SETimes.comRegional air carriers co-operate to improve travel
23/05/2012
Airlines from Serbia, Croatia, Montenegro and Slovenia said they will jointly use their planes to improve regional travel. Also in business news: Turkey, Bulgaria and Qatar are mulling several-large scale investment projects.
Four air carriers in the region agreed on Sunday (May 20th) to co-operate in a move aimed to significantly improve air links and performance. At a forum in Budva, Serbia's JAT Airways, Croatia Airlines, Slovenia's Adria Airways and Montenegro Airlines said they will jointly use their planes, but stressed they would not set up a single company.
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The European Bank for Reconstruction and Development (EBRD) said in its latest forecasts Friday (May 18th) that Southeast Europe will register an economic growth of 1% this year. The bank is most buoyant in its forecasts for Turkey, where the economy is expected to grow by 2.5% this year. Expectations for Macedonia are for a growth of 1.3%, followed by Albania, Bulgaria and Romania with 1.2% each. GDP is expected to expand by 0.4% in Bosnia and Herzegovina and Montenegro, and by 0.1% in Serbia. The only country in the region where the bank expects negative growth is Croatia, with -0.6%.
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Austrian bank Hypo Alpe Adria announced on Monday (May 21st) it is selling part of its network in the former Yugoslavia, hoping to gain at least 1.5 billion euros from the process. The institution expects interest from banks in Europe, Russia, Turkey, Southeast Asia and financial investors. Hypo Alpe Adria's network in the region consists of six banks in Croatia, Serbia, Slovenia, Montenegro and Bosnia and Herzegovina.
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Turkey, Bulgaria and Qatar are mulling several-large scale investment projects, the prime ministers of the three countries announced after meeting in Bulgaria on Friday (May 18th). One of the possible joint projects is a high-speed road to connect the towns of Svilengrad and Rousse in Bulgaria, which will secure a route between Asia and the Danube River.
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More than 400 international companies took part in the 11th EXPOKOS 2012 fair that was held in Pristina last week. The exhibition attracted companies from Kosovo, Albania, Macedonia, Croatia, Slovenia, Turkey, Serbia, Bulgaria and others -- with operations in civil engineering, energy, technology, furniture manufacturing and real estate.
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Turkish Energy Minister Taner Yildiz said on Sunday (May 20th) his country has agreed with Iraq to renew petroleum exchange, which was interrupted five years ago. Under the plan aimed at diversifying supplies, Turkey will start buying crude oil and selling oil products to Iraq. Currently, Turkey buys natural gas from five countries, while its crude oil supplies come from 12 states.
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Nicosia is hosting the 37th edition of the Cyprus International Fair 2012 through Sunday (May 27th). The event has attracted 247 participants representing over 1,000 local and international companies. Bulgaria and Greece are among the official international participants, alongside the US, Hungary, Palestine, South Africa and Kuwait.
(Various sources -- 16/05/12-23/05/12)