Daily news - 30.05.2019
Published: 30. 05. 2019

SLOVENIA

Tab to invest up to EUR 25m in North Macedonian subsidiary

Battery maker Tab Mežica has confirmed plans for up to EUR 25 million-worth of investments into its North Macedonian subsidiary Tab MAK, located in the town of Probištip. The idea is to expand the production of industrial and starter batteries there, Tab told the STA.
Source: STA

INTERNATIONAL MARKETS

Dow drops more than 200 points as rates slide, stoking fears about the economy; European stocks close lower amid renewed concerns over Italy’s growing deficit; European stocks close lower amid trade war, political worries; Stoxx 600 hits 2½-month low

Stocks fell on Wednesday as bond yields declined again, triggering concerns about the economic outlook. Increasing trade tensions in the China-U.S. trade fight also weighed on markets. The Dow Jones Industrial Average dropped 221.36 points  to 25,126.41 while the S&P 500 slid 0.7% to 2,783.02. The Nasdaq Composite declined by 0.8% 7,547.31. The Dow briefly fell more than 400 points as the 10-year Treasury note yield hit its low of the day. Retailers dropped broadly on tariff concerns Wednesday. Abercrombie & Fitch shares plunged more than 26% after the company warned it same-store sales could be flat if tariffs remain unchanged. Dick’s Sporting Goods also fell 5.9%. The SPDR S&P Retail ETF (XRT) dropped more than 2%. European shares continued to tumble Wednesday amid worries over the U.S.-China trade war and a potential budget standoff between Italy and the EU. The pan-European STOXX 600 was down 1.4% to its lowest point since March 11, basic resources leading the losses with a 2.5% decline as all sectors remained in the red.
Source: CNBC

SERBIA

Potential merger between Fiat Chrysler and Renault not to affect Kragujevac factory – Production of SUV model planned

The operating management of Fiat Chrysler Automobiles Serbia in Kragujevac have been unofficially informed by their colleagues from Turin that the potential merger between FCA and Renault would not essentially change the plans of the factory in Serbia in the period until 2022, Novosti reports. The readiness of assembly lines for the serial production of the new model will be checked, as said, in late 2019, so that the production of the new model could start at full capacity in 2020. The parameters for the production of the new car, checked on several occasions in Kragujevac, show that Fiat plans to produce a SUV vehicle in this factory, most probably based on a Punto or a Tipo.
Source: Ekapija

Businesses more optimistic in May – survey

In the May Barometer survey, Serbian businesses gave better or similar assessments of the majority of business parameters compared to April. The survey, presented at the Chamber of Commerce and Industry of Serbia (PKS) on Tuesday, is a snapshot of the processing industry and the quarterly expectations of businesses. What is particularly encouraging - and also a reason behind a rise of the business climate index - is greater optimism, indicated by more positive expectations for the next three months, PKS President Marko Cadez told reporters.

Russian, Polish and Romanian companies interested in bidding for Petrohemija

The tender for the acquisition of Petrohemija, the petrochemical giant from the town of Pančevo, will have been launched by the end of the year, RTS reported. Investors from Russia, Poland and Romania are interested in acquiring the Pančevo-based company, with the representatives of the Romanian investors visited the company two days ago. The government has been preparing to privatize Petrohemija for some time, but it’s not in a hurry. Potential investors are searching for the best privatization model for Petrohemija. “I expect that all the negotiations and analyses that potential investors can and should do, will result in something tangible this year and that we will be able to launch a public call by the end of this year on the basis of that,” said the State Secretary in the Ministry of Economy, Dragan Stevanović.
Source: Serbianmonitor

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