The hits on Emerging Europe's banks keep coming thick and fast as legacy problems from the 2008 crisis continue to dog the sector. The latest example is Erste Group's €930m loss in the first half of the year.
Warsaw leapt on July 29 to push troubled flag carrier LOT Polish Airlines to raise its efforts to find a buyer as a ruling from the European Commission on state aid cleared the way for any potential saviour.
The EU and US expanded sanctions against Russia late on July 29, hitting the country's banking, energy and defence industries. Talk of even further action threatens to weigh further on the sluggish Russian economy.
July 29, 2014
- James de Candole of Candole Partners
Former National Gallery of Prague head Milan Knizak was a big supporter of AHAE - the artistic alter ego of the South Korean owner of the ferry that capsized killing 304. Was there more than artistic appreciation at work?
Germany's BayernLB announced on July 24 that it has agreed to sell Hungarian unit MKB to the state. A senior government minister called the purchase a "first step" in its strategy to raise local bank ownership.
Ukraine's interim government resigned on July 24 in a move designed to spark snap elections. Meanwhile, with the violence in eastern Ukraine unabated, international pressure continues to build on Moscow.
Jan Kulczyk is back. After years of keeping a very low profile in his home country, Poland's richest man is again cutting deals and spooking politicians after becoming embroiled in an ongoing bugging scandal.