News

NEO: Bonum continues investment spree with Russian coking coal

NEO December 22, 2021

As green approaches to metallurgy come under the spotlight, investment fund Bonum Capital buys 16% of Koks, Russia’s largest producer of merchant coke and among the world’s cleanest coking coal plants.

Usmanov expects “green technologies” to transform European industry

Theo Normanton in Moscow December 21, 2021

Russian billionaire Alisher Usmanov, whose fund owns 49% of steelmaker Metalloinvest, spoke about the likely significant impact of “green technologies” on Europe's metals industry.

Moscow has launched its 900th electric bus in time for the holidays

bne IntelliNews December 21, 2021

The 900th electric bus hits the streets of Moscow as the holiday season starts, suitably decked with festive lights.

Russian retail consolidation continues as Lenta buys e-grocer Utkonos

bne IntelliNews December 17, 2021

One of Russia's mid-cap food retailers, Lenta, has announced its intentions to acquire the Utkonos e-grocery service for RUB20bn ($270mn) to expand its online market share and acquire unique competences and loyal customer base.

Serbia suspends plans for Rio Tinto’s lithium mine

Eldar Dizdarevic in Sarajevo December 17, 2021

Plans to build huge mine that would have turned Serbia into Europe's top lithium producer on hold after mass protests.

Erdogan follows latest ‘unbelievable’ rate cut with 50% boost to Turkey’s minimum wage

bne IntelIiNews December 17, 2021

Analysts warn that amid lira crisis move to hike Turks’ earnings could add to rampant inflation. Market fears hyperinflation will take hold.

Romanian chemicals group Chimcomplex mulls taking over Rompetrol

Iulian Ernst in Bucharest December 16, 2021

Chemical holding outlines development plans including ambitions to take over Romania's biggest refinery Petromidia, owned by Rompetrol.

NEO: Avito becomes world’s most visited classified site

NEO December 16, 2021

Russia’s Avito topped Similarweb’s list of most visited classified advertisement sites for November 2021, in a sign that emerging markets are taking the lead in this fast-growing sector.

Navalny wins Sakharov prize, but European Parliament spells his name wrong

bne IntelliNews December 16, 2021

The European Parliament awarded jailed opposition figure Alexey Navalny with the prestigious Sakharov Prize for Freedom on December 15, but spelled both his name and the word “corruption” incorrectly on the certificate.

Romania to postpone euro adoption target until 2029

Iulian Ernst in Bucharest December 16, 2021

Romania has repeatedly put back its target for euro adoption, missing a window of opportunity in 2015-17 when it met all the nominal convergence criteria set by the Maastricht Treaty.

Academic close to Erdogan says Turkey should prepare for state of emergency due to economic crisis

bne IntelIiNews December 16, 2021

Professor walks back comments but fears circulate that move could be made to prepare for a sudden and unjust snap election.

Top EU court says Bulgaria must issue ID to baby girl with two mothers

Denitsa Koseva in Sofia December 15, 2021

Bulgaria does not recognise same-sex marriage and refused to name both as mothers in a national birth certificate.

Putin, Xi vow “renewed friendship” at virtual summit a week after Putin’s summit with Biden

bne IntelliNews December 15, 2021

Russian President Vladimir Putin and his Chinese counterpart, President Xi Jinping, held a virtual summit on December 15 in a show of solidarity against what they called “US aggression.”

Lithuanian premier rejects ministers' resignations over Belarus sanctions-busting scandal

Linas Jegelevicius in Vilnius December 15, 2021

Head of state-owned railways will instead step down over contract that allows Belaruskali potash to continue being carried to Port of Klapeida.

Belarusian court sentences Tikhanovskaya’s husband and other leading opposition figures to 15-18 years in jail

bne IntelliNews December 15, 2021

A Belarusian court sentenced Sergey Tikhanovsky to 18 years in jail along with several other top opposition figures, journalists and bloggers on December 14 as the Lukashenko regime continued its brutal repression of its enemies.

Owner of Russia's largest car dealer Rolf forced to sell

bne IntelliNews December 15, 2021

Russia's largest car dealer Rolf of Sergei Petrov has been sold to rival KlyuchAvto for an undisclosed amount.

Hungary’s central bank announces package of tightening measures

bne IntelliNews December 14, 2021

MNB raises rates by another 30 bps, widens interest rate corridor and phases out QE and bond purchase schemes.

President Zeman agrees to all new Czech government ministerial appointments

bne IntelliNews December 14, 2021

President climbdown on vetoing foreign minister gifts Prime Minister Petr Fiala first victory in what is likely to be a long tug of war.

Crisis-hit Turkish lira takes high-volatility rollercoaster ride featuring new all-time low

bne IntelIiNews December 14, 2021

Day saw a stomach-churning descent of 7%.

Bulgaria’s parliament endorses government led by Kiril Petkov

Denitsa Koseva in Sofia December 13, 2021

Appointment puts an end to the deep political crisis in the country that has held three general elections since April.

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