EBRD considering loaning up to EUR 100 million to Belgrade Airport concessionaire
The European Bank for Reconstruction and Development is considering loaning up to EUR 100 million to the concessionaire of the Belgrade Nikola Tesla Airport, EBRD Director for Transport Sue Barrett said today. The EBRD is currently considering a loan of up to EUR 100 million for the concessionaire at the Belgrade Airport, this year. These loans will bring the total amount of loans approved by the EBRD for the transport sector in Serbia to one billion euros – Barrett said at the Serbian Railways at the signing of the agreement on the guarantee for the Project of the Technical-Passenger Station Zemun – Phase 2, worth EUR 22 million.
IMF increases Serbia's 2018 GDP growth forecast to 4.0%
The International Monetary Fund (IMF) expects Serbia’s economy to expand by a real 4.0% in 2018, up from a growth rate of 3.5% projected in April, the fund said on Tuesday. Serbia's gross domestic product (GDP) is expected to grow 3.5% in 2019, the IMF said in its October 2018 World Economic Outlook report. According to the IMF, Serbia saw economic growth of 1.9% in 2017.
Serbia among top three countries in Europe in number of online workers
An increasing number of young, highly educated people in Serbia have found employment in the digital market. It is estimated that, in our region, there are as many as 20,000 workers who earn their income via the Internet. They mainly provide services in information technology, software and creative industries, namely they create websites, maintain social networks, translate, teach, write. According to last year’s online work index and the data collated by the World Bank, Serbia is among the top 20 countries in the world judging by the number of online workers. Some studies even show that, along with Ukraine and Romania, Serbia ranks among the top three countries of Europe in terms of the number of people doing digital work.
Slovenian lender NLB submits registration document for IPO
Slovenia's state-owned lender Nova Ljubljanska banka (NLB) announced on Monday the publication of a registration document related to its potential intention to float on the Ljubljana Stock Exchange (LJSE) and the London Stock Exchange (LSE). The announcement of publication of the registration document has been submitted to Info Storage, the officially appointed mechanism for the central storage of regulated information in Slovenia, NLB said in a statement posted on the website of the LJSE.
S&P 500 notches 4-day losing streak in volatile session as rates hit multiyear highs, European stocks close higher despite Italy budget tensions
Stocks fell Tuesday after a choppy session as investors grappled with rising U.S. interest rates. The S&P 500 dipped 0.1 percent to 2,880.34 as a decline in PPG Industries led the materials sector lower. The broad index also closed lower for the fourth straight day. The Dow Jones Industrial Average closed 56.21 points lower at 26,430.57, with DowDuPont and United Technologies underperforming. The Nasdaq Composite rose slightly to 7,738.02 to snap a three-day losing streak, however, as gains in major tech shares kept losses in check.
Higher rates and expectations of tighter monetary policy are a drag on stock markets, given that they cap companies' profits, thus restricting possible dividends to investors and higher pay for the employees. European stocks moved higher Tuesday afternoon, despite ongoing tensions between Italy and the European Union (EU) over Rome's budget spending plans. The pan-European Stoxx 600 provisionally finished up 0.26 percent during afternoon deals, with most sectors and major bourses in negative territory.
Looking at other individual stocks, German fintech company Wirecard rose 9.6 percent on Tuesday. It came after the firm forecast core profits to grow sixfold by the middle of the next decade, on the back of a global boom in e-commerce and digital payments. Meanwhile, Britain's Sage tumbled towards the bottom of the index on Tuesday, down nearly 1.5 percent after Barclays slashed its stock recommendation to "underweight" from "equal weight."