SBITOP gained minor 0.07 percent
SBITOP gained 0.07 percent yesterday, reaching 823.2pts. Biggest gainers of the day were KD and Petrol which soared 4.2 percent and 0.85 percent respectively. On the other side, top losers were Intereuropa and Luka Koper with and 0.995 drop respectively.
Cinkarna Celje with strong revenue growth and cost reduction in 2017
Cinkarna Celje continues its path of profitability. In 2017, Cinkarna Celje managed to reduce the costs of goods, materials and services by 6 percent (from EUR 111.61 million in 2016 to EUR 90.74 million last year). Labor costs increased by 8% (from EUR 28.19 million in 2016 to EUR 30.32 million in 2017). Net revenues of the company climbed 11% last year, from EUR 169.76 million to EUR 188.70, largely due to growth in sales on the non-domestic market. The latter grew from EUR 148.32 million in 2016 to EUR 164.24 million last year and thus increased by 11%. All of the above contributed to the fact that Cinkarna Celje had more than tripled its operating profit last year, as this was 338% higher than last year. The operating profit rose to EUR 35.72 million last year from EUR 10.58 million in 2016. While the bottom line was almost tripled, from EUR 9.76 million in 2016 to EUR 28.766 million last year.
The Senate endorsed the proposal to loosen bank rules
On Wednesday, the US Senate voted 67 votes to 31 against the 2010 Dodd-Frank Amendment to the Financial Reform Act, which was adopted to prevent a new major financial similar 2008 one to happening again. Most democrats were against the changes, however 16 went with the Republican side. Supporters of the 2010 act say it has made the financial system safer - forcing large financial institutions to hold more money to use in the event of a financial shock, increasing protections for consumers, and improving stress tests. However, the bill has divided Democrats sharply. Some have supported it, while others - notably Senator Elizabeth Warren, from Massachusetts - have strongly opposed repealing crisis-era banking regulations.
Source: Ilirika, STA, BBC
NBS: Key policy rate down to 3.25 percent
At its meeting yesterday, the NBS Executive Board decided to trim the key policy rate to 3.25%. In making this decision, the Executive Board was primarily guided by the inflation projection and inflation factors in the coming period. In accordance with the NBS's expectations, inflation in February was down to 1.5% year-on-year, primarily due to the high base of the prices of products that underwent one-off hikes early in 2017. Another confirmation of low inflationary pressure is core inflation, which measured 1.3% year-on-year in February.
Serbia to prepare to open another 5 chapters in EU negotiations by the end of March
By the end of March, Serbia will be ready to open another five chapters in the accession talks with the European Union, said head of the negotiating team of Serbia, Tanja Miscevic. At the conference on the opening of Chapter 30, she specified that one of the chapters would be Chapter 17, Economic & Monetary Policy, which will be prepared by the end of the month.
AERO: Six weekly flights from Tehran to Belgrade soon - Also scheduled flights from other Iranian cities
Iran Air expects to expand its operations in Serbia in the coming period after launching services between Tehran and Belgrade last Saturday, EX-YU Aviation News reports. Iran Air has established two weekly flights to Belgrade with its Airbus A320 aircraft last week. This will be followed by a new two-week service between the two capitals operated by Qeshm Air, as well as a two-week operation by Mahan Air, which will begin in April.
Source: Ekapija, EX-YU aviation news