Fiat to decide on new model to be produced at Kragujevac plant on June 1
e company Fiat Chrysler should soon launch a successor to Grande Punto, which might be produced in Kragujevac as well, Blic reports. Sergio Marchionne, President of FCA, said that Fiat would announce the decision on the new model to be produced in Kragujevac on June 1, when the company should reveal its five-year business plan. The new business plan, which encompasses the period from 2018 to 2022, will be made public officially on the anniversary of Marchionne's appointment in 2004. As Marchionne himself announced, the plan will be presented in Balocco, a town near Turin where the Italian-American company's road-testing track is located. The plan, Blic reports, should define whether Kragujevac will still be producing Fiat 500L only or if the Kragujevac plant is to get another model.
Zelezara Smederevo biggest exporter from Serbia in January 2018
The value of the export of the 15 biggest exporters in Serbia in January 2018 amounted to EUR 347.5 million, and the biggest exporter is HBIS Group, owner of Zelezara Smederevo, with exports worth EUR 70.4 million, the Ministry of Finance announced on Tuesday, February 6, 2018. Fiat Chrysler Automobiles (FCA) Serbia, the former biggest exporter, is in the second place with exports worth EUR 64.1 million. Tigar Tyres Pirot takes the third spot with exports worth EUR 30.5 million, followed by Naftna Industrija Srbije with EUR 28 million, Petrohemija (EUR 21.1 million), Robert Bosch (EUR 17.9 million), Tetra Pak (EUR 16 million), Hemofarm (EUR 14.2 million), Yura Korporacija Raca (EUR 13.9 million) and Leoni Prokuplje (EUR 13.3 million).
Agreement with Mytilineos reached – Serbia to pay USD 40m in four installments by December 2018
On Tuesday, February 6, 2018, representatives of the Greek company Mytilineos signed the final agreement on the settlement with the Government of Serbia in the amount of USD 40 million, the sum defined by the International Court of Arbitration, related to the debt of RTB Bor. According to the press release by the Greek company, the agreement was signed by Minister of Economy Goran Knezevic and Ministry of Mining and Energy Aleksandar Antic on behalf of the Serbian party. The Serbian government proposed for the compensation to be paid in four installment without an interest, with the final one due in December 2018, which Mytilineos agreed to.
SBITOP index gained 1,18% after days of correction
SBITOP index gained 1,18% after days of correction and ended the trading day at 817,49 points. The biggest gainers were stocks of Intereuropa (+4,12%), Luka Koper (+3,28%), Telekom Slovenije (+2,58%) and Krka (+1,77%).
The European Commission has again improved the economic outlook for Slovenia
In the winter economic forecasts, the European Commission has again improved the economic outlook for Slovenia. Last year's economic growth in Slovenia was 4.9%, according to the new Brussels estimation, this year it is 4.2% and next year 3.5%. The winter forecast for all three years is by 0.2 percentage point better than it was in the autumn.
Source: EC, Ilirika
Slovenian state asset management stays as it is
The government concluded that the strategy for managing capital investments of the state, which the National Assembly adopted by decree in July 2015, is still relevant in the current circumstances, and therefore the decree on the strategy does not need to be amended. Last year, the Slovenian State Holding Company (SDH) and the Kapitalska družba (Kad) proposed some changes to the strategy.
Slovenian annual price growth in January 2018 was 1.5 percent, at monthly level deflation (-0.8%)
In January 2018, at the annual level, the inflation rate was 1.5 percent, which was mostly contributed by more expensive foods. At the monthly level, Slovenia had deflation (-0.8%).
S&P 500 closes lower in biggest reversal since February 2016 as rates pop, European markets close higher after recent market turmoil
U.S. stocks slipped in choppy trading on Wednesday as technology and energy stocks fell, while investors adjusted to a market with greater volatility following wild swings of the past few sessions. The Dow Jones Industrial Average (DJI) rose 57.59 points, or 0.23 percent, to 24,970.36, the S&P 500 (SPX) lost 3.55 points, or 0.13 percent, to 2,691.59 and the Nasdaq Composite (IXIC) dropped 45.63 points, or 0.64 percent, to 7,070.25.
Among corporate earnings, Twenty-First Century Fox reported earnings and revenue that topped Wall Street expectations. The report was released after the market close. In addition, Tesla reported quarterly earnings and revenue that also beat analysts' expectations on Wednesday, and the company said it is on track to meet its Model 3 production goals. The company also said it delivered a record number of Model S sedans and Model X sport utility vehicles in the quarter. This was also reported after the market close.
GlaxoSmithKline said on Wednesday its earnings could slip this year, after a better-than-expected performance in the fourth quarter, as the drugmaker faces increased competition in its core respiratory and HIV businesses.
European stocks closed higher, as markets worldwide attempted to shake off the major volatility seen in recent sessions. The pan-European Stoxx 600 closed at 2.06 percent, with all sectors and major bourses in positive territory. Oil and gas stocks were among the top performers, up more than 2.43 percent amid corporate earnings news. Statoil announced stronger-than-anticipated fourth-quarter results, marking the latest oil company to benefit from a rapidly improving environment for big energy firms. Statoil's shares closed up 4.61 percent.
Swedish industrial technology firm Hexagon closed top of the European benchmark. The company said like-for-like sales in the final three months of 2017 had increased sharply from the previous quarter. Its shares were up 10.04 percent on the news.
Carlsberg shares were sharply lower, closing down 3.61 percent, after the Danish brewer after beer volumes fell in its key market of Russia.
The European economy is growing beyond expectations, and solid growth is expected to continue next year, the European Commission notes in the winter economic forecast. Now is the time for reforms in the euro area, Brussels says, and points out the risks of the uncertain outcome of the negotiations on Brexit, geopolitical tensions and protectionist policies.
Source: CNBC, EC, Investing.com, Ilirika