Latest Updates

NEWSBASE: The attacks on Saudi oil infrastructure are the oil industry's 9/11

The attacks on Saudi oil infrastructure could turn out to be the oil industry’s 9/11. Reacting to the news, JP Morgan said: “Clearly oil assets have been massively mispriced. The assumption that production facilities are secure is wrong."

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CHALLENGING ERDOGAN: Another former ally walks out on Turkey’s strongman

Ex-PM Ahmet Davutoglu has followed former economic czar Ali Babacan in quitting the ruling AKP. Once known as the president’s right-hand man, he declared: “It has become a historic responsibility for us to build a new political movement.”

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CONFERENCE CALL: YES in Ukraine fails to answer the key question

Investors and political celebrities made their way to Kyiv this week for the annual Yalta Economic Summit (YES) hosted by top Ukrainian oligarch Victor Pinchuk, but questions remain unanswered.

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TURKEY INSIGHT: Rate-setters go for another dizzying descent

Cut of 325 bp taken as tolerable by the markets with pace of easing seen as likely to slow. Rallying lira confounds analysts. If a wheel is set to come off ‘Erdoganomics’, the signs have not been detected yet.

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When Chinese deals turn sour

Tighter regulation and growing geopolitical tensions have caused a downturn in global Chinese outward FDI in the past two years. The Central and Eastern Europe region is no exception.

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Russia's net public debt falls to zero

Russian President Vladimir Putin has a bee in his bonnet about debt. He paid off Russia's debts early and encouraged the government to build up its reserves. Now the state can cover all of its debts with cash.

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The Mitteleuropean view: Putin’s Belarusian ace stays in the hole?

Negotiations between Belarus and Russia on deeper economic integration are nearing completion, and the potential for surprises – such as a political or currency union – is expected to diminish.

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Uzbekistan resurrects its heroes in a search for its identity

Academics say nation's young post-Soviet generations need to discover the past to find out who they really are as they build a modern country. Memories of figures such as Tamerlane and the Uzbek who gave the world the zero are being revived.

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Where is Russia’s stock market headed this year?

Russia’s stock market rallied in the second quarter of this year, up some 30% since January, and broke through the 1,400 level briefly in June for the first time since the annexation of the Crimea in 2014. What happens next?

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Drone attacks on Saudi oil facilities not set to impact oil flows to Europe in big way

Bulgarian national broadcaster BNR shut down for hours after prominent journalist suspended

Iran’s Zarif accuses US counterpart Pompeo of “max deceit” over claims Tehran was behind drone attacks on Saudi oil facilities

Drone attacks on Saudi oil facilities not set to impact oil flows to Europe in big way

Europe takes little oil from Middle East. It is heavily dependent on Russia for crude deliveries and can turn to Moscow to fill any gaps. The effect on the oil price, however, is a different matter.

Bulgarian national broadcaster BNR shut down for hours after prominent journalist suspended

The decision to suspend Silvia Velikova caused a storm in Bulgaria as it was seen as yet another attempt to silence journalists critical of those in power.

Iran’s Zarif accuses US counterpart Pompeo of “max deceit” over claims Tehran was behind drone attacks on Saudi oil facilities

Fraught situation as world waits on US to settle on a response.

News

Zelenskiy looking for a breakthrough to end the Donbas conflict with Russia

Zelenskiy hopes to secure the withdrawal of Russian forces from the Donbas in the east of the country, where more than 13,000 Ukrainian servicemen have been killed in the conflict in the last five years.

Ukraine’s infrastructure ministry may pay compensation to Kolomoisky for Ukraine International Airlines' sanctions loses

Ministry says it is willing to pay a reported $216mn of compensation to Ukraine International Airlines that belongs to oligarch Ihor Kolomoisky for loses incurred because of a Russian overflight ban.

Hankook postpones capacity expansion in Hungary

Speculation that South Korean tyre maker's decision to delay €268mn investment at its Hungarian plant is linked to shortage of workforce.

Turkcell switching to single instalment for TRY1.01bn dividend

Largest Turkish mobile operator says shareholders Telia, Cukurova Holding and Russian tycoon Mikhail Fridman’s LetterOne have agreed to vote for profit distribution.

Ukraine passes presidential impeachment law, to cull Central Election Commission and pass a new illicit enrichment law

Ukraine’s parliament continued its legislative tsumani by passing laws that allow the president to be removed by impeachment, cut the number of Supreme Court judges by a third and toughen the punishments for corrupt officials .

Zelenskiy looking for a breakthrough to end the Donbas conflict with Russia

23 hours ago

Ukraine’s infrastructure ministry may pay compensation to Kolomoisky for Ukraine International Airlines' sanctions loses

22 hours ago

Hankook postpones capacity expansion in Hungary

4 days ago

Turkcell switching to single instalment for TRY1.01bn dividend

5 days ago

Ukraine passes presidential impeachment law, to cull Central Election Commission and pass a new illicit enrichment law

5 days ago

More News

Tech

Russian digital major Yandex launches an investment portal with VTB Bank

Yandex has announced that it is getting into bed with the state’s second biggest bank VTB bank to create a fintech service to sell equities and funds to retail investors.

Romanian private equity fund Morphosis buys stake in IT startup DocProcess

Investment will allow family owned DocProcess to expand in Romania and in the wider European market.

Czech energy giant CEZ buys a stake in German solar start-up Zolar

CEZ executive calls Zolar the "pioneer of an innovative, decentralised model for purchasing rooftop solar systems".

Sberbank and Trafigura of Singapore make pilot blockchain transaction securing West Siberian oil sales

Pilot blockchain transaction during Russia’s Eastern Economic Forum is an early foray into a technology that is popular with Russians.

“Airbnb for boats” GetMyBoat reports surge in Southeast European business

GetMyBoat, which describes itself as the world’s largest “Airbnb (or Uber) for boats” has seen a dramatic surge in business in Central, Eastern and especially Southeast Europe this summer.

Russian digital major Yandex launches an investment portal with VTB Bank

3 days ago

Romanian private equity fund Morphosis buys stake in IT startup DocProcess

4 days ago

Czech energy giant CEZ buys a stake in German solar start-up Zolar

5 days ago

Sberbank and Trafigura of Singapore make pilot blockchain transaction securing West Siberian oil sales

6 days ago

“Airbnb for boats” GetMyBoat reports surge in Southeast European business

7 days ago

More Tech

Opinion

Stagnation in Russia: how many opportunities are there for international (investment) banks in the rest of the CIS region?

Russia is not a growing market for international banking and capital market business at present. That's why people like to look for business and deal opportunities in smaller regional markets in the CIS region.

Who’s behind the proposed Turkish buyer of British Steel?

GPW Political Risk on how the move by a military pension fund unit to acquire the unloved, neglected UK company may have been motivated by Turkish President Recep Tayyip Erdogan’s personal agenda—and he may require a political quid pro quo.

Russian sanctions fifth anniversary, but no reason to celebrate

This summer mark the fifth anniversary of Western sanctions against Russia. But taking a quick look at Russian economic and financial sector indicators and you'd wonder if the sanctions are still in place.

COMMENT: Romania's inflation above 4% again

At 4.1% y/y, Romania's July inflation will probably be the highest print for the year, ING analysts write.

ING: Czech Republic: Surprising fall in industry

Industrial output fell by 6.4% y/y in June after over 3% growth in previous months. Though subject to calendar effects and other one-off factors, the weaker result also underlines that Czech industry is not immune to the German industrial slowdown.

Stagnation in Russia: how many opportunities are there for international (investment) banks in the rest of the CIS region?

19 days ago

Who’s behind the proposed Turkish buyer of British Steel?

24 days ago

Russian sanctions fifth anniversary, but no reason to celebrate

1 month ago

COMMENT: Romania's inflation above 4% again

1 month ago

ING: Czech Republic: Surprising fall in industry

1 month ago

More Opinion

Data

Slovakia ́s industry in July rebounds to 2.8% following a drop in June

Slovakia ́s industrial production accelerated by 2.8% year-on-year in July, recovering from June ́s drop by 1.9%, the Slovak Statistics Office reported on September 10.

Romania’s 12-month CA deficit hits 4.9% of GDP at end-July

The current account deficit is one of the main threats to Romania’s macroeconomic sustainability with the other being the budget deficit.

Slovakia ́s inflation slowed m/m in August

Slovakia ́s inflation slowed in August, reaching 2.8% year-on-year, after a 2.9% growth in July, with core inflation amounting to 2.4% and net inflation to 1.6%, based on data reported by the Slovak Statistics Office on September 13.

The majority of Ukrainians think the country is going in the right direction for the first time in five years

The moody amongst the public since Ukrainian President Volodymyr Zelenskiy came to power has done an abrupt about face and deep pessimism has turned to growing optimism in the future of the country.

Polish CPI growth remains at 2.9% y/y in August

Inflation is now expected to hover at around 3% y/y until the end of the year before peaking at 3.7-3.8% y/y in the first quarter of 2020.

Slovakia ́s industry in July rebounds to 2.8% following a drop in June

23 hours ago

Romania’s 12-month CA deficit hits 4.9% of GDP at end-July

16 hours ago

Slovakia ́s inflation slowed m/m in August

23 hours ago

The majority of Ukrainians think the country is going in the right direction for the first time in five years

22 hours ago

Polish CPI growth remains at 2.9% y/y in August

2 days ago

More Data

Features

Turkmenistan is suffering an economic crisis of its own making

Turkmenistan is tremendously rich in natural resources, with around 10% of the world’s total gas reserves. Yet thanks to the bizarre behaviour of President Gurbanguly Berdimuhamedov the economy is on the verge of a crisis

Ozon battling it out for e-commerce supremacy

Russia’s old economy is stagnating, but the new one of e-commerce is growing in double digits and is still accelerating. All the conditions for e-commerce to take off are now in place, CEO of Ozon Alexander Shulgin tells bne IntelliNews.

Uzbekistan banking on international investors

As country opens up, tastiest of the low-hanging fruit is seen in the banking sector.

Ukraine’s new parliament sets itself a hectic legislative agenda

The new Ukrainian President Volodymyr Zelenskiy is in a hurry and he has set the new parliament a hectic and hugely ambitious legislative agenda for its first year in office.

KAZAKHSTAN, POST-NAZARBAYEV: Avalanche of news as Tokayev gives first state-of-the-nation address

New president pledges to support multi-party system and allow peaceful protests. Anti-China demo in oil mining town. Tenge set to weaken further. Political pressure on central bank for affordable credit. Nazarbayeva re-nominated as Senate speaker.

Turkmenistan is suffering an economic crisis of its own making

8 days ago

Ozon battling it out for e-commerce supremacy

10 days ago

Uzbekistan banking on international investors

14 days ago

Ukraine’s new parliament sets itself a hectic legislative agenda

13 days ago

KAZAKHSTAN, POST-NAZARBAYEV: Avalanche of news as Tokayev gives first state-of-the-nation address

13 days ago

More Features

Blogs

ISTANBUL BLOG: Erdogan goes for economic machismo and warns of “mischief makers” as rumours of a challenger are firmed up

Strongman may have to contend with new party formed by ex-economy czar Ali Babacan.

ISTANBUL BLOG: Turkish assets rally ahead of near bolted-on rate cut. Is Erdoganomics no joke after all?

Critics continue to pick apart the data underlying official GDP and inflation, but perhaps it’s time instead for them to prostrate themselves before a strongman’s brilliance they cannot understand.

Poland remembers World War Two: reconciliation and resentment

The war, which left Poland in ruins and with 6mn dead, continues to influence politics in the Twitter era — reinforcing reconciliation but also fuelling resentment.

BRICKS & MORTAR: Corporates turn to flexi workspaces in battle for talent

Flexible workplaces and co-working spaces, originally the domain of creatives and solo entrepreneurs, are increasingly attractive to larger companies in their quest to attract and retain talent.

TASHKENT BLOG: Wandering along the Silk Road

Uzbekistan has made huge strides under its new reform-minded leader. He’s pulling out all the stops. A “rabbit loans” scheme literally enabling poor people to buy bunnies for food and fur may have fizzled but for investors there's a hot scene.

ISTANBUL BLOG: Erdogan goes for economic machismo and warns of “mischief makers” as rumours of a challenger are firmed up

10 days ago

ISTANBUL BLOG: Turkish assets rally ahead of near bolted-on rate cut. Is Erdoganomics no joke after all?

12 days ago

Poland remembers World War Two: reconciliation and resentment

15 days ago

BRICKS & MORTAR: Corporates turn to flexi workspaces in battle for talent

17 days ago

TASHKENT BLOG: Wandering along the Silk Road

18 days ago

More Blogs

Latest Updates

News

Zelenskiy hopes to secure the withdrawal of Russian forces from the Donbas in the east of the country, where more than 13,000 Ukrainian servicemen have been killed in the conflict in the last five years.

Ministry says it is willing to pay a reported $216mn of compensation to Ukraine International Airlines that belongs to oligarch Ihor Kolomoisky for loses incurred because of a Russian overflight ban.

Speculation that South Korean tyre maker's decision to delay €268mn investment at its Hungarian plant is linked to shortage of workforce.

Largest Turkish mobile operator says shareholders Telia, Cukurova Holding and Russian tycoon Mikhail Fridman’s LetterOne have agreed to vote for profit distribution.

Ukraine’s parliament continued its legislative tsumani by passing laws that allow the president to be removed by impeachment, cut the number of Supreme Court judges by a third and toughen the punishments for corrupt officials .

Tech

Yandex has announced that it is getting into bed with the state’s second biggest bank VTB bank to create a fintech service to sell equities and funds to retail investors.

Investment will allow family owned DocProcess to expand in Romania and in the wider European market.

CEZ executive calls Zolar the "pioneer of an innovative, decentralised model for purchasing rooftop solar systems".

Pilot blockchain transaction during Russia’s Eastern Economic Forum is an early foray into a technology that is popular with Russians.

GetMyBoat, which describes itself as the world’s largest “Airbnb (or Uber) for boats” has seen a dramatic surge in business in Central, Eastern and especially Southeast Europe this summer.

Opinion

Russia is not a growing market for international banking and capital market business at present. That's why people like to look for business and deal opportunities in smaller regional markets in the CIS region.

GPW Political Risk on how the move by a military pension fund unit to acquire the unloved, neglected UK company may have been motivated by Turkish President Recep Tayyip Erdogan’s personal agenda—and he may require a political quid pro quo.

This summer mark the fifth anniversary of Western sanctions against Russia. But taking a quick look at Russian economic and financial sector indicators and you'd wonder if the sanctions are still in place.

At 4.1% y/y, Romania's July inflation will probably be the highest print for the year, ING analysts write.

Industrial output fell by 6.4% y/y in June after over 3% growth in previous months. Though subject to calendar effects and other one-off factors, the weaker result also underlines that Czech industry is not immune to the German industrial slowdown.

Data

Slovakia ́s industrial production accelerated by 2.8% year-on-year in July, recovering from June ́s drop by 1.9%, the Slovak Statistics Office reported on September 10.

The current account deficit is one of the main threats to Romania’s macroeconomic sustainability with the other being the budget deficit.

Slovakia ́s inflation slowed in August, reaching 2.8% year-on-year, after a 2.9% growth in July, with core inflation amounting to 2.4% and net inflation to 1.6%, based on data reported by the Slovak Statistics Office on September 13.

The moody amongst the public since Ukrainian President Volodymyr Zelenskiy came to power has done an abrupt about face and deep pessimism has turned to growing optimism in the future of the country.

Inflation is now expected to hover at around 3% y/y until the end of the year before peaking at 3.7-3.8% y/y in the first quarter of 2020.

Features

Turkmenistan is tremendously rich in natural resources, with around 10% of the world’s total gas reserves. Yet thanks to the bizarre behaviour of President Gurbanguly Berdimuhamedov the economy is on the verge of a crisis

Russia’s old economy is stagnating, but the new one of e-commerce is growing in double digits and is still accelerating. All the conditions for e-commerce to take off are now in place, CEO of Ozon Alexander Shulgin tells bne IntelliNews.

As country opens up, tastiest of the low-hanging fruit is seen in the banking sector.

The new Ukrainian President Volodymyr Zelenskiy is in a hurry and he has set the new parliament a hectic and hugely ambitious legislative agenda for its first year in office.

New president pledges to support multi-party system and allow peaceful protests. Anti-China demo in oil mining town. Tenge set to weaken further. Political pressure on central bank for affordable credit. Nazarbayeva re-nominated as Senate speaker.

Blogs

Strongman may have to contend with new party formed by ex-economy czar Ali Babacan.

Critics continue to pick apart the data underlying official GDP and inflation, but perhaps it’s time instead for them to prostrate themselves before a strongman’s brilliance they cannot understand.

The war, which left Poland in ruins and with 6mn dead, continues to influence politics in the Twitter era — reinforcing reconciliation but also fuelling resentment.

Flexible workplaces and co-working spaces, originally the domain of creatives and solo entrepreneurs, are increasingly attractive to larger companies in their quest to attract and retain talent.

Uzbekistan has made huge strides under its new reform-minded leader. He’s pulling out all the stops. A “rabbit loans” scheme literally enabling poor people to buy bunnies for food and fur may have fizzled but for investors there's a hot scene.

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Ukraine has a new president and parliament. A raft of reformist legislation has been passed in just the first two weeks and the he....

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