Eurozone gives OK for aid disbursement for Greece

23/01/2013

Greece gets the green light for its next aid tranche. Also in business news: Romania may increase taxes for gas companies and subway workers in Athens continue to strike.

A woman passes by an advertisement in Athens. Greece will receive 9.2 billion euros from lenders this month. [AFP]

Eurozone finance ministers approved the next disbursement of Greece's emergency aid package on Monday (January 21st), making the month's total 9.2 billion euros. Last month, Greece received 34.3 billion euros, including funds for banks, as part of the country's 130 billion-euro bailout package approved early last year after an initial 110 billion-euro bailout in 2010.

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The economies in Southeast Europe will register an economic growth of 1.5 percent, according to the European Bank for Reconstruction and Development's latest forecasts for the region on Monday (January 21st). The bank previously forecast a 1.6 percent growth for the region, but said that due to several factors the expectations are now more modest.

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Russia has removed Cyprus from a black list of countries that Moscow discourages investment in, the finance ministry in Nicosia said. The decision will help the island attract Russian investment and reinforce its reputation as an international business centre.

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Turkish renewable energy firm NeSa Energy will build a 130 million-euro wind farm in southern Macedonia. The deal on the 44 turbines to be installed in the municipality of Bogdanci was signed on Thursday (January 17th).

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The Romanian government on Monday (January 21st) unveiled a draft law for additional taxation on gas companies enjoying higher profits due to the deregulation of the country's energy market. Under the draft, leading gas producers will pay a tax of up to 60 percent on income resulting from price hikes following the deregulation.

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Albania's power regulator revoked Czech utility CEZ's distribution license in the country on Monday (January 21st). In December, CEZ announced it has initiated a process to sell its Albanian distribution business. The company first signalled its intention to leave the Balkan country in October due to its failure to resolve a dispute with the government regarding tariffs and extraordinary taxes.

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Subway workers in Athens continued their strike for a sixth day on Tuesday (January 22nd), defying a court order issued on Monday to return to work. The protest was prompted by new 25 percent pay cuts. Protesters were joined by the state-run city bus, trolley and tram system employees, who also staged work stoppages.

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Serbia, Bosnia and Herzegovina, Montenegro, Croatia, Albania and Macedonia will set up a joint Southeast European Tourist Association, Aleksandar Senicic, head of the National Association of Tourist Agencies in Serbia, announced on Monday (January 21st). He said that the countries will sign a protocol of co-operation during the International Tourism Fair in Belgrade in February.

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Istanbul has attracted sponsorship deals worth $20 million from seven of Turkey's leading companies for its 2020 Olympic bid, local officials said on Monday (January 21st). Turkish Airlines, Koc Holding and mobile phone operator Turkcell are among the sponsors. Istanbul is competing with Madrid and Tokyo for the 2020 summer Olympic Games.

(Various sources -- 16/01/13-23/01/13)

This content was commissioned for SETimes.com.