Russian bank's loan to Serbia's state-owned telcom
Sberbank Srbija and Telekom Srbija have a memorandum of cooperation, within the framework of the visit of President Vladimir Putin to Serbia. The announcement was made by the Russian bank. The memorandum was initiated with a contract signed by the two companies in December 2018. Sberbank Serbia is one of the banks that participated in the lending to Telekom. Sberbank Group participated in this loan with 77 million euros, of which Sberbank Srbija's participation was 25 million euros. This investment is part of the Telekom's broader "Million Plus" campaign, implemented in order to reach over million subscribers to its internet and multimedia services.
Brauerei Group Belgrade becomes owner of Valjevska Pivara
Belgrade-based Brauerei Group is the purchaser of Valjevska Pivara. On Tuesday, January 15, at the session of the commission of the Ministry of Economy, which had opened the public call for the sale of the capital of the oldest business entity in the town on the Kolubara, the envelope containing the monetary offer was opened, upon which it was determined that the offer met the requirements. According to unofficial information available to Politika, the company’s offer is about a hundred euros higher than the initial price, which amounted to EUR 3,523,630 in dinar countervalue. The company is the sole bidder.
Brnabic says Serbian steel production safe
Brnabic says Serbian steel production safe Izvor: Printscreen
Serbian Prime Minister Ana Brnabic said on Wednesday that Serbia’s economy and the Chinese-owned steel mill in Smederevo will be completely safe following a decision on quotas for the import of steel into the European Union. “We have political guarantees that Serbia will not be negatively affected by these quotas. That is part of the Stabilization and Association Agreement with the EU,” she told reporters in Belgrade, adding that her government has been talking to the EU about the quotas for the past four months. Brnabic said that Serbia will not be assigned quotas in one of the three steel production categories and would probably get quotas for the other two categories which it can raise.
Bulgarian company to buy Telekom Albania for EUR 50 million – Telekom Srbija gives better offer
The Bulgarian company Albania Telecom Invest AD will buy the Albanian company Telekom Albania Sh.A. from the Greek telecom company OTE. Telecom Invest AD is controlled by Spas Roussev, controlling shareholder of the Bulgarian incumbent telecom operator Vivacom, and by Elvin Guri, an Albanian-Bulgarian Investor, announced Deutsche Telekom, which owns the Albanian company through OTE. Among other companies, Telekom Srbija was also interested in purchasing the second biggest mobile phone operator in Albania.
Stocks rise after report says US considering easing China tariffs during negotiations, European markets close flat after May survives no-confidence vote, ITV shares dive 6%
Stocks rose on Thursday on the back of a report that said the U.S. could ease tariffs on Chinese goods during their trade negotiations with China. The report sent stocks to their highs of the day, with the Dow Jones Industrial Average rising more than 250 points. The S&P 500 and Nasdaq Composite both rose about 1 percent following the report. The Dow closed up 163 points, lifting itself out of correction territory. The S&P 500 ended the day up 0.76 percent while the Nasdaq climbed 0.7 percent.
Morgan Stanley reported earnings and revenue that fell short of Wall Street estimates. The company’s results were dragged down by poor performances in its trading and wealth management businesses. Morgan Stanley shares fell 4 percent.
Netflix posted mixed fourth-quarter earnings results Thursday, sending shares down roughly 2 percent in extended trading. It beats on subscriber growth, but misses slightly on revenue
European stocks edged marginally higher Thursday afternoon, amid heightened political uncertainty in the U.K. and ongoing concerns over China’s cooling economy. The pan-European Stoxx 600 provisionally rose 0.06 percent by the close of trade but most major bourses struggled to leave negative territory.
Europe’s banking index was the worst performer Thursday, down 1.2 percent amid earnings news. French bank Societe Generale led the losses, shortly after it reported fourth-quarter results would be negatively impacted by tough market conditions. Shares of the Paris-listed stock slipped more than 6.1 percent on the news.
The figures published Thursday by the European Union’s statistics office show inflation has fallen away from the European Central Bank target of a rate below, but close to, 2 percent. That could complicate the central bank’s path for a possible interest rate hike over the coming months.