Eastern Europe / News

Binbank owner can sell its share for RUB1, expected to repay RUB350bn

bne IntelliNews September 22, 2017

Russia’s Central Bank of Russia (CBR) has started work on cleaning up the ailing Binbank (also known as B&N Bank) and the lender's main owner is ready to sell his share for RUB1 as well as repay losses of up to RUB350bn ($6bn).

Russia's Alrosa boasts biggest pink diamond of all time

bne IntelliNews September 22, 2017

Russian uncut diamond major Alrosa mined a 27.85 carat pink diamond, the company said on August 21. The diamond is nearly seven times biggest than the previous record holder which had a weight of 3.86 carats.

Russian oligarch Prokhorov sells Snob, his last media asset

bne IntelliNews September 21, 2017

The Oneksim group that belongs to Russian tycoon Mikhail Prokhorov sold 100% of Snob Media publisher to the head of the group Maria Gevorkyan, according to September 21 announcement.

Russia's Binbank asks central bank for help

Ben Aris in Berlin September 20, 2017

Another “Garden Ring” bank may be about to go to the wall after the Central Bank of Russia said that leading commercial lender B&N Bank has asked for a bailout.

Russia's MinFin confidently cuts domestic borrowing plan for 2018-2019 on bank of good economic performance

Vadim Dumes in Paris September 19, 2017

Russia’s economic recovery is going better than expected – so well that Russia's finance ministry has cut the net domestic borrowing programme from RUB1.05 trillion (€15bn) annually to RUB0.87 trillion, according to the draft federal budget

Russian budget sees little if any privatisation revenues

bne IntelliNews September 19, 2017

The new Russian three-year 2018-2020 federal budget currently being drafted by the government has less than RUB10bn ($172mn) per year worth of privatisation revenues planned, Interfax said on September 18 citing the Finance Minister Anton Siluanov.

Only a quarter of Russians keep their savings in banks

bne IntelliNews September 19, 2017

Only a quarter of Russians keep their savings in banks, according to the Russian Public Opinion Research Centre.

Ukraine to raise up to $4bn via Eurobonds in 2018-2019

bne IntelliNews September 18, 2017

The Ukrainian authorities have opened the book on the issue of the first bonds on the international capital markets since the Euromaidan protests broke out three years ago and ousted former president Viktor Yanukovych.

Volkswagen doubles exports of Russia-made cars

Vladimir Kozlov in Moscow September 15, 2017

Russia is keen to up exports and it will start with cars. Volkswagen will double the proportion of Russia-made cars it exports from 10% of the total output to 20%, Oliver Gruenberg, head of the German carmaker's plant in Kaluga, says.

EBRD mulls acquisition stake in Raiffeisen's subsidiary in Belarus

bne IntelliNews September 15, 2017

The EBRD is considering the possible acquisition of a stake in Priorbank, a Belarusian subsidiary of Raiffeisen Bank International (RBI) and the leading commercial bank in the country and maybe the Moscow-Minsk bank as well.

Washington extends Iran nuclear deal waivers but also imposes new sanctions

bne IntelliNews September 15, 2017

Washington has announced that it is extending sanctions waivers for Iran granted under the 2015 nuclear deal, but at the same time it is imposing new measures against several individuals and entities over the country's ballistic missile programme.

Eastern Europe on alert as Russia targets “West” in largest war games for years

bne IntelliNews September 14, 2017

Nato members Poland and the Baltic states fear Russia will use the "Zapad" exercise to boost its military presence in the Kaliningrad region and possibly in Belarus.

EBRD to lend €50m to Belinvestbank ahead of privatisation

bne IntelliNews September 14, 2017

The European Bank for Reconstruction and Development (EBRD) will lend €50m to Belinvestbank to replenish its capital and move it towards an eventual privatisation, EBRD President Suma Chakrabarti told journalists on August 13.

Polyus launches giant new mine in Russia's Far East

bne IntelliNews September 14, 2017

Russia to become the world’s second largest producer of gold after Polyus launched a new mining and smelting facility at Natalka in the Far Eastern Magadan region.

Russia ready to back deployment of UN peacekeepers not only on frontline in Ukraine's Donbas

Sergei Kuznetsov in Kyiv September 12, 2017

Moscow is ready to back the possible deployment of the United Nations (UN) peacekeepers not only on the contact line between Ukraine's troops and pro-Moscow rebels, "but also in other places," Putin told German Chancellor Merkel

Russian President Vladimir Putin expected to be nominated as a presidential candidate in November

Ben Aris in Berlin September 12, 2017

The Kremlin has almost finalised its plan for the reelection campaign, but is reportedly worried after turnout fell to a record low in the September 10 municipal and regional elections.

Russia's CBR gets tough on banks, demands they reveal owners' identities

bne IntelliNews September 12, 2017

New rules strike to the heart of the most serious problem in the Russian banking sector: owners' proclivity to make loans to themselves and then default on those loans.

Poland drops passport design that angered Lithuania and Ukraine

Wojciech Kosc in Warsaw September 12, 2017

Proposal to feature depictions of the Ukrainian city of Lviv and Lithuanian capital Vilnius in passport to celebrate 100 years of Polish independence sparked outcry in neighbouring states.

Kyiv leadership slams Saakashvili for "attack on Ukrainian statehood"

bne IntelliNews September 11, 2017

Ukrainian President Petro Poroshenko slammed former Georgian president Mikheil Saakashvili on August 11, who defied the president by entering Ukraine without a valid passport accompanied by a supporters and a bevvy of Ukrainian lawmakers.

Turnout slumps to record low at Russian municipal elections

bne IntelliNews September 11, 2017

The Kremlin-backed United Russia swept the board in the 16 regional mandates that were up for grabs, but the elections can be considered a defeat for the Kremlin as they were marred by a record low turnout ahead of the 2018 presidential elections.