News

Net closing on ex-Kyrgyz president Atambayev

bne IntelliNews June 18, 2019

Parliamentary commission indicts him on nine counts of corruption. Law signed by ally-turned-enemy and successor Jeenbekov may see him stripped of immunity from prosecution.

Russian air carriers post record loss in 1Q19

bne IntelliNews June 18, 2019

Russian air carriers posted a cumulative record-loss of RUB45.3bn ($704Mn) in January-March 2019

Iran cranks up nuclear deal pressure with “20%” uranium threat

bne IntelliNews June 17, 2019

Tehran demands economic help from Europe to persuade it away from path that would wreck accord. US accuses Iranians of atomic “extortion”.

Istanbul gripped by live TV debate between revote candidates

bne IntelliNews June 17, 2019

Observers see upcoming poll as test of whether Turkey can still claim to be a democracy. Erdogan keeping low profile unlike in run-up to original vote that produced shock opposition win.

Turkish central bank to fund primary dealers of gov’t domestic debt at 23%

Akin Nazli in Belgrade June 17, 2019

Liquidity move will mean national lender will indirectly buy government bonds or print money to finance Treasury.

RAEX Ratings named the Russian regions with the best governance quality

RAEX Ratings in Moscow June 17, 2019

Russia’s Tambov region has the best governance in Russia, according to a rating by RAEX Rating Review, the company said on June 17.

Moldova pulled back from the brink

Iulian Ernst in Bucharest June 17, 2019

Prime Minister Pavel Filip resigned, bringing an end to a standoff that saw two rival governments installed in Chisinau. This leaves the unlikely alliance of the pro-Russian Socialists and pro-EU ACUM in charge.

Chinese agro investment expands as COFCO eyes Russia's third largest grain terminal

bne IntelliNews June 17, 2019

The Sino-Russian ties are deepening as China ramps up its investment into Russian agriculture. Chinese COFCO trading corporation is eyeing a 25% stake in Russian KSK grain terminal in Novorossiysk

Russia's CBR head warns of spending NWF sovereign fund

bne IntelliNews June 17, 2019

The head of the Central Bank of Russia (CBR) Elvira Nabiullina warned the government against spending the National Welfare Fund (NWF), urging policy-makers to preserve the sovereign cushion at above 7% of GDP to hedge against possible external shocks

Zuzana Caputova sworn in as Slovakia's first female president

Nelly Tomcikova in Prague June 17, 2019

“I did not come to reign, but serve people,” says the lawyer and environmental activist known as the “Erin Brockovich of Slovakia”, who came out of left field to win the recent presidential election.

Ukraine’s PrivatBank suffered a bank run after court decisions on denationalisation, says former shareholders looted over $7bn

Ben Aris in London June 16, 2019

$300mn, or 5% of total deposits, were withdrawn from PrivatBank following two court decisions in May that said the 2016 nationalisation of the troubled bank must be undone and the bank returned to its former owners.

Albanian prosecutors file criminal charges against opposition leader Basha

Valentina Dimitrievska in Skopje June 16, 2019

Opposition says case concerning $675,000 of funding for the Democratic Party ahead of the 2017 general election is intended to distract from the political crisis in Albania.

Fitch gives North Macedonia first rating upgrade in 13 years

Valentina Dimitrievska in Skopje June 16, 2019

Rating agency praised improved governance standards and reforms, saying this provides greater reassurance that North Macedonia “will not revert to the political paralysis of 2014-2017.”

Bloomberg reporters face jail for story on Turkish lira crisis

bne IntelliNews June 14, 2019

Duo accused of attempting to undermine the economic stability of Turkey, the world’s biggest jailer of journalists for three straight years.

Russia’s stock market puts in its best performance in a decade, gains 26% YTD

Ben Aris in Berlin June 14, 2019

Russia’s leading dollar denominated Russia Trading System (RTS) has surged by just over a quarter YTD as of June 14. Stocks are now trading at a levels above where they were when sanctions were imposed following the annexation of Crimea in 2014.

Latvian parliament votes for tough new measures against financial crime

bne IntelliNews June 14, 2019

Law allowing parliament to remove the head of Latvia's financial regulator was passed after a series of scandals that put Riga under pressure to clean up its banking sector.

Russia suspends allocation of $800mn loans to Belarus, Minsk says

bne IntelliNews June 14, 2019

Russia has suspended allocation of loans to Belarus for a total amount of $600mn, according to Belarusian Finance Minister Maksim Yermolovich.

Revenues of Czech top 100 companies top CZK3bn for the first time in 2018

bne IntelliNews June 14, 2019

The combined revenues of the hundred most successful Czech companies topped CZK3bn (€116.5mn) for the first time ever in 2018 after their profits increased by 12.3% year-on-year to CZK210bn (€8.2bn), the Czech News Agency reported on June 11.

Croatia sells €1.5bn Eurobond on most favourable terms to date

bne IntelliNews June 14, 2019

Bond issued shortly after Fitch raised Croatia to investment grade was 3.7 times oversubscribed.

Eager shoppers queue up outside Primark’s first CEE store in Ljubljana

bne IntelliNews June 13, 2019

Thousands-strong crowds greet the entry of fast fashion giant Primark to Slovenia, as it lines up retail space for future openings in Poland and the Czech Republic.

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