World Economic Forum in Davos starts tomorrow

Davos, Switzerland, January 21st, 2018 (World Economic Forum, CC BY-NC-SA)

Visegrád Group to talk establishing a regional development bank

Romania: Viorica Dancila forms the new cabinet

Switzerland

The 48th World Economic Forum Annual Meeting in Davos, Switzerland, will be focused on Creating a Shared Future in a Fractured World. But Davos has had severe snowfalls – all mountain passes but one are closed, so getting there will not be easy. Engadin Airport in Samedan, St. Moritz (the closest airport) has issued a warning that from January 22th until January 27th, the airspace around Davos will be restricted within a radius of 25 NM due to security reasons.

The economic agenda aims to support multistakeholders’ efforts to deliver sustainable and inclusive economic development in the face of lower growth rates, declining productivity and skills gaps. The industry and business agenda will try to shape the evolution of industry ecosystems and business models, particularly in the context of scientific, technological and policy transformations.

The Geopolitical Agenda of WEF 2018 has a goal to convene public- and private-sector leaders and defense, intelligence and public-security experts to prepare for and respond to a rapidly changing geopolitical landscape.

Poland will be represented by the Governor of the central bank NBP, Prof. Adam Glapiński and the Prime Minister Mateusz Morawiecki.

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Visegrád Group

Prime Ministers of Hungary, Poland, Slovakia and the Czech Republic will meet on January 26th. At a summit in Budapest, the leaders of the countries of the Visegrád Group (V4) will discuss time frames for establishing a regional development bank.

Hungary’s Prime Minister Viktor Orbán has been recently discussing the issue with Poland’s Prime Minister Mateusz Morawiecki. Mr. Orbán claims the funds from China should be used to finance important projects in Central Europe. According to him “China’s financial conditions are better than those offered by the European Union”.

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Romania

After Romania’s President, Klaus Iohannis appointed last week Viorica Dancila from the Social Democratic Party (PSD) as the new country’s Prime Minister, the talks to form the new cabinet started. On Monday, January 22nd the party’s national executive committee will meet to decide on the shape of the government.

According to the Romania Insider, the new cabinet will be similar to the cabinet of Mihau Tudose – with 3 Deputy Prime Ministers and 26 ministries. It is possible that deputy prime minister Marcel Ciolacu, transport minister Felix Stroe and EU funds minister Marius Nica will be replaced.

Meantime. tens of thousands of Romanians marched through heavy snow in Bucharest on Saturday, January 20th, in protest against proposed laws that will make it harder to prosecute crime and high-level corruption.

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and more

What’s up in indexes

BET (of Bucharest) decreased from 8,362.90 index points Thursday, January 18th to 8,361.95 index points Friday, January 19th. It’s down 0.07 per cent d/d and up 15.76 per cent y/y.

BUX (of Budapest) increased from 39,664.00 index points Thursday, January 18th to 40,021.89 index points Friday, January 19th. It’s up 0.90 per cent d/d and up 22.36 per cent y/y.

CROBEX (of Zagreb) decreased from 1,873.87 index points Thursday, January 18th to 1,873.74 index points Friday, January 19th. It’s down 0.01 per cent d/d and down 8.40 per cent y/y.

OMXR (of Riga) increased from 1,033.02 index points Thursday, January 18th to 1,040.25 index points Friday, January 19th. It’s up 0.70 per cent d/d and up 39.82 per cent y/y.

OMXT (of Tallinn) decreased from 1,279.49 index points Thursday, January 18th to 1,278.76 index points Friday, January 19th. It’s down 0.06 per cent d/d and up 17.09 per cent y/y.

OMXV (of Vilnius) decreased from 664.90 index points Thursday, January 18th to 664.72 index points Friday, January 19th.It’s down 0.03 per cent d/d and up 17.75 per cent y/y.

PX (of Prague) increased from 1,119.05 index points Thursday, January 18th to 1,123.62 index points Friday, January 19th. It’s up 0.41 per cent d/d and up 20.99 per cent y/y.

SAX (of Bratislava) decreased from 342.21 index points Thursday, January 18th to 338.66 index points Friday, January 19th. It’s down 1.04 per cent d/d and up 7.09 per cent y/y.

SOFIX (of Sofia) increased from 711.20 index points Thursday, January 18th to 711.69 index points Friday, January 19th. It’s up 0.07 per cent d/d and up 17.62 per cent y/y.

UX (of Kyiv) increased from 1,449.60 index points Thursday, January 18th to 1,427.65 index points Friday, January 19th. It’s down 1.51 per cent d/d and up 65.84 per cent y/y.

WIG20 (of Warsaw) increased from 2,591.22 index points Thursday, January 18th to 2,601.82 index points Friday, January 19th. It’s up 0.41 per cent d/d and up 29.09 per cent y/y.

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