NIIS: Deep processing project to be completed in autumn this year
The key investment concerning the production of the Deep Processing facility was going as planned and this EUR 300 million investment would be completed in the autumn of the current year, which is an important step forward for NIS, Enrgy Minster, Aleksandar Antic said, during his stay in St. Petersburg. This investment considerably increases the efficiency and depth of processing to over 99%. This refinery will be efficient and far more profitable and operate in line with the highest environmental standards – Antic emphasized.
Gas pipeline in Serbia to be completed by December 2019
Serbian Minister of Mining and Energy, Aleksandar Antic met in St. Petersburg with the Chairman of the Gazprom’s Managing Board, Alexi Miller who said that the Russian company would continue to supply Serbia regularly with gas and that the gas pipeline, that runs through Serbia, would be completed in mid-December 2019. In his statement to Tanjug, Antić said that he and Miller also talked about the overall cooperation, and Gazprom’s CEO expressed a firm stance that Gazprom would provide all the necessary quantities of gas for Serbia.
Construction of subway system most probably to begin by end-2020 – Simultaneous building of both lines possible
The construction of the subway system will begin in Zeleznik, and the first two lines will cross at the Sava Square and Mirijevo, whereas the route toward New Belgrade will pass through the tunnel beneath the Sava, said Mayor of Belgrade Goran Vesic. As he said, this is the essence of the study prepared by the French company Egis. If everything goes as planned, we will begin building the subway system by the end of 2020. We might even begin the construction of both subway lines at the same time – Vesic said in Surcin, where he opened the Bojcin Cultural Summer event.
Dow rises 70 points, up for sixth straight day, after Mexico tariffs avoided; European stocks close higher as trade tensions ease; UK economic data disappoints
MaStocks rose on Monday, extending last week’s big gains, after the U.S. reached an agreement with Mexico on tariffs, easing some of the trade concerns which have weighed on the market since early May.
The Dow Jones Industrial Average rose for a sixth straight session, finishing the day 78.74 points higher at 26062.68 after jumping 226.67 points at intraday high. The S&P 500 gained about 0.5% at 2886.73, now about 2% from its intraday all-time high hit on May 1. The Nasdaq Composite rose 1% at 7823.17 on Monday, led by Amazon.
Adding to the bullish sentiment on Monday was a blockbuster deal in the aerospace industry. Raytheon and United Technologies agreed to an all-stock merger that would create a combined company with $74 billion in annual sales. Both shares surged in premarket trading. Shares of Raytheon rose 0.7%, while shares of United Technologies fell about 3%.
The pan-European Stoxx 600 edged 0.2% higher during the session, basic resources leading gains with a 1.2% rise while utilities fell 0.7%. German stocks were closed for a holiday.
In corporate news, Reuters reported that Fiat Chrysler (FCA) and Renault are seeking ways to resuscitate their collapsed merger and secure the approval of Renault’s alliance partner Nissan. FCA shares jumped 2%, also bolstered after self-driving car software startup Aurora said Sunday it would partner with the company to build autonomous platforms for commercial vehicles.
Renault climbed 2.3% as investors reacted to the merger news, while French Finance Minister Bruno Le Maire told CNBC Monday that the country has a strategy to reinforce a fragile alliance between Renault and Nissan.