Poland: power giant PGE acquires the Polish part of EDF

(Wistula, CC BY-SA)

Slovak economy slows down in Q3’17

Bosnia to get EUR4m from the EBRD

Poland

The Polish Radio reports that the state-owned power producer PGE takes over the Polish assets of French state-controlled utility EDF. There are the Rybnik power plant, 8 combined heat-and-power plants and about 400 km of heating networks in 4 cities. PGE will pay in total EUR1.01bn.

As reported, “thanks to the move, PGE is becoming a leader on the country’s energy and heat market”.

The Radio quotes Henryk Baranowski, the CEO of PGE saying: “It was a historic moment for the company. This is another step in implementing the group’s strategy, which was announced in September 2016”.

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Slovakia

Slovak economy grew 3.3 per cent y/y in Q3’17. The Slovak Spectator points out that the economy slows down. In the same period of 2016 the growth pace was 3.7 per cent.

The portal informs, after the Slovak Statistics Office, that seasonally adjusted GDP grew by 3.4 per cent y/y and 0.8 per cent q/q. In current terms the growth was 4.9 per cent y/y and amounted to EUR22.3bn.

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Bosnia i Hercegovina

The European Bank for Reconstruction and Development (EBRD) informed it provided Bosnia’s with EUR4m to boost local private business. Mikrofin, a non-bank microfinance institution operating in Bosnia and Herzegovina, will use these funds to give loans to Bosnian companies.

The loan is „complemented by technical cooperation support financed by the EBRD Shareholder Special Fund to support Mikrofin with the development of the methodology and implementation of the new IFRS 9 standard, in order for the microfinance institution to comply fully with the International Financial Reporting Standards (IFRSs)”. The institution will maintain access to funding from the external lenders only if it adopts the new IFRS standard.

See News Corporate Wire reminds that since the beginning of its operations in BiH EBRD has invested more than EUR2bn in over 140 projects.

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What’s up in indexes

BET (of Bucharest) increased from 7,776.97 index points Monday, November 13th to 7,804.73 index points Tuesday, November 14th. It’s up 0.68 per cent d/d and up 13.86 per cent y/y.

BUX (of Budapest) decreased from 39,254.00 index points Monday, November 13th to 39,140.44 index points Tuesday, November 14th. It’s down 0.29 per cent d/d and up 29.94 per cent y/y.

CROBEX (of Zagreb) increased from 1,842.04 index points Monday, November 13th to 1,842.63 index points Tuesday, November 14th. It’s up 0.03 per cent and down 6.16 per cent y/y.

OMXR (of Riga) increased from 1,032.60 index points Monday, November 13th to 1,035.65 index points Tuesday, November 14th. It’s up 0.30 per cent d/d and up 45.67 per cent y/y.

OMXT (of Tallinn) decreased from 1,232.27 index points Monday, November 13th to 1,228.68 index points Tuesday, November 14th. It’s down 0.29 per cent d/d and up 19.46 per cent y/y.

OMXV (of Vilnius) increased from 660.30 index points Monday, November 13th to 662.22 index points Tuesday, November 14th. It’s up 0.29 per cent d/d and up 18.40 per cent y/y.

PX (of Prague) decreased from 1,062.56 index points Monday, November 13th to 1,062.45 index points Tuesday, November 14th. It’s down 0.01 per cent d/d and up 17.38 per cent y/y.

SAX (of Bratislava) decreased from 320.48 index points Monday, November 13th to 315.71 index points Tuesday, November 14th. It’s down 1.49 per cent d/d and up 0.39 per cent y/y.

SOFIX (of Sofia) increased from 669.22 index points Monday, November 13th to 670.66 index points Tuesday, November 14th. It’s up 0.22 per cent d/d and up 25.45 per cent y/y.

UX (of Kyiv) decreased from 1,270.44 index points Monday, November 13th to 1,264.47 index points Tuesday, November 14th. It’s down 0.47 per cent d/d and up 55.78 per cent y/y.

WIG20 (of Warsaw) increased from 2,454.60 index points Monday, November 13th to 2,464.35 index points Tuesday, November 14th. It’s up 0.40 per cent d/d and up 40.51 per cent y/y.

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