Major energy, tech and agro deals signed at Russian SPIEF 2019

bne IntelliNews June 9, 2019

Russia and China account for almost half of the 650 deals worth RUB3.1 trillion announced at SPIEF

Albanian president cancels local elections as protests rage in Tirana

bne IntelliNews June 9, 2019

After months of increasingly violent protests, Ilir Meta warns of “unpredictable escalation of conflict” and says conditions don’t exist for “true, democratic, representative” elections — but Prime Minister Edi Rama says the vote will go ahead.

US hands Turkey Russian missiles ultimatum

bne IntelliNews June 8, 2019

Crucially, however, its deadline falls one week after the Istanbul revote seen as another referendum on Erdogan and test of what remains of Turkish democracy.

The US has been isolated by Russia and China, says Russian President Putin at SPIEF

Ben Aris in Berlin June 7, 2019

“The US is isolated by Russia and China.” The leaders of both countries are actively building a new economic alliances with the other emerging markets — but the OPEC+ deal is in danger.

President Volodymyr Zelenskiy on course to repeat his landslide victory in Ukraine’s parliamentary election

bne IntelliNews June 6, 2019

Five political parties could clear the 5% threshold and enter Ukraine’s parliament, the Verkhovna Rada, in the July 21 general election, according to the Rating agency.

Kyiv mayor Klitschko urges ex-Georgian president Saakashvili to lead his party in July elections

bne IntelliNews June 6, 2019

Vitali Klitchko has invited former Georgian president and ex-Odesa governor Mikheil Saakashvili to head his UDAR party ahead of snap parliamentary elections slated for July.

Pro-EU parties in Moldova close to forming “anti-oligarch” alliance with Socialists

bne IntelliNews June 6, 2019

Parties ready to cross the geo-political divide to form new ruling coalition that would remove Vlad Plahotnuic’s Democratic Party from power and “stop a dictator from taking possession of the country”.

Turkey set for 1% contraction in 2019 GDP: World Bank

Will Conroy in Prague June 5, 2019

Knocking 2.6pp off its previous forecast, institution says higher inflation, pressure on real incomes, sharp banking and corporate sector deleveraging and low business and consumer confidence are taking a big toll.

Political uncertainty over Ukrainian President Zelenskiy’s authority to dissolve parliament hurts the bond market, endangers debt repayments

Ben Aris in Berlin June 5, 2019

Ukrainian MPs have challenged Zelenskiy’s decision to dissolve parliament early in the Constitutional Court, which has increased uncertainty and unsettled investors into Ukraine’s bonds.

Ukrainian President Volodymyr Zelenskiy in Brussels to affirm European direction and desire to join Nato

bne IntelliNews June 5, 2019

Zelenskiy chose Brussels as the destination for his first trip as head of state and reaffirmed Ukraine’s commitment to Europe, its desire to join Nato and his determination to end the de facto war with Russia.

Deadly air pollution cuts life expectancy in Western Balkans

Clare Nuttall in Glasgow June 5, 2019

Average citizen loses 1.3 years as a result of air pollution, finds UN Environment study, but governments are still pressing ahead with plans to build new coal-fired power stations.

Fees charged to Istanbul Airport operator 'hugely cut and postponed'

bne IntelliNews June 4, 2019

Financial pressures faced by consortium behind Turkey’s flagship infrastructure project eased. Critics, meanwhile, continue to ask why mega airport was built in the first place.

BCS Global Markets was voted the best Russia-focused independent investment house in the Extel Survey

bne IntelliNews June 4, 2019

The up and coming dealer/broker is relatively new to the Russian investment banking scene, but has expanded rapidly in the last few years.

Czech PM Andrej Babis might face trial over conflict of interest, 100,000 protest in Prague

Nelly Tomcikova in Prague June 4, 2019

Billionaire populist Babis is accused of using his political office to channel EU funds into one of his own companies. The scandal has sparked the biggest protests since the 1989 revolution.

King of the castle: Gazprom overtakes Sberbank to become Russia’s most valuable company

bne IntelliNews June 4, 2019

The shares in state-owned gas giant Gazprom jumped again, rising by 10% in a day to make it Russia’s most valuable company worth $82bn as rumours of the imminent departure of CEO Alexi Miller swirled in Moscow.

Most Czechs still don't want to adopt the euro

bne IntelliNews June 4, 2019

Three-quarters of Czechs are against the adoption of the euro, according to the recent research published by the Czech Public Opinion Research Centre (CVVM) on May 31.

Romania's budget deficit exceeds worst expectations

Iulian Ernst in Bucharest June 4, 2019

PM Viorica Dancila sacks the head of the tax collection agency and appoints a high-profile insolvency lawyer as her economic advisor as budget deficit nearly doubles y/y in January-April.

Georgia denies issuing permit for Poti deep-water port project

Iulian Ernst in Bucharest June 2, 2019

Economy minister speaks out after investors warn such a move might cause shelving of flagship Anaklia investment. Plot thickens as observers assess whether Russia and China are influencing developments.

The Central Bank of Russia is worried about a potential housing bubble

bne IntelliNews June 2, 2019

The CBR will act to cool the mortgage market, but market participants think the regulator is being overly cautious.

Bulgaria buys first US gas as it breaks away from dependence on Russia

bne IntelliNews June 2, 2019

LNG deliveries from the US should cover around 10% of Bulgaria's consumption. Sofia also started construction of the Greece-Bulgaria gas interconnector in May.