China-CSE Summit in Dubrovnik

Polish and Chinese PMs, Mateusz Morawiecki and Li Keqiang (Krystian Maj/KPRM, Public domain)

Eurostat: Bulgaria has lowest labor costs in EU

Vladimir Putin’s official salary revealed

Poland and China

An annual summit between China and the CSE countries, commonly known as 16+1, was held in Dubrovnik, Croatia. The summit was dedicated to economic cooperation and development of projects that are part of the Chinese One Belt One Road initiative.

During the Summit Poland’s Prime Minister met with Chinese Prime Minister Li Keqiang, and they talked about intensifying cooperation in areas of economy and trade, agriculture, aviation and infrastructure construction. “China is willing to expand import of good-quality Polish products,” said Li Keqiang, adding that China welcomes Polish enterprises to explore the Chinese market.

Mr. Morawiecki said Poland welcomes Chinese enterprises to come and invest in several areas of economy, including the Central Communication Port. He also added that Poland is ready to cooperate with China in areas of agriculture, furniture, cosmetics, infrastructure construction, maritime industry and culture.

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Bulgaria

Bulgaria and Romania remained the two EU member states with the lowest hourly labor costs in 2018, despite an annual increase, Eurostat data shows. Bulgaria recorded the lowest hourly labor costs in the EU — EUR5.4, up 6.9 per cent y/y in 2018. Among EU-28, Romania recorded the second lowest hourly labor costs of EUR6.9, despite increase of 13.3 per cent y/y in 2018.

The EU states with the highest hourly labor costs in 2018 were Denmark (EUR43.5) and Luxembourg (EUR40.6).

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and more

Russia

According to the tax return posted on the Kremlin’s official website, President Vladimir Putin had less money last year than a year before. He earned RUB8.7m (EUR119,500) in 2018, down RUB10m (EUR137,400) compared with 2017.

As reported by the Russian news agency TASS, there were no changes as far as the real estate is concerned. Mr. Putin owns an 77 square meters apartment and also uses an apartment of 153.7 square meters. However, there are no additional assets and foreign properties on the list, which critics say does not outline the true wealth of Russia’s president.

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What’s up in indexes

BET (of Bucharest) decreased from 8318.04 index points Thursday, April 11th to 8267.38 index points Friday, April 12th. It’s down 0.73 per cent d/d and down 7.40 per cent y/y.

BUX (of Budapest) increased from 42694.00 index points Thursday, April 11th to 42940.74 index points Friday, April 12th. It’s up 0.58 per cent d/d and up 12.0 per cent y/y.

OMXR (of Riga) decreased from 968.58 index points Thursday, April 11th to 963.18 index points Friday, April 12th. It’s down 0.56 per cent d/d and down 6.97 per cent y/y.

OMXT (of Tallinn) increased from 1243.58 index points Thursday, April 11th to 1249.10 index points Friday, April 12th. It’s up 0.44 per cent d/d and down 0.98 per cent y/y.

OMXV (of Vilnius) increased from 675.62 index points Thursday, April 11th to 677.77 index points Friday, April 12th. It’s up 0.32 per cent d/d and down 4.10 per cent y/y.

PX (of Prague) increased from 1091.03 index points Thursday, April 11th to 1104.47 index points Friday, April 12th. It’s up 1.23 per cent d/d and down 2.41 per cent y/y.

RTS (of Moscow) increased from 1245.17 index points Thursday, April 11th to 1253.44 index points Friday, April 12th. It’s up 0.66 per cent d/d and up 11.4 per cent y/y.

SAX (of Bratislava) closed at 350.40 index points Friday, April 12th. It’s the same result as Thursday’s. It’s 0 per cent change d/d and up 1.22 per cent y/y.

SOFIX (of Sofia) decreased from 579.00 index points Thursday, April 11th to 575.13 index points Friday, April 12th. It’s down 0.67 per cent d/d and down 13.00 per cent y/y.

UX (of Kyiv) decreased from 1743.51 index points Thursday, April 11th to 1690.91 index points Friday, April 12th. It’s down 3.02 per cent d/d and down 5.47 per cent y/y.

WIG20 (of Warsaw) decreased from 2374.97 index points Thursday, April 11th to 2366.71 index points Friday, April 12th. It’s down 0.35 per cent d/d and up 2.61 per cent y/y.

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