SLOVENIA
Telekom Slovenije group net profit drops 22% in Jan-Sep
Ljubljana, 25 October - Group net profit at Telekom Slovenije dropped by 22% to EUR 23.5m in the first three quarters of the year, Slovenia's telecoms incumbent reported on Thursday. Sales revenue and gross operating profit (EBITDA) edged down 1% year-on-year to EUR 538.1m and EUR 153m, respectively.
Source: STA
Adria to get EUR 10m capital injection by end of year
The German financial fund 4K Invest will recapitalise Slovenian carrier Adria Airways by the end of the year, Adria's director Holger Kowarsch said on Wednesday. ""We will raise equity capital by at least EUR 10m,"" he told the public broadcaster TV Slovenija as he announced that the carrier would be restructured.
Source: STA
Slovenia among Lonely Planet's top destinations for 2019
Lonely Planet, one of the most influential portals for travellers, has released a list of top ten best-value destinations to visit next year, picking Slovenia as one of them.
Source: STA
INTERNATIONAL MARKETS
Dow erases gains for the year, tumbles more than 600 points as stocks extend October swoon; European markets close lower; Deutsche Bank shares slip 5%
Stocks plummeted on Wednesday as a sharp drop in tech shares and worries about corporate earnings added fuel to this month's steep pullback. The Dow Jones Industrial Average dropped 606 points and erased all of its gains for 2018. The S&P 500 dropped 3.1 percent and also turned negative for the year. The Nasdaq Composite fell 4.4 percent — entering correction territory — as Facebook, Amazon, Netflix and Alphabet all traded lower. Netflix tumbled 9.4 percent as investors second-guessed valuations for the once high-flying video streamer. Facebook and Alphabet both fell more than 5 percent, while Apple dropped 3.4 percent. AT&T, meanwhile, dropped more than 8.1 percent after releasing its quarterly results. Worries about a slowing economy under pressure from rising interest rates grew after the Commerce Department said new home sales fell to a two-year low. The data also hit homebuilder stocks. European stocks closed lower Wednesday afternoon, dragged down in late trade by another slump in U.S. markets. The pan-European Stoxx 600 finished down 0.22 percent, recording an even split of sector gainers and losers. Deutsche Bank shares fell 4.76 percent on Wednesday. It came after the German flagship lender said it was on track to swing to profit this year, despite reporting a steep decline in third-quarter profit. Europe's banking index — the worst-performing sector in Europe so far this year — edged 1.35 percent lower on the news.
Source: CNBC
SERBIA>
Spanish companies plan to expand their operations in Serbia – Great potential for cooperation in ecology and construction
The first Spain-Serbia business forum officially opened, in the presence of numerous representatives of international financial institutions, local ministries and public institutions, as well as representatives of 21 Spanish companies and numerous Serbian entrepreneurs. Serbia can expect more Spanish investments in the future, Xiana Mendez, the State Secretary for Trade and the President of ICEX, stated at the opening. She pointed out that the Spanish companies already present in Serbia were planning to expand their business and she also reminded that the trade between the two countries had been constantly growing in the previous years. Mendez said that Spain and Serbia could cooperate in the field of environmental protection, but also in construction, very successfully. Among the products from Serbia which the Spanish market is the most interested in, she listed rubber products, furniture, paper, cardboard, grains and plastic products.
Source: Ekapija
Fiat, Hesteel, and Gazprom-owned companies top Serbian list
The 15 biggest domestic exporters have sold goods worth EUR 3.3 billion to foreign markets in the period between January until September 2018. Topping this list is Fiat (FCA) Serbia (majority-owned by Fiat Chrysler Automobiles), that sold cars worth EUR 599.6 million, followed by HBIS Group (owned by China's Hesteel), who operate the Smederevo-based steel plant - and have exported products worth EUR 581.4 million in this period. HBIS also increased exports of steel by 36.5 percent (EUR 155.4 million) compared to January-September 2017. In the third place is Gazprom-owned oil company NIS, with exports reaching EUR 346.6 million in these six months.
Source: b92
Pensions can be hiked by 7% in 2019, Fiscal Council says
Even through IMF agreed that pensions should not be hiked again in 2019, Fiscal Council believes that room for this measure exists, local press reported. According to the report, in its latest document on fiscal developments in 2018 and advises for 2019, Fiscal Council sys that pensions can be increased by 6.5% to 7%, which is possible due to expected GDP growth in 2019.
Source: Tanjug, Ilirika
