KMBN: Serbia's Komercijalna Banka estimates 2018 profit at 70 mln euro - CEO
Serbia's Komercijalna Banka has put its 2018 consolidated profit estimate at about 8.35 billion dinars ($80.3 million/70.6 million euro), CEO Vladimir Medan said. In 2018, the bank will record its highest profit for the last 10 years, having managed to reverse the trend of the last four years in which its market share decreased, Medan said in a video file posted on the website of news agency Tanjug on Sunday.
Germany writes off EUR 18.5 million of Serbia's debts
Serbian Finance Minister Sinisa Mali talked with German Ambassador to Serbia Thomas Schieb this Monday, January 21, 2019, about, as said, the successful cooperation of the two states, the increasing investments of German companies in Serbia, but also about Serbia's debt of EUR 18.5 million that Germany wrote off in December thanks to good performances and economic results. This is the debt within the Paris Club, the Ministry of Finance announced.
PKB pays tax debt of nearly RSD 720 million to Belgrade in December
Deputy Mayor of Belgrade Goran Vesic stated today that PKB had paid its main property tax debt to the City of Belgrade on December 14, 2018, Beoinfo reports. On December 14, PKB paid RSD 719,525,041.34 to the budget of the city – Vesic said. He reminded that the City of Belgrade and PKB had signed an agreement on the postponement of the payment of the remaining debt, amounting to RSD 198,920,081.16, pertaining to unpaid interest in line with the Law on Tax Procedure and Administration, on January 4.
NBS: Cash transfers from diaspora exceed EUR 3.1 billion
Cash transfers to Serbia from the diaspora exceeded 3.1 billion euros at the end of November 2018. This is 17.5 percent more y-o-y, Tanjug reported on Tuesday, citing the National Bank of Serbia (NBS). According to preliminary figures from the central bank, the transfers amounted to 3,173 million euros in the first 11 months of 2018.
Dow snaps 4-day winning streak as fears of an economic slowdown intensify, European markets slide close lower on global growth concerns, UBS shares fall 3% after earnings
Stocks fell on Tuesday, the first trading day of the week, as weak data out of China and lower global growth estimates from the International Monetary Fund renewed fears of the global economy slowing down. The Dow Jones Industrial Average dropped 301.87 points to 24,404.48, led by losses in Goldman Sachs and Caterpillar. The S&P 500 pulled back 1.4 percent to 2,632.90 as the communications services and industrials sectors lagged. The Nasdaq Composite declined 1.9 percent to close at 7,020.36. The major indexes also closed lower for the first time in five sessions. U.S. markets were closed on Monday due to the Martin Luther King Jr. Day holiday.
Shares of eBay jumped 6.1 percent after hedge fund Elliott Management revealed a $1.4 billion stake in the company. Elliott also sent extensive recommendations to the company’s management team.
European stock markets ended in negative territory on Tuesday amid concerns on slowing global growth. The pan-European Stoxx 600 Index came under renewed pressure in afternoon trade, closing provisionally down 0.41 percent with all major bourses falling into the red.
The bulk of sectors traded lower, with banks and miners both down over 1 percent. Looking closer at individual stocks, UBS shares sank by a little over 3 percent after fresh earnings on Tuesday missed estimates, as it noted outflows worth nearly $8 billion at its wealth management division.