CEEMarketWatch
CEEMarketWatch Smart Daily
Aug 26, 2011
Poland
PO takes 36% in mid-August poll, PiS scores 20% - CBOS
MPC's Bratkowski says rates at right level, sees no moves through end-Q1
MPC voted down July hike motion as CPI expected to return to target - minutes
BGK sells PLN 623mn of road bonds
Belka says CPI should slow quickly on lower GDP growth, signals neutral bias
PiS to pledge no tax hikes if it wins elections, to attack PO for tax hikes
Czech Republic
S&P raises ratings of Prague, Komercni Banka
Agrarian Chamber says harvest quickens and yield rises
Kalousek says pilot bonds for retail investors to be issued in Q4
S&P raises Czech Export Bank's rating to 'AA-
Hungary
State-owned MAV reportedly considers buying back part of cargo business
Government spends HUF 52bn from general reserves in three months
New Szechenyi Development Plan injects HUF 1bn in economy daily
Wealth tax introduction considered by ruling Fidesz party – MP Pallfy
State debt manager increases bond float at auction despite weak demand
Banks to tighten lending conditions for corporates, restructure municipal debt
Slovakia
VW car production jumps by 45% y/y in H1
Banks reduce GDP growth forecast to 3.1% in 2011
Russia
International reserves increase by USD 3.8bn over Aug 13-19
United Russia heads polls; government approval slides
Ukraine
Grain export duties may be cancelled
WB lends USD 150mn to support exports and real sector
Domestic debt for gas up UAH 7.7bn in January-July
Kazakhstan
South Korean companies to take part in joint projects for USD 8bn
Turkey
Business confidence worsens m/m in August
Capacity utilisation inches up by 0.7pps m/m in August
Finance Minister Simsek commits to stronger fiscal adjustment
Privatisation board launches tender for key highways and bridges
Bulgaria
Insurance premium income rises by 0.5% y/y in H1
Banks reduce lending rates on both household and corporate segments in July
Romania
Budget posts slight deficit in July, gap reaches 2.1% of GDP in Jan-Jul
Exxon to spend USD 3-10bn for oil exploration in Black Sea blocks
UN reportedly to suspend trading with carbon emission certificates
Overdue loans to banks reach 9.1% of loan portfolio as of end-July
Treasury sells less 10-year state bonds as yields rise
Property Fund head intends to block unpaid state-owned shares in the fund
Croatia
SDP’s support drops to four-year low but gap with HDZ expands to 3.6pps
GDP growth improves to 0.8% y/y in Q2 -- PM
Construction industry posts HRK 1.3bn net loss in 2010
Serbia
Serbia may not get candidate status in 2011 due to dual institutions in Kosovo
Government to seek from UNSC to condemn use of force by Pristina
Real net wage growth slows to 0.9% y/y in July
Bosnia-Herzegovina
SDP ready for agreement over BiH Council of Ministers
BiH recognises Libya's National Transitional Council
Tourist arrivals rose by 3.5% y/y in H1 to 318,206
Number of registered unemployed people rises by 2.8% y/y in June to 525,978
CPI inflation edges up to 3.9% y/y in July
Industrial output growth slows to 10.1% y/y in July
Merchandise foreign trade gap rises by 14.5% y/y to KM 3.9bn in Jan-July
Estonia
Finance ministry to revise down 2012 growth forecast
Latvia
Banking system posts LVL 22mn profit in July
Georgia
Breakaway Abkhazia votes for new president
Azerbaijan
Turkey reaffirms September deadline for Shah Deniz II contract
Brazil
S&P raises outlook of Brazil’s local-currency credit rating to positive
Construction sector exhibits a small increase in July
Serasa Experian GDP estimate indicates deceleration of economy in Q2 2011
Unemployment rate falls to 6.0% in July
Consumer confidence falls by 4.9% m/m in August
BNDES expects Brazil will invest BRL 240bn in infrastructure in next 4 years
Mexico
SHCP reports Coahuila’s government because of debt accumulation
CA deficit grows rapidly in Q2, reaches USD 2.6bn
Unemployment rate falls 0.50% m/m (sa) in July
Colombia
DNP: Economic growth to be around 5% in 2011
Covinoc: Overdue loans reach COP 12tn (USD 6.74bn) at end-June
Government to invest COP 3.4tn (USD 1.91bn) in public works
Chile
Government claims low participation in strike, unions satisfied
Consumer confidence improves in July on back of good expectations
Larrain happy with better IMF projections
Egypt
CBE holds rates as CPI pressure offset by economic risks
Gulf Cooperation Council
KUWAIT: Kuwait to tender USD 6.2bn highway projects
UAE: Aabar plans joint bid for Hynix Semiconductor
UAE: Nakheel settles AED 10bn in property liabilities
Iraq
Oil exports hit USD 48bn in Jan-July
Israel
Finance ministry, doctors reach wage agreement
Credit card purchases rise by 12.2% y/y in July
IDF hits Gaza on Thursday morning
Business sector debt declined by 0.7% m/m to NIS 748bn in June
Jordan
Insurance premiums rise 7% y/y to JOD 266mn in Jan-Jul
Economy generates net 66,000 jobs in 2010
Govt endorses constitutional amendments
Lebanon
Trade gap narrows 18% y/y to USD 1.27bn in July
Tunisia
PDP backs boosting FDI, social spending and tax cuts ahead of Oct elections
Foreign investment falls 26.3% y/y to TND 868.4mn in Jan-Jul
Hotel activity falls by 50% y/y in Jan-Aug
Angola
GDP expected to grow by 8% in 2012 - WB
Botswana
New African Properties launches IPO
Ghana
PPI growth accelerates to 14% y/y in July
Parliament approves EUR 70mn line from KfW
Kenya
FinMin Kenyatta says central bank should restore monetary stability
Government bond yields up, auction undersubscribed
182-day T-bill yield up by 5bps to 10.356%
Namibia
Fitch affirms Telecom Namibia’s credit rating
Nigeria
Government to review trade policy
Finance minister plans to cut current spending
South Africa
Cabinet rules out any revision to existing labour laws
IMF revises up 2011 GDP growth estimate to 4%
Coal mining company Exxaro faces another wage dispute
PPI growth accelerates to 8.9% y/y in July, above expectations
Tanzania
CEO Roundtable warns govt against prices controls
Uganda
MTN Uganda reports 15% ytd increase in subscribers at end-June
T-bill yields continue to soar
Zambia
Inflation moderates to 8.3% y/y in August
Power utility Zesco asks mines to reduce power consumption
Zimbabwe
National airline invests USD 350mn in equipment - reports
Written by CEEMarketWatch. The report is based on sources, which we believe to be reliable, but no warranty, either express or implied, is provided in relation to the accuracy or completeness of the information. The views expressed are our best judgement as of the date of issue and are subject to change without notice. Any redistribution of this information is strictly prohibited. Copyright 2011 CEEMarketWatch, all rights reserved.