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  • Olympic Newsdesk - German/Russian Olympic Summit; Olympic Stocks Rebound


    President Dmitry Medvedev and German Chancellor Angela Merkel will meet in Sochi next week. (Getty Images)
    German Chancellor Angela Merkel will meet Russian President Dmitry Medvedev in the 2014 Winter Olympic city of Sochi on August 14.

    The summit, coming a year after they last met in the Black Sea resort, is set to focus on international topics, according to a German government spokesman.

    Merkel may also discuss with Medvedev how Germany can help Sochi in preparations for the Winter Games.

    Sochi 2014 organizers have much to do to build venues and develop infrastructure for the Olympics. They are on a fast-track timetable. All venues are scheduled to be under construction by the end of 2009, with completion due early in 2012 to allow for two years of test events.

    The issue of Russia's strained relations with Georgia that have threatened the security of the 2014 Olympics is also likely to come up. Merkel visited Sochi last August during the five-day war between Russia and Georgia that ultimately led to Medvedev's government recognizing the independence of South Ossetia and another former Georgian republic, Abkhazia.

    Olympic Stocks Benefit from Market Rebound

    Sponsors’ stocks on the Dow Jones Summer/Winter Games Index (DLOX) benefited from the recent market rebound, finishing trading on Tuesday at 111.32 points. At the time of writing on Wednesday, it was trading just under level of Tuesday’s close.
    Stocks on the Dow Jones Olympic index climbed back to just under their value during the Beijing Olympics. (Getty Images)

    The almost three-year-old index was at an all time low of 69.7 points on March 6, but has steadily climbed since then.

    At the start of the Beijing Games the index was valued at 120.45 points, and has generally followed the trajectory of the rest of the market since then.

    The Dow Jones Summer/Winter Games Index measures the performance of all publicly traded companies that are official partners, sponsors or suppliers of the Vancouver 2010 Olympic Winter Games.

    Mihir Bose Resigns as BBC Sports Editor

    The BBC’s first sports editor, Mihir Bose, resigned on Tuesday, effective immediately.

    Bose, 62, stepped down for “personal reasons”, and a spokesperson for the BBC declined to elaborate. Bose was in the job for only two-and-a-half years.
    Mihir Bose stepped down as BBC sports editor on Tuesday. (BBC)

    Media reports in the U.K. say Bose resigned to care for his sick mother in India.

    As sports editor, Bose was brought in to reshape and expand the corporation’s work covering sport. Prior to joining the BBC, Bose worked for several British newspapers for 30 years. He was born in India and originally came to the U.K. to go to university. He started his journalistic career at London radio station LBC.

    Written by Mark Bisson and Ed Hula III.

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