Cyprus Mail
Business

EBRD faces rare loss due to Russia, Ukraine crisis

By Marc Jones

The European Bank for Reconstruction and Development will probably report its first loss since the global financial crisis due to turmoil in Russia and Ukraine, the development bank’s Vice President Andras Simor said on Wednesday.

Simor told Reuters that a fall in the value of its Russian equity investments due to the rouble’s slide as well as provisions against other losses in both countries meant an overall loss for 2014 was likely.



Related posts

Eastern Libyan forces strike Tripoli port in new escalation

Reuters News Service

Prisoner 3870, alias ‘El Chapo,’ appears in rare Mexican video

Reuters News Service

Britain’s row with Greece over treasures spills into Brexit tensions

Reuters News Service

Cayman Islands tops ranking of money hideouts

Reuters News Service

French fret over subsidies in post-Brexit EU budget talks

Reuters News Service

Robots, clocks and computers: How Ancient Greeks got there first

Reuters News Service