Croatia agrees on Serbian EU accession

Zagreb, Croaita (Miroslav Vajdic, CC BY-SA)

Ukraine cancels the obligatory registration of investments

Hungarian opposition: 2017 pension rise “humiliating”

Kaufland in Romania with the turnover of EUR2bn

Croatia

Croatia won’t be blocking Serbian accession to European Union. On June 1st, the country  officially agreed to the opening of Chapter 23 in Serbia’s EU accession talks. Chapter 23 covers the rule of law and fundamental rights. The opening of negotiating requires the consent of all the 28 EU member states. Till now it was blocked by Croatia, the only member-state that wasn’t eager to give its consent.

According Novinite.com „a Croatian representative said in early May that his country couldn’t agree to the opening of Chapter 23, reiterating Croatia’s position that Serbia must first scrap its law on universal jurisdiction in war crimes cases committed in the former Yugoslavia, and secure representation of ethnic Croats in parliament.”

Other 27 EU countries negotiated with Croatia pointing out that the country’s parliament has adopted a resolution “not to block neighbors in their EU integration over bilateral issues that are not a part of EU legislation”. Miro Kovač, Croatian Foreign Minister, finally confirmed his country approves the opening of Chapter 23.

Serbia got the status of EU candidate in March 2012. It was earlier identified as a potential candidate for EU membership (along with 5 other Western Balkan countries) in 2013 – during the Thessaloniki European Council.

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Ukraine

The Ukrainian Parliament adopted a law “on amendments to some legislative acts regarding the cancellation of mandatory state registration of foreign investments”. According to the new law the foreign companies that want to invest in Ukraine won’t be obliged to be state-registered.

„The Law abolishes Article 395 of the Commercial Code of Ukraine, which regulates the procedure regarding state registration of foreign investments and also amends the Law of Ukraine <<On the Regime of Foreign Investments>>,” Lexology.com writes.

Lexology also informs: „In detail, the Law cancels the requirement that foreign investments be state registered, which was previously mandatory in order for foreign investors to enjoy the benefits and guarantees provided under the Law of Ukraine <<On the Regime of Foreign Investments>> (e.g. prohibition of nationalization, guarantee of foreign investments return upon termination of investment activities etc.).” The new law has to be signed by the President. It will take effect after signing and official promulgation.  

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Hungary

We have already reported on the 2017 pension rise planned by Hungarian government. As the Daily News Hungary informs, the opposition to Victor Orban’s Fidesz doesn’t like the idea. The portal quotes József Tóbiás, the Socialist Party leader, saying the pension rise of 0.9 per cent is “humiliating” and “unfair”.

The Daily News Hungary writes: „Tóbiás explained next year’s pension plan, which would increase pensions by an average of HUF1000 (EUR3.19), indicated that the government has <<given up>> on pensioners. Meanwhile, the government plans to raise the salaries of state-owned company executives and the central bank governor by 150 per cent”. The Socialist Party demands a 2.4 per cent pension raise in 2017.

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Romania

German retailer Kaufland reported a turnover of over EUR2bn in Romania in 2015. It’s up 14.6 per cent compared to the previous year. Romania-Insider writes it’s the first local retailer that has exceed the EUR2bn threshold. For Kaufland it was the biggest sales increase in the last 3 years. When it comes to profits it recorded a net profit of EUR146.1m in 2015, up 58 per cent compared to 2014. In 2014, the company had over 100 hypermarkets in Romania.

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What’s up in indexes?

BUX (od Budapest) increased from 26989.59 index points Wednesday, June 1st to 27208.42 index points Thursday, June 2nd. So it’s up 0.81 per cent d/d and up 13.74 per cent from yar-end.

BET (of Bucharest Stock Exchange) was up 1.70 per cent – increasing from 6469.55 index points Wednesday, June 1st to 6574.40 index points Thursday, June 2nd. From year-end it lost 6.14 per cent.

PX (of Prague) increased from 888.21 index points Wednesday, June 1st to 888.41 index points Thursday, June 2nd. So it’s up 0.02 per cent d/d. From year-end it lost 7.10 per cent. WIG20 (of Warsaw) increased from 1759.49 index points Wednesday, June 1st to 1762.28 index points Thursday, June 2nd. So it’s up 0.16 per cent d/d. From year-end it dropped by 5.21 per cent.

OMXT (of Tallinn) increased from 991.34 index points Wednesday, June 1st to 995.34 index points Thursday, June 2nd. So it’s up 0.40 per cent d/d. From year-end it’s up 10.72 per cent.

OMXR (of Riga) decreased from 636.63 index points Wednesday, June 1st to 646.77 index points Thursday, June 2nd. So it’s up 1.59 per cent d/d. From year-end it’s up 8.82 per cent.

OMXV (of Vilnius) was up 0.23 per cent – increasing from 513.97 index points Wednesday, June 1st to 515.13 index points Thursday, June 2nd. From year-end it’s up 6.00 per cent.

SAX (of Bratislava) increased from 318.95 index points Wednesday, June 1st to 318.96 index points Thursday, June 2nd. So the change was close to zero. From year-end it’s up 9.10 per cent.

SOFIX (of Sofia) lost 0.64 per cent – decreasing from 443.11 index points Wednesday, June 1st to 445.95 index points June 2nd Thursday, June 2nd. From year-end the index lost 3.24 per cent.

UX (of Kyiv) climbed from 625.12 index points Wednesday, June 1st to 641.19 index points Thursday, June 2nd. So it’s up 2.57 index points. From year-end the index lost 6.51 per cent.

CROBEX (of Zagreb Stock Exchange) decreased from 1712.03 index points Wednesday, June 1st to 1711.32 index points Thursday, June 2nd. So it dropped by 0.04 per cent. From year-end it grew by 1.28 per cent.

 

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