Nord Stream 2 gas pipeline unthreatened

Gas tanks in Buchheim, Cologne (Marco Verch, CC BY)
(Marco Verch, CC BY)

Lithuanian airports’ turnover up 23 per cent y/y

Romania: the biggest lender has been sold to Austrian Erste Bank

Russia and Germany

Nord Stream 2 is exclusively an economic project, said Russian President Vladimir Putin after his meeting with German chancellor Angela Merkel in Meseberg palace (50 kilometers away from Berlin). “The two leaders both said the Nord Stream 2 pipeline – which will supply Germany with vast amounts of Russian gas – would not be derailed by American ire over the project,” the Independent.co.uk reports. Mr. Putin underlined that this was “vital to take measures against possible non-competitive and illegal attacks from third countries in order to complete the project”. Mrs. Merkel added that she expected the pipeline would not be used to “squeeze the Ukrainian economy or lever political concession”.

The Nord Stream 2 gas pipeline will go under the Baltic Sea, bypassing Ukraine and the Central Europe. Countries like Poland, Lithuania, Latvia, Ukraine oppose it, claiming it would threaten Europe’s energy security. After Merkel-Putin meeting it seems obvious that the project will be completed.

It was the second Putin-Merkel one-to-one meeting this summer.. The politicians met in May 2018 in Soczi. The Independent, belonging to Russian owner (the Lebedev family), reminds that “ties between the two countries [Russia and Germany] have been strained since Russia’s annexation of the Crimea region of Ukraine in 2014”. It also points out that the meeting in Meseberg “ended with no agreements being signed off and no obvious progress made”.

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Lithuania

The company Lietuvos Oro Uostai (Lithuanian Airports), the state-owned operator of the three leading Lithuanian airports (Vilnius, Kaunas and Palanga), posted EUR20m revenue in H1’18. It’s up 23 per cent y/y – the Baltic Course informs. As reported, during the period mentioned, the facilities serviced – in total – 2.946 million passengers. It’s up 16 per cent y/y. The number of flights increased to 29,700 (up 9 per cent y/y). The company explains that it was due to the increase of the number of flights and the number of passengers handled.

The revenues from servicing passengers made 70 per cent of the general turnover. It reached EUR13.6m. The income from other activities increased to EUR7m.

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Romania

The Romania Insider informs that the investment fund SIF Oltenia has just announced signing a contract with Austrian group Erste “to sell its minority stake in BCR”. The value of the deal will reach EUR140m. As the portal informs, the transaction has to be approved by the fund’s general shareholders’ meeting and by the European Central Bank.

Five investment companies set up in Romania during the 1990s received “a combined stake of 30 per cent in former state lender BCR, 6 per cent each. Four of them have already sold its shares to Erste.

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What’s up in indexes

BET (of Bucharest) increased from 8,137.23 index points Thursday, August 16th to 8,185.49 index points Friday, August 17th. It’s up 0.59 per cent d/d and down 1.76 per cent y/y.

BUX (of Budapest) decreased from 36,472.99 index points Thursday, August 16th to 36,436.96 index points Friday, August 17th. It’s down 0.10 per cent d/d and down 2.02 per cent y/y.

CROBEX (of Zagreb) decreased from 1,820.63 index points Thursday, August 16th to 1,818.15 index points Friday, August 17th. It’s down 0.14 per cent d/d and down 2.08 per cent y/y.

OMXR (of Riga) increased from 999.13 index points Thursday, August 16th to 1,000.51 index points Friday, August 17th. It’s up 0.14 per cent d/d and down 1.17 per cent y/y.

OMXT (of Tallinn) increased from 1,233.12 index points Thursday, August 16th to 1,237.45 index points Friday, August 17th. It’s up 0.35 per cent d/d and down 1.72 per cent y/y.

OMXV (of Vilnius) decreased from 712.09 index points Thursday, August 16th to 709.57 index points Friday, August 17th. It’s down 0.35 per cent d/d and up 8.92 per cent y/y.

PX (of Prague) decreased from 1,061.38 index points Thursday, August 16th to 1,058.05 index points Friday, August 17th. It’s down 0.31 per cent d/d and up 1.98 per cent y/y.

SAX (of Bratislava) closed at 333.42 index points Friday, August 17th. It’s the same result as Thursday’s. It’s 0.00 per cent change d/d and up 2.42 per cent y/y.

SOFIX (of Sofia) closed at 633.62 index points Friday, August 17th. It’s the same result as Thursday’s. It’s 0.00 per cent change d/d and down 13.11 per cent y/y.

UX (of Kyiv) increased from 1,623.40 index points Thursday, August 16th to 1,633.93 index points Friday, August 17th. It’s up 0.65 per cent d/d and up 45.42 per cent y/y.

WIG20 (of Warsaw) decreased from 2,262.10 index points Thursday, August 16th to 2,217.74 index points Friday, August 17th. It’s down 1.96 per cent d/d and down 5.76 per cent y/y.

 

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