Years of consumption-fuelled growth have left Central European states with large retail sectors that are now facing a coronavirus-related slump. It’s set to get even worse once the initial urge to stockpile wears off.
Economy forecast to shrink by 0.9%.
Economically besieged Islamic Republic’s year looks set to hinge on whether tormentor-in-chief is re-elected.
From enabling their employees to work from home to offering new e-commerce services, companies in Central and Southeast Europe are moving their operations online in response to the coronavirus pandemic and associated lockdowns.
Officials do not explain why they are imposing such stringent internal restrictions if Turkmenistan is, as they insist, genuinely coronavirus-free.
With the predominance of oil and gas in Russia’s economy the pipe-making business is a big one. ChelPipe is the market leader and is now considering an IPO.
Finance minister accused of just “dropping in from outer space” for sticking to his targets. Lira continues to crumble as analysts slash growth forecasts.
Tech startup Eligma has already popularised cryptocurrency payments in Slovenia. Now the company is keeping its operations going to enable contactless payments for groceries and other essentials.
Russia’s economy will contract by 1% in 2020, according to the latest forecast by the widely respected Bank of Finland Institute for Economies in Transition (BOFIT).
Coronavirus is now established in Ukraine, but the epidemic there has only just got underway. Following a major economic crisis in 2014 how well prepared is Ukraine to absorb the economic shock that is clearly on the way?
Is Russia’s banking sector in danger of another crisis due to the double whammy of the oil price collapse and coronavirus shocks?
Convergence to be reversed as the economic crisis resulting from the coronavirus pandemic is set to be deeper and longer in the CIS, Ukraine, Turkey and the Western Balkans than in the EU member states of Central and Southeast Europe.
As Moldova's biggest wine exporter Purcari Wineries expands into markets in Central Europe and beyond, it faces a landscape impacted by the coronavirus epidemic, climate change and the East-West standoff in the region.
Markets are in turmoil following yet another oil shock to the Russian economy. But Russia has made enormous progress since the last time oil prices collapsed in 2014.
Emerging market bond funds suffering “disastrous” performance numbers. Fear of redemptions and forced selling. EM sovereign dollar bond spreads wider by 50-100bp since start of month.
Country’s budget based on oil at $50-$55 per barrel compared to $31 caused by failure of OPEC+ talks. Situation could eat up government reserves. Some Kazakhs enter into panic buying of dollars. Central bank hikes key rate 275bp.
Since President Shavkat Mirziyoyev launched the Uzbekistan 2.0 reforms, the banking landscape is starting to change drastically.
The value of the Russia ruble plummeted in the evening of March 8 as trading began, following the price of oil into the chasm created by an oil price war that has broken out between Russia and Saudi Arabia.
Europe wants to be carbon neutral by 2050, and is about to introduce a carbon import duty that is already forcing Russia’s biggest companies to speed up their efforts to go green.