EIB to invest EUR 100mln in Serbian healthcare, infrastructure and education
Serbian Finance Minister, Sinisa Mali met with the European Investment Bank (EIB) director for Slovenia, Croatia and the Western Balkans, Matteo Rivellini to discuss ongoing and future projects in Serbia supported by this financial institution. “The two parties discussed ongoing projects in the health care, education, infrastructure and environmental protection sectors that they agreed would greatly improve the quality of life of Serbian people,” the Finance Ministry said in a statement. They highlighted two new projects to be implemented with EIB support – funding for the first stage of the construction of a Nis-Plocnik-Merdare motorway segment (Nis-Plocnik MW), worth EUR 100 million, and a EUR 40 million project of reconstructing and building local infrastructure in areas along the migrant route, to be carried out by the Public Investment Management Office.
Construction activity 13.9% higher than in 2017
Compared to 2017, construction activity in the territory of Serbia has grown 13.9 pct since the beginning of last year, the national statistical office RZS said in a statement. In Q4 2018, the value of construction works performed in the territory of Serbia grew by 8.7 pct in current prices and by 3 pct in constant prices compared to the same period of the previous year.
ZTF to open factory in Pancevo in late April
Serbian President Aleksandar Vucic has announced that a large German company, ZTF, would open a factory in Pancevo in late April and employ more than 1,000 people. Vucic pointed out that the German company was one of the better car component manufacturers. He pointed out that Belgrade-Zrenjanin and Zrenjanin-Novi Sad highways would be built, whereby residents of Opovo will be provided with a better connection to Zrenjanin and Belgrade. He added that the construction of the highways would also help attract investors.
Belgrade lacks more than 100,000 square meters of residential space
There is a demand for 100,000 square meters of residential space more than offered at any moment in Belgrade, and everything built is immediately sold. The average price of apartments in 2018 was EUR 1,190 per square meters in old facilities and EUR 2,050 in new ones, an increase by 7% compared to 2017. Although this segment of the real estate market is very active, the real estate consulting company CBRE says that sales prices will remain stable in the upcoming period. The situation in the office space market is similar, with rent prices remaining unchanged in 2019. The increase in the construction will only impact the price of rent in retail.
Dow slips as Wall Street weighs US-China trade talks, European stocks close higher ahead of US-China trade talks, Italian banks gain
Stocks wobbled on Monday as investors weighed the possibility of the U.S. and China striking a deal to end the ongoing tariff war. The Dow Jones Industrial Average closed 53.22 points lower at 25,053.11, giving up an earlier gain of 90 points. The S&P 500 ended the day up less than 0.1 percent at 2,709.80 as gains in the industrials sector were capped by losses in health care and communications services. The Nasdaq Composite closed 0.1 percent higher at 7,307.90.
There is also a growing focus on a potential second government shutdown, given that Democrats and Republicans remain at odds over border policy. Trump tweeted this weekend "I actually believe they (Democrats) want a shutdown."
Tesla shares gained more than 2.3 percent after an analyst at Canaccord Genuity upgraded them to buy from hold. The analyst also hiked his price target to $450 a share from $330, implying a 47 percent upside over the next 12 months.
European stocks closed higher on Monday, with market participants looking ahead to a fresh round of U.S.-China trade talks this week. The pan-European Stoxx 600 closed provisionally up 0.88 percent, with all sectors and major bourses in positive territory.
Looking at individual stocks, Deutsche Post rose after a report suggested Germany could grant the postal services firm with a higher-than-anticipated increase in postage for letters from the summer. Shares of the postal service advanced over 2 percent.