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Commission proposals this October will force oil companies and others to publish more financial data (Photo: Paul Lowry)

Sarkozy, Barroso back greater transparency for extractive industry

by Andrew Willis, Brussels,

French President Nicolas Sarkozy has called on the European Commission to come forward quickly with legislation to regulate the commodities and raw materials sectors, warning that high prices are threatening global economic growth.

Paris has placed the subject high on the agenda of the group of twenty nations (G20) which it currently chairs, with Sarkozy keen to see movement from other regions before a leaders' meeting in Cannes this November.

Economists first became aware of th...

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Commission proposals this October will force oil companies and others to publish more financial data (Photo: Paul Lowry)

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