World Bank lends North Macedonia EUR125m

Skopje, North Macedonia (jjmusgrove, CC BY 2.0)

Slovak Kosice offers to buy the US Steel Kosice

Denso opens EUR55m logistics centre in Hungary

North Macedonia

World Bank announced that North Macedonia will receive EUR125m loan “to strengthen public finance sustainability, improve market competition, and lower the regulatory burden on businesses to improve integration with European and global markets”.

“Fiscal sustainability is vital to support long-term growth, in particular in the currently fragile external environment,” Linda Van Gelder, the World Bank’s regional director for the Western Balkans, said.

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Slovakia

Kosice self-governing region (KSK) has offered to buy the US Steel Kosice for EUR1 in an attempt to prevent the consequences of negative developments at the steelworks, in particular further redundancies. The US Steel Kosice, the biggest employer in the region, recently announced that it plans to cut employment by 2,500 workers in 2021. Currently around 12,000 employees work for the company and its subsidiaries.

“The biggest problem they we are currently facing is the so-called environmental tax of the EU,” said the CEO James Bruno adding that the company will deal with the offer after it is officially delivered.

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Hungary

Japanese automotive industry supplier, Denso inaugurated a HUF18.5bn (EUR55m) logistics center at its Hungarian base in Székesfehérvár, in Hungary, MTI news agency informed. The company received a HUF1.5bn (EUR4m) grant from the Hungarian government to the project, the Foreign Affairs and Trade Ministry announced.

Denso, the world’s second largest automotive supplier, has been operating their Hungarian subsidiary for 15 years and has invested over EUR500m in the plant.

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What’s up in indexes

BET (of Bucharest) increased from 9441.69 index points Friday, September 20th to 9470.44 index points Monday, September 23rd. It’s up 0.21 per cent d/d and up 13.0 per cent y/y.

BUX (of Budapest) decreased from 41116.92 index points Friday, September 20th to 40800.00 index points Monday, September 23rd. It’s down 0.77 per cent d/d and up 14.0 per cent y/y.

OMXR (of Riga) increased from 1024.59 index points Friday, September 20th to 1026.37 index points Monday, September 23rd. It’s up 0.17 per cent d/d and up 4.63 per cent y/y.

OMXT (of Tallinn) increased from 1232.67 index points Friday, September 20th to 1238.95 index points Monday, September 23rd. It’s up 0.51 per cent d/d and up 1.68 per cent y/y.

OMXV (of Vilnius) decreased from 694.20 index points Friday, September 20th to 690.47 index points Monday, September 23rd. It’s down 0.54 per cent d/d and down 0.16 per cent y/y.

PX (of Prague) decreased from 1060.32 index points Friday, September 20th to 1045.03 index points Monday, September 23rd. It’s down 1.44 per cent d/d and down 4.43 per cent y/y.

RTS (of Moscow) decreased from 1377.38 index points Friday, September 20th to 1373.49 index points Monday, September 23rd. It’s down 0.28 per cent d/d and up 18.1 per cent y/y.

SAX (of Bratislava) increased from 337.53 index points Friday, September 20th to 340.37 index points Monday, September 23rd. It’s up 0.84 per cent d/d and up 3.75 per cent y/y.

Monday, September 23rd was a non-trading day at Sofia Stock Exchange. SOFIX (of Sofia) closed at 575.86 index points Friday, September 20th. It’s down 8.65 per cent y/y.

UX (of Kyiv) decreased from 1571.44 index points Friday, September 20th to 1534.71 index points Monday, September 23rd. It’s down 2.34 per cent d/d and down 5.64 per cent y/y.

WIG20 (of Warsaw) decreased from 2171.75 index points Friday, September 20th to 2147.32 index points Monday, September 23rd. It’s down 1.12 per cent d/d and down 5.84 per cent y/y.

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