Poland’s PM: SME will get state support

PM Mateusz Morawiecki, Katowice, Poland (Kancelaria Premiera, Public domain)

Ukraine’s NBU: no potential buyers of banks with Russian capital

Romania: average mobile internet consumption doubles in 2017

Poland

Poland’s Prime Minister Mateusz Morawiecki met with entrepreneurs, managers, and officials during the 10th European Economic Congress in Katowice (southern Poland). He declared state support for small and medium enterprises (SME) in their efforts to expand abroad.

“So far privatization had been based upon selling off Polish capital. From now on it’s going to be different,” Mr. Morawiecki said. “After the crisis, more and more countries understand that social solidarity is needed too, that society and the economy are actually the opposite sides of the same coin. More and more countries also understand that support for local capital, for small businesses, should take place through various mechanisms,” he added.

In 2017 the corporate income tax rate for SME was reduced from 19 per cent to 15 per cent. This year the cabinet promised to lower corporate taxes for micro businesses. They will also benefit from the reduction of social security contributions.

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Ukraine

There are no potential buyers of banks with Russian capital. The National Bank of Ukraine (NBU) believes that the only way to withdraw from the market is to leave the country, Deputy Board Chairman of the NBU Kateryna Rozhkova has said.

Some banks with Russian capital have already done so – BM Bank decided to give away its banking license and VTB is decreasing its activities. The agency quotes Kateryna Rozhkova explaining NBU’s standpoint: “As for Prominvestbank (PIB) and Sberbank, there were potential investors to whom the NBU decided not to issue the permit. At present, the issue [of how to leave the country] remains open. Today we do not see potential buyers who could buy these banks, as they are very large.”

Even the international financial institutions do not show any interest in those banks. As for individual buyers – the NBU “does not see the investors who could not only acquire one of the banks but also invest and develop it”.

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Romania

Romania Insider reports that in 2017 an average internet user used more than 1.4GB of internet per month. It’s almost twice as much as in 2016. The portal quotes Sorin Grindeanu, the head of ANCOM (Romania’s telecom regulator), who claims that this was the effect of the higher use of 4G networks. According to the data from ANCOM, in 2017 80 per cent of the 20.3 million mobile internet connections were the high-speed ones. 38 per cent of the total number of mobile internet connections were 4G and 42 per cent were 3G connections.

The exponential growth was also observed in the use of roaming services, due to the implementation of the Roam Like At Home European regulation. ANCOM informs that “call traffic tripled (from 0.5 billion minutes in 2016 to 1.5 billion in 2017), incoming calls increased by 81 per cent (up to 2 billion minutes), SMS traffic increased by 58 per cent, and data traffic grew six times, reaching 5,811 TB in 2017”.

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What’s up in indexes

BET (of Bucharest) decreased from 8,757.41 index points Monday, May 14th to 8,689.50 index points Tuesday, May 15th. It’s down 0.75 per cent d/d and up 2.71 per cent y/y.

BUX (of Budapest) decreased from 38,602.89 index points Monday, May 14th to 37,663.78 index points Tuesday, May 15th. It’s down 2.43 per cent d/d and up 9.29 per cent y/y.

CROBEX (of Zagreb) increased from 1,843.09 index points Monday, May 14th to 1,846.43 index points Tuesday, May 15th. It’s up 0.18 per cent d/d and up 1.31 per cent y/y.

OMXR (of Riga) decreased from 1,069.31 index points Monday, May 14th to 1,041.95 index points Tuesday, May 15th. It’s down 2.56 per cent d/d and up 27.60 per cent y/y.

OMXT (of Tallinn) decreased from 1,259.06 index points Monday, May 14th to 1,257.49 index points Tuesday, May 15th. It’s down 0.12 per cent d/d and up 12.32 per cent y/y.  

OMXV (of Vilnius) increased from 709.88 index points Monday, May 14th to 713.49 index points Tuesday, May 15th. It’s up 0.47 per cent d/d and up 21.43 per cent y/y.

PX (of Prague) increased from 1,104.33 index points Monday, May 14th to 1,106.30 index points Tuesday, May 15th. It’s up 0.18 per cent d/d and up 8.41 per cent y/y.

SAX (of Bratislava) increased from 335.72 index points Monday, May 14th to 335.90 index points Tuesday, May 15th. It’s up 0.05 per cent d/d and up 9.32 per cent y/y.

SOFIX (of Sofia) increased from 644.24 index points Monday, May 14th to 643.17 index points Tuesday, May 15th. It’s down 0.17 per cent d/d and down 1.92 per cent y/y.

UX (of Kyiv) decreased from 1,818.13 index points Monday, May 14th to 1,813.16 index points Tuesday, May 15th. It’s down 0.27 per cent d/d and up 82.43 per cent y/y.

WIG20 (of Warsaw) decreased from 2,321.09 index points Monday, May 14th to 2,276.45 index points Tuesday, May 15th. It’s down 1.92 per cent d/d and down 4.24 per cent y/y.

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