Webinar & Podcast: Whither Ukraine in 2021?

Ben Aris in Berlin November 26, 2020

Without an IMF deal can Ukraine get through 2021 without a crisis? With $11bn of debt to pay in debt redemption but only $26bn in reserves, Ukraine is headed for a crisis unless it can kiss and make up with the IMF.

Von der Leyen tells Poland and Hungary to contest rule of law link to EU money in court

Wojciech Kosc in Warsaw November 26, 2020

Warsaw and Budapest are blocking the adoption of the EU’s €1.8 trillion budget for 2021-2027, including the €750bn recovery plan to reinvigorate the bloc’s economy after the coronavirus (COVID-19) pandemic.

Constitutional Court defers decision on Romania's budget-busting 40% pension hike

Iulian Ernst in Bucharest November 26, 2020

Scaling back the pension hike is a prerequisite for avoiding a sovereign downgrade.

MEPs urge European Commission to act against Hungarian media financing in North Macedonia and Slovenia

Valentina Dimitrievska in Skopje November 26, 2020

MEPs suspect “gross interference” in democratic process in North Macedonia by Hungarian companies close to PM Viktor Orban’s inner circle.

Turkey starts releasing virus data that includes symptom free cases

bne IntelIiNews November 25, 2020

Move comes out of the blue—and shows a daily case total more than twice as high as Iran’s.

Ukraine strikes deal with Turkey to produce killer drones instrumental in Karabakh conflict

bne IntelIiNews November 25, 2020

Production might possibly be complicated by parts export ban introduced by Canada.

Bulgaria imposes 3-week lockdown to slow down COVID-19 spread

Denitsa Koseva in Sofia November 25, 2020

The decision comes after weeks of high numbers of new cases putting intense pressure on hospitals. Many Bulgarians believe it comes too late.

Accusations fly as a new coronavirus vaccine candidate enters the race for the $100bn market

Ben Aris in Berlin November 25, 2020

Another vaccine has entered the race to cure the world of the coronavirus (COVID-19) pandemic, but unlike the US version, when AstraZeneca announced its successful preliminary trial results its share price crashed as a result.

Turkey to scrap asset ratio slapped on banks year ago

Akin Nazli in Belgrade November 24, 2020

Erdogan administration has launched a ‘market friendly’ period in attempt at stopping the rot of lira depreciation, but currency has been back under pressure this week despite chunky rate hike.

Turkey’s 10-year eurobond in market with final cost expectation of 6.10%

Akin Nazli in Belgrade November 24, 2020

Bankers speculate that $2.5bn worth may be sold.

Tehran says foreign companies ‘in touch to explore Iran return in Biden era’

bne IntelIiNews November 24, 2020

Tony Blinken, nominated by US president-elect to serve as his secretary of state, is an outspoken proponent of the nuclear deal. If Washington rejoins the accord, heavy sanctions on the Iranians would be lifted.

Poland announces new strategy to contain COVID-19

Wojciech Kosc in Warsaw November 24, 2020

“100 days of solidarity” plan assumes retail will reopen under a strict sanitary regime ahead of Christmas, but government urges Poles to avoid holiday travel.

George Clooney says Hungarian government lied about his connections to Soros

Tamas Szilagyi in Budapest November 24, 2020

Hungarian government likely to come off poorly from clash with Hollywood actor that puts the international spotlight on its politics.

Putin increases personal income tax for the first time in two decades

Ben Aris in Berlin November 24, 2020

Russian President Vladimir Putin hiked personal income taxes from their flat 13% for the first time in two decades with a decree signed on November 22.

Belarus hits EU with tit-for-tat sanctions

bne IntelliNews November 23, 2020

The Belarusian government hit the EU and a number of European countries with tit-for-tat sanctions on November 22 and suspended all dialogue with the EU on human rights, according to the Belarusian Foreign Minister, Vladimir Makei.

Turkey seen as attracting $4bn via USD-TRY swaps during one week

Akin Nazli in Belgrade November 23, 2020

Changed limits on provision of dollars to London at spot for lira woos portfolio inflows, but foreign players can at any time use their lira to short the currency.

Bulgaria to impose lockdown to slow down coronavirus spread

Denitsa Koseva in Sofia November 23, 2020

The country ranked first in terms of the share of people who have died from coronavirus in Europe and the number of new cases remains high, above 4,000 per day.

Mongolia fears economic damage as country faces up to its first local transmissions of coronavirus

Anand Tumurtogoo in Ulaanbaatar November 23, 2020

Disease thought to have travelled from north to south of country after railway officials disregarded prevention rules.

Romania gets approval from EC for $8bn nuclear plant expansion

Iulian Ernst in Bucharest November 23, 2020

Project to include construction of Units 3 and 4 at the Cernavoda power plant and refurbishment of Unit 1.

Rosatom's €12.5bn nuclear plant expansion in Hungary moves forward

Tamas Szilagyi in Budapest November 23, 2020

Hungary's energy regulator MEKH issued an electricity implementation licence for the construction of two new blocks at the Paks nuclear power plant in a fast-track procedure.