Latest Updates

CAUCASUS BLOG: The long and illegal road to Stepanakert

A 2012 visit to the main town in the disputed enclave of Nagorno-Karabakh revealed attempts to live a normal life and build a better future in the heart of a long-frozen conflict that has now re-ignited.

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COMMENT: Don’t disregard potential for Armenia and Azerbaijan’s war to spiral into something much bigger

Should Turkey militarily enter the conflict on Baku’s side and Russia come to the armed defence of Yerevan, things could get very scary indeed.

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Belarusian police use stun grenades, pepper spray and fire shots to control Sunday's mass rallies

The violence at the Sunday mass rallies in Belarus went up yet another notch on September 27 when masked OMON officers used stun grenades against protesters, liberally doused the crowd with pepper stray and fired multiple shots into the air.

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Major fighting erupts between Armenia and Azerbaijan over Nagorno-Karabakh

Both sides accuse each other of starting clash. Russia calls for immediate ceasefire. Turkey pledges to stand by Azerbaijan.

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Mongolia’s wrestling culture: From the grasslands to the cage

“When you’re little, they make you wrestle sheep. When you get older you wrestle horses, and finally, you wrestle camels,” says one wrestler. Can country’s centuries-old wrestling tradition be translated to domination of professional MMA?

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Lukashenko has isolated himself from the rest of the world with a secret inauguration

Even former leader of the Soviet Union Mikhail Gorbachev has thrown his support behind the Belarusian population protesting against self-appointed President Alexander Lukashenko.

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Belarus IT specialists develop software to identify OMON officers wearing masks

Belarusian IT specialists based in Los Angeles have developed software that allows them to identify police and OMON riot police officers even if they are wearing a mask. Once identified, the officers' names are added to online blacklists.

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TURKEY INSIGHT: Surprise rate hike not actually a rate hike?

“It’s more of a ‘catch-up’” says one analyst. New benchmark rate of 10.25% still below average cost of funding.

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BUCHAREST BLOG: Investors dismayed by Romania's budget-busting 40% pensions hike

Incredulity greets MPs’ decision to vote through massive pension increase that would have put unbearable pressure on Romania’s finances even before the coronavirus pandemic.

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Viktor Orban opens new front with Brussels calling for resignation of EC Vice-President Vera Jourova

Turkey denies Turkish F-16 jet shot down Armenian plane over Armenia

Iran denies allowing passage of weapons into Armenia after video emerges on social media

Viktor Orban opens new front with Brussels calling for resignation of EC Vice-President Vera Jourova

Latest scuffle between Hungary and the EU comes as the European Commission prepares to publish its first report assessing the state of democracy and the rule of law in member states.

Turkey denies Turkish F-16 jet shot down Armenian plane over Armenia

Armenians claim incident in showdown with Azerbaijan over Nagorno-Karabakh occurred in its airspace.

Iran denies allowing passage of weapons into Armenia after video emerges on social media

Tehran officially neutral in Nagorno-Karabakh conflict but Iranians known to be unhappy at Azerbaijan’s relations with Israel and Saudi Arabia.

News

French President Macron promises Belarus’ opposition leader Tikhanovskaya to do all he can to help

In a show of solidarity with the people of Belarus, French President Emmanuel Macron met with Svetlana Tikhanovskaya, leader of the opposition and nominal winner of the disputed August 9 elections.

Nobel laureate and Coordinating Council member Svetlana Alexievich leaves Belarus for medical treatment in Germany

Belarusian Nobel literature laureate and member of the Coordinating Council Svetlana Alexievich left the country for a month’s medical treatment in Germany, AFP reported on September 28.

Turkish lira finds another all-time low with Erdogan’s Caucasus adventurism no help at all

Banking regulator takes another step to put a brake on massive lending that is worsening external imbalances. Rates are not high enough to attract carry-traders so the lira is set to further deteriorate, says one analyst.

Head of MS Estonia tragedy investigation says ship went down after collision with submarine

The sinking of MS Estonia was the deadliest maritime disaster to have occurred in European waters, killing 852 people from 17 countries.

Armenia accuses Turkey of sending in direct military support for Azerbaijan including F-16s

Fierce and bloody fighting centred on Nagorno-Karabakh enclave continues to rage. Baku denies Ankara has also commandeered Syrian militiamen to fight on its side.

French President Macron promises Belarus’ opposition leader Tikhanovskaya to do all he can to help

8 hours ago

Nobel laureate and Coordinating Council member Svetlana Alexievich leaves Belarus for medical treatment in Germany

16 hours ago

Turkish lira finds another all-time low with Erdogan’s Caucasus adventurism no help at all

1 day ago

Head of MS Estonia tragedy investigation says ship went down after collision with submarine

1 day ago

Armenia accuses Turkey of sending in direct military support for Azerbaijan including F-16s

1 day ago

More News

Tech

Latvian central bank says COVID-19 changed people's payment habits significantly

The share of non-cash payments in the total volume of payments is gradually increasing.

Swedish, Malaysian and French investors back Russian startups

Russian startup NaPopravku (“for cure”), an online service for medical appointments, has raised $2.25mn for further domestic expansion and mobile developments, reported industry publication Rusbase

Fort Ross Venture Capital fund aims to invest $100mn in Russia and Eastern Europe tech

Just weeks after The Untitled announced plans to launch a new venture fund for Russia and Eastern Europe, Fort Ross Ventures, another Russia-connected VC firm, shared news about a similar initiative

My.Games invests in Russian-founded studio Hypemasters

My.Games Venture Capital (MGVC), an investment firm affiliated to Mail.ru Group, and Aii Corporation, a Finnish VC firm, have teamed up to invest in a US-headquartered mobile games studio called Hypemasters

Swedish, Malaysian and French investors back Russian startups

Russian startup NaPopravku (“for cure”), an online service for medical appointments, has raised $2.25mn for further domestic expansion and mobile developments, reported industry publication Rusbase

Latvian central bank says COVID-19 changed people's payment habits significantly

5 days ago

Swedish, Malaysian and French investors back Russian startups

5 days ago

Fort Ross Venture Capital fund aims to invest $100mn in Russia and Eastern Europe tech

5 days ago

My.Games invests in Russian-founded studio Hypemasters

5 days ago

Swedish, Malaysian and French investors back Russian startups

5 days ago

More Tech

Opinion

TURKEY INSIGHT: Mystery on the bourse as traders ask "Who bought the banks?"

Finding some sure footing on the Turkish stock exchange is far easier said than done with officials up to no good with neverending perception management.

TURKEY INSIGHT: Moody’s warns of autumn peril

Ratings agency wary of possible moratorium on FX payments, capital controls and disorderly exchange rate adjustment. But isn’t this all too little, too late from its analysts? The warning signs have been there for years.

MITTELEUROPEAN INSIGHTS: Better $1.5bn from Russia or €1bn from the EU in the hand than $15-20bn in the bush?

The meeting between the heads of state of Belarus and Russia some 10 days ago in Sochi was a non-event. Russian President Vladimir Putin promised Belarusian President Alexander Lukashenko $1.5bn, but it is not enough. Belarus needs at least $20bn.

COMMENT: Ukraine’s the Old Rotten System is alive and well

In the nearly 18 months since Volodymyr Zelenskiy was inaugurated President of Ukraine, it has become increasingly clear that he, like all his predecessors, is willing to accept, and even support, the Old Rotten System.

STOLYPIN: Whatever is happening to Putin?

Something has changed, Russian president Vladimir Putin seem to have lost some of his finesse as his regime becomes more brutal and aggressive. Has he just been on the job too long?

TURKEY INSIGHT: Mystery on the bourse as traders ask "Who bought the banks?"

2 days ago

TURKEY INSIGHT: Moody’s warns of autumn peril

7 days ago

MITTELEUROPEAN INSIGHTS: Better $1.5bn from Russia or €1bn from the EU in the hand than $15-20bn in the bush?

7 days ago

COMMENT: Ukraine’s the Old Rotten System is alive and well

12 days ago

STOLYPIN: Whatever is happening to Putin?

15 days ago

More Opinion

Data

Russian corporate profits continue to recover, and caught up with 2019 earnings in July

Russian corporate profits are maintaining their recovery and on a cumulative basis continue to claw back ground lost in the second quarter during the worst of the coronacrisis. Monthly corporate profits were back at the same level they were in July.

Bulgaria ends summer tourism season with arrivals down 80%

The sector, which is a major contributor to the economy, was severely hit by the coronavirus pandemic.

Balkan route nations least tolerant of migration

Acceptance of migrants has declined globally, and the nations of the Western Balkans that bore the brunt of the 2015-2016 migration crisis are now the least tolerant in the world, a new Gallup poll shows.

Post-lockdown recovery of Poland’s industrial production falters in August

After dynamic production increases to meet pent up demand in May-July, the growth in industrial production in August was well below consensus.

Ukraine's statistics service confirms 11.4% GDP drop in Q2

The fall in the gross domestic product (GDP) of Ukraine in April-June 2020 amounted to 11.4% compared to the same period in 2019, the State Statistics Service said on September 18, confirming its preliminary assessment published in the middle of Augu

Russian corporate profits continue to recover, and caught up with 2019 earnings in July

9 hours ago

Bulgaria ends summer tourism season with arrivals down 80%

5 days ago

Balkan route nations least tolerant of migration

5 days ago

Post-lockdown recovery of Poland’s industrial production falters in August

8 days ago

Ukraine's statistics service confirms 11.4% GDP drop in Q2

11 days ago

More Data

Features

Turkmenistan: Everybody yurts, sometimes

In a rare nod to reality, Turkmenistan’s strongman hints at austerity.

Uzbekistan 2.0 reforms making good progress

Since he took over as president in late 2016, Shavkat Mirziyoyev has launched a comprehensive reform programme. Four years on and a lot of progress has been made, but there is still plenty of work left to do.

Capital forecasts 8 Turkish lira to dollar by year’s end

Updates previous expectation of 7.50. As fears mount of currency crisis, IIF notes “historically low non-resident holdings of lira-denominated assets—with only $20.9bn in stocks and $5.8bn in bonds remaining”.

The Kremlin is hiking taxes for the first time in twenty years

the Kremlin has approved a new budget that will greatly increase spending but has also used the cover of the coronacrisis to hike a variety of taxes, many for the first time.

International bond investors are selling off local EM debt in all but the best markets

Emerging markets capital markets have been through a revolution in the last decade, but the coronavirus pandemic and rising political and economic risks in some markets have seen these investors turn tail and flee.

Turkmenistan: Everybody yurts, sometimes

4 days ago

Uzbekistan 2.0 reforms making good progress

6 days ago

Capital forecasts 8 Turkish lira to dollar by year’s end

6 days ago

The Kremlin is hiking taxes for the first time in twenty years

8 days ago

International bond investors are selling off local EM debt in all but the best markets

9 days ago

More Features

Blogs

BRICKS & MORTAR: The office isn’t dead but it is evolving

The coronavirus pandemic has had a seismic effect on the real estate sector, and the office segment is no exception.

BALKAN BLOG: What to expect from Montenegro’s first new government in three decades

As a hodgepodge of small parties up against an administration where the recently ousted DPS is deeply entrenched, Montenegro’s new government will struggle to achieve much. But the change of government in itself gives hope for the future.

BALKAN BLOG: Why politics must be tackled before the economy

There has already been follow-through on the US’ commitment to help finance infrastructure between Serbia and Kosovo, but the long-standing conflict can’t be solved by boosting economic ties.

BEYOND THE BOSPORUS: The Borsa Istanbul, part II. Think thrice

Latest data shows foreign investors continuing to exit Turkey’s stock exchange. Regulators, meanwhile, have broken up the trading party in football club shares. And officials keep trying to squeeze dubious market lifts out of Ankara’s gas discovery.

BEYOND THE BOSPORUS: The Borsa Istanbul. Don’t go there without a jaundiced eye

Foreigners have fled the market. But, despite the Turkish lira carnage, an ‘invisible hand’ keeps the main index above the 1,000 threshold. Tread carefully, or better still, don’t tread at all.

BRICKS & MORTAR: The office isn’t dead but it is evolving

13 hours ago

BALKAN BLOG: What to expect from Montenegro’s first new government in three decades

8 days ago

BALKAN BLOG: Why politics must be tackled before the economy

11 days ago

BEYOND THE BOSPORUS: The Borsa Istanbul, part II. Think thrice

18 days ago

BEYOND THE BOSPORUS: The Borsa Istanbul. Don’t go there without a jaundiced eye

20 days ago

More Blogs

Latest Updates

News

In a show of solidarity with the people of Belarus, French President Emmanuel Macron met with Svetlana Tikhanovskaya, leader of the opposition and nominal winner of the disputed August 9 elections.

Belarusian Nobel literature laureate and member of the Coordinating Council Svetlana Alexievich left the country for a month’s medical treatment in Germany, AFP reported on September 28.

Banking regulator takes another step to put a brake on massive lending that is worsening external imbalances. Rates are not high enough to attract carry-traders so the lira is set to further deteriorate, says one analyst.

The sinking of MS Estonia was the deadliest maritime disaster to have occurred in European waters, killing 852 people from 17 countries.

Fierce and bloody fighting centred on Nagorno-Karabakh enclave continues to rage. Baku denies Ankara has also commandeered Syrian militiamen to fight on its side.

Tech

The share of non-cash payments in the total volume of payments is gradually increasing.

Russian startup NaPopravku (“for cure”), an online service for medical appointments, has raised $2.25mn for further domestic expansion and mobile developments, reported industry publication Rusbase

Just weeks after The Untitled announced plans to launch a new venture fund for Russia and Eastern Europe, Fort Ross Ventures, another Russia-connected VC firm, shared news about a similar initiative

My.Games Venture Capital (MGVC), an investment firm affiliated to Mail.ru Group, and Aii Corporation, a Finnish VC firm, have teamed up to invest in a US-headquartered mobile games studio called Hypemasters

Russian startup NaPopravku (“for cure”), an online service for medical appointments, has raised $2.25mn for further domestic expansion and mobile developments, reported industry publication Rusbase

Opinion

Finding some sure footing on the Turkish stock exchange is far easier said than done with officials up to no good with neverending perception management.

Ratings agency wary of possible moratorium on FX payments, capital controls and disorderly exchange rate adjustment. But isn’t this all too little, too late from its analysts? The warning signs have been there for years.

The meeting between the heads of state of Belarus and Russia some 10 days ago in Sochi was a non-event. Russian President Vladimir Putin promised Belarusian President Alexander Lukashenko $1.5bn, but it is not enough. Belarus needs at least $20bn.

In the nearly 18 months since Volodymyr Zelenskiy was inaugurated President of Ukraine, it has become increasingly clear that he, like all his predecessors, is willing to accept, and even support, the Old Rotten System.

Something has changed, Russian president Vladimir Putin seem to have lost some of his finesse as his regime becomes more brutal and aggressive. Has he just been on the job too long?

Data

Russian corporate profits are maintaining their recovery and on a cumulative basis continue to claw back ground lost in the second quarter during the worst of the coronacrisis. Monthly corporate profits were back at the same level they were in July.

The sector, which is a major contributor to the economy, was severely hit by the coronavirus pandemic.

Acceptance of migrants has declined globally, and the nations of the Western Balkans that bore the brunt of the 2015-2016 migration crisis are now the least tolerant in the world, a new Gallup poll shows.

After dynamic production increases to meet pent up demand in May-July, the growth in industrial production in August was well below consensus.

The fall in the gross domestic product (GDP) of Ukraine in April-June 2020 amounted to 11.4% compared to the same period in 2019, the State Statistics Service said on September 18, confirming its preliminary assessment published in the middle of Augu

Features

In a rare nod to reality, Turkmenistan’s strongman hints at austerity.

Since he took over as president in late 2016, Shavkat Mirziyoyev has launched a comprehensive reform programme. Four years on and a lot of progress has been made, but there is still plenty of work left to do.

Updates previous expectation of 7.50. As fears mount of currency crisis, IIF notes “historically low non-resident holdings of lira-denominated assets—with only $20.9bn in stocks and $5.8bn in bonds remaining”.

the Kremlin has approved a new budget that will greatly increase spending but has also used the cover of the coronacrisis to hike a variety of taxes, many for the first time.

Emerging markets capital markets have been through a revolution in the last decade, but the coronavirus pandemic and rising political and economic risks in some markets have seen these investors turn tail and flee.

Blogs

The coronavirus pandemic has had a seismic effect on the real estate sector, and the office segment is no exception.

As a hodgepodge of small parties up against an administration where the recently ousted DPS is deeply entrenched, Montenegro’s new government will struggle to achieve much. But the change of government in itself gives hope for the future.

There has already been follow-through on the US’ commitment to help finance infrastructure between Serbia and Kosovo, but the long-standing conflict can’t be solved by boosting economic ties.

Latest data shows foreign investors continuing to exit Turkey’s stock exchange. Regulators, meanwhile, have broken up the trading party in football club shares. And officials keep trying to squeeze dubious market lifts out of Ankara’s gas discovery.

Foreigners have fled the market. But, despite the Turkish lira carnage, an ‘invisible hand’ keeps the main index above the 1,000 threshold. Tread carefully, or better still, don’t tread at all.

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The political crisis in Belarus has reached a new stage. The protestors have taken control of the streets, withstood a brutal crac....

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