Europe Intelligence Wire articles from October 2006

Europe Intelligence Wire archives from October 2006

UT Diary.
October 31, 2006... (From The Ukrainian Times) Byline: Vlad Zhovten UKRAINE November 13: A dairy and cash crop farm based in the village of Tankove near the Crimean town of Bakhchisarai will be auctioned in the city of Simferopol. The initial...

UkrSotsBank to start crediting in Swiss francs.
October 31, 2006... (From The Ukrainian Times) Byline: Vladimir Volchkov At the start of 2007 the UkrSotsBank will give natural and legal persons credits in Swiss francs at the rates which are lower than crediting in dollars (13%) and euros (12%). The...

EU Seeks Clarity on Energy Projects.
October 31, 2006... (From The Moscow Times) EU Energy Commissioner Andris Piebalgs urged Russia on Monday to improve its investment climate and cautioned that the country needed a lot of cash quickly if it hoped to meet the growing European demand for...

Policemen to Go Free After Beating Boy.
October 31, 2006... (From The Moscow Times) A Moscow judge will decide Tuesday whether police officers were guilty of abusing their power when they seriously beat a 12-year-old boy who had done nothing wrong but no matter what, the officers won't be...

City Grapples With Thousands of Strays.
October 31, 2006... (From The Moscow Times) Feral dogs have become a common sight in Moscow. They sleep in packs in empty lots and underground passages; they are fed by the kindhearted and abused by the cruel. Click here to see photo essay (All photos...

Politkovskaya Debate Unfair And Too Early.
October 31, 2006... (From The Moscow Times) The last thing I wanted to do was to address the polemics over the murder of Anna Politkovskaya in the foreign and domestic media before 40 days had passed since her tragic death. According to Russian tradition,...

Have a Gothic Halloween.
October 31, 2006... (From The Moscow Times) They may still attract plenty of curious glances, but goths, or goty as they are called in Russian, have become a fixture in Moscow, most noticeably in the park around the boulevard at Chistiye Prudy, where they...

Bonfire Night.
October 31, 2006... (From The Moscow Times) In Britain, schoolchildren are brushing up on the story of a 17th- century plot to kill King James I. TV ads lecture about firework safety at events commemorating it. Stores are brimming with crackers and...

No Mare Milk at Yurta.
October 31, 2006... (From The Moscow Times) If you're craving some Tuvan delicacies like araka milk vodka or the sheep-blood dish khan, be forewarned you won't find them at cafe Yurta. This might come as a surprise, both because of the cafe's name --...

Chef's Secrets.
October 31, 2006... (From The Moscow Times) Fillet of Roe Deer With Berries and Relish Yar's head chef, Maxim Tarusin, shares a recipe that would ideally use roe deer, although regular deer meat can be used instead -- available at markets or via the...

First Significant Snowfall Hits Moscow.
October 31, 2006... (From The Moscow Times) The first significant snowfall of the winter hit Moscow Sunday night. Residents of the Vorobyovy Gory area south of the city center woke to find 10 centimeters of snow on the ground, the largest amount...

Alcohol Poisoning Deaths on the Rise.
October 31, 2006... (From The Moscow Times) The death toll from alcohol poisoning continued to climb as industry experts debated the reintroduction of a state monopoly and the Interior Ministry trumpeted efforts to root out moonshine. The latest...

Prison Rule on Food Is Upheld.
October 31, 2006... (From The Moscow Times) The Supreme Court reaffirmed a prison rule Monday making it a violation for inmates to share food, responding to an appeal filed by jailed Yukos founder Mikhail Khodorkovsky. The ruling stemmed from an...

BMI Promises Lower London Fares.
October 31, 2006... (From The Moscow Times) British airline BMI on Monday vowed to drive down prices on flights between Moscow and London as it started daily service on the route. BMI, Britain's third-biggest airline, made its first flight into...

13 CEOs Back Russia in WTO.
October 31, 2006... (From The Moscow Times) Chief executives of 13 international corporations that do business in Russia have asked the U.S. and Russian presidents to speed up Russia's entry to the World Trade Organization. The CEOs sent a letter with...

Sale of OGK-5 Stake Likely a 3-Way Split.
October 31, 2006... (From The Moscow Times) Gazprombank, an unidentified strategic investor and portfolio investors have placed bids for shares in power generation company OGK-5, making the issue four times oversubscribed, a person familiar with the deal...

TMK Sale Will Raise $972M.
October 31, 2006... (From The Moscow Times) Shares in pipe manufacturer TMK will begin trading Tuesday in Moscow and London in a $972 million IPO, a banker involved in the deal said. The world's second-largest producer of seamless pipe is selling 180...

Finnish Furniture Firm Enters St. Pete.
October 31, 2006... (From The Moscow Times) ST. PETERSBURG -- Vepsalainen, the largest design furniture store chain in Finland, opened its first Russian store late last week and presented plans to give Swedish rival IKEA some competition by opening nine...

Young Rich Prefer the City Life.
October 31, 2006... (From The Moscow Times) Demand for luxury apartments within the city limits and close to business centers is growing, fueled by a crop of well-heeled young people who find the smoke of nightclubs more attractive than the fresh air of a...

United Technologies gets $18M Navy pact.
October 31, 2006... (From AFX Europe (Focus)) WASHINGTON (AFX) - The U.S. Navy on Tuesday said it gave a $18.6 million modification to an Army contract previously awarded to a unit of United Technologies Corp. The pact, awarded to Stratford,...

Court blocks ruling on tobacco industry.
October 31, 2006... (From AFX Europe (Focus)) WASHINGTON (AFX) - A federal appeals court blocked a landmark judgment against the tobacco industry Tuesday, clearing the way for the companies to continue selling "light" and "low tar" cigarettes until their...

AEP earnings fall 32 percent.
October 31, 2006... (From AFX Europe (Focus)) COLUMBUS, Ohio (AFX) - American Electric Power said Tuesday that despite better sales, third-quarter earnings fell 32 percent because of costs incurred from the sale of a plant in Louisiana. One of the...

McKesson earnings top analyst views.
October 31, 2006... (From AFX Europe (Focus)) SAN FRANCISCO (AFX) - McKesson Corp.'s quarterly profit climbed 37 percent to soar past analyst expectations, prompting the nation's largest prescription drug distributor to brighten its financial outlook. ...

Time Warner Telecom closes Xspedius buy.
October 31, 2006... (From AFX Europe (Focus)) LITTLETON, Colo. (AFX) - Time Warner Telecom Inc., a provider of managed voice and data networking services for businesses, Tuesday said it completed the roughly $576 million purchase of Xspedius Communications...

Kimber, shareholder resolve proxy battle.
October 31, 2006... (From AFX Europe (Focus)) NEW YORK (AFX) - Canadian mining company Kimber Resources Inc. said Tuesday it resolved a proxy battle with shareholder James Puplava, president of Puplava Financial Services Inc. Earlier this month Puplava...

Audi board member certain agreement will be reached with.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - A board member of German car maker Audi on Monday said he was certain the Hungarian government would come to an agreement with the company on a dispute over...

Hungary's trade deficit EUR 258.1m in August, down EUR 29.8m.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Hungary's trade deficit was EUR 258.1m August, EUR 187.4m less than in the same month a year earlier, the Central Statistics Office (KSH) reported on Tuesday in...

No massive support for referendum initiative - paper.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - The opposition Fidesz party's initiative to hold a referendum on several components of the national reform programme is not supported by 55 percent of those asked in a...

Hungary August trade deficit EUR 258.1m.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Hungary's August trade deficit was 258.1 million euros, down 187.4 million euros from August 2005, said the Central Statistical Office (KSH) on Tuesday in a second reading of...

SP Table - Hungary's foreign trade.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Hungary's foreign trade indicators (at current prices) =================================================================== Export Import Balance...

Forint firms on interbank market.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - The forint firmed on Tuesday morning's interbank market, trading at 261.90-262.30 against the euro at around 9:30 a.m., compared to a Monday-afternoon rate of...

Hungary's population decline slows in January-August.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Hungary's population decline slowed in the first eight months of 2006 as the number of births slightly increased, while the number of deaths declined, compared to the same...

Total Hungaria reduces capital after petrol station swap.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Total Hungaria, the Hungarian unit of fuel company TotalFinaElf has reduced its registered capital to HUF 2.7bn from HUF 4.2bn, business daily Napi Gazdasag...

Professional association urges measures against black market.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - The Hungarian Association of Meat Companies is urging measures to be taken to combat black market sales of pork, association head Attila Berczik told MTI on...

Hungary's trade deficit EUR 258.1m in August, down EUR 29.8m.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Hungary's trade deficit was EUR 258.1m August, EUR 187.4m less than in the same month a year earlier, the Central Statistics Office (KSH) reported on Tuesday in...

Fund assets increase 22.3pc in Q3.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Assets in funds managed by the Hungarian Association of Fund and Asset Managers (BAMOSZ) rose 22.3pc to HUF 2,549bn in the third quarter of 2006, BAMOSZ said on...

Table - Budapest forint fixing.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Official forint fixing of the National Bank of Hungary (previous rates in brackets): ==============================================================...

Opposition party to stage torch-light demo.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - The large opposition Fidesz party will stage a torch-light demonstration in Budapest on November 4, spokesman Peter Szijjarto announced on Tuesday. The demonstrators...

Budapest forint fixing.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Official forint fixing of the National Bank of Hungary:OpreU Australian dollar 158.51 Bulgarian lev 133.93 Canadian dollar 182.95 Croatian kuna 35.58 Czech crown 9.29...

Int'l bands at weekend Jewish music festival.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Two international music groups and a Hungarian music band will participate at the Jewish music festival due to take place in Budapest this weekend. The three-day...

Less than one third of families having reserves.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Twenty-seven percent of Hungary's families have savings, market research institute GfK reported on Tuesday. The institute said the ratio had not changed since the end...

Table - Three-month discount treasury bill auction.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - =================================================================== Auction date 10.10.06 17.10.06 24.10.06 31.10.06...

Table - Six-month discount treasury bill auction.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - =================================================================== Auction date 20.09.06 04.10.06 18.10.06 31.10.06...

Less than half of voters would answer "yes" to referendum.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Less than half of voters would answer yes to the seven questions on a referendum called for by parliamentary opposition Fidesz-KDNP, according to a survey...

Ryanair launches Frankfurt-Balaton flight.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Europe's largest low-cost airline Ryanair launched a regular flight between Frankfurt-Hahn airport and FlyBalaton airport at Sarmellek near Lake Balaton, W Hungary, on...

Milan commemorates 1956 anniversary.
October 31, 2006... (From Hungarian News Agency (MTI)) Milan, October 31 (MTI) - The northern Italian city of Milan commemorated the 50th anniversary of Hungary's ill-fated 1956 revolution in the Teatro San Ciprio Theatre on Monday evening, Hungary's Consul...

Mixed yields at T-bill auction.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - The State Debt Management Centre (AKK) sold only the announced amount of three- and six-month T-bills at auction on Tuesday, despite three-fold...

ELLA shareholders approve capital raise, subordinated loan.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Shareholders of Hungarian home savings bank ELLA decided at a general meeting on October 26 to raise capital at the bank to HUF 4bn. The owners also decided to...

Roma leader calls for president's help to fight Anti-Roma.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - The Roma Civil Rights Foundation has sent a letter to President Laszlo Solyom asking him to help pave the way for national unity in the fight against anti-Roma sentiment, the...

Table - AKK benchmark yields.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Benchmark yields of government securities =========================================================== M a t u r i t y Date 3-m 6-m 1-y 3-y 5-y 10-y...

Table - Financial market indices and rates.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-Econews) - ======================================== BUBOR ---------------------------------------- O/N 7.09 +0.02 1 week 8.00 +0.06 2 week 8.00 0.00 1 month 8.03...

2007 budget draft projects 6.9pc-of-GDP deficit.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - The government projects a cash flow-based general government deficit of HUF 1,753.2, or 6.9pc of expected GDP, in the 2007 budget, Finance Minister Janos Veres...

Household debt stock increases 22pc in January-September.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Gross household debt was HUF 4,620bn at the end of September, 22pc more than at the end of 2005, the latest figures from the National Bank of Hungary (NBH)...

FinMin gives 2007 deficit as 6.8 percent of GDP.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Hungary's finance minister said on Tuesday that Hungary's 2007 public finance deficit had been calculated at 1,753.2 billion forints (about 6.7 billion euros), amounting to...

Charges his Strasbourg speech was anti-Hungary were communist.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Main opposition Fidesz party chair Viktor Orban told Parliament's European Affairs committee on Tuesday that charges his speech in Strasbourg last week was directed against...

Government raises cash flow-based deficit target to 9.7pc of.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - The government projects a cash flow-based general government deficit of HUF 2,055.5bn this year, or 9.7pc of GDP, according to an amendment to the 2006 Budget...

Gov't to amend 2006 budget deficit to 10.1pc of GDP.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Hungary's government will put before Parliament an upward correction in the 2006 public finance deficit to 2,055.5 billion forints (about 7.9 billion euros) or 10.1 percent...

Protesters' group appeals to U.S. over Oct 23 police action.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - The Hungarian National Committee 2006, a group of anti-government demonstrators, appealed to the United States "foreign affairs committee" in an open letter on Tuesday to...

Forint firms on interbank forex market.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - The forint was trading at 260.10/20 to the euro late on Tuesday, compared to 262.50 on Monday, strengthening 84bp to 7.87pc in its +/-15pc intervention band....

Marihuana plants found on hog farm in CW Hungary.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Customs investigators found more than 170 marihuana plants growing on a hog farm in central western Hungary and apprehended the owner, the National Bureau of Investigation...

Budapest Airport submits proposal for lower fees to Civil.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Budapest Airport has submitted a proposal for lowering its fees to the Civil Aviation Authority following talks with airlines, Budapest Airport spokesman...

SP Table - Central budget revenue.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) (in HUFbn) =========================================================== Revenue 2006 2007 target forecast...

SP Table - Central budget expenditure.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) (in HUFbn) =========================================================== Expenditure 2006 2007 target forecast...

BUX loses 44.11 points in quiet trade.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Losses from BSE Big Four issuers Mol and Richter dropped the Budapest Stock Exchange's blue-chip BUX index to a modest Tuesday decline of 44.11 points to...

Police behaviour appropriate when dispersing protesters, says.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - The police were within the law and acted appropriately when dispersing demonstrators in Budapest on October 23, the justice and law enforcement minister told a joint...

MTI organizes photo exhibition on past 50 years.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Hungarian News Agency MTI has organized an exhibition of photographs of the past 50 years, which opened at Budapest's Ethnography Museum on Tuesday. Addressing the...

Academy of Sciences to maintain full autonomy, says president.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - The participants at the Hungarian Academy of Sciences' extraordinary assembly fully supported plans to maintain the organisation's autonomy because the "freedom of science...

Budget draft shows 6.8pc-of-GDP ESA deficit for 2007.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - The 2007 draft budget submitted to Parliament by the Finance Ministry on Tuesday shows unconsolidated gross revenue of HUF 14,406.1bn and expenditures of HUF...

OTP Bank prices EUR 500m bond issue.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Hungary's OTP Bank has priced its perpetual EUR 500m upper Tier 2 subordinated bond at 200 basis points over mid-swaps or 221.5bps over bunds, Dow Jones...

Tamas Katona appointed new president of State Treasury.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - Finance Minister Janos Veres has appointed Tamas Katona to replace Andras Mohos as president of the State Treasury effective November 1, the ministry announced...

2007 budget targets HUF 32.2bn social security funds deficit.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31, 2006 (MTI-ECONEWS) - The 2007 budget draft submitted to Parliament by the government on Tuesday targets a HUF 32.2bn deficit in the social security funds. The health fund accounts...

Oct. 23 police action was necessary, justice minister tells EU.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Justice and Law Enforcement minister Jozsef Petretei called measures taken by police on October 23 necessary and justified in a letter to European Union Commissioner for...

Nearly 30 commemorations of crushed revolution scheduled for.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Budapest Police Headquarters (BRFK) has received 29 requests to hold public gatherings in the capital on Saturday, to remember the Soviet crushing of the Hungarian uprising...

Four homeless die of hypothermia.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Four homeless persons have died of hypothermia as a result of the sudden drop in temperatures at the end of October, a welfare ministry commissioner said on Tuesday. The...

Demonstrators to sue gov't claiming police brutality.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - The Hungarian National Committee 2006, a group of anti-government demonstrators, will sue the government for the police brutality experienced on October 23, one of the...

UPDATE-Opposition party to stage torch-light demo (adds MSZP.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - The large opposition Fidesz party will stage a torch-light demonstration in Budapest on November 4, spokesman Peter Szijjarto announced on Tuesday. The demonstrators...

Health care insurance system to set up monitoring authority.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Hungary's health care system needs a monitoring authority like the ones already in operation in liberalised sectors, Health Minister Lajos Molnar said in Parliament on...

Three cities hold anti-gov't protests.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - Anti-government demonstrations were reported from only three cities outside Budapest on Tuesday, with around 100 participants attending each protest. In Debrecen, E...

Demonstration by Batthyany eternal flame ends for night.
October 31, 2006... (From Hungarian News Agency (MTI)) Budapest, October 31 (MTI) - A demonstration held at the Batthyany eternal flame a few blocks from parliament ended on schedule at 2100 hours local time on Tuesday and the roughly 100 people there left...

Forex - US dollar softer in Sydney morning trade after overnight sell-off.
October 31, 2006... (From AFX Europe (Focus)) SYDNEY (XFN-ASIA) - The US dollar was softer against the yen and euro here, continuing to slip after US data released overnight turned out to be weaker than expected, dealers said. They said the market's...

Citigroup wins bid for China's Guangdong Development Bank - report.
October 31, 2006... (From AFX UK (Focus)) BEIJING (XFN-ASIA) - Citigroup has won the bid for Guangdong Development Bank, the official Shanghai Securities News reported, citing an unidentified source. The source said Citigroup and the Chinese lender...

Silicon Image to review stock options.
October 31, 2006... (From AFX UK (Focus)) SUNNYVALE, Calif. (AFX) - Semiconductor company Silicon Image Inc. said Tuesday it has began a voluntary internal review of its stock options compensation practices. The company said it has also received notice...

Conde Nast buys Internet startup reddit.
October 31, 2006... (From AFX UK (Focus)) NEW YORK (AFX) - Wired Digital, the Web home of Conde Nast Publications's Wired magazine, said Tuesday it has purchased reddit, a Boston-based technology startup, for an undisclosed amount. Reddit's Web site...

$1.18B loss for NWA in Q3.
October 31, 2006... (From AFX UK (Focus)) MINNEAPOLIS (AFX) - Northwest Airlines Corp. said that bankruptcy expenses gave it a $1.18 billion third-quarter loss, but that it would have shown a profit without these and other one-time items. Northwest has...