Post by Peter Ellis on Oct 17, 2004 22:21:54 GMT 1
Croatia to receive 245 million euros from the EU in the next two years
An increase of between 7 and 10 percent in tourism revenue in 2004
Croatia to invest between 350 and 500 million kuna in the construction
of border crossings
Existing business space tenants to enjoy priority treatment
A retail sale drop in August
Match Telecom request rejected
REGIONAL NEWS
Serbian government and the IMF reach agreement on the 2004 and 2005
budget deficit
Dinkic: Inflation standing at 9.1 percent
Hit from Nova Gorica announces public offer for the purchase of Kompas
Hotel shares
BM__1Croatia to receive 245 million euros form the EU in the next two years
The progress in Croatia's negotiations on full EU membership will depend on
the sustainability of political reforms in the country and its fulfilment of
international obligations, reads the document that was made public by the
European Commission on Wednesday.
"The progress in negotiations will completely depend on the sustainability
of political reforms and the fulfilment of obligations that Croatia has
regarding regional cooperation with other countries of former Yugoslavia and
other international obligations like the cooperation with The Hague
Tribunal," stresses the Commission in the pre-accession strategy document
for Croatia.
In the 3-page document, the Commission proposes that the stepped-up
pre-accession strategy drawn up for candidate members, adopted by the
European Council in Luxembourg in 1999, should be extended to Croatia and
also mentions the June decision made by the European Council that the
negotiations on membership begin early next year.
By achieving candidate status, Croatia has been given access to
pre-accession funds of the EU. In the next two years Croatia should, in line
with the Commission proposal, draw a total of 245 million euros from three
programs: PHARE, ISPA and SAPARD. Next year, some 105 million euros will be
at Croatia's disposal (80 million from the PHARE program and 25 million from
ISPA).
In 2006, Croatia will be able to draw 140 million euros (80 through the
PHARE program, 35 million through ISPA and 25 million through SAPARD).
As of autumn of next year the Commission will start publishing regular
annual reports on Croatia's progress, as was done for the former candidate
countries that had become full members earlier this year.
BM_2An increase of between 7 and 10 percent in tourism revenue in 2004
This year's financial results from tourism will, according to government
estimates, be seven to 10 percent higher than in 2004 with 5 percent more
tourist visits and two percent more overnight stays. Although the government
session had as its agenda the analyses of the overall tourist season, it was
only in possession of first quarter revenue results from tourist visits,
which totalled $444.7 million, up 11.8 percent yoy. The Maritime, Tourism,
Transport and Development Minister Bozidar Kalmeta stated that in 2005
expectations are that tourism will yield 5 percent more revenue than in 2004
and two percent more overnight stays, but he stressed that he would be
pleased if this year's results were matched. The government had adopted the
program of preparatory activities for the 2005 tourist season, as well as
the Croatian Products for Croatian Tourism project, which includes the
assessment of the possibility of selling domestic products through tourism
activities.
BM_3Croatia to invest between 350 and 500 million kuna in the construction
of border crossings
In order to construct and equip border crossings in line with EU standards,
Croatia will in the next five to seven years need to invest between 350 and
500 million kuna, while whether this money will be taken out of
pre-accession funds will depend on negotiations with the EU, said speaking
at a government session on Wednesday, Interior Minister Marijan Mlinaric. It
is estimated that some 150 million kuna will be necessary for the
construction of the Bregana, Bajakovo, Macelj and Rupe border crossings in
order for them to match Shengen criteria. The government has also adopted a
decree on standards and conditions that all border crossings must meet,
while the deadline for this task to be completed is Dec. 31, 2007.
BM_4Existing business space tenants to enjoy priority treatment
The government has forwarded into emergency parliament procedure the changes
to the law enabling the privatisation of business space owned by the
Republic of Croatia and legal entities in state ownership. The government is
to draw up a special decree, while by making the changes to the existing
law, the current tenants of business spaces owned by the state or
municipalities, towns and countries whose lease is to expire soon have been
given the right of priority treatment when closing a new deal. The condition
that needs to be fulfilled for the extension of the lease is the taking part
in a public tender and the regular fulfilment of all the provisions of the
expired lease. The proposed changes should help craftsmen that number 1,500
in Zagreb alone, and who had mostly signed the contracts on leasing business
spaces in 1998 that are to expire now, stated members of the government on
Wednesday.
BM_5A retail sale drop in August
The sales volume in retail sale in August, according to the State Statistics
Bureau, was 5.5% down in real terms compared to July, while compared yoy, a
growth in real terms of 3.4% had been recorded. The data for the first eight
months of 2004 claim that retail sales are recording a subtle growth in real
terms of 2.7%, while the nominal increase is 4.5%.
The data further show that a solid growth of sales volume in the sale of
motor oils has been enjoyed, which is mostly the result of the increase in
the price of oil derivatives. The sales volume in the sale of cosmetics and
toiletry has grown more than 50% in the first eight months, while an
increase has been recorded also in the sales of textiles and clothing. Also,
due to an increase in prices, an incraesd volume of sale in the trade of
tobacco products has been noted. A considerable drop has been recorded in
the sale of fruits and vegetables, meat and meat products, fish, shellfish
and crabs, but this could be the impact of an increase in the sale of these
foodstuffs in shopping centres, so that their sale is being recorded in
different categories.
BM_6Match Telecom request rejected
According to an article appearing in Rijeka Novi List daily, the
Telecommunications Agency has rejected the request of Match Telekom that its
offer for the third mobile network in Croatia be considered, the reason for
it not being considered, the offer coming in 10 minutes after the deadline
had passed. The reasons put forth by match Telecom, namely a technical fault
on the plain that caused the delay, a consortium made up of, among others,
French Alcatel and the Croatian INA Oil Company, had not been taken into
consideration.
The Telecommunications Council president Gaspar Gacina said that he had
ordered that the offer sent in by Match Telecom be returned unopened and
announced that he would now focus his attention on the prices of
interconnection among existing operators. Gacina added that it was quite
clear now that the Tele2 consortium would be awarded concession for the
third mobile network in Croatia.
BM_7REGIONAL NEWS
BM_8Serbian government and the IMF reach agreement on the 2004 and 2005
budget deficit
The Serbian government has reached an agreement with the International
Monetary Fund (IMF) regarding the budget deficit for 2004 and the maximum
level of the budget deficit for 2005, stated on Wednesday the Finance
Minister Mladjan Dinkic, reports the Tanjug News Agency.
He announced that the deficit structure for 2005 is yet to be discussed.
Dinkic denied speculations that the IMF mission had demanded that the 2005
budget deficit does not surpass 10 billion dinars. He explained that in line
with the methodology of this international financial institution, the budget
deficit does not include obligations based on the repayment of external
debt.
The budget deficit in the third trimester in Serbia was down nine times yoy.
It totalled about two billion dinars, while the annual budget deficit by the
end of September of 2004 totalled about 19.7 billion dinars.
BM_9Dinkic: Inflation standing at 9.1 percent
Inflation in Serbia in the nine months of 2004 totalled 9.1 percent, of
which three percent represents the impact of the huge increase in the price
of oil on the world market, stated on Wednesday the Serbian Finance Minister
Mladjan Dinkic, reports the Tanjug News Agency. Had there been no surge in
the prices of oil, "inflation in the first nine months of 2004 would have
stood at 6.1 percent," claims Dinkic.
BM_10Hit from Nova Gorica announces public offer for the purchase of Kompas
Hotel shares
In line with the law on company takeover, Hit form Nova Gorica has announced
its intention to purchase shares of the Kompas Hoteli company from Kranjska
Gora. The public offer will be published after it is approved by the
Securities' Agency, announced the Nova Gorica company.
Hit Group situated in Gornjesavska Dolina, has been operating since 1990 and
is building a comprehensive tourism empire that includes Hit Hotel Casino
Kranjska Gora, Hotel Spik in Gozd Martuljak which is part of the linked HTP
Gorenjka company, Grand Hotel Prisank and Hotel Larix, while with the
inclusion of Kompas Hotel into the Group it would also include Hotel Kompas
and Hotel Alpina.
(Courtesy Bankamagazine)
An increase of between 7 and 10 percent in tourism revenue in 2004
Croatia to invest between 350 and 500 million kuna in the construction
of border crossings
Existing business space tenants to enjoy priority treatment
A retail sale drop in August
Match Telecom request rejected
REGIONAL NEWS
Serbian government and the IMF reach agreement on the 2004 and 2005
budget deficit
Dinkic: Inflation standing at 9.1 percent
Hit from Nova Gorica announces public offer for the purchase of Kompas
Hotel shares
BM__1Croatia to receive 245 million euros form the EU in the next two years
The progress in Croatia's negotiations on full EU membership will depend on
the sustainability of political reforms in the country and its fulfilment of
international obligations, reads the document that was made public by the
European Commission on Wednesday.
"The progress in negotiations will completely depend on the sustainability
of political reforms and the fulfilment of obligations that Croatia has
regarding regional cooperation with other countries of former Yugoslavia and
other international obligations like the cooperation with The Hague
Tribunal," stresses the Commission in the pre-accession strategy document
for Croatia.
In the 3-page document, the Commission proposes that the stepped-up
pre-accession strategy drawn up for candidate members, adopted by the
European Council in Luxembourg in 1999, should be extended to Croatia and
also mentions the June decision made by the European Council that the
negotiations on membership begin early next year.
By achieving candidate status, Croatia has been given access to
pre-accession funds of the EU. In the next two years Croatia should, in line
with the Commission proposal, draw a total of 245 million euros from three
programs: PHARE, ISPA and SAPARD. Next year, some 105 million euros will be
at Croatia's disposal (80 million from the PHARE program and 25 million from
ISPA).
In 2006, Croatia will be able to draw 140 million euros (80 through the
PHARE program, 35 million through ISPA and 25 million through SAPARD).
As of autumn of next year the Commission will start publishing regular
annual reports on Croatia's progress, as was done for the former candidate
countries that had become full members earlier this year.
BM_2An increase of between 7 and 10 percent in tourism revenue in 2004
This year's financial results from tourism will, according to government
estimates, be seven to 10 percent higher than in 2004 with 5 percent more
tourist visits and two percent more overnight stays. Although the government
session had as its agenda the analyses of the overall tourist season, it was
only in possession of first quarter revenue results from tourist visits,
which totalled $444.7 million, up 11.8 percent yoy. The Maritime, Tourism,
Transport and Development Minister Bozidar Kalmeta stated that in 2005
expectations are that tourism will yield 5 percent more revenue than in 2004
and two percent more overnight stays, but he stressed that he would be
pleased if this year's results were matched. The government had adopted the
program of preparatory activities for the 2005 tourist season, as well as
the Croatian Products for Croatian Tourism project, which includes the
assessment of the possibility of selling domestic products through tourism
activities.
BM_3Croatia to invest between 350 and 500 million kuna in the construction
of border crossings
In order to construct and equip border crossings in line with EU standards,
Croatia will in the next five to seven years need to invest between 350 and
500 million kuna, while whether this money will be taken out of
pre-accession funds will depend on negotiations with the EU, said speaking
at a government session on Wednesday, Interior Minister Marijan Mlinaric. It
is estimated that some 150 million kuna will be necessary for the
construction of the Bregana, Bajakovo, Macelj and Rupe border crossings in
order for them to match Shengen criteria. The government has also adopted a
decree on standards and conditions that all border crossings must meet,
while the deadline for this task to be completed is Dec. 31, 2007.
BM_4Existing business space tenants to enjoy priority treatment
The government has forwarded into emergency parliament procedure the changes
to the law enabling the privatisation of business space owned by the
Republic of Croatia and legal entities in state ownership. The government is
to draw up a special decree, while by making the changes to the existing
law, the current tenants of business spaces owned by the state or
municipalities, towns and countries whose lease is to expire soon have been
given the right of priority treatment when closing a new deal. The condition
that needs to be fulfilled for the extension of the lease is the taking part
in a public tender and the regular fulfilment of all the provisions of the
expired lease. The proposed changes should help craftsmen that number 1,500
in Zagreb alone, and who had mostly signed the contracts on leasing business
spaces in 1998 that are to expire now, stated members of the government on
Wednesday.
BM_5A retail sale drop in August
The sales volume in retail sale in August, according to the State Statistics
Bureau, was 5.5% down in real terms compared to July, while compared yoy, a
growth in real terms of 3.4% had been recorded. The data for the first eight
months of 2004 claim that retail sales are recording a subtle growth in real
terms of 2.7%, while the nominal increase is 4.5%.
The data further show that a solid growth of sales volume in the sale of
motor oils has been enjoyed, which is mostly the result of the increase in
the price of oil derivatives. The sales volume in the sale of cosmetics and
toiletry has grown more than 50% in the first eight months, while an
increase has been recorded also in the sales of textiles and clothing. Also,
due to an increase in prices, an incraesd volume of sale in the trade of
tobacco products has been noted. A considerable drop has been recorded in
the sale of fruits and vegetables, meat and meat products, fish, shellfish
and crabs, but this could be the impact of an increase in the sale of these
foodstuffs in shopping centres, so that their sale is being recorded in
different categories.
BM_6Match Telecom request rejected
According to an article appearing in Rijeka Novi List daily, the
Telecommunications Agency has rejected the request of Match Telekom that its
offer for the third mobile network in Croatia be considered, the reason for
it not being considered, the offer coming in 10 minutes after the deadline
had passed. The reasons put forth by match Telecom, namely a technical fault
on the plain that caused the delay, a consortium made up of, among others,
French Alcatel and the Croatian INA Oil Company, had not been taken into
consideration.
The Telecommunications Council president Gaspar Gacina said that he had
ordered that the offer sent in by Match Telecom be returned unopened and
announced that he would now focus his attention on the prices of
interconnection among existing operators. Gacina added that it was quite
clear now that the Tele2 consortium would be awarded concession for the
third mobile network in Croatia.
BM_7REGIONAL NEWS
BM_8Serbian government and the IMF reach agreement on the 2004 and 2005
budget deficit
The Serbian government has reached an agreement with the International
Monetary Fund (IMF) regarding the budget deficit for 2004 and the maximum
level of the budget deficit for 2005, stated on Wednesday the Finance
Minister Mladjan Dinkic, reports the Tanjug News Agency.
He announced that the deficit structure for 2005 is yet to be discussed.
Dinkic denied speculations that the IMF mission had demanded that the 2005
budget deficit does not surpass 10 billion dinars. He explained that in line
with the methodology of this international financial institution, the budget
deficit does not include obligations based on the repayment of external
debt.
The budget deficit in the third trimester in Serbia was down nine times yoy.
It totalled about two billion dinars, while the annual budget deficit by the
end of September of 2004 totalled about 19.7 billion dinars.
BM_9Dinkic: Inflation standing at 9.1 percent
Inflation in Serbia in the nine months of 2004 totalled 9.1 percent, of
which three percent represents the impact of the huge increase in the price
of oil on the world market, stated on Wednesday the Serbian Finance Minister
Mladjan Dinkic, reports the Tanjug News Agency. Had there been no surge in
the prices of oil, "inflation in the first nine months of 2004 would have
stood at 6.1 percent," claims Dinkic.
BM_10Hit from Nova Gorica announces public offer for the purchase of Kompas
Hotel shares
In line with the law on company takeover, Hit form Nova Gorica has announced
its intention to purchase shares of the Kompas Hoteli company from Kranjska
Gora. The public offer will be published after it is approved by the
Securities' Agency, announced the Nova Gorica company.
Hit Group situated in Gornjesavska Dolina, has been operating since 1990 and
is building a comprehensive tourism empire that includes Hit Hotel Casino
Kranjska Gora, Hotel Spik in Gozd Martuljak which is part of the linked HTP
Gorenjka company, Grand Hotel Prisank and Hotel Larix, while with the
inclusion of Kompas Hotel into the Group it would also include Hotel Kompas
and Hotel Alpina.
(Courtesy Bankamagazine)