News
Russia, Belarus reportedly ink 'economic confederacy’ roadmap
Russia and its neighbouring post-Soviet republic Belarus have inked a roadmap with the aim to form "an economic confederacy" by 2022, the Kommersant business daily reported on September 16.
Azerbaijan launches massive military drill
Azerbaijan’s armed forces launched massive operational and tactical exercises involving up to 10,000 personnel on September 16, in show of strength related to its long running dispute with Armenia over the disputed Nagorno Karabakh region
Study shows Slovaks trust carmakers and banks more than politicians and government
Slovaks see carmakers as more trustworthy than politicians, according to a new survey conducted by IMAS International for Erste Group, the Slovak News Agency (SNA) reported on September 16.
EU moves forward with Article 7 procedure against Hungary
Hungary’s incoming Justice Minister Judit Varga was grilled at the first hearing by EU affairs ministers, as Budapest tries to play down criticism over the rule of law and frame procedure as an attack on its anti-migration policies.
Trump stops short of pinning definitive blame on Iran for Saudi oil attacks
Critics may see his cautious approach as evidence of a vulnerability: an aversion to getting dragged into an unpopular Middle East war in the run-up to the 2020 US election.
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.
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.
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.
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.
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 .
“Renewed collapse in lira” just a matter of time says Commerzbank ahead of Turkish rates meeting
“Overly loose monetary policy risks exacerbating Turkey’s age-old vulnerabilities by fueling twin dynamics of inflation and attendant currency weakness,” adds Societe Generale strategist.
Turkey’s banking association expects $10bn of electric utility loan restructuring this year
Energy companies left up to their necks in debt by lira crisis.
Former Erdogan ally ‘to challenge Turkish president’s ruling AKP with new party’
Ex-economic czar Ali Babacan says the condition in which Turkey is currently in is “truly saddening”. Takes aim at state of economy, human rights and rule of law.
France calls for reset in relations with Russia
It’s official: France is actively working for a reset in relations with Russia. “The time has come, the time is right, to work towards reducing the distrust between Russia and Europe," Jean-Yves Le Drian, the French foreign minister says
Ukraine central bank urges law enforcers to protect former governor
The board of National Bank of Ukraine (NBU) has urged the nation's law enforcement agencies to protect the life and health of its former governor Valeria Gontareva, current leadership, and staff.
Istanbul, Ankara mayors not at risk of being replaced says interior minister
Fears of a move rose after three Kurdish mayors were kicked out of office. Istanbullers, meanwhile, invited by opposition administration to see exhibit of hundreds of ‘AKP’ official cars as example of squandering of public money by predecessors.
Turkish Airlines receives approval to issue eurobonds worth up to $2bn
Reports suggest, meanwhile, private lenders in Turkey “pushing hard” for tighter margins in autumn term syndicated loan renewal season.