No reason for the government to question the decision of Telekom on the purchase of Kopernikus
Serbian Prime Minister Ana Brnabic stated that the Government of Serbia could question the decision of Telekom on the takeover of Kopernikus, but that she didn't see why it would do so. In early November 2018, Telekom Srbija bought the cable operator Kopernikus Technology for a little under EUR 200 million. Responding to comments made by experts saying that the price is to high, Telekom said that Kopernikus had been bought under market terms and prices and that the transaction was partially funded from their own assets and partially through a credit arrangement, under extremely favorable market conditions.
Germany's DSD Noell to reconstruct Serbia's Djerdap 1 HPP ship locks
Serbia has picked a consortium led by German company DSD Noell for the reconstruction of the ship locks of Djerdap 1 hydropower plant (HPP), the country's infrastructure ministry said on Wednesday. DSD Noell, in a consortium with Serbian companies Feromont and Elektromontaza, will carry out the reconstruction works, the infrastructure ministry said in a statement. The Serbian government plans to invest 27 million euro ($30.6 million) in the reconstruction of the locks of Djerdap 1, the ministry said.
Trade between Italy and Serbia could reach 4bln euro by year end
The trade between Serbia and Italy could reach a record value of four billion euro by the end of the year – says Italian Ambassador to Serbia, Carlo Lo Cascio. He added that Italy was continuing to implement more ambitious investment programmes and re-investments in the Serbian economy. The value of the investments made by 400 Italian companies operating in Serbia, which employ around 25,000 people, is between 2.5 and 3 billion euro, the Ambassador said, adding that Italian companies have been frequently opening their production plants in Serbia.
Al Dahra given official approval to take over PKB
The Serbian Commission for Protection of Competition has approved the takeover of PKB and its three subsidiaries – Eko Lab, PKB Agroekonomika and Veterinarska Stanica PKB – by the UAE-based company Al Dahra Agriculture. The Commission’s website states that, in examining the effects of the competition concentration and based on the data available and the data filed by the applicant, the Commission has assessed that the concentration will not jeopardize or break competition rules in Serbia
NYSE closed; European stocks fall more than 1 percent amid rising trade war fears
As the nation remembers George Herbert Walker Bush, the New York Stock Exchange and Nasdaq are closed Wednesday. European stocks posted sharp losses on Wednesday afternoon, as resurgent trade worries worsened investor fears about global economic growth. The pan-European Stoxx 600 slipped 1 percent during deals, with the majority of regional sectors trading in negative territory. All major bourses were sharply lower. Europe's construction and material stocks were among the worst performers, down more than 1.75 percent amid growing trade war concerns. France's Saint-Gobain sank over 3 percent after J.P. Morgan cut its stock recommendation to "neutral" from "overweight." Another industry to lead the losses was insurance, which was down 1.75 percent.