Croatia: the same-new Croatian National Bank’s Governor

HNB headquarters, Zagreb, Croatia (Croatian National Bank, CC BY)

Latvia: ABLV Bank with no license

Bulgarian Sofia among the 20 cities with the fastest growing prices of houses

Croatia

Boris Vujčić, the head of the Croatian National Bank (HNB), whose term as HNB Governor expired on July 8th 2018, will remain in his office. The Total-Croatia-News informs that the parliament’s Elections, Appointments and Administration Committee and Finance and State Budget Committee “supported by a majority vote the proposed candidates” for the leadership of the institution. The proposal has to be confirmed by the parliament. As reported, Sandra Švaljek will become the deputy Governor (previously she was the head of the Institute of Economics) and Slavko Tešija, Roman Šubic and Martina Drvar would be vice-Governors.

Mr. Vujčić will lead the HNB for the next 6 years.

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Latvia

Leta agency informs, after Latvian financial regulator, that the Finance and Capital Market Commission (FCMC) withdrew the banking license of the ABLV Bank. As reported, the European Central Bank (ECB) “has adopted a decision to withdraw the authorization of ABLV Bank, effective as of midnight on July 11th”. ABLV Bank’s shareholders decided that their intent is to implement a voluntary liquidation procedure. The FCMC authorized the commencement of voluntary liquidation process.

Peters Putnins, FCMC Chairman, said: “This is an intentional and logical step in the process of ABLV Bank’s voluntary liquidation and it does not in any way affect the course of voluntary liquidation. The FCMC continues supervision of the voluntary liquidation process according to the approved plan and procedures”.

In February 2018, the FCMC ordered ABLV Bank to stop all payments, following a report by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury about ABLV Bank’s involvement in international money laundering and corruption.

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Bulgaria

Novinite.com informs that Sofia ranks the 18th in an international report on the fastest rise in real estate prices compared to cities in 150 countries, released by the consulting company Knight Frank. As reported, Sofia is in the 1st place and 0.1 percentage points ahead of San Francisco, which is 19th with an increase of 11.2 per cent.

“The survey shows that the rise of European cities continues—11 of the cities in the first twenty are in the Old Continent. In Rotterdam (The Netherlands) the prices grew by 14.8 per cent, in Edinburgh (Scotland) by 12 per cent, in Porto (Portugal) by 11.7 per cent, and in Sofia (Bulgaria) by 11.3 per cent. Those countries joined long-time leaders Berlin, Germany (up 14.9 per cent) and Reykjavik, Island (up 11.8 per cent).

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What’s up in indexes

BET (of Bucharest) increased from 7,881.21 index points Tuesday, July 10th to 7,894.26 index points Wednesday, July 11th. It’s up 0.23 per cent d/d and down 3.23 per cent y/y.

BUX (of Budapest) decreased from 35,403.20 index points Tuesday, July 10th to 35,063.07 index points Wednesday, July 11th. It’s down 0.96 per cent d/d and down 1.92 per cent y/y.

CROBEX (of Zagreb) decreased from 1,812.33 index points Tuesday, July 10th to 1,809.68 index points Wednesday, July 11th. It’s down 0.15 per cent d/d and down 0.53 per cent y/y.

OMXR (of Riga) decreased from 1,055.61 index points Tuesday, July 10th to 1,050.16 index points Wednesday, July 11th.  It’s down 0.52 per cent d/d and up 7.04 per cent y/y.

OMXT (of Tallinn) decreased from 1,261.11 index points Tuesday, July 10th to 1,258.78 index points Wednesday, July 11th. It’s down 0.18 per cent d/d and up 7.51 per cent y/y.

OMXV (of Vilnius) decreased from 709.53 index points Tuesday, July 10th to 708.60 index points Wednesday, July 11th. It’s down 0.13 per cent d/d and up 16.79 per cent y/y.

PX (of Prague) decreased from 1,088.89 index points Tuesday, July 10th to 1,088.33 index points Wednesday, July 11th. It’s down 0.05 per cent d/d and up 9.18 per cent y/y.

SAX (of Bratislava) closed at 330.79 index points Wednesday, July 11th. It’s 0 per cent change d/d and down 1.18 per cent y/y.

SOFIX (of Sofia) decreased from 629.05 index points Tuesday, July 10th to 624.94 index points Wednesday, July 11th. It’s down 0.65 per cent d/d and down 11.83 per cent y/y.

UX (of Kyiv) increased from 1,571.70 index points Tuesday, July 10th to 1,576.78 index points Wednesday, July 11th. It’s up 0.32 per cent d/d and up 49.08 per cent y/y.

WIG20 (of Warsaw) decreased from 2,177.67 index points Tuesday, July 10th to 2,154.28 index points Wednesday, July 11th. It’s down 1.07 per cent d/d and down 6.24 per cent y/y.

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