Bloomberg Serbia will spend almost 14 billion euros ($15.7 billion) through 2025 as the government seeks to double the rate of economic growth, bringing it into line with the European Union and raising living standards. The new investments were announced as the Balkan nation heads for general elections in late April or early May, and President Aleksandar Vucic is eager …

Bloomberg Equity capital markets bankers won’t be sad to close the door on a miserable 2019 in Europe. Though some of the elements that made for a volatile environment for initial public offerings are still in play, there is reason to hope 2020 will bring fairer weather. Trade tensions have eased after a deal between the US and China this …

Bloomberg The new decade could be the dawn of a tougher era for bond investors, as conditions that sustained the historic bull run in government debt fall away. Unprecedented central bank action has dominated economic stimulus since the global crisis and suppressed yields around the world. The skew may now be shifting more towards fiscal expansion that could pressure rates …

Bloomberg All but the smallest civilian drones would have to broadcast radio tracking data to ensure greater safety and prevent terrorism under a sweeping proposal unveiled by US regulators. The long-awaited draft rules call for a massive new tracking network for everything from toys to larger commercial drones so that law enforcement can spot the devices flying anywhere, from congested …

Bloomberg Barneys New York Inc. has stopped offering clearance merchandise on its websites, which now redirect to Saks Fifth Avenue’s sites. The retailer suspended closeout sales on Barneys.com and Barneyswarehouse.com sites and is transferring the remaining goods to Barneys stores slated to close, according to a representative for B. Riley Financial Inc., the firm handling the liquidation sales. Clearance at …

Bloomberg The Thailand and Malaysian operations of Britain’s largest supermarket chain Tesco Plc. are on the shopping lists of Thai tycoons. Thai billionaire Dhanin Chearavanont’s Charoen Pokphand Group and Central Group, controlled by Chirathivat family, are among companies that are weighing bids for the Southeast Asian business that could fetch more than $7 billion, according to people with knowledge of …

Bloomberg After quietly supplying coffee addicts their daily fix for decades, Vietnam is preparing to take on Nestle SA and its Asian rivals to reach them faster. Instead of selling raw robusta beans to foreign companies for turning into instant coffee, Vietnam’s biggest supplier is preparing to offer its own soluble powder in early 2020. The shift is aimed at …

Bloomberg Creditors of Toms Shoes LLC, the popular footwear seller that’s been struggling to weather declining sales amid a pile of looming debt, have agreed to take over the company in exchange for restructuring its debt. The group of creditors, led by Jefferies Financial Group Inc., Nexus Capital Management LP and Brookfield Asset Management Inc. will assume the ownership from …

ABU DHABI / WAM The UAE has strongly condemned the terror attack by a car bomb on a security checkpoint in Somalia’s capital, Mogadishu, which resulted in death of numerous innocent civilians and the wounding of others. The Ministry of Foreign Affairs and International Cooperation stressed that UAE strongly condemns these criminal acts and fully rejects all forms of violence, …

Bloomberg The transitional government in Sudan is planning a set of economic and political reforms, including removing fuel subsidies gradually in 2020, Reuters reported, citing Finance Minster Ibrahim Elbadawi. The subsidies for wheat and cooking gas would be retained to help the poor, he told reporters, Reuters said. Subsidies are a major burden on the government’s finances, which have been …