Ukraine chief prosecutor Lutsenko resigns

bne IntelliNews August 29, 2019

Ukrainian Prosecutor General Yuriy Lutsenko signed a letter of resignation on August 29, as the nation's newly elected parliament, the Verkhovna Rada, meets for its first day of work.

Ukraine president asks parliament to appoint political novice Honcharuk for PM

bne IntelliNews August 29, 2019

Ukrainian President Volodymyr Zelenskiy has proposed 35-year-old lawyer and his close personal friend Oleksiy Honcharuk for the post of Prime Minister.

US State Department clears $500mn missile deal with Hungary

bne IntelliNews August 29, 2019

The deal would be would be the largest arms procurement since Hungary began its army modernisaton programme in 2017. PM Viktor Orban's government has accelerated efforts to overhaul its ageing weaponry.

Istanbul’s new opposition mayor scraps transfer of 350mn lira to pro-Erdogan foundations

bne IntelliNews August 28, 2019

“It’s incredible. On what are you spending the people’s money?” says Ekrem Imamoglu.

UniCredit ‘in talks to pave way for sale of stake in Turkey’s Yapi Kredi Bank’

Akin Nazli in Belgrade August 28, 2019

Italian group bought shares with Koc Holding for €2.5bn, but market value has tumbled. Shareholding hit by Turkish lira crisis and recession.

Belarus’ leading supermarket chain Eurotorg closes a $52.7mn syndicated loan facility agreement

Ben Aris in Moscow August 28, 2019

Eurotorg has set up as a modern organised retail supermarket chain to capitalise on the growth of the retail business in Belarus, which is seeing the emergence of a middle class that is driving retail development.

Turkmen police ‘detaining people standing in ATM queues amid cash shortages’

bne IntelliNews August 28, 2019

Move reported after autocrat Berdimuhamedov criticised cash machine lines. Citizens of country facing economic crisis often even have to spend night hours queuing up to access money.

Romania’s opposition not ready to find replacement for PM Dancila

Iulian Ernst in Bucharest August 28, 2019

Viorica Dancila might survive the collapse of the ruling coalition, as opposition parties are more concerned about positioning ahead of the general elections next year than forming a new ruling coalition.

Polish government tables no-deficit budget for 2020

Wojciech Kosc in Warsaw August 28, 2019

First budget in three decades without a deficit drafted for next year — but critics say it will be amended after this autumn's general election.

Hungarian rate-setters keep policy unchanged and note downside inflation risks

Levente Szilagyi in Budapest August 28, 2019

The central bank affirmed its accommodative monetary stance, adding that downside risks to inflation strengthened amid the worsening external economic environment and decelerating domestic inflation.

Albania renews tender for construction of Vlora airport after talks with Turkish tie-up fail

bne IntelliNews August 27, 2019

Tirana invites bids for feasibility study for new airport on Albania's Adriatic coast as it prepares to find a new construction company to take on the project.

Rouhani backpedals on idea of Iran nuclear deal meeting with Trump

bne IntelliNews August 27, 2019

Implies that US president is interested in a photo opportunity, but that Tehran is not. Quips that White House can use Photoshop.

Romania’s ruling party loses majority and faces no-confidence vote

bne IntelliNews August 27, 2019

PM Viorica Dancila looks likely to lose her position in an imminent no-confidence vote, but there is not yet a new parliamentary majority to take over.

G7 BREAKTHROUGH? Iran’s Rouhani encourages idea of nuclear deal meeting with Trump

bne IntelliNews August 26, 2019

US president hints he might support oil-backed letter of credit to get Iranians “over very rough patch” caused by American sanctions. Says his “gut” tells him his counterpart will want to meet “to get this situation straightened out”.

Turkey’s Sabanci to sell its 57.9% stake in Yunsa textiles producer

Akin Nazli in Belgrade August 26, 2019

Move follows conglomerate’s recent disposal of 41% in construction equipment leasing services company Temsa Is Makinalari and May sale of buses and light trucks maker Temsa.

Russia's VTB bank asks Kremlin to control lucrative grain exports

bne IntelliNews August 26, 2019

VTB has been hoovering up assets in the grain export sector and now controls about a fifth of the business.

Fitch sees Bulgaria as next eurozone entrant

bne IntelliNews August 26, 2019

Bulgaria could adopt the European single currency as early as January 2023, says the international rating agency.

Moldova’s president says transfer of Chisinau airport to Rothschild fund was halted

Iulian Ernst in Bucharest August 26, 2019

President Dodon says the 2013 concession contract for Moldova's only international airport is being reviewed and should be cancelled.

Number of companies calling it quits in Turkey up nearly a quarter in July

bne IntelliNews August 25, 2019

More than 700 enterprises were shuttered amid country’s dire economic straits. Meanwhile, NPLs made to tourism industry climbing. Hoteliers complain of low per capita spending by foreign tourists.

Popularity of Poland’s PiS hit after media reveal deputy justice minister orchestrated smear campaign against judges

Wojciech Kosc in Warsaw August 25, 2019

Should more polls confirm the dent in PiS’ popularity, the ruling party might face not winning an outright majority — which it enjoys now — in the general election due on October 13.