Turkey’s retail sales endure worst growth on record

Akin Nazli in Belgrade December 18, 2018

Analysts think country is undergoing a much harder landing than many people expected. Credit crunch seen morphing from complete shutdown in FX-denominated lending to suppression of TRY lending.

Russia's domestic e-commerce market up by 19% in 2018

bne IntelliNews December 18, 2018

Russia's e-commerce market in 2018 could reach RUB1.5 trillion ($22.8bn), according to the estimates by Data Insight cited by Vedomosti daily on December 17. Sales in Russian online stores are expected to increase by 19% to RUB1.15 trillion

Ukraine's government to refuse to reinstate Nasirov

bne IntelliNews December 18, 2018

The Ukrainian government will defy a court ruling to reinstate Roman Nasirov as head of Ukraine’s State Fiscal Service, President Petro Poroshenko told a press conference.

Ukraine faces $17bn debt mountain in 2019-2020

bne IntelliNews December 18, 2018

Ukraine faces a two-year debt payment mountain of $17bn in 2019-2020 as the restructured debt deal expires in the next two years, according to a report from the National Bank of Ukraine (NBU)

MPs thrown out of Hungarian state television station

bne IntelliNews December 18, 2018

Opposition politicians have joined the protests against Hungary's so-called "slave law" extending overtime hours, but were prevented from delivering their message on state TV.

Turkish government ‘pressing banks to transfer large companies’ debt difficulties to their balance sheets’

bne IntelliNews December 18, 2018

Officials are shifting debt problem amid currency crunch from corporate books to bank books, meaning lenders cannot issue new loans, says analyst.

Latest Turkish industrial output data shows deepening downturn

Akin Nazli in Belgrade December 17, 2018

October contraction of 5.7% is second negative reading in a row. Turkey probably entered a technical recession in Q4, says analyst.

Lithuanian central bank issues banking licence to fast-growing fintech company Revolut

bne IntelliNews December 17, 2018

Revolut will now be able to offer banking services such as current accounts, loans and overdrafts, as it aims to hike customer numbers to 100mn within the next five years.

Russia's Gazprom to acquire $1.8bn HQ in St Petersburg

bne IntelliNews December 17, 2018

The Russian natural gas giant is reportedly acquiring its Lakhta centre headquarters in St Petersburg from its oil arm Gazprom Neft for RUB120bn.

Poland climate talks stumble to finish line to achieve deal

Wojciech Kosc in Katowice Poland December 17, 2018

Given the current crisis of international cooperation, the final outcome of the Katowice conference is a step forward for multilateralism that is crucial in addressing climate change.

Thousands protest against Serbia's "autocratic" regime

bne IntelliNews December 16, 2018

Demonstrators defy heavy snowfall to express their anger at President Aleksander Vucic in second mass protest, but president says he will not meet any of their demands.

Romanian opposition submits no-confidence motion

Carmen Simion in Bucharest December 16, 2018

The chances the parliament will pass the motion are minimal, despite tensions within the ruling PSD that have led some of its members to defect.

Protesters keep up pressure over Hungary’s “slave law”

bne IntelliNews December 16, 2018

Thousands of protesters took to the streets for several nights following the Hungarian government's adoption of new legislation on overtime.

Turkish lira tests over 5.40 vs USD as global slowdown fears hurt emerging markets

Akin Nazli in Belgrade December 14, 2018

Analysts, meanwhile, divided on how deep Turkey’s downturn will be. Renaissance says trajectory may mean there will be “decent stories to find in the market”.

Kosovan parliament gives nod to formation of army

Valentina Dimitrievska in Skopje December 14, 2018

The transformation of the Kosovo Security Force into a regular army is fiercely opposed by Serbia, which has never recognised Kosovo as an independent state.

BREAKING: Dogged Katowice climate talks go into overtime as parties near finish line

Wojciech Kosc in Katowice December 14, 2018

Crucial negotiations aiming at a deal detailing rules on how to tackle climate change could now be heading towards a less than conclusive outcome.

Russia's central bank hikes policy rate 25bp to 7.75% in cautious move

Ben Aris in Berlin, Vadim Dumes in Paris December 14, 2018

Closely watched monetary policy meeting results in second increase this year. “Proactive” decision “aimed at limiting inflation risks that remain elevated”.

EU tries to pressurise Putin into prisoner swap for Sentsov

Jason Corcoran in Strasbourg December 14, 2018

The European Parliament is ramping up the pressure on Russian President Vladimir Putin to arrange a prisoner swap for Oleg Sentsov following the Ukrainian film director’s award of the prestigious 2018 Sakharov Prize for human rights.

Profit of Czech forest enterprise Lesy CR down 60% to CZK1.62bn in 3Q18

Nelly Tomcikova in Prague December 14, 2018

The state enterprise has been trying to log as many trees as possible before all trees were infected with the bark beetle which has afflicted Czech forests since 2016.

Iranians rush for ‘Ferdowsi’ trades as rial stages remarkable recovery

bne IntelliNews December 13, 2018

Iranians rush for ‘Ferdowsi’ trades as rial stages remarkable recovery. Central bank appears to have been ploughing dollars into the market.