INO:

Dow closes flat, bank shares jump led by JP Morgan; European stocks close higher amid choppy session ahead of US-China trade truce

The Dow Jones Industrial Average rose in volatile trading Tuesday to hit an all-time high as J.P. Morgan Chase led bank shares higher on the back of strong quarterly results. The 30-stock average was up 76 points, or 0.2%. The S&P 500 and Nasdaq Composite were flat, however.
J.P. Morgan Chase posted quarterly earnings and revenue that beat analyst expectations, sending the stock up more than 1.5%. The bank’s annual profits also reached record levels at $36.4 billion. J.P. Morgan also had a surge in bond-trading revenues during the fourth quarter.
Citigroup’s earnings got a boost from strong fixed-income trading as well, with revenue from that business surged 49%. Shares of the banking giant gained 2.6%.
Delta Air Lines also reported better-than-expected earnings, boosted by lower fuel costs and strong travel demand. The results sent Delta shares higher by 3.5%.
The pan-European Stoxx 600 closed provisionally 0.24% higher having jumped between red and black multiple times during a choppy session. Household goods stocks added 0.65% on average and travel and leisure stocks notched a 0.75% gain. Toil and gas sector slipped 0.39% lower.
Source: CNBC

SERBIA:

New cars sale in Serbia increases by 10% in 2019

Last year, the sale of new cars in Serbia increased by 10% compared to 2018., Vecernje Novosti daily writes. Good business year - how car importers described 2018. when 30,731 new vehicles were sold – has been surpassed in November last year when a total of 31, 601 cars were sold. The largest number of vehicles, both passenger and light commercial vehicles, was sold by Skoda – 5,347. The second place went to Fiat with 5,133 vehicles sold while Renault's third with 2,020 vehicles sold. Although eleven months of the year without December were taken into account, the current order is not expected to change when the December sale numbers come in
Source: Ekapija

Serbia will need 30 years to catch up with CEE economies

It will take 30 years for Serbia to catch up with Hungary and 50 years for it to achieve the German living standards, economists Vladimir Gligorov and Milojko Arsic have told Blic Biznis. Gligorov, a long-time associate of the Vienna Institute for International Economic Studies, said that, with a long-term annual growth of 4 pct, Serbia would need between 50 and 85 years to reach the average income per capita of EU economies if they continued to grow at a rate of 2 pct. According to the report, Arsic, a professor at the Belgrade Faculty of Economics, is a little more optimistic, having recently said that catching up with central European economies such as Hungary would take at least 30 years. The condition for that is an annual growth rate of 5 pct during the period, but this is an optimistic scenario for Serbia because "few countries have managed to achieve such a high growth rate over a period of several decades," he said.
Source: Tanjug

AERO: Expansion of terminal planned at Nikola Tesla Airport – Inserted runway, hotel, shopping center, BG Voz underground station... to be built

According to the Detailed Regulation Plan for the Nikola Tesla Airport, the construction of another inserted runway, as well as a hypermarket, outlet and retail parks, a hotel and a congress-business center, is planned. An underground railway station is also planned within the complex. The initiative for the preparation of the Plan was launched by AD Aerodrom Nikola Tesla Beograd. For the part of the plan pertaining to the existing complex of the airport, based on the strategy of development which defines the reconstruction of the runway and the implementation of an inserted runway by 2043, the concessionaire and operator of the Nikola Tesla Airport, VINCI Airports Serbia (Belgrade Airport doo Beograd) has prepared a spatial-program solution defining development through construction and reconstruction, maintenance and management of the infrastructure of the existing airport complex.
Source: Ekapija