Workers from Southern Europe go to Czech Republic

Prague, Czech Republic (Aidan McMichael, CC BY-NC-ND)

Poland: consumer debt can be written off after 6 years

Serbia’s railway deal with China is worth EUR943m

Czech Republic

The Czech Republic is luring workers from Southern Europe, the Radio Praha informs. As reported, Italians are the most numerous, but Czech companies also employ Spanish and Portuguese workers. The number of those people has tripled in a decade.

According to the Czech Chamber of Commerce, there are 3,500 Italians, 1,900 Spaniards, 1,000 Greeks and 700 Portuguese working for companies operating in the Czech Republic. The institution has estimated that when it comes to Spanish and Portuguese workers the numbers had tripled in the last 10 years. In the case of Greeks and Italians—a two-fold increase has been observed.

Still, there is a record number of vacant positions on the Czech labor market and the Czech Chamber of Commerce estimates that “domestic companies are lacking a full 300,000 employees” (read more). 

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Poland

Poland has introduced new rules beneficial for the consumers. According to the new law, consumers with unpaid debt will have their dues written off after 6 years instead of 10, the Polish Radio informs.

The Radio quotes Jan Kanthak, spokesman of the Ministry of Justice, who said that the new regulations obliged courts to check if claims were still valid. “As a result, consumers will be better protected against dishonest debt collection companies, which sometimes pursue outdated claim,” Mr. Kanthak commented.

The Polish Radio points out that the new rules do not affect business debts, which become overdue in Poland after three years.

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Serbia

Chinese companies will overhaul a section of the railway linking Serbia’s capital Belgrade with Hungary’s capital, Budapest. As reported, the modernization of the 108.1 kilometre long Serbian section Novi Sad-Subotica “will help increase freight traffic along the Belgrade-Budapest railway line”.

SEE News Corporate Wire informs that the main contractors are China Railway International (CRI) and China Communications Construction Company (CCCC). The companies are also responsible for the overhaul of the Belgrade-Stara Pazova section of the railway, which is part of pan-European transport Corridor X. Works on Novi Sad-Subotica modernization will start in 2019. The deal is worth EUR943m.

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What’s up in indexes

BET (of Bucharest) increased from 7,835.34 index points Friday, July 6th to 7,865.40 index points Monday, July 9th. It’s up 0.37 per cent d/d and down 3.04 per cent y/y.

BUX (of Budapest) decreased from 35,775.73 index points Friday, July 6th to 35,677.00 index points Monday, July 9th. It’s down 0.28 per cent d/d and down 0.13 per cent y/y.

CROBEX (of Zagreb) decreased from 1,803.60 index points Friday, July 6th to 1,799.90 index points Monday, July 9th. It’s down 0.21 per cent d/d and down 1.11 per cent y/y.

Monday, July 9th was a non-trading day at Nasdaq Riga. OMXR (of Riga) closed at 1,036.89 index points Friday, July 6th. It’s up 7.39 per cent y/y.

OMXT (of Tallinn) increased from 1,254.75 index points Friday, July 6th to 1,260.37 index points Monday, July 9th. It’s up 0.45 per cent d/d and up 7.88 per cent y/y.

OMXV (of Vilnius) increased from 707.78 index points Thursday, July 5th to 709.01 index points Monday, July 9th. It’s up 0.17 per cent d/d and up 17.94 per cent y/y.

PX (of Prague) increased from 1,077.56 index points Wednesday, July 4th to 1,080.93 index points Monday, July 9th. It’s up 0.31 per cent d/d and up 8.20 per cent y/y.

SAX (of Bratislava) closed at 330.34 index points Monday, July 9th. It’s the same result as Friday’s. It’s 0 per cent change d/d and down 1.38 per cent y/y.

SOFIX (of Sofia) decreased from 633.69 index points Friday, July 6th to 628.36 index points Monday, July 9th. It’s down 0.84 per cent d/d and down 11.41 per cent y/y.

UX (of Kyiv) increased from 1,552.79 index points Friday, July 6th to 1,557.16 index points Monday, July 9th. It’s up 0.28 per cent d/d and up 48.09 per cent y/y.

WIG20 (of Warsaw) decreased from 2,152.06 index points Friday, July 6th to 2,151.70 index points Monday, July 9th. It’s down 0.02 per cent d/d and down 6.28 per cent y/y.

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