Andrej Babis became Czech Prime Minister

Croatia: the EBRD's  Enterprise Expansion Fund introduced to Croatian entrepreneurs

Foreign tourist spend HUF14,000 (EUR44.54) daily in Hungary

Czech Republic

Andrej Babis, Czech entrepreneur and the leader of ANO party, was appointed as the Prime Minister on December 6th. The Radio Praha reports that “in a short, around five minute, ceremony at Prague Castle (…) President Milos Zeman asked the ANO leader to form a government and put together sufficient support to stay in office.”

The ANO party won October’s election in the Czech Republic by getting about 30 per cent of the vote and 78 mandates in 200-seat lower house. Mr. Babis has informed he would propose a minority government “seeking support and tolerance in parliament where it could”.

The 63-year old Czech leader made a fortune running an agro-chemical business and investing in the country’s biggest newspapers and radio stations.

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Croatia

SeeNews Corporate Wire reports that the European Bank for Reconstruction and Development (EBRD) has presented the Enterprise Expansion Fund (ENEF) to Croatian entrepreneurs and business leaders. ENEF is a regional private equity fund and a part of the Western Balkans Enterprise Development and Innovation Facility (WB EDIF) platform – aiming to “enhance and support access to finance for micro, small and medium-sized enterprises across the region”.

The new fund provides equity and quasi-equity to selected companies. The total sum of EUR100m is available – for direct and parallel co-financing of Croatian and the Western Balkans businesses. EBRD has already been co-funding projects in Croatia since and invested EUR3.6bn in the total number of 198 projects.

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Hungary

The Budapest Business Journal informs that each foreign visitor spends in Hungary about HUF14,000 (EUR44.54) per day. The tourists’  spending grew in Q3’17 by 6.3 per cent y/y. In the period mentioned they left HUF626bn (EUR1.9bn) in the country.

According to the portal, foreign tourists “crossed the Hungarian border 18.9 million times” in Q3’2017. It’s up 5.1 per cent y/y. The number of tourist trips grew by 7.6 per cent and the number of trips lasting more than one day grew by 6.5 per cent.

At the same time more Hungarians travel abroad. The number of foreign trips made by Hungarians grew by 10.2 per cent in Q3 2017 – reaching 6.1 m.

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What’s up in indexes

BET (of Bucharest) decreased from 7,734.18 index points Tuesday, December 5th to 7,676.82 index points Wednesday, December 6th. It’s down 0.56 per cent d/d and up 11.45 per cent y/y.

BUX (of Budapest) increased from 37,558.76 index points Tuesday, December 5th to 37,591.53 index points Wednesday, December 6th. It’s up 0.09 per cent d/d and up 24.99 per cent y/y.

CROBEX (of Zagreb) decreased from 1,856.19 index points Tuesday, December 5th to 1,853.23 index points Wednesday, December 6th. It’s down 0.16 per cent d/d and down 4.48 per cent y/y.

OMXR (of Riga) decreased from 1,034.08 index points Tuesday, December 5th to 1,026.59 index points Wednesday, December 6th. It’s down 0.72 per cent d/d and up 38.25 per cent y/y.

OMXT (of Tallinn) increased from 1,226.66 index points Tuesday, December 5th to 1,226.68 index points Wednesday, December 6th. It’s 0 per cent change d/d and up 17.17 per cent y/y.

OMXV (of Vilnius) increased from 660.53 index points Tuesday, December 5th to 661.35 index points Wednesday, December 6th. It’s up 0.12 per cent d/d and up 18.10 per cent y/y.

PX (of Prague) decreased from 1,060.89 index points Tuesday, December 5th to 1,053.15 index points Wednesday, December 6th. It’s down 0.73 per cent d/d and up 17.69 per cent y/y.

SAX (of Bratislava) increased from 320.54 index points Tuesday, December 5th to 320.57 index points Wednesday, December 6th. It’s up 0.01 per cent d/d and up 5.12 per cent y/y.

SOFIX (of Sofia) decreased from 668.19 index points Tuesday, December 5th to 666.31 index points Wednesday, December 6th. It’s down 0.28 per cent d/d and up 17.38 per cent y/y.

UX (of Kyiv) decreased from 1,272.93 index points Tuesday, December 5th to 1,270.19 index points Wednesday, December 6th. It’s down 0.22 per cent d/d and up 56.26 per cent y/y.

WIG20 (of Warsaw) decreased from 2,407.72 index points Tuesday, December 5th to 2,394.67 index points Wednesday, December 6th. It’s down 0.54 per cent d/d and up 27.61 per cent y/y.

 

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