Denmark gives a go ahead to Nord Stream 2

(Nord Stream 2, Public domain)

Romanian coal and power producer files for insolvency

Russia refused financial assistance to Belarus

Russia

The Danish Energy Agency said it has granted a permit for Nord Stream 2 AG to build a section of the Nord Stream 2 pipeline in Danish waters southeast of Bornholm in the Baltic Sea. “The permit is granted pursuant to the Continental Shelf Act and in accordance with Denmark’s obligations under the UN Convention on the Law of the Sea,” the agency said.

Until now Denmark was the only country that had not issued a permit for the pipeline, a controversial project opposed by Poland and Ukraine. More than 80 per cent of the pipeline is already constructed. Its commissioning was scheduled for the end of 2019, TASS news agency informed.

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Romania

Hunedoara Energy Complex, a state-owned company with 4,000 employees, which generates around 5 per cent of Romania’s electricity, has filed for insolvency proceedings, Romanian media reported. Despite the state aid the company had enjoyed over the time, Hunedoara has posted losses of over RON270m (EUR56m) in H1’19 and total debts of over RON1.6bn (EUR570m).

Furthermore, the European Commission decided that four loans totaling EUR50m that the Romanian government had extended to the company represented illegal state aid and asked the authorities to recover the amount.

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Belarus

The Eurasian Fund for Stabilization and Development, a Russian-managed fund established by the Eurasian Development Bank, has refused to provide Belarus with the last, seventh tranche of a USD2bn loan, the Belarusian press has reported. “The loan availability has already expired, a new loan is not being negotiated” BelaPAN news agency reports citing sources in financial circles.

According to BelaPAN, Russia links discussing the financial issues with the program of deepening the two countries integration.

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What’s up in indexes

BET (of Bucharest) decreased from 9687.21 index points Tuesday, October 29th to 9685.02 index points Wednesday, October 30th. It’s down 0.23 per cent d/d and up 14.1 per cent y/y.

BUX (of Budapest) increased from 42034.11 index points Tuesday, October 29th to 42797.00 index points Wednesday, October 30th. It’s up 0.81 per cent d/d and up 17.4 per cent y/y.

OMXR (of Riga) decreased from 1026.93 index points Tuesday, October 29th to 1019.44 index points Wednesday, October 30th. It’s down 0.44 per cent d/d and up 8.95 per cent y/y.

OMXT (of Tallinn) increased from 1244.56 index points Tuesday, October 29th to 1248.06 index points Wednesday, October 30th. It’s up 0.05 per cent d/d and up 5.09 per cent y/y.

OMXV (of Vilnius) increased from 701.47 index points Tuesday, October 29th to 702.32 index points Wednesday, October 30th. It’s up 0.14 per cent d/d and up 7.37 per cent y/y.

PX (of Prague) decreased from 1062.54 index points Tuesday, October 29th to 1061.88 index points Wednesday, October 30th. It’s down 0.03 per cent d/d and up 1.15 per cent y/y.

RTS (of Moscow) increased from 1421.20 index points Tuesday, October 29th to 1431.90 index points Wednesday, October 30th. It’s up 0.55 per cent d/d and up 29.5 per cent y/y.

SAX (of Bratislava) decreased from 346.77 index points Tuesday, October 29th to 346.07 index points Wednesday, October 30th. It’s down 0.20 per cent d/d and up 3.85 per cent y/y.

SOFIX (of Sofia) decreased from 558.41 index points Tuesday, October 29th to 555.80 index points Wednesday, October 30th. It’s down 0.09 per cent d/d and down 6.24 per cent y/y.

UX (of Kyiv) decreased from 1533.47 index points Tuesday, October 29th to 1509.86 index points Wednesday, October 30th. It’s down 0.27 per cent d/d and down 13.13 per cent y/y.

WIG20 (of Warsaw) decreased from 2230.11 index points Tuesday, October 29th to 2227.38 index points Wednesday, October 30th. It’s down 0.02 per cent d/d and up 3.85 per cent y/y.

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