Daily news - 20.08.2019
Published: 20. 08. 2019

SLOVENIA

EU to demand NLB sell its life insurance business

Unofficial information indicates the European Commission expects NLB, Slovenia's largest bank, to sell half of its life insurance business NLB Vita, which it co-owns with KBC Insurance.
Source: STA

INTERNATIONAL MARKETS

Dow rallies more than 200 points as Wall Street continues rebound from August sell-off; European stocks close higher as policy stimulus hopes grow; Greene King up 51%

Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recession. Equities also got a boost after the U.S. agreed to extend a temporary reprieve to Chinese telecom giant Huawei.
The Dow Jones Industrial Average closed 249.78 points higher, or 1%, at 26,135.79. The S&P 500 gained 1.2% to close at 2,923.65 as the energy and tech sectors outperformed. The Nasdaq Composite advanced 1.4% to end the day at 8,002.81.
Apple advanced 1.9%. The move up comes after CEO Tim Cook spoke with Trump on Sunday. The U.S. president said Cook made a “good case” that it would be hard for Apple to pay tariffs, when Samsung does not face the same level of duties given its manufacturing in South Korea.
European stocks rose on Monday as hopes emerged for stimulus from central banks and fiscal measures from major economies such as China and Germany. The pan-European Stoxx 600 closed provisionally up more than 1%, with basic resources surging over 2%. All sectors and most major bourses were in positive territory.
German Finance Minister Olaf Scholz said on Sunday that Germany has the fiscal strength to mitigate any future economic crisis with “full force” and suggested that Berlin could free up around 50 billion euros ($55 billion) of extra spending.
Source: CNBC

SERBIA

New motorways could attract investors to southwestern Serbia

The positive effects of capital infrastructure projects are multifold and new motorways could attract investors to southwestern Serbia, a less developed part of the country, says Bojan Stanic from the Chamber of Commerce and Industry of Serbia (PKS). "If you look at the map of current investments in Serbia, they are concentrated around Corridor 10, and if you follow that logic, in case Corridor 10 and Corridor 11 become fully functional by the end of the year, investors will base their decisions mostly on availability of modern functional infrastructure and will, therefore, decide to invest in southwestern Serbia," Stanic, assistant director of the PKS Sector for Strategic Analyses and Services, has told Tanjug.
Source: Tanjug

Almost 85% of new factories opened along Corridor 10

Investing in infrastructure is the basic precondition for opening factories and job creation and nearly 85 pct of foreign investments in Serbia over the past five years have been launched along new motorways and the Corridor 10 route, says Chamber of Commerce and Industry of Serbia (PKS) President Marko Cadez. Major investments located along motorway routes are worth dozens of billions of euros and employ a hundred thousand people - that is why infrastructure is important, Cadez said.
Izvor: Tanjug 

MTLC: Metalac to report consolidated 6M numbers on Thursday, 22th August

Metalac, kitchenware manufacturer, announced that it will report 6M consolidated numbers on Thursday, 22th August. According to recently reported partial numbers for daughter units, we can expect similar numbers as a year ago, implying sales in a range of RSD 4.5-4.6bn with net profit at approximately RSD 300-350m.
Source: Belex, Iliirka