Central Europe backs locally produced biofuels

Rapeseed field (Foto-Rabe, Public domain)

Lithuania introduces quotas for non-EU workers

Serbia want to convert CHF-denominated mortgages

Poland, Slovakia and Czech Republic

The three countries had signed a joint declaration on de-carbonizing European transport by shifting to clean biofuels. “We believe that the targets under Renewable Energy Directive (RED II) shall be achieved primarily by the locally sourced production ensuring energy security and preservation of jobs and agricultural activities in the EU,” they wrote in a statement.

They added that crop-based biofuels were one of the “most feasible and widely available sources of renewable energy used in the transport sector”. The three countries are convinced that supporting locally produced biofuels would also help accelerate the co-production of protein feed and keep agricultural land productive.

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Lithuania

The Lithuanian government wants to introduce quotas for non-EU migrant workers. Quotas would be set annually by the Lithuanian Employment Service, which also publishes lists of professions that lack labor force. The first quota will be set in 2021. It would not apply to highly qualified professions. The law also gives preferential treatment for citizens from countries that have visa-free travel agreements with Lithuania, such as Australia, Japan, the United States, Canada, South Korea and New Zealand. These nationals will be eligible for three years residency permits.

Some 52,000 non-EU workers came in Lithuania last year. The number has been steadily growing. Most of the workers are from Ukraine.

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Serbia

The Serbian government proposed a law solving problems associated with the CHF-denominated mortgages by allowing their conversion into the EUR. Serbian Finance Minister, Sinisa Mali said “The remainder of the debt will be converted into EUR and the converted amount would be reduced by 38 per cent.”

According to the proposed law the highest possible interest rate is 3.4 per cent plus the three-month or six-month EURIBOR, which means fixed interest rates cannot go higher than 4 per cent. It obliges banks to offer clients new contracts within 30 days of the law taking effect.

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What’s up in indexes

BET (of Bucharest) decreased from 8246.54 index points Tuesday, April 16th to 8245.08 index points Wednesday, April 17th. It’s down 0.17 per cent d/d and down 7.64 per cent y/y.

BUX (of Budapest) increased from 42826.00 index points Tuesday, April 16th to 43005.00 index points Wednesday, April 17th. It’s up 0.42 per cent d/d and up 12.7 per cent y/y.

OMXR (of Riga) decreased from 1021.52 index points Tuesday, April 16th to 1016.33 index points Wednesday, April 17th. It’s down 0.51 per cent d/d and down 2.43 per cent y/y.

OMXT (of Tallinn) decreased from 1251.63 index points Tuesday, April 16th to 1250.32 index points Wednesday, April 17th. It’s down 0.10 per cent d/d and down 0.54 per cent y/y.

OMXV (of Vilnius) decreased from 676.32 index points Tuesday, April 16th to 676.24 index points Wednesday, April 17th. It’s down 0.01 per cent d/d and down 3.75 per cent y/y.

PX (of Prague) increased from 1095.90 index points Tuesday, April 16th to 1096.97 index points Wednesday, April 17th. It’s up 0.10 per cent d/d and down 2.95 per cent y/y.

RTS (of Moscow) increased from 1255.45 index points Tuesday, April 16th to 1265.51 index points Wednesday, April 17th. It’s up 0.80 per cent d/d and up 12.8 per cent y/y.

SAX (of Bratislava) increased from 346.27 index points Tuesday, April 16th to 348.63 index points Wednesday, April 17th. It’s up 0.68 per cent d/d and up 1.36 per cent y/y.

SOFIX (of Sofia) decreased from 575.60 index points Tuesday, April 16th to 575.50 index points Wednesday, April 17th. It’s down 0.03 per cent d/d and down 12.97 per cent y/y.

UX (of Kyiv) closed at 1689.38 index points Wednesday, April 17th. It’s the same result as Tuesday’s. It’s 0 per cent change d/d and down 5.78 per cent y/y.

WIG20 (of Warsaw) increased from 2372.18 index points Tuesday, April 16th to 2378.31 index points Wednesday, April 17th. It’s up 0.26 per cent d/d and up 3.05 per cent y/y.

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