Central & Eastern Europe

Devaluation of the ruble is over, says Kudrin, Russia's finance minister.   The Kremlin rolled out a revised version of its economic crisis plan, extending additional credits to the beleaguered banking sector possibly at the expense of direct loans to ...

EUROPE     Cash is costly for Hammerson, developer of this UK cineplex With headlines dominated by bank bailouts totaling billions of dollars, it’s easy to get blasé about the scale of the challenge facing the global economy. Nevertheless, a ...

Sechin: Russia's deputy prime minister and Rosneft chairman In a signal that the Russian government is increasingly aware of the financial constraints it is facing, a top Kremlin adviser said that the state would not be bailing out any more ...

Banking crisis / central & eastern europe Central and Eastern Europe has suffered more than most regions as a result of the credit crunch. Some are concerned that economic turmoil may lead to social unrest.   Ukrainian prime minister, Yulia ...

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RUSSIA     Constant pressure: Ukraine and Russia tussle over gas supply contracts In what has become an annual ritual, just after the start of the new year Russia cut off the supply of natural gas to Ukraine—and, given the ...

RUSSIA     Defending his legacy: Putin spends his way out of financial crisis. The Russian economy continued to slide down a slippery slope of economic crisis as a series of adjustments to the trading corridor of the ruble reflected ...

RUSSIA     Deripaska: A dramatic turnaround The global financial crisis is sucking Russia’s oligarchs into its vortex. Information provider Bloomberg recently estimated that the combined wealth of the 25 richest Russians had plummeted 62% over the six-month period ended ...

CENTRAL & EASTERN EUROPE Central and Eastern Europe has transformed from a beacon of hope into a near basket case astonishingly quickly. Its recovery will be a far slower and no less painful process.   Hard hit: Hungary was one ...

RUSSIA     Medvedev: Struggling through a turbulent first year in office. The Russian government is struggling to contain a rapidly unfolding and sharply accelerating economic crisis. The ruble has continued to slide—the currency has devalued 10% against the dollar ...

RUSSIA       The global flight from risky assets saw $1 trillion wiped off Moscow's stock market.   Russia continued to be buffeted by the global financial crisis, with the country’s stock index plummeting nearly 70% from all-time highs ...

  DR NEWS       Eleven new companies, spun off from Russia’s former electricity monopoly, selected The Bank of New York Mellon as the depositary for their Regulation S and Rule 144A global depositary receipt programs. The bank is ...

COUNTRY REPORT / TURKEY Turkey’s Islamist government has narrowly avoided a constitutional crisis, but it is still treading a fine line in its quest for economic progress.   When Turkey’s constitutional court dismissed a move in July to outlaw the ...

ANALYSIS / RUSSIA’S GEORGIA GAMBIT Russia’s recent assault on Georgia raises some scary prospects for European nations dependent on energy supplies from West Asia.     Double act: Vladimir Putin passed the presidency to Dmitry Medvedev but still retains much ...

  RUSSIA       Medvedev: Seemingly helpless in the face of a stock market rout.     Can Russia’s president Dmitry Medvedev save the country’s financial markets? In the second week of September he declared that it was “within ...

RUSSIA     Russia's actions in South Ossetia exacerbated a stock market slide. Russian markets have been in turmoil for a month after the country signaled its intent to move back up the geopolitical pecking order by marching its troops ...

GEORGIA         Few in the oil industry doubt that the Russia-Georgia conflict is as much about tightening the squeeze on oil and gas supply to the West as it is about protecting minorities in South Ossetia and ...

REGIONAL REPORT / CENTRAL AND EASTERN EUROPE They dodged the early fallout from the credit crunch, but Central and Eastern Europe’s economies are facing growing challenges.   All change: Central and Eastern Europes economies are in transition. Next year Europe’s ...