Labor costs in Bulgaria are getting higher

Novo Selo, Bulgaria (U.S. Army Corps of Engineers, CC BY)

Ukraine paid more for imported natural gas

Finnish stainless steel manufacturer enters Lithuania

Bulgaria

Novinite.com reports on the increase in the total expenses of Bulgarian employers per working hour of their employees. Preliminary data from the National Statistical Institute (NSI) shows that the labor costs grew by 8 per cent in general during 2016 – in industry it were up 8.1 per cent, in the services sector – up 9.4 per cent and in construction – up 2.2 per cent.

Novinite.com reports the highest increase was noted in the sector of culture, sports and entertainment: plus 25 per cent. At the same time labor costs grew the slowest in the water and utilities sector: up 1.7 per cent.

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Ukraine

Interfax informs that in January 2017 Ukraine has imported 1.61 billion cubic meters (bcm) of natural gas and paid USD394m for it. As the data from the State Statistics Service show during the whole 2016 it imported some 10,905 bcm and paid USD2.191bn. The average prices of imported gas was USD244.6 per 1,000 cubic meters in January 2017 and USD228.8 in December 2016.

All gas was imported from the European countries. The biggest deliveries came from Switzerland, Germany, France and Poland. Ukraine also imports gas from the UK, Slovakia, Luxembourg, Austria and Hungary.

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Lithuania

Baltic Course reports on the opening of the global business services center of Outokumpu in Vilnius. Outokumpu is the biggest European stainless steel manufacturer, based in Finland. 90 per cent of the company’s employees in Lithuania will be Lithuanians. Planned headcount is 180.

The center will provide services to the global company, mainly financial management, credit control and procurement. During the opening Lithuanian President Dalia Grybauskaite said that the decision of Outokumpu’s managers to invest in Lithuania “confirms international perception of her country as a good location for creating high value-added jobs.”

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What’s up in indexes

BET (of Bucharest) decreased from 7,975.97 index points Tuesday, March 21st to 7,969.25 index points Wednesday, March 22nd. It was down 0.08 per cent d/d and up 17.45 per cent y/y.

BUX (of Budapest) decreased from 32,044.13 index points Tuesday, March 21st to 31,827.13 index points Wednesday, March 22nd. It was down 0.97 per cent d/d and up 24.05 per cent y/y.

CROBEX (of Zagreb) decreased from 2,132.91 index points Tuesday, March 21st to 2,081.26 index points Wednesday, March 22nd. It was down 2.42 per cent d/d and up 28.74 per cent y/y.

OMXR (of Riga) decreased from 772.15 index points Tuesday, March 21st to 761.67 index points Wednesday, March 22nd. It was down 1.36 per cent d/d and up 23.40 per cent y/y.

OMXT (of Tallinn) decreased from 1,127.67 index points Tuesday, March 21st to 1,125.13 index points Wednesday, March 22nd. It was down 0.23 per cent d/d and up 16.40 per cent y/y.

OMXV (of Vilnius) decreased from 562.08 index points Tuesday, March 21st to 560.15 index points Wednesday, March 22nd. It was down 0.34 per cent d/d and up 11.07 per cent y/y.

PX (of Prague) decreased from 982.72 index points Tuesday, March 21st to 978.91 index points Wednesday, March 22nd. It was down 0.39 per cent d/d and up 8.63 per cent y/y.

SAX (of Bratislava) increased from 301.83 index points Tuesday, March 21st to 304.33 index points Wednesday, March 22nd. It was up 0.83 per cent d/d and down 6.01 per cent y/y.

SOFIX (of Sofia) increased from 639.32 index points Tuesday, March 21st to 639.72 index points Wednesday, March 22nd. It was up 0.06 per cent d/d and up 43.15 per cent y/y.

UX (of Kyiv) decreased from 934.23 index points Tuesday, March 21st to 929.85 index points Wednesday, March 22nd. It was down 0.47 per cent d/d and up 54.39 per cent y/y.

WIG20 (of Warsaw) decreased from 2,252.57 index points Tuesday, March 21st to 2,223.84 index points Wednesday, March 22nd. It was down 1.28 per cent d/d and up 13.29 per cent y/y.

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