NIIS: Gazprom Energy Holding and NIS to start building thermal power plant and heating plant in early 2019
As Politika writes in the issue of November 2, Gazprom Energy Holding, a subsidiary of Gazprom, will start building a power plant/heating plant, which will produce all energy from gas, in early 2019. The plan is for the works to be completed in the third quarter of 2020, and the plant will take up around two hectares. This is a joint project of Gazprom Energy Holding and Naftna Industrija Srbije, where the Russian partner will have a 51% stake, whereas the Serbian partner will own 49% of the project. A 100%-branch Srpska Generacija – Novi Sad – TE-TO Pancevo was founded for the purpose of project management.
Pay bands not before 2020 after all
The Government of Serbia has decided to postpone the implementation of two laws that were supposed to start being implemented on January 1, 2019. As announced in the Official Gazette, these are the Law on the Salary System in the Public Sector and the Law on Employees in Public Services. This practically means that the implementation of the regulations on pay bands is postponed until January 1, 2020.
Ministry of Finance: Serbian GDP growth to hit 4.2% in 2018 and 3.5% in 2019
Serbian economy is expected to reach 4.2% growth in 2018, while in 2019 it should be at 3.5%, Ministry of Finance reported. Initial projection for 2018 was 3.5% growth, which is now hiked to 4.2%, based on trends seen in the first half of the year and short term macro indicators, the statement says.
Source: RTV, Ilirika
Telekom Srbija acquires 100% stake in Kopernikus Technology
Telekom Srbija has officially acquired a 100 pct stake in Kopernikus Technology, Serbia's second-largest cable operator. The acquisition increases Telekom Srbija's television customer base by about 30 pct and its share in the television market by 7 pct, Serbia's largest telecommunications company said in a statement.
Dow rises nearly 200 points as Berkshire Hathaway jumps, but Apple drags down Nasdaq, Europe markets close mixed after early gains, oil and gas stocks jump, Vopak up 4.7%
Stocks mostly rose on Monday as Berkshire Hathaway boosted the broader financials sector, but a sharp decline in Apple dented tech shares. The Dow Jones Industrial Average rose 200 points, while the S&P 500 gained 0.6 percent. Berkshire Hathaway's Class B shares climbed 4.6 percent after the company reported over the weekend better-than-expected earnings.
The Dow also climbed as Chevron shares jumped nearly 4 percent to lead the energy sector higher. Chevron rose after Credit Suisse upgraded it to outperform from neutral, noting the company has a compelling free cash flow and valuation.
But the Nasdaq Composite fell 0.4 percent as Apple and Amazon both fell more than 2 percent. Apple shares fell after Rosenblatt Securities downgraded Apple amid expectations of lower iPhone sales. Amazon's stock pulled back after President Donald Trump said the administration was looking into antitrust violations committed by the e-commerce giant.
European stocks lacked an overall direction in late Monday trading, closing mixed as investors digested different political events. The pan-European Stoxx 600 closed down 0.09 percent provisionally, with the various sectors taking different directions. Technology was down by about 1.5 percent, whereas oil and gas stocks jumped by about the same amount.
Looking at individual stocks, Vopak rose 4.7 percent after reporting higher-than-expected results. Siemens health care also jumped 2.7 percent on its latest earnings release.
On the other hand, Italian banks were under pressure. Although they eased past the tests' adverse scenario requirements, analysts believe the macro assumptions for Italy were a little too optimistic. Banco BPM and Intesa Sanpaolo dropped about 2 and 1.6 percent, respectively.