Decathlon acknowledgment for Tigar AD Pirot – Global sports goods retail chain in Serbia from 2019
Representatives of Decathlon, a global sports goods retail chain, which operates in more than 40 countries and which will have its stores in Serbia from 2019, pronounced Tigar AD (TIGR) in Pirot and company with good practice and raised its rating to class B following the tour of the Pirot-based footwear factory. This practically means that the Pirot-based company has gone up the social ladder when it comes to employee relations.
Serbia to sign contract with Bechtel for Morava Corridor
Serbia's government plans to sign an agreement with US civil engineering group Bechtel for the construction of a road connecting Trans-European transport Corridors X and XI in the short term, infrastructure minister Zorana Mihajlovic said. The government will sign in the short term a cooperation agreement with Bechtel on the construction of the motorway, which will link Cacak to Krusevac, in central Serbia, Mihajlovic said, as quoted in a statement by the Serbian government on Sunday.
NBS: Official talks with IMF mission begin
The plenary meeting held yesterday at the National Bank of Serbia marked the start of the official talks between Serbian representatives and the IMF Mission regarding the first review of the results accomplished within the new programme of macroeconomic and structural reforms, supported by the Policy Coordination Instrument (PCI). The IMF Mission, headed by James Roaf, will be in Belgrade from 24 September to 4 October 2018. During this time, the meetings will analyse the current economic, monetary and fiscal movements in Serbia and projections of macroeconomic indicators for the ongoing and the following year.
S&P revises Croatia's outlook to positive on strengthening fiscal, economic performance
S&P Global Ratings said it has revised its outlook on Croatia to positive from stable, while at the same time affirming its 'BB+/B' long- and short-term foreign and local currency sovereign credit ratings on the country. It noted that it could raise its ratings on Croatia if it maintains fiscal prudency, supported by expenditure control and revenue enhancing measures, reducing public debt.
Dow drops more than 150 points on fears Deputy AG Rosenstein is leaving, European stocks close lower as fresh US-China trade tariffs kick in
Stocks fell Monday on worries of more political turmoil out of the White House ahead of crucial midterm elections where the Republican party is trying to hold onto both houses of Congress. Equities were also under pressure by the cancellation of U.S.-China trade talks. The Dow Jones Industrial Average closed 181.45 points lower at 26,562.05 and dropped nearly 200 points at its lows of the day. The S&P 500 declined 0.4 percent to 2,919.37. The Nasdaq Composite rose 0.1 percent to 7,993.25, however, as Netflix shares gained 2.3 percent. Boeing and General Electric were among the big losers.
Comcast outbid Twenty-First Century Fox on Saturday in a $39 billion takeover of U.K. broadcaster Sky, submitting a much higher bid in a three-round auction. On Monday, the U.K. broadcaster recommended its shareholders to accept an offer from Comcast. Comcast shares fell 6 percent while Fox's stock rose 1.5 percent. Meanwhile, SiriusXM announced it would buy Pandora in a stock deal worth $3.5 billion. The deal initially sent Pandora shares ripping nearly 20 percent higher in the premarket but fell 1.2 percent in regular trading.
Energy shares rose, meanwhile, as Brent crude broke above $80 per barrel to hit its highest level since 2014 after OPEC leaders signaled they would not be boosting output immediately.
European stocks finished lower on Monday, as investors braced for the ramifications of another round of tariffs from the two major economies. The pan-European Stoxx 600 ended provisionally down by 0.54 percent with almost every sector in the red. Autos were the worst performers following renewed uncertainty over U.S.-China trade relations. Monday marks the day when the latest round of tariffs — which target products from both the U.S. and China — come into effect.
BMW and a number of other German automakers also lost value after representatives of auto companies failed to reach a compromise with the German government on the retrofitting of diesel vehicles. German Chancellor Angela Merkel on Monday said she would finalize a decision on diesel car retrofits on October 1. Volkswagen fell 0.88 percent, Daimler dropped 2.6 percent and BMW dropped 2.51 percent.