BP suffered another snub from Russia when Exxon Mobil signed a partnership with Rosneft, a Russian state-controlled oil company, in the presence of prime minister Putin; the deal is for exploration of energy reserves in Russia's Arctic region. BP earlier believed it had reached a similar agreement with Rosneft but it fell through when its previous Russian partner objected to it.
Portugal's centre-right coalition government unveiled the biggest state spending cuts for 50 years, an increase in capital gains tax and a levy on company profits. The new measures were necessary to meet the conditions of the eurozone bailout negotiated earlier in the year.
Israel said it was training settlers in the West Bank to repel violent protests that it said might break out later in September when the Palestinian Authority seeks recognition as an independent state from the United Nations.
In South Africa, Julius Malema the leader of the Youth League of the ruling African National Congress was accused of bringing the party into disrepute by his calls for a change in Botswana's government and support for President Mugabe's rule in Zimbabwe.
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