'HARASSMENT': Caracas said that it would fight energy giant ExxonMobil's legal salvos and that the court orders would not affect the state oil company's operations
Venezuelan Energy Minister Rafael Ramirez said on Friday that the government would not be "intimidated" by ExxonMobil of the US in a legal spat tied to the nationalization of key oil fields.

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WITHIN A DECADE: OPEC told a magazine it could make the change as members complain of a sharp decline in earnings because of a weak dollar
OPEC could switch the pricing of oil from dollars into euros within a decade, secretary-general Abdullah al-Badri told a weekly magazine.

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Finance ministers from the G7 nations yesterday urged world oil producers to boost their output to rein in soaring crude prices, a draft statement said.

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State-controlled natural gas giant OAO Gazprom could cut off gas to Ukraine as early as Tuesday morning if agreement is not reached on settling a debt, Russian news agencies quoted a Gazprom spokesman as saying.

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Some call it "Wiihabilitation."

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SHARE SALE: Two attempts in the past three years to sell off more than 50 percent of CSBC's shares failed due to weak industry prospects and macroeconomic conditions
By Kevin Chen
State-run CSBC Corp, Taiwan (CSBC, 台灣國際造船) plans to sell a majority of its shares in line with its goal of completing its long-delayed privatization by the end of this year.

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Polaroid Corp is dropping the technology it pioneered long before digital photography rendered instant film obsolete to all but a few nostalgia buffs.

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Launching more international charter flights and cooperating with travel agencies to create attractive tour packages could be remedies for declining passenger traffic and revenues at local airports that serve only domestic routes, the Civil Aeronautics Administration (CAA) said in a statement yesterday.

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OFFENDERS: Ten major polluters have already been shut and more firms near Beijing will be closed 30 days before the Games begin in August
China will shut coal-fired power plants, cement factories and chemical manufacturers near Beijing to reduce pollution before the Olympic Games in August.

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By Judy Lin
While the Lunar New Year holiday is traditionally a peak time for travel, domestic airlines struggled this year amid tough competition from the high speed railway and soaring fuel costs.

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