Greece fixes prices for food at beaches


The new pricing is 30 percent lower. Also in business news: The Western Balkan Investment Framework approved a 1.1 million-euro investment for Albania's gasification plans.

Beach-goers in Greece will see a price cut for food and drinks. [AFP]

Greece introduced fixed prices for food, water and coffee sold on beaches that are 30 percent lower than previously. The fine for inflating prices is 500 euros. The measure was introduced following multiple complaints by tourists about the unreasonably high prices in beach restaurants and bars.


Cyprus could supply Bulgaria and other countries in Europe with natural gas to decrease the region's dependence on Russian deliveries, Bulgarian Foreign Minister Kristian Vigenin said during a visit to Nicosia. He noted the island's important role in the future north-south corridor, which will supply gas to Greece, Bulgaria, Romania and central Europe.


The Western Balkan Investment Framework approved a 1.1 million euro investment for Albania's gasification plans. The funds were obtained from Azerbaijan's state-controlled SOCAR and the board of the Trans-Adriatic Pipeline project.


Croatia's first low-cost airline, Dalmatian, will begin operations this month. Initially the company will fly from Zagreb to 11 cities in Europe. Tickets for some destinations are on sale at prices starting from 29.99 euros.


Montenegro company Uniprom will buy bankrupt aluminium plant KAP for 28.5 million euros. The new owner said he would fire more than half of the workforce in the company, which is the country's single biggest industrial employer. KAP has accumulated debts of around 380 million euros, or 10 percent of Montenegro's GDP.


Albania and Slovenia will work to improve their business co-operation, Albania Foreign Minister Ditmir Bushati and his Slovenian counterpart Karl Erjavec said at a meeting in Ljubljana. The fields with the greatest potential are energy, infrastructure and tourism, they said.


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The Council of Europe Development Bank has approved two loans worth 7.5 million euros to Bosnia and Herzegovina. The funds will be used to develop small- and medium-sized enterprises and to build social housing.


Albania's Legal Affairs, Public Administration and Human Rights Commission adopted a law on the ratification of the double taxation avoidance agreement with Kosovo. The law will promote international trade and economic relations between the two countries.

(Various sources -- 11/06/14-18/06/14)

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