By Ben Aris in Berlin Widely seen as a marriage of convenience, economic ties between Russia and China are rapidly deepening as the two countries are driven together by pressure from the West. As Nato foreign ministers gathered in Bucharest to show sol…
Eagle Hills launches $2.5bn superyacht port project in Albania despite fierce opposition
By bne IntelliNews UAE-based international property developer Eagle Hills has launched a project to built the largest-ever superyacht marina in the Mediterranean at Albania’s port city Durres. The project was launched on November 29, Albania’s Liberati…
Kazakh authorities threaten to nationalise energy firms over ongoing blackouts
By bne IntelliNews The Kazakh authorities warned on November 28 that Astana could nationalise struggling energy firms following a blackout caused by an accident at a power plant in northern Kazakhstan that left thousands without electricity amid freezi…
PANNIER: Might Tokayev be the real deal?
By Bruce Pannier On November 26, Kassym-Jomart Tokayev took the oath of office after being re-elected in Kazakhstan’s November 20 snap presidential election. Tokayev declared, “The large-scale reforms initiated by us have laid the foundation for fundam…
Mongolia to channel natural resource riches into sovereign wealth fund
By Michael Kohn in Ulaanbaatar Deep below Mongolia’s vast territory lie billions of dollars worth of coal, copper, gold and other minerals. How to ensure these natural riches are spent wisely and saved for the future has long been debated in the countr…
Turkish central bank says it’s ended rate-cutting cycle with 150 bp reduction to 9%
By Akin Nazli in Belgrade The Turkish central bank’s monetary policy committee (MPC) on November 24 cut its policy rate by another 150 bp to 9% (chart). The policy rate was now adequate and the rate-cutting cycle that started in August, bringing 500 bp…
bneGREEN: ING: Euro sustainable bond supply set to stagnate in 2023
By Nadège Tillier is Head of Corporates Sector Strategy at ING 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, fi…
Fast food fans fear McDonald’s has left Kazakhstan
By Kanat Shaku in Almaty The Kazakh franchisee of US fast food giant McDonald’s, Food Solutions KZ, has suspended the operation of all its restaurants ‘due to restricted local supplies’. Kazakhstan’s 24 McDonald’s restaurants were shuttered on November…
Tokayev sweeps to victory in Kazakh election with only lightweight opposition
By bne IntelIiNews Kazakh President Kassym-Jomart Tokayev has secured a second term in a snap election. The official preliminary result gave him 81.3% of the vote, but almost all critics were agreed that no substantial candidates were allowed to stand …
Nigeria’s shady seizure of oil vessel casts doubts over country’s anti-piracy laws
By Marco Cacciati in Berlin An international oil tanker and its crew remain in the custody of the Nigerian authorities, after they were arrested more than three months ago in unclear circumstances. Nigeria is reportedly about to prosecute everyone on b…