ECJ backs Polish consumers over CHF-denominated mortgages

The European Court of Justice, Luxembourg (Transparency International, CC BY-NC-ND 2.0)

Estonia tops CSE for controlling corruption

Russia registered slowdown in oil demand

Poland

The European Court of Justice (ECJ) ruled that Polish consumers who have CHF-denominated mortgages may go to national courts to cancel those agreements. ECJ ruled that unfair terms in a mortgage agreement could not be replaced by general provisions of the Polish law. It added that, if removing these unfair clauses changed the original contract in a way that was inadmissible under the Polish law, EU law did not preclude them being annulled. 

The Polish Financial Supervision Authority (KNF) said that Poland’s banking sector is well prepared for the possible negative outcomes of the ruling because it is well capitalized.

Read more

and more

Estonia

According to World Bank Worldwide Governance Indicator Estonia controls corruption better than any other country in the Central and Southeast Europe.

Estonia tops the CSE countries with a score of 89.9 percentage points. Slovenia was ranked the second with 80.77, with Georgia the third on 76.44. Poland and the Czech Republic made it to the top five, with scores of 74.52 and 69.23, respectively.

Ukraine has been ranked the lowest, with 18.27 percentage points.

Read more

Russia

“We see that this year, compared to 2018, under the influence of various factors, oil demand will be significantly lower,” Russian Energy Minister Alexander Novak said, noting that the demand growth will amount to 1-1.1 million barrels per day, while last year it amounted to 1.5 million barrels per day, TASS agency informed.

According to Mr. Novak the slowdown in economic growth in the United States, the European Union, and China has seriously affected the oil demand.

Read more

What’s up in indexes

BET (of Bucharest) increased from 9480.86 index points Wednesday, October 2nd to 9459.86 index points Thursday, October 3rd. It’s up 0.36 per cent d/d and up 11.4 per cent y/y.

BUX (of Budapest) increased from 39417.00 index points Wednesday, October 2nd to 39548.00 index points Thursday, October 3rd. It’s up 0.33 per cent d/d and up 6.27 per cent y/y.

OMXR (of Riga) decreased from 1037.10 index points Wednesday, October 2nd to 1034.20 index points Thursday, October 3rd. It’s down 0.28 per cent d/d and up 5.63 per cent y/y.

OMXT (of Tallinn) decreased from 1238.61 index points Wednesday, October 2nd to 1236.19 index points Thursday, October 3rd. It’s down 0.20 per cent d/d and up 1.15 per cent y/y.

OMXV (of Vilnius) decreased from 691.26 index points Wednesday, October 2nd to 689.80 index points Thursday, October 3rd. It’s down 0.21 per cent d/d and up 1.36 per cent y/y.

PX (of Prague) decreased from 1010.03 index points Wednesday, October 2nd to 1005.48 index points Thursday, October 3rd. It’s down 0.45 per cent d/d and down 9.19 per cent y/y.

RTS (of Moscow) decreased from 1313.75 index points Wednesday, October 2nd to 1307.01 index points Thursday, October 3rd. It’s down 0.51 per cent d/d and up 9.28 per cent y/y.

SAX (of Bratislava) increased from 341.33 index points Wednesday, October 2nd to 343.20 index points Thursday, October 3rd. It’s up 0.55 per cent d/d and up 4.31 per cent y/y.

SOFIX (of Sofia) decreased from 568.50 index points Wednesday, October 2nd to 565.00 index points Thursday, October 3rd. It’s down 0.62 per cent d/d and down 9.19 per cent y/y.

UX (of Kyiv) increased from 1526.26 index points Wednesday, October 2nd to 1531.33 index points Thursday, October 3rd. It’s up 0.33 per cent d/d and down 7.31 per cent y/y.

WIG20 (of Warsaw) increased from 2098.28 index points Wednesday, October 2nd to 2099.30 index points Thursday, October 3rd. It’s up 0.05 per cent d/d and down 8.65 per cent y/y.

Share this post

TOP