Cyprus Announces New Bailout Plan, Drops Proposed Tax
President Nikos Anastasiades has announced an agreement between political parties in Cyprus to establish an "investment solidarity fund" as part of a new bailout plan.
The quiet global energy revolution
In all the noise of tomorrow’s Budget, many may not spot a small tweak to the fiscal regime for UK oil and gas. Those of us with a close interest in unconventional oil and gas, however, will be watching closely. Last year the Chancellor announced a consultation on a specific tax regime for onshore shale gas development, the results of which are expected on Wednesday.
Ukraine negotiating observer status in Customs Union
Ukraine intends to obtain observer status in the Customs Union of Russia, Belarus, and Kazakhstan, the country's premier has announced.
Russia condemns 'unfair' Cyprus bank levy
Putin warns proposed levy on bank deposits in Cyprus, a favoured offshore haven for Russian big business, would be dangerous
Kazakhstan Blackmails Russia over Gas Supplies
Kazakhstan could divert its natural gas supplies from the largest deposit in Karachaganak to China if it fails to sign a contract with Russia.
Turkmenistan plans production at big gas field
Turkmenistan aims to start production by July at the Galkynysh natural gas field, the world's second largest, said its minister of oil and gas as the country seeks to boost exports of the fuel and diversify its markets.
Russia may lose over $50 billion should Cyprus default
Cyprus’ debt crisis puts Russian banks and companies at risk of losing billions of dollars. Russian businesses may reportedly lose over $50 billion should the island's government default on its debt obligations according to Moody's credit rating agency.
Estonian President discussed preparations for adopting the euro with Lithuanian MFA
The meeting of the Estonian President, Toomas Hendrik Ilves, and the Lithuanian Minister of Foreign Affairs, Linas Linkevičius, who arrived in Estonia for a visit on Wednesday, focused on Lithuania's preparations to join the euro area in the coming years, the president's office said.
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