Value of Serbia's nation brand grows by 17% to USD 40 billion
Serbia's nation brand has been evaluated at USD 40 billion, up by 17% compared to last year's USD 34 billion, according to the latest Nation Brands 2018 report published by the branded business valuation and strategy consultancy Brand Finance. Serbia has thereby climbed up one spot compared to 2017 and took the 80th place on the new list of countries valued as nation brands.
Lidl opens 16 stores in 12 towns in Serbia – EUR 205 million invested
Yesterday morning, at 8 o'clock sharp, 16 stores of the German discount retail chain Lidl opened in 12 towns of Serbia. The investment of the German company in Serbia has reached the amount of EUR 205 million. A total of 1,500 workers have been employed, and of the 1,500 articles on Lidl's shelves, 350 are made in Serbia.
NBS FX reserves in September at EUR 11.1bn
NBS FX reserves stood at EUR 11.1bn at end-September, down by EUR 153.2 mn from end-August. This level of FX reserves covered 191% of money supply (M1) or around six months’ worth of the country’s imports of goods and services (almost twice the level prescribed by the standard on the adequate level of coverage of the imports of goods and services by FX reserves). The September reduction in FX reserves fully reflects the government’s effort – in an environment of solid fiscal results – to scale down its FX liabilities (EUR 193.7 mn net) on account of loans and securities, which contributes to a further reduction in public debt and improvement of its currency structure.
Serbian delegation at annual meetings of IMF and World Bank Group
The delegation of the Republic of Serbia, led by Governor Jorgovanka Tabaković, NBS Governor and Governor of the IMF for Serbia, will attend the Annual Meetings of the IMF and World Bank Group (8–16 October) in Bali, Indonesia. The Serbian delegation, consisting of representatives of the NBS and Ministry of Finance, will take part in the Meetings from 10 to 15 October. The topics on the agenda include global economic trends and outlook, developments in global financial markets and key challenges to economic policies. A special focus will be placed on digitisation and new technologies, and their timely application and continuous development, aimed at long-term sustainable economic growth.
Dow tumbles over 500 points, bringing 2-day losses to more than 1,300 points, European stocks slump again as renewed Wall Street sell-off provokes volatile session
Stocks fell sharply on Thursday in a second straight scary day on Wall Street as investors dumped equities around the globe because of fears of rapidly rising interest rates, a possible global economic slowdown and overly ambitious tech valuations.The Dow Jones Industrial Average closed 545.91 points lower at 25,052.83, bringing its two-day losses to more than 1,300 points. The S&P 500 dropped 2.1 percent to 2,728.37 and posted its sixth straight decline. The broad index also closed below its 200-day moving average for the first time since April. The Nasdaq Composite pulled back 1.3 percent to 7,329.06 and briefly entered correction territory at its lows on Thursday.
European markets closed sharply lower on Thursday, impacted by steep losses in U.S. stocks. The pan-European Stoxx 600 closed the session provisionally down by 1.95 percent, with financial services and oil and gas stocks leading the losses.
Shares in Germany's Dialog Semiconductor rose 16.58 percent sit atop the Stoxx 600 index on Thursday. The company's shares soared after it announced a new $600 million deal with Apple.