Central Europe News
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The forint strengthened to its highest level in three weeks as German industrial production rose for a second month and an unexpected acceleration in China’s external trade growth boosted riskier, emerging-market assets.
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Emerging stocks rose to an eight-week high, almost erasing this year’s drop, as foreign inflows boosted Indian shares and homebuilders paced gains in Brazil.
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Ronald S. Lauder, the newly re-elected president of the World Jewish Congress, apologized to Hungarian Prime Minister Viktor Orban days after saying he failed to draw a “clear line” between his government and the radical nationalist Jobbik party.
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Lafarge SA, the world’s biggest cement maker, reiterated its full-year forecast as cold weather, stinted Algerian and Egyptian production and fewer working days constricted first-quarter sales.
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Immofinanz AG of Austria fell on its first day of trading on the Warsaw Stock Exchange, becoming the biggest property developer listed on central Europe’s fastest- growing equity market.
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Jewish leaders from around the world called on Hungarian Prime Minister Viktor Orban to do more to stem rising anti-Semitism in the country as the premier urged “zero tolerance” for nationalist hatred.
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Strabag SE, central Europe’s biggest builder, said it will cut its dividend by two-thirds after full-year net income fell 69 percent on one-time effects.
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Most of Europe will be cooler than normal for a third month in May while the Nordic region will be warmer than average, according to weather forecasters.
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Erste Group Bank AG, eastern Europe’s third-biggest bank, reported first-quarter profit that missed analyst estimates as weak credit demand and low rates contributed to a decline in interest income. The shares fell.
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PKO Bank Polski SA, Poland’s biggest bank, will expand its stock research to cover companies outside its home market as foreign competitors are scaling down operations in central Europe’s largest economy.
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