Nectar soon in markets of China and Japan
The products of the Serbian company Nectar should soon be available in the markets of Africa, Middle East, China and Japan, judging by the great interest and the intentions expressed by buyers and distributors from those areas at the biggest international food show SIAL 2018 in Paris, the company announced. Nectar Group, which encompasses Nectar, Fructal and Heba, presents most of its portfolio at the stand of the Chamber of Commerce of Serbia at the Paris show, which brings together over 7,200 exhibitors from 109 countries.
JESV: Jedinstvo annulled 27,346 own shares
Jedinstvo Sevojno (JESV), reported annulment of 27,346 own shares or 9% of total number, which is in line with a decision of General Assembly form 26th June, this year. The process has been completed on 15th October, the statement says. Remaining numbed of shares outstanding is at 277,373, with RSD 1,500 per share in nominal value, out of which own shares are now at 2,650.
Source: JESV, Ilirika
Serbian banks to step up corporate lending amid market consolidation
Serbian banks are expected to accelerate the growth of corporate lending, enabling a further expansion of the real sector, the CEO of Serbia’s AIK Banka told SeeNews. The Serbian banking sector is transforming at a fast pace and its digitalisation is not lagging behind European trends in terms of meeting market needs, Galic said. In the previous couple of years, there was a trend of increasing lending activity on the Serbian market which was more evident in the retail segment. However, a slow recovery is seen in the corporate segment, enabling further development of the real sector and the economy as a whole.
Slovenian banks' Jan-Aug net profit rises 17%
The net profit of Slovenian banks increased 17.0% year-on-year in the first eight months of 2018, reaching 368.3 million euro ($423.2 million), the country's central bank said. The Slovenian banks' net interest income rose 3.4% on the year to 445.0 million euro in the eight-month period, while their net fee and commission income added 2.1% to 212.9 million euro, Bank of Slovenia said in a monthly report on the performance of the banking sector.
Source: SeeNews, Ilirika
Stocks roar back from 500-point loss in the Dow, but still end the day lower, European stocks close at lowest levels since 2016, German DAX off more than 2%
Stocks fell on Tuesday as corporate results from Caterpillar and 3M disappointed investors, but the market managed to recover most of its losses later in the session as investors rotated into McDonald's and defensive stocks like Procter & Gamble. The Dow Jones Industrial Average closed 126 points lower while the S&P 500 was down 0.6 percent. The Nasdaq Composite, meanwhile, closed 0.4 percent lower and was briefly positive.
Caterpillar dropped more than 10 percent following the release of its results before closing 7.6 percent lower. The company said its manufacturing costs rose due to higher material and freight costs. Material costs were driven by higher steel prices and tariffs. This drop adds to Caterpillar's steep monthly losses. Through Tuesday's close, the stock is down 22 percent for the month.
Shares of 3M fell as much as 8.4 percent before trading about 4.4 percent lower. Its quarterly earnings and revenue missed expectations. The company also trimmed its earnings outlook for 2018.
European stocks fell to their lowest levels since late 2016 on Tuesday, as diplomatic tensions in Saudi Arabia, concerns over Italy's budget and earnings all depressed market sentiment.The pan-European Stoxx 600 was provisionally down 1.49 percent by the end of trade, slipping to its lowest level in almost two years.
Europe's technology stocks were among the worst performers, falling by over 3.6 percent amid earnings news. Shares of Austrian chipmaker AMS tumbled almost 27 percent after the company's outlook for the final three months of the year failed to convince investors.