Southeast Europe / News

Turkey ‘on road to recession and stagflation’ despite Q2 GDP of 5.2%

Will Conroy in Prague. September 10, 2018

Capital sees Turkish economy contracting 2-4% y/y in H2 and early 2019.

Protest pianist brings harmony to Bucharest’s Victory Square

Carmen Simion in Bucharest September 9, 2018

Davide Martello plays The Beatles at a demonstration marking the one-month anniversary of a brutal intervention by the gendarmerie at an anti-government protest in Bucharest.

Turkish lira rallies as traders buy into expectations of rate rise

Will Conroy in Prague September 7, 2018

Analysts, however, warn of a false dawn, pointing out political pressure could limit the central bank’s room for manoeuvre.

Zijin taps deeper into Serbian copper sector with €1.2bn Nevsun takeover

bne IntelliNews September 5, 2018

Just days after being picked as the strategic investor in Serbia’s RTB Bor copper complex, the Chinese mining giant bid successfully for mining company Nevsun.

Budget revision the new battleground between Romanian government and president

Iulian Ernst in Bucharest September 5, 2018

Proposed revision will raise spending but cut funds for the presidency and intelligence services which government officials claim are controlled by a "parallel state" trying to take over political power in the country.

Albania makes new attempt to impose road tolls after rioters burn down toll booths

bne IntelliNews September 4, 2018

Tirana sought to avoid a repeat of the violent riots in March by slashing tariffs for local residents who depend on the Durres-Kukes motorway.

Croatian shipbuilder Uljanik plunged back into crisis

Carmen Simion in Bucharest September 4, 2018

Accounts of Croatia’s largest shipbuilder frozen again after four major orders cancelled, shortly after workers end strike over unpaid wages.

Blair to lobby Salvini for TAP pipeline completion

bne IntelliNews September 4, 2018

Environmental objections in Italy pose threat to last leg of Southern Gas Corridor designed to deliver Azerbaijani gas to EU.

Bulgaria’s ruling coalition shaken by resignations

Denitsa Koseva in Sofia September 4, 2018

Deputy PM Valeri Simeonov has threatened to withdraw his hard right NFSB from the coalition led by Boyko Borissov after the PM told three ministers to resign over the deadly Svoge bus crash.

Tanking lira drives Turkey’s inflation to 17.9% in August

Will Conroy in Prague September 3, 2018

Central bank says it is set to adjust its monetary stance, but market consensus is that it will not deliver the required radical rate hike given political pressure.

Tensions rise within Romania’s ruling PSD after protest violence

Carmen Simion in Bucharest September 3, 2018

Popular Bucharest mayor Gabriela Firea called for the resignation of Interior Minister Carmen Dan, a close ally of the party's increasingly embattled leader Liviu Dragnea.

Moldova’s central bank maintains hawkish monetary policy

Iulian Ernst in Bucharest September 3, 2018

Decision to keep the policy interest rate at 6.5% indicates the central bank considers the healing of the banking system from the $1bn frauds that culminated in 2014 is not yet completed.

Three Bulgarian ministers resign over bus crash that killed 17

Denitsa Koseva in Sofia August 31, 2018

PM Boyko Borissov's government in the hotseat amid speculation that deadly bus crash was caused by poor road construction and maintenance.

Romanian president slams government over poor management of African swine fever crisis

Carmen Simion in Bucharest August 30, 2018

Klaus Iohannis warns big farms in southeast Romania will be “virtually exterminated” by the crisis, resulting in damages of tens of millions of euros and thousands of lost jobs.

Capital: Turkey entering a steep recession

Will Conroy in Prague August 30, 2018

Economy set to contract 2-4% in Q4 says report as lira’s plunge accelerates past 6.75 to the dollar.

Moody’s downgrades Turkish lenders and corporates, lira slides past 6.40

Akin Nazli in Belgrade August 29, 2018

Downgrades primarily reflect substantial rise in risk of a downside scenario, where a further negative shift in investor sentiment could lead to a curtailing of wholesale funding.

Chinese Zijin and Russian Ugold in the running for Serbian mining giant RTB Bor

bne IntelliNews August 29, 2018

Field narrows to two after Canada's Diamond Fields is disqualified, but comments by Serb officials indicate Zijin is the preferred investor.

Bosnian journalists protest after brutal attack on reporter

Denitsa Koseva in Sofia August 29, 2018

BN TV reporter Vladimir Kovacevic was beaten up in front of his home after reporting on protests seeking justice for 21-year-old David Dragicevic, who died under suspicious circumstances in March.

“Turkey pretty much untradable” says BlueBay

bne IntelliNews August 28, 2018

Investors badly need some clarity on economic policy moving ahead concludes analyst as lira resumes its slide.

Western Balkans ministers push regional economic integration at Durres meeting

bne IntelliNews August 28, 2018

Creating a regional economic zone is seen as a way to boost trade and investment and has been strongly encouraged by EU officials.