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Europe News Eastern Europe

  • OSLO- Norges Bank Governor Oystein Olsen gives a speech for students at ANSA's career day- 0935 GMT. TALLINN- Estonia Central bank Governor and European Central Bank Governing Council member Ardo Hansson will speak on Estonia's economy- 0900 GMT. OSLO- Norges Bank Governor Oystein Olsen gives a speech to Norges Bank regional network, Region East- 1100 GMT.

  • MOSCOW, Dec 15- The Russian central bank said on Friday it may write off 100 billion roubles in subordinated debt issued by Promsvyazbank to reduce the amount the regulator needs to spend on bailing out the lender. "If you look at previous similar cases in Russia, all subordinated debt holders have been completely wiped out," said Ekaterina Sidorova, a corporate...

  • *C.bank cuts rate by 50 bps, sharper than expected. MOSCOW, Dec 15- The Russian central bank delivered a sharper-than-expected rate cut on Friday, a move that could help give consumers a feel-good factor months before the March presidential election which incumbent Vladimir Putin is expected to win. Lower rates are beneficial for Russia as they spur economic...

  • MOSCOW, Dec 15- Russia will place temporary restrictions on imports of tea and all other agricultural products from Sri Lanka from Dec. 18 after a beetle was found a tea consignment, the agricultural safety watchdog Rosselkhoznadzor said on Thursday. Sri Lankan tea accounts for 23 percent of the Russian market, with other supplies coming from India, Kenya, China...

  • MOSCOW, Dec 15- Up to $1.13 billion worth of subordinated bonds held by investors in Russia's Promsyvazbank are at risk of being written off if the central bank follows the precedent set by previous bailouts this year. Russia's central bank said on Friday it was placing Promsvyazbank, the country's 10th largest private lender, under temporary administration-...

  • TBILISI, Dec 15- Georgia expects state revenues and spending to rise next year and forecasts 4.5 percent economic growth in the budget passed by the parliament on Friday. Georgia's economy expanded by 2.2 percent last year and the government in Tbilisi expects it to grow 4.5 percent this year, helped by private-sector development, higher exports and...

  • MOSCOW, Dec 15- Former Russian economy minister Alexei Ulyukayev was found guilty of soliciting a $2 million bribe from Rosneft chief executive Igor Sechin and sentenced to eight years in jail on Friday. The high-profile court case shone a rare light on infighting among the Russian elite ahead of a presidential election in March which incumbent Vladimir...

  • *British Columbia rejects KGHM proposed Ajax mine. VANCOUVER/ WARSAW, Dec 15- Polish miner KGHM said on Friday it was considering its next step after British Columbia said it would not issue an environmental certificate for its Ajax copper and gold mine in the province's interior. It is located some 10 kilometres from the city of Kamloops, in central British...

  • The Central Bank says that, as Russia's ninth-largest lender with 1.3 trillion rubles in assets, Promsvyazbank is considered "systemically important" to the financial system. It's the third major private lender to be bailed out this year, following similar arrangements for Otkritie— once Russia's largest private lender— in August and B&N Bank in September.

  • BUDAPEST, Dec 15- The crown touched five-week lows against the euro on Friday due to concerns ahead of next week's Czech central bank meeting that its resolve to boost interest rates has weakened. The forint and the zloty received some support from the European Central Bank's dovish message after its Thursday meeting. Monetary stimulus in the euro zone has been...

  • MOSCOW— Russia and Egypt signed a deal on Friday to resume flights between Moscow and the Egyptian capital of Cairo starting from February, after more than a two-year break, officials announced. Moscow suspended flights to Egypt after a bomb by the local Islamic State affiliate brought down a Russian airliner over Sinai in October 2015, killing all 224 people on...

  • MOSCOW— Russia's transportation minister: Direct flights between Moscow and Egypt's capital, Cairo, are to resume in February.

  • BERLIN, Dec 15- German luxury automaker BMW said on Friday it will spend over 100 million euros on a test track for self-driving and electric cars in the Czech Republic, as it expands its foray into alternative driving technologies. The construction of BMW's first vehicle testing project in eastern Europe will create several hundred jobs in the Czech Republic,...

  • MOSCOW, Dec 15- Former Russian economy minister Alexei Ulyukayev was found guilty on Friday of soliciting a $2 million bribe from Rosneft chief executive Igor Sechin in a court case that has shone a rare light on infighting among the Russian elite. A Moscow court found Ulyukayev guilty of demanding and accepting the bribe on Nov. 14 last year.

  • MOSCOW— Russia's former economics minister was handed an eight-year prison sentence Friday after being convicted of accepting a $2 million bribe from one of President Vladimir Putin's top associates. Sechin heads Russia's largest oil producer, Rosneft, and his clout seconds only that of Putin. Ulyukayev was detained a year ago at Rosneft's headquarters...

  • MOSCOW- Central Bank of Russia announces interest rate decision- 1030 GMT. SATURDAY DECEMBER 16 BANGKOK- ECB Executive Board member Benoit Coeure speaks at an event organized by the South East Asian Central Banks Board of Governors in Bangkok. BUDAPEST- Hungarian Central Bank to discuss the final version of the Inflation Report.

  • **BEIJING- Bank of England Governor Mark Carney to be the UK- China Economic and Financial Dialogue, Beijing. BRUSSELS- European Central Bank President Mario Draghi participating in European Council meeting in Brussels, Belgium. STOCKHOLM- Riksbank general council meeting- 0900 GMT.

  • LONDON, Dec 14- Sberbank plans to meet a government demand to pay 50 percent or more of its earnings in dividends by 2020, if conditions are favourable, German Gref, the chief executive of Russia's largest lender, said on Thursday. Russia's central bank owns 50 percent plus one share in Sberbank and on Tuesday Gref said its board had agreed a new dividend policy but...

  • CAIRO— Egyptian Aviation Ministry officials say a security protocol is soon to be signed with Russia to prepare for the resumption of Russian flights to Egypt after more than a two-year hiatus. Aviation Minister Sherif Fathi headed to Moscow on Thursday to meet with his Russian counterpart to finalize the agreement. Moscow suspended flights to Egypt after an...

  • BUDAPEST, Dec 14- A businessman friend of Hungarian Prime Minister Viktor Orban has teamed up with a Czech energy group to take a big stake in Hungary's energy sector, where Orban has long been looking to wrest control from foreign owners. Lorinc Meszaros's Opus Global said on Thursday it had partnered with Prague- based EP Power Europe to buy a majority stake in...