Ivana's Feed
Feb 24, 2015

Serb central bank orders relief for holders of Swiss franc loans

BELGRADE, Feb 24 (Reuters) – Serbia’s central bank ruled on
Tuesday that commercial banks must offer more favourable terms
to holders of loans denominated in Swiss francs, including
possible conversion, lower interest rates or lower monthly
repayment rates.

Some 22,000 holders of Swiss franc-indexed loans in Serbia
have seen their monthly payments soar since the Swiss National
Bank in January suddenly scrapped its cap on the value of the

Feb 17, 2015

Sale of Serbian steel plant to U.S. firm Esmark collapses

BELGRADE (Reuters) – The sale of Serbia’s sole steel mill to U.S. firm Esmark collapsed on Tuesday, in a blow to government efforts to rein in spending under the terms of a loan deal with the International Monetary Fund (IMF).

Prime Minister Aleksandar Vucic said his government was unable to agree to the sale and that the loss-making Zelezara Smederevo plant would remain in state hands.

Jan 9, 2015

Esmark makes only valid bid for Serbian steel mill

BELGRADE, Jan 9 (Reuters) – U.S.-based flat-rolled steel
processor and distributor Esmark is set to take over Serbia’s
loss-making Zelezara Smederevo steel mill after submitting the
only valid bid, the commission in charge of the privatisation
said on Friday.

The bid by Esmark Europe, part of Esmark Inc, was the only
one of three bids to meet all conditions set by the tender, said
Bojan Bojkovic, the head of the commission.

Dec 17, 2014

Balkan railway part of Chinese ‘express lane’ to Europe

BELGRADE, Dec 17 (Reuters) – Serbia said on Wednesday it
expected Chinese construction of a new rail link between
Belgrade and Budapest to begin by mid-2015, part of Beijing’s
strategy to accelerate the flow of goods into Europe through the

China, Serbia and Hungary signed a memorandum of
understanding on the 370-km (230 mile) rail route on the second
day of a summit in Belgrade between China and 16 central and
eastern European states.

Dec 16, 2014

China looks to up investment in central, eastern Europe

BELGRADE, Dec 16 (Reuters) – China said on Tuesday it would
create a new investment fund of $3 billion (2.4 billion euros)
targeting central and eastern Europe, seeking to strengthen its
foothold in the region as a door to the wider European Union.

China sees central and eastern Europe as a potentially
lucrative market and bridgehead to the wider EU, drawn by
relatively low wages, educated workforces and scope for
development on the fringes of the bloc.

Dec 16, 2014

China sees new $3 billion investment fund for central and eastern Europe

BELGRADE (Reuters) – China said on Tuesday it would create a new investment fund of $3 billion (1.91 billion pounds) targeting central and eastern Europe, seeking to strengthen its foothold in the region as a door to the wider European Union.

The pledge comes on top of $10 billion earmarked in 2012 for investment projects in a region comprising some of the EU’s newest members and others in the Western Balkans that are not yet part of the bloc but trying to get there.

Dec 15, 2014

Cash-strapped Balkans seeks Chinese funds for infrastructure projects

BELGRADE (Reuters) – China is preparing a fresh investment push into central and eastern Europe, promising more than $10 billion in loans for energy and infrastructure projects to be discussed in Belgrade this week.

China is seeking a new foothold on the continent, outside the European Union, under a strategy adopted in 2012.

Dec 5, 2014

Serbia invites bids for majority stake in loss-making steel mill

BELGRADE, Dec 5 (Reuters) – Serbia is inviting bids for an
80-percent stake in a loss-making steel mill, aiming to ease
pressure on the country’s finances.

The steel mill in the central Serbian town of Smederevo is
one of the largest beneficiaries of government subsidies,
absorbing as much as $120 million of taxpayers’ money a year.

Nov 20, 2014

Serbia clinches one billion euro loan deal with IMF

BELGRADE (Reuters) – Serbia agreed a three-year precautionary loan deal with the International Monetary Fund on Thursday worth around 1 billion euros (0.79 billion pounds), ending months of uncertainty that had weighed on the dinar currency.

The government hopes the deal will reassure markets concerned over the Balkan country’s budget deficit and public debt, which have spiralled since the onset of the global crisis six years ago.

Nov 15, 2014

Serbian nationalist, released from war crimes court, rallies thousands

BELGRADE (Reuters) – A Serbian nationalist leader rallied thousands of supporters on Saturday in scenes that threaten to embarrass a U.N. war crimes court that released him on grounds of ill-health before reaching a verdict in his trial.

Vojislav Seselj’s barn-storming return to Serbia has angered victims of the hardline nationalism he propagated during Yugoslavia’s bloody breakup in the 1990s.