CSE countries increased military spending in 2018

(Pibwl, CC BY-SA 3.0)

Polish company begins gas production in Romania

Czech Republic to introduce digital tax next year

CSE

Ukraine and Poland increased military spending in 2018 by 21 per cent and 8.9 per cent respectively, while Russia cut it by 3.5 per cent, according to the Stockholm International Peace Research Institute (SIPRI).

SIPRI’s research shows that several other Central and Southeast European countries have made large increases in military expenditure including Bulgaria, Latvia and Lithuania, ranging from 18 per cent to 24 per cent in 2018.

The five biggest spenders in 2018 were the United States, China, Saudi Arabia, India and France, which together accounted for 60 per cent of global military spending

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Romania

Polish oil and gas company Serinus Energy announced the initiation of production at the Moftinu Gas Plant in Romania. The Moftinu gas field, discovered in 2014 and owned by Serinus, is 729,000 acre exploration block lying on a prolific oil and gas trend in the Eastern Pannonian Basin.

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Czech Republic

The Czech government is introducing a 7 per cent digital tax on large internet companies, such as Facebook and Google. According to the ministry of finance, the tax could add an additional CZK5bn (EUR200bn) a year to the state budget. The tax will be directed to internet business revenues and will not affect profits.

“The digital tax will apply to the most important global companies and responds to the failure of EU-level negotiations as well as the slow progress of finding a global solution,” Czech finance minister Alena Schillerová said.

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What’s up in indexes

BET (of Bucharest) decreased from 8462.25 index points Tuesday, April 30th to 8446.20 index points Thursday, May 2nd. It’s down 0.19 per cent d/d and down 3.26 per cent y/y.

BUX (of Budapest) decreased from 42520.11 index points Tuesday, April 30th to 42367.00 index points Thursday, May 2nd. It’s down 0.36 per cent d/d and up 11.6 per cent y/y.

OMXR (of Riga) increased from 1026.53 index points Tuesday, April 30th to 1027.05 index points Thursday, May 2nd. It’s up 0.05 per cent d/d and down 8.14 per cent y/y.

OMXT (of Tallinn) decreased from 1257.38 index points Tuesday, April 30th to 1254.64 index points Thursday, May 2nd. It’s down 0.22 per cent d/d and up 0.76 per cent y/y.

OMXV (of Vilnius) increased from 682.71 index points Tuesday, April 30th to 683.76 index points Thursday, May 2nd. It’s up 0.15 per cent d/d and down 3.04per cent y/y.

PX (of Prague) increased from 1068.72 index points Tuesday, April 30th to 1083.50 index points Thursday, May 2nd. It’s up 1.38 per cent d/d and down 2.99 per cent y/y.

RTS (of Moscow) decreased from 1248.39 index points Tuesday, April 30th to 1238.05 index points Thursday, May 2nd. It’s down 0.83 per cent d/d and up 8.93per cent y/y.

SAX (of Bratislava) increased from 358.96 index points Tuesday, April 30th to 359.19 index points Thursday, May 2nd. It’s up 0.06 per cent d/d and up 7.92 per cent y/y.

SOFIX (of Sofia) decreased from 575.06 index points Tuesday, April 30th to 572.10 index points Thursday, May 2nd. It’s up 0.51 per cent d/d and down 12.56 per cent y/y.

UX (of Kyiv) decreased from 1692.44 index points Tuesday, April 30th to 1679.29 index points Thursday, May 2nd. It’s down 0.78 per cent d/d and down 12.56 per cent y/y.

WIG20 (of Warsaw) decreased from 2334.21 index points Tuesday, April 30th to 2319.08 index points Thursday, May 2nd. It’s down 0.65 per cent d/d and up 1.19 per cent y/y.

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