News
Iranian oil tanker on Red Sea leaking oil says satellite tracker service
Vessel seen making hard turn. Jitters surround Iran’s crude exports with US set to start drive to force them to zero on May 2.
Croatia looks for Chinese lifeline for troubled shipbuilder Uljanik
Top-level delegation from China Shipbuilding Corporation visits Croatian shipyards after Zagreb declines to back €1bn restructuring plan.
Putin dismisses Moscow's newly-appointed ambassador to Belarus amid political, economic row
Russian President Vladimir Putin dismissed “the ambassador of war” Mikhail Babich, Moscow's ambassador to Belarus, by special decree on April 30, less than a year after his appointment.
Eurotorg reports strong 2018 results as Belarusian retail grows
The leading supermarket chain in Belarus Eurotorg (aka Euroopt) reported strong 2018 results that will bolster its chance of getting a mooted IPO away this year after postponing an attempt last year.
Kosovan president looks to US to broker deal with Serbia as “weak” EU fails to make progress
Hashim Thaci says the US is key to settling the ongoing conflict between the two countries after the latest attempt to restart of the Serbia-Kosovo dialogue in Germany produces no result.
Russia drops out of the world’s top five military spenders for first time since 2006
The military phase of Russia’s development began in around 2012 when President Vladimir Putin began rearming in preparation for a showdown with the west that climaxed with the annexation of Crimea in 2014. Now it has come to an end.
Turkey says alleged UAE spy hung himself in cell. Fears for Emirates NBD’s deal for Sberbank’s Denizbank may follow
Case could impact on already brittle relations between Ankara and Emirates. President Erdogan said to have so far cleared acquisition reluctantly.
Newly founded Air Albania to add new destinations in Europe and North America
Air Albania was set up as a joint venture with Turkish Airlines as Tirana seeks to boost air transport and bring more tourists to Albania.
Arming and rearming: Military spending grows across CEE and SEE in 2018
Russia’s expenditure falls for a second year, even though Moscow fears are driving defence outlays elsewhere. Turkey committed a league-topping 24% more while Iran spent 9.5% less on its armed forces as US tightened economic noose.
Hungarian PM Viktor Orban’s friend seals €2.3bn railway contract with Chinese firms
RM International, a company owned by Lorinc Meszaros, is part of the consortium picked to upgrade the railway line connecting Budapest and Belgrade.
Russia opens criminal investigation in dirty export oil whodunit
Russia's oil pipeline operator Transneft launched a criminal investigation into possible deliberate contamination of oil in Russia’s Druzhba pipeline to Europe, the company said on April 26.
Orban deepens Sino-Hungarian strategic partnership at BRI summit
Foreign policies based on democracy export are "counter-productive" and "destabilising", says Hungarian Prime Minister Viktor Orban as he pursues deeper ties with Beijing.
Russian HeadHunter valued at $675mn ahead of IPO
HeadHunter is the leader in the online recruitment segment in Russia, with over 50% market share, as well as in several neighboring Russian-speaking countries.
Record profit for Russian Novatek in 1Q19 on Arctic LNG-2 deals
Russia’s privately owned Novatek is on a tear after first quarter profits exploded, rising 666% year-on-year to $5.8bn under IFRS accounts, the company reported on April 26.
Croatia positions itself in high-end of tourism sector with luxury marina opening
Croatia faces stiff competition from the reviving Turkish and Egyptian markets for budget tourists, but with the opening of the luxurious ACI Marina Rovinj and new cruise terminal in Zadar it is wooing tourists at the higher end of the market.
Czech financial analytical office uncovered record number of fraudulent transactions in 2018
The Financial Analytical Authority (FAU) uncovered a record number of fraudulent transactions of CZK7.55bn in 2018. The volume of secured funds related to corruption, money laundering, tax fraud and terrorist financing recorded a rapid year-on-year i
Hungary picks companies for Budapest-Belgrade railway upgrade
The planned 350 km high-speed Chinese-funded railway is considered a flagship project of China's Belt and Road Initiative.
Russia's largest grain freight operator RusTransCom postpones IPO
Russian rail operator RusTransCom, specialising on transportation of grain, mineral fertilisers, and timber, has postponed its plans to hold an IPO, the company said in a statement.