SLOVENIA
SBITOP flat
The SBITOP index on the Ljubljana Stock Exchange was flat on Wednesday at 829.29 points, as solid gains by a majority of blue chips were offset by losses by drug maker Krka, insurer Sava Re and port operator Luka Koper. Total volumes exceeded EUR 1.4m.
Blockchain technology creating web 3.0
The first European blockchain summit opened in Brdo pri Kranju on Wednesday, with Joseph Lubin, the co-founder of cryptocurrency Ethereum, saying in his keynote address that blockchain technology represented web 3.0, a decentralised web which will enable true sharing economy.
Source: STA
Pipistrel starts building its factory in China
The foundation stone has been laid for a new factory of ultra-light aircraft maker Pipistrel in Jurong, near Nanjing, China. The investment carried out with a Chinese partner, also featuring an airport and an apartment complex, is worth over a billion euro, while Pipistrel will invest EUR 350m.
Source: STA
The unemployment rate in 2017 the lowest in the last eight years
In 2017 the ILO unemployment rate was 6.6%, 1.4 percentage points lower than in 2016. It was lower in all statistical regions. The number of employed persons (959,000) increased by 4.8%, while the number of unemployed persons (67,000) decreased by 15.4% compared to 2016.
Source: SURS
INTERNATIONAL MARKETS
House prices up by 4.2% in the euro area
House prices, as measured by the House Price Index, rose by 4.2% in the euro area and by 4.5% in the EU in the fourth quarter of 2017 compared with the same quarter of the previous year.
Source: Eurostat
US Inflation Rate Highest in a Year
Consumer prices in the US increased 2.4% yoy in March, above 2.2% in February and matching expectations. It is the highest inflation rate in a year, mainly boosted by shelter and used car prices. On a monthly basis, prices fell 0.1%, compared with forecasts of a flat reading. Gasoline prices went down 4.9%, the largest drop since May 2017.
Source: TA
SERBIA
NBS: Serbian FX reserves in March at EUR 10.2bn
NBS FX reserves stood at EUR 10.2bn at end-March, up by EUR 443.9 mn from end-February. This level of gross FX reserves covered 191% of money supply (M1) or more than five months’ worth of the country’s imports of goods and services (almost twice the level prescribed by the standard on the adequate level of coverage of imports of goods and services by FX reserves). The considerable increase in gross FX reserves in March mostly resulted from inflows from NBS activities in the domestic FX market, i.e. FX purchases amounting to EUR 405.0 mn, which further strengthened the resilience of the domestic financial system to potential shocks from the international environment.
Source: NBS
World Bank projects growth of Serbian GDP of 3% in 2018
The growth of the gross domestic product (GDP) of Serbia will amount to 3% in 2018 and 3.5% in 2019, the World Bank announced today. The World Bank analysts pointed out at a press conference in Belgrade that, following the “disappointing” growth of Serbia's GDP in 2017 of 1.9%, the medium-term economic recovery will be down to a growth of consumption, not export. They project that Serbia's exports will be higher by 7% this year and that the growth of consumption will be incited by the raising of salaries in the public sector and pensions, but also by an employment increase.
Source: Ekapija
Fiat and Zelezara Smederevo biggest exporters in Serbia
The value of the export of the 15 biggest exporters in Serbia in the first three months of 2018 was EUR 1.1 billion, and the biggest exporters are Fiat Chrysler Automobiles (FCA) Serbia, with EUR 225.7 million worth of exports, and HBIS Group, owner of Zelezara Smederevo, with exports worth EUR 201 million, the Ministry of Finance reported. Tigar Tyres Pirot is in the third spot with exports worth EUR 103.8 million. Further on the list are Naftna Industrija Srbije (EUR 82.5 million), Robert Bosch Belgrade (EUR 61.5 million), Petrohemija Pancevo (EUR 58.7 million), Tetra Pak Belgrade (EUR 52.5 million), Hemofarm Vrsac (EUR 45.2 million) and Grundfos Indjija (EUR 44.7 million).
Source: Ekapija
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