Štore Steel sees net profit surge to 8.8m last year
Štore Steel, one of the largest steel mills in the country, generated EUR 121.7m in net sales revenues last year, or 29% more than in 2016 and 25.3% above the plan. The company's net profit meanwhile surged from EUR 1.9m to EUR 8.8m.
Irish fund looking to acquire Slovenian savings bank
Kylin Prime Group, a Chinese-backed fund registered in Ireland, is looking to acquire a majority stake in Hranilnica Lon, a small savings bank that is in the process of transformation into a bank. According to business newspaper Finance, the goal of the investors is to obtain a banking licence for the EU.
Stocks rise as Wall Street cheers jobs report, shrugs off trade fears; European stocks close higher
Stocks rose on Friday on the back of stronger-than-expected employment data. Investors also shrugged off concerns over an escalating trade war between the U.S. and China. The Dow Jones Industrial Average jumped 99.74 points to 24,456.48, with Apple and Microsoft outperforming. The S&P 500 closed 0.8 percent higher, while Nasdaq composite climbed 1.3 percent.
Boeing rose 0.4 percent, erasing earlier losses. Caterpillar and General Motors, meanwhile, closed off their lows of the day. These companies are sensitive to trade news because of their overseas revenue exposure.
European equities closed slightly in the green on Friday afternoon as investors monitored trade developments coming out of the U.S. and China. The pan-European Stoxx 600 closed 0.2 percent higher. While all major bourses were positive by a small margin, business sectors pointed in different directions.
Deutsche Bank shares finished trade 2.5 percent higher following a media report that J.P. Morgan and the Commercial Bank of China were assessing the possibility of buying the German lender. J.P. Morgan denied the report, but the shares continued to be boosted by the news.
Thyssenkrupp shares rose during afternoon deals to close 2.4 percent higher after Chief Executive Heinrich Hiesinger offered his resignation just a week after signing a joint venture with Tata Steel.
AERO: Belgrade Airport posted RSD 1.1bn in 5M 2018 net profit
Sasa Vlaisavljevic, Belgrade Airport’s (AERO), CEO, said that in the first five months of the current year, the total and the operating incomes are higher by 8% each, whereas the net profit is around RSD 1.1 billion and is higher by 1% than the net profit realized in the same period last year. This year, we expect the most successful season in our history, which is supported by the results in the first five months, during which more than 1.9 million passengers were served, 7% more than in the same period last year, whereas the total goods and mail traffic increased by 33%, Vlaisavljevci also said.
Tender for RTB Bor to open in mid-July
The tender for RTB Bor will open in the next dozen days, Serbian President Aleksandar Vucic announced. Let us remind that the owner of the Turkish company Cengiz, Mehmet Cengiz, talked to the management of RTB Bor this Saturday, June 30, 2018, about taking part in the tender for the strategic partner of RTB Bor.
PPF says will not take part in VTB Serbia deal, OTP declines comment
OTP, which is contemplating acquisition opportunities in Southeast Europe, declined to comment for SeeNews on its potential participation in a deal for the sale of the Serbian unit of Russian bank VTB, while Czech-based investment group PPF, which has been investing heavily in the region lately, said it will not participate.