Romania, BiH boost co-operation


Infrastructure, tourism and energy projects are on the agenda of the two countries. Also in business news: Albania's parliament approved the intergovernmental agreement on the Trans Adriatic Pipeline.

Romanian President Traian Basescu (right) met with his BiH counterpart Nebojsa Radmanovic in Bucharest. [AFP]

Romania is willing to take part in important infrastructure, tourism and energy projects in Bosnia and Herzegovina (BiH), President Traian Basescu said during a joint press conference with his BiH counterpart Nebojsa Radmanovic in Bucharest. As part of the visit, the economy ministries of the two countries signed a bilateral agreement of economic co-operation.


Andreas Artemis, the chairman of Bank of Cyprus, the biggest lender on the island, resigned in a move he said is in protest to the punishing conditions in a multi-billion-euro bailout package agreed in Brussels. Under the terms of the deal, depositors with more than 100,000 euros in local banks will lose up to 40 percent of their savings


Albania's parliament approved the intergovernmental agreement with Italy and Greece on the construction and operation of the Trans Adriatic Pipeline. The pipeline will carry natural gas from the Caspian region via Greece and Albania and across the Adriatic Sea to Italy and further to Western Europe. Its initial capacity will be 1 billion cubic metres a year.


British Prime Minister David Cameron unveiled tough new measures aimed to limit the economic and social impact of a feared wave of Bulgarian and Romanian immigrants after the countries join Schengen on January 1st 2014. The measures include tightening access to housing and benefits.


Turkey's leading diary producer Sutas has acquired a factory in Romania. The facility will open jobs for 300 people in its first year of operation, with plans to increase their number to 500. Last year, Sutas also bought a diary production facility in Skopje, Macedonia.


Norwegian company Statkraft will acquire Austria EVN's 50 percent share in the Devoll Hydropower ShA in Albania, obtaining full control of the company. The Devoll hydropower project consists of three hydropower stations in the Devoll Valley with a total installed capacity of 278 mW.


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The EU approved additional state aid for Croatia's Brodotrogir shipyard after the country promised to reduce the facility's production output and sign a deal to sell it before it joins the EU in July this year. For the past 20 years, Croatia has granted subsidies worth 4.76 billion euros to its four money-losing shipyards.


BH Airlines, Bosnia and Herzegovina's state air carrier, will delay the launch of its new route between Sarajevo and Skopje by a month until May 1st. The decision came as the carrier delayed the arrival of its jet engine aircraft until May.

(Various sources -- 20/03/13-27/03/13)

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