FUNDS: Asia Frontier Capital pioneering foreign investments into Uzbek stocks

Ben Aris in Tashkent August 23, 2019

The Uzbek stock market is about to get a boost from a new law that will ease restrictions on the foreign ownership of bank shares that make up the bulk of trading on the exchange.

Ukraine joins EU leaders in opposing Russia’s re-admittance to G7

bne IntelliNews August 23, 2019

Ukraine’s President Volodymyr Zelenskiy added his voice to those of major European economies in opposing a proposal from US President Donald Trump to allow Russia back into the Group of Seven (G7) advanced economies.

Hungarian banks’ recovery unlikely to last, Capital Economics says

bne IntelliNews August 23, 2019

Capital Economics anticipates a slowdown in credit growth as Hungary's central bank is expected to gradually tighten monetary policy and raise rates.

TURKEY INSIGHT: ‘EM hunt switches from yield to safety' as Ankara readies for new political, economic phase

Akin Nazli in Belgrade August 22, 2019

Lira hit as critics sense weakened strongman Erdogan is intent on pumping up short-term growth.

Uzbek central bank to lift all limits on exchange fluctuations

Kanat Shaku in Almaty. August 22, 2019

Five-percent restriction on rate movement cancelled with rates to “now be determined by the buyers and sellers”.

Moldovan president aims to return Chisinau airport to state ownership after Rothschild deal

bne IntelliNews August 22, 2019

2013 concession of Chisinau airport to a “group of crooks” must be investigated, says President Igor Dodon, after re-sale of the airport’s operator to financier Nat Rothschild.

Czech government crisis almost over

Nelly Tomchikova in Prague August 22, 2019

Social Democrats' new nominee to head the culture ministry, former foreign minister Lubomir Zaoralek, has the support of President Zeman.

North Macedonia’s chief special prosecutor put in detention

Valentina Dimitrievska in Skopje August 21, 2019

Katica Janeva's arrest is expected to restore trust in justice institutions that was badly shaken when her involvement in the so-called Extortion scandal was revealed.

Turkish real estate tycoon Agaoglu puts his luxury cars up for sale amid market misery

bne IntelliNews August 21, 2019

Meanwhile, Kamhi family put Istanbul’s Profilo shopping mall on market with an asking price of $74mn—half of what they tried to sell if for five years ago.

Unpredictable Trump may encounter an unpredictable Iran warns Tehran’s top diplomat

bne IntelliNews August 21, 2019

Zarif’s remarks come as Australia and Bahrain agree to back US-led maritime security mission off Iranian coast already supported by UK.

Turkey’s private banks under growing government pressure to boost lending

Akin Nazli in Belgrade August 20, 2019

Central bank introduces reserves changes which observers note tally with possible plan to drive up short-term economic growth and call early elections. Lira comes under pressure.

Russia's Rosneft and finance ministry wrestle over Arctic funding

bne IntelliNews August 20, 2019

Russia's finance ministry is insisting that the moratorium on oil and gas extraction support is extended for the Arctic region, while Rosneft pushes through support for its Arctic project Vostok Oil.

Hungary and Germany mark 30th anniversary of border opening

bne IntelliNews August 20, 2019

Angela Merkel and Viktor Orban put their differences over migration aside to commemorate the opening of the Hungarian-Austrian border, a milestone event in the momentous year of 1989.

Uzbek prosecutors launch new criminal probe against late autocrat Karimov’s daughter

bne IntelliNews August 20, 2019

Prosecutors indicted Karimova for illegally buying two cement plants and selling them off to a foreign business, saying she coerced the owners to hand over their companies.

Kosovo bans import of potatoes and honey from North Macedonia

bne IntelliNews August 18, 2019

Reciprocal measure taken after North Macedonia introduced tariffs on imports of fish and roe from Kosovo in June this year.

TURKEY INSIGHT: Consumer hump, factory slump

Akin Nazli in Belgrade August 16, 2019

Turkish industrial production contracts for 10th straight month. Worst run since financial crisis. Government, meanwhile, continues to work the credit pumps. “Central bank playing with fire,” says one analyst.

Russia releases French Baring Vostok partner on house arrest

bne IntelliNews August 16, 2019

Moscow court released French partner of Baring Vostok Capital Partners Philippe Delpal from pre-trial detention and put him under house arrest on Thursday August 15.

Russia’s LNG production soaring in 2019

Ben Aris in Berlin August 16, 2019

Russia has kept is oil and gas production capped in keeping with the terms of the OPEC+ deal, but the production of LNG has soared in the last year, as the Kremlin hopes to turn gas into a commodity that can be sold anywhere.

ECB shuts down troubled Latvian lender PNB Banka

Levente Szilagyi in Budapest August 16, 2019

The ECB assessed that PNB Banka was failing or likely to fail in accordance with the Single Resolution Mechanism Regulation.

Fast fashion giant Primark prepares to expand in Poland

bne IntelliNews August 16, 2019

Eastern expansion continues after Primark opened its first CEE store in Ljubljana in June.