The new Lithuanian LNG business model

(CC BY ND Robert Photography)

Croatia nad Bosnia to discuss key bridge project

Hungary must reach EU average GDP to adopt euro

Minimum wage to grow in Poland 

Poland

The Polish Radio reports the minimum monthly wage in Poland will be increased to PLN2,000 (approx. EUR 460).

The new rules signed by Beata Szydło, Poland’s Prime Minister will come into force on January 1st 2016 and will guarantee a minimum monthly wage 8.1 per cent higher than the current one.

It iw worth remembering in August 2016 Polish President Andrzej Duda signed a bill under which the country’s minimum wage will be set at PLN12 (EUR 2.73) an hour from 2017.

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Croatia and Bosnia

„Croatian and Bosnian officials will meet to discuss the construction of a long-delayed new bridge linking the two countries which is important for the development of Bosnia’s Serb-dominated entity Republika Srpska” – the Balkan Insight reports.

Ten new bridge across the River Sava is to connect the city of Gradiska in Bosnia’s Republika Srpska and the Croatian municipality of Stara Gradiska.

The cost of the project is estimated at approx. EUR32m.

The talks about the construction have last for about 12 years. Works have been delayed because it lacked documents needed to open the tender for the work on the bridge have not been drawn up yet, including some environmental permissions etc.

„The construction of the bridge is of primary importance for the infrastructure of Republika Srpska, especially in the light of the recent inauguration of a highway connecting two of the major cities in the entity, Banja Luka and Doboj” – the Balkan Insight quotes the Bosnian Serb Ministry of Transport and Communications.

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Lithuania and Norway

Lithuanian Litgas and Norwegian Statoil worked out a business model of their cooperation in th fild of liquefied natural gas (LNG). Today, September 15th, the companies are to sign the agreement. The firms will not establish a joint enterprise. Statoil „will sell LNG via the Lithuanian LNG terminal of Klaipeda, filling LNG-powered vessels in the Baltic Sea and supply gas to smaller terminals that cannot accept big gas carriers, while Litgas will only balance the gas flows” – the Baltic Course informs.

The portal also reminds, the development of the joint small-scale LNG business was envisaged in the LNG acquisition contract signed back in 2014, while the preliminary agreement on establishment of the joint enterprise was signed in the summer of 2015.

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Hungary

After the words of Mihály Varga, Hungarian Minister for National Economy that Hungary could adopt the euro by the end of the decade, the National Bank of Hungary (MNB) express its standpoint.

György Matolcsy, governor of the MNB said the country should only adopt the euro if its GDP per capita reaches the European Union average and if its state debt as a percentage of GDP falls under the 50 per cent threshold.

The Budapest Business Journal quotes Mr. Matolcsy saying:

„It would be advisable to give up the forint and adopt the euro only when Hungary is strong enough and fully achieves the level of development of the eurozone”.

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What’s up in indexes

BUX (of Budapest) was up 0.96 per cent d/d and up 17.45 per cent from year-end. So it decreased from 27828.01 index points Tuesday, September 14th to 28095.35 index points Wednesday, September 14th.

BET (of Bucharest Stock Exchange) dropped by 0.12 per cent d/d and by 1.01 per cent from year-end. It decreased from 6939.27 index points Tuesday, September 13th to 6931.06 index points Wednesday, September 14th.

PX (of Prague Stock Exchange) dropped by 0.09 per cent d/d and by 9.29 per cent from year-end. It decreased from 868.29 index points Tuesday, September 13th to 867.47 index points Wednesday, September 14th.

WIG20 (of Warsaw) was up 0.52 per cent d/d – increasing from 1727.69 index points Tuesday, September 13th to 1736.68 index points Wednesday, September 14th.
OMXT (of Tallinn) decreased from 999.90 index points Tuesday, September 13th to 994.84 index points Wednesday, September 14th. So it dropped by 0.51 per cent. From year-end it’s up 10.66 per cent.

OMXR (of Riga) dropped by 0.13 per cent – falling from 685.81 index points Tuesday, September 13th to 684.95 index points Wednesday, September 14th. From year-end it’s up 15.24 per cent.

OMXV (of Vilnius) dropped by 0.12 per cent – decreasing from 539.71 index points Tuesday, September 13th to 539.04 index points Wednesday, September 14th. From year-end it’s up 10.92 per cent.

SAX (of Bratislava) closed at 316.77 index points Wednesday, September 14th. It’s the same result as Tuesday’s. From year-end it’s up 8.35 per cent.

SOFIX (of Sofia) dropped by 0.42 per cent – falling from 474.59 index points Tuesday, September 13th to 472.62 index points Wednesday, September 14th. From year-end it’s up 2.54 per cent.

UX (of Kyiv) increased from 761.11 index points Tuesday, September 13th to 764.37 index points Wednesday, September 14th. So it’s up 0.43 per cent d/d and up 11.45 per cent from year-end.

CROBEX (of Zagreb) dropped by 0.22 per cent – decreasing from 1869.19 index points Tuesday, September 13th to 1864.99 index points Wednesday, September 14th. From year-end it’s up 10.38 per cent.

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