By Eric Kraus, author of the Truth and Beauty (and Russian Finance). The good news is that we have a ringside seat for the decline of the West… the bad news – we are inside the ring! The miserable thing about being a seer is that when you get it right – no one remembers… Continue Reading
Tag Archives: Central Eastern Europe
UKRAINE COMMENT: Muted response by markets to Tymoshenko sentence
Arthur McCallum Arthur McCallum, Head of Strategy at Eavex Capital. The October 11 sentencing of Yulia Tymoshenko to seven years in jail and a fine of UAH 1.5bn (USD 188mn) for abuse of power has caused quite a stir internationally. We maintain our view that the escalation of the Tymoshenko situation is a reflection of… Continue Reading
BRIC exchanges join up the dots for alliance
By Marcus Williams. The exchanges of the emerging markets bloc of Brazil, Russia, India and China are forming an alliance to help deepen their liquidity and offer investors pooled exposure to their markets. This initiative was announced at the 51st AGM of the World Federation of Exchanges (WFE) in Johannesburg yesterday. The initiative brings together… Continue Reading
Russia to bail out debt-ridden European countries?
By Marcus Williams. Russia may rescue Europe from its debt crisis provided it sees a concrete rescue plan from the continent’s partners, President Dmitry Medvedev’s economic aide said yesterday. Former finance minister Alexei Kudrin and Foreign Minister Sergei Lavrov discussed the issue of debt with Spanish Finance Minister Elena Salgado, according to the aide Arkady… Continue Reading
Sberbank may bid for European lender’s Turkish subsidiary
By Andrei Skvarsky. Russia’s Sberbank is considering bidding for DenizBank, a Turkish lender owned by troubled European bank Dexia. Dexia, a Brussels-headquartered bank anticipating what would be a second state bailout in the past few years, has its foreign assets up for sale. “It is clear that Turkey is very much in… Continue Reading
Mid Europa boosts stake in solar power operator to 95%
By Andrei Skvarsky. The Mid Europa Partners private equity firm has announced it has boosted its stake in Energy 21, the region’s biggest solar power plant operator, to 95%. Mid Europa, the largest private equity firm focused on Central and Eastern Europe, manages funds worth about 3.2bn euros. An independent firm headquartered in London, it also… Continue Reading
East Capital Explorer names Mia Jurke as CEO
Swedish investment company East Capital Explorer has appointed Mia Jurke as its new chief executive. Jurke joins East Capital Explorer to replace Gert Tiivas who joins the Swedish firms private equity business in the Baltic countries. Peter Elam Håkansson, chairman of East Capital, said: “East Capital is the investment manager of East Capital Explorer. The… Continue Reading
Danish bank Saxo opens shop in Moscow as others retrench
By Marcus Williams. Danish investment Saxo Bank is opening a new representative office in Moscow just as existing players are cutting staff in the Russian capital. Saxo, an online trading and investment specialist, said the opening is a strategic move “to strengthen and expand its position as a leading provider of online trading and investment… Continue Reading
Renaissance parts company with two senior managers
By Andrei Skvarsky. Russia’s Renaissance Group has parted company with Ashar Qureshi, head of its fund management business, and Yury Gruzglin, global head of fixed income, currencies and commodities. Qureshi combined his role as chief executive of Renaissance Asset Management with the position of vice chairman of Renaissance Group. Qureshi joined the group in February… Continue Reading
Raiffeisen names replacement for Russia head Pavel Gurin
By Ivan Anderzhanov. Austria’s Raiffeisen has named Sergey Monin as head of its Russian operation to replace Pavel Gurin who passed away last month after a long and brave fight with cancer. Monin, up to now the deputy chairman of Raiffeisenbank’s managing board, has been acting chairman for several months. Moscow-born Monin joined Raiffeisenbank in… Continue Reading
RenCap hires economist for Turkey, Eastern European countries, Egypt
By Andrei Skvarsky. Russian broker Renaissance Capital has hired Mert Yildiz from Kuwait China Investment Company as economist for Turkey, the Czech Republic, Hungary, Poland and Egypt. Yildiz, who will be based in London, worked as an economist at the Istanbul operation of Dutch bank ING before joining Kuwait China Investment Company, RenCap said in a statement. Continue Reading
Bank of Georgia seeking premium London listing
By Andrei Skvarsky. Bank of Georgia is seeking a premium London Stock Exchange listing, which would open the former Soviet republic’s number one lender to a much broader range of investors. The firm plans to reincorporate as a UK holding company, to be called Newco. It will then come up with a proposal in the… Continue Reading