SLOVENIA
Economy Ministry and BAMC officials meeting Lufthansa after Adria shutdown
Economy Ministry State Secretary Eva Štravs Podlogar, accompanied by the top executives of Slovenia's bad bank, met with representatives of Lufthansa in Frankfurt to analyse the aviation market in the wake of the receivership of the German-owned Slovenian flag carrier Adria Airways, the Economy Ministry said on Tuesday.. (STA)
IMF downgrades Slovenia's GDP growth projection to 2.9%
The International Monetary Fund (IMF) has downgraded its projection of growth of the Slovenian gross domestic product (GDP) for this year from 3.4% to 2.9%, with the correction following the recent downgrade by the government macroeconomic think tank IMAD to 2.8%. (STA)
Japanese forwarder setting up subsidiary in Slovenia
Yusen Logistics, a Japanese supply chain logistics company, opened on Friday its subsidiary in the coastal town of Koper, thus becoming the first Japanese freight forwarder in Slovenia. The launch is an important step for the port operator Luka Koper as well since it promotes the transport route via Koper. (STA)
INTERNATIONAL MARKETS
Mike Pence and crew head to Turkey
A high-level entourage led by the US vice president is planning to meet with Turkish president Recep Tayyip Erdoğan to negotiate a cease-fire between Ankara and Syrian Kurdish forces. Erdoğan has already rejected the idea. (Quartz)
There is still no Brexit deal
EU and UK officials are resuming talks in the hope of reaching a deal that can be agreed by leaders at a key summit on Thursday and Friday. As it stands, Britain leaves the EU without a deal on Oct. 31. (Quartz)
The US earnings season continues
Four major US banks posted results yesterday—JPMorgan beat expectations while Goldman lagged behind. Today is Bank of America’s turn. Later in the day, Netflix posts its results. (Quartz)
China threatened the US with “strong countermeasures”
That was a reaction to the US House passing legislation to support Hong Kong. It’s now headed to the Senate, where it needs to be approved before being signed into law by Trump. (Quartz)
Huawei’s revenue rose in 2019 despite the US ban
The tech giant was blacklisted earlier this year due to its closeness with the Chinese government and fears of spying, but the company said revenue increased by 24% in the first three quarters of this year. (Quartz)
SERBIA
IMF: Serbia's performance robust, record-low unemployment
Serbia's economic performance remains robust and unemployment has fallen to record-low levels, with 3.5 pct and 4 pct growth projected for 2019 and 2020, respectively, an IMF team headed by Jan Kess Martijn concluded at the end of a two-week visit to Serbia. The mission agreed with the authorities on the key parameters of the 2020 budget, targeting an overall fiscal deficit of 0.5 pct of GDP. This level would preserve fiscal discipline and keep public debt on a downward path. The reintroduction of pension indexation in 2020 will ensure a more rules-based system. (Tanjug)
KMBN: Finnace Minister expects four binding bids for Komercijalna Banka
Serbian Finance Minister Sinisa Mali said today that the privatization of Komercijalna Banka went as planned and presented new details from the procedure of the sale of the bank where the state owns 42% of the capital. A detailed analysis of the bank's operations by interested companies is in progress, and I expect all four interested companies to make binding bids – Mali specified. We can't yet disclose the names, but I can says that there are three banks, including a domestic one, and a foreign fund – Mali said recently. (Ekapija)
Serbia attracted 2.3 bln euros of FDI in first seven months of 2019
Serbia attracted 2.3 bln euros worth of FDI in the first seven months of this year, which is 43 pct more compared to the same period last year, Finance Minister Sinisa Mali said Tuesday. Speaking at a press conference, he said the Financial Times had named Serbia the global leader in attracting FDI and that the country had attracted 5.8 bln dollars of FDI last year. (Tanjug)
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