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Salaries shot up in some sectors but wage growth was below average in the lowest-paid sectors.
Czechia, Estonia and Slovakia are planning budget cuts at a time when interest rates are still painfully high and many economies have yet to emerge from recession.
The court found that a unit of the bank had acted in bad faith and failed to safeguard Ivanishvili's assets, resulting in substantial losses.
Flashing red lights on lira, sky-high inflation, dwindling FX reserves and soaring cost of insuring debt against default. A currency crisis could be around the corner.
With little expectation strongman Erdogan will be toppled in May 28 run-off vote, markets guard against economic calamity.
The Uzbek government is planning to privatise several state-owned enterprises by floating their shares on the Tashkent Stock Exchange (TSE) and has turned its attention to getting them ready, but the market remains narrow and shallow.
Lira hits latest record low and cost of insuring debt soars. New data, meanwhile, shows central bank burnt through $17bn in weeks before polls attempting to prop up economy.
The Black Sea Grain Deal has been extended for another 60 days, Turkish President Recep Tayyip Erdogan tweeted on May 17.
Alfa Group of sanctioned oligarchs Mikhail Fridman and Petr Aven is planning to exit all its Russian activities and split the group into domestic and overseas divisions.
As Russia’s war in Ukraine upends the flow of fuels and commodities around the globe, countries including its ex-Soviet neighbours are hunting for alternative routes that avoid Russia.
Turkish Foreign Minister Mevlut Cavusoglu has thrown his weight behind Russia in the negotiations to extend the Black Sea grain deal, saying the Kremlin’s complaints are “not unfounded.”
New data shows that the EU is still among the largest importers of oil products from Russia, which are routed through 'laundromat' countries to avoid sanctions, according to the CREA.
Bulgarian government has already given up on applying to join the euro in January 2024, and polls show almost half the population don't want to adopt the euro.
Japan has been purchasing Russian crude oil at a price that exceeds the $60 per barrel price cap set by the G7 nations and Australia earlier this year, according to a recent report in the Wall Street Journal.
Russia’s leading social media platform VK has taken advantage of the crisis to snap up assets and expand its business in 2022, but at a cost.
Romania’s Financial Supervisory Authority decided to withdraw Euroins' license and file a bankruptcy request.
World Bank expects Kosovo's economy expanded by 3.1% in 2022, with growth to speed up to 3.7% this year.
Alfa Bank is a doyen of the Russian banking sector, a well spring of trained talent in the 1990s that did “real” banking business at a time when most oligarchs’ banks were either “bank-like” institutions or glorified treasury operators.
The discounts Russia is being forced to offer on its oil exports after twin sanctions were imposed look big, but thanks to huge changes in the market the real price Russia gets for its oil is much higher.