Resorts struggling with a lack of snow

15/01/2014

Tourism in the mountains is down by 70 percent, according to a study. In other business news: groups call for a solution to the Cypriot issue.
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Romania’s mountain resorts are losing more than 1 million euros a day from a lack of snow. [AFP]

Hotels and restaurants in Romania's mountain resorts are losing more than 1 million euros a day due to the lack of snow -- a problem affecting the whole region. According to analysis by the Mediafax agency, snowless weather has reduced the number of tourists in the mountains by 70 percent to 80 percent compared to last year.

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Businessmen from Turkey, Greece and Cyprus issued a joint statement urging leaders to begin talks on a peaceful solution to the Cypriot issue. According to them, a peaceful resolution would boost high-level economic co-operation between all parties.

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The ECB unveiled a new 10-euro banknote, which will enter into circulation on September 23rd. The note resembles the first one issued in 2002, but has a fresh look and enhanced security features that will make it harder to counterfeit.

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The standard VAT rate in Cyprus increased from 18 percent to 19 percent on Monday (January 13th). The higher rate, affecting some 80 percent of local goods and services, is part of the island's commitments under its bailout of 10 billion euros from international lenders.

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Last year the number of tourists in Croatia increased by 5.5 percent compared to 2012, reaching the record total of 12.4 million people, according to Tourism Ministry data. Most of the tourists came from Germany, Slovenia and Austria, the data showed.

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Considerable uncertainty still hangs over the Greek economy although the country is saying it will exit its IMF-EU bailout in line with plans this year, the IMF said. Under the plan drafted in 2012, the IMF financing for Greece should continue until 2016, while the EU-ECB funding should end this year.

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Air Serbia appointed the first female pilots in the history of the Serbian air carrier. Three women have started training to fly commercial aircraft as part of the professional pilot staff.

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Italian metallurgical producer Metalleghe will build another plant in Bosnia and Herzegovina's Mrkonjic Grad. The 30 million euro facility will be completed in two years and will create 100 new jobs.

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Montenegro and Turkey have been included in a list published by British newspaper The Telegraph ranking the world's top 20 destinations that are best for investment in real estate. Turkey is in the fifth position, while Montenegro is ranked eighth.

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Romania registered the biggest quarterly economic growth in the EU in the third quarter of this year, Eurostat data showed. At 1.6 percent, the country's GDP increased at a higher rate than any of the other members of the bloc. Cyprus and Croatia were among the countries with negative growth at -0.8 percent and -0.1 percent respectively, while Bulgaria's economy expanded by 0.5 percent. In total, the EU's GDP grew by 0.3 percent in the third quarter.

(Various sources: 08/01/2014-15/01/2014)

This content was commissioned for SETimes.com.
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