Expansion of Mercedes plant in Hungary suspended

Mercedes-Benz plant, Kecskemét, Hungary (©Daimler.com)

New investment program in Slovenia

Russia and China to sign a deal for two nuclear reactors

Hungary

Daimler has temporarily suspended the expansion of its flagship car manufacturing plant in Kecskemét, Hungary, due to a decline in car demand on the global market, news site index.hu reported. “Despite the temporary suspension, we are still counting on the expansion of the plant in Kecskemét. The previously set goal is not in danger, and the plan to start production in the new facility in 2020 is still on track,” Orsolya Ludvig, communications director of the Kecskemét factory, commented the news.

The automotive industry accounts for 27 per cent of Hungarian exports and 29 per cent of industrial output.

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Slovenia

The European Investment Fund (EIF) and Slovenia’s SID Bank are providing a EUR100m loan to an investment program to support the access of Slovenian small and medium enterprises (SME) to an expansion equity capital, the EIF said. The funds will be also offered to companies providing for up to 3,000 full-time jobs.

“The initiative for the SEGIP had come after the crisis revealed a major deficiency in private equities in Slovenia,” SID’s CEO Sibil Svilan said, adding that the program is not intended for ventures in trouble, but for a support investments aimed at strengthening or expanding companies in Slovenia.

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Russia

China is about to sign a USD1.7bn deal with Russia for the transfer of technology, the biggest nuclear energy contract between the two countries in a decade, TASS News Agency informed.

Two Russian VVER-1200 units will be built by China National Nuclear Corporation (CNNC) and Russia’s State Atomic Energy Corporation (Rosatom) in Xujapuu nuclear power plants (Liaoning Province, Northeast China). The project should be completed by 2022.

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What’s up in indexes

BET (of Bucharest) increased from 8149.36 index points Tuesday, May 14th to 8186.89 index points Wednesday, May 15th. It’s up 0.72 per cent d/d and down 5.68 per cent y/y.

BUX (of Budapest) increased from 40085.00 index points Tuesday, May 14th to 40291.00 index points Wednesday, May 15th. It’s up 0.51 per cent d/d and up 6.98 per cent y/y.

OMXR (of Riga) increased from 1015.67 index points Tuesday, May 14th to 1021.10 index points Wednesday, May 15th. It’s up 0.53 per cent d/d and down 2.00 per cent y/y.

OMXT (of Tallinn) increased from 1250.38 index points Tuesday, May 14th to 1250.38 index points Wednesday, May 15th. It’s up 0.49 per cent d/d and down 0.19 per cent y/y.

OMXV (of Vilnius) increased from 686.02 index points Tuesday, May 14th to 688.75 index points Wednesday, May 15th. It’s up 0.04 per cent d/d and down 3.99 per cent y/y.

PX (of Prague) increased from 1050.31 index points Tuesday, May 14th to 1052.07 index points Wednesday, May 15th. It’s up 0.17 per cent d/d and down 4.90 per cent y/y.

RTS (of Moscow) increased from 1241.51 index points Tuesday, May 14th to 1247.02 index points Wednesday, May 15th. It’s up 0.44 per cent d/d and up 5.79 per cent y/y.

SAX (of Bratislava) decreased from 362.25 index points Tuesday, May 14th to 347.27 index points Wednesday, May 15th. It’s down 4.14 per cent d/d and up 3.38 per cent y/y.

SOFIX (of Sofia) increased from 563.40 index points Tuesday, May 14th to 566.30 index points Wednesday, May 15th. It’ up 0.51 per cent d/d and down 11.95 per cent y/y.

UX (of Kyiv) increased from 1706.59 index points Tuesday, May 14th to 1715.11 index points Wednesday, May 15th. It’ up 0.50 per cent d/d and down 5.41 per cent y/y.

WIG20 (of Warsaw) increased from 2163.94 index points Tuesday, May 14th to 2169.18 index points Wednesday, May 15th. It’s up 0.24 per cent d/d and down 4.71 per cent y/y.

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