Russia, Belarus make first cross-border digital financial asset transactions
Belarus tests new BUK missile system as a low-key arms race in Eastern Europe gathers momentum
CSTO states express serious concern over terrorist threat in Afghanistan
Armenia refuses to host Eurasian Economic Union summit
Russian software firm Softline expects to grow 36% in 2025
Russian exiles flee war and persecution, seeking refuge in Mexico
Western acceptance of gender transitioning is “horrifying” and “apocalyptic,” says Head of Russian Church
Kazakhstan’s KazMunayGas reportedly bids for Lukoil’s Bulgarian asset
Trust in Zelenskiy drops to half, says poll
Ukraine’s inflation climbs to 11.2% y/y in November
Ukraine's international reserves soared to new all-time high of $43.78bn in 2024
OUTLOOK: Ukraine 2025
airBaltic CEO and IPO under pressure after flight cancellations
COMMENT: The EU’s Green Deal is a “policy disaster”
Damage of key infrastructure on the seabed of the Baltic raises security concerns, calls for Nato involvement
Telia willing to sell its Latvian operations back to government if price is right
Czech police request parliament strip far-right leader of immunity
Czech central bank monetary department chief quits
Czech PMI drops to 44.8 amid weakening automotive industry
US sanctions key Orban ally for corruption
Hungary’s 4iG seeks further acquisitions in CEE and Western Balkans for rebranded telco operations
EU presidency passes from Putin-whispering Hungary to hawkish Poland
PROFILE: Lorinc Meszaros, Hungary's most powerful oligarch
Polish manufacturers go deeper in downturn mode in December
CENUSA: Polish EU Presidency puts Russian hybrid threats in the spotlight
Absent Slovak premier traced to luxury hotel in Vietnam
Slovakia faces cut-off of Russian gas pipeline supplies
Slovakia’s Fico in surprise visit to Putin in Moscow
The EU Council calls for a European geothermal action plan
FDI in Emerging Europe hit by geopolitical uncertainty and German slowdown
Slovenia sets up emergency alert system after devastating floods
Italy eyes restart of Albania migrant processing scheme despite legal hurdles
Albania imposes one-year TikTok ban
Athens conditions support for Albania’s EU accession on protection for Greek minority
BALKAN BLOG: What Grenell’s return means for US diplomacy in the Balkans
International highway tears through Bosnia’s rural heartlands
EU Council says enlargement is a "geo-strategic investment in peace"
Greeks cross border for cheap clothes, food and fuel after Bulgaria enters Schengen zone
Bulgaria heading towards new general election as Gerb ends coalition talks
Sales of superluxury cars in Bulgaria reach new record in 2024
Milanovic exploits healthcare scandal in struggle to hold on to Croatian presidency
Incumbent Milanovic to face Primorac in Croatian presidential election runoff
Croatian incumbent Milanovic scores first round presidential election victory, exit polls show
Kosovo bans main Serb party from running in general election
Kosovo's population down 12% since 2011
Kosovo’s president slams EU’s “unfair” treatment
Energy crisis in Moldova’s separatist Transnistria escalates
Moldova's breakaway Transnistria region opts for self-imposed energy blockade
Moldova’s separatist Transnistria region hit by blackouts and industrial shutdowns after gas cut off
Russia cuts gas deliveries to Moldova in attempt to undermine political stability
Thousands of Montenegrins demand resignation of ministers after Cetinje shooting
Gunman kills 12 in Montenegro mass shooting
North Macedonia's central bank lowers key interest rate by 0.25 pp to 5.55%
North Macedonia’s ex-deputy PM Grubi reportedly flees to Kosovo to avoid detention in corruption case
Romania's ruling coalition survives elections
Romanian liberals orchestrated Georgescu campaign funding, investigation reveals
Formation of ruling coalition in Romania faces deadlock as Social Democrats suspend talks
Serbia braces for possible US sanctions on Russian-owned oil company NIS
Tens of thousands rally in Belgrade demanding accountability over Novi Sad railway station disaster
OUTLOOK: Turkey 2025
Seoul-listed DoubleU acquires 60% stake in Turkey’s Paxie Games for $27mn
Risk of Israel-Turkey war in new Syria assessed by Israeli government commission
Turkish textile maker Akin Tekstil fires 152 on negative impacts of real lira appreciation
Central Asia emerges as new e-commerce hub
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INTERVIEW: Asian Infrastructure Investment Bank financing Central Asia’s green future
Former Karabakh leader Ruben Vardanyan faces life in prison
Corruption probe launched into Armenian satellite project
EBRD warns of risks for emerging markets pursuing industrial policies
Putin apologises for Azerbaijan Airlines disaster amid missile speculation
Russian missiles blamed for downing of Azerbaijan Airlines passenger jet
Did Russia shoot down the Azal passenger plane that crashed in Kazakhstan?
Georgian Dream loses the support of the regions
OSCE PA president cancels trip to Tbilisi amid huge backlash
Georgian workers to hold countrywide strike demanding new elections
Georgia’s outgoing President Zourabichvili to leave presidency, join protesters
OUTLOOK: Kazakhstan 2025
China-Kyrgyzstan-Uzbekistan railway officially launched, but sidetracked at least until summer
PMI registers record acceleration in Kazakh manufacturing growth in December
Iran gains observer status in Russian-led Eurasian Economic Union
Kyrgyzstan’s President Japarov demotes liberal democracy in favour of a “traditionalist” ideology
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Hit indirectly by sanctions, Mongolia struggles to find workarounds
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IEA: Access to energy improving worldwide, driven by renewables
The hurricane season in 2024 was weird
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Hundreds of millions on verge of starvation, billions more undernourished as Climate Crisis droughts take their toll
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Nelson Mandela worried about natural diamonds, Leonardo di Caprio defended them, makers of lab-grown stones demonise them
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JPMorgan, Chase and HSBC reportedly unwittingly processed payments for Wagner warlord Prigozhin
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Rain, rain go away
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Malaysia seeks BRICS membership
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Sri Lanka to apply for BRICS membership
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Libya’s mineral riches: unlocking a future beyond oil
Ukraine claims it was behind massacre of Wagner Group mercenaries in Mali
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Colombian mercenaries trapped in Sudan’s conflict
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Tunisian President Kais Saied re-elected for second term
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Climate crisis-driven global food security deteriorated between 2019 and 2022 and is even affecting the US
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BRICS bank chief touts Uruguay membership in Montevideo talks
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Singapore’s PacificLight Power embarks on $735mn hydrogen power plant project
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Iran’s Supreme Leader Khamenei calls out "American miscalculations"
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PODCAST: Emerging Global's Mathew Cohen talks with Ruthie Blum
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DoubleU Games (Seoul/192080) has acquired a 60% stake in Turkey's Paxie Games for a consideration of $27mn, DoubleU has announced to the market.
Based on the deal, DoubleU will acquire the remaining 40% for a consideration of $40mn over the next three years depending on the achievement of certain financial targets.
As a result, DoubleU’s stake in Paxie can rise to 100% by the end of the third year.
DoubleU will finance the acquisition through a combination of treasury shares and cash. The deal is expected to close in 1Q25.
Istanbul-based Arma Capital provided financial advisory services and BASEAK provided legal advisory services to DoubleU Games in the transaction.
Istanbul-based Paxie, launched in 2021, achieved 28mn downloads by November 2024. It posted a monthly turnover of $2mn in the month.
In 2021, Istanbul-based gaming investor Ludus, launched in 2021 with $30mn of funds, invested $1mn in Paxie.
In 2023, Paxie raised another $3mn from Ludus and Istanbul-based Alfa Games Partners.
DoubleU was launched in 2012. It was listed on the Korean Stock Exchange in 2019.
Chart: As of end-2024, there were 844 active gaming studios in Turkey, according to the latest Gaming Snapshot by Startups.watch.
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