NIIS: NIS announces investments of EUR 1.5 billion by 2025 – Production of oil and gas in B&H considered as well
The CEO of Naftna Industrija Srbije, Kirill Tyurdenev, said during the Kopaonik Business Forum that the company would invest EUR 1.5 billion in new projects and production by 2025 and that the production of oil and gas in Bosnia and Herzegovina was being considered as well. Tyurdenev says that the total investments of NIS amount to EUR 5 billion, including those yet to be realized. One of these facilities will be located in Pancevo, and as he announced, an investment in a wind farm in Plandiste, the construction of a 100-MW facility in which 140 to 150 million euros will be invested, is planned as well. The project in Pancevo, where a facility for the production of electrical energy is being built, will cost this company 170 to 180 million euros. Tyurdenev said that the production of oil and gas in the territory of B&H was being considered and that the company was looking into the potentials of numerous locations.
EU secures EUR 10 million in guarantees for favorable credits for Serbian economy
Dubravka Negre, the head of the Regional Office of the European Investment Bank (EIB) for the Western Balkans, stated that this financial institution would soon publish a call to banks in Serbia to lend money to businesses under more favorable conditions, the guarantees for which have been provided by the European Union. In her statement for Tanjug, Negre said that the guarantee of the European Union amounted to EUR 10 million.
Serbia attractive for investments in mining sector
Serbia is favourable for investments and a survey by the Canadian Fraser Institute ranks it the fourth most attractive European country for investments in the mining sector, Serbian Minister of Mining and Energy Aleksandar Antic said in Toronto Monday. Antic is heading a Serbian delegation at an international ministerial summit held within the framework of the PDAC mining trade show. In a speech before 200 representatives of mining companies, Antic delivered a presentation of the Serbian mining sector and the country's potentials. All companies that may in the future express an interest to invest in the mining sector should bear in mind that Serbia is a country that has created all the required conditions for this and that it is ready to develop, Antic said.
EBRD to provide EUR 500m for different projects in Serbia
EBRD considers EUR 500m funds for financing different projects on Serbia, Zuzana Hargitaj said during the Kopaonik business forum. She added that bank may revise upwards GDP growth projection for Serbia in 2019, which is now at 3.5%. According to her statement, strong growth n 2018 was driven by higher domestic demand and high export growth rate.
Source: b92, Ilirika
Stocks dip as investors monitor US-China trade talks, Target rises on earnings, Europe markets close lower as politics take center stage
Stocks were little changed on Tuesday as investors weighed ongoing trade negotiations between China and the U.S. along with strong earnings from Target. The Dow Jones Industrial Average fell just 1 point as shares of Walgreens Boots Alliance dipped more than 1 percent. The S&P 500 was down 0.1 percent while the Nasdaq Composite was flat.
On Tuesday, investors cheered stronger-than-expected quarterly results out of retailer Target, sending its shares up around 5 percent. The company posted earnings per share of $1.53 and revenue of $22.977 billion. Both numbers topped analyst estimates from Refinitiv. Target's same-store sales, a key metric watched by Wall Street, rose 5.1 percent. The company also said its digital sales grew by more than 25 percent.
Stocks in Europe were slightly lower on Tuesday afternoon, as investors monitored various political developments across the globe. The pan-European Stoxx 600 was down around 0.2 percent during afternoon deals, with most sectors in negative territory. Autos and industrials were among the worst performing sectors as China cut its growth targets to a 30-year low.
Telecoms were the clear outperformer, up by 0.7 percent. The sector was pushed higher by news that Vodafone is to raise about 4 billion euros by issuing mandatory convertible bonds, Reuters reported. Vodafone was up by 1.8 percent.
Looking at other individual stocks, the German chemical company Evonik rose to the top of the index, up by 5.4 percent. This followed an earnings report where the company announced a unit sale to boost shares.