KMBN: Komercijalna Banka awaits tender with strong balance sheet
The date for tender for selecting a strategic partner for Komercijalna Banka is approaching fast. Vladimir Medan, the President of the bank`s Executive Board said for Blic daily that they were waiting for the strategic partnership with a strong balance sheet because last year the bank had achieved the best financial results in the past ten years. Blic reminded that the Minister of Finance, Sinisa Mali said the public call for tender would be placed in May and the whole thing should be over with by the year`s end. Medan said to Blic that they achieved success by altering the trends in the most important business aspects and recorded significant progress in several business areas. The bank made a record profit of nearly EUR 71 million, which is its most significant achievement. We have simultaneously improved many business parameters – we increased the savings rate, balance sum, workforce productivity and our market share which is, in our opinion, the most important message Komercijalna Banka can send, said Medan
Serbian economy faces slowdown in 1Q19 due to slight decline of industrial output
Serbia saw a slowdown of economic growth at the beginning of 2019, largely due to a slight decline of industrial output, Lazar Sestovic, a senior economist with the World Bank, said in Belgrade Tuesday. At a presentation of the World Bank's regular Western Balkans economic report, Sestovic said January growth had been poor and that the economy had declined 1.6 pct in the first two months of 2019 compared to the same period of last year despite a slight recovery in February. The performance of the agriculture sector is still unknown but some indicators show that weather conditions were unfavourable, he said. Government consumption - a major driver of GDP - recovered due to a public sector wage increase, he said, adding that the January surplus had been around 18 bln dinars
Western Balkans' economy to grow 3.7% in 2019-20, outlook vulnerable – World Bank
The World Bank said on Tuesday it foresees economic growth in the Western Balkans to average 3.7% in 2019-20 with outlook vulnerable to growing external and domestic risks. Economic growth in the Western Balkans accelerated to 3.8% in 2018 from 2.6% in 2017, the World Bank said in a press release, following the presentation of its latest Western Balkans regular economic report in Tirana. The bank noted that outlook is vulnerable to growing external and domestic risks, including geopolitical and trade disputes and a slower-than-expected pace of structural reforms. According to the report, countries in the region (Albania, Bosnia, North Macedonia, Montenegro and Serbia) now have an opportunity to advance reforms to mitigate these risks amid growing public demand for greater economic opportunities, the bank said.
Dow snaps 3-day winning streak as Walgreens falls on earnings, European markets close higher amid upbeat data, Brexit chaos rumbles on
The Dow Jones Industrial Average fell for the first time in four sessions on Tuesday as investors digested a strong rally from the previous session, while a decline in Walgreens Boots Alliance pressured the index. The 30-stock Dow closed 79.29 points lower at 26,179.13. The S&P 500 ended the day just above the flatline at 2,867.24, while the Nasdaq Composite gained 0.25 percent to close at 7,848.69.
Shares of the Dow member Walgreens Boots Alliance fell 12.8 percent on weaker-than-expected earnings. Walgreens also lowered its earnings forecast for 2019. Tuesday’s session was the stock’s worst since Aug. 6, 2014, when it fell 14.3 percent.
Delta Air Lines, meanwhile, rose 6 percent after the company hiked its earnings guidance for the first quarter. Delta cited healthy demand.
European stocks ended higher on Tuesday, after stronger-than-anticipated factory activity surveys from the U.S. and China eased concerns over the global economy.
The pan-European Stoxx 600 index gained 0.36 percent, provisionally with sectors and major bourses largely in positive territory.
French IT services provider Atos also slumped toward the bottom the index after Berenberg cut its stock recommendation to “sell” from “hold.” Shares of the Paris-listed stock fell 2.05 percent on the news.