Poland: EFC to discuss challenges of financial institutions

Sopot, Poland (Lukas Plewnia, CC BY-SA 2.0)

EC wants to prolong sanctions imposed on Russia

CSE countries "most vulnerable" to the US-China trade war

Poland

Several hundred economists, policy makers and academics from across Europe came to Sopot (northern Poland) to attend the European Financial Congress, including Poland’s Finance Minister Teresa Czerwińska and prof. Nouriel Roubini, an American economist, who predicting the credit crunch in 2008.

The main topics include challenges and the future of financial sector. Participants will discuss green finances and green bonds as a long-term investment; influence pf modern technology on the banking sector and on customers, and whether traditional players can become pioneers in innovation.

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Russia

The European Commission proposes that sanctions imposed on Russia for the annexation of Crimea should be prolonged for another year, Interfax reported on Monday with reference to an internal EU document. The EU “does not recognize and continues to condemn the illegal annexation of the Crimea and Sevastopol,” the agency said.

This decision is in no way connected with the Russian Foreign Ministry’s decision to expand a blacklist of EU officials in retaliation for the EU’s restrictive measures against Russians, a source in Brussels told TASS.

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Central and Southeast Europe

Romania, Hungary, Poland and Russia are one of the countries that are the most vulnerable to a possible the US-China trade war, according to a Bloomberg ranking of 21 Emerging Economies.

Romania ranked the 18th, Hungary was the 6th, Russia the 9th and Poland the 11th.

“The economies that have either strong domestic demand, smaller trade exposure to China or the US, or those with restrictions for foreign investors to access the markets are more insulated,’’ Satoru Matsumoto, Tokyo-based fund manager, said.

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What’s up in indexes

BET (of Bucharest) increased from 8493.13 index points Friday, May 31st to 8580.24 index points Monday, June 3rd. It’s up 0.93 per cent d/d and up 6.02 per cent y/y.

BUX (of Budapest) increased from 40904.12 index points Friday, May 31st to 41114.00 index points Monday, June 3rd. It’s up 0.51 per cent d/d and up 10.5 per cent y/y.

OMXR (of Riga) increased from 1051.03 index points Friday, May 31st to 1059.83 index points Monday, June 3rd. It’s up 0.84 per cent d/d and up 1.32 per cent y/y.

OMXT (of Tallinn) increased from 1239.27 index points Friday, May 31st to 1252.60 index points Monday, June 3rd. It’s up 1.08 per cent d/d and up 0.69 per cent y/y.

OMXV (of Vilnius) decreased from 677.58 index points Friday, May 31st to 676.88 index points Monday, June 3rd. It’s down 0.10 per cent d/d and down 4.67 per cent y/y.

PX (of Prague) increased from 1044.09 index points Friday, May 31st to 1049.90 index points Monday, June 3rd. It’s up 0.56 per cent d/d and down 2.79 per cent y/y.

RTS (of Moscow) increased from 1287.09 index points Friday, May 31st to 1315.22 index points Monday, June 3rd. It’s up 2.19 per cent d/d and up 11.5 per cent y/y.

SAX (of Bratislava) decreased from 343.56 index points Friday, May 31st to 341.98 index points Monday, June 3rd. It’s down 0.46 per cent d/d and up 2.32 per cent y/y.

SOFIX (of Sofia) decreased from 582.48 index points Friday, May 31st to 580.30 index points Monday, June 3rd. It’ down 0.37 per cent d/d and down 9.09 per cent y/y.

UX (of Kyiv) decreased from 1734.04 index points Friday, May 31st to 1731.75 index points Monday, June 3rd. It’s down 0.13 per cent d/d and up 3.71 per cent y/y.

WIG20 (of Warsaw) decreased from 2239.31 index points Friday, May 31st to 2237.71 index points Monday, June 3rd. It’s down 0.07 per cent d/d and up 1.25 per cent y/y.

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