News

Turkey mandates lenders for 2026 eurobond issue amid pinkish sentiment

Akin Nazli in Belgrade November 7, 2018

Turkish dollar bonds recover to highest levels in three months, but analysts warn country’s economic fundamentals still make it the most exposed emerging market to external shocks.

Capital Economics warns of growing overheating risk in Romania

bne IntelliNews November 7, 2018

Overheating risks are building in the Romanian economy, Capital Economics analysts warned on November 6 after the Romanian central bank decided to keep its policy rate at 2.5%.

Hungarian authorities close investigation in high profile Elias corruption case

bne IntelliNews November 7, 2018

EU anti-fraud office reported "established system of organised fraud" in Hungarian public lighting contracts awarded to company once owned by PM's son-in law, but Hungarian prosecutors said they found no evidence of criminal offence.

Belarusian supermarket chain Eurotorg postpones its IPO

bne IntelliNews November 6, 2018

Eurotorg (aka Euroopt) was due to be floated on the London Stock Exchange in what would have been the small northern republic’s first ever IPO but postponed the offering blaming poor market conditions.

Erdogan: Turkey will “absolutely not” abide by US sanctions imposed on Iran

bne IntelliNews November 6, 2018

Russia calls measures illegitimate, while EU makes frustratingly slow progress in creating SPV to shield trade with the Iranians.

Ukraine's prosecutor general identifies $5.5bn of assets bought with looted PrivatBank funds

Ben Aris in Berlin November 6, 2018

A long list of yachts, Picasso paintings, mansions, factories and other assets were bought with the $5.5bn looted from the country’s largest bank Privatbank.

Russia’s Deposit Insurance Agency considers upping maximum covered deposits to RUB2mn

bne IntelliNews November 6, 2018

DIA seeks to reassure the population which was shaken over the summer by rumours the government was planning to forcibly convert their dollar savings into rubles.

SWIFT suspends Iranian banks’ use of interbank transfer network

bne IntelliNews November 5, 2018

Move intensifies fears that hardline US sanctions regime could lead to food and medicine shortages in Iran.

Russia to double support to local winemakers

bne IntelliNews November 5, 2018

Russia's Ministry of Agriculture will more than double the state support to domestic winemakers to RUB3bn ($45mn) in 2019 up from RUB1.4bn in 2018, Interfax reported citing the deputy minister Oksana Lut.

Naftogaz began work on “Plan B” in case the Nord Stream 2 gas pipeline is completed

bne IntelliNews November 5, 2018

Ukraine’s state-owned gas monopolist Naftogaz's worst fears of losing its Russian gas transit business could come true after the Nord Stream 2 gas pipeline comes online in 2019

Ukraine exercises its call option on the expensive August $725mn Eurobonds

bne IntelliNews November 5, 2018

The Eurobond was issued as bridge financing to get the government through its repayments schedule this autumn.

Turkish inflation again worse than expectations but with a weaker punch

Akin Nazli in Belgrade November 5, 2018

Analysts see country as going through a brutal downturn and worry Erdogan administration will relent on monetary and fiscal discipline.

Iran in “war situation” says Rouhani as heavy US sanctions kick in

bne IntelliNews November 5, 2018

As state TV airs pictures of military manoeuvres, president vows to confront “bullying enemy” and overcome economic attack.

Boxing may be knocked out of Olympics after election of claimed Uzbek crime boss as association head

bne IntelliNews November 5, 2018

Only other candidate, Serik Konakbayev, a well-known Soviet-era boxer from Kazakhstan, may ask for a 'rematch' in bid to preserve sport's prestige.

“Buried” document stash links Romania’s ruling coalition leader to scandal-hit construction company

bne IntelliNews November 5, 2018

Documents apparently buried for over a year and discovered by chance revealed links between PSD leader Liviu Dragnea and Tel Drum, a construction company under investigation for suspected EU funds fraud.

Ukrainian acid attack victim Kateryna Handziuk dies of her injuries

Ben Aris in Berlin November 5, 2018

The attack on the 33-year-old activist touched a nerve in Ukraine, where killings of civil rights and anti-corruption figures have become increasingly common.

Jaguar Land Rover opens engineering centre in Budapest

bne IntelliNews November 4, 2018

Hungary's vehicle sector has been the main target for investors in the country, who have received generous cash subsidies and tax breaks.

Serbia, Romania, Bulgaria and Greece plan joint bid to host 2030 World Cup

Carmen Simion in Bucharest November 4, 2018

A successful bid would require billions of euros to be spent on building new stadiums and improving transport infrastructure.

IRAN BLOG: Bully boy Trump mocks Iranians with ‘GoT’ economic winter meme

Will Conroy in Prague November 3, 2018

No exceptions made for shipments of basic foods and medicines in big sanctions announcement. LOL?

Armenia pushes out Moscow-led military bloc chief ahead of general election

Will Conroy in Prague November 2, 2018

Move sharpens interest in how relations between Yerevan and the Kremlin might evolve if post-revolution “people power” coalition secures expected landslide.

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