Eastern Europe
Latvia Elections May Hamper Austerity, Weigh On Credit Rating, Fitch Says Latvian elections this autumn
threaten to hamper government efforts to push through austerity
measures vital to its international bailout, burdening the
country’s credit rating, Fitch Ratings said.
Romania Offers Yield Above Croatia to Lure Investors to Biggest Bond Sale Romania will offer bond yields
higher than similarly rated Croatian debt to lure investors to
its biggest sale of Eurobonds.
Latvian Economy Contracted 16.9% in Fourth Quarter on Weak Consumer Demand Latvia’s economic output contracted
the most in the European Union in the fourth quarter as retail
sales fell by a third and manufacturing remained weak.
Zloty Slides as Polish Central Banker Wiesiolek Says Ready to Intervene The Polish zloty extended losses
for a third day after Deputy Central Bank Governor Piotr
Wiesiolek told PAP newswire that the bank is operationally ready
to intervene on the foreign-exchange market if necessary.
Telekomunikacja Loses European Union Court Challenge to Polish Regulations Telekomunikacja Polska SA, Poland’s
largest phone company, lost a challenge at the European Union’s
highest court to national rules that block service providers
from tying customers to combined sales contracts.
India Seeks Partnerships With Rosneft, Gazprom for Russian Oil, Gas Fields India will seek stakes in Russia’s
oil and gas fields in partnership with Rosneft Oil Co. and
Gazprom OAO during Prime Minister Vladimir Putin’s visit to New
Delhi, a government official said.
Ruble Gains for Fifth Day, Forcing Central Bank to Relax Band on $82 Oil The ruble rallied for a fifth day
against the central bank’s currency basket, forcing the
regulator to ease its trading band for the 14th time in three
weeks, as oil above $82 a barrel boosted the outlook for
Russia’s economy.
Estonia Economy Expanded for First Time in Eight Quarters on Export Growth Estonia exited the European
Union’s third-deepest recession in the final quarter of last
year as exports rose and companies stockpiled alcohol, tobacco
and fuel before tax increases.
Hungarian Inflation Rate Declines From 17-Month High on Food, Fuel Costs Hungary’s inflation slowed in
February, strengthening the case for interest rate cuts, after a
jump in food prices and a tax increase boosted the rate to a 17-
month high the previous month.
Orascom Development Plans $913 Million of Low-Cost Homes in Romania, Iraq Orascom Development Holding AG, a
resort company run by billionaire Samih Sawiris, plans to spend
5 billion Egyptian pounds ($913 million) on building low-cost
homes in the Middle East and Europe to generate steadier
earnings growth.
Yanukovych Gets Ukraine Coalition After Changing Laws to Ensure Support Ukraine formed a parliamentary
coalition sympathetic to President Viktor Yanukovych after
lawmakers passed a bill easing the process in a move that may
reduce political instability and unfreeze a $16.4 billion loan.
Putin Visits India in Race With U.S., Europe for Arms, Nuclear Agreements Russian Prime Minister Vladimir
Putin arrives in New Delhi tonight to fend off competition from
the U.S. and Europe to supply arms and nuclear energy to India.
CNPC Denies Bribery Allegation in Purchase of Share in Kazakh Oil Company China National Petroleum Corp.
denied an allegation that it paid a bribe in 2003 when it
acquired the Kazakh government’s stake in oil producer AO CNPC-
AktobeMunaiGaz.
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