In Ukraine net currency purchase by banks from public reached USD1.6bn
Audi will reduce the number of workers in Győr, Hungary
Up to EUR200,000 for setting up businesses in Romanian rural areas
Novinite.com informs Bulgaria is becoming the top Europe’s holiday destination. In the H1’16 the number of tourists visiting Bulgaria was 15 per cent bigger than in the same period of 2015. Tourism Minister Nikolina Angelkova informed that as many as 3.1 million tourists visited the country in the first half of 2016.
Angelkova said the results for those six months were already making 2016 the most successful year for Bulgaria’s tourism industry since 1998.
Novite.com writes that although Bulgaria was expecting a good summer in terms of number of visitors in sea resorts and other places across the country, the average overall projections of a 10 per cent year-to-year increase as of December 2016, has not changed since the beginning of the year.
“Thanks to growth of currency supply on the cash currency market, net currency purchase by banks from the public has reached USD1.6bn since early 2016,” the Interfax reports after Valeriya Gontareva, the governor of the National Bank of Ukraine (NBU).
Over the period NBU held 71 currency auctions and one currency intervention at the fixed exchange rate. Net currency purchase by the central bank in H1’16 reached USD1.4bn.
“The permit to repatriate dividends has not created an additional pressure on the currency market: the volume of currency bought for repatriation of dividends amounted to some USD100m, which was slightly lower than the declared [amount of dividends for repatriation] and its share of demand on the currency market was small,” the agency quotes Gontareva.
The low demand on foreign currency is linked to the unwillingness of business to take funds from working capital. Attractive large deposit rates in the national currency also are the reasons.
Portfolio.hu informs that the German car producer, Audi, plans to reduce the number of workers. It is said it will move 750 out of the 4,000 workers of Győr plant abroad. The corporation is offering them a plan for employment at Audi plants in other countries.
The 750 workers will be able to return to Győr once serial production of a new Q3 model will start which is supposed to to happen in December 2016. Péter Lőre, the company spokesman, said “the usual three shifts at Audi Motor Hungaria will be replaced by two” and that the decision was announced to the workers on July 27th.
“The move from three shifts to two means that the plant will be temporarily making fewer cars than usual in Győr. Although Audi sales have increased worldwide, the TT Coupé, TT Roadster, A3 Limousine and A3 Cabriolet models made in Győr are past the middle of their life cycle, which is typically six years in the auto industry; therefore, demand for them is subdued,” Portfolio.hu informs. The total headcount of Audi Motor Hungaria is 11,400.
“Small companies and freelancers who want to develop a business in Romania’s rural areas can receive between EUR50,000 and EUR200,000 from the state for three fiscal years,” Romania Insider reports.
The program aims to stimulate the business environment in villages and is financed with EU funds.
“This financing is non-reimbursable and can cover up to 90 per cent of the financed project’s value. The money is granted through the Rural Investment Funding Agency. The projects should create jobs, increase the rural population’s revenues and decrease the gap between rural and urban. They should focus on non-agricultural activities,” the portal informs.
What’s up in indexes
BUX (of Budapest) closed at 27628.17 index points Friday, July 29th. So it’s zero per cen change d/d. From year-end it’s up 15.50 per cent.
BET (of Bucharest Stock Exchange) was up 0.46 per cent – increasing from 6694.09 index points Thursday, July 28th to 6725.19 index points Friday, July 29th. From year-end it dropped by 3.99 per cent.
PX (of Prague Stock Exchange) dropped by 0.62 per cent d/d and by 7.80 per cent from year-end. The index decreased from 887.26 index points Thursday, July 28th to 881.74 index points Friday, July 29th.
WIG20 (of Warsaw) dropped by 1.61 per cent d/d and by 5.35 per cent from year-end. The index decreased from 1788.51 index points Thursday, July 28th to 1759.74 index points Friday, July 29th.
OMXT (of Tallinn) increased from 1003.68 index points Thursday, July 28th to 1010.07 index points Friday, July 29th. So it’s up 0.64 per cent d/d. From year-end it’s up 12.36 per cent.
OMXR (of Riga) dropped by 0.66 per cent d/d. It decreased from 641.94 index points Thursday, July 28th to 637.70 index points Friday, July 29th. From year-end it’s up 0.66 per cent.
OMXV (of Vilnius) dropped by 1.05 per cent – falling from 546.13 index points Thursday, July 28th to 540.37 index points Friday, July 29th. From year-end it’s up 11.19 per cent.
SAX (of Bratislava) closed at zero per cent change – 309.71 index points Friday, July 29th. From year-end it’s up 5.94 per cent.
SOFIX (of Sofia) was up 0.09 per cent – increasing from 457.78 index points Thursday, July 28th to 458.18 index points Friday, July 29th. From year-end it dropped by 0.59 per cent.
UX (of Kyiv) dropped by 1.11 per cent – falling from 724.98 index points Thursday, July 28th to 716.96 index points Friday, July 29th. From year-end it’s up 4.53 per cent.
CROBEX (of Zagreb Stock Exchange) was up 0.54 per cent – increasing from 1764.47 index points Thursday, July 28th to 1773.97 index points Friday, July 29th. From year-end it’s up 4.99 per cent.