Latest Updates

Russia’s VTB trapped in a London lockdown until 2024

Russians state-owned banking giant VTB is trapped in an expensive lease for its European headquarters in London for another four years even as the Kremlin-controlled lender builds up a new investment base in Frankfurt, bne IntelliNews can reveal.

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LONG READ: A thinking exercise on Turkey and its lira

Erdogan administration officials are working around the clock trying to convince the world the currency can defy gravity. Nothing adds up in their favour. The worry is that they will end up trying to defy voters instead.

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KYIV BLOG: Ukraine battered by the winds of crisis, but still standing on its feet

As one of the poorest countries in the region that is in a very weak macroeconomic position, Ukraine is one of the most vulnerable to the series of external shocks delivered in the last two months.

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BALKAN BLOG: Why is it so difficult to set an election date in North Macedonia?

The coronavirus pandemic postponed North Macedonia's general election, but now the situation is returning to normal, political parties cannot agree on an election date. With the parliament dismissed in February, the way out of the crisis is unclear.

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Movie night at the airport

Central Europeans in need of a culture fix after weeks of lockdown can now watch films at a growing number of drive-ins and outdoor cinemas opened in car parks, airport aprons and other open spaces as restrictions are eased.

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Raw feelings in Turkmenistan as Berdimuhamedov pays 3.51 to the dollar

‘Hermit nation’ has been crisis-stricken ever since the previous energy price collapse. Reduced demand for gas from COVID-19 impacted China, savage windstorms and pandemic impacts on food imports move it ever nearer the edge.

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Ukraine secures agreement with IMF over new $5bn, 18-month programme

The International Monetary Fund signed off on a new staff level 18-month Stand-by Arrangement with Ukraine on the same day that Ukrainian President Volodymyr Zelenskiy signed the new anti-Kolomoisky banking bill into law.

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Russian OFZs are an Emerging Markets investor's safe haven

Russia has emerged as a safe haven for investors during the coronavirus (COVID-19) pandemic that has rocked capital markets around the world, according to a paper from the Institute of International Finance (IIF).

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PS752 Tragedy - Ukrainian aviation investigation head suggests passengers were out of their seats

Official releases more inside information on shooting down of passenger plane as Kyiv and Tehran fail to resolve differences on direction of probe.

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Poland announces major easing of coronavirus restrictions

Romania to break nuke plant expansion agreement with Chinese partner

Obtained records ‘show Azerbaijan foreign minister’s son bought lavish Trump Place apartments in Manhattan’

Poland announces major easing of coronavirus restrictions

PM Mateusz Morawiecki says Poland has controlled the pandemic much more effectively than some of the world's richest countries, as he relaxes restrictions on shops, restaurants and public gatherings.

Romania to break nuke plant expansion agreement with Chinese partner

State-controlled nuclear energy producer Nuclearelectrica will begin talks to terminate the agreement signed with China's CGN on the construction of two new reactors at the Cernavoda.

Obtained records ‘show Azerbaijan foreign minister’s son bought lavish Trump Place apartments in Manhattan’

Report says “it is not clear how” young Emin Mammadyarov could pay huge sums for luxury units.

News

New Iranian parliament under sway of “principalists” elects ex-Guards commander as speaker

Some critics see the 58-year-old as renowned for "changing direction and sides with the wind". New composition of lawmakers could block programme of moderate, pragmatic president Rouhani.

For first time Turkey’s LNG imports outstrip pipeline gas imports

Gas delivered via pipelines from Russia and Iran down 72% y/y and 33% y/y in March. US expanding shipments of liquefied natural gas amid glut as spot prices fall.

A third of Russians believe that the danger of the coronavirus epidemic is exaggerated or a fiction

A third of Russians (32.8%) believe that the danger of the coronavirus epidemic is exaggerated, or they consider it to be an invention of interested parties, according to a study conducted by the Higher School of Economics (HSE).

Tajikistan: Arrests spark fresh unrest in Pamirs

Government troops are rumoured to have been dispatched to quell the trouble.

Tensions between Bosnia, Montenegro and Serbia rise over closed borders

After declaring itself coronavirus free, Montenegro plans to open its borders — but not to neighbours Serbia or Bosnia, which claim the decision is linked to the dispute between the government in Podgorica and the Serbian Orthodox church.

New Iranian parliament under sway of “principalists” elects ex-Guards commander as speaker

1 hour ago

For first time Turkey’s LNG imports outstrip pipeline gas imports

55 minutes ago

A third of Russians believe that the danger of the coronavirus epidemic is exaggerated or a fiction

5 hours ago

Tajikistan: Arrests spark fresh unrest in Pamirs

16 hours ago

Tensions between Bosnia, Montenegro and Serbia rise over closed borders

1 day ago

More News

Tech

Estonia and Latvia among first countries to use coronavirus tracing app based on Apple/Google tech

Tracings apps are intended to allow identification and fast isolating of people suspected of carrying the virus and testing of those who might have been in contact with them.

Estonian ride-hailing service Bolt raises €100mn in latest financing round

The capital injection comes in spite of Bolt suffering a severe decline in demand under lockdown. CEO Markus Villig says the long-term drivers of on-demand mobility continue to grow.

Romanian firm develops first flat screen recycling line in region

Green WEEE says new recycling line is part of the company's strategy to diversify and increase production capacity.

Russia's Yandex.Taxi's IPO still on, as it struggles to stay profitable

Yandex.Taxi, the ride-hailing arm of Russian online giant Yandex, is pushing ahead with its plans to organise its highly anticipated initial public offering (IPO), while struggling to remain profitable despite the crisis

Russia's IT segment looks at losses in Q2

Hit by the coronavirus (COVID-19) crisis and lockdown measures aimed at curbing the pandemic, the Russian IT segment expects losses in the April-June period, unless support measures are offered by the government.

Estonia and Latvia among first countries to use coronavirus tracing app based on Apple/Google tech

1 day ago

Estonian ride-hailing service Bolt raises €100mn in latest financing round

1 day ago

Romanian firm develops first flat screen recycling line in region

3 days ago

Russia's Yandex.Taxi's IPO still on, as it struggles to stay profitable

10 days ago

Russia's IT segment looks at losses in Q2

10 days ago

More Tech

Opinion

COMMENT: Waking Sleeping Beauty: shaking up Uzbekistan’s banking sector

Whilst, the world was in a lockdown, the government of Uzbekistan has been busy reforming the banking sector. The government announced a detailed banking reform strategy for 2020-2025 to transform the sector

COMMENT: Will Central Europe’s economic recovery be stymied by populist banking laws?

Multiple financial fires raging across Central and Eastern Europe could have been put out had EU institutions responded sooner to the populist lawfare banks have been put through over the past few years.

OPINION: Why the Russian economy will inevitably become green after the COVID-19 epidemic is over

Investors are “risk on” again thanks to the coronavirus, but the climate crisis has not gone away, nor has work to build a financial green infrastructure stopped. Russian companies will inevitably join the fray and are already taking action

ING: Russia - The curious case of FX interventions

The Central Bank of Russia will make FX sales of more than $2.6bn in May, lowering the risks of a weaker ruble.

ING: Central and Eastern Europe’s fiscal and monetary response to COVID-19

What is behind the magic of high numbers of anti-crisis programmes to combat the economic fallout from COVID-19? Some CEE countries can afford policy responses like developed markets as their central banks kick-start QE support programmes.

COMMENT: Waking Sleeping Beauty: shaking up Uzbekistan’s banking sector

2 days ago

COMMENT: Will Central Europe’s economic recovery be stymied by populist banking laws?

9 days ago

OPINION: Why the Russian economy will inevitably become green after the COVID-19 epidemic is over

10 days ago

ING: Russia - The curious case of FX interventions

16 days ago

ING: Central and Eastern Europe’s fiscal and monetary response to COVID-19

16 days ago

More Opinion

Data

COVID-19 lockdown results in collapse of Lithuanian retail sales in April

Retail sales crashed 17.9% y/y in April, a fall that was expected after the government instituted a lockdown to contain the spread of the coronavirus.

Russian retail sales down by a quarter year on year in April, as unemployment soars

Russia’s April lockdown hit the statistics this week, after Rosstat reported that retail sales were down a massive 23.4% year on year and unemployment almost doubled in the month, the state statistics agency said on May 27.

Ukraine’s real wage gains still positive but fall in dollar terms in March

The average income in Ukraine has been rising steadily in recent years and rose from a mere UAH6.659 ($221) in January 2017 – making Ukrainians the poorest people in Europe – to almost double to UAH10.727 ($439) this January.

Belarus industrial output declined 3.8% year on year in 4M20

In January-April 2020 Belarus industrial output declined 3.8% year on year as the double whammy of the oil price collapse and the coronavirus stop-shock hit home.

Belarus industrial output declined 3.8% year-on-year in 4M20

In January-April 2020 Belarus industrial output declined 3.8% year-on-year as the double whammy of the oil price collapse and the coronavirus stop-shock hit home.

COVID-19 lockdown results in collapse of Lithuanian retail sales in April

22 hours ago

Russian retail sales down by a quarter year on year in April, as unemployment soars

1 day ago

Ukraine’s real wage gains still positive but fall in dollar terms in March

1 day ago

Belarus industrial output declined 3.8% year on year in 4M20

3 days ago

Belarus industrial output declined 3.8% year-on-year in 4M20

3 days ago

More Data

Features

Foreign share of Ukraine's domestic bonds falling, demand for fresh debt spluttering

Foreign investors piled into Ukraine’s local debt market since it was hooked up to Clearstream’s international payment and settlement system last March, investing $5bn, but now they are selling

Moscow wounded by the coronavirus epidemic, but best prepared to weather the storm

More than half of all Russia’s 300,000-plus registered cases of coronavirus infections are in Moscow, making it the epicentre of the Russian epidemic. But its size and wealth makes it the best able to cope with the crisis.

Business rallies to help in fight against coronavirus across Eastern Europe and Central Asia

Business leaders across the Former Soviet Union are using some of the riches they have amassed in the last three decades to help in the fight against the coronavirus.

CONFERENCE CALL: 5G to turbocharge post-COVID recovery

The coronavirus pandemic has been a fertile breeding ground for 5G conspiracy theories, and legitimate concerns about security still need to be addressed, but rolling out 5G mobile networks in Europe could give economies a much-needed boost.

Adriatic ports after the storm

Before the coronavirus pandemic disrupted global trade, the ports of the northern Adriatic — important entry points for Chinese goods to Central Europe — were expanding. As lockdowns are eased, it's time to look to the future again.

Foreign share of Ukraine's domestic bonds falling, demand for fresh debt spluttering

2 hours ago

Moscow wounded by the coronavirus epidemic, but best prepared to weather the storm

7 days ago

Business rallies to help in fight against coronavirus across Eastern Europe and Central Asia

8 days ago

CONFERENCE CALL: 5G to turbocharge post-COVID recovery

9 days ago

Adriatic ports after the storm

11 days ago

More Features

Blogs

BALKAN BLOG: National Theatre demolition adds fuel to Albania’s fiery politics

Experience in other countries in the region has shown that protest movements born out of campaigns over urban heritage have sticking power.

VISEGRAD BLOG: An average working day at the Hungarian parliament

On May 19 MPs voted to strip cultural workers of their public employment status, ban people from legally changing their gender and classify data on Hungary's largest-ever railway reconstruction project.

TEHRAN BLOG: Trump frets as Iranian fuel tanker steams to Venezuela

Maduro said to be paying Tehran in bars of gold for gasoline to relieve acute shortages. US president—needing a foreign policy victory such as the dislodging of the strongman ahead of his re-election bid—is reportedly considering his options.

BALKAN BLOG: Is Bulgaria the next serious hurdle on North Macedonia’s EU path?

The EU's conclusions on starting negotiations with candidate country North Macedonia include an appendix with long list of Bulgaria's demands including non-recognition of the Macedonian language.

ISTANBUL BLOG: The “last legs” lira

You can almost smell the acrid smoke pouring out of the Turkish economy. But the finance minister has been up on the virtual podium to insist all is well. Curious analysts tuned into his charm offensive.

BALKAN BLOG: National Theatre demolition adds fuel to Albania’s fiery politics

4 hours ago

VISEGRAD BLOG: An average working day at the Hungarian parliament

8 days ago

TEHRAN BLOG: Trump frets as Iranian fuel tanker steams to Venezuela

12 days ago

BALKAN BLOG: Is Bulgaria the next serious hurdle on North Macedonia’s EU path?

19 days ago

ISTANBUL BLOG: The “last legs” lira

21 days ago

More Blogs

Latest Updates

News

Some critics see the 58-year-old as renowned for "changing direction and sides with the wind". New composition of lawmakers could block programme of moderate, pragmatic president Rouhani.

Gas delivered via pipelines from Russia and Iran down 72% y/y and 33% y/y in March. US expanding shipments of liquefied natural gas amid glut as spot prices fall.

A third of Russians (32.8%) believe that the danger of the coronavirus epidemic is exaggerated, or they consider it to be an invention of interested parties, according to a study conducted by the Higher School of Economics (HSE).

Government troops are rumoured to have been dispatched to quell the trouble.

After declaring itself coronavirus free, Montenegro plans to open its borders — but not to neighbours Serbia or Bosnia, which claim the decision is linked to the dispute between the government in Podgorica and the Serbian Orthodox church.

Tech

Tracings apps are intended to allow identification and fast isolating of people suspected of carrying the virus and testing of those who might have been in contact with them.

The capital injection comes in spite of Bolt suffering a severe decline in demand under lockdown. CEO Markus Villig says the long-term drivers of on-demand mobility continue to grow.

Green WEEE says new recycling line is part of the company's strategy to diversify and increase production capacity.

Yandex.Taxi, the ride-hailing arm of Russian online giant Yandex, is pushing ahead with its plans to organise its highly anticipated initial public offering (IPO), while struggling to remain profitable despite the crisis

Hit by the coronavirus (COVID-19) crisis and lockdown measures aimed at curbing the pandemic, the Russian IT segment expects losses in the April-June period, unless support measures are offered by the government.

Opinion

Whilst, the world was in a lockdown, the government of Uzbekistan has been busy reforming the banking sector. The government announced a detailed banking reform strategy for 2020-2025 to transform the sector

Multiple financial fires raging across Central and Eastern Europe could have been put out had EU institutions responded sooner to the populist lawfare banks have been put through over the past few years.

Investors are “risk on” again thanks to the coronavirus, but the climate crisis has not gone away, nor has work to build a financial green infrastructure stopped. Russian companies will inevitably join the fray and are already taking action

The Central Bank of Russia will make FX sales of more than $2.6bn in May, lowering the risks of a weaker ruble.

What is behind the magic of high numbers of anti-crisis programmes to combat the economic fallout from COVID-19? Some CEE countries can afford policy responses like developed markets as their central banks kick-start QE support programmes.

Data

Retail sales crashed 17.9% y/y in April, a fall that was expected after the government instituted a lockdown to contain the spread of the coronavirus.

Russia’s April lockdown hit the statistics this week, after Rosstat reported that retail sales were down a massive 23.4% year on year and unemployment almost doubled in the month, the state statistics agency said on May 27.

The average income in Ukraine has been rising steadily in recent years and rose from a mere UAH6.659 ($221) in January 2017 – making Ukrainians the poorest people in Europe – to almost double to UAH10.727 ($439) this January.

In January-April 2020 Belarus industrial output declined 3.8% year on year as the double whammy of the oil price collapse and the coronavirus stop-shock hit home.

In January-April 2020 Belarus industrial output declined 3.8% year-on-year as the double whammy of the oil price collapse and the coronavirus stop-shock hit home.

Features

Foreign investors piled into Ukraine’s local debt market since it was hooked up to Clearstream’s international payment and settlement system last March, investing $5bn, but now they are selling

More than half of all Russia’s 300,000-plus registered cases of coronavirus infections are in Moscow, making it the epicentre of the Russian epidemic. But its size and wealth makes it the best able to cope with the crisis.

Business leaders across the Former Soviet Union are using some of the riches they have amassed in the last three decades to help in the fight against the coronavirus.

The coronavirus pandemic has been a fertile breeding ground for 5G conspiracy theories, and legitimate concerns about security still need to be addressed, but rolling out 5G mobile networks in Europe could give economies a much-needed boost.

Before the coronavirus pandemic disrupted global trade, the ports of the northern Adriatic — important entry points for Chinese goods to Central Europe — were expanding. As lockdowns are eased, it's time to look to the future again.

Blogs

Experience in other countries in the region has shown that protest movements born out of campaigns over urban heritage have sticking power.

On May 19 MPs voted to strip cultural workers of their public employment status, ban people from legally changing their gender and classify data on Hungary's largest-ever railway reconstruction project.

Maduro said to be paying Tehran in bars of gold for gasoline to relieve acute shortages. US president—needing a foreign policy victory such as the dislodging of the strongman ahead of his re-election bid—is reportedly considering his options.

The EU's conclusions on starting negotiations with candidate country North Macedonia include an appendix with long list of Bulgaria's demands including non-recognition of the Macedonian language.

You can almost smell the acrid smoke pouring out of the Turkish economy. But the finance minister has been up on the virtual podium to insist all is well. Curious analysts tuned into his charm offensive.

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Podcasts

Uzbekistan was quick to clamp down as the coronavirus epidemic gathered pace and as Central Asia’s most populous country it had ....

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