Page 7/13

Russia

Eder: Future of Voestalpine and Steel Manufacturing Industry

In an interview CEO of voestalpine, Wolfgang Eder explains the current situation on the steel market and points out that mass products will come from CESEE countries in the future.

April 4, 2013

Russia: Refinancing Rate Expected to Be Cut

The Central Bank of Russia (CBR) estimates inflation risks higher than a slow economic growth. However, the refinancing rate is expected to be lowered soon.

April 3, 2013

Gazprom to Absorb Romanian Bunkering Operator

Gazprom affiliate Neft Marine Bunker LLC has acquired Romanian Marine Bunker Balkan.

April 3, 2013

European Banks Leaving CESEE Countries

Two banks from EU member state countries Sweden and Italy have announced withdraw from their holdings in Hungary, Russia and Ukraine.

April 2, 2013

Green’s Fear of Russian Black Money in Austria

Once more, the Austrian Greens insist on a reform of the bank secrecy.

April 2, 2013

Cyprus: Finance Minister Steps Down

According to reports by the media, Finance Minister of Cyprus, Michael Sarris will be replaced.

April 2, 2013

Cyprus: No Bank Run

The feared bank-run after the almost two-weeks long closing of the banks in Cyprus has not occured.

March 29, 2013

Czech Republic: Gazprom to Build New Gas Storage Tanks

Gazprom and MND Group are going to invest € 100m in a gas storage facility near the Austrian border.

March 26, 2013

Medvedev Vexed Over EU

In case the government will not come to conclusion how to generate the required money (€ 5.8bn), the ECB will cut off the money supply for Cyprus’ ramshackle banks.

March 25, 2013

Russia Wants Berezovsky’s Heritage

After the death of Kremlin critic Boris Berezovsky, Russia wants to grab the former entreprenuer’s assets.

March 25, 2013

Cyprus: Votes on Mandatory Levy

In case the government will not come to conclusion how to generate the required money (€ 5.8bn), the ECB will cut off the money supply for Cyprus’ ramshackle banks.

March 23, 2013

Exiled Russian Tycoon Boris Berezovsky Found Dead

Russian oligarch Boris Berezovsky has died, it was reported today. The exiled businessman, who last year lost a multibillion-pound High Court fight with Chelsea Football Club owner Roman Abramovich, was found dead at his home in Surrey.

March 23, 2013

Russia Enhances Oil Supply to China

Experts describe the dealings as a community of purpose rather than a sign of improved relations.

March 23, 2013

Cyprus: Negotiations About “Plan B“ Today

After days of negotiations in Moscow, Cyprian Finance Minister had to return empty-handed. Talks about “plan B” will continue today.

March 22, 2013

Medvedev: Harsh Criticism For EU At Conference in Poland

At a two day’s international press convention for EU journalists, Russian Prime Minister Medvedev has highlighted the improved political and economic interaction between Russia and Poland. However, he critized the EU on its Cyprus-politics.

March 21, 2013

Cyprus: No Hope in Sight Yet

It is still uncertain if an agreement with Russia about the sale of gas fields can be found. President of the EU commission has joined the talks in Moscow.

March 20, 2013

Cyprus Appeals for Help to Russia

In a vote on Tuesday the government has decided not to use the private money of Cyprus‘ citizens to help bail out the banks. After the rejection, the EU aid package is now off. Cyprus hopes rest on Russia at this point.

March 20, 2013

Russia: Gazprom Runs the Risk of Losing Market Shares

According to the newspaper “RBC Daily”, Gazprom stands to lose a further market share for gas supply as German energy enterprises are prompting the government to start producing shale gas.

March 19, 2013

Cyprus to Receive € 10bn in EU Aid Money

Russia being the biggest investor in Cyprus offered extension of credits. In return, austerity measures and reforms are demanded.

March 16, 2013

VBAG is Forced to Continue Radical Downsizing Measures

The partly nationalized and financially stricken Austrian banking group has to implement a painful restructuring concept. At the moment, VBAG sells its properties.

March 15, 2013

Russia: Former Economy Minister To Become New Governor Of Central Bank

Former economy minister Elvira Nabiullina will take over the post of the Central Bank of Russia (CBR) Governor.

March 14, 2013

Russia: Banks At Risk Of Losing Billions

According to rating agency Moody’s, Russians banking institutes are at risk of losing money to investments in Cyprus.

March 14, 2013

Russia’s Share in Latvian Exports Decreases

Provisional data of the Central Statistical Bureau show that in January 2013 compared to December of previous year, exports value of goods at current prices decreased by 4.6%, but of imports – by 4.1%.

March 13, 2013

Russia: Battle Between Rosneft And Gasprom Starts

The fight between Russia’s two biggest energy providers Rosneft and Gasprom has started. Rosneft tries to snatch away large deposits of raw oil and reports Gasprom to the government.

March 12, 2013

Russia: Rosneft Takes over TNK-BP

The EU Commission has approved of the fusion of TNK-BP and Rosneft. According to the commission, Rosneft will still have business competition.

March 11, 2013

Lithuania: Exports Decreased by 7.6 % in January

Foreign trade in January 2013 decreased. Major losses in Agricultural sector.

March 8, 2013

Hungary: OTP’s Profits Lower Than Expected for Q4

OTP said it had to recover from losses from previous year. Income in the core domestic business fell 17 % to HUF 94.6 bn in 2012. Still, net profits are up 46 %.

March 8, 2013

Austria: Increase Of Foreign Trade

Even with the economy crisis, the percentage of foreign business expands.

March 8, 2013

Recession in Euro-Area Still Affects CESEE Countries

According to the Vienna Institute For International Economic Studies (wiiw), the double-dip recession over, yet there is no economic growht in sight for CESEE countries.

March 7, 2013

Mixed Outlook for Russia

This year, Russia´s GDP will grow by 3.3%, the World Bank predicts. Regarding economic reforms, Russia must improve its effort, though.

March 4, 2013

Romania As Risk Factor for Austria´s Public Finance

The partly nationalized Austrian banking group VBAG faces difficulties in Romania. The Austrian Ministry of Finance tries to prevent further capital injections into VBAG.

March 2, 2013

Bulgaria: Stop of Constructing Nuclear Power Plant in Belene

Together with Russia, Bulgaria stopped the controversial construction of a nuclear power plant in Belene close to the Danube.

March 1, 2013

Austria Become Second Most Important Trading Partner for Hungary

Last year, only the foreign trade volume between Hungary and Germany was higher. Peter Szijjarto, spokesman of Prime Minister Viktor Orban´s party Fidesz says.

February 23, 2013

Poland: Nuclear Power Plant Project Wobbles

Poland´s Treasury Minister Mikolaj Budzanowski explained that Poland cannot afford the nuclear power plant.

February 23, 2013

Ukrainian Banking Sector Recovers

According to Raiffeisen Research, the important of foreign banks in the Ukraine is decreasing. Due a decrease in provisions, the profitability of the banking sector goes up.

February 21, 2013

Sberbank Threatens to Sue VBAG

Last year, VBAG has sold VBI (Volksbank International) to Russian Sberbank. Now, Sberbank is highly dissatisfied with the performance of VBI.

February 19, 2013

Turkey Plans to Build First Nuclear Power Plant

In order to become energy autonomous, the country wants to put a nuclear power plant into operation in six years.

February 16, 2013

EU Foreign Trade with Russia and Turkey Growing Strongly

Last year, the EU has achieved a trade surplus of € 105bn. The trade surplus with Turkey was up by € 25bn. Exports to Russia were up by 15%.

February 15, 2013

Russia: Consumer Loans Growing Substantially

At the moment, the market for consumer loans is growing by 40%. The household indebtedness is still relatively low.

February 13, 2013

Russia Makes Oil to Gold

In the last decade, Russia´s government has transformed the oil exports into gold reserves. No other country has bought more gold in the last years.

February 12, 2013

Russia: National Bank Under Pressure

Russia´s National Bank faces a growing inflation rate. At the same time, the economic growth flattens.

February 9, 2013

Necas Supports Turkish EU Membership

On the occasion of Prime Minister Erdogan´s visit in Prague, his Czech counterpart Necas assured to support Turkey´s candidacy.

February 6, 2013

Erdogan Considers Joining „Shanghai Five“

Turkey´s Prime Minister Recep Tayyip Erdogan increases the pressure on the EU. He considers a political re-orientation towards the east.

February 1, 2013

EU FDI Stocks: Russia Ranks Fifth

Foreign Direct Investment EU27 investment stocks in the rest of the world increased by 50% between 2008 and 2011.

January 22, 2013

Nabucco: Decision Will Be Announced by Mid-2013

The Shah Deniz II consortium will announce its decision on the pipeline project in June, Nabucco´s CEO Reinhard Mitschek says.

January 21, 2013

CESEE Property Market Highly Heterogeneous

In Austria, the yield is expected to shrink further. However, the investments will be stable, CBRE Austria says. In the CESEE region, the situation is ambiguous.

January 21, 2013

Russian Rosatom May Build Nuclear Power Plant in Bohunice

Because of the completion of the Czech nuclear power plants, the Czech energy company CEZ is expected to withdraw from the construction project.

January 19, 2013

Deripaska Increases Stake in Strabag

The Russian industrialist Oleg Deripaska buys 0.6% of Strabag shares. In total, he holds a stake of 18.2%.

January 18, 2013

Stepic: „CESEE Region Faces Challenging Year“

RBI´s (Raiffeisen Bank International) CEO Herbert Stepic explained that central, eastern and southeastern Europe is still Europe´s growth engine.

January 15, 2013

CEE Banking Study 2013: “Banks Rebalance Their Business Models” (2)

Total assets and lending have grown steadily since 2008, even though at a slower pace than before the crisis and with a stronger focus on domestic funding sources.

January 15, 2013
Fast News Search