CityBee ride-sharing company plans to invest in Latvia
Russia to invest EUR35m in the main hub for the Northern Sea Route
According to the Emerging Europe “Business Friendly City Perception Survey” Warsaw is the most business-friendly city in Central and Southeast Europe (CSE). The survey was done based on a panel of 25 global location advisers and foreign direct investment executives. Alongside Warsaw, six other cities from Poland made the top 10 of CSE’s Business Friendly Cities: Poznań, Łodź, Wrocław and Gdańsk. Vilnius, Kaunas, Prague, Ljubljana and Budapest also make the top 10.
“A large number of the region’s cities have begun to take the initiative and do things for themselves in recent years, often in spite of the wishes of central governments. The reason is simple: these cities don’t want to be held back by long, cumbersome decision-making processes which stifle initiative, innovation and hinder foreign direct investment,” Andrew Wrobel, Emerging Europe’s founding partner commented.
Lithuania and Latvia
Lithuanian ride-sharing company, CityBee plans to invest EUR1m in Latvia this year. The company launched its operations in Latvia this March, offering rent of vehicles for cargo transportation through a mobile app. CityBee Latvija head Egita Gailuma said that the service is in high demand, therefore the company plans to expand its operations this year.
Starting from today CityBee has launched rent of electric scooters in Riga and plans to become the leader of this service. Initially the company will offer 150 scooters, and plans to increase this number to 500. The company also plans to start car rental services this year.
Investments in reconstruction and upgrade of infrastructures at the Tiksi seaport in northern Yakutia are estimated at EUR35m and will start this year, TASS News Agency informed citing regional government.
Tiksi is a key port on the Northern Sea Route. Initially its capacity was projected at 600,000 tons, however, the cargo flow has been declining, and nowadays the port serves local shipments only. “3-5 per cent of the port’s capacities are used. The port’s biggest problem is the worn-out equipment,” the regional Ministry of Transport told TASS. The upgraded port will serve coal transportation from the Taimylyr deposit, where reserves are forecasted at 323 million tons.
The Northern Sea Route is a shipping lane between the Atlantic Ocean and the Pacific Ocean. along the Russian coast of Siberia and the Far East (read more). Distance from Northern Europe to China and vice versa are approximately 40 per cent shorter than via the Suez Canal or 60 per cent shorter via the Cape of Good Hope.
What’s up in indexes
BET (of Bucharest) decreased from 8814.27 index points Friday, June 28th to 8780.33 index points Monday, July 1st. It’s down 0.48 per cent d/d and up 9.48 per cent y/y.
BUX (of Budapest) increased from 40279.31 index points Friday, June 28th to 40618.00 index points Monday, July 1st. It’s up 0.84 per cent d/d and up 13.2 per cent y/y.
OMXR (of Riga) decreased from 1021.80 index points Friday, June 28th to 1020.98 index points Monday, July 1st. It’s down 0.08 per cent d/d and down 1.63 per cent y/y.
OMXT (of Tallinn) increased from 1254.55 index points Friday, June 28th to 1255.81 index points Monday, July 1st. It’s up 0.10 per cent d/d and down 0.29 per cent y/y.
OMXV (of Vilnius) increased from 665.87 index points Friday, June 28th to 667.62 index points Monday, July 1st. It’s up 0.26 per cent d/d and down 6.03 per cent y/y.
PX (of Prague) decreased from 1041.73 index points Friday, June 28th to 1039.84 index points Monday, July 1st. It’s down 0.18 per cent d/d and down 2.86 per cent y/y.
RTS (of Moscow) increased from 1380.52 index points Friday, June 28th to 1401.64 index points Monday, July 1st. It’s up 1.53 per cent d/d and up 21.7 per cent y/y.
SAX (of Bratislava) decreased from 345.27 index points Friday, June 28th to 337.84 index points Monday, July 1st. It’s down 2.15 per cent d/d and down 3.61 per cent y/y.
SOFIX (of Sofia) decreased from 587.81 index points Friday, June 28th to 582.70 index points Monday, July 1st. It’ down 0.87 per cent d/d and down 7.04 per cent y/y.
UX (of Kyiv) decreased from 1652.31 index points Friday, June 28th to 1631.32 index points Monday, July 1st. It’ down 1.27 per cent d/d and up 1.87 per cent y/y.
WIG20 (of Warsaw) increased from 2327.67 index points Friday, June 28th to 2329.74 index points Monday, July 1st. It’s up 0.09 per cent d/d and up 9.93 per cent y/y.