Latest Updates

Unbundled: the Gas Transmission System Operator of Ukraine

Ukraine's gas market reforms have been a huge success. By unbundling production and transport, the country has attracted hundreds of traders that compete on a vibrant market that has eliminated corrupt scams and brought prices down.

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Romanians gripped by cryptocurrency euphoria during the pandemic

The euphoria of the 1990s is back as small investors ignore the risks and dream of getting rich overnight.

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EXPLAINER: Just how bad are the sanctions on Russia’s ruble-denominated OFZ treasury bonds?

The White House has slapped new sanctions on Russia and targeted the Russian Ministry of Finance ruble-denominated OFZ treasury bills for the first time, the workhorse bond that is used to fund the budget. But what do the sanctions mean in practice?

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Uzbekistan's stock market sees its first big "pump & dump" incident

The share price of Uzbek insurance company Universal Sugurta rose 200,000% in the first two months of this year, only to collapse again in March. It looks like a classic "pump and dump" play, but for the nascent market that's probably a good thing.

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BORDERLEX: EU Commission goes back to the drawing board to revive Turkey trade talks

The Commission's latest attempt to revamp the customs union with Turkey faces many obstacles before it can even start.

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Allegro will have to move fast to stem the Amazon flood

US e-commerce giant's push into the booming Polish market will make it much more competitive overnight.

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COMMENT: Strengthening the foundation of the Uzbek capital markets infrastructure

After their sitting moribund for two and half decades, Uzbek President Shavkat Mirziyoyev has just launched a major reform of the Uzbek capital markets that could transform financing in the republic.

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Zelenskiy meets Macron as Russia engages in a diplomatic dance over a possible Biden-Putin summit

Ukrainian President Volodymyr Zelenskiy called for a summit with Russian President Vladimir Putin and for the restart of the four-way talks under the Normandy Format during a trip to Paris.

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COMMENT: Fresh US sanctions and OFZ primary market ban a global non-event, but sanctions possibly now entrenched almost indefinitely

The US took a mild path for the time being with the new sanctions on Russia’s debt. Sanctioning the primary market activity of OFZs for US entities has little impact on Russia and international financial markets.

Read Story

Strong hopes Georgia's political crisis is over after EU brokered agreement

FPRI BMB Ukraine: How well could Ukraine defend itself against a Russian attack?

Bulgaria’s outgoing government under scrutiny over sudden hike in budget deficit

Strong hopes Georgia's political crisis is over after EU brokered agreement

Way paved for release of opposition leader and electoral and judicial reforms.

FPRI BMB Ukraine: How well could Ukraine defend itself against a Russian attack?

Russia’s military exercises near the Ukrainian border have many analysts looking into Ukraine’s capacity to defend against a full-fledged attack. While Kyiv has invested heavily in modernising its military, it remains seriously outgunned.

Bulgaria’s outgoing government under scrutiny over sudden hike in budget deficit

Bulgaria reported a consolidated budget deficit of €335.7mn in the first quarter of 2021 and will have to borrow to patch the gap later this year.

News

Team Navalny pulls the trigger on the next big demonstration scheduled for April 21

Supporters of jailed anti-corruption activist and opposition politician Alexei Navalny called for the next big anti-government demonstration on April 21, the same day as Russian President Vladimir Putin gives a State of the Nation Speech.

Samolet see EBITDA up by half despite the coronacrisis

Since Russian residential developer Samolet Group listed on the Moscow Exchange (MOEX) in October last year with a valuation of $721mn a lot has happened. Surprisingly most of it has been good.

Will Belarus merge with Russia this week?

Social media was buzzing with speculation after Belarus' President Alexander Lukashenko said that he was going to announce a “principled” decision of the last quarter century this week on April 17.

Navalny close to death as Kremlin attempts to ban his group as extremist

Jailed anti-corruption activist and opposition politician Alexei Navalny is close to death as he goes into his 19th day of a hunger strike in prison and the Russian authorities try to ban his organisation as "extremist."

Azerbaijan fires info war salvo against Russia

After previously denying it, Azerbaijan now says that Armenia fired Russian-made rockets during last year’s war. And now they’re trying to make things difficult for Moscow.

Team Navalny pulls the trigger on the next big demonstration scheduled for April 21

19 hours ago

Samolet see EBITDA up by half despite the coronacrisis

22 hours ago

Will Belarus merge with Russia this week?

1 day ago

Navalny close to death as Kremlin attempts to ban his group as extremist

1 day ago

Azerbaijan fires info war salvo against Russia

1 day ago

More News

Tech

EWDN: Sber goes into video with Movika acquisition

In late March Sber took control of a Russian video creation start-up called Movika.

EWDN: Russian investors put millions into smartphone service startups

A pool of individual investors has put RUB431mn into Beri Zaryad, a Moscow-based smartphone charging service.

Kazakhtelecom to focus on content

State-run Kazakhtelecom, Kazakhstan's largest telco, plans to produce more of its own content, seeing it as a promising direction of development at a time when regular telecom services are no longer as profitable as they used to be.

EWDN: Investment in Ukrainian-founded startups reached record high $571mn in 2020

In 2020, the total VC and PE investment volume in Ukrainian or Ukrainian-founded tech companies reached a record high $571mn, according to a new report from AVentures Capital

Kremlin gives Twitter another month to comply with content removal demands

Russia’s internet regulator Roskomnadzor has extended the deadline until May 15 for Twitter to delete content the government objects to or face a ban, the watchdog said on April 6.

EWDN: Sber goes into video with Movika acquisition

7 days ago

EWDN: Russian investors put millions into smartphone service startups

7 days ago

Kazakhtelecom to focus on content

7 days ago

EWDN: Investment in Ukrainian-founded startups reached record high $571mn in 2020

12 days ago

Kremlin gives Twitter another month to comply with content removal demands

13 days ago

More Tech

Opinion

COMMENT: Fresh US sanctions and OFZ primary market ban a global non-event, but sanctions possibly now entrenched quasi indefinitely

The US took a mild path for the time being with the new sanctions on Russia’s debt. Sanctioning the primary market activity of OFZs for US entities has little impact on Russia and international financial markets.

MITTELEUROPEAN INSIGHTS: Russian 'sanctions bubble' vs Ukrainian and Turkish fundamentals

For financial market investors, Russia is currently in the same basket as Turkey and Ukraine, but only on a temporary basis.

TRENIN: Russia-Ukraine war alert – what’s behind it and what lies ahead?

Perhaps the most important thing for the Russian leadership in this episode was to prevent the need to actually go to war against Ukraine in the future. Going for overkill in terms of military manoeuvres now prevents actual war later.

ING: Russian ruble downgraded on weak balance of payments in 1Q21

In 1Q21, ruble weakness was caused not just by political tensions, but also by a disappointing trade balance and resumed preference for foreign assets by residents. ING has downgraded its mid-year ruble expectations to USD/RUB75.

FPRI BMB Ukraine: Minsk peace talks may abandon Minsk

Ukraine has announced that it will not hold further peace talks in Minsk within the framework of the Trilateral Contact Group.

COMMENT: Fresh US sanctions and OFZ primary market ban a global non-event, but sanctions possibly now entrenched quasi indefinitely

4 days ago

MITTELEUROPEAN INSIGHTS: Russian 'sanctions bubble' vs Ukrainian and Turkish fundamentals

5 days ago

TRENIN: Russia-Ukraine war alert – what’s behind it and what lies ahead?

6 days ago

ING: Russian ruble downgraded on weak balance of payments in 1Q21

7 days ago

FPRI BMB Ukraine: Minsk peace talks may abandon Minsk

7 days ago

More Opinion

Data

Romania’s Chimcomplex shares soar by 29% on WSE listing news

Shares in the Romanian chemical group are up 92% since the beginning of this year.

Montenegro’s public debt spikes at 82.48% of GDP in 2020

Montenegro's biggest creditor is China’s Exim Bank, which lent the country most of the funds for the Smokovac-Matesevo highway.

Polish core inflation rises to 3.9% y/y in March

Analysts expect headline CPI to hover around 3% in 2021, above the central bank’s inflation target of 2.5%.

Romania’s construction works down 0.6% in 2M21

Better performance in February and strong growth in civil engineering failed to counter sluggish January.

Turkish Airlines flies only 2.5mn passengers in March

Resurgence in Turkey’s coronavirus outbreak looks set to hinder flag carrier’s attempts to stage a recovery.

Romania’s Chimcomplex shares soar by 29% on WSE listing news

4 hours ago

Montenegro’s public debt spikes at 82.48% of GDP in 2020

18 hours ago

Polish core inflation rises to 3.9% y/y in March

1 day ago

Romania’s construction works down 0.6% in 2M21

2 days ago

Turkish Airlines flies only 2.5mn passengers in March

2 days ago

More Data

Features

Kyrgyzstan president prescribes poison root for COVID-19

The health minister then drank the concoction at a press conference.

Geopolitics makes the Russian ruble rate highly volatile

The Russian ruble has been through some wild swings this year as it has almost completely decoupled from the price of oil and is almost entirely dependent on the ebbs and flows of geopolitical tension.

The new no 1 in Romania’s private medical sector

Regina Maria overtook rival MedLife to become the biggest player in the Romanian private medical services market. Private equity backer Mid Europa Partners plans to build it up further.

Bulgaria’s new sheriff in town

Slavi Trifonov is the favourite to become Bulgaria’s next prime minister while Boyko Borissov is consigned to the dustbin of history. But are the two politicians so different?

Next steps for Romania’s Fondul Proprietatea

It’s ten years since Fondul Proprietatea listed on the Bucharest Stock Exchange. bne IntelliNews looks at what’s next, including the upcoming IPO of its largest portfolio company, Hidroelectrica.

Kyrgyzstan president prescribes poison root for COVID-19

3 days ago

Geopolitics makes the Russian ruble rate highly volatile

4 days ago

The new no 1 in Romania’s private medical sector

8 days ago

Bulgaria’s new sheriff in town

9 days ago

Next steps for Romania’s Fondul Proprietatea

9 days ago

More Features

Blogs

ISTANBUL BLOG: Portfolio flows stabilise but don’t fall into a recovery trance

Derisory attempts at defending the lira in evidence. The fact that the country’s coronavirus crisis is about to go hardcore will not help.

MOSCOW BLOG: It’s time for a new pan-European security treaty

Five years ago I wrote an op-ed calling for a new pan-European security treaty. The piece opened with these words: “We are in the middle of the worst political crisis since the end of the Cold War and there is a very real possibility of war."

ISTANBUL BLOG: Portfolio outflows decline but Turkey not out of the woods yet

Anxious times for a central bank with a net FX position of around minus $60bn.

BALKAN BLOG: Few routes to power in Bulgaria’s fragmented new parliament

After voters left PM Boyko Borissov out in the cold in the April 4 general election, the possibilities for forming a new government are slim and a new snap election is the most likely outcome.

ISTANBUL BLOG: Official inflation bumps up to 16.2%

Thigh deep in the economic quagmire, Erdogan regime at least hears that as things stand Europe can live with it, while Biden seems unlikely to opt for a ruckus.

ISTANBUL BLOG: Portfolio flows stabilise but don’t fall into a recovery trance

12 hours ago

MOSCOW BLOG: It’s time for a new pan-European security treaty

11 days ago

ISTANBUL BLOG: Portfolio outflows decline but Turkey not out of the woods yet

11 days ago

BALKAN BLOG: Few routes to power in Bulgaria’s fragmented new parliament

14 days ago

ISTANBUL BLOG: Official inflation bumps up to 16.2%

14 days ago

More Blogs

Latest Updates

News

Supporters of jailed anti-corruption activist and opposition politician Alexei Navalny called for the next big anti-government demonstration on April 21, the same day as Russian President Vladimir Putin gives a State of the Nation Speech.

Since Russian residential developer Samolet Group listed on the Moscow Exchange (MOEX) in October last year with a valuation of $721mn a lot has happened. Surprisingly most of it has been good.

Social media was buzzing with speculation after Belarus' President Alexander Lukashenko said that he was going to announce a “principled” decision of the last quarter century this week on April 17.

Jailed anti-corruption activist and opposition politician Alexei Navalny is close to death as he goes into his 19th day of a hunger strike in prison and the Russian authorities try to ban his organisation as "extremist."

After previously denying it, Azerbaijan now says that Armenia fired Russian-made rockets during last year’s war. And now they’re trying to make things difficult for Moscow.

Tech

In late March Sber took control of a Russian video creation start-up called Movika.

A pool of individual investors has put RUB431mn into Beri Zaryad, a Moscow-based smartphone charging service.

State-run Kazakhtelecom, Kazakhstan's largest telco, plans to produce more of its own content, seeing it as a promising direction of development at a time when regular telecom services are no longer as profitable as they used to be.

In 2020, the total VC and PE investment volume in Ukrainian or Ukrainian-founded tech companies reached a record high $571mn, according to a new report from AVentures Capital

Russia’s internet regulator Roskomnadzor has extended the deadline until May 15 for Twitter to delete content the government objects to or face a ban, the watchdog said on April 6.

Opinion

The US took a mild path for the time being with the new sanctions on Russia’s debt. Sanctioning the primary market activity of OFZs for US entities has little impact on Russia and international financial markets.

For financial market investors, Russia is currently in the same basket as Turkey and Ukraine, but only on a temporary basis.

Perhaps the most important thing for the Russian leadership in this episode was to prevent the need to actually go to war against Ukraine in the future. Going for overkill in terms of military manoeuvres now prevents actual war later.

In 1Q21, ruble weakness was caused not just by political tensions, but also by a disappointing trade balance and resumed preference for foreign assets by residents. ING has downgraded its mid-year ruble expectations to USD/RUB75.

Ukraine has announced that it will not hold further peace talks in Minsk within the framework of the Trilateral Contact Group.

Data

Shares in the Romanian chemical group are up 92% since the beginning of this year.

Montenegro's biggest creditor is China’s Exim Bank, which lent the country most of the funds for the Smokovac-Matesevo highway.

Analysts expect headline CPI to hover around 3% in 2021, above the central bank’s inflation target of 2.5%.

Better performance in February and strong growth in civil engineering failed to counter sluggish January.

Resurgence in Turkey’s coronavirus outbreak looks set to hinder flag carrier’s attempts to stage a recovery.

Features

The health minister then drank the concoction at a press conference.

The Russian ruble has been through some wild swings this year as it has almost completely decoupled from the price of oil and is almost entirely dependent on the ebbs and flows of geopolitical tension.

Regina Maria overtook rival MedLife to become the biggest player in the Romanian private medical services market. Private equity backer Mid Europa Partners plans to build it up further.

Slavi Trifonov is the favourite to become Bulgaria’s next prime minister while Boyko Borissov is consigned to the dustbin of history. But are the two politicians so different?

It’s ten years since Fondul Proprietatea listed on the Bucharest Stock Exchange. bne IntelliNews looks at what’s next, including the upcoming IPO of its largest portfolio company, Hidroelectrica.

Blogs

Derisory attempts at defending the lira in evidence. The fact that the country’s coronavirus crisis is about to go hardcore will not help.

Five years ago I wrote an op-ed calling for a new pan-European security treaty. The piece opened with these words: “We are in the middle of the worst political crisis since the end of the Cold War and there is a very real possibility of war."

Anxious times for a central bank with a net FX position of around minus $60bn.

After voters left PM Boyko Borissov out in the cold in the April 4 general election, the possibilities for forming a new government are slim and a new snap election is the most likely outcome.

Thigh deep in the economic quagmire, Erdogan regime at least hears that as things stand Europe can live with it, while Biden seems unlikely to opt for a ruckus.

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The world was hit by a global pandemic and an oil shock in 2020 but as 2021 gets underway the economies in Emerging Europe are bou....

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