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Saturday, 7 September 2013

Sweden lashes out at Russian economic warfare in east Europe | Reuters

Sweden lashes out at Russian economic warfare in east Europe | Reuters:

"Sweden accused Russia on Friday of waging "economic warfare" against former Soviet republics that have been considering closer trade relations with the European Union and said the EU needed a strategy to resist Moscow.

The EU is planning to take steps towards signing trade deals with Armenia, Georgia and Moldova at a summit of regional and EU leaders in November in Lithuania, and could seal a similar agreement with Ukraine.

Closer economic ties with Europe would mark a clear break for the east European countries with their Soviet past, and such plans have fuelled Russia's concerns over a decline of its historical influence in the region."

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Saudi Gazette - MMG maintains promising strides in restructuring

Saudi Gazette - MMG maintains promising strides in restructuring:

"Mohammed Al-Mojil Group (MMG), one of the largest Saudi construction service providers, held its general assembly meeting on Wednesday at its head office in Dammam during which it approved the management and auditor’s report, financial results for the year ending Dec. 31 last year, appointed a new auditor for the current fiscal year, granted clearance to board members and appointed new board members for its current session.

“The restructuring plan, which we adopted during the extraordinary general meeting held on November 5, 2012, is moving at a steady pace and in line with our expectations, and is likely to produce further promising results within the forthcoming quarters, allowing MMG to regain its previous position as one of the leading Saudi construction services providers in the Eastern Region and the Kingdom of Saudi Arabia,” said Adel Al-Mojil, MMG Board Chairman. 

“We all know that restructuring companies takes time and patience, but in our case, we could, in an 18-month period, achieve positive financial results that will prove the success of our restructuring plan.” "

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