Victor Orban and Beata Szydło want to launch two joint projects

Beata Szydło and Victor Orban, Warsaw, Poland (Kancelaria Premiera, Public domain)

Lithuania: the number of companies’ insolvencies up 35.2 per cent

Odessa Port-Side Plant to go private in 2018?

Poland–Hungary

Hunagry’s PM Victor Orban and Poland’s PM Beata Szydło talked on strengthening economic Polish-Hungarian relations. They discussed “the European Unions’ migration policy, proposed changes to the bloc’s rules for workers and a common digital market”, durign Orban’s visit in Warsaw.

Orban praised Poland’s economic growth and added that Hungarians, Slovakians and Czechs who follows Poland, are “the driving forces of the European Union”. He informed that together with Poland Hungary will launch two major joint business projects, that would impact significantly both economies. The details of the projects are to be discussed in the following weeks and months.

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Lithuania

The number of companies that go bankrupt in Lithuania is growing. As The Baltic Course reports, in 2016 the insolvencies grew by 35.2 per cent. At the same time, in the other Baltic states the number of insolvencies decreased – in Latvia by 12.4 per cent and in Estonia by 10.9 per cent.

The risk insurer Coface, that published the data, estimates that overall the number of insolvencies in the region will be declining in the following years. “A positive signal is an increase of GDP growth and recovery of investments,” The Baltic Course quotes Coface.

Coface also explains the problem with insolvencies in Lithuania was “impacted by the State Tax Inspectorate and Social Fund’s process of cleaning the market of companies which had in reality been insolvent for some time”.

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Ukraine

The Interfax reports that Ukrainian government wants to sell its stake in a public joint-stock company Odesa Port-Side Plant. As reported, the State Property Fund of Ukraine (SPF) will present the firm’s valuation in November and then it will launch a tender. The deal should be closed in 2018.

The company’s main focus is production of ammonia, urea and other chemical products. Odesa Port-Side Plant also does transshipping of products made by other enterprises from Ukraine and Russia: ammonia, urea, methanol, and UAN. 85 per cent of its products are shipped to 30 countries around the world. The plant’s area is about 250 ha. A special 2,471 km long pipeline Togliatti-Gorlovka-Odessa leads to its transshipment terminals.

In 2016 the government tried to sell its stake twice: in July, at the starting price of UAH13.175bn (EUR419m) and then in December at the reduced price of UAH5.16bn (EUR164m).

The agency quotes the SPF head Vitaliy Trubarov: “Taking into account the fact how important the enterprise is for the region and the country, the fund cannot afford delaying the transparent and effective privatization of the plant, thanks to which all problematic issues of its operation could have been solved.”

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What’s up in indexes

BET (of Bucharest) decreased from 7,885.58 index points Thursday, September 21st to 7,848.10 index points Friday, September 22nd.  It’s down 0.48 per cent d/d and up 11.39 per cent y/y.

BUX (of Budapest) increased from 38,109.21 index points Thursday, September 21st to 38,178.63 index points Friday, September 22nd. It’s up 0.18 per cent d/d and up 34.90 per cent y/y.

CROBEX (of Zagreb) increased from 1,827.54 index points Thursday, September 21st to 1,829.42 index points Friday, September 22nd. It’s up 0.10 per cent and down 5.56 per cent y/y.

OMXR (of Riga) decreased from 992.83 index points Thursday, September 21st to 991.28 index points Friday, September 22nd. It’s down 0.16 per cent d/d and up 34.68 per cent y/y.

OMXT (of Tallinn) increased from 1,234.11 index points Thursday, September 21st to 1,235.79 index points Friday, September 22nd. It’s up 0.14 per cent d/d and up 23.83 per cent y/y.

OMXV (of Vilnius) decreased from 647.96 index points Thursday, September 21st to 645.57 index points Friday, September 22nd. It’s down 0.37 per cent d/d and up 18.50 per cent y/y.

PX (of Prague) decreased from 1,047.80 index points Thursday, September 21st to 1,046.51 index points Friday, September 22nd. It’s down 0.12 per cent d/d and up 19.48 per cent y/y.

SAX (of Bratislava) decreased from 333.27 index points Thursday, September 21st to 332.09 index points Friday, September 22nd. It’s down 0.35 per cent d/d and up 5.10 per cent y/y.

There was no trading at SOFIX (of Sofia) on Friday, September 22nd. The day before it closed at 678.65 index points. It was up 39.95 per cent y/y.

UX (of Kyiv) decreased from 1,137.18 index points Thursday, September 21st to 1,131.40 index points Friday, September 22nd. It’s down 0.51 per cent d/d and up 41.11 per cent y/y.

WIG20 (of Warsaw) increased from 2,468.72 index points Thursday, September 21st to 2,480.73 index points Friday, September 22nd. It’s up 0.49 per cent d/d and up 39.66 per cent y/y.

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