Nicholas Watson in Prague
Thu, 2nd Aug -- The uneven nature of progress in the region's frontier markets can be frustrating for investors. However, regional moves are afoot that could lay the foundations for a more general, widespread and enduring improvement in the investor environment.

Stratfor
Thu, 2nd Aug -- Twenty years after the dissolution of Yugoslavia, the states of the Western Balkans are back to the traditional model of being shaped less by internal dynamics and more by external powers: namely, the West, Turkey and Russia. The changing nature of these external powers, particularly the EU and Nato, but also Turkey and Russia, will be the force that drives the Western Balkans.

Andrew MacDowall in Belgrade
Thu, 26th Jul -- Over the past half-decade, the Albanian oil and gas industry has undergone something of a revival. International firms are involved in exploration, extraction and export; production has almost doubled since 2005; both the expansion of the oil products industry and the development of energy transit routes through Albania are on the cards.

Nicholas Watson in Prague
Thu, 2nd Aug -- A growing number of Mongolians may want to limit the amount of foreign control over their natural resources, but the country is in dire need of investment in its absent or crumbling infrastructure, and foreign investors will be crucial to achieve this.

Jahan Hoggarth, Clare Nuttall and Nicholas Watson
Thu, 2nd Aug -- Azerbaijan is an infuriating country for investors. The economy of this energy-rich, mainly Muslim nation managed to grow 9.3% even during the depths of the global economic crisis in 2009, though it's ruled over by an authoritarian regime that stamps down on any dissent and the drumbeats of war with Armenia continually rumble in the distance.

Clare Nuttall in Almaty
Thu, 2nd Aug -- The Kyrgyz government's decision to revise its agreement with Centerra Gold on the country's largest gold mine, Kumtor, has been a blow to hopes of a stable regime for investors following the 2010 revolution in the Central Asian country.

Clare Nuttall in Almaty
Thu, 2nd Aug -- BHP Billiton, one of just two companies still in the running to develop Tajikistan's largest silver deposit, has pulled out, leaving the future of the tender process in doubt.

Clare Nuttall in Almaty
Thu, 2nd Aug -- Tajikistan saw bank deposits increase by 20.5% in the first five months of 2012, reflecting a growing economy and rising public confidence in the banking sector. This trend is expected to continue, but given the Tajik economy's vulnerability to external shocks, the speed with which the banking sector develops will depend on the international economy, especially events in Russia.

Sherelle Jacobs in Cologne
Thu, 2nd Aug -- Mongolia's growing economic clout is no secret, but evidence points to Germany being more privy to the Central Asian country's potential than most of its European counterparts.

Artem Zagorodnov in Ulyanovsk
Thu, 2nd Aug -- Ulyanovsk's FDI has gone from RUB6.9bn in 2003 to RUB61.8bn last year, with the region taking first place for FDI growth in the Volga Federation Region. Most of this growth has come from the retail and manufacturing sectors: Mars and Metro Cash & Carry were the most recent international giants to set up local production operations.

Ian Bancroft in Belgrade
Thu, 2nd Aug -- The International Steering Group for Kosovo (ISG) announced in early June the end of international supervision of Kosovo's statehood after four years since its unilateral declaration of independence from Serbia.

bne
Thu, 2nd Aug -- Two banks connected to the billionaire leader of Georgia's leading opposition party may have become hostage to Bidzina Ivanishvili's battle with the government ahead of the elections, but Georgian banks in general are flexing their lending muscles as trust and demand for loans grows.