NEMETHY: Is bitcoin the new gold?

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors November 15, 2021

Much has been written about how bitcoin has taken lustre and market share from gold over the past decade. But has the death of gold been much exaggerated?

Savitsky’s museum, the Louvre of the Steppe

Ben Aris in Nukus November 14, 2021

The small town of Nukus in the wastes of Uzbekistan’s Qizilqum (aka Kzyl-Kum) desert is the “Louvre of the Steppe.” The new building houses an Aladdin’s cave of lost Russian impressionist art, rescued from Stalin's terror of the 30s.

Digital divide adds to multi-speed recovery from coronavirus finds EBRD

Clare Nuttall in Glasgow November 13, 2021

New EBRD Transition Report warns there is a widening gap between economies that have stepped up their use of online and digital services and those that have fallen further behind.

ING: Russia’s current account stabilises despite higher oil prices

Dmitri Dolgin chief economist Russia ING November 12, 2021

The $12.3bn current account in October was big, but no bigger than the 3Q21 average, despite tighter energy markets. Exports are likely to catch up with it in November-December, but so will imports and FX purchases.

ING: Sticky inflation risks force CEE central bankers to keep on hiking rates

Valentin Tataru chief economist for Romania at ING, Peter Virovacz Senior Economist in Hungary at ING, Leszek Kasek is the Senior Economist in Poland at ING, Rafal Benecki is the Chief Economist in Poland at ING November 12, 2021

Disruptions in global value chains continue to weigh on Central and Eastern Europe, and the Delta variant is blurring the outlook for the fourth quarter. Record high inflation can no longer be written off as temporary as rates rise across CEE.

Russia's population policy action plan to 2025 about to start

bne IntelliNews November 12, 2021

The action plan for Russia's population policy program until 2025 is about to start. The plan is the final step in the population policy guidelines adopted by President Putin in 2007.

bneGREEN: Beyond Oil and Gas Alliance aims to end oil and gas production

Richard Lockhart in Edinburgh November 11, 2021

The Beyond Oil and Gas Alliance (BOGA) is calling for an immediate end to new licensing rounds for oil and gas exploration, and has signed up 11 governments to a promise to end oil and gas production by 2050.

bneGREEN: COP26 sectoral initiatives could close 2030 emissions gap by 9%

Richard Lockhart in Edinburgh November 11, 2021

An initial assessment by Climate Action Tracker of the impact of the Glasgow sectoral announcements for methane, coal, forests and transport show they would reduce the 2030 emissions gap between current government action and a 1.5C pathway by 9%.

bneGREEN: Guterres stresses emissions, finance gaps still major barriers to 1.5C

Richard Lockhart in Edinburgh November 11, 2021

UN Secretary-General António Guterres told the COP26 summit that much work remains to be done to fill the emissions gap and the finance and adaptation gap, despite welcoming the agreements on forests, methane and coal made so far.

EU prepares fresh sanctions on Belarus in response to the refugee crisis

bne IntelliNews November 11, 2021

The EU accused Belarus' President Alexander Lukashenko of running a “gangster state” and is preparing fresh sanctions ahead of a meeting of the foreign council on November 15.

bneGREEN: 23 countries make zero-emissions vehicle pledge

Richard Lockhart in Edinburgh November 10, 2021

November 10 was Transport Day at COP26 in Scotland, and parts of the automotive industry had pledged to end the sale of petrol and diesel cars and vans by 2035 in leading markets and by 2040 across the globe.

bneGREEN: First COP26 agreement lacks targets and detail

Richard Lockhart in Edinburgh November 10, 2021

COP26 has come up with a first draft agreement that calls on governments to improve substantially by the end of 2022 their emissions reduction targets and long-term strategies for reaching net zero.

bneGREEN: COP26 still far from comprehensive agreement

Richard Lockhart in Edinburgh November 10, 2021

The first week of COP26 was dominated by grand statements by governments, and a number of sector-specific targets covering methane, coal and deforestation.

INTERVIEW: Operation Garden Ring banks shut down

Ben Aris in Berlin November 10, 2021

The Mints family used to be one of the biggest players on the Moscow real estate market but their business was destroyed in the 2017 near-miss banking crisis. They claim the crisis was orchestrated by the CBR to take over the top commercial banks.

bneGreen: Development banks ADB, EBRD, EDB up the ante at COP26

Theo Normanton in Moscow November 10, 2021

The UN’s COP26 climate conference in Glasgow has seen development banks from around the world come together to outline their contributions to a low-carbon future. Robust financial infrastructure is key to a just and efficient transition.

Poland, Lithuania close borders with Belarus as Lavrov suggests EU pay Minsk to keep refugees

bne IntelIiNews November 10, 2021

Lithuania’s parliament declared a state of emergency at the country’s border with Belarus on November 9. It has closed the border to prevent migrants seemingly deployed by Minsk crossing.

Microchip shortage still cuts Russian car sales by 18% in October

bne IntelliNews November 9, 2021

Russia’s new car and light commercial vehicle market saw the fourth consecutive month of year-on-year decline in October, as the sales took another cut of 18% y/y to 0.126mn.

bneGREEN: Paris Accords targets will be missed, World on course to see 2.7C-3.1C increases in temperature by 2100 without drastic reductions

bne IntelliNews November 8, 2021

The global community will miss the Paris Accord target of keeping temperature rises to 1.5C and will see them climb to between 2.7C and 3.1C by 2100 unless emissions are cut by 15% a year from now on.

Russia’s venture capital market is booming, fuelled by a run of billion dollar IPOs

Ben Aris in Berlin November 7, 2021

Russia’s venture capital market is booming as entrepreneurs and business hope to cash in on the international appetite for the rapidly expanding tech sector.

Sber to open R&D centre in Berlin “to expand horizons in machine learning”

East West Digital News in Moscow November 7, 2021

Sber, the Russian financial and digital giant, is preparing to open an R&D centre in Berlin – its first one in Western Europe.