NBS: Key policy rate unchanged
At its meeting yesterday, the NBS Executive Board voted to keep the key policy rate at 3.0%. In making this decision, the Executive Board took into account primarily the outlook for inflation and its factors, as well as the effects of past monetary policy easing. Inflationary pressures stayed low even against the background of strong economic growth. Inflation continued to move within the target tolerance band, measuring in October 2.2% y-o-y.
Quota for export of beef to Turkey to be higher by 40% from 2019
Serbian Agriculture Minister Branislav Nedimovic managed to reach an agreement in Ankara yesterday under which the current quota of 5,000 tons for the export of beef to Turkey will increase by 40%. Nedimovic discussed the enhancement of the cooperation and trade of agricultural products with his Turkish colleague, Bekir Pakdemirli. As the Ministry of Agriculture announced, the quota of 5,000 tons was reached in four months, and the increased quota will enable the value of the export of meat to Turkey to increase from 25 to nearly 35 million euros.
ASL Airlines France to operate Paris – Belgrade flights during next summer
French carrier ASL Airlines France said on Thursday it would start regular season flights between Belgrade and Paris twice a week from June 24 to September 5 2019, local news agencies reported. The "Boing 737-700" planes with 147 seats will carry passengers in both directions on Mondays and Thursdays at a price starting from 69 Euros. The ASL Airlines managing director Jean François Dominiak told reporters in Belgrade the new flights would start in summer when it was the highest demand for travels between Paris and Belgrade.
Serbia’s RTB Bor increases exports
Serbia’s Mining and Smelting Basin (RTB) Bor has increased its exports by seven percent this year, the company said on Tuesday. A press release said that the RTB Bor exported some 30,000 tonnes of copper in the 11 months of 2018, earning 188.3 million Dollars. Exports of other goods brought in another 5.3 million Dollars, taking the total to 193.6 milllion. According to the press release, RTB Bor exported copper to Germany, Croatia, Bulgaria, Turkey, Italy, Greece and China while 2.6 tonnes of silver were exported to Great Britain and Switzerland, an unspecified amount of selenium was exported to Poland and the Netherlands, copper sulphate to Turkey, Poland, Hungary and Bosnia-Herzegovina and sulphuric acid to Romania, Greece, Bulgaria, Croatia and Bosnia-Herzegovina.
Dow rebounds from 780-point plunge, ends day just slightly lower on report Fed may pause hikes, European markets close at 2-year low, Stoxx 600 slips 3.3 percent
Stocks slashed steep losses on Thursday after news broke that the Federal Reserve could tighten monetary policy at a slower pace than previously expected.
The Dow Jones Industrial Average traded 212 points lower after plunging nearly 800 points, while the S&P 500 traded 0.7 percent lower. The Nasdaq Composite erased its losses, hovering around the flatline as Amazon, Netflix and Alphabet all rose more than 1 percent.
Apple's stock dropped 2.5 percent after UBS said in a note it sees the weakest "purchase intent" for the iPhone in five years. The bank cut its 12-month price target on Apple to $210 from $225.
The U.S. economy added 179,000 private jobs in November, below an estimate of 195,000, according to a report from ADP and Moody's Analytics. The report comes ahead of the government's monthly jobs report, which is scheduled for release Friday morning.
European stocks cratered on Thursday, amid fears of slowing growth, falling oil prices and a fresh flare-up in tensions between the world's two largest economies. The pan-European Stoxx 600 fell more than 3.3 percent with all and major bourses sectors in negative territory.
Autos stocks — seen as a trade war proxy because of the sector's export-heavy constituent's — were also among the worst performers, down more than 4.5 percent. Faurecia and Daimler both dropped more than 6 percent.
Market participants closely monitored a much-anticipated meeting between OPEC and non-OPEC members in Vienna, Austria on Thursday and Friday. The 15-member group and its allied partners reportedly agreed to cut oil production, but the cartel is not releasing details of the deal until it reaches an agreement with allied producers including Russia.