Report: Adria Airways gets new owner
STBE, a company which is said to own the airline Adria Airways brand, has been absorbed by Adria Airways, Slovenia's flag carrier in German ownership. The move increases the airline's share capital and changes its ownership, the business newspaper Finance reported on Tuesday, citing publicly available documents.
Intereuropa plans strong growth in revenue, profit by 2022
The logistics group Intereuropa has adopted a five-year strategic plan which envisages a growth of revenue from EUR 168.5m expected this year to EUR 210.3m in 2022. Operating profit is expected to increase from EUR 7.1m to EUR 11.6m, while the number of employees is planed to rise from 1,380 to 1,563.
Micro companies remain job creators
Out of more than 142,000 companies active in Slovenia in 2017, almost 95% were micro companies, and they employed more than a third of the total of 627,000 all employees in companies. Most of the revenue, over two-thirds, was generated by large companies, Statistics Office data shows.
Dow rises more than 150 points as tech shares jump ahead of Alphabet earnings; European stocks close lower amid earnings; Wirecard shares jump 13%
Stocks rose on Monday, led by tech shares, as investors awaited key corporate earnings from companies like Alphabet. The Dow Jones Industrial Average closed 175 points higher as Microsoft and Apple outperformed. The S&P 500 gained 0.7 percent as the tech sector gained 1.6 percent. The Nasdaq Composite climbed 1.15 percent, outperforming relative to the other major indexes. Alphabet reported mixed fourth-quarter results Monday, sending shares down 3 percent in extended trading. Alphabet drops after revealing higher-than-expected costs in key area European stocks closed slightly lower Monday, as market participants monitored another flurry of corporate earnings results. The pan-European Stoxx 600 closed provisionally down 0.13 percent, with most sectors in negative territory. European banks were under pressure, on the back of earnings news. Julius Baer fell over 4 percent after reporting results that missed expectations. Spanish lenders Caixabank and Banco Sabadell both dropped more than 4 percent after multiple brokers cut share price targets on the back of disappointing earnings. Looking at individual stocks, Germany’s Wirecard surged to the top of the European benchmark during morning trade. It comes after the payments company said a law firm it appointed made no conclusive findings of criminal wrongdoing by any of its employees. Shares of Wirecard jumped more than 13 percent on the news.
Foreign investors put EUR 2.2 billion in Serbia – Biggest investments made in metal industry
In the first 11 months of 2018, foreign investors put EUR 2.2 billion in Serbia. That was the net inflow of direct foreign investments, which was 1.4% lower than in the same period in 2017. Three quarters of direct foreign investments in the first three quarters of 2018 came from EU states. Within manufacturing, the biggest investments were made in the metal, food and car industries. The data of the Ministry of Finance show that the net inflow of other investments amounted to EUR 605.7 million in the same period, whereas an outflow of EUR 28.5 million was recorded in portfolio investments.
KMBN: Privatization adviser for Komercijalna to be selected until 10th February
Privatization adviser for Komercijalna Banka, should be selected until 10th February, Sinisa Mali, Finance Minister said yesterday. The Ministry declared public invitation for interested financial advisers in October last year. As Mali explained, after agreement with selected company, the state will decide about future moves in case of Komercijalna Banka.
Source: Ilirika, Ekapija
Turkish Stream will pass through Serbia
Serbia is allowed to join the Turkish Stream gas pipeline project – the Secretariat of the Energy Community, based in Vienna, has confirmed, while, at the same time, setting certain conditions for Serbia’s participation in the project. In its assessment, the Secretariat, on one hand, concludes that a new pipeline entering the country from the south will improve the safety of supply by diversifying supply routes. On the other hand, it also underlined that it will fortify and maintain Gazprom and Srbijagas’ dominance.
EU steel import safeguards officially take effect
The steel import safeguard measures adopted by the EU on January 31 concern Serbian steel producers in three product categories: hot-rolled sheets and strips, cold-rolled sheets and tinplate products. The measures - which relate to 26 categories of steel products from non-EU countries including Serbia - have taken effect following publication in the EU's official journal. Sources in Brussels say they do not expect steel import quotas to affect Serbia's current steel exports to the EU market.