Polish parliament cut CIT for small firms

(Geralt, CC)

Czech Republic ranks 26th on BDO’s investment potential list

In Romania wages in private sector are up 10 per cent

Gas link between Bulgaria and Romania to be completed in autumn 2016

Klaipeda – the best Baltic port by cargo turnover in H1

Poland

On July 22nd Polish Lower House of the parliament voted on new rules aiming to easy tax burden for small firms. The Corporate Income Tax (CIT) will be reduced from 19 per cent to 15 per cent.

As The Polish Radio reports “deputies were almost unanimous, with 439 voting in favor of the cut, nobody opposing it and three abstaining”. The regulation was prepared by the government. It applies to the companies which sales revenue is less than EUR1.2m a year. Now it has to be approved by Senate, the upper house of parliament.

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Czech Republic

Radio Praha informs the Czech Republic is 26th on BDO’s 2015 list. BDO is one of the world’s largest accountancy networks. The list ranks the investment potential of 174 states. Czech Republic is seen as one of the most investment-friendly country of the post-communist bloc.

The top three places of the ranking are Hong Kong, Singapore and the Netherlands. South Korea is at bottom of the list. Countries are compared in three areas: economics, political-legal and socio-cultural.

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Romania

“Wages received by employees in the private sector in Romania went up by an average 10 per cent in the first half of the year, compared to the same period in 2015,” Romania Insider reports. Data released by a company Smartree (HR consultant) shows that also bonuses received by employees went up – by 16 per cent y/y.

“Extra-salary benefits became more common among companies in the first six month of the year, both the monthly ones, such as food vouchers, medical or gym subscriptions, as well as occasional benefits, such as gift vouchers, premiums on various occasions,” writes Romania Insider. The sectors with the higher increases were retail and logistics. The minimum gross wage is RON1,250 (EUR278).

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Bulgaria

Bulgarian Energy Minister Temenuzhka Petkova and her Romanian counterpart Victror Vlad Grigorescu confirmed Bulgaria and Romania will have gas interconnection completed in autumn 2016. Under the agreement signed in 2016 by Bulgartransgaz and Transgaz with Austrian company Habau, the latter will build the main and a backup pipeline linking the gas transmission systems of the two neighboring countries under the Danube.

“All activities are on schedule, thanks to the good coordination between the gas transmission operators of Bulgaria and Romania, Bulgartransgaz and Transgaz,” Novinite.com quotes Petkova.

The officials visited the site of the construction of the underwater section of the gas link at Marten, in Ruse Region on the Bulgarian bank of the Danube on July 23rd. The Bulgaria-Romania interconnection will be of total length of 25 km (15.4 kilometers of Bulgaria, 7.5 km in Romania and 2.1 kilometers on the river bed). “Flows of natural gas flows between Ukraine, Romania and Bulgaria will be tested by the end of 2016,” Novinite.com informs.

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The Baltic states

Lithuanian port of Klaipeda was the best Baltic port in H1’16 in terms of cargo turnover. It reloaded 19.9m tons of cargo (up 5.7 per cent compared with H1’15). The second best was Riga (of Latvia) with 18.3m tons of cargo reloaded (down 11.5 per cent compared with H1’15) and the third was Tallinn (of Estonia) with 10.7m tons.

As Baltic Course reports “Latvia’s northwestern port of Ventspils followed with 10m tons and Liepaja in southwestern Latvia with 2.7m tons”.

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What’s up in indexes

BUX (of Budapest) was up 0.06 per cent – increasing from 27836.10 index points Thursday, July 21st to 27851.63 index points Friday, July 22nd. From year-end it’s up 16.43 per cent.

BET (of Bucharest Stock Exchange) grew by 0.05 per cent – increasing from 6624.83 index points Thursday, July 21st to 6638.03 index points Friday, July 22nd. From year-end it dropped by 5.23 per cent.

PX (of Prague Stock Exchange) was up 0.44 per cent d/d – increasing from 887.50 index points Thursday, July 21st to 891.37 index points Friday, July 22nd. From year-end it lost 6.79 per cent. 

WIG20 (of Warsaw) dropped by 0.59 per cent – falling from 1803.68 index points Thursday, July 21st to 1792.97 index points Friday, July 22nd. From year-end it lost 3.56 per cent.

OMXT (of Tallinn) dropped by 0.07 per cent d/d – falling from 1021.91 index points Thursday, July 21st to 1021.21 index points Friday, July 22nd. From year-end it’s up 13.60 per cent.

OMXR (of Riga) was up 0.11 per cent d/d and 7.88 per cent from year-end. The index increased from 640.45 index points Thursday, July 21st to 641.18 index points Friday, July 22nd.

OMXV (of Vilnius) was up 1.45 per cent d/d and up 12.20 per cent from year-end. So it increased from 537.47 index points Thursday, July 21st to 545.26 index points Friday, July 22nd.

SAX (of Bratislava) dropped by 1.03 per cent d/d, falling 315.65 index points Thursday, July 21st to 312.39 index points Friday, July 22nd. From year-end it lost 6.85 per cent.

SOFIX (of Sofia) dropped by 0.74 per cent d/d – falling from 457.62 index points Thursday, July 21st to 454.25 index points Friday, July 22nd. From year-end it dropped by 1.44 per cent.

UX (of Kyiv) dropped by 0.64 per cent – falling from 716.19 index points Thursday, July 21st to 711.60 index points Friday, July 22nd. From year-end it’s up 3.75 per cent.

CROBEX (of Zagreb Stock Exchange) was up 0.21 per cent d/d – increasing from 1746.23 index points Thursday, July 21st to 1749.83 index points Friday, July 22nd. From year-end it’s up 3.56 per cent.

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