Baltic States
CESEE banks expect credit conditions to tighten and NPLs to rise
With most COVID-19-related support measures having been phased out, borrowers are now being put under pressure by surging inflation and sharply rising interest rates.
Latvia revokes Russian opposition TV station Dozhd’s broadcasting licence
Following an on-air gaffe, Latvia's National Electronic Media Council (NEPLP) has cancelled Dozhd's (Rain's) licence for threatening national security.
Foreign investment has transformed Eastern Europe, says wiiw report
Foreign investment will continue to have a vital role to play in the region’s development, particularly now that international companies are rethinking their supply chains.
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bneGREEN: EU energy ministers agree to speed up permitting and deployment of renewables temporarily
A final decision – formal approval – on the new regulation may occur at another emergency meeting on December 13.
bneGREEN: ING: Euro sustainable bond supply set to stagnate in 2023
Euro sustainable bond issuance in 2023 is not likely to repeat the growth rates seen in the last few years. While governments and agencies could slightly accelerate ESG issuance in 2023, financial institutions' ESG bond supply will lose some steam.
Ukraine faces one of worst declines in GDP from a war, says EBRD
The contraction in Ukraine’s GDP will be among the worst 10-20% of those in conflicts in the last 200 years, the development bank predicts in its 2022/23 Transition Report.
EBRD warns of risk of 'zombification'
Development bank recommends countries should now gradually dial down help to vulnerable companies, so they can either learn to adapt to the new climate of higher interest rates or exit the market by going into insolvency.
Private equity poised for growth surge in CEE despite macro and geopolitical crises
Fund managers surveyed by Bain & Company point to region’s strong macroeconomic fundamentals and catch-up potential.
Europe scrambles in response to reported Russian military strike on Poland
Instant storm of reaction after two Russian missiles were reported to have gone off course over Ukraine and hit a Polish village, killing two people. It was later reported that they were in fact Ukrainian missiles.
bneGREEN: REPowerEU rules still leave loopholes for gas investment
The European Parliament has approved temporary emergency regulations to accelerate the deployment of renewable energy across the EU, but gas investment is still allowed
Lithuanian businessman and Lukashenko associate made billions through oil export scheme, according to investigation
Yury Chyzh and his Lithuanian partner Vitold Tomasevskij are reported to have transferred billions of dollars out of Belarus that they had allegedly made thanks to preferential access to cheap petroleum.
Belarus Corruption Watch: How two businessmen made billions from the “solvents scheme”
In their latest investigation, the Belarusian Investigative Centre has detailed, with the help of the Cyber Partisans, Chyzh’s and Tomaševsky’s joint business schemes since the earlier 2000s and found out how they’ve spent their fortunes.
Latvia becomes first EU country to enter recession
Compared to the second quarter of 2022, GDP fell by 1.7%, while y/y the economy contracted by 0.6%.
Lithuania divided over Ukraine's request for air defence systems
Defence chief says giving Ukraine howitzers and air defence systems would erode Lithuania’s own military capabilities.
EU gas prices tumble in lull before the storm
Gas prices have been falling fast in the last few weeks as EU storage tanks are nearly full.
Swedbank maintains Lithuania's GDP forecasts, slashes Estonia’s 2023 forecast to zero
Economic contraction is forecast for the second half of this year and the first half of 2023 in the Baltic states.
IMF increases global inflation outlook in 2022 to 9.9%
The International Monetary Fund has said that it expects inflation pressures to be significant around the world in 2022. Inflation is predicted to be worse in developing economies, where price increases are projected to reach 9.9% on average.
Emerging Europe is growing faster than expected this year but will stagnate in 2023, says wiiw
For 2023 the wiiw has revised its forecasts down, and overall Emerging Europe growth will average just 0.3%, barely above the 0.2% predicted for the Eurozone.
bneGREEN Siemens Gamesa calls for quotas on EU-made wind turbines
Siemens Gamesa, the leading wind-turbine manufacturer, has called for a quota system on the amount of EU-produced turbines installed in the trade bloc, reports the Financial Times.
bneGREEN: “Overriding public interest” essential to renewables in the EU: WindEurope
The EU wants a massive expansion in renewable energy. It wants wind energy to grow from 190 GW today to 510 GW by 2030. But Europe is not building enough wind farms to reach this target, says WindEurope.
