Toyota announced EUR70m investment in Poland

Poland’s PM Mateusz Morawiecki in Walbrzych, Poland (Adam Guz / KPRM, Public domain)

Ukraine prepares for winter without Russian gas

Croatia introduces new tax reform

Poland

Toyota Motor Manufacturing Poland has announced that in 2021 it will start production of the second electronic continuously variable transmission (e-CVT) at its plant in Wałbrzych, Poland. The company plans to invest EUR70m and create 130 jobs.

Furthermore, in September 2019, in Jelcz-Laskowice plant Toyota will start production of new 2 liter petrol engines based on the TNGA platform (Toyota New Global Architecture). The site will employ further 500 people over the next two years.

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Ukraine

Ukraine is filling its underground storage facilities with natural gas, preparing for the winter without Russian fuel, representative of the Ukrainian President in the Cabinet of Ministers Andrey Gerus informed. “We are preparing to have fully filled storage facilities and, using this resource, go through the winter without gas from Russia,” Mr. Gerus said.

Russian Energy Minister Alexander Novak announced earlier that Russia had offered Ukraine to extend for a year the current contract on gas transit, which expires in December 2019. However, experts quoted by Reuters News Agency, stressed that the short-term deal is offered only to buy time for Russia to complete pipelines that will bypass Ukraine.

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Croatia

The Croatian government presented the fourth round of the tax reform which, with the previous rounds, brings a total relief of EUR1bn to the taxpayers.

The government decided to reduce VAT from 25 to 24 per cent starting January 2020. Also, people under the age of 25 will be fully exempt from tax obligations, while those from 26 to 30 years of age will get 50 per cent off.

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What’s up in indexes

BET (of Bucharest) increased from 8961.38 index points Friday, July 26th to 8977.39 index points Monday, July 29th. It’s up 0.30 per cent d/d and up 11.4 per cent y/y.

BUX (of Budapest) increased from 40965.48 index points Friday, July 26th to 41006.00 index points Monday, July 29th. It’s up 0.10 per cent d/d and up 14.1 per cent y/y.

OMXR (of Riga) increased from 1032.21 index points Friday, July 26th to 1052.57 index points Monday, July 29th. It’s up 1.87 per cent d/d and up 5.84 per cent y/y.

OMXT (of Tallinn) decreased from 1268.34 index points Friday, July 26th to 1265.70 index points Monday, July 29th. It’s down 0.21 per cent d/d and up 0.60 per cent y/y.

OMXV (of Vilnius) increased from 688.69 index points Friday, July 26th to 690.42 index points Monday, July 29th. It’s up 0.25 per cent d/d and down 3.39 per cent y/y.

PX (of Prague) increased from 1070.58 index points Friday, July 26th to 1070.64 index points Monday, July 29th. It’s up 0.01 per cent d/d and down 2.21 per cent y/y.

RTS (of Moscow) increased from 1348.30 index points Friday, July 26th to 1353.61 index points Monday, July 29th. It’s up 0.39 per cent d/d and up 16.4 per cent y/y.

SAX (of Bratislava) increased from 333.32 index points Friday, July 26th to 339.17 index points Monday, July 29th. It’s up 1.76 per cent d/d and up 2.96 per cent y/y.

SOFIX (of Sofia) decreased from 584.03 index points Friday, July 26th to 584.00 index points Monday, July 29th. It’s down 0.18 per cent d/d and down 7.12 per cent y/y.

UX (of Kyiv) increased from 1587.52 index points Friday, July 26th to 1614.96 index points Monday, July 29th. It’s up 1.73 per cent d/d and down 1.14 per cent y/y.

WIG20 (of Warsaw) decreased from 2305.79 index points Friday, July 26th to 2285.93 index points Monday, July 29th. It’s down 0.39 per cent d/d and up 1.80 per cent y/y.

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