NBS: Non-performing loans reduced to 6.5%
The governor of the National Bank of Serbia, Jorgovanka Tabakovic, stated that the share of non-performing loans in the total number of loans approved in Serbia amounted to only 6.5% in August, which is a considerable reduction. Their level is down by 16 percentage points compared to when we started implementing the strategy for resolving NPLs with the support of the IMF Mission – Tabakovic said at the joint press conference with Finance Minister Sinisa Mali and representative of the IMF team.
IMF: Serbia's GDP growth higher than predicted, public dbet goes below 55% of GDP
The mission of the IMF stated that it expected Serbia's real GDP growth to be 4.2 percent this year and 3.5 percent in 2019. It was pointed out that total inflation in Serbia increased to 2.6 percent in August and that it was expected to stay around the middle of the three-percent target band during 2018 and 2019. According to estimates, the general level of the state would register a surplus in the amount of 0.6 percent of GDP, with the higher than expected execution of capital spending. The public debt should fall under 55 percent of GDP by the end of the year, while yields on state securities have stabilized at levels close to historic minimums. Considering the positive fiscal results, the government abolished the temporary reduction of pensions, dating back to the crisis period, which will come into effect in November 2018, while making sure that the overall share of pensions in GDP does not increase, Roaf said.
Telekom Srbija not welcome to Albania?
To the Albanian government, it is not acceptable for the Telekom Srbija to become the owner of Telekom Albania, due to potential political reactions, as reported by Albanian TV Top Channel. TV Top Channel learns that Telekom Srbija has offered EUR 60 million, which is considered the best offer. Detailed information will be announced in due time, and the offer of Telekom Srbija is currently being considered.
Serbia is ranked first in the world by estimated jobs per million inhabitants
According to 11th edition of IBM's annual Global Locations Trends 2017 report, Serbia ranks first in terms of job openings per capita, along with India and Ireland, and is one of the most attractive destinations for investments witch create a lot of new jobs. With economic prospects improving in many parts of the world in 2016, global foreign direct investment (FDI) levels increased significantly, by approximately 10 percent measured by the number of jobs created, the report says.
S&P 500 posts worst week in nearly a month as rates pop, Europe ends in the red, as miners, US jobs data weigh
Stocks fell on Friday after the release of mixed employment data jolted interest rates higher. The S&P 500 closed 0.6 percent lower at 2,885.57 as the tech sector underperformed. The broad index also fell nearly 1 percent this week, posting its worst weekly performance since the week of Sept. 7. The Dow Jones Industrial Average dropped 180.43 points to 26,447.05 as Intel and Caterpillar lagged. It also notched its second straight weekly decline. The Nasdaq Composite pulled back 1.2 percent to 7,788.45 as Amazon, Apple, Netflix and Alphabet all traded lower.
The U.S. economy added 134,000 in September, well below the expected gain of 185,000. However, the U.S. unemployment rate fell to its lowest level since 1969. Job gains for August also received a sharp upward revision to an addition of 270,000 jobs from 201,000. Wages, meanwhile, grew by 2.8 percent last month on a year-over-year basis to match expectations.
Europe finished Friday's session on a negative note as investors digested the latest jobs report out of the U.S., while monitoring moves in the bond markets.
The pan-European Stoxx 600 closed down 0.86 percent, with all sectors closing around the flatline or in the red. Technology and basic resources tanked more than 2 percent each as a sector. On the week, the Stoxx 600 tumbled 1.77 percent.
Looking at individual stocks, Denmark's Danske Bank sank near to the bottom of the European benchmark on Friday, finishing down 6.24 percent, off its session lows. The move comes after Credit Suisse cut its rating to "neutral" from "outperform" and following recent news that it faces a U.S. criminal investigation into a 200 billion euro ($230.1 billion) money laundering scandal at its Estonian branch. Denmark's biggest bank has lost a third of its value so far this year.
Unilever ended the session slightly under pressure after the consumer goods firm announced that its board had withdrawn its proposal to relocate to the Netherlands, following a growing wave of opposition from U.K. shareholders.