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Aug 20, 2014

Zloty stable before industrial output data

BELGRADE (Reuters) – The zloty was stable on Wednesday before a release of Polish industrial output data that should provide a clearer picture of the region’s biggest economy and the chances Poland’s central bank will cut interest rates.

Conflict between neighbouring Ukraine and Russia has slowed economic recovery in Central Europe, contributing to expectations the Polish central bank will resume rate cuts, which appeared to have ended last year.

Aug 19, 2014

Serbia picks commerce chief to run economy ministry

BELGRADE, Aug 19 (Reuters) – The head of Serbia’s Chamber of
Commerce was nominated on Tuesday to take on the restructuring
and selling of hundreds of state enterprises as economy minister
in a government under pressure to rein in borrowing.

Prime Minister Aleksandar Vucic said Zeljko Sertic, a member
of his own Serbian Progressive Party (SNS), would take on the
post pending parliamentary endorsement.

Aug 19, 2014

Serbian commerce chief set to take over economy ministry

BELGRADE, Aug 19 (Reuters) – The head of Serbia’s Chamber of
Commerce looked set on Tuesday to take on the restructuring and
selling of hundreds of state enterprises as economy minister in
a government under pressure to rein in borrowing.

Prime Minister Aleksandar Vucic would nominate Zeljko
Sertic, a member of Vucic’s Serbian Progressive Party (SNS), to
the post on Tuesday, national radio station Radio B92 said.

Aug 12, 2014

Serbia to investigate privatisation of state oil firm NIS

BELGRADE, Aug 12 (Reuters) – Serbia is to launch an
investigation into the 2008 privatisation of state oil company
NIS, now majority-owned by Russia’s Gazprom Neft
, the country’s interior ministry said.

Gazprom Neft, which bought a 51 percent stake in the NIS
monopoly for 400 million euros ($534 million) in 2008, said it
was surprised that the Serbian authorities would bring “our
fruitful work into question”.

Aug 12, 2014

Serbian police to probe privatisation of state oil firm NIS

BELGRADE, Aug 12 (Reuters) – Serbian police are to
investigate the 2008 privatisation of state oil company NIS
, now majority-owned by Russia’s Gazprom Neft
, the interior ministry said.

Gazprom Neft bought a 51 percent stake in the NIS monopoly
for 400 million euros ($534 million) in 2008, under a Serbian
government led by the current opposition Democratic Party.

Jul 18, 2014

Serbia reforms labour, pension laws as part of promised overhaul

BELGRADE, July 18 (Reuters) – The Serbian Parliament adopted
the first in a raft of reforms intended to cut spending and
attract investors, with measures that liberalise the labour
market and raise the retirement age for women.

The government is now expected to move quickly to push
through legislation on bankruptcy and privatisation. That will
provide a basis for restructuring dozens of loss-making
state-run companies.

Jun 27, 2014

Serbia relies on Gulf cash for Belgrade waterfront development

BELGRADE, June 27 (Reuters) – Serbia unveiled plans on
Friday to redevelop the Belgrade waterfront, aiming to make the
capital a tourism and business hub, in a controversial 3 billion
euro scheme that will be funded by Gulf Arab cash.

The Belgrade Waterfront project promises office and luxury
apartment blocks, eight hotels, a shopping mall and a tower
resembling Dubai’s landmark Burj Khalifa, albeit a quarter of
the size at 200 metres, on the right bank of the Sava River.

Jun 18, 2014

Zloty stable, focus on political fallout after tape leak

BELGRADE, June 17 (Reuters) – The Polish zloty
held firm on Wednesday even though industrial output data for
May fell short of forecasts and leaked remarks by the central
bank governor continued to worry markets.

Data published on Wednesday showed May industrial output in
the region’s largest economy rose 4.4 percent year-on-year, less
than the 6.3 percent forecast in a Reuters poll. The data did
not move the zloty.

Jun 10, 2014

Zloty around 14-month high, Slovenian yields at 8-year lows

BELGRADE, June 10 (Reuters) – The Polish zloty held at
around 14-month highs against the euro on Tuesday amid
expectations that recent monetary easing by the European Central
Bank will boost investors’ appetite for Europe’s emerging market
currencies.

With Polish interest rates likely to stay on hold for the
time being, investors sought to profit on diverging interest
rate paths in Poland and the euro zone, pushing the zloty up.

Jun 5, 2014

Serbia says has no plan to delay South Stream construction

BELGRADE, June 5 (Reuters) – Serbia said on Thursday it had
no plans to delay the start of construction of its leg of
Gazprom’s South Stream gas pipeline, scheduled for
July, after the European Union this week asked Bulgaria to
suspend work on the project.

The European Commission, the EU’s executive arm, says South
Stream breaks EU competition rules that prohibit gas suppliers
from also controlling pipeline access, and it has put on hold
the approval process for the project.