NBS: Mid-term inflation expected at 2.5-2.8%
According to the results of the July survey, one-year and two-year ahead inflation expectations of the financial and corporate sectors continued to move within the target tolerance band (3±1.5%). One-year ahead inflation expectations of the financial sector were lowered from June to 2.5% in July. Corporates kept their one-year ahead expectations at their June level – 2.5%. Medium-term inflation expectations of the financial sector stood at 2.8% in July, a decline from 3.0% where they had stood for the past nine months. Medium-term inflation expectations of corporates also edged down from June, to 2.5%, in July.
Talks on minimum wage get underway, deadline September 15
A working group of partners in Serbia's Social and Economic Council met on Monday to kick off talks about the minimum hourly and monthly wages for 2020. The deadline for an agreement is September 15 - if no deal is made, a decision on the minimum labour cost will be made by the Serbian government. Over the past years, the minimum monthly wage has risen to over 27,000 dinars - which is equivalent to 155 dinars per hour - but top government officials have announced efforts to increase the amount to 30,000 dinars.
FDIs at 1.9 bln euros in first six months of 2019
In the first six months of 2019, Serbia registered 1.9 bln euros worth of FDIs - or 31.1 pct more than in the same period last year, Serbian Finance Minister Sinisa Mali said Tuesday. "Serbia is moving forward unstoppably," Mali said in an appearance on Pink TV. He said he had received the latest FDI figures on Monday and that this confirmed Serbia was making large strides forward.
Dow falls 170 points, snaps 3-day winning streak; European stocks close lower as Italian PM resigns
The Dow Jones Industrial Average fell for the first time in four sessions on Tuesday, paring some of the strong gains from the previous session as recession fears lingered. The 30-stock index closed 173.35 points lower, or 0.7%, at 25,962.44. The S&P 500 pulled back 0.8% to end the day at 2,900.51. The Nasdaq Composite slid 0.7% to 7,948.56. The major indexes fell to their session lows in the final minutes of the trading session as Treasury yields declined as well.
Home Depot helped keep losses in check. Shares of the home improvement retailer rose 4.4% on better-than-expected earnings. However, Home Depot warned tariffs could hit consumer spending and cut its full-year revenue outlook.
European stocks closed lower on Tuesday as worries heightened over Italy's mounting political crisis.
The pan-European Stoxx 600 closed provisionally down around 0.7%, with the majority of sectors and major bourses in negative territory.
Shares of Danish jeweler Pandora climbed 10% to top the Stoxx 600 after it confirmed full-year guidance following its second-quarter results. Meanwhile French retailer Casino climbed almost 6% after it announced the pursuit of a further 2 billion euros ($2.22 billion) in asset sales.