Oleksiy Honcharuk becomes Prime Minister of Ukraine

Ukraine's PM Oleksiy Honcharuk (president.gov.ua, CC BY 4.0)

Nexen Tire opens USD1bn tire plant in Czech Republic

Business climate in Bulgaria unfavorable

Ukraine

Former lawyer Oleksiy Honcharuk is the new prime minister of Ukraine. The Ukrainian parliament approved him on Aug. 29. Most recently, Honcharuk worked as the deputy head of President Volodymyr Zelensky’s office overseeing economic development and reforms.

Prior to taking office, he was the head of Better Regulation Delivery Office, a European Union-funded, independent policy institute aimed at improving the business environment and state regulation in economic sectors.

“The new parliament and the Cabinet of Ministers will have to change the attitude to Ukraine in the world. Today resources in Ukraine are very expensive, and investors do not trust it as a country for investment,” new PM said, adding that cheap lending will be one of the tactical goals of the government.

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Czech Republic

Korean Nexen Tire has opened its USD1bn plant in Zatec, Czech Republic, Radio Praha informed. The factory, which also features a research and development facility, is the third largest FDI project in the history of Czech Republic.

The plant will produce 11 million tires per year and employ 1300 people. “With over 30 car makers located within 400 kilometers, the Czech Republic offers the ideal location for our business,” the company’s CEO Travis Kang said.

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Bulgaria

The business climate in Bulgaria in August 2019 is seen as unfavorable, according to a regular monthly poll by the National Statistical Institute (NSI). The indicators were down in all four sectors of Bulgaria’s economy surveyed – industry, construction, the retail trade and services, the NSI said.

The main problem facing enterprises is the uncertain economic environment and the lack of sufficient staff.

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What’s up in indexes

BET (of Bucharest) decreased from 9257.12 index points Wednesday, August 28th to 9250.91 index points Thursday, August 29th. It’s down 0.06 per cent d/d and up 11.0 per cent y/y.

BUX (of Budapest) increased from 38707.00 index points Wednesday, August 28th to 39264.00 index points Thursday, August 29th. It’s up 1.44 per cent d/d and up 5.45 per cent y/y.

OMXR (of Riga) decreased from 1023.90 index points Wednesday, August 28th to 1020.89 index points Thursday, August 29th. It’s down 0.29 per cent d/d and up 4.42 per cent y/y.

OMXT (of Tallinn) decreased from 1246.01 index points Wednesday, August 28th to 1244.68 index points Thursday, August 29th. It’s down 0.11 per cent d/d and up 2.21 per cent y/y.

OMXV (of Vilnius) decreased from 687.31 index points Wednesday, August 28th to 685.38 index points Thursday, August 29th. It’s down 0.28 per cent d/d and down 2.77 per cent y/y.

PX (of Prague) increased from 1024.08 index points Wednesday, August 28th to 1031.02 index points Thursday, August 29th. It’s down 0.68 per cent d/d and down 4.43 per cent y/y.

RTS (of Moscow) increased from 1266.71 index points Wednesday, August 28th to 1284.94 index points Thursday, August 29th. It’s up 1.44 per cent d/d and up 18.4 per cent y/y.

SAX (of Bratislava) closed at 343.69 index points Thursday, August 29th. It’s the same result as Wednesday’s. It’s 0 per cent change d/d and down 1.13 per cent y/y.

SOFIX (of Sofia) increased from 566.40 index points Wednesday, August 28th to 570.50 index points Thursday, August 29th. It’s down 0.71 per cent d/d and down 9.50 per cent y/y.

UX (of Kyiv) closed at 1517.13 index points Thursday, August 29th. It’s the same result as Wednesday’s. It’s 0 per cent change d/d and down 7.17 per cent y/y.

WIG20 (of Warsaw) increased from 2051.44 index points Wednesday, August 28th to 2069.33 index points Thursday, August 29th. It’s up 0.87 per cent d/d and down 13.08 per cent y/y.

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