News

Hankook postpones capacity expansion in Hungary

bne IntelliNews September 12, 2019

Speculation that South Korean tyre maker's decision to delay €268mn investment at its Hungarian plant is linked to shortage of workforce.

Turkcell switching to single instalment for TRY1.01bn dividend

Akin Nazli in Belgrade September 11, 2019

Largest Turkish mobile operator says shareholders Telia, Cukurova Holding and Russian tycoon Mikhail Fridman’s LetterOne have agreed to vote for profit distribution.

Ukraine passes presidential impeachment law, to cull Central Election Commission and pass a new illicit enrichment law

Ben Aris in Berlin September 11, 2019

Ukraine’s parliament continued its legislative tsumani by passing laws that allow the president to be removed by impeachment, cut the number of Supreme Court judges by a third and toughen the punishments for corrupt officials .

“Renewed collapse in lira” just a matter of time says Commerzbank ahead of Turkish rates meeting

bne IntelliNews September 11, 2019

“Overly loose monetary policy risks exacerbating Turkey’s age-old vulnerabilities by fueling twin dynamics of inflation and attendant currency weakness,” adds Societe Generale strategist.

Turkey’s banking association expects $10bn of electric utility loan restructuring this year

Akin Nazli in Belgrade September 10, 2019

Energy companies left up to their necks in debt by lira crisis.

Former Erdogan ally ‘to challenge Turkish president’s ruling AKP with new party’

bne IntelliNews September 10, 2019

Ex-economic czar Ali Babacan says the condition in which Turkey is currently in is “truly saddening”. Takes aim at state of economy, human rights and rule of law.

France calls for reset in relations with Russia

Ben Aris in Berlin September 10, 2019

It’s official: France is actively working for a reset in relations with Russia. “The time has come, the time is right, to work towards reducing the distrust between Russia and Europe," Jean-Yves Le Drian, the French foreign minister says

Ukraine central bank urges law enforcers to protect former governor

bne IntelliNews September 9, 2019

The board of National Bank of Ukraine (NBU) has urged the nation's law enforcement agencies to protect the life and health of its former governor Valeria Gontareva, current leadership, and staff.

Istanbul, Ankara mayors not at risk of being replaced says interior minister

bne IntelliNews September 9, 2019

Fears of a move rose after three Kurdish mayors were kicked out of office. Istanbullers, meanwhile, invited by opposition administration to see exhibit of hundreds of ‘AKP’ official cars as example of squandering of public money by predecessors.

Turkish Airlines receives approval to issue eurobonds worth up to $2bn

Akin Nazli in Belgrade September 9, 2019

Reports suggest, meanwhile, private lenders in Turkey “pushing hard” for tighter margins in autumn term syndicated loan renewal season.

Kaczynski’s “hat trick” latest in slew of PiS promises ahead of key election in Poland

Wojciech Kosc in Warsaw September 9, 2019

PiS is campaigning heavily before the October 13 general election in Poland that the incumbent party hopes to win big in order to secure the domination it gained in 2015.

Moldovan banks close accounts of key Transnistrian companies

Iulian Ernst in Bucharest September 9, 2019

Moldovan central bank says move is in line with international regulations against money laundering and terrorism financing, but officials in the breakaway republic suspect a political motive too.

Record lending fuels Hungary's banking sector growth

Levente Szilagyi in Budapest September 9, 2019

Hungarian banks reported near-record profit in the first half spurred by an upswing in lending, but the branch of networks continued to shrink, central bank data showed.

Opposition MPs boycott vote as “Moscow's man” Gakharia is made Georgia’s PM

Iulian Ernst in Bucharest September 9, 2019

Decision to make controversial interior minister the new prime minister set to fuel tensions in the run-up to next year's general election.

Bosnia holds peaceful first pride parade amid heavy police presence

bne IntelliNews September 8, 2019

Bosnia's first pride parade was attended by thousands, going beyond the organisers’ expectations that only around 500 people would participate.

EU’s Hahn ready to help Bosnia solve political deadlock as deadline for PM nomination expires

Denitsa Koseva in Sofia September 7, 2019

Bosnia has been without a government since the October 2018 elections, as deep divisions over its relationship with Nato have kept party leaders from forming a coalition.

Ukraine and Russia swap 70 prisoners of war

Ben Aris in Berlin September 7, 2019

Among those released in the first concrete move towards ending the conflict between the two countries were Ukrainian film director Oleg Sentsov and the 24 sailors captured by Russia during a naval clash in the Kerch Strait in November.

Ukraine's long awaited anti-corruption court starts work

bne IntelliNews September 6, 2019

It took Ukrainian President Volodymyr Zelenskiy three working days to do what former president Petro Poroshenko failed to do over several years. Ukraine’s Anti-Corruption Court started work on September 5, as planned.

Hungarian central bank governor calls for comprehensive stimulus programme

bne IntelliNews September 6, 2019

To continue with catching up to the west, Hungary’s growth needs to outpace the EU average of 2%, says central bank governor Gyorgy Matolcsy.

Turkish Airlines files awaited downward revision in 2019 targets

Akin Nazli in Belgrade September 5, 2019

Flagship carrier cuts revenue forecast by $0.6bn and passenger volume expectation by 4mn. Difficulties include serious teething problems at Turkey’s new mega airport.

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