UK companies to invest more in Poland

(Iker Merodio, CC BY-ND 2.0)

Hungary tops EU anti-fraud investigations

Toyota is expanding its factory in Russia

Poland

Three out of four companies owned or co-owned by British investors are planning to increase their investment and employment in Poland, a report on Polish-UK economic relations, prepared by the consulting firm Deloitte stated. According to the report, British companies employ nearly 115,000 people in Poland. In the Q1’19, the UK’s share in Polish exports amounted to 6.6 per cent and Britain remains one of Poland’s key trade partners.

Deloitte’s report also shows that between 1995 and 2017 UK companies invested EUR11bn in Poland, thanks to which Poland’s GDP was EUR3.44bn higher in 2017.

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Hungary

European Anti-Fraud Office (OLAF), has released a report stating that almost 4 per cent of development funding that went to Hungary between 2014-2018 is questionable, by far the highest percentage in the EU. “The agency recommends the repayment or withdrawal of billions of EUR,” Budapest Business Journal reports.

Slovakia was the EU’s second biggest culprit, where 14 investigations led to recovery recommendations against 2.29 per cent of payments. While Romania saw the highest number of investigations, 66, OLAF recommended only 0.4 per cent of payments should be recovered.

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Russia

“Japan’s Toyota Motor plans to invest additionally USD303m in its facility in St. Petersburg by 2028,” Japanese Prime Minister Shinzo Abe announced at the Eastern Economic Forum in Vladivostok. According to local media it will be invested in modernization of production facilities, for the purpose of increasing the production volume of Toyota vehicles. In 2019 production capacity of the plant is 100,000 vehicles per year.

The Toyota Motor Plant in St. Petersburg was opened in 2007 and currently produces Camry and RAV4 models. Cars are supplied to the Russian market and exported to Kazakhstan and Belarus.

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What’s up in indexes

BET (of Bucharest) increased from 9273.49 index points Wednesday, September 4th to 9282.37 index points Thursday, September 5th. It’s up 0.23 per cent d/d and up 11.7 per cent y/y.

BUX (of Budapest) increased from 39573.00 index points Wednesday, September 4th to 40181.00 index points Thursday, September 5th. It’s up 1.08 per cent d/d and up 8.20 per cent y/y.

OMXR (of Riga) decreased from 1024.71 index points Wednesday, September 4th to 1023.81 index points Thursday, September 5th. It’s down 0.09 per cent d/d and up 6.55 per cent y/y.

OMXT (of Tallinn) increased from 1224.71 index points Wednesday, September 4th to 1235.81 index points Thursday, September 5th. It’s down 0.01 per cent d/d and up 1.12 per cent y/y.

OMXV (of Vilnius) increased from 687.63 index points Wednesday, September 4th to 688.28 index points Thursday, September 5th. It’s up 0.09 per cent d/d and down 0.93 per cent y/y.

PX (of Prague) increased from 1028.39 index points Wednesday, September 4th to 1040.28 index points Thursday, September 5th. It’s up 1.16 per cent d/d and down 2.32 per cent y/y.

RTS (of Moscow) increased from 1330.77 index points Wednesday, September 4th to 1337.92 index points Thursday, September 5th. It’s up 0.54 per cent d/d and up 25.2 per cent y/y.

SAX (of Bratislava) increased from 341.37 index points Wednesday, September 4th to 345.09 index points Thursday, September 5th. It’s up 1.09 per cent d/d and down 2.76 per cent y/y.

SOFIX (of Sofia) increased from 573.20 index points Wednesday, September 4th to 574.10 index points Thursday, September 5th. It’s up 0.15 per cent d/d and down 8.60 per cent y/y.

UX (of Kyiv) increased from 1533.80 index points Wednesday, September 4th to 1548.76 index points Thursday, September 5th. It’s down 0.98 per cent d/d and down 5.07 per cent y/y.

WIG20 (of Warsaw) increased from 2102.73 index points Wednesday, September 4th to 2106.89 index points Thursday, September 5th. It’s up 0.20 per cent d/d and down 8.22 per cent y/y.

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