Russia faces a “full-blown economic crisis” next year that will trigger defaults, a respected ex-finance minister has warned. The FT reports.» Read More
SOFIA, Oct 3- Bulgaria aims to keep its budget deficit unchanged at 1.3 percent of gross domestic product next year thanks to expected 2013 economic growth of 1.9 percent, a draft budget showed on Wednesday.
The volatile Central Asian state has seen several assaults on the government since Kyrgyzstan's independence from the Soviet Union in 1991. The bloodiest protests, in March 2005 and April 2010, toppled two presidents, who then fled abroad.
ISTANBUL, Oct 3- Turkey's Treasury is taking a controlling stake in the country's seventh largest bank by assets, Vakifbank, which is expected to lead to a possible secondary offering at a later stage, its CEO said on Wednesday. Russia's Sberbank bought Turkey's DenizBank.
By Jason Hovet and Krisztina Than. PRAGUE/ BUDAPEST, Oct 3- The zloty jumped half a percent on Wednesday after the Polish central bank held interest rates, surprising analysts who had expected a cut to counter a slowdown in the region's largest economy.
LONDON/ MILAN, Oct 3- Offshore natural gas could dramatically change Greece's fortunes, should early estimates of $600 billion worth of reserves be confirmed, according to a study presented to Prime Minister Antonis Samaras in June and seen by Reuters.
MOSCOW, Oct 3- Russia's consumer prices rose 0.1 percent in the week to Oct 1 after rising 0.1 percent in the previous period, the Federal Statistics Service said on Wednesday. This brings inflation since the start of the year to 5.2 percent compared to 4.7 percent in the same period of 2011..
MOSCOW, Oct 3- Russia's central bank expects the country's current account surplus to disappear by 2015 but it hopes capital will also exit the country at a slower pace, keeping the currency market stable, according to its mid-term monetary strategy.
"The dispute is connected with a 5- billion-litas overpayment for Gazprom gas, which was supplied to Lithuania under certain contracts," the Energy Ministry said in a statement, which was released as Lithuania heads to elections in two weeks.
WARSAW, Oct 3- Poland's central bank kept its key interest rate unchanged at 4.75 percent on Wednesday, defying expectations that it would cut borrowing costs to help the ailing economy. Twenty-one out of 27 analysts polled by Reuters last week had expected the bank's 10- strong Monetary Policy Council to cut the key rate by 25 basis points to 4.50.
MOSCOW, Oct 3- Russia's competition regulator is positive toward Telenor's proposal to reach parity ownership in telecoms group Vimpelcom with Russian co-investor Altimo, its head said on Wednesday.
WARSAW, Oct 3- Poland's central bank will announce its monthly interest rate decision at 1140 GMT, the bank said in a statement on Wednesday.
VILNIUS, Lithuania-- Lithuania's government said Wednesday it planned to file a 1.45 billion claim against Russia's Gazprom, alleging that the world's largest natural gas company has hiked prices unfairly.
Oct 03- The increase in the Polish government's expected deficit in its 2013 budget reflects a more realistic forecast of the economy, rather than any weakening in the Polish government's commitment to fiscal prudence, Fitch Ratings says. Slower growth remains the principal risk to successful financial consolidation.
SOFIA, Oct 3- Bulgaria has managed to navigate the euro zone's debt crisis with little damage thanks to tight fiscal policy at the expense of slow growth that is keeping living standards among the European Union's lowest. Following are the main political risks for Bulgaria: GOVERNMENT SUPPORT.
WARSAW, Oct 3- Poland wants its new shale gas law to go into force next year, Piotr Wozniak, the deputy environment minister responsible for the draft law said on Wednesday, but added that it would be best if a shale gas tax waited until at least 2016..
China's official services PMI slowed to 53.7 percent in September from 56.3 in August, highlighting the economy's seventh straight quarter of slowdown, while Australia posted weak export data.
MOSCOW, Oct 3- Eurasia Drilling:. *Eurasia's current onshore drilling volume forecast is for at least 5.8 million metres for 2012, implying growth of approximately 21 percent y-o-y. *Capital expenditure is expected to increase to between $550 and $600.
The clashes broke out two days after Kyrgyzstan's Prime Minister Zhantoro Satybaldiyev travelled to the Kumtor gold mine operated by Canada's Centerra Gold Inc and gave assurances the venture would not be nationalised. "Bureaucrats in the government promised that they would take Kumtor back and it would work for the good of the people...
*Poland seen cutting rates as slowdown deepens. PRAGUE, Oct 3- The zloty led losses in central European currencies on Wednesday, while Polish bonds were a tad stronger ahead of a central bank decision, which is expected to make the third cut in interest rates in the region in a week. By 0909 GMT, the zloty.
*Germany needs to put up with higher inflation. BUDAPEST, Oct 3- The world economy will take at least 10 years to emerge from the financial crisis that began in 2008, the International Monetary Fund's Chief Economist Olivier Blanchard said in an interview published on Wednesday.