Budapest metro renovation could start next summer

Budapest underground, Hungary (TKCA photography, CC BY)

Poland: child benefits program not causing women to leave jobs

Ukrainian Naftogaz signed USD500m loan agreement for gas purchase

Poland

Minister of Poland’s Labor and Social Policy Elżbieta Rafalska told Polish Radio that media allegations saying that the main reason for economic inactivity of 140,000 women was the 500+ program, was “unreliable, negligent analysis of the data”. “I think that making judgments that this program causes women [to stop working], and on the scale that media are describing, is irresponsible,” Rafalska said.

The ‘500+ program’ gives Polish families PLN500 a month for the second and subsequent child, and was introduced in the first half of 2016. It cost the government PLN15.4bn (EUR3.49bn) by the end of November.

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Hungary

The renovation works of Budapet’s underground will start in summer, Budapest Mayor István Tarlós told the daily Népszava. Tarlós suggested that “someone may deliberately be trying to stall the project.” He hopes that the renovation would cover the installation of elevators at every station of the metro line but the final scope of the renovation would depend on the offers the capital would receive for the upgrade of the stops.

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Ukraine

Naftogaz Ukrainy has signed a loan agreement with Citi and Deutsche Bank for a EUR-denominated credit line for gas purchase. The value of the loan is USD500m, secured by the World Bank.

As Interfax reports the guarantee is valid for four years, two years available for gas purchase and two for repayment. According to the funding conditions under the credit facility, Naftogaz will continue buying gas under existing eligible contracts, switching from pre-payment to post-payment terms.

Naftogaz will repay those loans within twelve months upon the receipt. “These funds will enable Naftogaz to ensure a stable gas supply to Ukrainian consumers during this winter,” the company’s press release quoted Naftogaz’ CEO Andriy Kobolev.

In 2015, Naftogaz received a USD300m revolving loan from the European Bank for Reconstruction and Development (EBRD) to purchase gas from European suppliers.

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What’s up in indexes

BUX (of Budapest) – increased from 31847.87 index points Thursday, December 29th to 32003.05 index points Friday, December 30th. So it’s up 0.49 per cent d/d. From year-end it’s up 33.79 per cent.

BET (of Bucharest Stock Exchange) increased from 7062.54 index points Thursday, December 29th to 7085.05 index points Friday, December 30th.  So it’s up 0.32 per cent d/d and up 1.19 per cent from year-end.

PX (of Prague) was up 0.22 per cent – increasing from 919.58 index points Thursday, December 29th to 921.61 index points Friday, December 30th.  From year-end it dropped by 3.63 per cent.

WIG20 (of Warsaw) was up 0.08 per cent d/d and up 4.77 per cent from year-end. It increased from 1946.32 index points Thursday, December 29th to 1947.92 index points Friday, December 30th.

OMXT (of Tallinn) was up 0.25 per cent d/d and up 19.63 per cent from year-end. It increased from 1072.80 index points Thursday, December 29th to 1075.50 index points Friday, December 30th

OMXR (of Riga) was up 0.12 per cent d/d and up 23.46 per cent from year-end – increasing from 732.91 index points Thursday, December 29th to 733.77 index points Friday, December 30th

OMXV (of Vilnius) was up 0.15 d/d and up 14.92 per cent from year-end. It increased from 557.65 index points Thursday, December 29th to 558.50 index points Friday, December 30th

SAX (of Bratislava) increased from 316.23 index points Thursday, December 29th to 318.57 index points Friday, December 30th.  So it’s up 0.74 per cent d/d and up 8.97 per cent from year-end.

SOFIX (of Sofia) decreased from 586.51 index points Thursday, December 29th to 586.43 index points Friday, December 30th. So it dropped by 0.01 per cent d/d. From year-end it’s up 27.24 per cent.

The bourse of Kyiv was closed Friday, December 30th. UX closed at 795.84 index points Thursday, December 29th. From year-end it’s up 16.04 per cent.

CROBEX (of Zagreb) was up 0.18 per cent d/d – increasing from 1991.33 index points Thursday, December 29th to 1994.84 index points Friday, December 30th.  From year-end it’s up 21.09 per cent.

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