Estonia wants to limit renewable energy subsidies

(Ed Suominen, CC BY-NC)

German Sennheiser opened a factory in Romania

Lukashenko urges to diversify trade

Estonia

Estonia will start renewable energy underbidding at the end of the year. Those electricity producers that are asking for less support have a better chance of receiving support, according the news portal of public broadcaster ERR

Timo Tatar from the Ministry of Economic Affairs and Communications, told ERR that the support will decrease drastically as investments are becoming cheaper. “Technology prices have decreased a lot and this kind of underbidding mechanism, if enough competition is guaranteed, should lower the subsidies rate in Estonia several times,” he said.

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Romania

German audio equipment manufacturer, Sennheiser said it has officially opened its new plant in Brasov, in central Romania, Seenews web site informed. The factory with 116 employees focuses on assembling both professional and consumer electronics products. The plant already manufactures key Sennheiser models, such as the HD 25 DJ headphones, as well as professional products including the new XSW-D wireless microphone series.

The establishment of the Brasov plant is part of Sennheiserʼs strategy to focus and specialize its four production sites, the company informed.

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Belarus

Belarus’ trade turnover has dropped due to the problems with Russian oil supplies, the country’s President Alexander Lukashenko said and added that the republic’s economy needs diversification.

“Our export and trade turnover largely depend on supplies of petroleum products, and trade turnover slightly decreased after the Druzhba oil pipeline failure and problems with contaminated oil, which is why we need diversification,” the president was quoted by the BelTA news agency.

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What’s up in indexes

BET (of Bucharest) decreased from 9023.49 index points Tuesday, August 6th to 9024.59 index points Wednesday, August 7th. It’s down 0.03 per cent d/d and up 10.2 per cent y/y.

BUX (of Budapest) increased from 39896.00 index points Tuesday, August 6th to 40037.00 index points Wednesday, August 7th. It’s up 0.35 per cent d/d and up 7.45 per cent y/y.

OMXR (of Riga) decreased from 1040.93 index points Tuesday, August 6th to 1037.73 index points Wednesday, August 7th. It’s down 0.31 per cent d/d and up 1.62 per cent y/y.

OMXT (of Tallinn) increased from 1265.35 index points Tuesday, August 6th to 1266.88 index points Wednesday, August 7th. It’s up 0.12 per cent d/d and up 0.70 per cent y/y.

OMXV (of Vilnius) decreased from 695.29 index points Tuesday, August 6th to 693.08 index points Wednesday, August 7th. It’s down 0.32 per cent d/d and down 2.89 per cent y/y.

PX (of Prague) decreased from 1025.54 index points Tuesday, August 6th to 1022.85 index points Wednesday, August 7th. It’s down 0.26 per cent d/d and down 6.21 per cent y/y.

RTS (of Moscow) increased from 1282.29 index points Tuesday, August 6th to 1294.50 index points Wednesday, August 7th. It’s up 0.95 per cent d/d and up 13.7 per cent y/y.

SAX (of Bratislava) increased from 344.80 index points Tuesday, August 6th to 348.41 index points Wednesday, August 7th. It’s up 1.05 per cent d/d and up 9.65 per cent y/y.

SOFIX (of Sofia) decreased from 581.30 index points Tuesday, August 6th to 579.90 index points Wednesday, August 7th. It’s down 0.26 per cent d/d and down 9.31 per cent y/y.

UX (of Kyiv) closed at 1619.90 index points Wednesday, August 6th. It’s the same result as Tuesday’s. It’s 0 per cent change d/d and down 1.54 per cent y/y.

WIG20 (of Warsaw) decreased from 2164.14 index points Tuesday, August 6th to 2156.23 index points Wednesday, August 7th. It’s down 0.37 per cent d/d and down 6.08 per cent y/y.

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