IMF confirms economic growth of Serbia at 3.5%
The IMF Mission confirmed during its visit to Serbia that the country’s growth in 2019 would amount to at least 3.5%, Finance Minister Sinisa Mali stated. Noting that the visit ended the next day, Mali emphasized that it was very important that they had confirmed the state’s prognosis when it comes to the economic growth. The minister reminded that the country had an economic growth of 4.3% in the past period. This year, it will be at least 3.5%, which is very important for banks’ plans. Both the IMF and the World Bank project that Serbia will be the fastest growing economy in the region until 2023 – Minister Mali said.
KMBN: Serbia to launch Komercijalna Banka tender in early June - fin min
Serbia's government plans to launch a tender for the sale of its 41.74% shareholding interest in blue-chip lender Komercijalna Banka at the beginning of June, finance minister Sinisa Mali said on Monday. "We expect the public call for a strategic partner in the capital of Komercijalna Banka to be made in the beginning of June," Mali said in a video file posted on the YouTube channel of daily Kurir. The Serbian government is exiting the banking sector and will keep only its ownership of Banka Postanska Stedionica, Mali said at the opening of a digital banking conference in Belgrade.
IT industry Serbia's fastest-growing sector
The IT industry is Serbia's fastest-growing sector and we must promote Serbia as a country of innovations and know-how and transform our economy, Serbian PM Ana Brnabic said Friday. Speaking about a new, 90 mln dollar investment by NCR, Brnabic told Pink TV the US tech company had now also transferred its entire R&D operations to Serbia. Serbia's IT sector grew 21.6 pct in 2017 compared to 2016, rising 26.2 pct last year, she said. Brnabic also said Serbia still had a chance to become the destination of a Volkswagen plant and that the country would continue to fight for such an outcome.
Stocks slide as Huawei fallout drags down Qualcomm, other tech shares; Europe markets slump as geopolitical risks mount; tech stocks slide 2.8% on Huawei fallout
Stocks fell on Monday as the intensifying fallout from a U.S. crackdown on Chinese telecom giant Huawei pressured the technology sector. The Dow Jones Industrial Average declined by 84.1 points to 25,679.90 as Apple lagged. The 30-stock index dropped as much as 203 points earlier in the day. The S&P 500 pulled back 0.7% to 2,840.23, with the tech sector dropping 1.8%. The Nasdaq Composite lagged, dropping 1.46% to 7,702.38.
Alphabet’s Google has suspended business with Huawei that involves transferring hardware, software and other technical services. Bloomberg News also reported that companies like Intel, Qualcomm and Broadcom will not supply Huawei until further notice.
pple added to the market’s decline, sliding more than 3% after an HSBC analyst cut its price target on the tech giant. The analyst cited worries over the ongoing trade war for the target cut.
European markets traded lower Monday as investors digested geopolitical developments and corporate earnings.
The pan-European STOXX 600 slipped 1.3% on Monday, with technology stocks leading the losses with a 2.8% drop on the fallout from heightened global scrutiny of Chinese technology companies.
Travel and leisure stocks slipped 1.8% on the back of disappointing full-year results from Ryanair. The company posted its weakest annual profit in four years and said earnings could fall further next year, as Europe’s largest budget airline battles overcapacity, Brexit and delays in delivery of the Boeing 737 Max. Shares traded 2.7% lower in the afternoon session.