News
Zarif to Trump: Iran oil ban will fail, “world is sick & tired of US unilateralism”
Emboldened by China’s refusal to stop buying his country's crude, Iranian foreign minister says the world won’t follow “impulsive tweeted diktats”.
Hydropower rebounds in the Western Balkans
After a severe drought caused hydropower generation to slump in the Western Balkans last year, the latest data show a sharp rebound in hydroelectricity production in the first half of 2018.
Capital: Bank fragilities could turn a Turkish recession into “full-blown crisis”
Turkey’s private sector credit-to-GDP ratio rose 45pp in 15 years to above 60%.
Asian investors replace western players in Russia's FDI
Foreign investors put up capital for 238 projects in 2017 — a record number for Russia according to EY. While a number of investments from western countries are on hold, their absence is more than made up for by new investors from Asia.
Czech CEZ reportedly sues Bulgaria over banned asset sale
In July, the CPC ruled that the highly controversial sale of CEZ's assets to local firm Inercom could not be completed as it would give the buyer excessive power on the photovoltaic electricity market.
Europe: Ignore Trump’s call not to do business with Iran
As US president barks his latest demands on Twitter, Brussels encourages waves of small and medium sized businesses to help prop up the Iranian economy.
Russian Audit Chamber to get stronger anti-corruption mandate
Russia's Audit Chamber, which recently got a new boss, heavyweight policymaker Alexei Kudrin, is demanding a broader mandate to fight corruption, position itself as the know-how centre and the go-to anti-corruption institution.
Turkey perilously stranded on edge of out and out currency-and-debt crisis
As markets search for an escape route, president and finance minister are accused of being MIA. Corporate balance sheets, meanwhile, slipped closer to the abyss.
Hungarian opposition blasts government for hefty state funding to BMW
Officials haven't disclosed how much is being extended to BMW but there is speculation it could be as high as €90mn — which opposition leaders say would be better spent on Hungarian businesses.
Rightwing Macedonian parties to boycott name deal referendum
Pro-Russian United Macedonia party leads the “Macedonia Boycotts” campaign, raising further suspicions of a Russian campaign to derail the referendum that is a critical step on Macedonia's path to EU and Nato.
Turkish lira crashes to new record low of 5.42 against the dollar
Neverending stream of bad news ends with final hammer blow from Trump as he presses button on sanctions against Turkey’s neighbour Iran.
Trump triggers Iran sanctions, EU unveils updated ‘blocking statute’
US plan to strangle Iranian economy faces varying degrees of resistance from Europe, China, Turkey and India, among others.
Ukraine selects privatisation advisers for first six companies to go on the block this year
Ukraine’s privatisation programme has been gathering some momentum but it has struggled to sell the star companies that could bring in billions of dollars.
Russia's Rosneft launches first ever share buyback programme as part of investment makeover
Russia's largest oil company state-controlled Rosneft has launched the company’s first ever share buyback programme worth $2bn that will last until December 2020 acquiring a maximum of 340mn or 3.2% of company's share capital and a third of freefloat
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China refuses US request to stop buying Iranian oil, big blow dealt to sanctions strategy
Beijing’s decision a big breakthrough for Tehran—the Chinese buy third of Iran’s crude.
Fears of unrest in Serb-dominated northern Kosovo after Pristina misses critical deadline
August 4 was the deadline for the Kosovan authorities to establish the Community of Serb Municipalities, an important step in the EU-mediated normalisation process between Belgrade and Pristina.
Belarus' growth of 4.5% almost twice expected rate in first half of 2018
Rate comes in at almost twice the 2.8% forecast at the start of the year.
Better-than-expected July inflation in Turkey puts brake on descent of lira
Day nevertheless sees currency hit new all-time low prior to finance minister giving interview indicating he wants to 'have his Turkish delight and eat it too'.
US to impose “crushing” set of sanctions on Russia’s debt and oil
A proposed "crushing" bipartisan bill introduced by the US Senate on August 2 will not be debated until the autumn and many of the harsh terms could be considerably watered down, Luis Saenz, the co-head of equities at BCS Global Markets said
CNB hikes rates by 0.25 pp in first back-to-back increase in 11 years
Rate increase to 1.25% was expected due to strong wage growth, a weaker koruna than anticipated, and inflation exceeding the CNB target of 2%.