Serious changes for Polish entrepreneurs

(heroix, CC BY-SA 2.0)

Ukraine's economy will grow by 5 to 7 per cent annually

ECB will test Croatian banks

Poland

Polish President Andrzej Duda has signed a law with several measures aiming to reduce the regulatory burden on entrepreneurs. The aim of the legislation is to ease the doing business, Polskie Radio informed.

The measures include changes in VAT in imports which may increae the competitiveness of Polish ports. The changes will also give new firms a “right to error.” If a company has been created within the past 12 months, regulatory bodies will be more lenient towards any accidental breeches of the law.

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Ukraine

Ukrainian President Volodymyr Zelensky plans to invest at least USD20bn in infrastructure, Interfax News Agency reports. “We will invest…to repair our 24,000 km of roads, increase the number of operating airports to 15, develop 5 seaports and substantially increase their capacity, triple the capacity of our military-industrial complex,” the president said.

Mr. Zelensky also announced that in the next five years, the Ukrainian economy will grow by 5 to 7 per cent annually.

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Croatia

The European Central Bank (ECB) informed it would carry out stress tests of five Croatian banks, a preliminary step in Zagreb’s bid to join the Eurozone. Zagrebačka banka, Privredna banka Zagreb, Erste & Steiermärkische Bank, OTP banka Hrvatska and Hrvatska poštanska banka will be tested, with results expected in May 2020, the ECB added.

Last month, Croatia submitted a formal bid to join the European Exchange Rate Mechanism (ERM II), which is the earliest step on the path to the Eurozone membership.

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What’s up in indexes

BET (of Bucharest) increased from 9024.59 index points Wednesday, August 7th to 9109.89 index points Thursday, August 8th. It’s up 0.26 per cent d/d and up 10.7 per cent y/y.

BUX (of Budapest) increased from 40037.00 index points Wednesday, August 7th to 40440.00 index points Thursday, August 8th. It’s up 0.39 per cent d/d and up 9.47 per cent y/y.

OMXR (of Riga) increased from 1034.73 index points Wednesday, August 7th to 1037.36 index points Thursday, August 8th. It’s up 0.48 per cent d/d and up 2.72 per cent y/y.

OMXT (of Tallinn) decreased from 1268.88 index points Wednesday, August 7th to 1267.42 index points Thursday, August 8th. It’s down 0.14 per cent d/d and up 2.27 per cent y/y.

OMXV (of Vilnius) increased from 691.08 index points Wednesday, August 7th to 691.29 index points Thursday, August 8th. It’s up 0.02 per cent d/d and down 3.08 per cent y/y.

PX (of Prague) increased from 1019.85 index points Wednesday, August 7th to 1020.53 index points Thursday, August 8th. It’s up 0.48 per cent d/d and down 5.92 per cent y/y.

RTS (of Moscow) increased from 1294.50 index points Wednesday, August 7th to 1305.32 index points Thursday, August 8th. It’s up 1.56 per cent d/d and up 17.2 per cent y/y.

SAX (of Bratislava) increased from 345.41 index points Wednesday, August 7th to 347.20 index points Thursday, August 8th. It’s up 1.42 per cent d/d and up 5.31 per cent y/y.

SOFIX (of Sofia) increased from 579.90 index points Wednesday, August 7th to 583.80 index points Thursday, August 8th. It’s up 0.81 per cent d/d and down 8.85 per cent y/y.

UX (of Kyiv) decreased from 1619.90 index points Wednesday, August 7th to 1582.99 index points Thursday, August 8th. It’s down 2.17 per cent d/d and down 3.20 per cent y/y.

WIG20 (of Warsaw) increased from 2156.23 index points Wednesday, August 7th to 2158.88 index points Thursday, August 8th. It’s up 0.97 per cent d/d and down 6.43 per cent y/y.

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