se times
05/11/2010
Croatia tries again to sell Kraljevica shipyard. Also in business news: an IMF committee was in Bosnia and Herzegovina and officials say the growth of Turkey's economy is sustainable.
Croatia tries again to sell Kraljevica shipyard. Also in business news: an IMF committee was in Bosnia and Herzegovina and officials say the growth of Turkey's economy is sustainable.
The Croatian Privatisation Fund (HFP) launched a third public tender for the Kraljevica shipyard on Wednesday (November 3rd), with a deadline of November 18th for all bids. Economy Minister Djuro Popijac said several investors have already shown interest, raising hopes that this latest effort will succeed. The HFP is offering a 99.54% stake in the shipyard at a starting price of 1 kuna. The buyer will be required to implement a restructuring programme for the shipyard, helping it meet European Commission requirements.
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Albania has released a debut Eurobond issue worth 300m euros, Finance Minister Ridvan Bode announced on October 28th. He said the government decided to place the bond now as the markets have moved to stable in recent months. He added that the transaction reconfirms the credibility of the economy to enter capital markets. The Eurobond was arranged by Deutsche Bank and JPMorgan.
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An IMF mission, headed by Costas Christou, started a review of Bosnia and Herzegovina's 1.2 billion-euro stand-by arrangement on Tuesday (November 2nd). The mission will hold talks with local officials by November 15th. The IMF completed the second and third reviews under the three-year deal on October 15th and approved the disbursement of a 132.8m-euro tranche.
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Croatia's government abolished the 4% "crisis" tax on incomes higher than 817 euros as of Monday (November 1st), thus removing the special tax two months ahead of schedule. The 2% rate on monthly incomes between 409 euros and 817 euros was removed as of July. The abolition of the 4% rate will affect 344,500 people and should boost domestic consumption, supporting economic activity, particularly retail sales.
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Serbian Prime Minister Mirko Cvetkovic and visiting Slovenian counterpart Borut Pahor opened the hot-galvanising plant Metal-Cinkara in Indjija on Tuesday (November 2nd). The plant will employ 50 people. Metal-Cinkara Indjija is the largest zinc plant in the Balkans.
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The Kosovo parliament adopted a labour law on Tuesday (November 2nd) that will become effective in January 2011. The long-awaited legislation envisions maternity leave extended from three months to one year. The implementation of the law will cost 2m euros annually.
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The IMF wants Albania to reduce its public debt, which has reached 60% of GDP. IMF representative to Albania Gervin Bell said on Wednesday (November 3rd) that this figure is the highest in the region. Bell said the debt threatens the economy and that normality will be achieved by intervening to lower the figure at a time when the economy is expected to grow by 3.5% in 2011.
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Albania has released a debut Eurobond issue worth 300m euros, Finance Minister Ridvan Bode announced on October 28th. He said the government decided to place the bond now as the markets have moved to stable in recent months. He added that the transaction reconfirms the credibility of the economy to enter capital markets. The Eurobond was arranged by Deutsche Bank and JPMorgan.
***
An IMF mission, headed by Costas Christou, started a review of Bosnia and Herzegovina's 1.2 billion-euro stand-by arrangement on Tuesday (November 2nd). The mission will hold talks with local officials by November 15th. The IMF completed the second and third reviews under the three-year deal on October 15th and approved the disbursement of a 132.8m-euro tranche.
***
Croatia's government abolished the 4% "crisis" tax on incomes higher than 817 euros as of Monday (November 1st), thus removing the special tax two months ahead of schedule. The 2% rate on monthly incomes between 409 euros and 817 euros was removed as of July. The abolition of the 4% rate will affect 344,500 people and should boost domestic consumption, supporting economic activity, particularly retail sales.
***
Serbian Prime Minister Mirko Cvetkovic and visiting Slovenian counterpart Borut Pahor opened the hot-galvanising plant Metal-Cinkara in Indjija on Tuesday (November 2nd). The plant will employ 50 people. Metal-Cinkara Indjija is the largest zinc plant in the Balkans.
***
The Kosovo parliament adopted a labour law on Tuesday (November 2nd) that will become effective in January 2011. The long-awaited legislation envisions maternity leave extended from three months to one year. The implementation of the law will cost 2m euros annually.
***
The IMF wants Albania to reduce its public debt, which has reached 60% of GDP. IMF representative to Albania Gervin Bell said on Wednesday (November 3rd) that this figure is the highest in the region. Bell said the debt threatens the economy and that normality will be achieved by intervening to lower the figure at a time when the economy is expected to grow by 3.5% in 2011.
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Growth of the Turkish economy is sustainable, Finance Minister Mehmet Simsek said on Tuesday (November 2nd). He added that the economic expansion has helped create 3 million new jobs since 2007, and said it should help boost foreign direct investment inflows in the future.
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Investors from Macedonia and Turkey took part in a business forum in Skopje on October 28th. The event attracted representatives of more than 20 Turkish companies seeking opportunities in Macedonia.
(Various sources -- 29/10/10-05/11/10)
This content was commissioned for SETimes.com.
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Investors from Macedonia and Turkey took part in a business forum in Skopje on October 28th. The event attracted representatives of more than 20 Turkish companies seeking opportunities in Macedonia.
(Various sources -- 29/10/10-05/11/10)
This content was commissioned for SETimes.com.
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