AERO: Concession payment to be executed by the end of 2018
French company Vinci will execute one-off concession payment for Belgrade Airport (AERO), by the end of this year, Serbian Minister of finance, Sinisa Mali stated. According to him, after the payment, the government will disclose concession agreement. According to the agreement, Vinci will pay EUR 501m as a one-off item, while annual concession fee will range from 4.4 to EUR 15m. Agreement was expected to be publicly available this month, but it will be delayed.
China's Zijin offers $1.4 bln for owner of high-grade copper-gold project in Serbia
China's Zijin Mining Group has offered $1.41 billion (1.2 billion euro) to acquire Canada-based base metals company Nevsun Resources, which runs the Timok copper-gold project in Serbia, Nevsun said on Wednesday. Nevsun Resources and Zijin Mining Group today announced that the parties have entered into a definitive agreement pursuant to which Zijin will make a take-over bid to acquire all of the issued and outstanding shares of Nevsun for C$6.00 per share in cash, Nevsun said in a statement published on its website.
KMBN: EGM to decide on changes ta Management Board
Komercijalna Banka (KMBN) scheduled its EGM for 24th September this year, the bank reported at BSE web site. The single decision is related to changes at Management Board the same statement says.
Source: Belex, Ilirika
Croatian Uljanik's share price slumps after loss of four deals
The share price of Croatia's financially burdened shipbuilder Uljanik (ZSE:ULJN), the parent company of the Uljanik Group, fell drastically on Tuesday, after the company announced its bank account has been frozen following the loss of four vessel construction deals. Uljanik's share price was down 56.47% at 2.22 kuna ($0.35/0.30 euro).
Nasdaq and S&P 500 fall as Netflix leads steep tech sell-off, Europe slumps by the close amid heightened trade tensions, tech sector drops 3%
A sharp sell-off in tech pushed the Nasdaq Composite and S&P 500 lower on Wednesday. Investors also braced for another round of trade negotiations between the U.S. and Canada. The tech-heavy Nasdaq Composite dropped 1.2 percent — its worst day since Aug. 15 — to 7,995.17 as Facebook, Amazon, Netflix and Alphabet all dropped. Shares of Microsoft and Twitter also fell to drag the index lower. The S&P 500 declined 0.3 percent to 2,888.60 with tech pulling back 1.5 percent. Dow was nearly flat.
Tech shares fell as Twitter CEO Jack Dorsey and Facebook COO Sheryl Sandberg testified in front of Congress, addressing online election meddling and how to stop abuse on social platforms.
The Justice Department said Attorney General Jeff Sessions will meet with state attorneys general later in September to discuss worries surrounding tech companies that "may be hurting competition and intentionally stifling the free exchange of ideas on their platforms."
Netflix shares dropped 6.2 percent, while Amazon and Microsoft both fell more than 2 percent. Shares of Facebook and Twitter dropped 2.3 percent and 6.1 percent, respectively.European stocks finished Wednesday's session deep in the red, as renewed concerns over international trade conflicts hampered investors' appetite for riskier assets. The pan-European STOXX 600 extended losses in afternoon trade, tumbling 1.09 percent by the close. All sectors except banks ended in negative territory. A number of Italian banks shot to the top of the pan-European benchmark, with Banco BPM closing up over 7 percent.
From the croporate side, German conglomerate Bayer fell on the back of an earnings announcement. The chemicals giant reported a 3.9 percent increase in second-quarter core earnings on Wednesday, as the addition of U.S. seeds maker Monsanto helped to offset weak consumer health care sales and unfavorable currency effects. Shares of the company however slipped 1.7 percent.