MONTENEGRO ECONOMY NEWS
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Tuesday, 08. September 2009.source: Daily Press - Vijesti
Croatian consortium has fulfilled conditions for starting the new project. Yesterday the Council for the construction of the highway concluded that Croats have provided all requested guarantees and in the following days they will examine the enclosed documentation with the adviser.
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Tuesday, 08. September 2009.source: Daily Press - Vijesti
The co-owner of Aman arrived in Budva: New investors, the “Restis Group”, agreed to take over the entire project under the condition that Singapore-based company were the managers of the project. Adrian Zecha, the owner of the “Amanresorts”, promised to open Sveti Stefan last summer. However, he failed to keep his word, except for “the new-old” Miločer, which was opened under the name Villa “Miločer”, four months behind the schedule. The “Restis Group“threw open to the public that the reconstruction works on Sveti Stefan would start by mid-September.
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Saturday, 29. August 2009.source: Daily Press - Vijesti
Businessmen who carried business with “Montera” are not satisfied: The representatives of the firms which were engaged at Zavala as the subcontractors claim that company “Montera” from Belgrade have not pay them anything since May. They have confirmed to “Vijesti” that workers went to construction sites without fees and that they were told that they would receive the outstanding earnings at their home addresses. It has been announced from “Montera” that construction works will be continued on 15th September, which is the violation of the valid local regulation, since the prohibition of construction works to which they refer, and which they have not observed, lasts until 1st October.
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Thursday, 27. August 2009.source: Daily Press - Vijesti
The representatives of Bosnia and Herzegovina and the Mayer of Herceg Novi had a meeting yesterday. The member of the BiH presidency says that the Electric Power Industry of Republic of Srpska is willing to help Herceg Novi and Montenegro in better hydro energetic use of the lake of Bileća. Also, both countries are interested in the construction of the railroad Nikšić-Trebinje, which is a long-term project.
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Wednesday, 26. August 2009.source: Daily Press - Vijesti
Collection of utility charges in the municipality of Budva has sharply decreased; Kuljača is optimistic: - So far, the municipality of Budva collected only €14.5 million from utility charges- the Mayor of Budva announced. He said that a certain number of planned investments on Budva Riviera have to be stopped due to the impact of the world economic crisis. Still, none of the major investors gave up their projects-they await better times. He believes that «Mirax Balkan» will finish the project«Astra Montenegro».
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Tuesday, 25. August 2009.source: Daily Press - Vijesti
Due to debts to the contractor or sudden decision to obey law, the construction site of “Mirax” desolated: More than 200 employees of Belgrade-based company “Montera”, hired by the Russian company “Mirax Group” on construction works of housing project “Astra Montenegro” went home since they have not been paid few salaries. The Project Manager of “Mirax Group” denied the information that „Mirax Group“went bankrupt , stating that the whole interview with the owner of this company, Sergei Polonsky, was misquoted. “. Allegedly, the Russians managed to sell 60% of villas which provided enough funds for further works. However, they still owe money to contractors.
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Sunday, 23. August 2009.source: Visit Montenegro
Several chief executive officers of well-known world shipyards visited Montenegro in order to find out what are the prospects of this tourism metropolis for further nautical development. According to their opinion Budva is the only city in Montenegro with prospects for fast development. The gathering of the yachting elite in Budva was initiated by Lamberto Tacolli, the president of CRN and co-owner of the entire Ferretti Group and one of the most influential people in nautical world today, who was staying in Budva last year.
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Saturday, 22. August 2009.source: Daily Press - Vijesti
Yesterday, according to the Associated Press (AP), a Russian billionaire has announced crash of the „Mirax Group“: Sergei Polonsky, a Russian construction tycoon, who once said that in Russia anyone who does not succeed to become a millionaire is a loser, has announced yesterday that his once gigantic company went bankrupt. The company„Zavala Invest“ was a partner with „Mirax“ in the „Astra Montenegro“ project on construction of luxury flats. Svetozar Marovic, the present Deputy Prime Minister was a co-owner of „Zavala Invest“. „Mirax“ accepted to stop construction works, while Marovic accepted EUR 1 million as a condition to leave the whole project.
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Friday, 21. August 2009.source: Daily Press - Vijesti
In the Ministry of Tourism and in National Tourism Organization satisfied: It is announced yesterday from the Ministry of Tourism that there are between 380.000 and 400.000 of registered visitors in Montenegro and by the end of August the millionth visitor in this year will be registered.” There are more visitors this year than in the same period in previous years. The season develops in accordance with our expectations. Water supplying was regular this summer in all tourism municipalities, and we expect the completion of works on regional water supply system. No more praying for rain since there will be enough water”- Predrag Nenezic, the Minister of Tourism, said.
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Monday, 17. August 2009.source: Daily Press - Vijesti
The manager of the Israeli real estate agency predicts that the Montenegrin real estate market will recover, stating that the demand in Petrovac and Becici has increased. American weekly magazine BusinessWeek has been writing about potentials of the Montenegrin market. According to this magazine Montenegro and Croatia are the “hot markets” which will be the first to attract investors.