Page 6 - bne_newspaper_July_28_2017

The Regions This Week
July 28, 2017 www.intellinews.com I Page 6
Southeast Europe
Romania approved CEFC’s takeover of 51% of
KazMunayGas International (KMGI), the majority shareholder in Romania’s biggest oil refiner and petrochemical producer Rompetrol. The deal with the Chinese company had been in question after the refinery was seized by Romanian prosecutors in a probe into a historic debt conversion.
The number of foreign holidaymakers in Bulgaria increased 5.9% y/y to 746,863 in June, accelerating from a 5.3% y/y rise in May. Tourism Minister Nikolina Angelkova forecast 7% to 10% growth in tourist numbers this summer after an outstanding season last year.
Bosnia’s industrial output returned to growth in June. Output increased 3.1% y/y in June, swinging from a 1.2% y/y decline in May.
Montenegrin power firm EPCG may drop plans for a new power plant. The energy monopoly is reportedly considering upgrading the existing unit at the Pljevlja coal-fired power plant rather than building a new unit.
The National Anticorruption Directorate indicted Romanian telecom operator RCS&RDS for brib- ery and money laundering and seized two of its assets with a value of around €3mn. A probe into RCS&RDS was announced in May, coinciding with its parent Digi Communications’ IPO on the Bu- charest stock exchange.
Romania opted to buy a $3.9bn Patriot missile defence system as it ramps up military spending. Defence Minister Adrian Tutuianu also outlined plans to buy HIMARS mobile missile systems worth €700mn and 36 new F-16 jet fighters.
Fiat remained Serbia’s top exporter in H1 2017, despite a strike that halted production at the end of June. The company’s exports were valued at €562.2mn in January-June.
Slovenia risks losing a planned investment by
Canadian automotive giant Magna, Minister of Economy Zdravko Pocivalsek warned. Magna wants to build a paint shop near Slovenia’s second city Maribor but is facing bureaucratic delays, and could decide to invest in Hungary instead if the is- sues are not resolved by September.
German buyers of textiles and clothing can- celled trips to Turkey amid rising political ten- sions between Ankara and Berlin. Germany is
the Turkish textile industry's largest export mar- ket, while the industry accrues the second largest share of Turkey's export revenues, trailing only the automotive industry.
Turk Eximbank obtained a three-year, $200mn loan from China Development Bank. The export- import bank has sourced a total of $2.1bn in foreign financing, including $500mn from Chinese banks, so far this year.
Turkey's Dogan Holding sold Milta Turizm to Koc Holding subsidiary Tek Art Kalamis for $105mn. The acquired Istanbul-based firm provides hotel management, marina operations, travel agency services, fleet and daily car rentals and event management services.
Albanian PM Edi Rama called for Serbia to recognise Kosovo as an independent country. He said the move would contribute to the stabilisa- tion of the Balkan region. Rama’s call came after Serbian President Aleksandar Vucic said that a lasting solution should be found for Kosovo, which was a Serbian province before unilaterally declar- ing independence in 2008.
Bulgaria’s competition authority allowed Dutch company Dietsmann to acquire Bulgarian group Energoremont Holding. Energoremont won
a BGN88mn contract for the modernisation
of Bulgaria’s sole oil refinery Lukoil Neftohim earlier this year.