Ukraine's top taxpayer Naftogaz earned UAH11.6bn in profits in 2018

bne IntelliNews June 28, 2019

Ukraine’s national gas company Naftogaz reported $443mn in profits for 2018, while its tax and dividend payments accounted for 19% of Ukraine’s government income.

Top German companies plan to invest €395mn into Russia in the next 12 months

Ben Aris in Berlin June 27, 2019

Two-fifths of the Russian-German Chamber of Commerce's members plan to invest into Russia over the next 12 months.

Kosovo threatens new measures against CEFTA members if trade barriers are not removed

bne IntelliNews June 27, 2019

Threat of wider Balkan trade war as trade minister says reciprocal measure will be taken against CEFTA states that impose barriers against Kosovan imports.

Seven New Europe members of PACE walk out in protest against Russia’s readmission

Ben Aris in Berlin June 27, 2019

The decision has split the Council down the middle. Almost all of the western European members voted overwhelming to allow Russia back in. However, countries close to the Russian border voted against readmission.

Russian billionaire Prokhorov sells 16% in shoe retailer Obuv Rossii

bne IntelliNews June 27, 2019

Karyo Holdings, controlled by billionaire Mikhail Prokhorov, sold its entire 15.625% stake in Russian shoe producer and retailer Obuv Rossii (OR), the company said on June 26.

State to resume support for Russian car market

bne IntelliNews June 27, 2019

The Russian government will resume the support for Russian car market as of July 1 given declining demand and sales

President Tokayev showers debt relief on restive Kazakh population

bne IntelliNews June 27, 2019

Two weeks after the election period tumult he steps forward with order to help half million low-income borrowers repay bank sums. Says state assistance just short of billion dollars will eventually help more than 3mn people.

Turkish state's Vakifbank sells $150mn of 5-year eurobonds

Akin Nazli in Belgrade June 26, 2019

In other market news: Foreign press question story behind Moody’s surprise Turkey downgrade, BlackRock filing indicates stake increase in gold miner and fund considers selling shares in Domino’s Pizza operator.

Ukrainian delegation suspends its participation in PACE

bne IntelliNews June 26, 2019

Kyiv suspends participation in the European human rights organisation following the decision to readmit the Russian delegation.

Czechia's CTP takes €1.9bn loan to close CEE's largest ever real estate transaction

bne IntelliNews June 26, 2019

New loan significantly simplifies the company’s previous financing arrangements, securing funding of its industrial portfolio over the mid-term.

Labour shortages and costs halved the FDI in the Czech Republic in 2018

bne IntelliNews June 26, 2019

Foreign investors find it "extremely difficult" to find an available and qualified labour force in the Czech Republic, which discourages them from investing, says EY M&A specialist.

E.ON offers its assets in Czechia, Hungary and Germany for sale to overcome EC concerns over Innogy

bne IntelliNews June 26, 2019

German energy company E.ON offered to sell several assets to overcome the concerns of the European Commission over its bid for competitor Innogy’s network and retail assets.

Iranian president says White House “afflicted by mental retardation”

bne IntelliNews June 25, 2019

Hits out at Trump administration’s “outrageous and idiotic” decision to impose sanctions on supreme leader and foreign minister. US president bristles, tweets threats of "obliteration".

Disgraced daughter of late Uzbek dictator pleads for clemency

Kanat Shaku in Almaty June 25, 2019

Gulnara Karimova makes move after $1.2bn of her assets are reclaimed by Uzbekistan. Once known as the country’s “most hated person” and accused of massive telecoms and other corruption, she is languishing in jail with health problems.

Poland’s Supreme Court reform breaches EU law, the bloc’s top court rules

Wojciech Kosc in Warsaw June 25, 2019

Poland dropped the contested changes in December, but the European Commission pressed on with the case to enshrine in the EU’s legal order that any member state’s tinkering with the independence of the judiciary must be contained.

Albania’s top election body decides local vote will go ahead

Valentina Dimitrievska in Skopje June 24, 2019

Electoral College weighs in on constitutional crisis after Albania's President Ilir Meta cancelled the local election, while Prime Minister Edi Rama insists it will go ahead.

More than 250,000 gather in Prague for anti-government protest

Nelly Tomcikova in Prague June 24, 2019

A series of protests against the Czech Prime Minister Andrej Babis and his minority government culminated on June 23 with the biggest mass protest in Prague since the Velvet Revolution in 1989. More than 250,000 people gathered on Letna plain.

Crowd at Ukraine's gay pride march doubled this year

Ben Aris in Berlin June 23, 2019

Ukraine celebrated its third Kyiv Pride with a record turnout of 8,000 people who marched through the capital despite violent threats from far right extremists who had also travelled to Kyiv to prevent the march.

Erdogan candidate suffers thumping defeat in Istanbul revote

Akin Nazli in Belgrade June 23, 2019

Sensational victory for opposition's Imamoglu. How strongman president reacts to second humiliation now the question in earthquake for Turkish politics.

Serbia/Kosovo summit cancelled

Valentina Dimitrievska in Skopje June 23, 2019

Kosovan president blames "hasty, uncoordinated and wrongful decisions" by officials in Pristina, which he says have damaged the country's standing with its international partners.