Business: Railway line making a comeback
23/10/2009
After nearly two decades, the railway line between the capitals of Serbia and Bosnia and Herzegovina is reopening. Also in business news: Macedonia gets 66 new windmills and Kosova Motors Company is the new official local dealer of Ford, Land Rover and Nissan.
 A rail ticket from Sarajevo to Belgrade will cost 25 euros. [Getty Images] |
Bosnia and Herzegovina and Serbian railway authorities agreed on Tuesday (October 20th) to restore, after 18 years of interruption, the Sarajevo-Belgrade-Sarajevo direct railway line starting on December 13th.The one-way ticket price is 25 euros and the trip will last eight and a half hours.
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Installation of 66 windmills near Stip, Macedonia, is expected to start in the spring of 2010. The Spanish company Inval explored opportunities to use wind energy for electricity production in the country.
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Macedonia will introduce a smoking ban in bars and restaurants starting January 1st 2010. Under the current regulations, smoking is allowed only in 50% of the space, but the rule is not enforced. Smokers who break the ban after January 1st will be fined 300 euros, and the owner of the bar or restaurant will be fined from 2,000 to 4,000 euros.
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An IMF mission arrived on Thursday (October 22nd) in Belgrade for a simultaneous second and third review under the 2.92 billion-euro stand-by arrangement with the country. The mission will remain in Serbia until November 4th. The experts' conclusions will decide the disbursement of the remaining 1.2 billion euros from the loan Serbia is entitled to receive this year.
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The European Bank for Reconstruction and Development says Albania's economy will record a growth of 3% in 2009. The first six months have been strong for the country with a 4-5% growth, while the second half of the year will be significantly worse with an expected drop of 1.6%, the head of EBRD office in Tirana, Daniel Berg, said on Tuesday (October 20th).
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Kosova Motors Company will be the official local dealer of Ford, Landrover and Nissan, company representatives announced on Monday (October 19th). They added that their future plans are to provide maintenance and car service for the three brands.
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Romania will face a price rise after the November 22nd presidential elections, warns a report published by PriceWaterhouseCoopers on Wednesday (October 21st). The forecasts are dramatic, as the price of electricity will rise as much as 30% and fuel prices by at least 20%. Cigarette prices are expected to soar by 34%.
(Various sources – 16/10/09-23/10/09)
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