Turkish businessmen have their eye on Serbia. Also in business news: Cyprus ranks highest in the region in this year's Global Enabling Trade report, and road toll charges in Croatia will increase by 15% on Friday.
Serbia's construction sector is drawing Turkish interest. [Reuters]
Turkish businessmen are interested in investing in Serbia, especially in the construction field, the TUSKON Confederation of Businessmen and Industrialists of Turkey Vice President Ahmet Ciger told Tanjug on Thursday (May 24th). TUSKON is holding an event called World Trade Bridge next week in Istanbul, which will bring together over 3,000 local and foreign engineering, construction, furniture and textile businesses from 140 countries.
Four of Greece's leading banks received an 18 billion-euro bailout injection from the European Financial Stability Facility on Monday (May 28th). The National Bank of Greece, Alpha Bank, Eurobank and Piraeus Bank will use the funds for recapitalisation.
Among the countries in the region, Cyprus ranks highest in this year's Global Enabling Trade report, published by the World Economic Forum on May 23rd. Though it has fallen six positions compared to the previous report in 2010, the country stands high at 37th. Montenegro was ranked at 39th, Croatia at 46th, Albania at 49th, Macedonia at 61st, while Turkey ranked 62nd. Greece was at 67th, followed by Romania at 69th and Serbia at 71st. Bulgaria ranked 74th, while Bosnia and Herzegovina was at 80th. The Global Enabling Trade Report measures 132 economies and their necessary attributes for enabling trade.
Montenegro and Bosnia and Herzegovina (BiH) have high potential for economic co-operation, Montenegrin Prime Minister Igor Luksic and BiH Foreign Minister Zlatko Lagumdzija said at a meeting in Podgorica on Monday (May 28th). The two officials highlighted the possibility of establishing an airline connection between Banja Luka and Tivat, as well as opportunities for regional co-operation in the building of the Adriatic-Ionian motorway and the further reconstruction of the Pluzine-Foca road.
Road toll charges in Croatia are set to increase by 15% on Friday (June 1st). Although the fee will be higher, drivers will be able to buy new electronic toll payment devices at the symbolic price of 0.15 euros, which will offer a 25% discount on tolls should drivers deposit 65 euros in advance.
Turkey's quota in the IMF will increase fourfold, turning the country into one of the 20 biggest economies in the Fund, IMF Permanent Representative in Turkey Mark Lewis said on Friday (May 25th). On Thursday, the Turkish parliament approved a proposal to increase the country's share in the IMF financial resources from 0.61% to 0.98%. The changes will become effective once approved by the IMF.
Greece, along with Italy and Spain, is facing an olive oil crisis, the Financial Times reported on Tuesday (May 29th). The price of the product has collapsed to its lowest levels in ten years due to lower domestic consumption caused by the economic crisis. The three countries account for 70% of the global production of olive oil.
(Various sources -- 23/05/12-29/05/12)