Romania with EUR400m from the World Bank

Bucharest, Romania (Mario Sánchez Prada, CC BY-SA)

Lithuanian banks’ net profit up 1.9 per cent y/y

Polish PGNiG will be purchasing LNG from the USA

Romania

The World Bank (WB) wants to help Romania develop the country’s disaster risk management policies. In order to do so, it provides Romania with EUR400m loan. The SEE News Corporate Wire informs that the agreement between the WB and Romania includes “a Catastrophe Deferred Drawdown Option (CAT DDO) that aims to support Romania’s efforts to effectively prepare and react to natural disasters and climate change”.

In its press release the WB points out that Romania faces some of the greatest seismic risks among European Union member states. In the last two centuries “thousands of lives have been lost and tens of thousands of buildings have been damaged by the earthquakes”.

Moreover, between 1970 and 2016 there were 85 natural disasters in the country, including 47 floods. 

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Lithuania

The Baltic Course informs, after the Bank of Lithuania, that banks operating in Lithuania earned EUR83.3m in net profits in Q1’18. It’s up 1.9 per cent y/y. The Bank of Lithuania explained that 10 local banks and branches of foreign banks were profitable and two market participants suffered losses.

As reported, the key source of banks’ income was net interest (making 2/3 of all revenues). It reached EUR110.7m in the period mentioned. Net service and commission income was up 11.8 per cent – to EUR53.3m. At the same time, banks’ administrative costs increased 8.8 per cent – to EUR77.6m.

Lithuanian banks assets were EUR26.105bn in March 2018 (up 1 per cent y/y).  

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Poland

Poland’s state-owned gas company PGNiG informed it signed a long-term agreement with two companies from the USA (US Port Arthur LNG and Venture Global LNG) for the purchase of liquefied natural gas (LNG) – the Polish Radio informs. As reported, in over 20 years PGNiG will import more than 100 billion cubic meters of LNG from the USA.

The Radio points out that US Port Arthur LNG and Venture Global LNG are LNG terminals under constructions. They are scheduled to be completed by 2022 and 2023 respectively. They are located on the Gulf of Mexico.

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What’s up in indexes

BET (of Bucharest) decreased from 7,966.28 index points Tuesday, June 26th to 7,943.78 index points Wednesday, June 27th. It’s down 0.27 per cent d/d and down 3.18 per cent y/y.

BUX (of Budapest) increased from 35,352.00 index points Tuesday, June 26th to 35,587.46 index points Wednesday, June 27th. It’s up 0.67 per cent d/d and down 0.16 per cent y/y.

CROBEX (of Zagreb) decreased from 1,814.03 index points Tuesday, June 26th to 1,812.65 index points Wednesday, June 27th. It’s down 0.08 per cent d/d and down 0.99 per cent y/y.

OMXR (of Riga) decreased from 1,058.90 index points Tuesday, June 26th to 1,050.76 index points Wednesday, June 27th. It’s down 0.77 per cent change d/d and up 10.56 per cent y/y.

OMXT (of Tallinn) decreased from 1,272.41 index points Tuesday, June 26th to 1,267.94 index points Wednesday, June 27th. It’s down 0.35 per cent d/d and up 10.87 per cent y/y.

OMXV (of Vilnius) decreased from 712.92 index points Tuesday, June 26th to 710.76 index points Wednesday, June 27th. It’s down 0.30 per cent change d/d and up 19.74 per cent y/y.

PX (of Prague) decreased from 1,061.49 index points Tuesday, June 26th to 1,051.72 index points Wednesday, June 27th. It’s down 0.92 per cent d/d and up 7.76 per cent y/y.

SAX (of Bratislava) increased from 326.03 index points Tuesday, June 26th to 326.07 index points Wednesday, June 27th. It’s up 0.01 per cent d/d and up 5.15 per cent y/y.

SOFIX (of Sofia) increased from 631.87 index points Tuesday, June 26th to 633.54 index points Wednesday, June 27th. It’s up 0.26 per cent d/d and down 9.12 per cent y/y.

UX (of Kyiv) increased from 1,574.13 index points Tuesday, June 26th to 1,580.37 index points Wednesday, June 27th. It’s up 0.40 per cent d/d and up 50.83 per cent y/y.

WIG20 (of Warsaw) decreased from 2,153.40 index points Tuesday, June 26th to 2,143.25 index points Wednesday, June 27th. It’s down 0.47 per cent d/d and down 8.61 per cent y/y.

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