Eastern Europe / News

Yields on Russian OFZ sovereign treasury bills fall to 9-month lows as foreign demand rises

Ben Aris in Berlin May 23, 2019

Russian Ministry of Finance ruble-denominated OFZ treasury bills were trading close to their highest levels in nearly two years in the first weeks of May.

New Ukraine president under fire for proposal of referendum on peace with Russia

bne IntelliNews May 23, 2019

The team of Ukrainian President Volodymyr Zelenskiy is considering holding a referendum on concluding agreements with Russia to bring peace in the Donbas war, head of the presidential staff Andriy Bohdan said on May 21.

Ukraine's PrivatBank launches legal battle against its former owners in US court

bne IntelliNews May 23, 2019

Ukraine's PrivatBank, nationalised in late 2016, has instituted legal proceedings against its former owners, Ihor Kolomoisky and Gennadiy Bogolyubov, as well as "other individuals and companies", before a Court in Delaware in the US

Clearstream to link Ukraine to global financial system on May 27

Ben Aris in Berlin May 22, 2019

Ukraine’s capital markets will be hooked up to the global financial system when it joins the Clearstream international payments and settlements system in a move that could revolutionise the government's ability to fund itself.

Problems with contaminated Russian oil not over in Poland and Germany

bne IntelliNews May 22, 2019

The transit of Russian oil via Druzhba pipeline has not yet been resumed due to persisting technical problems in Poland and Germany, Vedomosti daily and Reuters reported on May 21 citing unnamed market sources.

Ukraine constitutional crisis snowballs as parliament challenges president's announcement of snap elections

bne IntelliNews May 22, 2019

Ukrainian President Volodymyr Zelenskiy's decree on the Verkhovna Rada's dissolution and call for early parliamentary elections could trigger a constitutional crisis in the country, the chairman of the nation's parliament's Andriy Parubiy says

Russia's advertising market slows to 4% growth in 1Q19

bne IntelliNews May 22, 2019

Advertising spending in Russia in 1Q19 stood at RUB111bn ($1.7bn), the growth of the ad market slowing down to 4% from 13% for the same quarter of 2018, Kommersant daily reported citing the data of Association of Communication Agencies of Russia (AKA

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

bne IntelliNews May 20, 2019

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

Russian court rules against Baring Vostok fund in OEB case

bne IntelliNews May 20, 2019

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

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

bne IntelliNews May 18, 2019

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.

Ukraine's parliamentary coalition collapses, making snap elections impossible

bne IntelliNews May 17, 2019

President-elect Volodymyr Zelenskiy was mulling calling a snap election after he is sworn in on May 20, but this was thwarted by the People's Front faction's decision to quit the ruling coalition.

Russian consumer loans ballooning despite CBR measures to cool the market

bne IntelliNews May 17, 2019

Unsecured consumer loans in Russia keep on growing, increasing by 25% year-on-year in January-March 2018, Vedomosti daily said on May 17 citing the data by Frank RG. Unsecured loans accounted for RUB1.05tn of the total retail loans volume of RUB1.9tn

Ukraine parliament schedules Zelenskiy's inauguration ceremony for May 20

bne IntelliNews May 17, 2019

The inauguration of Ukrainian President-elect Volodymyr Zelenskiy will take place on May 20, according to a special draft resolution greenlighted by the nation's parliament on May 16, which in theory allows the new president to dissolve parliament

Ukraine central bank loses appeal in PrivatBank nationalisation court battle

bne IntelliNews May 14, 2019

The National Bank of Ukraine has lost its appeal to the courts to overturn a decision to de-nationalise Privatbank.

Ukraine's president-elect insists on May 19 inauguration

bne IntelliNews May 14, 2019

Volodymyr Zelenskiy accuses outgoing President Petro Poroshenko of deliberately delaying handover of power while he attempts to install his people in the army, Supreme Court and National Television and Radio Broadcasting Council.

Russian HeadHunter makes first NASDAQ IPO since 2013

bne IntelliNews May 13, 2019

Leading Russian online job search portal HeadHunter completed its IPO on NASDAQ, on May 9 placing 16.3mn ADRs or 32% of capital at $13.5 per ADR, the upper range of price guidance. The shares of the newcomer jumped by 24% at the start of trading

CEE monthly bond wrap: bond investors suffering April showers and still waiting for the flowers

bne IntelliNews May 8, 2019

April was a poor month for bond issues in Central and Eastern Europe as the two biggest markets – Russia and Turkey – were both suffering from political problems that depressed demand.

Russia’s Gazprom tightens control over investment programme in an effort to cut waste

bne IntelliNews May 8, 2019

There has been yet another shake up at Russia’s state-owned gas behemoth Gazprom, as the company attempts to improve efficiency and cut down on wasteful spending.

VTB London unit starts relocating to Frankfurt as losses pile up

Jason Corcoran in Moscow May 7, 2019

Russian bank VTB is relocating business lines and bankers from its London unit to Frankfurt after losses from its London unit tripled

Hungary and Russia amend loan agreement on Paks nuclear power plant

bne IntelliNews May 7, 2019

Budapest opened talks on rescheduling the Russian loan for the Paks expansion when it became clear that the new blocks would not start operations in 2025-2026 as originally planned.