Slovenia's NLB Gets 405 Mln Euro Syndicated Loan
Slovenia's biggest lender Nova Ljubljanska Banka (NLB) has borrowed a 405 million euro syndicated loan from a consortium of 19 foreign banks.
The bank will use the loan to fund NLB group operations and for refinancing purposes.
NLB said earlier this month that it had signed a contract to draw a syndicated loan of at least 310 million euro from a consortium of 15 foreign banks. However, four more banks joined the consortium and the final amount of the loan rose to 405 million euro.
The Slovenian government owned directly 33.1% in NLB and Belgian banking group KBC held a 30.57% stake in the bank at the end of 2008. Source: ADPnews – 22 June 2009
Last Updated on Wednesday, 06 January 2010 16:53
Serbia earns EUR 3bn on privatization
Serbian budget revenued RSD 58.3bn or EUR 750mn from privatisation procedures in the last four years, Serbian Treasury Department informed, along with EUR 2.2bn collected before than period. However, only two days later, the public was informed that RSD 247.5 bn was earned from privatisation over the last eight years. Serbian Privatisation Agency deposited RSD 112.5bn by the end of 2008, which does not include money earned by selling banks and companies which filed for bankruptcy. Source: SEEbiz / Blic – 24 March 2009
Budget deficit reaches JD348 million during first five months of this year
The budget deficit reached JD348 million during the first five months of this year compared to a JD97 million deficit during the same period of last year. Finance Secretary General Ezeddin Kanakriyeh attributed the deficit to the 17 per cent increase in public spending and to weak growth in domestic revenues, which registered a slight increase of 4.5 per cent. He indicated that foreign assistance and domestic revenues stood at JD1.9 billion, while spending reached JD2.3 billion. External debt from January to May of this year dropped by JD87 million compared to the same period of last year, while internal debt increased by JD309 million, he added.
Source: jordantimes – 22 June 2009
Last Updated on Monday, 22 June 2009 14:21
IFC to invest $150 mln regionally over five years
As organizations like the World Bank and International Monetary Fund take center stage in third world development efforts, the International Finance Corporation (IFC) has managed to maintain a lower profile while undertaking wide ranging projects across the region.
Unlike the World Bank, which focuses on providing loans to governments to facilitate development and reform, its private sector arm, the IFC, focuses on providing advising and investment to regional enterprises to promote private sector development and growth.
“We’ve committed $60 million and are working with donors to reach $150 million for investment in the region over the next five years,” Jesper Kjaer, IFC’s general manager of advisory services for the MENA region, told Daily News Egypt.
“We expect our investment capital to reach $1.5 billion and are looking forward to more success,” he added.
Last Updated on Monday, 22 June 2009 10:40
Read more...
|
UAE ranks 4th in global retail investment,study
The UAE has risen 16 places to fourth position in retail investment attractiveness, says global management consulting firm A T Kearney’s eighth annual Global Retail Development Index (GRDI).
UAE’s oil-driven economy proved more resistant to widespread downturn than other countries, said the GRDI, a study retail investment attractiveness of among 30 emerging markets.
While the UAE’s population of five million is relatively small compared to the three countries above it in the GRDI, it has the highest per capita consumer spending of any country in the index.
In fact, Dubai is on track to have the world’s largest amount of shopping space per capita by 2010. Retailers in Dubai are focusing on local customers as tourism drops and that is creating entry opportunities for hypermarkets and discounters. The retail industry will become more customer-focused, improving products, prices and service.
Yet while Dubai has a well-established retail scene, Abu Dhabi is the rising star of the Emirates according to the study. It has remained well insulated from the global economic crisis because of its oil reserves and sovereign wealth fund.
Several new museums and a Formula One race are planned and will help it attract tourists. Immigration is also expected to pick up as Abu Dubai becomes a nearby alternative to Dubai.
New city developments will increase real estate supply and strong awareness of global brands among the population will provide opportunities for local and foreign retailers. Source: Gulf Base – 21 June 2009
Erste Bank May Delay Romania's BCR Bank Listing to 2010-2011
Austria's Erste Bank may postpone listing its Romanian unit, Banca Comerciala Romana (BCR), until 2010-2011.
Erste wrapped up in October 2006 a 3.75 billion euro ($5.5 million) acquisition of a 61.9% stake in BCR from the Romanian government, the European Bank for Reconstruction and Development and the International Finance Corporation. Under the sale contract, Erste Bank has to list BCR on the Bucharest Stock Exchange, BVB, within three years after the completion of the deal.
Erste Bank has asked Romania's privatization agency AVAS for its opinion regarding a delay in listing, AVAS head Mircea Ursache said. He added that he agreed with the proposal, having in mind the current market conditions.
Erste Bank raised its stake in BCR, Romania's largest bank by assets, to 69.11% in December 2006.
Erste Bank shares were the first foreign stock listed on the BVB. They started trading in February 2008.
Source: Mediafax – 25 June 2009
FYROM’s Capital Skopje Says Tram System Tender Fails on Lack of Interest
A tender for the deployment of a tram system in FYROM’s capital of Skopje has failed due to lack of interest, the municipal authorities said on Tuesday. A total of 17 European companies had bought tender documents but none of them went on to submit a bid, the Skopje municipality said in a statement posted on its website. The tender for the construction of a tram depot and a 12-kilometre tram rail route in Skopje, as well as for the procurement of five tram vehicles as part of the first stage of the project, was called on February 3. The city of Skopje has already drafted a feasibility study for a tram network and has provided 430 million denars (6.71 million euro) for the implementation of the first stage of the project, the statement added. Source: SeeNews – 24 March 2009
Germany's KfW Backs Wind Farm Project in Croatia with 10.1 Mln Euro
Germany's KfW IPEX-Bank GmbH is supporting the construction of the Orlice wind farm, near the Croatian town of Sibenik, with 10.1 million euro.
The project for the power generation facility, scheduled to be commissioned this summer, has a total investment value of around 12.7 million euro, the bank said.
The wind farm, which has a total capacity of 9.6 megawatts, is the third one in Croatia. It comprises a total of eleven wind turbines that will be supplied, installed and commissioned by Germany's Enercon GmbH, the statement said.
Enercon will also perform the long-term operation and maintenance of the plant. The project was initiated by wpd AG of Bremen, one of Europe's major wind farm developers and operators, which has already realised a similar project several kilometres away, it added.
The output of the wind farm will be sufficient to supply a town of around 20,000 inhabitants on a sustainable basis.
The town of Sibenik is located around 60 kilometres northwest of Croatia's second largest city of Split, on the Adriatic coast.
Worldwide, KfW IPEX-Bank GmbH conducts all market activities of Germany's KfW Bankengruppe that are carried out on commercial terms.
Source: SeeNews – 26 June 2009
|
