Aegean Airlines says the two companies' names and logos will remain. Also in business news: Kosovo and Macedonia signed a 1.2 million-euro financing agreement on the Cross-Border Co-operation Programme IPA 2011.
Commuters stand in front of electronic check-in machines of Aegean airlines inside Athens' Eleftherios Venizelos Airport. Aegean is making a fresh attempt to buy Olympic Air in a bid to create a stronger domestic competitor. [Reuters]
Greek air carrier Aegean Airlines has launched a fresh attempt to acquire rival Olympic Air for 72 million euros. Aegean announced the agreement on Monday (October 22nd), and said that that Olympic Air will become its subsidiary and the brand names and logos of the two companies will be maintained.
Bulgaria and Albania will work to secure more and better roads in the Balkans, the prime ministers of the two countries, Boyko Borissov and Sali Berisha, told a joint press conference in Tirana on Monday (October 22nd). The two officials discussed ways to promote trade and investment between their countries, outlining the excellent potential for further development of co-operation in food production, banking, mining, construction and infrastructure.
Kosovo and Macedonia signed a 1.2 million-euro financing agreement on Monday (October 22nd) on the Cross-Border Co-operation Programme IPA 2011. The agreement aims to promote sustainable development in the cross-border areas by supporting joint activities and projects that would improve the social and economic situation of the population, boost better management of human, natural and cultural resources and strengthen the image of cohesion in the region.
Croatia's state-controlled companies plan to boost investment by 25 percent this year compared to 2011, with most of the money going to infrastructure and energy projects, Economy Minister Radimir Cacic said on Monday (October 22nd). In the first nine months of the year, eight state firms have invested a total of 710 million euros, mostly in highways and gas pipelines.
The Organisation for Economic Co-operation and Development's Financial Action Task Force gave Turkey a deadline of February 22nd to tighten local legislation blocking the financing of terrorist groups. The organisation expressed its disappointment and concern about "Turkey's continued failure to take action" and threatened that if the country fails to meet this deadline, it may be suspended from its ranks.
Romania has asked four of the biggest power operators in Europe to reconsider their plans to build two nuclear reactors in the country, Deputy Economy Minister Rodin Traicu said on Wednesday (October 17th). France's GDF Suez, Spanish Iberdrola, Germany's RWE and Czech CEZ withdrew from the project over the past two years, citing economic and market uncertainties.
Serbian holding company MK Group DOO announced on Thursday (October 19th) that it has renewed a bid to acquire Greece's Hellenic Sugar. The company dropped out of the previous attempt to buy an 82 percent stake in the Greek producer over regulatory obstacles.
(Various sources -- 17/10/12-24/10/12)