Report: Slovak entrepreneurs satisfied with the euro

(Christine und Hagen Graf, CC BY)

Latvia: second-pillar pension plans with negative yield in 2018

Ukraine: minimum wage up

Slovakia

Ten years ago, on January 1st, 2009, Slovakia entered the euro-zone. In connection to 10th anniversary of the event, the Slovak Spectator informs that as much as 83 per cent of the country’s entrepreneurs are satisfied with the European Currency. The portal reports on a poll conducted by the CBOS bank and the Databank. As informed, 15 per cent of Slovak businessmen are unsatisfied. 60 per cent of respondents believe that the introduction of Euro “had a positive impact on their businesses”. At the same time, 13 per cent of respondent claim that it had negative influence.

During the poll, businessmen and the representatives of small, medium and large companies operating in Slovakia have been asked whether they would choose Euro if they had chance to decide again. 86 per cent responded: “yes”.

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Latvia

The Baltic Course reports on poor performance of second-pillar pension plans of Latvia’s government-funded pensions scheme. As informed, in 2018 they all showed negative yield.

The country has a three-pillar pension system. The first pillar – pensions are paid (to current pensioners) from the social contributions made to the state budget. The second pillar – pensions of the future pensioners will be paid from earnings of the finance sector (the social contributions are invested there). The third pillar – the sums will be paid from private investments (voluntary contributions).

According to the Baltic Course: “Except for the seven active pension plans created last year, the annual yield of 10 active pension plans ranged from -10.96 per cent  to -2.65 per cent last year, the annual yield of four balanced pension plans was in the range from -5.33 per cent to -2.88 per cent  and, expect for one conservative plan created last year, the yield of seven conservative pension plans ranged from -2.77 per cent to -0.33 per cent”.

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Ukraine

Starting from January 1st, 2019 the minimum salary in Ukraine is UAH4,173 (EUR131.71). As far as an hourly wage is concerned, it is UAH25.13 (EUR0.79). The minimum salary increased from UAH3,723 in 2018. But still, it’s one of the lowest in Europe and far below EU average. In July 2018 minimum monthly wages in the member states of EU ranged from EUR261 to EUR1,999).

The Interfax informs that the new amount was “stipulated in law No. 2629-VIII on the national budget of Ukraine for the current year”.

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What’s up in indexes

BET (of Bucharest) increased from 7,475.48 index points Thursday, January 3rd to 7,665.19 index points Friday, January 4th. It’s up 2.54 per cent y/y and down 3.77 per cent y/y.

BUX (of Budapest) increased from 39,672.60 index points Thursday, January 3rd to 40,145.18 index points Friday, January 4th. It’s up 1.19 per cent d/d and up 0.74 per cent y/y.

CROBEX (of Zagreb) increased from 1,728.53 index points Thursday, January 3rd to 1,729.79 index points Friday, January 4th. It’s up 0.01 per cent d/d and down 4.20 per cent y/y.

OMXR (of Riga) decreased from 953.26 index points Thursday, January 3rd to 944.50 index points Friday, January 4th. It’s down 0.92 per cent d/d and down 6.82 per cent y/y.

OMXT (of Tallinn) increased from 1,166.50 index points Thursday, January 3rd to 1,168.54 index points Friday, January 4th. It’s up 0.17 per cent d/d and down 7.53 per cent y/y.

OMXV (of Vilnius) increased from 619.58 index points Thursday, January 3rd to 621.29 index points Friday, January 4th. It’s up 0.28 per cent d/d and down 6.85 per cent y/y.

PX (of Prague) increased from 990.05 index points Thursday, January 3rd to 1,004.21 index points Friday, January 4th. It’s up 1.43 per cent d/d and down 9.13 per cent y/y.

SAX (of Bratislava) closed at 332.37 index points Friday, January 4th. It’s the same result as Thursday’s. It’s up 1.99 per cent y/y.

SOFIX (of Sofia) decreased from 585.33 index points Thursday, January 3rd to 579.83 index points Friday, January 4th. It’s down 0.94 per cent d/d and down 16.09 per cent y/y.

UX (of Kyiv) closed at 1,710.65 index points Friday, January 4th. It’s the same result as Thursday’s. It’s up 25.96 per cent y/y.

WIG20 (of Warsaw) increased from 2,247.22 index points Thursday, January 3rd to 2,284.95 index points Friday, January 4th. It’s up 1.68 per cent d/d and down 9.80 per cent y/y.

 

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