News
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Number of companies calling it quits in Turkey up nearly a quarter in July
More than 700 enterprises were shuttered amid country’s dire economic straits. Meanwhile, NPLs made to tourism industry climbing. Hoteliers complain of low per capita spending by foreign tourists.
Popularity of Poland’s PiS hit after media reveal deputy justice minister orchestrated smear campaign against judges
Should more polls confirm the dent in PiS’ popularity, the ruling party might face not winning an outright majority — which it enjoys now — in the general election due on October 13.
FUNDS: Asia Frontier Capital pioneering foreign investments into Uzbek stocks
The Uzbek stock market is about to get a boost from a new law that will ease restrictions on the foreign ownership of bank shares that make up the bulk of trading on the exchange.
Ukraine joins EU leaders in opposing Russia’s re-admittance to G7
Ukraine’s President Volodymyr Zelenskiy added his voice to those of major European economies in opposing a proposal from US President Donald Trump to allow Russia back into the Group of Seven (G7) advanced economies.
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Hungarian banks’ recovery unlikely to last, Capital Economics says
Capital Economics anticipates a slowdown in credit growth as Hungary's central bank is expected to gradually tighten monetary policy and raise rates.
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TURKEY INSIGHT: ‘EM hunt switches from yield to safety' as Ankara readies for new political, economic phase
Lira hit as critics sense weakened strongman Erdogan is intent on pumping up short-term growth.
Uzbek central bank to lift all limits on exchange fluctuations
Five-percent restriction on rate movement cancelled with rates to “now be determined by the buyers and sellers”.
Moldovan president aims to return Chisinau airport to state ownership after Rothschild deal
2013 concession of Chisinau airport to a “group of crooks” must be investigated, says President Igor Dodon, after re-sale of the airport’s operator to financier Nat Rothschild.
Czech government crisis almost over
Social Democrats' new nominee to head the culture ministry, former foreign minister Lubomir Zaoralek, has the support of President Zeman.
Fatal illness, freak accident dent Bulgarian tourist sector’s reputation in UK
An outbreak of Legionnaires’ disease linked to a Bulgarian hotel and a freak accident on an “extreme” waterslide have raised doubts among British holidaymakers about the Southeast European destination.
North Macedonia’s chief special prosecutor put in detention
Katica Janeva's arrest is expected to restore trust in justice institutions that was badly shaken when her involvement in the so-called Extortion scandal was revealed.
Turkish real estate tycoon Agaoglu puts his luxury cars up for sale amid market misery
Meanwhile, Kamhi family put Istanbul’s Profilo shopping mall on market with an asking price of $74mn—half of what they tried to sell if for five years ago.
Unpredictable Trump may encounter an unpredictable Iran warns Tehran’s top diplomat
Zarif’s remarks come as Australia and Bahrain agree to back US-led maritime security mission off Iranian coast already supported by UK.
Turkey’s private banks under growing government pressure to boost lending
Central bank introduces reserves changes which observers note tally with possible plan to drive up short-term economic growth and call early elections. Lira comes under pressure.
Russia's Rosneft and finance ministry wrestle over Arctic funding
Russia's finance ministry is insisting that the moratorium on oil and gas extraction support is extended for the Arctic region, while Rosneft pushes through support for its Arctic project Vostok Oil.
Hungary and Germany mark 30th anniversary of border opening
Angela Merkel and Viktor Orban put their differences over migration aside to commemorate the opening of the Hungarian-Austrian border, a milestone event in the momentous year of 1989.
Uzbek prosecutors launch new criminal probe against late autocrat Karimov’s daughter
Prosecutors indicted Karimova for illegally buying two cement plants and selling them off to a foreign business, saying she coerced the owners to hand over their companies.
Kosovo bans import of potatoes and honey from North Macedonia
Reciprocal measure taken after North Macedonia introduced tariffs on imports of fish and roe from Kosovo in June this year.
TURKEY INSIGHT: Consumer hump, factory slump
Turkish industrial production contracts for 10th straight month. Worst run since financial crisis. Government, meanwhile, continues to work the credit pumps. “Central bank playing with fire,” says one analyst.
Russia releases French Baring Vostok partner on house arrest
Moscow court released French partner of Baring Vostok Capital Partners Philippe Delpal from pre-trial detention and put him under house arrest on Thursday August 15.