Eastern Europe


  • Polish government to approve shale gas law next week Tuesday, 9 Oct 2012 | 7:37 AM ET

    WARSAW, Oct 9- Poland's government will approve a long-awaited new shale gas law during its sitting next week, Prime Minister Donald Tusk said on Tuesday. We will be approving this draft at the government's sitting next week, "Tusk said at a news conference.

  • *Serbia's c.bank raises rates by 25 bps to 10.75 pct. BUDAPEST, Oct 9- Emerging European currencies were mixed on Tuesday with markets digesting weaker global growth forecasts from the IMF and with Serbia's dinar mildly firmer after its central bank raised interest rates to curb inflation. Serbia's central bank increased its benchmark interest rate.

  • Solvay sets up joint venture with SIBUR in Russia Tuesday, 9 Oct 2012 | 7:11 AM ET

    BRUSSELS, Oct 9- Belgian chemicals group Solvay. will create a joint venture for oilfield process chemicals with Russian petrochemicals group SIBUR, the company said on Tuesday. The unit, which will be owned in equal parts by both companies, will produce surfactants which are used in home and personal care products as well as the oil and gas industries, Solvay said.

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

  • Czech cbank: Sept CPI data confirm tone of fcast Tuesday, 9 Oct 2012 | 7:03 AM ET

    PRAGUE, Oct 9- Czech September inflation data confirm the tone of the central bank's macroeconomic forecast regarding the anti-inflationary effect of the domestic economy, the bank said on Tuesday. The forecast assumes a further decline in interest rates in the next several quarters.

  • LUXEMBOURG, Oct 9- Eleven European Union countries support the introduction of a tax on financial transactions, EU Tax Commissioner Algirdas Semeta told EU finance ministers on Tuesday, a number that exceeds the nine needed to legally launch the initiative. The new countries that joined the initiative are Italy, Spain, Slovakia and Estonia.

  • MOSCOW, Oct 9- Russia's former finance minister Alexei Kudrin, who has a reputation among investors for fiscal prudence, denied a news agency report that he had been offered the post of head of a proposed financial super-regulator.

  • Slovaks lift import ban on Czech spirits Tuesday, 9 Oct 2012 | 6:37 AM ET

    BRATISLAVA, Oct 9- Slovakia will lift an import ban on Czech-made spirits and liquors on Tuesday, ending a restriction put in place last month after nearly 30 people died from drinking poisonous bootleg booze in its central European neighbour.

  • LUXEMBOURG, Oct 9- Slovakia will join a group of European Union countries that want to introduce a common tax on financial transactions, Vazil Hudak, the country's secretary of state told his EU counterparts during discussions in Luxembourg on Tuesday.

  • TBILISI, Oct 9- Power in Georgia has peacefully changed hands after a tense parliamentary election but as the next government takes shape under billionaire Bidzina Ivanishvili, the likely prime minister, businesspeople face political uncertainty. "All businessmen have mixed feelings," said Fadi Asli, head of the International Chamber of Commerce in Georgia.

  • *Budapest says "will not surrender Hungary's independence". *Hungary in talks on multi-billion euro IMF/EU funding deal.

  • LONDON, Oct 9- Emerging stocks were little changed on Tuesday as hopes that China's markets could be opened up further to offshore investors counterbalanced growth warnings from the International Monetary Fund.

  • HONG KONG, Oct 9- Nobel laureate Shinya Yamanaka warned patients on Tuesday about unproven "stem cell therapies" offered at clinics and hospitals in a growing number of countries, saying they were highly risky.

  • PRESS DIGEST - RUSSIA - Oct 9 Tuesday, 9 Oct 2012 | 5:46 AM ET

    MOSCOW, Oct 9- The following are some of the leading stories in Russia's newspapers on Tuesday. -Chief of Russia's consumer safety watchdog Gennady Onishchenko demands that people living near Sheremetyevo airport in Moscow be removed from the area before the construction of a new landing strip begins, the paper writes.

  • Major Russian phone operator to go public Tuesday, 9 Oct 2012 | 5:39 AM ET

    MOSCOW-- Russia's second-largest mobile phone operator MegaFon says it will go public in London and Moscow in November. MegaFon, the last of Russia's big three mobile company to hold an IPO, said on Tuesday in a regulatory filing that it would sell an unspecified amount of stock at Moscow's MICEX and the London Stock Exchange by year-end.

  • MOSCOW, Oct 9- Russia's foreign trade surplus rose to $12.64 billion in August from $11.05 billion in July, the central bank said on Tuesday. It provided the following data:. RUSSIAN FOREIGN TRADE Aug' 12 July' 12 Aug' 11 Exports 42.054 40.645 44.541 Imports 29.414 29.594 30.172 Balance +12.640 +11.051 +14.369.

  • UPDATE 1-BP, AAR in race to sell out of TNK-BP first Tuesday, 9 Oct 2012 | 4:54 AM ET

    LONDON, Oct 9- BP's billionaire partners in TNK-BP, Russia's third-biggest oil producer, have put their stake up for sale, starting a race with the British company to exit the venture and strengthening the hand of prospective state-controlled buyer Rosneft.

  • TEXT-Fitch affirms Alrosa at 'BB-';outlook stable Tuesday, 9 Oct 2012 | 4:47 AM ET

    Oct 09- Fitch Ratings has affirmed Russia- based diamond producer OJSC ALROSA's Long-term Issuer Default Rating and senior unsecured rating at' BB-' and Short-term IDR at' B'. Fitch assesses Alrosa's link with its controlling shareholder, the Russian Federation, as medium, which provides a one-notch uplift to the company's standalone ratings.

  • Russian assets tread water as oil rally falters Tuesday, 9 Oct 2012 | 4:47 AM ET

    MOSCOW, Oct 9- Russian stocks were flat on Tuesday morning, hampered by a faltering rally in oil prices and telecoms stocks showing little reaction to a $2 billion IPO announcement by mobile operator Megafon.

  • TNK-BP's Russian shareholders may sell out Tuesday, 9 Oct 2012 | 4:46 AM ET

    MOSCOW-- BP's billionaire Russian partners in TNK-BP indicated on Tuesday that they are considering selling their stake in the oil joint venture or disposing of it through an IPO. Moscow- based TNK-BP is jointly owned by BP and AAR, a group of Russian billionaire shareholders.