Norway buys buses from Polish Solaris

Solaris’ bus Urbino (Semvatac, CC BY-NC-ND)

The Bank Assets Management Company  pays some debts

In Hungary there is a need for seasonal workers in agriculture

Bank of Latvia buys EUR211.3m worth of securities

Poland

The Polish Radio reports that Polish bus manufacturer Solaris signed an agreement with Norwegian companies Unibuss and Nobina. According to the agreement 99 Urbino busses will be delivered to Norway.

Solaris says these vehicles will run on the latest generation of biofuel.

„Buses made by the Polish company are used in 24 cities in Norway. After the new batch is delivered in the first quarter of next year, the number of such vehicles in operation there will jump to 468. In total, more than 14,000 buses produced by Solaris near the western city of Poznań are used in 30 countries including Germany, the Czech Republic, France, Italy, the United Arab Emirates, Israel and Turkey” the Polish Radio informs.

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Slovenia

The Bank Assets Management Company (DUTB) known as the Slovenian „bad bank” informed it has made an early repayment of EUR120m worth of debt obligations to the Ministry of Finance. It inherited the debts the merger of Probanka and Factor banka.

After this early repayment, DUTB’s outstanding obligations to the government totals EUR68.5m. The state-owned company (set up in 2013 to help restructuring the banking sector) informs it will be repaid by December 2016.

„This is DUTB’s contribution to the partial repayment of the funds invested by the Republic of Slovenia into the rehabilitation of its banking sector” the bank writes in its press release.

In February 2016 DUTB took over Factor Banka and Probanka in a merger deal concluded to give the state an opportunity to sell the two banks in a more appropriate moment.

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Hungary

„The seasonal harvest of fruit and vegetable could absorb an extra 50,000 to 80,000 workers in Hungary but there are neither suitable workers nor funds to pay their wages,” Portfolio.hu informs.

The portal quotes Ferenc Ledó from the Fruitveb, Hungarian Fruit and Vegetable Interdisciplinary Organization and Product Council, who complains that not everyone can do agricultural work. „If apple is harvested properly, it can be sold for HUF100 a kilogram, but if it is thrown it will bruise and can only be sold for juicing for around HUF15 per kilogram,” Mr. Ledó says. 

Hungarians consider two ways of solving the problem: increasing automatization („the only solution would be to mechanize work and to raise wages. However, this route is only open to the biggest companies in the market”) and employing immigrants. Portfolio informs that in Spain more than 200,000 African workers are employed seasonally by farmers.

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Latvia

The Bank of Latvia informs that in July 2016 it bought securities worth EUR211.3m under the European Central Bank’s (ECB) public sector purchase program (PSPP).

According to the Baltic Course since the launch of the PSPP in March 2015, the Bank of Latvia has bought EUR3.34bn worth of securities issued by the Latvian government and international organizations located in the Eurozone, including EUR1.81bn worth of securities in 2015.

 Under the ECB program, the national bank of Latvia is expected to buy up local government bonds and supranational securities.

Latvian bonds worth EUR27m were purchased under the PSPP in July 2016. The total amount of Latvian bonds purchased under the program since its launch in March 2015 is EUR1.05bn, and their average maturity period is 6.56 years.

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What’s up in indexes

BUX (of Budapest) decreased from 27779.62 index points Thursday, August 25th to 27733.77 index points Friday, August 26th. So it dropped by 0.17 per cent. From year-end it’s up 15.94 per cent.

BET (of Bucharest Stock Exchange) increased form 6962.39 index points Thursday, August 25th to 6983.49 index points Friday, August 26th. So it’s up 0.30 per cent d/d. From year-end it dropped by 0.27 per cent.

PX (of Prague Stock Exchange) decreased from 855.79 index points Thursday, August 25th to 853.19 index points Friday, August 26th. So it dropped by 0.30 per cent d/d. From year-end it dropped by 10.78 per cent.

WIG20 (of Warsaw) dropped by 0.32 per cent d/d and by 4.48 per cent from year-end. It decreased from 1781.68 index points Thursday, August 25th to 1775.90 index points Friday, August 26th.

OMXT (of Tallinn) decreased from 998.77 index points Thursday, August 25th to 998.22 index points Friday, August 26th. So it dropped by 0.06 per cent d/d. From year-end it’s up 11.04 per cent.  

OMXR (of Riga) decreased from 639.54 index points Thursday, August 25th to 637.48 index points Friday, August 26th. So it dropped by 0.32 per cent d/d. From year-end it’s up 7.26 per cent.

OMXV (of Vilnius) increased from 537.35 index points Thursday, August 25th to 537.88 index points Friday, August 26th. So it’s up 0.10 per cent d/d. From year-end it’s up 10.68 per cent.

SAX (of Bratislava) was up 0.16 per cent d/d and up 7.35 per cent from year-end. It increased from 313.34 index points Thursday, August 25th to 313.83 index points Friday, August 26th.

SOFIX (of Sofia) dropped by 0.02 per cent d/d – falling from 473.86 index points Thursday, August 25th to 473.77 index points Friday, August 26th. From year-end it’s up 2.79 per cent.

UX (of Kyiv) was up 1.06 per cent – increasing from to 687.95 index points Thursday, August 25th to 695.23 index points Friday, August 26th. From year-end it’s up 1.37 per cent.

CROBEX (of Zagreb) increased from 1804.81 index points Thursday, August 25th to 1808.54 index points Friday, August 26th. So it’s up 0.21 per cent d/d. From year-end it’s up 7.04 per cent.

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