Eastern Europe / News

Russia's VTB Bank eyes JV with China's Alibaba

bne IntelliNews June 19, 2018

Afraid of falling behind its erstwhile rival, Russia's second-largest bank VTB Bank is negotiating a joint venture with Chinese e-commerce major Alibaba, Vedomosti daily said on June 19 citing unnamed sources close to the deal.

Russia’s World Cup lumbers some regions with stadia they can’t afford

bne IntelliNews June 19, 2018

Some Russian regions will not be financially capable of maintaining their 2018 FIFA World Cup facilities in the long run after the tournament is over, Fitch said in a report.

Russian Rosneftegaz to pay biannual divs, but only part to trickle down

bne IntelliNews June 18, 2018

Russia's state holding Rosneftegaz, that holds the government shares in oil major Rosneft, will switch to paying dividends twice a year, and will pay out at least 50% of its net profit in keeping with the Ministry of Finance’s orders.

Hundreds demonstrated in Russia's Novosibirsk against government decision to raise retirement ages

bne IntelliNews June 16, 2018

Dmitry Medvedev’s government pushed through the long discussed but sensitive decision as part of the Kremlin’s drive to raise fresh revenues to meet President Vladimir Putin’s proposed RUB8 trillion spending extravaganza.

Ukraine steel exports swell amid worries over impact of US sanctions

bne IntelliNews June 14, 2018

Ukraine's external exports swelled by 19.6% year-on-year in April on the back of booming metals exports that surged 65.8% y/y to $1bn – the sector’s best result since August 2014.

Ukraine NGOs slam new anti-corruption court loophole amid uncertainty over IMF tranche

Sergei Kuznetsov in Kyiv June 14, 2018

Ukrainian NGOs slammed an apparent loophole inserted into the new anti-corruption court (ACC) legislation at the last minute that could defang the western-backed initiative by allowing all appeals to the courts rulings to be heard in regular courts

The grain harvest outlook for Russia, Ukraine under threat due to drought

Vadim Dumes in Paris June 13, 2018

Crops in Russia and Ukraine have been hurt by hot dry weather that may reduce the the harvest this year and prices have already started to rise.

Denmark remains last to approve Russia's Nord Stream 2, Sweden finds "no reason" to ban the pipeline

bne IntelliNews June 13, 2018

Denmark is the last hold out in Europe to give permission for the construction of the controversial Nord Stream 2 pipeline after the Swedish government became the latest EU country to sign off on construction permissions for the Russian gas pipeline.

Kazakhstan among nations cheering SCO’s ‘victory’ over the G7

Kanat Shaku in Almaty June 12, 2018

Astana has $13bn of deals to celebrate but summit again showed Russia and China’s struggle for influence in the ‘Stans’ is far from settled.

EM fund managers sell to invest in more stable markets

bne IntelliNews June 11, 2018

The US Federal Reserve raising interest rates combined with political and economic turbulence have caused investments to flow out of emerging and into mature markets since the start of this year.

Kyiv launches legal proceedings in Switzerland and Ukraine against oligarch Kolomoisky

bne IntelliNews June 11, 2018

Ukraine’s central bank is seeking to recover $384mn from Kolomoisky, one of the former shareholders of PrivatBank, which was nationalised in late 2016.

FIFA World Cup in Russia to add 2% to ad market

bne IntelliNews June 8, 2018

Global advertising spending on the FIFA 2018 World Cup (WC) in Russia will amount to $2.4bn, Vedomosti daily said on June 7 citing the findings of Zenith analytical company. The mondial is expected to generate 3.5bn people TV viewership worldwide

Ukraine parliament greenlights law on anti-corruption court amid enormous western pressure

bne IntelliNews June 7, 2018

Ukraine's parliament, the Verkhovna Rada, has greenlighted in the second reading a law necessary to set up an independent anti-corruption court in the country, but the jury is still out if the new law will satisfy the IMF's demands.

Ukraine parliament dismisses finance minister Danylyuk

bne IntelliNews June 7, 2018

Ukraine's parliament. the Verkhovna Rada, has sacked the well regarded Oleksandr Danylyuk from the post of finance minister following his bitter conflict with Prime Minister Volodymyr Groysman.

Infighting snowballs in Ukraine as PM urges parliament to dismiss finance minister Danyliuk

bne IntelliNews June 7, 2018

Volodymyr Groysman tells MPs his finance minister's actions are "incompatible" with continued membership of the cabinet.

Ukraine parliament to adopt anti-corruption court law on June 7, finance minister says

bne IntelliNews June 7, 2018

Establishing an independent anti-corruption court is a crucial condition for a new tranche from a $17.5bn support package agreed by Kyiv with the IMF.

CEE monthly bond wrap: dead as a Dodo

bne IntelliNews June 6, 2018

Bond markets in Eastern Europe were as dead as the proverbial Dodo in May, continuing the slowdown already seen after the US imposed new sanctions on Russia in April.

Eurasian commodities exporters at risk from China deleveraging

Clare Nuttall in Bucharest June 6, 2018

Rating agency Fitch forecasts Beijing's deleveraging efforts will slow Chinese GDP growth, with a negative impact on countries that supply the Asian economic giant with raw materials.

IIB grants Wetlands International NGO €40,000 for fire prevention and peatlands restoration project

bne IntelliNews June 5, 2018

Moscow-based multinational development bank supports project that addresses fire risk from peatlands — a serious hazard that regularly afflicts Russia in the summer.

Putin signs off on a toothless anti-US counter-sanctions law

Ben Aris in Berlin June 5, 2018

The law was drawn up in retaliation for sanctions imposed on Russia in April and is unlikely to have anything more than a symbolic effect.