All posts by Jerry Cameron

Banca Transilvania Concludes Moldovan Deal

banca transilvania

Banca Transilvania, Romania’s second-largest bank, has finalised the purchase of a 39 per cent stake in Moldova’s third-largest lender Victoriabank. It is the first time since 2007 that a foreign bank has entered the Moldovan retail market as an investor. The deal makes Banca Transilvania the single largest largest shareholder in Victoriabank, which together with the European Bank of Reconstruction and Development (EBRD), a minority shareholder, now jointly hold a controlling stake of 66.7 per cent in the Moldovan bank. The pair will now offer to buy the remaining shares.

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Japanese PM Announces Western Balkans EU Initiative

TOKYO JAPAN - Apr 06 2016: Japanese Prime Minister Shinzo Abe during his meeting with President of Ukraine Petro Poroshenko in Tokyo

Japanese Prime Minister Shinzo Abe continued a six-day visit to the Baltics and the Western Balkans with a stop in Sofia on January 14, where he met with his Bulgarian counterpart Boyko Borisov. The two men agreed to to continue working towards the early implementation of the Japan-EU free trade agreement. Bulgaria took over the rotating six-month presidency of the European Council on January 1.

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HSBC Opens Warsaw China Desk

HSBC –  the world’s seventh largest bank by total assets and the largest in Europe – announced on January 4 that it is to launch a business desk in Poland, to facilitate trade and investment flows between China and the growing economies of Central and Eastern Europe (CEE). The bank’s new Warsaw China Desk will focus, in particular, on Poland, the Czech Republic, Slovakia, Hungary and Romania, which together have attracted the bulk of China’s investment in the region. The move comes as bilateral trade between China and the region grew to nearly 59 billion US dollars in 2016, up 4.3 per cent year-on-year.

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New Start-Up and Innovation Report Names Estonia and Slovenia as Market Leaders

Tallin, Estonia - July 06,2017: Scenic view of the modern part of the city of Tallin, Estonia

Local innovation has progressed in a spectacular way over the past decade throughout Emerging Europe, although there are still countries – in particular Albania, Azerbaijan, Bosnia and Herzegovina, Moldova, Montenegro and Serbia – which lag behind. That is one the key findings of a major new report looking at start-up innovation and investment in Emerging Europe published by East-West Digital News (EWDN) in December 2017.

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China Eyes Moldovan Trade Agreement

CRICOVA MOLDOVA July 24 2017 :Underground wine cellar with collection of bottles in niches. Winery with 120 km of underground passages for wine storage

China and Moldova have formally agreed to begin talks on the establishment of a free-trade deal. Officials from the two countries signed an agreement in Beijing on December 29 following the completion in May of a six-month joint feasibility study. Its results recommended that establishing a free-trade deal would be conducive to deepening bilateral ties, tapping the potential of economic and trade cooperation, and promoting economic development in both countries. Moldova lies on the One Belt One Road/New Silk Road route and is potentially an important Eurasian trade partner for China. In 2014 it signed an Association Agreement with the EU.

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Estonia Posts EU’s Highest Inflation Rate in November

Rising food and grocery store prices is estonia and cost of living concept. Man counting food and consumer goods money with pen, paper and calculator at home. Budget of disadvantaged and low income family.

Annual inflation in the European Union was 1.8 per cent in November 2017, up from 1.7 per cent in October 2017. Inflation in the Euro Area also rose, from 1.4 per cent to 1.5 per cent. Estonia had the highest inflation rate in the EU, at 4.5 per cent, followed by Lithuania where inflation climbed to 4.2 per cent. The highest monthly increase was registered in Romania, where prices jumped 0.6 per cent on October to give an annual rate of 2.7 per cent. The data comes from Eurostat.

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