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Eastern Europe

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  • MOSCOW, Sept 16- Russia's ban on most Western food, the assimilation of the disputed Crimea region and people fleeing conflict in Ukraine are set to boost Russian grain demand this year, SovEcon, one of the country's leading agriculture consultancies, said.

  • MOSCOW, Sept 16- The Russian central bank sees crude oil prices returning to above $100 per barrel in coming quarters and staying above that mark in 2016-2017, according to the bank's quarterly monetary policy document published on Tuesday.

  • *The pipelines key for boosting Russian oil exports to Asia. MOSCOW, Sept 16- Western sanctions on Russia over Ukraine are likely to delay the launch of new oil pipelines in Siberia, Russian oil pipeline monopoly Transneft said on Tuesday, potentially derailing plans to boost oil exports to Asia in coming years.

  • Oligarch buys Russia's most popular social media Tuesday, 16 Sep 2014 | 8:12 AM ET

    London- listed Mail.Ru Group said in a statement Tuesday that it now owns the whole of VKontakte following its purchase of a 48 percent stake from investment fund United Capital Partners. Mail.Ru first invested in VKontakte in 2007 and since then has spent over $2.1 billion accumulating stock.

  • MOSCOW, Sept 16- Russia risks slipping into recession because the government is not investing enough in the economy to weather Western sanctions, former finance minister Alexei Kudrin said on Tuesday, criticizing the strategy so far.

  • MOSCOW, Sept 16- Russian oil pipeline monopoly Transneft said on Tuesday Western sanctions on Russia over Ukraine may delay the launch of new oil pipelines in Siberia.

  • *Opel to speed up localisation of suppliers. BERLIN, Sept 16- U.S. carmaker General Motors is cutting production and shedding around 500 jobs at its Opel division in Russia, hit by a plunge in local demand due to a slowing economy and Western sanctions.

  • DUBAI, Sept 16- The opening of Saudi Arabia's stock market to direct foreign investment early next year is set to coincide with a pick-up in earnings growth in the kingdom, which has lagged the region in the past few years.

  • Russian ruble drops to historic low amid sanctions Tuesday, 16 Sep 2014 | 3:55 AM ET

    The United States and the European Union last week imposed a new round of sanctions against Russia for its actions in Ukraine that consisted in, among other things, blocking off Western financial markets to key Russian companies. The Russian currency fell more than 1 percent to 38.80 rubles against the U.S. dollar by noon Moscow time Tuesday.

  • MOSCOW, Sept 16- Russia's economy could contract 3-4 percent if western nations tighten sanctions over Moscow's role in the Ukraine crisis to make them similar to those imposed on Iran, former finance minister Alexei Kudrin said on Tuesday. Western sanctions already bar some of Russia's largest companies and banks from raising financing on western markets.

  • MOSCOW, Sept 16- Western sanctions on Russian companies, officials and banks are counterproductive and do not solve political problems, Deputy Prime Minister Arkady Dvorkovich said on Tuesday. "When it comes to sanctions we consider them meaningless, counterproductive... measures that do not solve political problems," he told a foreign business conference.

  • NYMEX-U.S. oil retreats on softer economic data Monday, 15 Sep 2014 | 8:29 PM ET

    It settled 65 cents a barrel higher at $92.92 on the previous session, recovering by more than $2 a barrel after falling earlier in the session towards 16- month lows. *November Brent gained 20 cents a barrel to $98.08 after it ended 8 cents lower at $97.88.

  • *Russia to meet with OPEC as low prices pressure budget. "The Chinese data was sufficiently negative to create real worry again about the outlook for demand there and globally," said John Kilduff, a partner at Again Capital LLC in New York.

  • Russia to meet with OPEC as low prices pressure budget. "The Chinese data was sufficiently negative to create real worry again about the outlook for demand there and globally," said John Kilduff, a partner at Again Capital LLC in New York.

  • *Russia to meet with OPEC as low prices pressure budget. NEW YORK, Sept 15- Brent and U.S. crude futures fell in choppy trading on Monday, with weak Chinese economic data pushing the expiring October Brent contract to a two-year low and news that Russia's energy minister would meet OPEC officials cushioning the drop.

  • MOSCOW, Sept 15- Russia's rouble fell to a record low against the dollar on Monday, as Russian companies made payments on foreign debt, oil prices dropped and markets came to expect the central bank would not intervene to defend the currency.

  • *Russia has so far ruled out joint action with OPEC. MOSCOW, Sept 15- Russian Energy Minister Alexander Novak will meet OPEC officials on Tuesday in Vienna, his spokeswoman said, as oil's price fall piled pressure on Moscow's budget. So far, Russia, the world's top producer of conventional oil, has ruled out coordinated action with OPEC to halt the price decline.

  • *SABMiller gains on report InBev seeking funding for takeover. A recovery in mergers and acquisitions has helped drive stock markets to multi-year highs, and sentiment was helped by a report that the world's No. 1 brewer, Anheuser-Busch InBev, was working on a bid for rival SABMiller.

  • Air France strike amid Europe's low-cost shakeup Monday, 15 Sep 2014 | 6:14 AM ET

    Air France-KLM, which is the national carrier for France and the Netherlands, said it can ensure just 48 percent of flights Monday, 40 percent on Tuesday and perhaps less later in the week as unions protest against its savings program. Like Lufthansa, Alitalia, SAS and other national airlines in Europe, Air France-KLM is focusing on cost cuts to remain competitive.

  • AMSTERDAM, Sept 15- Beneath the low beams of a converted warehouse in Amsterdam lives a company with many of the attributes of a Silicon Valley startup, except that at less than a year old it has zero venture capital and says it is already making enough money to sustain itself.