INO:

Dow posts worst day since October and turns negative for the year as coronavirus fears grow; European stocks close sharply lower as China virus fears intensify; Stoxx 600 down 2%

Stocks tanked on Monday after more cases of the coronavirus were confirmed over the weekend, ratcheting up worries over the virus’ impact on the world economy.
The Dow Jones Industrial Average fell 453.93 points, or 1.6% to 28,535.80, wiping out the average’s gains for the year. The 30-stock average also notched its biggest one-day fall since October along with its longest losing streak since August. The S&P 500 dropped 1.6% to 3,243.63, snapping a 74-session streak without a 1% decline. The Nasdaq Composite had its worst day since August, dropping 1.9% to 9,139.31.
European stocks closed sharply lower on Monday as fears over the economic fallout from the Chinese coronavirus outbreak intensify. The pan-European Stoxx 600 ended the session 2.3% lower, with the China-exposed basic resources sector plunging 4.3% to lead losses as all sectors and major bourses traded firmly in negative territory.
Travel stocks took a significant hit from coronavirus fears in early trade, with Air France KLM shares falling 5.6%, while British Airways parent International Consolidated Airlines Group slid 5.4% and London-listed Easyjet shed 5%.
Source: CNBC

SERBIA:

Srbijagas to intensify gas network expansion by 2022 to curb air pollution

State-owned monopoly Srbijagas plans to accelerate the expansion of Serbia's natural gas supply network by 2022 in an effort to reduce air pollution, the head of the company, Dusan Bajatovic, has said. "With the exception of eastern Serbia, we will practically start gasification everywhere around the country this year. Our plans, which were approved by the government, envisage Serbia to be gasified at 70% in 2022," Bajatovic said in a video file posted on the website of public broadcaster RTS on Thursday.
Source: SeeNews

New model Fiat Giardiniera to be manufactured in Kragujevac – Car to debut in 2021, sales to start no later than 2023

A new model from Fiat Kragujevac, Giardiniera, will become available in 2022 or 2023 at the latest, and the debut will take place at the Geneva Motor Show 2021, Italian media report. The long awaited model from Kragujevac, which will replace Fiat 500L, whose manufacture started in 2012, should become commercially available in two years, and the official presentation is scheduled for 2021, at one of the largest car shows in the world, the Geneva Motor Show, according to specialized car magazines from Italy. As they report, Pietro Gorlier, the Chief Operating Officer of Fiat Chrysler for Europe, Middle East and Africa, is expected to reveal an operating plan for the European factories of this automotive giant
Source: Ekapija

Subsidies for Serbian gazelle companies up to 12.5mln dinars

According to World Bank statistics, high-growth enterprises, also known as gazelle companies, make up just 5 pct of Serbian companies but account for 77 pct of jobs created in the country. This year, the government earmarked subsidies worth up to 12.5 mln dinars for such companies. Any remaining project value will be financed from a Development Fund loan under favourable terms. The conditions for awarding the grants are set in a decree on establishing a programme aimed at encouraging entrepreneurship through development projects in 2020, which took effect last Thursday. The programme, carried out by the Ministry of Economy in collaboration with the Development Fund, envisions 850 mln dinars of grants out of a total 3 bln dinars of budget subsidies for entrepreneurship in 2020.
Izvor: Tanjug