Friends because of business needs

(CC BY-NC Michael Kappel)

Poland-Lithuania energergetic bridge would start operating this year.

Latvia and China - new friends because of business needs.

Czech Republic also closer to China

What’s up in indexes


Poland-Lithuania energergetic bridge would start operating this yearRzeczpospolita, daily newspaperreports that the Poland-Lithuania energetic bridge would start operating this year. The first part of the project, rated for 500MW transmission power, is ready – there are two power stations in Ostrołęka and Stanisławów (Warmian-Masurian voivodeship).

The final powerline will run from Station Ełk Bis (in Polish Ełk) to Station Alytus (in Lithuania) through: Wieliczki, Olecko, Bakałarzewo, Raczki, Filipów, Suwałki, Jeleniewo, Krasponop, Puńsk (in Poland), Lazdijai, Sestokai, Kalvarija and Simnas (in Lithania).

It is a crucial link in power transmission interconnection between the Baltic States and the Western Union, and a very important thing for the energetic safety in EU. It is also supposed to bring prices of the electricty down.

The power bridge is being built by Lithuanian and Polish power network operators: Litgrid AB and Polskie Sieci Eleketroenergetyczne S.A. The coordinator of the project is LitPol Link, a Lithuanian – Polish Company.

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The Latvian Foreign Mininster Edgar Rinkevics met with the new Chinese Ambassador to Latviam – Huang Yong. They talked about the cerftification of Latvian food products in China which would open opportunities for Latvain companies to export their dairy and fish products to the country. They also mentioned a course of Beijing International Studies University with the program thaught in Latvian.

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Czech Republic

Czech Republic also closer to China. And by the way – maybe it’s not as fresh as other news, but let us remember that also Czech Republic wants to deepen its relations with China. As Reuters reported on August 31, the Bank of China will open its branch in the Czech Republic fall this year.

Bank of China is the fourth biggest commercial bank in China and it already has its subsidiaries in Poland and Hunagry. Wenbo Hou, the head of the team thet runs the Europe business of BOC said to Reuters that the region „have big economic potential”.

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Fight over shares of the hugest supermarket chain in Lithuania. The richest man in Lithuania, Nerijus Numavicius, is suppposed to have taken unlawfully 30% shares of Vilniaus Prekyba – the owner of Maxima supermarkets.
A court in Lithuania has now frozen part of his assets to secure claim against Lithuanian millionaire.

The other owners, who were afraid that Numavicius would remove its asssetes from the country, are satisfied with the court’s decision. Mangaugas Marcinkevicius, the other rich Lithuanian who took Numavicius to court in August this year, said to Estonian Airpaev daily that „the case has been sealed and the division of the stake will be sanctioned by the court”. Marcinievicius demands that Numavicius either restore shareholdings of other owners to the previous size, or pay EUR 1 bn in compensation.

Numavicius’s lawyer says her client does not agree with the claim. And would apply over the decision of the court.

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What’s up in indexes?

BUX index (of the Budapest Stock Exchange) finished up 0.95% at 21306.51 on September 10. And it is up 28.09% from year-end.

Romania Stock Market (BET) increased to 7160.25 index points on Wednesday from 7191.1 index points in the previous trading day. It is up 1.09% from Tuesday and 1.65% from year-end.

PX of Czech Republic fell down on Thursday to 1002.71 index points. The day before it was 1008.59. It dived 0.58%. But it’s up 5.92% from year-end.

Polish WIG20 was up 1.98% on Thursday (the index increased from 2142.53 on Wednesday to 2188.96 index points on Thursday). From year-end it dropped 5.66%.

Bulgarian SOFIX fell to 450.72 index points on Thursday from 451.47 index points from. It dropped 0.17% day to day. And it’s also 13.67% down from year-end.

OMX Tallinn increased was down 0.19% on Thursday with 879.17 index points. The day before it was from 880.83 But it is up 16.44% from year-end.

OMXV Vilnus increased to 487.31 on Thursday from 486.74 on Tuesday (up 0.12%). It is up 7.71% from year-end.

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