Stevo Pendarovski will be the new President of North Macedonia

Stevo Pendarovski (©PAP)

Hungarian bank acquired Société Générale Slovenian unit

GE to build a power plant in Kosovo

North Macedonia

Stevo Pendarovski won the presidential race in North Macedonia. With 100 per cent of the votes counted Mr. Pendarovski had 51.7 per cent. His opponent, Gordana Siljanovska-Davkova, the candidate favored by the main conservative opposition party, got 44.7 per cent of votes, according to election authorities.

Mr. Pendarowski was the candidate of the ruling coalition. A 55 year old former political-science professor, has strongly supported the deal signed with Greece on the name change of Macedonia. The agreement ended a decades-long dispute that had blocked the Balkan state’s path to NATO and the European Union.

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Slovenia

Hungarian OTP Bank signed an agreement to acquire 99.73 per cent stake in SKB Banka, the Slovenian subsidiary of the French Société Générale Group. SKB Bank is the 4th biggest bank in Slovenia with nearly 9 per cent of a market share.

The transaction is expected to be finalized in the coming months, as it is subjected to regulatory approvals. OTP did not disclose the value of transaction.

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Kosovo

US giant, General Electric has been selected to build a new 500 MW coal-fired power plant in Kosovo. The new plant, designed to meet nearly half of the country’s power demand, is valued at USD1.3bn, with financing expected to come from the Overseas Private Investment Corporation and export credit agencies.

Environmentalists have complained the new plant could lock Kosovo into a future powered by lignite — the dirtiest form of coal — but the government says the new plant would burn 40 per cent less coal and release 20 times less emissions than the two ailing coal-fired plants that currently produce 90 per cent of the country’s electricity.

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What’s up in indexes

BET (of Bucharest) decreased from 8446.20 index points Thursday, May 2nd to 8443.43 index points Friday, May 3rd. It’s down 0.08 per cent d/d and down 3.01 per cent y/y.

BUX (of Budapest) decreased from 42367.00 index points Thursday, May 2nd to 41775.36 index points Friday, May 3rd. It’s down 1.40 per cent d/d and up 10.9 per cent y/y.

OMXR (of Riga) increased from 1027.05 index points Thursday, May 2nd to 1028.36 index points Friday, May 3rd. It’s up 0.13 per cent d/d and down 0.26 per cent y/y.

OMXT (of Tallinn) increased from 1254.64 index points Thursday, May 2nd to 1257.85 index points Friday, May 3rd. It’s up 0.26 per cent d/d and up 0.69 per cent y/y.

OMXV (of Vilnius) decreased from 683.76 index points Thursday, May 2nd to 682.90 index points Friday, May 3rd. It’s down 0.13 per cent d/d and down 3.38per cent y/y.

PX (of Prague) decreased from 1083.50 index points Thursday, May 2nd to 1079.63 index points Friday, May 3rd. It’s down 0.36 per cent d/d and down 3.03 per cent y/y.

RTS (of Moscow) increased from 1238.05 index points Thursday, May 2nd to 1248.39 index points Friday, May 3rd. It’s up 0.84 per cent d/d and up 10.7 per cent y/y.

SAX (of Bratislava) closed at 359.19 index points Friday, May 3rd. It’s the same result as Thursday’s. It’s 0 per cent change d/d and up 10.01 per cent y/y.

SOFIX (of Sofia) decreased from 572.10 index points Thursday, May 2nd to 571.30 index points Friday, May 3rd. It’s down 0.14 per cent d/d and down 13.28 per cent y/y.

UX (of Kyiv) closed at 1679.29 index points Friday, May 3rd. It’s the same result as Thursday’s. It’s 0 per cent change d/d and down 5.69 per cent y/y.

Friday, May 3rd was a non-trading day at Warsaw Stock Exchange. WIG20 (of Warsaw) closed at 2319.08 index points Thursday, May 2nd . It’s up 1.19 per cent y/y.

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