Agreement on sale of Port of Novi Sad to P&O Port Dubai for EUR 7.99 million signed
The agreement on the privatization of the Port of Novi Sad was signed today, May 10, at the Government of Serbia by the state secretary at the Ministry of Economy, Dragan Stevanovic, and the CEO of P&O Port Dubai from the UAE, Rado Antolovic. The commission of the Ministry of Economy for the execution of the procedure of the privatization of the Port of Novi Sad declared the financial offer of P&O Port Dubai for the purchase of the Novi Sad-based company successful in late March. The port was sold at the initial price of EUR 7.99 million.
IMF mission opens official discussions with Serbian delegation
Official discussions between representatives of the Republic of Serbia and an International Monetary Fund (IMF) mission opened on Friday with a plenary meeting at the National Bank of Serbia (NBS). The Serbian delegation is headed by NBS Governor Jorgovanka Tabakovic, who is also the Governor of the IMF for Serbia, and Finance Ministry officials also took part in the discussions, the NBS said in a statement. The IMF delegation, headed by new mission head Jan Kess Martijn, will be in Belgrade until May 21 for discussions on a second biannual review under the Policy Coordination Instrument along with consultations under Article IV of the IMF Articles of Agreement.
88 pct of AHK members would invest in Serbia again – survey
German and Serbian companies in the German-Serbian Chamber of Commerce (AHK) see the business climate in Serbia as positive and 88 pct of them would invest in Serbia again, according to the results of the latest AHK survey. Companies that took part in the chamber's 14th survey on business conditions in Serbia said they had positive expectations from their operations and were satisfied with the labour market but noted that more intensive effort was needed to fight corruption and strengthen legal certainty and transparency of public procurements.
Dow stages 450-point comeback, ends the day higher after Trump says China trade talks to continue, Europe stocks close higher despite US tariff hike on Chinese goods, Thyssenkrupp rises 28%
Stocks staged a massive reversal on Friday after President Donald Trump said conversations with China over trade will continue and his relationship with President Xi Jinping remains strong. The Dow Jones Industrial Average finished the day 114.01 points higher at 25,942.37, roaring back from a 358-point loss earlier in the session that came in the wake of a tariff increase by the U.S. effective just after midnight. The S&P 500 snapped a four-day losing streak, eking out a 0.37% gain at 2,881.40. The Nasdaq Composite ended the day slightly higher at 7,916.94 after stocks rallied from their lows.
Ride-hailing giant Uber began trading on the New York Stock Exchange Friday at $42 per share, after pricing at $45 per share. The stock finished the day nearly 8% lower.
European stocks closed higher on average Friday despite the U.S. hiking duties on $200 billion worth of Chinese products.
The pan-European STOXX 600 climbed provisionally 0.4% higher, with the export-heavy German DAX index rising by 0.85%. All but three sectors closed in positive territory, with only the autos sector, with its heavy exposure to China, edging below the flatline.
Looking at individual stocks, metal producer Thyssenkrupp surged to the top of the European index after Reuters reported the company was considering a partial listing of its elevator business. The German stock gained 28.4%.