KMBN: Ministry of Finance seeks financial advisor for selling shares in Komercijalna banka
The Ministry of Finance has published a public call for leading international companies to submit the Expressions of Interest for providing consultancy services for preparing and implementing a plan for selling the shares the state owns in Komercijalna banka (KMBN). The entire state stake comprised of Republic of Serbia shares is up for sale and it can also include other shares by the shareholders willing to join the sale and the privatization process, the public call states.
Serbia moves to new projects with "Russian Railways" worth USD 500m
Deputy PM and Minister of Construction and Infrastructure Zorana Mihajlovic spoke on Friday Deputy Director General of Russian Railways Aleksandar Misharin. They discussed new infrastructure projects in Serbian Railway, worth about USD 500 million. Mihajlovic told reporters after the meeting that Serbia had already used almost the entire Russian loan, explaining that this money was invested in the modernization of sections of the railway Corridor 10 and the Bar.
Western Balkans’ economic growth speeds up to 4.3% y/y in Q2, EC says
The economic upswing continued in the Western Balkans, with annual gross domestic product growth accelerating to 4.3% in the second quarter of 2018, from an average growth rate of 3.6% in the preceding quarter, the European Commission said on Friday. Private consumption and investment continued to support growth and exports seem to have regained momentum. Annualised current account deficits narrowed further in most countries, but overall external positions in many cases remain vulnerable, the Commission said in its EU Candidate Countries' & Potential Candidates' Economic Quarterly report for the third quarter.
Slovenia’s NLB to proceed with launch of IPO
Slovenia's state-owned lender Nova Ljubljanska Banka (NLB) said on Monday it intends to proceed with a public offer of its shares on the Ljubljana Stock Exchange (LJSE) and the London Stock Exchange (LSE). NLB will offer at least 50% of the company’s existing shares plus one share and up to 75% of the company’s existing shares less one share currently owned by the selling shareholder in an institutional offering of shares to be listed on the LJSE and global depositary receipts (GDRs) representing shares to be listed on the LSE, and a public offering of shares and GDRs in Slovenia, the bank said in said in a statement.
Stocks fall, led by tech, as Wall Street fails to bounce back from last week's rout, European markets close slightly higher following impasse in Brexit talks
A decline in tech shares pushed the major indexes lower on Monday as Wall Street tried to regain its footing after last week's sharp losses. The S&P 500 dipped 0.6 percent to 2,750.79 as the tech sector fell more than 1.5 percent. The tech-heavy Nasdaq Composite dropped 0.9 percent to close at 7,430.74. The Dow Jones Industrial Average closed 89.44 points lower at 25,250.55.
Apple and Netflix pulled back more than 1.8 percent each. Netflix fell after Goldman Sachs and Raymond James slashed its price targets on the video-streaming giant. Apple dropped after Goldman Sachs said the tech giant's earnings could fall short this year as demand in China slows. Amazon, Microsoft and Alphabet also traded lower.
Bank of America reported better-than-expected earnings and revenue on Monday. The stock, however, fell 1.9 percent.
European stocks closed higher Monday afternoon, as concerns over Brexit progress, a potential slowdown in the Chinese economy and higher U.S. borrowing costs limited investor appetite.The pan-European Stoxx 600 closed up around 0.6 percent, with more sectors and major bourses in positive territory than negative.
Investors were seen looking ahead to a crucial European summit on Wednesday. Negotiators from the U.K. and European Union failed to clinch a Brexit deal over the weekend, with both sides citing unresolved issues relating to frontier checks between Ireland and Northern Ireland.