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.
S&P 500 closes near its low for the year in volatile session on Wall Street; European markets close lower amid global growth fears; Indivior shares jump 18%
The S&P 500 closed just above its 2018 low Tuesday as stocks struggled to keep a rebound alive throughout the session. The Dow Jones Industrial Average added 82.66 points to close at 23,675.64 after erasing its 300-point rally earlier in the session amid gains in Boeing and Goldman Sachs, which posted its first positive day in 10 on Tuesday. A comeback in technology stocks pushed the Nasdaq Composite up 0.4 percent. Market participants pointed to growing fears of a government shutdown, a slide in oil prices and worries that the Federal Reserve is going too far with its rate-hiking plans. Stock of energy companies fell across the board as oil prices sank more than 7 percent to a 15-month low on Tuesday. Exxon Mobil fell 2.7 percent, Chevron lost 2.4 percent and ConocoPhillips dropped 1.9 percent as the U.S. and Russia continue to pump at record levels ahead of planned output cuts by OPEC and its allies. European stocks closed lower Tuesday, amid escalating concerns about a slowing global economy. The pan-European Stoxx 600 closed provisionally down 0.82 percent, with most sectors and major bourses in negative territory. Looking at individual stocks, Britain's Indivior surged toward the top of the European benchmark on Tuesday. The drugmaker announced it would sell a cheaper version of its flagship opioid addiction treatment drug, while maintaining its full-year profit and revenue forecast. Shares of the London-listed stock surged nearly 18 percent higher on the news.
MTLC: Metalac buys property of Rudnik for EUR 1.3 million
Metalac Gornji Milanovac has become the owner of 18,000 sqm of production, storage and office space of the former clothes manufacturer Modna Konfekcija Rudnik, as well as 6 hectares of land, after the offer of EUR 1.3 million was accepted at the auction held on December 13. Following the adaptation of the facilities, they will house trade companies Metalac Market and Metalac Trade, with the joint storage of goods. The space for new production programs in the future has also been secured.
Chinese Zijin takes over RTB Bor – USD 350 million for capital increase paid
The Chinese company Zijin Mining yesterday officially took over RTB Bor. The Chinese company yesterday paid USD 350 million for capital increase and is now the owner of 63% of RTB Bor. The company will be called Zijin Bor Copper d.o.o. Bor and the name of Serbia will soon be added to it, according to Energy Minister Aleksandar Antic. The Chinese strategic partner plans for it to operate at the full capacity of 80,000 tons in three years, and to produce between 120,000 and 150,000 tons after six years.
Siemens planning to double the number of employees in Serbia in the next five years
Siemens Beograd has met its goals for the business year 2018, and its participation in the realization of capital projects in the Republic of Serbia has positioned the company as a reliable partner to the domestic economy. As Udo Eichlinger, CEO of Siemens Beograd, told the press, the company expects to double the number of employees in Serbia thanks to the additional increase in the production.