Miskovic, Kostic and Draskovic to buy Agrokor's companies?
Miroslav Miskovic, Miodrag Kostic and Rodoljub Draskovic are candidates for the purchase of certain companies within Agrokor, Delo writes. The Ljubljana-based daily says that an ideal scenario by which a consortium of regional companies would buy the whole Agrokor or a part of it was discussed at a meeting of the management of the Serbian Mercator-S with Serbian suppliers, which was attended by two Serbian ministers last week. It is assumed that such a consortium would know the local market better than international investment funds.
NIIS: NIS plans to build wind park, may buy HIP Petrohemija
Naftna industrija Srbije (NIS) plans to build a wind park in Serbia as well as a natural gas power station that will generate electricity and steam, NIS CEO Kirill Tyurdenev has told Sputnik in an interview. If purchasing HIP Petrohemija proves profitable, NIS will acquire the company, he also said. One of the plans is for the Pancevo oil refinery to stop producing high-sulphur mazut and start producing coke, Tyurdenev said.
Serbia’s FTA with EAEU to be agreed in March
Serbian Deputy PM and Minister of Trade, Tourism and Telecommunications Rasim Ljajic expects an FTA with the Eurasian Economic Union (EAEU) to be fully agreed in the last round of discussions on March 20-21. Discussions between negotiating teams on finalising the agreement and on open issues concerning cigarette exports were held two days ago, Ljajic told Tanjug.
"Our demand was to enable duty free exports of 2,000 t of cigarettes and we also requested a 1,000 t quota for certain types of cheese and 50,000 l of vinjak," Ljajic said.
Foreign investments in Montenegro amount to EUR 843.1 million – Serbia invests EUR 65.5 million
Foreign investments in Montenegro in 2018 amount to EUR 843.1 million, with Serbia among the biggest investors, Dnevne Novine reports. Foreigners mostly invested in Montenegrin companies and banks (EUR 337.2 million), whereas intercompany debts, that is, investments which don't increase the basic capital, amounted to EUR 300 million. Thanks to the sale of real estate, foreigners invested EUR 182.6 million, and other investments amounted to EUR 23.2 million. Italy is at the top of the list with investments of EUR 116.7 million, followed by Russia with EUR 66.8 million, Serbia with EUR 65.5 million, Hungary with EUR 59.5 million and Turkey with EUR 53.2 million.
US stocks closed slightly higher in choppy trading, European markets close higher amid earnings, US-China trade hopes
Stocks closed slightly higher in choppy trading Wednesday as Wall Street tried to interpret a release from the Federal Reserve which summarized its crucial meeting last month where the central bank indicated it would be patient on future rate hikes.
The Nasdaq Composite ended the day just above the flatline at 7,489.07 to notch its eight consecutive gain. The Dow Jones Industrial Average rose 63.12 points to 25,954.44. The S&P 500 closed 0.2 percent higher at 2,784.70. Equities gyrated following the Fed's release, with the S&P 500 and Dow reaching their highs of the day.
The Fed meeting minutes highlighted downside risks to the economy from its January meeting, including "the possibilities of a sharper-than-expected slowdown in global economic growth, particularly in China and Europe, a rapid waning of fiscal policy stimulus, or a further tightening of financial market conditions."
CVS Health shares fell more than 8 percent after issuing a weaker-than-expected earnings forecast for 2019. The company's guidance comes after closing a $70 billion deal to acquire health insurer Aetna in November.
Southwest airlines fell 5.65 percent after slashing its revenue guidance. The company said the recent U.S. government shutdown cost it $60 million in sales.
European stocks were slightly higher Wednesday afternoon, amid rising hopes the world's two largest economies could soon secure a trade deal to end a protracted dispute. The pan-European Stoxx 600 closed provisionally up around 0.7 percent on Wednesday, with most sectors and major bourses in positive territory.
Shares of the Swiss bank UBS fell more than 3 percent after a French court found it guilty of illegally soliciting clients in France and laundering the proceeds of tax evasion. The bank was fined 4.5 billion euros ($5.1 billion).