Central & Eastern Europe

MILESTONES: EUROPE
African success story M-Pesa dials up Europe.

DEAR READER
The return of growth in most of Europe and the renewed leadership of the US in economic advancement should not distract from critical developments in some of the major emerging economies.

MILESTONES: RUSSIA

The region battled continuing recession or, at best, slow growth, a tightening regulatory environment and country-specific banking taxes or fines for past misdemeanors.

Mergers and acquisitions involving Russian companies, including Morgan Stanley’s planned sale of its global oil-trading unit to Rosneft, are threatened by Western sanctions on Moscow over the Ukraine crisis.

Although hit hard by the global financial crisis, Latvia, Lithuania and Estonia recovered quickly. The three countries are building ever-closer EU ties to separate themselves economically from Eastern neighbors.

An escalation of sanctions on Russia stemming from its actions in Ukraine could pressure Russia’s overall economic growth. Some companies, particularly those perceived to have close ties to president Vladimir Putin and his inner circle, may have difficulties tapping the international capital markets for funding.

Financial markets may initially have reacted well to the reelection of the AKP and prime minister Recep Tayyip Erdoğan, but his success belies deep-seated political and economic problems.

Inflation in the eurozone slipped to 0.5% at an annual rate in March, its lowest level since 2009. The persistence of low inflation prompted policymakers to discuss quantitative easing (QE) and a negative deposit rate, putting some downward pressure on the euro.

Slovakia has known rapid and unexpected changes in its political fortune in its 20 years as an independent country.

In our 21st annual survey, Global Finance identifies the best banks in 150 countries and eight regions. The winners are not always the biggest banks, but rather, the best—those with the qualities that corporations should look for when choosing a bank.

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GOLD STANDARD By Rebecca Brace and Anita Hawser Global Finance presents the winners of its annual Best Treasury & Cash Management Providers awards. Global multinational corporates may have come out of the 2008 global financial crisis better off than the ...

REGIONAL FOCUS
​The countries of the Caucasus region (Azerbaijan, Armenia and Georgia) continue to march down very different economic paths, despite their proximity and sociocultural connections.

CORPORATE FINANCING NEWS By Gordon Platt China and Russia have returned to the global equity capital markets, following a lengthy absence. China led in the number of capital raisings using depositary receipts last year, with 14 of the 51 transactions ...

STAR PERFORMERS By Anita Hawser Over the past six years transaction banking has been one of the best performers in an otherwise lackluster banking sector. Even in the midst of a global financial crisis, suppliers and salaries still need to ...

Faraways / Shutterstock.com Demonstrators have been out on the streets of Istanbul and Ankara yet again, keeping Turkey's riot police busy. The cause this time was the draconian curbs the government wants to impose on the Internet. These will enable ...