GO
Loading...

Eastern Europe

More

  • However, Economy Minister Janusz Piechocinski said Poland would not follow Hungary in making banks convert Swiss franc mortgages to the local currency at below the current market rate. Instead, he said Poland will urge banks to let borrowers convert their loans into zlotys using the exchange rate of the day and with no commission. Economist Adam Antoniak with...

  • BRUSSELS, Jan 28- The EU has prepared a draft statement for the foreign ministers of its 28 members to agree to extend sanctions against Russia by six months, add new people to the sanctions list and prepare new measures. The statement was referring to asset freezes and travel bans put on dozens of Ukrainians and Russians since Russia's annexation of Ukraine's...

  • UPDATE 1-OMV, Gazprom amend gas supply deal terms Wednesday, 28 Jan 2015 | 8:15 AM ET

    VIENNA, Jan 28- Austrian energy group OMV and Russian natural gas exporter Gazprom have agreed to amend a long-term contract for gas supplies, OMV said on Wednesday without disclosing details. Alexander Medvedev, deputy head of Gazprom's management committee, and OMV Chief Executive Gerhard Roiss signed the amendment at a meeting in Vienna, OMV said in a...

  • *Gazprom cannot afford to lose Ukraine. MOSCOW/ KIEV, Jan 28- Ukraine has a stronger hand to play at talks with Russia on gas supplies thanks to the fall in oil prices, which has dragged down gas prices, and after showing it can live on less. Although a milder winter and a scramble for other sources has shown Ukraine can survive with less gas from Russia, it still needs it to...

  • MOSCOW, Jan 28- Russia announced a $35 billion "anti-crisis" spending plan on Wednesday to bail out an economy battered by Western sanctions and falling oil prices, but gave few details of the deep cuts it said would be enacted this year to pay for it. The 2.34 trillion rouble spending plan includes 1.55 billion roubles to support banks, most of which was already...

  • Putin eyes benefits as rebels gain in Ukraine Wednesday, 28 Jan 2015 | 5:09 AM ET

    *Fighting has surged in eastern Ukraine. *Putin blames Kiev but could see gains. MOSCOW, Jan 28- Boxed into a corner by a financial crisis and the West's refusal to drop sanctions over the conflict in Ukraine, Russian President Vladimir Putin has come out fighting.

  • President Barack Obama and German Chancellor Angela Merkel expressed their concern about Russia's role in rising violence in eastern Ukraine in a phone call late on Tuesday and agreed on the need for funds to stabilise the Ukrainian economy. The White House said both leaders were worried about " Russia's materiel support for the separatists" and its failure...

  • Russia's economy has been battered by lower energy prices, a collapse in the value of the ruble and Western sanctions over its involvement in Ukraine. Russia's GDP is expected to decline by 4-5 percent this year, the first drop since 2009. The ruble has lost half of its value while the Standard& Poor's ratings agency downgraded Russia's credit rating to a...

  • MOSCOW, Jan 28- The Russian rouble weakened on Wednesday, with a retreat in oil prices and a threat of new sanctions on Moscow for its role in the Ukraine crisis promising to weigh on the currency in the near future. Analysts said a meeting of EU foreign ministers on Thursday to discuss more punitive measures against Russia was the key factor for Russian markets.

  • MOSCOW, Jan 28- For Boris Lisitsyn, Russia's financial crisis means less meat, cheese and sausage- hardships the 86- year-old says won't kill him anytime soon. But for him and the millions of pensioners who make up about a third of Russia's population, rising prices are also spurring anger over declining living standards, threatening a pool of support President...

  • MOSCOW— Russian news reports say that a manager at the Central Bank's branch in a far eastern city has killed three colleagues and then himself after losing his job. The man had worked as a deputy chief of the Central Bank's office in the city of Blagoveshchensk near the border with China before he was fired, the reports said. The Central Bank confirmed the four...

  • *Russia added 20.73 tonnes in December-IMF. *Gold price rose in December for first time in five months. SINGAPORE, Jan 27- Russia extended its buying spree of gold to a ninth straight month, and the price of gold rose for the first time in five months, data from the International Monetary Fund showed on Tuesday.

  • MILAN, Jan 27- Embattled Italian oil services group Saipem is in pole position to win a contract worth up to $2 billion to replace pipes at the Kashagan oilfield in Kazakhstan, two sources with knowledge of the matter said on Tuesday. Saipem has had 10 billion euros wiped from its value over the past two years, hit by two profit warnings, a corruption investigation in...

  • BUCHAREST, Romania— Two Romanian former ministers have been jailed for commercial espionage and treason in the sale of strategic state companies. The High Court of Cassation and Justice on Tuesday handed Former Economy Minister Codrut Seres a sentence of four years and eight months for treason and transmitting state secrets; and Zsolt Nagy, former...

  • MOSCOW, Jan 27- Russia's Gazprom plans to supply the first gas via a new route to Turkey in December 2016, Chief Executive Alexei Miller said in a statement on Tuesday. Gazprom said last year it would build a new pipeline to Turkey with a capacity of 63 billion cubic metres a year to bypass Ukraine. Miller added Russia and Turkey would sign an agreement on building the...

  • LONDON, Jan 27- Russia's rouble climbed on Tuesday, recovering some of its poise following a 6 percent drop the previous day after ratings agency Standard& Poor's cut the country's rating to junk, though Moscow stocks traded lower. Russia's stock market was closed when S&P announced on Monday it was cutting Russia's rating from BBB- to BB+, citing a weakened...

  • Although the rouble fell sharply on Monday and bond yields rose, analysts said that the immediate implications of the downgrade were limited, as the move was largely priced in and other major agencies still rate Russia above junk. Russian assets had already fallen sharply before the decision because of renewed fighting in Ukraine and the threat of fresh...

  • BRUSSELS— European Union leaders are threatening fresh sanctions against Russia because of what it sees as "growing support" of Moscow for separatists in eastern Ukraine during intensified fighting over the past days. The European Union has imposed a series of economic and political sanctions on Moscow and officials linked with last year's annexation of...

  • What the credit downgrade to 'junk' means for Russia Tuesday, 27 Jan 2015 | 3:45 AM ET

    Standard& Poor's on Monday cut Russia's rating to BB+, a non-investment grade the country last held in 2004, when it was still recovering from a painful financial collapse in the 1990 s. It noted Russia's financial system is weakening, and that the central bank will increasingly have trouble supporting it. Russia's economy is expected to contract by 4 to 5 percent...

  • RUSSIA AND IRAN TO CREATE MUTUAL ACCOUNT FOR BILATERAL PAYMENTS IN NATIONAL CURRENCIES- RIA CITES IRANIAN AMBASSADOR TO MOSCOW.