Bimal Brcko buys cooking oil producer Sunce Sombor
The Brcko-based company Bimal has bought the cooking oil producer Sunce from Sombor through its Belgrade-based company, reports the B&H-based website BiznisInfo. The purchaser is Bimal Invest Belgrade, owned by Bimal Brcko. Bimal is taking over Novo Sunce, founded on December 17, 2019, by Sunce Sombor. The agreement entails the transfer of Sunce's property to Novo Sunce prior to the takeover by Bimal. The letter of intent on the takeover was signed by Bimal Invest and Sunce in December 2018, and the arrangement was approved by the regulators in Serbia in February 2019. Under the agreement, Bimal acquires a 77% stake in the Sombor-based company.
China has major investment projects ready for Serbia
China has a package of at least 10 major infrastructure projects that is ready for Serbia and worth dozens, if not hundreds, of millions of dollars, Srpski telegraf reported at the weekend. According to the report, an investment into Ikarbus, which will make Serbia one of the first European countries to produce electric buses and electric vans, is just the beginning. The Chinese investments will be agreed in detail when the presidents of China and Serbia, Xi Jinping and Aleksandar Vucic, meet in Beijing at a global Belt and Road conference in late April, the paper said.
Average January net salary up 3.7 pct in real terms to RSD 54,521
Average Serbian gross salaries and wages calculated for January 2019 amounted to 75,296 dinars, while average net salaries and wages amounted to 54,521 dinars, the national statistical office RZS said in a statement Monday. Compared to the previous month, average gross salaries and wages increased by 4.3 pct in nominal terms, and by 3.9 pct in real terms, while average net salaries and wages increased by 4.1 pct in nominal terms and by 3.7 pct in real terms.
Dow rises after Trump’s Mueller win, but gain capped as economic fears persist, European stocks close lower amid growing recession worries
The Dow Jones Industrial Average eked out a small gain on Monday after news that the special counsel found no collusion with Russia on the part of President Donald Trump. However, gains in the broader market were capped as worries over the global economy lingered. The 30-stock Dow closed 14.51 higher at 25,516.83 as Boeing outperformed. The S&P 500 declined 0.1 percent to 2,798.36, led lower by the financials and tech sectors. The index also closed below 2,800 for the first time since March 12. The Nasdaq Composite also pulled back 0.1 percent to 7,637.54.
Apple shares fell 1.2 percent as the tech giant held an event in which it announced services such as a new news app, a video streaming platform, its own credit card and a bundle of video games.
Boeing shares climbed 2.3 percent after the company said pilots from U.S. carriers were testing a software update for its 737 Max jet, its best-selling plane.
European shares closed lower on Monday, amid rising fears of an impending U.S. recession and fresh uncertainty around Brexit just days before Britain’s scheduled departure from the EU. The pan-European Stoxx 600 was provisionally 0.42 percent lower by the end of the session, with most sectors and all major bourses in the red.
Bayer, meanwhile, saw its shares fall almost 3 percent after a downgrade from Bank of America Merrill Lynch. The pharmaceutical firm’s chief executive recently said its supervisory board continues to support management, after a U.S. jury ruled against the company in a trial over its Roundup weed killer.