Serbia's NIS is acting on a plan to expand through the region. Also in business news: The UN is offering $20,000 to anyone who invents a relatively cheap renewable energy solution for over 3,000 families in Bosnia and Herzegovina.
OMV operates 28 stations in BiH. [OMV]
Serbia's oil and gas company NIS announced on Friday (November 30th) it has acquired all 28 gas stations owned by Austria's OMV in Bosnia and Herzegovina. No financial details were disclosed. The deal is part of NIS' strategy to expand its presence in the Balkans.
The UN announced on Thursday (November 29th) it is offering $20,000 to anyone who invents a relatively cheap renewable energy solution for Bosnia and Herzegovina. The winning solution should cost no more than $6,500, should be easy to handle and maintain and provide enough hot water and electricity to supply an average household. Once approved, it will be available to 50 families.
Greece launched a bid to buy back privately held debt at a steep discount on Monday (December 3rd), and pledged to spend up to 10 billion euros in the operation. The same day, eurozone finance ministers gathered in Brussels, where Eurogroup President Jean-Claud Juncker expressed confidence the bid would succeed and Greece would get the next 34.4 billion-euro aid tranche at the December 13th meeting of the group.
Bulgaria's parliament approved legislative amendments offering citizenship to foreigners ready to invest at least 500,000 euros in the country. Candidates would have to invest in a local company working on high-priority investment projects in the fields of industry, infrastructure, transport or tourism.
Turkey's inflation and current account deficit will remain well above comfort levels, the OECD said in its biannual Economic Outlook report last week. The organisation predicts GDP growth will be around 4.1 percent in 2013 and 5.2 percent in 2014.
Croatia's economy shrunk for the fourth consecutive quarter in the three months that ended in September, the Bureau of Statistics announced on Friday (November 30th). Over the review period, GDP contracted by 1.9 percent from the same period a year ago. Economic growth was minus 2.2 percent in the second quarter.
(Various sources -- 28/11/12-05/12/12)