Kosovan PM given ultimatum to tackle tensions in north

Valentina Dimitrievska in Skopje June 7, 2023

US envoy Escobar says Pristina has two days to respond to US, EU demands or face consequences.

Romanian hydropower giant Hidroelectrica announces imminent IPO

Iulian Ernst in Bucharest June 7, 2023

Upcoming IPO to be the largest in the history of Romania's capital market.

Kyrgyzstan: Security services arrest alleged coup plotters from obscure party

Eurasianet June 7, 2023

President Japarov appears most nervous of alleged plots that mirror how he himself came to power.

Iran proclaims itself a hypersonic missile power

bne IntelIiNews June 6, 2023

Tehran claims the Fattah could hit Israel within 400 seconds but at the same time is a “message of security” to the people of the Middle East.

Ukraine calls for further sanctions against Russia as Kakhovka dam crisis worsens

Dominic Culverwell in Kyiv June 6, 2023

Ukraine has called the EU and G7 to implement a new round of sanctions against Russia following the destruction of the Kakhovka dam in occupied Kherson on June 6.

EU’s top court strikes at the heart of Polish government’s judicial reform

Wojciech Kosc in Warsaw June 6, 2023

CJEU rules PiS government’s judicial reform of 2019 constitutes a breach of the European Union legal order.

Bulgaria’s parliament endorses new government with rotating PM

Denitsa Koseva in Sofia June 6, 2023

Government backed by Gerb-SDS and Change Continues-Democratic Bulgaria appointed after two months of tense negotiations.

EC bans Ukrainian grain imports to Central Europe for another five months, Kyiv bans sugar exports in response

by Wojciech Kosc in Warsaw, Ben Aris in Berlin June 6, 2023

Five EU member states bordering Ukraine will be allowed to keep some of their restrictions on imports of Ukrainian agricultural produce in place until September 15, the European Commission decided on June 5.

Nova Kakhovka dam destroyed, unleashing a tidal wave of flood waters into southern Ukraine

Ben Aris in Berlin June 6, 2023

The massive Nova Kakhovka dam has been destroyed in the early hours of June 6, releasing a tidal wave of flood water that quickly swamped towns and villages downstream in southern Ukraine and triggered evacuation orders by local authorities.

US blocks assets of Russia-linked agents involved in conspiracy against Moldova

Iulian Ernst in Bucharest June 6, 2023

US sanctions leading members of Russian intelligence-linked “malign influence group” suspected of trying to destabilise Moldova.

Russia’s economy in danger of overheating as war shocks wear off

Ben Aris in Berlin June 6, 2023

The Central Bank of Russia is worried that the Russian economy is overheating due to high levels of investment and rising consumption in a very tight labour market, the bank said in its monthly update.

Russia says Ukrainian assault has been prevented in Donetsk Oblast, but Kyiv dismisses claim as Ukraine makes advances in Donbas

Dominic Culverwell in Poltava June 5, 2023

Russia claims to have blunted a Ukrainian assault in Donetsk Oblast, but Kyiv says Moscow is sowing disinformation as Ukraine makes advances in Donbas, Reuters reported on June 5.

German Chancellor Scholz roasts pro-Russian hecklers in an uncharacteristically fiery speech

bne IntelliNews June 5, 2023

German Chancellor Olaf Scholz shocked observers after he put down hecklers at a speech in Berlin, delivering a fiery speech that condemned Russian President Vladimir Putin as a “warmonger” and a “murderer” on June 3.

Prime Minister Orban flies to Ankara for Erdogan’s swearing-in ceremony

bne IntelliNews June 4, 2023

Prime Minister Viktor Orban attended the inauguration ceremony of Turkish President Recep Tayyip Erdogan on June 3, the only representative of an EU member country to do so. No information was released on the informal talks between the two leaders.

Anti-government march gathers 500,000 in Warsaw

bne IntelliNews June 4, 2023

The march followed intense weeks in Polish politics, marked by the Law and Justice (PiS) government’s missteps, which echoed at home and abroad, and likely fuelled the turnout at the rally, the biggest in Poland’s history since communism.

‘Orthodox’ Simsek gets finance post in Erdogan’s new cabinet

Akin Nazli in Belgrade June 4, 2023

How much market orthodoxy Turkish strongman can swallow is now the question.

Turkey deploys commandos in Kosovo after violent protests

Valentina Dimitrievska in Skopje June 4, 2023

The commando battalion deployed to address mounting tensions in the region.

Istanbul-listed Garanti BBVA renews syndicated loan at 73% rollover rate

Akin Nazli in Belgrade June 4, 2023

Benchmarks are painfully high as SOFR remains above the 5%-level, compared to the 0.05% seen in October 2021, while 12-month Euribor is testing the 4%-level, compared to the minus 0.5% recorded in October 2021.

Hungary’s windfall tax and rising energy costs push foreign retailers into the red in 2022

Tamas Csonka in Budapest June 2, 2023

The sector is bracing for more losses in 2023, according to the retail association OKSZ.

Hungary pushes banks and investment funds to hold more government bonds

bne IntelIiNews June 2, 2023

The government slapped a 13% tax on savings and set minimum levels for investment funds' holdings of government bonds. Banks can also cut windfall tax if they increase purchases of local government bonds.