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Ukraine PM seeking $5 billion loan from Russia

KIEV, Ukraine – Prime Minister Yulia Tymoshenko will travel to Russia early next month to seek a $5 billion (euro3.66 billion) loan for Ukraine’s collapsing economy, her office said Thursday, defying the pro-Western president who is her bitter political rival. President Viktor Yushchenko has assailed Tymoshenko over her efforts to …

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Georgia plans new power line for export to Turkey

TBILISI – Georgia plans to build a high voltage electricity line to Turkey that will increase its exporting capacity tenfold, according to Sulkhan Zumburidze, director of the state power dispatcher Georgian State Electrosystem. Zumburidze told Reuters on Thursday that the project will cost 220 million euros to complete, and will …

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Romanian PM says agreement with IMF only preventive measure

BUCHAREST – Romania’s agreement with the International Monetary Fund (IMF) and the European Commission is only meant as a preventive measure, Prime Minister Emil Boc said on Wednesday. “The agreement we are going to conclude with the European Commission and the IMF is meant only as a preventive measure, which …

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