Eastern Europe


  • By Agnieszka Barteczko and Maciej Onoszko. WARSAW, Oct 9- Would-be investors in ZE PAK, eyeing jittery financial markets and the Polish utility's ageing plants, are likely to drive a hard bargain in a flotation which may not achieve a market value much above 1.5 billion zlotys.

  • UPDATE 2-TNK-BP oligarchs try to dodge Rosneft Tuesday, 9 Oct 2012 | 11:05 AM ET

    By Andrew Callus and Douglas Busvine. LONDON/ MOSCOW, Oct 9- The billionaires who co-own Russian oil venture TNK-BP and want to buy out partner BP have told the British company they would rather sell their half of the $50 billion business than end up in a devalued partnership with state-backed rival bidder Rosneft.

  • EU fin mins blocked on thorny banking union Tuesday, 9 Oct 2012 | 11:02 AM ET

    LUXEMBOURG-- Europe made little progress Tuesday in its efforts to secure the region's stricken financial system and ensure that failing banks never risk an entire country's economy again when finance ministers from the 27- country European Union failed to agree on how a single banking supervisor should be set up.

  • UPDATE 1-Russian assets buoyed by oil rally Tuesday, 9 Oct 2012 | 10:50 AM ET

    MOSCOW, Oct 9- Russian equities turned positive on Tuesday, supported by an upturn in oil prices, while telecoms stocks edged higher following a $2 billion IPO announcement by mobile operator Megafon.

  • Rosneft says discusses trading issues with Gunvor Tuesday, 9 Oct 2012 | 10:40 AM ET

    MOSCOW, Oct 9- Russia's top crude producer Rosneft said on Tuesday its powerful chief executive Igor Sechin met the co-owners of international oil trading house Gunvor to discuss "trading issues", amid reports of a rift between Sechin and Gunvor's co-owner Gennady Timchenko.

  • TEXT-Fitch rates Russian Railways' notes 'BBB' Tuesday, 9 Oct 2012 | 10:27 AM ET

    Oct 9- Fitch Ratings has assigned RZD Capital Limited's 8.30% RUB loan participation notes due 2019 and 5.70% USD LPNs due 2022 senior unsecured' BBB' ratings. The new LPNs are to be consolidated and form a single series with the outstanding RUB25bn 8.30% LPNs due 2019 and USD1bn 5.70% LPNs due 2022 respectively.

  • *UK, Sweden, free-marketeers strongly opposed. The initiative, pushed hard by Germany and France but strongly opposed by Britain, Sweden and other free-marketeers, gained critical mass at a European Union finance ministers' meeting in Luxembourg, when more than the required nine states agreed to use a treaty provision to launch the tax.

  • Electricity for Wednesday delivery in the Czech Republic, Slovakia and Hungary gained nearly 12 percent to 51.77 euros per megawatt hour on regional exchanges. Since then Hungary has helped to narrow- and often erase- the typical Czech and Slovak discount to Germany.

  • TEXT-S&P raises BANK ROSSIYA's ratings to 'BB-/ruAA-' Tuesday, 9 Oct 2012 | 10:09 AM ET

    Rating Action On Oct. 9, 2012, Standard& Poor's Ratings Services raised its long-term issuer credit rating on BANK ROSSIYA to' BB-' from' B+' and affirmed its short-term rating at' B'. We also raised the Russia national scale rating on BANK ROSSIYA to' ruAA-' from' ruA'.

  • CEE MARKETS 3-Serbia's dinar rises after rate hike Tuesday, 9 Oct 2012 | 10:09 AM ET

    *Serbia's c.bank raises benchmark rate 25 bps to 10.75 pct. BUDAPEST/ BUCHAREST, Oct 9- Emerging European currencies and stocks were a touch lower on Tuesday after the IMF cut forecasts for global economic growth, but Serbia's dinar bucked the trend after an interest rate hike.

  • Poland, which hopes tapping into previously inaccessible shale gas reserves will reduce its reliance on costly gas supplies from Russia, has postponed the publication of the law several times in the past few months.

  • BELGRADE, Oct 9- Serbia's central bank raised its benchmark interest, already the region's highest, by 25 basis points to 10.75 percent on Tuesday, reflecting rising inflation and debt concerns.

  • *Fifteen firms, consortium bid for Cyprus offshore blocks. NICOSIA, Oct 9- Cyprus is close to short-listing companies bidding for offshore oil and gas contracts in the energy-rich east Mediterranean, officials said on Tuesday.

  • LUXEMBOURG, Oct 9- The 11 euro zone countries that agreed to push ahead with a tax on their financial transactions will present a model for how this could work by the end of the year, Austrian Finance Minister Maria Fekter said on Tuesday.

  • MOSCOW, Oct 9- Russia's No.2 crude producer LUKOIL said on Tuesday the Iraqi government has approved the geologic exploration, development and production contract for Block 10 in the southern part of the country. LUKOIL already works at giant West Qurna-2 oilfield in Iraq.

  • TABLE-Romania September jobless rate edges up Tuesday, 9 Oct 2012 | 8:49 AM ET

    BUCHAREST, Oct 9- Romania's unemployment rate edged up to 5.0 percent in September from August's 4.9 percent and was 12 basis points higher than a year before, the national employment agency said on Tuesday.

  • *Gazprom already ships 1.6 million tonnes of LNG a year to KOGAS. MOSCOW, Oct 9- Gazprom said on Tuesday it has signed an agreement to sell liquefied natural gas to Korea Gas Corporation, as it strengthens its position in Asian markets.

  • Vitol, Glencore dominate Russian oil trading Tuesday, 9 Oct 2012 | 8:19 AM ET

    *Breakthrough for Glencore as it gets Rosneft invitation. LONDON, Oct 9- Swiss trading houses Vitol and Glencore have become the largest players in the Russian oil export market, dominating supplies from the world's biggest producer after a switch in Kremlin policy opened up the trade. "Everywhere you saw Gunvor before, Glencore is now written in capital letters.

  • UPDATE 2-MegaFon says to launch London share sale Tuesday, 9 Oct 2012 | 8:02 AM ET

    *MegaFon says Russia focus is key advantage. By Megan Davies and Maria Kiselyova.

  • TEXT-Fitch affirms Ventrelt at 'BB-' Tuesday, 9 Oct 2012 | 7:58 AM ET

    Oct 09- Fitch Ratings has affirmed Ventrelt Holdings Ltd's Long-term foreign currency Issuer Default Rating at' BB-' with Stable Outlook. Fitch has also affirmed the senior unsecured rating of RVK-Finance LLC's RUB3bn bonds at' BB-'.