Monday, August 23, 2010

Linked2Balkan out of office

The Linked2Balkan office will be closed, from the 24th of August till the 9th of September. If necessary, you can contact us via email: info@linked2balkan.com.



Consumer opinon survey, Slovenia, August 2010

In August 2010 the consumer confidence indicator was 1 percentage point lower than in the previous month.

Consumer confidence indicator down
In August 2010 the consumer confidence indicator decreased by 1 percentage point compared to July 2010. The decrease was mainly due to more pessimistic estimations of consumers about unemployment in Slovenia over the next 12 months. Compared to the previous month this balance decreased the most (by 4 percentage points) and reached the lowest level after March 2010.

The consumer confidence indicator was 1 percentage point lower than in August last year but 2 percentage points above last year’s average.
The value of the consumer confidence indicator in August 2010 reached the lowest level after May 2009.



















News feed: Statistical Office of the Republic of Slovenia link: publication

Romanian “Dinu” says economic integration is the way forward

After two turbulentdecades at the junction of business and political life in Romania as well asCentral and Eastern Europe, architect-turned-entrepreneur Dan Costache Patriciuor "Dinu,", has some insight into conflict and how to overcome it: economicintegration, common sense and a common understanding, according to HurryietDaily News.

"I think thisregion has a common history, a common culture that goes beyond religion. Ispeak about cultural tradition, a common understanding in business, [thatmakes] relationships very easy to establish," said Patriciu, the chairmanof DP Holding SA € a privately held Geneva-based group that invests in andmanages a range of investments across Europe € and a member of the AtlanticCouncil€™s International Advisory Board.




















News feed: Balkans.com  link: article

Average wages (salaries) July 2010

Average monthly wage (gross) for July 2010 in Montenegro amounted to EUR 696,while average wage without taxes and contributions (net) amounted to EUR 466.      
In comparision with June 2010, average wages without taxes and contributions (net) in July 2010 decreased by 1,5%.            
According to activity sectors average wages without taxes and contributions (net) in July 2010 amounted to EUR 142 in the Fishing and to EUR 944 in the Financial intermediation.          
Having in mind that consumer prices in July 2010 compared to June 2010 increased by 0.2%,it means that real wages without taxes and contributions (net) in Montenegro in July 2010  compared to June 2010 decreased by 1.7%



 News feed: Monstat link: publication

FYROM: National E-Contents Strategy adopted

Modern educational system and better education by using digital technologies in education along with traditional ones is envisaged by the National E-Contents Strategy, which was adopted by the FYR Macedonia Government as part of the concept for electronic education.

At Thursday's promotion of the strategy, Minister of Information Society Ivo Ivanovski said it was a strategic document, which would provide to students an individual approach towards studying with improved knowledge and IT skills.
 
 
 
News feed: Balkans.com link: article

Energy investments in Albania reach 629 mln euros

Albanian Minister of Economy and Energy Dritan Prifti said that energy investments in Albania thus far this year reached a value of Euro 629 million, MIA reports from Tirana.
Albanian Minister of Economy and Energy Dritan Prifti said that energy investments in Albania thus far this year reached a value of Euro 629 million, MIA reports from Tirana.

In the Ministry of Economy and Energy only in the past seven months, 51 requests have been submitted for construction of hydroelectric power stations, 19 contracts for their constructions have been signed. Euro 258 million are envisaged for construction of hydroelectric power stations, Prifti stated.






News feed: EMG link: article

FES: Serbian oligarchs guard Serbia's retail sector from foreign competitors

Friedrich Ebert StiftungSerbia's economy still remains captive to oligarchs who made their fortunes during the Milosevic era, according to Germany's Friedrich Ebert foundation. Their control is putting the brakes on foreign investment.
Serbia's economy still remains captive to oligarchs who made their fortunes during the Milosevic era, according to Germany's Friedrich Ebert foundation. Their control is putting the brakes on foreign investment.

A study conducted by a German think tank has found that Serbian oligarchs guard Serbia's retail sector from foreign competitors by controlling import licences. They then foist inflated prices on the country's consumers.
Furthermore, the study found that the oligarch's have done little to establish Serbian export projects as a way to promote further industrial development the struggling post-communist Balkan nation.




















News feed: EMG link: article

Unemployment in Bulgaria Up 4% Q2 2010 Y/Y

The number of unemployed in Bulgaria, who are over the age of 15, during the second quarter of 2010 is 342 200 people with the unemployment rate reaching 10%.

The data was published Monday by the National Statistics Institute (NSI).

Compared with the second quarter of 2009, unemployment is up nearly 4% or by nearly 120 000 people.



News feed: Novinite.com link: article

Construction in Bulgaria Shows Signs of Recovery

onstruction permits issued in Bulgaria in the second quarter of 2010 are up compared to the first quarter, but down on annual basis. The data was published by the National Statistics Institute (NSI) Monday.

1 441 residential permits have been issued between April and June 2010 for a total of 3 933 apartments. Compared to January – March, 2010, this is an increase of 46% and 41% respectively. On annual basis, compared to the second quarter of 2009 there is a respective reduction of 21% and 13%.

















News feed: Novinite.com link: article 

Greece - Factors to Watch on August 23

Here are news stories, press reports and events which may affect Greek financial markets on Monday:


Greece pushes for stronger banks to weather crisis

Greece wants to shore up its banking system against the backwash of the country's debt crisis and has commissioned a study on how to go about it, reviving speculation that some of its lenders could merge.




















News feed: Reuters link: article

EU education goals: A mixed picture in Eastern Europe

While some of the EU's Eastern member states are confident about achieving the bloc's 2020 education targets, others – Hungary, Bulgaria and Romania – may struggle to satisfy the European Commission's expectations. EurActiv's media network reports.

The agreed goals in the 'Europe 2020' strategy – reducing the share of early school leavers to 10% and making sure that at least 40% of 30-34 year olds have a degree or diploma by 2020 – are EU-wide averages. National targets are to be agreed with the European Commission, meaning that lower results in certain member states can be balanced out by above-average ones in others.



News feed: EurActiv link: article

Friday, August 20, 2010

First Biodiesel Power Plant Launched

Slovenia's first biodiesel power plant, generating nearly one megawatt of electricity and worth EUR 1.3m, was inaugurated in Benedikt (NE) on Thursday. The plant was set up by Panonica Energetika, which is a part of the Panonica agricultural cooperative. Panonica Energetika director Dejan Slemer said at the ceremony that an advantage of the 950 kilowatt plant, which matches the output of Slovenia's biggest solar power plants, is its small size. It stands on only 200 square metres of land.



 






News feed: StaPress link: article

Romania May Raise More Than $2.6 Billion From Energy Company Stake Sales

Romania may raise more than 2 billion euros ($2.6 billion) from the sale of energy stakes as the country seeks to tap capital markets to finance investments, Economy Minister Adriean Videanu said in an interview today.
The government plans to sell minority stakes in key energy companies, including OMV Petrom SA, Transgaz SA and Transelectrica SA, on the Bucharest Stock Exchange this year and two other holdings and a natural-gas producer next year, Videanu said at a press conference in Bucharest today.
“We’ll naturally raise more” than the 2 billion euros, Videanu said. “Romanian energy still looks attractive to potential investors despite much delayed reforms.”






News feed: Bloomberg link: article

Montenegro Reaches for Respectability With Port

“This is better than St. Tropez,” Milo Djukanovic, the prime minister of Montenegro, exclaimed as he took in a display of yachts berthed in this mountain-shrouded bay on the eastern shore of the Adriatic Sea.
Hardly. But if Mr. Djukanovic and a group of foreign businessmen supporting him have their way, the port of Tivat, now just 20 percent complete, could become a new playground for the super-rich and the centerpiece of tiny Montenegro’s audacious effort to clean up its image of corruption and gain entry to the European Union.



News feed: New York Times link: article

Prime minister opens first phase of container terminal in Ploce port

Croatian Prime Minister Jadranka Kosor and Speaker of Parliament Luka Bebic ceremoniously opened the first phase of the container terminal in Ploce port today (Thurs).

The two officials emphasized that development of the port would be of important economic value not only for Croatia's south but for the entire country and some neighbours like Bosnia-Herzegovina and Hungary.



News feed: Croatian Times link: article

Oil platforms in Ploce leased to a Malaysian and Swiss firm?

In the last week of August, a contract should be signed between "FBiH Oil platforms Ploce", Malaysian company “Surija” and Swiss firm "Glorys Finance Corporation" on lease of the premises at the Oil platforms.

Surija’s terms

As quoted by the San, the two foreign companies send their best bids after the Public Invitation issued July, 21 to Croatian and Bosnian media.
Four 10.000m3 containers are to be rented for the period of 5 years. The three are taken by Surija and one by Glorys. The companies are interested to store their fuel there, as soon as September 1.






News feed: Ekapija link: article

Serbs worried about slow EU accession

As Greece slowly moves back from the brink of bankruptcy, a debate is unfolding in Serbia on the extent to which the financial crisis inside the EU could affect Belgrade's Union membership.
European Movement in Serbia Deputy President Tanja Miscevic warned that the Greek crisis could have a political and economic effect on further enlargement of the EU.
A former head of the Serbian EU Integration Office, Miscevic said that Serbia must face the fact that the evaluation of EU candidate countries' progress has become "more serious, more specific and more direct", especially since Bulgaria and Romania joined the union in 2007.







News feed: SETimes link: article

Greece to get second EU-IMF bailout loan

Greece will receive a €6.5bn euro loan from eurozone countries to lift its economy out of dire straits because Athens has made "impressive" cuts to public expenditure, the European Commission announced yesterday.
In total, Greece will receive a €9bn loan, with the largest share at €6.5bn to come from eurozone countries and the remaining €2.5bn to come from the International Monetary Fund.
The Commission said it was satisfied by the progress of the country's economic austerity measures. This latest installment, due to arrive in Greece on 13 September, represents the second tranche of an EU-IMF loan after the country received €20bn in late May.



News feed: EurActiv link: article

Consumers Confused over Bulgaria Gas Prices

Confusing among gas consumers in Bulgaria is growing amid ongoing uncertainty over prices for the beginning of the next heating season.
Angel Semerdzhiev, head of the State Energy and Water Regulatory Commission, said on Wednesday that gas price could fall in the last three months of the year.
“There is a possibility for a drop of gas price in the next quarter,” he told the Bulgarian National Television.







News feed: BalkanInsight link: article

Macedonia Sends More Agents Abroad to Attract Investment

Macedonia plans to send eight more economic promoters abroad, tasked with luring more foreign investment to the Balkan country, strengthening its existing team of 23. The Agency for Foreign Investment this week announced a contest for eight new promoters. The winning candidates will be sent to Belgium, Denmark, South Korea, Canada, Britain, Turkey, the United States and France.
“In some countries, as in Belgium and South Korea, we will be sending promoters for the first time,” Agency officials told Balkan Insight. “In others, as in the US, the new promoters will strengthen the work of the ones already there”.






News feed: BalkanInsight link: article

Thursday, August 19, 2010

BCR: Romania still needs IMF's "guidance" so as not to return to past budgetary excesses

Romania will need further "guidance" from the IMF and the European Commission after the current agreement expires next spring, so that agreed upon reforms should be continued, considering 2012 is an electoral year and past excesses must be shunned, believes Lucian Anghel, chief-economist of BCR, the biggest domestic bank in terms of assets.
"Romania still needs the measures agreed on with the IMF. The Fund could provide Romanian authorities with technical assistance and possibly a new type of loan, which we needn't necessarily draw. We need guidance, we need this 'stamp' of an economy that is recovering under the supervision of international financial institutions," stated Anghel as he presented the bank's quarterly report on macroeconomic targets, which includes projections until 2012.

















News feed: ZF English link: article

Serbia: Indjija to get IT Park

The Community of Indjija informed that the building of the IT Park financed by India’s Embassy Group was likely to continue. The investment had been announced already three years ago and it was supposed to secure as much as 25.000 workplaces.

In 2007, the Embassy Group announced to build its first IT Park in Europe on an area of 270 hectares. The Group planned to build 25.000 square meters of business space in the first project year and employ 2.500 people. The first phase was supposed to be finished by 2011, while the realization of other phases was supposed to take another 5 years.






News feed: Limun link: article

Session on the Croation state budget rebalancing likely to take place on August 25

The extraordinary parliamentary session for rebalancing the budget is likely to take place on 25 August.
That means that, for the first time, deputies will have to return early from their summer breaks. The regular Parliamentary session is scheduled to start on 15 September.


News feed: Croatian Times link: article

BH Gas and Botas agree collaboration

BH Gas had a meeting yesterday with Botas Chairman Fazil Senel, and collaboration was agreed which will allow BH Gas to join the Nabucco gas pipeline project, general executive Almir Becarevic announced.
Collaboration will be defined in a MOU that should be signed in late September or early October in Ankara. Apart from getting access to Nabucco, BH Gas will also profit through increased safety and stability in the supply of gas, Becarevic concerted, and reminded that BH had already agreed to connect to South Stream. Botas is one of investors in the pipeline that will supply natural gas from Azerbaijan and Iraq.










news feed: Limun link: article

Albania: Economy shows positive trend in second quarter 2010

The economic trend indicator showed signs of improvement in the second quarter of the year, reaching the level of 102.3 (+8.4 percentage points) the central bank reported.
However, Economic Trend Tendency stands at 2.3 percentage points over its long-term average and it has stood below the average values since the 4th quarter of 2008.
According to central bank, the growth of the Economic Trend Tendency was the result of a positive confidence trend in all examined sectors compared to the very low trend that has been present during the last 4 quarters.

News feed: Balkans.com article: link

Greece set to receive next loan instalment, EU says

The European Commission has said that Greece has met the conditions to receive the second tranche of a 110bn-euro ($145bn; £91bn) rescue loan.
Greece has already received 20bn euros of the loan, which was agreed by the EU and International Monetary Fund (IMF).







News feed: BBC news link: article

Bulgaria 'to Net €3 Billion From Tourism'

Bulgaria’s tourist industry is expected to gain 6.5 billion lev (€3.25 billion) this year, the chairman of the Bulgarian Tourist Chamber has said.
Tsvetan Tonchev predicted five billion lev (€2.5 billion) should come from foreign tourists, while the rest of the revenues would be generated by Bulgarians.
The country's tourist sector is currently accumulating around up to 20 million lev (€10 million) every day, according to the Bulgarian Tourist Chamber.

News feed: Balkan Insight article: link

Harmonized indices of consumer prices July 2010

EURO AREA1) Annual inflation was 1.7% in July 2010, up from 1.4% in June
EU2) Annual inflation was 2.1% in July 2010, up from 1.9% in June












news feed: Eurostat link: report

Danilovgrad Municipal Infrastructure Project

The EBRD is considering providing a sovereign loan of up to €5.35 million to finance the construction of a wastewater collection system and treatment plant and modernisation of the water supply system in Danilovgrad.

The objective of the Project is to improve the water supply and wastewater situation in the area of Danilovgrad Municipality by the construction of new or rehabilitation of existing assets and improved management of the existing systems to comply with municipal and national environmental requirements. The over-riding drivers of the project are to fulfil the requirement of the municipality to comply with relevant national legislation which is aligned with EU directive requirements and treat wastewater before it is discharged to the Zeta River, improve the water supply system and reduce water losses.




news feed: EBRD link: article

Wednesday, August 18, 2010

IMF mission arrives in Belgrade

BELGRADE -- An International Monetary Fund (IMF) mission arrives in Belgrade today to start talks for the fifth review under Serbia's stand-by arrangement with the IMF.
The IMF mission, headed by Albert Jaeger, is scheduled to stay in Serbia until August 31.
The IMF is scheduled to carry out technical talks by the end of this week, while official talks are scheduled to start on Monday, August 23. 

News feed: B92 article: link

Labour force, Slovenia, June 2010

In June 2010 the registered unemployment rate did not change; it stood at 10.5%. The number of persons in employment increased by around 460.



















 News feed: Statistical Office of the Republic of Slovenia Article: link

Raiffeisen tries to boost popularity of structured products

Raiffeisen Centrobank, the investment arm of the Austrian group of the same name, is trying to boost the popularity of structured products, listing the first certificates with the S&P 500 US index as underlying asset on the Stock Exchange.
Just several months after the emergence of the first rules on the trading of structured products on the BSE, two large Austrian groups, Erste and Raiffeisen, have come to compete on this market.

News feed: ZF English Article: link

EBRD mulls loan of up to €5.35m to finance Montenegro environmental project

The EBRD is considering providing a sovereign loan of up to €5.35 million to finance the construction of a wastewater collection system and treatment plant and modernisation of the water supply system in Danilovgrad.

News feed: Balkans.com article: link

Stopanska Banka AD Skopje - block transaction

Stopanska Banka AD Skopje - (ticker STB) announced block transaction with its shares through which the majority shareholder in the bank - National Bank of Greece SA - Athens (NBG) to buy ordinary shares in SB owned by EBRD (10,8% of the total number of shares with voting rights) and IFC (10,8% from the ordinary shares with voting rights), so that NBG will participate in the shareholders structure with about 94 percent of total ordinary shares with voting rights in the bank, which is in accordance with the Decision of Governor of National Bank.

















News feed: Auctor link: article

Croatian cities likely to face further budget cuts

While the biggest Croatian cities have already tried to adapt to the economic crisis by making budget cuts, bigger adjustments are yet to come, officials warn.
The current cuts target mainly infrastructural projects that will lead to fewer sports halls, kindergartens, schools and paved roads, the daily Vecernji List has reported.



















News feed: Croatian Times  link: article

Slovakia turns to FT for comfort over Greek bailout

Amid strong criticism from the EU for refusing to participate in the Greek bailout, Slovakia's foreign ministry has republished on its website a Financial Times commentary seen as defending the country's decision, but apparently without asking for permission. EurActiv Slovakia contributed to this article.

News feed: EurActiv Link: article

Bulgaria faces tough challenge on 2020 education targets

Bulgaria will have to work hard to achieve the education targets in the EU's new 'Europe 2020' strategy. The country's biggest problem appears to be the high number of kids who stop attending school at an early age. Dnevnik, EurActiv's partner in Bulgaria, reports.
According to research by the National Statistical Institute, 93.4% of all 7-10 year-olds in Bulgaria attended school during the academic year 2009-10. Unfortunately, the number falls to 82.4% for children aged 11-14 and currently only 78.6% of all youngsters actually graduate from high school – meaning that over 22% do not.

News feed: EurActiv link: article

Albania reports weak investor interest in key privatizations

The Albanian economy ministry confirmed that the privatizations of insurance company INSIG and oil producer Albpetrol have not attracted the interests of investors, which might result in failure to close deals, Albania Daily News reported, IntelliNews reported.



















news feed: Balkans.com link: article

Banja Luka unhappy with US State Department report

Ljiljana Kovacevic for Southeast European Times in Banja Luka -- 17/08/10 -
The US State Department's annual report on security in Bosnia and Herzegovina (BiH), published on August 8th, has caused a stir. BiH officials say the findings point to the need for reform, while leaders in the entity Republika Srpska say they amount to a political ploy.



















news feed: SETimes linke: article

Restoring Confidence without Harming Recovery

World growth is projected at about 4½ percent in 2010 and 4¼ percent in 2011. Relative to the
April 2010 World Economic Outlook (WEO), this represents an upward revision of about ½
percentage point in 2010, reflecting stronger activity during the first half of the year. The
forecast for 2011 is unchanged.















News feed: IMF link: report



Tuesday, August 17, 2010

WRAPUP 2-EU states seek new budget rule due to pension reform

BUDAPEST/BRUSSELS, Aug 17 (Reuters) - Nine mostly eastern European Union states have asked the bloc to consider changing its accounting rules in a way that could cut the budget deficit and debt levels of states that implement pension reforms.





news source: reuters link: article

Sarawak Explores Possibility Of Technical Cooperation With Bosnia-Herzegovina


KUCHING, Aug 17 (Bernama) -- Sarawak is exploring the possibility of having technical cooperation with Bosnia-Herzegovina, particularly in the development of energy resources and halal hub in the state.


















news source: Bernama link: article