Eleven banks penalized for violation of user protection regulations in the first half of 2018
The National Bank of Serbia (NBS) issued 15 fines against 11 banks in Serbia due to the violation of regulations of protection of users of financial services in the first six months of the current year. As the NBS told Tanjug, the fines were issued in line with the Law on Payment Services and the Law on Protection of Users of Financial Services, due to the determined irregularities and dishonest business practices and unjust contract stipulations.
KMBN: Two members of management structures leave Komercijalna Banka
Philippe Delpal, a member of the Management Board of Komercijalna Banka and a representative of the European Bank for Reconstruction and Development (EBRD), has resigned from the position, the PR service of Komercijalna Banka confirmed for Tanjug. Furthermore, Dejan Tesic, a member of the Executive Board of Komercijalna Banka, has filed a request for a mutually agreed termination of the labor contract. In line with the internal procedures, these requests will be considered at a session of the Management Board of Komercijalna Banka, the PR service announced.
Solid corn crop yield to hike GDP growth in Serbia
Solid corn crop yield may result in much higher agricultural output this year, which further will impact GDP growth rate positively, local economists say. Milan Prostran, agricultural expert says that this year total value of agricultural production may hit USD 5.5m. Dragovan Milicevic, local economists, believe that only agricultural sector will provide 0.5 to 0.8% growth for the country’s GDP this year, as share of agriculture in Serbian economy is still high.
Source: Seebiz, Ilirika
Croatia's jobless rate drops to record low 9.2% in May
Croatia's registered unemployment rate fell to a new record low 9.2% in May from 10.4% in April, the country's statistical office said on Wednesday. In May 2017, Croatia's unemployment rate stood at 11.7%. Croatia had a labour force of 1.55 million in May, up 0.7% on the month. In June last year, Croatia's unemployment rate fell to 10.8% for the first time since 2000 when the Croatian statistical office started reporting the indicator. In April this year it exceeded that record by falling to 10.4%, after rising towards the end of 2017 to above 12%.
Dow falls as Wall Street weighs Trump legal worries vs. strong earnings, Europe holds steady at the close amid US-China trade talks, autos tanks 2.75%
Stocks treaded water on Wednesday as Wall Street measured renewed political worries surrounding President Donald Trump against strong corporate earnings. The S&P 500 closed largely unchanged at 2,861.82 as energy and tech outperformed. Energy stocks were boosted by a 3 percent rally in oil. The Nasdaq Composite, meanwhile, rose 0.4 percent to close at 7.889.10 as Netflix and Amazon gained 1.9 percent and 1.1 percent, respectively. The Dow Jones Industrial Average slipped 89 points, however, closing at 25,733.60.
Target shares jumped on strong earnings, helping stocks offset some of the losses. Home-improvement retailer Lowe's also reported better-than-expected earnings, sending its stock up more than 6 percent.
European stocks finished Wednesday's session on a relatively muted note, as investors continued to monitor trade talks between the world's two largest economies. The pan-European STOXX 600 provisionally closed around the flatline, off 0.03 percent, with the majority of sectors closing flat or on a positive note.
In a Wall Street Journal interview published Tuesday, Commerce Secretary Wilbur Ross said that a decision regarding autos charges would be delayed because of ongoing negotiations with Mexico, Canada and the European Commission. He declined to set a new timeline. By the market close, all European carmakers ended in the red, with shares of Schaeffler, Michelin and Faurecia down 4 percent or more. Germany's Continental, however, saw shares slide 13.2 percent after it issued a profit warning, causing other auto supplier stocks to stumble.