Poland: ex-finance minister appointed as a board member of the central bank NBP

Paweł Szałamacha, new member of the NBP’s board (Kancelaria Premiera RP, Public domain)

Georgia: ruling party wins parliamentary election

World Bank will probably provide Naftogaz with USD500m guarantees

Turkish Stream deal to be signed on October 10th  

Poland

Former Finance Minister Paweł Szałamacha has been appointed as a board member of the Poland’s central bank, Narodowy Bank Polski (NBP). As the Polish Radio reports Poland’s President Andrzej Duda „has signed an official document sealing the appointment”.

Paweł Szałamacha has been a Finance Minister since autumn 2015. A few days ago he resigned and was replaced by the Deputy Prime Minister and Development Minister Mateusz Morawiecki.

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Georgia

The ruling Georgian Dream party won parliamentary elections that took place on October 9th. The data from the Central Election Commission shows Georgian Dream Party got 48.61 per cent of votes and the opposition United National Movement (UNM) – founded by Mikheil Saakashvili – got 27.04 per cent. Reuters agency reports: „The ruling party in Georgia decisively won parliamentary elections, firming its grip on power in the former Soviet nation”. Reuters points out that the country „traditionally buffeted between Russia and the West, hopes to join the European Union and NATO one day even though that is something that Russia, its former colonial master, strongly opposes”. The ruling party is both pro-Western and eager to closely cooperate with Russia.

Reuters quotes Georgy Kvirikashvili, the Prime Minister of the country: “According to all preliminary results, Georgian Dream is leading with a big advantage”. Georgian Dream came to power in 2012. It was funded by Bidzina Ivanishvili, one of the richest country’s businessmen.

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Ukraine

The Board of Directors of the World Bank will finally consider whether Naftogaz Ukrainy should get USD500m guarantees to „raise letters of credit or loans from international commercial banks to buy natural gas from individual suppliers.” As the Interfax reports, the idea was proposed in autumn 2015 but the discussion was postponed several times.

As the agency reports „the guarantees could be accompanied by the provision of trade financing of up to USD200m by the International Finance Corporation (IFC) from the World Bank Group to buy gas by Naftogaz from a large European supplier ENGIE (earlier GDF SUEZ) under a framework contract signed by the companies. The IFC Board approved the provision of the funds on December 2015”.

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Russia

Alexander Novak, the Russian Energy Minister, informed the final agreement to implement the Turkish Stream project may be signed by Moscow and Ankara officials on October 10th.

President Vladimir Putin is visiting Istanbul, Turkey, today. „Putin will be attending the 23rd World Energy Congress on Monday and hold a bilateral meeting with his counterpart on the sidelines of the event, Recep Tayyip Erdoğan,” Novinite.com reports.

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What’s up in indexes

BUX (of Budapest) was up 0.14 per cent – increasing from 28399.59 index points Thursday, October 6th to 28438.95 index points Friday, October 7th. From year-end it’s up 18.89 per cent.

BET (of Bucharest Stock Exchange) was up 0.03 – increasing from 6944.44 index points Thursday, October 6th to 6946.78 index points Friday, October 7th. From year-end it dropped by 0.79 per cent.

PX (of Prague) dropped by 0.41 per cent d/d and by 7.38 per cent from year-end. It decreased from 889.38 index points Thursday, October 6th to 885.72 index points Friday, October 7th.

WIG20 (of Warsaw) dropped by 0.58 per cent d/d and by 5.78 per cent from year-end. It decreased from 1761.90 index points Thursday, October 6th to 1751.72 index points Friday, October 7th.

OMXT (of Tallinn) dropped by 0.04 per cent – falling 1005.41 index points Thursday, October 6th to 1005.00 index points Friday, October 7th. From year-end it’s up 11.79 per cent.

OMXR (of Riga) was up 0.10 per cent – increasing from 721.98 index points Thursday, October 6th to 722.72 index points Friday, October 7th. From year-end it’s up 21.60 per cent.

OMXV (of Vilnius) decreased from 546.81 index points Thursday, October 6th to 544.49 index points Friday, October 7th. So it dropped by 0.42 per cent d/d. From year-end it’s up 12.04 per cent.

SAX (od Bratislava) was up 1.22 per cent d/d and up 8.80 per cent from year-end. It increased from 314.26 index points Thursday, October 6th to 318.08 index points Friday, October 7th.

SOFIX (of Sofia) dropped by 0.35 per cent d/d – falling from 509.29 index points Thursday, October 6th to 507.51 index points Friday, October 7th. From year-end it’s up 10.11 per cent.

UX (of Kyiv) closed at 839.55 index points Friday, October 7th. The day before it closed at 839.56 index points. So it’s zero per cent change d/d. From year-end it’s up 22.41 per cent.

CROBEX (of Zagreb) was up 0.46 per cent – increasing from 1969.60 index points Thursday, October 6th to 2001.11 index points Friday, October 7th. From year-end it’s up 18.43 per cent.

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