Number of building permits issued in June 2018 in Serbia higher by 20%.
A total of 2,003 electronic building permits were issued in Serbia in June 2018, which is 20% more than in the same month last year, when 1,704 permits were issued, the Ministry of Construction, Transport and Infrastructure announced. The first half of 2018 saw 8,686 building permits issued, 11.5% more than in the first six months of 2017.
KMBN: Preparations for privatization of Komercijalna Banka in progress
The preparations for the privatization of Komercijalna Banka are in progress and the National Bank of Serbia is taking part in them, NBS Governor Jorgovanka Tabakovic stated today. As she added, the future co-owner and a shareholder in Komercijalna Banka can only be an entity that is desirable as an investor, in terms of financial strength, the experience in managing financial institutions and a long-term orientation toward contributing to the already strong position of the financial system in Serbia.
Nearly EUR 1bn to be invested in wind farms in Serbia
In two to three years, a total of 187 wind turbines will be built in southern Banat, where the wind blows almost 365 days a year. These installations will supply nearly 200,000 households with "green energy." The overall value of the investments is nearly one billion euroes - making it one of the largest investments in Serbia, the daily Vecernje Novosti writes. These wind farms will be built by investors from Abu Dhabi, Italy, Belgium, and the Netherlands.
Croatia's Valamar Riviera grows H1 cons EBITDA
Croatian hotel operator Valamar Riviera [ZSE:RIVP-R-A] said on Monday its consolidated EBITDA rose 17.7% on the year to 106.8 million kuna ($16.9 million/14.4 million euro) in the first half of 2018. The company's total revenues increased 13.3% year-on-year to 647.7 million kuna in the six months through June, as sales revenues rose 14.5% to 586.2 million kuna, it said in a filing with the Zagreb bourse. Valamar recorded a 9.5% growth in overnight stays to 2,037,444 in the review period, while accommodation units sold increased 10.2% to 1,018,483
Nasdaq posts biggest 3-day loss since March as Facebook, Amazon and Netflix drop, European stocks close lower on earnings, Heineken shares drop more than 6%
Stocks fell as a steep decline in technology shares that started last week carried through to Monday. The tech-heavy Nasdaq Composite dropped 1.4 percent to 7,630. Shares of Facebook and Netflix fell 2.2 percent and 5.7 percent, respectively. Amazon declined 2.1 percent while Google-parent Alphabet fell 1.8 percent. The S&P 500 declined 0.6 percent to 2,802.60 as the tech sector dropped 1.8 percent. The Dow Jones Industrial Average fell 144.23 points to close at 25,306.83 as Visa and American Express lagged.
Caterpillar said in its second-quarter earnings report that recently imposed tariffs will shave off between $100 million and $200 million from its bottom line in the second half. The company also reported better-than-expected earnings and raised its full-year outlook, however.
Wall Street looked ahead to the Federal Reserve's latest monetary policy meeting, which is scheduled to start Tuesday. Treasury yields rose ahead of the meeting on Monday, with the 10-year yield hitting 2.99 percent, its highest level since June 13.
European stocks closed lower Monday as traders continued to digest earnings from a slew of corporates. Stoxx600 closed provisionally 0.3 percent lower with most sectors in the red.
Shares of BMW were marginally lower on Monday following news that it is set to become the first major carmaker to hike prices on U.S.-built vehicles it exports to China as the implications of the ongoing global trade war start to trickle through to consumers. The carmaker's stock pared those losses later on in the session.
In other earnings news, Heineken shares dropped to the bottom of the European benchmark, down 6.46 percent, after reporting lower-than-expected results for its second quarter and after cutting its margin outlook.
In the latest Brexit-related development, Deutsche Bank has moved nearly half of its euro clearing activities from London to Frankfurt, according to a report from the Financial Times on Sunday.