Daily news - 15.10.2019
Published: 15. 10. 2019


Mixed reactions to jailing of Catalan leaders, FM says Slovenia must not interfere

Reacting to the prison sentences handed in Spain to Catalan leaders, Foreign Minister Miro Cerar said Spain was a sovereign country and that Slovenia "must not interfere". Ex Foreign Minister Dimitrij Rupel on the other hand spoke of an "enormous scandal" and analyst Luka Lisjak Gabrijelčič of "distinctively political" judicial arguments. (STA)

PM Šarec makes case for EU enlargement to W Balkans

Prime Minister Marjan Šarec made a case for the EU enlargement to the Western Balkans ahead of a two-day European Council meeting on Thursday and Friday. In a letter to the Council president and EU heads of states and government, he said the enlargement should have no alternative. (STA)


Big banks kick off earnings season.

JPMorgan, Goldman Sachs, Wells Fargo, and Citigroup all report their latest quarterly earnings, which are expected to be soft. Investors will look for clues about profit prospects in 2020, as some worry that market expectations may be too optimistic. (Quartz)

The IMF adds fuel to recession fears

The organization is expected to cut its global growth forecast for 2019 at its annual meeting, lowering the already-modest estimate of 3.2%. The IMF’s recently appointed chief, Kristina Georgieva, warned in her first big speech a week ago that the global economy is in a “synchronized slowdown.” (Quartz)

The US hit Turkey with sanctions and tariffs

In response to Turkey’s deadly incursion into northeastern Syria, Trump imposed sanctions on Turkish officials and increased tariffs on Turkish steel of up to 50%. He also put discussions over a $100 billion trade deal on hold. (Quartz)

WeWork could strike a deal with JPMorgan

Bloomberg reported that the embattled office-sharing giant could choose a high-risk $5 billion debt package led by the investment bank over a bailout by Japan’s SoftBank, in order to avoid diluting the stakes of top private shareholders. (Quartz)


Cibuk 1 wind farm opens

The largest wind farm in the Western Balkans, Cibuk 1, has officially opened in Mramorak near Kovin. The investment is worth EUR 300 million, and the wind farm will supply 113,000 households with electricity and prevent the emission of more than 370,000 tons of carbon-dioxide a year. The Cibuk 1 wind farm has 57 wind turbines and an installed power of 158 MW. This project contributes to the stability and the supply of electricity and has enabled Serbia to produce 27% of its energy needs from RES by 2020, thereby also helping reduce the use of coal in the production of electricity. (Ekapija)

Tax rates in Serbia are lower than the region’s average

The Fiscal Council considers that progressive income tax cuts will be implemented in 2020 to partially offset the effects of the (too) large increase in the minimum wage on employers who recruit predominantly low-wage workers. The growth of economic activity in Serbia in the next period could be significantly influenced by the reduction of the tax burden on wages. In this way, the Fiscal Council of Serbia would reduce labour costs and make the national economy more competitive compared to the countries of the region. At the same time, a reduction in employment costs would stimulate a further decline in the unemployment rate. (Serbianmonitor)

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