Southeast Europe / News

EBRD takes 41% in Moldova’s biggest bank MAIB as banking sector turnaround begins

Ben Aris in Berlin October 2, 2018

Moldova has been a banking black hole for more than two decades. But a deal where the EBRD and two funds take 41% in the country's biggest bank suggests the financial sector may be turning the corner.

UK foreign secretary alienates CEE by likening EU to Soviet Union

Wojciech Kosc in Warsaw October 2, 2018

Jeremy Hunt scores own goal as he angers politicians in countries that had been advocating a lenient approach to Brexit.

European Commission to take Romania to court if revised justice laws "break the rules"

Iulian Ernst in Bucharest October 2, 2018

EC First Vice-President Frans Timmermans warns Bucharest over changes to justice laws and criminal codes that threaten the rule of law.

Energy Community warns Bosnia over guarantee for Tuzla power plant expansion

Denitsa Koseva in Sofia October 2, 2018

Bosnian Federation parliament is poised to approve guarantee for €614mn loan for controversial expansion of the Tuzla coal-fired power plant.

Political row as Turkey calls in McKinsey to help solve economic woes

Akin Nazli in Belgrade October 1, 2018

Government rebuts opposition line that it’s aiming to implement an IMF programme without the humiliation of using the IMF.

Turkey’s manufacturing PMI hits lowest point since 2009

Akin Nazli in Belgrade October 1, 2018

Capital Economics says data reaffirm that the Turkish economy is in recession. IHS Markit sees companies struggling to obtain supplies amid currency crisis.

Overwhelming majority of voters support name deal in Macedonia’s referendum but turnout very low

Valentina Dimitrievska in Skopje October 1, 2018

The failure to meet the psychologically important threshold of 50%+ one voter means it will be more difficult for PM Zoran Zaev to muster the two-thirds majority in parliament he needs for the changes to be passed.

Erdogan’s visit to Germany not without hitches but Turkish lira backers take heart

bne IntelliNews September 30, 2018

Despite diverging over human rights, Turkey’s leader and Merkel keep things diplomatic as they seek to rebuild relations between their closely interlinked economies.

Croatia’s Rimac to supply EV technology to Automobili Pininfarina in €80mn deal

Carmen Simion in Bucharest September 30, 2018

Electric super sports car producer seals new deal with Automobili Pininfarina three months after Porsche took at 10% equity stake.

Macedonians deeply divided ahead of crucial name deal referendum

Valentina Dimitrievska in Skopje September 28, 2018

Ruling party seeks to galvanise voters while president tells them to stay at home, as Macedonia prepares for vote that will determine whether its future lies inside the EU and Nato.

Did Uefa red card human rights 'fouls' in denying Turkey Euro 2024?

bne IntelliNews September 27, 2018

Outrage at Ankara’s conduct during state of emergency may have weighed on mind of European football governing body. Bid evaluation report identified hotel accommodation and transport infrastructure inadequacies.

Turkey’s Akbank concludes long-awaited syndicated loan renewal but costs more than double

Akin Nazli in Belgrade September 27, 2018

Breakthrough comes as country continues to fight currency collapse that could spark a banking crisis. Day also sees Turkish lira strengthen past the 6-to-the-dollar threshold.

Turkey’s Eminis Ambalaj files for bankruptcy protection amid currency crisis

Akin Nazli in Belgrade September 26, 2018

Turkish media reports suggest 47 companies in the country made the move in three-week period, but there is no official data.

Turkey’s business confidence index slumps to lowest level since 2009

Akin Nazli in Belgrade September 24, 2018

With the dark clouds of a deep recession gathering on the horizon, sentiment indicator falls 7% in a month.

Resolving situation at Uljanik shipyard could cost Croatia 1% of GDP, S&P warns

bne IntelliNews September 24, 2018

Troubled shipbuilder Uljanik could face bankruptcy if it fails to find a strategic investor.

PSD leader Dragnea retains control over Romania's ruling party

Iulian Ernst in Bucharest September 24, 2018

Liviu Dragnea defeated a dissident faction who sought his resignation, securing his position at the helm of Romania's ruling PSD — for now.