Xi Jinping says Serbia Could Play Important Role In New ‘Silk Road’

Xi Jinping, President of China (Global Panorama, CC BY-SA)

Ukrainian budget with the deficit of EUR156.3m in May 2016

Latvian companies' average turnover up 13 per cent in 2015

Romanian Transgaz plans higher 2015 dividend

Serbia

Radio Free Europe reports on the visit of the Chinese President Xi Jinping in Serbia. Jinping said on June 19th that China was prepared for increased cooperation with Belgrade and Serbia which “could play a significant role in Beijing’s ambitious plan for a new <<Silk Road>> to increase trade with Europe, Asia, and Africa.”

As Radio Free Europe informs, Mr. Jinping’s visit included touring the Zelezara Smederevo steel plant which was recently bought by a Chinese steel giant.

China has invested more than USD1bn in Serbia since 2009, mainly in energy and infrastructure sector.

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Ukraine

Interfax reports Ukraine’s national budget deficit narrowed in May 2016 to UAH4.26bn (approx. EUR156m). According to the data from the State Treasury Service in April it was UAH11.6bn (EUR421.8m), and in March it was UAH8.1bn (EUR2.9bn).

The deficit of the general fund also narrowed from UAH10.68bn in April 2016 and UAH7.59bn in March 2016 to UAH 3.85bn in May 2016.

In the period January-May 2016 the deficit of national budget totaled UAH26.45bn (EUR959m): the deficit of the general fund was UAH25.76bn.

 “Thanks to surplus of local budgets, being UAH 22.67bn in January through May 2015, including UAH 25.61bn for the general fund, the consolidated budget has a deficit of only UAH 3.78bn in the first five months of 2016, including UAH150m for the general fund.” 

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Latvia

The average turnover of Latvian companies reached EUR21,700 in 2015. It’s up 13 per cent compared with the result of 2014.

The average Latvian companies turnover from 2011 to 2013 was a bit more than EUR18,000. In 2014 it grew by 5.5 per cent to over EUR19,000.

Although the turnover grows, the average amount of losses per company was EUR38. In 2011 it was EUR4 per company. And in the period 2012-2014 the average profit/loss amount was zero.

The data from Lursoft shows that Latvian companies, on the average, were not profitable last year. The number of employees grew by 11.9 per cent in the period 2011-2014 (amounting to 712,400 workers in 2014). The data for 2015 is not yet available.

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Romania

“Romanian gas transmission company Transgaz plans to pay a gross dividend of RON27.61 (EUR6.1) per share for 2015. The company informed about it in its press release. Transgaz paid a gross dividend of RON21.80 per share in 2014.

“According to the new Fiscal Code, which entered into force on January 1st, the standard tax rate applicable to dividends for 2015 is 5 per cent, down from 16 per cent earlier. Dividend for the financial year 2015 will be paid out between July 13, 2016 and July 13, 2019,” SEENews Corporate Wire reports.

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What’s up in indexes

BUX (od Budapest) was up 0.60 per cent d/d – increasing from 26226.84 index points Tuesday, June 28th to 26383.32 index points Wednesday, June 29th. From year-end it’s up 10.30 per cent.

BET (of Bucharest Stock Exchange) increased from 6443.76 index points Tuesday, June 28th to 6503.71 index points Wednesday, June 29th. So it’s up 0.93 per cent d/d. From year-end it dropped by 7.15 per cent.

PX (of Prague) increased from 806.43 index points Tuesday, June 28th to 808.21 index points Wednesday, June 29th. So it’s up 0.22 per cent d/d. From year-end it dropped by 15.49 per cent.

WIG20 (of Warsaw) increased from 1751.81 index points Tuesday, June 28th to 1756.20 index points Wednesday, June 29th. So it’s up 0.25 per cent d/d. From year-end it dropped by 5.54 per cent.

OMXT (of Tallinn) increased from 969.26 index points Tuesday, June 28th to 978.65 index points Wednesday, June 29th. So it’s up 0.97 per cent d/d and up 8.86 per cent from year-end.

OMXR (of Riga) was up 0.28 per cent d/d – increasing from 619.17 index points Tuesday, June 28th to 620.91 index points Wednesday, June 29th. From year-end it’s up 4.47 per cent.

OMXV (of Vilnius) was up 0.98 per cent d/d – increasing from 503.35 index points Tuesday, June 28th to 508.30 index points Wednesday, June 29th. From year-end it’s up 4.59 per cent.

SAX (of Bratislava) closed at 312.25 index points Wednesday, June 29th. It zero per cent change compared with Tuesday, June 28th. From year-end it’s up 6.81 per cent.

SOFIX (of Sofia) lost 0.54 per cent – falling from 453.94 index points Tuesday, June 28th to 451.47 index points Wednesday, June 29th. From year-end it lost 2.05 per cent.

UX (of Kyiv) dropped by 0.05 per cent – decreasing from 658.66 index points Friday, June 24th to 658.35 index points Wednesday, June 29th. From year-end it dropped by 4.01 per cent.

CROBEX (of Zagreb Stock Exchange) was up by 0.23 per cent – increasing from 1663.05 to Tuesday, June 28th to 1666.82 index points Wednesday, June 29th. From year-end it dropped by 1.35 per cent.

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