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International Information Centre for Balkan Studies



Turkey plans to drill deep water oil well in Black Sea in 2018: Minister

Turkey plans to drill a deep water oil well in the western part of the Black Sea in 2018, Energy Minister Berat Albayrak said Nov. 8, 2016, adding that the country was also planning to bring the Akkuyu nuclear power plant online by 2023. 

Read more: Turkey plans to drill deep water oil well in Black Sea in 2018: Minister

Eurozone says more debt relief for Greece ‘impossible’ for now

Eurogroup head Jeroen Dijsselbloem and German Finance Minister Wolfgang Schäuble, in a move likely to anger Athens and the IMF, warned yesterday (7 November 2016) it would be impossible to draw up fresh debt relief for Greece by year’s end.

Read more: Eurozone says more debt relief for Greece ‘impossible’ for now

Bosnian Serb Leader Hunts for Cash in China

Milorad Dodik, president of Bosnia's Serb-dominated entity, Republika Srpska, is in China, seeking investment for the entity’s struggling economy.

Read more: Bosnian Serb Leader Hunts for Cash in China

Total makes oil discovery offshore Bulgaria

French oil company Total has made an oil discovery in the Khan Asparuh license, located in the Black Sea offshore Bulgaria.

Read more: Total makes oil discovery offshore Bulgaria

Serbia, Bosnia Open Joint Trade Office in Turkey

Bosnia and Serbia have opened a joint office in Istanbul, Turkey, hoping to stimulate trade between the three countries and Turkish investment.

Read more: Serbia, Bosnia Open Joint Trade Office in Turkey

Russia’s Rosatom agrees to drop Belene daily penalties – Bulgarian minister

Bulgarian Energy Minister Temenouzhka Petkova said on October 26, 2016 that state-owned electric utility NEK has signed an agreement with Atomstroyexport, a division of Russia’s nuclear corporation Rosatom, to settle damages owed by NEK for the cancellation of the Belene nuclear power plant.

Read more: Russia’s Rosatom agrees to drop Belene daily penalties – Bulgarian minister

EuroWorkingGroup gives green light for release of 2.8 billion Euro tranche to Greece

The EuroWorking Group (EWG) has given the go-ahead for the disbursement of the 2.8 billion euro tranche, according to eurozone sources.

Read more: EuroWorkingGroup gives green light for release of 2.8 billion Euro tranche to Greece

Greece Ranks as Fourth Largest Investor in Bulgaria

According to information released in a report by the Greek embassy’s economic trade and affairs bureau, Greece is ranked as the fourth largest foreign investor in Bulgaria.

Read more: Greece Ranks as Fourth Largest Investor in Bulgaria

Turkey, Kosovo set for free-trade deal

Turkish companies’ interest in Kosovo will increase with an imminent free-trade agreement, Economy Minister Nihat Zeybekci said Oct. 18, 2016.

Speaking at the Turkey-Kosovo Business and Investment Forum hosted by the Foreign Economic Relations Board (DEİK) in Istanbul, Zeybekci said Kosovo had great importance for Turkey.      

Read more: Turkey, Kosovo set for free-trade deal

Turkey plans doubling of coal-fired power capacity by 2020

The Turkish government is planning to double its coal power capacity over the next four years, making it the country with the world’s third largest investment in the fossil fuel.

Read more: Turkey plans doubling of coal-fired power capacity by 2020

Moody's: Bulgaria's strong fiscal position and resilient economy underpin Baa2 rating

Frankfurt am Main, October 14, 2016 -- Bulgaria's strong fiscal position, resilient economy and broad reform agenda support the country's Baa2 rating and stable outlook, Moody's Investors Service said in an annual report published today.

Read more: Moody's: Bulgaria's strong fiscal position and resilient economy underpin Baa2 rating

Moody's affirms Greece's government bond rating at Caa3; outlook stable

London, 14 October 2016 -- Moody's Investors Service has today affirmed Greece's government bond rating at Caa3. The outlook on the ratings is stable. The short-term rating was affirmed at Not Prime (NP). Moody's government bond rating applies to debt issued on private sector terms only.

Read more: Moody's affirms Greece's government bond rating at Caa3; outlook stable

Fitch: Croatia Coalition Deal Eases Near-Term Political Risks

Fitch Ratings-London-11 October 2016: The agreement by Croatia's Croatian Democratic Union (HDZ) and the smaller Most party to form a coalition government reduces near-term uncertainty and suggests that attempts to reform the economy and reduce debt will continue, Fitch Ratings says. But recent history suggests political risks to policy implementation will persist.

Read more: Fitch: Croatia Coalition Deal Eases Near-Term Political Risks

Turkey’s current account deficit widens

Turkey’s current account deficit has widened, standing at $1.78 billion in August, up almost by $2 billion year-on-year, due to a decline in income from tourism and imports, the Central Bank said in a report on Oct. 12, 2106.

The 12-month rolling deficit rose to $31.02 billion, up from $29 billion in July, according to the report.  

Read more: Turkey’s current account deficit widens

Greece: Bailout subtranche delayed

The Greek delegation to the Eurogroup in Luxembourg was taken somewhat aback Monday after eurozone officials approved the disbursement of 1.1 billion euros instead of the full amount of 2.8 billion in loans Athens was banking on. 

Read more: Greece: Bailout subtranche delayed

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