Work is expected to begin this year in the southern town of Sibenik. In other business news: the Eurozone approves aid for Cyprus and Greece; Bulgaria avoids a financial crisis.
A new report recommends reform of the justice system to tackle corruption in energy deals.
The effort to drill for oil and gas could stimulate the economy and attract foreign investment.
Eagle Hills is investing up to 4 billion euros to develop property on the Sava River. In other business news: Ukraine, Georgia and Moldova signed free-trade pacts with the EU.
Experts say closer ties will increase the flow of capital in the Balkans.
Authorities say the flooding has damaged important infrastructure that will need to be repaired. In other business news: A research group warns of corruption in the business sector.
Officials say EU-funded initiatives will foster economic growth and anti-corruption efforts.
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.
Business leaders seek opportunities for new investment and deeper co-operation.
The fund said Athens does not need to impose new austerity measures this year. Also in business news: Bulgaria leads the region in Foreign Policy magazine's Baseline Profitability Index.
Regional co-operation and the implementation of EU standards in the western Balkans could result in thousands of new mining jobs and billions of euros in capital, experts say.
Bulgaria and Montenegro are expecting a drop in Russian tourists this summer. Also in business news: The European Bank for Reconstruction and Development will invest 500 million euros in Cyprus.
An investment of $400 million would create one of Europe's biggest textile factories.
The country will switch currencies by January 2019, officials said. Also in business news: A World Bank loan to Croatia will help improve the health care sector.
Cypriots can now cash cheques and have higher limits on transactions. Also in business news: Switzerland will grant 500 Croatian workers access to the country's labour market.