EIB: Political stability a must for all investors
Political stability in a country is a must for all investors, says Dubravka Negre, head of the European Investment Bank (EIB) regional office for the Western Balkans, expressing the hope the stability in Serbia will be maintained. Speaking to the RTS, she announced the EIB would set aside more funds for Serbian SMEs. Recalling that the EIB had been active in the region since 2001, she said the bank's investments had increased by 1 bln euros in 2018, with half of the funds going to Serbia as the region's largest country.
Country’s budget saw 22.2 bln dinar surplus instead of deficit in two months 2019
Serbia recorded a 22.2 bln dinar (1 euro = 118 dinars) surplus instead of a planned 3.5 bln dinar deficit in the first two months of 2019, State Secretary at the Ministry of Finance Gojko Stanivukovic said Monday. At a third meeting of the Dialogue on the Public Finance Management Policy, Stanivukovic said the debt-to-GDP ratio had dropped from 71.2 pct in 2015 to 50.4 pct at the end of February this year. Speaking about fiscal goals for the period to come, he said achieving relatively low fiscal deficits amounting to 0.5 pct of GDP made it possible to reduce the public debt to below 50 pct of GDP.
VW mulls moving Ukrainian factory to Serbia
Volkswagen is considering the relocation to Serbia of the manufacturing plant it currently operates in Ukraine's Solomonovo, Belgrade-based media reported. "Due to the situation in that country, the expected results have never been achieved. The potential arrival of Volkswagen would be a fantastic news for our country and economy," Vecernje Novosti daily quoted Milenko Kostic, owner of the general importer of Skoda cars to Serbia, Auto Cacak, as saying on Monday. The Solomonovo car factory in Ukraine is currently producing the Audi A4, Audi A6, Skoda Fabia, Skoda Octavia, SEAT Leon, SEAT Altea and SEAT Toledo models.
Dow snaps 4-day winning streak as Apple falls and trade worries flare up again, Autos stocks lead gains as European markets move higher, Danske Bank shares dive
The Dow Jones Industrial Average closed lower for the first time in five days on Tuesday, led by declines in Apple, while investors puzzled over conflicting reports over the progress of U.S.-China trade negotiations. The 30-stock Dow fell 26.72 points to 25,887.38. Apple was among the worst performers in the index, sliding 0.8 percent. The S&P 500 ended the day just below breakeven at 2,832.57 while the Nasdaq Composite closed 0.1 percent higher at 7,723.95. Both the S&P 500 and Nasdaq rose as much as 0.7 percent while the Dow traded nearly 200 points higher at its session high.
Stocks started to roll over after Bloomberg News reported, citing people familiar with the matter, that U.S. officials are worried China may be pushing back against U.S. demands in the countries’ ongoing trade talks. The report also said Chinese negotiators are worried they have not received assurances that tariffs imposed on Chinese goods would be lifted once a deal is struck.
European stocks were higher Tuesday morning, as investors monitored heightened Brexit uncertainty and awaited the Federal Reserve’s latest monetary policy meeting. The pan-European Stoxx 600 closed up provisionally 0.62 percent higher during afternoon deals, with most sectors and major bourses in positive territory.
Europe’s autos stocks led the gains, up more than 2.4 percent after French daily Los Echos reported on Monday that the Peugeot family could favor Fiat Chrysler as a candidate for possible consolidation operations. Shares of Fiat Chrysler jumped more than 5 percent on the news. Faurecia, Porsche and Daimler were also firmly higher.
Looking at individual stocks, Denmark’s Danske Bank tumbled toward the bottom of the European benchmark on Tuesday. It comes after two U.S. law firms filed a lawsuit against the lender on behalf of institutional investors over a 200 billion euro ($227 billion) money laundering scandal. Shares of the Copenhagen-listed stock fell over 5.5 percent.