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  • *Russia in dire need of cash as oil prices slide. MOSCOW, Feb 2- Russian oligarchs are the most likely potential buyers of the stakes in some of the country's largest companies that President Vladimir Putin wants to sell. The preliminary privatization plan, aimed at preventing the state budget deficit from ballooning, coincides with a second year of recession for...

  • *Could lead to joint venture to restore flights with Russia. CAIRO, Feb 2- An Egyptian airline plans to buy up to 10 Russian-made jets in a deal with Sukhoi Civil Aircraft that could also see the creation of a tour agency to restore flights between the two countries that were suspended after a plane crash last year. An Egyptian source said the deal included the...

  • *Russia in dire need of cash as oil prices slide. MOSCOW, Feb 2- Russian oligarchs are the most likely potential buyers of the stakes in some of the country's largest companies that President Vladimir Putin wants to sell. The preliminary privatisation plan, aimed at preventing the state budget deficit from ballooning, coincides with a second year of recession for...

  • Oil has fallen from $107 to around $30 in the past 19 months. Furious production by the U.S. and OPEC led to an oversupply. In a recent research note, Goldman Sachs predicted "the path to a rebalanced market will be protracted and arduous."

  • MOSCOW, Feb 2- As Russia wrestles with an economic crisis, more and more Porsches and Rolls-Royces are appearing on its roads. Sales of Porsche, Bentley, Rolls-Royce and Lexus cars all rose last year, even as Russia sank into recession. "It's bizarre," said IHS Automotive analyst Tim Urquhart.

  • Foreign Minister Sergey Lavrov told reporters in the United Arab Emirates on Tuesday that Moscow is "open for other forms of cooperation, if there is general interest in holding a meeting between OPEC members and producer countries." Russia is not a member of the Organization of the Petroleum Exporting Countries. Russia's Energy Minister Alexander Novak last...

  • NIZHNEVARTOVSK/ MOSCOW, Feb 2- Two senior Russian officials talked up potential cooperation with OPEC to prop up prices, but data showed oil production in Russia hit a post-Soviet high in January, suggesting the world's top producer was locked in a fierce struggle for market share. Russia has in the last week sent mixed signals about possible cooperation with...

  • PRAGUE— A close friend and key adviser of former Czech Prime Minister Mirek Topolanek has been convicted of bribery and sentenced to five years in prison. Prague's Municipal Court says Marek Dalik asked for 18 million euros in November 2007 at a meeting with managers from Austria's Steyr, a unit of U.S. General Dynamics Corp. In exchange he promised to use his...

  • MSCI's emerging market index fell 1.3 percent with bourses across much of Asia, Russia and eastern Europe chalking up losses as oil prices fell for a second straight day towards $33 a barrel. People were hoping that if the RBI wanted to be overly dovish, that would be a sign you would get a bit more support from central banks, "said Rich Kelly, head of global strategy at...

  • WASHINGTON— The Obama administration said Tuesday it will propose quadrupling what it spends on its troops and training in Europe, as part of the U.S. military's accelerating effort to deter Russia. President Barack Obama, in his final budget request to Congress, will ask for $3.4 billion— up from $789 million for the current budget year— for what the Pentagon...

  • PRAGUE— The Czechs, the biggest beer consumers in the world, could soon have a reason to drink even more after the finance minister proposed lowering tax on the drink by more than half. Finance Minister Andrej Babis is proposing to cut the value added tax on draft beer to 10 percent from 21 percent. Prime Minister Bohuslav Sobotka says it goes against his...

  • *Proposes 54.0 Sfr dividend per share vs 54.3 Sfr poll avg. ZURICH, Feb 2- Swiss flavours and fragrance maker Givaudan reported a 12.7 percent rise in net profit in 2015 as cost-cutting measures and lower taxes helped offset the impact of weaker sales. Net profit rose to 635 million Swiss francs from 563 million francs a year ago.

  • A new global oil deal could draw lessons from 1998 Tuesday, 2 Feb 2016 | 1:00 AM ET

    *OPEC rifts and pact with Russia under scrutiny. Now, with oil prices touching their lowest level since 2003, OPEC officials and deal brokers are looking back nearly two decades and asking whether a behind-the-scenes deal to curb oil output between OPEC and non-OPEC Russia could be struck. Some see OPEC rifts as insurmountable and Russia as a wild card that...

  • CHISINAU, Moldova— Prosecutors say a grenade was lobbed and exploded at the house of the outgoing governor of Moldova's central bank. Dragutanu resigned as governor of the National Bank of Moldova in September amid protests over more than $1 billion that went missing from three banks prior to elections in November 2014. Moldova has been in political turmoil...

  • MOSCOW— Russia's long-haul trucks are no longer allowed into Turkey, a Russian trucking union and lobby group said on Monday. The Association of International Truckers said in a statement on its website that Turkey refused to renew an agreement allowing Russian truckers to bring goods into Turkey. While Turkey initially benefited from a slight uptick in...

  • LONDON/ DUBAI, Feb 1- OPEC and non- OPEC countries have not yet agreed to hold a meeting to discuss action to support oil prices, two OPEC delegates said on Monday, nearly a week after Russian officials said Moscow should talk to OPEC. OPEC delegates said last week a gathering of OPEC and non- OPEC oil officials could take place in February or March, perhaps at an expert...

  • MOSCOW, Feb 1- A Moscow court on Monday rejected a claim of wrongful dismissal brought by an ex-Deutsche Bank trader who lost his job amid an investigation by European and U.S. regulators into suspicious international share trades by the bank. A source familiar with the matter told Reuters in December that Deutsche Bank had found a total of $10 billion of...

  • LONDON, Feb 1- The Russian rouble fell on Monday, tracking falling oil prices, while a raft of poor economic data pressured other emerging markets across the developing world, forcing some authorities to support their currencies. China, Russia, Turkey and Poland all posted poor manufacturing data, muting some of the boost that emerging markets enjoyed last week...

  • BUDAPEST, Feb 1- The global economy remains on a moderate recovery track but China's slowdown is of particular concern as it raises the risk of crisis returning to developed nations, European Central Bank policymaker Ewald Nowotny said on Monday. China's growth, though seemingly still rapid, is "meagre" compared to its social and demographic challenges, and its...

  • *Iran won't join immediate OPEC production cut- report. NEW YORK, Jan 29- Oil prices trimmed early gains in volatile trade on Friday after news that Iran had dashed the possibility of participating in a possible deal between OPEC and other producing countries to trim output. But oil retraced early gains, with both contracts briefly turning negative, after the Wall...