SARAJEVO, May 7 - Energoinvest d.d. Sarajevo concluded the Contract with Korean company "Iljin electric Ltd." on selling the license for production of the plants of EMOP type, which moves the newest generation of the high voltage SF6 switches of the Energoinvest production type SFEL.
Further sales to the Korean company, as well as joint development projects within energy filed have been announced. The representatives of Iljin Electric Ltd will visit Energoinvest for further talks in July.
2009-05-06
Indexes at Sarajevo Stock Exchange witnessed growth in April
All indexes of the Sarajevo Stock Exchange experienced growth in April.
The Sarajevo Stock Exchange Main Index (SASX-10) rose by 9.67 percent compared to the previous month.
The investment fund index (BIFX) rose by 5.88 percent while Value Index SASX-30 rose 6.55 percent.
The mostly traded stock was the one of "Bosnalijek" dd Sarajevo rising by 18.35 percent. It was closely followed by "Sarajevo osiguranje" dd Sarajevo, whose stocks rose by 13.07 percent.
When it comes to Investment Funds the biggest increase was noted by Stock Fund IF "BIG Invest. Gr." d.d. Sarajevo whose shares rose by 17.73 percent.
On the other hand funds IF "Bosfin" d.d. Sarajevo and "Herbos Fund" d.d. Mostar, had it's stocks fall by 4.89 and 7.04 percent respectively.
The Sarajevo Stock Exchange Main Index (SASX-10) rose by 9.67 percent compared to the previous month.
The investment fund index (BIFX) rose by 5.88 percent while Value Index SASX-30 rose 6.55 percent.
The mostly traded stock was the one of "Bosnalijek" dd Sarajevo rising by 18.35 percent. It was closely followed by "Sarajevo osiguranje" dd Sarajevo, whose stocks rose by 13.07 percent.
When it comes to Investment Funds the biggest increase was noted by Stock Fund IF "BIG Invest. Gr." d.d. Sarajevo whose shares rose by 17.73 percent.
On the other hand funds IF "Bosfin" d.d. Sarajevo and "Herbos Fund" d.d. Mostar, had it's stocks fall by 4.89 and 7.04 percent respectively.
2009-05-05
Bosnia, IMF agree 1.2 bln euro 3-year deal
SARAJEVO, May 5 (Reuters) - Bosnia and the International Monetary Fund (IMF) agreed a 1.2 billion euro ($1.61 billion) deal over three years to lessen the impact of global economic crisis, Bosnia's Prime Minister said on Tuesday.
The agreement was postponed from the last week to give Bosnian officials more time to pin down technical details and government guarantees about the implementation of policies requested by the lender under the arrangement.
The agency has stepped up its presence in the Balkans as nearly all states are entering recession and many seeking its help, although they had hoped the region could avoid the worldwide downturn.
The National Fiscal Council has projected an economic contraction of 1.5 percent in 2009 and flat growth in 2010. The IMF's latest forecast for Bosnia this year was a 3 percent contraction of GDP.
The agreement was postponed from the last week to give Bosnian officials more time to pin down technical details and government guarantees about the implementation of policies requested by the lender under the arrangement.
The agency has stepped up its presence in the Balkans as nearly all states are entering recession and many seeking its help, although they had hoped the region could avoid the worldwide downturn.
The National Fiscal Council has projected an economic contraction of 1.5 percent in 2009 and flat growth in 2010. The IMF's latest forecast for Bosnia this year was a 3 percent contraction of GDP.
Širbegović group signs agreement of understanding worth 100 million € with Malaysian HDC
Faruk Širbegović, CEO of Širbegović Group, has today signed a Memorandum of Understanding with Malaysian HDC on cooperation on the project of the first "Halal Park" in Bosnia. The deal was signed in Kuala Lumpur, Malaysia.
The plan is to locate "Halal Park" in a business zone of Širbegović Group in Gracanica, Bosnia. Current value of the project is estimated to around 100 million € with projected profits of 500 million € a year. Within two years, needed for Halal Park to achieve it's full capacity, several thousand new employment opportunities will be generated.
"The potential for food production in Bosnia is currently estimated to be around 4 billion €" - said Faruk Širbegović, and added: "Malaysia and Bosnia have for long enjoyed good relations, and we are delighted to extend our cooperation in this manner. We invite our Malaysian counterparts to seize all those tremendous business opportunities that Bosnia has to offer. This project also presents the possibility for Malaysian companies to take advantage of the Bosnian "Halal Park" as a platform to enter the EU market."
The plan is to locate "Halal Park" in a business zone of Širbegović Group in Gracanica, Bosnia. Current value of the project is estimated to around 100 million € with projected profits of 500 million € a year. Within two years, needed for Halal Park to achieve it's full capacity, several thousand new employment opportunities will be generated.
"The potential for food production in Bosnia is currently estimated to be around 4 billion €" - said Faruk Širbegović, and added: "Malaysia and Bosnia have for long enjoyed good relations, and we are delighted to extend our cooperation in this manner. We invite our Malaysian counterparts to seize all those tremendous business opportunities that Bosnia has to offer. This project also presents the possibility for Malaysian companies to take advantage of the Bosnian "Halal Park" as a platform to enter the EU market."
2009-05-04
Tourism big chance for Bosnia says Al Fahim - President of Dubai Pearl Group
Abdul Majeed Ismail Al Fahim, was one of the consultants at the beginning of the work of BBI Bank in Bosnia, the first and currently the only bank in Bosnia, which operates on the principles of Islamic banking. Al Fahim, in an interview for the "Leader" says that the support and the establishment of banks in Bosnia was done with the intention of promoting the concept of Islamic banking to Europe through Bosnia.
Even if he only stayed in Bosnia for a day, Al Fahim said that he had a sufficient view from the plane to see that the investment potential of Bosnia is huge and that it is only a matter of time before it is detected and exploited, especially in the tourism sector.
"I know a lot of people from Bosnia, and I have read about that country, but I did not expect it to be so beautiful. I am very impressed with landscapes that I saw, with the mountains that surround your valley. I think that the mountains are great opportunities for tourism development because I believe that many people will come to them to rest and enjoy the snow. The whole region can become a strong tourist destination. This is a great opportunity for your country. You have a lot of thermal springs, which can also be connected with tourism, but also treatment and all that should be used" - said Al Fahim.
"As far as I know, Bosnia has great human resources. I have experience with one of Bosnians who ran one of my factories in Abu Dhabi. When he went for hollidays we really felt his absence, and we hardly waited for him to return. So I have a good opinion of employees from Bosnia" - said Al Fahim.
Even if he only stayed in Bosnia for a day, Al Fahim said that he had a sufficient view from the plane to see that the investment potential of Bosnia is huge and that it is only a matter of time before it is detected and exploited, especially in the tourism sector.
"I know a lot of people from Bosnia, and I have read about that country, but I did not expect it to be so beautiful. I am very impressed with landscapes that I saw, with the mountains that surround your valley. I think that the mountains are great opportunities for tourism development because I believe that many people will come to them to rest and enjoy the snow. The whole region can become a strong tourist destination. This is a great opportunity for your country. You have a lot of thermal springs, which can also be connected with tourism, but also treatment and all that should be used" - said Al Fahim.
"As far as I know, Bosnia has great human resources. I have experience with one of Bosnians who ran one of my factories in Abu Dhabi. When he went for hollidays we really felt his absence, and we hardly waited for him to return. So I have a good opinion of employees from Bosnia" - said Al Fahim.
2009-05-02
Breaking News! Bosnia about to privatize 12 biggest enterprises
Agency for Privatization (APF) will announce a public call for expressions of interest for participation in the privatization of 12 major state companies, in mid of this month . This public call serves as a proof of the readiness of the Government to begin the privatization of large state-owned company that has been largely awaited for years.
All interested parties will be invited to present a letter of intent and show interest in participation in the privatization of 90 percent "BH Telecom", 50 percent "of Croatian telecommunications" and 90.33 percent of "Agrokomerc".
Public invitation will also include 67 percent of capital of "Energoinvest" and "Hidrogdanja", 67 percent in "Sipad export-impor"t, and the same package of shares in the "Unis".
On the list for privatization are also 39.91 percent of the "Sarajevo Tobacco Factory(FDS)", 19.85 percent of "Bosnalijek" and 45.49 of "Sarajevo-insurance."
The remaining 22.12 percent equity in the "Energopetrol", and the majority package of shares from 51 percent in "Remontni Institute" from Travnik will also be offered.
APF ask the interested bidders to provide letter of intent including information about which enterprises that are interested and the manner and method of participation in the privatization. On the basis of all the information it receives, AFP will determine the dynamics, the method and other conditions of privatization of 12 companies.
All interested parties will be invited to present a letter of intent and show interest in participation in the privatization of 90 percent "BH Telecom", 50 percent "of Croatian telecommunications" and 90.33 percent of "Agrokomerc".
Public invitation will also include 67 percent of capital of "Energoinvest" and "Hidrogdanja", 67 percent in "Sipad export-impor"t, and the same package of shares in the "Unis".
On the list for privatization are also 39.91 percent of the "Sarajevo Tobacco Factory(FDS)", 19.85 percent of "Bosnalijek" and 45.49 of "Sarajevo-insurance."
The remaining 22.12 percent equity in the "Energopetrol", and the majority package of shares from 51 percent in "Remontni Institute" from Travnik will also be offered.
APF ask the interested bidders to provide letter of intent including information about which enterprises that are interested and the manner and method of participation in the privatization. On the basis of all the information it receives, AFP will determine the dynamics, the method and other conditions of privatization of 12 companies.
2009-05-01
Bosnia opens for state owned banks
In a bid to fight rising interest rates the government of Bosnia adopted The Law on Deposit Insurance on 29th April 2009 practically allowing the establishment of state-owned banks.
Changes in the legislation, if accepted by the Bosnian Parliament, will allow the banks in which the state owns more then ten percent of shares to participate in deposit insurance, which will put them in equal position with the private banks.
Changes in the legislation, if accepted by the Bosnian Parliament, will allow the banks in which the state owns more then ten percent of shares to participate in deposit insurance, which will put them in equal position with the private banks.
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