SLOVENIA
Slovenian SBITOP up 0.19% on Monday
SBITOP index was up 0.19% on Monday, with Petrol company as the most traded name. Petrol delivered EUR 741ths in turnover. Gorenje and Telekom Slovenije were top gainers, since they jumped 1.64% and 0.72%, respectively.
NLB bank's net profit tripled to EUR 189m last year
NLB, Slovenia's biggest bank, tripled its net profit to EUR 189.1m last year, shows the annual report circulated by the bank on Monday. According to the NLB management, the results show that the bank is "well prepared for the expected privatisation". The operating result before provisions without non-recurring events has increased by 11% compared to the one achieved in 2016, which shows a continuous trend of high quality operations in all segments. Higher non-interest income from regular business operations and lower costs have more than compensated lower interest income due to persistently low interest rates in the euro zone. The positive macro environment and successful collection from NPLs have also contributed significantly to net income. Including results from positive one-off effects the return on equity (ROE after tax) increased to 14.4 percent.
Average pay up 3.6% y/y in February
The average gross pay in Slovenia dropped by 1.3% to EUR 1,638 in February over January, but was up by 3.6% compared to February 2017, the Statistics Office said on Monday.
Car industry supplier GKN Driveline further improving results
GKN Driveline, a British-owned car industry supplier, significantly scaled up its production last year, improving sales by around EUR 7m to almost EUR 84m. Profit also increased from the EUR 7.5m in 2016, but the Zreče-based company would not unveil the figure just yet.
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INTERNATIONAL MARKETS
China Q1 GDP Growth Remains Robust
The Chinese economy advanced 6.8% yoy in Q1 2018, the same pace as in the prior two quarters. Figure was in line with consensus, mainly supported by solid consumption.
EU likely to ban unfair food chain practices in a year
The European Commission wants an EU-wide agreement to ban unfair practices in the food chain by the end of the year, outgoing Agriculture Minister Dejan Židan told the STA on Monday, as he attended an EU ministerial in Luxembourg. He hopes measures will be adopted before next year's elections to the European Parliament.
SERBIA
Chinese companies looking for partners from Serbia for reconstruction of Belgrade-Budapest railway – Bid submission deadline May 4
The modernization and reconstruction of the Belgrade-Budapest railway, on the section from Belgrade to Stara Pazova, started in late November 2017. The job worth USD 350.1 million was put in charge of China Railways International and China Construction Company, which are now inviting interested companies to submit bids for execution of works under tracks, works on the railway superstructure and the procurement of materials.
Source: Ekapija
Serbs spend three times as much money on food as their European peers
In Serbia, of the total amount of money spent on personal consumption, 34.5% is spent on food and non-alcoholic beverages, while in the EU, this percentage stands at only 12.2%. EU citizens spend most money (a quarter of their monthly earnings) on housing, gas, electricity and water, while their Serbian counterparts spend 17.1% to cover those expenses. At least this was the case last year, when according to the latest data compiled by the State Statistics Office, each household in our country spent 62.275 dinars a month on average.
Source: Serbiamonitor
Dinar to remain stable whole year, Serbian bankers says
The value of the Serbian currency will not change and will stay at around 119 dinars for 1 euro all this year – the banks in Serbia say. They also add that there is a possibility that the euro will appreciate to a maximum of 120 dinars by December, but not more than that. The banks underline that there are small chances that the Serbian currency will continue to appreciate for the second consecutive year, and add that it is encouraging that the dinar will remain at the same level and will not lose its value in 2018.
Source: Serbiamonitor
