An auction of 1,200 bottles from the wine cellar of France's Elysee presidential palace began today with most of the proceeds to be invested in younger, more modest wines.
The two-day sale at the Drouot auction house is expected to fetch at least 250,000 euros and palace aides say any cash raised above that level would go into state coffers. France is struggling to lower its soaring deficit and find 60 billion euros in public savings over five years.
"It's the first time the Elysee Palace has decided to sell a part of its wine cellar," Ghislaine Kapandji of auctioneers Kapandji Morhange said.
The sale is dominated by wine from France's internationally prized Bordeaux and Burgundy regions, vintage 1960 to 1990, and includes famous names such as Chateau Latour, Chateau Mouton Rothschild, Pauillac and Montrachet.
A bottle of 1990 Petrus is estimated at about 2,500 euros, while a more modest Meursault can be had for about 50 euros.
Alsatian wine, some cognacs and champagnes will also be up for sale. Many bottles are ready to be drunk immediately.
Britain's government auctioned off vintage French wine from its cellar in March as part of a national austerity drive.
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France auctions Elysee Palace wine to restock more modest cellar
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Woman who failed to arrange adoption ends up in jail
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Update 2 - Malta wins first gold in Small Nations' Games - silver in swimming, table tennis and judo
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Elderly man injured in petard explosion
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Inquisitor’s Palace to open for free on June 7
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Pricey paperwork
The House of Commons spent more than £30,000 of taxpayers' money redesigning the document listing the day's parliamentary business.
The modernisation was aimed at making the order paper "better suited to electronic publication and distribution". Commons Speaker John Bercow was involved in discussions on the project. The new order paper was unveiled earlier this month as the new session began following the Queen's Speech.
A freedom of information request by the Press Association revealed the total cost of the project was £30,250. The project was approved by the Parliamentary Information, Communication and Technology Advisory Board, through "existing authorisation procedures".
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Digital Champion
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Mizzi in energy talks in Qatar
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Kuwait's KIPCO takes majority stake in Fimbank
Kuwait Projects Co (KIPCO), the Gulf state's largest investment firm by assets, has acquired a controlling stake in trade finance specialist Fimbank through two of its banking subsidiaries.
United Gulf Bank, KIPCO's Bahrain-based merchant banking unit and Burgan Bank, the Kuwaiti firm's commercial banking arm, got regulatory approvals to buy a combined 68.7 percent stake in Fimbank.
United said it has received the green light from regulators to acquire up to 43.7 percent of Fimbank, while Burgan said it was buying a 25 percent stake.
Fimbank specializes in international trade finance and is listed on the Malta stock exchange with a total market value of about $146 million, according to Reuters data.
"(Our) expected investment (in Fimbank) may reach up to $125 million over a period of time," United Gulf Bank said in the statement.
Burgan, the commercial banking arm of Kuwait Projects Co, said in October it was planning to buy the stake in Fimbank for an undisclosed price. The Kuwaiti bank bought the Turkish arm of EFG Eurobank last year.
KIPCO had assets worth $25.6 billion as at December 31, 2012.
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Arriva postpones summer schedule after drivers' roster dispute
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China 'pipe baby' mother raised alarm
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BA aircraft engine doors had been left unlatched
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Immigration relocation: a step back
During the French Presidency of the European Union in 2008, then President Nicolas Sarkozy had made a valiant effort to tackle the immigration problem through the signing of the EU Pact on Immigration and Asylum.
From a Maltese perspective, the pact signified a turning point. For the first time, there was overdue recognition of the massive problems faced by it.
Secondly, Malta secured a considerable concession through the inclusion in the pact of a resettlement arrangement which would enable the island to share some of the immigrants to whom asylum had been granted among other EU countries, albeit that disappointingly this was only to be done on a voluntary basis.
In 2009, the Commission launched a pilot project called Eurema designed specifically for member states voluntarily to relocate asylum seekers from Malta. Under European Parliament pressure, the Commission announced it would make a legislative proposal to make the scheme permanent.
Although the Commission had promised to make this proposal last year, it again postponed its launch as such a scheme would have required the backing of all member states. With the exception of Germany and France, few member states showed...
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Portugal’s main union calls strike against austerity
Portugal’s largest labour union has called a general anti-government strike for June 27 to protest against public sector pay cuts, layoffs and other austerity measures imposed to meet EU/IMF bailout terms.
The strike will encompass workers in the country’s public and private sectors, CGTP chief Armenio Carlos told reporters yesterday, adding that all other unions were welcome to join the Union’s directives.
“It is a strike for everyone, it is a strike to promote change of policy, of the government and to call for early elections,” he said.
Previous stoppages since Portugal’s mid-2011 bailout, including a general strike in November, have had little impact on the government’s stance.
But strife has intensified lately since April’s rejection by the Constitutional Court of some austerity measures that forced the government to come up with alternative spending cuts and other unpopular steps like raising the retirement age.
The country’s other big umbrella union, the UGT, has said it is likely to join the strike. It holds a strategy meeting next week. CGTP groups about 750,000 workers and UGT some 500,000 others.
The centre-right government imposed the largest tax hikes in living...
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Frankfurt protesters target ECB, banks and main city shops
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Sporting briefs
Wolves: Wolves appointed Kenny Jackett as head coach yesterday after sacking manager Dean Saunders following the club’s relegation to League One. The 51-year-old former Welsh inter-national midfielder was most recently manager of Championship side Millwall, taking them to the FA Cup semi-finals last season in his 300th match in charge.
Brady: Robbie Brady is out of Ireland’s World Cup qualifier against the Faroe Islands. The Hull winger sat out training yesterday with groin trouble. Assistant manager Marco Tardelli confirmed Brady’s departure, which will mean he misses next Friday’s qualifier and the friendlies against Georgia and Spain either side of it.
Casillas: Jose Mourinho has traded his final blow in his battle with Iker Casillas, by excluding the Spain captain from tonight’s season-closer against Osasuna. Mourinho will leave Madrid after the game, bringing to an end a tumultuous three-year spell in charge. The Portuguese is respected for winning the title last season but has isolated sections of the supporters owing to his rift with one-club goalkeeper Casillas.
Tate: Swansea have granted long-serving defender Alan Tate a testimonial against his former club Manchester...
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Football news
A Brazilian judge has lifted an injunction that threatened to block tomorrow’s Brazil vs England friendly in the newly-revamped Maracana stadium over public safety concerns.
The Rio de Janeiro state government said on Thursday night that the judge lifted the suspension order she had signed earlier in the day after missing paperwork was provided and the game will go ahead as planned.
With the England team already in Rio de Janeiro, the injunction came as a shock and threatened to scuttle the first game between England and Brazil in three decades at the stadium that is regarded as the spiritual home of Brazilian football.
Licence granted
Panathinaikos were among three clubs who have successfully appealed a decision to exclude them from the Super League next season, the Hellenic Football Federation (EPO) said.
All 16 top-flight clubs had their licences reviewed by the EPO’s licensing committee and while eight teams were approved, the other eight – including Panathinaikos – had their initial submissions rejected eight days ago.
However, following an appeal hearing that lasted until the early hours of yesterday, Panathinai-kos, PAS Giannina and Panthrakikos, secured top-flight football...
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Another European venture for Arsenal
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Treble-chasing Bayern take tilt at ‘immortality’
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’Pool say Suarez is not for sale
Liverpool have said striker Luis Suarez is not for sale after the Uruguayan, who received a 10-match English domestic ban for biting last month, stated he wanted to leave the Premier League club.
“Luis Suarez is not for sale. Neither Luis or his representatives have communicated these feelings directly to Liverpool,” said a club spokesman yesterday.
“The club remains supportive of Luis and expect him to honour his contract. The club will not be making any further comment at this stage.”
The 26-year-old, who signed from Ajax in January 2011, was second in the Premier League’s list of top scorers last season with 23 goals and was Liverpool’s talisman for much of the campaign.
He was banned for biting Chelsea’s Branislav Ivanovic.
The player, who served an eight-game suspension the previous season for a racist insult, told reporters in Montevideo on Thursday that British media had made his life impossible and he would like to play in the Spanish league.
“One has one’s limits, one has a family, who also suffer, and that’s very complicated,” he said.
“I have a daughter who I also have to look after, and take her away from where she sees things that are said about her father,” Suarez...
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