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Eastern Europe

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  • MOSCOW— Russian news reports say that a manager at the Central Bank's branch in a far eastern city has killed three colleagues and then himself after losing his job. The man had worked as a deputy chief of the Central Bank's office in the city of Blagoveshchensk near the border with China before he was fired, the reports said. The Central Bank confirmed the four...

  • *Russia added 20.73 tonnes in December-IMF. *Gold price rose in December for first time in five months. SINGAPORE, Jan 27- Russia extended its buying spree of gold to a ninth straight month, and the price of gold rose for the first time in five months, data from the International Monetary Fund showed on Tuesday.

  • MILAN, Jan 27- Embattled Italian oil services group Saipem is in pole position to win a contract worth up to $2 billion to replace pipes at the Kashagan oilfield in Kazakhstan, two sources with knowledge of the matter said on Tuesday. Saipem has had 10 billion euros wiped from its value over the past two years, hit by two profit warnings, a corruption investigation in...

  • BUCHAREST, Romania— Two Romanian former ministers have been jailed for commercial espionage and treason in the sale of strategic state companies. The High Court of Cassation and Justice on Tuesday handed Former Economy Minister Codrut Seres a sentence of four years and eight months for treason and transmitting state secrets; and Zsolt Nagy, former...

  • MOSCOW, Jan 27- Russia's Gazprom plans to supply the first gas via a new route to Turkey in December 2016, Chief Executive Alexei Miller said in a statement on Tuesday. Gazprom said last year it would build a new pipeline to Turkey with a capacity of 63 billion cubic metres a year to bypass Ukraine. Miller added Russia and Turkey would sign an agreement on building the...

  • LONDON, Jan 27- Russia's rouble climbed on Tuesday, recovering some of its poise following a 6 percent drop the previous day after ratings agency Standard& Poor's cut the country's rating to junk, though Moscow stocks traded lower. Russia's stock market was closed when S&P announced on Monday it was cutting Russia's rating from BBB- to BB+, citing a weakened...

  • Although the rouble fell sharply on Monday and bond yields rose, analysts said that the immediate implications of the downgrade were limited, as the move was largely priced in and other major agencies still rate Russia above junk. Russian assets had already fallen sharply before the decision because of renewed fighting in Ukraine and the threat of fresh...

  • BRUSSELS— European Union leaders are threatening fresh sanctions against Russia because of what it sees as "growing support" of Moscow for separatists in eastern Ukraine during intensified fighting over the past days. The European Union has imposed a series of economic and political sanctions on Moscow and officials linked with last year's annexation of...

  • What the credit downgrade to 'junk' means for Russia Tuesday, 27 Jan 2015 | 3:45 AM ET

    Standard& Poor's on Monday cut Russia's rating to BB+, a non-investment grade the country last held in 2004, when it was still recovering from a painful financial collapse in the 1990 s. It noted Russia's financial system is weakening, and that the central bank will increasingly have trouble supporting it. Russia's economy is expected to contract by 4 to 5 percent...

  • RUSSIA AND IRAN TO CREATE MUTUAL ACCOUNT FOR BILATERAL PAYMENTS IN NATIONAL CURRENCIES- RIA CITES IRANIAN AMBASSADOR TO MOSCOW.

  • *Russia added 20.73 tonnes in December-IMF. *Gold price rose in December for first time in five months. SINGAPORE, Jan 27- The Netherlands raised its gold holdings for the first time in 16 years in December, while Russia extended its buying spree of the precious metal to a ninth straight month, data from the International Monetary Fund showed on Tuesday.

  • NEW YORK, Jan 26- The euro rebounded on Monday as investors took advantage of steep losses sustained during two days of dramatic selling, with the final push down to a fresh 11- year low coming after elections in Greece put an anti-austerity government in power. Greece elected, as expected, left-wing leader Alexis Tsipras of the anti-bailout Syriza party.

  • NEW YORK— Three Russian citizens were charged Monday in connection with a Cold War-style Russian spy ring that spoke in code, passed messages concealed in bags and magazines, and tried to recruit people with ties to an unnamed New York City university, authorities said. The defendants were directed by Russian authorities to gather sensitive economic...

  • *S&P cuts Russia's sovereign credit rating. MOSCOW, Jan 26- Ratings agency S&P cut Russia's sovereign credit rating to below investment grade, or "junk" status, on Monday for the first time in a decade. S&P said in a statement it had cut the rating from BBB- to BB+, with a negative outlook, and that Russia's economic growth prospects- hit by low oil prices and Western...

  • MOSCOW, Jan 26- The rouble and Russian stocks fell sharply on Monday, following a return to full-scale warfare in eastern Ukraine and threats of further Western sanctions against Russia. Washington and Brussels are both considering new sanctions against Russia after accusing it of openly supporting the latest rebel advance in Ukraine.

  • MOSCOW— Russian security forces raided independent Crimean television station ATR on Monday, seizing equipment and telling employees they were looking for archival footage of an anti- Russia protest last year, station officials said. In an emotional video posted on YouTube, deputy director Liliya Budzhurova said that armed men from Russia's Investigative...

  • Tumbling oil prices and Western sanctions over Russia's role in Ukraine have pushed the rouble to record lows and fuelled price rises. "Unlike during the 2008-2009 crisis, now there is a significant decline of real disposable incomes in Russia so food budgets will most likely fall," said Ekaterina Lipatova, an analyst at Moody's Investors Service.

  • MOSCOW, Jan 26- Russian officials will have to revise the spending priorities of one of Russia's two "rainy day" funds, daily newspaper Vedomosti reported on Monday, as officials scramble to find ways to fight a deepening financial crisis. Citing sources in Russia's financial and economic sectors, Vedomosti said officials needed to find ways of funding its "...

  • To avoid being called a party to the conflict, as Ukraine and the West see it, Russia is pushing the Ukrainian government to speak directly to the rebels. "is not even an army, it's a foreign legion, in this case a NATO foreign legion," Putin said, adding that it's serving the goal of "the geopolitical containment of Russia, which absolutely don't coincide with the...

  • MOSCOW, Jan 26- The Russian rouble fell sharply on opening on Monday, following a weekend of violence in eastern Ukraine and threats of further Western sanctions against Russia. President Vladimir Putin blamed "criminal orders" by Ukrainian leaders on Friday for a surge in fighting in east Ukraine, and Russian-backed separatists struck a bellicose tone in...