World Bulletin / News Desk
A Middle Eastern consortium is poised to bid 1.5 billion pounds ($2.3 billion) for full ownership of Britain's Arsenal Football Club in the biggest-ever takeover of a soccer team, The Telegraph newspaper reported.
The bid is likely to be mounted in the next few weeks, seeking to buy out the current majority owner, U.S. sports investor Stan Kroenke, the British newspaper said.
The Middle Eastern investors do not want to reveal their identities yet but will be backed by funds from Qatar and the United Arab Emirates, the newspaper reported late on Saturday without naming its sources.
The consortium would make available transfer funds "to transform the club into a major force in European and world football", the newspaper quoted an unnamed source familiar with the plan as saying.
"The bid team regard Arsenal as one of the great clubs of European football but also one that is no longer punching its weight and is in danger of falling behind," it said.
The newspaper added that the consortium would pledge to reduce ticket prices at Arsenal's Emirates Stadium in London, and would aim to recreate there some of the atmosphere of Highbury, Arsenal's historic former stadium.
The takeover would raise questions over the future of Arsenal's manager, Arsene Wenger, although the consortium values his football knowledge and want him to remain at the club, The Telegraph said.
An acquisition would add to a string of investments in European soccer teams by Middle Eastern interests over the last several years.
Manchester City, the current English Premier League champions, were bought by a member of the Abu Dhabi royal family in 2008, while Kuwait's al-Hasawi family bought twice European Cup winners Nottingham Forest in July last year. France's Paris St Germain and Spain's Malaga are owned by Qatari investors.
The raise is expected to bring Israel's civil servants' salaries up to 5,000 shekels (around $1,282) from 4,200 shekels (roughly $1,076)
Russian sanctions have hit Lithuania's transport sector, which employs around 100,000, as well as its dairy industry.
The suspension comes as South Korea is struggling to contain its own outbreak of bird flu in birds.
Austrian Chancellor Werner Faymann justified the original sanctions as "a self-defence step", but added: "Our goal cannot be tightening the sanctions."
Both the European Union and United States adopted tighter restrictions on investments in Crimea this week, targeting individuals, Russian Black Sea oil and gas exploration and tourism.
Chinese Premier Li Keqiang said the offer included $1 billion for infrastructure, $490 million for poverty alleviation and $1.6 billion in special loans for China's production capacity export
Ukraine could default on its debt obligations if the situation does not change in the next few months, S&P said on Friday.
Damascus has relied on Tehran to fight its war with drop in oil price affects oil-producing Iran. Syrian traders say Damascus worried about future support
The ruble makes small gain Friday morning, but RTS index continues to contract
Norwegian energy company Statoil, which suspended 5 rigs in the last 2 months, granted $610 million for development of its gas fields
Putin earlier announced pipeline project via Bulgaria would be cancelled.
President Vladimir Putin said that Russia needed to take the opportunity to diversify its economy to protect it from external shocks.
Verdi said in a statement that workers at four of those centres had decided to continue their strike until Saturday and employees at the Graben warehouse would strike until Dec. 24.
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EU to tighten sanctions on Crimea in time for leaders summit to send message to Russia
The Organization of the Petroleum Exporting Countries declined to cut production at a Nov. 27 meeting and, despite slumping prices, major Gulf OPEC members have since shown no sign of reversing course