KMBN: Tender for Komercijalna Banka in May, at least two good offers expected
A month after the Ministry of Finance picked an adviser for the selection of a strategic partner for the sale of Komercijalna Banka, Minister Sinisa Mali stated for Blic that he expected at least two good offers which meet the requirements. The tender for a strategic partner of Komercijalna Banka will open in May and the entire procedure should be completed by the end of the year. I expect at least two good offers and the most important thing is for the process to be transparent. In the meantime, Lazard will prepare the documentation and present the state with the best options. I really don't know at the moment who the potential partners are. What's important is for them to meet the requirements set by the National Bank of Serbia – Mali told Blic at the Kopaonik Business Forum.
NBS: Key policy rate in Serbia kept at 3%
At its meeting today, the NBS Executive Board voted to keep the key policy rate on hold, at 3.0%. In making the decision, the Executive Board was guided by the expected movement in inflation and its underlying factors, and the effects of past monetary policy easing. Inflation has been low and stable for the sixth year in a row. In January it stood at 2.1% y-o-y. Core inflation is also low, at 1.2% y-o-y in January.
Source: Ekapija, NBS
TurkStream crucial for Serbia, does not only depend on Russia
The TurkStream gas pipeline is crucial for Serbia and its economic development, Russian Deputy PM Yury Borisov said in Belgrade Thursday, noting that the construction of a trunk gas pipeline through Serbia did not solely depend on Russia, but also on Hungary and Bulgaria. "We have a roadmap but not everything depends on Russia. We believe the construction of the gas pipeline will be crucial for Serbia and boost its energy competitiveness," Borisov told reporters after a meeting of a Serbian-Russian intergovernmental committee on trade, economic and scientific and technical cooperation.
Dow slides 200 points, posts 4-day drop as Wall Street fears world economy may be slowing, European stocks close lower after ECB trims growth forecast
Stocks fell on Thursday after the European Central Bank slashed its economic growth forecast for 2019 and announced a new round of stimulus to help banks in the region, stoking worries over the global economy. The Dow Jones Industrial Average closed 200.23 points lower at 25,473.23 as shares of Caterpillar and Walgreens Boots Alliance lagged. The S&P 500 fell 0.8 percent to 2,748.93, led by declines in the financials and consumer discretionary sectors. The Nasdaq Composite dropped 1.1 percent to 7,421.46. The indexes posted their fourth consecutive loss.
Data out on Wednesday showed that the U.S. trade deficit remains a problem. President Donald Trump has imposed a series of tariffs on countries like China, in an attempt to bring down his country's trade deficit. However, Wednesday's data showed that trade deficit in the U.S. hit a 10-year high in December.
European shares closed lower Thursday after the European Central Bank cut its forecast for growth in the euro zone. At the closing bell, the pan-European Stoxx 600 was down almost 0.6 percent with almost every sector in the red. The central bank also announced it was to start a fresh set of loans to banks. The TLTRO program, which will be launched in September this year and end in March 2021, is seen as a bid by the central bank to prop up Europe's flagging economy.
At the other end of the scale, Hugo Boss fell 6.5 percent. The retailer said Thursday that it expects its operating profit to increase faster than sales in 2019, Reuters reported.