Bulgaria joins Common European Electricity Market

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Zelensky wants a referendum on a land sale to foreigners

Taxes from Estonian e-residents increased by 30 per cent

Bulgaria

Bulgaria joins the Common European Electricity Market and the first deliveries are planned for November 20th this year, European Commission informed as Novinite reports. “An integrated EU energy market is the most cost-effective way to ensure secure and affordable supplies to EU citizens. Through common energy market rules and cross-border infrastructure, energy can be produced in one EU country and delivered to consumers in another. This keeps prices in check by creating competition and allowing consumers to choose energy suppliers,” EC stressed in its press release.

So far 14 countries, six from CSE region (Czech Republic, Hungary, Poland, Romania, Slovenia and now Bulgaria) among them, joined Common European Electricity Market.

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Ukraine

Ukraine’s President Volodymyr Zelensky informed that citizens of other states and foreign companies will be entitled to buy Ukrainian land only if the Ukrainian people give consent to it at a referendum, Intrefax news agency reported. Mr. Zelensky noted that in the near future the Verkhovna Rada would develop and adopt a law that “clearly establishes the types and mechanisms of the referendum, and finally gives Ukrainians the right to decide the fate of one or another issue very important for them.”

According to the bill, from October 2020, the ban on the sale of agricultural land will no longer exist. The Ukrainian individuals and legal entities, territorial communities and the state would have an opportunity to buy the land. For foreigners there is a transitional period (until 2024).

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Estonia

“For the first time ever the amount of taxes paid by e-residents has gone beyond the EUR10m mark,” Ott Vatter, manager of the Estonian e-residency program, informed adding that e-residents paid EUR10.8m of taxes in Estonia from January to October this year, which makes 30 per cent increase y/y.

In 2019, the biggest tax inputs have originated from the information and communications sector and professional, scientific and technical activity, which accounted for 35 per cent of all e-resident taxes. The number of companies of e-residents in Estonia has grown by a third in 2019.

The e-residency program was launched in 2014 with the aim to offer foreign nationals secure access to the e-services of the Estonian state. E-residency does not give its holder citizenship, tax residency, a residence permit or a permit to enter Estonia or the EU.

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What’s up in indexes

BET (of Bucharest) increased from 9689.61 index points Friday, November 8th to 9703.67 index points Monday, November 11th. It’s up 0.10 per cent d/d and up 12.0 per cent y/y.

BUX (of Budapest) decreased from 43441.42 index points Friday, November 8th to 43039.00 index points Monday, November 11th. It’s down 0.93 per cent d/d and up 12.9 per cent y/y.

OMXR (of Riga) increased from 1022.05 index points Friday, November 8th to 1022.47 index points Monday, November 11th. It’s up 0.04 per cent d/d and up 7.62 per cent y/y.

OMXT (of Tallinn) increased from 1257.21 index points Friday, November 8th to 1257.47 index points Monday, November 11th. It’s up 0.01 per cent d/d and up 5.44 per cent y/y.

OMXV (of Vilnius) increased from 712.23 index points Friday, November 8th to 715.11 index points Monday, November 11th. It’s up 0.40 per cent d/d and up 11.2 per cent y/y.

PX (of Prague) increased from 1078.27 index points Friday, November 8th to 1085.25 index points Monday, November 11th. It’s up 0.65 per cent d/d and up 0.32 per cent y/y.

RTS (of Moscow) decreased from 1468.17 index points Friday, November 8th to 1460.84 index points Monday, November 11th. It’s down 0.50 per cent d/d and up 31.0 per cent y/y.

SAX (of Bratislava) closed at 342.79 index points Monday, November 11th. It’s the same result as Friday’s. It’s 0 per cent change d/d and up 2.71 per cent y/y.

SOFIX (of Sofia) decreased from 560.59 index points Friday, November 8th to 557.70 index points Monday, November 11th. It’s down 0.52 per cent d/d and down 6.44 per cent y/y.

UX (of Kyiv) increased from 1495.64 index points Friday, November 8th to 1505.09 index points Monday, November 11th. It’s up 0.63 per cent d/d and down 15.96 per cent y/y.

Monday, November 11th was a non-trading day at Warsaw Stock Exchange. WIG20 (of Warsaw) closed at 2255.46 index points Friday, November 8th. It’s down 0.33 per cent y/y

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