Estonian consumer confidence improves

Singers parade, Tallinn, Estonia (Stephen Colebourne, CC BY)

Power rates in Ukraine are uncompetitive, says PM

Moldova is restructuring its banking system

British company invests EUR40m in residential complex near Bucharest

Estonia

„Estonian consumer confidence showed a m/m improvement of 1 point in September, measuring -5 points; in September 2015 the confidence indicator was -7 points,” the Baltic Course reports after the Estonian Institute of Economic Research.

The Baltic Course also informs the consumers’ assessments of the economic situation of their household in the next 12 months will improve by 1 point to 5 points. In September 2015 the indicator was 3 points.

>>More

Ukraine

Power rates for industry in Ukraine are uncompetitive, said Ukrainian Prime Minister Volodymyr Groysman. The Interfax reports that in the spring 2017 the National Commission on Energy, Housing and Utilities Services Regulation (NCER) is planning to abolish cross-subsidization of the power sector as the industrial consumers subsidize the difference of the power rates for private households.

„The prices that are now paid by the industry are not competitive. The share of electricity, in terms production costs of different products, is high. Now we need to find solutions to optimize power rates. I think this is a problem that should be settled by the end of the new year,” Groysman said.

>>More

Moldova

Moldovan government adopted a package of seven laws, meant for “the consolidation and cleaning of the banking sector”. Under the new law the country will pay MDL15,5bn (EUR700m) for unpaid loans of the three failed banks: Banca de Economii, Banca Socială and Unibank.

Romania Insider lists the modifications: the law for the recovery and resolution of the banks, the law connected to the resolution of banks, the law regarding the central depository of mobile values, the changes to the state budget, the law of the state social insurance, the law of funds for obligatory medical insurance, and the law regarding the emissions of obligations by the Finance Ministry from 2004 and 2015.

Now the Government of Moldova will allocate from the state budget the sum of MDL13,58bn (EUR613.2m) in 25 years with a 5 per cent interest rate. It is unclear why the government has to transfer the money to the central bank, a state institution, for loans unpaid by private banks. The restructuring is a part of the agreement with the International Monetary Fund.

>>More

Romania

Romania Insider report on a new EUR40m real estate investment near Bucharest. The project is called Dumbrava Vlasiei and it is located in Balotesti on a 90 ha area. The development plan provides five villages connected by a green corridor. The first four houses have already been bought and will be built in 2017. The prices start at EUR250,000.

„It is the first project developed by Loreco Investments on the local market. The company previously developed similar projects in the UK,” the Romania Insider reports. Loreco Investments is a family business founded by a Romanian investor Ray Muraru.

>>More

What’s up in indexes

BUX (of Budapest) dropped by 1.55 per cent – falling from 28120.09 index points Friday, September 23rd to 27685.30 index points Monday, September 26th. From year-end it’s up 15.74 per cent.

BET (of Bucharest Stock Exchange) dropped by 0.60 per cent d/d and by 0.67 per cent from year-end. It decreased from 7000.27 index points Friday, September 23rd to 6955.06 index points Monday, September 26th.

PX (of Prague Stock Exchange) dropped by 0.57 per cent d/d and by 9.12 per cent from year-end. It decreased from 874.05 index points Friday, September 23rd to 869.10 index points Monday, September 26th.

WIG20 (of Warsaw) dropped by 1.27 per cent d/d and by 6.41 per cent from year-end. It decreased from 1762.48 index points Friday, September 23rd to 1740.05 index points Monday, September 26th.

OMXT (of Tallinn) dropped by 0.71 per cent – falling from 999.32 index points Friday, September 23rd to 992.27 index points Monday, September 26th. From year-end it’s up 10.38 per cent.

OMXR (of Riga) dropped by 1.62 per cent d/d – falling from 734.97 index points Friday, September 23rd to 723.06 index points Monday, September 26th. From year-end it’s up 21.66 per cent.

OMXV (of Vilnius) was up 0.05 per cent d/d and up 11.55 per cent from year-end. It increased from 541.86 index points Friday, September 23rd to 542.12 index points Friday, September 26th.

SAX (od Bratislava) dropped by 1.75 per cent – falling from 324.96 index points Friday, September 23rd to 319.26 index points Monday, September 26th. From year-end it’s up 9.20 per cent.

Monday, September 26th SOFIX closed at 487.63 index points. It’s up 0.56 per cent. From year-end it’s up 5.80 per cent. On Wednesday, September 21st SOFIX closed at 484.93.

UX (of Kyiv) was up 1.93 per cent d/d and up 21.00 per cent from year-end. It increased from 814.21 index points Friday, September 23rd to 829.92 index points Monday, September 26th.

CROBEX (of Zagreb) was 0.61 per cent – increasing from 1938.17 index points Friday, September 23rd to 1937.71 index points Monday, September 26th. From year-end it’s up 15.35 per cent.

Share this post

TOP