Jaguar Land Rover moves production of Discovery to Slovakia

The planned factory in Nitra, Slovakia (Jaguar Land Rover, Public domain)

The gas pipeline between Moldova and Romania will be completed by the end of 2018

Bulgaria to invest EUR812.9m in water sanitation projects

Slovakia

The British carmaker Jaguar Land Rover is moving all production of its Land Rover Discovery model from its plant near Birmingham to Nitra in Slovakia. All Discovery production will be gone from the UK by early 2019, resulting in possible job cuts at the Solihull plant, writes The Slovak Spectator.

Reuters quotes company’s statement: “The potential losses of some agency employed staff in the UK is a tough one but forms part of our long-term manufacturing strategy as we transform our business globally.” According to Reuters the company has also blamed Brexit for hitting demand in Europe’s second-largest autos market, where demand fell 6 per cent last year.

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Moldova

The portal IPN informs that the gas pipeline Iasi-Ungheni-Chisinau will be completed by the end of 2018 and put into operation in 2019. The gasoline linking the second largest Romanian city Iasi with Moldova’s capital Chisinau is seen as “a great accomplishment” and a step towards energy diversification of the region.

The first part of the pipeline (Iasi – Ungheni) has already been completed. The second part (Ungheni-Chisinau) will cost EUR113m. In March 2018 the European Commission informed it will increase the amount of the grant for the pipeline from EUR10m to EUR40m. The European Bank for Reconstruction and Development offered a loan of EUR41m and the European Investment Bank of EUR41m.

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Bulgaria

Bulgaria wants to invest EUR812.9m in water sanitation projects by 2023. About two million Bulgarians will benefit from the projects. SEE News Corporate Wire reports, after the regional development ministry, that the projects “will be financed under operational programme Environment 2014-2020”.

The plan is to develop 19 waste and drinking water treatment plants, 1,300 km of water supply and sewage pipes, and other facilities. The construction works will start at the end of 2018.

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What’s up in indexes

BET (of Bucharest) increased from 8,253.12 index points Friday, June 8th to 8,265.45 index points Monday, June 11th. It’s up 0.15 per cent d/d and down 2.20 per cent y/y.

BUX (of Budapest) decreased from 36,738.31 index points Friday, June 8th to 36,606.38 index points Monday, June 11th. It’s down 0.36 per cent d/d and up 3.60 per cent y/y.

CROBEX (of Zagreb) decreased from 1,831.45 index points Friday, June 8th to 1,827.25 index points Monday, June 11th. It’s down 0.23 per cent d/d and up 0.98 per cent y/y.

OMXR (of Riga) decreased from 1,038.18 index points Friday, June 8th to 1,035.18 index points Monday, June 11th. It’s down 0.29 per cent change d/d and up 22.05 per cent y/y.

OMXT (of Tallinn) increased from 1,254.18 index points Friday, June 8th to 1,260.52 index points Monday, June 11th. It’s up 0.51 per cent d/d and up 11.42 per cent y/y.

OMXV (of Vilnius) increased from 711.56 index points Friday, June 8th to 711.93 index points Monday, June 11th. It’s up 0.05 per cent d/d and up 19.66 per cent y/y.

PX (of Prague) decreased from 1,077.37 index points Friday, June 8th to 1,077.28 index points Monday, June 11th. It’s down 0.01 per cent d/d and up 7.25 per cent y/y.

SAX (of Bratislava) closed at 326.52 index points Friday, June 8th. It’s 0 per cent change d/d. It’s up 4.24 per cent y/y.

SOFIX (of Sofia) decreased from 631.83 index points Friday, June 8th to 629.59 index points Monday, June 11th. It’s down 0.35 per cent d/d and down 7.60 per cent y/y.

UX (of Kyiv) increased from 1,610.73 index points Friday, June 8th to 1,618.47 index points Monday, June 11th. It’s up 0.48 per cent d/d and up 57.81 per cent y/y.

WIG20 (of Warsaw) decreased from 2,250.06 index points Friday, June 8th to 2,234.52 index points Monday, June 11th. It’s down 0.69 per cent d/d and down 4.13 per cent y/y.

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