SLOVENIJA

SLOVENIA

Krka expects bribery investigation results by end of month

The Slovenian pharma Krka said on Friday that its internal investigation into alleged bribery activities in the company's Romanian subsidiary was expected to be completed by the end of January. If any irregularities affecting Krka's business performance are indeed uncovered, the drug maker would publicly report on them. (STA)

INTERNATIONAL MARKETS

Stocks rise slightly to end a record-setting week; Europe closes higher as China’s GDP grows as expected; Stoxx 600 hit records high

Stocks rose slightly on Friday as Wall Street wrapped up a solid weekly performance that featured record levels amid strong global economic data and a solid start to the earnings season. The Dow Jones Industrial Average closed 50.46 points higher, or 0.2% at 29,348.10. The S&P 500 climbed 0.4% to 3,329.62 while the Nasdaq Composite advanced 0.3% to end at 9,388.94. The major averages all hit record highs on Friday.
Friday’s gains came after Chinese industrial data for December topped expectations overnight, with production rising 6.9% on a year-over-year basis. The overall Chinese economy grew by 6.1% in 2019, matching expectations. To be sure, that is also the slowest growth rate for the Chinese economy since 1990.
Schlumberger reported Friday quarterly earnings that beat analyst expectations. CSX’s earnings also beat expectations, but the stock slid 0.2%.
The pan-European Stoxx 600 closed provisionally up by 0.9%, having notched a fresh record high earlier in the day. Basic resources stocks jumped over 2% to lead gains as most sectors and major bourses traded in positive territory.
Swedish Orphan Biovitrum shares jumped around 9% after the company raised its full-year estimates for 2019. (CNBC)

SERBIA

MAT: “Average salary of 900 euro is possible by 2025”

Stojan Stamenkovic, research coordinator at Macroeconomic Analyses and Trends (MAT) magazine, says that it is possible to reach the average wage of 900 euro by 2025 under certain conditions and that it would be positive if the people who endorsed the Serbia 2025 programme actually explained how it is possible, which implies a “complex calculation”. At a press conference, Stamenkovic said that taking into account the average salary of 500 euro, which is expected to be reached in January this year, an 80% increase is needed if we are to have the average salary 900 euro by 2025 as announced by Serbian President Aleksandar Vucic. “Assuming that the gross domestic product (GDP) in Serbia grows by 4% per year, in six years’ time, starting from 2020, it will be higher by 26.5%. However, the average salary expressed in euro is comparable to the value of GDP in euro and, providing the inflation rate stood at 3% per year, this would all imply a GDP growth of 7.1% per year,” said Stamenkovic. Under these conditions, the value of GDP in 2025 would be 51% higher than in 2019 and there would be several ways to bridge the gap between 80% wage growth and 51% GDP growth. (Serbianmonitor)

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