Fintel Energija expanding business to Russia
Fintel Energija a.d., one of the crucial investors in renewable energy sources in Serbia, announced the foundation of its new company in Russia called Fintel Russian Ventures OOO.
The company will deal in designing and management of two renewable energy sources located in Saratov and Ulyanovsk Oblasts inVolga Federal District. The first wind park that will be built in the Novoulyanovsk industrial zone will have six wind turbines with 4.2 MW of power each, and total power amounting to 25,2 MW. EUR 32 million will be invested in the first project, and the financing will be done according to international standards. At the end of July, the company officially started the process of the company's first initial public offering (IPO) at the Belgrade Stock Exchange. This was the first financial operation of its kind in the BSE after 78 years and the company is going to issue 6,500,000 regular shares at the nominal value of RSD 500 per share .
Zijin to nearly double Serbia's RTB Bor gold production in 6 yrs
China's Zijin Mining Group has said it aims to nearly double the production of gold of Serbian copper miner and smelter RTB Bor to 1.45 tonnes in six years. It is expected that after reaching the designated production capacity, approximately 120,000 tonnes of copper, 1.45 tonnes of gold and 10.6 tonnes of silver can be produced from the mines annually, Zijin said in a filing with the Hong Kong Stock Exchange on Sunday. The annual copper cathode production of RTB Bor's smelter plant can be increased to 150,000 tonnes in six years, Zijin said.
AERO: Belgrade Airport brakes record high monthly volume of passengers in August
Belgrade Airport (AERO) reported 698,271 passengers in August this year, which is up 7% y/y and it represents all time high on a monthly basis. The company’s report also says that 3.8m of passengers were serviced in seven months of 2018, up also 7% y/y, while cargo turnover was increased by 18% y/y.
Source: Seebiz, AERO, Ilirika
Slovenia's Luka Koper increases 2018 profit guidance
Slovenian port operator Luka Koper (LJE:LKPG) said on Monday it plans to end 2018 with a consolidated net profit of 55.8 million euro ($64.8 million), up from its earlier target of 49.1 million euro, on the back of strong first-half results. The company expects its net sales to reach 228.9 million euro this year, with strong EBITDA of 95.4 million euro, it said in a filing to the Ljubljana Stock Exchange. Maritime throughput is projected at 23.2 million tonnes, while container throughput is seen at 984,005 TEUs. On Friday, Luka Koper reported a 27% year-on-year jump in its consolidated first-half net profit to 34.8 million euro.
NYSE closed due to Labor Day, Europe ends on a muted note amid trade jitters
NYSE was closed yesterday due to Labor Day holiday, while European stocks ended the first trading session of a brand-new month on a relatively mixed note, amid heightened concerns of an escalating trade war between the world's two largest economies. The pan-European STOXX 600 provisionally closed up 0.07 percent, with sectors pointing in opposite directions by the end of trade.
Europe's automakers were the worst performers, finishing down 1 percent as trade tensions continued to bubble away. Last week, the European Union said it would respond in kind if President Donald Trump reneged on his pledge not to impose car tariffs. Faurecia, Porsche and Volkswagen all ended down over 1.5 percent.