Bulgaria, North Macedonia and Albania unite their electricity markets

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China to invest EUR15bn in Tallinn-Helsinki tunnel

Slovenian banks net profit the highest since 2007

Bulgaria, North Macedonia and Albania

Bulgaria’s Electricity System Operator (ESO), the Electricity Transmission System Operator of North Macedonia (MEPSO) and Albania’s Transmission System Operator (OST) have signed a Memorandum of Understanding on a development of the electricity market and strengthening regional cooperation, ESO said in its press release.

The countries declared their will to closely cooperate and contribute to the development of the electricity market by coupling the national “day ahead” markets and integrating them with the single European electricity markets. The initiative is expected to create better opportunities for market participants and to improve energy security of the region.

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Estonia

An ambitious railway link, designed to connect the Finnish and Estonian capitals through the bottom of the Gulf of Finland, has attracted EUR15bn from China-owned Touchstone Capital Partners.

Tunnel developer, Finest Bay Area Development announced it has an agreement with the Chinese fund, which sponsors One Belt One Road initiative, for the financing of the Helsinki-Tallinn tunnel, Finnish daily Helsingin Sanomat reported. One-third of the funding will be a private equity investment, with Touchstone taking a minority share in the project, and the remaining two-thirds will be debt financing.

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Slovenia

Slovenian banks made a joint net profit of EUR496m in 2018, an increase of 17 per cent y/y, partly due to a decrease of NPLs,, the Bank of Slovenia said in its report. “Last year was the fourth in a row in which banks posted profits. Also in 2018, Slovenian banks reported highest profits since 2007,” Boštjan Vasle the Governor of Slovenia Central Bank informed.

Slovenia only narrowly avoided an international bailout for its banks in 2013 when the government had to pour more than EUR3bn into local banks to prevent them from collapsing under a large amount of NPLs.

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What’s up in indexes

BET (of Bucharest) decreased from 7868.07 index points Thursday, March 7th to 7844.33 index points Friday, March 8th. It’s down 0.30 per cent d/d and down 7.40 per cent y/y.

BUX (of Budapest) decreased from 40625.00 index points Thursday, March 7th to 40288.44 index points Friday, March 8th. It’s down 0.83 per cent d/d and up 4.18 per cent y/y.

CROBEX (of Zagreb) decreased from 1,762.21 index points Thursday, March 7th to 1,734.15 index points Friday, March 8th. It’s down 0.11 per cent d/d and down 2.36 per cent y/y.

OMXR (of Riga) increased from 988.29 index points Thursday, March 7th to 988.79 index points Friday, March 8th. It’s up 0.05 per cent d/d and down 5.29 per cent y/y.

OMXT (of Tallinn) decreased from 1247.33 index points Thursday, March 7th to 1246.82 index points Friday, March 8th. It’s down 0.04 per cent d/d and down 4.91 per cent y/y.

OMXV (of Vilnius) decreased from 655.15 index points Thursday, March 7th to 652.69 index points Friday, March 8th. It’s down 0.37 per cent d/d and down 4.52 per cent y/y.

PX (of Prague) decreased from 1067.67 index points Thursday, March 7th to 1061.46 index points Friday, March 8th. It’s down 0.57 per cent d/d and down 5.07 per cent y/y.

SAX (of Bratislava) increased from 341.56 index points Thursday, March 7th to 342.35 index points Friday, March 8th. It’s up 0.23 per cent d/d and up 4.23 per cent y/y.

SOFIX (of Sofia) decreased from 584.00 index points Thursday, March 7th to 582.51 index points Friday, March 8th. It’s down 0.27 per cent d/d and down 14.71 per cent y/y.

UX (of Kyiv) decreased from 1691.28 index points Thursday, March 7th to 1690.05 index points Friday, March 8th. It’s down 0.07 per cent d/d and up 4.87 per cent y/y.

WIG20 (of Warsaw) decreased from 2308.48 index points Thursday, March 7th to 2298.97 index points Friday, March 8th. It’s down 0.41 per cent d/d and down 1.00 per cent y/y.

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