Ten agreements worth over USD 1.5 billion to be signed in China
The presidents of China and Serbia, Xi Jinping and Aleksandar Vucic, will verify a special economic package of at least 10 agreements, worth a total of over USD 1.5 billion, on September 18 in Beijing, Novosti reports. The state will thereby secure capital investments in the fields of infrastructure, transport, agriculture, industry and information technologies.
Serbia to hike pensions in October, public sector wages in December
Serbia plans to increase pensions in October, and hike wages in the public sector two months later, president Aleksandar Vucic said on Friday. In the next month or so, the government will abolish the law on the temporary reduction of pensions, adopted in 2014 to reduce budget deficit, Vucic said in comments aired by public broadcaster Radio Beograd 1.
Serbia’s average salaries higher than a year ago
The average net monthly salary in Serbia stood at 49,226 Dinars or 417 Euros in June, the Serbian Statistics Office said on Friday. Those average net salaries were nominally 5.8 percent higher and 3.4 percent higher in real terms than the average net monthly salaries in June 2017. The average gross salary in June stood at 68,047 Dinars (about 575 Euros) and was nominally 5,3 percent higher and 2.9 percent higher in real terms than a year earlier.
Slovenia's Petrol boosts H1 cons net profit 15% y/y
Slovenian energy company Petrol said on Friday its consolidated net profit increased 15% year-on-year to 39.1 million euro ($46.4 million) in the first half of 2018. Consolidated sales jumped 13% to 2.4 billion euro in the six months through June, while EBITDA increased 9% to 78.8 million euro, Petrol said in a bourse filing. Sales of merchandise and related services accounted for 19% of the Petrol Group’s EBITDA, sales of energy and environmental solutions for 13%, sales of liquefied petroleum gas for 7%, sales of other energents for 5%, and electricity generation from renewable sources to 4% of its EBITDA.
Source: SeeNews, Seebiz
S&P 500 and Nasdaq close at record highs as Netflix jumps, European stocks close higher as US-China trade talks end,
The S&P 500 and Nasdaq Composite reached all-time highs on Friday as Netflix shares rose. The broader market also climbed after the top Federal Reserve official characterized the U.S. economy as "strong." The S&P 500 rose 0.6 percent to close at 2,874.69, led by gains in materials and tech. Friday marked the S&P 500's first record close since Jan. 26. The tech-heavy Nasdaq advanced 0.9 percent and closed at 7,945.98. The Dow Jones Industrial Average jumped 133.37 points to 25,790.35 as DowDuPont outperformed.
Netflix rose 5.8 percent on Friday after analysts at SunTrust upgraded the stock, noting it will keep going higher because of its success overseas. The stock has had a strong week, gaining more than 10 percent this week.
European stocks closed higher Friday following the conclusion of U.S.-China trade talks and a key speech by Federal Reserve Chair Jerome Powell.
The pan-European Euro Stoxx 600 index traded 0.1 percent higher, with most sectors in the black. Basic resources — with their heavy exposure to China — were the best performers. This comes despite trade talks between the U.S. and China ending without any progress Thursday, the same day that new tariffs on each other's economies came into force.
Looking at individual stocks, shares of Irish building materials firm Kingspan rose almost 10 percent, to the top of the European benchmark, after the building materials firm reported a rise in trading profits for its first half and gave a positive outlook for the rest of the year.