Binding bids for Komercijalna banka due by December 2
The second phase of a tender procedure to privatise Komercijalna banka is underway and will be completed on December 2 with the submission of binding bids by interested investors, Finance Minister Sinisa Mali said Tuesday. In the previous phase, four non-binding bids were received and the bidders qualified for the second phase, Mali told a press conference in the Serbian government building. "A due diligence procedure - a detailed analysis of Komercijalna banka operations - is currently underway and we expect binding bids by December 2. Then we will know whether, and in what way, we have found the right partner for Komercijalna banka," he said.
Number of permits issued in August 2019 higher by 9.1% compared to same month last year – Half of new buildings raised in Belgrade
The Statistical Office of the Republic of Serbia writes that, in August 2019, 2,136 building permits were issued, an increase of 9.1% related to August 2018. Index of anticipated value of works in August 2019 increased by 124.1% relative to August 2018. Observed by types of constructions, in August 2019, 80.6% of building permits related to buildings and 19.4% to civil engineering. When referring only to buildings, 70.9% related to residential buildings and 29.1% to non–residential ones, while regarding civil engineering, the majority related to pipelines, communication and electric power lines (70.1%).
VW must be offered everything to come to Serbia
Serbia has all the competitive advantages over Bulgaria to attract the German automotive giant Volkswagen, says Igor Vijatov, head of Serbia's automotive industry cluster. To make sure VW decides in favour of investing in Serbia, the government must offer the company all it can as soon as possible - free development land, roads and labour force, Vijatov has told Tanjug following the confirmation of reports VW has postponed a decision on the construction of a new car plant in Turkey over Ankara's military action in Syria.
Stocks slip as weak retail sales offset solid earnings; European stocks close flat as Brexit talks hang in the balance
Stocks fell slightly on Wednesday as weak retail sales data, coupled with persisting trade-war fears, offset strong earnings results. The Dow Jones Industrial Average dipped 17 points, or 0.1%. The S&P 500 slid 0.2% while the Nasdaq Composite dipped 0.3%.
Retail sales unexpectedly dropped 0.3% in September, marking their first decline in seven months. Spending cutbacks on motor vehicles and online purchases, among other factors, weighed down retail sales. Bank of America reported Wednesday better-than-expected earnings and revenue for the third quarter, sending its stock up 1.5%. The company’s consumer and banking businesses helped offset slumping trading revenues.
United Airlines, meanwhile, rose more than 2% on earnings that topped analyst expectations. The airline also raised its full-year earnings guidance.
European stocks traded without any real direction Wednesday as investors pause for guidance on the likelihood of an imminent Brexit deal between the U.K. and the EU. The pan-European Stoxx 600 slightly pared early losses to end the session just 0.05% below the flatline, with financial services falling 0.9% to lead losses while auto stocks climbed 1.6%.