Construction sector in Serbia marks growth of 25% in 1H 2018
The growth of the value of the construction works executed in Serbia in the first half of the current year amounts to 25%, considerably exceeding the growth rates in other sectors that have contributed to the growth of the gross domestic product (GDP) of 4.5%, the Ministry of Construction, Transport and Infrastructure announced today. After the growth of construction works of 28.1% realized in the first quarter of 2018, the growth of 23.1% was recorded in the second quarter – the press release says.
PPF Group authorized to acquire Telenor Bank
The Commission for Protection of Competition of Serbia has announced that it has authorized PPF Group to acquire Telenor Bank, a member of Telenor Group. As the Commission says, Telenor Bank became a member of Telenor Group in 2013, following the acquisition of KBC Bank in Serbia. PPF is the biggest investment group in Central and Eastern Europe, which invests in various sectors, such as banking and financial services, telecommunications, real estate and biotechnology, and it operates in 22 countries on three continents and owns property worth over EUR 38 billion.
First installment of property tax to be paid in August in the future? – Law amendments envisage abolition of payment based on previous-year decisions
Property tax payers are looking at the third installment on August 15, and it remains to be seen how these payments will be made next year. One of the changes sure to interest citizens who own real estate is that payments made on February 15 and May 15 each year based on decision adopted by municipal tax administration, which are in turn based on prices of real estate per zone, that is, sales prices from the previous year, are to be abolished.
Government of Montenegro soon to offer Podgorica and Tivat airports up for concession
The Government of Montenegro has decided to offer Montenegrin airports up for concession, and the invitation will soon be published on the government's website. This was announced for Vijesti by Minister of Transport Osman Nurkovic. The plan is to offer Podgorica and Tivat airports up for concession for a period of 25 to 30 years. Most airports in the neighborhood have been put under concession, from Ljubljana, through Zagreb, to Skopje, and the Belgrade Nikola Tesla Airport signed one such agreement this spring, the newspaper reports.
S&P 500 climbs to less than 1% from new record as Tesla, Amazon rise, European markets close higher amid earnings, Commerzbank slips 1.5%
Stocks rose on Tuesday as the S&P 500 moved closer to a record high set earlier this year, boosted by strong corporate earnings that offset worries around global trade. The S&P 500 rose 0.4 percent to 2,861.22 with energy and financials outperforming. The Dow Jones Industrial Average gained 156 points as Caterpillar climbed more than 2 percent. The Nasdaq Composite advanced 0.4 percent as Alphabet rose 1.7 percent.
Tesla CEO Elon Musk said in a blog post that he wants to take the company private, in what would be the largest deal of its kind, but a final decision has not been made. Tesla shares reopened Tuesday up more than 10 percent after being halted for more than an hour.
European stocks closed higher Tuesday afternoon as investors monitored global trade tensions and the latest batch of corporate earnings. The pan-European Stoxx 600 closed 0.6 percent higher with all major bourses and most sectors in positive territory.
Europe's autos stocks were also among the top performers, ending the session 1 percent higher thanks to earnings news. German auto supplier Schaeffler reported a rise in first-half net profit and increased its 2018 revenue guidance for its industrial division. Shares of Schaeffler pushed higher during Tuesday's trade to close 8.3 percent higher, topping the Stoxx 600.
Commerzbank posted stronger-than-anticipated net profit in the second quarter on Tuesday. But the lender warned of higher costs to its corporate clients this year amid "intense competition." It was the poorest performing bank in the sector, with shares ending the session 1.5 percent below the flat line.