The power system of Ukraine experienced a surplus of electricity on March 11. At the request of NPC Ukrenergo to the neighbouring transmission system operator, the surplus was transferred to Poland in the total amount of 1,488 MWh (from 10:30 to 14:00). O March 12, repeated hostile shelling damaged overhead lines in Chernihiv region, cutting…
The MIA Instant Payments System, developed by the National Bank of Moldova (BNM), was launched in Chisinau on March 12, being a first ever event on the financial market of Moldova. The system is available in the financial institutions of the country and allows consumers and companies transferring money in less than 15 seconds, without…
Poland’s government has announced that it will end the 0% VAT rate on food introduced two years ago to help soften the blow of soaring inflation. The Finance Ministry argues that the recent slowing of price rises renders the measure no longer necessary. However, the opposition Law and Justice (PiS) party, which introduced the VAT…
Bulgaria is interested in increasing gas supplies from Azerbaijan to the EU, a source at the Bulgarian Ministry of Energy reports. “Azerbaijan is a strategic economic partner of Bulgaria and an important source for diversification of natural gas supplies to our country. With the commercial operation of the Greece-Bulgaria Interconnector (IGB) as of October 1,…
The National Bank of Ukraine (NBU) sold $156.8 million on the interbank foreign exchange market over the past week. These are the results of currency interventions published on the central bank’s website. From March 4 to March 8, the National Bank sold $156.8 million and purchased $23.11 million on the interbank foreign exchange market. Since…
The National Bank is making gradual, cautious progress in the discussion on the use of immobilized Russian assets, Andrii Pyshnyi, the head of the National Bank, has said on his Facebook page. “We summarized the previous month at a meeting with representatives of the largest 30 banks. First of all, there were significant shifts in…
A contract has been signed to build what will be Poland’s longest tunnel, stretching almost 3.8 km (2.4 miles) through part of the Western Beskids mountains in the south of the country. Once completed, the tunnel and related rail modernisation will cut the train journey time between Krakow, Poland’s second-largest city, and Nowy Sacz, a…