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.
Naked Swaps Crackdown Threat in Europe Rings Hollow Without Obama Backing European politicians and regulators
could initiate a continent-wide ban on speculative trading of
sovereign credit-default swaps tomorrow. Making it stick without
the Americans won’t work.
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.
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.
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.
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.
Romanian Industrial Sales Advanced for Second Month in January on Exports Romanian industrial sales rose in
January for a second consecutive month because of an increase in
west European demand for manufactured goods such as cars,
chemical products and textiles.
Magnit February Sales Up 28% to $531 Million as Retailer Opens New Stores OAO Magnit, Russia’s second-largest
food retailer, said sales rose 28 percent last month from the
same period last year to 15.7 billion rubles ($531 million) as
it opened new stores.
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.
World Currency Trade Rose 17% to $2.7 Trillion a Day in April to October Global currency trading rose to
$2.7 trillion a day between April and October, the first growth
since the six months to April 2008, the Reserve Bank of
Australia said, citing data from five markets.
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.
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.
Russian Billionaires Double to 62 as Economic Revival Begins, Forbes Says The number of Russian billionaires
nearly doubled to 62 this year from 2009 as the country’s
economy began to emerge from its worst economic slump since the
collapse of the Soviet Union, according to Forbes magazine.
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