Serbian unemployment rate "getting close to EU average"
This year, Serbia can get closer to the desired goal of the unemployment rate falling below ten percent. This is according to Zoran Martinovic, director of the National Employment Service (NSZ). The unemployment rate in the EU countries, according to the latest data, is about 6.7 percent. According to Martinovic, Serbia can approach the EU average, as the current rate of 11.3 percent is encouraging.
Final talks with Eurasian Union next week
The final free trade talks with the Eurasian Economic Union (EAEU) will begin next week. Serbian Minister of Trade, Tourism and Telecommunications Rasim Ljajic announced this on Thursday, Tanjug is reporting. Ljajic told TV PINK that he expected a free trade agreement with Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan to be concluded before Russian President Vladimir Putin's January 17 visit to Serbia.
Serbia to buy gold – NBS treasury has 20 tons of reserves
The National Bank of Serbia has more than 20 tons of gold reserves, stated Governor Jorgovanka Tabakovic. She said on TV Prva that she agreed with the suggestion made by the president of Serbia that the NBS should buy gold and that the bank was already doing so, pointing out that security is of utmost importance.
China's Zijin to raise 1 bln euro to buy owner of gold project in Serbia
China's Zijin Mining Group said it plans to raise up to 8 billion yuan ($1.16 billion/1.0 billion euro) for the acquisition of metals company Nevsun Resources, which runs the Timok copper-gold project in Serbia. Zijin plans to issue up to 3.4 billion Class A shares to finance the purchase of 100% of the capital of Nevsun, for a total of 9.36 billion yuan, the Chinese company said in a filing with the Hong Kong Stock Exchange on Wednesday.
Dow tumbles more than 600 points on Apple plunge, rising fears of an economic slowdown, European stocks close lower as Apple guidance weighs
U.S. stocks fell sharply on Thursday following a dire quarterly warning from Apple. The iPhone maker blamed a slowing Chinese economy for the shortfall, intensifying fears that the global economy may be slowing down because of the ongoing trade war. A weaker-than-expected reading on U.S. manufacturing added to those fears.
The Dow Jones Industrial Average dropped 660.02 points, or 2.8 percent, to 22,686.22 as Apple shares led the decline. The 30-stock index tumbled to its low of the day right before the close, trading down as much as 707.83 points. The S&P 500 pulled back 2.47 percent to 2,447.89 as the tech sector fell 5.07 percent. The Nasdaq Composite tumbled 3 percent to 6,463.50, snapping a five-day winning streak, as Apple's stock dropped nearly 10 percent.
Apple said it sees first-quarter revenue of $84 billion vs. a previous guidance of a range of $89 billion and $93 billion. Analysts expected revenue of $91.3 billion for the period, according to the consensus estimate from FactSet. Apple blamed most of the revenue shortfall for struggling business in China.
Thursday's decline in equities was accelerated by a weaker-than-expected reading on the U.S. manufacturing sector. ISM's manufacturing index fell to 54.1 in December, economists polled by Refinitiv expected 57.9.
The pan-European Stoxx 600 index ended provisionally down 0.9 percent at the end of the session, with all major bourses in the red. The FTSE closed down 0.49 percent, while the CAC and the DAX were both around 1.5 percent lower. European markets closed lower on Thursday as a revenue guidance cut from Apple fueled fears of a slump in global economic growth.
Tech sector suffered as a result, losing more than 4 percent of its value by the closing bell. Apple suppliers in the continent also faltered, with shares of Austrian chipmaker AMS plunging 23 percent and Swiss firm STMicroelectronics down nearly 12 percent at the close.