Daily List

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The Czech unit of UK telecommunications group Vodafone reported profit of CZK208mn (Û7.5mn) in the fiscal year to March 2014, down by some CZK750mn from the...Read more

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Latvia is blocking the development of a pan-Baltic gas market, state-owned Lithuanian LNG importer Litgas claimed on December 2, by failing to open up its...Read more

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Estonia's e-residency project, launched this month, could weigh on the country's IT systems or expose it to an influx of criminal activity, a government...Read more

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Polish broadcaster TVN claimed on December 2 that several international giants are jockeying to buy control of the company, and added it could name a buyer...Read more

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The sanctions imposed by the West on Russia over its involvement in the Ukraine conflict are harming business confidence in Hungary, a government official...Read more

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Romania's main opposition party will vote against the 2015 budget planning bill in January and will initiate a non-confidence motion in early February, as a...Read more

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Montenegro's privatisation agency said it has opened a new tender for the sale of the cigarette maker Novi Duvanski Kombinat Podgorica (NDKP), which is the...Read more

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The development of a pipeline to link the Black Sea shore with Podisor is a strategic project for Romania's natural gas sector, Energy Minister Eugen...Read more

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Russia's decision to axe the South Stream gas pipeline project is a blow for South-East European countries from Bulgaria to Austria, which had hoped the...Read more

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The CPI rate in Kazakhstan advanced by 7.6% y/y in November, the State Statistics Committee has informed. In m/m terms, inflation reached 0.6% while since...Read more

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The Georgian parliament has passed a controversial government-backed bill on surveillance that allows the Ministry of Interior to retain direct access to...Read more

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The Kazakh National Chamber of Entrepreneurs has denied the possibility of switching to national currencies in trade within the Eurasian Economic Union (EEU...Read more

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Rio Tinto-controlled Turquoise Hill delayed the closing of a sale of over a half of its 50% stake in South Gobi Resources, a coal mining firm with...Read more

December 3, 2014
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President Vladimir Putin announced that Gazprom would abandon its much hyped $30bn South Stream gas pipeline project, which by running from Russia to...Read more

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Russia's government has decided to prolong the 'cash for clunkers' old vehicle utilization program into 2015 and to expand the existing 2014 program by...Read more

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Russia's ministry of economic development has presented a worsened economic outlook for 2015, in which $80 per barrel oil price translates into stronger...Read more

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Russia's second-largest bank VTB Bank is determined to take one of the most indebted Russia's industrial holdings Mechel to court, as all other attempts to...Read more

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Ukraine has still to pay for over 1 billion cubic meters (bcm) of natural gas it needs in December, $385m, outgoing energy minister Yury Prodan said on...Read more

December 3, 2014
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Natural gas sales by exploration and production company JKX Oil & Gas may fall up to 50% in Ukraine in December, the company reported on December 1....Read more

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Ukraine's state budget collections declined 2.9% yoy in November, according to a State Treasury report. In October, it grew by 3.1% y/y.

In 11M14,...Read more

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Ukraine has still to pay for over 1 billion cubic meters (bcm) of natural gas it needs in December, $385m, outgoing energy minister Yury Prodan said on...Read more

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Five weeks after parliamentary elections in Ukraine on October 26, the crisis-stricken country is one step away from getting a new government - including...Read more

November 28, 2014
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Anadolu Group may complete the purchase of a stake in supermarket chain Migros by the end of January, Anadolu Group's chairman Tuncay Ozilhan told Reuters...Read more

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The Central Bank of Turkey on November 27 released the minutes of the Monetary Policy Committee (MPC) meeting held on November 20 where the Bank left its...Read more

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Islamic lender Kuveyt Turk has launched a $250mn dual-currency murabaha loan into general syndication, bankers told Reuters on November 27.

The...Read more

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The seasonally & calendar adjusted tradeÊ& service turnover index rose 4.8% q/q in the third quarter of 2014, the statistics institute TUIK said on...Read more

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Consumer confidence continued to fall in November as consumers' assessments of economic outlook, job prospects deteriorated.

The consumer confidence...Read more

Weekly List

December 15, 2014
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The 2015 outlooks for banking systems in the Commonwealth of Independent States (CIS) are dominated by geopolitics and oil, Fitch Ratings says. Sanctions...Read more

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City Commerce Bank might ring a bell with visitors to Kyiv - ifÊonly because a giant advertising display bearing the bank's name recentlyÊtopped one of Kyiv...Read more

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Hungary wantsÊto offer the country's battered banksÊa new deal, in a bid to get them to restart lending, Prime Minister Viktor Orban said in comments...Read more

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Men wearing military uniforms, and reportedly bearing arms, burst intoÊthe Kyiv building whereÊthe World BankÊis headquartered on December 5, according to...Read more

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The Czech banking sector is highly stable and well preparedÊto withstand potential shocks, the Czech National Bank (CNB) reported as it released the results...Read more

December 15, 2014
bne IntellinNews

Naubet Bisenov in Almaty

Two of Almaty's biggest classified ad newspapers will go digital-only from next year. After 18 years in print, the decision...Read more

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Yandex purchased a small IT company, Metabar, which was developed as an online shopping assistant, from Runa Capital, Vedomosti reports. Specifically,...Read more

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Despite an economy on the brink of recession, the Russian market for IT services has grown by 7.4% this year, according to survey made by technology...Read more

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The National Communications Regulation Commission (NCRC) has officially launched a tender for three 3G telecom licenses. The tender will take place on...Read more

Sberbank CIB

Ukraine's National Communications and Information Regulation Commission (NCIRC) yesterday announced that it will hold an auction for 3G licenses, Interfax...Read more

December 15, 2014
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Rating agency S&P cut Bulgaria's sovereign credit rating from investment grade BBB- to the junk status of BB+ due to weakness in the country's banking...Read more

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Russia's largest oil company, state-owned Rosneft, placedÊRUB625bn ($11bn) of bonds on December 11, apparently withÊprivate buyers, leaving the market...Read more

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The International Monetary Fund (IMF) estimates there is a $15bn shortfall in its bailout for Ukraine and has warned western governments that the gap will...Read more

VTB Capital

The CBR increased rates 100bp to 10.5% yesterday on inflation grounds. The regulator stressed its readiness to tighten policy further should inflation risks...Read more

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In order toÊput the country back on a sound financial footing, Ukraine's finance ministry is proposing sweeping cuts, from cutting the years of mandatory...Read more

December 15, 2014
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Atrium European Real Estate has reportedly agreed to pay over €150mn for aÊ75% stake in the Arkady shopping mall in Prague from French developer Unibail-...Read more

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Czech brewer Pivovary Lobkowicz has bought full control of peer RychtarÊafter exercising an option to buy the 30% it did not previously own,it said in a...Read more

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If Serbia resumes the sale of Telekom Srbija now, it will get a higher price than the €1.4bn that nobody was ready to pay four years ago, the company's CEO...Read more

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A draft bill on the privatisation of state oil company TPAO has been prepared and it will be submitted to the cabinet of ministers, energy minister Taner...Read more

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French companies AXA and Coface have started offering joint export insurance policies in Serbia, helping domestic exporters cushion the risk of non-payment...Read more

December 15, 2014
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"Trade from Lisbon to Vladivostok: yes, it's a beautiful vision," said Cecilia Malmström, the new EU trade commissioner, at a recent parliamentary meeting...Read more

Concorde Capital

The Energy Community's Secretariat has called for the immediate cancellation of the Ukrainian government decree that granted exclusivity to state enterprise...Read more

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Jan Cienski in Warsaw

Polish property developers are ramping up residential developments after years of lacklustre growth - but this is likely to...Read more

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Russia's largest natural gas producer and pipeline exports monopolist Gazprom announced creating a subsidiary for construction of a new pipeline to Turkey....Read more

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Russia's state-owned nuclear power operator Rosatom will supply 12 nuclear power blocks toÊIndia over the next 20 years, according to an agreement signed...Read more

December 15, 2014
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The European Investment Bank (EIB) has agreed to lend €100mn toÊHungarian Electricity Works (MVM) to support the state-owned company's investment programme...Read more

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Aleksandra Jarosiewicz in Warsaw and Naubet Bisenov in Almaty

A new railway connecting Central Asia with the Persian Gulf through Iran was officially...Read more

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Investment and finance company AviaLeasing has filed bankruptcy lawsuit against Russia's third-largest air carrier Utair. The details of the lawsuit are not...Read more

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On Monday, Mostotrest announced that it had won the tender for a government contract for RUB7.9bn ($148mn, including VAT) to rebuild the bridge across the...Read more

UralSib

Turnover at Russian seaports grows 6.0% year-on-year in 11M14. According to the Association of Trade Sea Ports, throughput at Russian ports grew 6.0% year-...Read more

December 15, 2014
Henry Kirby in London

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ÊThe plunge in the value of the rouble this month has led to press reports that Russian GDP, having previously been valued at more than $2,000bn,...Read more

December 15, 2014
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The Central Bank of Turkey reported on December 11 a total of $744.3mn inflows into the bond and equity markets in the week to December 5 that came on top...Read more

Sberbank CIB

Duma deputies are considering introducing a 10% cap on any single shareholding (direct or indirect) in Moscow Exchange, according to today's Vedomosti. The...Read more

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The shares of Russian private oil-to-telecom conglomerate Sistema on December 8 dropped in Moscow by 16% to RUB7.5/share, the lowest since March 2009, Prime...Read more

Sberbank CIB

Sistema yesterday announced that together with wholly owned subsidiary Sistema-Invest, it has transferred its stake in Bashneft to the Federal Property...Read more

Garden Hills owned by Russian tycoon Roman Avdeyev has closed a series of deals with minority shareholders to raise its stake in pharmaceutical company...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.