Chinese to invest in Serbia's energy sector - minister
Chinese investments in Serbia are continuing to develop and are mostly related to infrastructure and energy. Serbian Minister of Energy and Mining Aleksandar Antic said this in Croatia on Friday, where he is a member of the Serbian delegation attending a meeting of the Central and Eastern European Countries and China (16+1). Antic added that Serbia would seize an opportunity to sign new agreements and memorandums at the summit, and that construction of the New Belgrade-Surcin and Pozega-Boljare highway sections will be discussed.
Serbian state budget reports surplus in Q1
In the first quarter of this year, a budget surplus of RSD 15.8 billion has realized, Finance Minister Sinisa Mali has said. "That is RSD 34.9 billion better than the budget plan, i.e., almost EUR 300 million better than we planned, and that is only in the first quarter of this year," Mali said at an international conference organized by the Competition Protection Commission. He stressed that competition is very important for the Serbian economy and reminded that Serbia currently has a BB credit rating with agencies, with positive outlook, while the plan is fain investment credit rating in the next two years.
Germany is Serbian most significant external trade partner
Germany is Serbia's most significant external trade partner, says Serbian Finance Minister Sinisa Mali, noting that even better use must be made of the great potential for further cooperation. The nearly 1,000 German companies operating in Serbia - which employ close to 60,000 people - are a very significant factor in business and in the progress of the Serbian economy, Mali said Thursday evening at a traditional conference of the German-Serbian Chamber of Commerce (AHK Serbia). "You will perhaps include Volkswagen in the list of your members," Mali told the AHK Serbia members. Mali said AHK Serbia would on May 9 unveil a report on the views of German investors in Serbia, noting that many objections and proposals from businesses would be reflected in adopted legislation and that this practice would be continued.
Dow rises 260 points, S&P 500 posts 3rd weekly gain led by Disney, JP Morgan, European stocks close slightly higher on Brexit relief, strong US earnings
Stocks rose on Friday after a slew of positive corporate news that included strong bank earnings and Disney unveiling a new streaming service. The Dow Jones Industrial Average surged 269.25 points. Gains in the financials and materials sectors pushed the S&P 500 0.66% higher. The benchmark broke above the key 2,900 level for the first time in six months and stood at less than 1% from a record high. It’s also the third consecutive weekly gain for the S&P 500. The Nasdaq Composite advanced 0.46%.
J.P. Morgan Chase kicked off the corporate earnings season on Friday by reporting better-than-expected results. The company said “impact of higher rates ” boosted its results, along with its fixed-income trading revenues. Wall Street cheered J.P. Morgan’s report, sending the stock up 4.7%.
Disney shares added to the gains, rising more than 11% after the media giant unveiled a streaming service at a lower price point than Netflix. Shares of Netflix, meanwhile, dipped 4.5%.
European stocks closed slightly higher Friday as economic data, early first-quarter results and Brexit relief calmed fears over the region’s economy. The pan-European Stoxx 600 closed provisionally around 0.1% higher, with sectors and major bourses mostly in positive territory.
Shares of British engine manufacturer Rolls Royce were trading more than 1% higher after the company announced a deal with Korea’s Air Premia that will see the firm make engines for its jets.
Meanwhile, Italian payments group Nexi priced its IPO at 9 euros per share on Friday, unveiling what is set to be one of Europe’s biggest initial public offerings this year. Nexi’s shares will begin trading in Milan on Tuesday.