Latest Updates

MACRO ADVISORY: Uzbekistan Terraforming: Privatization is the next stage

Since the election of Shavkat Mirziyoyev in December 2016, Uzbekistan has been on a fast-track programme to transform what was, for the previous 25 years, a no-go investment zone. Privatisation is the next step.

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COMMENT: Russian offshore? Not so fast...

The two offshore zones established in Russia last August for the purposes of tempting foreign-based Russian businesses back to the Motherland have yet to catch on.

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COMMENT: Russia’s GDP growth slows in 1Q19, challenging the policy framework

Russian GDP growth slowed from 2.7% year on year in 4Q18 to just 0.5% y/y in 1Q19, well below expectations. Unlike most commentators, we attribute this slowdown to a pause in the state CAPEX rather than to the VAT hike.

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Mirror, mirror, on the wall, who is the biggest grain exporter of them all?

The race is on between Ukraine and Russia for the title of “world’s biggest grain exporter” and the two rivals are running neck and neck.

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BRICKS & MORTAR: Russian real estate market getting back on its feet

Russia’s real estate market is back in play after investment rose by 30% y/y in the first quarter of this year, reports JLL – the best result in the last three years.

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VOX: Moldova's banking sector turns the corner

Following the shock of the $1bn stolen from the banking sector in 2014 the government has got its act together and is transforming the business, with some help from the EBRD.

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Political fighting intensifies in Poland as film documenting Catholic clergy's abuse of kids goes viral to millions

The film’s skyrocketing popularity has forced political leaders take positions on the issue as the campaign for the European Parliament elections heats up.

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War, huh… What is it good for?

Trump and Iran’s Khamenei were on May 14 among many taking on the question of whether a military showdown between the US and the Islamic Republic is on the cards.

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COMMENT: Russia's controversial sovereign internet bill will stoke the very protests it is designed to quell

Russian President Vladimir Putin on May 1 signed the controversial sovereign internet bill into law. It will come into force November 1 despite the concern, confusion and even ridicule on show during its State Duma readings.

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Turkey has closed its ports to Iranian oil: reports

Turkey’s consumer confidence index collapses 14%

Rouhani wants wartime executive powers to address “economic war” waged by US on Iran

Turkey has closed its ports to Iranian oil: reports

If the move is confirmed it would fly in the face of aggressive rhetoric from Ankara in which it has said the US cannot deny it the right to import energy shipments from its neighbour.

Turkey’s consumer confidence index collapses 14%

May’s reading is the lowest ever recorded since the data compilation began 15 years ago. Renewed weakening of lira appears to have hit sentiment.

Rouhani wants wartime executive powers to address “economic war” waged by US on Iran

Iranian president says Trump’s approach to tensions means "today’s situation is not suitable for talks and our choice is resistance only".

News

Ukraine faces political crisis as newly sworn-in President Zelenskiy dissolves parliament

Volodymyr Zelenskiy announced the dissolution of the nation's parliament immediately after he was sworn in on May 20.

Turkish government’s gross debt stock hits new high in April after lira’s latest travails

State budget fiscal metrics currently more vulnerable to a currency crisis than they were before last summer’s nasty episode. And fresh market turmoil is widely expected.

Cyprus threatens “arrest warrants” over Turkish drilling

As Turkey’s first ever drillship, escorted by a naval frigate, prepares to start operations, Ankara declares it “does not recognise the unilateral and illegitimate exclusive economic zone claims of the Greek Cypriots”.

Czech energy company Sev.en to acquire Swiss Alpiq Generation for €7.2bn

Sev.en Energy won tender to buy the operator of CHP plants in Kladno a Zlin after it announced an ambitious programme of international expansion.

Russian court rules against Baring Vostok fund in OEB case

The Russian regional Amur arbitration court has ruled against Baring Vostok Capital Partners (BVCP) in the controversial case for the control of 9.99% in the Oriental Express Bank (OEB or Vostochniy), ordering the fund to sell its stake in the bank

Ukraine faces political crisis as newly sworn-in President Zelenskiy dissolves parliament

1 day ago

Turkish government’s gross debt stock hits new high in April after lira’s latest travails

1 day ago

Cyprus threatens “arrest warrants” over Turkish drilling

1 day ago

Czech energy company Sev.en to acquire Swiss Alpiq Generation for €7.2bn

4 days ago

Russian court rules against Baring Vostok fund in OEB case

4 days ago

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Tech

Southeast Europe's first P2P lending platform launched in Moldova

Fagura Marketplace is a credit market based on P2P lending technology, where people looking for loans at a lower percentage than the financial market meet with investors.

First phase of ZalaZone race track inaugurated in Western Hungary

The Zalaegerszeg race track, one of its kind in the CEE region, has been specifically designed to test autonomous, connected, and electric vehicles.

MOL teams up with InoBat on hydrogen fuel cell development

The Hungarian company is pursuing alternative investments in line with its long-term strategy as it seeks to decrease dependence on its core business.

Iran erecting native firewall amid fears of intensified Israeli, US cyberwarfare

Since the Stuxnet virus wrought havoc at its Natanz nuclear site, Iranian university scientists have stepped up efforts to protect industry and infrastructure.

Facebook bans ads of Hungarian government-friendly media conglomerate

Mediaworks, which is closely aligned with the ruling conservative Fidesz, says there are "political and ideological reasons" for the decision.

Southeast Europe's first P2P lending platform launched in Moldova

21 hours ago

First phase of ZalaZone race track inaugurated in Western Hungary

1 day ago

MOL teams up with InoBat on hydrogen fuel cell development

1 day ago

Iran erecting native firewall amid fears of intensified Israeli, US cyberwarfare

5 days ago

Facebook bans ads of Hungarian government-friendly media conglomerate

6 days ago

More Tech

Opinion

COMMENT: Russia keeps accumulating foreign assets, sales of OFZ bonds driving exchange rate

April balance of payments confirms the corporate preference to convert export proceeds into international assets, making foreign inflows into local state bonds the only support factor for the ruble exchange rate

COMMENT: Technology can reduce the global plastic pollution problem

Annual global production of plastics has increased dramatically, from 15mn metric tons in 1964 to over 350mn metric tons now, however, a new technology can break down polymers and effectively recycle them

ANALYSIS: Trump offers talks after parking B-52s and aircraft carrier on Iran’s doorstep. Spot the “rogue nation”

Revolutionary Guard says no negotiations will be held with “unreliable Americans”. Adds US “will not dare take military action against us”.

COLCHIS: Zelenskiy faces tough choices amidst high expectations

Zelenskiy is allegedly supported by powerful Ukrainian oligarch and Poroshenko’s arch-rival Igor Kolomoyskiy. Ukrainian voters obviously believed that Zelenskiy was the lesser of two evils. What went into making that choice?

COMMENT: Chinese engagement in CESEE: paper dragons and false inevitabilities?

The Belt and Road Initiative (BRI) is no less than an attempt by the Chinese to reshape the international order, but it has acted as a strategic opportunist and has no clear development plan.

COMMENT: Russia keeps accumulating foreign assets, sales of OFZ bonds driving exchange rate

1 day ago

COMMENT: Technology can reduce the global plastic pollution problem

8 days ago

ANALYSIS: Trump offers talks after parking B-52s and aircraft carrier on Iran’s doorstep. Spot the “rogue nation”

11 days ago

COLCHIS: Zelenskiy faces tough choices amidst high expectations

13 days ago

COMMENT: Chinese engagement in CESEE: paper dragons and false inevitabilities?

18 days ago

More Opinion

Data

Hungary has EU's highest rate of increase in new residence permits

Budapest eased restrictions on the employment of non-EU citizens in an effort to manage the labour crunch.

Budgetary responsibility council's forecast for Slovakia's GDP growth at 3.7% in 2Q19

Slovakia's economy will increase by 3.7% of GDP in 2Q19 and by 3.8% of GDP in 2019, according to May short-term economic forecast, published by the Budgetary Responsibility Council in its forecast from May 20, drawing attention to growth risks, inclu

Russia's GDP disappoints in 1Q19 with 0.5% growth

Russia's GDP growth slowed notably to 0.5% year-on-year in 1Q19, down from the strong 2.7% y/y seen in 4Q18 and 1.9% y/y in 1Q18, according to the preliminary data by Rosstat statistics bureau.

Albania’s 4-mоnth trade gap widens 9.3% y/y

Albania has historically run a substantial trade deficit caused by its narrow production and export base, and has partly funded this with remittances from Albanians living abroad.

Turkish private sector’s 1-year FX loan repayment obligations fall 3% m/m to $60.4 bn in March

Assessing economic flashpoints on horizon, analyst says external debts equal to around 24% of Turkey’s GDP need to be serviced over the next 12 months, leaving the lira vulnerable to bouts of risk aversion.

Hungary has EU's highest rate of increase in new residence permits

8 hours ago

Budgetary responsibility council's forecast for Slovakia's GDP growth at 3.7% in 2Q19

1 day ago

Russia's GDP disappoints in 1Q19 with 0.5% growth

1 day ago

Albania’s 4-mоnth trade gap widens 9.3% y/y

4 days ago

Turkish private sector’s 1-year FX loan repayment obligations fall 3% m/m to $60.4 bn in March

5 days ago

More Data

Features

Poland overtakes Russia to become Ukraine’s biggest trade partner in February

Russia has long been Ukraine’s main trade partner, but relations have crumbled since the annexation of the Crimea in 2014 and trade has fallen thanks to numerous embargoes as the two countries are fighting an undeclared war.

Kazakhstan’s banking sector under pressure, bracing for more M&A or defaults

Fears of a fresh banking crisis are mounting in Kazakhstan thanks to a backdrop of rising political risk in the lead-up to snap presidential elections in June and debt. More mergers and liquidations are in store.

Ukraine’s banks are back in profit, provisions made bad debt non-toxic

Ukraine’s banking sector has returned to profit, and while non-performing loans remain extremely high, those profits have allowed the banks to make provisions for their bad debt, which is no longer regarded as “toxic” by analysts.

Golden keys to the EU’s back door

While EU members are taking steps to end or phase out investment for citizenship programmes, the opposite is happening in some potential future members.

ISTANBUL BLOG: Turkey mired in ‘death of democracy’ outrage—but global lenders are unfazed

Erdogan party hacks nevertheless ask why markets give this particular authoritarian regime such a hard time. Answer may be its lack of technocrats with freedom to run macro policy. Lickspittles get you nowhere.

Poland overtakes Russia to become Ukraine’s biggest trade partner in February

9 days ago

Kazakhstan’s banking sector under pressure, bracing for more M&A or defaults

12 days ago

Ukraine’s banks are back in profit, provisions made bad debt non-toxic

12 days ago

Golden keys to the EU’s back door

12 days ago

ISTANBUL BLOG: Turkey mired in ‘death of democracy’ outrage—but global lenders are unfazed

12 days ago

More Features

Blogs

MOSCOW BLOG: Can Russia halve its poverty level?

President Putin unveiled a very ambitious reform plan during his state of the nation speech on March 1 last year. Among the ambitious goals — some say unattainable goals — the president called for a drastic reduction in poverty.

VISEGRAD BLOG: Poland shocked by film documenting Catholic clergy’s sexual abuse of children

“Just Don’t Tell Anyone” neared 6mn views just 36 hours after its premiere on YouTube, shaking up Poland's political landscape ahead of the European Parliament elections.

TEHRAN BLOG: As US hawks go for its jugular, Iran issues gentle ultimatum to Europe

Iranians place a slow-ticking time bomb under nuclear deal but hand Europeans very clear instructions on how to defuse it.

BALKAN BLOG: Montenegro braces for verdicts in "Trial of the century"

As the coup plot trial that has gripped the Montenegrin nation nears its end, the opposition Democratic Front is preparing to defend its leaders from police arrest.

TEHRAN BLOG: Iran ‘set to scale down nuclear deal undertakings’ as US cranks up pressure on multiple fronts

Washington’s assault on oil exports and civilian nuclear energy, designation of elite Iranian troops as “terrorist” and dispatch of an aircraft carrier drawing a response from Tehran.

MOSCOW BLOG: Can Russia halve its poverty level?

8 days ago

VISEGRAD BLOG: Poland shocked by film documenting Catholic clergy’s sexual abuse of children

8 days ago

TEHRAN BLOG: As US hawks go for its jugular, Iran issues gentle ultimatum to Europe

13 days ago

BALKAN BLOG: Montenegro braces for verdicts in "Trial of the century"

14 days ago

TEHRAN BLOG: Iran ‘set to scale down nuclear deal undertakings’ as US cranks up pressure on multiple fronts

15 days ago

More Blogs

Latest Updates

News

Volodymyr Zelenskiy announced the dissolution of the nation's parliament immediately after he was sworn in on May 20.

State budget fiscal metrics currently more vulnerable to a currency crisis than they were before last summer’s nasty episode. And fresh market turmoil is widely expected.

As Turkey’s first ever drillship, escorted by a naval frigate, prepares to start operations, Ankara declares it “does not recognise the unilateral and illegitimate exclusive economic zone claims of the Greek Cypriots”.

Sev.en Energy won tender to buy the operator of CHP plants in Kladno a Zlin after it announced an ambitious programme of international expansion.

The Russian regional Amur arbitration court has ruled against Baring Vostok Capital Partners (BVCP) in the controversial case for the control of 9.99% in the Oriental Express Bank (OEB or Vostochniy), ordering the fund to sell its stake in the bank

Tech

Fagura Marketplace is a credit market based on P2P lending technology, where people looking for loans at a lower percentage than the financial market meet with investors.

The Zalaegerszeg race track, one of its kind in the CEE region, has been specifically designed to test autonomous, connected, and electric vehicles.

The Hungarian company is pursuing alternative investments in line with its long-term strategy as it seeks to decrease dependence on its core business.

Since the Stuxnet virus wrought havoc at its Natanz nuclear site, Iranian university scientists have stepped up efforts to protect industry and infrastructure.

Mediaworks, which is closely aligned with the ruling conservative Fidesz, says there are "political and ideological reasons" for the decision.

Opinion

April balance of payments confirms the corporate preference to convert export proceeds into international assets, making foreign inflows into local state bonds the only support factor for the ruble exchange rate

Annual global production of plastics has increased dramatically, from 15mn metric tons in 1964 to over 350mn metric tons now, however, a new technology can break down polymers and effectively recycle them

Revolutionary Guard says no negotiations will be held with “unreliable Americans”. Adds US “will not dare take military action against us”.

Zelenskiy is allegedly supported by powerful Ukrainian oligarch and Poroshenko’s arch-rival Igor Kolomoyskiy. Ukrainian voters obviously believed that Zelenskiy was the lesser of two evils. What went into making that choice?

The Belt and Road Initiative (BRI) is no less than an attempt by the Chinese to reshape the international order, but it has acted as a strategic opportunist and has no clear development plan.

Data

Budapest eased restrictions on the employment of non-EU citizens in an effort to manage the labour crunch.

Slovakia's economy will increase by 3.7% of GDP in 2Q19 and by 3.8% of GDP in 2019, according to May short-term economic forecast, published by the Budgetary Responsibility Council in its forecast from May 20, drawing attention to growth risks, inclu

Russia's GDP growth slowed notably to 0.5% year-on-year in 1Q19, down from the strong 2.7% y/y seen in 4Q18 and 1.9% y/y in 1Q18, according to the preliminary data by Rosstat statistics bureau.

Albania has historically run a substantial trade deficit caused by its narrow production and export base, and has partly funded this with remittances from Albanians living abroad.

Assessing economic flashpoints on horizon, analyst says external debts equal to around 24% of Turkey’s GDP need to be serviced over the next 12 months, leaving the lira vulnerable to bouts of risk aversion.

Features

Russia has long been Ukraine’s main trade partner, but relations have crumbled since the annexation of the Crimea in 2014 and trade has fallen thanks to numerous embargoes as the two countries are fighting an undeclared war.

Fears of a fresh banking crisis are mounting in Kazakhstan thanks to a backdrop of rising political risk in the lead-up to snap presidential elections in June and debt. More mergers and liquidations are in store.

Ukraine’s banking sector has returned to profit, and while non-performing loans remain extremely high, those profits have allowed the banks to make provisions for their bad debt, which is no longer regarded as “toxic” by analysts.

While EU members are taking steps to end or phase out investment for citizenship programmes, the opposite is happening in some potential future members.

Erdogan party hacks nevertheless ask why markets give this particular authoritarian regime such a hard time. Answer may be its lack of technocrats with freedom to run macro policy. Lickspittles get you nowhere.

Blogs

President Putin unveiled a very ambitious reform plan during his state of the nation speech on March 1 last year. Among the ambitious goals — some say unattainable goals — the president called for a drastic reduction in poverty.

“Just Don’t Tell Anyone” neared 6mn views just 36 hours after its premiere on YouTube, shaking up Poland's political landscape ahead of the European Parliament elections.

Iranians place a slow-ticking time bomb under nuclear deal but hand Europeans very clear instructions on how to defuse it.

As the coup plot trial that has gripped the Montenegrin nation nears its end, the opposition Democratic Front is preparing to defend its leaders from police arrest.

Washington’s assault on oil exports and civilian nuclear energy, designation of elite Iranian troops as “terrorist” and dispatch of an aircraft carrier drawing a response from Tehran.

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Romania has been growing very fast in recent years and GDP per capita has doubled. But that growth is about to slow and while inco....

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