Business: Athens hosts aviation expo

20/06/2008

The first international business and general aviation exposition in Southeast Europe took place in Athens. Also in the news: Macedonia became a member of the International Association of Economic and Social Councils, and Bulgaria enjoyed an increase in economic growth in the first quarter of 2008.

[ICARUS.ba]

Athens hosted the 2008 ICARUS Aero Expo, the first international business and general aviation exhibition in Southeastern Europe, last week. The fair featured the latest innovations in the aircraft industry, as well as military jet flights. It also included seminars.

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Macedonia became a member of the International Association of Economic and Social Councils on June 13th in Rome. The Macedonian delegation, led by Minister of Labour and Social Policy Ljupco Meskov, attended a meeting of the association.

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The economic growth rate in Bulgaria reached 7% in the first quarter of 2008, the National Statistical Institute announced on Monday (June 16th). The rate exceeded the revised 5.5% of the same period a year ago. Analysts forecast excellent economic results for the rest of the year.

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The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) are granting a 40m-euro loan for upgrade and rehabilitation of the docks in Durres, Albania. The EBRD will provide 14m euros, while the rest will come from the EIB.

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Steel giant Arcelor Mittal has acquired an additional 11.3% in Turkey's biggest steelmaker, Erdemir, increasing its stake in the company to 24.9%. Arcelor paid $870m for the stake, which investment funds, including Societe Generale, NextGen Capital and Credit Suisse, sold.

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The Croatian engineering company Koncar will develop a new type of train for the Bosnia and Herzegovina (BiH) railways. Koncar will receive 5.3m euros to produce the low-floor electric train and deliver it in a year. It will run on BiH's local passenger routes.

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Mobile telecommunication prices in Albania are three times higher than in other European countries, according to a World Bank report, which calls for lower prices. Improving the telecom infrastructure will help regional integration, said the Bank. It added that this sector, with energy, is the most important for Albania's economy.

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The World Bank Board of Directors approved Thursday (June 19th) the allocation of funds to help Albania mitigate loss of life and property in emergency situations. The International Agency for Development will supply 4m euros, and the International Bank for Reconstruction and Development will extend 1.9m euros for the first phase of the project over the next three months.

(Various sources – 13/06/08-20/06/08)