SORS, NBS: Retail trade turnover in August, up 5.5% y/y
Y-o-y, retail trade turnover rose in August by 5.5% in real terms, SORS reported. In the period January–August, retail trade turnover went up by 3.7% relative to the same period a year earlier.
SROS, NBS: Telekom Srbija to acquire Telekom Albania?
B92.net has received confirmation that Serbia's majority state-owned telecommunications company, Telekom Srbija, is interested in acquiring Telekom Albania. This interest is in line with the Serbian operator's announced intention to expand its business in the region. "The goal of Telekom Srbija is to position itself as a regional leader in the field of telecommunications. We have submitted a bid and it is now under review," Telekom said without revealing any details. Telekom Albania is the second largest operator in Albania.
Trade between Serbia and Italy increases – New record of EUR 4 billion possible by end-year
Ambassador of Italy to Belgrade Carlo Lo Cascio met with representatives of over 80 Italian companies operating in Serbia on Friday, September 28, and pointed out that the trade between the two countries could reach and possibly exceed the record number of EUR 4 billion, the Italian embassy announced.
China's Shandong wins 33-year highway concession in Bosnia
China Shandong International Economic and Technical Cooperation Corp has won a concession to charge a toll on the highway it is constructing in Bosnia’s autonomous Serb Republic, the region’s government said on Monday. The 33-year deal will allow the company, part of Shandong Hi-Speed Group, to charge users of a 42 kilometer road it will build and fund at an estimated cost of 297 million euros to link the northwestern towns of Banja Luka and Prijedor.
Dow jumps more than 100 points after the US and Canada secure a deal to replace NAFTA, Europe ends on a slightly upbeat note after Canada secures trade deal with US, Mexico, Ryanair sinks 12.5%
Stocks rose on Monday as investors cheered news of Canada joining a trade deal with the United States and Mexico. The Dow Jones Industrial Average rose 142 points as Chevron and Boeing outperformed. The S&P 500 gained 0.2 percent, led gains in energy, materials and industrials. The Nasdaq Composite traded 0.3 percent lower, however, as declines in Facebook and Intel capped gains in tech.
Tesla shares surged more than 16.5 percent after CEO Elon Musk settled charges with the Securities and Exchange Commission over his recent aborted bid to take the firm private. As part of the settlement, Musk will relinquish his position as chairman of the board at Tesla for at least three years. Tesla and Musk will pay $20 million each.
Meanwhile, General Electric gained 6.4 percent after the company abruptly removed CEO John Flannery from his post and named Lawrence Culp as his successor.
European stocks posted slight gains by the Monday's close as investors digested news of a trade agreement between the U.S., Canada and Mexico. The pan-European Stoxx 600 closed up 0.20 percent, off its session highs, with sectors pointing in different directions by the close. The region was supported by a strong performance seen on Wall Street, as the first day of a new quarter kicked off.
In the corporate space, travel and leisure equities were some of the worst performers Monday following news that Ryanair had cut its full-year profit guidance. The stock sank 12.5 percent by the close, making it one of Europe's biggest losers. Other airlines were impacted by the news, with Easyjet down by 7 percent and Air-France-KLM dropping 4 percent.
German health firm Fresenius led Europe's gains, following a report that a Delaware judge ruled in its favor in a corporate dispute with Akorn. The judge's decision allows Fresenius to walk away from a $4.75 billion merger deal with the U.S. drugmaker. The stock surged 8.5 percent.
Linde was also one of the region's biggest gainers, closing up over 6 percent, after the group won regulatory approval from Chinese authorities to merge with Praxair.