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MONTENEGRO ECONOMY NEWS
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Tuesday, 16. June 2009.source: Daily Press - Vijesti
Bidding process for selling 54 percent stake in the Bar-based company, the Russians “open-handed”: Russian consortium offered EUR 420.000 for majority block of shares in the Marina Bar and EUR 10.7 million worth investment programme, while Montenegrin joined companies offered half as much money for investments and EUR 350.000 for 54.3 percent ownership stake, it is said in the Tender Commission for Daily “Vijesti”.
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Monday, 15. June 2009.source: Daily Press - Vijesti
“Vodacom” chose a consultant: “Sachsen Wasser” became a partner to “Vodacom “and local public companies during the implementation of Phase III and Phase IV of the project of improvement of water supply and wastewater disposal on the Montenegrin Coast. The primary task of the consultant is to contribute to more effective business activity of public companies in Tivat, Kotor, Herceg Novi and Bar.
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Saturday, 13. June 2009.source: Daily Press - Vijesti
In spite of the crisis the Mayor of Tivat satisfied with the situation in the city: ‘Though the revenues collected from tax on selling property and utility charges were sharply cut down due to the economic crisis and legislation changes, we managed to maintain the stability of the budget and to fulfill obligations towards budget users and business associates in the worst financial times. Realization rate of the annual budget is 36% at the moment’ – the Mayor of Tivat, Dragan Kankaras said
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Friday, 12. June 2009.source: Daily Press - Vijesti
Russian railways announced direct train service linking Moscow and Bar: The new direct rail link from Moscow to Bar will be operational from 16th June until 18th September. This train journey will take nearly 60 hours and cost EUR 155.2 for single ticket and EUR 310.4 for return ticket
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Thursday, 11. June 2009.source: Daily Press - Vijesti
Montenegro presents its potential for foreign investments at Real Estate Fair Exhibition 2009 in Milan: Italian investors are willing to invest in infrastructure projects, transportation sector, processing industry, tourism, water and sewage treatment and recycling. ‘I expect many positive outcomes, such as implementation of several projects to take place in the near future. Everything takes time and patience, and it is my sincere hope that we will soon have some tangible results’ - Montenegrin Ambassador to Italy noted.
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Wednesday, 10. June 2009.source: Daily Press - Vijesti
After “Vijesti” published an article highlighting the false information on the tender for “Ulcinjska Rivijera”, corrections were announced straightaway: ‘Information on the structure and ownership, as well as nominal value of registered capital and share nominal value were taken from the statement of account from CDA obtained on the date when the decision to sell shares by means of public tender was made’
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Tuesday, 09. June 2009.source: Daily Press - Vijesti
Three bids for Bar-based company; one of them apparently inappropriate: Russian consortium, Montenegrin consortium and the company “Kaca” submitted their bids for taking over the majority stake in the Marina Bar with the concession period of 30 years. Privatization of this company was on hold due to unresolved issues on property rights between the municipality of Bar, the Port of Bar and the shipping company “Prekookeanska Plovidba”.
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Tuesday, 09. June 2009.source: Daily Press - Vijesti
A scandalous invitation to investors for privatization of HTP ‘Ulcinjska Rivijera’: Agency of Montenegro for Economic Restructuring and Foreign Investments and the Raiffeisen Investment, privatization advisor to the Government, called yesterday public tenders for selling 60.73 percent stake in HTP “Ulcinjska Rivijera”. But the information contained in this invitation to tender regarding the amount of public capital that needs to be privatized as well as share nominal value was false.
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Thursday, 04. June 2009.source: Daily Press - Vijesti
Tourism Organization of Budva adopted financial plan: During the conference of General Assembly of TO Budva, the report on implementation of the agenda and the final balance sheet for 2008, as well as the financial plan for 2009 were adopted.
The European Dance Federation (EDF) decided to hold European Championship in Modern Dance in Budva this year, and the event will take place on 6th and 7th June within the first “Budva – Europe Dance Festival”. -
Saturday, 30. May 2009.source: Daily Press - Vijesti
Citizens of Tivat blame the Government for the environmental crime in Krasici and there’s no end to it: Tivat-based company “Mix 2006”Ltd. which was identified by “Coastal Zone Management” as a contractor of controversial construction works in Krasici is represented by the Executive Director Cedomir Radovic from Bar. The only founder of that company is the Russian citizen Igor Kulesov from Moscow.