Baltic countries’ residents don’t have strong digital skills

(EU2017EE Estonian Presidency, CC BY)

Bosnian power distributor gest EUR15m from EBRD

Hungarian MNB kept the key rate at 0.9 per cent

Baltic countries

Only 6 per cent of residents in Estonia, Latvia and Lithuania have necessary digital skills to freely use digital solutions, Baltic Course reports quoting a survey conducted by SEB Bank.

Most of the bank customers that are able to freely use the contactless payment service, Smart-ID, Mobile-ID, electronic ID-card, video calls, mobile applications and other modern digital solutions are aged between 26 and 35 and live in the major cities.

The highest percentage of digitally skilled residents are in Estonia (10 per cent), then in Latvia (5 per cent), with Lithuania as the last one (1 per cent). The share of people not using digital solutions was higher than one-third in Estonia, 38 per cent in Latvia and almost 50 per cent in Lithuania.

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Bosnia and Herzegovina

The European Bank for Reconstruction and Development (EBRD) provided a loan of EUR15m to power distribution company ZEDP Elektro Bijeljina — the SEE News Corporate Wire informs. As reported the company will use the funds for the reconstruction of the medium and low-voltage network and the installation of smart meters.

The portal points out that the EBRD is a major investor in Bosnia and Herzegovina. So far it provided EUR2.1bn to finance about 150 projects, e.g. to modernize ZP Elektrokrajina A.D. Banja Luka.

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Hungary

The Monetary Council of the National Bank of Hungary (MNB) decided to keep the central bank’s key rate on hold, writes Budapest Business Journal. The MNB has left the base rate on hold since ending an easing cycle in the spring of 2016. The council also left the O/N central bank deposit rate at -0.15% and the O/N collateralized loan rate at 0.90% at the meeting Tuesday.

In a statement released after the meeting, the council said it had reviewed its monetary policy instruments and was “prepared for the gradual and cautious normalization of monetary policy, which will start depending on the outlook for inflation.”

The MNB said the inflation target is still expected to be achieved in a sustainable manner from mid-2019. “To ensure this, in the council’s assessment, maintaining the base rate and the loose monetary conditions is necessary,” the statement added.

In addition, the MNB said it would launch a new program to “raise the proportion of long-term, fixed-rate lending to SMEs to an adequate level” early in 2019. The program, dubbed “FGS fix,” will be launched with HUF1 trillion.

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What’s up in indexes

BET (of Bucharest) increased from 8,214.39 index points Tuesday, September 18th to 8,291.67 index points Wednesday, September 19th. It’s up 0.56 per cent d/d and up 3.94 per cent y/y.

BUX (of Budapest) increased from 36,111.00 index points Tuesday, September 18th to 36,386.40 index points Wednesday, September 19th. It’s up 0.76 per cent d/d and down 4.69 per cent y/y.

CROBEX (of Zagreb) decreased from 1,800.34 index points Tuesday, September 18th to 1,806.23 index points Wednesday, September 19th. It’s up 0.33 per cent d/d and up 1.60 per cent y/y.

OMXR (of Riga) decreased from 989.06 index points Tuesday, September 18th to 983.55 index points Wednesday, September 19th. It’s down 0.56 per cent d/d and down 1.41 per cent y/y.

OMXT (of Tallinn) decreased from 1,212.61 index points Tuesday, September 18th to 1,207.54 index points Wednesday, September 19th. It’s down 0.42 per cent d/d and down 2.67 per cent y/y.

OMXV (of Vilnius) increased from 688.49 index points Tuesday, September 18th to 868.61 index points Wednesday, September 19th. It’s down 0.27 per cent d/d and up 6.47 per cent y/y.

PX (of Prague) increased from 1,091.64 index points Tuesday, September 18th to 1,098.42 index points Wednesday, September 19th. It’s up 0.62 per cent d/d and up 4.86 per cent y/y.

SAX (of Bratislava) decreased from 333.22 index points Tuesday, September 18th to 325.29 index points Wednesday, September 19th. It’s down 2.38 per cent d/d and down 1.83 per cent y/y.

SOFIX (of Sofia) decreased from 629.86 index points Tuesday, September 18th to 627.60 index points Wednesday, September 19th. It’s down 0.36 per cent d/d and down 6.37 per cent y/y.

UX (of Kyiv) increased from 1,637.30 index points Tuesday, September 18th to 1,641.83 index points Wednesday, September 19th. It’s up 0.28 per cent d/d and up 45.27 per cent y/y.

WIG20 (of Warsaw) increased from 2,231.04 index points Tuesday, September 18th to 2,259.10 index points Wednesday, September 19th. It’s up 1.26 per cent d/d and down 9.74 per cent y/y.

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