Executive director of the Luka Kotor AD company Marko Radulovic has decided to lower the salaries of all port workers by 20% over the next year. Executive director of the Luka Kotor AD company Marko Radulovic has decided to lower the salaries of all port workers by 20% over the next year. Radulovic also said in a proposed decision for lowering employees’ salaries that, additionally, over the next year, all shift bonuses would be cancelled as well as a fee for employees working in commissions and working bodies, B92 has reported. The proposal was forwarded to the port’s union for its opinion. The company has around 70 employees.
Croatia and Bulgaria have been admitted to the European Exchange Rate Mechanism (ERM-2), which is the preliminary phase for adopting the euro as currency in the next three years, the European Central Bank has said in a press release. Croatia and Bulgaria have been admitted to the European Exchange Rate Mechanism (ERM-2), which is the preliminary phase for adopting the euro as currency in the next three years, the European Central Bank has said in a press release. Analysts say that this opens the way to the first euro zone expansion since 2015, when Lithuania joined the monetary union, N1 TV’s website reports. When countries enter the Mechanism, they stay in it for about two years before they start making practical preparations for accessing the euro zone, and that is a process that takes about a year, which is why the new members will be admitted in 2023 at the earliest.
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The procedure for establishing a joint venture company between Republika Srpska and Serbia for the construction of hydroelectric power plants on the Drina river has already taken a year,The procedure for establishing a joint venture company between Republika Srpska and Serbia for the construction of hydroelectric power plants on the Drina river has already taken a year, RS Premier Radovan Viskovic was quoted as saying by B92. “Fifteen days ago, a contract on creating a joint venture company by the RS Elektroprivreda and Serbian Elektroprivreda companies was signed. The contract was handed to the Bosnian Competition Council for approval. We do not expect a single problem regarding this, except, maybe, political,” Viskovic told RS TV. He stressed that all of the necessary procedures had been observed in creating the company and that politics had no place in questions of development and the survival of the people. Viskovic also said he hoped that the Competition Council would give an affirmative opinion, after which the joint venture company will be registered and that the state of Serbia will hold a 51% stake in the company and RS a 49% stake. The joint venture company was created for the purpose of building three hydroelectric power plants – Foca (44.15 MW), Paunci (43.21 MW) and Buk-Bijela (93.52 MW). The combined power of these plants is 180 MW.
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In 2019 foreigners purchased real estate in Montenegro worth EUR169.99m. In 2019 foreigners purchased real estate in Montenegro worth EUR169.99m. That was 12.6m less than the year before, with Russians, Serbs and Turks as the leading buyers, Central Bank data have shown. Russian Federation nationals in 2019 traded real estate worth close to EUR39m, level with the year before, followed by Serbian nationals who last year spent EUR16.6m on real estate – 2.1m more than in 2018, pushing the Turks out of second place, who last year traded real estate worth 12.7m, the Podgorica portal CdM reports. Among the biggest real estate buyers, who traded real estate worth upwards of EUR10m are citizens of NATO member states – Americans with EUR10.7m and Germans with 10m. Also among the major real estate buyers in Montenegro are Swiss nationals, but the information on their real estate trade has been declared classified. Last year Kosovo citizens emerged as notable real estate buyers in Montenegro, given that they traded real estate worth EUR4.39m.
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