Poland moves up in Bloomberg Innovation Index

(Boegh, CC BY-SA)

Russia falls 14 places in Bloomberg Innovation Index

Ukraine hopes EBRD will expand financing in 2017

Today in Davos – the World Economic Forum

Poland

The Polish Radio informs that Poland has moved up in the 2017 Bloomberg Innovation Index, climbing to 22nd place from 23rd last year. Thus Poland is ahead of other countries in Central and Southeast Europe in terms of innovation.

Hungary has moved up from 30th to 27th place, while the Czech Republic has advanced from 31st  to 28th place.

South Korea remains at the top of the international ranking of 78 economies, while Sweden has climbed one place to the 2nd, pushing Germany to become the 3rd most innovative country.

The Bloomberg Innovation Index ranks economies using factors including research and development spending and the concentration of hi-tech public companies.

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Russia

Russia now ranks 26th on Bloomberg’s Innovation Index and dropped 14 places since last year’s ranking, writes the Moscow Times. Russia’s fall in the ranking was the most dramatic of all the countries, and according to Bloomberg it was due to the effects of international sanctions and low energy prices.

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Ukraine 

Interfax reports that Ukrainian President Petro Poroshenko discussed prospects of developing cooperation and investment projects in Ukraine with President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti during his visit to Davos.

Poroshenko, quoted by Interfax, “expressed hope that the EBRD would increase financing for cooperation with Ukraine in 2017.”

“Chakrabarti praised Ukrainian authorities’ effort in the issue of nationalization of PrivatBank and confirmed the EBRD’s intention to further provide expert assistance in the reformation of this banking institution,” the Ukrainian president’s press service said.

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Switzerland

The second day in Davos starts with a special address by Joe Biden, Vice President of the United States. He’s expected to share his thoughts on global security and the relationship between the United States and Europe.

IMF Managing Director Christine Lagarde, Italian Finance Minister Pier Carlo Padoan and Founder, Chairman and Co-CIO of Bridgewater Associates, Ray Dalio will take part in the discussion “How to Fix the Middle-Class Crisis”. Middle class is now threatened by job losses and stagnant wages, paving the way for the rise of populism. In emerging markets, middle class growth rates are stalling.

Some of other key events include the following sessions:

  • A Compact for Responsible Business Leadership;
  • Fixing Europe’s Disunion;
  • The Great American Divide.

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What’s up in indexes

BUX (of Budapest) decreased from 32,997.00 index points Monday, January 16th to 32,782.00 index points Tuesday, January 17th. It was down 0.65 per cent d/d and up 41.43 per cent y/y.

BET (of Bucharest) increased from 7,139.89 index points Monday, January 16th to 7,152.56 index points Tuesday, January 17th. It was up 0.15 per cent d/d and up 18.83 per cent y/y.

PX (of Prague) decreased from 927.14 index points Monday, January 16th to 923.27 index points Tuesday, January 17th. It was down 0.42 per cent d/d and up 6.39 per cent y/y.

WIG20 (of Warsaw) decreased from 2,025.25 index points Monday, January 16th to 2,015.28 index points Tuesday, January 17th. It was down 0.49 per cent d/d and up 20.01 per cent y/y.

OMXT (of Tallinn) increased from 1,089.94 index points Monday, January 16th to 1,092.40 index points Tuesday, January 17th. It was up 0.23 per cent d/d and up 23.53 per cent y/y.

OMXR (of Riga) increased from 741.56 index points Monday, January 16th to 743.40 index points Tuesday, January 17th. It was up 0.25 per cent d/d and up 24.88 per cent y/y.

OMXV (of Vilnius) decreased from 565.40 index points Monday, January 16th to 564.81 index points Tuesday, January 17th. It was down 0.10 per cent d/d and up 16.78 per cent y/y.

SAX (of Bratislava) decreased from 317.13 index points Monday, January 16th to 315.70 index points Tuesday, January 17th. It was down 0.45 per cent d/d and up 4.11 per cent y/y.

SOFIX (of Sofia) decreased from 607.36 index points Monday, January 16th to 606.46 index points Tuesday, January 17th. It was down 0.15 per cent d/d and up 35.94 per cent y/y.

UX (of Kiev) increased from 821.19 index points Monday, January 16th to 848.75 index points Tuesday, January 17th. It was up 3.36 per cent d/d and up 29.01 per cent y/y/.

CROBEX (of Zagreb) increased from 2,070.73 index points Monday, January 16th to 2,078.59 index points Tuesday, January 17th. It was up 0.38 per cent d/d and up 30.88 per cent y/y.

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