Trump frustrated as US moves to cancel Turkey’s order for F-35s

bne IntelliNews July 16, 2019

With deliveries of Russian S-400 missile systems to Turks under way, Washington officials say Ankara won’t get its hands on world’s most advanced fighter jet. Commander-in-chief says situation is not “fair” and blames Obama.

Ukrainian oligarch Firtash continues legal battle in Austria despite Vienna's final extradition decision

bne IntelliNews July 16, 2019

In June, the Supreme Court of Austria cleared the way for Firtash to be extradited to the US to face corruption charges, but he is allowed to stay in Austria while a court considers a defence motion to re-open the case against him.

FRONTIER MARKETS: Oltin fund to be first internationally listed Uzbek security

bne IntelliNews July 16, 2019

Specialist LSE listing to provide investors with chance to get in early on Uzbekistan’s move from Soviet-type economy to market economy.

Turkey meets EU Cyprus gas drilling sanctions with ‘fourth ship’ announcement

bne IntelliNews July 16, 2019

Growing sense among analysts that with economy shot Erdogan is provoking constant ‘state of emergency’ to hold on to power.

Europe’s Iran nuclear deal policy “insolent” says Khamenei

bne IntelliNews July 16, 2019

Jibe follows meeting of EU foreign ministers at which delicate question of accepting Iranian oil in barter trades arose.

Sberbank reportedly sues ex-owner of Antipinsky refinery Mazurov

bne IntelliNews July 16, 2019

The troubles of Russia's largest independent vertically integrated refinery Antipinsky led Sberbank to prepare to bankrupt the company, while London courts froze €225mn worth of assets.

Ukraine's natural gas monopoly raises €600mn, $335mn via Eurobonds placement

Sergei Kuznetsov in Kyiv July 16, 2019

Naftogaz says it's better able to prepare for the next winter season by accumulating gas in its underground gas storage facilities after raising funds on attractive terms.

ExxonMobil reportedly plans to pull out of offshore gas project in Romania

bne IntelliNews July 15, 2019

ExxonMobil has invested some $700mn in the Neptun Deep project in the Romanian section of the Black Sea.

Home Credit files for Hong Kong public offering

Nelly Tomcikova in Prague July 15, 2019

Consumer lender majority owned by Czechia's richest man Petr Kellner mulls Hong Kong listing that could raise more than $1bn.

Poll shows high hopes ahead of Ukraine’s weekend general election

Ben Aris in Belrin July 15, 2019

Zelenskiy’s Servant of the People party still riding wave of popularity. Looks set to win by far largest share of vote and possibly outright majority.

“Serious” interest rate cuts on the way: Erdogan

bne IntelliNews July 15, 2019

Under pressure Turkish president who fired central bank governor last week leaves no doubt he is at the monetary helm.

Moldova seeks to wipe out cigarette smuggling on eastern border

bne IntelliNews July 15, 2019

New government in Chisinau claims cigarette smuggling via the separatist republic of Transnistria was allowed to flourish under the previous administration.

Russian oil companies ask for $40bn in tax breaks for Arctic development

bne IntelliNews July 15, 2019

Discussions are ongoing on whether Russia's largest companies will be able to maintain stable long-term oil output with Siberian brownfields alone, without tapping into challenging Arctic offshore fields.

Ukraine's president under fire over plan to expand lustration

bne IntelliNews July 15, 2019

Newly elected President Volodymyr Zelenskiy wants to change the law to extend lustration to officials who held high-level posts following the 2014 Euromaidan, including former president Petro Poroshenko.

Montenegro poised to join wave of Southeast European Eurobond issuers

Denitsa Koseva in Sofia July 14, 2019

Podgorica is mulling a €500mn Eurobond to refinance maturing debt, following successful issues by Croatia and Serbia in June.

Kazakhstan hikes car output

Kanat Shaku in Almaty July 12, 2019

Neighbouring Uzbekistan produced six times more cars than Kazakhstan in 2018 — but that could change with the launch of a new $1.1bn Chinese-Kazakh joint venture.

Serbia’s central bank makes surprise cut to key rate

Denitsa Koseva in Sofia July 11, 2019

The National Bank of Serbia lowered the key rate to 2.75% after keeping it at 3% for thirteen consecutive months.

Bosnia’s Aluminij to file for bankruptcy

Denitsa Koseva in Sofia July 11, 2019

Troubled aluminium smelter was forced to halt operations as power supplies were cut off due to its unpaid debts, and no strategic partner has been persuaded to take it over.

EU may threaten Turkey with sanctions over Cyprus dispute

bne IntelliNews July 11, 2019

The European Union’s row with Turkey over access to potential deposits of oil and gas in the disputed waters around Cyprus has flared up again.

Russia’s oil output fell to a three-year low of 10.79mn bpd in early July

bne IntelliNews July 11, 2019

Russia’s oil output fell to a three-year low of 10.79mn barrels per day (bpd) in early July, due to a row between oil pipeline monopoly Transneft and Rosneft, the country’s biggest oil producer