Baltic Pipe is on the way

(Gaz System, Public domain)

Romania: the merger of Banca Transilvania and Bancpost

The salaries of Latvian officials up in 2017

Poland

The Polish Radio informs that by early December 2018 Poland and Denmark will sign a contract on the construction of the Baltic Pipe. The Baltic Pipe will carry to Poland 10 billion cubic meters of natural gas annually.

In 2022 the long-term gas supply contract with Russian Gazprom will expire. By that time Poland wants to maximize exploitation of its Świnoujście Liquefied Natural Gas (LNG) Terminal and to start imports via the Baltic Pipe.

The Baltic Pipe is scheduled to be completed by 2022.

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Romania

The See News Corporate Wire informs on Romania’s Banca Transilvania and Bancpost merger. The shareholders of the first entity have just approved the deal. It will be finalized on December 31st, 2018.

The portal quotes Horia Ciorcila, the chairman of Banca Transilvania’s board of directors: “Based on the Banca Transilvania — Bancpost synergies, and seeing the results so far, we are confident that we will successfully finalize the ambitious integration plan in December, when the two banks will merge”.

Banca Transilvania acquired Bancpost from Greece’s Eurobank Group in April 2018 and holds over 99 per cent of Bancpost’s shares. “In September 2018, Banca Transilvania obtained clearance for the merger from the National Bank of Romania,” the See News Corporate Wire writes.

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Latvia

Latvian news agency Leta informs, after the State Audit Office, that ministries’ spending on salaries was up EUR5.7m in 2017. As reported, it amounted to EUR94m in 2017, which is 6 per cent or EUR5.7m more than in 2016.

According to the State Audit Office the biggest increase in salaries spending was observed in the Foreign Ministry — up by EUR1.7m. The next was the Defense Ministry — up EUR764,700.

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What’s up in indexes

BET (of Bucharest) decreased from 8,599.44 index points Wednesday, October 17th to 8,603.73 index points Thursday, October 18th. It’ down 0.77 per cent d/d and up 6.83 per cent y/y.

BUX (of Budapest) increased from 37,399.00 index points Wednesday, October 17th to 37,485.01 index points Thursday, October 18th. It’s up 0.23 per cent d/d and down 4.09 per cent y/y.

CROBEX (of Zagreb) decreased from 1,778.05 index points Wednesday, October 17th to 1,776.23 index points Thursday, October 18th. It’s down 0.10 per cent d/d and down 1.39 per cent y/y.

OMXR (of Riga) increased from 947.15 index points Wednesday, October 17th to 968.98 index points Thursday, October 18th. It’s up 2.30 per cent d/d and down 5.23 per cent y/y.

OMXT (of Tallinn) increased from 1,226.39 index points Wednesday, October 17th to 1,231.50 index points Thursday, October 18th. It’s up 0.42 per cent d/d and down 0.28 per cent y/y.

OMXV (of Vilnius) decreased from 671.04 index points Wednesday, October 17th to 669.24 index points Thursday, October 18th. It’s down 0.27 per cent d/d and up 2.35 per cent y/y.

PX (of Prague) decreased from 1,087.86 index points Wednesday, October 17th to 1,087.10 index points Thursday, October 18th. It’s down 0.07 per cent d/d up 3.16 per cent y/y.

SAX (of Bratislava) increased from 336.01 index points Wednesday, October 17th to 337.39 index points Thursday, October 18th. It’s up 0.41 per cent d/d and up 8.69 per cent y/y.

SOFIX (of Sofia) decreased from 610.26 index points Wednesday, October 17th to 608.16 index points Thursday, October 18th. It’s down 0.34 per cent d/d and down 9.30 per cent y/y.

UX (of Kyiv) decreased from 1,738,23 index points Wednesday, October 17th to 1,721.56 index points Thursday, October 18th. It’s down 0.96 per cent d/d and up 39.93 per cent y/y.  

WIG20 (of Warsaw) decreased from 2,199.53 index points Wednesday, October 17th to 2,188.10 index points Thursday, October 18th. It’s down 0.52 per cent d/d and down 12.56 per cent y/y.

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