Linked2Balkan news, the 31st of January 2011 edition

This update will be the last update at this blog services. Please visit us at our new link for the latest Balkan business news:

http://blog.linked2balkan.com/

Croatia won’t join EU before 2013 – MEP

Croatia will probably have to wait until 2013 or 2014 to become the next member of the EU, according to Hannes Swoboda, the European Parliament’s rapporteur on the country’s accession. Croatia should finish EU membership talks by June but the ratification process by member states would last until the end of 2012.

Waste to Energy (w2e) – the hot topic

Sofia, Bulgaria will host the South East European Waste Management & Recycling Conference & Exhibition Save the Planet on 13-15 April 2011. The Netherlands will again be the partner country. Waste to Energy (w2e) will be the hot topic, focusing on Austria. Caroline Jackson, President of Environmental Protection UK, will open the event.

Green Energy and Waste Management Sectors in SE Europe enjoy a great interest!

The South-East European Congress on Energy Efficiency and Renewable Energy and the Eco Forum for Waste Management & Recycling “Save the Planet” are great opportunities for the leading players in the sectors to bring modern technologies, products and services to the Region, to find new partners and clients. The events organized by Via Expo will be held in Sofia, Bulgaria, in the period 13-15 April 2011.

No debt extension to 30 yrs on table -Greek finmin

Stretching out Greece’s bailout loan repayment will help debt servicing but there is no official proposal on the table to extend it to 30 years, the country’s finance minister said in a newspaper interview on Monday.

Project eases people’s paths in urban areas

EU-funded scientists are piloting a service that will allow people to determine the best way of making journeys in cities. As well as helping individuals find the most efficient route, the systems should cut congestion and lower the environmental impacts of road transport.

Foreign Investment in Kosovo Stalls

Direct foreign investment in Kosovo failed to pick up in 2010, remaining at well below the level achieved in 2007, new figures reveal. Kosovo is struggling to attract foreign businesses to the country, according to figures released by the Central Bank of Kosovo, CBK.

Serbs Head to Brussels With Complete Questionnaire

After responding to the EU queries within a record 45 days, the Serbian delegation has left for Brussels to present the document to the European Commission on Monday. Milica Delevic, head of Serbia’s office for EU integration, said Serbia had completed the task faster than most other EU applicants, which needed three or four months to fill in the queries.

Business investment rate nearly stable at 20.5% in the euro area and 20.0% in the EU27

In the third quarter of 2010, in both the euro area (EA16) and the EU27, the seasonally adjusted business investment rate remained stable at low levels, while the profit share grew. In the euro area, the business profit share continued to recover, as value added increased faster than wage costs. Stocks increased for the second quarter in a row, after five quarters of continuous destocking.

Linked2Balkan news, the 28th of January 2011 edition

Serbia Approves Gorenje Investment Amid Dispute

The Serbian government has approved a controversial deal signed between Minister of Economy Mladan Dinkic and the Slovenian home applicance firm Gorenje. Under the deal, the company will invest in the eastern Serbian town of Zajecar, and receive €10,000 for each person they employ.

Porto Montenegro in top 10 of new superyacht playgrounds

Superyacht cruising is opening up beyond the usual hubs with marina facilities being developed and upgraded around the world. Check out 10 of the newest sailing playgrounds.

Europe must use Lisbon Treaty powers to release untapped tourism potential, urges CoR Vice-President Valcárcel

Europe’s full potential as the world’s leading tourist destination remains underdeveloped and local and regional authorities need to do more to help the tourism industry adapt to the current difficult economic climate through diversification and the development of more sustainable business models.

DAVOS-Greek finmin: discussing buying back bonds below par

Greek Finance Minister George Papaconstantinou said on Friday that allowing the country to buy back government bonds at a discount on the market was worth considering but would require funding.

EIB supports Johnson Controls R&D operations in Central Europe with EUR 100 million

The European Investment Bank (EIB) is lending EUR 100 million to finance a 2011 to 2015 investment program of Johnson Controls Inc. (JCI) to support research and development (R&D) and innovation activities of the company’s Automotive Experience business in Central Europe.

The EBRD is considering providing up to €27.5 million loan to Compania APA Brasov S.A.

The EBRD is considering providing up to €27.5 million loan to Compania APA Brasov S.A. The project includes two components. The first entails co-financing to Cohesion Fund of up to €19 million for key investments in the County of Brasov to meet EU water and wastewater directives.

EBRD and Raiffeisen Bank Romania promote energy efficiency in Romania’s industry

The EBRD is continuing to support private industrial companies in Romania in their drive to improve energy efficiency with a new €10 million loan to Raiffeisen Bank S.A. to finance sustainable energy projects undertaken by local businesses. Extended under the EU/EBRD Energy Efficiency Financing Facility framework*, the credit line will be used to finance energy efficiency investments.

Time for focus on the future – Commentary of Kseniya Lvovsky, World Bank Country Manager

When Ms. Ngozi Okonjo-Iweala, the second top official at the World Bank and one of the most extraordinary women of our time, delivered a lecture at the Tirana University as part of her visit to Albania earlier this month, she concluded with a powerful, coming from the heart message which was not in the original script.

Linked2Balkan news, the 27th of January 2011 edition

Montenegro among top four destinations

British Telegraph included Montenegro among the four destinations that tourists should visit in 2011. It created the selection of the best travel destinations and, apart from Montenegro, it includes Tasmania, Zanzibar in Tanzania, and Las Picdras Fasano in Uruguay.

Summer charters to North America, soon in Belgrade

Ryan International Airlines will commence summer charters from Chicago Rockford International Airport and Toronto’s Pearson Airport to Belgrade. Each service will operate once per week with a Boeing B767-300, Serbian media report. Both flights will be served via a technical stop in Shannon, Ireland.

Small Business Act review tweaked for ‘ambition’

A long-awaited report card on the Small Business Act has been delayed after the European Commission’s Secretary General Catherine Day sent a December draft back, demanding that the final version contain concrete proposals, EurActiv has learned. The 16-page December draft, obtained by EurActiv, was supposed to be published last month, then this month, but now the target is late February, according to a person briefed on the plans.

Mergers: Commission blocks proposed merger between Aegean Airlines and Olympic Air

The European Commission has prohibited, on the basis of the EU Merger Regulation, the proposed merger between Aegean Airlines and Olympic Air, as it would have resulted in a quasi-monopoly on the Greek air transport market. This would have led to higher fares for four out of six million Greek and European consumers travelling on routes to and from Athens each year.

Resource-efficient Europe

A. More resource efficiency helps European businesses
Increased resource efficiency can offer competitive benefits to industry. While it does of course require additional investment, it also offers new opportunities which EU companies will want to harness. A number of European key sectors have already embarked on a resource-efficient strategy.

Business leaders cautiously optimistic on euro zone

European executives attending the Davos forum voiced cautious optimism that the euro zone debt crisis will be resolved without contagion spreading to Spain or investors being forced to take unbearable losses. Policymakers from the United States, the European Union and the financial sector were due to focus on Europe’s debt woes at a series of private meetings and discussion panels at the annual World Economic Forum on Thursday.

Macedonia to Name and Shame Dodgy Businesses

In a new move to improve the business climate, officials are drawing up a “blacklist” of businessmen who have broken the law that companies will be able to access on subscription. Macedonia’s Economy Ministry said a list of dodgy businessmen will be ready and available to subscribers by mid-February.

Croatia’s EU Bid Gets Boost

EU membership negotiations with Croatia can be completed in the first half of 2011 provided its reforms stay on the right track, MEPs said in a resolution adopted on Wednesday. The resolution, which was adopted by the European Parliament’s Foreign Affairs Committee, said the biggest challenge may be “selling” the benefits of EU membership to a sceptical Croatian population.

Linked2Balkan news, the 26th of January 2011 edition

Listing of Fondul Proprietatea: ecstasy for the Stock Exchange, prolonged agony for former owners

The listing of Fondul Proprietatea (Property Fund) injected adrenaline into the weak heart of the Bucharest Stock Exchange, encouraging investors to daydream. Yet former owners have to wait before they can see their dreams come true. Yesterday, January 25th, Fondul Proprietatea made history at the Bucharest Stock Exchange, this being the most awaited listing of the last decade.

Consumer price indices, Slovenia, 2010

In 2010, the annual inflation rate was 1.9% and the 12-month average price growth was 1.8%. In the first half of 2010 prices increased on average by 2.4%, while in the second half of the year they decreased on average by 0.5%.

Bosnia’s Hefty Trade Gap Narrows Slightly

Exports in 2010 rose faster than imports, the country’s statistics agency reports, though overall gap between imports and exports remains wide. Compared to 2009, exports in 2010 rose by 28.3 per cent to some 3.5 billion euros, while the value of imports grew more slowly by 10.2 per cent to some 6.8 billion euros.

BBC to Cut Macedonian, Albanian, Serbian Services

The BBC World Service is expected to announce today that it will close its Macedonian, Albanian and Serbian language services, part of a series of cutbacks to its programming. The British broadcaster will also cut its English for the Caribbean and Portuguese for Africa, in a bid to save £46 million a year.

Greek CEOs look past 2011

The majority of top Greek company officials are downbeat about their firm’s prospects for the year but express optimism over the medium term, according to global survey results revealed on Tuesday. The survey, put together by PricewaterhouseCoopers (PwC).

Alternative fuels for transport

Transport has been the sector most resilient to efforts to reduce CO2 emissions due to its strong dependence on fossil energy sources and its steady growth despite the considerable efficiency gains that have already been made. Emissions can be reduced by improving energy efficiency, transport efficiency, and effective transport demand management.

Swiss Alpiq to expand its wind farm in Bulgaria

Swiss energy firm Alpiq will invest about 36 million euros ($49.02 million) to expand its wind farm in Bulgaria and boost its installed capacity to 72.5 megawatts, the company said on Tuesday. Alpiq put in operation 20 wind turbines with a total output of 50 megawatts near the city of Kazanlak, some 200 km east of Sofia in November last year.

Software releases researchers from microscope

EU-funded scientists have developed a system that releases researchers from the chore of spending hours hunched over a microscope looking for cells of interest in large samples. The system is described in the journal Nature Methods by a team led by the European Molecular Biology Laboratory (EMBL) in Germany.

Linked2Balkan news, the 25th of January 2011 edition

Macedonian business tendency in the manufacturing industry

According to the data of the State Statistical Office, the business situation in December 2010 according to the managers is more satisfactory compared to the previous month, as well as compared to December 2009. The situation with the present volume of production orders is more satisfactory compared to the previous month.

Albanian foreign trade in december 2010

During December 2010 were exported 13,743 mln leke commodities, decreasing 3.5 percent compared with November 2010 and increasing 39.4 percent compared with December 2009. There were imported 48,843 mln leke commodities increasing 16.9 percent compared with November 2010 and increasing 13.1 percent compared with December 2009.

Airport helps Adria, Ljubljana writes off debt

The fight for Adria’s survival continues this week. The indebted Slovenian carrier received some good news yesterday evening when Ljubljana Jože Pučnik Airport said it would write off 2.4 million Euros, which Adria owes to its hub, the Slovenian News Agency reports.

Secret committee paving way for euro reform

A little known EU committee is busy rewriting the EU’s rules on bailouts and national debt without the glare of the media. On the menu of talks are tax co-ordination, national debt brakes and the ins and outs of euro bailouts.

European Commission proposals to ease cross-border trade advance as EU countries agree on Consumer Rights Directive

The European Commission’s proposal to give consumers more confidence when they shop online advanced today when EU Member States formally adopted the Consumer Rights Directive. The agreement follows a discussion at the Competitiveness Council on 10 December.

MediGene Adds Romania and Bulgaria to Existing Partnership Agreement with Meditrina for the Commercialization of Veregen

The biotech company MediGene AG (Frankfurt, Prime Standard) announced today that its existing partnership with Meditrina Pharmaceuticals Ltd., Greece, for the commercialization of Veregen Ointment has been expanded to include Romania and Bulgaria. The previous agreement had been concluded for the commercialization of Veregen in Greece and Cyprus.

EBRD supports development of rural leasing in Romania

The EBRD is diversifying the availability of financing for small and medium-sized companies in Romania with a €7 million loan to IMPULS-Leasing Romania IFN SA (ILRO) to support the extension of leasing services in rural areas. IMPULS-Leasing Romania IFN SA, one of the fastest growing leasing companies in Romania.

Good growth prospects in emerging Europe, overshadowed by downside risks

The economic recovery that began in most parts of emerging Europe last year is continuing in 2011 but facing increased downside risks. In its latest quarterly economic report on the region, the EBRD said growth in 2011 is likely to remain reasonably strong.

Linked2Balkan news, the 24th of January 2011 edition

Jat introducing new flights, but is also conscious of low cost threat

This summer Jat is preparing to significantly increase frequencies to many of its destinations on top of introducing new services. This summer, the Serbian carrier will serve Athens daily. The service was recently increased from 3 to 4 per week as it tries to fill the void left by Aegean Airlines’ suspension of the route.

Hungary, Croatia and Bulgaria remain the worst performing Central & Eastern European luxury markets

The current recession as well as the continued political unrest have been fueling the negative economic performance of Hungary, Bulgaria and Croatia, with a direct impact on the luxury markets. Hungary’s unpopular government has been taking controversial measures.

Buzek: Freezing the EU budget is ‘very dangerous’

Freezing the budget as demanded by some countries would be “very dangerous” as the EU needs greater investments to overcome the economic crisis, said European Parliament President Jerzy Buzek in an exclusive interview with EurActiv.

Analysis: Don’t expect Greek debt restructuring soon

Conventional wisdom in the financial markets says that Greece will never be able to repay its growing mountain of debt and would do better to conduct an orderly restructuring sooner rather than later. But don’t expect Athens to seek relief from its creditors any time soon. All three major credit ratings agencies have downgraded its sovereign bonds to junk.

SARTRE: Smart convoy gives drivers a break

EU-funded scientists have successfully demonstrated a road train technology that could boost road safety and driver comfort while cutting congestion and carbon emissions. In the system, the driver of the lead vehicle of a convoy controls the other vehicles.

Industrial new orders up by 2.1% in euro area Up by 1.6% in EU27

In November 2010 compared with October 2010, the euro area (EA16) industrial new orders index rose by 2.1%. In October3 the index grew by 1.4%. In the EU271, new orders increased by 1.6% in November 2010, after a rise of 0.4% in October.

Port of Sibenik: Assistance in Preparation and Implementation of a Management Information System

Sibenik is located on the Croatian coast some 80 km north of Split. Positioned in a deep bay it has one of the most naturally-protected harbours on the Adriatic coast. It is a very popular coastal tourist destination offering access to two national parks (Krka and Kornati), ferry access to the neighbouring islands.

Second Development Loan (DPL2) to Romania Worth €300 Million Approved by World Bank Board

The World Bank’s Board of Executive Directors approved an IBRD loan worth of €300 million for Romania, during its meeting on January 20. The loan is a single tranche development policy loan (DPL), named the Public Financial Management, Social Protection, and Financial Sector Strengthening Program.

Linked2Balkan news, the 21st of January 2011 edition

European Investment Bank to Finance Key Bulgarian Projects

Bulgaria’s key infrastructure projects will be financed by the European Investment Bank, the Bulgarian Prime Minister Boyko Borisov has annunced. On Friday, Borisov met with President of the European Investment Bank Group Philippe Maystadt.

Turnover and new orders in Industry, Slovenia, November 2010

Compared to the previous month, turnover in November 2010 higher only in one industrial grouping. In November 2010 compared to a month earlier turnover grew only in capital goods industries (by more than 1%), while it fell in intermediate goods industries as well as in consumer goods industries (in each by almost 1%).

Output price indices, Slovenia, December 2010

In December 2010, industrial producer prices grew by 0.2% at the monthly level and by 4.2% at the annual level. In December 2010 output prices grew by 0.2% at the monthly level. In December 2010 the output prices were 0.2% higher than in November 2010.

Opening of Honorary Consulate of Bosnia and Herzegovina in the Republic of Lebanon

Non-resident Ambassador of BiH to the Republic of Lebanon, Mr. Zlatko Dizdarević and Assistant Minister for International Legal and Consular Affairs in BiH Ministry of Foreign Affairs, Mr. Zoran Perković, attended on January 16, 2011 in Beirut the opening ceremony of Honorary Consulate in Lebanon and the appointment of the Honorary Consul of Bosnia and Herzegovina to Lebanon, Mr. Ziad Isaa.

New terminal for Priština airport

The Turkish-French consortium Limak Holding and Aeroport de Lyon, which will be running Priština’s airport for the next 20 years, have announced plans for a brand new terminal. Construction of the new terminal is expected to begin by the end of the month, Nihat Ozdemir from Limak told local press.

Parliament backs EU-Serbia pact, with strings attached

The European Parliament gave its green light on Wednesday (19 January) to an EU-Serbia Stabilisation and Association Agreement (SAA), but tied its support to a series of conditionalities. MEPs voted overwhelmingly in favour of the legal agreement, which regulates Serbia’s relations with the EU and leaves the door open for future accession.

EU broadband state aid hits record high

State aid for broadband in 2010 was more than four times the amount in 2009 and comprised a record total of €1.8 billion in public funds. But scepticism remains as to whether EU funds will inject competition into the high-speed Internet market. Though the flow of state aid into rolling out ultra-fast fibre networks is unprecedentedly high.

Romania – Public Financial Management, Social Protection, and Financial Sector Strengthening Program

The Second Development Loan (DPL2) to Romania for that country’s Public Financial Management, Social Protection, and Financial Sector Strengthening Program aims to support the Government of Romania’s structural reforms in three key areas.

Linked2Balkan news, the 20th of January 2011 edition

Aeroflot flies to Dubrovnik

Aeroflot has made good on its promise from late last year and will commence scheduled flights from Moscow Sheremetyevo Airport and the seaside city of Dubrovnik. Flights will commence on May 27 and will operate on a daily basis with the Airbus A320. The line will additionally boost the arrivals of Russian tourists to Dubrovnik.

Waste and recycling: EU can do better

Despite a marked improvement in some countries, new statistics show that waste keeps piling up in most EU member states, suggesting that further effort is required for the bloc to become a “recycling society” that avoids waste and uses it as a resource.

EU’s Black Sea plans need fresh money

The EU should launch a fully-functional strategy to bring peace and stability to the Black Sea region and secure energy supplies, including a specific budget line and more EU human resources, MEPs said on Thursday. The Black Sea Strategy needs a specific EU budget line.

€40 million start-up fund for junior researchers in Europe in 2011

€40 million, to cover over 400 grants, will be offered to researchers starting their first full-time research job in a European research institute in 2011. The €100 000 ‘career integration’ grants are funded through the EU’s Marie Curie programme and aim to encourage European scientists to return to Europe.

Greece does not need debt restructuring – EFSF

Greece does not need a restructuring of debt and the European rescue fund currently needs no expansion, the chief of the fund Klaus Regling told Deutschlandfunk German radio on Thursday.

IMF: €475.6 million Arrangement for Macedonia Under the Precautionary Credit Line

The arrangement for Macedonia is the first commitment under the PCL. The PCL was established in 2010 in the context of expanding and enhancing the IMF’s lending tools to help provide effective crisis prevention. Following the Executive Board’s discussion on Macedonia.

EU project to smooth the path through data-intensive environments

Scientists in Europe are working hard at strengthening cooperation and decision-making data-intensive and cognitively complex settings by advancing information systems. Helping fuel this technology drive is a new EU-funded project that is exploiting and building high-performance computing paradigms and broad data processing technologies.

Port of Bar: CGCO Pre-Privatisation Project

Transaction Advisory Services Container and General Cargo Operator/ Port of Bar. The Government of Montenegro intends using the proceeds of a loan from the European Bank for Reconstruction and Development (the Bank) towards the cost of facilitating the restructuring and privatization of, AD Kontejnerski Terminal i Generalni Tereti-Bar/Container and General Cargo Operator (CGCO).

Linked2Balkan news, the 19th of January 2011 edition

EC makes no decisions yet on Croatia´s shipyards

The European Commission has not yet made any decisions regarding the plans for the reconstruction of Croatian shipyards that have been submitted so far, EC officials said. “The European Commission will not reach any decisions or publish its opinion.”

Kosovo expects the renewal of preferential trade agreement with EU

The deadline for the preferential trade agreement set by the European Union for all Western Balkan countries, including Kosovo, has expired on December 31 last year. Officials from the resigning Government expect these measures to continue until 2015.

Foreign investors interested in investing in Serbia

Minister of Environment and Spatial Planning Oliver Dulic said in Vienna today that there is a great interest from foreign investors in investing in infrastructure and environmental protection in Serbia. Dulic, who is attending the Euromoney economic forum said that he presented to potential investors the opportunities for investment in road and railway infrastructure along Corridor 10.

Industrial Zones Occupancy in Sofia Up by 40% in 2010 Y/Y

The increase is explained by the Forton experts as a result from the slightly improved economic situation and the higher consumption at the end of the year. The signed contracts for rent of industrial areas in the new logistics centers in Sofia

Greece not discussing debt restructuring – deputy finmin

Greek government officials on Wednesday dismissed a German newspaper report that said a restructuring of Greek debt was being considered by Berlin. “There is no discussion on the issue of restructuring,” Deputy Finance Minister Philippos Sachinidis told Reuters.

Truckers keep on trucking with fresh learning experience, the EU way

Technology continues to take the world by storm, bringing many changes to industry. A case in point is the trucking industry. Images of people behind huge steering wheels that drive for long periods of time with only coffee and a CB (citizens’ band) radio for company will be no more. EU-funded researchers from the Fraunhofer Institute for Applied Information Technology (FIT) in Germany are offering logistics people and truckers a new learning experience.

Emerging economies attract greater share of foreign investment

Foreign direct investment (FDI) to developing and transition economies rose last year, while investment flows to developed countries declined, the United Nations agency tasked with promoting trade said in an update on global investment trends released today.

Construction output down by 0.9% in euro area Down by 0.4% in the EU27

In the construction sector, seasonally adjusted production1 fell by 0.9% in the euro area2 (EA16) and by 0.4% in the EU272 in November 2010, compared with the previous month. In October3, production increased by 0.3% and 0.6% respectively. Compared with November 2009, output in November 2010 dropped by 6.8% in the euro area and by 1.7% in the EU27.

Linked2Balkan news, the 18th of January 2011 edition

The 7th Southeast European Renewable Energy Exhibition (13-15 April 2011)

SunEnergy Europe, exhibitor at the 7th Southeast European Renewable Energy Exhibition (13-15 April 2011), announced the opening of Meldorf municipal solar park in Schleswig-Holstein.

European Federation of Waste Management & Waste-to-Energy Research and Technology Council support South-East Europe Development

European Federation representing the European waste management industry will support for the first time the Eco Forum in April 2011. Its members are national waste management associations covering 20 Member States. They have an approximate 60% share in the household waste market and handle more than 75% of industrial and commercial waste in Europe.

New Adria CEO announces plans to revive the carrier

Over the weekend, Tadej Tufek fell from grace after years at Adria’s helm. Following revelations that the airline is in deep financial trouble Tufek resigned. Promptly, a new management team was announced by the Slovenian Government and Adria’s Management Board.

Eesti Pank joins the central bank gold agreement

In the interest of clarifying its intentions with respect to its gold holdings, Eesti Pank agrees with and becomes a party to the joint statement of 7 August 2009 that has been signed by the European Central Bank, Nationale Bank van België/Banque Nationale de Belgique, Banka Slovenije…

Euro zone starts talks on long-term crisis plan

Eurozone finance ministers discussed on Monday (17 January) having more money in their rescue fund and cheaper emergency loans as part of a package of measures to end the sovereign debt crisis. But they made no firm decisions. The chairman of eurozone finance ministers, Jean-Claude Juncker, said the ministers discussed many possible options under the package, but favoured none at this stage.

44 new projects on course to receive € 67 million under the Intelligent Energy

Negotiations have begun for the 44 projects that were shortlisted to receive a share of the nearly € 67 million available under the 2010 call for project proposals of the Intelligent Energy – Europe programme.

5 Greek Banks’ L-T Ratings Cut to BB+ From BBB- by Fitch

Five Greek banks’ long-term issuer default ratings were cut to BB+ from BBB- and short-term ratings to B from F3 by Fitch Ratings.

EBRD is considering providing a loan to finance the reform of the Sofia transport sector

The Bank is considering providing a loan to finance a project with the City of Sofia comprising of several discrete components covering essential areas of the City’s urban transport system. The integrated nature of the project will result in a coherent and comprehensive urban transport improvement programme.

Linked2Balkan news, the 17th of January 2011 edition

BIH Furniture manufactures at “INTERIORS NEC 2011″ fair in Birmingham

The Foreign Trade Chamber of Bosnia and Herzegovina (VTK BiH), BiH Exports Promotion Agency (BHEPA) in cooperation with the FIRMA Consortium organize a visit of 7 companies from BiH to the major furniture fair in UK, the INTERIORS NEC 2011

Average monthly earnings, Slovenia, November 2010

Average net monthly earnings for November 2010 were 8.0% higher than for October 2010, which is mostly due to extra payments such as 13th month payments and Christmas bonuses. Higher average monthly earnings for November 2010 mostly due to higher extra payments.

Croatia Airlines and Jat set for talks

On January 26, the CEO of Croatia Airlines, Srećko Šimunović, will hold talks with the acting CEO of Jat Airways, Vladimir Ognjenović, in Belgrade. Ognjenović states that the two will hold talks in regards to possible new flights between Belgrade and the Croatian coast.

MFI statistics 2011: the number of monetary financial institutions in the euro area and in the EU decreases further

On 1 January 2011 the total number of monetary financial institutions (MFIs) in the euro area stood at 7,865. There is a net decrease of 211 units (2.6%) in comparison with the situation a year ago. The decline was spread across the whole of the euro area.

A successful euro changeover in Estonia

The dual circulation period ended on Friday 14 January and the euro is now the only currency that is legal tender in Estonia. The changeover was very smooth and successful. No major problems were encountered and banks, post offices and retailers were coping well with the extra workload.

Greece’s Piraeus Bank rights start trade

Subscriptions to Greek Piraeus Bank’s (BOPr.AT) 12-for-5 rights issue began on Monday with rights to the share offering starting trade at 1.51 euros each. Greece’s fourth-largest lender is seeking raise 807 million euros ($1.1 billion) to strengthen its balance sheet and be better able to cope with recession and the country’s debt crisis.

Serbia: economic downturn dampens EU enthusiasm

With polls showing Serbia support for EU integration declining slightly, experts say that the economic situation at home and abroad is largely to blame. Political Science Professor Zoran Stojiljkovic thinks that the global economic crisis has made people think that the EU is not an ideal place to live.

Price hikes threaten Macedonians with hardship

The constant surge in prices of basic consumer products worries many Macedonians, threatening to push more below the poverty line. Macedonian shoppers face more unpleasant surprises this week. Bread and milk have gone up again. The price of sugar, flour and cooking oil is also continuously climbing, as are prices of vegetables and fruit.

Linked2Balkan news, the 14th of January 2011 edition

Statistical information about transport regarding Slovenia, November 2010

In November 2010 the number of passengers carried in road transport for hire or reward decreased by 6.1%, compared to November 2009. Fewer passengers in road transport for hire or reward and air transport over November 2009.

Leading annual BUSINESS OF LUXURY FORUM dedicated to emerging markets to take place on March 28th

The 2011 edition of the leading luxury industry business event dedicated to emerging markets, BUSINESS OF LUXURY FORUM will take place in Bucharest, Romania on March 28th. The annual luxury business event which is organized by CPP Luxury Industry Management Consultants Ltd

EU study finds woody biomass supply can get major boost

Doubling the share of renewable energy in Europe by 2020 is high on the EU agenda, when green power should account for 20% of the region’s total energy consumption. Under this plan, the demand for wood will increase. Wood and wood waste has always played a crucial role in Europe, covering about 50% of renewable power sources.

Euro area annual inflation up to 2.2% EU up to 2.6%

Euro area annual inflation was 2.2% in December 2010 up from 1.9% in November. A year earlier the rate was 0.9%. Monthly inflation was 0.6% in December 2010. EU annual inflation was 2.6% in December 2010, up from 2.3% in November.

Euro area external trade deficit 0.4 bn euro 14.7 bn euro deficit for EU27

The first estimate for the euro area (EA16) trade balance with the rest of the world in November 2010 gave a 0.4 bn euro deficit, compared with +3.1 bn in November 2009. The October 2010 balance was +4.7 bn, compared with +4.8 bn in October 2009.

EBRD funds for the construction of the Croatian Ombla hydro power plant

Hrvatska Elektroprivreda d.d. (HEP) intends to use the proceeds of loan from the European Bank for Reconstruction and Development (the Bank) to fund the construction of Ombla hydro power plant.

EBRD financing for redevelopment of Old Mill Belgrade

The EBRD is supporting the refurbishment of a historical site in the Old Town of Belgrade, with an investment to finance the redevelopment of one of the city’s most famous landmarks, the Old Mill, a listed building located in front of the Gazela bridge.

UCB Serbia – SME and medium Corporate Credit Line

The EBRD is considering providing a senior loan of up to €60 million to UniCredit Bank Serbia JSC (UCB Serbia) for on-lending to SMEs and medium-sized corporates in Serbia. The proceeds of the loan will be used by UCB Serbia to provide medium and long-term financing.

Linked2Balkan news, the 13th of January 2011 edition

Donation of land for the business zone South in Novska

Prime Minister Jadranka Kosor signed a contract with Novska Mayor Antun Vidakovic on Wednesday on the donation of land for the business zone South in Novska, and then visited the plant of the Trokut furniture manufacturer. The donated land covers 35 hectares and is estimated to be worth more than HRK 21 million.

Bulgaria’s December Inflation Rate Falls to 4.5%

Bulgaria’s inflation rate fell in December for the first time in 16 months, led by a decline in food prices in the European Union’s poorest country. The annual rate dropped to 4.5 percent from 4.6 percent in November, the National Statistics Institute in Sofia said today in a statement on its website.

Romania threatens to leave Francophony organisation

Angered by the attitude of France, its traditional ally, towards its bid to join Schengen, Romania is considering leaving the OIF, the International Francophony Organisation, a leading Romanian MEP told EurActiv yesterday.

European semester: a new architecture for the new EU Economic governance

The economic crisis has revealed a clear need for stronger economic governance and coordination at EU level. Until now, discussions between the EU and Member States on economic priorities and structural reforms were taking place through different processes.

New tool delivers novel diagnostic markers

New techniques developed by EU-funded scientists could help researchers quickly analyse medical databases to identify diagnostic markers and design tailor-made medication for allergy sufferers. Scientists led by the Sahlgrenska Academy of the University of Gothenburg in Sweden say these novel methods also could cut the numbers of animals used in clinical trials.

Industrial production up by 1.2% in euro area Up by 1.4% in EU27

In November 2010 compared with October 2010, seasonally adjusted industrial production rose by 1.2% in the euro area (EA16) and by 1.4% in the EU272. In October3 production grew by 0.7% and 0.4% respectively. In November 2010 compared with November 2009, industrial production increased by 7.4% in the euro area and by 7.8% in the EU27.

EBRD signs loan for rehabilitation of power plant in Slovenia

The EBRD is helping to improve the security of energy supply in Slovenia with a €200 million loan to the Slovenian state-owned thermal power plant, Termoelektrarna Šoštanj, signed today, to co-finance its modernisation programme. A fully-owned subsidiary of Holding Slovenske Elektrarne d.o.o., Šoštanj Thermal Power Plant is the biggest producer and wholesaler of electricity in Slovenia.

World Bank says most developing countries have recovered from crisis, projects steady global growth

The world economy is moving from a post-crisis bounce-back phase of the recovery to slower but still solid growth this year and next, with developing countries contributing almost half of global growth, says the World Bank’s latest Global Economic Prospects 2011. The World Bank estimates that global GDP[1], which expanded by 3.9% in 2010, will slow to 3.3% in 2011, before it reaches 3.6% in 2012.

Linked2Balkan news, the 12th of January 2011 edition

Romania 2010 Inflation Widens To 7.96%, On Sales Tax Rise

Romanian consumer prices rose by an expected 0.53% on the month in December, matching November figures, and the annual inflation accelerated to 7.96%, the country’s statistics institute INS said Wednesday. Analysts polled by MEDIAFAX had expected the monthly inflation at 0.4%-0.6% in December.

Croatian unemployment highest in six years

The number of unemployed Croatians rose to 319,845 last December, the highest it has been since April 2005. The head of the Economic Research Department of Raiffeisen Consulting Zrinka Zivkovic-Matijevic said that the data is not surprising. “The number of unemployed is nearing 320,000.”

Trade on the Sofia Commodity Exchange (SCE) in 2010 reached 402.3 million leva

Trade on the Sofia Commodity Exchange (SCE) in 2010 reached 402.3 million leva, 30 per cent up compared to 2009, SCE CEO Vassil Simov told a news conference on Tuesday. In 2008 its turnover exceeded 663 million leva but fell drastically down to 312 million leva in 2009.

B&H to dump Frankfurt flights but keeps Zurich

B&H Airlines will terminate services from Banja Luka to Frankfurt on March 24, Emir Dervišević, the head of B&H planning, flight scheduling and networking confirmed for EX-YU aviation news. The 2 weekly service, which commenced only a few months ago (on November 1), will cease due to poor loads.

EU economic governance: Commission sets the yearly priorities for EU growth

Europe has a comprehensive plan to respond to the crisis and to speed up Europe’s economic growth. It now needs to focus its efforts in a coordinated manner and with an eye on priorities. That is what the Commission is presenting today.

Belgrade Gazela bridge rehabilitation project

The project concerns (i) the rehabilitation of the Gazela Bridge on the E70/E75 Highway crossing the Serbian capital Belgrade, and forming part of Pan European Corridor 10. It also includes (ii) the rehabilitation and upgrading of access roads with a total length of 24.2 km.

Scientists spotlight secrets of data storage structures

Researchers have unravelled the details of precisely how DVDs and similar devices store data. The findings, published in the journal Nature Materials, are set to boost the development of easily accessible storage media with a larger capacity and a longer life.

World Bank managing director visits Albania

World Bank Managing Director Ms. Ngozi Okonjo-Iweala today completed her three-day visit to Albania, as part of her first trip to some Western Balkans countries. The aim of the visit was to emphasize the importance of Albania’s new Growth Agenda as well as reiterate the Bank’s support to the Government under the new Country Partnership Strategy.

Linked2Balkan news, the 11th of January 2011 edition

Albania PM Lashes Out at Banks and Telecoms

The usually business friendly Albanian Prime Minister Sali Berisha has accused mobile phone operators and banks of overcharging Albanians for their services. Responding to questions during a press conference with a top World Bank official on Monday,

Serbia and EU to sign market liberalization protocol Tuesday

Serbia’s Minister of Economy Mladjan Dinkic and EU Trade Commissioner Karel De Gucht will sign a market liberalization protocol in Brussels on Tuesday as part of Serbia’s accession into the World Trade Organization (WTO), the Ministry of Economy released Monday.

‘Political parties’ meeting in Sarejevo begins

Meeting of leaders of HDZ BiH, HDZ 1990, SNSD, SDS and SBB BiH began today around 12.00 at the BiH PA building in Sarajevo after the arrival of SNSD leader Milorad Dodik. Representatives of SDA, SDP BiH and party for BiH refused participation in this meeting.

Japan Interested in Importing Bulgarian Poultry and Red Wine

Japan is showing interest in the import of poultry and red wine, the Ministry of Agriculture and Food said after a meeting between Minister Miroslav Naydenov and newly appointed Japanese Ambassador here Makoto Ito. Minister Naydenov described as “unique Bulgarian ambassador” the starter culture for yoghurt – well known and received in Japan. There are good chances for extending cooperation in this sector, he added.

The Western Balkans in 2010 – small improvements, big scandals

The Western Balkans, as a region in transition, are prone to bouts of activity, and are rarely out of the news. The past year was no exception. Several events stood out – the International Court of Justice (ICJ) ruled on Kosovo’s declaration of independence in July 2010, expressing its opinion that this move was not against international law; former Croatian prime minister, Ivo Sanader, was accused of corruption.

Eurobank expects “new Europe” profit boost

EFG Eurobank (EFGr.AT), Greece’s second-largest lender, expects profit from its operations in south east and central Europe to double this year, its chief executive said on Monday. Greek banks ventured into the relatively underbanked Balkan markets to secure growth, but the difficulties brought on by the country’s debt crisis have led some to reduce stakes abroad to raise cash and beef up capital adequacy.

Karlsruhe’s Puchta awarded ERC grand

One of the biggest gripes consumers have about the fruits and vegetables they eat is that they often taste like cardboard. And while it’s easy to blame farmers for using pesticides to kill the varmints that invade our foods, farmers claim they use them to ensure good quality and safe foods. Thankfully, several researchers in Europe are working to provide consumers with foods that taste just like they should taste.

The EBRD is considering providing a loan for the Novi Sad district heating project

The EBRD is considering providing a loan of up to €18.5 million for financing the rehabilitation/modernisation of the city heating system focusing on energy efficiency and tariff reform to be based on actual measured consumption at individual user levels. Overall the prospective project to contain three components.

Linked2Balkan news, the 7th of January 2011 edition

Macedonian Consumer Price Index, by COICOP classifcation, December 2010

According to the State Statistical Office data, the Consumer Price Index, measured by prices of goods and services for personal consumption, in December 2010, in comparison with November 2010, was 100.7, while in comparison with December 2009 it was 103.0.

Albanian Consumer Price Index December 2010

Consumer Price Index (CPI), in December 2010, resulted 109.5 percent against December 2007 (December 07=100), signing an increase of 2.2 percent against the previous month. The annual rate in December 2010 is 3.4 percent. A year before the annual rate was 3.7 percent.

2011 easyJet gives EX-YU the cold shoulder

Despite earlier announcements that easyJet was interested in commencing flights to Belgrade this year, the airline has recently said it will do no such thing. Macedonia, Bosnia and Herzegovina and Montenegro will also miss out on easyJet flights.

New luxury hotel opens in Bucharest

Earlier this month, saw the soft opening of EPOQUE, a five star all suite boutique hotel in Bucharest, Romania. The hotel boasts the largest accommodation units in Bucharest, with suites averaging 35 to 110 sqm with state of the art technology (LCD screens, wifi etc).

Schengen confusion under Hungarian stewardship

The accession of Bulgaria and Romania to the border-free Schengen space has been postponed, a Hungarian minister announced yesterday (6 January). After a nervous reaction from Bucharest, the statement was soon denied by the Hungarian authorities, who hold the EU’s rotating presidency.

“Comité des Sages” calls for a “New Renaissance” by bringing Europe’s cultural heritage online

The report of the Comité des Sages (high-level reflection group) on Digitisation of Europe’s cultural heritage was delivered today to Neelie Kroes, European Commission Vice-President for the Digital Agenda, and Androulla Vassiliou, Commissioner responsible for Education and Culture. The report urges EU Member States to step up their efforts to put online the collections held in all their libraries, archives and museums.

Greece’s Piraeus Bank shares trade ex-rights

Shares in Greece’s fourth-largest lender Piraeus Bank (BOPr.AT) trade ex-rights on Monday, starting at 1.59 euros, adjusted for a 12-for-5 rights offering to raise 807 million euros ($1.04 billion). The bank, which got the green light for the cash call by the securities regulator on Jan.

IMF Completes Sixth Review Under Stand-By Arrangement with Romania

The Executive Board of the International Monetary Fund (IMF) today completed the sixth review of Romania’s economic performance under a program supported by a 24-month Stand-By Arrangement (SBA). The completion of the review enables the immediate disbursement of SDR 769 million.