Polish PKO Bank Polski will open its branch in Prague

(Henryk Borawski, CC BY-SA)

Ukrainian cabinet approves action plan for „Open Government” 2016-2018

Moldova will improve monitoring use of European funds

Romania: ArcelorMittal invests EUR6.5m in Galati steel plant

Poland

Polish biggest bank, state-controlled PKO Bank Polski will open its doors to Czechs. The Polish Radio reports Czech authorities have given the company the green light to launch its first branch in Prague, in 2017. The new branch will be opened in H1’2017. It will mainly be corporate banking branch.

The Polish Radio reminds that the Czech Republic is one of the most important markets for the Polish bank’s existing corporate customers and the fifth largest trade partner for Polish companies.

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Ukraine

The cabinet of Volodymyr Groysman has approved the action plan for the implementation of the initiative “Open Government” partnership in 2016-2018. As the Interfax reports, “the plan includes activities in five areas. Among them, in particular, the improvement of services, improvement of the level of integrity in public administration, efficient management of public resources, the security of communities, and increase of corporate accountability”.

Also a unified information system for monitoring the centers of administrative services will be established.

The “Open Government” partnership is a “multifaceted initiative established in 2011” – a platform for domestic reformers who want to make their governments able to be more responsive to citizens’ needs.

The website of the project

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Moldova

Moldova.org reports the government has decided to launch a cooperation between the Anti-Corruption Center of Moldova (ANC) and the European Anti-fraud Office (OLAF). The two organizations will exchange information in cases of fraud and misuse of means of assistance offered by the European Union.

The portal explains the cooperation will include “operative and technical assistance, common investigations, collaboration in informing the beneficiaries of European funds in regard to methods of preventing frauds, but also in training personnel to prevent corruption in finance projects implementation”. At the same time ANC will be authorized to monitor the recovery of misused funds, through financial investigations, identifying, prosecution and recovery of assets illegally obtained. In 2010 around 37 per cent of Moldovans declared paying bribes.

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Romania

ArcelorMittal will invest EUR6.5m in a high-capacity crane at the Galati steel plant, the Romania Insider reports. The company has just started the operations for installing a major tool which will serve for transporting the liquid steel to the casting machines. The crane weighs 416 tons and can safely lift 300 tons of liquid steel.

Romania Insider underlines the project is a part of the multi-annual plan to invest EUR60m in modernizing the steel plant. The company wants to improve its productivity.

ArcelorMittal is the largest steel and mining company in the world, with operations in over 60 countries. In 2001 the group acquired Sixed Galati, Romania’s biggest steel plant and since then invested more than EUR4000m in the project. Its headcount in Romania is 6,300.

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What’s up in indexes

BUX (of Budapest) decreased from 30014.04 index points Wednesday, November 30th to 29998.19 index points Thursday, December 1st. So it dropped by 0.05 per cent d/d. From year-end it’s up 25.41 per cent.

The bourse of Bucharest was closed Thursday, December 1st. BET (of Bucharest Stock Exchange) closed at 6832.15 index points Wednesday, November 30th. From year-end it dropped by 2.43 per cent.

PX (of Prague) increased from 881.22 index points Wednesday, November 30th to 885.05 index points Thursday, December 1st. So it’s up 0.43 per cent d/d. From year-end it dropped by 7.45.

WIG20 (of Warsaw) dropped by 0.79 per cent – falling from 1798.22 index points Wednesday, November 30th to 1783.94 index points Thursday, December 1st. From year-end it dropped by 4.05 per cent.

OMXT (of Tallinn) increased from 1042.84 index points Wednesday, November 30th to 1049.39 index points Thursday, December 1st. So it grew by 0.63 per cent d/d and by 16.73 per cent from year-end.

OMXR (of Riga) decreased from 744.95 index points Wednesday, November 30th to 742.61 index points Thursday, December 1st. So it dropped by 0.31 per cent d/d. From year-end it’s up 24.94 per cent.

OMXV (of Vilnius) increased from 557.20 index points Wednesday, November 30th to 558.86 index points Thursday, December 1st. So it’s up 0.30 per cent d/d. From year-end it’s up 14.99 per cent.

SAX (of Bratislava) increased from 305.20 index points Wednesday, November 30th to 305.57 index points Thursday, December 1st. So it’s up 0.12 per cent d/d. From year-end it’s up 4.52 per cent.

SOFIX (of Sofia) was up 0.10 per cent d/d and up 22.24 per cent from year-end. It increased from 562.82 index points Wednesday, November 30th to 563.41 index points Thursday, December 1st.

UX (of Kyiv) dropped by 0.48 per cent d/d. It decreased from 808.19 index points Wednesday, November 30th to 804.35 index points Thursday, December 1st. From year-end it’s up 17.28 per cent.

CROBEX (of Zagreb) decreased from 1997.81 index points Wednesday, November 30th to 1986.23 index points Thursday, December 1st. So it dropped by 0.58 per cent d/d. From year-end it’s up 17.55 per cent.

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