state-run companies-many of which are hopelessly inefficient and lousy investments...