Daily news - 11.02.2020
Published: 11. 02. 2020


New round of SDS-led coalition talks expected

The opposition Democrats (SDS) are expected to conduct a fresh round of coalition talks with three parliamentary parties after the resignation of PM Marjan Šarec. The potential coalition partners, Modern Centre Party (SMC), New Slovenia (NSi) and Pensioners' Party (DeSUS), have not officially confirmed the talks. (STA)

Final vacancies filled on Petrol board

Following the appointment of Nada Drobne Popovič as the CEO of energy group Petrol in January, the company's supervisory board has filled the remaining two vacancies on the management board by appointing Matija Bitenc and Jože Bajuk board members effective on 11 March. (STA)

Slovenia's industry expanded by 3% in 2019

Slovenia's industrial output increased by 3% last year, the sixth consecutive year of growth. The output in December was 1% higher than in the same month a year ago but 1.8% lower than in November. (STA)

Slovenia's leading baby care chains slated for merger

Slovenia's largest private equity fund has announced its intention to acquire and merge the leading chains of baby and child care shops in Slovenia to create a major player with a leading position in Slovenia and a strong presence in Southeast Europe. (STA)


Dow jumps 170 points, Amazon leads S&P 500 and Nasdaq to record highs; European markets close mixed as coronavirus concerns linger

Stocks rose on Monday, rebounding from a decline earlier in the day, led by solid gains in tech shares such as Amazon. The Dow Jones Industrial Average gained 174.31 points, or 0.6%, to close at 29,276.82 after dropping more than 100 points to start off the session. The S&P 500 advanced 0.6% to 3,352.09 while the Nasdaq Composite gained 1% to end the day at 9,628.39. Both the S&P 500 and Nasdaq reached all-time highs.
Amazon rose 2.6% to a record high, breaking above $2,100 per share for the first time. Netflix and Alphabet both closed more than 1% higher while Facebook eked out a gain. Tesla, meanwhile gained more than 3% in another volatile session for the electric car maker.
Apple shares fell as much as 1.9% on Monday amid concerns the outbreak will hurt production of the tech giant’s best-selling product, the iPhone. Foxconn, one of Apple’s biggest suppliers, got approval to resume production at a key manufacturing plant but only 10% of its workforce has returned, Reuters reported.
European markets closed mixed Monday amid ongoing concerns around the coronavirus outbreak in China. The pan-European Stoxx 600 closed provisionally marginally higher, with sectors and major bourses pointing in different directions. Oil and gas stocks fell over 1% to lead losses while construction shares were the top gainers adding 0.6%.
In corporate news, German newspaper Handelsblatt reported on Sunday that German carmaker Daimler planned to cut up to 15,000 jobs as it intensified cost-cutting measures. (CNBC)


KMBN: Komercijalna banka only bank able to fund development projects, CEO says

Komercijalna banka Executive Board President Vladimir Medan says the bank improved all parameters of its operations in 2019, achieving a new record result. "We strengthened the capital base and enabled the bank to keep up with all major projects from the Serbian development plan for the next five years (the Serbia 2025 programme). Komercijalna banka is the only domestic bank whose capacities make it capable of financing, and keeping up with, the development projects to be implemented in Serbia and the region in the coming years," Medan told Vecernje novosti. He said Komercijalna banka was the only bank with a daughter bank in the region and that its overall capital had risen 17 pct from 64 bln to 75.3 bln dinars. (Tanjug)

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