News

Polish government tables no-deficit budget for 2020

Wojciech Kosc in Warsaw August 28, 2019

First budget in three decades without a deficit drafted for next year — but critics say it will be amended after this autumn's general election.

Hungarian rate-setters keep policy unchanged and note downside inflation risks

Levente Szilagyi in Budapest August 28, 2019

The central bank affirmed its accommodative monetary stance, adding that downside risks to inflation strengthened amid the worsening external economic environment and decelerating domestic inflation.

Albania renews tender for construction of Vlora airport after talks with Turkish tie-up fail

bne IntelliNews August 27, 2019

Tirana invites bids for feasibility study for new airport on Albania's Adriatic coast as it prepares to find a new construction company to take on the project.

Rouhani backpedals on idea of Iran nuclear deal meeting with Trump

bne IntelliNews August 27, 2019

Implies that US president is interested in a photo opportunity, but that Tehran is not. Quips that White House can use Photoshop.

Romania’s ruling party loses majority and faces no-confidence vote

bne IntelliNews August 27, 2019

PM Viorica Dancila looks likely to lose her position in an imminent no-confidence vote, but there is not yet a new parliamentary majority to take over.

G7 BREAKTHROUGH? Iran’s Rouhani encourages idea of nuclear deal meeting with Trump

bne IntelliNews August 26, 2019

US president hints he might support oil-backed letter of credit to get Iranians “over very rough patch” caused by American sanctions. Says his “gut” tells him his counterpart will want to meet “to get this situation straightened out”.

Turkey’s Sabanci to sell its 57.9% stake in Yunsa textiles producer

Akin Nazli in Belgrade August 26, 2019

Move follows conglomerate’s recent disposal of 41% in construction equipment leasing services company Temsa Is Makinalari and May sale of buses and light trucks maker Temsa.

Russia's VTB bank asks Kremlin to control lucrative grain exports

bne IntelliNews August 26, 2019

VTB has been hoovering up assets in the grain export sector and now controls about a fifth of the business.

Fitch sees Bulgaria as next eurozone entrant

bne IntelliNews August 26, 2019

Bulgaria could adopt the European single currency as early as January 2023, says the international rating agency.

Moldova’s president says transfer of Chisinau airport to Rothschild fund was halted

Iulian Ernst in Bucharest August 26, 2019

President Dodon says the 2013 concession contract for Moldova's only international airport is being reviewed and should be cancelled.

Number of companies calling it quits in Turkey up nearly a quarter in July

bne IntelliNews August 25, 2019

More than 700 enterprises were shuttered amid country’s dire economic straits. Meanwhile, NPLs made to tourism industry climbing. Hoteliers complain of low per capita spending by foreign tourists.

Popularity of Poland’s PiS hit after media reveal deputy justice minister orchestrated smear campaign against judges

Wojciech Kosc in Warsaw August 25, 2019

Should more polls confirm the dent in PiS’ popularity, the ruling party might face not winning an outright majority — which it enjoys now — in the general election due on October 13.

FUNDS: Asia Frontier Capital pioneering foreign investments into Uzbek stocks

Ben Aris in Tashkent August 23, 2019

The Uzbek stock market is about to get a boost from a new law that will ease restrictions on the foreign ownership of bank shares that make up the bulk of trading on the exchange.

Ukraine joins EU leaders in opposing Russia’s re-admittance to G7

bne IntelliNews August 23, 2019

Ukraine’s President Volodymyr Zelenskiy added his voice to those of major European economies in opposing a proposal from US President Donald Trump to allow Russia back into the Group of Seven (G7) advanced economies.

Hungarian banks’ recovery unlikely to last, Capital Economics says

bne IntelliNews August 23, 2019

Capital Economics anticipates a slowdown in credit growth as Hungary's central bank is expected to gradually tighten monetary policy and raise rates.

TURKEY INSIGHT: ‘EM hunt switches from yield to safety' as Ankara readies for new political, economic phase

Akin Nazli in Belgrade August 22, 2019

Lira hit as critics sense weakened strongman Erdogan is intent on pumping up short-term growth.

Uzbek central bank to lift all limits on exchange fluctuations

Kanat Shaku in Almaty. August 22, 2019

Five-percent restriction on rate movement cancelled with rates to “now be determined by the buyers and sellers”.

Moldovan president aims to return Chisinau airport to state ownership after Rothschild deal

bne IntelliNews August 22, 2019

2013 concession of Chisinau airport to a “group of crooks” must be investigated, says President Igor Dodon, after re-sale of the airport’s operator to financier Nat Rothschild.

Czech government crisis almost over

Nelly Tomchikova in Prague August 22, 2019

Social Democrats' new nominee to head the culture ministry, former foreign minister Lubomir Zaoralek, has the support of President Zeman.

Fatal illness, freak accident dent Bulgarian tourist sector’s reputation in UK

bne IntelliNews August 22, 2019

An outbreak of Legionnaires’ disease linked to a Bulgarian hotel and a freak accident on an “extreme” waterslide have raised doubts among British holidaymakers about the Southeast European destination.

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