Germany fails to protect Nord Stream 2 from EU gas laws

bne IntelliNews November 11, 2019

Germany’s Bundestag parliament has failed to pass a bill that would have helped shield the controversial Nord Stream 2 gas pipeline project from recent amendments to the EU’s gas directive.

Romania’s former PM Dancila to face President Iohannis in second round of presidential elections

bne IntelliNews November 11, 2019

Klaus Iohannis seen heading for victory in the runoff in two weeks time, which will reinforce the new government headed by the centre-right PNL.

Albania, North Macedonia and Serbia agree to set up common market

Valentina Dimitrievska in Skopje November 10, 2019

Eliminating obstacles to the free movement of people, goods, services and capital will facilitate trade and investment in the Western Balkans — but the primary goal of all three countries is EU accession.

EBRD advises Turkey on reforms to open swollen bad debt burden to foreign buyers

bne IntelliNews November 8, 2019

Presently Turkish banks only permitted to sell NPLs to fellow domestic banks or country’s asset management firms. Hungry outsiders might place bids if Ankara opens market to investors looking to securitise the loans.

CONFERENCE CALL: President of Turkmenistan Gurbanguly Berdymukhamedov hits the road to woo investors

Mark van Loon in Milan November 8, 2019

The President of Turkmenistan Gurbanguly Berdymukhamedov was in Italy this week for an Italian – Turkmenistan business forum took in Milan on October 7, to woo investors and diversify the economy

Romanian presidential election becomes a race for second place

Iulian Ernst in Bucharest November 8, 2019

Sunday’s vote will determine whether incumbent Klaus Iohannis faces recently dismissed prime minister Viorica Dancila or Dan Barna who represents the “new” centre-right against Iohannis’ old guard in the second round.

Russia’s RTS index hits six year high, MOEX sets a new all time record as Santa rally gets underway

Ben Aris in Berlin November 7, 2019

Its been a good week for Russian stocks as the dollar denominated Russia Trading System index hit 1,471 as of November 7, its highest level in six years, and the ruble denominated Moscow Exchange Index crossed above 3,000 for the first time.

Q3 FINANCIALS, TURKEY: Isbank beats peers with 9% profit growth but remains far behind real sector outperformers

Akin Nazli in Belgrade November 7, 2019

Outperformers: Turkcell, Ford Otosan, Coca Cola Icecek, Ulker, Anadolu Cam, Enerjisa.

Turkey’s mega airport ‘looking to refinance up to €5bn’

bne IntelliNews November 6, 2019

Grand infrastructure project got off to a less than auspicious start, hitting the share price of Turkish Airlines in the process.

Chinese interested to invest in flying car from Slovakia

Nelly Tomchikova in Prague November 6, 2019

Chinese investors might be interested in the flying car of Slovak designer Stefan Klein, as the Slovak News Agency learned at this year's China International Import Expo opened on November 5 in Shanghai.

PPF Group of richest Czech Kellner posted a profit increase of 160% y/y in 1H19

Nelly Tomchikova in Prague November 6, 2019

PPF Group of Czech billionaire Peter Kellner reported net profit growth of 160% year-on-year to CZK14.6bn (€573mn) in 1H19, compared to CZK5.6bn (€220mn) the company earned in 1H18

Turkey to redeem $1.5bn of 10-year eurobonds on November 7

Akin Nazli in Belgrade November 5, 2019

Big question mark whether strongman Erdogan is ‘welcome’ on international debt markets following Syria invasion.

Ukraine's natural gas monopoly raises $500mn via new Eurobond placement

bne IntelliNews November 5, 2019

Ukraine's natural gas monopoly Naftogaz has raised $500mn via a seven-year Eurobond, the company said in a statement on November 5.

EU’s top court rules Poland’s judiciary reform breaks EU law

Wojciech Kosc in Warsaw November 5, 2019

The ruling is yet another blow to the ruling right-wing populists from PiS who came to power in 2015 with promises of overhauling the judiciary.

IIB successfully executes largest local currency bond placement in Romania

bne IntelliNews November 5, 2019

Orders for the International Investment Bank's latest issue amounted to more than RON500mn and the final book showed a very diversified investor base represented by 18 institutional investors.

Romanian parliament endorses Ludovic Orban's government

Iulian Ernst in Bucharest November 5, 2019

PNL leader to head a heterogeneous coalition of MPs, and will face problems gathering the necessary support for each and every step he wants to take, particularly if it involves a vote in parliament.

Turkey’s Mersin Port ‘mandates lenders to issue $550mn of 5-year eurobonds’

Akin Nazli in Belgrade November 4, 2019

Most proceeds to finance outstanding eurobonds that formed first ever infrastructure paper issued by a Turkish company.

Central Europe shrugs off Western Europe’s slowdown

Ben Aris in Berlin November 4, 2019

Western Europe is rapidly sliding into recession, but after a five-year-long boom, Central Europe is holding out.

Socialist candidate's win in Chisinau tilts balance of power towards President Dodon

Iulian Ernst in Bucharest November 4, 2019

The mayoral race in the Moldovan capital became a fight between the pro-Russian and pro-EU halves of the ruling coalition.

Czech-Slovak billionaires Kretinsky and Tkac become the largest shareholders in Metro AG

Nelly Tomchikova in Prague November 4, 2019

EP Global Commerce Group (EPGC) of Czech billionaire Daniel Kretinsky and Slovak investor Patrik Tkac increased their share in German retailer Metro AG to 29.99% by acquiring 7.3% of Haniel ́s shares, becoming Metro ́s largest shareholder