Page 11 - bne_newspaper_August_31_2018

The Regions This Week
August 31, 2018 www.intellinews.com I Page 11
Central Europe
Czechia had its best year for cross-border mergers since 2008 in 2017, amid the ongoing economic boom in CEE. According to consultancy TPA, which has covered mergers in Czechia since 2008, there were 45 cross-border mergers in 2017 – up by 15% y/y.
The third block of Hungary's sole nuclear power plant came close to being shut down as the temperature of the Danube reached extreme levels. The Paks power plant accounts for half of Hungary's electricity production and a third of its consumption.
Ikea opened its first store in Latvia with an in- vestment reported at around €50mn. The Swedish furniture retailer has been expanding eastwards, also targeting Southeast European countries.
Estonia’s only spirits producer Estonian Spirit OU will halve its output and lay off employees at the Rakvere distillery, reported LETA/BNS. The producer of vodka and other spirits says it can’t source enough organically producer grain at af- fordable prices to continue production at the cur- rent level.
The Polish budget posted a deficit of PLN900mn (€210mn) in January-July, the Ministry of Finance said. The deficit occurred because of high costs of servicing treasury debt, which were booked in July in a one-off operation.
Slovak schools are struggling to find new teach- ers during this time of solid economic growth. Schools have published around 3,000 job offers
this year, but there are not enough candidates, Nikola Richterova of the career website Profesia. sk said.
Latvian farmers suffered losses of €359mn due to the severe drought this summer, according to a report from the agriculture ministry. Latvia, along with other north European countries, ex- perienced a heat wave and drought this summer, widely attributed to climate change.
Lithuania will appeal a European Court of Hu- man Rights ruling that the country hosted a secret CIA detention site. Vilnius has until August 31 to appeal the May 2018 ruling that it hosted
a secret CIA prison between 2005 and 2006. The Baltic state was ordered to pay €130,000 in dam- ages to Saudi Arabia-born Palestinian Abu Zubay- dah for his unlawful imprisonment.
Czechia is reportedly considering changing its investment incentives law to promote projects with higher added value, as well as a range of start-ups. If the amendment passes, it would be the first major change in the law originating in 2000.
One in five Polish companies now employ a Ukrainian. With Polish unemployment at a 28- year low of 5.9%, companies in Poland have been turning to their neighbour to find the workers they need to fill empty work benches: 21% of Polish employers say they have hired Ukrainians, accord- ing to a study by recruitment company Personnel Service, the Employers of Poland organisation and the State Employment Service of Ukraine.
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