Word: easting
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...significant agreement of all: Beijing agreed to lend $15 billion to cash-strapped Rosneft, Russia's oil major, and another $10 billion to Transneft, Russia's biggest pipeline company. The loans will be paid off not in cash, but in crude - 300,000 barrels a day from the huge east Siberian oil field. That's about 4% of China's current total demand for crude, secured on very favorable terms. Over the 20-year life of the deal, Beijing will effectively be paying about $20 per barrel. Crude prices, which last summer peaked at more than $140 per barrel...
...film is not concerned with what will happen in the future. That makes it a blast of fresh air after the cacophony of talking heads that dominate news coverage from the Middle East. "As the project went on, the stories became more and more subtle and less and less propaganda," says executive producer Serge Gordey in Paris. "People were not saying the same mantra over and over." The documentary, which will screen at the South-by-Southwest Festival in Austin, Texas, on March 17, as well as on television networks in Israel, Canada, the Netherlands and Sweden in the coming...
...Brussels Bailout Denied The European Union dismissed a Hungarian-led request from nine hard-hit East European countries for a $240 billion economic bailout, saying that blanket spending would be ill-advised owing to each nation's unique financial outlook. Hungarian Prime Minister Ferenc Gyurcsany insisted that without funds, a 'new Iron Curtain' would divide Europe...
...meetings of the eurozone's finance ministers, dismissed the idea of relaxing the entry criteria to the euro. And French President Nicolas Sarkozy, who just a few weeks ago raised the specter of a return to protectionism when he suggested that French carmakers should close their factories in the East and move home, accused Eastern Europe of putting the entire E.U. at risk...
...Clinton did make two remarkable departures from the Bush Administration's Middle East policy. She urged Israel to open the border crossings to Gaza, the Palestinian coastal enclave, to allow in more humanitarian relief for the 1.5 million people there who are reeling under the impact of a 22-day Israeli assault that ended in January. Until its last days, the Bush Administration not only had backed Israel's offensive against Hamas militants in Gaza but had also supported a punishing, 19-month economic blockade of the territory. At an international donor conference in Egypt on Monday, Clinton pledged...