Daily News - 10.07.2018
Published: 10. 07. 2018


Insurers collected EUR 2bn in premiums last year, profit lower

Insurance companies operating in Slovenia posted EUR 2.03bn in gross written premiums last year, or 4.5% more than in 2016, cracking the EUR 2bn threshold for the first time. Combined net profit was down by 10% to EUR 125m due to higher claims.
Source: STA

Exports and imports in May 2018 higher than in May 2017

Exports in May 2018 amounted to EUR 2.6 billion and were 10.1% higher than in May 2017, while imports amounted to EUR 2.7 billion and were 10.4% higher than in May 2017. The value of exports in May 2018 was the second largest in 2018 (following only the value in March), and the value of imports was the largest recorded in recent years. Exports in May 2018 were 12.3% higher and imports 15.6% higher than the average value of monthly exports and imports in 2017. The export/import ratio in May 2018 was 99.5% and the external trade deficit was EUR 13.7 million. The deficit in trade in goods was influenced mostly by increased imports from EU non-member countries.
Source: Statistical Office of Republic of Slovenia

The value of industrial production in May 2018 higher at the monthly and annual level

Industrial activity in May 2018 increased by 0.7% compared to April 2018 and by 6.0% compared to May 2017. At the monthly level industrial activity in manufacturing increased (by 0.9%), while in mining and quarrying and in electricity, gas and steam supply it decreased (by 1.5% and by 1.8%, respectively). In May 2018 the value of industrial production was 22.3% higher than the average of 2015. As regards technological complexity in manufacturing, the largest long-term increase was recorded in medium-low-technology manufacturing (by 30.1%).
Source: Statistical Office of Republic of Slovenia

Geneplanet secures EUR 10m for expansion

Slovenian biotech company Geneplanet has secured a EUR 10m equity round from JF Investments, a Swiss investment fund. The funds will be used to finance the company's international expansion, the company said on Monday.
Source: STA

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.
Source: STA


Dollar strengthens as trade war fears fade, risk appetite returns

The Chinese yuan rebounded and the dollar strengthened broadly on Monday as investors bought riskier assets, encouraged by signs that trade tensions have yet to hurt economic momentum.
As the second quarter corporate earnings season begins, investors appear to be ignoring the deepening conflict between the United States and China over trade.
Instead the focus is on decent economic data including favorable U.S. jobs figures and a healthy rise in German exports which have pushed the dollar and the euro higher.
Source: CNBC


Eiffel Fund to finance four energy efficiency projects by Resalta

Resalta has announced that it has successfully completed its first portfolio transaction with the Eiffel Energy Transition Fund, managed by Eiffel Investment Group.
The Eiffel Energy Transition Fund will provide bridge funding for energy efficiency projects that Resalta is implementing for its long-term client Gorenje. Four projects will be financed from this transaction: the second Gorenje combined heat and power project, a compressed air project and two cooling projects, all in Velenje, Slovenia, the home appliance maker’s headquarters. The four projects will generate 2.2 GWh of annual energy savings for the client, and reduce CO2 emissions by 1,100 tons each year
This marks Resalta’s first commercial paper issued in Slovenia. In this regard, this is a novelty as Resalta has not raised an ordinary debt and loan but rather a standardized financial instrument in a dematerialized form, registered with the KDD clearing house in Slovenia. The partner and mediator was Ilirika from Slovenia, the press release adds.
Source: STA

Ryanair planning expansion in Serbia

Ryanair's Chief Commercial Officer, David O'Brien, said last year that the company believed that the Serbian market has great potential. Ryanair launched operations to Serbia in 2016 by introducing flights to Nis Constantine the Great Airport, from which it now maintains services to five destinations.
Source: Ekapija

Back to news