Estonia and Finland plan an undersea railway tunnel

(FinEstBayArea, Public domain)

EU provides EUR500m of assistance to Ukraine

CSE among the most dynamic high-tech centers in Europe

Estonia

“Railway tunnel between Tallinn and Helsinki is a project of a national importance for Estonia,” Estonian Minister of Economic Affairs and Infrastructure Kadri Simson said. With over eight million people travelling by sea between Helsinki and Tallinn every year, a consortium of companies “FinEstBayArea” is planning to build an undersea railway tunnel between these two cities.

The idea of such a tunnel has been around since the 1990s and has been regularly discussed by both governments. A feasibility study, commissioned by the two governments, was published in 2017 and projected that the tunnel could be open in 2040.

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Ukraine

The European Union (EU) will provide a second tranche of the macro financial assistance with EUR500m, Ukrinform press service reports. “In late March-early April, it’s realistic to receive these funds. We are currently working on the fulfillment of necessary conditions,” Ukrainian Finance Minister Oksana Markarova said.

Under the program, approved by the European Parliament and the European Council in July 2018, up to EUR1bn of financial assistance is available to Ukraine. The program helps Ukraine cover its financing needs and supports the implementation of structural reforms. “This is an important and encouraging sign that Ukraine continues to implement reforms despite the current security environment and the upcoming electoral cycle,” Pierre Moscovici, Commissioner in charge of Economic and Financial Affairs, Taxation and Customs, said.

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Central and Southeast Europe

The number of high-tech professionals working in Bucharest, as a share of total population, is twice as high as the European Union’s average, according to a study by a real estate consulting firm CBRE. “Employment in Bucharest’s tech sector has experienced growth of 66 per cent since 2008, meaning that the city has some of the strongest sector growth in Europe,” the authors of the report wrote.

Other CSE cities mentioned in the document are Prague, with high tech sector employment concentration almost three times the EU average, and Krakow which also experienced the huge growth in tech employment since 2008 (66 per cent). CBRE study also describes Tallinn as a center for technology innovation and a strong start-up environment, and Vilnius as the primary technology center in the Baltic region.

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What’s up in indexes

BET (of Bucharest) increased from 7,378.64 index points Monday, February 11th to 7,472.38 index points Tuesday, February 12th. It’s up 1.42 per cent d/d and down 7.86 per cent y/y.

BUX (of Budapest) increased from 39,755.00 index points Monday, February 11th to 40,488.00 index points Tuesday, February 12th. It’s up 1.81 per cent d/d and up 5.75 per cent y/y.

CROBEX (of Zagreb) decreased from 1,750.20 index points Monday, February 11th to 1,750.00 index points Tuesday, February 12th. It’s down 0.01 per cent d/d and down 4.06 per cent y/y.

OMXR (of Riga) decreased from 997.55 index points Monday, February 11th to 991.00 index points Tuesday, February 12th. It’s down 0.66 per cent d/d and down 0.90 per cent y/y.

OMXT (of Tallinn) decreased from 1,221.79 index points Monday, February 11th to 1,218.02 index points Tuesday, February 12th. It’s down 0.31 per cent d/d and down 4.53 per cent y/y.

OMXV (of Vilnius) decreased from 643.36 index points Monday, February 11th to 641.18 index points Tuesday, February 12th. It’s down 0.34 per cent d/d and down 4.60 per cent y/y.

PX (of Prague) increased from 1,046.43 index points Monday, February 11th to 1,057.32 index points Tuesday, February 12th. It’s up 1.04 per cent d/d and down 4.79 per cent y/y.

SAX (of Bratislava) increased from 335.24 index points Monday, February 11th to 337.22 index points Tuesday, February 12th. It’s up 0.59 per cent d/d and up 2.54 per cent y/y.

SOFIX (of Sofia) decreased from 573.40 index points Monday, February 11th to 573.30 index points Tuesday, February 12th. It’s down 0.02 per cent d/d and down 17.71 per cent y/y.

UX (of Kyiv) increased from 1,696.45 index points Monday, February 11th to 1,696.71 index points Tuesday, February 12th. It’s up 0.02 per cent d/d and up 17.1 per cent y/y.

WIG20 (of Warsaw) increased from 2,354.28 index points Monday, February 11th to 2,370.99 index points Tuesday, February 12th. It’s up 0.71 per cent d/d and down 1.80 per cent y/y.

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