Latest Updates

Second wave fears: virus resurging in arc across Iran and Caucasus neighbours

Iranians, Armenians and Azerbaijanis are struggling to make their post-lockdown COVID-19 programmes work.

Read Story

MOSCOW BLOG: Russia’s rebound becomes visible as the ruble breaks below RUB70 to the dollar

The ruble broke back below RUB70 to the dollar this week and was trading at RUB68.48 to the dollar after oil prices briefly touched $40. A predicted rebound in the Russian economy appears to be underway.

Read Story

BALKAN BLOG: Barber of Skopje feeds the hungry during coronavirus epidemic

North Macedonia's government has announced financial recovery packages, but only the destitute qualify for aid. Ali Fevzi’s humanitarian mission is sorely needed.

Read Story

KYIV BLOG: Has Zelenskiy broken with Kolomoisky?

Ukrainian President Volodymyr Zelenskiy has recently made several bold moves that directly run against the interests of his mentor and sponsor oligarch Ihor Kolomoisky

Read Story

ISTANBUL BLOG: Erdogan’s regulators hit uncooperative private banks with blunter instrument

Watchdog amends asset ratio calculation methodology after lenders find loopholes. President determined all banks should play a full role in delivering more cheap money. But some non-state players appear to be getting heartily fed up.

Read Story

COMMENT: Some key macroeconomic indicators for Romania during the pandemic times

Even before the crisis, the Romanian macroeconomic equilibria were very fragile. Now Romania needs a set of measures to relaunch the economy and put it on a better footing for the future.

Read Story

STOLYPIN: Coronavirus and Kremlin stressing Russia’s elite social contract

To some, under the influence of the COVID-19 pandemic, Vladimir Putin’s much-vaunted ‘power vertical’ is rotating, turning on its head. Power has shifted from the centre to the regions

Read Story

LONG READ: The Growers - a handful of countries in New Europe are coping with the coronacrisis and are still expanding

Gold-exporting Uzbekistan has the emerging Europe region's best shot at achieving positive GDP growth this year. Other economies managed to expand in Q1 but will be pushed into full-year contractions.

Read Story

Russia’s VTB trapped in a London lockdown until 2024

Russians state-owned banking giant VTB is trapped in an expensive lease for its European headquarters in London for another four years even as the Kremlin-controlled lender builds up a new investment base in Frankfurt, bne IntelliNews can reveal.

Read Story

Turkey’s parliament strips three MPs of status on day fears mount over formation of regime force ‘loyal only to Erdogan’

Russian fuel spill declared federal emergency

Turkey sees unexpected rise in inflation as lira weakness pushes up prices

Turkey’s parliament strips three MPs of status on day fears mount over formation of regime force ‘loyal only to Erdogan’

Move made against opposition lawmakers after court confirms government secrets and terrorism convictions. Auxiliary watchmen set to get muscled-up role.

Russian fuel spill declared federal emergency

The Kremlin has declared a spill of diesel fuel at the power plant of Norilsk Nickel metals major in the Krasnoyarsk region as a federal emergency, and heads may start rolling as deep structural ESG dangers are exposed.

Turkey sees unexpected rise in inflation as lira weakness pushes up prices

Elevated food and energy prices counter downward impact on demand of coronavirus crisis. Despite development, further rate cut still anticipated.

News

Russia says Armenia to make Kalashnikovs, US senator ‘alarmed by Trump administration military aid for Azerbaijan’

Annual production volume of 50,000 rifles expected. US Government Accountability Office asked to provide detailed report addressing American lawmaker’s concerns.

Belarus president appoints veteran 'silovik' to PM post amid dramatic election campaign

Belarus' authoritarian President Alexandr Lukashenko appoints "reliable" Roman Golovchenko as new Prime Minister ahead of August election

Foot traffic at Russia’s leading malls jumps as rebound gets underway

The volume of foot traffic in Moscow’s leading malls increased sharply on June 1 as the lockdown restrictions in Russia’s capital start to be eased and residents go to the mall.

Armenia’s coronavirus plight worsens with more than 1,000 more infections in two days

Steady growth of cases since impoverished country relaxed its nationwide lockdown. PM among those that have contracted the virus.

Authorities “may be sowing seeds of Turkish economy’s downfall” by pumping money at fastest rate for more than decade

The money supply, as measured by the M1 gauge—which includes currency in circulation and bank deposits—is growing at an annual rate of almost 80%

Russia says Armenia to make Kalashnikovs, US senator ‘alarmed by Trump administration military aid for Azerbaijan’

1 day ago

Belarus president appoints veteran 'silovik' to PM post amid dramatic election campaign

1 day ago

Foot traffic at Russia’s leading malls jumps as rebound gets underway

2 days ago

Armenia’s coronavirus plight worsens with more than 1,000 more infections in two days

2 days ago

Authorities “may be sowing seeds of Turkish economy’s downfall” by pumping money at fastest rate for more than decade

2 days ago

More News

Tech

Russia's Sberbank eyes 30% in Ozon e-commerce major

Russia's largest state-controlled bank Sberbank eyes 30% stake in e-commerce major Ozon controlled by multi-industry investment conglomerate AFK Sistema, Reuters reported on June 4 citing unnamed sources close to the deal.

Zynga to buy mobile game maker Peak for $1.8bn in Turkey’s first technology “unicorn exit”

Deal sealed while games industry riding high on locked-down consumers staying at home with few live-entertainment options amid pandemic.

ICT minister unveils Iran ‘Netflix’ plan

Aim is to connect 5mn households to internet television and video-on-demand services.

Estonia and Latvia among first countries to use coronavirus tracing app based on Apple/Google tech

Tracings apps are intended to allow identification and fast isolating of people suspected of carrying the virus and testing of those who might have been in contact with them.

Estonian ride-hailing service Bolt raises €100mn in latest financing round

The capital injection comes in spite of Bolt suffering a severe decline in demand under lockdown. CEO Markus Villig says the long-term drivers of on-demand mobility continue to grow.

Russia's Sberbank eyes 30% in Ozon e-commerce major

1 day ago

Zynga to buy mobile game maker Peak for $1.8bn in Turkey’s first technology “unicorn exit”

4 days ago

ICT minister unveils Iran ‘Netflix’ plan

8 days ago

Estonia and Latvia among first countries to use coronavirus tracing app based on Apple/Google tech

10 days ago

Estonian ride-hailing service Bolt raises €100mn in latest financing round

10 days ago

More Tech

Opinion

LONG READ: A thinking exercise on Turkey and its lira

Erdogan administration officials are working around the clock trying to convince the world the currency can defy gravity. Nothing adds up in their favour. The worry is that they will end up trying to defy voters instead.

COMMENT: Waking Sleeping Beauty: shaking up Uzbekistan’s banking sector

Whilst, the world was in a lockdown, the government of Uzbekistan has been busy reforming the banking sector. The government announced a detailed banking reform strategy for 2020-2025 to transform the sector

COMMENT: Will Central Europe’s economic recovery be stymied by populist banking laws?

Multiple financial fires raging across Central and Eastern Europe could have been put out had EU institutions responded sooner to the populist lawfare banks have been put through over the past few years.

OPINION: Why the Russian economy will inevitably become green after the COVID-19 epidemic is over

Investors are “risk on” again thanks to the coronavirus, but the climate crisis has not gone away, nor has work to build a financial green infrastructure stopped. Russian companies will inevitably join the fray and are already taking action

ING: Russia - The curious case of FX interventions

The Central Bank of Russia will make FX sales of more than $2.6bn in May, lowering the risks of a weaker ruble.

LONG READ: A thinking exercise on Turkey and its lira

11 days ago

COMMENT: Waking Sleeping Beauty: shaking up Uzbekistan’s banking sector

10 days ago

COMMENT: Will Central Europe’s economic recovery be stymied by populist banking laws?

17 days ago

OPINION: Why the Russian economy will inevitably become green after the COVID-19 epidemic is over

18 days ago

ING: Russia - The curious case of FX interventions

24 days ago

More Opinion

Data

Russia's services PMI bounces back to 35.9 in May from a record low of 12.9% in April, but business still contracting

The seasonally adjusted IHS Markit Russia Services Business Activity Index recovered to 35.9 in May, up from April's nadir of 12.2. Although the index bounced back it is still deeply in the red and at its second-lowest value since early 2009.

Easing of lockdowns offers hope to emerging Europe’s COVID-struck economies

Governments continue to lift restrictions but there are warnings over a surge in new infections in Armenia, Iran and North Macedonia.

Kazakh manufacturing ekes out PMI expansion in May

Index improves to 50.1 from 39.3 as coronavirus lockdowns are eased.

A third of Russians are ready to participate in a mass protest against falling living standards

A third (28%) of Russians are ready to participate in a mass protest against falling living standards, according to independent pollster the Levada Center in a survey released on June 1.

Romanian banks post 9% y/y smaller profit in Q1

The coronavirus pandemic drove down the local banks' profits as several lenders set aside provisions to mitigate the higher risks generated by the COVID-19 crisis.

Russia's services PMI bounces back to 35.9 in May from a record low of 12.9% in April, but business still contracting

2 days ago

Easing of lockdowns offers hope to emerging Europe’s COVID-struck economies

3 days ago

Kazakh manufacturing ekes out PMI expansion in May

4 days ago

A third of Russians are ready to participate in a mass protest against falling living standards

3 days ago

Romanian banks post 9% y/y smaller profit in Q1

4 days ago

More Data

Features

Uzbekistan pledges huge investments in troubled exclave

PM Aripov said $100mn will be spent overhauling Sokh.

Investors hot for corona Eurobond issues from Southeast Europe

Governments across the region have turned to the international capital markets to raise money to meet the gap between increased costs and lower revenues as a result of the coronavirus pandemic.

Foreign share of Ukraine's domestic bonds falling, demand for fresh debt spluttering

Foreign investors piled into Ukraine’s local debt market since it was hooked up to Clearstream’s international payment and settlement system last March, investing $5bn, but now they are selling

Movie night at the airport

Central Europeans in need of a culture fix after weeks of lockdown can now watch films at a growing number of drive-ins and outdoor cinemas opened in car parks, airport aprons and other open spaces as restrictions are eased.

Raw feelings in Turkmenistan as Berdimuhamedov pays 3.51 to the dollar

‘Hermit nation’ has been crisis-stricken ever since the previous energy price collapse. Reduced demand for gas from COVID-19 impacted China, savage windstorms and pandemic impacts on food imports move it ever nearer the edge.

Uzbekistan pledges huge investments in troubled exclave

9 hours ago

Investors hot for corona Eurobond issues from Southeast Europe

3 days ago

Foreign share of Ukraine's domestic bonds falling, demand for fresh debt spluttering

8 days ago

Movie night at the airport

13 days ago

Raw feelings in Turkmenistan as Berdimuhamedov pays 3.51 to the dollar

14 days ago

More Features

Blogs

BALKAN BLOG: National Theatre demolition adds fuel to Albania’s fiery politics

Experience in other countries in the region has shown that protest movements born out of campaigns over urban heritage have sticking power.

KYIV BLOG: Ukraine battered by the winds of crisis, but still standing on its feet

As one of the poorest countries in the region that is in a very weak macroeconomic position, Ukraine is one of the most vulnerable to the series of external shocks delivered in the last two months.

BALKAN BLOG: Why is it so difficult to set an election date in North Macedonia?

The coronavirus pandemic postponed North Macedonia's general election, but now the situation is returning to normal, political parties cannot agree on an election date. With the parliament dismissed in February, the way out of the crisis is unclear.

VISEGRAD BLOG: An average working day at the Hungarian parliament

On May 19 MPs voted to strip cultural workers of their public employment status, ban people from legally changing their gender and classify data on Hungary's largest-ever railway reconstruction project.

TEHRAN BLOG: Trump frets as Iranian fuel tanker steams to Venezuela

Maduro said to be paying Tehran in bars of gold for gasoline to relieve acute shortages. US president—needing a foreign policy victory such as the dislodging of the strongman ahead of his re-election bid—is reportedly considering his options.

BALKAN BLOG: National Theatre demolition adds fuel to Albania’s fiery politics

8 days ago

KYIV BLOG: Ukraine battered by the winds of crisis, but still standing on its feet

10 days ago

BALKAN BLOG: Why is it so difficult to set an election date in North Macedonia?

11 days ago

VISEGRAD BLOG: An average working day at the Hungarian parliament

17 days ago

TEHRAN BLOG: Trump frets as Iranian fuel tanker steams to Venezuela

21 days ago

More Blogs

Latest Updates

News

Annual production volume of 50,000 rifles expected. US Government Accountability Office asked to provide detailed report addressing American lawmaker’s concerns.

Belarus' authoritarian President Alexandr Lukashenko appoints "reliable" Roman Golovchenko as new Prime Minister ahead of August election

The volume of foot traffic in Moscow’s leading malls increased sharply on June 1 as the lockdown restrictions in Russia’s capital start to be eased and residents go to the mall.

Steady growth of cases since impoverished country relaxed its nationwide lockdown. PM among those that have contracted the virus.

The money supply, as measured by the M1 gauge—which includes currency in circulation and bank deposits—is growing at an annual rate of almost 80%

Tech

Russia's largest state-controlled bank Sberbank eyes 30% stake in e-commerce major Ozon controlled by multi-industry investment conglomerate AFK Sistema, Reuters reported on June 4 citing unnamed sources close to the deal.

Deal sealed while games industry riding high on locked-down consumers staying at home with few live-entertainment options amid pandemic.

Aim is to connect 5mn households to internet television and video-on-demand services.

Tracings apps are intended to allow identification and fast isolating of people suspected of carrying the virus and testing of those who might have been in contact with them.

The capital injection comes in spite of Bolt suffering a severe decline in demand under lockdown. CEO Markus Villig says the long-term drivers of on-demand mobility continue to grow.

Opinion

Erdogan administration officials are working around the clock trying to convince the world the currency can defy gravity. Nothing adds up in their favour. The worry is that they will end up trying to defy voters instead.

Whilst, the world was in a lockdown, the government of Uzbekistan has been busy reforming the banking sector. The government announced a detailed banking reform strategy for 2020-2025 to transform the sector

Multiple financial fires raging across Central and Eastern Europe could have been put out had EU institutions responded sooner to the populist lawfare banks have been put through over the past few years.

Investors are “risk on” again thanks to the coronavirus, but the climate crisis has not gone away, nor has work to build a financial green infrastructure stopped. Russian companies will inevitably join the fray and are already taking action

The Central Bank of Russia will make FX sales of more than $2.6bn in May, lowering the risks of a weaker ruble.

Data

The seasonally adjusted IHS Markit Russia Services Business Activity Index recovered to 35.9 in May, up from April's nadir of 12.2. Although the index bounced back it is still deeply in the red and at its second-lowest value since early 2009.

Governments continue to lift restrictions but there are warnings over a surge in new infections in Armenia, Iran and North Macedonia.

Index improves to 50.1 from 39.3 as coronavirus lockdowns are eased.

A third (28%) of Russians are ready to participate in a mass protest against falling living standards, according to independent pollster the Levada Center in a survey released on June 1.

The coronavirus pandemic drove down the local banks' profits as several lenders set aside provisions to mitigate the higher risks generated by the COVID-19 crisis.

Features

PM Aripov said $100mn will be spent overhauling Sokh.

Governments across the region have turned to the international capital markets to raise money to meet the gap between increased costs and lower revenues as a result of the coronavirus pandemic.

Foreign investors piled into Ukraine’s local debt market since it was hooked up to Clearstream’s international payment and settlement system last March, investing $5bn, but now they are selling

Central Europeans in need of a culture fix after weeks of lockdown can now watch films at a growing number of drive-ins and outdoor cinemas opened in car parks, airport aprons and other open spaces as restrictions are eased.

‘Hermit nation’ has been crisis-stricken ever since the previous energy price collapse. Reduced demand for gas from COVID-19 impacted China, savage windstorms and pandemic impacts on food imports move it ever nearer the edge.

Blogs

Experience in other countries in the region has shown that protest movements born out of campaigns over urban heritage have sticking power.

As one of the poorest countries in the region that is in a very weak macroeconomic position, Ukraine is one of the most vulnerable to the series of external shocks delivered in the last two months.

The coronavirus pandemic postponed North Macedonia's general election, but now the situation is returning to normal, political parties cannot agree on an election date. With the parliament dismissed in February, the way out of the crisis is unclear.

On May 19 MPs voted to strip cultural workers of their public employment status, ban people from legally changing their gender and classify data on Hungary's largest-ever railway reconstruction project.

Maduro said to be paying Tehran in bars of gold for gasoline to relieve acute shortages. US president—needing a foreign policy victory such as the dislodging of the strongman ahead of his re-election bid—is reportedly considering his options.

Newsletters

Most Read

Podcasts

Uzbekistan was quick to clamp down as the coronavirus epidemic gathered pace and as Central Asia’s most populous country it had ....

Selected articles from our premium news/views wire IntelliNews Pro

Follow Us On

Reports

Cookies on the bne IntelliNews website