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Balkan News

Bosnian Serbs Halt Cooperation with State Police, Court

Balkaninsight.com - Thu, 10/12/2015 - 15:32
Bosnia’s Serb-dominated Republika Srpska entity has suspended all cooperation with the state-level police, court and prosecution in a dramatic escalation of the country’s political crisis.
Categories: Balkan News

Guardian Highlights Battle Over Belgrade Waterfront

Balkaninsight.com - Thu, 10/12/2015 - 14:23
Conflicts over the biggest development in the Serbian capital in decades are in the spotlight in the UK Guardian newspaper.
Categories: Balkan News

Kosovo Close to Finishing Power Cable to Albania

Balkaninsight.com - Thu, 10/12/2015 - 14:07
Kosovo is close to completing its part of the German-financed 400kV electricity transmission line to Albania - which will lower import costs and create a common 'Albanian' power market.
Categories: Balkan News

Hague Prosecutor Slams Serbia’s Welcome for War Criminal

Balkaninsight.com - Thu, 10/12/2015 - 13:05
The chief prosecutor at the Hague Tribunal, Serge Brammertz, criticised Serbia for giving a hero's welcome to a former Yugoslav Army general released after serving a war crimes sentence.
Categories: Balkan News

Bosnia Arrests Five for Bosanski Novi War Crimes

Balkaninsight.com - Thu, 10/12/2015 - 12:09
Five men have been arrested on suspicion of having committed war crimes against Bosniaks in the Bosanski Novi area in 1992 - a move which has infuriated the Bosnian Serb authorities.
Categories: Balkan News

Belavia will launch services from Minsk to Serbia's Belgrade starting Sep 19

Balkans.com Business News / Serbia - Wed, 09/12/2015 - 21:20
The national carrier of Belarus, Belavia, will launch services from Minsk to Belgrade starting September 19. Flights will run twice per week, every Monday and Thursday onboard the fifty seat Bombardier CRJ200. The service will operate with a stop in Budapest. The Belarusian carrier has requested fifth freedom rights on the Budapest - Belgrade - Budapest sector. However, so far the airline has not been granted such rights. Tickets are already on sale but only on between Minsk and Belgrade and vice versa (though they are not yet available on the airline’s website). Flight details for the Minsk - Belgrade service can be found here while further information for the Budapest - Belgrade sector can be found here. Belavia first announced plans to launch services to Belgrade in November last year after the two countries agreed on a bilateral air agreement. Several years ago it was planned for the airline to launch winter charters from Minsk to Niš Constantine the Great Airport, however, the airline and hoteliers at the nearby mountain resort of Kopaonik failed to reach an agreement. Thus, the flights never went ahead. Several airlines from the former Soviet Union have operated flights to Belgrade in the past few years. They include airBaltic from Riga, Aerosvit from Kiev and Uzbekistan Airlines which operated flights from Tashkent to New York via the Serbian capital. The Belarusian national carrier offers an extensive network to Russia and will hope to attract transit passengers from Belgrade. The Belgrade - Moscow route is one of the busiest operating out of the Serbian capital with 28 weekly flights planned over the peak summer months. In May alone Aeroflot and Jat carried a combined total of 21.953 passengers between the two cities. Belavia has previously said it is especially hoping on attracting passenger from Belgrade to Saint Petersburg. Belavia becomes the third new scheduled airline to launch flights to Belgrade Nikola Tesla Airport this summer season following easyJet and Etihad Airways.
Categories: Balkan News

Accession talks with Serbia should start by Jan 2014-van Rompuy

Balkans.com Business News / Serbia - Wed, 09/12/2015 - 21:20
President of the European Council Herman van Rompuy stated that EU leaders decided that the accession talks with Serbia should start by January 2014, which is a historic moment for the Balkans and Europe as a whole.Van Rompuy underlined at a press conference that there are no new conditions for the start of negotiations and announced that in January 2014 an inter-governmental conference with Serbia will be held, by which negotiations on EU membership will be opened formally.He also announced his visit to Belgrade on 1 July during which he will highlight the importance of the progress made in the process of European integration.President of the European Commission Jose Manuel Barroso welcomed the decision to set the date for the start of negotiations with Serbia, describing it as a historic event.  Source: Serbian Government
Categories: Balkan News

Serbia - in need of an anchor-Outlook

Balkans.com Business News / Serbia - Wed, 09/12/2015 - 21:20
We visited Belgrade last week, where we met with the local representatives of the IMF, European Union, European Bank for Reconstruction and Development, Central Bank, Finance Ministry, Fiscal Council and local journalists. We believe the government will ultimately have to sign an IMF deal as its macroeconomic imbalances are far too great for it to go it alone. But before then, we expect to see heightened political uncertainty, which will weigh on the sovereign credit. Things will get worse before they get better. Establish underweight Serbia USD 21s vs. Slovenia USD 22s.The economy has enjoyed a bounce back in the first half of the year. But this has almost entirely been based on exports from a single manufacturing company and agricultural base effects. The contraction in private consumption is likely to continue this year and next as real wages and employment levels fall further. We expect growth to be capped at 2% in 2013 and 2014. Balance of payment dynamics are poor, with the current account deficit at ~8% of GDP, with minimal coverage from FDI inflows and heavy reliance on portfolio inflows. Current market conditions leave Serbia vulnerable. But the central bank's substantial FX reserves give us some comfort and their active presence in the FX market make long RSD vs. EUR an attractive trade, particularly given the ~9% carry. But that's one for the brave. The government's target of reducing the budget deficit from 6.4% of GDP last year to 3.6% this year is already out of the window. A new supplementary budget now targets a general government budget deficit of 5.2%. Risks are skewed towards further fiscal slippage given optimistic growth assumptions and reliance on various cost savings at numerous ministerial levels. Calling the rest of the USD 24s is off the table in our view. The government's financing conditions are looking tight and fiscal reserves have dwindled after heavy redemptions in May. The government is relying on a further USD 1bn of issuance in the external market and USD 1.3bn of issuance in local market. USD 300mn from Russia, USD 200mn from the World Bank and USD 400mn of project loans will also be needed. IMF deal will eventually have to be signed. Serbia's macroeconomic imbalances are far too great for it to go it alone. Nothing will happen, however, in the next few months due to logistical factors and summer holidays. After the EU decision on whether or not to grant Serbia a date for the start of accession talks, attentions will be re-focused to internal matters, particularly the politics. A government re-shuffle will be the least of the political instability that is on the horizon. Full coalition break-up and early elections cannot be ruled out. Trade idea: There is not much room for good news over next 2 months. Establish underweight Serbia USD 21s vs. Slovenia USD 22s.bne/RBS
Categories: Balkan News

German Bundestag opens door for Serbia's long anticipated EU aspirations

Balkans.com Business News / Serbia - Wed, 09/12/2015 - 21:20
Like an anxious bride-to-be, Serbia has been desperately seeking positive signals for a firm date to begin both the celebrations and hard work that would result in a union with the European Union.Meanwhile, the tentative groom--by way of the German Bundestag-- appears to have finally relented and has set out conditions for Serbia's inevitable membership in the EU.Thursday's vote in the Bundestag essentially removed any significant obstacle to the European Council meeting on Friday in Brussels, which is expected to follow through with the German recommendations that Serbia begin the negotiation process with the EU in January of 2014, if Serbia complies with a number of key conditions, most importantly if it achieves "normalization" with its breakaway province of Kosovo by year's end.For Serbia, which has for years maintained a twin-track policy of working toward EU accession while defending its territorial integrity, the prospect of an actual date to begin negotiations with the EU may prove too attractive a carrot for the country-- economically and politically battered since the breakup of the former Yugoslavia--to maintain the pretense of sovereignty over Kosovo.The fact that Kosovo's independence has been championed by leading EU member states and the U.S. has left the Serbian nation wounded and deeply skeptical, but does potentially represent the closing chapter in the sad and bloody tale of the implosion of the former Yugoslavia. The patent contradiction of forcing Serb minorities to live in emerging states of the former Yugoslavia, by claiming the sanctity of borders of all former republics of Yugoslavia--with the exception of Serbia--is not lost on the average Serb.bne/Xinhua
Categories: Balkan News

Johnson Electric to open factory in Nis, Serbia

Balkans.com Business News / Serbia - Wed, 09/12/2015 - 21:20
Serbia's Minister of Finance and Economy Mladjan Dinkic and Johnson Electric Director for Europe Laurent Cardon signed a memorandum of understanding, under which the company will build a factory of electric motors in Nis used in the automotive industry. Dinkic said after the signing that this is the first foreign investor from Hong Kong in Serbia, adding that the company last year had a turnover of more than $2 billion in the world's top electronics industry.He noted that the company has seven factories in Europe, i.e. in Switzerland, Italy, France, Poland and Hungary, adding that the value of investments in Nis in the first phase of the project is €15 million.The Minister pointed out that the strategy of the government of Serbia is to help launch production and create jobs through new investments, noting that the factory will have 1,000 employees in the first phase.He also announced construction of another plant of the company Leoni, which will employ approximately 1,500 people. Source: Serbian Government
Categories: Balkan News

Montenegrin Govt. revises budget to cover KAP losses

Balkans.com Business News / Montenegro - Wed, 09/12/2015 - 21:20
The Montenegrin government revised its 2013 budget on Thursday, proposing additional expenditures and borrowing to cover debts of country's loss-making aluminum smelter.In the draft proposal, the government said it plans to use 61 million euros ($79 million) to cover unpaid electricity bills of the Kombinat Aluminijuma Podgorica (KAP) aluminium smelter to Elektropirvreda Crne Gore (EPCG) electro power producer and retailer.bne/Reuters
Categories: Balkan News

Montenegro signs 4 cooperation agreements with Ukraine

Balkans.com Business News / Montenegro - Wed, 09/12/2015 - 21:20
Montenegro's Prime Minister Milo Đukanović paid an official visit to Ukraine, where he met with Ukraine’s President Mikola Azarov for talks on boosting economic cooperation between the two countries.The two officials expressed satisfaction with the growth of cooperation in the area of tourism, adding that the best impetus to further improvement of the cooperation would be the establishment of direct and regular air service between the two capitals.Prime Minister Đukanović and President Azarov  also discussed the volume of trade exchange between the two states and agreed that the advanced cooperation, in particular in the areas of energy supply and food production, would significantly increase both investments and volume of foreign trade exchange.Prime Minister Đukanović met in Kiev with Ukrainian business people interested in investing in Montenegro, which was an opportunity for presenting Montenegro’s potentials and strengthening economic ties between the two countries.He also participated in the annual conference titled “Ukraine and Partners”, which brought together head of states and representatives of leading investment, financial, banking and business structures.PM Đukanović revealed in Kiev the monument of Petar II Petrović Njegoš, a famous Montenegrin poet and statesman from the 19th century, a prominent member of the old Montenegrin ruling family Petrović.Montenegrin and Ukrainian governments officials signed in Kiev four agreements related to international road transport, cooperation in case of natural and other catastrophes, cooperation in combating crime and an agreement on scientific and technological cooperation and in the field of youth, sports and physical culture. Government
Categories: Balkan News

Montenegro and Kuwait discuss establishing a Joint Committee for Economic Cooperation

Balkans.com Business News / Montenegro - Wed, 09/12/2015 - 21:20
Montenegro's Finance Minister Dr Radoje Žugić met with the Ambassador of the State of Kuwait and the Republic of Serbia, non-resident Ambassador to Montenegro, Fawzi A. Al-Jasem.Interviewees were very positively evaluated the relations between the two countries and pointed out that there is room for further improvement of cooperation, especially in the economic sphere. To this end, Ambassador Al-Jasem said that Kuwait is interested to Montenegro establish a Joint Committee for Economic Cooperation, which would contribute to further improvement of relations between Kuwait and Montenegro. The interlocutors agreed that, in future communication, working together on the implementation of this idea. Ambassador Al-Jasem also conveyed interest Kuwaiti Development Fund, under favorable conditions, financing infrastructure projects in Montenegro. Government.
Categories: Balkan News

Montenegro adopts special cultural protection law for Kotor

Balkans.com Business News / Montenegro - Wed, 09/12/2015 - 21:20
The Government of Montenegro analyzed the bill on the final account for the 2012 Budget of Montenegro. The economic situation in Montenegro and PF were strongly influenced by the crisis, followed by internal structural weaknesses and vulnerabilities of the fiscal system, as well as the extremely poor weather conditions at the beginning of the year, which caused a slight decline in the economy of 0.5 percent. economic flows in last year confirmed that the tourism sector and small and medium enterprises will remain a growth engine for the Montenegrin economy. The growth of tourism revenue of 4.3 percent growth generated by service industries such as retail and transportation. Foreign direct investment recorded a growth reaching almost 13.6 percent of the estimated GDP for year 2012. year. Stability of the financial system has been confirmed through the steady growth of deposits of population and economy, as an expression of confidence in the banking system, and restrictive measures to reduce government spending have enabled the provision of insufficient funds on favorable terms from the World Bank. The main obstacle to growth of economy remains a lack of liquidity of the economy and reduced bank lending, which hinder business enterprises, implementation of business ideas and projects, as well as a collection of state revenues, affecting the growth of the tax debt. government adopted a report on public debt and issued guarantees Black Gore, at 31 December 2012 year, as well as report on the state aid granted in Montenegro 2012. The Draft Law on the protection of natural and cultural - historical area of Kotor was adopted. Special protection areas Kotor is established in order to preserve its outstanding universal value, as part of the world's natural and cultural heritage, permanent preservation of authentic natural, historic, urban architecture, ambience and artistic values, as well as providing the conditions for sustainable development and utilization, presentation and professional and scientific evaluation. Each of these goals has a crucial importance for defining regimes and protective measures to be implemented prior to or during any action or activity which may threaten the protected value of this specific area or of its individual parts. At the meeting also discussed the current situation in the KAP aluminum Podgorica . Government
Categories: Balkan News

Montenegro's PM plans talks with Ukranian businesses

Balkans.com Business News / Montenegro - Wed, 09/12/2015 - 21:20
Montenegro's Prime Minister Milo Djukanovic , at the invitation of his counterpart - the Prime Minister of Ukraine Mikola Azar , Visting 13th and 14 June official visit to that country, where he will hold talks with top officials.During the visit will be discussed prospects for further improvement of the political and overall bilateral relationship, and identify specific projects and activities of mutual interest.In addition to meeting with top officials of Ukraine, the Prime Minister will talk with a group of Ukrainian businessmen interested in investing in Montenegro, which will be an opportunity to present the potential of our country and the strengthening of economic and trade and economic relations.Prime Minister Djukanovic will discover Kiev monument to Peter II Petrovic Njegos, and will speak and participate in the First International Annual Conference "Ukraine and partners." The conference was organized at the level of the Prime Minister, with the participation of the major leading investment managers, financial, banking and business structures.During the visit will be signed and agreements on international road transport of passengers and goods, on cooperation in the field of protection against natural and other disasters; cooperation in the fight against crime, on scientific and technological cooperation and cooperation in the field of youth policy, physical culture and sport.The delegation of the Government of Montenegro and the Ministers of Sustainable Development and Tourism, and Agriculture and Rural Development Branimir Gvozdenovic and Petar Ivanovic and advisors of the Prime Minister Milan Rocen andNebojsa Kaluđerović . Government
Categories: Balkan News

Standard and quality pose challenge to FYR Macedonia's agriculture

Balkans.com Business News / Macedonia - Wed, 09/12/2015 - 21:20
Better education, assistance from scholars and support from the state are the three key factors that are necessary for improving postharvest activities in (FYR) Macedonian agriculture.The business sector must be included in the process of advancing agricultural practices, Israeli experts urge. The quality of fresh fruit and vegetables will not only improve the competition at home, it will also enable better promotion on foreign markets."Shortcomings have been detected in calibration, storage, cooling, packaging... An overall approach is necessary for better postharcest activities," Minister of Agriculture, Forestry and Water Management Ljupco Dimovski said Tuesday after a meeting with Israeli experts.Brett Hickson of the Israeli Ministry of Agriculture stressed the need for cooperation between all those involved."The Government plays a vital role, however the private sector needs to be included in the process as well. Export and promotion of (FYR) Macedonian products in foreign countries must be achieved. Improvement of quality and standards is the only way," he said.The (FYR) Macedonian-Israeli project on the advancement of (FYR) Macedonia's agriculture lasts for a year.  Source: Government
Categories: Balkan News

(FYR) Macedonia's National Bank began with the implementation of the ICAAP project

Balkans.com Business News / Macedonia - Wed, 09/12/2015 - 21:20
(FYR) Macedonia's National Bank began with the implementation of the project titled as Support in preparation and implementation of NBRM methodology for evaluation of banks Internal Capital Adequacy Assessment Process frameworks.  The Project is financed by the European Union through the Project Preparation Facility within the National Program for 2009 as part of the Instrument for Pre-Accession Assistance in the amount of approximately Euro 110 000. The objective of the National Bank, as an institution responsible for bank supervision, is ongoing improvement of the banking regulations, taking into consideration also the new Basel principles for efficient bank supervision. Accordingly, the Project aims at improvement of the Internal Capital Adequacy Assessment Process (ICAAP), within the supervision in concordance with the national regulations, as well as in accordance with the New Capital Accord Basel II.The Project will be realized on the basis of services contract, and it will last seven months. Source: (FYR) Macedonia's National Bank/Governor's Office
Categories: Balkan News

WB report foresees 1.4-pct growth for FYR Macedonia in 2013

Balkans.com Business News / Macedonia - Wed, 09/12/2015 - 21:20
FYR Macedonia's GDP will grow by 1.4 percent in 2013, according to the latest World Bank South East Europe Regular Economic Report published on Tuesday. The group of six South East European countries made a fragile recovery: its combined real GDP is projected to grow 1.7 percent in 2013 after a 0.6-percent decline in 2012, according to the report.bne/Xinhua
Categories: Balkan News

FYR Macedonia investment opportunities presented in Malaysia

Balkans.com Business News / Macedonia - Wed, 09/12/2015 - 21:20
The Chamber of Commerce of Malaysia presented to its members the conditions and opportunities for investment and development of commercial relations with FYR Macedonia. Invest (FYR) Macedonia’s CEO, Visar Fida together with Economic Promoter Toni Atanasovski after their meetings on April with the representatives from Malaysian Chamber of Commerce, and continued its cooperation. "A relatively unknown market of this region may also be a good opportunity for export of FYR Macedonian products. Pay great attention to the promotion of FYR Macedonia in Malaysia and the region, in order to make good use all opportunities for investment and export promotion"- stated Mr.Fida. Malaysian and other ASEAN member countries have the capacity to invest outside the region, and specifically targeted as the companies that already require expansion of existing facilities and have existing cooperation and export to the European Union. Government
Categories: Balkan News

FYR Macedonia modifies health care law

Balkans.com Business News / Macedonia - Wed, 09/12/2015 - 21:20
FYR Macedonia's Minister of Health Nikola Todorov at a press conference announced the amendments to the health care law, passed by the Parliament.This law has been established to provide funds from excise taxes on beer and alcohol, or 1 penny to 1 liter of beer and 40 denars per 1 liter of pure alcohol. Funds will be allocated to the Ministry of Health, primarily to fund promotional programs of the ministry. These provisions will begin to apply from 13 July 2013.- We expect this amount to range between 250 and 300 million denars per year and will seriously help improve public health in the country, said Todorov.Minister of Health explained that the chosen physician is obligated to refer patients to secondary and tertiary level health care specialist advisory services through electronic list of appointments and interventions. With this change, he said, it brings the concept of electronic reference and electronic prescriptions. Government
Categories: Balkan News

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