News
US sanctions on Serbian oil company NIS take effect
Sanctions imposed by the United States on Serbia’s sole oil refiner, NIS, took effect on October 9, ending months of postponements and raising fears of fuel shortages and wider economic disruption.
EU tariffs to hit Serbian steel industry
President Aleksandar Vucic warns EU steel tariffs will hit the Smederevo ironworks, owned by China’s Hbis Group, and could weaken Serbia’s attractiveness for foreign investment.
Israel-Hamas ceasefire set to begin on the evening of October 9
A ceasefire agreement between Israel and Hamas is scheduled to take effect on the evening of October 9, pending Israeli government ratification.
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Political and fuel crises push Bolivia into lonely Latin American recession
Bolivia faces one of its most severe economic crises in decades, with the World Bank projecting a three-year recession stretching until 2027.
The only way to stop Russia is by force, Poland’s Foreign Minister Sikorski argues
Moscow will not negotiate in good faith until it faces clear limits on its military and economic options, Poland’s Foreign Minister Radosław Sikorski argued in an essay published by the New York Times.
Moldova's separatist Transnistria faces deepening budget crisis after Russia cuts gas supplies
Official says Transnistria has to "mobilise all possible resources" to overcome the tiny self-declared republics ongoing financial crisis.
Babiš says he will axe state military aid for Ukraine if ANO forms next Czech cabinet
After his ANO party won Czechia's general election, Babis told journalists he won’t give Ukraine a single crown for weapons.
Trump’s attendance at ASEAN Summit hinges on Cambodia–Thailand peace deal
US President Donald Trump will only attend the upcoming ASEAN Summit in Malaysia later this month if he is allowed to preside over a symbolic peace deal signing between Cambodia and Thailand,
Putin arrives in Tajikistan for meetings with Central Asia, CIS leaders
Calls made for Tajiks to arrest Russian leader under international court warrant, but Dushanbe remains strategic ally of Kremlin.
Smyk plans Warsaw IPO to raise €35.26mn for debt repayment and expansion
Polish children’s goods retailer Smyk announced plans to launch an initial public offering and list its shares on the Warsaw Stock Exchange.
Bulgaria enforces dual pricing ahead of 2026 euro adoption
Tough penalties for businesses that fail to display prices in euro and lev as euro adoption date approaches.
Ecuador president's convoy attacked amid escalating fuel subsidy protests
Ecuadorean President Noboa emerged unscathed after his motorcade came under attack on October 7, with authorities detaining five individuals on charges of terrorism and attempted assassination as indigenous protests continue nationwide.
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World Bank nudges up Latin America growth forecast to 2.3% but warns of skills shortage
The World Bank expects Latin America and the Caribbean’s economy to expand 2.3% in 2025, a slight uptick from 2.2% in 2024, with growth projected to reach 2.5% in 2026.
Milei stages rock concert as Argentina's economy falters
Argentine President Milei launched his new book with a rock concert-style event at Buenos Aires' Movistar Arena on October 6, performing anthems before nearly 15,000 supporters as his administration faces political and economic turmoil.
World Bank projects growth upturn for Western Balkans from 2027
But region needs to focus on job creation and reforms to catch up with average EU living standards within the next 40 years.
Iran's foreign minister calls for return to diplomacy after missile accusations
Iranian Foreign Minister Abbas Araghchi accused Israeli Prime Minister Benjamin Netanyahu on October 7 of attempting to manufacture an "imaginary threat" from Iran.
Hungary's forint falls 1% after economy minister criticises interest rates
Hungary's forint falls 1% after Economy Minister Marton Nagy criticises high real interest rates, reigniting debate over possible rate cuts as central bank maintains 6.5% rate unchanged since September 2024 to control inflation.
Kenya converts $3.5bn China Exim railway loans into yuan, saving $215mn annually
Kenya’s Treasury said the switch aims to hedge against US dollar volatility and align repayment flows with Chinese import and project spending, which are largely yuan-denominated. The currency swap immediately reduces near-term debt-service costs.
Romania's Electrica seeks shareholder approval to borrow €1bn for acquisitions
State-controlled electricity utility group is eyeing acquisitions including Distribuție Energie Oltenia, currently owned by Macquarie.
Georgian authorities jail organisers of failed “peaceful revolution”
Tens of thousands gathered peacefully on Tbilisi’s central Rustaveli Avenue on October 4, while a smaller group attempted to storm the presidential palace on the instruction of rally organisers.