Russia`s Pivot or Pirouette to the East? A reality check

Russia`s Pivot or Pirouette to the East? A reality check

Thus Russia`s pivot to the East is unlikely to constitute the strategic coup that President Putin presented to the audience. In fact, it may well have been more directed at reassur ...

Transneft: Russian state-owned pipeline behemoth or ad hoc investment fund?

Transneft: Russian state-owned pipeline behemoth or ad hoc investment fund?

In particular, the changes in investments seem to reflect decisions made on high and on an ad hoc basis. Transneft is becoming involved less in its own business activity than as a ...

Modern Day Kremlin watching: back to the future

Modern Day Kremlin watching: back to the future

The national interest is thus replaced by money interests. This makes today`s Kremlin watching difficult as not all the various economic interests are obvious – some are hidden and ...

Promoting ”Family Values” in Baku: Swedish telecom company TeliaSonera’s alleged involvement in another corruption scandal

Promoting ”Family Values” in Baku: Swedish telecom company TeliaSonera’s alleged involvement in another corruption scandal

In the Azerbaijan instance, it is alleged that TeliaSonera financed and aided the Azeri President's family in taking over the state's stake in Azerbaijan's largest telecoms company ...

A Roof over the Arches: McDonald’s revise their business development strategy in Russia

A Roof over the Arches: McDonald’s revise their business development strategy in Russia

McDonald`s was forced to temporarily close about 40 percent of its food outlets. While the outlets have reopened, the company has been the subject of about 100 court cases arising ...

Not banking on them: Russian state-owned VTB Bank posts questionable results for the 1H 2015

Not banking on them: Russian state-owned VTB Bank posts questionable results for the 1H 2015

A key aspect here is that the IMF believed that the damage wreaked to the economy by a combination of a 46-percent slide in the rouble, high interest rates that went as far as 17 p ...

Belarus: How black/grey schemes make good GDP growth

Belarus: How black/grey schemes make good GDP growth

Anyone who remembers “The Godfather” by Mario Puzo will remember the inscription at the start, citing Balzac: “Behind every great fortune, lies a great crime.” But what of a nation ...

Russia`s Pivot or Pirouette to the East? A reality check

Thus Russia`s pivot to the East is unlikely to constitute the strategic coup that President Putin presented to the audience. In fact, it may well have been more directed at reassuring a domestic audience that Russia has options aside from the west. If so, Russia`s geopolitics may yet encounter reality in terms of hard economic truths. ...

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Transneft: Russian state-owned pipeline behemoth or ad hoc investment fund?

In particular, the changes in investments seem to reflect decisions made on high and on an ad hoc basis. Transneft is becoming involved less in its own business activity than as a state means of supporting the market elsewhere for Russian corporate and even municipal bonds. It is becoming a state investment vehicle “of last resort” and it may yet end up becoming hostage less to the fall in oil prices than t ...

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Modern Day Kremlin watching: back to the future

The national interest is thus replaced by money interests. This makes today`s Kremlin watching difficult as not all the various economic interests are obvious – some are hidden and some players have multiple conflicting interests, both economic and political. A return to Kremlin watching should not be grounds for misplaced optimism of so called hardliners being sidelined. Instead a closer look at “following ...

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Promoting ”Family Values” in Baku: Swedish telecom company TeliaSonera’s alleged involvement in another corruption scandal

In the Azerbaijan instance, it is alleged that TeliaSonera financed and aided the Azeri President's family in taking over the state's stake in Azerbaijan's largest telecoms company and received preferential treatment in return. According to TeliaSonera`s website, after the oil sector, the telecommunication industry is the largest in Azerbaijan. ...

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Not banking on them: Russian state-owned VTB Bank posts questionable results for the 1H 2015

A key aspect here is that the IMF believed that the damage wreaked to the economy by a combination of a 46-percent slide in the rouble, high interest rates that went as far as 17 percent, falling oil prices, capital flight, high rates of inflation and sanctions, on top of an economy that barely grew during 2014, would assuredly lead to non-performing loans rising than more than 1.5 percent – a lot higher. ...

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Belarus: Problems with the Neighbour

First of all, Belarus, contrary to some perceptions, is one of the world`s most open countries by trade with total of imports and exports of the order of 140 percent of its GDP. However, Russia is both its main importer (59 percent of imports) and leading export market (35 percent of total exports). ...

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Russian banking: up to its ears in arrears

The release of the Russian second quarter GDP figures showing a 4.4 percent decline were enough of a surprise to those who had not expected quite so dramatic a fall, but a closer look at Russia`s financial sector would tend to reinforce perceptions that the country might be headed for a far deeper recession than has so far been forecast. ...

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Russia and Ukraine: That Reichenbach falls moment?

The town of Reichenbach and the falls are known the world over as the setting for a fictional event: it is the location where Sir Arthur Conan Doyle's hero, Sherlock Holmes, fights to the death with Professor Moriarty, at the end of The Final Problem, first published in 1893. For reasons of balance, let us avoid saying which of the countries above represents Holmes and which Moriarty but Russia and Ukraine ...

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The Russian economy in the 2Q 2015

Russian economy contracted by 4.6 percent in the second quarter compared to the same period last year and more than double the 2.2 percent contraction recorded in the previous quarter, which is the largest drop in six years and were viewed as worse than expected, according to estimates provided by the Federal Statistics Office on August 10. ...

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New US sanctions in force

Notwithstanding “arm in arm” photo opps of John Kerry, US Secretary of State, and Russian Foreign Minister Sergey Lavrov, following the Iran “nuclear deal,” the fact remains that the Crimea annexation and the (largely currently unreported) ongoing Russia-Ukraine conflict are still “unfinished business” as far as the US is concerned. ...

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How aggressive are Polish police?

The Polish Ministry of Internal Affairs (MSW) just announced a public tender for carrying out an audit among police officers to measure violence displayed by Polish police officers against citizens. ...

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Polish labor inspectorate’s name used to scam business owners

“Any attempts to extort money in exchange for services, deeds, certificates or PIP’s published materials are fraudulent and ought to be reported to law enforcement agencies,” Danuta Rutkowska, spokesperson of the Chief Labour Inspectorate (GIF), told the press. Rutkowska also stated that the PIP does not provide paid OHS seminars and does not charge for issuing certificates. ...

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Croatia’s Constitutional Court cancels ex-PM Ivo S. bribery convictions and orders retrial

The Constitutional Court of Croatia has overturned and ordered a retrial of two final bribery convictions against former Prime Minister Ivo S., who was sentenced to eight-and-a-half years in prison for accepting a bribe from Austria’s Hypo Bank in mid-1990s and for taking a kickback from the Hungarian oil group MOL in 2008 in exchange for allowing it to take management role in Croatia’s biggest oil firm INA ...

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Bouncing the banks

the jitters and peeps we’ve heard lately suggest that some Polish banks (and not only) are being hit again and again by hackers. Or at least their customers are. Scams run from hackers sending out viruses to clients, which include cleverly done web pages that request password changes and information to more advanced techniques that hack telephones (and thus gain passwords) to even door-to-door “repairman” w ...

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Croatian Supreme Court to deal with Fimi Media case involving former Croatian PM Ivo S. and political party HDZ in late September

The Supreme Court of Croatia is to deal in September with appeals submitted by former Croatian Prime Minister Ivo S. and the Croatian Democratic Union (‘HDZ’) political party in the so-called Fimi Media case, in which both were found guilty of stealing money from the state through Fimi Media marketing agency. ...

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It is easier (and cheaper) to prevent, than to repair – Polish edition of the ICC Antitrust Compliance Toolkit has been launched

The Polish edition of the ICC (International Chamber of Commerce) Antitrust Compliance Toolkit, dedicated to SMEs and larger companies, was launched on 9th June 2015, at the conference held at the Office of Competition and Consumer Protection in Warsaw. The aim of the toolkit is to build an awareness of antitrust and competition law among entrepreneurs, as well as to encourage them to introduce compliance p ...

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