General Electric to boost renewable energy in Poland

(United Nations Photo, CC BY-NC-ND)

Arctic can ensure output of all Russian gas

Czech PPF Group continues expansion

Poland

Polish Ministry of Investment and Development and the US General Electric — GE Power and GE Renewable Energy-Offshore Wind GE have decided to cooperate, PAP news agency informed. “The letter that we signed ensures Polish companies’ participation in the transformation of Poland’s energy system,” said Poland’s Investment and Development Minister Jerzy Kwieciński. Both sides expressed a will to jointly invest in the renewable energy in Poland.

“Today both partners expect to tighten cooperation with special consideration for projects involving offshore wind farms,” Sławomir Żygowski, head of GE Power added.

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Russia

“In 2035, the volume of gas production in the Arctic zone of the Russian Federation, according to the development strategy for the territory, may amount up to 90 per cent of all produced Russian gas,” Deputy Minister for the Development of the Russian Far East and Arctic Alexander Krutikov said, TASS news agency informed. Mr. Krutikov added that the Arctic has the potential to secure one of the leading places for Russia in the global market for liquefied natural gas (LNG), producing up to 120 million tons of LNG per year.

“In the Russian Arctic in the next 15 years a new branch of economy will appear and will actively develop oil and gas chemistry,” Mr. Krutikov said.

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Czech Republic

Central European Media Enterprises (CME), which operates some of the most popular TV channels in CSE countries, has announced that it has been acquired by an affiliate of PPF Group. The value of the transaction was USD2.1bn, the company informed.

PPF Group, whose majority shareholder is the Czech billionaire Petr Kellner, is a media and entertainment company operating in five CSE markets with an aggregate population of approximately 45 million people.

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What’s up in indexes

BET (of Bucharest) increased from 9630.24 index points Friday, October 25th to 9677.61 index points Monday, October 28th. It’s up 0.58 per cent d/d and up 13.9 per cent y/y.

BUX (of Budapest) decreased from 42476.00 index points Friday, October 25th to 42159.36 index points Monday, October 28th. It’s down 0.74 per cent d/d and up 15.1 per cent y/y.

OMXR (of Riga) decreased from 1033.60 index points Friday, October 25th to 1026.93 index points Monday, October 28th. It’s down 0.65 per cent d/d and up 9.44 per cent y/y.

OMXT (of Tallinn) increased from 1243.55 index points Friday, October 25th to 1244.56 index points Monday, October 28th. It’s up 0.08 per cent d/d and up 4.22 per cent y/y.

OMXV (of Vilnius) increased from 700.14 index points Friday, October 25th to 702.47 index points Monday, October 28th. It’s up 0.33 per cent d/d and up 7.74 per cent y/y.

PX (of Prague) decreased from 1067.14 index points Friday, October 25th to 1061.54 index points Monday, October 28th. It’s down 0.52 per cent d/d and up 0.88 per cent y/y.

RTS (of Moscow) increased from 1413.63 index points Friday, October 25th to 1421.20 index points Monday, October 28th. It’s up 0.54 per cent d/d and up 26.8 per cent y/y.

SAX (of Bratislava) decreased from 346.77 index points Friday, October 25th to 346.07 index points Monday, October 28th. It’s down 0.20 per cent d/d and up 2.89 per cent y/y.

SOFIX (of Sofia) increased from 561.00 index points Friday, October 25th to 561.41 index points Monday, October 28th. It’s up 0.07 per cent d/d and down 6.24 per cent y/y.

UX (of Kyiv) increased from 1515.18 index points Friday, October 25th to 1533.47 index points Monday, October 28th. It’s up 1.21 per cent d/d and down 11.08 per cent y/y.

WIG20 (of Warsaw) increased from 2175.27 index points Friday, October 25th to 2186.11 index points Monday, October 28th. It’s up 0.43 per cent d/d and up 1.67 per cent y/y.

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