News

Kazakhstan’s wheat flour export ban amid pandemic opposed by millers as unnecessary hoarding

bne IntelIiNews March 27, 2020

Analysts weighing up likelihood of wave of food nationalism and protectionism as coronavirus roils markets.

Turkish business presses Erdogan to beef up COVID-19 economic support and consider strict lockdown

bne IntelIiNews March 27, 2020

With academics warning Turkey may face pandemic “catastrophe”, local corporate titans suggest it might be better for country to bite bullet and go for short, sharp shock rather than long, drawn-out battle.

Hungary announces two-week curfew to stem the spread of coronavirus

Tamas Szilagyi in Budapest March 27, 2020

Hungarians are only allowed to leave their homes to go to work or to run essential errands, PM Viktor Orban announces, as virus reaches the community transmission stage.

Doubts cast over Hungarian central bank's bullish economic forecasts

Tamas Szilagyi in Budapest March 27, 2020

The Hungarian National Bank projects a growth slowdown, but still expects Hungary to perform better than eurozone countries. Most analysts take a gloomier view and forecast a recession.

CEE hotel deals put on hold amid coronavirus pandemic

bne IntelliNews March 26, 2020

After a vintage 2019, almost €2bn worth of deals were expected to close in the hotel sectors of six Central and Southeast European countries this year, but these are looking increasingly unlikely to complete, says a report from law firm CMS.

Coronavirus infections accelerate in several Southeast European countries

bne IntelliNews March 26, 2020

The growth in the number of confirmed COVID-19 cases has accelerated recently in Croatia, Romania and Serbia.

IIF forecasts a contraction of -1.4% in CEE, -1.3% in Russia, but Turkish growth remains in the black in 2020

Ben Aris in Berlin March 26, 2020

The Institute of International Finance (IIF) released updated forecasts for economic growth this year for the Central and Eastern Europe (CEE) countries that show a sharp slowdown in 2020 and all except Turkey will return negative results.

Is Russia’s healthcare system up to dealing with the coronavirus?

Ben Aris in Berlin March 26, 2020

Experts worry that Russia is ill-prepared to deal with a spike in infections thanks to the neglect of health system reform.

Kosovan MPs dismiss Albin Kurti’s government after spat over handing of epidemic

bne IntelliNews March 26, 2020

The vote plunges the country back into political instability as the authorities are bracing for more cases of COVID-19.

Is the pace of outflows from EMs starting to slow?

bne IntelliNews March 26, 2020

Equity and bond markets have been rocked by record volumes of outflows since the end of February in one of the biggest sell offs ever, but the pace of selling seems to be slowing in the last few days, said the Institute of International Finance (IIF)

"Falcon" is Astana International Exchange's first Chinese yuan-denominated bond

Kanat Shaku in Almaty March 26, 2020

AIFC financial hub seeking to create regional centre for Chinese yuan-based clearing and settlement.

Latest data show no progress resolving Turkish real sector’s foreign debt woe

Akin Nazli in Belgrade March 25, 2020

Burden seen as Turkey’s biggest headache in wake of currency crisis. Figures come amid pandemic as analysts say idea EMs will face ‘sudden stop’ in capital flows is starting to gain traction.

Bucharest’s economy partly insulated from COVID-19 says Colliers

Iulian Ernst in Bucharest March 25, 2020

Real estate consultancy points to the strong IT&C, scientific and professional services sectors in the Romanian capital are helping to protect property market from the fallout from the pandemic.

Economic think tank sees Hungarian economy plunging 20% in Q2

Tamas Szilagyi in Budapest March 25, 2020

Economy to be dragged down by to the almost complete shutdown in the service sector and suspension of production in the vehicle industry, says a forecast by GKI.

Wizz Air operating at 15% capacity

Tamas Szilagyi in Budapest March 25, 2020

Grounding the entire fleet remains a distinct possibility, but CEE's biggest low cost carrier says it is confident it can survive even a prolonged grounding.

Harvard academic claims coronavirus situation “out of control” in Turkey

bne IntelIiNews March 24, 2020

“If the necessary measures are not taken, Turkey will be like Italy or Spain, where the daily death toll is in the hundreds,” says Turkish professor.

Serbia follows Chinese playbook on fighting coronavirus epidemic

bne IntelliNews March 24, 2020

Serbia has introduced tough new measures to contain the spread of COVID-19 after appealing to China for help.

EU ministers reach agreement to open accession talks with Albania, North Macedonia

Valentina Dimitrievska in Skopje March 24, 2020

Decision "sends a loud and clear message to the Western Balkans: your future is in the EU,” said Enlargement Commissioner Oliver Varhelyi.

Ukraine's Prime Minister Denys Shmyhal causes a short flurry with gaffe confusing restructuring debt for refinancing

Ben Aris in Berlin March 24, 2020

Prime Minister Denys Shmyhal caused a short flurry when he inadvertently said Ukraine would “restructure” its external debt when he meant to say “refinance” during a TV interview on March 23.

Final version of Ukraine’s banking law agreed with IMF

Ben Aris in Berlin March 24, 2020

A final version of Ukraine’s banking law that prevents the state returning a nationalised bank to its former owner has been agreed with the IMF and should be presented to the Rada in the coming days.

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