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Eastern Europe

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  • NEW YORK, April 21- The European Union's antitrust probe into Google sparked a big rally in Russian search engine Yandex NV last week, even though the "Russian Google" still faces significant challenges, competitive and otherwise. But it has lost market share as Russian consumers have adopted Android-based cell phones that come pre-loaded with Google products...

  • Kazakh leader to extend long rule, promises stability Tuesday, 21 Apr 2015 | 9:57 AM ET

    ALMATY, April 21- President Nursultan Nazarbayev will extend his nearly 26- year rule of Kazakhstan in an election on Sunday which investors hope will maintain stability in the Central Asian state despite criticism of his rights record. The 74- year-old former steelworker has held power since 1989 when the oil-producing nation of 17 million stretching from...

  • *Gazeta Wyborcza daily reports Raytheon won $5 bln tender. WARSAW, April 21- Poland looks set to award a total of $8 billion in military contracts to Raytheon of the United States and Europe's Airbus, local media and industry sources said on Tuesday, striking a transatlantic balance as it faces rising tensions with Russia. And in what seems likely to be its biggest...

  • LONDON, April 20- Britain on Monday ordered Russian billionaire Mikhail Fridman to sell his newly acquired North Sea gas fields within six months, ratcheting up the pressure on one of Russia's most influential businessmen just two weeks before the May 7 national election. Upping the ante in a standoff that some Russian businessmen say shows Russian capital is...

  • Armed with new law, Ukraine targets its shadowy banks Monday, 20 Apr 2015 | 10:07 AM ET

    KIEV, April 20- For the first time in its post-Soviet history, Ukraine now has a law to prosecute bank owners who use their lenders as little more than personal piggy banks. Under pressure from the IMF, which has agreed a $17.5 billion bailout for Ukraine in exchange for reforms, Kiev plans to use the new banking law to start cleaning up an over-populated and corrupt...

  • April 20- After the surge in the Swiss franc pushed up the cost of mortgages denominated in the currency, countries in eastern Europe, where foreign currency loans are common, implemented measures to help struggling borrowers. These include lenders cutting the price they charge clients for selling them Swiss francs to make their repayments, lowering mortgage...

  • *Loans become political issue in Poland, Croatia. WARSAW/ ZAGREB, April 20- When the Swiss franc surged at the start of the year, there were dire predictions of a wave of debt defaults by the hundreds of thousands of borrowers in eastern Europe who had taken out mortgages in the currency. The pressure is greatest in Croatia and Poland, the two countries with the biggest...

  • MOSCOW— Russia's leading environmentalist, whose fierce campaigning once threatened the interests of some of the country's richest men, has moved to Estonia to ensure she is not separated from her children. "It is difficult to work in Russia because they can come for you at any moment like they blackmailed me once with my children," she told The Associated Press on...

  • Vacationers to Europe will fare better with the average ticket down 3 percent to $1,619, about $50 less than last summer. Flights to Hawaii, Florida and New Orleans are cheaper, but travelers heading to New York, Denver and San Francisco can expect to pay more. Overall fares are down but it will cost more this summer to fly to cities like Amsterdam; London; Budapest,...

  • MOSCOW/ BERLIN, April 18- Russia denied on Saturday a German media report suggesting that it could sign a gas pipeline deal with Greece as early as Tuesday which could bring up to five billion euros into Athens' depleted state coffers. During his visit to Moscow, Tsipras had expressed interest in participating in a pipeline that would bring Russian gas to Europe...

  • WASHINGTON, April 18- German Finance Minister Wolfgang Schaeuble said on Saturday he was happy over a report that Greece was poised to sign a gas deal with Russia, though he added it would not solve the cash-strapped euro zone nation's economic problems. "I am happy about that for Greece," Schaeuble told journalists on the sidelines of the spring meetings of the...

  • Greece poised to sign gas deal with Russia - Spiegel Saturday, 18 Apr 2015 | 7:52 AM ET

    BERLIN, April 18- Greece is poised to sign a gas deal with Russia as early as Tuesday which could bring 3- 5 billion euros into depleted government coffers, German magazine Der Spiegel reported, citing a senior figure in the ruling Syriza party. During a visit to Moscow earlier this month, Greek Prime Minister Alexis Tsipras expressed interest in participating in a...

  • OBAMA SAYS EUROPEAN COUNCIL NEEDS TO KEEP CURRENT SANCTIONS AGAINST RUSSIA IN PLACE UNTIL MINSK AGREEMENT HAS BEEN FULLY IMPLEMENTED.

  • LONDON, April 17- The prospect of deeper interest rate cuts took Russia's rouble more than 2 percent lower on Friday, knocking it off 4-1/ 2- month highs against the dollar, while Russian equity markets also slipped. "The rouble has appreciated so much recently that from the point of view of the central bank and government it makes sense to try and cap it so as not to...

  • LONDON, April 17- Nestle became the third European food company to report better-than-expected first-quarter sales on Friday, adding to evidence that the sector is moving past the troubles of 2014.. Last year, makers of consumer packaged goods were hammered by slowed economies, including in once-hot markets such as Brazil and China. "Another European food Q1...

  • MOSCOW, April 17- Russian railcar manufacturer United Wagon Company plans to float at least 10 percent of its shares on the Moscow exchange, it said on Friday, representing Russia's first initial public offering in more than a year. Russia's most recent IPO was by budget hypermarket chain Lenta in February last year, weeks before Moscow annexed the Crimea region...

  • BEIJING, April 17- Chinese automaker Geely is set to start producing a small crossover utility vehicle late next year- the first car to be built using a common platform jointly developed with Volvo. Geely's cooperation with Volvo, a storied brand best known for its focus on safety, is seen as a possible model for Chinese companies trying to digest and manage...

  • April 16- Philip Morris International Inc's shares are on track for their best day in over six years after the maker of Marlboro cigarettes raised its full-year profit forecast as it sold more cigarettes at higher prices, especially in Europe. Philip Morris's shares rose as much as 8.3 percent on Thursday, their biggest intraday percentage gain since November...

  • LONDON, April 16- Britain's Serious Fraud Office charged a UK subsidiary of Paris- listed French engineering group Alstom with four further criminal offences of corruption and conspiracy to corrupt in a drawn-out investigation that has swung to Hungary. The SFO, which has already charged two UK- based Alstom units and four former employees with alleged...

  • MOSCOW, April 16- President Vladimir Putin tried to reassure Russians over the ailing economy and said Washington wanted "vassals" rather than allies in his annual phone-in on Thursday, but offered no new financial remedies and gave no ground over Ukraine. For nearly four hours, the Russian leader fielded mostly tame questions from across the country on...