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The Regions This Week
March 29, 2019 www.intellinews.com I Page 6
Eastern Europe
Denmark asked for an option to change
the route of the Nord Stream 2 pipeline of Russian gas giant Gazprom, Nord Stream 2 AG, the company operating the project, said. Copenhagen reportedly wants to lay the pipeline in the country's exclusive economic zone located to the south of Bornholm island. Denmark remains the only country that has not given permission for the pipeline.
Russia's finance ministry could limit the
issue of OFZ federal bonds after overselling two Eurobond issues on favourable market conditions, Finance Minister Anton Siluanov said. Last week the ministry tested the investor sentiment amid sanction risks and swiftly placed $3bn and €0.75bn worth of Eurobonds.
The board of the Central Bank of Russia (CBR) decided to maintain the key interest rate at 7.75% at the latest policy meeting, while lowering inflation guidance for 2019 and allowing for monetary easing later this year.
The BBC apologised and agreed to pay damages to Ukrainian President Petro Poroshenko for its incorrect 2018 report claiming a payment was made to extend a meeting between Poroshenko and US President Donald Trump.
Turkey and Russia have been in talks on allow- ing Russian nationals to travel to Turkey without a passport, the Turkish foreign minister said. If the arrangement is sealed, it could prove a boon for Turkey’s tourism industry, a major source of hard currency for the country.
Russian Orient Express Bank (OEB or Vostochniy Bank) will postpone the additional share issue of RUB5bn previously planned for April, the bank's director and minority shareholder told Vedomo-
sti daily. OEB is central to the charges pressed against Michael Calvey, the US-citizen founder of Baring Vostok Capital Partners, Russia’s biggest and most successful private equity fund.
The Russian real estate market leader PIK Group will have to raise RUB170bn-250bn ($2.6bn-3.3bn) of banking loans to comply with the new residential housing rules coming into effect as of July 1, 2019. The changes will ban pre-selling apartments, which has been a favour- ite way to finance the construction of buildings for Russian developers.
Russian steel pipe maker TMK will sell 100% in its US subsidiary IPSCO Tubulars for $1.2bn to Italian Tenaris, the company said in a Lon- don Stock Exchange filing. The deal will be held on cash free, debt-free basis and will include $270mn of working capital.