Business: Serbia, Turkey strike deals
30/10/2009
Serbia and Turkey sign several agreements this week. Also in business news: The IMF mission is returning to Albania, and the IPKO Visa Prepaid Card comes to Kosovo.
 Serbian Economy Minister Mladjan Dinkic. [Getty Images] |
Serbian Minister of Economy Mladjan Dinkic and Turkish Social Security Minister Omer Dincer signed several agreements on economic and infrastructure co-operation Monday (October 26th) in Belgrade. One involves the renovation of the Bujanovacka Banja spa complex. Turkish company Turker plans to build a modern health centre in Bujanovac and enhance spa tourism.
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The IMF will return to Albania to assist in drafting the 2010 budget and monitor the process, local media reported on Tuesday (October 27th). The IMF ended its mission to Albania last year when the government said it no longer needed assistance.
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Fiat will take over the Kragujevac-based Zastava auto plant, the Belgrade-based daily Danas reported on Wednesday (October 28th), citing government sources. The government and Fiat will sign a new agreement on the joint venture for Zastava on November 10th, which would raise the level of investments. Under the agreement, a new company will be formed and injected with 100m euros from Fiat.
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The Central Bank of Albania cut the interest rate by 0.5 points to 5.25% on Wednesday (October 28th). The move is an effort to boost lending in local currency.
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Kosovo telecommunications company IPKO, in partnership with Raiffeisen Bank Kosovo, introduced on Wednesday (October 28th) the country's first prepaid cards, in co-operation with Better Served Kosova and RevEurope. The IPKO Visa Prepaid Card allows customers to shop online, send money domestically, top off their IPKO mobile phone accounts and check account balances through short messages.
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The European Commission approved additional compensation Tuesday (October 27th) for the four closed units at Bulgaria's only nuclear plant. The new compensation will total 300m euros, in addition to the 550m euros already pledged to Bulgaria. The funds will be used to aid workers who lost their jobs at the nuclear plant, improve energy efficiency and develop renewable energy sources.
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The level of direct foreign investment in Kosovo plunged by 30% in the first six months of the year, according to Central Bank data. Experts blame the global economic crisis and unresolved issues confronting the country. Kosovo's image among members of the international community and its poor promotion as a good investment destination are were also cited.
(Various sources – 23/10/09 - 30/10/09)
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