Daily Report 08.05.2019
Datum objave: 08.05.2019
Three loan agreements on projects worth USD 142 million signed with World Bank
Serbian Finance Minister Sinisa Mali met with Cyril Muller, the Vice President for the World Bank's Europe and Central Asia region, in Belgrade today (May 7), on which occasion three loan agreements on projects worth a total of USD 142 million were signed. Minister Mali signed agreements with Stephen Ndegwa, the World Bank Country Manager for Serbia, on the projects of upgrading the electronic government, modernizing the tax administration and improving commerce and transport in the Western Balkans by a applying multi-phase program approach.
Demand for cash loans rises, each Serbian citizen owes EUR 1,000 in average
Serbian citizens are currently repaying banking debts worth around EUR 7 billion, amounting to around EUR 1,000 per citizen, Politika newspapers wrote, citing the banking sources. The problem lies in the fact that retail cash loans currently amount to EUR 3.5 billion, equal to the mortgage debt. As the Belgrade office of the World Bank explains, cash loans are more risky, as they are not used for investments, but for spending.
EUR 930 million transferred from Serbia to offshore companies last year
Companies that operate in Serbia transferred last year a total of EUR 930 million from Serbia to offshore companies in various countries with most of the money ending up in Hong Kong (EUR 764 million), Singapore (EUR 67.3 million) and the British Virgin Islands (EUR 22 million). According to the National Bank of Serbia, millions of euros were simultaneously transferred to Panama (EUR 10 million), Liechtenstein and the Marshall Islands (EUR 9 million each), and the Dominican Republic, Lebanon, Belize and Seychelles (EUR 3 million each).
Dow drops 470 points on growing trade-war threat, biggest decline since early January, Europe markets close lower as US-China trade tensions escalate
Stocks fell sharply on Tuesday after a top U.S. trade official indicated that higher tariffs on Chinese goods are coming later this week, disappointing traders who hoped President Donald Trump’s weekend tweet threat was just a negotiation tactic. The Dow Jones Industrial Average fell 473.39 points, or 1.79%, to 25,965.09 after plunging as much as 648.77 points at its low of the day, while the S&P 500 dropped 1.65% to 2,884.05. It was the Dow’s biggest drop since January 3. The Nasdaq Composite dropped 1.96% to 7,963.76. All 30 of Dow components fell and all 11 S&P sectors traded lower in the broad sell-off.
European stocks closed sharply lower on Tuesday as investors monitored trade developments between the U.S and China. The pan-European STOXX Europe 600 was 1.5% lower at the closing bell, with most sectors and major bourses seeing heavy losses.
Shares of BMW fell by around 4% after the German carmaker reported a 78% drop in first-quarter profits, hit by legal provisions and expenses.
Meanwhile, the European Commission released its latest economic forecast. The Commission still expects growth in the whole EU to hit 1.4% this year and 1.6% next year. However, it cut growth forecasts for Germany for the second time this year, as trade tensions and a Chinese slowdown weigh on the traditional economic powerhouse of the region.
Daily Report 20.09.2019
20.09.2019 | S&P 500 closes flat, hovering near record high; European markets close higher amid Fed easing; Bank of England holds rates; Serbian GDP up 4.4% in July; EIB ready to fund projects in Serbia's new investment cycle; FINT: Serbia's renewable energy sources potential totals 50,000 GWh
Daily Report 19.09.2019
19.09.2019 | Stocks close flat as Fed fails to clearly signal more rate cuts in 2019; European markets close slightly higher ahead of Fed rate decision; Serbian businessman possible mystery buyer of Kras shares – paper; German SMEs coming to Serbia; Botsan-Kharchenko: Good news about TurkStream
Daily Report 18.09.2019
18.09.2019 | Stocks rise slightly ahead of the Fed’s decision on interest rates; European stocks close slightly lower as oil plummets; Fed meeting in focus; NIS stocks rise on BELEX following dividend payout; China's Huawei eyes development of data centre in Serbia; Countercyclical buffer rate for the Republic of Serbia kept unchanged
Daily Report 17.09.2019
17.09.2019 | Dow snaps 8-day winning streak on fears spiking oil will slow the global economy; European stocks close lower amid geopolitical tensions; oil shares spike 3%; KMBN: Privatization of Komercijana attracted three banks and one fund; 120 mln euros of budget funds for Morava Corridor; As early as of December, the average salary will amount to 500 euros"
Daily Report 16.09.2019
16.09.2019 | Dow notches 8-day winning streak, nears record on growing optimism around US-China trade; European stocks close higher after aggressive ECB stimulus; banks up 2%; Declining industrial output in eurozone affecting Serbia; Gov't sets 2020 minimum monthly wage at 30,022 dinars; EBRD to credit small and medium companies in Serbia with EUR 160 million
Daily Report 13.09.2019
13.09.2019 | Dow posts 7-day winning streak, inches closer to record after tariff delay and ECB rate cut; European stocks close higher as ECB launches new stimulus plan; NBS: Key policy rate kept on hold; SORS: Annual inflation in august at 1.3%; Agreement worth EUR 100 million signed with EIB on construction of Nis-Merdare highway
Daily Report 12.09.2019
12.09.2019 | Dow jumps more than 200 points, closes above 27,000 for the first time since July; European stocks close higher ahead of central bank meetings; NBS: FX reserves in August at EUR 13bn; Serbia, Czech Republic sign agreements on cooperation; Talks underway about Czech company coming to Serbia
Daily Report 11.09.2019
11.09.2019 | Stocks close little changed as tech shares and Ford weigh on the market; European stocks erase earlier losses to close slightly higher; KMBN: Bids for sale of shares of Komercijalna Banka opened – Second selection phase in November; Minimum wage in Serbia to be RSD 30,022 from 2020; Serbia attracts 1.9 bln € worth of FDI in first half of 2019
Daily Report 10.09.2019
10.09.2019 | Dow posts 4-day winning streak amid trade optimism; European stocks close mainly lower as investors eye Brexit battle and stimulus hopes; Agreement on construction of Nis-Pristina highway to be signed on Thursday – Construction of section to Plocnik to begin in 2020; China's Zijin Mining Co to build new plant in Majdanpek; NIS to payout cash dividend on 16th September
Daily Report 09.09.2019
09.09.2019 | Stocks close little changed after disappointing jobs report, but rise for a second straight week; Europe closes higher as investors monitor Brexit uncertainty; KMBN: Serbia to buy Komercijalna banka shares owned by EBRD, IFC - four non-binding bids had been received; Moody’s Upgrades Serbia’s Rating Outlook; Mali, Petrovic discuss draft 2020 budget