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The Regions This Week
May 31, 2019 www.intellinews.com I Page 7
Southeast Europe
Serbia could launch a tender for the privatisation of the local petrochemical unit HIP-Petrohemija by the end of 2019, eKapija reported. HIP-Petrohemija JSC is the largest producer of petrochemicals in Serbia and an important company within the chemical industry of Southeast Europe
Authoritarian rule was responsible for worse conditions in Turkish courts, prisons and also the economy, the European Commission said. For a couple of years now the word in diplomatic circles has been that Turkey’s application to
join the European Union has essentially been indefinitely frozen because of the Erdogan administration’s disregard for human rights.
Romanian online retailer eMag plans to invest €150mn in technology in the coming five years, the company’s general manager, Iulian Stanciu, said. Last year, eMag Group had a turnover of RON4.77bn (€1.03bn), 17.5% up on the year, on the back of an increase in the number of sellers which use its online platform.
Bosnia and Serbia are considering taking countermeasures against Kosovo if Pristina refuses to revoke its 100% import tariffs by July 1, the government in Belgrade said. Kosovo introduced 100% tariffs on goods from Serbia and Bosnia & Herzegovina in November 2018, after Belgrade thwarted Pristina’s bid to join Interpol.
Slovenian company TAB will invest €25mn to build a starter battery plant in North Macedonia, the government in Skopje announced. The authorities in Skopje are making efforts to create favourable conditions in aim to attract more FDI to North Macedonia
Albanian net power generation plunged to 1,281 GWh in the first quarter of 2019 from 3,213 GWh in the same period last year, the country’s statistics agency INSTAT announced. Albania relies mostly
on hydropower production and favourable weather conditions are essential for the performance of the power plants.
Tsvetan Tsvetanov, known as Bulgarian Prime Minister Boyko Borissov’s right hand man, resigned from all leadership positions, the party said in a statement on May 30. Tsvetanov previously left parliament over a scandal concerning purchases of luxury apartments by politicians at very low prices.
Zhongya Nekretnine, a company owned by Chinese investors, plans to invest €20mn in Hotel Zagorje in Croatia’s Kumrovec, N1 Zagreb reported. Hotel Zagorje used to be a political academy in former Yugoslavia.
The EBRD approved its new country strategy for North Macedonia, stressing the need for private sector development, green economy transition and further regional integration.
Bosnia should fulfil 14 key priorities in order to be recommended for launch of EU accession talks, the European Commission said after adopting an opinion on the country’s application for membership in the bloc. The country’s
EU membership process has been stalled by continuous political disagreements.
Romania’s MedLife continued its expansion with the acquisition of a 65% stake in Badea Medica Center of Excellence in Cluj Napoca. MedLife operates Romania’s largest network of clinics.
The World Bank approved financing of €500mn to support sustainable development in Turkish cities. The programme aims to improve the economic, financial, environmental and social sustainability of Turkish cities by enabling inter- ested municipalities to access financing for priority investments and to deliver improved services to citizens.