Hungary starts EUR32.7m job-creation programme for SME’s

Budapest, Hungary (Charles Sayer, CC BY-NC-ND)

Will Estonia ban gas and diesel cars soon?

Dutch Dietsmann enters the Balkans

Hungary

The DailyNews Hungary reports on the new job-creation program directed to small and medium companies (SME). The Ministry for National Economy will launch it on August 1st, 2017. The government has accumulated HUF10bn (EUR32.7m) to fund job-creation investment projects.

As the Minister Mihaly Varga claims, the measure could help create up to 5,000 new jobs at 1,100-1,200 SME.

“Thanks to the new programme, SME will be able to procure new equipment and machinery, amongst others, and the funding may also be spent on purchasing property or paying rent (…) The job creation funding may be provided under the umbrella of regional development funding or de minimis funding, and could be as much as HUF1.5m in the case of a non-registered job seeker. In addition, businesses will receive HUF500,000 for each agency worker and HUF800,000 for each new staff member employed within the public works scheme for a period of 12 months, as well as HUF400 in supplementary funding for each new job created in disadvantaged districts or settlements,” Varga commented.

SME’s represent 99 per cent of the businesses operating in the country. They employ over 70 per cent of Hungarians. One of the goals of Hungarian government is achieving full employment.

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Estonia

Postimees quotes experts and entrepreneurs, engaged in electric vehicle sector, claiming Estonia should ban the sale of gasoline and diesel cars sooner than the United Kingdom and France. These countries had informed they would ban sale of internal combustion engine vehicles by 2040.

Mario Kadastik, the first Estonian who’s bought Tesla and runs an EV renting company, and Raul Potisepp, from the institution Elektritranspordi OU, explain Estonia could do so before 2025 or 2030. They point out Norway, where 23 per cent of new cars sold are the electric ones. In Norway the internal combustion cars will probably be withdrawn from the market by 2025.“We need to follow a similar time frame, while we should definitely keep up in this regard,” claims Kadastik.

Raul Potisepp adds that this is urgent due to rising levels of air pollution. He recalls that according to a study conducted by researchers of the University of Tartu in 2007 air pollution kills about 300 people in Tallinn (Estonia’s capital) each year, and that this is mainly caused by traffic.

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Bulgaria

Dutch-based company Dietsmann, maintenance and engineering services provider, established in 1977, acquired a controlling stake in Bulgarian Energoremont Holding (BUL:6EG) at the end of July 2017. After buying 97 per cent of the Energoremont’s shares the Dutch company announced its further expansion in Bulgaria and in the Balkans region.

SEE News Corporate Wire quotes Rossen Hristov, regional director of Dietsmann for Eastern Europe, who reveals that “Dietsmann had stepped into the acquisition for reasons, which include interest in projects in Romania and Macedonia, a coal mining project in Bulgaria’s Radnevo, nuclear power sector capabilities and oil refining operations at Bulgaria’s Lukoil Neftohim refinery.”

Energoremont Holding closed 2016 fiscal year with a net loss of BGN12.3m (EUR6.3m).

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What’s up in indexes

BET (of Bucharest) increased from 8,303.03 index points Friday, July 28th to 8,300.46 index points Monday, July 31st. It’s up 0.28 per cent d/d and up 23.20 per cent y/y.

BUX (of Budapest) increased from 35,750.65 index points Friday, July 28th to 35,801.00 index points Monday, July 31st. It’s up 0.09 per cent d/d and up 30.33 per cent y/y.

CROBEX (of Zagreb) decreased from 1,888.11 index points Thursday, July 27th to 1,884.55 index points Friday, July 28th. It’s down 0.19 per cent and up 6.23 per cent y/y.

OMXR (of Riga) increased from 992.53 index points Friday, July 28th to 990.43 index points Monday, July 31st. It’s up 0.05 per cent d/d and up 55.16 per cent y/y.

OMXT (of Tallinn) decreased from 1,242.45 index points Friday, July 28th to 1,231.42 index points Monday, July 31st. It’s down 0.89 per cent d/d and up 21.55 per cent y/y.

OMXV (of Vilnius) decreased from 626.53 index points Friday, July 28th to 625.77 index points Monday, July 31st. It’s down 0.12 per cent d/d and up 15.21 per cent y/y.

PX (of Prague) increased from 1,008.33 index points Friday, July 28th to 1,009.04 index points Monday, July 31st. It’s up 0.07 per cent d/d and up 14.65 per cent y/y.

SAX (of Bratislava) increased from 332.53 index points Friday, July 28th to 335.23 index points Monday, July 31st. It’s up 0.81 per cent d/d and up 7.57 per cent y/y.

SOFIX (of Sofia) increased from 710.98 index points Friday, July 28th to 715.21 index points Monday, July 31st. It’s up 0.59 per cent d/d and up 56.20 per cent y/y.

UX (of Kyiv) decreased from 1,121.94 index points Friday, July 28th to 1,118.56 index points Monday, July 31st. It’s down 0.30 per cent d/d and up 54.24 per cent y/y.

WIG20 (of Warsaw) increased from 2,360.42 index points Friday, July 28th to 2,374.17 index points Monday, July 31st. It’s up 0.58 per cent d/d and up 34.73 per cent y/y.