Latest Updates

THE VIEW FROM MITTELEUROPA: Surviving on life support – Belarus, sanctions and path-dependency

The Ryanair incident on 23 May was as much a bellwether for the status quo in Belarus as it is a geopolitical catalyst.

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LONG READ: Russia’s sanctions soft underbelly: precision machine tools

Russia imports almost 100% of its high precisions machine tools as the collapse of the Soviet Union destroyed it’s once legendary machine building sector. Since then there have been several technological leaps forward but Russia is still behind

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Poland's PKN Orlen bulks up to play in the big league

As part of the company’s PLN140bn investment drive by 2030, Orlen plans getting into offshore and onshore wind, solar energy, as well as energy storage.

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COMMENT: Time to end Putin's impunity

The price faced by Russia for aggression must be too high for the Kremlin to countenance, and this is the message that Biden should deliver to Putin – and act upon.

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COMMENT: CEE national recovery and resilience plans – the focus, the gaps and what comes next

Most CEE governments submitted their national plans after the deadline and two (Bulgaria and Estonia) are yet to finalise them.

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bneGREEN: IEA calls for $1 trillion of annual investment into clean energy in developing economies

Private finance is crucial if emerging economies are not to be left behind in the race to net zero, the IEA warns.

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CENTRAL ASIA BLOG: Mongolia’s presidency, a new chapter

Country has option of replacing one strongman for another, voting in the nominee of a splintered party or choosing an entrepreneur said to have delivered the internet to Mongolians.

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No football frenzy in Emerging Europe's Euro 2020 host cities

Host cites to raise their profiles just as international travel starts to revive, but little hope of the usual tourism and consumer spending bonanza.

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Biden agrees to meet Zelenskiy, but after the Putin summit

US President Joe Biden has invited Ukrainian President Volodymyr Zelenskiy to meet at the White House in July, during a phone conversation between the two presidents on June 7.

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Hungary’s most powerful oligarch says he is just a lightning rod for attacks on Orban

US sanctions on Russia’s OFZ local debt come into force

Lukashenko pushing illegal Iraqi refugees over the border into Lithuania

Hungary’s most powerful oligarch says he is just a lightning rod for attacks on Orban

Hungary’s opposition is putting Meszaros at the centre of its campaign in what promises to be the closest elections since 2002.

US sanctions on Russia’s OFZ local debt come into force

The US sanctions imposed on April 15 that bar US investors from buying Russian Ministry of Finance ruble-denominated OFZ treasury bills in primary auctions come into force on June 14.

Lukashenko pushing illegal Iraqi refugees over the border into Lithuania

Belarus' President Alexander Lukashenko is transporting Iraqi immigrants to Minsk and helping them illegally cross the border into Lithuania, as he makes good on a threat to “flood the EU with drugs and refugees.”

News

Moscow back on lockdown as coronavirus infection rate surges again

Moscow Mayor Sergey Sobyanin put the Russian capital back into lockdown after an alarming surge in the coronavirus infection rate, which has seen some hospitals back at full capacity.

Belarus is the “North Korea” of Europe, says US diplomat

The barred US ambassador to Belarus, Julie Fisher, called Belarus the “North Korea of Europe” in testimony before a US Senate Foreign Relations Committee hearing.

European commissioner confirms €30bn EU investment plan for Western Balkans

Plan will only be effective if region works together Oliver Varhelyi tells summit marred by verbal clash between prime ministers of Serbia and Kosovo.

Merger between Moneta Money Bank and Air Bank in trouble after proxy firms come out against

Proxy voting firms Glass Lewis and Institutional Shareholder Services have recommended Moneta Money Bank shareholders vote against the acquisition of PPF´s Air Bank, Czech and Slovak Home Credit and Benxy.

MPP's Khurelsukh wins landslide victory in Mongolia’s presidential election

Party now commands presidency as well as supermajority in parliament.

Moscow back on lockdown as coronavirus infection rate surges again

22 hours ago

Belarus is the “North Korea” of Europe, says US diplomat

3 days ago

European commissioner confirms €30bn EU investment plan for Western Balkans

3 days ago

Merger between Moneta Money Bank and Air Bank in trouble after proxy firms come out against

3 days ago

MPP's Khurelsukh wins landslide victory in Mongolia’s presidential election

4 days ago

More News

Tech

Romanian entrepreneurs to develop region's first hyperscale data centre

€36mn data centre to be built in southern Romania near Craiova.

Croatia’s Gideon Brothers raises $31mn for AI and 3D vision-based autonomous mobile robots

Gideon to use the funds to accelerate the development and commercialisation of its robots and expand manufacturing, sales and marketing operations.

Turkey’s Getir online rapid groceries business raises $555mn in new funding round

Company given valuation of more than $7.5bn. Berlin and Paris expansions expected this month.

Albanian fintech Rubicon raises pre-seed funding round

Startup Rubicon plans to launch payment services in under-banked Albanian market.

Online fashion retailer Zalando launches platforms in Slovenia, Slovakia and Lithuania

Berlin-based retailer starts CEE expansion drive with plans to enter eight new markets by end-2022.

Romanian entrepreneurs to develop region's first hyperscale data centre

3 days ago

Croatia’s Gideon Brothers raises $31mn for AI and 3D vision-based autonomous mobile robots

6 days ago

Turkey’s Getir online rapid groceries business raises $555mn in new funding round

8 days ago

Albanian fintech Rubicon raises pre-seed funding round

11 days ago

Online fashion retailer Zalando launches platforms in Slovenia, Slovakia and Lithuania

12 days ago

More Tech

Opinion

MOSCOW BLOG: Primary rehearsal

The governing United Russia Party held its “primaries” in the last week of May. The votes were tallied and a party congress will, on June 19, approve a list of candidates for the September Duma elections.

ING: Hungary seems all set for a record year in 2021

The Statistical Office has revised up the first-quarter GDP growth for Hungary to 2.0% quarter on quarter. The strong start and details suggest we are likely to see the economy growing by around 7.4% this year.

RIMMER: Peker has him in his pocket

Mafia boss Sedat Peker’s deliberately provocative YouTube vlogs implicating staunch Erdogan allies have gripped the Turkish public. There’s a paradigm shift afoot in Turkey’s politics and at long last we have The Tinpot Tyrant Takedown.

COMMENT: More speed, less haste – finding the right balance in preparation for Uzbekistan’s SOE privatisation

On May 20021, State Asset Management Agency (UzSAMA) and the World Bank arranged a high-level international forum held in Hyatt Regency Tashkent to lay out the roadmap for Uzbekistan’s privatisation of some its most valuable companies.

STOLYPIN: The challenges of targeting Minsk and doing more harm than good

Will the West end up saving Alexander Lukashenko by its eagerness to target Vladimir Putin? Will it force a Belarus-Russian Anschluss that no one – not Europe, not Moscow, not Minsk – really wants?

MOSCOW BLOG: Primary rehearsal

7 days ago

ING: Hungary seems all set for a record year in 2021

8 days ago

RIMMER: Peker has him in his pocket

11 days ago

COMMENT: More speed, less haste – finding the right balance in preparation for Uzbekistan’s SOE privatisation

12 days ago

STOLYPIN: The challenges of targeting Minsk and doing more harm than good

14 days ago

More Opinion

Data

Once buoyant Romanian wages show signs of fatigue

Romania’s average net wages posted an impressive 11.9% annual advance to RON3,561 in April – but the outstanding performance is largely due to low base effects.

Russia's CBR ups rate by 50bp to 5.5%, will keep hiking

The board of the Central Bank of Russia (CBR) at the policy meeting of June 11 resolved to increase the key interest rate by 50 basis points (bp) to 5.5%, in line with expectations.

Moldova’s headline inflation rises to 3.1% y/y and is going up

The headline inflation is already above the refinancing rate, maintained by the central bank a couple of days earlier at 2.65%.

Serbian central bank keeps key policy rate unchanged

The NBS said its monetary policy priority will be to ensure price and financial stability, while supporting faster growth of the Serbian economy, employment and exports.

Public banks’ share in Turkey’s domestic bonds at record high

State banks’ loan volume, meanwhile, reached 48% of Turkey's total banking industry loans at end-April.

Once buoyant Romanian wages show signs of fatigue

15 hours ago

Russia's CBR ups rate by 50bp to 5.5%, will keep hiking

3 days ago

Moldova’s headline inflation rises to 3.1% y/y and is going up

3 days ago

Serbian central bank keeps key policy rate unchanged

3 days ago

Public banks’ share in Turkey’s domestic bonds at record high

4 days ago

More Data

Features

Why Iranians won’t vote: new survey reveals massive political disenchantment

Findings from the Netherlands-based Group for Analyzing and Measuring Attitudes in Iran (GAMAAN) ahead of the Islamic Republic’s June 18 presidential election.

Double landlocked Uzbekistan and Pakistan trial cargo route via Afghanistan

Pilot journey inches forward plans to integrate economies of Central and South Asia. Whether the Taliban will stand in the way of the cargo route is still unclear.

Armenia and Azerbaijan suspend “corridor” talks

Yerevan said there was no point in discussing new transportation routes with Azerbaijan while there was so much tension along their border. Baku’s response was curiously muted.

bneGREEN: Coal bandits

The IEA has said that the road to net zero by 2050 is “narrow but still achievable,” so long as there is no more investment in new coal projects, in order to limit global warming to 1.5C.

bneGreen: North Macedonia heads towards green energy transition

North Macedonia's national energy strategy foresees a 66% reduction of greenhouse gas emissions from the energy sector by 2030.

Why Iranians won’t vote: new survey reveals massive political disenchantment

2 days ago

Double landlocked Uzbekistan and Pakistan trial cargo route via Afghanistan

6 days ago

Armenia and Azerbaijan suspend “corridor” talks

6 days ago

bneGREEN: Coal bandits

10 days ago

bneGreen: North Macedonia heads towards green energy transition

11 days ago

More Features

Blogs

Turkmenistan: The loneliness of the long-distance cyclist

The dauphin does not cut an impressive figure, so his dad props him up on a horse. This and more in Eurasianet’s weekly Turkmenistan briefing.

BRICKS & MORTAR: Romania emerges as third biggest industrial/logistics destination in CEE region

The modern stock of industrial spaces in Romania exceeded the 5mn sqm threshold in 2020 and will reach approximately 5.5mn sqm this year.

TEHRAN BLOG: Second presidential debate leaves country doubting itself

Most potential voters left scratching their heads.

TEHRAN BLOG: The outsider, Abdolnaser Hemmati

Little-known moderate grabs attention when his wife appears in state TV interview not wearing the expected chador. Might he spring a surprise in the presidential election?

BRICKS & MORTAR: Bucharest office market overflowing with new deliveries

JLL finds the office space pipeline for 2021 totals almost 256,000 sqm, a 65% y/y increase.

Turkmenistan: The loneliness of the long-distance cyclist

3 days ago

BRICKS & MORTAR: Romania emerges as third biggest industrial/logistics destination in CEE region

4 days ago

TEHRAN BLOG: Second presidential debate leaves country doubting itself

5 days ago

TEHRAN BLOG: The outsider, Abdolnaser Hemmati

9 days ago

BRICKS & MORTAR: Bucharest office market overflowing with new deliveries

10 days ago

More Blogs

bneGREEN

ING: So what is a greenium and how do we get to it?

The existence of a "greenium" is mostly justified by higher demand for green bonds. We estimate the greenium for each curve separately, ensuring it is not polluted by other factors such as sector or maturity.

Russian internet major Yandex outlines ESG goals

Among Yandex's ESG priorities are reducing its carbon footprint, mainly from data centres and fuel use.

Central bank says 50% of Romanian bank loans bear climate change risk

Central bank official warns over banks' climate risk, saying 25.4% of non-government credits finance polluting businesses.

More than half of North Macedonia’s banks start providing green loans

Most commercial banks in North Macedonia aim to increase the share of green loans in their portfolios, central bank survey finds.

ING: The corporate premium in green finance

There is a cost saving to issuing Green. It varies according to circumstances, but the baseline assumption now is for green yields to be below vanilla ones; not by much, but it's persistent enough.

ING: So what is a greenium and how do we get to it?

3 days ago

Russian internet major Yandex outlines ESG goals

3 days ago

Central bank says 50% of Romanian bank loans bear climate change risk

4 days ago

More than half of North Macedonia’s banks start providing green loans

5 days ago

ING: The corporate premium in green finance

5 days ago

More bneGREEN

Latest Updates

News

Moscow Mayor Sergey Sobyanin put the Russian capital back into lockdown after an alarming surge in the coronavirus infection rate, which has seen some hospitals back at full capacity.

The barred US ambassador to Belarus, Julie Fisher, called Belarus the “North Korea of Europe” in testimony before a US Senate Foreign Relations Committee hearing.

Plan will only be effective if region works together Oliver Varhelyi tells summit marred by verbal clash between prime ministers of Serbia and Kosovo.

Proxy voting firms Glass Lewis and Institutional Shareholder Services have recommended Moneta Money Bank shareholders vote against the acquisition of PPF´s Air Bank, Czech and Slovak Home Credit and Benxy.

Party now commands presidency as well as supermajority in parliament.

Tech

€36mn data centre to be built in southern Romania near Craiova.

Gideon to use the funds to accelerate the development and commercialisation of its robots and expand manufacturing, sales and marketing operations.

Company given valuation of more than $7.5bn. Berlin and Paris expansions expected this month.

Startup Rubicon plans to launch payment services in under-banked Albanian market.

Berlin-based retailer starts CEE expansion drive with plans to enter eight new markets by end-2022.

Opinion

The governing United Russia Party held its “primaries” in the last week of May. The votes were tallied and a party congress will, on June 19, approve a list of candidates for the September Duma elections.

The Statistical Office has revised up the first-quarter GDP growth for Hungary to 2.0% quarter on quarter. The strong start and details suggest we are likely to see the economy growing by around 7.4% this year.

Mafia boss Sedat Peker’s deliberately provocative YouTube vlogs implicating staunch Erdogan allies have gripped the Turkish public. There’s a paradigm shift afoot in Turkey’s politics and at long last we have The Tinpot Tyrant Takedown.

On May 20021, State Asset Management Agency (UzSAMA) and the World Bank arranged a high-level international forum held in Hyatt Regency Tashkent to lay out the roadmap for Uzbekistan’s privatisation of some its most valuable companies.

Will the West end up saving Alexander Lukashenko by its eagerness to target Vladimir Putin? Will it force a Belarus-Russian Anschluss that no one – not Europe, not Moscow, not Minsk – really wants?

Data

Romania’s average net wages posted an impressive 11.9% annual advance to RON3,561 in April – but the outstanding performance is largely due to low base effects.

The board of the Central Bank of Russia (CBR) at the policy meeting of June 11 resolved to increase the key interest rate by 50 basis points (bp) to 5.5%, in line with expectations.

The headline inflation is already above the refinancing rate, maintained by the central bank a couple of days earlier at 2.65%.

The NBS said its monetary policy priority will be to ensure price and financial stability, while supporting faster growth of the Serbian economy, employment and exports.

State banks’ loan volume, meanwhile, reached 48% of Turkey's total banking industry loans at end-April.

Features

Findings from the Netherlands-based Group for Analyzing and Measuring Attitudes in Iran (GAMAAN) ahead of the Islamic Republic’s June 18 presidential election.

Pilot journey inches forward plans to integrate economies of Central and South Asia. Whether the Taliban will stand in the way of the cargo route is still unclear.

Yerevan said there was no point in discussing new transportation routes with Azerbaijan while there was so much tension along their border. Baku’s response was curiously muted.

The IEA has said that the road to net zero by 2050 is “narrow but still achievable,” so long as there is no more investment in new coal projects, in order to limit global warming to 1.5C.

North Macedonia's national energy strategy foresees a 66% reduction of greenhouse gas emissions from the energy sector by 2030.

Blogs

The dauphin does not cut an impressive figure, so his dad props him up on a horse. This and more in Eurasianet’s weekly Turkmenistan briefing.

The modern stock of industrial spaces in Romania exceeded the 5mn sqm threshold in 2020 and will reach approximately 5.5mn sqm this year.

Most potential voters left scratching their heads.

Little-known moderate grabs attention when his wife appears in state TV interview not wearing the expected chador. Might he spring a surprise in the presidential election?

JLL finds the office space pipeline for 2021 totals almost 256,000 sqm, a 65% y/y increase.

bneGREEN

The existence of a "greenium" is mostly justified by higher demand for green bonds. We estimate the greenium for each curve separately, ensuring it is not polluted by other factors such as sector or maturity.

Among Yandex's ESG priorities are reducing its carbon footprint, mainly from data centres and fuel use.

Central bank official warns over banks' climate risk, saying 25.4% of non-government credits finance polluting businesses.

Most commercial banks in North Macedonia aim to increase the share of green loans in their portfolios, central bank survey finds.

There is a cost saving to issuing Green. It varies according to circumstances, but the baseline assumption now is for green yields to be below vanilla ones; not by much, but it's persistent enough.

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On May 23 Belarus scrambled a MiG-29 fighter to force down a Ryanair passenger plane flying over its territory and arrested a pass....

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