Business Dialogue - CorD Magazine No.151

MAY BUSINESS LEADERS’ MEETING POINT

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DR ROB RISCH Director at the International School of Belgrade, ISB

ALEKSANDRA KESEROVIĆ Principal, British International School in Belgrade (BIS)

Passport For WellRespected Schools

The School Of Lifelong Learning Devotees

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RADOJKO JANIĆ Owner and Director, Radijator Inženjering

ALEKSANDAR MANDIĆ General Manager, UNIS USHA

High Recognition In The Right Hands

European Quality

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AUDUN FARBROT Head of Science Communication at Norwegian Business School BI

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Sharing The Knowledge: Changing People And Societies M AY

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CORPORATE

DR ROB RISCH, DIRECTOR AT THE INTERNATIONAL SCHOOL OF BELGRADE, ISB

Educated At ISB, Equipped For The World The International School of Belgrade offers its pupils, aged 3 to 18, an engaging and exciting educational environment, diversity and warm hospitality. With diplomas earned at ISB, pupils may choose to pursue their studies at any of numerous well-respected schools for grades 6-10, and Diploma Program (DP) for grades 11 and 12. Many international schools worldwide follow the IB programmes, and this allows pupils to ■ How do you ensure that children transfer between these schools with with different backgrounds fit into relative ease. The IB programmes focus your education system? on rigorous academics and blend these - Our assurance in this regard comes with holistic opportunities for students through three distinct channels: The to develop and blossom in performing first of these is our international and and visual arts, athletics and student internationally-minded teaching faculty leadership, and by providing service and staff. We are collectively very expeto their local and global communities. rienced regarding education systems The third factor that enables children from across the world, and our teachers from different backgrounds to fit into can individualise and differentiate their SB has been providing a high-qualour education system comes from the instruction to accommodate students ity education to the international diversity of the pupils themselves. We from various backgrounds and with community in Belgrade since 1948. have students of 43 different nationalidiffering levels of instructional English.

Thanks to its teachers – dedicated ties with no single dominant professionals who hold multiple group, so current students or master’s degrees in their Parents wanting to learn what areas of specialisation – ISB creopportunities ISB offers their children are accustomed to each other and to new students having ates an inspiring, pupil-centred can visit the school and talk to such varied backgrounds, and individualised approach teachers on 17th May, when ISB is which leads to them examinto the learning process. This ing and appreciating different month we spoke with ISB Direcholding its next “Open Day” event perspectives, developing an tor Dr Rob Risch about the opopen mind-set, celebrating their diverWe provide specific support in English portunities ISB offers its students. sity and learning from each other. and other areas where needed, and at the same time we are able to challenge ■ For which age groups does ISB pro■ What diploma can students obtain? and extend all students in their specific vide education?

Are your diplomas accepted by other areas of strength. The second factor - The International School of Belgrade schools? that enables children from different has educational programmes for - All students who graduate from ISB backgrounds to fit into our system is our children from the age of three to the obtain the ISB Diploma, which is equivacurriculum, which follows the guidelines age of 18. Our early childhood prolent to a high school diploma from an of the International Baccalaureate Orgagrammes for our youngest learners in academically-orientated high school in nization, specifically the Primary Years Pre-Kindergarten and Kindergarten are the U.S. This diploma by itself enables stuProgram (PYP) for Pre-Kindergarten to located on our Lower School Campus, dents to enrol in universities throughout grade 5, Middle Years Program (MYP) along with classes for students in grades 1-5. Students in grades 6-12 attend the nearby Upper School.

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■ What is the ISB Scholarship?

- The ISB Scholarship programme was initiated four years ago and provides a full scholarship that covers tuition costs and fees for one Serbian national student in each of our four high school grades – grades 9-12. In order to qualify for consideration of the scholarship – in addition to being Serbian – prospective pupils need to show a history of strong academic results from their previous Serbian schools; demonstrate their passion and involvement in extra-curricular activities, such as the arts, athletics, music, student leadership, service or charity events; possess an advanced level of English; and come from families who demonstrate a financial need. The applicants need to write a personal statement in English explaining why they would The vast majority of ISB graduates like to attend ISB and what obtain the IB Diploma, which universities they feel they can offer the view as a sign of success in a challenging school, as well as to obtain letters of support from their academic environment parents and teachers at their current schools, show success on our entrance tests and, if chosen, have a successful interview with our scholarship committee. The ISB Scholarship programme provides those candidates selected from among all applications the chance to attend ISB for grades 9-12, without costs, gain an amazing academic and holistic education, and graduate with both our ISB Diploma and the IB Diploma.

North America and many other parts of the world. However, the vast majority of our graduates also obtain the IB Diploma, which is accepted at universities worldwide. Universities view the IB Diploma as a sign of success in a challenging academic environment and know that these students are well prepared for universitylevel expectations. In fact, many of our students who earn high marks on final IB exams are given advanced-placement credit at universities.

■ How do you maintain the high quality of the education you provide?

- In addition to our own internal continuous review and revision of our programmes and practises, we also engage in authorisation reviews from the IBO and our accrediting agencies in Europe and North America. We are accredited by the Council of International Schools (CIS) and the New England Association of Schools and Colleges (NEASC). While the IB monitors curriculum and instruction, CIS and NEASC also examine our finances, facilities, governance and legal structures, and all other matters pertaining to high quality international education. By meeting or exceeding the standards and expectations that are explicitly listed and evaluated by visiting teams, and which are part of the re-authorisation and re-accreditation process, we provide assurances to all of our stakeholders that we continuously review, revise and improve our high standards.

■ What are the backgrounds of the ISB teachers like and which degrees do they hold?

- Our teachers come from a wide range of cultural backgrounds, with eleven different nationalities currently represented. The vast majority of our teachers are international educators with

internationally-obtained education and degrees, as well as previous experience working in other international schools.

We also have some highly-qualified Serbian nationals in key positions at our school, such as in teaching Serbian Mother Tongue classes. In addition, our teaching faculty is highly-educated, with

over 70% having obtained advanced degrees at the Master’s or Ph.D. levels.

Most importantly, they all subscribe to our Mission and Philosophy, through which we inspire, equip and empower our students to be active and enthusiastic participants in their own learning.

■ How can parents learn more about your programmes?

- ISB will be hosting an “Open Day” on 17th May for all interested parents. In addition, our school website - www.isb. rs - is very comprehensive and provides details and videos, including the viewpoints of our students themselves. ■ M AY

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EU ACCESSION

LOCAL

NEWS

“Despite of the difficulties it is facing, Serbia will be able to open two or three new chapters in its EU accession talks by the end of the year.”— JADRANKA JOKSIMOVIĆ, Serbian

Minister for European Integration

BANCA INTESA

VOJVOĐANSKA BANKA

Credit To Construct Ada Shopping Centre

Winner of “Global Custodian Magazine” Survey

Banca Intesa, in cooperation with PBZ Bank in Croatia and VUB Bank in Slovakia, and as a member of the Intesa Sanpaolo Group, has signed a binding offer with company GTC S.A. in the amount of €64 million for financing the construction of the Ada Shopping Centre in Belgrade, which represents GTC’s first investment in Serbia’s retail sector.

According to this year’s ‘Agent Bank in Frontier Markets” survey by U.S. publication “Global Custodian Magazine”, Vojvođanska Banka is the best bank in Serbia when it comes to providing custody services to foreign financial institutions, i.e. keeping and administering their securities.

TURKISH AIRLINES

New On-Board Options Feature

Banca Intesa CEO DRAGINJA ĐURIĆ

The Ada Shopping Centre will cover a total area of 34,400 square metres of modern retail space, designed and constructed in accordance with the highest international standards.

“In cooperation with other members of our parent group, Intesa Sanpaolo, we are supporting the implementation of another significant foreign investment in Serbia that will help to create jobs, in addition to offering our citizens additional contents,” said Banca Intesa CEO Draginja Đurić.

“The Ada Shopping Centre is conceived in such a way that it offers visitors a unique shopping experience in Belgrade,” said GTC CEO Thomas Kurzmann.

Turkish Airlines is taking its in-flight experience even further. With passenger satisfaction as the airline’s priority, the carrier’s wide on-board selection continues to be broadened in an effort to reach the widest range of passengers’ requests.

Now yet another innovation has been developed by Turkish Airlines to enable in order its business class passengers to enjoy the best Turkish hospitality, within the concept of privileged travel. The Living Garden concept, including new cosmetics consisting of hand lotion, hand soap and room freshener branded with Molton Brown –a brand identified with refreshment, naturalness and luxury – are presented on specially designed wooden stands with live plants in business class bathrooms.

The flowers and green plants placed in the lavatories within the scope of the project make passengers feel as though they are in a flower garden above the sky.

SREMSKA MLEKARA

Major Shareholder of Tobacco Industries Bujanovac Sremska Mlekara has purchased 57.93% of the capital of Duvanska Industrija Bujanovac (DIB) for €686,374, with the idea of reviving DIB and relaunching cigarette production in Serbia’s southernmost region.

Sremska Mlekara signed the purchase agreement on 13th April, offering only €20 above the starting price, as defined by the Ministry of Economy.

According to the Business Registers Agency, 100% of the capital of Sremska Mlekara is owned by RA.B Capital Group LTD, a company registered in Cyprus.

The current director, Rade Basta, said that he had nothing to do with the Cyprus-based companyandthatSremskaMlekara also planned to privatise Dunavska Industrija Ljubovija.

DIB currently employs 100 people, while agriculturists from the area might hope to find work producing tobacco for DIB.

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“Global Custodian Magazine” is a leading world magazine in monitoring operations with securities around the world. This prestigious recognition has been awarded to Vojvođanska Banka for the fifth consecutive year, based on the positive evaluations of foreign clients who declared it the best in all segments and all countries where the survey was conducted.

“We received the highest scores and achieved the best results in these countries. We shall continue the policy of being the most efficient as keeping and administering securities,” said Xenofon Damaskos, member of the Executive Board of Vojvođanska Banka.

DELTA HOLDING

National CSR Award Serbia’s Chamber of Commerce has granted the National Award for socially responsible business to Delta Holding.

The company received the award in the category of large companies after the judges analysed all areas of social responsibility: product quality, employee care, attitude towards business partners, environmental protection and support to the social community. As an illustration for the last segment, Delta Holding presented two projects for sustainable agricultural development: Plantation for Future, which helps the development of social entrepreneurship in agriculture, and Fund for Future, which educates future agricultural experts.

The awards were granted by judges who included representatives of the Ministry of the Economy, the Ministry of Labour and Social Affairs, the Ministry of Agriculture, non-governmental organisations, the Ambassador for Sustainable Development and Olivera Kovačević, Public Service Editor at Radio-Television Serbia.

IMF “One thing is certain, the IMF provides Serbia with funds that go to support its balance of payments. Fortunately, these funds are not needed.” — DUŠAN VUJOVIĆ, Serbian Finance Minister

Placements & postings appointments@aim.rs

H.E. SYED ADIL GILANI

New Ambassador of the Islamic Republic of Pakistan

H.E. Syed Adil Gilani (72) graduated in N.E.D. Engineering from the University of Karachi.

A civil engineer by profession, he has amassed 51 years of experience in Pakistan and Nigeria in the public/private sector, the Government of Sindh 1966-1970, North Estate of Nigeria 1970-1975, Gammon Pakistan Ltd, 1979-1989, Karachi Port Trust Government of Pakistan 1989-2000, and, since 2000, project management and advisory services. He was also a member and Port Consultant of the Sub-Working Group on Ports & Shipping of the Government of Pakistan for 2005-2010 Five-Year Plan.

Ambassador Gilani has served as anti-corruption expert and led various projects and regulations in the Pakistani government. He arrives in Serbia from the position of Prime Minister’s Inspection Commission Consultant.

ALEKSANDRA ERDOGLIJA

President of the Executive Board of JUBANKA JSC Aleksandra Erdoglija, a graduate of the University of Belgrade’s Faculty of Economics, takes on the position of President of the Executive Board of Jubanka JSC after having spent more than six years as a Member of the Executive Board of Alpha Bank Serbia JSC. Erdoglija began her career at Jubanka in June 1998, within the Section for the collection of funds and relations with banks. In August 2002 she was promoted to the leading position in the Treasury Division, where she was responsible for management and control of the bank’s structural risks, as well as for the control of the Department of Investment Banking. In June 2010 she continued her career as Member of the Executive Board of Alpha Bank responsible for the development and control of operations of the Treasury Division, Investment Banking Department, Legal Services Department and NPL Division.

A member of numerous professional associations, Erdoglija is Deputy Chair of the Supervisory Board of the Association of Serbian Banks.

NIKOLA VULETIĆ

New member of the Executive Board of UniCredit Bank

SANDRA VOJNOVIĆ

New member of the Executive Board of UniCredit Bank

The Executive Board of UniCredit Bank Serbia has been expanded with the inclusion of two new members, Sandra Vojnović, responsible for the Strategy and Finance Division, and Nikola Vuletić, responsible for the Retail Banking Division.

Sandra Vojnović graduated in financial management at the Faculty of Economics of the University of Banja Luka and began her banking career in 2004 as an analyst of the creditworthiness of clients from the Retail Division, only to continue her work in 2005 on USAID’s TAMP project, directed towards the reform of the tax system in Republika Srpska. She joined UniCredit Bank in Banja Luka in 2006, where she was employed within the Department for Planning and Control. She was appointed director of this department in 2008, then, in 2013, she was promoted to the position of Director of the Financial Department.

Nikola Vuletić graduated in international management at the Faculty of Economics of the University of Belgrade and began his professional career in 2003 in UniCredit Bank, or at the then EXIMBANK, where he held the position of contributor for business with the retail sector and small businesses. The following year saw him take on the same position within the Department of Corporate Banking, while following the merger of HVB Bank and Eximbank he assumed the position of financial analyst. He continued his career in the Department for business with large and international companies, and in 2007 was promoted to the position of director of the Department for business with medium-sized enterprises.

After two years, he was appointed Director of Commercial Affairs within the Retail Division, then, in 2012, he became director of the Retail Division.

NENAD MIŠČEVIĆ

New commercial director at PepsiCo Western Balkans PepsiCo has appointed Nenad Miščević to the position of Commercial Director for the Western Balkans (Serbia and Bosnia-Herzegovina). Miščević assumes this position after serving as Manager of Sales Strategy, New Business Development and Trade Marketing Manager at retail outlets at PepsiCo Western Balkans. His appointment means that the company is now managed by a local staff member for the first time since PepsiCo entered the market of the Western Balkans in 2008.

He has amassed more than seven years’ experience in various commercial positions on the markets of Serbia and Bosnia-Herzegovina, and has achieved significant results in setting high standards in sales and introducing innovation, with which he personally contributed to the business unit of PepsiCo Western Balkans gaining IS&OP platinum certification in 2016. Miščević graduated from the University of Belgrade’s Faculty of Economics.

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CORPORATE ALEKSANDRA KESEROVIĆ, PRINCIPAL, BRITISH INTERNATIONAL SCHOOL IN BELGRADE (BIS)

The School Of Lifelong Learning Devotees Over the past 20 years the British International School in Belgrade (BIS) has seen continual development, based on the motto “Success Comes to He Who Works”

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ritish International School is a regular member of the European Council of international Schools (ECIS), and a member of the Council of international Schools (COBIS). It is also recognised by both UK and Serbian educational ministries, and is an operator for the International Award for Young People (Duke of Edinburgh Award), which was established

by HRH Prince Phillip.

■ This year marks a significant anniversary of two decade since the establishment of the school in Serbia. What are the significant benchmarks that contributed to the development of the school?

- British International School’s development is reflected in an up-to-date approach to new trends in teaching and learning, which included provision of the latest teaching resources and expansion of our information technology facilities. This has resulted in steady growth of student numbers year after year and, consequently, in the expansion of our school facilities. BIS is recognised by various external educational authorities which serve as a benchmark in our operation, proving the quality of education that we stand for.

■ Much has changed in the meantime.

Which standards provide the basis for the work of the British International School today?

- The motto of our school is expressed in the Latin sentence: “Meret Qui Laborat” (Success Comes to He Who Works).

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We believe in the ability of our teachers to instil the love of lifelong learning in our students. Each student is encouraged to use and develop their critical thinking, problem solving and enquiry skills in an interactive process of teaching and learning in class. We believe that a student can become a lifelong learner only if they take ownership of their learning. We are proud of our alumni, who live and work throughout the world, and who have succeeded in their careers as doctors, lawyers, engineers, managers etc.

We believe in a holistic approach to education which implies that a student should develop not only their intellectual, but also their social, emotional and physical skills

■ During the teaching of your regular classes, you also insist on developing your students’ social and ethical values.

How do you manage to achieve this?

- We believe in a holistic approach to education which implies that a student should develop not only their intellectual, but also their social, emotional and physical skills.

This is accomplished through many extracurricular activities, such as drama, chess, pottery, music, national dances, ballet, karate, capoeira, swimming and team sports.

■ This year you are once again organising your traditional charity event. What are the main activities?

- Each year the school organises a Spring Charity Bazaar in May with a particularly chosen purpose to support a charitable cause within the local community. The BIS Spring Bazaars represent an opportunity for our whole school community (parents, students and teachers) to come together in supporting those in need. The participants include many embassies and companies, representatives of our Parent-Teacher Friends organization (PTF), as well as representatives of our Student Council. Colourful stalls spread across the school yard feature various national cuisines and national souvenirs. There is also a stage programme which, besides singing and dancing, includes a fashion show of national costumes from different countries.

I am taking this opportunity to invite all who wish to join us at this year’s BIS Spring Charity Bazaar to visit our primary campus at Užička Street 7a on 20th May. We look forward to hosting all the visitors who are keen to support us in collecting proceeds to buy beds and mattresses for mentally disabled young individuals living in the hospice in Sremčica. ■

Kobbler is a luxury footwear and accessories store, positioned in the pedestrian zone of Belgrade’s downtown. Kobbler’s team is formed out of passionate shoe lovers, brought together by a single vision – to introduce top quality footwear and accessories within a concept store.

Kobbler is the only shoe store in the region to carry legendary English handcrafted shoe brands such as Church’s, Tricker’s, Cheaney and Grenson, as well as premium quality shoe brands from Spain such as Magnanni and Berwick 1707.

Starting from the spring summer season of 2017, Kobbler is expanding its retail presence by introducing designer footwear for women from the likes of LK Bennett London, Aquatalia, Penelope Chilvers, Church’s, and Grenson. Kobbler is also the only place in town to offer stylishly handmade sneakers for both women and men from the likes of Filling Pieces.

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REGIONAL

NEWS

ENLARGEMENT “I think the enlargement question is, especially in the Western Balkans, an important question, but it has now become in a fraying international order a second order question.”— THOMAS KLEINE-BROCKOFF, Executive Director of the Berlin Office of the German Marshall Fund

CROATIA

ROMANIA

Seven Cities To Receive €345 mln From EU

Ford Employs 1,000 People

An agreement on conducting delegated activities, signed at government headquarters on Thursday, will provide Croatia’s seven largest cities with a total of €345 million from three EU funds.

BOSNIA AND HERZEGOVINA

American car maker Ford has kicked off a massive recruitment campaign in Romania. The company will create 976 new jobs at its plant in Craiova, southern Romania, where it manufacturers the Bmax model and the engine 1.0 EcoBoost.

Bingo Bought Dita Tuzla The agreement relates to the implementation of the Integrated Territorial Investments (ITI) mechanism and is part of the Competitiveness and Cohesion operational programme. Its signing is the first step toward decentralising the system for the management and control of the use of the European Social Fund, European Regional Development Fund and Cohesion Funds, with a part of these functions being delegated to the city level.

The purpose of the ITI mechanism is the urbanisation of less developed areas surrounding these cities and implementation of projects in those cities aimed at strengthening their economic development. The agreements were signed with the mayors of Osijek, Pula, Rijeka, Slavonski Brod, Zadar and Zagreb and the government’s commissioner for Split.

The sale Factory Dita from Tuzla was carried out by the system of free contract, and the committee of creditors’ of Dita, which is in bankruptcy, made a decision that was accepted by the Municipal Court in Tuzla.

“The committee of creditors’ accepted the offer of the company Bingo Ltd., current retail market leader in BiH, in the amount of 7,673,000 BAM ( €3.8 mln). With this purchase, Bingo promised to keep all 75 workers who are currently working in the factory and to continue with the production,” said Almir Bajric, Head of the Economic and Financial Service of Dita.

With the money from the sale, the full length of working experience of workers in Dita will be counted, confirmed Bajric, including those who are currently working, as well as those who are no longer working in this factory of detergents.

BULGARIA

BAT’s Further Investment British American Tobacco (BAT) announced that it has sign contracts for the purchasing of leading tobacco brands from Bulgartabak.

Bulgartabac’s Banja Luka-based tobacco factory, however, will remain property of the Bulgarian company. The value of the deal is over €100 million and reflects Bulgaria’s growing reputation as a country preferred by foreign investors. This is the biggest investment in this country for the current year.

BAT-Bulgaria is to become one of the five biggest tax payers in Bulgaria, immediately opening over 100 new job positions in production and another 1,000 in the sphere of distributions.

The company will make in Craiova the small-SUV model EcoSport, which required additional investments of €200 million.

In total, Ford has invested €1.2 billion in its Romanian plant.

At present, Ford has 2,715 employees at its manufacturing unit in Craiova.

Ford will manufacture in Craiova the new generation of the EcoSport model that will be distributed in Europe.

HUNGARY

First Direct Freight Train From China Arrives In Budapest The first direct freight train between China and Hungary arrived in Budapest, carrying more than $1 million worth of clothing, electronics, toys and steel. The 650-metres long train, carrying 41 shipping containers, travelled more than 10,000 kilometres over 17 days, passing through Kazakhstan, Russia, Belarus, Poland and Slovakia before arriving at Mahart Container Center terminal in the Port of Budapest. The head of Mahart Container Center and Ekol Hungary, which organised the delivery, marked the arrival of the train together with China’s ambassador to Hungary Jielong Duan and deputy state secretary for customs and international affairs Tamás Molnár.

Preparations are underway to upgrade the rail line between Budapest and Belgrade. The stretch is to become part of a transport corridor for Chinese goods bound for Europe.

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DIVISIONS “Balkan countries must implement reforms and work to overcome age-old divisions if they want to join the European Union.”— SIGMAR GABRIEL, Germany’s foreign minister MACEDONIA

IMF Predicts Economy To Grow By 3.2% in 2017

ALBANIA

NPL Decreased By €295 Million Albania’s banking system has removed around 12.6 billion lek (€93.3mln) in nonperforming loans from banks’ balance sheets in 2016.

Central Bank data show that the process of cleaning banks’ balance sheets from lost loans over the past three years also continued during the past year, contributing to the improvement of credit quality and further reduction of the non-performing loans ratio. According to the Bank of Albania, the non-performing loans write-off from balance sheets over past two years is estimated at around 40 billion lek, or €295 million. Despite the process of cleaning the Albanian banking system’s balance sheets, the overall NPL ratio still remains high, at around 18%.

The International Monetary Fund (IMF) estimates that the Macedonian economy will grow by 3,2 per cent in 2017 and 3,4 per cent in 2018.

In its latest spring meeting review, it estimated that the Macedonian economy will grow by 3.8 per cent by 2020.

Albania will reach the highest level of growth in the region with 3,7 per cent, Kosovo’s GDP growth will reach 3,5, Montenegro 3,3 per cent, Serbia and Bosnia will grow three per cent, while EU members Bulgaria and Croatia will have 2.9% growth. The results will be similar by 2022.

Earlier in April, the World Bank estimated a growth rate of 2,8 per cent for Macedonia in 2017 and 3,3 per cent in 2018. Globally, the world economy is projected to grow by 3,5 per cent in 2017 and 3,6 per cent in 2018.

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CORPORATE RADOJKO JANIĆ, OWNER AND DIRECTOR, RADIJATOR INŽENJERING

High Recognition In The Right Hands The best entrepreneur in 2016, Radojko Janić, will represent Serbia in Monte Carlo and compete to win a new award

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he owner of the former “Radijator” craft workshop, which handled the installation and maintenance of central heating, is today the holder of the prestigious world award “Entrepreneur of the Year 2016”, which he was awarded by world famous company “Ernst & Young”. The award arrived in his hands thanks to the fact that over the course of 26 years he turned that craft workshop into a company producing a wide range of boilers, employing close to 400 employees and operating on the European market.

■ You are the best entrepreneur in 2016, and you received that recognition from world-renowned company Ernst & Young. What was the decisive factor in you receiving such a highly valued award?

- First of all, my receiving this esteemed recognition was influenced by many years of successful business, export orientation and product quality. It represents confirmation of a successful business policy, planned investments in the latest equipment and timely 36 |

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responses to market demands in terms of the modernisation of existing products and the construction of new ones.

of doing business. I particularly want to present a wide range of our products that work on pellets and biomass.

■ As the best entrepreneur in 2016 you will get the chance to represent Serbia in Monte Carlo and compete for the best possible ranking. Have you started preparing for that event; what do you intend to say to others and which of your products in particular do you intend to present?

- Preparations are underway, because my aim is to present my company and my country in the best possible way. My aim is to destroy the prejudices that still exist in Europe, and which we unfortunately still face in dealing with many European companies, when it comes to doing business with companies from Serbia. I would like to tell them that in Serbia there are many successful and serious companies that can respond to high business standards, in terms of quality and respect for agreed deadlines and other conditions

■ Your company has existed for 26 years and employs around 400 workers. According to your assessment, what is the economic environment for doing business like and does the state pay attention to companies that are doing well?

- My company has existed for 26 years and we have nearly 400 employees, with a tendency for further growth. I consider that the economic environment could be better and that the state should use some stimulating measures to contribute to the further development of successful companies, but also to assist companies that currently have difficulties with their operations. Under stimulating measures I’m implying reductions in taxes and contributions on earnings with the aim of creating new jobs, providing incentive credits from state funds for procuring equipment and other factors.

The state should use some stimulating measures to contribute to the further development of successful companies, but also to assist companies that have difficulties. Those measures should be expressed through reductions in taxes and contributions on earnings, in order to create new jobs, but also by providing incentive credits from state funds for procuring equipment

■ You have a wide range of products when it comes to boilers and water tanks, and you are known throughout the region. What is your recipe for success, considering that you started modestly and ended up receiving acclaimed world recognition?

- My recipe for success lies in persistence and timely responses to market demands. No single success comes overnight and it is very important to estimate market demands well, as well as to monitor all modern trends when it comes to your chosen domain. The motto our company is “Quality without compromise”, and I consider continuously improving one’s own production processes as being necessary for success. ■

CORPORATE ALEKSANDAR MANDIĆ, GENERAL MANAGER, UNIS USHA

European Quality Our steel wire ropes and connectors are well known for their quality all over the region and in our new facility we will be drawing wire

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uality has been the most important word for the UNIS USHA Company ever since it was established. The factory has already produced steel wire ropes and slings for 35 years and regional buyers look first to this manufacturer for them. The company also takes pride in its accredited laboratory for mechanical and chemical testing, boasting state-of-the-art equipment, certified by Lloyd’s Register Quality Assurance, a London certification body.

■ You are the regional leader in manufacturing stainless steel cable. To which markets do you intend to expand?

- Our factory’s products are found on the markets of Serbia, B-H, Montenegro and, to a lesser extent, Macedonia and Croatia. Our future goal is to increase our presence on the Croatian and Macedonian markets, but we are also negotiating with some Austrian and Slovenian companies with regard to entering their markets.

■ For which products can you do quality testing in your laboratory?

- UNIS-USHA A.D. Višegrad has a laboratory accredited by BiH (BATA). We are certified for mechanical testing of metallic materials according to BAS EN ISO/ IEC 17025:2006 standards.

As our accrediting institute is a member of the European Federation of Associations of Accreditation Bodies, our certificate is recognised all over Europe. Besides our own products, we are engaged to test and certify products for third parties.

We are able to carry out mechanical testing of wire, all kinds of steel wire ropes, and slings.

The UNIS USHA Company boasts many certificates, including some issued by the most distinguished certification bodies, such as Lloyd’s Register Quality Assurance of London, BATA Institute, SGS Group for global inspection, verification, testing and certification, TUV SUD Management Service GmbH, etc.

■ What quality standards and certifications do you have?

- The London certification body Lloyd’s Register Quality Assurance has issued us the following certificates: Certificate for quality management

system standards BS ISO 9001:2008, BAS ISO 9001:2009 (pdf, 589 kb) Product certificate (pdf, 253 kb) Certificate for environmental management system (pdf, 384 kb) The Bosnia and Herzegovina Accreditation Institute (BATA) has issued us the following certificates: Accreditation for the mechanical testing of metallic substances according to standards BAS EN ISO/IEC 17025:2006 (pdf, 698 kd) The SGS Group, the world’s leading inspection, verification, testing and certification company, has issued us the following certificates: Product certificate according to standard ISO 10245:2003 (E) TÜV SÜD Management Service GmbH has issued us the following certificates: Certificate for results of the technical file (TF) (steel wire ropes 46mm, steel wire ropes and slings up to 46mm) (pdf, 356kb).

■ Will you develop new products as customers or the market demand?

- Our long-term business strategy involves continuous efforts to expand and innovate our present product range according to market demand and requirements.

We would also particularly like to draw attention to our completely novel plant for producing and drawing wire which, in addition to providing us with the intermediate material as required, will enable us to enter a completely new market. ■ M AY

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WORLD

NEWS

NORTH KOREA “North Korea is looking for trouble. If China decides to help, that would be great. If not, we will solve the problem without them!”— DONALD TRUMP, U.S. President CHINA

US/JAPAN

Airport Building Spree The Xinjiang region plans to spend 14.4 billion yuan (US$2.1 billion) on the construction or expansion of 17 airports this year in an effort to enhance the region’s role as a transport terminal linking China with Central Asia.

Fourteen are transport airports located in Urumqi, Kashgar, Aksu, Yining, Korla and Altay, as well as some counties including Zhaosu, Yutian and Shache. The other three are general airports. Shache Airport will be the first to be completed this year. It will be the 19th transport airport in Xinjiang. Urumqi International Airport will add two runways and a new terminal building covering 450,000 square metres, with its annual passenger and cargo throughput rising to 48 million people and 550,000 tonnes respectively.

Japan, U.S. To Set Joint Rule On Customer Info The Japanese and U.S. governments plan to establish a common rule on the management and utilisation of customer information INDIA

Gazprom To Help Ensure Indian Energy Security India is the world’s fourth largest consumer of liquefied natural gas (LNG). According to Gazprom CEO Alexey Miller, India’s demand for imported gas is steadily increasing. By 2020, the demand will rise threefold, while by 2030 demand is expected to rise sixfold. Domestic gas production in India is expected to rise to 146.87 million metric standard cubic metres per day in 2018-19, but this will only be sufficient to cover 30 per cent of India’s demand.

Russian gas giant Gazprom will begin supplying 2.5 million metric tonnes (mt) of LNG annually to India from 2018. Gazprom’s subsidiary, Gazprom Marketing & Trading Singapore, supplier, while Indian state oil and gas company Gas Authority of India Ltd (GAIL) will be the recipient.

LNG supplies to India can be made from a plant in Sakhalin, as well as from the new Yamal LNG plant. The first phase of the Yamal LNG project will be launched in 2017.

UK

One In Five Businesses Has Suffered A Cyberattack The British Chambers of Commerce (BCC) has called for all organisations to improve their cyebrsecurity provisions after revealing that one in five businesses in the UK has been the victim of an attack within the last year. A BCC survey found that big businesses are far more likely to be hit, with 42 per cent of firms with more than 100 staff falling foul of cyber criminals, compared to 18 per cent for those with less than 99 employees.

Businesses are predominantly relying on IT providers (63 per cent) to resolve issues after an attack, compared to banks and financial institutions (12 per cent) or police and law enforcement (2 per cent).

Worryingly, 21 per cent of businesses in the UK believe the threat of cybercrime is preventing their company from growing. But, despite the threat, just 24 per cent of businesses have cyber security accreditations in place.

U.S. President DONALD TRUMP and Japanese Prime Minister SHINZO ABE

that Japanese and U.S. companies obtain in either country, aiming to make it easier for businesses to use the information in their sales strategies, according to sources. Each country has different regulations regarding the use of customer information, and companies are required to go through complicated procedures.Therefore,bothgovernmentswill establish a common rule, the sources said.

GERMANY

Siemens, Bombardier Negotiation On Uniting Rail Operations Talks about uniting the rail operations of Germany’s Siemens and Canada’s Bombardier are being complicated by the desire of both companiestokeepcontrolofamergedbusiness.

Antitrust issues and political considerations could also ultimately make a deal to create a company with combined sales of $16 billion hard to pull off, industry experts said.

SWITZERLAND

Credit Suisse Cuts Exec Bonuses

Credit Suisse chief TIDJANE THIAM

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Credit Suisse’s chief and other top executives offered to have their bonuses slashed by 40 per cent, following investor concern over the size of their proposed compensation packages.

Credit Suisse chief Tidjane Thiam and the bank’s executive board proposed that the “long-term incentive awards for 2017 and short-term incentive awards for 2016 ... be reduced by 40 per cent each,” according to a statement. The board of directors would also leave its compensation unchanged at the same level as 2015 and 2016, and would not accept a proposed incremental increase.

“My highest priority is to see through the turnaround of Credit Suisse which is under way,” Thiam said in a letter to shareholders.

The two groups are talking about a joint venture that could compete better with Chinese state-backed market leader CRRC, which is expanding aggressively abroad and would still be twice their combined size by revenue.

A Bombardier-Siemens combination could run into anti-trust issues, as it did last time it surfaced, with significant overlap particularly in Germany. But in a global context the arrival of CRRC has changed the shape of the industry and Europe could be interested in creating a strong competitor to the emerging Chinese challenge.

COMMUNICATION “China advocates to resolve the issue through peaceful means, and is willing to maintain communication and coordination with the U.S. on the Korean Peninsula issue.” — XI JINPING, Chinese President BELGIUM

Lloyd’s Move Its European Hub To Brussels Insurance and financial services firm Lloyd’s of London has chosen Brussels as its European hub.

Lloyd’s is one of the first financial services firms to announce this type of move. Lloyd’s has always been very clear about the need for an EU subsidiary if Britain has no access to the single market after leaving the EU. The announcement comes just one day after Britain triggered Article 50 of the EU’s Lisbon’s Treaty, to start the divorce with Europe, the beginning a difficult two-year process.

Lloyd’s is a firm with a long tradition in Britain. It centres on specialist insurance and reinsurance of a whole range of things, from oil rigs to athletes’ legs.

It is not clear how many jobs this will bring to Brussels, but Reuters quoted Chairman John Nelson as saying that the Brussels subsidiary would employ dozens of staff - in areas such as compliance and information technology - unlike banks which have said they may move hundreds of staff to the EU.

FRANCE

Paris The 2nd Largest Hub For Innovation Companies The Financial Times, in partnership with Statista, has published the very first “FT 1000”, a list of European companies achieving the highest percentage growth in revenues between 2012 and 2015.

No fewer than 45 of the companies on the list are based in Paris, making the French capital the second largest hub for innovation and commerce in the EU after London (78), followed by Milan (34) and Berlin (32).

Management consulting firm Theano Advisors is the highest French company in the ranking (8th), with a compound annual growth rate of 288%. Comme j’aime, specialising in nutritionally balanced dishes, took 37th place, while universal SIM card connectivity solution provider Matooma came in 51st. In all, there are a total of 13 French companies in the top 100, including Adxperience, Bébé Boutik, Lemonway and Madgik.

France is ranked first in Europe for the number of fastest growing companies in the technology sector, with 45 companies, ahead of the United Kingdom (42), Germany (30), Italy (17) and Spain (6).

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CORPORATE

AUDUN FARBROT, HEAD OF SCIENCE COMMUNICATION AT NORWEGIAN BUSINESS SCHOOL BI

Sharing The Knowledge: Changing People And Societies Audun Farbrot is the author of two books on science communication and Head of Science Communication at Scandinavia’s leading business school, the second largest such school in Europe. He works every day on sharing knowledge and changing communities for the better step by step

■ There must be some challenges as hen writing a text, whether and experts succeeding in sharing and comwell - what are they and how do you municating their knowledge to new audia memo, an article or a book, deal with them? ences, either through the media or directly it is all about the words, - I believe challenges really are core elements to practitioners in business life or public phrases and sentences. of meaningful jobs. In a nutshell, my work organisations. I invite knowledge workYou can’t hide your message and thoughts consists of making people do things they ers to challenge and expand their comfort behind a great look, charming smile, eye didn’t even think they were up to, with few zones and train them to be more effective contact with your audience, funny stories or or no direct incentives to do so, and with appealing body language. So you really absolutely no time available to do that. have to work hard on presenting your The best moments in my work Sounds like mission impossible, right? ideas, thoughts and perspectives in an What I can offer is personal advice to inare undoubtedly when I crease the chances of succeeding in geteffective language. experience young, talented ting an article published in the media, for researchers and experts example. In many ways, you might say, I ■ You work on helping scientists and am a communication coach or personal researchers share and communicate succeeding in sharing and trainer in public communication. It is fair their knowledge with the world, so that communicating their say that some professors at universisocieties benefit from science-based knowledge to new audiences to ties and research institutions behave like findings and research, the general communicators. Seeing them getting out prima donna’s, in many different ways. But public becomes more interested in science of their ivory towers and sparkling in the they are also humans, who flourish when and fellow scientists get more excited, connected and creative. What an interesting public limelight gives me a strong feeling other people show interest in their work. job! What are some of the best moments or of meaning. It also make me happy to see That mechanism makes mission impossible experiences regarding your work? examples of value creation in society as a actually possible, after all.

- You are absolutely right; this really is a result of public communication of researchfantastic job, simply a dream job. When ■ Your second book, Social media for scibased insights and knowledge. I believe entists, PR consultants and experts, has I wake up in the morning I am looking strongly that science communication is a been translated and published in Serbia. forward to contributing to changing the powerful tool leading to better decisions Both Serbian and Norwegian could be world, at least a little, every day. The best among politicians and business leaders, called “small” languages when it comes moments in my work are undoubtedly when smarter ways of doing things and new to the number of people who speak them.

I experience young, talented researchers products and services.

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Is it important for science communication and knowledge sharing to try and use “smaller” languages more?

- Language is not only a practical tool for written and verbal communication, but is also a bearer of culture, history and national identity. On the other hand, I believe that sharing science and research-based knowledge across national borders is the best way to create a better world and a better future for our children. My answer to this might be slightly inspired by Winnie the Pooh confronted with the question “Honey or condensed milk with your bread?” I think we should communicate knowledge both in our “small” national languages and in English, which holds the position as the international language of Science and Research, whether we like it or not.

■ Was this the first translation of your book? How did it feel?

Where you excited, surprised… when you heard the news?

- I had already been thinking about translating my book into a foreign language, but I have to admit that Serbia was not the first country I was thinking about.

So, I was surprised and delighted when my publisher told me they had been contacted by Belgrade-based publishing house Kovačnica priča. This is the first translation of my second book.

And now that the book has materialised and is published, I think it is really cool.

■ Speaking of the book, we can say that the idea of sharing knowledge through social media is relevant, useful and inspiring. But scientists, researchers and different experts are usually already (too) busy with multiple projects and duties.

Why should they use their time for social media as well? How do you motivate them to do so at BI Norwegian Business School, where you’re in charge of science communication?

- It is not enough to tell them why they should consider sharing knowledge via social media, rather you also have to demonstrate the effects and possible advantages

of doing so. In addition, it’s important to help them getting started.

Here are some of the benefits I demonstrate through practical examples and evidence from research on science communication.

Experts who use social media in communicating knowledge increase the probability of being found in the way she or he wants to be found – for their professional expertise.

By sharing knowledge you also strengthen your academic recognition, and contribute to

Content is king, even in Social Media. The key to success is regularly sharing knowledge and insights of interest, relevance and value for your readers increased value creation for society.

Thus, Social Media can be much more than media and communications channels.

To paraphrase William Shakespeare: “To be found or not to be found” online matters.

■ Is there any special advice, tips or inspiration you would share with a scientist wanting to try to communicate their knowledge through social media?

- Content is king, even in Social Media.

The key to success is regularly sharing knowledge and insights of interest, relevance and value for your readers. You need a website for publishing content, for example a web page, blog or home page.

This is your knowledge hub. In addition,

you should consider using one or two services for sharing this content, for example LinkedIN, Twitter or Facebook. And you really have to listen to the conversations of other people on social networks. That’s an inherent part of being social and really communicating with people.

■ During your studies at BI Norwegian Business School, you were on exchange at ESCP Europe in Paris. As someone who works in an international environment at the second largest business school in Europe, It’s a safe bet to say that you deal with intercultural communication a lot as well. Are there significant cultural differences in the ways we communicate?

- The most important factor in communication, whether in a local or an international context, is to know your audience. Every audience is unique and different from every other audience.

There are cultural differences between people from different parts of Norway and these differences may in some cases be larger than the differences between Norwegians and, for example, Danes or Swedes. To overcome cultural differences you really have to be willing to be open and learn as much about the people you are to communicate with, and be able to adapt your communication accordingly.

■ What are some of the main things to remember when communicating with Norwegians - whether that is business, science or general communication?

- Norwegians might appear shy and distant until you get to know them. They are not world masters in phrases of politeness; they tend to be very direct in their communication. Norwegians believe in equality, living in a social democracy with relatively small power distances. Gender equality is also important. The typical Norwegian is future-orientated and enjoys planning their activities, both at work and in their leisure time. Norwegians score relatively high on people-orientation and like working in teams and groups. ■ M AY

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By BJARKE SMITH-MEYER

ECONOMY

Greek Bailout Package Moves Forward The Greek government took a step closer to securing its next disbursement of bailout cash after it reached an interim deal on the latest round of reform commitments for its €86 billion bailout program

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“policy” agreement on “the size, timing and sequencing of the reforms” was announced announced following the recent Eurogroup meeting of eurozone finance ministers in Malta.

The deal allows officials from the EU institutions and the International Monetary Fund to travel back to Athens “as soon as possible” to iron out the technical details and conclude the so-called “second review” of the rescue package.

Greece and its creditors had been at loggerheads for months to move the bailout package forward, and all parties welcomed the announcement which — for now — allays fears of a repeat of a Greek-triggered eurozone-wide crisis in the summer of 2015.

Time is running out for the Greeks, who face a €7 billion bill in maturing government debt and interest payments in July. Without the next disbursement of bailout cash, Greece may not have sufficient funds to pay its dues.

“The Greek economy in the first half of last year was picking up, and that momentum is slipping away from us,” Eurogroup President Jeroen Dijsselbloem said. “So we really need to work fast and have [the second review] done well in time for the next payment that Greece needs to make the disburse42 |

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ments that are needed for that.”

But many more steps remain before all stakeholders can announce a political deal on the review, which is a vital precursor for IMF participation that countries like Germany and the Netherlands are insisting on.

Nonetheless, the latest breakthrough has officials eyeing a formal agreement by 22nd May, when eurozone finance ministers gather for their next Eurogroup meeting in Brussels.

To complete the final agreement, Greece’s creditors will have to discuss with the IMF what is meant by “medium-term” in relation to the budget surplus target As part of the agreed-upon policy deal, the Greek government will soon write into law intended cuts to its pension and tax policies to secure its budget surplus target of 3.5 per cent of GDP and maintain it for the “medium term,” once the bailout programme ends in mid-2018. Pension cuts are expected to take place in 2019, while changes to Greece’s tax policies should come into effect in 2020.

In return, the Hellenic government will be able to prepare growth-spurring initiatives, which can be introduced

with any extra cash that Greece collects in the event that it overshoots the 3.5 per cent budget surplus target.

Greek Finance Minister Euclid Tsakalotos hailed the “substantial agreement” even though it involved “more delays than I’d like to have seen,” adding that “all parties must take some share of the responsibility for that delay.”

To complete the final agreement, Greece’s creditors will have to discuss with the IMF what is meant by “medium-term” in relation to the budget surplus target.

Once that’s agreed, an economic forecast for Greece must be made and potential debt-reducing measures crafted before the IMF can conduct its debt-sustainability analysis.

Then, IMF staff will present their conclusions to its board in Washington, which has the ultimate say on whether the Fund should participate in the current Greek bailout package, or walk away.

Only then can Greece’s creditors agree on a disbursement figure that will allow Athens to meet its debt payment in July.

“We need a deal very quickly,” Tsakalotos said. “There are very few actors, if any at all, that want another Greek crisis.” ■