SETimes.comBusiness: New business bill passed in Republika Srpska
25/04/2008
A new bill is expected to improve business practices in Republika Srpska. Also in news this week: the Albanian government signed a 230m loan agreement, and two Kosovo companies are under investigation for alleged misappropriation of public funds.
Republika Srpska's government adopted a new bill Friday (April 18th) that would shorten and simplify the process of setting up companies. The draft law would also strengthen the rights of small shareholders. The bill is expected to enhance business practices, boost corporate relations and improve communications within firms.
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The Albanian government signed a loan agreement Monday (April 21st) worth 230m euros with Alpha Bank and NBG Bank to finance the most expensive 60km stretch -- between Rreshen and Kalimash -- of the four-lane highway connecting the port city of Durres with Pristina, Kosovo. The loan will bear a 5.5% interest rate for 15 years.
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Senior officials and other employees at the two largest Kosovo companies, Kosovo Energy Corporation and Post and Telecom of Kosovo, are under investigation for alleged misappropriation of public funds that cost the government millions of euros. The inquiry will focus on unauthorised access to the telecom system, misuse of company vehicles and the involvement of non-employees in abuses.
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Bosnia and Herzegovina (BiH) has attracted 150m euros in foreign direct investments (FDI) in the first quarter of 2008, Haris Basic, head of the Foreign Investments Promotion Agency, said on Tuesday (April 22nd). According to the central bank, the net FDI inflow in 2007 reached 1.47 billion euros.
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The Bulgarian Ministry of Economy and Energy choose BNP Paribas to structure and arrange financing for construction of a second nuclear power plant in Belene on Tuesday (April 22nd). The Bulgarian government holds a 51% stake in the project. Total investments of approximately 4 billion euros are expected.
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Croatian Prime Minister Ivo Sanader and Economy Minister Damir Polancec pledged Wednesday (April 23rd) to preserve jobs in the shipbuilding sector. The industry is facing a thorough restructuring, which will lead to a major overhaul of activities in the sector and potential job cuts. Polancec, however, emphasised that all rescue plans for shipbuilders include preservation of current employment rosters.
(Various sources – 18/04/08-25/04/08)