bne IntelliNews

bne IntelliNews Magazine — Our primary monthly publication, bne IntelliNews, focuses on business updates and political developments across over 30 countries in Eastern Europe and Eurasia.

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Construction bosses turn witness in Turkey’s investigation into “Imamoglu Crime Syndicate”

1 day ago | intellinews.com | Akin Nazli

Three board members of Istanbul-based construction contractor group Yapi Merkezi Insaat have delivered confessions serving as evidence for the prosecution in the investigation mounted against the so-called “Imamoglu Crime Syndicate” supposedly led by jailed chief political rival to Turkish President Recep Tayyip Erdogan, Istanbul mayor Ekrem Imamoglu, government-run news service Anadolu Agency reported on June 4.
PSD dithering delays government formation and urgent fiscal reforms in Romania

2 days ago | intellinews.com | Iulian Ernst

Romania’s Social Democratic Party (PSD) has stalled internal reforms and the decision on who it wants to nominate for prime minister, hindering the formation of a new government and casting uncertainty over the fiscal consolidation timeline. Despite losing electoral ground in 2024, the PSD remains the largest parliamentary force.
Boss of Turkish fuel retailer Teco arrested as part of Imamoglu operation

2 days ago | intellinews.com | Akin Nazli

An Istanbul court has ordered the arrest of Sarp Yalcinkaya, head of local fuel retailer Teco Petrolculuk, at the request of the chief public prosecutor’s office, according to government-run news service Anadolu Agency. Yalcinkaya was detained on May 23 as part of a fourth detention wave carried out as part of the ongoing and widening crackdown targeting Istanbul mayor Ekrem Imamoglu, the jailed chief political rival to President Recep Tayyip Erdogan.
European Commission concludes Romania breached fiscal consolidation plan

3 days ago | intellinews.com | Iulian Ernst

The European Commission has concluded that Romania failed to comply with the national medium-term fiscal-structural plan agreed by both sides on November 21 2024 and initiated the process that may lead to disciplinary measures such as the suspension of funds under the cohesion and Resilience Facility on July 8. Technically, Romania must come up with convincing corrective actions by the end of the month in order to prevent disciplinary measures.
Moldovan PM warns of Russian plan to deploy 10,000 troops in Transnistria

3 days ago | intellinews.com | Iulian Ernst

Russia is seeking to deploy up to 10,000 troops in Moldova’s separatist Transnistria region should the pro-EU authorities lose the parliamentary elections scheduled for September, Prime Minister Dorin Recean told The Financial Times on June 4. Recean said Moscow is intensifying efforts to interfere in Moldova's domestic politics to secure a more Kremlin-aligned government in Chișinău, which could facilitate an expanded Russian military presence on the Ukrainian border.
Bulgaria gets green light for eurozone entry as protesters gather in Sofia

3 days ago | intellinews.com | Denitsa Koseva

Bulgaria was given the long-awaited green light to join the Eurozone on June 4 by the European Central Bank (ECB) and the European Commission (EC), which said in extraordinary convergence reports that the country has met all criteria and can switch to the euro as of January 1, 2026.
Regime order goes out to clear images of jailed mayor Imamoglu from Istanbul

4 days ago | intellinews.com | Akin Nazli

The chief prosecutor’s office in Istanbul has ordered Istanbul Municipality to stop using images, photos, videos and voice recordings of jailed mayor Ekrem Imamoglu, Baris Terkoglu of Onlar TV has reported. The ban has been applied to all public transport lines (road, rail and sea) operated by the municipality. Imamoglu under siege In May, X blocked access to Imamoglu’s accounts (@ekrem_imamoglu and @imamoglu_int) in Turkey.
Kosovo's EU bid depends on dialgue with Serbia and functioning institutions, says Commissioner Kos

4 days ago | intellinews.com | Iulian Ernst

Kosovo’s progress towards European Union membership depends on normalising relations with Serbia and not on unilateral actions taken by Pristina, European Commissioner for Enlargement Marta Kos stated on June 3 according to Euronews. Kos also called for the urgent formation of Kosovo’s new institutions, after the country's Assembly had failed to constitute itself for the 25th time. “Normalisation of relations with Serbia is a fundamental requirement.
Turkey's official inflation falls to 35% y/y in May

4 days ago | intellinews.com | Akin Nazli

Turkey’s consumer price index (CPI) inflation officially stood at 35.41% y/y in May versus 37.86% y/y in April and 44% y/y at end-2024, the Turkish Statistical Institute (TUIK, or TurkStat) said on June 3. It is not advisable to plan, price or draw inferences based on TUIK data. There is widespread concern about the reliability of Turkey’s official data series. At 35%, Turkey fell to eighth place in the world inflation league.
Russia demands Ukraine's de facto capitulation with Istanbul demands

5 days ago | intellinews.com | Ben Aris

Russian and Ukrainian delegations met in Istanbul for the second direct ceasefire talks on June 1 that made little progress in laying out the groundwork for the mooted 30-day ceasefire suggested by the Trump administration in March.