Czech Minister of Industry doesn’t agree with the ČEZ split

ČEZ power plant, Czech Republic (ČEZ, Public domain)

Romania: British investment of USD2.6m in mining projects

Poland’s PM talked EU budget with European Commissioner Günther Oettinger

Czech Republic

It is almost sure that the discussed split of Czechs ČEZ company will not be hapenning. Radio Praha informs that Tomáš Hüner, Minister of Industry and Trade, said in an interview with Hospodářske Noviny that the idea “was stupid”. He also added that it doesn’t make sense to separate the distribution which is “one of ČEZ’s most profitable areas and a steady earner for the company”.

In February 2018 the executives of the Czech power giant announced that they plan to divide the company into two entities to “separate nuclear and conventional sources from distribution and new forms of energy”.

The State Treasury is supposed to retain control over the firm’s coal, nuclear and gas operations and the new-born entity would handle renewable energy and distribution (the state was supposed to hold 51 per cent stake in it).

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Romania

Romania Insider reports that a British company Vast Resources will invest USD2.6m in Romanian mining projects. The company already runs two polymetallic mines in the north of the country: at Manaila (in Suceava county) and Baita (in Bihor county). As the portal informs, the project in Suceava is already producing while the other is still pending due to legal issues.

Romania Insider quotes Andrew Prelea, CEO of Vast Resources: “We look forward to grow our business in Romania and invest in upgrading Manaila, looking for further opportunities and being a part of restarting the industry”.

Vast Resources announced that in 2018 the construction of the metallurgical complex in the proximity of the Manaila mine will take place. It should reduce transport costs, improve efficiencies and increase production capacity.

Romania ranks 10th in the world when it comes to the diversity of minerals produced in the country.

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Poland

Polish Radio reports on Poland’s Prime Minister Mateusz Morawiecki meeting with European Commissioner Günther Oettinger. The officials met discussed the next long-term budget of the European Union. As reported, Mr. Morawiecki “briefed Oettinger on Poland’s key proposals for the bloc’s future budget”. Poland’s Prime Minister, along with the PMs of the Baltic States, opts for increasing the EU budget.

The PM’s office said in a statement that he “pointed out that Poland is in favor of an ambitious EU budget, one that will take into account the positive impacts of cohesion policy and Common Agricultural Policy.”

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What’s up in indexes

BET (of Bucharest) increased from 8,660.99 index points Friday, March 23rd to 8,712.03 index points Monday, March 26th. It’s up 0.75 per cent d/d and up 9.43 per cent y/y.

BUX (of Budapest) increased from 36,940.37 index points Friday, March 23rd to 37,188 index points Monday, March 26th. It’s up 0.67 per cent d/d and up 16.66 per cent y/y.

CROBEX (of Zagreb) decreased from 1,829.21 index points Friday, March 23rd to 1,817.36 index points Monday, March 26th. It’s down 0.65 per cent d/d and down 11.84 per cent y/y.

OMXR (of Riga) increased from 1,040.16 index points Friday, March 23rd to 1,040.42 index points Monday, March 26th. It’s up 0.02 per cent d/d and up 35.04 per cent y/y.

OMXT (of Tallinn) decreased from 1,309.81 index points Friday, March 23rd to 1,267.97 index points Monday, March 26th. It’s down 3.19 per cent d/d and up 12.60 per cent y/y.

OMXV (of Vilnius) decreased from 688.95 index points Friday, March 23rd to 688.23 index points Monday, March 26th. It’s down 0.10 per cent d/d and up 22.45 per cent y/y.

Monday was a non-trading day at Prague Stock Exchange. PX (of Prague) closed at 1,107.72 index points Friday, March 23rd. It’s down up 12.95 per cent y/y.

SAX (of Bratislava) decreased from 337.03 index points Friday, March 23rd to 332.60 index points Monday, March 26th. It’s down 1.31 per cent d/d and up 8.30 per cent y/y.

SOFIX (of Sofia) decreased from 661.77 index points Friday, March 23rd to 653.82 index points Monday, March 26th. It’s down 1.20 per cent d/d and up 2.43 per cent y/y.

UX (of Kyiv) increased from 1,645.08 index points Friday, March 23rd to 1,673.08 index points Monday, March 26th. It’s up 1.70 per cent d/d and up 71.86 per cent y/y.

WIG20 (of Warsaw) decreased from 2,257.22 index points Friday, March 23rd to 2,240.65 index points Monday, March 26th. It’s down 0.73 per cent d/d and up 0.26 per cent y/y.

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