SETimes.comBusiness roundup: Kosovo to join IMF, World Bank next year
24/10/2008
Kosovo is projected to join IMF and the World Bank in 2009. Also in business news: Swedish retailer IKEA wants to open five retail outlets and possibly a factory in Serbia, while annual inflation in Montenegro reached 8.8% in September.
Kosovo Finance Minister Ahmet Shala said on Wednesday (October 22nd) that Kosovo will become a member of the IMF and World Bank by next spring. Shala made this statement at the annual IMF session, which he attended along with the Kosovo delegation as an observer.
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The Croatian Economic and Social Council (ESC), a tripartite panel representing employers, unions and the government, launched a public discussion on the country's energy strategy October 20th. ESC President Ivica Mudrinic said Croatia plans to invest about 10 billion euros in its energy sector by 2020, out of which 4.5 billion euros will fund new power plants, including a thermal power station in Slavonija.
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Swedish furniture maker and retailer IKEA wants to invest between 875m and 1 billion euros in five retail outlets and possibly a factory in Serbia, Prime Minister Mirko Cvetkovic said after meeting with IKEA board chairman Mik El Ohlson on October 17th. Investments, according to projections, will create 9,250 new jobs by 2015. The first store will open in Belgrade in 2011.
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Republika Srpskas (RS) parliament gave final approval on October 16th for a 2.9-billion-euro highway concession contract with the Austrian firm Strabag. The contract envisions 400km of highways that Strabag will operate for 30 years before the government takes over.
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Annual inflation in Montenegro reached 8.8% in September, an increase of 0.9% from August, the Monstat statistical office reported on Wednesday (October 22nd). Inflation over the first nine months of the year was 6.5%, Monstat announced. The average net salary in the country in September was 429 euros, while the gross salary was 630 euros.
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Sofia Airport received 3-A status on October 19th, which means that planes can land with 200m visibility in foggy weather, Bulgarian Transport Minister Petar Mutafchiev explained. Until now, Bulgaria has not had an airport in this category. It means far fewer cancelled flights, says Mutafchiev.
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The Athens Stock Exchange plunged on Wednesday (October 22nd), as did other international markets. The composite index dropped 5.28% to end at 2,025.93 points, with turnover of 247.7m euros. All sectors moved lower, with the exception of healthcare, which ended 0.26% higher.
(Various sources --17/10/08-24/10/08)