ENHL: Works on bypass route around Zrenjanin and bridge on the Begej begin – Road to be completed by September 2019
The works on the completion of the bypass route around Zrenjanin and the bridge on the Begej began on Thursday, October 25, 2018, and their total value amounts to RSD 350 million (plus VAT), the Ministry of Economy announced. It is expected that 3.7 kilometers of the road will be completed by September 2019. Works will be performed by Energoprojekt’s consortium.
Serbia may see up to EUR 50bn of FDI until 2030
Serbia may receive up to EUR 50bn of FDI until 2030, Tanjug agency said, citing the source from research team that worked on a study called “Model of macro projections for testing the sustainability of public debt and growth rates”. According to the document, FDI currently participates with 6.2% in GDP of Serbia, but according to projection, this will drop to 6% until 2027 or 5.8% until 2030, due to growth of GDP.
Source: Tanjug, Ilirika
Average GDP growth rate in Serbia at 4.7% over the next 10 years
The next decade should bring an average GDP growth for Serbia at around 4.7%, domestic economists said. This is based on pro-investment scenario. According to the report, GDP should grow 4.1% this year, while in 2019 it may be slightly lower, just as IMF claimed, but in 2020 and onwards to 2030 the rate should stabilize in a range of 4-5%, in case of absence of external shocks, local press reported.
Source: Tanjug, Blic
Slovenia sets NLB price range at 51.5 - 66.0 euro/share ahead of IPO
Slovenia's government said on Friday it has set the price range in a public offering of the shares and the global depositary receipts (GDR) of Nova Ljubljanska Banka (NLB) on the bourses in Ljubljana and London at 51.5 euro to 66.0 euro per share and at 10.3 euro to 13.2 euro per GDR. The offer and subscription period commences at 9:00 CET on October 29 and is expected to end at 13:00 CET on November 7 for retail investors and at 13:00 CET on November 8 for institutional investors, the government said in a filling to the Ljubljana Stock Exchange.
Dow dives nearly 300 points, S&P 500 dips into correction levels in another wild day on Wall Street, European stocks close the week sharply lower
Stocks fell sharply on Friday as investors slogged through another volatile session on Wall Street. The Dow Jones Industrial Average closed 296.24 points lower at 24,688.31 after dropping 539 points at its lows of the day. The Nasdaq Composite dropped 2.1 percent to 7,167.21. At its lows, the tech-heavy Nasdaq had fallen more than 3 percent. The S&P 500 fell 1.7 percent to 2,658.69 and briefly entered into correction territory, trading more than 10 percent below its record high reached in September.
Among the driving forces for the market's sharp drop on Friday were disappointing earnings from key tech companies that overshadowed strong economic data.
Amazon fell 7.8 percent after the company released its latest quarterly results on Thursday. Alphabet shares, meanwhile, dropped as much as 5.6 percent before closing 1.8 percent lower. Earnings for both companies topped analyst estimates, but revenues fell short.
These declines were enough to offset a better-than-expected report on U.S. economic growth. The Commerce Department reported the U.S. economy grew at a 3.5 percent rate in the third quarter, above a 3.4 percent estimate.
European stocks closed lower Friday afternoon, tracking declines in U.S. stocks after tech titans Amazon and Google parent Alphabet Inc missed earnings expectations. The pan-European Stoxx 600 ended down 1.21 percent at the provisional close.
Looking at individual stocks, France's Valeo sank to the bottom of the benchmark, after the car parts company slashed its sales and earnings targets citing industry disruption. Shares of the Paris-listed stock tanked 21.83 percent on the news.