Corridor 10 to be completed by the end of 2019
Serbian Deputy Prime Minister and Minister of Construction, Transport and Infrastructure Zorana Mihajlovic announced, while taking a tour of the works on the construction of the highway from Srpska Kuca to Levosoje on Monday, September 24, that the eastern and the southern branch of Corridor 10 would be completed before the end of 2018, the competent ministry announced. As she reminded, 6.6 kilometers of the highway opened for traffic on the Srpska Kuca-Levosoje section, and it remains for the works on two bridges to be finalized so that the entire route might open for traffic.
Serbia to rank 5th in Europe in terms of economic growth
In 2017, Serbia ranked 28th in Europe in terms of the economic growth rate, while this year it will probably rank 5th or 6th – says Milojko Arsic, editor of the Quarterly Monitor. Based on the last year’s semi-annual growth, in the CEE region, Serbia, with is 4.9% growth, is right behind Poland. However, when we exclude short-term, temporary factors affecting agriculture, construction and power industry, which impact is around 1.5 percentage points, then the economic growth for this year stands at 3.3 percent, which is below the CEE average.
Serbia ranks 84th in world in economic freedom
In terms of economic freedom, Serbia is placed in the lower half on the global list, and out of all Western Balkan countries, only Bosnia and Herzegovina ranked worse – says the report compiled by the Canada-based Fraser Institute. The report, based on data from 2017, states that the degree of economic freedom affects the country’s wealth, life expectancy and the level of happiness. In the report, Serbia ranks 84th out of 162 countries, between Belize and Thailand, and is three places above Russia.
Croatia's jobless rate drops to historic low of 8.5% in August
Croatia's registered unemployment rate fell to a new record low of 8.5% in August from 8.6% in July, the country's statistical office said on Wednesday. It is the lowest rate since January 2000 when the Croatian statistical office started reporting the indicator, according to data published by the Croatian Bureau of Statistics.
Dow drops about 100 points as bank stocks fall following the Fed decision, European markets close higher ahead of Fed decision
Stocks gave up earlier gains on Wednesday as comments from Federal Reserve Chairman Jerome Powell sent interest rates and bank stocks lower. The Dow Jones Industrial Average traded 132 points lower, while the S&P 500 hovered around the flatline. The Nasdaq Composite gained 0.2 percent, off of earlier highs.
Powell told reported after the Fed announced it raised rates for the third time this year he does not see inflation surprising to the upside, noting: "It's not in our forecasts." The comment sent rates lower, along with bank stocks. The 10-year Treasury note yield fell to 3.06 percent. Shares of J.P. Morgan Chase, Bank of America and Citigroup all dropped more than 1 percent.
IBM shares rose 2.4 percent after analysts at UBS upgraded them to buy from neutral, predicting the company will report better-than-expected earnings next year.
European stocks moved mildly higher on Wednesday, as investors sat tight ahead of an upcoming Federal Reserve decision. The pan-European Stoxx 600 closed provisionally 0.29 percent higher at the end of the day with the different sectors moving in opposite directions.
German carmaker Daimler was initially among the biggest losers but pushed higher over the course of the session to finish higher by 0.26 percent. The company said on Wednesday that it would appoint its first ever non-German boss, with current CEO Dieter Zetsche set to hand the reigns over to Swede Ola Kaellenius in 2019.
Plane-maker Airbus saw shares move higher by 3.24 percent on Wednesday. European regulators have granted a crucial certification to its A330-900 plane. Entry into service for the wide-body jet remains planned for 2018.