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  • MOSCOW, March 26- Russia's top lender Sberbank said its profit fell 20 percent last year, hit by a steep rise in its loan-loss provisions due to an economic crisis. The bank's funding costs also jumped due to Western sanctions imposed on Russia- which limit its access to international capital markets- and central bank rate rises, while its profitability slipped...

  • EU, Ukraine to hold summit in Kiev on April 27 Wednesday, 25 Mar 2015 | 12:13 PM ET

    BRUSSELS/ KIEV, March 25- EU leaders will hold a summit with Ukrainian President Petro Poroshenko next month in Kiev, officials said on Wednesday, and are likely to discuss the status of the Minsk ceasefire agreement in eastern Ukraine. The summit will be a chance for Poroshenko, who attended an EU summit in Brussels in February, to brief leaders on whether the...

  • MILAN, March 25- Italian tyre maker Pirelli, which is being bought by China National Chemical Corp, does not plan to pay a special dividend to its shareholders as part of the buyout plan, two sources with direct knowledge of the matter said. ChemChina is to buy into the world's fifth-largest tyre maker in a 7.3 billion-euro deal, agreed with Pirelli's biggest...

  • How one EM company bet on the falling euro Wednesday, 25 Mar 2015 | 9:13 AM ET
    The U.S. dollar and Euro currencies

    The single currency’s slump may weigh on euro zone policymakers’ minds, but the head of finance at one major EM firm said some companies could use it to their benefit.

  • MOSCOW— As the economic crisis sweeps through Russia, a dangerous trend is emerging in this heavy-drinking country: the rise in consumption of potentially lethal moonshine, medical alcohol or even cleaning products. Layoffs, wage cuts and price increases are combining to worsen the problem of alcoholism, which has long been a major public health issue, by...

  • *Immofinanz plans to make offer for stake in CA Immo. VIENNA, March 25- A battle to create a central and eastern European property powerhouse heated up on Wednesday as Austria's CA Immo and Russian partner O1 Group launched their 422.5 million euro bid for a bigger stake in Austrian peer Immofinanz. CA Immo and O1 Group, which already own around 3.3 percent of...

  • EXCLUSIVE-DRUG THAT CAUSED "ELEPHANT MAN" SIDE EFFECT MAKES. LONDON, March 24- An experimental drug that caused appalling side effects in a clinical trial nine years ago is back in tests for rheumatoid arthritis and is showing promise when given at a fraction of the original dose. It is a remarkable turnaround from March 2006, when six healthy volunteers given the...

  • LONDON, March 24- Ukraine's debt burden cannot be restructured by just extending the maturity of its bonds, and creditors are unlikely to benefit if they "hold out" to maximize payments, Finance Minister Natalia Yaresko said on Tuesday. After a year of war and political upheaval that has seen its currency plummet and sent its economy into a tailspin, Ukraine agreed...

  • No signs Russia might leave WTO, director general says Tuesday, 24 Mar 2015 | 7:41 AM ET

    RIGA, March 24- Russia shows no signs of wanting to leave the World Trade Organization, WTO chief Roberto Azevedo said on Tuesday, despite tensions with the West over the Ukraine crisis and disputes with other member states. "Russia has been a party to disputes in the WTO and I think every single member of the WTO including Russia knew that would be the case."

  • Russia to resume space tourism in 2018 Tuesday, 24 Mar 2015 | 5:32 AM ET

    MOSCOW— Russia officials say they will resume space tourism in 2018 after years of sending into space only professional cosmonauts and astronauts. Russia had sent seven paying guests to the International Space Station since 2001 before curtailing the program in 2009. Sending a tourist has been all but impossible since 2011 when the United States shut down...

  • This expert is buying into Russia, Austria   Monday, 23 Mar 2015 | 11:14 PM ET
    This expert is buying into Russia, Austria

    Nicholas Ferres, investment director of Global Asset Allocation at Eastspring Investments, explains why he likes the metals and mining sector in Austria and Russia.

  • Rasmussen: Concerned about Russia, ISIS   Monday, 23 Mar 2015 | 9:37 PM ET
    Nato flag

    Anders Fogh Rasmussen, former secretary-general at NATO, discusses the threat of ongoing tensions between Ukraine and Russia, as well as the rise of the Islamic state.

  • Putin's role in Iran's nuclear ambitions   Monday, 23 Mar 2015 | 3:16 PM ET
    Putin's role in Iran's nuclear ambitions

    Bill Browder, Hermitage Capital CEO and Author of "Red Notice: A True Story of High Finance, Murder and One Man's Fight for Justice." discusses Russia's involvement with talks in Iran.

  • US drillers scrambling to thwart OPEC threat Monday, 23 Mar 2015 | 2:01 PM ET
    Floor hands work on an oil rig in the Bakken shale formation outside Watford City, North Dakota.

    Companies are working to keep U.S. oil competitive with much lower-cost oil flowing out of the Middle East, Russia and elsewhere.

  • MOSCOW— A Russian union official said Monday that 15 members have been briefly detained by police as tensions rise in disputes involving Volkswagen and Peugeot factories. Police were quoted by Russia's Interfax agency as saying that 12 activists were held as part of an investigation into a theft near the union office. The union has protested against proposed...

  • Putin sacks 2 Kremlin officials amid talk of feuding Monday, 23 Mar 2015 | 11:25 AM ET

    President Vladimir Putin dismissed two senior officials on Monday in a surprise move that followed rumors of feuding at the heart of the Kremlin.

  • MOSCOW, March 23- Lower oil prices will have a long-lasting impact on Russia, Central Bank First Deputy Governor Ksenia Yudayeva said on Monday. The Russian economy is forecast this year to slip into recession for the first time since the aftermath of the global financial crisis in 2009, hit by declining crude prices and sanctions imposed on Moscow over its role...

  • Car sales in Russia dropped sharply last year as the economy was hit by a fall in oil prices and Western sanctions over Ukraine. General Motors said last week it would shut its Russian factory and wind down the Opel brand in the country, while Nissan Motor Co suspended Russia production for 16 days this month. The company said its car plant in Kaluga, south of the...

  • MOSCOW, March 23- Russia expects Ukraine to repay a $3 billion Eurobond in full and on time, Deputy Finance Minister Sergei Storchak said on Monday. Storchak also said that Moscow would not exercise a covenant of the Eurobond that stipulates that Russia has the right to ask for early repayment if Ukraine's overall debt exceeds 60 percent of nominal gross...

  • MOSCOW, March 23- German car producer Volkswagen said on Monday it would reduce shifts and lay off at least 150 workers at its Russian car plant in Kaluga, south of the capital Moscow. The carmaker said the Kaluga plant would work four days a week from April to July this year, while in May the number of shifts would decrease to two from three. It added that the production...