Serbian retail space market to transform and stabilize afterwards
CBS International's Regional director of retail sector, Jelena Radulovic says that the new global trends in the retail space industry are presented this year as well. The situation in the retail sector is very dynamic and with the new projects already in progress, this market segment is expected to enter the phase of transformation and then stabilization. The first NEPI Group shopping center has been recently opened in Novi Sad, and Belgrade has shown the need for new shopping centers as well. In the forthcoming years we are expecting the opening of Ada Mall, MPC is developing a new project in Zvezdara, while BW Gallery and Delta project in Autokomanda are interesting for everyone in the retail sector – concludes Jelena Radulovic.
Fiat Serbia gets opportunity for new model
Fiat Chrysler Automobiles Serbia has confirmed its “silver status” and received another two points, making it eligible for a new model next year. In the recently finished World Class Manufacturing program, the company confirmed its “silver status” and got another two points. As Glas Sumadije reports, they now have 68 points and are two points away from the golden status that the leading Fiat factories have.
JESV: Jedinstvo reduces operating loss by over 70%
Jedinstvo Sevojno (JESV), reported RSD 2.45bn in its non-consolidated sales for 9M18, up 15.4% y/y, probably due to higher amount of executed jobs. The company managed to reduce operating loss form RSD 122m to RSD 35m, which is a main reason for nearly doubled net profit at RSD 62m. The number however remain pretty low in absolute terms. Consolidated figures will probably follow the trend we see at non-consolidated level.
Source: Belex, Ilirika
Petrol's group net profit at EUR 69m in Jan-Sep, up 14% y/y
Energy group Petrol made EUR 68.8m in net profit in the fist nine months of the year, up 14% compared to the same period last year, as sales revenue rose by 18% to EUR 3.91bn. On the other hand, operating profit was slightly down, by 2%, to EUR 85.5m. Retail merchandise business is an increasingly important segment for the energy group, as revenue from the business rose by 11% to EUR 445.9m in the first nine months compared to the same period last year, follows from the financial statements published on Friday. The group sold 577,100 tonnes of oil products in South European markets, up 1% year-on-year, and 691,400 tonnes in EU markets, which is on a par with the first nine months of last year.
Dow plunges about 400 points as Apple, Amazon and Facebook fall, European markets close lower, Renault shares tumble near 9%
Stocks dropped sharply on Monday as the biggest and most popular technology stocks plunged. Facebook and Apple led the losses. The Dow Jones Industrial Average fell 395.78 points to 25,017.44. The S&P 500 dropped 1.7 percent to 2,690.73 as the technology sector pulled back 3.8 percent. The tech-heavy Nasdaq Composite lagged, falling 3 percent to close at 7,028.48 as Amazon dropped 5.1 percent.
Apple led tech shares lower after The Wall Street Journal reported the company has cut production orders for the new iPhones unveiled earlier this year. The company's stock fell nearly 4 percent and fell back into a bear market, down 20 percent from its 52-week high.
Facebook shares dropped 5.7 percent as the company was hit with more negative publicity regarding the fallout from its handling of the 2016 election and foreign influence on its platform. A WSJ report said Facebook CEO Mark Zuckerberg blamed COO Sheryl Sandberg for how the company handled the situation.
European stocks moved lower Monday, amid lingering uncertainty surrounding the U.K.'s future relationship with the European Union and an unfolding scandal in the auto sector. The pan-European Stoxx 600 finished provisionally down 0.74 percent with most sectors and major bourses in negative territory.
Renault slumped to the bottom of the index after Nissan said its Chairman, Carlos Ghosn, was under investigation for allegedly violating Japanese financial laws. Nissan shares had already ceased trading when the news broke but Renault shares — with Ghosn also being the CEO and chair of the French automaker — hit their lowest level in three years, falling 8.6 percent on Monday.