Lithuania with fintech sector development plan

Coworking at Hub Vilnius, Lithuania (Mindaugas Danys, CC BY)

5,000 Slovak firms operate from tax havens

Poland: unemployment up in December’18

Lithuania

Lithuania wants to become a fintech hub – this is one of the goals of the development of the financial technology sector, approved by the government. The Baltic Course quotes Lithuanian Prime Minister Saulius Skvernelis, who said: New technologies are advancing really fast, and if we as a state lag behind technologically or fail to put in place the necessary legal base, we’ll remain on the fringe.

What does Lithuanian cabinet want to do? 1) Attract at least 2 major fintech companies to the country in 2019. 2) Increase the number of companies operating within the sector by 15 per cent.

Lithuania wants to be the leader of fintech development in the region. The Baltic Course points out that the sector is expected to create 15 per cent more jobs increase its revenue by 25 per cent in 2019.

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Slovakia

4,881 Slovak companies operated from tax havens in 2018 – the Slovak Spectator informs after the company Bisnode and SITA newswire. It is a developing trend, as in 2017 there were 4,796 of them – 85 less than in 2018. A tax haven in this regard is just a country with lower taxation.

For Slovak firms the most popular tax havens are: the USA, Cyprus and the Netherlands. As informed, there are 1,068 Slovak companies operating in the USA, 1,099 in Cyprus and 1,154 in the Netherlands.

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Poland

The unemployment rate increased a bit in December 2018 – according to the data from Statistics Poland. It was 5.9 per cent – more than in November 2018 (5.7 per cent). The Polish Radio reports that in the period mentioned there were 971,000 people without a job in the country.

At the same time, December’s rate was “a notch lower than the country’s labour minister earlier expected”.

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What’s up in indexes

BET (of Bucharest) decreased from 7,565.16 index points Tuesday, January 8th to 7,471.75 index points Wednesday, January 9th. It’s down 0.57 per cent d/d and down 7.01 per cent y/y.

BUX (of Budapest) decreased from 40,809.82 index points Tuesday, January 8th to 40,784.00 index points Wednesday, January 9th. It’s down 0.06 per cent d/d and up 2.29 per cent y/y.

CROBEX (of Zagreb) increased from 1,732.66 index points Tuesday, January 8th to 1,741.36 index points Wednesday, January 9th. It’s up 0.50 per cent d/d and down 4.10 per cent y/y.

OMXR (of Riga) decreased from 972.05 index points Tuesday, January 8th to 956.42 index points Wednesday, January 9th. It’s down 1.61 per cent d/d and down 7.08 per cent y/y.

OMXT (of Tallinn) increased from 1,178.90 index points Tuesday, January 8th to 1,196.15 index points Wednesday, January 9th. It’s up 1.46 per cent d/d and down 6.37 per cent y/y.

OMXV (of Vilnius) increased from 626.07 index points Tuesday, January 8th to 629.19 index points Wednesday, January 9th. It’s up 0.50 per cent d/d and down 5.44 per cent y/y.

PX (of Prague) increased from 1,014.36 index points Tuesday, January 8th to 1,018.05 index points Wednesday, January 9th. It’s up 0.36 per cent d/d and down 7.83 per cent y/y.

SAX (of Bratislava) decreased from 335.12 index points Tuesday, January 8th to 333.66 index points Wednesday, January 9th. It’s down 0.44 per cent d/d and up 1.92 per cent y/y.

SOFIX (of Sofia) decreased from 577.33 index points Tuesday, January 8th to 572.10 index points Wednesday, January 9th. It’s down 0.91 per cent d/d and down 16.86 per cent y/y.

UX (of Kyiv) closed at 1,710.65 index points Wednesday, January 9th. It’s the same result as Tuesday’s. It’s 0 per cent change d/d and up 23.92 per cent y/y.

WIG20 (of Warsaw) increased from 2,325.19 index points Tuesday, January 8th to 2,341.84 index points Wednesday, January 9th. It’s up 0.72 per cent d/d and down 7.38 per cent y/y.

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