Poland won with Gazprom in the Arbitration Tribunal in Stockholm

(Lowdown, CC BY-SA)

Croatia will introduce new tax cuts in 2019

Estonians actively save for retirement

Poland

The First News informs that the Arbitration Tribunal in Stockholm (Sweden) ruled in the dispute between the Polish state-owned gas company PGNiG and Russian Gazprom. In June 30th, the court decided that PGNiG, “is justified to demand lower gas prices from Gazprom”.

In May 2015, PGNiG filed a claim against the Russian oil giant Gazprom “on the grounds that the gas prices charged by the Russian giant under the Yamal agreement were too high”. The agreement signed in 1996 envisioned that Gazprom would supply Poland with 10 billion cubic meter (bcm) of natural gas annually until 2022. Poland demanded that the price was adjusted to “reflect trends on European markets”.

Finally, as The First News reports, the Court of Arbitration in Stockholm “issued a partial ruling stipulating that PGNiG had met the terms of the Yamal agreement and was therefore entitled to a price reduction on the gas supplied by Gazprom”. In the following months the Arbitration Tribunal will determine the reduced gas prices in the agreement between the two companies, which may come into effect retroactively from November 1, 2014.

Read more

Croatia

The SEENews Corporate Wire informs that Croatia will introduce new tax cuts starting January 1st, 2019. As reported, “a new set of tax reform bills has been agreed within the finance ministry”.

The details were not disclosed. In 2017, the country lowered its income and corporate taxes. The portal writes that it “led to the first general government budget surplus since the country’s independence”.

The information about the new measures was confirmed by Zdravko Maric, Croatia’s Finance Minister.

Read more

The Baltics

The Baltic Course reports on the findings from the SEB Retirement Readiness Survey, conducted by SEB Banka. It shows that “in Latvia, fewer people are making additional savings for their future pensions than in neighboring Lithuania and Estonia”. The portal quotes SEB Banka’s representative Jelena Kontusa, who comments that despite growing activity of Latvians to ensure their well-being at old-age, retirement readiness in Latvia was still the lowest in the Baltics.

The figures are as follows:

  • 34 per cent of Latvians were making additional savings for their future pensions as compared to 42 per cent of Lithuanians and 43 per cent of Estonians,
  • 22 per cent of Latvians make regular contributions to the pension capital compared to 21 per cent of Lithuanians and 26 per cent of Estonians (the average monthly contribution is EUR56 in Latvia, EUR66 in Lithuania and EUR69 in Estonia).

Only 13 per cent of respondents knew how much of already paid taxes were channeled into their future pensions.

Read more

What’s up in indexes

BET (of Bucharest) decreased from 8,087.01 index points Friday, June 29th to 8,040.57 index points Monday, July 2nd. It’s down 0.57 per cent d/d and up 2.35 per cent y/y.

BUX (of Budapest) decreased from 36,127.71 index points Friday, June 29th to 35,867.75 index points Monday, July 2nd. It’s down 0.72 per cent d/d and up 3.12 per cent y/y.

CROBEX (of Zagreb) decreased from 1,816.49 index points Friday, June 29th to 1,804.67 index points Monday, July 2nd. It’s down 0.65 per cent d/d and down 1.35 per cent y/y.

OMXR (of Riga) decreased from 1,057.31 index points Friday, June 29th to 1,037.94 index points Monday, July 2nd. It’s down 1.83 per cent d/d and up 6.76 per cent y/y.

OMXT (of Tallinn) decreased from 1,261.60 index points Friday, June 29th to 1,259.51 index points Monday, July 2nd. It’s down 0.17 per cent d/d and up 10.16 per cent y/y.

OMXV (of Vilnius) increased from 709.95 index points Friday, June 29th to 710.47 index points Monday, July 2nd. It’s up 0.07 per cent d/d and up 18.64 per cent y/y.

PX (of Prague) increased from 1,064.20 index points Friday, June 29th to 1,070.50 index points Monday, July 2nd. It’s up 0.59 per cent d/d and up 9.09 per cent y/y.

SAX (of Bratislava) increased from 325.59 index points Friday, June 29th to 326.07 index points Monday, July 2nd. It’s up 0.15 per cent d/d and down 0.36 per cent y/y.

SOFIX (of Sofia) decreased from 634.26 index points Friday, June 29th to 626.80 index points Monday, July 2nd. It’s down 1.18 per cent d/d and down 11.11 per cent y/y.

UX (of Kyiv) increased from 1,580.37 index points Wednesday, June 27th to 1,601.34 index points Monday, July 2nd. It’s up 1.33 per cent d/d and up 54.02 per cent y/y.

WIG20 (of Warsaw) decreased from 2,135.47 index points Friday, June 29th to 2,119.31 index points Monday, July 2nd. It’s down 0.76 per cent d/d and down 8.80 per cent y/y.

Share this post

TOP