Serbia sends offer to Volkswagen – If they accept, factory to be located in Indjija, Jagodina as alternative
The potential arrival of Volkswagen to Serbia has been talked about for some time now, and there are now indications as to where the factory might be located. As Novosti learns, Serbia has offered the territory of Indjija. The offer contains documentation with data on the parcel and a proposition of additional investments the country is prepared to make. The possibility of having one line of the future Belgrade Subway going to Indjija has also been offered, so that citizens of Belgrade might also work at these facilities.
Serbian sugar industry produces barely enough sugar for domestic needs
Agricultural producers in Serbia have planted sugar beet on about 30,000 hectares of land this year, which is 50% than last year, and depending on the yield, there will be just about enough sugar for domestic needs, but not for export – said Milan Prostran, an agriculture expert. He told the Beta agency that Serbia has a sugar export quota of 180,000 tonnes in the EU and that Serbia was asked to increase to 220,000 tonnes several years ago, considering that sugar beet was planted on over 100,000 hectares of land.
Huawei to open regional innovation center in Belgrade – Chinese technological giant and Government of Serbia to develop smart cities project
The Government of Serbia has adopted the decision on the adoption of the Plan of Bilateral Cooperation between the governments of Serbia and China within the “Belt and Road” initiative. On behalf of the Government of Serbia, the document will be signed by Mining and Energy Minister Aleksandar Antic, the government announced. The members of the government adopted the decision on the adoption of the contents of the Agreement on Economic-Technical Cooperation between the two governments. The decision on the signing of the Memorandum of Understanding for the development of the Smart Cities project in Serbia between the Government of Serbia and Huawei Technologies Co, Ltd. was also reached at the session.
S&P 500 and Nasdaq rally to record closing highs after strong earnings from broad range of companies, Europe markets close higher as investors brace for earnings deluge
The S&P 500 headed for a record close on Tuesday as Wall Street cheered stronger-than-expected quarterly profits from some of the largest publicly traded U.S. companies. The broad index traded 0.8% higher at 2,932.09, above an all-time closing high of 2,930.75 set on Sept. 20. It was still below its intraday record of 2,940.91.
Dow members Coca-Cola and United Technologies reported better-than-expected quarterly earnings on Tuesday. Their shares rose 1.7% and 2.5%, respectively.
Twitter shares jumped 16.3% on its stronger-than-expected results. The social media company said its monthly active users totaled 330 million, more than a FactSet estimate of 318 million.
Defense giant Lockheed Martin also rallied more than 6% after its earnings easily topped expectations. The company reported strong operating margins across all its major businesses, which include aeronautics and missiles. Procter & Gamble also posted stronger-than-forecast earnings, but its stock traded down 2.4%.
Equity markets in Europe closed a tough higher on Tuesday afternoon, as investors monitored a number of geopolitical issues and looked ahead to a new earnings season. The pan-European Stoxx 600 crept into positive territory during afternoon deals, paring earlier losses,and finishing provisionally 0.25 percent higher. Banking stocks led the losses, down more than 1% ahead of earnings announcements from large financial firms this week.
Volkswagen’s shares lost around 1.7% after it emerged that German prosecutors were investigating bonus payments made to an executive who was suspended over the automaker’s emissions cheating scandal.