INO:

Dow falls more than 100 points as market’s attempt to rebound from sell-off fails; European stocks close mixed as coronavirus spreads further

The Dow Jones Industrial Average fell on Wednesday, extending its sharp weekly decline, as the 10-year Treasury yield traded at a record low amid concerns over the coronavirus spreading even further. The 30-stock Dow closed 120 points lower, or 0.5%, after being up as much as 461.42 points, or 1.7%, earlier in the session. The S&P 500 fell 0.4% after rallying more than 1% to start off Wednesday’s session. The Nasdaq Composite was up just 0.2% after rising as much as 2%.
European markets closed mixed Wednesday, after the number of coronavirus cases outside of China exceeded those inside the country for the first time. The pan-European Stoxx 600 provisionally closed slightly below the flatline, paring some earlier losses. Travel and leisure stocks were the worst performers, down more than 2%.
Groupe PSA beat full-year revenue estimates and reported a 13.2% rise in annual net profit. The Peugeot maker also raised its dividend despite warning that it expects a 3% decline in the European auto market this year. PSA shares jumped 5%.
Source: CNBC

SERBIA:

Investments must be key driver of Serbian GDP growth – economists

The announced modification of the so-called Swiss pension formula in Serbia can be understood as a government intent to boost consumption and the multipliers of economic development, says Dragan Djuricin, professor at the Belgrade Faculty of Economics and a member of the Kopaonik Business Forum Programming Committee. "All that is possible if there is real fiscal space," Djuricin said Tuesday, adding that long-term development requires investments. Serbian Association of Economists Aleksandar Vlahovic agrees, adding that investments should be the key driver of GDP growth. "The pace of growth of public sector wages and the accompanying pensions should be on par with the pace of GDP growth, and the higher the GDP growth rate, the higher the rates of wage growth and consumption will be," he said.
Source: Tanjug

Serbia's Q1 growth to be highest in Europe, March average wage 515 euros, President says

The March average wage in Serbia will be 515 euros, Serbian President Aleksandar Vucic said Wednesday. In an appearance on O2 TV, he said Serbia would become the Western Balkans' leader in terms of the average wage and that the country's Q1 2020 growth would be the highest in Europe. The average wage was 510 euros in December, as opposed to 340 euros a few years ago, he said.
Source: Tanjug

Jadarite exploitation could start in late 2024 or early 2025

Serbian Minister of Mining and Energy Aleksandar Antic on Wednesday said jadarite exploitation as part of Rio Tinto's Jadar Project near Loznica, western Serbia, could be expected to begin in late 2024 or early 2025. A significant phase of project development is now underway, Antic said, adding that geological explorations were complete and that Rio Tinto would carry out a series of activities over the next 18 months to prepare a feasibility study, certify the reserves and apply for a permit to build a mine.
Source: Tanjug