S&P improves outlook for NLB
Ratings firm Standard and Poor's (S&P) improved on Friday NLB bank's outlook from developing to positive, while affirming Slovenia's biggest bank's long-term issuer credit rating at BB+. According to a release from NLB, the rating is based on the bank's strong performance and its partial privatisation.
Petrol business plan targeting EUR 96.7m net profit in 2019
Energy trader Petrol plans to generate EUR 5.6bn in sales revenue at group level in 2019 and a net profit of EUR 96.7m. The business plan, approved by the supervisory board and released on Friday, envisages EUR 101m in fixed asset investments. It is announcing a focus on innovative business models and 18 new service stations for a total of 515.
Dow rises in wobbly session as Wall Street digests latest US-China trade developments; European markets close lower after ECB ends QE purchases
Stocks seesawed on Thursday while investors digested new developments in the ongoing U.S.-China trade war and Wall Street's volatile week approached its end. The Dow Jones Industrial Average closed 70.11 points higher at 24,597.38 after alternating between gains and losses throughout the day. The S&P 500 fell marginally to 2,650.54, while the Nasdaq Composite dipped 0.4 percent to 7,070.33 as Amazon and Alphabet gave up their initial gains. On Wednesday, Reuters reported Chinese state-owned companies had bought at least 500,000 tons of U.S. soybeans. It was the first major U.S. soybean purchases in more than six months, and the clearest sign to date that China plans to step up efforts to support its slowing economy. President Donald Trump also said he would intervene in the Justice Department's case against Huawei CFO Meng Wanzhou if it would help smooth over U.S.-China trade relations. General Electric shares jumped more than 7 percent after J.P. Morgan analyst Stephen Tusa, a longtime bear on the company, upgraded GE. The analyst cited a more ""balanced risk reward at current levels."" European stocks were slightly lower on average Thursday as the European Central Bank formally brought its 2.6 trillion euro ($3 tn) QE program to a close. The pan-European Stoxx 600 was little changed from the previous session, provisionally slipping 0.16. The ECB is to end to its crisis-era bond-buying program this December after nearly four years. European lenders have generally been critical of the central bank's QE program, arguing it has a negative impact on their net interest income. Unicredit was among those leading the gains, up 1.4 percent on the prospect of the ECB ending its contentious stimulus program. Meanwhile, Germany's Metro slumped to the bottom of the index after the company reported persistently challenging business conditions in Russia. Shares of the wholesale tumbled more than 7 percent on the news.
Zijin to pay USD 350 million upon handover of RTB Bor
The Chinese company Zijin will pay USD 350 million in cash immediately upon the official handover of RTB Bor, to take place on December 18, says Blagoje Spaskovski, the director general of RTB Bor. The sum will be paid by Zijin immediately, with an additional USD 900 million to be invested. Everything will be paid to the account of RTB Bor which has already been opened in the Bank of China and used only for investments – Spaskovski said.
Serbian exports to EU 85.6% higher than before 2012
In the period from 2012 to 2017, Serbia's exports to the EU were 85.6% higher than they were before the country became an EU accession candidate, Chamber of Commerce and Industry of Serbia (PKS) President Marko Cadez said Tuesday. At the unveiling of a strategic document titled 2019-2021 Programme of Economic Reforms and Presentation of a Preliminary List of Structural Reforms, Cadez said Serbia's trade deficit with European countries had dropped by 40.3 pct.
Finance Minister: Serbia’s economy main goal is to maintain fiscal stability
In the 2019 – 20121 period Serbia’s priority is to preserve the fiscal stability, Sinisa Mali, country’s Finance Minister has said on Tuesday, presenting the Programme of economic reforms, a strategic document in the dialogue with the European Commission (EC) and the European Union member states, N1 reported. Other goals set by the Programme include efforts to boost economic growth and reduce the public debt which is, according to Mali, at some 55 percent of the GDP.
Bosnia's Serb Republic signs motorway concession deal with Shandong
Bosnia's Serb Republic said it has signed a concession contract with China Shandong International Economic and Technical Cooperation Group for the construction and operation of the first section of the future Banja Luka - Prijedor - Novi Grad motorway. The concession on the first section, 42 km in length from Banja Luka to Prijedor, will be granted for a period of 33 years, including the three-year period of construction works, which was agreed with Shandong in October, the Serb Republic government said in a statement on Wednesday, following the signing ceremony.