Serbia, Albania post largest NPL ratio improvement in CESEE
Serbia and Albania recorded the largest improvement in the non-performing loan (NPL) ratio of their respective banking sectors among 17 countries in Central, Eastern and South Eastern Europe (CESEE) in the 12 months to September 2017, according to a report of European Bank Coordination "Vienna" Initiative. The NPL ratios in Serbia and Albania declined by 7.3 and 6.5 percentage points year-on-year at the end of September 2017, respectively, with figures demonstrating a steady downward trend of the NPL volumes and ratios for all 17 countries reviewed, a NPL Monitor for the CESEE region published by the Vienna Initiative shows.
AERO: Serbia and Iran sign agreement on air transport
Serbian Deputy Prime Minister and Minister of Construction, Transport and Infrastructure Zorana Mihajlovic and Iranian Minister of Mining, Industry and Trade Mohammad Shariatmadari signed the Air Transport Agreement between the two countries on Thursday, June 21, 2018. The agreement was signed as part of the 15th session of the Mixed Trade Committee of the Republic of Serbia and the Islamic Republic of Iran, held at the Palace of Serbia in Belgrade.
NIIS: GA approved RSD 42.6 per share as a cash dividend
General Assembly at NIS (NIIS) approved proposed gross RSD 42.6 per share as a cash dividend. This bears 6.2% gross yield, with GA date as a record date. As usual, the company kept payout ratio unchanged at 25%. In 2017, NIS posted RSD 27.8bn in annual net profit, while 6.9bn will be paid out as a dividend, in total.
Source: Belex, Ilirika
Americans interested in Croatian oil company INA
Less than a year after the Russian offer for the takeover of the MOL stake in INA was opened, Croatia received a new offer from the USA. Jutarnji List has the letters sent in early March to Croatian Prime Minister Andrej Plenkovic by the American company Castleton Commodities International (CCI) expressing official interest in entering a strategic partnership with the government in INA.
Dow jumps more than 100 points, snaps 8-day losing streak, Europe ends sharply higher after OPEC secures deal on oil production, autos slip
Stocks closed higher on Friday as investors tried to shake off jitters concerning trade tensions between the U.S. and China, with energy shares rising. The Dow Jones Industrial Average rose 119.19 points to 24,580.89, with Chevron and Exxon Mobil among the best-performing stocks in the index. The S&P 500 gained 0.2 percent to close at 2,754.88, with energy, materials and telecommunications outperforming. The Nasdaq composite, meanwhile, closed 0.3 percent lower at 7,692.82 as tech shares fell.
Shares of General Motors, Caterpillar and Boeing — all companies that do a lot of business outside of the U.S. — rose by at least 0.3 percent.
European stocks finished Friday on a high note, as investors cheered on news coming out of an OPEC meeting in Austria. The pan-European STOXX 600 finished the session up 1.09 percent provisionally, with all but two of the sectors closing in the black.
OPEC ministers in Vienna have agreed on oil production levels for their countries and crude-producing nations cooperating with the cartel.
After a tense few days, producers jointly decided to start pumping more, so that nations would no longer overshoot the target that was set in November 2016.
Looking at individual stocks, Airbus issued its strongest warning yet over the impact of Brexit, saying that the U.K.'s withdrawal from the EU without a deal would force it to consider it's long-term position in Britain. Shares however finished trade up over 2 percent.