News

Planned constitutional amendments rock Georgia’s political boat

Carmen Valache in Lund May 26, 2017

Proposals for radical constitutional amendments continue to divide society as consultation period approaches its end.

Czech political crisis leaves populist billionaire confronting potential rainbow coalition

bne IntelliNews May 26, 2017

The ruling CSSD was the clear loser from the recent political crisis, according to a new poll, while its coalition partner Ano expanded its lead to close to 20 points.

Arena Hospitality Group raises €106mn in Croatia’s biggest post-crisis IPO

Akin Nazli in Belgrade May 26, 2017

First IPO by a Croatian tourism company to finance Arena's upgrade plans and expansion in CEE region.

Political uncertainty looms over appointment of Ukraine’s new central bank governor

Sergei Kuznetsov in Kyiv May 26, 2017

President Poroshenko needs a candidate who is acceptable to Kyiv’s Western backers, able to secure parliament's support in the Ukrainian parliament, and is loyal to Poroshenko himself.

IBA's restructuring plan expected to be approved, says Moody's

bne IntelliNews May 26, 2017

Azerbaijan government tries to force creditors to share losses from insolvent bank's open currency positions.

Chisinau mayor detained on suspicion of corruption

bne IntelliNews May 26, 2017

Probe into city parking scheme reopened after mayor Dorin Chirtoaca's party opposed changes to Moldova's electoral system.

Russia’s Otkritie uses London bank as collateral for €250mn loan

Jason Corcoran in London May 26, 2017

Analysts are incredulous after London unit’s post-tax profit slumped last year by almost 50% to $30mn.

Romanian flag carrier Tarom reports losses amid claims of “sabotage” by new CEO

Iulian Ernst in Bucharest May 25, 2017

Tarom last posted a profit in 2007 and recently lost its leading position on the local market to low-cost carrier Blue Air.

Debt-crippled Mongolia finally gets $5.5bn IMF-led bailout

bne IntelliNews May 25, 2017

Financial aid package intended to help Mongolia address its crippling debts and push through reforms.

Question mark over Turkish deputy PM Simsek's future if Erdogan drives for growth

bne IntelliNews May 25, 2017

Ex-Merrill Lynch economist may not fit in easily if Turkish president shifts economic management focus from fiscal discipline to stimulating economic expansion.

Ukrainian prosecutors raid ex-PrivatBank execs and firms suspected of €9bn fraud

bne IntelliNews May 25, 2017

Lender is suspected of providing multi-billion credits to related parties in 2008-2016, including using refinancing funds obtained from the central bank.

Former Romanian tourism minister and ex-president's daughter indicted in corruption case

Carmen Simion in Bucharest May 24, 2017

Former minister Elena Udrea and Ioana Basescu indicted in case concerning financing for Traian Basescu's 2009 presidential election campaign.

EU opens probe over Slovak aid for JLR car plant

bne IntelliNews May 24, 2017

Slovakia offered the maximum permitted incentives of €125mn to Jaguar Land Rover to win the €1.4bn investment.

New law to allow Romania’s “port oligarchs” to cash in

Clare Nuttall in Bucharest May 24, 2017

Private port operators to benefit from minimal rents at Romanian ports for the next decade if proposed law is adopted.

Long serving Uzbek central bank chief dies at 67

bne IntelliNews May 24, 2017

Death of Fayzulla Mullajanov comes while the Uzbek government is working on a new plan to liberalise the currency market.

Azerbaijan's IBA angers creditors with debt restructuring plan

bne IntelliNews May 23, 2017

Senior creditors owed $2.4bn can exchange the bank's debt for long-term state bonds, with the option of taking a 20% haircut if they want a higher interest rate.

Macedonian special prosecutor asks to freeze VMRO-DPMNE assets

Valentina Dimitrievska in Skopje May 22, 2017

Former Prime Minister Nikola Gruevski named as primary suspect in new investigation into illegal party financing.

Croatia's HDZ in stronger position to form new government after local election victory

Akin Nazli in Belgrade May 22, 2017

PM Andrej Plenkovic to start talks on new government after May 21 local elections, following HDZ's split from coalition partner Most.

Former Serbian ombudsman forms new political movement

bne IntelliNews May 22, 2017

Sasa Jankovic's movement seen as the start of a stronger opposition to PM and president elect Aleksandar Vucic, whose SNS dominates Serbia's political scene.

Macedonia’s SDSM launches talks on formation of new government

Valentina Dimitrievska in Skopje May 21, 2017

SDSM leaders hold meetings with Macedonia's ethnic Albanian parties as they prepare to form government after decade in opposition.

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