7/22/2019 BH-Business Daily 1964

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The aim of the presentation is to familiarize

the bank customers, small and medium

enterprises, with the German market and

the opportunities it offers, reads the state-

ment.

As pointed out by Alexander Maerdian,

responsible for promotion of bilateral rela-

tions in the office of the German Chamber of

Commerce in BiH, BiH companies' entry to

German market has many positive aspects,

such as increasing sales potential, diversifi-

cation of risk, reduction of costs by increas-

ing production volume, and work experi-

ence abroad, which can be applied to our

market.

German Chamber of Commerce supportscreation of bilateral economic relations and

provides German and BiH companies help

in making new business relationships and

cooperation through holding regular techni-

cal seminars, favorable conditions for the

visit and participation in trade fairs in

Germany, and maintaining a database of

small and medium-sized German and BiH

companies, which encourages and supports

cooperation.

"ProCredit Bank established a business net-work in 2011, which at its regular gatherings

in cities across BiH allows each networking

entrepreneur, discusses current topics and

responds to issues faced by entrepreneurs.

Practical advices are offered by specialists

in this field. Our goal is to enable customers

to hear useful and relevant topics for theirbusiness," said Maja Mehmedovic,

Executive Director of ProCredit Bank.

ProCredit Bank Business Network on "BiH com-

panies entry to German market" will be held in

Banja Luka, Bijeljina, Zenica, Zepce, Travnik

and Mostar, by the end of the year. A.Z.

Daily e-newspaper N 1964 Sarajevo, October 8, 2013

Vice President of the RS Enes Suljkanovic

attended yesterday in Doboj the signing of

the Memorandum of continuing cooperation

regarding the application of the project "Use

of renewable geothermal energy in the town

of Doboj," worth about 2,000,000 KM.

Memorandum in the field of alternative

energy sources has been signed by the

Local Action Group of Doboj region, the city

and the company "Geotest" from Sarajevo

which is the daughter of the Czech compa-

ny from Brno.

Suljkanovic pointed out that the Czech

Development Agency so far invested more

than 3,000,000 KM in Doboj. "If the predic-tions come true, that Doboj is rich in geot-

hermal water, it will be used for heating

returnee school 'Sveti Sava' in Sevarlije,

building greenhouses in certain returnee

settlements and other places," said

Suljkanovic.

The deputy mayor of Doboj Dragan Vasilic

said that the town will allocate minimal

resources for implementation of the project

amounting to 100,000 KM, and expressed

satisfaction that the project will contribute

to numerous savings and environmental

protection.

Czech Ambassador in BiH Tomas Sunjog

said that for the first phase of the project, in

which will be examined geothermal poten-

tial in the Doboj area, a grant of the Czech

Development Agency of 1,100,000 KM is

provided.

Czech Ambassador also announced theconstruction of a Regional landfill in the

town of Doboj, involving 15 municipalities

of the RS and the FBiH.

Czech Development Agency would allo-

cate grant funds in the amount of 50 per-

cent of the total value, while the rest

would be provided by lobbying at interna-

tional banks.

The director of "Geotest" from Sarajevo

Damir Kasum said the geophysical sur-

vey on the field will begin in November on

the basis of which the potential sites for

drilling of wells would be determined, and

added that the wells will be dug in spring

next year.

Project from Doboj was selected as the

best in the competition of 300 applications,

consisting of a first stage - exploration of

geothermal resources, second stage - edu-

cation of local population about the use ofalternative energy sources, while the third

phase is the realization of pilot project of

using modern technologies for heating,

which will be implemented in the primary

school "Sveti Sava" in Sevarlije. A.G.

Memorandum on the Useof Geothermal Energy Signed

PROJECT WORTH 2 MILLION KM

BUSINESS NETWORK PROCREDIT BANK

Entry of BiH Companiesin the German MarketThe new building of ProCredit Bank Management hosted

a presentation for members of the Business Network on

"BiH companies' entry to German market"

BIFX(-0,31%)

SASX-10766,94

(-0,22%)

SASX-30896,61

(-0,17%)

BIRS767,88

(0,15%)

ERS10663,75

(0,00%)

FIRS1.884,58

(-0,74%)

1.525,36

7/22/2019 BH-Business Daily 1964

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On the occasion of the 7th

October - World Day for

Decent Work, Office of the

Friedrich-Ebert Foundation

in Sarajevo organized yes-

terday a roundtable titled "I

have a right to decent

work."

Director of the Friedrich-

Ebert-Stiftung in BiH Judith

Illerhues said that the purpose

of this roundtable is to point to

the situation in BiH when it comes to workers'

rights, Onasa reports.

"In the labor market of BiH there is great

uncertainty, which is particularly true when it

comes to young people. They are increas-ingly working for a predetermined period of

time, they do not have the same rights as

older workers, and the compensation for

their work is much lower," Illerhues said.

She added that the resolution of this prob-

lem must be addressed by the state, and

that it is very important that there are active

individuals, and strong unions.

As stated, with the aim of improving the

involvement of young people in the union,

Friedrich-Ebert-Stiftung, in cooperation with

the Youth Section of the Alliance of

Independent Unions of BiH and Youth

Movement of the Federation of TradeUnions of Republika Srpska, each year

organizes a union school where young

trade unionists meet with collective bargain-

ing, labor legislation in BiH, social dialogue

and other topics important for stronger trade

union involvement.

Also, a joint alumni-network of trade union

activists was launched in 2010, who thisyear created a music video titled "I have a

right to decent work", which was presented

yesterday.

"The video promotes five basic rights of

workers, the right to work and signed con-

tract of employment, the right to regular and

dignified wage, the right to protection and

safety in the workplace, the right to health

and pension insurance and the right to a

vacation," said Suzana Kvrgic, promoter of

the video.

She added that there is much talk about

youth unemployment, and very little about

the rights of young people who are working,which is the goal of the video.

President of Youth Movement of Federation

of Trade Unions of RS Goran Stankovic

stressed several workers' rights that are

commonly violated, namely: lack of pay,

bonuses, severance pay, hot meals, not

paying contributions for pension and health

insurance, lack of rights to protection and

safety in the workplace. R.K.

2B&H Business, October 8, 2013

Editor - in - Chief

AMRA ZIMIC

Publisher

POENTA d.o.o.

Sarajevo, 4 Zmaja od Bosne Street

Senior EditorDANIJELA SINANOVIC

Editor

IBRAHIM AYDOGAN

Journalist

ARNISA GAGULA

Office Assistant

MUSTAFA BAHTANOVIC

DTP

BEKIR TVRTKOVIC

Marketing manager

AJNA NUHANOVIC

GSM: 061 145 464Phone/Fax: 033 288 035, 033 288 032

E-mail: bhbusinessdaily@megatel.ba

BBI representative Haris Kovacevic

explained the four bank lines of credit and

the conditions under which the clients are

allocated funds.

He pointed out that the Turkish credit line is

particularly in expansion.

He explained that Turkey ensured 100 mil-

lion Euros for the sustainable return of

which BBI and Zirat bank received 50 mil-

lion Euros each.

Funds under extremely favorable conditions

are intended for all returnees in Bosnia andHerzegovina and the companies that

employ returnees, and Kovacevic said that

so far 50 million KM are placed at 1,160

customers, in 60 BiH municipalities and

cities.

According to him, 44 percent of funds are

placed in RS, 43 percent in the Federation

of BiH and 13 percent in Brcko District.

Bosnia Bank International plans to open two

branches in the RS by the end of the year.

Representatives of the Business Club and

Business Forum of this Bank presented

their activities in finding strategic partners to

potential clients, while representatives of

BIG MEV and the Foundation "Bridges of

Hope" / MNF / presented their way of organ-

ization and introduced those present to the

possibilities of establishing business ties

with businessmen from Turkey and the

Middle East.

The meeting presented the natural and eco-

nomic resources of the Prijedor region,which has minerals, agricultural land,

forests and water potential, which are under

favorable conditions offered to interested

investors for their placing in the function of

economic development. D.S.

Prijedor: BBI PresentsFour Credit Lines

Representatives of Bosnia Bank International / BBI / presented yesterday in Kozarac

their work to potential users, with a special focus on the credit lines, and the activitiesof its Business Club and Business Forum, Onasa reported

INTENDED FOR RETURNEES AND COMPANIES THAT EMPLOY THEM

ROUNDTABLE "I HAVE A RIGHT TO DECENT WORK"

Rights of Young Workers Most Often Violated

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Oaza was among 62 other products that were

shortlisted in quality assessment, which was

performed at the Faculty of Agriculture and

Food, University of Sarajevo.

After recently being awarded the Gold

Medal for Quality at the Plum Fair in

Gradacac, this is the second award this

year for the Oaza brand. It is known that

Oaza water is the first from BiH that was

awarded gold medals for quality and design

in one of the most prestigious fairs in

America, the Berkeley Springs, even sever-

al years in succession.

"One medal after another. The fact is satisfying

that after international awards for quality we

were awarded in Bosnia and Herzegovina.

ZEPS is one of the largest fairs in the country

and we are very proud of the fact that with

quality and overall branding we could over-

shadow other exhibitors, as Oaza is a Bosnian

wonder and one of the best mineral waters in

the world, and its potential is huge," says Haris

Hrvic, brand manager of Oaza.

All food products that were nominated for

the medal of quality at the ZEPS 2013 were

evaluated at the Institute for Agriculture and

Food Technology - Food Engineering in

Sarajevo. The chemical composition of min-

eral water Oazis was analyzed. The evalua-

tion was carried out at a tasting by con-sumer groups at Dubrovnik hotel in Zenica.

Also, the assessment was made by the jury

of ZEPS for the integrity of the product.

Adding up the three assessments it was

decided that the mineral water Oaza should

win the award "Golden Rose ZEPS". A.Z.

3B&H Business, October 8, 2013

The company Hypnex-Hydraulics and

Pneumatics Ltd Tuzla received at the ZEPS

fair a Plaque for their carbon brushes for

electrical engineering.

There are different types of these brushes,

for generators of thermal power plants and

hydro power plants, brushes for industrial

motors, for tool machinery, electric tools,

household appliances, and brushes for

motor vehicles.

"This is a tribute of ZEPS for companies

engaged in production. This way the fair sup-

ports the companies. For me it is a great

compliment by ZEPS," said Dervis Cicko,

director of the company to ekapija.ba.

Hypnex has participated in the ZEPS fair formany years and, as Cicko says, they are

happy because it is the only real industrial fair

in BiH. "A lot of our partners come to the fair

to meet again, talk among ourselves about

what our companies do, to make contact with

people. The fair is important for us because

we are engaged in production of brushes for

electrical rotating machines and for electrical

motors, and we are the only manufacturer in

BiH. We are also engaged in engineering

hydraulic and pneumatic equipment and

services. So we have an opportunity to pres-

ent our work only at ZEPS," he said.

He believes that the business related to engi-

neering and manufacturing of equipment,

what they do, is the least-favored thing you

can do. "As soon as we finish a year positive-

ly and when we appear on ZEPS, we have

already achieved success," he points out.

Cicko says that their biggest problem is thestate, and that each year they fight so that

the state does not destroy them. "The gov-

ernment is the biggest enemy of production,"

he emphasized. A.Z.

Hypnex Tuzla AwardedRecognition for Graphite Brushes

The company IGM Visoko received

recognition for their heat insulating

facade Ekopor 100 mm at the ZEPS fair.

"With our products you can save up to 51

percent of energy per year. This is not a

marketing gimmick; we had a joint project

with the Caritas from Switzerland and the

Centre for Ecology and Energy from Tuzla

where 10 samples were taken from build-

ings that had no technical facade. They

were measured energy consumption

before and after the facade. On average,

the results showed that there was 51 per-cent less consumption after facade," said

Adnan Imamovic, officer for marketing and

IT of the company IGM for ekapija.ba.

The project was done in the period 2008

- 2010 and energy consumption was

measured in all buildings in the heating

season before rehabilitation of the facili-

ties, then the heating season after reha-

bilitation of facilities.

IGM is a leading manufacturer of clay

and styrofoam products in BiH, and they

also produce aluminum and PVC doors

and windows. They also have a trade

segment, and a segment of construction

operations that builds flats and business

premises. R.K.

IGM VisokoReceived Award

for Their

Product Ekopor

Mineral Water OazaAwarded the Golden RoseMineral Water Oaza - Tesanjski Kiseljak won the "Golden Rose" award for quality

at the 20 Jubilee International Economy Fair ZEPS in Zenica

ZEPS FAIR PRESENTED AWARDS

Deutsch Bosnische Cooperation has been

present during the last five years at the

ZEPS fair in Zenica which serve them to

keep in touch with regular and potential cus-

tomers and suppliers.

"This year we presented novelties in the

field of transportation system components

(rollers, conveyor belts, drums and other

parts). Labyrinths and housing for conveyor

rollers that operate in difficult conditions

under heavy loads were presented, mining,

steel mills, coke ovens and TPP, rollers for

food industry and self-extinguishing plastic

labyrinths that are installed in environments

of up to 1200 degrees Celsius," says direc-

tor of the company Almir Kujundzic.

He stated that in addition to customers and

suppliers they also arranged meetings withthe world's leading manufacturers of com-

plete transportation systems and discussed

possible joint projects in the Balkans.

DBC is the largest manufacturer of convey-

or rollers in BiH and one of the leading in the

Balkans and they are aware of the fact that

huge investment projects will follow (con-

struction of the Thermal Power Plant and

Cement Plant Banovici, building the block 7

of TPP Tuzla, building TPP Stanari, big

investments in mines, SSL, Natron Hayat,

TPP Ugljevik, TPP Gacko, investments in

Serbia and Kosovo).

''All these projects conduct transports in

their systems exclusively by conveyor

belts and most of the above mentioned

companies are our long-term customers.

DBC wants to be ready for the projects

and we are aware that we need a partner

for who, with their financial strength and

experience, will help that hundreds of mil-lions of Euros do not go to import of these

components again," announced the peo-

ple of the company. A.G.

DBC Gracanica at the ZEPS Fair:Enormous Investments

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4B&H Business, October 8, 2013

The two-day conference of the Forum of

Adriat ic and Ionian Cities, which was

hosted by the Mayor of Mostar, LjuboBeslic, and colleagues from Croatia, Italy,

Montenegro and Bosnia and Herzegovina

ended on Saturday in Mostar with the

expectation that these cities are strongly

linked through joint projects that can be

funded from the European funds, Vecernji

List writes.

"Each of these countries in the forum seek

to apply for EU projects, and most of the

projects are in the field of environment,

infrastructure or other development proj-

ects, which altogether can help the integra-

tion of new towns in this forum," said Mayor

of Pescara, Luigi Mascia Albor.

According to him, there are many

opportunities to connect cities of theAdr iat ic-Ionian region which would con-

tribute to their economic development.

Mayor of Split, Ivo Baldasar, who partic-

ipated in the work of the Forum of

Adr iat ic and Ionian Cit ies , sa id that Italy

and Croatia lead in projects of mutual

cooperation and the possibility of using

funds.

"What is most interesting to us in Split is to

see better boat links between Italy and

Croatia, herewith we would connect BiH

and other parts of the Adriatic-Ionian

region," said Baldasar.

Mostar Mayor Ljubo Beslic, who hosted the

fellow mayors from several countries in the

region, said that the aim was to ensure thatBiH does not lag behind its neighbors and

that this type of cooperation contributes to

that.

The Adriatic and Ionian Cities Forum is an

international organization founded in

Ancona in 1999 with the purpose of

stronger economic, social and cultural con-

nections between towns on the shores of

two seas. It brings together some 50

coastal cities from seven countries along

the Adriatic and Ionian Sea - Italy, Albania,

Greece, Slovenia, BiH, Montenegro and

Croatia. R.K.

Better Use of EU FundsAdriatic-Ionian region offers great possibility for cooperation in the economy,

as well as environmental projects

REGIONAL COOPERATION

Currency exchange - Central Bank of BiHThe International Banking Code (ISO CODE) for the Convertible Marka is BAM.

Currency exchange - October 8, 2013

Country Num code Alpha code Units Buy Middle Sell

978 EUR 1 1.955830 1.955830 1.955830

036 AUD 1 1.352846 1.356237 1.359628

124 CAD 1 1.392534 1.396024 1.399514

191 HRK 100 25.584427 25.648548 25.712669

203 CZK 1 0.076468 0.076660 0.076852208 DKK 1 0.261531 0.262186 0.262841

348 HUF 100 0.659480 0.661133 0.662786

392 JPY 100 1.484057 1.487776 1.491495

440 LTL 1 0.565032 0.566448 0.567864

578 NOK 1 0.240056 0.240658 0.241260

752 SEK 1 0.223156 0.223715 0.224274

756 CHF 1 1.591045 1.595033 1.599021

949 TRY 1 0.720250 0.722055 0.723860

826 GBP 1 2.312363 2.318158 2.323953

840 USD 1 1.437474 1.441077 1.444680

643 RUB 1 0.044531 0.044643 0.044755

156 CNY 1 0.234897 0.235486 0.236075

941 RSD 100 1.702898 1.707166 1.711434

SDR (Special Drawing Rights) October 4, 2013 = BAM 2.212513

EMU

Australia

Canada

Croatia

Czech RDennmark

Hungary

Japan

Lithuania

Norway

Sweden

Switzerland

Turkey

UK

USA

Russia

China

Serbia

Yesterday in Munich, at the Europe's largest

real estate fair "Expo Real", which takes

place from October 7 to 9, was held a pres-

entation of investment opportunities in the air-

ports of Banja Luka and Trebinje, RS Ministry

of Economic Affairs and Regional

Cooperation informed.

"Upon opening of everyday flights Banja

Luka - Belgrade, which should be operationalfrom December 1 2013, we are trying to find

potential investors for airport passenger and

cargo infrastructure," the statement said.

Investment opportunities were presented by

the acting director of RS Airport Davorin Mihic

and acting director of Trebinje Airport Pero

Munisic. RS government, organized by the

Ministry of Economic Relations and Regional

Cooperation, this year participates in

Europe's largest real estate fair. It is recalledthat the Munich "Expo Real" is a leading inter-

national fair in this sector, which brings

together more than 1,700 exhibitors at

64,000 square meters of exhibition space.

Countries, regions, intermediary agencies in

the field of the real estate, financial and insur-

ance companies, airports, and other types of

potential investors, are presented at the fair.

Hence it is used for presentations and for

making specific contacts and businessarrangements. D.S.

RS Airports Presented In MunichRS GOVERNMENT

In brief

FBiH Highways and a consortium made

of IPSA Institute d.o.o. Sarajevo and

Divel d.o.o. Sarajevo will sign today in

Capljina a contract for providing consul-

tancy services for creating a main design

of Corridor 5c's Pocitelj - Bijaca section,

subsection Pocitelj - Zvirovici. The con-

tract value is 1,757,780 Euros, and the

funding have been provided by a grant ofthe EIB

Chairman of the HoR Denis Becirovic met

yesterday in Sarajevo with the

Ambassador of Norway Vibeke Lilloe.

The main topics were the improvement of

economic and political cooperation

between BiH and Norway

Shareholders of RS Telecommunications

a.d. Banja Luka will be paid interim divi-

dend in the amount of 46,083,876 KM in

cach, according to the draft decision onwhich the shareholders of this company

will declare at the Assembly scheduled

for November 7

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5B&H Business, October 8, 2013

NPRFRK2 ZIF Naprijed dd Sarajevo MFTS 2,05 2,70 1,99 2,06 56.559 116.169,58 5

BNSFRK2 ZIF Bonus dd Sarajevo MFTS 2,96 0,00 2,96 2,96 130 384,80 2

BIGFRK3 ZIF BIG Investiciona grupa dd Sarajevo MFTS 3,80 0,00 3,80 3,80 2.007 7.626,60 1

PRPFRK2 ZIF Prof Plus dd Sarajevo MFTS 3,51 -2,50 3,60 3,50 2.471 8.673,50 3

PVNFRK3 ZIF Prevent invest dd Sarajevo MFTS 4,25 -2,97 4,25 4,25 83 352,75 1

The Official quotation - PIFs

BSNLR Bosnalijek d.d. Sarajevo MFTS 13,10 -2,96 13,10 13,10 152 1.991,20 2

Official quotation

Sarajevo Stock ExchangePRICE LIST - October 7, 2013

BHTSR BH Telecom d.d. Sarajevo MFTS 19,50 0,97 19,30 19,50 2.898 56.501,00 9

ENPSR Energopetrol dd Sarajevo MFTS 6,21 -2,97 6,21 6,21 227 1.409,67 2

FDSSR Fabrika duhana Sarajevo dd Sarajevo MFTS 57,72 -2,99 57,72 57,72 534 30.822,48 2

CTBURK4 Centrotrans-Eurolines d.d. Sarajevo MFTS 25,00 0,00 25,00 25,00 274 6.850,00 1

The free Market - Stock Market - Prime Free Market

PRAKRK3 Prevoz radnika Kreka d.d. Tuzla Fixing 1 9,00 5,88 9,00 9,00 89 801,00 1

The free Market - Stock Market - Secondary Free Market

Total 270.486,23 BAM

Symbol I s s u e r Trading Official % Open Close Volume Value No. of

System Price (BAM) Change Price Price (BAM) Transaction

PLINRK1 Plin Sarajevo d.d. Sarajevo Fixing 1 9,99 0,00 9,99 9,99 850 8.491,50 1

The free Market - Stock Market - Tertiary Free Market

Expressed in numbers, Bosnalijek in August of

this year achieved revenue from sales in theamount of 10.5 million KM, while in September

they generated revenue of 11.8 million KM.

The largest sales revenue was recorded in

the CIS region and Russia, then in BiH and

the region of Southeast Europe.Particularly encouraging is increased sales

realization in the markets of Russia, Ukraine

and Kosovo where there is an increased

secondary sale and increased level of mar-

keting activity.This success is the result of efforts to nor-

malize Bosnalijek business, improvement

strategies and customer relationships. D.S.

Record Sales Revenue in Last Two MonthsSecond consecutive month, Bosnalijek has met monthly sales plan and achieved more than

57 percent of the annual plan, which is a great success in the difficult business environment

in which the company is located, according to the company

BOSNALIJEK

FBIHK1A FBiH obveznice ratna potrazivanja ser. A MFTS 69,02 1,50 69,02 69,02 719 496,25 1

FBIHK1B FBiH obveznice ratna potrazivanja ser. B MFTS 67,00 -1,47 67,00 67,00 627 420,09 1

FBIHK1C FBiH obveznice ratna potrazivanja ser. C MFTS 65,00 0,00 65,00 65,00 551 358,15 1

FBIHK1D FBiH obveznice ratna potrazivanja ser. D MFTS 62,00 0,00 62,00 62,00 551 341,62 2

FBIHK1E FBiH obveznice ratna potrazivanja ser. E MFTS 60,00 0,00 60,00 60,00 553 331,80 1

FBIHKP FBiH stara devizna stednja serija P MFTS 98,00 -0,01 98,00 98,00 7.940 7.781,20 2

FBIHKR FBiH stara devizna stednja serija R MFTS 96,03 0,03 96,03 96,03 10.500 10.083,15 1

FBIHKB1 FBiH stara devizna stednja serija BV MFTS 99,50 0,00 99,50 99,50 16.178 16.097,11 1

BOND quotation

Nobel Corporation, BiH leader in sales of

water filters, is taking over the representation of

the largest European manufacturer of water fil-

ters - the Italian Atlas. "We have finished the

job and now we are going to distribute their

products in BiH," said Boris Bosnjak, Sales

Director of Nobel Corporation, to ekapija.ba.Also this year the company presented itself

at the ZEPS fair with two products that they

market in BiH; heating systems without

pipes, Altantic boiler and water filtration

systems with which Nobel has already

become a kind of synonymous.

"Atlantic is the world's largest manufacturer

of this type of heating and the only in thisarea that exports its products to the

Chinese market. Nobel has been their part-

ner in BiH for 17 years. There are also

water filtration systems, and any problems

related to water quality can be resolved

with the help of our filters. This is support-

ed by our references, which are hospitals,

restaurants, individuals, specialized labora-tories, etc.," said Bosnjak. R.K.

Nobel Corporation Becomes Representative of Italian AtlasDISTRIBUTION STARTS

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6B&H Business, October 8, 2013

Banja Luka and the German city

Kaiserslautern have a very meaningful and

fruitful cooperation based on the exchange ofknowledge and experience, particularly in the

field of culture and the economy, said the

mayor of Banja Luka Slobodan Gavranovic.

"Previous cooperation was comprehensive and we

want to expand it even more," said Gavranovic.He noted that, at the invitation of leaders of

Kaiserslautern, on the occasion of the tenth

anniversary of the signing of the agreement

on cooperation between the two cities, the

delegation of Banja Luka visited thisGerman city on October 3-6.

Gavranovic said that the special topic of dis-

cussion in Kaiserslautern was the construc-

tion of Technology business-park.

"We visited their technological park, which is

already developed. It's a completely differ-

ent model, but the experiences are very

important. Under this system, there are

technical and scientific institutions, which

deal with the project of creating self-sustain-

ing parks," explained Gavranovic.

He said that during his visit to Kaiserslautern

it was agreed that the delegation of this

German city visits Banja Luka and help, inorder to avoid mistakes during the construc-

tion of the Technology business-park in the

Banja Luka's settlement Ramici. A.G.

Good Cooperation with KaiserslauternGavranovic said that the special topic of discussion in Kaiserslautern

was the construction of Technology business-park

BANJA LUKA MAYOR IN GERMANY

Banja Luka Stock ExchangePRICE LIST - October 7, 2013

Symbol I s s u e r Avg. % Best Best Opening Max Min Closing No. of Volume Value

Course Change Ask Bid Price Price Trans. (BAM)

BLBP-R-A ZIF BLB - profit a.d. Banja Luka 3,11 -0,64% 3,04 3,50 3,10 3,10 3,13 3,11 2 132 410,40

EKVP-R-A ZIF Aktiva invest fond a.d. Banja Luka 3,01 0,00% 3,01 3,48 3,01 3,01 3,01 3,01 1 72 216,72

ELDO-R-A Elektro Doboj a.d. Doboj 0,60 0,00% 0,60 0,70 0,60 0,60 0,60 0,60 2 973 583,80

HELV-R-A Hidroelektrane na Vrbasu a.d. Mrkonjic Grad 0,43 0,00% 0,43 0,50 0,43 0,43 0,43 0,43 1 9712 4.176,16

HGPT-R-A Hercegovinaputevi a.d. Trebinje 1,00 0,00% 1,00 1,00 1,00 1,00 1,00 3 999 999,00

INVP-R-A ZIF Invest nova fond a.d. Bijeljina 0,045 4,65% 0,041 0,045 0,045 0,045 0,045 0,045 11 2600000 117.000,00

KRIP-R-A ZIF Kristal invest fond a.d. Banja Luka 5,10 0,00% 5,00 5,30 5,10 5,10 5,11 5,10 6 1644 8.384,90

MJMT-R-A 1. maj metalska a.d. Banja Luka 0,22 65,41% 0,22 0,22 0,22 0,22 0,22 2 119525 26.295,50

PLRP-R-A ZIF Polara invest fond a.d. Banja Luka 4,54 -7,35% 4,54 4,90 4,54 4,54 4,54 4,54 3 280 1.271,20

RFUM-R-A Rafinerija ulja a.d. Modrica 0,16 1,27% 0,16 0,189 0,16 0,16 0,16 0,16 1 7718 1.234,88

RNAF-R-A Rafinerija nafte Brod a.d. Brod 0,031 0,00% 0,031 0,04 0,031 0,031 0,031 0,031 2 5162 160,03

RSDS-O-C Republika Srpska - stara devizna stednja 3 94,11 0,00% 94,11 94,11 94,11 94,11 94,11 1 2498 940,35

RSDS-O-D Republika Srpska - stara devizna stednja 4 90,00 1,12% 90,01 92,00 90,00 90,00 90,00 90,00 1 17582 12.659,04

RSDS-O-E Republika Srpska - stara devizna stednja 5 87,64 0,29% 87,83 87,99 87,39 87,39 87,83 87,83 15 112277 98.402,88

RSOD-O-A Republika Srpska - obaveze dobavljacima 1 70,04 3,00% 68,00 72,00 70,04 70,04 70,04 70,04 1 24543 17.189,92

RSRS-O-A Republika Srpska - izmirenje ratne stete 1 67,00 0,59% 67,00 67,99 67,00 67,00 67,00 67,00 3 23908 16.018,36

RSRS-O-B Republika Srpska - izmirenje ratne stete 2 64,61 0,16% 64,61 65,50 64,50 64,50 65,00 65,00 5 39766 25.692,49

RSRS-O-C Republika Srpska - izmirenje ratne stete 3 65,06 0,31% 64,96 65,74 65,06 65,06 65,06 65,06 2 20987 13.654,14

RSRS-O-E Republika Srpska - izmirenje ratne stete 5 56,40 2,53% 56,30 57,00 56,40 56,30 57,00 56,40 4 8566 4.831,22

RSRS-O-F Republika Srpska - izmirenje ratne stete 6 56,15 -1,49% 56,22 57,49 57,00 56,00 57,00 56,15 8 60300 33.859,15

RSRS-O-G Republika Srpska - izmirenje ratne stete 7 57,21 -0,14% 56,00 57,00 57,00 56,00 58,00 57,21 6 21840 12.495,20

TLKM-R-A Telekom Srpske a.d. Banja Luka 1,68 0,00% 1,69 1,70 1,68 1,68 1,69 1,69 6 10801 18.165,68

ZPTP-R-A ZIF Zepter fond a.d. Banja Luka 7,64 -2,05% 7,62 7,80 7,65 7,60 7,70 7,70 9 443 3.385,73

ZTRG-R-A Zadruzna trgovina PPP a.d. Mrkonjic Grad 0,12 -2,44% 0,12 0,12 0,12 0,12 1 2559 307,08

The Official Market

Total: 418.334 BAM

Prime Minister of the RS Govt Zeljka

Cvijanovic met yesterday in Banja Luka with

non-resident Ambassador of Israel to BiH

David Cohen on the current political and

economic situation in the RS and BiH, with a

focus on improving economic cooperation

between Israel and the Republika Srpska.

The meeting also discussed the promotion

of cooperation in the field of health and

agriculture, as well as the activities carried

out in the RS to improve the business cli-

mate, RS Government said.

On this occasion, the importance of the

event of marking the Day of Israel in the

RS was highlighted, which is being held for

the third time in Banja Luka. A.G.

Enhance EconomicCooperation with Israel

RS PM WITH AMBASSADOR OF ISRAEL

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7B&H Business, October 8, 2013

REGION

Radoje Zugic, the Finance Minister, said the

government will take on another 100-mil-

lion-euro loan from commercial banks with a

sliding interest rate of 5.75 percent and

below.

The repayment term would be three years,

the minister said.

He added that the money would be used to

cover the budget deficit, fiscal reserves and

refinance existing obligations.

This year's budget law plans a debt of 250

million euro.

International financial institutions have

highlighted the rise in public debt in

Montenegro, which has almost doubled to

50 percent of GDP over the last few

years. Montenegro has to date taken on

debt of about 119 million euro for return-

ing guarantees given to Aluminum Plant

Podgorica, KAP.

The plant was officially declared bankrupt

on July 8 when its 1,200 workers were all

fired. Zugic said the government would

soon again propose a budget rebalance to

parliament, which was forced to put on ice in

July when it did not have the support of the

majority in parliament. R.K.

Another 100 MillionLoan To Be Taken

Montenegro is due to take on another 100 million euro in credits from commercial

banks to cover the budget deficit, reserves and refinance its existing obligations, Beta reports

MONTENEGRO

SELLING STAKES?

The National Bank of Greece (NBG) plans to

sell its stakes in banks in southeastern Europe

- Macedonia, Albania, Bulgaria, Romania and

Serbia, Katimerini reports. However, NBG has

reached an agreement with the European

Commission's competition watchdog to keep a

majority stake in Turkey's Finansbank, the web

portal 24vesti.mk has reported.

It is said that the base in Skopje should beconsolidated and improved, but this is going

to be a long process that will take between

five and seven years to complete. The web

portal says that NBG's withdrawal from

Skopje-based Stopanska Banka is nothing

but speculation as this bank had EUR 2 bil-

lion worth of deposits two months ago and is

in excellent financial condition.

There is no official announcement of any

change in the structure of shareholders of

Stopanska Banka that continuously

achieves success and is financially inde-pendent from the NBG Group. This bank is

under the supervision of the National Bank

of Macedonia. R.K.

National Bank of GreeceExits SEE Markets

A recent survey by the State Employment

Agency brings the sky-high unemployment

figure back down to earth by the use of

new methodology, Birn reported.

The survey published on the agency's

website suggests that the real unemploy-

ment rate in Macedonia is around 10 per-

cent, far less than the official figure of 29

percent of the State Statistical Office.

The agency came up with this number by

distinguishing between those unemployed

and actively searching for jobs, and others

listed as unemployed who are presumed

to be working in the "grey" market.

According to the survey, of some 220,000

registered unemployed persons in

Macedonia, 130,000 told the agency's

questionnaire that they do not wish the

agency to offer them jobs if they become

available. The agency now counts just the

other 90,000 who asked for the agency's

assistance as the "real unemployed".

Unnamed sources from this state office

were cited in the economic magazine

Kapital as saying they would soon repeat

the survey, just to be sure, before trumpet-

ing the new figures.

At a recent talk before the business com-

munity in late September, Prime Minister

Nikola Gruevski said the government itself

had queried the unemployment figures.

"We will soon be able to answer many of

you who have complained of having a hard

time finding workers. We have often won-

dered why that is so, despite the high

unemployment rate," Gruevski told the

businessmen. He added that the employ-

ment agency had "devised a methodology

to distinguish between active and passive

unemployed persons".

Kapital commented that although an unem-

ployment figure of 10 percent might sound

to many Macedonians like something from

a "believe-it-or-not" section, economists

have for years questioned the veracity of

the figure of some 30 percent. D.S.

High Jobless Figure DisputedMACEDONIA'S EMPLOYMENT AGENCY

Public transport in the Croatian capital

Zagreb is almost three times more

expensive than in Rome. Daily news-

paper Vecernji List revealed the list of

public transport tickets' cost inEuropean capitals, placing Zagreb at

the top of the list. The same source

reveals that an average citizen of the

Croatian capital needs to work 17 min-

utes for a public transport ticket. At the

same time people in Vienna work nine

minutes to pay a public transport tick-

et. In Italian capital Rome they work

six minutes for the ticket. In the

Slovenian capital Ljubljana, or in

Czech capital Prague they work

eleven minutes to buy a ticket when

comparing average wages and the

price of a public transport ticket,

reports Croatian Times. A.Z.

ZagrebTransportation

Almost Three TimesMore Expensive

Than Rome

CROATIA

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The carrier's CEO, Daliborka Pejovic, explains

the measure is necessary in order for the airline

to save money. "We have to cut costs. We

spend up to 400.000 Euros per year just on

accommodation", Ms. Pejovic says. The major-

ity of Serbian employees at Montenegro Airlines

are technicians and engineers. In addition, a

handful of Serbian cabin crew has also lost their

jobs. Ms. Pejovic adds that another reason for

the termination of contracts for its staff from

Serbia is that they cannot secure permits to stay

and work in Montenegro.The CEO of Montenegro Airlines ensures that

Montenegrin nationals working at the carrier

are safe. "There are no plans to lay off any of

our workers. Only if we really have to, we will

consider it as a final measure. Currently there

are 433 employees at Montenegro Airlines",

Ms. Pejovic explains. However, four interns

working at the airline recently lost their jobs

with the CEO stating it was a one off as they

were not hired according to procedure.

Realizing its newest measure could be interpret-

ed as racial discrimination, the carrier has issued

the following statement, "In accordance with the

goals of our company, which includes the outmost

rationalization of business, we have recently done

a lot of work to cut all costs, of which the public has

been informed of. The dismissal of employees

was carried out under no particular basis rather

we are just 'dismissing costs'".

The airline's latest unique cost cutting meas-ures were approved by CEO Daliborka

Pejovic who is a high ranking member of the

governing DPS party and her four member

Board of Directors which features Dusko

Lalicevic, former ambassador and head of the

Montenegrin Tennis Association, Tufik

Bojadzic, a politicologist who is also the

Deputy Mayor of the town of Bijelo Polje, Zivko

Andrijasevic, a historian who is also the advisor

on national policy to the Montenegrin President

and Branislav "Brano" Golubovic, the head of

the DPS Municipal Board in Berane, Ex- Yu

Aviation News writes. D.S.

Foreign Workers No LongerWelcome At Montenegro AirlinesIn an extraordinary measure, Montenegro Airlines has announced it is terminating contracts with all Serbian

citizens working for the airline in Montenegro adding that Montenegrin nationals will not lose their jobs

IN ORDER TO SAVE MONEY

Foreign investments totaling almost 2 bil-

lion Euros were realized in Macedonia from

July 2006 until July 2013 suggesting an

increase of one billion compared to the pre-

vious ten-year period when the country's

economic policies had been created by the

current opposition, stated Zoran Stavreski

on Tuesday.

The Deputy PM and Minister of Finance

was commenting on the latest data show-ing that foreign investments in Macedonia

in July 2013 stood at 30 million Euros and

130 million Euros since the beginning of

the year.

The data on the level of foreign invest-

ments in the country served as a confirma-

tion that the government's policy on attract-

ing foreign investments was yielding

results, according to him.

"We are content with the fact that over 130

million Euros of foreign investments entered

since the start of 2013, which is more than

the total sum invested last year. Attractingforeign investments is a process and should

be perceived in a period of four to five years.

For instance, from July 2006 until July 2013

a total of one billion and 800 million Euros of

foreign investments entered in Macedonia

which is up by one billion compared to the

previous ten-year period when the current

opposition had created the economic poli-

cies," Stavreski said.

The figures, he added, verify that the gov-

ernment is successful in meeting its objec-

tive to attract as many foreign companies

and global brands as possible to contributeto boosting export, economic growth and

the employment rate, reports the

Government. A.G.

EUR 130 Million in FDI since JanuaryMACEDONIA

In its last full month of operations as Jat

Airways, the Serbian national carrier handled

165.013 passengers, a decrease of 7% com-

pared to the same month last year. The results

come despite the airline boosting its number of

flights by 14%. The average cabin load factor

for the month stood at 65%, which is elevenpoints down on September 2012. Numbers

were down across the board. On Jat's flights to

and from Montenegro, the airline saw an 8%

passenger decline. Euro Mediterranean flights

recorded a 10% plunge in numbers while

scheduled traffic saw a 9% passenger

decrease. Charter flights were the only to see

numbers improve, up 11% on last year.

In September, flights to and from Ohrid, Pula,

Split and Paris saw the greatest rate of pas-

senger growth compared to last year.

Overall, the airline's numbers on flights to

Croatia grew by 60%. The best average

cabin load factor was recorded on flights from

Thessaloniki and Monastir to Belgrade, both

at 96%, followed by Split - Belgrade at 90%.

During the month, Jat had fourteen aircraft in

operation.

So far this year, Jat Airways has welcomed1.098.216 passengers on board its aircraft, a

decrease of 2% compared to the same peri-

od last year. The average cabin load factor

for the first nine months stands at 69%, down

five points. While passenger numbers to

Montenegro are the same as last year, Euro

Mediterranean flights have seen a 4%

decline while charter flights have recorded a

passenger boost of 14%.

Jat Airways will operate under its name for

most of October before it officially begins

operations as Air Serbia on October 27.

Poor September Performancefor Serbia's Jat Airways