The accession of Romania and Bulgaria to the EU at the start of the year has provided yet more opportunities for the many international firms operating in Central and Eastern Europe (CEE).
But it has not been all good news for Linklaters, with the firm's Romania practice suffering a setback when six lawyers defected to launch their own start-up.
Real estate is leading the boom for many firms in the region outside Russia, although investment in the Russian residential real estate market has received a facelift following new legislation governing town planning.
This CEE Special Report examines the impact of the EU's new energy treaty on the region, as well as debating the success of changes to Russia's tax system.
The report also reviews the changing Russian residential property market.