Latest Updates

BEYOND THE BOSPORUS: The individual called Albayrak rules out stricter capital controls

Ideas appear to be in short supply as the lira plummets towards the depths of despair at a frightening rate.

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Russian crises drive a discount retail boom

Russia’s leading discount store Fix Price’s promise is you can buy anything in the store for RUB199, or about $2.60. And that is just what consumers want as the company reports 15 quarters in a row of double-digit growth

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Ukraine’s ruling Servant of the People Party's honeymoon is over after it loses ground in regional elections to local incumbents

The ruling Servant of the People (SOTP) got hammered in Ukraine’s regional elections over the weekend, where the governorships and mayor’s offices in the main towns were up for grabs.

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Tikhanovskaya’s People’s Ultimatum deadline expires, general strike due to start

The deadline of October 25 expired on Sunday, set by Svetlana Tikhanovskaya as part of the “People’s Ultimatum.” Now a general strike is due to start, the success of which could determine the outcome of Belarus' mass protests.

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COMMENT: Why the Balkan region should be on investors’ radar screens

Despite short-term volatility caused by the pandemic in 1H 2020, the Balkan region could be one of the relative winners globally in the post-COVID era.

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Kaspi on the cusp? Assessing the significance of Kazakh fintech firm's smash stock market debut

Since Russia’s Yandex called off a deal to acquire online bank Tinkoff, the standout IPO of Kazakhstan’s financial technology and e-commerce leader has become the benchmark-setter.

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BRICKS & MORTAR: Residential real estate sales soar on back of the government’s mortgage subsidy programme

The coronacrisis has hit the Russian construction business hard, but residential development is booming thanks to a generous 6.5% subsidised mortgage scheme the government introduced and has just extended for another year.

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COMMENT: Improving sentiment in global markets amidst uncertainty

The global economic recovery continued throughout the quarter, and the OECD now expects world GDP for 2020 to contract by only 4.5%, compared with 6% in their previous forecast from June. Equity markets have done better than expected.

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Russian residential real estate developer Samolet announces IPO price range, shares placed on MOEX ready to trade

The new kid on the Russian listed residential real estate developer’s block, Samolet Group, has announced the price range for an IPO on Moscow Exchange (MOEX). Trading starts on October 29

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Serbian economy to outperform Southeast Europe this year

"Very nice!" Kazakhstan adopts Borat's catchphrase in tourism advertising

French Orano to join $8bn nuclear power plant expansion project in Romania

Serbian economy to outperform Southeast Europe this year

World Bank forecasts Serbia’s economy to shrink by just 3% as it benefits from the Western Balkans’ biggest stimulus package and a low share of tourism in the economy.

"Very nice!" Kazakhstan adopts Borat's catchphrase in tourism advertising

Idea for campaign came from American who lives in Almaty, where he gives walking tours. Expat pitched idea to country’s tourism board and “immediately” got the go-ahead.

French Orano to join $8bn nuclear power plant expansion project in Romania

France will be involved, together with the US and Canada, in the construction of two new reactors at Cernavoda under an $8bn project.

News

North Macedonia, Albania and Serbia to invite Kosovo to join mini-Schengen on October 30

Regional initiative set up to take concrete steps to eliminate obstacles to the free movement of people, goods, services and capital, with the final aim of securing EU membership.

First day of Belarus’ general strike off to mixed start

The first day of a general strike ordered by opposition leader Svetlana Tikhanovskaya got off to a mixed start, with some workers laying down their tools, but the majority of state-owned enterprises were functioning as normal.

Erdogan steps up ‘Islam’ attack on Macron, calls for boycott of French products

EU leaders get behind France’s president. Turkish leader strongly supported by Pakistan but Iran outlines its position with caution.

Poland reportedly preparing for second full lockdown to kick in later this week

The number of new coronavirus cases has been above 10,000 a day since October 21 with forecasts now warning of 20,000 daily cases by the end of this week.

Istanbul’s mayor contracts virus as row grows over government’s “big lie” on outbreak data

Turkey still declines to report asymptomatic COVID-19 cases, meaning reliably assessing extent of pandemic in country on an international comparison is not possible.

North Macedonia, Albania and Serbia to invite Kosovo to join mini-Schengen on October 30

23 hours ago

First day of Belarus’ general strike off to mixed start

1 day ago

Erdogan steps up ‘Islam’ attack on Macron, calls for boycott of French products

1 day ago

Poland reportedly preparing for second full lockdown to kick in later this week

1 day ago

Istanbul’s mayor contracts virus as row grows over government’s “big lie” on outbreak data

1 day ago

More News

Tech

Lithuania's first tech unicorn Vinted takes over Dutch competitor United Wardrobe

The merged group will bring together over 34mn users in Europe, which will help accelerate its expansion into new markets.

US signs MoUs on 5G cyber security protection with three SEE states

Bulgaria, Kosovo and North Macedonia have become members of the US' “Clean Network” initiative.

Three-year-old Riga-based fintech firm posts enviable €100mn turnover

Sun Finance has reported a record-high turnover of €101.5mn for 2019, and expects a strong 2020 despite the pandemic.

Yandex acquires context ad platform K50

Yandex, the NASDAQ-listed Russian Internet giant, is acquiring K50. This is a full acquisition and an exit for the company’s shareholders, which include AddVenture Capital and the management.

Baring Vostok and Goldman Sachs acquire stake in major Russian financial and insurance portal

Russian billionaire Oleg Tinkov has sold his stake Sravni.ru, a major Russian finance and insurance marketplace, to Baring Vostok and Goldman Sachs

Lithuania's first tech unicorn Vinted takes over Dutch competitor United Wardrobe

17 hours ago

US signs MoUs on 5G cyber security protection with three SEE states

4 days ago

Three-year-old Riga-based fintech firm posts enviable €100mn turnover

4 days ago

Yandex acquires context ad platform K50

2 days ago

Baring Vostok and Goldman Sachs acquire stake in major Russian financial and insurance portal

2 days ago

More Tech

Opinion

COLCHIS: Georgia’s Karabakh conundrum

As the death toll mounts among both Armenians and Azeris in the disputed region of Nagorno-Karabakh, the situation in nearby Georgia feels a million miles away. In the throes of both a parliamentary election and a growing Covid-19 epidemic, the fact

FPRI BMB Ukraine: KIIS’ survey of Ukraine’s perceptions of parties and politicians

From October 8–15, the Kyiv International Institute of Sociology (KIIS) conducted a nationwide poll asking Ukrainians about the state of the country and their perceptions of its parties and politicians.

STOLYPIN: If Lavrov goes, can we hope for better from Russia’s diminished foreign ministry?

Is Foreign Minister Sergei Lavrov’s time really up? And if so, will this free the Ministry of Foreign Affairs (MID) from the last vestiges of diplomacy, or allow it to regain some of the relevance it has lost since 2014?

COMMENT: What did Hunter Biden do in Ukraine and why was he hired?

Why, specifically, in the early part of 2014 not long after the end of the Revolution of Dignity, was Hunter Biden asked to join the Burisma board of directors? Why did Burisma retain the services of Boies Schiller, and what did Boies Schiller do?

FPRI BMB Ukraine: Zelenskiy launches poll ahead of regional elections in controversial move that captures news agenda

Ukrainian President Volodymyr Zelenskiy announced on October 14 plans to conduct a five-question poll during the upcoming elections on October 25. Unlike a referendum, the results of this poll will not be legally binding.

COLCHIS: Georgia’s Karabakh conundrum

6 days ago

FPRI BMB Ukraine: KIIS’ survey of Ukraine’s perceptions of parties and politicians

6 days ago

STOLYPIN: If Lavrov goes, can we hope for better from Russia’s diminished foreign ministry?

6 days ago

COMMENT: What did Hunter Biden do in Ukraine and why was he hired?

8 days ago

FPRI BMB Ukraine: Zelenskiy launches poll ahead of regional elections in controversial move that captures news agenda

12 days ago

More Opinion

Data

Lira sinks past 8 per dollar as Erdogan serves up more economic and geopolitical malarkey

Worst losing streak since 1999. Goading of EU leaders and daring US to hit Ankara with sanctions not helping amid the economic indigestion.

COMMENT: Russia's economy recovered slowly in September as real disposable incomes fall again

Economic development was mainly supported by the service sector and primary production, but their recovery also slowed in September, as real disposable incomes go negative again

Russia's CBR keeps key interest rate flat

The board of the Central Bank of Russia (CBR) at the second last policy meeting of 2020 on October 23 resolved to keep the key interest rate unchanged at 4.25%, in line with expectations.

Estonia's government debt still lowest in EU

The government debt to GDP ratio for Estonia was 18.5% at the end of 2Q20, which was the lowest among the EU’s member states.

Poland’s retail sales accelerate growth in September but recovery might be short-lived

Strong rebound for the sector in Q3 was followed by hike in new COVID-19 cases and tightening of containment measures.

Lira sinks past 8 per dollar as Erdogan serves up more economic and geopolitical malarkey

1 day ago

COMMENT: Russia's economy recovered slowly in September as real disposable incomes fall again

4 days ago

Russia's CBR keeps key interest rate flat

4 days ago

Estonia's government debt still lowest in EU

5 days ago

Poland’s retail sales accelerate growth in September but recovery might be short-lived

6 days ago

More Data

Features

Russia’s regions face a fresh debt crisis as they struggle to cope with the coronavirus pandemic

After a near-miss debt crisis in 2015-16 Russia’s Ministry of Finance took direct control of the worst cases. But now the finances all Russia's regions are under pressure again as they struggle to cope with the corona-shock and soaring costs.

The billionaires club, where the mega-wealthy go to meet each other

It's a lonely life being a billionaire. Seriously. There are not many of them, so where do you go to meet the others? Prestel & Partner have set up a conference where you can find dozens of billionaires hanging out and come to socialise with peers

Russian equity market on hold until US elections pass

Russia's equity markets are trading sideways as investors wait for the US presidential elections to pass, but some investors are already taking positions in the blue chips in anticipation of a mini-re-rating that could happen afterwards.

Amid war, Armenians closely watching the signals from Russia

The messaging from Moscow has been pro-Armenia but critical of its government. And some Armenians are questioning their leaders’ flirtation, as mild as it’s been, with the West.

TURKEY INSIGHT: Hospital building consortium latest creditor to go for a high stakes restructuring

Talks on €900mn of loans proceed as country’s shocking pile of debt across fields including construction, energy, conglomerates and now tourism mounts up.

Russia’s regions face a fresh debt crisis as they struggle to cope with the coronavirus pandemic

1 day ago

The billionaires club, where the mega-wealthy go to meet each other

7 days ago

Russian equity market on hold until US elections pass

5 days ago

Amid war, Armenians closely watching the signals from Russia

11 days ago

TURKEY INSIGHT: Hospital building consortium latest creditor to go for a high stakes restructuring

13 days ago

More Features

Blogs

BEYOND THE BOSPORUS: Erdogan goes back to his ‘goofy movie’ routine as his central bankers hold rates

Actually, it’s a whole lot more serious than that for ordinary Turks suffering the vicissitudes of this elective dictator on the edge of the economic precipice. But watching the markets get confounded again has to have some comedy value.

ISTANBUL BLOG: Market makers cranking the “positive headlines” machine ahead of expected rate hike

Hit-and-run opportunities there may be. But even Turkish kids on the block would tell you Turkey’s official inflation rate is fake. Who wants to put that in their pipe of analysis and smoke it?

ISTANBUL BLOG: Erdogan, Trudeau and the killer drones

By banning military technology exports under pressure from campaigners, Canada’s PM has thrown a wrench in the works of Turkey’s drone programme. But regimes everywhere know there is no consistency in this morality, perhaps Erdogan's most of all.

BEYOND THE BOSPORUS: Erdogan fires his Russian missiles into a fog of confusion

Move may suggest Turkey’s leader is giving up on his pal clinging on to 1600 Pennsylvania Avenue and is exploiting the US’ present preoccupation with itself to get ahead of the game.

MOSCOW BLOG: Kremlin launches charm offensive ahead of looming Biden victory in US elections, end of the START missile treaty

Russia is suddenly making nice with its foes, as the Kremlin seems to be launching a charm offensive ahead of the increasingly likely victory in the US presidential elections of Joe Biden.

BEYOND THE BOSPORUS: Erdogan goes back to his ‘goofy movie’ routine as his central bankers hold rates

5 days ago

ISTANBUL BLOG: Market makers cranking the “positive headlines” machine ahead of expected rate hike

6 days ago

ISTANBUL BLOG: Erdogan, Trudeau and the killer drones

8 days ago

BEYOND THE BOSPORUS: Erdogan fires his Russian missiles into a fog of confusion

10 days ago

MOSCOW BLOG: Kremlin launches charm offensive ahead of looming Biden victory in US elections, end of the START missile treaty

12 days ago

More Blogs

Latest Updates

News

Regional initiative set up to take concrete steps to eliminate obstacles to the free movement of people, goods, services and capital, with the final aim of securing EU membership.

The first day of a general strike ordered by opposition leader Svetlana Tikhanovskaya got off to a mixed start, with some workers laying down their tools, but the majority of state-owned enterprises were functioning as normal.

EU leaders get behind France’s president. Turkish leader strongly supported by Pakistan but Iran outlines its position with caution.

The number of new coronavirus cases has been above 10,000 a day since October 21 with forecasts now warning of 20,000 daily cases by the end of this week.

Turkey still declines to report asymptomatic COVID-19 cases, meaning reliably assessing extent of pandemic in country on an international comparison is not possible.

Tech

The merged group will bring together over 34mn users in Europe, which will help accelerate its expansion into new markets.

Bulgaria, Kosovo and North Macedonia have become members of the US' “Clean Network” initiative.

Sun Finance has reported a record-high turnover of €101.5mn for 2019, and expects a strong 2020 despite the pandemic.

Yandex, the NASDAQ-listed Russian Internet giant, is acquiring K50. This is a full acquisition and an exit for the company’s shareholders, which include AddVenture Capital and the management.

Russian billionaire Oleg Tinkov has sold his stake Sravni.ru, a major Russian finance and insurance marketplace, to Baring Vostok and Goldman Sachs

Opinion

As the death toll mounts among both Armenians and Azeris in the disputed region of Nagorno-Karabakh, the situation in nearby Georgia feels a million miles away. In the throes of both a parliamentary election and a growing Covid-19 epidemic, the fact

From October 8–15, the Kyiv International Institute of Sociology (KIIS) conducted a nationwide poll asking Ukrainians about the state of the country and their perceptions of its parties and politicians.

Is Foreign Minister Sergei Lavrov’s time really up? And if so, will this free the Ministry of Foreign Affairs (MID) from the last vestiges of diplomacy, or allow it to regain some of the relevance it has lost since 2014?

Why, specifically, in the early part of 2014 not long after the end of the Revolution of Dignity, was Hunter Biden asked to join the Burisma board of directors? Why did Burisma retain the services of Boies Schiller, and what did Boies Schiller do?

Ukrainian President Volodymyr Zelenskiy announced on October 14 plans to conduct a five-question poll during the upcoming elections on October 25. Unlike a referendum, the results of this poll will not be legally binding.

Data

Worst losing streak since 1999. Goading of EU leaders and daring US to hit Ankara with sanctions not helping amid the economic indigestion.

Economic development was mainly supported by the service sector and primary production, but their recovery also slowed in September, as real disposable incomes go negative again

The board of the Central Bank of Russia (CBR) at the second last policy meeting of 2020 on October 23 resolved to keep the key interest rate unchanged at 4.25%, in line with expectations.

The government debt to GDP ratio for Estonia was 18.5% at the end of 2Q20, which was the lowest among the EU’s member states.

Strong rebound for the sector in Q3 was followed by hike in new COVID-19 cases and tightening of containment measures.

Features

After a near-miss debt crisis in 2015-16 Russia’s Ministry of Finance took direct control of the worst cases. But now the finances all Russia's regions are under pressure again as they struggle to cope with the corona-shock and soaring costs.

It's a lonely life being a billionaire. Seriously. There are not many of them, so where do you go to meet the others? Prestel & Partner have set up a conference where you can find dozens of billionaires hanging out and come to socialise with peers

Russia's equity markets are trading sideways as investors wait for the US presidential elections to pass, but some investors are already taking positions in the blue chips in anticipation of a mini-re-rating that could happen afterwards.

The messaging from Moscow has been pro-Armenia but critical of its government. And some Armenians are questioning their leaders’ flirtation, as mild as it’s been, with the West.

Talks on €900mn of loans proceed as country’s shocking pile of debt across fields including construction, energy, conglomerates and now tourism mounts up.

Blogs

Actually, it’s a whole lot more serious than that for ordinary Turks suffering the vicissitudes of this elective dictator on the edge of the economic precipice. But watching the markets get confounded again has to have some comedy value.

Hit-and-run opportunities there may be. But even Turkish kids on the block would tell you Turkey’s official inflation rate is fake. Who wants to put that in their pipe of analysis and smoke it?

By banning military technology exports under pressure from campaigners, Canada’s PM has thrown a wrench in the works of Turkey’s drone programme. But regimes everywhere know there is no consistency in this morality, perhaps Erdogan's most of all.

Move may suggest Turkey’s leader is giving up on his pal clinging on to 1600 Pennsylvania Avenue and is exploiting the US’ present preoccupation with itself to get ahead of the game.

Russia is suddenly making nice with its foes, as the Kremlin seems to be launching a charm offensive ahead of the increasingly likely victory in the US presidential elections of Joe Biden.

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