EBRD sees steady growth in Western Balkans – Montenegro and Serbia fastest growing economies in the region in 2018
The EBRD expects continued steady economic growth in the six Western Balkan countries in 2019, despite a cooling international economic environment which may see the pace of growth slowing in some countries in the region. Growth in Serbia quickened to 4.3% in 2018 after just 2% growth in 2017, as a result of further recovery of domestic demand and strong exports. Growth is expected to slow down to 3.5% in 2019 and then inch back up to 3.8% in 2020, with private consumption, investment and exports remaining the main growth drivers, with offsetting effects coming from higher imports.
Construction of Preljina-Pozega highway section to begin on May 17
The works on the construction of the Preljina-Pozega section on Corridor 11 will begin on May 17, Serbian Minister of Construction, Transport and Infrastructure Zorana Mihajlovic announced. At a press conference regarding the agreements and memorandums signed at the second Belt and Road forum, Mihajlovic said that, among other things, the financial agreement on the construction of this section, worth EUR 450 million, was signed in Beijing.
IMF to recommend increase in price of electricity by up to 5%?
The IMF Mission will recommend an increase in the price of electricity by up to 5% from this summer, as the World Bank's analysis for 2018 has shown that the price of a kilowatt in Serbia is among the lowest ones in Europe, Blic writes. The daily writes that there are indications that, due to the social conditions, the Serbian side will insist on the increase being smaller, that is, around 3%. The exact percentage will be known after negotiations with the IMF Mission, which arrives to Serbia on Friday, May 10, led by the new head, Jan Kees Martijn, the daily writes.
Stocks close little changed in volatile trading day as investors unsure of trade deal outcome, European stocks close higher as White House says China wants to make trade deal
Stocks failed to rebound from a deep sell-off this week as investors remain on edge about the standoff between the U.S and China over a trade agreement. The Dow Jones Industrial Average finished the day 2.24 points higher at 25,967.33, while the S&P 500 was down 0.16% at 2,879.42 and the Nasdaq Composite fell 0.26% at 7,943.32. The Dow was down 75 points at its intraday low and it swung 153 points higher at its high of the day. The volatile session followed big losses in the previous two days with the Dow falling nearly 540 points in those two sessions.
A disappointing forecast from Intel late in the trading day helped drag down the market. Intel fell 2.46%. The chipmaker said it expects low single-digit revenue growth over the next three years.
Ride-hailing company Lyft's stock slid 10.84% Wednesday after the company reported a heavy loss for its first quarterly earnings report as a public company. Some Wall Street analysts still believe the results were "a good first step' to profitability."
European stocks closed higher Wednesday after President Donald Trump said China would visit the U.S. to make a trade deal. The pan-European STOXX 600 index was 0.22% higher at the closing bell, paring losses seen earlier in the session. All major bourses were in positive territory.
Siemens surged toward the top of the index after the German company posted better-than-expected operating profit on Wednesday. Shares gained around 4.5% after the company's results showed profit rose 7% to 2.4 billion euros ($2.69 billion) in the three months to March 31, beating estimates of 2.24 billion euros in an Infront data poll.