HBIS to invest EUR 150 million in Smederevo steel mill by June 2020 – Factory needs new equipment
Song Sihai, the director of HBIS Serbia, says that this year’s production at the Smederevo steel mill will reach 1.8 million tons, whereas the production of cast steel slabs will amount to 1.7 million tons. Talking about further investment plans, he says that they will invest EUR 150 million by June 2020, as new equipment is needed in the entire factory.
ENHL: Thirty companies interested in modernization of Jajinci-Mala Krsna railway
Thirty local and foreign companies have so far sent tenders for the modernization of the Jajinci – Mala Krsna railway, the reconstruction of which will begin in late 2018, the PE Railways of Serbia announced. The companies come from Serbia, Austria, Spain, Turkey, India, Kazakhstan, Bulgaria, Russia, Slovenia, the Czech Republic and India. The estimated value of the reconstruction is EUR 50 million, and the funds are provided from the credit of the European Bank for Reconstruction and Development (EBRD). Energoprojekt (ENHL) is probably the most serious name for this job, among domestic companies.
Source: Ekapija, Ilirika
Serbia records budget surplus in 6 months 2018
Serbia's budget closed the first half of 2018 in surplus of 30.9 billion dinars, finance minister Sinisa Mali said. Half-year budget revenue amounted to 129.3 billion dinars, while expenditure totalled 99 billion dinars, Mali said on Saturday, according to a press release issued by the finance ministry. In the month of June alone the budget surplus amounted to 22.1 billion dinars, Mali said. Mali also Serbia's gross domestic product (GDP) grew by 4.6% year-on-year in the first four months of 2018.
SBITOP down 1.53% on negative sentiment in Europe
Slovenian blue-chip index, SBITOP lost 1.53%, yesterday, impacted by negative sentiment from major European markets, after German politics issues became a topic. All stocks form first quotation were in red, with SavaRe as a top looser. The company lost 5% yesterday, while Krka, pharmaceutical company, was the most traded name, with EUR 495ths in volume.
Source: LJSE, Ilirika
Stocks close higher to start off third quarter, but trade fears cap gains, European markets close lower on German politics and trade concerns
Stocks rose on Monday, the first trading day of the third quarter, led by strong gains in tech. But lingering concerns about the Trump administration's trade policies kept a lid on gains.The Dow Jones Industrial Average closed 35.77 points higher after dropping nearly 200 points earlier in the session, with Microsoft rising 1.4 percent. The S&P 500 advanced 0.3 percent to 2,726.71 with tech rising 1 percent. The Nasdaq composite rose 0.8 percent to 7,567.69 as Facebook, Amazon and Netflix all traded higher.
Elsewhere, a report by the Financial Times suggested that the U.S. could receive a new round of tariffs worth as much as $300 billion, if Washington moves ahead with levies on automakers in the European Union.
Shares in Europe traded lower Monday as investors questioned the stability of the German government and wider trade links between the European Union and the U.S The pan-European Stoxx 600 provisionally ended 0.76 percent lower with every sector in the red. The German Dax started the day leading the falls across the major European bourses, but finished Monday off by 0.49 percent.
In corporate events, Tesco and Carrefour are set to use their market strength to ensure better deals from suppliers and thus fight domestic competition. The two supermarket giants announced a new long-term partnership on Monday.
Airbus shares shares fell 2.54 percent on Monday after it was reported by Bloomberg that the European planemaker is set to miss its 2018 delivery target. The report claimed that problems with the Pratt & Whitney powered A320neo jets would see a shortfall of as many as 40 aircraft from the company's official forecast.
Investors also monitored new data releases. Unemployment numbers in the euro area fell in May putting the jobless rate at 8.4 percent across the 19 countries.