Eastern European nations must renew efforts to overhaul their economies to avoid “forever trailing” western living standards, according to the European Bank for Reconstruction and Development.
Poland plans to raise as much as 2.83 billion zloty ($913 million) from the sale of a stake in power utility Energa SA in central Europe’s largest initial public offering in two years.
Cyfrowy Polsat SA, the Polish media group controlled by billionaire Zygmunt Solorz-Zak, agreed to buy mobile-phone company Polkomtel in a 5.15 billion-zloty ($1.7 billion) all-share transaction.
The European Bank for Reconstruction and Development is studying offering as much as 54 million euros ($72 million) of lending for Kazakhstan’s first large wind farm.
Russia’s deepening economic slowdown is impeding eastern Europe’s recovery as lower oil prices hurt the world’s largest energy exporter, the European Bank for Reconstruction and Development said.
The European Bank for Reconstruction and Development plans to invest as much as 600 million euros ($810 million) in Romania in 2014, possibly matching this year’s level, to support its energy and banking industries.
United Nations climate talks will fail unless nations put aside their indifference toward other countries’ emission-reduction efforts, according to Third Generation Environmentalism Ltd.
Hungary’s ruling party proposed aiding foreign-currency mortgage borrowers using existing tools after legal obstacles delayed new assistance measures.
Erste Group Bank AG, the owner of Hungary’s second-largest lender, is optimistic about reaching a deal with the country’s government on phasing out billions of dollars of foreign-currency mortgages.
Hungary’s government, which threatened banks with a plan to phase out billions of dollars of foreign-currency mortgages, will delay presenting the measures because of potential legal obstacles.