The website of Telenor,a state-controlled Norwegian telecoms firm,has a special section dedicated to its investments in Russia and its dispute with Alfa Group,its Russian partner.It is a long and unhappy saga filled with headings such as“Geneva arbitration”,“Court abuses” and“Black PR campaigns”.Telenor and Altima,the telecoms arm of Alfa,are shareholders in both VimpelCom of Russia and Kyivstar of Ukraine.In 2004 Altima,which wanted to expand its business in Ukraine further,suggested that VimpelCom buy another Ukrainian telecoms firm.Telenor resisted,saying that the price was too high.Altima accused Telenor of sabotaging its growth.
For several years the dispute rambled on,with several attempts at arbitration and suits and countersuits in various courts around the world.Then a company called Farimex entered the fray.It is registered in the British Virgin Islands and owns a 0.002% stake in VimpelCom.It complained to a court in Siberia that Telenor(which has no business in Siberia)had obstructed VimpelCom's entry into the Ukrainian market.The Siberian court ordered Telenor to pay compensation of $2.8 billion,a sum that was reduced to $1.7 billion on appeal.When Telenor refused to pay,arguing that it had not exhausted its appeals,another court seized most of Telenor's 30% stake in VimpelCom.On June 19th Russia's bailiffs ordered the auction of the stake to raise the $1.7 billion.In most countries this would be called expropriation.
Telenor says it believes the Farimex case is connected to its dispute with Alfa Group.It believes that it could reach an agreement with Alfa,provided its troubles with Farimex come to an end.But Mikhail Fridman,the boss of Alfa Group,says it is not affiliated with Farimex in any way,although he supports its complaint.Jens Stoltenberg,Norway's prime minister,has raised the subject of Telenor's dispute with Vladimir Putin,his Russian counterpart,who said the government was impartial.But as Telenor points out,Mr Putin himself has admitted that Russia's courts are unpredictable and are in urgent need of reform.
The clearest indictment of Russia's investment climate came a few days ago from IKEA,a Swedish retail chain,whose local operation has grown quickly since it opened its first store near Moscow in 2000. On June 23rd IKEA said it was suspending its investment in Russia because of the“unpredictable character of administrative procedures”,a euphemism for graft.
Among 181 countries surveyed by the World Bank for ease of doing business,Russia occupies 120th place,below Nigeria.Transparency International gives Russia barely two points out of ten—its worst performance in ten years,which puts it on a par with Kenya.Until recently the Kremlin had no need to worry about things like property rights and the rule of law.Its oil wealth ensured an economic boom,no matter how it treated investors.Most of the money that flowed into the country came in the form of loans rather than foreign direct investment.Now the loans have dried up.The Russian economy is forecast to contract by 8.5% this year,and it still blames the global economic crisis for its misfortunes.A closer look at IKEA and Telenor,as well as many of Russia's own companies,suggests the truth is more complicated.
注(1):本文选自Economist;
注(2):本文习题命题模仿对象:第1、2、3、5、4题分别模仿1997年真题Text 1第1、2、3、5题和Text 3 第2题。
1.From the first two paragraphs we can learn that ______.
A) this article will focus on how Telenor fights against Alfa Group
B) this article will describe how Telenor finishes the saga on its website
C) the dispute between Telenor and Alfa causes severe legal problems
D) the story of Telenor and Alfa is used to introduce the main topic
2.The author added“which has no business in Siberia”(Line 4,Paragraph 2)to indicate that ______.
A) Telenor was not interested in developing business in Siberia
B) it was ridiculous for Farimex to sue Telenor in Siberia
C) the Siberian court failed to make an impartial judgment
D) Telenor went to the appeal court because it was not satisfied with the Siberian court
3.Telenor and IKEA will probably agree that ______.
A) Russia should adjust its attitude toward cooperating with foreign companies
B) the Russian legal system is in need of much improvement
C) administrative procedures should be simplified in Russia
D) Russia should emphasize more on property rights
4.The word“euphemism”(Line 4,Paragraph 4)most probably means ______.
A) indirect expression
B) substitution
C) secret word
D) password
5.The author's attitude towards Russia's investment climate seems to be ______.
A) positive
B) suspicious
C) negative
D) indifferent