Economy of Europe

There remains a lot of interest in Turkey among international investors, a London Stock Exchange official told Anadolu Agency on Jan. 16.

Borsa Istanbul, Turkey's main stock exchange, signed a deal on Jan. 13 allowing the London Stock Exchange to list futures and options based on the BIST 30 Index and on leading Turkish stocks. The deal is subject to regulatory approval.

A leap sudden leap in the value of the Swiss franc in relation to the euro has caused a knock-on effect Croatia, bringing bad news to Croats holding loans in the Swiss currency.

During a single day the franc rose by 15.8 per cent in relation to the kuna.

The kuna is linked to the euro, to which the Croatian national bank, HNB, tries to keep the kuna pegged.

The U.S. Congress may add several limitations to trading with Turkey in the trade notes it will present to the White House in the coming weeks, according to sources in Washington.

Turkish-American associations have called for support from Turkish companies in the U.S. and other members of the Turkish-American community in their lobbying activities in Washington.

Russian energy giant Gazprom has urged the European Union to link up to its planned energy pipeline to Turkey or lose the gas that now transits Ukraine.

Heating utility Toplofikatsiya Sofia has run up debts of BGN 627 M in unpaid gas bills.

The major portion of the debt, BGN 500 M, is to be paid to the Bulgarian Energy Holding (BEH), while the remaining sum of BGN 127 M is owed to state-owned gas supplier Bulgargaz.

Bulgarian President Rosen Plevneliev and British Foreign Secretary Philip Hammond have discussed EU reform and bilateral cooperation within EU and NATO.

Gazprom CEO Alexei Miller has said that the South Stream gas pipeline has been conclusively abolished and the Turkish Stream project has been put on the agenda.

Miller was quoted as saying that the EU had to fast-track the construction of infrastructure for receiving gas supplies through the Turkish Stream pipeline.

Hungary wants talks with Serbia about new pipeline

BUDAPEST, BELGRADE -- Hungarian Foreign Minister Peter Szijjarto expects "intensifying talks with Turkey, Greece, Macedonia and Serbia about a potential new pipeline."

The pipeline "could follow that route to central Europe," Reuters reported.

By Jeff Black & Nikos Chrysoloras

The European Central Bank is threatening to choke off funding to Greece?s lenders in the hope it won?t actually need to.

E.ON Distributie Romania, the first integrated gas and electricity distributor in Romania has begun activity from Jan. 1 and is operating over 20,000 kilometres of natural gas distribution network and more than 80,000 kilometres of electricity distribution network serving around three million clients overall, the company said in a release on Monday.