Lower income tax as of 2019
Faster refund of value added tax and lower income tax are going to be measures that the Ministry of Finance will insist on being implemented – the Serbian Finance Minister, Sinisa Mali, announced on Wednesday. The decrease in income tax could be applicable as of 2019, he added.
Serbia’s public debt rises in May
Serbia’s public debt stood at 24.1 billion Euros or 59.9 percent of the GDP at the end of May, the Finance Ministry said on Friday. According to Finance Ministry figures, the public debt in May rose from 23.6 billion Euros in April which was 58.6 percent of the GDP at the time. The country’s public debt stood at 23.2 billion Euros or 61.5 percent of the GDP at the end of 2017
FCA tops list of Serbian exporters
Fiat Chrysler Automobiles (FCA) was Serbia's top exporter in the first six months of this year with exports worth 471.4 mln euros, the Ministry of Finance announced Friday. HBIS Group, which owns the Smederevo steel mill, was in second with 403.4 mln euros, followed by Tigar Pirot (190.8 mln).
Luka Koper reports 6% higher revenues for 1H 2018
Slovenian sea port, Luka Koper (LJSE: LKPG) reported net sales for 1H 2018 at EUR 111m , up 6% y/y. Total cargo throughput the period was flat at 11.9mt. The stock was down 0.32% on Friday.
Source: LJSE, Ilirika
S&P 500 posts best close since February, Nasdaq inches to record as Amazon gains, European markets close slightly higher amid global trade fears
The S&P 500 posted on Friday its best closing level since early February as shares from some of the largest tech companies hit record highs. The broad index climbed 0.1 percent to 2,801.31 as Facebook, Amazon and Microsoft rose 0.2 percent, 0.9 percent and 1.2 percent, respectively. The Dow Jones Industrial Average rose 94.52 points to 25,019.41, while Nasdaq Composite eked out a small gain to close at 7,825.98, a record.
Some of the major U.S. banks reported earnings Friday before the open. J.P. Morgan Chase posted better-than-expected earnings and sales, as its trading revenue rose 13 percent in the second quarter on a year-over-year basis. Citigroup, meanwhile, posted a stronger-than-expected profit but its revenue for the quarter missed. J.P. Morgan Chase slipped 0.5 percent after rising as much as 0.9 percent, while Citigroup dropped more than 2 percent.
Wells Fargo’s earnings and revenue both missed as its fake-account scandal is still taking a toll on the company. The bank also said a tax hit of $481 million also pressured the results. Shares of Wells Fargo fell 1.2 percent.
European stocks closed higher by a slim margin on Friday as investors digested fresh corporate earnings from out of the U.S. All major bourses finishing in positive territory. Peripheral markets however were mixed by the close. On the sector front, most industries closed around the flat-line or in the black.
Norwegian insurer Gjensidige ended trade lower after it reported weaker-than-anticipated corporate earnings. The Oslo-listed stocks' shares had foundered by 10.3 percent at the market close.