Greek budget deficit down sharply in first half 2013

The Greek state budget deficit fell to 4.991 billion euros in the first six months of 2013, from 12.477 billion euros in the same period last year and down from a budget target for a deficit of 7.194 billion euros, the finance ministry said yesterday.

In a report, the ministry said that the budget’s primary deficit was 1.511 billion euros, in the January-June period, down significantly from a primary deficit of 3.316 billion euros last year and a budget target for a shortfall of 3.877 billion euros.

Serbia gets 212 small hydroelectric power stations

By signing a Memorandum of Understanding with the representatives of 15 municipalities and investors, the Energy Ministry today finished the procedure of allocating 212 sites for the construction of small hydroelectric power stations in Serbia.

If all these small hydroelectric power stations are completed on schedule, Serbia will get about 1,000 new jobs and a new capacity of 80 megawatts over the next three years, said Dejan Trifunovic, assistant to the Energy Minister.

Pegasus launches flights to Albania's capital, Tirana

Pegasus Airlines continues to expand its network rapidly with the addition of such new routes as Albania's Tirana. Pegasus' latest new destination of Tirana launches on September 2 and will run five times a week from Istanbul's Sabiha Gokcen airport.  

Huawei invests EUR 200 million in Serbian railway

The railway company Zeleznice Srbije (ZS) signed on Wednesday an agreement with the Chinese company Huawei on modernizing its telecommunications, with the total value of the investment standing at around EUR 200 million.

Bulgaria's Current Account Turns To Surplus, FDIs Down

Bulgaria's current account swung to a surplus for the first five months of 2013 from a deficit a year ago, data released by the Bulgarian National Bank showed Wednesday.

The current account showed a surplus of EUR 28.7 M from January till the end of May, compared to a deficit of BGN 1.04 B in the same period a year earlier.

Chinese Company “SEPCO 3” is building a thermal plant in Zenica

After a successful conduction of analysis and review of the project, municipality Zenica signed an agreement yesterday with the Chinese state company “Sepco 3” on the construction and purchase of equipment for the thermal plant Toplana, for which the foundations for construction were laid for this most important infrastructural project in Zenica and one of the most important energy projects in this part of Europe. 

Bulgaria opens Monday its first completed highway Trakiya

The last section of the Trakiya highway in southern Bulgaria, connecting the capital Sofia and the Black Sea city of Burgas, which has been built for 40 years, is finally going to be launched on Monday, July 15.

All Bulgarian Prime Ministers since the start of the construction in the distant 1973 are invited for the ceremony. Bulgarian President, Rosen Plevneliev, is going to attend as well.

After the Monday launch, for a first time Bulgaria will have not only a highway that connects Sofia to the Black Sea, but also its first completed highway ever.

Greek Intralot receives betting license in Poland

INTRALOT’s subsidiary in Poland, Totolotek, has received a 6-year Internet betting license from the Polish Ministry of Finance. According to the license granted, Totolotek will provide to players in Poland Fixed Odds Betting and Sport Pool Games through the Internet. The Company’s plans regarding interactive gaming in Poland also entail the development of Live Betting.

FYR Macedonia and Serbia Call off Trade Row

Serbian wheat and flour will be freely exported to FYR Macedonia while wine and tomatoes from FYR Macedonia can freely enter Serbia following a meeting of the two trade ministers.

Serbian Trade Minister Rasim Ljajic and his counterpart from FYR Macedonia, Ljupco Dimovski, have agreed that FYR Macedonia will amend a regulation curbing the import of wheat and flour from Serbia.

Russia transfers USD 300mn to Serbian budget

The government of the Russian Federation transferred USD 300 million worth of financial support to the Serbian state budget. This was announced on Wednesday in Belgrade by the Serbian Ministry of Finance and Economy.

Panasonic to Acquire Minority Stake in Gorenje as Part of Partnership Deal

Japanese electronics group Panasonic will acquire a significant though minority stake in Slovenian home appliance group Gorenje as part of a partnership deal that envisages cooperation in research and development, production and sales, the companies announced on Friday.

First Croatian Smart Phone Goes On Sale In Croatia

The first Croatian smart phone went on sale in Croatia on the weekend without much fuss. The Forcebook UltraPhone 40, produced by Croatian tech company HG Spot, is white, has a 4 inch screen, an Android 4.0 operating system, a 1 GHz processor and dual SIM capabilities.

Greek Trainose sale gets the green light from EC

The European Commission has given Greece the green light to start the privatization process for Greek railway service operator Trainose.

In a letter sent to the Transport Ministry, Commission Vice President Joaquin Almunia, informed Minister Michalis Chrysochoidis that the restructuring of the train operator, which started in 2010, as well as its forthcoming privatization will relieve the company of the burden that the issue of state subsidies has brought on it.

UK Mail enters Croatian market

The British independent delivery company UK Mail plans to be more active in Croatia after the country joins the European Union on 1 July. UK Mail have said they will be working together with Overseas Express.

Bulgaria to Build 1st Nuclear Waste Repository

Bulgaria's government has made the first steps towards creating the country's first nuclear waste repository.

According to a cabinet press release Wednesday, the area near the northern village of Harlets, nearby Bulgaria's only functioning NPP - theKozloduy NPP - has been designated as a site for the repository.

First Turkish bank arrives in Serbia

The first Turkish bank in Serbia yesterday opened its office at Terazije Square in Belgrade through its branch office in FYR Macedonia. Halkbank, the seventh largest bank in Turkey, is a bank with the largest growth rate in Europe since 2008.

FrieslandCampina extends contract with Unilever to produce Napoca ice cream until 2014 at Romanian factory

Dairy maker FrieslandCampina Romania has extended the contract with Unilever Romania and will continue to produce the Napoca ice cream in its plant in Baciu, Cluj county, at least until end-2014, the company has recently announced.

Montenegrin government decides to have Chinese companies build stretch of Bar-Boljare highway

China Communication Construction Company (CCCC) and its subsidiary CRBC are going to build a stretch of the Bar-Boljare highway, the Montenegrin government announced today.

The Chinese company has offered to build a "high-priority" stretch between Smokovac and Matesevo, with a length of 42 kilometers, for EUR 809 million, finance and transportation ministers, Radoje Zugic and Ivan Brajovic, told the press.