Billionaire Andrej Babiš won the Czech parliamentary election

Andrej Babiš (Jiří Vítek, CC BY-SA)

Bulgarian Foreign Minister: we are ready to join Schengen Area

Orlen Lietuva with EUR140m net profit

Czech Republic

Nine political parties will have seats in the Czech parliament after the election that took place on October 20th and 21st. It seems that PM Bohuslav Sobotka, the leader of the Czech Social Democrativ party (CSSD) will step down, as the populist part ANO, led by a billionaire Andrej Babiš, won the election.

As the estimates after 99 per cent of ballots counted show, ANO got nearly 29.6 per cent of the vote (78 seats), the centre-right Civis Democratic Party got 11.3 per cent of the vote (25 seats), the extreme right-wing Freedom & Direct Democracy together with the Czech Pirate Party got over 10 per cent and the Social Democrats got 7 per cent.

 “I am happy that Czech citizens did not believe the disinformation campaign against us and expressed their trust in us,” Babiš said in his victory speech at ANO headquarters, quoted by The New York Times. “We are a democratic movement, we are a pro-European and pro-NATO party, and I do not understand why somebody labels us as threat to democracy.”

Although Czech businessmen complain over bureaucracy that stops their investments, it is worth remembering Czech economy is very strong. The unemployment is the lowest in the European Union and the GDP growth could exceed 4.5 per cent in 2017.

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Bulgaria

Bulgaria’s Foreign Minister Katerina Zaharieva has announced that the country has already “fulfilled” all the criteria to enter the Schengen area. “I hope to get an access at least by air and sea next year,” Zaharieva said in an interview with Nova TV. The official also pointed out that Bulgaria “is able to protect the external border” while not being part of the Schengen Agreement.

The Schengen Area consists of 26 member states, providing to over 400 million citizens the freedom of travelling.

Bulgaria, Romania, Croatia, Cyprus, Ireland and the United Kingdom are outside the area. Bulgaria has joined the European Union in 2007. Since then it has applied to enter the Schengen Area. Its application was approved by the European Parliament in 2011. But the accession process has been stopped by the Council.

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Poland, Lithuania

Orlen Lietuva, the Lithuanian branch of the Polish state-owned energy giant PKN Orlen, posted a net profit of EUR140.8m for the first three quarters of 2017. It’s up 16 per cent y/y. As the Baltic Course reports Orlen Lietuva’s sales revenue grew by 26 per cent y/y – to EUR2,673bn.

In the Q3’18 the revenue was up 24 per cent – reaching EUR999.2m and the profit jumped to EUR61.m. Also, the profit was up by 23 per cent q/q.

The Baltic Course informs, the company’s capital expenditure (Capex) amounted to EUR41.7m in the first nine months of 2017. The company formerly known as Mažeikių Nafta was established in 1992. It was acquired by the Polish Orlen in 2006. It is an oil refinery (the only one in the Baltic States) and oil-processing plant.

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What’s up in indexes

BET (of Bucharest) decreased from 8,009.42 index points Thursday, October 19th to 7,933.48 index points Friday, October 20th. It’s down 1.00 per cent d/d and up 14.84 per cent y/y.

BUX (of Budapest) increased from 39,098.00 index points Thursday, October 19th to 39,132.62 index points Friday, October 20th. It’s up 0.09 per cent d/d and up 33.37 per cent y/y.

CROBEX (of Zagreb) increased from 1,845.13 index points Thursday, October 19th to 1,846.19 index points Friday, October 20th. It’s up 0.06 per cent and down 5.79 per cent y/y.

OMXR (of Riga) decreased from 1,024.19 index points Thursday, October 19th to 1,017.16 index points Friday, October 20th. It’s down 0.69 per cent d/d and up 42.38 per cent y/y.

OMXT (of Tallinn) decreased from 1,230.28 index points Thursday, October 19th to 1,222.59 index points Friday, October 20th. It’s down 0.63 per cent d/d and up 18.94 per cent y/y.

OMXV (of Vilnius) decreased from 656.80 index points Thursday, October 19th to 655.96 index points Friday, October 20th. It’s down 0.13 per cent d/d and up 20.04 per cent y/y.

PX (of Prague) increased from 1,052.78 index points Thursday, October 19th to 1,056.61 index points Friday, October 20th. It’s up 0.36 per cent d/d and up 14.68 per cent y/y.

SAX (of Bratislava) closed at 310.42 index points Friday, October 20th. It’s 0 per cent change d/d and down 1.46 per cent y/y.

SOFIX (of Sofia) decreased from 668.18 index points Thursday, October 19th to 667.82 index points Friday, October 20th. It’s down 0.05 per cent d/d and up 32.05 per cent y/y.

UX (of Kyiv) increased from 1,232.87 index points Thursday, October 19th to 1,235.04 index points Friday, October 20th. It’s up 0.18 per cent d/d and up 47.90 per cent y/y.

WIG20 (of Warsaw) decreased from 2,502.34 index Wednesday, October 18th to 2,467.49 index points Thursday, October 19th. It’s down 1.39 per cent d/d and up 41.44 per cent y/y.

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