Southeast Europe / News

Turkish 3-year sukuk raises $2bn at 5.8% on soaring demand

Akin Nazli in Belgrade February 15, 2019

Erdogan administration attempting to shape more favourable economic picture ahead of elections. But latest unemployment data shows worrying signs of fallout from currency crisis.

As pips squeak in Turkey’s real sector central bank talks of “liquidity steps”

Akin Nazli in Belgrade February 14, 2019

Latest data: industrial output worse than expected, C/A back in deficit but seen as “great number”.

Turkey ‘cuts yield at 3-year USD sukuk auction to 5.9%’ on $3.5bn demand

Akin Nazli in Belgrade February 13, 2019

Turkish 5-year CDS up 5% w/w and 76% y/y but down 16% m/m.

Locals wonder if surprise S&P upgrade is in store for Turkey

Akin Nazli in Belgrade February 12, 2019

Markets discuss what’s brought an ‘early spring’ to Turkish markets. BAML survey finds EM assets now seen as “most crowded trade”.

Poland concedes setback in quest to stop Nord Stream 2

bne IntelliNews February 12, 2019

Warsaw's hopes of stopping the Nord Stream 2 gas pipeline were dashed, as Germany and France pushed through a compromise wording of amendments to EU’s gas market rules that will result in the weakening of the bloc’s joint control.

Erdogan cracks down on Turkey’s food “terror”: state stalls swinging votes with cheap veg

bne IntelliNews February 11, 2019

Pre-election strategy is to blame food inflation on ruthless retailers.

Serbian opposition parties launch parliament boycott in support of protests

Valentina Dimitrievska in Skopje February 11, 2019

Nationwide protests against President Aleksandar Vucic, numbering tens of thousands of people, have taken place weekly since early December.

As Turks remain stuck in fruit & veg queues, London analysts give a cautious thumbs-up to Turkey

Akin Nazli in Belgrade February 11, 2019

But is it all going L-shaped?

Think of the “price of a bullet” not that of a tomato: Erdogan

bne IntelliNews February 11, 2019

Threatened by soaring food inflation ahead of approaching elections, Turkey’s populist leader courts nationalist votes.

Greek parliament ratifies Nato accession protocol with Macedonia

Valentina Dimitrievska in Skopje February 10, 2019

Greece was the first Nato member to ratify the accession protocol after a landmark agreement between the neighbouring states opened the way for Macedonia — soon to be renamed North Macedonia — to join the Alliance.

Turkey’s Garanti Bankasi, Turk Telekom to issue eurobonds, Akbank seeks loan refinancing

Akin Nazli in Belgrade February 8, 2019

No official data available on total sum restructured by Turkish lenders. Banking watchdog has scrapped tables on loan restructurings in footnotes of lenders’ financials.

Big Istanbul ferry operator IDO in talks to restructure debt

bne IntelliNews February 8, 2019

Company part-owned by transport mogul Brian Souter hit by collapse of Turkish lira.

Croatia’s Uljanik selects local peer Brodosplit as strategic partner

Carmen Simion in Bucharest February 7, 2019

Shipbuilder Uljanik is in severe financial difficulties and has already lost several vessel construction deals.

Turkey’s inflation battle: municipalities to start fruit & veg sales

bne IntelliNews February 7, 2019

Finance minister refers to “food terror” in warning against price gougers “reaching into pockets of our citizens”.

Turks buying FX, foreigners buying Turkish shares since start of year

Akin Nazli in Belgrade February 7, 2019

Central bank’s gross FX reserves rise to $77bn after eurobond sales.

Kosovo signs €210mn railway upgrade project with Italy’s GCF

bne IntelliNews February 7, 2019

Reconstruction of line spanning Kosovo from Macedonia to Serbia to have a positive impact "in the region and beyond" says Kosovo Railways’ CEO.

Turkey sells €835mn two-year sukuk as new bet on FX debt continues

Akin Nazli in Belgrade February 6, 2019

Finance minister counts on foreign currency bond sales despite high costs and strong warnings.

Nato signs accession protocol with Skopje

Valentina Dimitrievska in Skopje February 6, 2019

Country to change name to North Macedonia within days, as it prepares to become Nato's 30th member and start EU accession talks.

Moldova’s pro-Russian president might have his own government soon, poll shows

Iulian Ernst in Bucharest February 6, 2019

IRI shows Igor Dodon's Socialists taking the largest share of the vote, well ahead of both the ruling Democratic Party and the pro-EU opposition.

Erdogan returns to plan to nationalise Turkey’s Isbank

bne IntelliNews February 5, 2019

Its shares fall more than 6% as strongman says parliament will strip opposition party of its stake bequeathed by Ataturk.