Free Trade Agreement of Serbia and Turkey at next session of Turkish parliament
Minister of Trade, Tourism and Telecommunications of Serbia Rasim Ljajic received confirmation in his yesterday’s talk with Turkish Minister of the Interior Suleyman Soylu that the ratification of the Free Trade Agreement, whereby the range of goods that can be exported to Turkey free of duty will be expanded, would be on the agenda at the first next session of the Turkish parliament. The ministers talked about the further improvement of the two countries’ relations, primarily economic ones, at a meeting in Belgrade.
USD 350 million payment for RTB Bor by the end of 2018
Serbian Minister of Mining and Energy Aleksandar Antic stated that the Chinese company Zijin, which has bought RTB Bor, is obliged to pay at least USD 100 million by the end of the year, but that it is expected to pay USD 350 million. Antic said on TV Prva that he expects the results from the sale of RTB Bor to be apparent soon and that all 5,000 jobs will be kept.
OTP Bank to take over Credit Agricole in Serbia?
In the sea of news about the consolidation of the banking market in Serbia, the latest media speculation pertains to OTP Bank taking Credit Agricole Serbia – unofficial sources from the banking world claim. In the last ten years, the Serbian banking sector has been going through turmoil with the number of banks reduced from 35 to 28. Experts say, however, that even this number is too much for the country like Serbia and that there will be more sales and mergers.
Slovenia's Triglav Skladi acquires ALTA Skupina for 21.7 mln euro
Slovenia's asset management company Triglav Skladi, a Triglav Group member, said on Friday it signed a deal with ALTA Skupina for the acquisition of 100% interest in its peer ALTA Skladi for 21.7 million euro ($25.5 million). The agreement was entered into under suspensive conditions, among which the condition that the approval of the regulators is required, Triglav said in a Ljubljana bourse filing.
Dow rises 86 points to record, posts solid weekly gain, Europe finishes on an upbeat note as trade fears ease, sterling slumps on Brexit news
The Dow Jones Industrial Average and S&P 500 hit record highs on Friday and posted solid weekly gains as concerns about global trade dissipated. The 30-stock Dow rose 86.52 points to 26,743.50 as McDonald's and Boeing outperformed. The S&P 500, meanwhile, closed around the flatline at 2,929.67 after rising as much as 0.4 percent. Nasdaq was down 0.51%.
Investors also braced for an S&P 500 sector reshuffling that will send Google-parent Alphabet, Netflix, Facebook and Twitter to the telecommunication services sector. That sector will also be renamed communication services starting Monday. Disney and CBS will also be added to the revamped space.
McDonald's shares rose 2.8 percent after the company hiked its quarterly dividend by 14.9 percent to $1.16 per share.
Micron shares dropped 2.9 percent after the chipmaker said PC processor shortages are hurting demand for memory chips, a key business for the company.
European stocks posted solid gains by the end of Friday's session, as investors continued to digest the latest political and corporate news. The pan-European Stoxx 600 popped 0.43 percent by the provisional close, with almost all sectors closing in the black. On the week, however, the STOXX 600 soared 1.70 percent.
Looking at individual stocks, French engineering firm Altran Technologies climbed 3.38 percent amid a report that the company's chief executive has been buying up shares.