Dinar second-best performing currency in the world over the last 12 months
Last month, the Serbian dinar touched the strongest level against the euro in more than three years, making it the second-best performing currency in the world over the last 12 months, Bloomberg estimates. The National Bank of Serbia (NBS) surprised with its third unexpected interest-rate cut in seven months on Wednesday, a further reason, Bloomberg estimates, for investor optimism over local-currency bonds that have outperformed all of their regional peers this year. The New York-based agency says that Serbia is going against the tide of a gradual shift toward policy tightening across most of the continent. The Balkan country has little need for rate hikes any time soon, with inflation slowing to the bottom of the central bank’s target range in February and continued appreciation in the dinar.
Government of Serbia adopts decision on expropriation of land – Construction of wind farm in Kostolac planned
The Government of Serbia has adopted a decision on the public interest for the expropriation of land in Kostolac for the purpose of the construction of a wind farm. As said, the object of the expropriation are the land and the facilities located on it, and in addition to wind generators, the entire accompanying infrastructure will be built on this piece of land, namely, a 35/110 kV substation with a management building and open areas, internal underground cable network connecting the wind generators to the substation, a 110 kV switchgear with a management building, connection portals and open areas.
AERO: Belgrade airport gets 182 million-euro upgrade package
The International Finance Corporation (IFC), a member of the World Bank Group, is providing a 182 million-euro financing package to the new private concessionaire of Belgrade Nikola Tesla Airport, VINCI Airports Serbia, a subsidiary of VINCI Airports SAS. The concessionaire will develop and upgrade Belgrade’s Nikola Tesla Airport, to boost Serbia’s tourism and transport industry and encourage economic growth. VINCI Airports SAS, one of the largest airport operators in the world and a member of France’s VINCI SA group, was awarded the concession to develop the airport in January, following a competitive public tender. The 25-year contract includes financing the airport’s upgrading, expansion, operation and maintenance and is expected to almost triple its passenger capacity by the end of the concession. IFC’s financing package comprises a direct 72 million-euro A loan and a 110 million-euro B loan under IFC’s syndication umbrella.
Source: Emerging Europe
Twenty companies eye concession of Montenegro’s Podgorica, Tivat airports
A total of 20 companies have expressed interest in obtaining a concession contract for the operation of Montenegro's two international airports - in Tivat and Podgorica, transport minister Osman Nurkovic said. Nurkovic said in August the government plans to invite bids for a concession agreement with a term of 25 to 30 years for the operation of Tivat and Podgorica airports. Montenegro hopes to find a company ready to invest at least 120 million euro ($141.2 million) in the two airports, prime minister Dusko Markovic said in September.
Dow closes more than 250 points higher in wild session, erases 600-point drop, Europe markets close sharply lower as global sell-off continues, German DAX down 2.4%,
Stocks closed higher on Thursday, adding to the massive gains from the previous session, after a strong surge in the final hours of trading. The Dow Jones Industrial Average ended the day up 260.37 points, or 1.1 percent, at 23,138.82. The S&P 500 closed 0.86 percent higher at 2,488.83 while the Nasdaq Composite climbed 0.4 percent to 6,579.49.
Earlier in the day, stocks fell amid renewed tensions between China and the United States. Reuters reported, citing three sources familiar with the situation, that President Donald Trump is considering an executive order to ban U.S. companies from using equipment built by Chinese firms Huawei and ZTE.
European markets erased early morning gains to close sharply lower Thursday afternoon, as market sentiment soured and a global sell-off in risk assets resumed. The pan-European Euro Stoxx 600 index closed down 1.75 percent provisionally, after a slightly higher start with markets in the region reopening after the Christmas holidays. Germany's DAX led the declines, down nearly 2.4 percent, and the Italian FTSE MIB slid 1.8 percent, as those markets missed out on heavy losses seen Monday when both were shut.
France's Vinci Airports announced it will buy a majority stake in London Gatwick for $3.7 billion, sending Vinci stocks 1 percent higher in early deals. The stock closed the day up just 0.14 percent.