News
Ukraine's PrivatBank launches legal battle against its former owners in US court
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
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Kosovo considers extending 100% tariffs to Albanian products
Punitive tariffs already imposed on imports from Bosnia and Serbia could be extended to Kosovo’s closest ally Albania if it fails to remove barriers on Kosovan flour, beer and potatoes.
Moldova’s president asks Constitutional Court’s permission to dissolve parliament
Snap elections have become the baseline scenario in Moldova as none of the three major forces in the parliament managed to form a government after the February general election.
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Istanbul revote: Ousted mayor says AKP spent TRY80mn in three years on city’s website
Ekrem Imamoglu, who will fight an election rerun in what observers say is a crucial test of remaining democracy in Turkey, unveils alleged misspending.
Clearstream to link Ukraine to global financial system on May 27
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
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
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
Voters prepare to punish their ruling parties in European Parliament elections
Following domestic political scandals in several Central and Southeast European member states, many voters just want to give their ruling parties a kicking in this week's EU-wide vote.
Russia's advertising market slows to 4% growth in 1Q19
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
Poland’s leading newspaper accuses PM Morawiecki of shady real estate deal
The revelation comes only a few days before the election to the European Parliament, which the fiercely anti-government newspaper hopes the ruling Law and Justice (PiS) will lose.
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North Macedonia’s new president signs off 21 laws his predecessor refused to endorse
Gjorge Ivanov refused to sign the bills, on topics including financial support for investments and reforms to the security services, in protest against the change of the country's name to North Macedonia.
Serbia must improve business climate and tackle brain drain to ensure long-term growth, IMF says
Serbia has a positive near-term outlook after growth rebounded to a 10-year high in 2018, but deep reforms are needed to create a solid basis for future growth.
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.
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".
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