Five important economic events this week

The European Union (EU) imposed new sanctions against Russia, with the list of sanctioned companies including one from Serbia which has been for circumventing trade restrictions.

This is one of the five important economic events that will mark the week ahead of us.

  1. EU includes Serbian company Conex in the list of companies that have circumvented sanctions against Russia – On Friday, the Council of the European Union (EU) adopted the 13th set of trade sanctions against Russia (the day before the two-year anniversary of the beginning of the military intervention in Ukraine), and due to the circumventing earlier sanctions, a Serbian company, called Conex, was also on the list of sanctioned companies. The company was founded in 1992 and the company’s last publicly available financial statements date back to 2022. They show that the company had two employees and an annual net loss of 254,000 dinars. In 2014, 2015, 2016 and 2021, the company had zero dinars of income and expenses, as well as zero employees.
  2. Messer Group plans to delist from the Belgrade Stock Exchange – Following media reports, the gas producer and distributor Messer Tehnogas could leave the Belgrade Stock Exchange, as its parent company Messer SE & Co. KGaA submitted a notice of intent to take over the remaining 17.91 percent of the shares it does not own. 
  3. China’s Zijin Mining breaks export records in Serbia – The three biggest exporters in Serbia in 2023 were all Chinese companies. The value of the exports of the 15 largest exporters last year was seven billion euros, of which a third of that amount was generated by Chinese companies that sell copper, gold and steel in foreign markets. Serbia Zijin Mining, the owner of the Čukaru Peki Mine near Bor, was the top exporter last year, the Ministry of Finance announced. The company exported 1.15 billion euros worth of goods in 2023.
  4. Prices of new apartments in Belgrade fell in Q4 of 2023 – The prices of newly built apartments in Belgrade fell by 8% in the fourth quarter of 2023, while the prices of apartments in old buildings in some Belgrade municipalities rose by up to 17%. Also, there was a drop in the number of apartments bought with the help of a bank loan.
  5. State Statistics Office to release new economic data – The State Statistical Office of Serbia will release the data on average wages for December 2023, the producer price indices for January 2024 and the average external trade index prices for 2023.

(Bloomberg Adria, 26.02.2024)

This post is also available in: Italiano

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