Latest Updates

TURKEY INSIGHT: “How long can this go on?” The puzzle of Borsa Istanbul’s foreign-held shares boom

Stock exchange may be rallying but the data on why is just not available to investors playing these murky markets.

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TURKEY INSIGHT: How long can the Turkey ETF rally last?

No-one wants to rain on the parade, but it would be folly to ignore the “debt volcano” and a competition probe into Turkish banks launched by officials of an administration that “needs some cash”.

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OUTLOOK 2020 Georgia

Country goes into general election year after wave of street protests against deviations from democracy. There is major political uncertainty, but the economy remains surprisingly robust.

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East Asian investors ramp up investments in Central and Eastern Europe

China became the top investor in CEE in 2019, leading fellow East Asian investors that accounted for a growing share of M&A in the region. More deals are expected to follow, says a new report from law firm CMS.

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ALACO DISPATCHES: What lies behind oligarch impunity in Ukraine

Efforts to investigate financial crimes have been largely unsuccessful due to endemic corruption within the judiciary.

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MOSCOW BLOG: Is Putin a megalomaniac?

Is Russian President Vladimir Putin a megalomaniac? The reaction of the commentatori to the huge changes in Russia’s political DNA suggested by the president was kneejerk and entirely predictable.

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OUTLOOK 2020 Azerbaijan

The tectonic plates holding together Azerbaijan’s clanocracy are shifting. Economists say a massive restructuring of the economy is needed to benefit ordinary citizens.

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OUTLOOK 2020 Armenia

Growth driven by private consumption expected at around 5% in post-revolution “anti-corruption” administration’s third year. Country’s ratings improving with transition seen as success to date. Popular government may fear taking on painful reforms.

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UPDATED: Russian Prime Minister Dmitry Medvedev and entire Russian government quit

In what looks like a coordinated piece of political theatre, Medvedev said he thought it was “appropriate” to leave after President Vladimir Putin announced changes to the constitution that would have given Medvedev a lot more power.

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Western Balkans countries sink on latest Corruption Perceptions Index

US likely to bristle at new Iran plan to put satellite in orbit

Immigration helps ease CEE labour crisis

Western Balkans countries sink on latest Corruption Perceptions Index

Poor performance on latest index from Transparency International comes after years of warnings of the risks of democratic backsliding in the region should states fail to progress towards EU accession.

US likely to bristle at new Iran plan to put satellite in orbit

Washington accuses Iranians of using space rocket programme as cover for efforts aimed at developing nuclear payload missiles. Islamic Republic’s last launch effort ended in space centre explosion.

Immigration helps ease CEE labour crisis

The labour shortages that have threatened to limit economic expansion in Central and some parts of Southeast Europe have started to ease in some countries, with increased labour migration a contributing factor.

News

Ukraine’s population falls behind Poland’s for the first time, electronic census says 5mn people lost since 2000

Ukraine’s population fell behind that of Poland for the first time as an electronic census revealed the number of citizens had fallen by some 5mn people to 37.289mn since the last census in 2000.

Ukraine’s domestic bond market off to a strong start in 2020 as yields fall below 10%

Ukraine’s domestic bond market got off to a strong start in 2020 as heavy bidding at the weekly auction on January 22 depressed yields to 10%. A year ago Ukraine bonds were yielding 19%.

President of war-hit Ukraine offers 'investment nanny, tax holidays' to potential investors

Any potential investor who invests more than $100mn in Ukraine, will get a personal "guardian" from the government, according to President Volodymyr Zelenskiy, who is at the Davos conference to talk up Ukraine’s investment case.

Russian Aeroflot carrier taking off for stellar 2020

Analysts are increasingly keen on the stocks of Russian national air carrier Aeroflot after it had a terrible 2019.

Turkey’s top private lender Isbank sells $750mn of 10-year Basel III eurobonds, others awaited

Turkey’s 5-year credit default swaps fell below 250bp on January 15 and have remained in the 240s since then. Record 566bp was seen in after the lira crisis.

Ukraine’s population falls behind Poland’s for the first time, electronic census says 5mn people lost since 2000

11 hours ago

Ukraine’s domestic bond market off to a strong start in 2020 as yields fall below 10%

14 hours ago

President of war-hit Ukraine offers 'investment nanny, tax holidays' to potential investors

16 hours ago

Russian Aeroflot carrier taking off for stellar 2020

15 hours ago

Turkey’s top private lender Isbank sells $750mn of 10-year Basel III eurobonds, others awaited

1 day ago

More News

Tech

Hungarian company in partnership to develop world’s first hydrogen fuel cell-powered aircraft

Hungary-based Genevation Aircraft has unveiled its first hydrogen fuel cell powered aircraft developed jointly with US-based Alaka'i Technologies.

Istanbul-listed Aselsan, Kron and Logo take awards in Deloitte Technology Fast 50 ranking

37 of 50 ranked companies were active in software sector.

SK Innovation planning to boost EV battery production capacity in Hungary

Capacity of SK Innovation's second Hungary factory to be raised to 16 Gwh equivalent to meet soaring demand from European carmakers.

Russia's Yandex internet major could start virtual mobile operator

Russia's most valuable digital company Yandex is considering launching its own mobile virtual network operator (MVNO), Kommersant daily reported on January 9 citing unnamed market sources.

Russian messenger service Telegram warns consumers not to be scammed by offers to buy the Gram token now

Fake websites have been offering "presale" of the Gram cryptocurrency that will run on the highly anticipated TON blockchain platform Telegram is in the middle of building.

Hungarian company in partnership to develop world’s first hydrogen fuel cell-powered aircraft

1 day ago

Istanbul-listed Aselsan, Kron and Logo take awards in Deloitte Technology Fast 50 ranking

3 days ago

SK Innovation planning to boost EV battery production capacity in Hungary

11 days ago

Russia's Yandex internet major could start virtual mobile operator

14 days ago

Russian messenger service Telegram warns consumers not to be scammed by offers to buy the Gram token now

16 days ago

More Tech

Opinion

ING THINK: Russia tempted to ease fiscal rule and spend more

Russia entered 2020 with a spending backlog of around 1% of GDP, which the new cabinet may now start unwinding. With the budget breakeven oil price below $50/bbl there is some space to increase spending.

ING: Russian balance of payments calls for caution over RUB

Balance of payments for 4Q19 suggests weakness in the current account and tells us that as much as $25bn of net portfolio inflows into local currency state bonds (OFZ) may be needed in 2020 in order to avoid ruble depreciation.

ING: Hungarian inflation jumps to 4% in December

Hungary's headline inflation rose remarkably in December, as expected, mainly on the back of energy prices. But what's more important is that core inflation slowed somewhat, so we see the central bank remaining calm.

ING: Romanian year-end inflation above target band at 4%

At 4.0% y/y, December inflation came in slightly above our 3.9% forecast and market consensus. We believe that this will be the peak for many months to come.

TEHRAN BLOG: Now is no time to appease Trump

As the US tramples on international law and lapdog UK’s PM says nuclear deal can be replaced with something from “the great dealmaker”, respecters of democracy everywhere should side with the lesser of two evils: Iran.

ING THINK: Russia tempted to ease fiscal rule and spend more

2 days ago

ING: Russian balance of payments calls for caution over RUB

3 days ago

ING: Hungarian inflation jumps to 4% in December

8 days ago

ING: Romanian year-end inflation above target band at 4%

8 days ago

TEHRAN BLOG: Now is no time to appease Trump

9 days ago

More Opinion

Data

Russia's Watcom shopping index ends 2019 on five-year high as consumption recovers

The Watcom shopping index finished 2019 on a high note, putting in its best result in five years after under-performing for almost the whole year.

Ukraine’s retail sales up 10.5% in 2019

Ukraine’s retail sales grew by a healthy 10.5% y/y in real terms in 2019, accelerating from from 5.8% y/y in 2018, Ukraine’s State Statistics Service reported on January 21.

Russia’s gross international reserves reach $557.5bn, surpass pre-crisis peak

Russia’s gross international reserves (GIR) topped $557.5bn on January 10, according to the Central Bank of Russia (CBR), surpassing the previous all-time high in 2008.

Slovenia ranks first in emerging Europe in social mobility

Most economies are failing to provide the conditions in which their citizens can thrive, said the World Economic Forum on releasing its new social mobility index.

Moldova’s industrial output up 2.5% y/y in 11M19

Rise was driven by electronics and automotive sectors where foreign investors have developed production facilities, while light industry keeps losing ground due to the lack of workforce.

Russia's Watcom shopping index ends 2019 on five-year high as consumption recovers

10 hours ago

Ukraine’s retail sales up 10.5% in 2019

1 day ago

Russia’s gross international reserves reach $557.5bn, surpass pre-crisis peak

1 day ago

Slovenia ranks first in emerging Europe in social mobility

2 days ago

Moldova’s industrial output up 2.5% y/y in 11M19

2 days ago

More Data

Features

INTERVIEW: Ukraine gas tariffs stay low, energy sector outlook improves

After signing off on a new gas transit deal in the last days of last year, Ukrainian authorities backed off their threat to more than triple gas tariffs for domestic producers in an effort to keep the pipeline system from going bankrupt.

Putin calls for constitutional changes to shift power to Duma during his state of the nation speech

Russian President Vladimir Putin called for changes to the constitution that would shift power to the Duma, the Russian parliament, as well as imposing some new limits to the president’s power, during his annual state of the nation speech.

OUTLOOK 2020 Kyrgyzstan

Recovered gold output to keep GDP growth at 4%. Russia's economic fate, anaemic job creation, stagnating poverty reduction and climate change are worries. No sign of political war between camps of president and on-trial predecessor flaring up again.

TURKEY INSIGHT: “Liquidity trumps geopolitics” as Borsa Istanbul breaks consecutive records

IIF sees capital markets awash in abundant central bank liquidity and disconnect from political risk. Catalyst for Turkish equity outperformance is banks’ upbeat forecasts. But lenders fear the regime, their views seem “Panglossian” says analyst.

OUTLOOK 2020 Belarus

A row with Russia that saw Belarus' oil supplies cut off caught the headlines but the bigger problem the country faces is its demographic trends. The government wants to boost technological industries and increase diversification.

INTERVIEW: Ukraine gas tariffs stay low, energy sector outlook improves

2 days ago

Putin calls for constitutional changes to shift power to Duma during his state of the nation speech

8 days ago

OUTLOOK 2020 Kyrgyzstan

10 days ago

TURKEY INSIGHT: “Liquidity trumps geopolitics” as Borsa Istanbul breaks consecutive records

10 days ago

OUTLOOK 2020 Belarus

10 days ago

More Features

Blogs

MOSCOW BLOG: The life of a beekeeper

Yuri Luzhkov was mayor of Moscow for nearly two decades and presided over the total transformation of the Russian capital.

BALKAN BLOG: North Macedonia’s ex-chief special prosecutor on trial

She was appointed to head investigations into top-level crime and corruption but now Katica Janeva is now on trial herself, accused of taking part in an operation to extort €1.5mn from one of North Macedonia's richest men.

BUCHAREST BLOG: New faces, new policies, but the same old uncertainty

Romania’s new government is preparing to undo some of the measures taken by its predecessors that dismayed investors, but with a shaky majority and elections already looming the scope for improvements is limited.

ISTANBUL BLOG: Funny my arse

Trump comes up with a lame Turkey pun. Erdogan comes up with F-16 warplanes in the skies of Ankara as target practice for his newly acquired Kremlin missiles.

CONFERENCE CALL: UzInvest Forum talks tech

Uzbekistan is a youthful country with a reported 60% of the population under the age of 30. The younger generation, which has only known digital technology, is moving into the tech sector with gusto.

MOSCOW BLOG: The life of a beekeeper

1 month ago

BALKAN BLOG: North Macedonia’s ex-chief special prosecutor on trial

1 month ago

BUCHAREST BLOG: New faces, new policies, but the same old uncertainty

1 month ago

ISTANBUL BLOG: Funny my arse

1 month ago

CONFERENCE CALL: UzInvest Forum talks tech

1 month ago

More Blogs

Latest Updates

News

Ukraine’s population fell behind that of Poland for the first time as an electronic census revealed the number of citizens had fallen by some 5mn people to 37.289mn since the last census in 2000.

Ukraine’s domestic bond market got off to a strong start in 2020 as heavy bidding at the weekly auction on January 22 depressed yields to 10%. A year ago Ukraine bonds were yielding 19%.

Any potential investor who invests more than $100mn in Ukraine, will get a personal "guardian" from the government, according to President Volodymyr Zelenskiy, who is at the Davos conference to talk up Ukraine’s investment case.

Analysts are increasingly keen on the stocks of Russian national air carrier Aeroflot after it had a terrible 2019.

Turkey’s 5-year credit default swaps fell below 250bp on January 15 and have remained in the 240s since then. Record 566bp was seen in after the lira crisis.

Tech

Hungary-based Genevation Aircraft has unveiled its first hydrogen fuel cell powered aircraft developed jointly with US-based Alaka'i Technologies.

37 of 50 ranked companies were active in software sector.

Capacity of SK Innovation's second Hungary factory to be raised to 16 Gwh equivalent to meet soaring demand from European carmakers.

Russia's most valuable digital company Yandex is considering launching its own mobile virtual network operator (MVNO), Kommersant daily reported on January 9 citing unnamed market sources.

Fake websites have been offering "presale" of the Gram cryptocurrency that will run on the highly anticipated TON blockchain platform Telegram is in the middle of building.

Opinion

Russia entered 2020 with a spending backlog of around 1% of GDP, which the new cabinet may now start unwinding. With the budget breakeven oil price below $50/bbl there is some space to increase spending.

Balance of payments for 4Q19 suggests weakness in the current account and tells us that as much as $25bn of net portfolio inflows into local currency state bonds (OFZ) may be needed in 2020 in order to avoid ruble depreciation.

Hungary's headline inflation rose remarkably in December, as expected, mainly on the back of energy prices. But what's more important is that core inflation slowed somewhat, so we see the central bank remaining calm.

At 4.0% y/y, December inflation came in slightly above our 3.9% forecast and market consensus. We believe that this will be the peak for many months to come.

As the US tramples on international law and lapdog UK’s PM says nuclear deal can be replaced with something from “the great dealmaker”, respecters of democracy everywhere should side with the lesser of two evils: Iran.

Data

The Watcom shopping index finished 2019 on a high note, putting in its best result in five years after under-performing for almost the whole year.

Ukraine’s retail sales grew by a healthy 10.5% y/y in real terms in 2019, accelerating from from 5.8% y/y in 2018, Ukraine’s State Statistics Service reported on January 21.

Russia’s gross international reserves (GIR) topped $557.5bn on January 10, according to the Central Bank of Russia (CBR), surpassing the previous all-time high in 2008.

Most economies are failing to provide the conditions in which their citizens can thrive, said the World Economic Forum on releasing its new social mobility index.

Rise was driven by electronics and automotive sectors where foreign investors have developed production facilities, while light industry keeps losing ground due to the lack of workforce.

Features

After signing off on a new gas transit deal in the last days of last year, Ukrainian authorities backed off their threat to more than triple gas tariffs for domestic producers in an effort to keep the pipeline system from going bankrupt.

Russian President Vladimir Putin called for changes to the constitution that would shift power to the Duma, the Russian parliament, as well as imposing some new limits to the president’s power, during his annual state of the nation speech.

Recovered gold output to keep GDP growth at 4%. Russia's economic fate, anaemic job creation, stagnating poverty reduction and climate change are worries. No sign of political war between camps of president and on-trial predecessor flaring up again.

IIF sees capital markets awash in abundant central bank liquidity and disconnect from political risk. Catalyst for Turkish equity outperformance is banks’ upbeat forecasts. But lenders fear the regime, their views seem “Panglossian” says analyst.

A row with Russia that saw Belarus' oil supplies cut off caught the headlines but the bigger problem the country faces is its demographic trends. The government wants to boost technological industries and increase diversification.

Blogs

Yuri Luzhkov was mayor of Moscow for nearly two decades and presided over the total transformation of the Russian capital.

She was appointed to head investigations into top-level crime and corruption but now Katica Janeva is now on trial herself, accused of taking part in an operation to extort €1.5mn from one of North Macedonia's richest men.

Romania’s new government is preparing to undo some of the measures taken by its predecessors that dismayed investors, but with a shaky majority and elections already looming the scope for improvements is limited.

Trump comes up with a lame Turkey pun. Erdogan comes up with F-16 warplanes in the skies of Ankara as target practice for his newly acquired Kremlin missiles.

Uzbekistan is a youthful country with a reported 60% of the population under the age of 30. The younger generation, which has only known digital technology, is moving into the tech sector with gusto.

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