Fitch maintains Poland’s ratings, Moody’s without an update

(Gideon Benari, www.solvencyiiwire.com, CC BY)

Sharing economy in Estonia totaled EUR40m in 2016

Romania’s economic growth will slow down to 3.4 per cent

Alibaba to open logistics center in Bulgaria

Poland

Fitch has kept unchanged Poland’s A- long-term foreign currency rating and stable outlook. According to agency’s statement, quoted by the Polish Radio, the decision was supported by Poland’s solid macroeconomic foundations, including a healthy banking system and monetary policy.

Fitch also stressed the predictability of Poland’s policies and the overall political climate has worsened, increasing the risk of an economic slowdown.

Meanwhile, Moody’s reported that it had not updated the Polish rating, which remained at A2/P-1 for the long and short-term obligations in foreign and local currency, with a negative outlook.

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Estonia  

The revenues of Estonia’s three biggest sharing economy sectors was EUR40.3m in 2016, reports the Baltic Course quoting results of a study done by Technopolis Group Eesti OU and EY.

As The Baltic Course writes, in the past few years the number of sharing economy platforms has doubled and their turnover has grown nearly 7.5-fold. The biggest increase has been recorded in the economic and financial sector. Also the number of participants in the sharing economy is growing.

Authors of the survey forecast that by 2020 the revenues of sharing economy in the three biggest sectors will quadruple. The growth will mainly be a result of the overall expansion of the market rather than of taking over the market from classical service providers.

Still the share of sharing economy in general economy is not substantial.

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Romania

Country’s economic growth will slow down to 3.4 per cent, according to a report by UniCredit, writes Romania Insider. For 2018, Romania’s GDP is estimated to grow by 3.3 per cent.

UniCredit has also revised the estimate of Romania’s economic growth in 2016 from 4.4 per cent to 4.5 per cent. Romania Insider writes that UniCredit estimates that the budget deficit will remain with within 3 per cent of the GDP this year, up from 2.6 per cent in 2016, but with great difficulty. The public debt will increase from 38.7 per cent of the GDP in 2016 to 39 per cent of the GDP this year.

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Bulgaria

Chinese e-commerce giant Alibaba wants to set up a logistics center in Bulgaria. The main goal, as Novite.com writes, is to improve deliveries to Europe. Alibaba will also “offer Bulgarian food and commodities through its online platform,” Yahoo News reports, citing Zacks Equity Research and Xinhua News Agency.

The move “underscores Alibaba’s growing interest in the global logistics business,” according to the information published by Yahoo and quoted by Novite.com.

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What’s up in indexes

BUX (of Budapest) decreased from 32,960.00 index points Thursday, January 12th to 32,949.77 index points Friday, January 13th. It was down 0.05 per cent d/d and up 35.43 per cent y/y.

BET (of Bucharest) decreased from 7,189.29 index points Thursday, January 12th to 7,143.96 index points Friday, January 13th. It was down 0.50 per cent d/d and up 8.57 per cent y/y.

PX (of Prague) increased from 982.89 index points Thursday, January 12th to 930.42 index points Friday, January 13th. It was up 0.16 per cent d/d and up 1.72 per cent y/y.

WIG20 (of Warsaw) decreased from 2,022.95 index points Thursday, January 12th to 2,015.89 index points Friday, January 13th. It was down 0.35 per cent d/d and up 13.73 per cent y/y.

OMXT (of Tallinn) increased from 1,088.81 index points Thursday, January 12th to 1,092.03 index points Friday, January 13th. It was up 0.30 per cent d/d and up 22.34 per cent y/y.

OMXR (of Riga) increased from 740.15 index points Thursday, January 12thto 743.56 index points Friday, January 13th. It was up 0.46 per cent d/d and up 23.48 per cent y/y.

OMXV (of Vilnius) decreased from 563.67 index points Thursday, January 12th to 562.30 index points Friday, January 13th. It was down 0.24 per cent d/d and up 15.02 per cent y/y.

SAX (of Bratislava) decreased from 318.12 index points Thursday, January 12th to 317.67 index points Friday, January 13th. It was down 0.14 per cent d/d and up 7.04 per cent y/y.

SOFIX (of Sofia) decreased from 607.33 index points Thursday, January 12th to 602.14 index points Friday, January 13th to It was down 0.85 per cent d/d and up 33.47 per cent y/y.

UX (of Kiev) decreased from 828.75 index points Thursday, January 12th to 825.45 index points Friday, January 13th. It was down 0.40 per cent d/d and up 21.19 per cent y/y/.

CROBEX (of Zagreb) increased from 2,069.59 index points Thursday, January 12th to 2,075.95 index points Friday, January 13th. It was up 0.31 per cent d/d and up30.71 per cent y/y.

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