EIF signed EUR 20m loan agreement with five banks in Serbia
On November 20th, the European Investment Fund and five banks in Serbia signed an agreement on financial assistance to small and medium enterprises at the premises of the Serbian Government. The agreement on the implementation of the guarantee scheme with financial assistance to small and medium enterprises in the amount of 20 million euro was signed by a representative of the European Investment Fund and the representatives of Raiffeisen Bank, UniCredit, ProCredit and Komercijalna Banka, as well as Banca Intesa.
Regional salaries highest in Slovenia, lowest in Macedonia
The latest statistics show that the highest average salaries in the countries of the former Yugoslavia are in Slovenia and the lowest in Macedonia, the Anadolia news agency reported on Friday. The report said that salaries in Croatia are the next highest while Macedonia, Serbia and Bosnia-Herzegovina have the lowest average salaries in the region. According to Slovenian Statistics Office data, the average monthly salary in that country stood at 1,082 Euros in August 2018. That is also the only average salary higher than 1,000 Euros in the region. Croatia came in second with average salaries of 843 euros in August. Those two countries are the only European Union members in the region. Montenegro’s Monstat agency said that average salaries in September stood at 512 Euros. Bosnia-Herzergovina Statistics Agency data shows that the average salary in that country stood at 448 Euros in September while Serbian Republic Statistics Office data showed that the average salary in August stood at 421 Euros.
No interest in purchase of Novi Sad Port
There were no purchasers interested in AD Luka Novi Sad (Port of Novi Sad) at the latest attempt at a sale, with November 21 as the bid submission deadline, Dnevnik learns. The bids were supposed to be opened today. We remind that eligible purchasers were those that had spent at least ten years in the port business, with an income of at least EUR 30,000,000 in 2017 and over 1.4 million tons reloaded in the preceding three years. The initial price was EUR 15,976,778, the company’s market value as of December 31, 2017.
Slovenian drug maker Krka's 9-mo net profit rises 10%
Slovenian pharmaceuticals producer Krka (LJSE:KRKG) posted a consolidated net profit of 120.8 million euro ($137.6 million) in the first nine months of 2018, up 10% on the year, the company said on Thursday citing preliminary data. Consolidated revenue increased 4.7% year-on-year to 971.9 million euro in the nine months through September, Krka said in a bourse filing. Krka's region East Europe reached the highest sales figure in the group, of 287.6 million euro or 29.6% of total group sales. Sales in East Europe rose 6% on the year.
European markets fight back to close higher, oil in focus
European stocks gyrated on Friday, partially affected by a steep dip in oil prices. The pan-European Stoxx 600 moved lower in the early afternoon but recovered ground to close Friday's session provisionally 0.42 percent higher by the closing bell.
Oil prices slumped to their lowest levels in more than a year on Friday, deepening a rapid seven-week sell-off that has plunged crude futures deep into a bear market. Friday's declines further ramp up the pressure on OPEC ahead of a much-anticipated meeting between the influential oil cartel and its allied partners. OPEC and non-OPEC members are expected to start curtailing output at a meeting in Vienna on December 6. By the close of trade WTI sat at around $51.13 per barrel and Brent Crude was at $58.83. The Stoxx Euro Oil and Gas sector shed 2.9 percent.
Europe's banking index moved into positive territory on Friday, up around 0.5 percent amid support from Italy's notoriously fragile lenders. Banco BPM, Unicredit and Ubi Banca were all trading more than 2 percent higher after the country's deputy prime minister, Luigi Di Maio, reportedly said Rome would show the highest willingness to work with European institutions in order to resolve a budget stand-off.
Bond yields fell as investors increased bets that weak growth across the euro zone (19 of the 28 European Union members) would slow the ECB's plan to withdraw stimulus.