Latest Updates

BEYOND THE BOSPORUS: The lira hits the canvas

Turkey's currency dazed at all-time low, but saved by the bell. With dire warnings that a full-blown balance of payments crisis is approaching, banking regulator makes some concessions to international investment banks.

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COMMENT: Belarusian establishment remains monolithic. or does it?

At his address to the nomenklatura, Belarus President Alexander Lukashenko said a remarkable phrase: “I’ll accept any of your decisions. But don’t you dare betray me! Betrayal won't be forgiven even in heaven."

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BEYOND THE BOSPORUS: Burn after reading—MI6 appointment means British, French and US intel services now all headed by Turkish speakers

And let’s not forget… Boris Johnson “is a Turk”, while Dmitry Peskov is a Turkologist.

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TURKEY INSIGHT: With the lira through the looking glass, global finance questions whether Erdogan can sell eurobonds

Robustness of country’s banks also scrutinised with observers fearing a perfect storm scenario ahead of ‘Currency Crisis II’.

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CAUCASUS BLOG: With Aliyev on the rampage, flickering hopes of democracy in Azerbaijan could sputter out

Baku’s intemperate dictator has chosen to go after country’s fragile opposition at a time the major powers are distracted by their own crises and the US can be accused of calling the kettle black.

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Huge crowd turns out in Svetlana Tikhanovskaya’s support rally-concert in Minsk

A rally-concert to support Svetlana Tikhanovskaya, the only remaining candidate of the opposition in the Belarusian presidential race, attracted an enormous crowd of 63,000 people to the Friendship of Peoples park on the outskirts of Minsk.

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COMMENT: The military flare-up along the Armenia-Azerbaijan border is a modern-day James Bond film plot

The outbreak of a fresh military conflict on the Armenian and Azerbaijani border is straight out of a James Bond film and threatens both the region’s and Europe’s energy security among other things

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Misery vs death

The painful choice faced by poorer emerging European countries as they are forced to balance the risk to life of a new coronavirus spike with the economic and human cost of a second lockdown.

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INTERVIEW: The long and painful path to a new normal

Romanian tech entrepreneur Radu Negulescu believes the early reopening of economies post-lockdown is self-defeating and forecasts years of hardship before the global economy finally rebounds.

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Ratings agencies serve warnings to Turkey in lira battle, officials told to stop “muddling through”

VTB Capital sees complications with viability of Tajik eurobond amid weakening sovereign profile

Turkey’s money markets starting to malfunction say analysts with lira back beyond seven-to-dollar

Ratings agencies serve warnings to Turkey in lira battle, officials told to stop “muddling through”

In public, Erdogan shows no sign of listening. Tells reporters: “Turkey is flying, but there are those who are blind to this reality.”

VTB Capital sees complications with viability of Tajik eurobond amid weakening sovereign profile

Significant rainfall reduction in Tajikistan’s Pamir mountains hit country’s hopes for electricity export to Pakistan, perhaps undercutting potential of “TAJIKI bond” financed Roghun hydropower dam project.

Turkey’s money markets starting to malfunction say analysts with lira back beyond seven-to-dollar

Erdogan officials end day still with some measure of control on currency but strategists suggest they may be running out of ammunition.

News

Zelenskiy loses more ground in the polls as his Servant of the People approval falls to 26%

Ukrainian president Volodymyr Zelenskiy’s political party Servant of the People (SOTP) approval ratings in the polls slipped again to 26%, according to a survey by the Ratings Group released on August 6.

Belarusian opposition candidate Tikhanovskaya hijacks government concert after her rally blocked

Leading opposition candidate Svetlana Tikhanovskaya invited her supporters to a government sponsored concert after her rally was blocked and effectively hi-jacked the event

Russian newspaper Kommersant poll finds Tikhanovskaya narrowly beats Lukashenko in presidential election

A poll conducted by Russian newspaper Kommersant found that former housewife and now leading opposition candidate Svetlana Tikhanovskaya will narrowly beat Belarus president Alexander Lukashenko in the presidential election on August 9.

Belarus set to start the Ostrovets NPP within the next few days

Operations at the first unit of the new Belarusian nuclear power plant (NPP) in Ostrovets, near the Belarusian-Lithuanian border, are being launched early and slated to start in the next few days

Iran offers medical aid to Lebanon after devastating Beirut explosion

Latest reports say at least 100 dead, thousands injured and 300,000 made homeless.

Zelenskiy loses more ground in the polls as his Servant of the People approval falls to 26%

1 day ago

Belarusian opposition candidate Tikhanovskaya hijacks government concert after her rally blocked

1 day ago

Russian newspaper Kommersant poll finds Tikhanovskaya narrowly beats Lukashenko in presidential election

2 days ago

Belarus set to start the Ostrovets NPP within the next few days

3 days ago

Iran offers medical aid to Lebanon after devastating Beirut explosion

3 days ago

More News

Tech

Russian startup to bioprint KFC chicken nuggets

3D Bioprinting Solutions, a resident of the Skolkovo Foundation Biomedical Cluster, has tied up with KFC bio-print chick nuggets

Russian recruitment platform HeadHunter goes unicorn, cements $1bn valuation

Online recruitment platform HeadHunter has sealed its position as a $1bn tech company after a new multi-million dollar share deal confirmed the company’s soaring valuation, reports East-West Digital News (EWDN).

Estonia’s e-residency starts making money

Estonia's e-residency programme, which continued its strong growth even during the coronavirus emergency situation, has earned the state €41mn since its launch.

Albania has some of the least affordable internet in the world

Online security specialist Surf Shark measured how much time people need to work to be able to afford an internet connection.

Poland presents its first electric vehicle Izera

ElectroMobility Poland will produce the “reasonably-priced vehicle for an average Pole” from 2023.

Russian startup to bioprint KFC chicken nuggets

8 days ago

Russian recruitment platform HeadHunter goes unicorn, cements $1bn valuation

8 days ago

Estonia’s e-residency starts making money

10 days ago

Albania has some of the least affordable internet in the world

10 days ago

Poland presents its first electric vehicle Izera

10 days ago

More Tech

Opinion

Alaco Dispatches: Western Balkans’ Labour Pains

Foreign investment in the more productive sectors of the west Balkan's economy may be put at risk by skills shortages driven by high levels of migration.

FPRI BMB Ukraine: Russia’s “passportization” of the Donbas

Since the spring of 2014, Russia has handed out nearly 200,000 Russian passports to Ukrainians living in the Donbas and Luhansk “People’s Republics.”

ViennEast Compass: CESEE outlook, planning for new normal

There is no end to the COVID-19 pandemic in sight, but the new normal that will emerge could benefit the countries of Central Eastern and Southeastern Europe (CESEE), due to the new opportunities that will arise.

Kyrgyzstan: Will fury around Askarov death end up signifying nothing?

The activist’s death in prison reflects poorly on the substantial investments that the international community has made into overhauling Kyrgyzstan’s notoriously selective and corrupt justice system.

TURKEY INSIGHT: The lira awakens with a start to face the perennial question. Is it the endgame?

Officials scramble to build new wall to defend currency after it escapes narrow range versus dollar that held sway for two months. Amid jitters, Grand Bazaar free market rates make a return.

Alaco Dispatches: Western Balkans’ Labour Pains

2 days ago

FPRI BMB Ukraine: Russia’s “passportization” of the Donbas

2 days ago

ViennEast Compass: CESEE outlook, planning for new normal

5 days ago

Kyrgyzstan: Will fury around Askarov death end up signifying nothing?

9 days ago

TURKEY INSIGHT: The lira awakens with a start to face the perennial question. Is it the endgame?

10 days ago

More Opinion

Data

Ukraine's international reserves rose to $28.8bn in July

In July 2020, Ukraine's international reserves increased by 1.0% to $28.802bn (in equivalent), the National Bank of Ukraine (NBU) announced on August 7.

Ukraine GDP dropped 6.5% y/y in 1H20, ministry estimates

Ukraine’s real GDP dropped 6.5% y/y in 1H20, deepening from estimated 5.9% y/y decline in 5M20, according to an estimate published on Aug. 6 in the report of the Ministry of Economic Development. In 2Q20, GDP collapsed 11.0% y/y

Rosstat reported that CPI grew 0.4% m/m in July, bringing the annualized inflation rate to 3.4% y/y.

Turkish manufacturing saw sharp expansion in output and new orders July PMI data shows

The growth “will help to claw back some of the output lost” during the pandemic-triggered downturn “but will have to be sustained for a longer period for a full recovery to be secured”, says IHS Markit.

Moscow’s Watcom shopping index almost back to normal as shoppers return to Moscow's malls

Moscow’s Watcom shopping index has recovered almost all of the ground lost during the lockdown in spring as Russian consumers have returned to the top malls in the capital.

Ukraine's international reserves rose to $28.8bn in July

1 day ago

Ukraine GDP dropped 6.5% y/y in 1H20, ministry estimates

1 day ago

Rosstat reported that CPI grew 0.4% m/m in July, bringing the annualized inflation rate to 3.4% y/y.

1 day ago

Turkish manufacturing saw sharp expansion in output and new orders July PMI data shows

4 days ago

Moscow’s Watcom shopping index almost back to normal as shoppers return to Moscow's malls

4 days ago

More Data

Features

Belarus economy increasing well managed, but remains vulnerable to external shocks

Belarus is having a few bad years. GDP grew only by 1.2% in 2019 and will contract by about 5% this year, but its finances are increasingly well run

Tajikistan: Coronavirus brings bonanza of aid, but zero accountability

$300mn has been given and another $70mn may be on the way.

After reopening, Armenian economy continues to struggle

“It was the pandemic that hit the economy hard, not the lockdown itself.”

Armenia gets vote of confidence from RAEX Europe ratings agency despite economic bludgeoning of COVID-19

Most of small nation’s extra debt is related to donor support at concessional terms, says report, while fiscal and monetary policies are adequate. Continued high dependence on imports a drag on economic progress.

As first Friday prayer is held at Hagia Sophia since 1930s observers ask: “Is secularism dead in Turkey?”

Erdogan wants Islamised one-party state says academic.

Belarus economy increasing well managed, but remains vulnerable to external shocks

5 days ago

Tajikistan: Coronavirus brings bonanza of aid, but zero accountability

8 days ago

After reopening, Armenian economy continues to struggle

8 days ago

Armenia gets vote of confidence from RAEX Europe ratings agency despite economic bludgeoning of COVID-19

10 days ago

As first Friday prayer is held at Hagia Sophia since 1930s observers ask: “Is secularism dead in Turkey?”

14 days ago

More Features

Blogs

BALKAN BLOG: Opportunities from supply chain rethink — but can Southeast Europe take advantage?

The move towards localisation — or at least regionalisation — of supply chains has accelerated.

VISEGRAD BLOG: The slow death of Hungary’s independent media

Firing of independent news site Index.hu’s editor-in-chief triggered a mass walkout by journalists, further narrowing the number of free media outlets in Hungary where the landscape is now dominated by PM Viktor Orban's allies.

BALKAN BLOG: Albania’s ailing tourism sector weeps for guests

Day trippers from neighbouring Kosovo and North Macedonia are visiting Albania’s Adriatic coast despite the pandemic, but most stay away from hotels and restaurants.

ISTANBUL BLOG: More dollars required from Turkish lenders in required reserves in latest regulation sandwich

Turkey tinkering with so many banking rules that market players have asked to receive announcements in bundles.

BALTIC BLOG: Estonian Al law lags behind self-driving vehicles

A collision between a passenger vehicle and a self-driving bus in the Estonian capital puzzled the local transportation authority, which was suddenly faced with the questions of how to regulate driverless AI-based traffic and avoid accidents.

BALKAN BLOG: Opportunities from supply chain rethink — but can Southeast Europe take advantage?

6 days ago

VISEGRAD BLOG: The slow death of Hungary’s independent media

12 days ago

BALKAN BLOG: Albania’s ailing tourism sector weeps for guests

17 days ago

ISTANBUL BLOG: More dollars required from Turkish lenders in required reserves in latest regulation sandwich

20 days ago

BALTIC BLOG: Estonian Al law lags behind self-driving vehicles

24 days ago

More Blogs

Latest Updates

News

Ukrainian president Volodymyr Zelenskiy’s political party Servant of the People (SOTP) approval ratings in the polls slipped again to 26%, according to a survey by the Ratings Group released on August 6.

Leading opposition candidate Svetlana Tikhanovskaya invited her supporters to a government sponsored concert after her rally was blocked and effectively hi-jacked the event

A poll conducted by Russian newspaper Kommersant found that former housewife and now leading opposition candidate Svetlana Tikhanovskaya will narrowly beat Belarus president Alexander Lukashenko in the presidential election on August 9.

Operations at the first unit of the new Belarusian nuclear power plant (NPP) in Ostrovets, near the Belarusian-Lithuanian border, are being launched early and slated to start in the next few days

Latest reports say at least 100 dead, thousands injured and 300,000 made homeless.

Tech

3D Bioprinting Solutions, a resident of the Skolkovo Foundation Biomedical Cluster, has tied up with KFC bio-print chick nuggets

Online recruitment platform HeadHunter has sealed its position as a $1bn tech company after a new multi-million dollar share deal confirmed the company’s soaring valuation, reports East-West Digital News (EWDN).

Estonia's e-residency programme, which continued its strong growth even during the coronavirus emergency situation, has earned the state €41mn since its launch.

Online security specialist Surf Shark measured how much time people need to work to be able to afford an internet connection.

ElectroMobility Poland will produce the “reasonably-priced vehicle for an average Pole” from 2023.

Opinion

Foreign investment in the more productive sectors of the west Balkan's economy may be put at risk by skills shortages driven by high levels of migration.

Since the spring of 2014, Russia has handed out nearly 200,000 Russian passports to Ukrainians living in the Donbas and Luhansk “People’s Republics.”

There is no end to the COVID-19 pandemic in sight, but the new normal that will emerge could benefit the countries of Central Eastern and Southeastern Europe (CESEE), due to the new opportunities that will arise.

The activist’s death in prison reflects poorly on the substantial investments that the international community has made into overhauling Kyrgyzstan’s notoriously selective and corrupt justice system.

Officials scramble to build new wall to defend currency after it escapes narrow range versus dollar that held sway for two months. Amid jitters, Grand Bazaar free market rates make a return.

Data

In July 2020, Ukraine's international reserves increased by 1.0% to $28.802bn (in equivalent), the National Bank of Ukraine (NBU) announced on August 7.

Ukraine’s real GDP dropped 6.5% y/y in 1H20, deepening from estimated 5.9% y/y decline in 5M20, according to an estimate published on Aug. 6 in the report of the Ministry of Economic Development. In 2Q20, GDP collapsed 11.0% y/y

Rosstat reported that CPI grew 0.4% m/m in July, bringing the annualized inflation rate to 3.4% y/y.

The growth “will help to claw back some of the output lost” during the pandemic-triggered downturn “but will have to be sustained for a longer period for a full recovery to be secured”, says IHS Markit.

Moscow’s Watcom shopping index has recovered almost all of the ground lost during the lockdown in spring as Russian consumers have returned to the top malls in the capital.

Features

Belarus is having a few bad years. GDP grew only by 1.2% in 2019 and will contract by about 5% this year, but its finances are increasingly well run

$300mn has been given and another $70mn may be on the way.

“It was the pandemic that hit the economy hard, not the lockdown itself.”

Most of small nation’s extra debt is related to donor support at concessional terms, says report, while fiscal and monetary policies are adequate. Continued high dependence on imports a drag on economic progress.

Erdogan wants Islamised one-party state says academic.

Blogs

The move towards localisation — or at least regionalisation — of supply chains has accelerated.

Firing of independent news site Index.hu’s editor-in-chief triggered a mass walkout by journalists, further narrowing the number of free media outlets in Hungary where the landscape is now dominated by PM Viktor Orban's allies.

Day trippers from neighbouring Kosovo and North Macedonia are visiting Albania’s Adriatic coast despite the pandemic, but most stay away from hotels and restaurants.

Turkey tinkering with so many banking rules that market players have asked to receive announcements in bundles.

A collision between a passenger vehicle and a self-driving bus in the Estonian capital puzzled the local transportation authority, which was suddenly faced with the questions of how to regulate driverless AI-based traffic and avoid accidents.

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Belarus president Alexander Lukashenko is facing his most serious challenge of the 26 years in power. Unprecedented protests have ....

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