Russia's Rosneft launches first ever share buyback programme as part of investment makeover

bne IntelliNews August 6, 2018

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

China refuses US request to stop buying Iranian oil, big blow dealt to sanctions strategy

bne IntelliNews August 5, 2018

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

bne IntelliNews August 5, 2018

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

bne IntelliNews August 3, 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

Akin Nazli in Belgrade August 3, 2018

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

Ben Aris in Berlin August 3, 2018

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

Jaroslav Hroch in Prague August 3, 2018

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%.

Russia's Nord Stream 2 pipeline ready to bypass Denmark painlessly

bne IntelliNews August 2, 2018

Russia's gas pipeline Nord Stream 2 to Germany via the Baltic Sea can bypass Denmark with no additional cost, thus removing the last obstacle to construction as Denmark was the last country to not issue the construction permit

Russia's crude output up by 2.4% in July, ahead of Opec+ cut

bne IntelliNews August 2, 2018

Russia's total crude oil output in July 2018 stood at 11.22mn barrels daily, up by 1.4% month-on-month and 2.4% year-on-year, according to the August 2 Ministry of Energy report.

Russia's CBR prepares to sell first of bailed banks

bne IntelliNews August 2, 2018

The Central Bank of Russia (CBR) is preparing to sell the Asian-Pacific Ocean Bank (Aziatsko-Tikhookenskiy Bank, ATB), which was bailed by the regulator in a four-year sector clean-up drive completed in 2017.

Investors wary of Turkey’s tipping point as US sanctions knock lira to 5.09

Akin Nazli in Belgrade and Will Conroy in Prague August 2, 2018

With the 10-year domestic bond yield testing a new high of 19.48%, markets pin hope on meeting between top diplomats at Asean summit.

Leading Hungarian lender OTP to acquire Bulgarian, Albanian units of Societe Generale

bne IntelliNews August 2, 2018

The deal fits well with OTP's strategy to prioritise foreign expansion and grow in the Central and Southeast European markets where it is already present but has a small market share.

US Treasury postpones deadline on Deripaska sanctions again

bne IntelliNews August 2, 2018

The US Treasury Department (USTD) again prolonged the deadline for shedding assets and borrowings of companies of sanctioned Russian tycoon and Kremlin insider Oleg Deripaska to October 23.

US hits Turkey with sanctions over Brunson

Will Conroy in Prague August 1, 2018

Turkish lira collapses past the 5.00 threshold to all-time low, analysts ponder threat to cohesion of Nato and traders wonder if a currency-and-debt crisis is on the cards.

Brutal terrorist attack in Tajikistan savage blow to fledgling tourism industry efforts

bne IntelliNews August 1, 2018

Officials who declared 2018 a Year of Tourism will be horror-struck by apparent IS ambush in nation’s celebrated “Roof of the World” region.

Moldova’s government to tackle growing problems of railway company CFM

Iulian Ernst in Bucharest August 1, 2018

Prime Minister Pavel Filip hinted that besides bad management, fraud could have caused the losses incurred by the troubled rail company, which is slated for restructuring.

BMW picks Hungary to build its next European plant with a €1bn investment

bne IntelliNews August 1, 2018

BMW is the third premium car maker after Audi and Mercedes to establish a production facility in Hungary, which has become a major car producer.

“Ball in Europe’s court” in effort to salvage Iran nuclear deal says Rouhani

bne IntelliNews July 31, 2018

Iranian officials also make it clear they see no value in talking to Donald Trump.

Kazakhstan launches government bond settling via Clearstream

Kanat Shaku in Almaty July 31, 2018

Move to provide easier access to foreign investors and lower cost of borrowing for Astana.