Beogradske Elektrane and EPS to build heating pipeline from Obrenovac to New Belgrade worth EUR 170 million with Chinese partners
The PUE Beogradske Elektrane, EPS and their Chinese partners are to carry out a big joint project of the construction of a heating pipeline from Obrenovac to New Belgrade, with the planned investments amounting to around EUR 170 million. The agreement with Power China was signed last year, and the completion of the financial arrangement of the Ministry of Finance with the Chinese Exim Bank is now expected. Local companies will realize 49% of the project, and the construction should start in 2019, so that heating with the energy from TENT A would be possible in two to three years.
Belgrade Stock Exchange commits with UN Sustainable Stock Exchanges Initiative
Belgrade Stock Exchange (BELEX) has become a Partner Exchange of the United Nations Sustainable Stock Exchanges (SSE) initiative. As said in the press release, BELEX thereby signifies its commitment to promoting transparent and sustainable capital markets. Launched in 2009, the SSE was built on the demand from exchanges for a place to come together with investors, companies and policymakers to share good practices and challenges in a multi-stakeholder environment.
Canada's Diamond Fields amends documentation for RTB Bor
The Canadian company Diamond Fields today amended the documentation for the tendering for the strategic partner for RTB Bor, Beta learns. The deadline for the submission of bids for RTB Bor expired on August 20, and the tendering commission announced that three companies had submitted bids, Zijin from China, U Gold from Russia and Diamond Fields from Canada.
Croatia's GDP growth picks up to 2.9% y/y in Q2
Croatia's annual gross domestic product (GDP) growth picked up to a real 2.9% in the second quarter from 2.5% in the preceding quarter, a flash estimate of the country's statistical office showed on Wednesday. On a seasonally adjusted basis, Croatia's economy expanded by 2.8% year-on-year and by 1.1% quarter-on-quarter, following a 2.6% yearly growth rate and a 0.8% quarter-on-quarter growth in the first quarter of 2018, the Croatian Bureau of Statistics said in a statement.
Nasdaq and S&P 500 reach all-time highs as Amazon, Alphabet and Apple rallyEurope ends mostly higher as Canada re-joins US-Mexico trade talks
A rally in tech stocks led the Nasdaq Composite and S&P 500 to record highs, with Amazon, Alphabet and Apple leading the gains. Investor sentiment was also boosted by the resumption of U.S.-Canada trade talks.The Nasdaq Composite gained 1 percent. The S&P 500 rose 0.6 percent, closing above 2,900 for the first time. The S&P 500 tech sector rose 1 percent. The Dow Jones Industrial Average climbed 61 points as Apple rose 1.5 percent to an all-time high.
Amazon shares rose 3.4 percent to a record after Morgan Stanley raised their price target on the stock, predicting a $1.2 trillion valuation for the company. Analyst Brian Nowak said Amazon's advertising, subscription and cloud businesses "will drive higher profitability and continued upward estimate revisions."
The U.S. economy grew at a stronger pace in the second quarter than previously thought. The Commerce Department raised its second-quarter economy growth estimate to 4.2 percent from an initial forecast of 4.1 percent.
The majority of European markets finished Wednesday slightly higher, as investors continued to monitor corporate earnings and global trade developments. The pan-European Stoxx 600 closed up 0.29 percent, with most sectors turning positive by the close.
Looking at individual stocks, software firm Micro Focus surged after the company announced it would launch a buy-back program. Shares of the London-listed stock climbed almost 3 percent.
FItalian luxury sports car-maker Ferrari jumped close to the top of the pan-European benchmark after HSBC upgraded the stock to "buy" from "hold." It was the STOXX 600's second best performer, jumping over 4 percent.