Ankara also hit by withering note from Fitch. Lira stays steady as market was already braced for the triple-whammy.
Finding pilots willing to work for Russian airlines has become so tough that state-owned Rossiya carrier is for the first time looking to recruit from overseas. Russian pilots have headed abroad since the 2014 ruble devaluation.
Ukrainian Infrastructure Minister says he intends to cut all bus and train connections between Ukraine and Russia that would add to the suspension of plane connections between the two countries already in place.
Amid Russia's World Cup summer, MegaFon cut prices by 33-67% in 17 regions, provoking a response from rival Tele2. MTS this week entered the fray by offering unlimited mobile data, to which VEON is responding.
Privately owned Russian oil major Surgutneftegaz remains the investment banks' top pick as they expect it to pay out a massive 19% dividend yield this season, Sberbank CIB said in a note on August 16.
No capital controls, no IMF, says Albayrak. But analysts warn he could be in for a rude awakening somewhere down the road.
June’s weak expansion of 3.2% y/y and currency crisis portend recession and jump in banks' non-performing loans.
Like Moscow, Ankara has fallen out of the top 30 largest holders of US T-bonds. Iran and China are also on board with the idea of settling transactions in national currencies.
Idea discussed by presidents of Serbia and Kosovo has met with international opposition and criticism from politicians at home.
As the Turkish lira rallies to stronger than 6 to the dollar, analysts debate the significance of $15bn from Doha.
EBRD tops single lender list issued amid Turkey’s currency crisis.
Vice-president speaks of "retaliation for conscious attacks on our economy ". The lira, meanwhile, continues to rebound.
Belarusian President Alexander Lukashenko sacked a number a of ministers in public during a speech this week. He believes the incumbent government has failed to fulfil his orders due to "the devil-may-care attitude," he said on August 14.
Markets wonder whether President Erdogan, who notoriously opposes costlier credit, is aware of what the regulator is up to. Experts warn of “side effects”.
Former minister says the ruling PSD has “gone too far” and calls on Liviu Dragnea to resign after avalanche of criticism from the opposition over brutal intervention by riot police at August 10 protest.
The Kremlin has been cracking down on online criticism of the government. VK has been accused of being too compliant as of the 182 criminal cases launched in 2017 for social network posts, 138 were based on VK posts.
Currency experiences relief rally as situation mildly stabilises, Turks nervously await Trump’s response to president’s move against American merchandise.
Russia’s ruble fell to RUB69.40 against the dollar on August 13, its lowest level in two years, pulled down by a combination of the threat of new US sanctions and the collapse of the Turkish lira.
Russian oil producers have already returned oil production to record levels this year and will boost crude production next year further thanks to the launch of several greenfield projects, Opec said.
Emerging market currency likely feeling impact of souring sentiment on sanctions-hit Russia and dumping of Turkish lira.