Lithuanian Railways will pay EUR28m fine for dismantling rails in 2008

(CC By NC ND Kristupas Jarmulka)

Polish Aviation Group wants to compete with global rivals

Estonia: maximum unemployment payout to grow to EUR1,446.15 in 2018

Lithuania

The deadline for paying a fine of EUR27.87m imposed by the European Commission on Lithuanian Railways (Lietuvos Gelezinkeliai) is January 7th. The Lithuanian state-owned company announced it will pay it on January 5th.

Lithuanian Railways got fined for the dismantled railway stretch leading from Orlen Lietuva’s refinery, belonging to Poland’s PKN Orlen, to Renge (Latvia). The company interrupted traffic between Lithuania and Latvia in 2008. Polish oil concern Orlen filed a case in 2011. In late 2017 Lithuanian company was fined nearly EUR28 for “obstructing competition”.

The Baltic Times informs, the company plans to rebuild the 19-km railway tracks from Mazeikiai to the city of Renge.

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Poland

Poland’s Development Ministry has decided to establish Polish Aviation Group. The entity, led by the state-owned LOT Polish Airlines, brings together the aircraft service provider LOT AMS and LS Airport Services. As the Polish Radio informs, the PAG was endowed with a capital of PLN1.2bn (EUR290m).

Rafał Milczarski, the CEO of LOT commented that the “consolidation move reflected similar trends in Western Europe” and that the Group would “be able to more efficiently compete with global rivals”.

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Estonia

Estonian unemployed will get bigger payouts in 2018. According to the Baltic Course, the effective maximum size of the unemployment insurance benefit is now EUR1,446.15 (up from EUR1,347 in 2017) and the minimum size of the payout is EUR242.73 (up from EUR222.27 in 2017) a month. As the Unemployment Insurance Fund (UIF) informed, the basis calculating the ceiling is three times the average daily pay in Estonia – namely EUR31.10 in 2018. It is calculated by the UIF on the basis of the unemployment insurance payments made throughout 2017.

The number of people without a job and covered by unemployment insurance in Estonia was 617,297 in 2017. It was bigger by 9,200 than in 2016.

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What’s up in indexes

BET (of Bucharest) increased from 7,910.81 index points Wednesday, January 3rd to 7,965.70 index points Thursday, January 4th. It’s up 0.69 per cent d/d and up 10.40 per cent y/y.

BUX (of Budapest) increased from 39,604.40 index points Wednesday, January 3rd to 39,850.00 index points Thursday, January 4th. It’s up 0.62 per cent d/d and up 22.06 per cent y/y.

CROBEX (of Zagreb) increased from 1,840.82 index points Wednesday, January 3rd to 1,844.20 index points Thursday, January 4th. It’s down 0.18 per cent d/d and down 6.90 per cent y/y.

OMXR (of Riga) increased from 1,002.64 index points Wednesday, January 3rd to 1,013.67 index points Thursday, January 4th. It’s up 1.10 per cent d/d and up 37.63 per cent y/y.

OMXT (of Tallinn) increased from 1,256.59 index points Wednesday, January 3rd to 1,263.65 index points Thursday, January 4th. It’s up 0.56 per cent d/d and up 16.61 per cent y/y.

OMXV (of Vilnius) increased from 663.87 index points Wednesday, January 3rd to 666.97 index points Thursday, January 4th. It’s up 0.47 per cent d/d and up 17.88 per cent y/y.

PX (of Prague) increased from 1086.75 index points Wednesday, January 3rd to 1,105.13 index points Thursday, January 4th. It’s up 1.69 per cent d/d and up 18.30 per cent y/y.

SAX (of Bratislava) closed at 325.61 index points Thursday, January 4th. It’s 0 per cent change d/d and up 2.19 per cent y/y.

SOFIX (of Sofia) increased from 685.09 index points Wednesday, January 3rd to 691.01 index points Thursday, January 4th. It’s up 0.86 per cent d/d and up 17.32 per cent y/y.

UX (of Kyiv) increased from 1,352.22 index points Wednesday, January 3rd to 1,358.08 index points Thursday, January 4th. It’s up 0.43 per cent d/d and up 70.35 per cent y/y.

WIG20 (of Warsaw) increased from 2,463.25 index points Wednesday, January 3rd to 2,533.17 index points Thursday, January 4th. It’s up 2.84 per cent d/d and up 26.66 per cent y/y.

 

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