News

Turkey’s benchmark rate kept at 24% as widely expected

Akin Nazli in Belgrade January 16, 2019

Opinion split on whether rate-setters will start easing cycle amid deep recession ahead of local elections.

Newly created agency blocks contract with cronies of Hungary's Fidesz-led government

bne IntelliNews January 16, 2019

Fed up with overbilling, Hungarian PM Viktor Orban set up the new agency to oversee state-funded infrastructure investments two weeks ago.

Albania awards 35-year concession for Kukes airport to Dutch-Albanian tie-up

bne IntelliNews January 15, 2019

Albania's second airport to open after Tirana International Airport lost its exclusive right to international flights back in 2016.

Poland reels as Gdansk mayor dies after stabbing

Wojciech Kosc in Warsaw January 15, 2019

Despite early appeals from political leaders not to politicise the assassination of the popular mayor, the odds appear increasingly in favour of ever-deeper fault lines to divide Poland.

Trump and Erdogan defuse Syria tensions in phone call

bne IntelliNews January 15, 2019

Lira recovers losses as US president changes tack, talks of expanding economic development with Turkey.

Romanian banks’ stocks plunge over high tax on assets

Iulian Ernst in Bucharest January 15, 2019

Banca Transilvania shares plunged by nearly 10% after prime ministerial advisor revealed "tax on greed" will be levied quarterly.

Russia sets up a nationwide rubbish management and recycling company

bne IntelliNews January 14, 2019

Dealing effectively with garbage became a political issue in 2018 after 25,000 people took part in a protest over the poor state of a landfill that hosts Moscow’s rubbish.

Leading Russian commercial bank Alfa-Bank valued at $5.1bn in state ordered valuation

bne IntelliNews January 14, 2019

Rumours have been swirling on the Russian bank market that the oligarch owner of Alfa-Bank Mikhail Fridman is in talks to sell up, though this has been denied by the bank.

Markets on edge after Trump threat to “devastate Turkey economically”

Akin Nazli in Belgrade and Will Conroy in Prague January 14, 2019

Analysts doubt US would pull economic trigger as it would drive Erdogan into the arms of Putin.

Serbia to sign €230mn deal with Russia’s RZD on railway upgrade projects

bne IntelliNews January 14, 2019

Belgrade anticipates fresh support for its railway infrastructure during Russian President Vladimir Putin's upcoming visit.

Deepening downturn in Turkey indicated by November industrial output data

Akin Nazli in Belgrade January 14, 2019

Index contracts for third consecutive month. Pace of annual deterioration escalates to 6.5%.

Poland in shock as mayor of Gdansk nearly fatally stabbed at charity event

Wojciech Kosc in Warsaw January 14, 2019

Long-serving mayor was stabbed by a 27-year old man who recently completed a jail sentence following a conviction for a number of bank robberies in Gdansk.

Hungarian investors fall out of love with bonds

bne IntelliNews January 14, 2019

Bond investors raked in big losses last year and money continued to flow out of funds specialising in bond investments, analysis by Portfolio reveals.

Demonstrators call for justice for Oliver Ivanovic at sixth mass protest in Serbia

bne IntelliNews January 13, 2019

Anger over unsolved murder of Kosovan Serb politician fuels anti-government demonstrations in Serbia as first anniversary of his death approaches.

Hungarian PM says stimulus needed to achieve 4% growth target

bne IntelliNews January 12, 2019

Viktor Orban focused on economic issues and laid out his visions for Europe at a rare international press conference.

Macedonian parliament backs country name change in knife-edge vote

Valentina Dimitrievska in Skopje January 11, 2019

MPs vote in constitutional changes that will see the country renamed North Macedonia under a deal with Greece that will unblock Macedonia’s Nato and EU perspectives.

Georgia’s TBC Bank claims “dark PR” as it fights laundering probe

Iulian Ernst in Bucharest January 11, 2019

Prosecutor general’s office investigating consecutive loans made to companies and chairman and deputy chairman of lender.

Nazis and mafia bosses invited to founding of independent Ukrainian church

Ben Aris in Berlin January 10, 2019

Scandal erupts over the inclusion of two leaders of known organised crime groups and the head of the C14 Neo-Nazi group in the delegation lead by President Petro Poroshenko to the ceremony in Istanbul.

Macedonia's crucial deal with Greece hinges on tiny ethnic Albanian party

Valentina Dimitrievska in Skopje January 10, 2019

Final vote on constitutional changes to change country's name to North Macedonia postponed as Besa's two MPs hold the government to ransom.

EBRD investments into Belarus reach record €360mn in 2018

Ben Aris in Berlin January 10, 2019

The EBRD invested more than €360mn in 21 projects in Belarus in 2018, putting it among the top 10 most active of the bank’s 38 countries of operation.

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