SERBIA:
Serbia planning highway between Ruma and Sabac – Azerbaijan looking to build high-speed route Sabac-Loznica
Serbian Minister of Construction, Transport and Infrastructure Zorana Mihajlovic talked with Ambassador of Azerbaijan to Serbia Eldar Hassanov about new joint infrastructural projects of the two countries. As reported on the website of the Government of Serbia, Mihajlovic pointed out at the meeting, which was attended by representatives of Azvirt, that it was important for the Government of Serbia for the realization of the projects discussed by the presidents of Serbia and Azerbaijan during the recent visit of the Serbian delegation to Baku. Primarily, the idea is to build a 22-km Ruma-Sabac highway and a 55-km high-speed route Sabac-Loznica, Mihajlovic pointed out.
Source: Ekapija
Serbia's defence industry exports to rise to $670 mln in 2018
Serbia's defence minister Aleksandar Vulin said on Tuesday the total exports of the country's defence industry are expected to rise to $670 million (579.7 million euro) in 2018 from $570 million last year. The exports of Serbia's defence industry have quadrupled between 2012 and 2017 as a result of the reforms carried out by the government, Vulin said in a video file posted on the website of news agency Tanjug.
Source: SeeNews
Serbian parliament endorses Belgrade mayor as finance minister
Serbia's parliament endorsed on Tuesday Belgrade mayor Sinisa Mali as finance minister, to replace Dusan Vujovic who resigned earlier this month for personal reasons. A total of 154 of 250 deputies voted in favour of the appointment of Mali, 30 were against and 66 were not present during the vote, which was broadcast live on the website of the Serbian National Assembly.
Source: SeeNews
REGION:
Chinese Hisense makes public takeover bid for remaining 67% stake in Gorenje
The company Hisense Luxembourg, a member of China's Hisense Group, made a public bid for the takeover of the remaining 67% stake in Slovenia's Gorenje at EUR 12 per share today. The takeover bid was published in today's issue of the Ljubljana-based daily Delo and is open until June 26, the Slovenian agency STA reports.
Source: Ekapija
INO:
Dow drops nearly 400 points after Morgan Stanley, JP Morgan lead bank stock tumble, Italy stocks close 2.6% lower on political turmoil as European markets slump
U.S. stocks sank Tuesday amid political turmoil in Italy that sent the euro tumbling and ongoing difficult trade talks with China. Bank stocks led the decline. The Dow Jones industrial average was down 1.58%, S&P 500 fell 1.16 percent to close at 2,689.86, while the Nasdaq composite fell 0.5 percent to finish at 7,396.59.
Concerns about a global credit blight and anemic interest rates appeared to weigh on U.S. financial stocks Tuesday, sending shares of the nation's largest banks tumbling. Goldman Sachs, J.P. Morgan, Citigroup, Morgan Stanley and Bank of America all lost more than 3 percent.
Morgan Stanley, clinched its worst day since June 2016, down 5.75 percent. The slide in the company's stock occurred after an executive cited more challenging business conditions in the second quarter for its wealth management division.
European stocks closed lower Tuesday amid renewed fears of a euro zone break-up risk in Italy and political turmoil in Spain. The pan-European Stoxx 600 closed 1.37 percent lower provisionally, with all major bourses and every sector apart from oil in negative territory.
Europe's banking index led the losses Tuesday, off almost 3.2 percent, on pace for its worst day since August 2, 2016. Spanish lenders Banco Santander and Caixabank and Italian lender Unicredit were among the worst performers in the sector.
Looking at individual stocks, Dixons Carphone tumbled to the bottom of the European benchmark after it issued a profit warning. The British retailer said profit would fall by 21 percent in the current year, with 92 standalone stores also set to close. Its shares were more than 20.7 percent lower on the news.
Source: CNBC