The Czech Republic introduces stricter mortgage rules
Germany remains the biggest importer of Polish goods and services
Macedonia has a new official name
Ukraine’s President Petro Poroshenko took part in the opening ceremony of the Trans-Anatolian Natural Gas Pipeline (TANAP) in the city of Eskisehir (Turkey) – the Interfax agency reports. Mr. Poroshenko expressed his support for the project, saying he expected that in the future Ukraine could receive natural gas via TANAP. “Today we agreed that we would be glad to diversify our energy sources and receive gas from TANAP via Bulgaria and Romania,” Ukraine’s President said.
TANAP is a 1,850-kilometer pipeline that will transport gas of Azerbaijan’s Shah Deniz 2 field from the Turkish eastern border with Georgia to the Turkish western border. In the first period, its annual capacity will be 16 billion cubic meters (bcm) of gas, including 10 bcm to Europe and 6 bcm to western Turkey. Later on, the capacity will grow to, respectively, 24 bcm and 31 bcm. The total cost of the project was USD7.99bn.
The Czech Republic
The rules for the provision of mortgage loans will be changed in October. Radio Praha informs, quoting the Czech National Bank (CNB), that It will be harder to get a mortgage. The CNB recommends that mortgage holders “should not be allowed to spend more than 45 per cent of their monthly income on repayments”.
The Radio writes that the central bank’s restrictions are not “legally binding, but are generally followed by banks”.
Germany remains the biggest recipient of Poland’s exports as shows the data from the Central Statistical Office (GUS). The second biggest is the Czech Republic. The First News informs that Germany’s share in Polish exports in the period January-April 2018 was 27.9 per cent (in 2017 it was 27.4 per cent). Czech share in Polish exports reached 6.3 per cent. The data also shows that Germany’s share in imports was 22.5 per cent (dropped by 0.3 percentage points).
“The third biggest importer of Polish exports in 2018 is Great Britain, with a 6.2 per cent share (down from 6.6 pct in 2017), followed by France (5.8 pct) and Italy (4.6 pct)” – The First News reports.
Greece and Macedonia have already ended their long-standing feud over the former Yugoslav republic’s name, according to Reuters. Both countries reportedly signed a deal that states that the latter will be officially called the “Republic of Northern Macedonia”. The agency says that at present the country is formally known as the “Former Yugoslav Republic of Macedonia” (the name of the country in the documents of the United Nations). Greece claimed that the name “Macedonia” implied “territorial claims on a northern Greek province of the same name”.
Reuters quotes Macedonian Prime Minister Zoran Zaev who said that “the deal would open the way for the tiny Balkan nation’s eventual membership of the European Union and NATO, currently blocked by Greece’s objections to its use of the name Macedonia”.
What’s up in indexes
BET (of Bucharest) increased from 8,265.45 index points Monday, June 11th to 8,287.30 index points Tuesday, June 12th. It’s up 0.26 per cent d/d and down 1.94 per cent y/y.
BUX (of Budapest) decreased from 36,606.38 index points Monday, June 11th to 36,348.00 index points Tuesday, June 12th. It’s down 0.71 per cent d/d and up 2.87 per cent y/y.
CROBEX (of Zagreb) decreased from 1,827.25 index points Monday, June 11th to 1,824.88 index points Tuesday, June 12th. It’s down 0.13 per cent d/d and up 0.85 per cent y/y.
OMXR (of Riga) increased from 1,035.18 index points Monday, June 11th to 1,042.07 index points Tuesday, June 12th. It’s up 0.67 per cent change d/d and up 22.86 per cent y/y.
OMXT (of Tallinn) decreased from 1,260.52 index points Monday, June 11th to 1,258.11 index points Tuesday, June 12th. It’s down 0.19 per cent d/d and up 11.20 per cent y/y.
OMXV (of Vilnius) increased from 711.93 index points Monday, June 11th to 712.82 index points Tuesday, June 12th. It’s up 0.13 per cent d/d and up 19.81 per cent y/y.
PX (of Prague) increased from 1,077.28 index points Monday, June 11th to 1,078.94 index points Tuesday, June 12th. It’s up 0.15 per cent d/d and up 7.41 per cent y/y.
SAX (of Bratislava) increased from 326.52 index points Friday, June 8th to 329.18 index points Tuesday, June 12th. It’s up 0.81 per cent d/d and up 5.09 per cent y/y.
SOFIX (of Sofia) increased from 629.59 index points Monday, June 11th to 632.33 index points Tuesday, June 12th. It’s up 0.44 per cent d/d and down 7.20 per cent y/y.
UX (of Kyiv) increased from 1,618.47 index points Monday, June 11th to 1,622.58 index points Tuesday, June 12th. It’s up 0.25 per cent d/d and up 58.21 per cent y/y.
WIG20 (of Warsaw) increased from 2,234.52 index points Monday, June 11th to 2,252.39 index points Tuesday, June 12th. It’s up 0.80 per cent d/d and down 1.86 per cent y/y.