Serbia declares state of emergency in Belgrade as coronavirus cases spike

The country has reported a significant rise of new confirmed cases with around 80% of them in Belgrade in the last few days.

Governor Smolii’s departure from the NBU creates the risk of devaluation of the hyrvnia or default on its debt this year

Ukraine’s Rada rapidly accepted the resignation of Governor of the National Bank of Ukraine (NBU) Yakiv Smolii on July 3, completing the process of his departure from the central bank. But his departure creates danger of devaluation or default

Croatia heads for hung parliament in July 5 election

Croatia’s general election is virtually certain to end in a hung parliament, but the main parties will be under heavy pressure to form a new government quickly as COVID-19 cases rise.

Czech PM Babis earned "pocket money" of €3.4mn from Agrofert in 2019

Compulsory income declaration shows money Babis received from the company at the heart of an EU subsidies scandal.

Ukraine cancels dollar bond sale after NBU governor resigns

Ukraine cancelled a planned offering of dollar-denominated Eurobonds after Yakiv Smolii stepped down as NBU governor citing a “systematic” campaign against the central bank.

Bank of Lithuania to become first eurozone bank to issue digital coin

The Lithuanian central bank was one of many to be looking at how they might issue their own digital currencies as the use of cash declines – a process speeded up by the COVID-19 pandemic.

InoBat Auto raises €10mn from CEZ for EV battery facility

Funding will be used for InoBat Auto’s €100mn EV battery R&D facility and production line as it prepares to become the first European supplier of customised EV batteries.

Austria’s S&T buys Slovenian telecoms equipment company Iskratel

S&T says Iskratel's work in the IIoT software and 5G areas will strengthen its product portfolio.

Payment platform Paysera enters Kosovan market

Paysera Kosovo obtains the country's first Electronic Money Institution (EMI) licence, plans to cut cost of money transfers between Kosovo and EU countries.

Shoppers in Belarus get access to New Zealand's coronavirus tracking app

As businesses re-open their doors across Belarus, they have help from a contact-tracing app based on New Zealand’s successful coronavirus (COVID-19) Tracer app, Kontakkt Space, it was announced in a press release on June 24.

COMMENT: Yanukovych’s “Own Goal;” Zelenskiy’s “Lesson Learned”

In September 2013, at the Annual “YES” Conference in Yalta, former President Yanukovych said: ”We have to move toward European integration,” causing participants to dance on the beach. He didn't do it and sparked the Maidan revolution

BEYOND THE BOSPHORUS: Tobin tax means it’s back to the good old money changing days at Istanbul’s Grand Bazaar

Prying officials also driving business clients away from banks.

TURKEY INSIGHT: Morgan Stanley warns Turks MSCI Frontier Markets status may be around corner

At the same time, ING discordantly claims it senses possible turning point for foreigners’ interest in Turkish bonds.

COMMENT: Lukashenko’s penultimate elections

President Alexander Lukashenko’s Belarus has long been a success story in the post-Soviet world, but now he is in trouble facing country-wide protests. He will probably win the August elections, but how long can he hang on to power?

BEYOND THE BOSPHORUS: Erdogan becomes top shareholder in Turkcell

Telia seen as selling stake at less than 50% of market value. Analyst asks: “How did a partly Swedish-state-owned co get so deeply embroiled in Turkey’s authoritarian decline?”

Net foreign direct investment leaving Ukraine in 1Q20

There was a net outflow of foreign direct investment (FDI) from Ukraine in the first quarter of this year of $1,451mn, reversing the trend of inflows of the last several years, according to data from Ukrstat.

Russia Services PMI bounces back to 47.8 in June, up from 35.9 in May

The seasonally adjusted IHS Markit Russia Services Business Activity Index registered 47.8 at the end of the second quarter, up notably from 35.9 in May, Markit said in a press release on July 3.

Croatia to be among countries worst hit by tourism collapse this year, says UNCTAD

Global tourism sector set to lose between $1.2 trillion and $3.3 trillion depending how long travel restrictions last, the UN’s trade and development body forecast.

Russians, Serbians, Turks the biggest property buyers in Montenegro

Foreigners bought €169.99mn of property in the tiny Adriatic country in 2019.

Polish PMI advances but remains below 50 points as restrictions lifted

IHS Markit points to the challenging business environment in the manufacturing sector as demand and capacity utilisation remained weak amid the ongoing coronavirus crisis.

Profits of Ukraine’s banks still ahead of last year, but first signs of crisis impact visible

Suma Chakrabati leaves the EBRD a greener bank

Green financing reached close to 50% of the EBRD’s volume of investment in 2019, but as he leaves the bank Chakrabati warns of the need to put the green economy at the heart of the post-COVID recovery.

Leading Czech aviation specialist turns to high-tech respirator production

It's a sort of coronacrisis-inspired version of the swords to ploughshares story. WPA, the Czech Republic’s leading aircraft component supplier, has turned its high-tech production skills to producing high-quality respirators

Armenia seeks security forces reorganisation

Behind the unexplained recent firings is a push to put the security services under greater civilian control.

Global pandemic is boon for ESG funds, outperforming their brown peers

The coronavirus (COVID-19) pandemic has been a boon for environmental, social and governance (ESG) funds, 85% of which are now outperforming their non-ESG peers, according to a paper released by the Institute of International Finance (IIF)

BALKAN BLOG: Anyone for COVID?

Adria Tour fiasco shows how not to relaunch sporting events during a pandemic — and gives the Croatian opposition ammunition against PM Andrej Plenkovic ahead of next week’s general election.

VISEGRAD BLOG: Poland’s illiberals facing their make or break moment this Sunday

President Andrzej Duda's reelection seemed like a formality but is now in doubt after missteps such as an attack on LGBT people. Polls suggest the liberal mayor of Warsaw Rafal Trzaskowski has a real chance to win.

BALKAN BLOG: Gangster-style photos from Bulgarian PM’s bedroom ratchet up dirty war with anonymous enemy

Borissov’s latest term in office has been plagued by constant scandals, but photos of the PM sleeping next to a Glock 9mm handgun and a drawer full of €500 bills and gold bars indicate he has a bitter enemy close to home.

VISEGRAD BLOG: Returning migrants but no COVID baby boom for emerging Europe

What does the coronavirus pandemic mean for the region's dismal demographics?

ISTANBUL BLOG: Banking regulation as clear as dishwater

Latest rule change from central bank in effort to ramp up credit in economy suspends reserve requirement for lenders. Very likely an amendment will emerge before you get to the end of this sentence.