Sarajevo-Belgrade highway route agreed
The chairman of the tripartite Presidency of Bosnia and Herzegovina, Milorad Dodik, the Minister of Traffic and Communication of FB&H, Denis Lasic, and the Minister of Traffic and Communication of Republika Srpska, Nedjo Trninic, agreed on February 26 on the final route of the Sarajevo-Belgrade highway and high-speed road. We have agreed for the route to be officially proposed and be put on the map within the next seven days, after which it will be put up for the further adoption procedure – Dodik said at a press conference following the meeting. He emphasized that Turkey was ready for investments in one such structure. As it was later added, it remains to be seen in which way Turkey will be involved, as the possibility of additional loans remains.
NBS: Annual inflation expected at 2.1-2.7%
According to the latest NBS Inflation Survey, for January, one year inflation is expected in a range of 2.1-2.7%. In addition, two years ahead inflation is seen at 3%, while this is expectation from both financial and corporate sector.
Izvor: NBS, Ilirika
Nectar announces penetration of African and Asian markets
Nectar presented its products at Gulfood Dubai, the world's largest food and drink fair, which brought together over 5,000 exhibitors from 186 countries, and announced the penetration of new markets, Africa and Asia. Milan Rados, the Commercial Director of Nectar Group, said that the company exported to over 60 countries and that they looked to expand the number to 100. He said that the strategic orientation of the company is the penetration of faraway markets a
Fifth largest bank in the world arrives in Serbia
Minister of Finance Sinisa Mali met on Tuesday in Belgrade with Chinese Ambassador Chen Bo, with whom he discussed the two countries' joint projects. The minister emphasized the importance of Chinese investments in Serbia, and especially the investment of Zijin in RTB Bor, Hbis in Zelezara Smederevo and the arrival of Ling Long in Zrenjanin. During the meeting, the officials also spoke about the Bank of China, which has been present in Serbia since recently - it is the fifth largest bank in the world. The minister pointed out that he will meet with the management of this bank in next week.
Stocks close down slightly for the day after Home Depot missed on earnings, and housing data was bad, Europe stocks close higher as retail rallies
Stocks fell in choppy trading Tuesday as investors digested the release of weaker-than-expected Home Depot earnings, mixed economic data and testimony from the top-ranked Federal Reserve official. The Dow Jones Industrial Average dipped 33.97 points to 26,057.98 as Caterpillar and Home Depot underperformed. The S&P 500 pulled back 0.1 percent to close at 2,793.49 as losses in the industrials sector offset a gain in tech. The Nasdaq Composite closed 0.07 percent lower at 7,549.30. The major indexes alternated between gains and losses for most of the session.
Home Depot reported adjusted fourth-quarter earnings of $2.09 a share, below an expected profit of $2.16. The home improvement company also issued weaker-than-expected guidance for 2019. Those results sent Home Depot shares down about 0.88 percent. Home Depot's results were followed by weaker-than-expected housing starts data.
Market participants also digested testimony from Federal Reserve Chairman Jerome Powell to a U.S. Senate committee on Tuesday. In prepared remarks, Powell said the economy is "healthy" but added the Fed is also seeing "crosscurrents and conflicting signals."
Caterpillar dropped 2.4 percent after UBS cut its rating on the industrial giant to sell from buy. UBS also slashed its 12-month price target on Caterpillar to $125 per share from $154, implying an 11.6 percent downside from Monday's close of $141.41. UBS cited slowing demand in global construction as the main reason for the downgrade. Caterpillar is largely seen as a bellwether for global growth.
European stocks closed higher on Tuesday as investors digested strong data from the U.S. and reacted to political developments in the U.K. The pan-European Stoxx 600 ended the session 0.5 percent higher, with most sectors in positive territory, after spending much of the day in the red.
In Europe, retail was the best performer, up 2 percent. Reports revealed that British high street chain Marks & Spencer was in talks with Ocado to create a full online food delivery service. Shares of Marks & Spencer were up 3.2 percent during afternoon trade, while Ocado shares gained almost 12 percent and soared towards the top of the index.