New evacuations in Prague as flood waters rise
Date: 16-Aug-02
Country: CZECH REPUBLIC
Author: Alan Crosby
Weather has wreaked havoc across central and eastern Europe in the past week, with torrential rains and floods from Germany to Russia killing more than 70 people. Hundreds more have died in monsoon floods in South Asia.
Rising rivers flooded the historic city of Dresden, and Salzburg was threatened by the floodwaters that have brought death and destruction to whole swathes of the continent at the height of the summer tourist season.
In the Czech capital, waters of the river Vltava showed few signs of receding after they spilled over its embankments into the mediaeval Mala Strana district, beneath Prague castle, seat of the old Bohemian kings.
After evacuating more than 50,000 residents on Tuesday, officials early this week ordered the Old Town's historic Jewish quarter Josefov vacated, though most had already left. Several other residential areas were also being evacuated.
A crisis centre official said that at 0100 GMT, the Vltava was some 7.25 metres (22 feet) above its normal summer levels, and rising at about 15 centimetres per hour. A Reuters reporter in the Old Town however, reported no signs of flooding there.
"The peak of the flood will occur sometime between 0100 GMT and later in the afternoon this week," the official said.
With the water swelling higher and faster than previously forecast, emergency crews and volunteers worked feverishly to build sandbag walls to protect the picturesque quarter from serious damage and keep the water from the 13th century buildings on Old Town square.
Prague Mayor Igor Nemec said that while the worst was yet to come, the Old Town Square, home to the famous 15th century astrological clock whose hourly parade of the apostles is watched by thousands, might escape serious damage.
"The protective barriers (of sandbags) should not be broken. The Old Town should remain safe," Nemec said.
200,000 CZECHS FORCED FROM HOME
In all some 200,000 people across the country have been forced
This year's deals reflect two different corporate strategies, said Mazzariol at Violy, Byorum & Partners.
On the one hand, companies such as Gerdau trying to sell their products on the global market are strengthening their positions in key target markets such as the United States.
Companies like Companhia de Bebidas das Americas (AmBev) , meanwhile, have consolidated business at home and are searching for new markets, she said.
AmBev, the fourth largest brewer in the world, announced plans in May to buy 36 percent of Argentine beverage firm Quilmes for nearly $600 million. If the deal is approved by the Argentine government, analysts expect AmBev to eventually make a bid for control of the company.
Despite Argentina's prolonged recession, the neighboring country is a natural growth area for Brazilian firms taking a long-term outlook and looking to acquire companies at a discount.
Analysts say likely candidates for future expansion include steel companies, which are in the midst of global consolidation, and paper and pulp firms. Both sectors in Brazil are some of the most competitive globally due to low production costs and access to huge iron ore deposits and forests.
BBVA Securities analyst Rony Stefano believes Gerdau could continue expanding by leveraging its strong capital base off its low production costs. "They don't have anything in Mexico, which is a market which has a low cost and could be interesting for selling products in the United States," he said.
On the paper front, local groups Suzano and a consortium between Votorantim and Aracruz have already said they are interested in bidding in the privatization of Portuguese pulp maker Portucel.