News
Serbia raises €2bn from 7-year Eurobond
Oversubscribed issue will fund the government's €5.1bn stimulus package after Belgrade decided against going to the IMF for support.
Putin eases Russia’s coronavirus lockdown restrictions
Russian President Vladimir Putin lifted many of Russia’s coronavirus (COVID-19) lockdown restrictions, but the number of those infected continues to rise to new daily record highs.
TURKEY INSIGHT: U-turn in the face of ‘Devil’s triangle’
Officials lift UBS, Citi, BNP lira trading ban. Under regulator’s beady eye, local brokers stop offering FX trading on margin to retail clients. Foreign investors exit country at breakneck speed.
Russian retailer X5 storms e-groceries amid COVID-19
Russia's largest retailer X5 Group saw its online sales jump almost 5-fold year-on-year in April 2020 to RUB1.7bn ($23mn), which VTB Capital (VTBC) on May 8 estimated to be the largest share of e-groceries in Russia.
Poland’s election weekend that didn't happen
Last minute decision to cancel election plunged Poland's politics into ever-bigger chaos amidst the coronavirus pandemic and the looming economic crisis.
Czech central bank lowered key interest rate to 0.25% to ease COVID-19 crisis
Czech National Bank surprised the markets by lowering the two-week repo rate by 75 bp to 0.25%.
Tehran Stock Exchange passes million points for first time
Fears of a bourse bubble, however, are troubling some investors. Iranians have pinned hopes on the stock market with other parts of the economy—such as property, gold, cars and forex—laid low by US sanctions.
Turkey’s TAV and partner pay $415mn for Almaty Airport
Seen as sitting on strategic Asia-Europe trade junction along China's Belt and Road initiative to develop infrastructure and associated investments.
Prosperity Capital sets up Paris hub in post-Brexit move
Prosperity Capital, the most successful portfolio investor in Russia and the former Soviet Union, is setting up an office in France to serve as its European marketing arm following the decision by the UK to exit the European Union, bne IntelliNews ca
IMF cancels Ukraine EFF deal, downgrades it to an SBA due to "unprecedented economic uncertainty"
The International Monetary Fund (IMF) cancelled its agreement with Ukraine for the extended $5.5bn Extended Fund Facility (EFF) and says negotiations must restart for a downgraded Standby agreement (SBA) due to “political instability.”
Uzbek-born philanthropist Alisher Usmanov donates $15mn to help victims of the Sardoba dam disaster
Uzbek-born businessman and philanthropist Alisher Usmanov donated $15mn to help those affected by the busting of the Sardoba dam last week that had destroyed dozens of villages and had displaced a total of around 100,000 people from their homes.
Belarus authorities lash out at journalists, bloggers amid snowballing coronavirus crisis
Minsk revoked the media accreditation of a news crew of the Russian Kremlin-controlled television Channel One and deported its correspondent.
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Russia’s services PMI crashes to 18-year record low
As expected, Russia’s services IHS Markit Russia Services Purchasing Index (PMI) crashed to its lowest level on record in April and was far worse than the manufacturing index reported earlier, dragging the composite index result down as well
Poland’s Kaczynski orders voters to ignore Sunday’s presidential election as he strikes deal with coalition rebel
The decision to cancel the Sunday vote – regardless of its highly dubious legal character – appears to be a setback for ruling PiS, which has said for weeks it wants the election to happen in May.
SAPO opens criminal case against ex-Prosecutor General Riaboshapka
Ukraine’s Specialised Anti-Corruption Prosecutor’s Office (SAPO) has opened a criminal investigation against former Prosecutor General Ruslan Riaboshapka, who has been dubbed “Ukraine’s only ever honest Prosecutor General” on May 6.
Iran’s virus success ‘may be going into reverse’
Officials concerned by rising trend of infections as country attempts to open up to protect already battered economy.
Bulgaria not to extend state of emergency after May 13
The number of confirmed coronavirus cases in Bulgaria remains relatively low at below 2,000, and the government has already started easing restrictions.
Poland’s presidential vote in limbo four days before official date
Poles are electing their president this Sunday. Or maybe they aren't.
Almost $1bn worth of damage caused by bursting of Sardoba dam in Uzbekistan
Dramatic video released on social media shows moments shortly after dam burst, flooding villages. Army sent to divert water flow to lake. Criminal proceedings launched.
ECHR rules in favour of Romania's sacked anti-corruption chief
With Laura Codruta Kovesi at the helm, the National Anticorruption Directorate investigated numerous serving and former ministers and other high-level officials — but this brought her into conflict with Romania's top politicians.