Archive | June, 2009

PKN Orlen may breach loan covenants

PKN Orlen is in trouble again. Constant changes of leadership mean the group has real trouble following a set strategy. Political interference is the key probelm. A change of government means a change at the top for Orlen.According to ICIS news, quoting ING Bank, Orlen “could improve its financial health by selling its strategic oil […]

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INA deal gets anti-trust clearance

According to SeeNews – Croatia‘s Competition Agency (AZTN) has granted conditional approval to a deal that will give Hungary’s MOL control over Croatian blue-chip oil and gas company INA. This is exciting news for the chemical sector in Croatia which links heavily into INA for feedstocks. According to ICIS plants and projects the following facilities […]

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Nokia opens plant in Romania

Now this has to be good news for the region’s chemical industry. SETimes reports that Nokia has launched an accessories production site in Romania on Monday (June 1st).The company’s CEO for Romania, John Guerry, said the factory, based in Jucu, will be the only supplier for Nokia accessories in Europe. Using a single source is […]

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Fancy buying a 1927 underground power plant in Hungary?

Ever fancied a place in the sun? Hungary’s explosives manufacturer, Nitrokemia, has put its underground power plant site up for sale, according to The Guardian. Disused for many years, it might make a nice venue for a nightclub.It sounds very bijou: “Entry into the plant is through an unassuming office block. A spiral staircase winds […]

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Bankruptcies to soar in Eastern Europe, but not as bad as the West!

According to today’s ft.com, there will be a huge rise in corporate bankruptcies this year, up by 35% this year, “turning the world economy into a “burial ground” for businesses, according to a study by Euler Hermes, the credit insurer. In a study published on Thursday, the Paris-based unit of Allianz, says the rate of […]

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What is this blog for?

Why this blog?In my early days as a news reporter, central and eastern Europe plus Russia was part of my beat. I still have a keen interest in this region so it makes sense to have a way of gathering news together and commenting on it.In the early 2000′s when I started looking at this […]

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