Toyota will invest EUR150m in Poland

(feministjulie, CC BY-NC-ND)

Czech automobile sector with a million cars produced in Jan-Sept 2016

Romanian PM wants to invest money recovered from corruption

Huawei searches for new opportunities in Hungary

Poland

Japanese Toyota and Polish Deputy Prime Minister Mateusz Morawiecki has informed that the company will invest another PLN650m (EUR150m) in Poland. It will build new production lines for hybrid engines. Toyota has already investet some EUR900m in the country.  The Polish Radio quotes Morawiecki: “Toyota is a world leader in hybrid engines and hybrid cars. Above all, we are glad that specialized companies, such as Toyota, a global automotive leader, will work with [Polish] highly qualified staff to produce new products.”

The Polish Radio also points out that Morawiecki is „happy that the technology will be transferred to Poland”.

Earlier this month Daimler AG has announced that it plans to invest more than EUR500m in Poland. It will build an engine factory in southwest Poland.

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Czech Republic

Radio Praha reports the new record was set in the Czech automobile industry. In the period January – September 2016 over a million cars were produced. It’s up 7.3 per cent y/y.

„On Wednesday, data released by the Automotive Industry Association confirmed a new record: one million cars (996,376, according to news site iDnes) were produced in the first nine months of 2016, putting the industry on track to roll out 1.3 million vehicles by the year’s end. The head of the Automotive Industry Association, Martin Jahn, told financial news site iHned that the increase had been spurred by domestic demand, as well as a demand for Czech-built cars in the Western Europe,” the Radio Praha writes.

The Czech Republic has three major car makers:

  • Mladá Boleslav-based Škoda Auto;
  • TPCA in Kolín;
  • Hyundai in Nošovice.

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Romania

Dacian Ciolos, Romanian Prime Minister, said on October 20th that „justice is not complete as long as the state doesn’t recover the goods derived from illegal acts.” Ciolos informed the money recovered from corruption cases should be invested in education, health care and other social projects.

Romania Insider quotes Romanian PM: “Decisions that only punish the person in question are not enough without showing that the state, the judiciary system, the government in general is capable to bring justice to the end. We’ve decided that these funds, the resources recovered by ANABI agency [the National Agency for Managing Seized Assets], will go to education, health, social projects and thus we’ll give a clear target to these funds.”

The state has to recover more than EUR500m from people convinced for various crimes, including tax evasion.

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Hungary

Huawei wants to join test track construction in Hungary. Hungary’s Economy Minister Mihály Varga had discussed it with Zheng Weifeng, CEO of Huawei Technologies Hungary Ltd. Varga informed that the company showed interest in joining a test track construction in Zalaegerszeg.  The investment is worth HUF40bn (EUR130m) and is supposed to accommodate testing of driverless cars. 

In September 2016 Huawei has announced it plans to build Hungary’s 4th mobile network. It’s the second-largest Chinese investor in the country – employing 2000 people.

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What’s up in indexes

BUX (of Budapest) was up 0.59 per cent d/d and up 22.66 per cent from year-end. It increased from 29168.00 index points Wednesday, October 19th to 29340.88 index points Thursday, October 20th.

BET (of Bucharest Stock Exchange) increased from 6870.87 index points Wednesday, October 19th to 6908.27 index points Thursday, October 20th. So it’s up 0.54 per cent. From year-end it dropped by 1.34 per cent.

PX (of Prague) dropped by 0.12 per cent – falling from 922.50 index points Wednesday, October 19th to 921.35 index points Thursday, October 20th. From year-end it dropped by 3.66 per cent.

WIG20 (of Warsaw) was up 0.26 per cent d/d. It increased from 1744.53 index points Wednesday, October 19th to 1748.99 index points Thursday, October 20th. From year-end it dropped by 5.93 per cent.

OMXT (of Tallinn) was up 0.42 per cent – increasing from 1023.58 index points Wednesday, October 19th to 1027.90 index points Thursday, October 20th. From year-end it’s up 14.34 per cent.

OMXR (of Riga) decreased from 714.87 index points Wednesday, October 19th to 714.40 index points Thursday, October 20th. So it dropped by 0.07 per cent d/d. From year-end it’s up 20.20 per cent.

OMXV (of Vilnius) dropped by 0.06 per cent. It decreased from 546.78 index points Wednesday, October 19th to 546.46 index points Thursday, October 20th. From year-end it’s up 12.44 per cent.

SAX (of Bratislava) was up 0.10 per cent – increasing from 314.73 index points Wednesday, October 19th to 315.03 index points Thursday, October 20th. From year-end it’s up 7.76 per cent.

SOFIX (of Sofia) dropped by 0.12 per cent – falling from 506.31  index points Wednesday, October 19th to 505.72 index points Thursday, October 20th. From year-end it’s up 9.72 per cent.

UX (of Kyiv) dropped by 0.45 per cent – falling from 838.81 index points Wednesday, October 19th to 835.05 index points Thursday, October 20th. From year-end it’s up 21.755 per cent.

CROBEX (of Zagreb) decreased from 1981.71 index points Wednesday, October 19th to 1966.23 index points Thursday, October 20th. So it dropped by 0.78 per cent d/d. From year-end it’s up 16.37 per cent.

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