Europe News Eastern Europe

  • SATURDAY, AUGUST 27 SEOUL- South Korea Finance Minister Yoo Il-ho meets his Japanese counterpart Taro Aso- 0730 GMT. MONDAY, AUGUST 29 JOHANNESBURG- South African Reserve Bank Deputy Governor Daniel Mminele and Bundesbank executive board member Andreas Dombret will brief the media on the bilateral cooperation between the central banks of South Africa and...

  • PARIS, Aug 26- Italian luxury goods maker Prada predicted a return to sales and profit growth next year, partly helped by improved sales trends in China, after posting a 25 percent drop in first-half underlying earnings and net profit. The Prada group, which makes the bulk of its sales from the Prada brand, but also owns the Miu Miu, Church's and Car Shoe labels, said...

  • BUDAPEST, Aug 26- The zloty and Polish stocks briefly touched 4- week lows on Friday after Moody's issued a warning over Warsaw's tension with the European Commission, preparing investors for a possible rating downgrade. Central European assets were mixed ahead of a speech by Federal Reserve Chair Janet Yellen later on Friday, in which she may flag upcoming...

  • PARIS, Aug 26- Italian luxury goods maker Prada predicted a return to sales and profit growth next year after its first-half underlying earnings and net profit dropped by 25 percent, partly dragged down by weak demand in China and Italy. The group, which has been hit hard by the global luxury spending slump, said sales suffered in China and particularly in its home...

  • The group, which has been hit hard by the global luxury spending slump, said sales suffered in China and particularly in its home market Italy where net retail revenue dived 21 percent in the six months to June 30. Earnings before interest, tax, depreciation and amortization reached 330 million euros in the first half, down from 440 million euros in the year-ago...

  • WARSAW, Poland— Hungary's prime minister urged the European Union on Friday to make security a priority and build an army of its own. Prime Minister Viktor Orban spoke in Warsaw before heading into talks on EU's future with German Chancellor Angela Merkel and leaders of three other central European nations. Merkel's meeting in Warsaw with the leaders of Poland,...

  • BUDAPEST/ WARSAW, Aug 26- The zloty and Polish stocks touched 4- week lows on Friday after Moody's issued a warning over Warsaw's tension with the European Commission, preparing investors for a possible rating downgrade. Regional stock indices mostly dropped, led by half percent loss in Budapest. Oil industry stocks fell, with Slovenia's Petrol shedding 0.4...

  • Fed chair Janet Yellen, while South Africa's rand and bonds remained under pressure after a tumultuous week. "People are booking profits after a strong run and South Africa has given them an excuse to do that." The South Africa rand firmed 0.2 percent but was on track to end the week 5 percent down and sovereign dollar bonds continued to sell off, with the 2025 issue...

  • SEATTLE— The son of a Russian lawmaker has been convicted of hacking into U.S. businesses to steal credit card information and orchestrating an international online theft scheme that netted him millions of dollars. He could face up to 40 years in prison when he's sentenced Dec. 2, and he still faces similar charges in federal courts in Nevada and Georgia, his...

  • SATURDAY, AUGUST 27 SEOUL- South Korea finance minister Yoo Il-ho meets his Japanese counterpart Taro Aso- 0730 GMT. BISHKEK- National Bank of the Kyrgyz Republic interest rate decision. BRASILIA- Central Bank of Brazil holds Monetary Policy Committee Meeting.

  • Aug 25- The son of a Russian lawmaker was convicted on Thursday on U.S. charges that he engaged in a scheme to hack into U.S. businesses in order to steal and sell credit card numbers, costing financial institutions more than $169 million. Roman Seleznev, also known as "Track2," was found guilty by a federal jury in Seattle on 38 of 40 counts including wire fraud and...

  • Vice President Joe Biden has cautioned Europe against a new natural gas pipeline planned to stretch from Russia to Germany, saying it "looks like a fairly bad deal" for Europe because it further increases its energy dependency on Moscow. Biden said Thursday that to lock Europe "into greater reliance on Russia at this moment... will fundamentally destabilize...

  • *Russia sends wheat to markets dominated by U.S., EU. *Russia opens way for wheat exports to Indonesia. MOSCOW, Aug 25- Russia is muscling in on the markets of its European and North American competitors as it overtakes the European Union to become the world's biggest wheat exporter for the first time.

  • BUDAPEST, Aug 25- Hungary sold 12- month bills at higher yields at an auction on Thursday, bucking a falling trend of the past few weeks, after a central bank deposit tender had drained banking sector liquidity. The National Bank of Hungary, which kept its benchmark base rate on hold at 0.9 percent on Tuesday, wants to squeeze out liquidity in the hope that more money...

  • BUCHAREST, Romania— Romania's health ministry says the agriculture ministers of Romania and Kuwait are receiving hospital treatment for minor injuries after being involved in a car crash. The ministry said Agriculture Minister Achim Irimescu and Kuwaiti counterpart Ali Saleh Al-Omair sustained head injuries Thursday morning in southern Romania after...

  • CHISINAU, Moldova— Romania's prime minister says his country has paid 60 million euros to Moldova, the first part of a larger loan, and urged the government to continue making reforms. In July, the International Monetary Fund reached an agreement with Moldova for a $179 million, 3- year loan arrangement conditional on the government carrying out reforms.

  • SEATTLE— A jury is weighing whether the son of a Russian lawmaker hacked into U.S. businesses to steal credit card information and made millions selling the data to criminals. Attorney Norman Barbosa said Wednesday of Roman Seleznev at the close of the eight-day trial. The jury began deliberating following closing arguments just after noon and was released...

  • CHISINAU- National Bank of Moldova interest rate decision. NAIROBI- African Development Bank President Akinwumi Adesina holds a press conference to highlight Africa's economic growth progress and list structural challenges that hinder the continent from achieving rapid, inclusive and sustainable growth- 1330 GMT. SATURDAY, AUGUST 27 SEOUL- South Korea...

  • MOSCOW— A man who claimed to have a bomb seized a bank in the center of Moscow and took four people hostage Wednesday evening, but he surrendered peacefully a few hours later, police said. Russian news organizations identified the man as a 55- year-old bankrupt businessman who in recent years had made numerous appeals to the government to do more to help those in...

  • TALLINN, Estonia— Germany's leader has urged Britain to file a formal request to leave the European Union soon, even though the member states are prepared to give the U.K. time to decide its future ties with the bloc. Chancellor Angela Merkel says the EU is otherwise busy and "can bide the time" that Britain needs "to decide for its part what relationship it wants to...