Bill facilitating NLB privatization passed
Ljubljana, 19 July - The National Assembly passed in a cross-partisan vote on Thursday a bill that shields NLB bank from claims in Croatia, a move that paves the way for the privatisation of the country's largest bank.
Turnover from the sale of goods in 2017 the highest after 2008
In 2017, enterprises in Slovenia sold on the domestic market about EUR 26.7 billion of goods, which is 10.8% more than in 2016. This is the highest value of turnover from the sale of goods in recent years, but it was still lower than in 2008, when it amounted to EUR 28.3 billion.
Dow falls more than 100 points after banks slide; European markets close lower amid earnings
Stocks fell on Thursday amid criticism of the Federal Reserve by President Donald Trump. A decline in bank shares also pushed the broader market down. The Dow Jones Industrial Average dropped 134 points, with Travelers Cos. and American Express lagging. The S&P 500 slipped 0.4 percent, with financials dropping more than 1 percent. The Nasdaq Composite also pulled back 0.4 percent.
IBM shares rose more than 3 percent after the Dow component reported earnings and revenue that surpassed expectations. American Express, another Dow member, posted a profit that was just above estimates, while sales came in slightly below estimates. Shares of American Express fell 2.7 percent.
Shares of eBay fell more than 10 percent after the company posted revenue and guidance that disappointed investors. Earnings, however, topped estimates.
European shares closed lower on Thursday, as investors digested corporate results and cashed in recent gains in the stock market. The pan-European Stoxx 600 was provisionally off by 1.03 percent at the session close in Europe with all but three sectors in negative territory. Basic resources were down 1.56 percent, becoming the worst-performer. Metals in particular were in the firing line as worries about the Chinese economy persist.
Looking across the European benchmark, Iliad jumped 7.44 percent Thursday following the news that the French telecoms operator had reached 1 million subscribers in Italy.
Unilever shares have risen steadily during the day despite posting disappointing results. The consumer goods firm is blaming a price war, especially in the North American market. The Anglo-Dutch firm finished exactly 3 percent higher on its London listing.
In other corporate news, Ryanair is to face its biggest-ever strike by cabin crew next week, with about 600 flights expected to be canceled as a result. Shares were slightly off in mid-morning deals.
Western Balkans’ economy accelerates 3.5% y/y in Q2 – EC says
The economic upswing continued in the Western Balkans with annual gross domestic product (GDP) growth accelerating to 3.5% in the first quarter of 2018, up from an average growth rate of 2.7% in the preceding quarter, the European Commission said. The growth pick-up was driven by Serbia (4.6% from 2.4% in Q1), the largest economy in the region. Investment and private consumption continued to support growth in the region,the Commission said on Wednesday in its EU Candidate Countries' & Potential Candidates' Economic Quarterly report for the second quarter.
NBS: IMF Executive Board approves new cooperation programme for Serbia
At its meeting held on 18 July, the Executive Board of the International Monetary Fund (IMF) approved a new cooperation programme supported by the Policy Coordination Instrument (PCI) for Serbia. The PCI-supported programme will build on the precautionary Stand-By Arrangement successfully completed in February 2018. It aims at maintaining macroeconomic and financial stability and advancing the structural and institutional reform agenda to foster rapid and inclusive growth, job creation and improved living standards. The programme will last 30 months and Serbia’s progress in its implementation will be monitored through five semi-annual reviews.
Serbia remains world leader in new jobs per capita for the second year in a row
For the second year in a row, the Republic of Serbia is the world leader in the number of new jobs created per capita through foreign direct investment (FDI) projects in 2017, according to the latest IBM Global Locations Trend 2018 report, as announced by the Development Agency of Serbia (DAS). Also, based on the number of new jobs created through FDI in 2017, Serbia ranked 6th among European countries, and 15th among all countries in the world, it is added.
EU implements duties on import of steel products – Serbia not on the list
Temporary safeguard measures with regard to imports of steel products, which entail automatic implementation of 25% customs duty on the import of 23 product categories, came into effect in the EU today, and Serbia is not on the list of developing countries they apply to, Tanjug reports. The duties pertain to the import of steel products above the average import volumes in the past three years.