Eastern Europe / News

Eyewatering budget cost of Putin's spending pledges detailed by Rosbank report

Ben Aris in Berlin March 22, 2018

The cost of the economic reforms announced by Russia's president in his controversial State of the Nation address works out as RUB20.5 trillion ($355bn), more than this year’s entire budget spending plan, bank's report concludes.

Sberbank promises to pay "very serious dividends" for 2017

bne IntelliNews March 22, 2018

Sberbank has become so profitable that its CEO German Gref, a former economics minister who is expected to go back into government in a reshuffle anticipated in May, is keen to do his bit for the country by boosting dividends.

Ukraine's leading independent paper Kyiv Post sold to Syrian businessman

bne IntelliNews March 22, 2018

The sale immediately raised questions about the paper’s independence as buyer Adnan Kivan reportedly has close ties to President Petro Poroshenko and is also said to have links to Syrian President Bashar al-Assad.

Aggressive post-IPO expansion hikes shoe retailer Obuv Rossii's sales

Ben Aris in Berlin March 22, 2018

New store openings to position Obuv Rossii as a key beneficiary of the ongoing recovery of consumer demand in Russia, BCS analysts forecast.

Ukrainian president Poroshenko sees his popularity in the polls collapsing

bne IntelliNews March 21, 2018

The election ratings of Ukrainian President Poroshenko are collapsing, according to poll results released on March 19 by the Kyiv International Institute of Sociology, while rival Yulia Tymoshenko has opened a wide lead.

Overwhelming victory to keep Putin in the Russian presidency until 2024

bne IntelliNews March 19, 2018

While Putin didn't offer a coherent vision or economic agenda, the Kremlin played the sure card of ramping up tensions with the West ahead of the election, ensuring high turnout and a 77% share of the vote for the incumbent.

Russia moves ahead with Eurobond plans despite escalating tension with West

bne IntelliNews March 16, 2018

Russia's Ministry of Finance is moving ahead with plans to place $7bn of new Eurobonds despite deteriorating relations with the West over the spy poisoning scandal.

Ukrainian parliament appoints Smolii central bank governor

Sergei Kuznetsov in Kyiv March 15, 2018

Ukraine's parliament finally appoints Yakiv Smolii, acting central bank governor, to succeed Valeria Gontareva.

International Investment Bank to promote Russian and Hungarian pharmaceuticals

bne IntelliNews March 14, 2018

IIB launches a new project to promote Russian and Hungarian pharmaceutical industries' development.

Sale of Rosneft stake to CEFC in doubt after turmoil at Chinese group

Vadim Dumesh in Paris March 13, 2018

Russia's major privatisation deal of 2017 – the sale of 19.5% of Rosneft to China’s China Energy Company for $9.1bn – could fall apart after it appeared the controversial buyer doesn't have the money to pay.

Russia was behind the poisoning of former spy in the UK, says May

bne IntelliNews March 13, 2018

It is “highly likely” that Russia was behind the attack on former Russian double agent Sergei Skripal, who was attacked by a “military grade” nerve agent a week ago in Salisbury, the UK Prime Minister Theresa May said in a speech on March 12.

NATO provides Ukraine with aspirant country status

bne IntelliNews March 12, 2018

NATO has granted Ukraine the status of an aspirant country, which means that Kyiv has officially declared its aspiration to join the military alliance.

Mail.Ru Group to accept bitcoin in payments for ads

Adrien Henni in Moscow March 12, 2018

Leading Russian online firm and LSE-listed Mail.ru Group announced that its ad platform myTarget began accepting Bitcoin (BTC) and Bitcoin cash (BCH) as payment means for running ads on the group’s properties.

Russian e-commerce firm Ozon shareholders to inject $92mn into the company

EWDN in Moscow March 12, 2018

Dubbed “the Russian Amazon” the shareholder of Russia’s leading e-commerce company Ozon Holdings will inject up to $92mn into the company to fund its further expansion.

Eastern Europe risks losing lead in workplace equality

Clare Nuttall in Bucharest March 9, 2018

The high number of women in high-ranking positions in businesses is partly a legacy from the communist era and continues despite less than conducive business and political environments.

Ukraine president rejects "donor pressure" over anti-corruption court

Sergei Kuznetsov in Kyiv March 7, 2018

Ukrainian President Petro Poroshenko has rejected an idea that "foreign donors will form" the nation's independent anti-corruption court, in an FT interview

Russian President Vladimir Putin’s popularity in large cities tumbled by 12 points in February

bne IntelliNews March 7, 2018

Putin’s popularity rating fell from 69.7% in January to 57.1% in February, with the Communist Party's Pavel Grudinin the main beneficiary.

VOX: Russian investment growth of 4.4% y/y in 2017 was unbalanced

Ben Aris in Berlin March 7, 2018

Russian investment grew for the first time in five years in 2017, but most of this was in commodities and transport.

Sberbank ousts supermarket Magnit as international investors' favourite Russian stock

bne IntelliNews March 7, 2018

Sberbank has become international investors second most favourite EM stock in the whole world.

Russian real estate tycoon and owner of O1 Properties Boris Mints to quit market

bne IntelliNews March 6, 2018

One the largest owners of A-class commercial real estate in Moscow O1 Properties of Boris Mints will quit the market and sell the assets to Laysa Group affiliated with Russian Railways. Mints was also a major shareholder in the Garden Ring banks