Ukraine lost 20.4 per cent of GDP due to conflict in Donbass

Donbass, Ukraine (NICO VENDOME55, CC BY-ND)

In Poland taxi drivers protest against Uber

In Lithuania and Latvia electricity prices up to 40 per cent

Ukraine

Interfax reports that Ukraine lost up to 20.4 per cent of GDP in 2016 due to the conflict in Donbass. It’s as much as USD66.749bn in the purchasing power index.

The data comes from the Global Peace Index of the Institute for Economics and Peace in Sydney (Australia). Ukraine ranks 154th in the index (up 2 points y/y) and Russia ranks 151st.

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Poland

The streets of four Polish cities: Warsaw, Poznan, Wroclaw and Lodz are jammed with cars because Polish taxi drivers are protesting against the increasing number of drivers working without licenses – namely Uber drivers, mytaxi drivers and more. They are “driving at a crawling pace and blocking traffic”.

Regular taxi drivers demand actions to be undertaken by the government to protect their interests.

As The New York Times reports, the protesters also plan a demonstration in front of the office of Poland’s Prime Minister. Taxi drivers also informed that today’s strike is just a beginning.

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Lithuania and Latvia

Baltic Course informs that the disconnection of the power link NordBalt caused a significant increase of electricity prices in Lithuania and Latvia. As the Nord Pool electricity market, where the electricity transmitted via NordBalt is being traded, reveals the cost of kilowatt-hour was EUR50.36, up 40 per cent compared with the ordinary level.

The NordBalt interconnection was closed for repairs on Saturday, June 3rd and will be activated again on June 18th.

The submarine power cable between Klaipeda (Lithuania) and Nybro (Sweden) was launched in early 2016. It is 450 km long and its maximum capacity is 700 MW.

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What’s up in indexes

BET (of Bucharest) increased from 8,769.41 index points Wednesday, May 31st to 8,769.41 index points Friday, June 2nd. It’s up 0.77 per cent Wednesday to Friday and up 37.94 y/y.

BUX (of Budapest) increased from 34,762.46 index points Thursday, June 1st to 35,150.44 index points Friday, June 2nd. It’s up 1.12 per cent d/d and up 29.19 per cent y/y.

CROBEX (of Zagreb) increased from 1,842.42 index points Thursday, June 1st to 1,853.31 index points Friday, June 2nd. It’s up 0.26 per cent d/d and up 11.50 per cent y/y.

OMXR (of Riga) increased from 855.33 index points Thursday, June 1st to 858.59 index points Friday, June 2nd. It’s up 0.38 per cent d/d and up 32.75 per cent y/y.

OMXT (of Tallinn) increased from 1,122.70 index points Thursday, June 1st to 1,123.64 index points Friday, June 2nd. It’s up 0.08 per cent d/d and up 12.89 per cent y/y.

OMXV (of Vilnius) decreased from 591.95 index points Thursday, June 1st to 591.61 index points Friday, June 2nd. It’s down 0.06 per cent d/d and up 14.85 per cent y/y.

PX (of Prague) decreased from 1,006.08 index points Thursday, June 1st to 1,005.81 index points Friday, June 2nd. It’s down 0.03 per cent d/d and up 13.21 per cent y/y.

SAX (of Bratislava) closed at 306.92 index points Friday, June 2nd. It’s the same result as Thursday’s. It’s 0 per cent change d/d and down 3.77 per cent y/y.

SOFIX (of Sofia) increased from 664.08 index points Thursday, June 1st to 670.48 index points Friday, June 2nd. It’s up 0.96 per cent d/d and up 50.35 per cent y/y.

UX (of Kyiv) increased from 1,001.55 index points Thursday, June 1st to 1,003.59 index points Friday, June 2nd. It’s up 0.20 per cent d/d and up 56.52 per cent y/y.

WIG20 (of Warsaw) increased from 2,278.26 index points Thursday, June 1st to 2,303.21 index points Friday, June 2nd. It’s up 1.10 per cent d/d and up 30.69 per cent y/y.

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