EC representative impressed with fiscal consolidation in Serbia, believes rule of law should be worked on
Director-General for European Neighborhood Policy and Enlargement Negotiations Christian Danielsson said at the Kopaonik Business Forum that fiscal consolidation in Serbia was impressive, but that the country should also work on the rule of law. The fiscal consolidation is impressive, the budget deficit has been transformed into a surplus and the public debt is being reduced. I am impressed, but a way should be found for reforms to be enhanced and for the gray economy to be reduced – Danielsson said.
Al Dahra to invest EUR 15 million in PKB by end-April
The General Manager of Al Dahra, Vojin Lazarevic, said that the company would invest EUR 15 million in PKB by March of April, which is half of the investment planned in the next three years. Lazarevic told Tanjug that, under the agreement Al Dahra has with the Government of Serbia, the company should invest EUR 30 million in the next three years and that now, half a year from the purchase, it would invest 50% of that amount.
ENHL: Energoprojket contracted EUR 10.2m job in Russia
Construction company, Energoprojket (ENHL) reported EUR 10.2m new job in Russia, which is contracted by its daughter unit Energoprojket Visokogradnja. This is about installing and construction works at congress hall of Hyatt hotel from Rostov at Don. Completion deadline is 9 months.
Source: Belex ,Ilirika
Serbia wants stake in the future Belene Nuclear Power Plant
Bulgarian Deputy PM Tomislav Donchev has told Sofia-based Trud daily that "(Northern) Macedonia and Serbia want stakes in the future Belene Nuclear Power Plant." There is "no chance of the Belene NPP being constructed without involvement of Russia's Rosatom," the Bulgarian news agency BTA quoted him as saying. According to information available on the Internet, Bulgaria plans to build the plant in its northern region, near the Danube River, to replace reactors at the Kozloduy NPP, decommissioned to comply with EU accession requirements.
Stocks post 3-day losing streak as Wall Street looks for more clues on US-China trade, Europe markets lower as US trade deficit jumps to decade high
Stocks fell on Wednesday, with the major indexes posting their third consecutive decline, as investors took a breather following sharp gains this year. Wall Street also sought further indications that a trade deal between China and the U.S. could be reached in the near future. The Dow Jones Industrial Average pulled back 133.17 points to 25,673.46 as Walgreens Boots Alliance lagged. The S&P 500 fell 0.65 percent to 2,771.45, led by declines in the energy and health care sectors. The Nasdaq Composite declined 0.9 percent to 7,505.92, notching its first three-day losing streak of the year.
Investors also digested key economic data on Wednesday. ADP and Moody's Analytics said private payrolls rose by 183,000 in February. Economists polled by Dow Jones had forecast a gain of 185,000. January payrolls were revised higher by 87,000 to 300,000.
General Electric shares fell more than 7.5 percent after J.P. Morgan analyst Stephen Tusa said in a note the company's stock is overvalued given the hurdles it faces over the next two years. Tusa kept his price target at $6 per share, noting that "looks generous" at this time.
Stocks in Europe lost momentum on Wednesday afternoon as data showed the U.S. trade deficit jumped to a 10-year high in 2018. The pan-European Stoxx 600 ended the session provisionally lower 0.06 percent with sectors in mixed territory. Stocks in the Basic Resources basket was the best performing sector, up almost 1 percent, while autos led the losses amid continued trade tensions.
In corporate news, packager DS Smith was among the top performers, up by 3.7 percent. The company said that it's to sell its plastics business for $585 million, according to Reuters.