RSD 30 billion more for infrastructure in 2019 budget
The 2019 budget envisages a considerable increase in public investments – RSD 30 billion more for the realization of infrastructural projects. It also entails a reduction of the labor taxation through the abolition of contributions for unemployment insurance, paid by employers, thereby reducing the tax on the average net salary from 63% to 62%.
Most subsidies in 2019 meant for agriculture – At least RSD 36.2 billion for agrarian sector
Most subsidies in 2019 are planned for the Ministry of Agriculture, Forestry and Water Management in the amount of no less than RSD 36.2 billion, as per the Budget Preparation Guidelines published by the Ministry of Finance. In planning subsidy funds and their purposes, all regulations regarding state aid need to be taken into consideration – says the document. When it comes to subsidies for the economy, the amount of RSD 17.59 billion is planned.
Kopernikus bought for around EUR 200 million?
Telekom Srbija has bought Kopernikus Technology for around EUR 200 million, which is EUR 1,000 per user, as this local internet and TV distributor has 200,000 users, reported the Balkan Investigative Reporting Network (BIRN). Telekom Srbija, which bought a 100% stake in Kopernikus yesterday, didn't disclose the price of the transaction. The Commission for Protection of Competition of Serbia has confirmed that it has approved the takeover of the second biggest cable operator in Serbia by Telekom.
ENHL: Energoprojekt contracted RSD 711m worth job in Serbia
Energoprojekt (ENHL) reported new contract from Serbia, valued at RSD 711m. This is about reconstruction of Karadjorjdeva Street in Belgrade and Sava river quay. The project should be executed over 425 days. The company acts in a consortium, which incorporates domestic Bauwesen and French Colas Rails.
Source: Belex, Ilirika
Dow rises more than 170 points as Wall Street awaits midterm election results, European markets close lower amid political uncertainty
Stocks rose on Tuesday as investors eagerly awaited the results of much-anticipated midterm elections which could have significant implications for investors. The Dow Jones Industrial Average climbed 173.31 points to 25,635.01, led by gains in IBM and Caterpillar. The S&P 500 gained 0.6 percent to close at 2,755.45. The Nasdaq Composite advanced 0.6 percent to 7,375.96. All three of the major indexes reached their session highs less than 10 minutes before the close.
Investors also looked ahead to the Federal Reserve's latest decision on monetary policy, which is scheduled for Thursday. The Fed is largely expected to keep rates unchanged, but investors will pore through the statement for clues about the central bank's December meeting.
Stocks in Europe turned lower on Tuesday as investors tried to navigate through different sources of political uncertainty. By mid-afternoon, the pan-European Stoxx 600 closed provisionally 0.2 percent lower with most sectors struggling to make gains. Retail, Basic Resources, and Telecoms were among the worst performers.
In the retail world, earnings were at the fore. WM Morrison fell 4.5 percent after reporting lower sales growth in the last quarter. The Berlin-based fashion retailer Zalando registered its slowest sales rate since it was launched 10 years ago. Shares dropped 8.4 percent as a result.
Swiss recruitment firm Adecco and German postal firm Deutsche Post made their way into the best performing stocks Tuesday morning after reporting third-quarter results.