AERO: Belgrade Airport reported nearly flat 9M18 net profit
Belgrade Airport (AERO) reported RSD 2.77bn in its 9M18 net profit, up only 2.95, mainly on lower tax and better finical result. The company’s sales arrived at RSD 8bn, up 115, in line with expansion in traffic volume, while operating profit was up only 1.8% y/y, since increasing cost of salaries weighted on profit margin.
Source: Belex, Ilirika
Serbia still among top ten exporters of wheat and corn in the world
Serbia is still among the ten biggest exporters of wheat and corn in the world, as shown by an analysis of the Serbian Grain Association, prepared based on the data of the United States Department of Agriculture (USDA) for the 2014/15 – 2017/18 period. More precisely, it is seventh in the export of corn, whereas, in the export of wheat, it takes the tenth spot. Our country has maintained high yields of these cultures per hectare and is still second when it comes to wheat, right below the EU average, and fifth in corn. In the economic year 2018/19, Serbia is expected to export 2.7 million tons of corn, 1.7 million tons of wheat, 300,000 tons of soy, 137,000 tons of sunflowers and 130,000 tons of rapeseed – said Slavko Jovanovic.
Immofinanz buys retail parks in Slovenia, Serbia, Croatia for total 90.5 mln euro
Austrian real estate investor and developer Immofinanz Group has purchased eight retail parks in Slovenia, Serbia and Croatia for a total of 90.5 million euro ($102 million), the company said on Wednesday. The newly acquired properties are fully rented and generate an annual rental income of roughly 7.2 million euro, which represents a gross return of 8.0%, Immofinanz said in a statement.
Action plan for joint presentation of Serbia and Slovenia in third markets to be prepared soon –
Deputy Prime Minister and Minister of Trade, Tourism and Telecommunications of Serbia Rasim Ljajic talked to Minister of Economic Development and Technology of Slovenia Zdravko Pocivalsek about the further enhancement of economic relations of the two countries on Tuesday, November 14, the Government of the Republic of Serbia says in its press release. Ljajic and Pocivalsek agreed for representatives of the two ministries to prepare a detailed action plan for the joint presentation in third markets as soon as possible, with special focus on the markets of China, Vietnam and Africa. The action plan would aim to increase the export of Serbia and Slovenia to the said markets, as well as to attract tourists, especially Chinese ones, considering the new trends and habits of tourists to visit several countries in a single trip.
S&P 500 snaps 5-day losing streak as shares of Apple, JP Morgan gain, European stocks close 1.1 percent lower amid Brexit resignations, sterling tumbles
The major stock indexes snapped multiday losing steaks Thursday as J. P. Morgan Chase led banks higher and iPhone maker Apple rebounded after dipping into bear market territory earlier in the week. The Dow Jones Industrial Average erased a 200-point loss to finish the day up 208.77 points at 25,289.27. The S&P 500 rose more than 1 percent, while tech-heavy Nasdaq Composite added 1.7 percent to climb to 7,259.03 as Alphabet added 1.5 percent and Netflix gained 1.1 percent.
Financials were up on the day as J.P. Morgan buoyed the big banks higher after famed investor Warren Buffett's Berkshire Hathaway disclosed a new $4 billion stake in the company.
Walmart's missed on revenue estimates in the third quarter, contributing to a 1.9 percent drop in shares. Though the company reported strong e-commerce sales and raised full-year guidance, the sales miss and news that Buffett dissolved his stake in the company weighed on the stock.
Losses in consumer discretionary stocks were exacerbated by home improvement retailer Home Depot, which fell 1.4 percent in the wake of disappointing earnings at a major homebuilder.
Cisco shares rallied 5.5 percent after the tech giant beat on both the top and bottom lines for the first fiscal quarter. The San Jose, California-based Cisco reported revenue rose 7.7 percent.
European stock indexes slipped on Thursday after U.K. Brexit minister Dominic Raab resigned from his post, piling yet more pressure on U.K. Prime Minister Theresa May. The pan-European Stoxx 600 ended provisionally down 1.11 percent, with all major indexes in the red amid the plunge for the pound.