Daily List

Reuters

Polish manufacturing activity shrank for a second straight month in August and Czech expansion slowed more than expected, adding to signs weaker euro zone...Read more

CapEcon

Wednesday's interest rate decision in Poland remains an extremely close call, but given the weakness of the latest inflation and activity data we have...Read more

Reuters

Nervously eyeing Russian naval maneuvers and military flights near their borders, the three ex-Soviet Baltic states fear they may emerge as the next...Read more

Citi

á Activity in the manufacturing sector in Central Europe deteriorated and the PMI index for CEE dropped to 50.6 in August from 52.2 in July. The...Read more

Interfax

Expobank has closed a deal on the acquisition of the Czech bank, LBBW Bank CZ, from German Landesbank Baden-Wurttemberg (LBBW), the Russian bank said in a...Read more

David O'Byrne in Istanbul

After lengthy speculation that the appointment of former foreign minister Ahmet Davutoglu as Turkey's new prime minister would result in across-the-board...Read more

Sandy Gill in Sofia

Ekaterina Zaharieva is on the warpath. So, for that matter, is Vasil Shtonov. They are, respectively, the deputy premier and the minister of economy and...Read more

SeeNews

Bulgaria's central bank said on Monday the two biggest shareholders of the collapsed Corporate Commercial Bank [BUL:6C9] have failed to come up with...Read more

Business Review

Prime Minister Victor Ponta has invited Chinese companies to invest in key sectors of the local economy such as agriculture, energy and infrastructure,...Read more

bne

Podgorica has opened talks with Qatari Diar after the Qatari property developer announced it was dropping a €350m investment on Montenegro's Adriatic coast...Read more

Naubet Bisenov in Almaty

A poster for a gay-friendly nightclub in Almaty featuring the great Kazakh composer Kurmangazy and Russian author Pushkin engaged in a kiss has caused...Read more

bne

Uzbekistan marked the 23rd anniversary of its independence on September 1, a day after President Islam Karimov voiced "concern and anxiety" over the "...Read more

bne

Kazakhstan launched an amnesty for shadow capital and undocumented property on September 1. The government estimates some $12bn will be brought out of the...Read more

Eurasia Capital

CHINA'S PRESIDENT XI JINPING VISITED MONGOLIA. Chinese President Xi Jinping paid an official visit to Mongolia on August 21-22, 2014, making it the first...Read more

Itar-Tass

Georgia's Chief Prosecutors Office has launched the procedure for putting former President Mikhail Saakashvili on the international wanted list, the office...Read more

bne

September 1 saw more sabre rattling in Berlin and Brussels with more demands that "Russia must be made to pay," while in the Belarusian capital Ukrainian...Read more

Reuters

Europeans could be barred fromÊbuying new Russian government bonds under aÊpackage ofÊextra sanctions over Moscow's military role inÊUkraine that European...Read more

Graham Stack in Volnovakha, Ukraine

As Ukrainian President Petro Poroshenko promises dismissals among top security officials following battlefield defeats, investigators identified two top-...Read more

VTB Capital

Russia (RTSI -1.1% @1,178, RUB -0.7% @37.33). The Russian stock market posted tangible declines for the third consecutive day as the stream of headlines on...Read more

bne

Russia's Putin is said to have told European Commission President Barroso, "If I want, I could take Kiev in two weeks," according to La Repubblica story on...Read more

bne

September 1 saw more sabre rattling in Berlin and Brussels with more demands that "Russia must be made to pay," while in the Belarusian capital Ukrainian...Read more

Tim Ash, Standard Bank

I am amazed by the generally poor media & business commentary around Ukraine/Russia relations, which often belies a fundamental lack of understanding of...Read more

Graham Stack in Volnovakha, Ukraine

As Ukrainian President Petro Poroshenko promises dismissals among top security officials following battlefield defeats, investigators identified two top-...Read more

Concorde Capital

Investors kicked off September dumping their Ukrainian equities on Monday, Sept. 1. The WIG Ukraine Index of Warsaw-traded stocks plunged 4.3%, hitting its...Read more

bne

June 7, 2013

To cheering crowds greeting his return at the airport, Turkish Prime Minister Recep Tayyip Erdogan in general kept to his...Read more

VTB Capital

News: The Central Bank of the Republic of Turkey has published its regular weekly statistics: lending growth accelerated to 24.8% YoY and outflows from the...Read more

VTB Capital

News: Having returned home late last night, Prime Minister Tayyip Erdogan made a brief statement at 3am at Ataturk Istanbul airport to the pro-AKP crowd...Read more

Hurriyet Daily News

More than 10,000 supporters of Prime Minister Recep Tayyip Erdogan flocked to Istanbul's AtatŸrk Airport to greet him on his return from his four-day trip...Read more

VTB Capital

In May, the VTB Capital Banks Index was down 5.9%, underperforming both MSCI EM Banks (-1.9%) and MSCI RU (-3.6%). Russian banks were in a volatile trading...Read more

Weekly List

Erste

As of the August 25 deadline, 79 financial institutions had initiated a lawsuit against the state in the 'FX case' against the Hungarian state. OTP and FHB...Read more

Reuters

Hungary's Budapest Municipal Court on Friday rejected a lawsuit brought by a small savings bank to challenge a new law mandating refunds to loan clients,...Read more

bne

Around $20bn in Russian funds has been laundered over the last four years through a scheme that involves sending huge sums from the UK through Latvian and...Read more

Bloomberg

The UK will press EU leaders to consider blocking Russian access to the SWIFT (Society for Worldwide Interbank Financial Telecommunications) banking...Read more

Bloomberg

The U.K. will press European Union leaders to consider blocking Russian access to the SWIFT banking transaction system under an expansion of sanctions over...Read more

September 1, 2014
bne

Russia's innovation sector lost some $50m in January-June due to the sanctions imposed by the U.S. and the E.U., the National Association of Innovations and...Read more

Bloomberg

Russian hackers attacked the U.S. financial system in mid-August, infiltrating and stealing data from JPMorgan Chase and at least one other bank, an...Read more

Moscow Times

Russia's space agency, Roscosmos, has requested 16 billion rubles ($440 million) for the development of inflatable space station habitats, Interfax reported...Read more

RFE/RL

A new 24-hour English-language television channel called "Ukraine Today" began satellite and internet broadcasting from Kyiv on August 24 with news stories...Read more

Sberbank CIB

Yandex yesterday announced changes to its senior management team.

Alexander Shulgin, CFO of the Yandex group of companies since 2010, will be...Read more

Sberbank CIB

The Belarusian economy has performed relatively well in recent months, y-o-y industrial growth turning positive after contracting 4.8% in 2013 and 7.1% in...Read more

VTB Capital

Faced with a limited pool of fiscal resources to draw on, the authorities might also opt to expand directed/subsidised lending to priority investment...Read more

Sberbank CIB

The official estimate of GDP growth over 1H14 is 3.9% y-o-y. The value added produced by the industrial sector (including raw material extraction,...Read more

UralSib

Economy contracts 0.2% YoY in July after 0.1% YoY drop in June. On Friday the Economy Ministry reported that GDP contracted 0.2% YoY in July. Moreover, the...Read more

Erste

Croatia: The degree of synchronization of business cycles between Croatia and the EA is very high, with annual growth rate correlation standing above 75%....Read more

WSJ

Czech-based electricity company CEZ is serious about bidding for its Slovak peer Slovenske Elektrarne AS, a senior company official said, setting the stage...Read more

Bloomberg

The Slovak unit of Enel is violating an agreement that allows it to operate the Gabcikovo hydro power station, according to a document discussed by Slovakia...Read more

Sberbank CIB

North Atlantic Drilling (NADL) announced on Friday that it will be taking over the bulk of Rosneft's drilling business (150 rigs) in exchange for giving...Read more

bne

Slovakian gas transit operator Eustream said on August 26 it has no plans to play a management role in Ukraine's gas transit system. The announcement...Read more

Moscow Times

Russia intends to press ahead with plans to privatize a 19.5 percent stake in state-owned oil giant Rosneft, RIA Novosti reported Thursday, citing Economic...Read more

Jan Cienski in Warsaw

The Polish prime minister promised on August 27 to raise old age pensions and child benefits. Donald Tusk is doling out expensive goodies to voters ahead of...Read more

bne

China wants to receive E.U. and U.S. quotas on pork supplies to Russia, the Federal Service for Veterinary and Phytosanitary Oversight said Friday after...Read more

Fitch Ratings

August 29, 2014Europe

is unlikely to be able to reduce its reliance on Russian natural gas for at least the next decade and potentially much longer...Read more

Daily Telegraph

Policymakers will have no choice but to continue buying gas from Russia until at least the mid-2020s and "potentially much longer", according to Fitch...Read more

Platts

Poland will invest about Zloty 5 billion ($1.57 billion) in shale gas exploration by 2016, the country's treasury minister Wlodzimierz Karpinski said...Read more

Reuters

State-controlled Russian airline Aeroflot will create aÊnew low-cost subsidiary toÊreplace sanctions-hit Dobrolyot, news agency RIA Novosti reported Sunday...Read more

bne

Russian state-owned bank Vnesheconombank (VEB) will purchase 11.61m of Sukhoi Civil Aircraft shares for $694m from United Aircraft Corporation (UAC) with an...Read more

Metropol

According to media reports, Russian government officials have agreed the general contractor and sub-contractors to build a joint rail and automotive bridge...Read more

Moscow Times

Vladimir Yakunin, the long-serving president of Russia's biggest employer, Russian Railways, was on Monday appointed to a new three-year term by Prime...Read more

bne

Russia's Aeroexpress, a city-airport commuter operator, wants to use RUB24.6bn from the National Wealth Fund (NWF) to buy double-decker trains and build two...Read more

September 1, 2014
bne:Chart

Ukraine's crumbling finances has had the bond markets desperately trying to gauge the dangers and potential of state debt throughout the crisis. The likely...Read more

Peter Elam Hakansson, chairman & CIO, East Capital

The on-going crisis in Ukraine dominated the headlines in April, as the de-escalation efforts seem to have failed. The situation remains extremely tense...Read more

UralSib

Inflows into Russia ETFs strongest since early April. Russiadedicated funds in the week through to Wednesday reported net inflows of $47 mln, according to...Read more

Quartz

It's been an eventful day. Two large regions in Ukraine's industrial eastÊdeclared their independence, refused to participate in the upcoming Ukrainian...Read more

Marcus Svedberg, East Capital

Turkey was the most notable outperformer in Eastern Europe in April. The Borsa Istanbul index gained 8% during the month and rallied almost 30% from March...Read more

WSJ

The Czech Republic, renowned globally for its beer, is about to welcome its first publicly-traded brewer.

Czech closely-held brewing group Pivovary...Read more

Special Reports

Azerbaijan

Azerbaijan treads a cautious diplomatic path

Azerbaijan is in a situation Poles can sympathise with - wedged between two powerful and occasionally belligerent neighbours, both of which have occupied it in the past. But while it has in common with Poland a difficult relationship with Russia, on its other flank lies not liberal democratic Germany, but theocratic and difficult Iran.

Not quite Spring in Azerbaijan

The demonstration ended with rubber bullets, water cannon and arrests - a common denouement to protests in Azerbaijan. But were the scenes in Baku on March 10 the sign of a swelling popular movement that could topple President Aliyev, or merely a minor drama involving a small rent-a-mob bent on provocation and with little support?

Azerbaijan's ambitions in space

In February, Azerbaijan launched its first commercial communications satellite Azerspace-1, which is designed to tap into the massive demand for high-quality broadband internet, data and broadcasting services across the Caucasus, Central Asia and Africa.

Promoting Azerbaijan

While businesses are figuring out what to make of the investment opportunities in Azerbaijan, the country is hard at work at finding ways to attract investors and encourage the growth of its non-oil sector.

Baku pushes Azerbaijan's high-tech sector

A state-owned venture capital fund is poised to start making its first investments in Azerbaijan, where the government is aggressively pushing the development of its ICT sector as part of its efforts to diversify the economy.