Section: Emerging Europe (UK)
Estonia Prepares Investment Drive
Estonia has seen rapid economic growth in recent years, which has led to the government having to revise and develop a more balanced budget. “Estonia’s economic growth has been faster than previously forecast, which in turn requires a more balanced budget policy,” said Estonia’s Prime Minister Jüri Ratas. “For the next four years we...
Outside the Box: How Non-Profits and NGOs Reshape the Ukrainian Tech Scene
During a recent expert discussion around EWDN’s CEE startup and VC research, I asked Yuliya Sychikova, Associate with AVentures Capital, what has changed in the Ukrainian tech startup ecosystem. More and more young millennial entrepreneurs are launching their own product companies instead of working for someone else in software outsourcing...
Billa to Open 10 New Stores in Bulgaria
Austrian supermarket chain Billa, which already employs 4500 people in Bulgaria, plans to open between eight and ten new stores in three cities – Sofia, Plovdiv and Varna. This move is expected to raise revenue by 9-10 per cent and create between 320 and 450 new jobs, with every new store employing approximately 40-50 people. Boyko Sachanski –...
IFC & Germany to Boost Ukrainian Energy Efficiency
IFC – a member of the World Bank Group, the European Union, and Germany signed agreements on April 23 to support the Ukrainian government’s work in reducing energy waste and greenhouse gas emissions in the residential sector. Under the agreements, the IFC will initially manage up to 53 million euros of funding from the EU (43 million euros)...
Economic Recovery in Belarus Accelerates
The speed of economic recovery in Belarus has accelerated in early 2018, but the foundations for solid growth need to be strengthened, says the latest World Bank Economic Update on Belarus. The economic outlook remains challenging due to external financing needs and unaddressed domestic structural bottlenecks. Improved household consumption and...
Bulgaria’s Euroins Buys ERV Ukraine
The Bulgarian Euroins Insurance Group (EIG), one of the largest independent insurance groups in emerging Europe, announced on April 17 that it has bought ERV Ukraine, the travel insurance business of Germany-based ERGO, part of Munich-Re. With purchase agreements signed, the deal is expected to be finalised once regulatory approval has been...
Ukraine: Maintaining the Momentum
Ukraine is Europe’s largest state in terms of territory and is well known across the world for its extremely fertile black soil ideal for agribusiness. The country’s favourable geographical location, on the Black Sea coast and right on the border with the European Union, has made it a destination of choice for many investors looking...
Hungary’s OTP Bank Signs New ACI Deal
Hungary’s OTP Bank, one of the largest independent financial service providers in central and eastern Europe, announced on April 11 that it will utilise the full range of ACI’s UP portfolio of solutions to drive its digital transformation strategy. ACI is a leading global provider of real-time electronic payment and banking solutions....
Economic Growth of Ukraine Depends on Completing Pending Reforms Quickly
Ukraine’s economy grew by 2.5 per cent in 2017, the second year of modest growth, according to the World Bank’s latest Ukraine Economic Update. Growth in manufacturing, services, and construction was robust, but weaknesses in the agriculture and mining sectors, together with delays in key reforms to further strengthen investor...
World Bank Group Offers More Support for Belarus
The World Bank Group will continue to help Belarus achieve sustainable and inclusive growth as well as improved living standards. The 2018-22 Country Partnership Framework (CPF) consultation underlined the importance of transparency of information, the use of impact data, and public-private dialogue in the decision-making process. The CPF’s...
