Romania: an average net wage up 14.4 per cent y/y

Bucharest, Romania (Dan M, CC BY)

Ukraine and Russia prepare for “gas talks”

Hungarian MOL with EUR555m revolving credit facility

Romania

According to the National Statistics Institute of Romania the average net wage in the country in May 2018 was of RON2,704 (EUR584). It’s down 0.3 per cent compared to April 2018 and up 14.4 per cent y/y. At the same time the gross nominal average earning was of RON4,494 (EUR970), so it dropped 0.4 per cent m/m.

The Romania Insider points out that the highest average net wage was observed in the IT services sector—it was RON6,437 (EUR 1,390). The lowest were observed in the hospitality sector—RON1,554 (EUR335).

“The most significant decreases in net average earnings were recorded in insurance, reinsurance and pension funds (except those in the public social insurance system)—down 16.7 per cent and in the extraction of crude oil and natural gas—down 15.3 per cent,” the Romania Insider writes.

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Ukraine and Russia

The Interfax informs that the representatives of Russia, Ukraine and the EU are planning to hold a trilateral meeting. As reported, it will take place in Berlin. “The key agenda of the talks will be discussion of the terms of transit via Ukrainian territory to European consumers, including the duration of transit agreements between Gazprom and Naftogaz of Ukraine,” the Russian Energy Ministry informed in a statement.

At the same time, the CSE countries, like Poland, are taking steps to weaken their dependence on Russian gas supplies.

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Hungary

The Budapest Business Journal informs that an oil and gas giant, MOL has signed a EUR555m revolving credit facility The credit agreement includes 15 banks and was coordinated by Erste Group Bank AG and KBC Bank NV. As reported, ING Bank NV, London Branch will act as the Facility Agent.

The Hungarian company informed that it has achieved “highly competitive conditions with an initial margin of 75 basis points” and added that “the new facility further enhances the financial profile of MOL Group via maturity profile optimization”.

At the same time a USD930m commitment is to be cancelled under the USD1.55bn revolving credit agreement which was originally concluded on October 2014. The rest of that credit facility remains available.

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What’s up in indexes

BET (of Bucharest) increased from 7,865.40 index points Monday, July 9th to 7,881.21 index points Tuesday, July 10th. It’s up 0.20 per cent d/d and down 2.85 per cent y/y.

BUX (of Budapest) decreased from 35,677.00 index points Monday, July 9th to 35,403.20 index points Tuesday, July 10th. It’s down 0.77 per cent d/d and down 0.90 per cent y/y.

CROBEX (of Zagreb) increased from 1,799.90 index points Monday, July 9th to 1,812.33 index points Tuesday, July 10th. It’s up 0.69 per cent d/d and down 1.66 per cent y/y.

OMXR (of Riga) increased from 1,036.89 index points Friday, July 6th to 1,055.61 index points Tuesday, July 10th.  It’s up 1.81 per cent d/d and up 7.66 per cent y/y.

OMXT (of Tallinn) increased from 1,260.37 index points Monday, July 9th to 1,261.11 index points Tuesday, July 10th. It’s up 0.06 per cent d/d and up 7.95 per cent y/y.

OMXV (of Vilnius) increased from 709.01 index points Monday, July 9th to 709.53 index points Tuesday, July 10th. It’s up 0.07 per cent d/d and up 18.02 per cent y/y.

PX (of Prague) increased from 1,080.93 index points Monday, July 9th to 1,088.89 index points Tuesday, July 10th. It’s up 0.74 per cent d/d and up 9.00 per cent y/y.

SAX (of Bratislava) increased from 330.34 index points Monday, July 9th to 330.79 index points Tuesday, July 10th. It’s up 0.14 per cent d/d and down 1.24 per cent y/y.

SOFIX (of Sofia) increased from 628.36 index points Monday, July 9th to 629.05 index points Tuesday, July 10th. It’s up 0.11 per cent d/d and down 11.31 per cent y/y.

UX (of Kyiv) increased from 1,557.16 index points Monday, July 9th to 1,571.70 index points Tuesday, July 10th. It’s up 0.93 per cent d/d and up 49.48 per cent y/y.

WIG20 (of Warsaw) increased from 2,151.70 index points Monday, July 9th to 2,177.67 index points Tuesday, July 10th. It’s up 1.21 per cent d/d and down 5.35 per cent y/y.

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