LOT continues expansion of Budapest hub

(BrunoGeiger, CC BY-NC 2.0)

Naftogaz wants Russia to compensate seizure of assets

Japan's Toyo Tires to open factory in Serbia

Poland and Hungary

Polish national airlines LOT has announced plans to launch direct flights from its new hub in Budapest, Hungary, to Seoul, South Korea. The route will be operated three times per week and flights will commence in September. LOT also announced that it will begin operating short-haul routes from Budapest to Belgrade, Brussels, Bucharest, Prague, Sofia and Stuttgart in 2020.

“The launch of new, international flights from Hungary marks another stage of market consolidation in Central and Southeast Europe, of which LOT is currently becoming an undisputed leader“, the airline wrote in its press release.

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Ukraine

Naftogaz of Ukraine estimated the damage from losing the company’s assets in Crimea at USD5.2bn, the company’s press service said. “At the end of June, enterprises belonging to the Naftogaz group filed a claim with the Tribunal at the Permanent Court of Arbitration in Hague on the compensation for losses caused by the expropriation of assets of the group in Crimea worth USD2bn,” the company informed in its press release.

According to Naftogaz, the Tribunal will decide on compensation for damages not earlier than by the end of 2020.

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Serbia

Japanese company, Toyo Tire Corporation plans to build a factory in Serbia’s Indjija, investing EUR390m in the first phase of the project, President Aleksandar Vučić said. The factory will have 539 employees in the first phase, Mr. Vučić added.

“Toyo Tire is supplying tires for the European and Russian market from factories in Japan and Malaysia. As of 2022, the new manufacturing base in Serbia will take on a key role in this regard,” the representatives of the company announced.

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What’s up in indexes

BET (of Bucharest) increased from 8977.06 index points Tuesday, July 30th to 9069.93 index points Wednesday, July 31st. It’s up 0.89 per cent d/d and up 13.7 per cent y/y.

BUX (of Budapest) decreased from 40844.00 index points Tuesday, July 30th to 40768.00 index points Wednesday, July 31st. It’s down 0.19 per cent d/d and up 13.7 per cent y/y.

OMXR (of Riga) decreased from 1039.88 index points Tuesday, July 30th to 1038.95 index points Wednesday, July 31st. It’s down 0.09 per cent d/d and up 1.16 per cent y/y.

OMXT (of Tallinn) increased from 1266.22 index points Tuesday, July 30th to 1267.59 index points Wednesday, July 31st. It’s up 0.11 per cent d/d and up 0.69 per cent y/y.

OMXV (of Vilnius) increased from 693.36 index points Tuesday, July 30th to 694.67 index points Wednesday, July 31st. It’s up 0.19 per cent d/d and down 3.16 per cent y/y.

PX (of Prague) decreased from 1062.22 index points Tuesday, July 30th to 1056.69 index points Wednesday, July 31st. It’s down 0.52 per cent d/d and down 3.26 per cent y/y.

RTS (of Moscow) increased from 1350.48 index points Tuesday, July 30th to 1360.04 index points Wednesday, July 31st. It’s up 0.53 per cent d/d and up 15.9 per cent y/y.

SAX (of Bratislava) increased from 336.91 index points Tuesday, July 30th to 344.01 index points Wednesday, July 31st. It’s up 2.11 per cent d/d and up 5.72 per cent y/y.

SOFIX (of Sofia) decreased from 581.40 index points Tuesday, July 30th to 580.60 index points Wednesday, July 31st. It’s down 0.15 per cent d/d and down 8.43 per cent y/y.

UX (of Kyiv) decreased from 1603.24 index points Tuesday, July 30th to 1601.91 index points Wednesday, July 31st. It’s down 0.08 per cent d/d and down 1.73 per cent y/y.

WIG20 (of Warsaw) increased from 2263.92 index points Tuesday, July 30th to 2277.37 index points Wednesday, July 31st. It’s up 0.59 per cent d/d and down 1.08 per cent y/y.

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