News

IMF, Moldova reach staff-level agreement that will unlock next loan tranche

bne IntelliNews July 10, 2019

IMF officials commend "sound" 2019 supplementary budget and rehabilitation of banking sector, as the Fund prepares to issue a loan tranche of around $46.5mn.

Putin ridicules green energy in speech in Russia’s dirtiest region

Ben Aris in Berlin July 10, 2019

Russian President Vladimir Putin ridiculed green energy during a speech in Sverdlovsk, Russia’s dirtiest region, asking if anyone cares about the worms and birds that are killed by wind turbines.

Russian State Duma calls for sanctions on Georgia, but Putin urges restraint

bne IntelliNews July 10, 2019

The Duma proposed a ban on imports of Georgian wine and mineral water amid a spike in tensions between the two countries.

Two Russian comedians prank North Macedonia’s PM Zaev

Valentina Dimitrievska in Skopje July 10, 2019

Russian pranksters Vladimir "Vovan" Kuznetsov and Alexei "Lexus" Stolyarov called North Macedonia’s Prime Minister Zoran Zaev pretending to be ex-Ukrainian president Petro Poroshenko.

Construction of the Turkish Stream pipeline 90% finished

Ben Aris in Berlin July 9, 2019

Last week Russian state-owned gas giant Gazprom invited bank analysts on a trip to inspect the construction work of the Turkish Stream (aka TurkStream) pipeline. They report work on the pipeline is on schedule and that it is 90% complete.

Kazakhstan sign agreements with Total and Eni on offshore Abay block and Dunga oil field

Kanat Shaku in Almaty July 8, 2019

Thanks to gradual economic recovery in 2017-2018, foreign investor interest in Kazakhstan has been on the rise.

Georgian opposition TV host delivers expletive-laden philippic against Russia

bne IntelliNews July 8, 2019

Rustavi 2 host used some of the strongest swearwords in the language in his monologue that followed a week of protests sparked by a Russian deputy's speech to the Georgian parliament.

Budapest Pride march ends peacefully as far-right protesters sealed off

bne IntelliNews July 8, 2019

For the first time pride participants were able to march without police cordons, while a group of counter protesters was kept away from the march by police.

Volkswagen reportedly gives up on plans to build plant in Turkey

bne IntelliNews July 8, 2019

German carmaker giant Volkswagen has given up on plans to build a multi-billion production plant in Turkey, a well-informed journalist announced on Twitter on July 5.

Opposition mayors in Albania refuse to hand over mandates

bne IntelliNews July 7, 2019

The refusal by opposition mayors to leave their posts escalates the crisis sparked by President Ilir Meta’s decision to cancel the June 30 local election that was ignored by the government which went ahead with the vote.

Russia will build the tallest residential building in Europe.

bne IntelliNews July 7, 2019

The One Tower project will be constructed on the territory of Moscow City, the Russian capital’s financial district, with apartments in the very centre of the business life of the capital.

Turkish President Erdogan sacks the governor of the central bank

bne IntelliNews July 6, 2019

“Its tin hats time in USDTRY,” tweeted Paul McNamara, after Turkey's president sacked the governor of the Central Bank

EU takes measures to strengthen links with Western Balkans

Valentina Dimitriveska in Skopje July 5, 2019

€180mn of funding proposed at Poznan summit, shortly after the European Council deferred its decision on the opening of accession negotiations with Albania and North Macedonia.

General Motors completes pull out of GM Uzbekistan, company renamed UZAUTO

Kanat Shaku in Almaty July 5, 2019

Uzbek state-run car producer GM Uzbekistan has been renamed UZAUTO Motors, after the US company completed its withdrawal from the country, GM Authority reported on July 3.

Romania’s finance minister admits to €1.5bn budget hole

Iulian Ernst in Bucharest July 5, 2019

Bucharest scrambling to find ways to plug the gap and keep the budget deficit under 3% of GDP ahead of a mid-year budget revision expected on July 31.

Fireworks over US embassy as GAZ workers protest against sanctions on July 4

bne IntelliNews July 4, 2019

As Moscow diplomatic dignitaries gathered at the US ambassador’s residence for the independence day celebrations they were met by a picket line of workers from the GAZ car factory whose jobs are on the line.

VTB Capital sounds time for “taking profits” in Turkish assets

Akin Nazli in Belgrade July 4, 2019

VTB Capital believes it is not worth chasing the current rally in Turkish assets, and that in fact it is worth taking profits from a trading perspective.

Iranian oil tanker detained by Royal Marines in Gibraltar

bne IntelliNews July 4, 2019

Marines surrounded and detained the Panamanian-flagged supertanker The Grace 1 on suspicion of carrying oil to Syria’s Banyas port.

Kazakhstan’s Astana International Exchange lists first exchange-traded fund

Kanat Shaku in Almaty July 4, 2019

ITI Funds became the first provider to list an exchange-traded fund (ETF) on Kazakhstan’s Astana International Exchange (AIX) on July 3.

Workers protest as Bosnia’s troubled Aluminij faces closure

Denitsa Koseva in Sofia July 3, 2019

Socialist era industrial giant will have its power supplies cut off within days over its unpaid debts, forcing it to halt operations, and the government of the Muslim-Croat Federation has refused to step in.

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