Poland’s state-owned railway companies will become a holding

(Roland Peschetz, CC BY-NC)

Estonian pensions system to be tied to life expectancy

EC: Moldova must improve reform implementation

Poland

Polish state-owned rail operator Polskie Koleje Państwowe SA (PKP) and its subsidiaries, operating as PKP Group, will transform into a holding. The Polish Radio quotes the company’s CEO Krzysztof Mamiński confirming this. As reported, the Ministry of Infrastructure and the managers decided that the new structure will be implemented at the beginning of 2019.

“A holding structure would not limit the independence of PKP Group companies but would give them a shared management strategy and encourage partnership between them, as well as lead to savings. We can jointly manager personnel, finances, training (of staff), make purchases,” Mr. Mamiński commented.

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Estonia

Estonian pension system will be more flexible and will tie the retirement age to average life expectancy – the Baltic Course informs. As reported, Estonian government approved a bill submitted by the Ministry of Social Affairs and Finance Ministry.

The transition from the current system to the new one will happen between 2021 and 2027. The new system will consist of three pillars: the first pillar will depend on the number of years worked, the second – on the size of the wage, and the third – on individual, voluntary contributions.

“From 2027, the retirement age in Estonia will be pegged to average life expectancy to reflect changes in demographics and enable to pay pensions of similar size as now when population numbers decline. The possibility to join the second pillar will be reopened for people born between 1970 and 1982,” writes the Baltic Course.

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Moldova

The EU-Moldova Association Council will meet on May, 2018. SEE News Corporate Wire quotes the statement of the European Commission (EC), commenting Moldova’s efforts in reforming the country. “Moldova has managed to stabilize its economic situation and, with constant but conditional support from the European Union and other international partners, has progressed with the implementation of some reforms, including strengthening the Deep and Comprehensive Free Trade Area,” the EC concluded. At the same time, the Commission pointed out that “further efforts are still needed and urgent actions should be taken to fight the high-level corruption, to address the thorough reform of the judicial system and to recover the “misappropriated funds from the one billion dollar banking fraud”.

Moldova signed an association agreement with the EU in 2014.

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What’s up in indexes

BET (of Bucharest) increased from 8,747.58 index points Wednesday, April 4th to 8,861.11 index points Thursday, April 5th. It’s up 1.30 per cent d/d and up 8.04 per cent y/y.

BUX (of Budapest) increased from 37,275.42 index points Wednesday, April 4th to 38,065.04 index points Thursday, April 5th. It’s up 2.12 per cent d/d and up 17.47 per cent y/y.

CROBEX (of Zagreb) increased from 1,804.80 index points Wednesday, April 4th to 1,806.05 index points Thursday, April 5th. It’s up 0.07 per cent d/d and down 3.81 per cent y/y.

OMXR (of Riga) decreased from 1,042.26 index points Wednesday, April 4th to 1,031.61 index points Thursday, April 5th.  It’s down 1.02 per cent d/d and up 32.81 per cent y/y.

OMXT (of Tallinn) decreased from 1,264.12 index points Wednesday, April 4th to 1,263.38 index points Thursday, April 5th. It’s down 0.06 per cent d/d and up 13.90 per cent y/y.

OMXV (of Vilnius) increased from 705.09 index points Wednesday, April 4th to 707.12 index points Thursday, April 5th.  It’s up 0.29 per cent d/d and up 26.10 per cent y/y.

PX (of Prague) increased from 1,111.86 index points Wednesday, April 4th to 1,130.23 index points Thursday, April 5th.  It’s up 1.65 per cent d/d and up 15.24 per cent y/y.

SAX (of Bratislava) increased from 329.68 index points Wednesday, April 4th to 333.99 index points Thursday, April 5th.  It’s up 1.31 per cent d/d and up 9.03 per cent y/y.

SOFIX (of Sofia) increased 654.44 index points Wednesday, April 4th to 659.03 index points Thursday, April 5th. It’s up 0.70 per cent d/d and up 2.69 per cent y/y.

UX (of Kyiv) increased from 1,707.20 index points Wednesday, April 4th to 1,710.82 index points Thursday, April 5th. It’s up 0.21 per cent d/d and up 60.55 per cent y/y.

WIG20 (of Warsaw) increased from 2,200.99 index points Wednesday, April 4th to 2,243.58 index points Thursday, April 5th. It’s up 1.94 per cent d/d and down 0.45 per cent y/y.

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