SETimes.comDrought causes losses in regional countries
29/08/2012
Losses in both crops and euros are plaguing the region due to the lack of water. Also in business news: Bulgaria and Russia signed a protocol on the technical aspects of the Bulgarian section of the South Stream gas pipeline.
The drought in the Balkans this summer will cause huge losses to local farmers, the AFP reported on Saturday (August 25th). In Bosnia and Herzegovina, the heat has already destroyed 30 to 40 percent of the crops with losses estimated at 300 million euros. The National Farmers' Association in Croatia believes losses there will be to 134 million euros. Initial assessments in Serbia suggest the country will lose around 1 billion euros, while in Kosovo and Macedonia the crops will be smaller by 20 percent.
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France decided to open 150 professions for Bulgarian and Romanian workers as part of the government's efforts to ease the access of Roma to the country's labour market. The list of professions includes workers in the field of construction, hotel and restaurant business, agriculture, fishing, metal processing and transport.
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Greece is getting rid of two of its three government jets to cut costs, the government announced on Monday (August 27th). The biggest one will be handed over to the air force to be used for pilot training and medical transport. The second will be sold and the money will be given to the armed forces.
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A joint US-Greek investment has created a new low cost air carrier in the debt-stricken country. Hellas Airlines, which was officially introduced on August 21st, will start operating in January 2013 and will offer domestic flights, as well as regular international routes to and from Rome, London, Madrid, Paris and Moscow.
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Fox Marble will be the first company from Kosovo to be quoted on the AIM -- the London Stock Exchange's international market for smaller growing companies -- at the end of the month. The firm hopes to attract investors through its five quarries in Kosovo. Initial marble production is expected to kick off within four months.
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Republika Srpska signed a 180m-euro agreement on Friday (August 24th) with a consortium of companies from Bosnia and Herzegovina to build a 36km section of motorway between the northern towns of Prnjavor and Doboj. The stretch is part of a 75km highway that will connect Banja Luka with the Bosnian section of the pan-European Corridor VC.
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Bulgaria and Russia signed a protocol on Monday (August 27th) detailing the technical aspects of the Bulgarian section of the South Stream gas pipeline. The pipeline, which will carry Russian gas to Europe under the Black Sea, is expected to be completed by 2018. Russia also agreed on an 11 percent cut in gas prices for Bulgaria, which will be valid until the start of next year.
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Bioplanet has launched the first Croatian-made electric bike designed for the global market, local media reported on Monday (August 27th). The vehicle can go at an average speed of 25km/h and can travel over 40km with one battery charge.
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The Cyprus Central Bank announced on Friday (August 24th) that it has commissioned an independent probe aimed at checking the circumstances that allowed the two biggest Greek-exposed banks on the island to receive state aid. Bank of Cyprus and Cyprus Popular Bank represent almost 40 percent of local banking assets. Due to their failure to meet the required recapitalisation needs, Cyprus applied for an EU bailout package in June.
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The US and Macedonia signed an Open Skies air services agreement on Thursday (August 23rd). The deal, which allows unrestricted air service by airlines between and beyond the two countries' territories, eliminating restrictions on the frequency of flights, type of aircraft and prices charged, will become effective 30 days after its initialling.
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Serbia will reduce excise duties on fuel produced partly with biofuel, in an effort to boost the use of renewable sources and ease pressure from crude oil prices that have reached record highs recently, Energy Minister Zorana Mihajlovic announced on Friday (August 24th). The cut will be proportionate to the share of biofuel in the respective products, the minister explained. Fuel produced from biomass entirely in Serbia is excise free.
(Various sources -- 23/08/12-29/08/12)