Business: Rhodes voted Europe's top tourist destination

09/05/2008

Users of a popular internet service chose a Greek island as their favourite place for travel in Europe. Also this week: Republika Srpska's Telekom Srpske posted 14m euros in profits.

Rhodes. [File]

The Greek island of Rhodes was voted the top tourist destination in Europe and the fifth best in the world, in a survey by the internet-based travel service TripAdvisor. The results were based on recommendations by the site's members. Austria came in second after Rhodes.

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Republika Srpska's main telecom operator, Telekom Srpske, posted a net profit of 14m euros in the first quarter of the year. According to a financial statement published on Wednesday (May 7th), the company's revenues reached 54m euros from January through March, while expenditures totalled 38m euros, and 2m were paid in taxes. The privatisation of Telekom Srpske was the most successful such deal to be implemented in Bosnia and Herzegovina last year.

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The European Commission approved 143m euros in state aid to Ford, the new owner of Romanian carmaker Automobile Craiova. The funds are aimed at enhancing plant production.

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The European Bank for Reconstruction and Development is granting a new credit line of 5m euros to finance small and medium-sized businesses in Macedonia. Companies will be able to use the money for investments, to purchase equipment and for overall development.

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Zagreb hosted an International Conference on Economic Trends on Wednesday (May 7th), focusing on the country's financial industry and economic development. The event, organised by the Croatian Employers' Association, the Croatian Banks' Association and the Croatian-Austrian Commercial Chamber, concluded that Croatia has suffered the impact of the global economic crisis, high oil prices and the overall downturn on world stock exchanges.

(Various sources – 02/05/08-09/05/08)