Southeast Europe / News

Bosnia nominates new PM ending year-long political deadlock

Denitsa Koseva in Sofia November 19, 2019

Breakthrough as top Bosnian politicians finally agree to send a reform programme to Nato, resolving a dispute that had held the nomination up by several months.

Building permit data shows economic turmoil’s hit Turkey’s construction industry like demolition ball

Akin Nazli in Belgrade November 19, 2019

Once the driver of country’s economic boom, sector saw number of issued permissions drop 57% in first three quarters.

Turkish ‘Robin Hood’ at work amid economic turmoil

bne IntelliNews November 18, 2019

Anonymous benefactor paying off grocery debts and slipping money under doors in poor neighbourhoods as country comes to terms with spate of collective family suicides.

IMF to scrap deal with Bosnia and propose new agreement

Denitsa Koseva in Sofia November 18, 2019

The current deal, which was expected to provide Bosnia with much needed cheap cash, was put on hold in 2017 as political disagreements have frozen key reforms.

Veteran Russian tour operator Intourist reportedly considers IPO

bne IntelliNews November 18, 2019

Russia’s oldest and largest tour operator Intourist is planning an IPO, after Anex Tour owner Neşet Koçkar completes a buyout of its shares from troubled Thomas Cook.

Montenegro launches undersea power link to Italy

Denitsa Koseva in Sofia November 17, 2019

First "electrical bridge" from Western Balkans to the rest of Europe is expected to generate export revenues for Montenegro and its neighbours as they step up investment into renewable energy.

Halkbank shares head south in Istanbul after Erdogan’s White House meeting produces little

bne IntelliNews November 14, 2019

State bank embroiled in Iran sanctions-busting case. Mention of Turkish strongman in indictment and Trump Tower Istanbul under renewed scrutiny. No progress on ‘S-400’ row. Senators not thrilled at Oval Office showing of anti-Kurdish propaganda film.

Moldovan PM Sandu loses confidence vote

Iulian Ernst in Bucharest November 13, 2019

Shaky coalition between Sandu's pro-EU ACUM bloc and President Dodon's pro-Russian Socialists fractures after just five months.

Czech CEZ’s Turkey-listed JV restructures $854mn loan with Yapi Kredi Bank

Akin Nazli in Belgrade November 12, 2019

Markets, meanwhile, draw breath as Erdogan prepares for November 13 White House meeting with Trump. Betting is that the two strongmen will reach an accommodation.

Crisis within Moldova’s ruling coalition makes Plahotniuc’s party a key player again

Iulian Ernst in Bucharest November 12, 2019

Moldova’s parliament is poised to vote on the no-confidence motion submitted by the Socialist Party of President Igor Dodon against the government of Prime Minister Maia Sandu.

Turkey sells $2.5bn of 5-year eurobonds at 5.70%

Akin Nazli in Belgrade November 11, 2019

Spread over US Treasury paper fell sharply to 407bp from 470bp seen at previous Turkish sale, held in July.

Romania’s former PM Dancila to face President Iohannis in second round of presidential elections

bne IntelliNews November 11, 2019

Klaus Iohannis seen heading for victory in the runoff in two weeks time, which will reinforce the new government headed by the centre-right PNL.

Albania, North Macedonia and Serbia agree to set up common market

Valentina Dimitrievska in Skopje November 10, 2019

Eliminating obstacles to the free movement of people, goods, services and capital will facilitate trade and investment in the Western Balkans — but the primary goal of all three countries is EU accession.

EBRD advises Turkey on reforms to open swollen bad debt burden to foreign buyers

bne IntelliNews November 8, 2019

Presently Turkish banks only permitted to sell NPLs to fellow domestic banks or country’s asset management firms. Hungry outsiders might place bids if Ankara opens market to investors looking to securitise the loans.

Romanian presidential election becomes a race for second place

Iulian Ernst in Bucharest November 8, 2019

Sunday’s vote will determine whether incumbent Klaus Iohannis faces recently dismissed prime minister Viorica Dancila or Dan Barna who represents the “new” centre-right against Iohannis’ old guard in the second round.

Q3 FINANCIALS, TURKEY: Isbank beats peers with 9% profit growth but remains far behind real sector outperformers

Akin Nazli in Belgrade November 7, 2019

Outperformers: Turkcell, Ford Otosan, Coca Cola Icecek, Ulker, Anadolu Cam, Enerjisa.

Turkey’s mega airport ‘looking to refinance up to €5bn’

bne IntelliNews November 6, 2019

Grand infrastructure project got off to a less than auspicious start, hitting the share price of Turkish Airlines in the process.

Turkey to redeem $1.5bn of 10-year eurobonds on November 7

Akin Nazli in Belgrade November 5, 2019

Big question mark whether strongman Erdogan is ‘welcome’ on international debt markets following Syria invasion.

IIB successfully executes largest local currency bond placement in Romania

bne IntelliNews November 5, 2019

Orders for the International Investment Bank's latest issue amounted to more than RON500mn and the final book showed a very diversified investor base represented by 18 institutional investors.

Romanian parliament endorses Ludovic Orban's government

Iulian Ernst in Bucharest November 5, 2019

PNL leader to head a heterogeneous coalition of MPs, and will face problems gathering the necessary support for each and every step he wants to take, particularly if it involves a vote in parliament.