EBRD STRATEGY FOR SLOVAKIA
EBRD - The EBRD Board of Directors has approved a new country strategy for the Slovak Republic which sets out the Bank's priorities in the country for the period 2017-2022. These are:
1. Enhancing competitiveness through cutting-edge financial instruments and structures
The EBRD will provide niche, cutting-edge financial instruments (such as covered bonds and infrastructure bonds) and selective private risk capital capital) and deploy specialised expertise to facilitate capital markets development. The EBRD will also support, in conjunction with partner international financial institutions, selective private-sector led infrastructure projects employing innovative structures such as PPPs.
Overall, the Bank aims to provide an expanded and diversified range of innovative financial products, including for select infrastructure through innovative, private-led solutions.
2. Supporting Green Economy Transition through dedicated financing facilities
Subject to the necessary government support, the EBRD will help design specialised facilities to prepare, finance and implement green economy projects via financial intermediaries using, for example, the Green Energy Financing Framework and other green innovation products.
Here, the Bank aims to achieve improved energy and resource efficiency and increased commercial financing for green economy investments, where applicable with government and/or EU Structural and Investment Funds support.
The Bank will stay alert to opportunities to implement these core priorities in underserved regions or in a manner that boosts economic inclusion.
Graeme Hutchison, EBRD Regional Head for Hungary and the Slovak Republic, said: "The new country strategy for the Slovak Republic marks an important milestone in our activities in the country and sets out the parameters for our future engagement. The Slovak Republic has come a long way in the transition process and the EBRD remains committed to help tackling remaining challenges. This is expressed in our strategy and the document will serve as a roadmap in this process."
To date, the EBRD has invested €2.3 billion in more than 130 projects in the country. The Bank combines project financing with policy engagement and most recently supported the Slovak Republic in creating the legal foundations for covered bonds with amendments to the relevant law in line with best practice recommendations by the European Banking Authority.
|August, 17, 12:01:00|
|August, 17, 11:55:00|
|August, 17, 11:50:00|
|August, 17, 11:45:00|
|August, 17, 11:40:00|
|August, 17, 11:35:00|
U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.
NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.
GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.
REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.