Latest Updates

Turkey Insight: Not weak at the knees yet? Credit default swaps just hit 520

Global markets are pricing in a Turkish default. The Erdogan administration is fixated on its pre-election stimulus and flattering Trump. The IMF says it ain’t had a call. And the IIF quite frankly is saying WTF?

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ANALYSIS: Turkey’s net FX reserves excluding swaps hit minus as of May 17

bne IntelliNews’ calculations show the precarious situation the central bank faces as the unrelenting battle to defend the lira takes an alarming toll. No wonder Turks fear for their hard currency savings.

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KYIV BLOG: Zelenskiy is fashioning a cudgel of authority from the wisps of legitimacy

After only minutes on the job and with no formal party structure behind him, nor any representation in either the parliament or state organs, Ukrainian President Volodymyr Zelenskiy's first act was to dismiss the Verkhovna Rada.

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Why are Russian stocks so cheap?

Investors into Russian stocks have almost given up seeing any of the cash the country’s leading companies generate. Valuations are in the basement, as investors don't believe the management will share their billions of dollars in revenue.

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ISTANBUL BLOG: Talk of a Turkey default grows as spooked investors ask ‘What comes next?’

Ankara is running out of options in its fight to defend the lira and raise capital.

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Voters prepare to punish their ruling parties in European Parliament elections

Following domestic political scandals in several Central and Southeast European member states, many voters just want to give their ruling parties a kicking in this week's EU-wide vote.

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MACRO ADVISORY: Uzbekistan Terraforming: Privatization is the next stage

Since the election of Shavkat Mirziyoyev in December 2016, Uzbekistan has been on a fast-track programme to transform what was, for the previous 25 years, a no-go investment zone. Privatisation is the next step.

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COMMENT: Russian offshore? Not so fast...

The two offshore zones established in Russia last August for the purposes of tempting foreign-based Russian businesses back to the Motherland have yet to catch on.

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COMMENT: Russia’s GDP growth slows in 1Q19, challenging the policy framework

Russian GDP growth slowed from 2.7% year on year in 4Q18 to just 0.5% y/y in 1Q19, well below expectations. Unlike most commentators, we attribute this slowdown to a pause in the state CAPEX rather than to the VAT hike.

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European election in Poland a warm-up ahead of national vote

Launch of “Operation Broom” cleanup in North Macedonia marred by MP drug scandal

Yields on Russian OFZ sovereign treasury bills fall to 9-month lows as foreign demand rises

European election in Poland a warm-up ahead of national vote

Political parties have been doing their utmost to rally voters for the Sunday vote in hope that a good result will set off a wave on which they will ride to a victorious night this autumn, when the national election takes place.

Launch of “Operation Broom” cleanup in North Macedonia marred by MP drug scandal

PM Zoran Zaev pledged to sack party and government officials who have performed poorly after voters punished the ruling coalition’s candidate for the government’s domestic failings in the recent presidential election.

Yields on Russian OFZ sovereign treasury bills fall to 9-month lows as foreign demand rises

Russian Ministry of Finance ruble-denominated OFZ treasury bills were trading close to their highest levels in nearly two years in the first weeks of May.

News

Officials from nations “representing US” visited Iran says Iranian national security spokesman

“Message of power and resistance of Iranian nation was conveyed to them”. Ex-British navy chief, meanwhile, cautions Americans would need million or more soldiers to occupy Iran. Warns of Iraq War-style quagmire.

New Ukraine president under fire for proposal of referendum on peace with Russia

The team of Ukrainian President Volodymyr Zelenskiy is considering holding a referendum on concluding agreements with Russia to bring peace in the Donbas war, head of the presidential staff Andriy Bohdan said on May 21.

Ukraine's PrivatBank launches legal battle against its former owners in US court

Ukraine's PrivatBank, nationalised in late 2016, has instituted legal proceedings against its former owners, Ihor Kolomoisky and Gennadiy Bogolyubov, as well as "other individuals and companies", before a Court in Delaware in the US

Kosovo considers extending 100% tariffs to Albanian products

Punitive tariffs already imposed on imports from Bosnia and Serbia could be extended to Kosovo’s closest ally Albania if it fails to remove barriers on Kosovan flour, beer and potatoes.

Moldova’s president asks Constitutional Court’s permission to dissolve parliament

Snap elections have become the baseline scenario in Moldova as none of the three major forces in the parliament managed to form a government after the February general election.

Officials from nations “representing US” visited Iran says Iranian national security spokesman

1 day ago

New Ukraine president under fire for proposal of referendum on peace with Russia

1 day ago

Ukraine's PrivatBank launches legal battle against its former owners in US court

1 day ago

Kosovo considers extending 100% tariffs to Albanian products

2 days ago

Moldova’s president asks Constitutional Court’s permission to dissolve parliament

1 day ago

More News

Tech

Zelenskiy launches his e-government concept "country in a smartphone"

Ukrainian President Volodymyr Zelenskiy says the "country in a smartphone" concept will make up for Ukraine's lag in e-government development.

Russia’s state-owned tech agency claims its first unicorn

Russia nanotube producer OCSiAl's valuation topped $1bn, making it Rosnano's first unicorn — but a high-profile economist has challenged the claim.

Number of online shoppers close to 5.4mn in Hungary

Online sales in Hungary are growing at a pace three-fold that of retail sales, around 17-18%, and accounted for 4.5% of total retail sales turnover last year, eNet found.

Rostec Embarks on Massive IoT Project

GLONASS-TM will build a 53bn ruble ($811mn) federal network for Internet of Things (IoT) in a bid to secure presence in the segment expected to boom over the next few years

Latvia-China e-commerce hub launched in Riga

The hub is expected to promote economic cooperation between China and Latvia, which could reach €1bn in the coming years, a Latvian government official said.

Zelenskiy launches his e-government concept "country in a smartphone"

17 hours ago

Russia’s state-owned tech agency claims its first unicorn

1 day ago

Number of online shoppers close to 5.4mn in Hungary

1 day ago

Rostec Embarks on Massive IoT Project

14 days ago

Latvia-China e-commerce hub launched in Riga

2 days ago

More Tech

Opinion

COMMENT: Russia keeps accumulating foreign assets, sales of OFZ bonds driving exchange rate

April balance of payments confirms the corporate preference to convert export proceeds into international assets, making foreign inflows into local state bonds the only support factor for the ruble exchange rate

COMMENT: Russia's controversial sovereign internet bill will stoke the very protests it is designed to quell

Russian President Vladimir Putin on May 1 signed the controversial sovereign internet bill into law. It will come into force November 1 despite the concern, confusion and even ridicule on show during its State Duma readings.

COMMENT: Technology can reduce the global plastic pollution problem

Annual global production of plastics has increased dramatically, from 15mn metric tons in 1964 to over 350mn metric tons now, however, a new technology can break down polymers and effectively recycle them

ANALYSIS: Trump offers talks after parking B-52s and aircraft carrier on Iran’s doorstep. Spot the “rogue nation”

Revolutionary Guard says no negotiations will be held with “unreliable Americans”. Adds US “will not dare take military action against us”.

COLCHIS: Zelenskiy faces tough choices amidst high expectations

Zelenskiy is allegedly supported by powerful Ukrainian oligarch and Poroshenko’s arch-rival Igor Kolomoyskiy. Ukrainian voters obviously believed that Zelenskiy was the lesser of two evils. What went into making that choice?

COMMENT: Russia keeps accumulating foreign assets, sales of OFZ bonds driving exchange rate

4 days ago

COMMENT: Russia's controversial sovereign internet bill will stoke the very protests it is designed to quell

11 days ago

COMMENT: Technology can reduce the global plastic pollution problem

11 days ago

ANALYSIS: Trump offers talks after parking B-52s and aircraft carrier on Iran’s doorstep. Spot the “rogue nation”

14 days ago

COLCHIS: Zelenskiy faces tough choices amidst high expectations

16 days ago

More Opinion

Data

Lithuanian industrial production more than doubles y/y growth rate in April

The adjusted annual growth in April owes to production expanding 14% y/y in the most-weighted manufacturing segment, compared to a growth of 7% y/y the preceding month.

Polish retail sales rebound in April

The pick-up owes to the calendar effect, with sales spiking because of Easter but also to Polish households’ general inclination towards increased consumption, driven by the good situation on the labour market – low unemployment and growing wages.

Russia's industrial output growth jumps in April on flawed data

Russia's industrial output growth in April 2019 jumped to 4.9% year-on-year after 1.2% growth in March, according to the latest data by Rosstat statistics agency. Russia on track to finish the year with 2.3% industrial production growth

Polish industrial production growth takes off in April

The headline figure attests to the Polish industrial sector’s stubbornness to give in to negative trends in the external environment, especially the slowdown of activity in Germany, Poland's largest trading partner.

Ukraine's retail trade growth accelerates to 9.1% y/y in April

Retail trade increased 9.1% y/y in real terms in April, slightly accelerating from 8.9% y/y in March

Lithuanian industrial production more than doubles y/y growth rate in April

1 day ago

Polish retail sales rebound in April

1 day ago

Russia's industrial output growth jumps in April on flawed data

1 day ago

Polish industrial production growth takes off in April

2 days ago

Ukraine's retail trade growth accelerates to 9.1% y/y in April

2 days ago

More Data

Features

Progress made towards creating of Russia's 5G network

Russia has made another step towards launching the fifth generation of cellular mobile communications (5G), as state-controlled telecoms operator Rostelecom transferred companies that tested the relevant technology to its subsidiary, Bashinformsvyaz.

BRICKS & MORTAR: Russian real estate market getting back on its feet

Russia’s real estate market is back in play after investment rose by 30% y/y in the first quarter of this year, reports JLL – the best result in the last three years.

VOX: Moldova's banking sector turns the corner

Following the shock of the $1bn stolen from the banking sector in 2014 the government has got its act together and is transforming the business, with some help from the EBRD.

Political fighting intensifies in Poland as film documenting Catholic clergy's abuse of kids goes viral to millions

The film’s skyrocketing popularity has forced political leaders take positions on the issue as the campaign for the European Parliament elections heats up.

War, huh… What is it good for?

Trump and Iran’s Khamenei were on May 14 among many taking on the question of whether a military showdown between the US and the Islamic Republic is on the cards.

Progress made towards creating of Russia's 5G network

14 days ago

BRICKS & MORTAR: Russian real estate market getting back on its feet

9 days ago

VOX: Moldova's banking sector turns the corner

14 days ago

Political fighting intensifies in Poland as film documenting Catholic clergy's abuse of kids goes viral to millions

9 days ago

War, huh… What is it good for?

10 days ago

More Features

Blogs

MOSCOW BLOG: Can Russia halve its poverty level?

President Putin unveiled a very ambitious reform plan during his state of the nation speech on March 1 last year. Among the ambitious goals — some say unattainable goals — the president called for a drastic reduction in poverty.

VISEGRAD BLOG: Poland shocked by film documenting Catholic clergy’s sexual abuse of children

“Just Don’t Tell Anyone” neared 6mn views just 36 hours after its premiere on YouTube, shaking up Poland's political landscape ahead of the European Parliament elections.

TEHRAN BLOG: As US hawks go for its jugular, Iran issues gentle ultimatum to Europe

Iranians place a slow-ticking time bomb under nuclear deal but hand Europeans very clear instructions on how to defuse it.

BALKAN BLOG: Montenegro braces for verdicts in "Trial of the century"

As the coup plot trial that has gripped the Montenegrin nation nears its end, the opposition Democratic Front is preparing to defend its leaders from police arrest.

TEHRAN BLOG: Iran ‘set to scale down nuclear deal undertakings’ as US cranks up pressure on multiple fronts

Washington’s assault on oil exports and civilian nuclear energy, designation of elite Iranian troops as “terrorist” and dispatch of an aircraft carrier drawing a response from Tehran.

MOSCOW BLOG: Can Russia halve its poverty level?

11 days ago

VISEGRAD BLOG: Poland shocked by film documenting Catholic clergy’s sexual abuse of children

11 days ago

TEHRAN BLOG: As US hawks go for its jugular, Iran issues gentle ultimatum to Europe

16 days ago

BALKAN BLOG: Montenegro braces for verdicts in "Trial of the century"

17 days ago

TEHRAN BLOG: Iran ‘set to scale down nuclear deal undertakings’ as US cranks up pressure on multiple fronts

18 days ago

More Blogs

Latest Updates

News

“Message of power and resistance of Iranian nation was conveyed to them”. Ex-British navy chief, meanwhile, cautions Americans would need million or more soldiers to occupy Iran. Warns of Iraq War-style quagmire.

The team of Ukrainian President Volodymyr Zelenskiy is considering holding a referendum on concluding agreements with Russia to bring peace in the Donbas war, head of the presidential staff Andriy Bohdan said on May 21.

Ukraine's PrivatBank, nationalised in late 2016, has instituted legal proceedings against its former owners, Ihor Kolomoisky and Gennadiy Bogolyubov, as well as "other individuals and companies", before a Court in Delaware in the US

Punitive tariffs already imposed on imports from Bosnia and Serbia could be extended to Kosovo’s closest ally Albania if it fails to remove barriers on Kosovan flour, beer and potatoes.

Snap elections have become the baseline scenario in Moldova as none of the three major forces in the parliament managed to form a government after the February general election.

Tech

Ukrainian President Volodymyr Zelenskiy says the "country in a smartphone" concept will make up for Ukraine's lag in e-government development.

Russia nanotube producer OCSiAl's valuation topped $1bn, making it Rosnano's first unicorn — but a high-profile economist has challenged the claim.

Online sales in Hungary are growing at a pace three-fold that of retail sales, around 17-18%, and accounted for 4.5% of total retail sales turnover last year, eNet found.

GLONASS-TM will build a 53bn ruble ($811mn) federal network for Internet of Things (IoT) in a bid to secure presence in the segment expected to boom over the next few years

The hub is expected to promote economic cooperation between China and Latvia, which could reach €1bn in the coming years, a Latvian government official said.

Opinion

April balance of payments confirms the corporate preference to convert export proceeds into international assets, making foreign inflows into local state bonds the only support factor for the ruble exchange rate

Russian President Vladimir Putin on May 1 signed the controversial sovereign internet bill into law. It will come into force November 1 despite the concern, confusion and even ridicule on show during its State Duma readings.

Annual global production of plastics has increased dramatically, from 15mn metric tons in 1964 to over 350mn metric tons now, however, a new technology can break down polymers and effectively recycle them

Revolutionary Guard says no negotiations will be held with “unreliable Americans”. Adds US “will not dare take military action against us”.

Zelenskiy is allegedly supported by powerful Ukrainian oligarch and Poroshenko’s arch-rival Igor Kolomoyskiy. Ukrainian voters obviously believed that Zelenskiy was the lesser of two evils. What went into making that choice?

Data

The adjusted annual growth in April owes to production expanding 14% y/y in the most-weighted manufacturing segment, compared to a growth of 7% y/y the preceding month.

The pick-up owes to the calendar effect, with sales spiking because of Easter but also to Polish households’ general inclination towards increased consumption, driven by the good situation on the labour market – low unemployment and growing wages.

Russia's industrial output growth in April 2019 jumped to 4.9% year-on-year after 1.2% growth in March, according to the latest data by Rosstat statistics agency. Russia on track to finish the year with 2.3% industrial production growth

The headline figure attests to the Polish industrial sector’s stubbornness to give in to negative trends in the external environment, especially the slowdown of activity in Germany, Poland's largest trading partner.

Retail trade increased 9.1% y/y in real terms in April, slightly accelerating from 8.9% y/y in March

Features

Russia has made another step towards launching the fifth generation of cellular mobile communications (5G), as state-controlled telecoms operator Rostelecom transferred companies that tested the relevant technology to its subsidiary, Bashinformsvyaz.

Russia’s real estate market is back in play after investment rose by 30% y/y in the first quarter of this year, reports JLL – the best result in the last three years.

Following the shock of the $1bn stolen from the banking sector in 2014 the government has got its act together and is transforming the business, with some help from the EBRD.

The film’s skyrocketing popularity has forced political leaders take positions on the issue as the campaign for the European Parliament elections heats up.

Trump and Iran’s Khamenei were on May 14 among many taking on the question of whether a military showdown between the US and the Islamic Republic is on the cards.

Blogs

President Putin unveiled a very ambitious reform plan during his state of the nation speech on March 1 last year. Among the ambitious goals — some say unattainable goals — the president called for a drastic reduction in poverty.

“Just Don’t Tell Anyone” neared 6mn views just 36 hours after its premiere on YouTube, shaking up Poland's political landscape ahead of the European Parliament elections.

Iranians place a slow-ticking time bomb under nuclear deal but hand Europeans very clear instructions on how to defuse it.

As the coup plot trial that has gripped the Montenegrin nation nears its end, the opposition Democratic Front is preparing to defend its leaders from police arrest.

Washington’s assault on oil exports and civilian nuclear energy, designation of elite Iranian troops as “terrorist” and dispatch of an aircraft carrier drawing a response from Tehran.

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Romania has been growing very fast in recent years and GDP per capita has doubled. But that growth is about to slow and while inco....

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