Latvia with the most rapid GDP growth among Baltic States

Riga, Latvia (Ivan Zanotti, CC BY NC ND)

PKN Olren among the world’s most ethical companies

SK Innovation to invest EUR750m in Hungary

Latvia

Latvia was the fastest growing economy among Baltic States in 2018, according to the Latvian Central Statistical Bureau (CSP) data. The country’s economy grew by 4.8 per cent y/y, according to seasonally and calendar unadjusted data. Estonia’s GDP increased 3.9 per cent y/y and Lithuania’s 3.5 per cent y/y.

“Latvia’s economic growth is supported by consumer spending, which has been boosted by favorable conditions in the labor market,” the OECD report pointed out earlier this year. 

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Poland

The biggest Polish oil&gas company, PKN Orlen has been awarded the prestigious title of the World’s Most Ethical Company by an international panel of experts at the US Ethisphere Institute.

PKN Orlen is the only CSE company that made it into the Honoree List of 128 companies from around the world. PKN Orlen was singled out for “exemplifying and advancing corporate citizenship, transparency and the standards of integrity,” according to the ranking’s website. This is the 6th time that the Polish state-owned company has been ranked. 

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Hungary

Korean battery producer, SK Innovation is investing additional HUF239bn (EUR750m) in its plant in Komarom in northern Hungary. “The government will be contributing to the project with non-returnable funding, but negotiations with the investors are still underway with relation to its level,” the Minister of Foreign Affairs and Trade Péter Szijjártó said ands added that the plant will create 1,000 new jobs.

The construction of the facility, which will manufacture batteries for electric vehicles, will begin in March, and production is expected to begin in late 2021 or early 2022.

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What’s up in indexes

BET (of Bucharest) decreased from 7690.35 index points Wednesday, February 27th to 7647.48 index points Thursday, February 28th. It’s down 0.28 per cent d/d and down 9.52 per cent y/y.

BUX (of Budapest) decreased from 40525.00 index points Wednesday, February 27th to 40333.00 index points Thursday, February 28th. It’s down 0.47 per cent d/d and up 5.83 per cent y/y.

CROBEX (of Zagreb) increased from 1,782.77 index points Wednesday, February 27th to 1,782.77 index points Thursday, February 28th. It’s up 0.07 per cent d/d and down 0.15 per cent y/y.

OMXR (of Riga) decreased from 994.44 index points Wednesday, February 27th to 992.59 index points Thursday, February 28th. It’s down 0.19 per cent d/d and down 4.02 per cent y/y.

OMXT (of Tallinn) decreased from 1234.99 index points Wednesday, February 27th to 1220.77 index points Thursday, February 28th. It’s down 1.15 per cent d/d and down 7.45 per cent y/y.

OMXV (of Vilnius) increased from 648.34 index points Wednesday, February 27th to 648.34 index points Thursday, February 28th. It’s up 0.50 per cent d/d and down 4.73 per cent y/y.

PX (of Prague) increased from 1067.33 index points Wednesday, February 27th to 1071.68 index points Thursday, February 28th. It’s up 0.41 per cent d/d and down 4.35 per cent y/y.

SAX (of Bratislava) decreased from 341.17 index points Wednesday, February 27th to 339.19 index points Thursday, February 28th. It’s down 0.58 per cent d/d and up 1.37 per cent y/y.

SOFIX (of Sofia) decreased from 588.40 index points Wednesday, February 27th to 585.30 index points Thursday, February 27th. It’s down 0.53 per cent d/d and down 14.73 per cent y/y.

UX (of Kyiv) decreased from 1707.15 index points Wednesday, February 27th to 1698.54 index points Thursday, February 28th. It’s down 0.50 per cent d/d and up 7.65 per cent y/y.

 WIG20 (of Warsaw) decreased from 2333.81 index points Wednesday, February 27th to 2333.81 index points Thursday, February 28th. It’s down 0.07 per cent d/d and down 1.36 per cent y/y.

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