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Europe News Eastern Europe

  • Oct 02-=============================================================================== Summary analysis-- TENEX-Service--------------------------------- 02- Oct-2012=============================================================================== CREDIT RATING: BBB-/Stable/A-3 Country: Russia Primary SIC: Misc. business credit institutions=============================================================================== Credit Rating History: Local currency Foreign currency 20- Jan-2012 BBB-/A-3 BBB-/A-3 14- Jul-2011 BB+/ B BB+/ B=============================================================================== Rationale.

  • WARSAW, Oct 2- Environmental group ClientEarth, which has been opposing the construction of a 11.6 billion zloty coal-fired power plant by Polish utility PGE, may again move to block the project, a ClientEarth representative told Reuters.

  • At the same time, the agency has downgraded Denizbank's Long-term local currency IDR to' BBB-' from' BBB'. The rating actions follow the announcement on 28 September 2012 by Belgian-based bank Dexia that it has completed the sale of a 99.85% stake in Denizbank to Russia's Sberbank.

  • MEXICO CITY-- The appearance of a life-size statue of Azerbaijan's "founder of the nation" on Mexico City's elegant Reforma Avenue, not far from Mahatma Gandhi, Abraham Lincoln and Mexico's national heroes, is raising eyebrows and protests.

  • SOFIA, Oct 2- The International Monetary Fund praised Bulgaria's plans to keep its budget deficit at 1.3 percent of gross domestic product next year and urged the government to resist spending pressure in an election year to protect fiscal stability.

  • MOSCOW, Oct 2- Russia's economy should sustain its current 4 percent growth rate over the next three years, President Vladimir Putin said on Tuesday, playing up its relatively strong performance as the global economy slows.

  • KIEV, Oct 2- Ukraine will buy two offshore platforms to boost domestic natural gas output, state oil and gas firm Naftogaz said on Tuesday, as the country seeks to ease its dependence on imports from Russia.

  • MOSCOW, Oct 2- INTER RAO Lietuva, a Baltic electricity trader 51 percent owned by Russia's InterRAO, plans to hold an initial public offering in Warsaw at the end of 2012 or the beginning of 2013, an InterRAO official said.

  • LISBON, Oct 2- A 500 million euros cash call by Portugal's Millennium BCP, was fully subscribed by private investors, meaning the state will not become a shareholder, the bank's chief executive said.

  • *Commission cannot force member states to apply recommendations. BRUSSELS, Oct 2- Europe's nuclear reactor fleet needs investment of 10 billion to 25 billion euros, a draft Commission report said, following a safety review designed to ensure there is never a repeat of the Fukushima nuclear disaster.

  • VIENNA, Oct 2- Austrian property group Immofinanz. Immofinanz said it planned to start construction this month with the opening scheduled for 2014. It said it was already in intensive negotiations with international and local retailers for occupancy of the centre's 150 retail units and food outlets.

  • SINGAPORE, Oct 2- The Asian naphtha price extended losses on Tuesday to reach a three-session low of $966 while margins snapped four sessions of gains and fell to $124.95 a tonne as squeezed petrochemical margins overshadowed the firm gasoline prices in the West.

  • *Talanx CEO says no big takeovers planned in next 2 years. FRANKFURT, Oct 2- Shares in Talanx, Germany's third-biggest insurer, inched higher on their Frankfurt stock market debut on Tuesday, vindicating the company's decision to go ahead with the share sale after dithering last month over the state of Europe's fragile IPO market.

  • BELGRADE, Oct 2- Workers at a Serbian shipping company on Tuesday ended their blockade of the Danube river, one of Europe's main waterways, which started last week in protest over wage arrears.

  • LONDON, Oct 2- The Republic of Poland, rated A2/A-/A-, will price a new 12- year euro benchmark well inside where it first started to sound out investors after demand reached over EUR3.3bn.

  • STOCKHOLM, Oct 2- Syria's civil war has made Friday afternoons a busy time at Bambuser, a tiny Swedish IT startup in an old bicycle factory which streams live video from the latest uprisings.

  • WARSAW, Oct 2- Poland will oblige natural gas monopoly PGNiG to offer 30 percent of its sales on the country's fledgling gas exchange to inspire the liberalisation of central and eastern Europe's largest gas market, a ministry official said on Tuesday.

  • MOSCOW, Oct 2- Russian mid-sized oil producer Tatneft said on Tuesday its first-half net profit declined 17 percent, year-on-year, to 32.9 billion roubles on the back of higher taxes.

  • MOSCOW, Oct 2- Russia's economy should sustain its current 4 percent growth rate over the next three years, President Vladimir Putin said on Tuesday. Although growth would be slower than before the 2008-09 crisis it would be "more balanced and of higher quality", Putin told an investment conference hosted by VTB Capital.

  • BUCHAREST, Romania-- Hundreds of workers have protested at a Romanian chemical plant after the government scrapped the sale of the debt-ridden company, saying the prospective buyer had failed to prove he could pay.