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  • MOSCOW, Aug 4- Russia said on Tuesday it has resubmitted a claim to the United Nations for some 1.2 million square km of the Arctic shelf, a drive to secure more of the mineral-rich region where other countries have rival territorial interests. This prospect has attracted other nations, including Norway, the United States, Canada and Denmark while international...

  • MOSCOW— Russia's prime minister has ordered preparation of retaliatory measures against several non-EU European nations that have joined the European Union's sanctions against Russia. Iceland, Liechtenstein, Norway, Montenegro, Albania, Moldova and Ukraine joined the EU sanctions last week. On Tuesday, Russia tightened controls on imports of cut flowers...

  • BUCHAREST, Romania— Romania's central bank forecasts that consumer prices will fall until spring next year after the government slashed the sales tax on food from 24 to 9 percent. The National Bank of Romania said in a statement Tuesday the reduction in sales tax on food, which went into effect June 1, had sent the yearly inflation rate to minus 1.6 percent in June...

  • A positive effect from a strong U.S. dollar will also compensate for a poor performance of Jamaica's sugar business, Chief Financial officer Paolo Marchesini said in a conference call with analysts after the results announcement. The Milan- based group said first-half earnings before interest and tax, excluding one-off items, rose to 139 million euros from...

  • MOSCOW— Russia has submitted a revised bid for vast territories in the Arctic to the United Nations, the Foreign Ministry said Tuesday. Russia, the U.S., Canada, Denmark and Norway have all been trying to assert jurisdiction over parts of the Arctic, which is believed to hold up to a quarter of the planet's undiscovered oil and gas. "The melting of the Arctic ice is...

  • Aug 4- The U.S. Department of Justice is investigating trades worth billions of dollars that Deutsche Bank AG made on behalf of Russian clients, a person familiar with the situation told Reuters on Tuesday. It had said in its second-quarter financial report that it was investigating equity trades by Deutsche Bank clients in London and Moscow that offset one...

  • KIEV, Aug 4- Ukraine's Finance Ministry said on Tuesday it had sent a fresh debt restructuring proposal to a group of its largest creditors, which it invited to a high-level meeting on Thursday for "decisive" negotiations. Talks to restructure $23 billion of Ukraine's sovereign and quasi-sovereign debt have dragged on for more than four months over a...

  • NEW YORK— Poland lacks probable cause to extradite a Russian art dealer living in New York on criminal charges accusing him of knowing that an 18th- century painting taken from a Polish museum by the Nazis during World War II was stolen property when he inherited it from his father, a judge ruled Monday. District Judge Jed Rakoff in Manhattan rejected the request...

  • BUCHAREST, Romania— Romanian authorities have charged Russian oil producer Lukoil with complicity in money laundering worth 1.77 billion euros. Prosecutors at the Court of Appeal in Ploiesti, where Lukoil's refinery is based, on Monday charged Romanian and Russian company managers for allegedly misusing the company's credit and capital.

  • MOSCOW, Aug 3- Russian gas sales to Europe jumped to an all-time high in July, gas export monopoly Gazprom said on Monday, as European customers capitalised on a steep fall in prices. Gazprom's gas prices are pegged to oil with a six-month lag, which means its customers are currently paying the equivalent of $45- $50 per barrel seen in January 2015 when oil prices...

  • BAGHDAD, Aug 3- Iraq's Kurdistan Regional Government said on Monday it would pay a portion of its revenue from direct crude oil sales to producers, in an apparent attempt to reassure foreign oil companies operating in the northern region. The move sets up semi-autonomous Kurdistan to continue independent oil sales, which it has increased since mid-June while...

  • KIEV, July 31- Ukraine on Friday hailed the issue of $1.7 billion of new aid from the International Monetary Fund, saying it would encourage growth in the economy and reassure financial markets abroad and at home. In a statement, Kiev's Finance Ministry said the disbursement of the second tranche of aid under a four-year Extended Fund Facility program would be...

  • PARIS, July 31- French President Francois Hollande said on Friday no agreement had been reached yet on the cancellation of a Mistral helicopter carriers deal with Russia and that he would take a decision in the coming weeks. Russian media had reported earlier on Friday that Paris and Moscow had reached a compensation deal for the cancellation of the delivery of...

  • Roche drug maker probed in Romanian graft case Friday, 31 Jul 2015 | 10:40 AM ET

    Roche Romania told The Associated Press it was "fully cooperating" with anti-graft prosecutors and would provide the requested information. Some 61 homes and offices were searched in Bucharest and in the northwest of the country on Tuesday in a probe centered on a number of medical institutes and the way certain cancer medicines were purchased and...

  • Georgia's economy slows in H1 from last year Friday, 31 Jul 2015 | 10:29 AM ET

    TBILISI, July 31- Georgia's economic growth slowed to 2.6 percent in the first half of this year compared with 6 percent in the same period last year, the National Statistics service said on Friday. Gross domestic product grew 4.7 percent last year, missing the government's initial forecast of 6 percent. Georgia, which is traversed by pipelines carrying Caspian...

  • WARSAW, Poland— A Polish court is looking into the management of a popular credit union after an audit revealed it is in the red. The Constitutional Tribunal is analyzing whether regulations running the SKOK credit union ensure the security of deposits made by some 2 million of its members. Last week Finance Minister Mateusz Szczurek said that the entire SKOK is...

  • *OPEC output up more than 1.7 mln bpd since policy shift. LONDON, July 31- OPEC oil output reached the highest monthly level in recent history in July, a Reuters survey found on Friday, as Saudi Arabia and other key members show no sign of wavering in their focus on defending market share instead of prices. OPEC supply has risen in July to 32.01 million barrels per day...

  • French PM sees decision on Russia Mistral deal soon Friday, 31 Jul 2015 | 8:03 AM ET

    PARIS, July 31- French Prime Minister Manuel Valls said "important decisions" on the cancellation of a Mistral helicopter carriers deal with Russia would be taken soon. Russian media had reported earlier on Friday that Paris and Moscow had reached a compensation deal for the cancellation of the delivery of two French-made Mistral helicopter carriers,.

  • LONDON, July 31- Oil prices fell on Friday as concern over global oversupply intensified after oil producers' cartel OPEC indicated there would be no cuts in production despite a huge global oversupply. "All commodities are down," said Abhishek Deshpande, oil analyst at Natixis. Benchmark North Sea Brent crude headed for its fifth consecutive weekly fall after...

  • Russia's central bank cuts key interest rate Friday, 31 Jul 2015 | 7:09 AM ET

    MOSCOW— The Russian central bank cut its key interest rate by 0.5 percentage points to 11 percent on Friday, bowing to the pressure of businesses to make lending more accessible. Moscow- based investment bank Sberbank CIB said in a note to investors that Friday's 0.5 percentage cut is not as big as anticipated, indicating that the central bank wants to "play it safe"...