EUR1bn deal for the Polish Army

The AHS Krab gun-howitzer (Raf24, CC BY-SA)

Tensions in Macedonia, a technical government is being considered

Latvian banks grant new consumer loans of EUR143.5m (Jan-Sept 2016)

Poland

The Polish Radio reports on the biggest defense deal in Poland’s history. It is an eight-year contract for delivering four firing modules, each of which comprises nearly 40 military vehicles, including 24 of the self-propelled howitzers. The first module is expected to be delivered in 2018. The contractor is Huta Stalowa Wola (HSW) and the value of the contract is EUR1bn.

The Prime Minister Beata Szydło informed Poland wants to rely on Polish-manufactured equipment supplied to the Polish Army, adding that „Law and Justice’s program clearly states that our priority is economic development based on rebuilding manufacturing (…) so that the defense industry can become a flywheel of the Polish economy”.

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Macedonia

After-election tensions in Macedonia are growing, the Balkan Insight reports. Both main political blocs claim victory after the early election that took place on December 11th.

Experts claim the possible conflict between the main ruling VMRO DPMNE party of former Prime Minister Nikola Gruevski and the main opposition Social Democratic Union, SDSM, led by Zoran Zaev is already dangerous.

The Balkan Insight quotes political analyst Daut Dauti:  "We have a tie position in both political blocs, numerous combinations for assembling a new government and a serious threat of ethnic conflict among Macedonians.”

The remedy could be forming a technical government that would prepare the country for another election. Constitutional Law Professor Svetomir Skaric explains: "A non-party person that would form the new government is a necessity because with this election outcome none of the parties has the legitimacy to impose itself and [and name a new] Prime Minister.”

Under the constitution, the new parliament should be established by the end of this month at the latest. The deadline for forming a government is February 16th, the Balkan Insight points out.

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Latvia

Latvian banks granted consumer loans worth EUR143.5m in the first three quarters of 2016. It’s up 28 per cent compared with the same period of 2015. The aggregate value of the Latvian banks’ consumer loan portfolio reached EUR522.4m at the end of September 2016.

According to the data from the Association of Latvian Commercial Banks at the end of 2015, the banks had granted EUR487.7m in consumer loans, as compared to EUR479.7m in late 2014.

The Baltic Course reports “since 2013, the value of the Latvian banks’ consumer loan portfolio has been around EUR0.5m with a stable tendency to grow. The amount of new loans has been growing fast amid strong demand from consumers, a more stable financial situation and more favorable offers from the banks.”

In the whole 2015 Latvian banks granted consumer loans worth EUR156.3m (up 38 per cent compared with 2014).

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What’s up in indexes

BUX (of Budapest) increased from 30938.13 index points Tuesday, December 13th to 31374.28 index points Wednesday, December 14th.  So it’s 1.41 per cent d/d and up 31.16 per cent from year-end.

BET (of Bucharest Stock Exchange) was up 0.43 per cent d/d – increasing from 6979.27 index points Tuesday, December 13th to 7009.51 index points Wednesday, December 14th. From year-end it’s up 0.11 per cent.

PX (of Prague) dropped by 0.89 per cent d/d and by 5.57 per cent from year-end. It decreased from 911.09 index points Tuesday, December 13th to 903.02 index points Wednesday, December 14th.

WIG20 (of Warsaw) was up 0.80 per cent d/d and up 4.07 per cent from year-end. It increased from 1919.49 index points Tuesday, December 13th to 1934.87 index points Wednesday, December 14th.

OMXT (of Tallinn) dropped by 0.29 per cent – falling from 1048.34 index points Tuesday, December 13th to 1045.26 index points Wednesday, December 14th. From year-end it’s up 16.27 per cent.

OMXR (of Riga) increased from 732.89 index points Tuesday, December 13th to 733.15 index points Wednesday, December 14th. So it’s up 0.04 per cent d/d and up 23.35 per cent from year-end.

OMXV (of Vilnius) increased from 558.15 index points Tuesday, December 13th to 558.92 index points Wednesday, December 14th. So it’s up 0.14 per cent d/d. From year-end it’s up 15.01 per cent.

SAX (of Bratislava) closed at 313.01 index points Wednesday, December 14th. It’s the same result as Tuesday’s. From year-end it’s up 7.07 per cent.

SOFIX (of Sofia) was up 0.36 per cent – increasing from 580.85 index points Tuesday, December 13th to 582.97 index points Wednesday, December 14th. From year-end it’s up 26.49 per cent.

UX (of Kyiv) dropped by 0.12 per cent – falling from 778.55 index points Tuesday, December 13th to 777.63 index points Wednesday, December 14th. From year-end it’s up 13.38 per cent.

CROBEX (of Zagreb) was up 0.04 per cent – increasing from 1984.90 index points Tuesday, December 13th to 1985.74 index points Wednesday, December 14th. From year-end it’s up 17.53 per cent.

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