Serb-China agreements signed in Dubrovnik worth nearly USD 10 billion
Serbian Prime Minister Ana Brnabic has stated that the value of the projects signed by Serbia at the Summit of China and the 16 Countries of Central and Eastern Europe in Dubrovnik is nearly USD 10 billion. She said on TV Prva that, for her, the most important one was the Memorandum of Understanding for the construction of the Pozega-Boljare highway. We have started the preparatory works for the Preljina-Pozega section – Brnabic said. According to her, it is important that Serbia will become a member of the Asian Infrastructure Investment Bank by the end of the year.
Annul inflation in March at 2.8%
According to the data of the Serbian Statistical Office, consumer price growth amounted to 0.4% in March 2019. Monthly inflation reflected mainly the rising prices of unprocessed food and petroleum products. At the same time, downward pressures on inflation came from the seasonally lower prices of travel packages and clothes and footwear. Under the NBS central projection, y-o-y inflation will remain stable in the coming period, moving within the target tolerance band of 3.0%±1.5 pp.
Elite Agro from Abu Dhabi among largest landowners in Serbia
The grain production company Elite Agro LLC, registered in Abu Dhabi, recently acquired the 100% ownership in Al Rawafed Holding, whereby it became the owner of 12,000 hectares of arable land in Serbia and one of the largest land owners in the country, Nova ekonomija reports. As recently said in the decision on the concentration of the two companies, issues by the Commission for Protection of Competition of Serbia, the company’s main competitors are Matijevic Agrar, with around 30,000 hectares, Miodrag Kostic’s MK Group, with around 25,000 hectares, PKB, recently sold to another Arab company, Al Dahra, with around 18,000 hectares, Almeh, with 15,000 hectares, and Miroslav Miskovic’s Delta Agrar, with around 12,000 hectares.
Stocks slip after lackluster earnings from Goldman Sachs and Citigroup, Europe stocks close higher amid US bank earnings, Nokia falls 4% on Goldman downgrade
Stocks closed slightly lower on Monday as investors digested mixed quarterly numbers from big banks like Goldman Sachs and Citigroup. The Dow Jones Industrial Average dipped 27.53 points to 26,384.77, while the S&P 500 slipped 0.1% to 2,905.58. The Nasdaq Composite ended the day down 0.1% at 7,976.01.
Goldman Sachs reported better-than-expected earnings as the bank kept compensation in check, but its revenue came in below analyst expectations as sales from its institutional clients division dropped by 18%. Shares of Goldman dropped 3.8%, posting its biggest one-day decline since Dec. 21.
Meanwhile, Citigroup earnings topped expectations as the company repurchased more than $4 billion in stock. However, a 20% fall in its equity trading division contributed to a 2% fall in overall revenue, which disappointed analysts. Citigroup shares dipped 0.1%.
European stocks closed slightly higher on Monday as investors monitored corporate earnings and developments in U.S.-China trade talks.
The pan-European Stoxx 600 index closed provisionally up more than 0.1%, with most sectors and major bourses in positive territory.
Nokia dropped almost 4% following a downgrade from Goldman Sachs. Analysts at the bank said the Finnish telecommunications firm was faces downside risks amid increasing competition from Ericsson and Samsung.