Jaguar’s FDI in Slovakia investigated by the European Commission

(Kawa, Public domain)

Increased beer consumption in Latvia

EBRD to finance the enhancement of Romanian mature oil and gas fields

Slovakia

Slovak Spectator reports that EC is investigating whether Slovakia’s plans to provide EUR125m to Jaguar Land Rover (JLR) are in line with the European Union’s rules on public aid. Jaguar plans to build a factory near Nitra – the value of investment is EUR1.4bn, and it will create 3,000 new jobs. Construction works started last year and should be completed by the end of 2018.

Slovak Spectator quotes Margrethe Vestager, European Commissioner for Competition Policy: “The Commission will thoroughly investigate whether the planned support from the Slovak Republic is really necessary for Jaguar Land Rover to place its investment in Nitra, whether this aid is limited to the minimum necessary extent, whether it does not distort competition, or damage cohesion in the EU”.

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Latvia

Latvians drink more and more beer. 30 million litres of the beverage were consumed in Q1’2017. It was more by 2.79 per cent than in Q1’2016. Baltic Course informs about the increased production of beer in Latvia. As reported 20.14 million litres of beer were produced in Q1’17, up 31.05 per cent y/y. Also 18.7 million litres were imported (up 10.38 per cent y/y). 

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Romania

European Bank for Reconstruction and Development (EBRD) will provide USD5m loan to an oilfield developer Expert Petroleum. As Romania Insider reports it will help financing development of Romanian mature oil and gas onshore fields. The loan will contribute to “make the oil and gas assets operated by the company safer, cleaner, more productive and more viable for longer”.

Expert Petroleum is a part of the Jordanian GMS Holdings group, operating 18 mature oil and gas fields with 400 producing wells in Romania.

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What’s up in indexes

BET (of Bucharest) increased from 8,511.95 index points Tuesday, May 23rd to 8,549.06 index points Wednesday, May 24th. It’s up 0.42 per cent d/d and up 33.46 per cent y/y.

BUX (of Budapest) decreased from 34,731.00 index points Tuesday, May 23rd to 32,251.21 index points Wednesday, May 24th. It’s down 1.38 per cent d/d and up 28.23 per cent y/y.

CROBEX (of Zagreb) increased from 1,850.86 index points Tuesday, May 23rd to 1,853.26 index points Wednesday, May 24th. It’s up 0.28 per cent d/d and up 11.24 per cent y/y.

OMXR (of Riga) decreased from 834.59 index points Tuesday, May 23rd to 833.23 index points Wednesday, May 24th. It’s down 0.16 per cent d/d and up 32.07 per cent y/y.

OMXT (of Tallinn) increased from 1,118.29 index points Tuesday, May 23rd to 1,121.33 index points Wednesday, May 24th. It’s up 0.27 per cent d/d and up 13.14 per cent y/y.

OMXV (of Vilnius) increased from 583.49 index points Tuesday, May 23rd to 585.79 index points Wednesday, May 24th. It’s up 0.39 per cent d/d and up 13.66 per cent y/y.

PX (of Prague) increased from 1,007.91 index points Tuesday, May 23rd to 1,010.73 index points Wednesday, May 24th. It’s up 0.28 per cent d/d and up 15.35 per cent y/y.

SAX (of Bratislava) increased from 307.62 index points Tuesday, May 23rd to 308.12 index points Wednesday, May 24th. It’s up 0.16 per cent d/d and down 3.40 per cent y/y.

Sofia’s bourse was closed Wednesday, May 24th. SOFIX (of Sofia) closed at 660.74 index points Tuesday, May 23rd. It’s up 50.25 per cent y/y.

UX (of Kyiv) increased from 936.25 index points Tuesday, May 23rd to 936.50 index points Wednesday, May 24th. It’s up 0.03 per cent d/d and up 52.61 per cent y/y.

WIG20 (of Warsaw) increased from 2,307.84 index points Tuesday, May 23rd to 2,324.99 index points Wednesday, May 24th. It’s up 0.74 per cent d/d and up 26.97 per cent y/y.

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