TEŠ and Alstom officials now formally under investigation
More than six years after first house searches related to the controversial EUR 1bn-plus generator project at the Šoštanj coal-fired power plant, 14 suspects are now reportedly under formal investigation after the Celje District Court rejected their appeals against its decision a year ago to open an investigation.
Stocks rise, lifting the S&P 500 to less than 1% from record; Europe ends on a positive note ahead of US-China trade talks; miners rally
Stocks neared a new record as investors renewed their bets that trade wars and other geopolitical worries wouldn't derail this bull market, which is set to become the longest rally ever this week. The S&P 500 advanced 0.2 percent to 2,857.05 and is now just under 0.6 percent from its record reached in January. The Dow Jones Industrial Average climbed 89.37 points to close at 25,758.6, while Nasdaq Composite gained just under 0.1 percent to close at 7,821.01 From the corporate side, PepsiCo agreed to buy SodaStream for $3.2 billion, or $144 per share. The agreed price per share represents a 10.9 percent premium from SodaStream's closing price of $129.85 on Friday. The deal is expected to close by January. SodaStream shares rose about 9.4 percent. Facebook's stock slipped 0.8 percent after Reuters reported the U.S. government is trying to force the company to break its encryption on the Messages app. European stocks finished Monday's session higher, as investors awaited the outcome of trade talks between the world's two largest economies, due to take place later this week. The pan-European STOXX 600 was closed up 0.57 percent provisionally, with the majority of sectors ending in positive territory. Europe's basic resources was one of the best performing sectors Monday, rising 0.85 percent amid renewed optimism of a potential breakthrough in U.S.-Sino trade negotiations later this week. The only sector to come under slight pressure was utilities, which closed just below the flatline overall. Looking at individual stocks, Vopak leaped to the top of the European benchmark, following the announcement of a 0.5 percent sulfur bunker deal with Maersk that meets international targets aimed at capping marine sulfur. Vopak shares climbed 4.5 percent, while Maersk jumped almost 3 percent.
ENHL: Energoprojekt reports EUR 20.7m worth job in Serbia
Energoprojekt (ENHL) reported EUR 20.7m worth contact in Serbia but it seems that this is internal job among daughter units in the holding. As it was reported, daughter unit Energoprojekt Visokogradnja will perform construction works at Park 11 business-residential complex, while main investor is a company Energoprojekt Park.
Source: Belex, Ilirika
Negotiations about raising minimum wage to take place in September
Negotiations about raising the minimum wage should start in September, Blic writes, saying that the talks usually started in mid-August in the past few years, but that this time, due to vacations, they will start a month later. It is already known that unions will ask for the minimum wage to be raised by RSD 5,000, that employers are offering an increase by RSD 1,600, and that the state will agree to a raise of RSD 2,500. The minimum wage currently amounts to RSD 24,882 and is paid to 350,000 workers in Serbia. Since 2010, the state has raised the minimum wage six times. On January 1, 2018, it was raised by 10%.
FAS remains top exporter
Fiat Chrysler Serbia remains top exporter among 15 biggest export companies in Serbia. These exporters placed EUR 2.6bn worth products abroad in the first seven months of 2018. FAS was the first one, with EUR 505.9m, while HBIS (former Smederevo Steel) was the second, with EUR 467m of export, up 42.9% y/y.