http://www.bne.eu en 180 http://www.bne.eu/story3221 The third popular protest went off without a hitch on Saturday, February 4 and moves the fight between the disgruntled middle class and the Kremlin into a new phase: a war of attrition has begun. http://www.bne.eu/pics/1/3221_thumbnail_protest.jpg http://www.bne.eu/story3221 http://www.bne.eu/story3219 Hungary's flag carrier Malev failed in its bid to overcome a chronic cash shortage and ceased operating on February 3, after a loss of confidence which spiraled downwards swiftly following a move by the government on January 30 to protect it from creditors. Analysts fret the airline's failure could have big knock-on effects for the country's economy, including a possible doubling of the projected budget deficit for the year. http://www.bne.eu/pics/1/3219_thumbnail_grounded_malev.jpg http://www.bne.eu/story3219 http://www.bne.eu/story3217 Russia's gas heavyweight Gazprom is reportedly close to attaining one of its most cherished dreams – control over Ukraine's gas transit system (GTS). Ukraine seems ready to cede Russia parity control of the GTS in exchange for a big gas price rebate, as the country finds itself between a rock – Russia – and a hard place – the International Monetary Fund. http://www.bne.eu/pics/1/3217_thumbnail_gashubbaumgarten.jpg http://www.bne.eu/story3217 http://www.bne.eu/story3215 Rising food prices, bread riots, drought, famine, land grabs in emerging markets – headlines over the past several years clearly show that agriculture will be a key investment sector over the coming decade. So to help investors gain exposure to this under-invested sector, GAIA Capital Advisors has devised a new agricultural index that offers investors exposure to global farming companies, many in emerging markets, which will be the basis for the launch of an exchange-traded fund. http://www.bne.eu/pics/1/3215_thumbnail_farming.jpg http://www.bne.eu/story3215 http://www.bne.eu/story3213 Central European countries reported lowered gas imports on February 1 after Russia's gas export monopolist Gazprom announced it had diverted extra flows to its domestic market amidst the sudden cold snap. While Poland and the Czech Republic downplayed the news, the fact that Russia has cut volumes as temperatures hit new lows for this winter will do little to improve European customers' view on it as a reliable energy supplier. http://www.bne.eu/pics/1/3213_thumbnail_natural_gas_line.jpg http://www.bne.eu/story3213 http://www.bne.eu/story3189 Welcome to bne's "Investment Bank Survey 2011", our second annual survey for Central and Eastern Europe compiled from interviews and using data from Dealogic. Despite the nervous pall that hangs over the capital markets, our 2011 survey shows that investment banks in the region managed to hold their own against the deteriorating crisis conditions. However, it's an open question whether 2012 promises to be a further step back towards the nadir hit in 2009 or the base from which a recovery in business can be built. http://www.bne.eu/pics/1/3189_thumbnail_inv_bank_thumb.jpg http://www.bne.eu/story3189 http://www.bne.eu/story3211 Santander is in talks to take over an unnamed Polish bank, Chairman Emilio Botin announced to reporters on January 31, as the Spanish giant looks to take advantage of the crisis for a second time to increase its presence in one of Europe's choice growth markets. http://www.bne.eu/pics/1/3211_thumbnail_santander.jpg http://www.bne.eu/story3211 http://www.bne.eu/story3209 Overall Aura http://www.bne.eu/pics/1/3209_thumbnail_Navalny.jpg http://www.bne.eu/story3209 http://www.bne.eu/story3208 The Belarusian authorities may have decided not to sell a stake in Belarusbank due to the unfavourable market conditions, but a year after the last M&A deal in the country's banking sector, when Sberbank of Russia bought state-owned BPS-Bank, new bargains could be soon available – and Russian capital will probably be front and centre. http://www.bne.eu/pics/1/3208_thumbnail_Moscow-MinskBank.jpg http://www.bne.eu/story3208 http://www.bne.eu/story3204 Privatisation has long been a contentious issue in Serbia, with no clear consensus on the merits of transferring state property into the hands of private, often foreign investors. And with the recent privatisation of some major state companies not only stalling, but in some cases reversed, some are wondering what needs to change to make Serbia a more attractive place for investors. http://www.bne.eu/pics/1/3204_thumbnail_serbia-steel.jpg http://www.bne.eu/story3204