Two Czech companies among five fastest growing in EMEA

Nelly Tomchikova in Prague September 25, 2019

Czech companies Prusa Research and are among the top 5 fastest-growing technology companies in Europe, Middle East and Africa region (EMEA).

International lowcost carriers bid for 33 destinations from Russia

bne IntelliNews September 25, 2019

International low-cost airlines Ryanair, EasyJet and Wizzair have submitted bids for 33 destinations out of St Petersburg airport Pulkovo as of 2020, which would require that the airport complies with the Open Skies regime

Slovenia’s cash-strapped Adria Airways suspends flights

Valentina Dimitrievska in Skopje September 24, 2019

Adria says it is "intensively searching for solutions" with potential investors, as it suspends flights for two days.

Estonian police searching for ex-head of local Danske Bank unit

bne IntelliNews September 24, 2019

Police have warned that Aivar Rehe, who headed the branch at the centre of a €200bn money laundering scandal, may be in danger after he disappeared early on September 23.

Prosecutors freeze assets of Air Moldova and private company that purchased it

Iulian Ernst in Bucharest September 24, 2019

The seizure was carried out in connection to "large scale money laundering" during the privatisation of Air Moldova, prosecutors from Moldova’s National Anticorruption Centre announced.

Czech Prime Minister Andrej Babis falls two places to rank fourth richest man in a Czech-Slovak wealth ranking

Nelly Tomchikova in Prague September 24, 2019

The 2019 ranking of the 50 richest Czechs and Slovaks compiled by the Euro weekly shows some significant changes. While Czech billionaire Petr Kellner remains top dog, the Czech Prime Minister Andrej Babis (ANO) has fallen two spots to number four.

Bulgaria, Croatia seek to minimise fallout from Thomas Cook collapse

By Clare Nuttall in Glasgow September 24, 2019

Government officials in Bulgaria and Croatia scrambled this week to alleviate the negative effects on their tourism business following the collapse of British holiday firm Thomas Cook.

IMF sharply raises Turkey growth forecast but says calm on country’s financial markets looks “fragile”

Will Conroy in Prague September 24, 2019

Fund says growth has rebounded aided by policy stimulus and favourable market conditions. Adds monetary easing has been “too aggressive” and that only “viable borrowers” should be accepted amid new credit drive.

Russia's rating agency ACRA awards Russia an “A” in its first sovereign rating score

Ben Aris in Berlin September 23, 2019

At A-, Russia’s first sovereign long-term foreign currency credit rating from domestic ratings agency ACRA is significantly higher than its ratings from the international agencies.

Turkey works on loan-support for tourism businesses harmed by collapse of Thomas Cook

bne IntelliNews September 23, 2019

Failed coup attempt in 2016 seen as one factor in demise of firm. Industry figures worried country could miss out on more than half a million tourists a year following loss of company.

Public’s perception of direction Georgia is taking most negative in almost a decade

Iulian Ernst in Bucharest September 23, 2019

In six months, percentage of survey respondents saying country is headed in wrong direction increases to 49% from 38%.

Albania hit by strongest earthquake in 30 years

bne IntelliNews September 22, 2019

Power cuts and damage to buildings in Tirana and Durres after quake measuring 5.8 on the Richter scale, but no deaths reported.

Croatian government backs down over retirement age increase

bne IntelliNews September 20, 2019

The increase in the retirement age was part of Zagreb’s plans to reform the pension system in response to the country’s ageing population, but sparked an angry backlash from thousands of Croatians.

Stop “demonizing” Armenia’s mining industry PM tells environmental activists

bne IntelliNews September 20, 2019

Nikol Pashinian warns mineral export revenues are so important to small nation that in event of renewed war with Azerbaijan the depletion of them would be a matter of national security.

Russian industrial robots market grows 42% in 2018 but remains negligible

bne IntelliNews September 20, 2019

Russian market for industrial robots in 2018 increased by 42% to 1,007 units, Vedomosti daily reported on September 19 citing the data of the International Federation of Robotechnics (IFR).

Russian government values oil reserves at $1 trillion

bne IntelliNews September 20, 2019

Russia’s Ministry of Natural Resources and Environment has estimated the total value of Russia's oil reserves at RUB74.5 trillion ($1.2 trillion), almost doubling the valuation over one year, RBC business portal reported. Total value of hydrocarbons,

Hiventures partners with Budapest bourse to support IPOs

Levente Szilagyi in Budapest September 20, 2019

State-owned venture capital fund Hiventures will pick companies it deems bourse-ready from its portfolio and ready them for inclusion on the stock exchange's Xtend market.

Albanian ex-interior minister sentenced to five years in prison in drug trafficking case

Valentina Dimitrievska in Skopje September 20, 2019

Saimir Tahiri was found not guilty of drug trafficking but sentenced for abuse of office, in verdict announced as Tirana seeks a date to open EU accession talks next month.

Turkish banks eye transfer of higher-quality NPLs to asset management company

bne IntelliNews September 20, 2019

Top lenders under pressure from watchdog after order to convert $8bn of loans to non-performing status.

Charges against US fund manager Michael Calvey in Vostochniy case start to fall apart

EWDN in Moscow September 19, 2019

The charges against Baring Vostok executives could fall apart as investigators have re-appraised the value of shares of a bank, which was central to the case.