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6-December-2019 19:14 BELGRADE - Stock market activity on the Belgrade Stock Exchange (BELEX) was low on the last trading day of the week and indices saw a mixed performance but closed with major w-o-w gains. The overall turnover was 15.2 mln dinars (129.8 thousand euros). The BELEX15 index slid 0.3 pct to 777.60 points but rose nearly 0.9 pct w-o-w, while BELEXline remained steady at 1,694.83 points, strengthening by 1.5 pct w-o-w.
6-December-2019 18:37 BELGRADE - Serbia's public debt stood at 23.97 bln euros at the end of October 2019, which is a slight change from September, the Serbian Ministry of Finance announced on its website Friday. At 52 pct, the debt-to-GDP ratio was steady in October compared to the previous month. At the end of 2018, the public debt totalled 23.01 bln euros - or 53.8 pct of GDP.
6-December-2019 18:18 BELGRADE - Serbia's budget surplus stood at 64.8 bln dinars at the end of October, and a 14.9 bln dinar surplus was registered in October alone, the Ministry of Finance said on its official website Friday. Revenues totalled 1,047 bln dinars and expenditures were at 983.1 bln dinars. October revenues were at 118.7 bln dinars, with tax revenues accounting for 102.5 bln dinars.
6-December-2019 17:16 BELGRADE - The Serbian pharmaceuticals company Hemofarm will end this year with a total output of 5.7 bln tablets and other forms of medicines, or around 280 mln medicine packages, says Hemofarm CEO Ronald Seeliger. Speaking at the company's New Year gathering late Thursday, he said 2019 was one of the most successful years in the recent history of Hemofarm, which he said had set a triple record - in terms of production output, product portfolio as well as sales. He said the Hemofarm product portfolio would at the end of the year be comprised of 3,150 different products.
6-December-2019 16:25 BELGRADE - The Serbian parliament on Friday passed a set of tax laws including amendments to the Law on Contributions for Compulsory Social Insurance reducing the pension and disability insurance rate from 26 pct to 25.5 pct. The MPs also passed amendments to the Individual Income Tax Law raising the non-taxable amount of monthly earnings from 15,300 dinars to 16,300 dinars. Finance Minister Sinisa Mali said during the debate the tax burden on earnings would be reduced from 62 pct to 61 pct.
6-December-2019 15:10 BELGRADE - The Serbian parliament on Friday passed amendments to the Pension and Disability Insurance Law introducing the so-called Swiss pension indexation formula from January 1, 2020. This practically means that a population of 1.7 million people in Serbia will receive pensions that will grow according to a model aligning them with 50 pct of the inflation rate and 50 pct of the average wage growth rate. Finance Minister Sinisa Mali has said earlier this was the best and the most just model for senior citizens.
6-December-2019 14:34 BELGRADE - The European Bank for Reconstruction and Development (EBRD) is working on a feasibility study for a solar thermal project in Pancevo, northern Serbia, that includes the construction of 35,000 sq m of solar collectors and 150,000 cubic m of underground seasonal storage, says EBRD Western Balkans director Zsuzsanna Hargitai.
6-December-2019 13:00 BELGRADE - Works on the construction of the Morava Corridor will begin on December 15 on a location near Krusevac, central Serbia, Tanjug learns. A 745 mln euro commercial agreement on the construction of a Pojate-Preljina section of the E-761 motorway, dubbed the Morava Corridor, was signed on Thursday with Serbian President Aleksandar Vucic in attendance. It was inked by Serbian Minister of Construction, Transport and Infrastructure Zorana Mihajlovic and representatives of the Turkish-US consortium Bechtel Enka UK Limited, Michael Wilkinson and Mehmet Tara.
6-December-2019 12:27 BELGRADE - Following a decision declaring it bankrupt, the Sabac, western Serbia-based concern Farmakom MB, appraised to be worth around 1.2 bln dinars, has been put up for sale. Its property consists of lead, antimony and zinc mines at Rujevac, Stolice, Kik Dolic and Ravnaja, as well as immovable property at Planina, Brstica, Kostajnik, Likodra, Krasava, Tolisavac and Zavlaka and associated movable property and receivables, the eKapija portal reported. A Sabac transformer station, appraised at 4.7 mln dinars, as well as inventories at Dobric, equipment at Guca and office furniture at the company's Belgrade office is also up for sale.
5-December-2019 19:28 BELGRADE - The Serbian dinar's median exchange rate against the euro will be 117.5121 dinars for one euro on Friday, which is a slight change from Thursday, the National Bank of Serbia (NBS) announced. The dinar will remain steady against the euro m-o-m, rising 0.5 pct y-o-y and 0.6 pct compared to the beginning of the year. The indicative exchange rate against the dollar rose 0.2 pct to 105.8477 dinars for one dollar on Thursday.
5-December-2019 15:02 BELGRADE - Serbian logistics company Nelt Group will end this business year with 950 mln euro revenues, which is a 5 pct increase compared to the previous year, says CEO Milos Jelic. At Wednesday's presentation of the company's business results, he said Nelt Group had invested 15 mln euros in regional integrated logistical services. "Despite challenges, we are planning further investments in improvement of services, new technologies and process optimisation. We want to continue organic growth, boost efficiency and create added value by creating or acquiring new FMCG and pharmaceutical brands," Jelic said.
5-December-2019 14:27 SABAC - The construction of a Ruma-Sabac-Loznica motorway/expressway began on Thursday near Sabac, western Serbia, where a new bridge across the Sava River will also be built. A ceremony marking the start of works was attended by Serbian President Aleksandar Vucic and Minister of Construction, Transport and Infrastructure Zorana Mihajlovic, as well as by Karaman Ahmedov, vice president of the project contractor - the Azerbaijani construction company Azvirt - and Azerbaijani Ambassador to Serbia Eldar Hasanov. The project to build the 77 km route is estimated to be worth 467.5 mln euros.
4-December-2019 19:03 BELGRADE - The Serbian dinar's median exchange rate against the euro will be 117.5291 dinars for one euro on Thursday, which is a slight change from Wednesday, the National Bank of Serbia (NBS) announced. The dinar will remain steady against the euro m-o-m, rising 0.6 pct y-o-y and compared to the beginning of the year. The indicative exchange rate against the dollar rose 0.2 pct to 105.8630 dinars for one dollar on Wednesday.

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