Turkey leads region's competitiveness rankings


Balkan countries follow in the World Economic Forum list. Also in business news: Romanians rally against plans for a gold mine in Rosia Montana.

Turkey ranks 44th on the list of 148 world economies in the latest global competitiveness report. [AFP]

Turkey ranks highest among its regional peers in the latest World Economic Forum's Global Competitiveness Report 2013-2014. At 44th in the list of 148 world economies, Turkey is way ahead of the rest of the Balkan countries featured in the ranking, including Bulgaria at 57th, Cyprus at 58th, Montenegro at 67th, Macedonia at 73rd, Croatia at 75th, Romania at 76th, Bosnia and Herzegovina at 87th, Greece at 91th, Albania at 95th, and Serbia at 101st.


Thousands of Romanians rallied in Bucharest over the weekend against plans for a Canadian gold mine in the northwestern town of Rosia Montana. The protesters are concerned about the environmental impact of what would be the biggest gold mine in Europe, where gold and silver will be extracted using cyanide. Supporters of the project say it will create jobs and revive an area, which has suffered continuous economic deprivation.


Gazprom is considering building a pipeline from Constanta, Romania, to Pancevo in Serbia to transport Russian crude oil to its Serbian refineries. According to estimates the project will cost about 200 million euros and will secure the transportation of 7.5 million tonnes of crude oil a year.


Cyprus has successfully performed its first production test for natural gas underneath the Mediterranean Sea. If proved extractable, natural gas deposits could bring the cash-stripped country revenues worth 34 billion euros.


Representatives of Slovenia, Croatia, Bulgaria, Macedonia and Montenegro signed an agreement to transform the Slovenia-based Centre for Excellence in Finance into an international organisation. The centre works to promote international standards and best practices in public finance management and central banking by learning events, knowledge sharing and research initiatives.


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Thousands of protesters demonstrated in Thessaloniki as Greece's Prime Minister Antonis Samaras promised that the end of recession in the ailing country will come in 2014. The demonstrators, who chanted against on-going austerity measures, were organised by the main labour unions GSEE and ADEDY and opposition parties.


Cyprus has recorded its biggest economic slowdown in 40 years. Official data showed that in the second quarter GDP declined by 1.8 percent compared to the previous reporting period and by 5.9 percent on an annual basis.

(Various sources – 09/04/13-09/10/13)

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