Stress tests show Bulgarian banking system is stable

Bulgarian National Bank headquarters, Sofia, Bulgaria (Bjoertvedt, CC)

Odessa Port Plant’s operations suspended

In Slovakia employment in industry increased

Romania’s annual inflation rate at -0.8 per cent in July 2016

Bulgaria

According to the Bulgarian central bank (BNB) the country’s banking system is stable. BNB Governor, Dimitar Radev announced it on August 11th, after the completion of the asset quality review and stress test of the country’s banks.

Novinite.com quotes Mr. Radev: “The main indicator of a bank’s financial resilience, the ratio of bank common equity Tier1 capital to its risk-weighted assets remains significantly above the required minimum regulatory requirements on a system level and is above the EU average as announced in the latest European stress test (…) With individual results varying across banks, follow-up plans have been developed that include measures aimed at maintaining existing capital buffers for some banks or increasing capital buffers and decreasing risk-weighted assets for others”.

The portal informs the central bank’s governing council has concluded that the capital adequacy of each bank after potential adjustments from the asset quality review remains above the minimum regulatory requirements.

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Ukraine

The Interfax reports that chemical company, Odessa Port Plant, suspeneded its operations on August 11th. The agency quotes the first deputy CEO, Mykola Schurikov (being under house arrest): “We can only state the fact: we can forget about privatization in the next few years, the plant in unlikely to get up from its knees”.

The reason for the suspension was reduction in natural gas supplies by Ukrtransgaz. On July 18th Ukrtransgaz announced it would start disconnecting the plant from gas supplies because of the breach of the contract for natural gas transportation in July 2016 – lack of prepayment, as well as excess gas extraction in the current month of the same year.

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Slovakia

Slovak Spectator informs about an improvement of industrial employement. As the data from the Slovak Statistical Office (ŠÚSR) shows, employment rose y/y in several industrial sectors:

  • market services (up 7 per cent);
  • sale and repair of motor vehicles (up 4.7 per cent);
  • information and communication activities (up 4.3 per cent);
  • industry (up 3.3 per cent);
  • transport and warehousing (up 2.4 per);
  • construction (up 1.9 per cent);
  • accommodation services (up 0.5 per cent).

“At the same time, the number of employed people dropped in wholesale by 4.5 per cent, in restaurants and pubs by 1.2 per cent and in retail by 0.9 per cent,” the Slovak Spectator writes.

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Romania

The National Statistics Institute (INS) of Romania informed the annual inflation rate remained negative in July 2016 at -0.8 per cent. In June 2016 it was -0.7 per cent. When compared to June the consumer prices dropped by an average of 0.24 per cent in July 2016. In details:

  • the food prices went up by 0.04 per cent on average;
  • the non-food products prices dropped by 0.52 per cent;
  • the services’ prices dropped by 0.1 per cent.

Annually the consumer prices dropped by an average of 0.78 per cent in July 2016 (food prices went up by 1.25 per cent, the prices of non-food products dropped by 2.2 per cent, and services had 0.93 per cent lower prices).

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What’s up in indexes

BUX (of Budapest) was up 0.08 per cent d/d – increasing from 27502.22 index points Wednesday, August 10th to 27524.41 index points Thursday, August 11th. So it’s up 15.07 per cent.

BET (of Bucharest Stock Exchange) increased from 6837.00 index points Wednesday, August 10th to 6834.61 index points Thursday, August 11th. So it’s up 0.03 per cent d/d. From year-end it dropped by 2.42 per cent. 

PX (of Prague Stock Exchange) was up 0.24 per cent d/d – increasing from 859.18 index points Wednesday, August 10th to 861.20 index points Thursday, August 11th. From year-end it dropped by 9.95 per cent.

WIG20 (of Warsaw) was up 0.66 per cent – increasing from 1852.54 index points Wednesday, August 10th to 1864.70 index points Thursday, August 11th. From year-end it’s up 0.30 per cent.

OMXT (of Tallinn) dropped by 1.73 per cent – falling from 1013.10 index points Wednesday, August 10th to 995.60 index points Thursday, August 11th. From year-end it’s up 10.75 per cent.

OMXR (of Riga) was up 0.21 per cent d/d and up 7.55 per cent from year-end. It increased from 637.84 index points Wednesday, August 10th to 639.20 index points Thursday, August 11th.

OMXV (of Vilnius) dropped by 0.02 – falling from 538.72 index points Wednesday, August 10th to 538.60 index points Thursday, August 11th. From year-end it’s up 10.83 per cent.

SAX (of Bratislava) decreased from 317.27 index points Wednesday, August 10th to 311.51 index points Thursday, August 11th. So it dropped by 1.82 per cent d/d. From year-end it’s up 6.55 per cent.

SOFIX (of Sofia) decreased from 458.58 index points Wednesday, August 10th to 455.53 index points Thursday, August 11th. So it dropped by 0.67 per cent d/d and by 1.17 per cent from year-end.

UX (of Kyiv) decreased from 697.05 index points Wednesday, August 10th to 696.28 index points Thursday, August 11th. So it dropped by 0.11 per cent d/d. From year-end it’s up 1.52 per cent.

CROBEX (of Zagreb) dropped by 0.11 per cent d/d – falling from 1784.82 index points Wednesday, August 10th to 1782.81 index points Thursday, August 11th. From year-end it’s up 5.51 per cent.

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