32 minute read
BUSINESS DIALOGUE
Leaders’
MEETING POINT
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JOHN PEARSON, CEO of DHL Express
PAGE /28 NIKOS ZOIS,
Managing Director, HEINEKEN Srbija
Safety Comes First!
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SERBIAN EXPORTS & TECHNOLOGICAL CHANGE
Clear & Unequivocal Change For The Better
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For many years now, DHL has invested in defining and communicating our ‘purpose’ as a company. It was some 10 years ago that we coined our own mantra: Connecting people, improving lives. It’s simple and upbeat, but most of all it underscores our collective belief that logistics and global trade improve the prosperity of nations and improve the lives of blue-collar workers in those countries.
It is said that “no plan survives contact with the enemy”. Our plan and our purpose met a formidable challenge with the arrival of the pandemic. On paper, we faced a serious threat to our business and our ability to serve our customers. Global supply chains were interrupted, air traffic came to a standstill in many countries; border controls sprung up around the world; lockdowns confined people to their homes. No one knew what was around each corner.
I have often adhered to the principle that a quick decision is often a bad decision, and one should not be pressured by fictional deadlines. This situation was different, and from talking and thinking as a team it quickly became clear that it was necessary to change work routines and processes almost overnight. Communication became critical and we had to tailor and translate messages to our employees in 220 countries and territories. We had to ensure protection against the virus and deal with the prospect of downsizing. We resolved to introduce a radically changed environment.
We somehow squeezed four years of technological advancement into four months. Departments like HR and IT had previously often been known as ‘support’ functions. We had to move 9,000 laptops into homes as employees made the transition to their new workplace. Under these circumstances, my suspicion that there is no such thing as support functions was confirmed: we’re all on the frontline and we never missed a moment when we weren’t fully connected to our customers, or in fact more connected than ever before.
At one moment we were delivering PPE to China from around the world and then, within a matter of weeks, the direction shifted and it was to move PPE from China to the world. We helped to safeguard the existence of brands that had to suddenly close their physical stores and shift their business online. How tough would life have been if people had stopped receiving packages? There would have been no DIY, no gardening, no books, no sports gear, not to mention vaccines, medical supplies or spare parts for vehicles.
It became apparent within weeks that our business remained very strong and that our customers needed us more than ever. We found that we were able to fulfil
those needs, because our employees were willing to adapt in a crisis. Connecting people, improving lives - never before had this been more relevant than during the pandemic: never before has it been more recognised internally and externally. This simple, memorable idea cut through and became a much more commonly known and widely used part of our own lexicon.
Our strategy was able to evolve with the changing circumstances, as we came up with a way to think about the company and a way to talk about the company that our teams could apply to make their own decisions. During the darkest days, our investment in communicating and clarifying our purpose over many years paid off. Thankfully, we were not an executive board of ten advocating what to do, rather we had 110,000 advocates for what we needed to do. Our purpose gave us the momentum we needed to adapt. The concept of “influence a thousand” came to mind.
The pandemic proved our resilience. We operate across 220 countries and territories. With operations on a global scale, there will always be natural or political disruptions of some kind going on somewhere every week. We have to deal with that. As a company, we have to be optimistic about a swift recovery from the pandemic – in the same way as we got through the Icelandic ash cloud of 2010 and the great Recession of 2008. This would pass in the same way.
Like so many other frontline and essential services, we helped secure livelihoods, delivered health and joy, enabled growth and kept supply chains running. It wasn’t difficult for our employees to see the impact they were having. For our people, this was a source of tremendous pride and meaning. This was reflected in our annual Employee Opinion Survey, conducted among all employees. It shows that employee engagement jumped from 77% in 2019 to 82% in 2020. The benefits of maintaining global connections have become even more tangible than ever before. Vaccine development itself is a great example of globalisation at its best. It wouldn’t have been possible without the global division of labour and global exchanges of knowledge.
Now that vaccine production is ramping up, the distribution of vaccines depends crucially on global logistics. We have to date distributed more than 200 million COVID-19 vaccine doses to 120 countries. This is an excellent example of our purpose (and globalisation) in action.
The distribution of vaccines is not just essential to our customers and the world.
It’s also motivating for our employees: they feel part of something, their families show pride in them, and they are thrilled when they see our planes arrive and the distribution process start.
But our purpose is not just a feature of work life. We want our employees to be active citizens in helping the towns, villages and communities where they live. Our ‘Go’ programmes support the efforts of our employees to make a contribution to wider society.
Whether that means making it easier to trade across borders, (GoTrade), giving young people the opportunity to learn new skills (GoTeach), preparing for the logistical challenges of natural disasters (GoHelp) or ensuring business success is compatible with environmental protection (GoGreen), we have initiatives to get employees involved in causes that drive them. We’ve also launched DHL’s Got Heart – a way that colleagues can draw attention to the charities they support or set up ways to back good causes through their own initiative.
International collaboration can counter the forces of nationalism and protectionism that threaten the flow of trade. Alibaba’s Jack Ma puts it succinctly, ‘If trade stops, war starts’. Corporate work cultures can offer a model for societies, showing how commerce can transcend religious and cultural differences and be inclusive of many nationalities and languages.
We know that trade can soothe tensions between nations and create bonds of fellowship. If companies like ours succeed in engaging and empowering our employees, that will provide a template for governments and society as a whole. It’s sometimes hard to find the words to say what we mean when we talk about purpose. But I found that you don’t always need to. Remember the song Bridge Over Troubled Water by Simon and Garfunkel?
During the pandemic, we used this song and the lyrics to complement some of our communications. It was memorable. It caught the mood. And it conveyed a message. It said everything we needed to say about how we needed to maximise our collective effort to overcome setbacks during those difficult days. We’re proud that we did what we could to calm the troubled waters.
Final thoughts: the purpose of any company and organisation should be aligned with what it is they do, where they operate, what industry they are in, what assets they have and where their employees live. What matters is how you “connect” locally and, at the end of the day, your own example is the best example and your employees will be proud, and justifiably so, given that it is them carrying the torch.
LOCAL NEWS
“After three years at the head of the Managing Board, I am proud of the results achieved and the fact that we have fulfilled 98% of the goals from NALED’s strategic development plan” – VLADIMIR NOVAKOVIĆ,
OUTGOING PRESIDENT OF THE NALED BOARD
SERBIA ATTRACTED $3.4 BILLION FDI IN 2020
In Serbia FDI inflow reached $3.4 billion, in the previous year and it placed the country at third position regarding attracted FDI among economies in transition, right behind the Russian Federation ($9,7 billion) and Kazakhstan ($3,4 billion), according to the newly published UNCTAD “World Investment Report 2021”. The Report states that South-East Europe had around $6 billion FDI in total, which indicates that more than half of the FDI of the region in 2020 came to Serbia.
As published in the analysis, SouthEast Europe has faced decrees in FDI inflow by 14% compared to the previous year, although to a far lesser extent than in the CIS and Georgia (-64 percent, to $18 billion).
NALED MEMBERS ELECT NEW BOARD OF DIRECTORS AND REFORM PRIORITIES UNTIL 2025
The new Board of Directors of NALED in the next four years will be led by Stanka Pejanović (Hisense), Igor Vukašinović (Apatin Brewery), Svetislav Atanasov (Coca-Cola), Goran Kovačević (Gomex) and Vladislav Cvetković (PwC) in front of members from the economy. Representatives of local self-governments will be Nikola Dašić (Kragujevac), Goran Cvetanović (Leskovac) and Nikola Vučen (Smederevska Palanka), and the civil sector Tijana Gajić (Pexim Foundation), decided the members of NALED at the 15th annual and 8th election assembly of the organization, whose formal session was held at the Hyatt Hotel.
USAID AND ICT HUB PARTNER TO SPUR INNOVATION IN SERBIA
ICT Hub and the U.S. Agency for International development (USAID) officially launched the “Serbia Innovates” project, its partners Public policy research centre and WMEP, to representatives of SMEs, start-upe and academia, investors, the government and non-governmental sector, in order to encourage them to work together in designing an innovation friendly environment in Serbia that will accelerate economic development in the most promising industries. The first phase of the project showcases massive research that identifies the most promising domains for innovations in Serbia.
EUROBANK AND MANCHESTER UNITED CONTINUE THEIR LONG-STANDING COOPERATION
The football club and the bank continue their partnership for the seventh year in a row. Eurobank signed a new agreement on cooperation with Manchester United, a globally renowned football club, and thus continued the successful partnership established in 2014. Thanks to this collaboration, Eurobank clients can become owners of co-branded debit, credit and prepaid payment cards with the Manchester United logo. In addition to standard functionalities, such as contact-free transactions and online payments, owners of these cards also have the option of participating in numerous promo campaigns with valuable prizes, including a visit to the Old Trafford Stadium.
“The Serbian economy is based on Corridor X, and we must go beyond that. By reaching 99 local self-governments, we have fulfilled one of the goals of European integration” – SEM FABRIZI, HEAD OF THE
DELEGATION OF THE EUROPEAN UNION IN SERBIA
postings Placements &
Vladimir Bošković, a seasoned senior executive and current executive board member in charge of corporate banking and global markets, will be appointed new Chairman of the Executive Board of Sberbank Serbia as of 1st August 2021. Bošković will succeed Marijana Vasilescu, who is taking on a new business challenge within the Sberbank Europe Group and will take on the position of Chairman of the Executive Board of Sberbank Czech Republic, with the same effective date. Bošković joined Sberbank Serbia in 2014, as director of the sector for small and medium-sized enterprises. He was appointed executive board member in charge of corporate banking and global markets in 2018, taking on the responsibility to substantially improve the quality of the bank’s corporate loan portfolio while building one of the largest cross-border loan portfolios on the Serbian market. Bošković is able to call on his 15 years of experience in the banking sector, having previously held various leading functions at Raiffeisenbank and Credit Agricole in Serbia.
COUNCIL OF CITIES AND MUNICIPALITIES WITH A FAVOURABLE BUSINESS ENVIRONMENT IS ESTABLISHED
The mayors and presidents of 25 local governments from Serbia signed a solemn charter on the establishment of the Council of Municipalities and Cities with a Favourable Business Environment (BFC Club) and ccepted the obligation to work together to improve conditions or local businesses. These are local governments, which, by successfully passing the Certification of Municipalities with Favourable Business Environment in Southeast Europe (BFC SEE) programme, have gained confirmation that they provide services according to the highest international standards. The BFC club also includes cities and municipalities that are currently in the process of certification, and seven more have decided to enter the process and join the new, seventh working body of NALED.
Safety Comes First!
HEINEKEN Srbija actively operates at two breweries in the country. Its brewery in Zaječar is proud of its longstanding tradition and brewing expertise that dates back to 1895, while its Novi Sad brewery is one of the region’s most technologically advanced breweries
HEINEKEN Srbija strives to contribute to the community in which it operates with the highest quality standards, respect for human rights and protection of the environment with every move and project. And that will certainly continue to be its path in the future
HEINEKEN has two breweries in Serbia. Do they apply all the procedures and standards of the parent company, which are often stricter than those prescribed by European regulations? HEINEKEN Srbija is a brewer in Serbia that actively operates at two breweries, one in Novi Sad and the other in Zaječar. While the brewery in Zaječar is proud of its longstanding tradition and brewing expertise that dates back to 1895, the Novi Sad brewery is one of the most technologically advanced breweries in the region.
All the policies and standards that exist within HEINEKEN have been introduced and implemented in our local company, and these policies and standards are indeed
often even stricter than those specified by European regulations. Our Novi Sad and Zaječar breweries have both obtained the most prestigious international certificates for quality, business operations, production, organisation and environmental protection, such as ISO 9001, food safety policy FSSC 22000, environmental protection policy ISO 14001 and health and safety policy ISO45001.
In everything that we do, we always place our health and safety, as well as that of our families, consumers and partners, above everything else. Each and all of us do everything that we can, both personally and professionally, to take the best care of ourselves and all the people with whom we cooperate. Our goal is clear: safety comes first! It seems that caring for the community in which you operate and the environment is not seen as a legal obligation, but as a company mission. Does the impression deceive us? Transparency in daily work and communication, respect for the individual, local community and society, passion for quality and social responsibility represent the core values of our company.
As an integral part of the communities in which we operate, we establish, develop and maintain strong relationships not only with the towns where our breweries are located, but also with all other towns and cities, with the goal of maintaining traditional values and benefiting the quality and standard of life for all citizens and our employees.
We take care and nurture our local product and can proudly say that our Zajecarsko is bearer of the trademark Čuvarkuća, designed and supported by the Serbian Chamber of Commerce, as a product made of raw materials of local origin.
Over the last ten years, HEINEKEN Srbija has invested around 200 million euros in this beautiful country, including investments in our breweries, processes and the improving of standards, but also many corporate social responsibility projects. Just to mention some of the latest contributions we did. When the COVID outbreak started, at the very beginning, we donated 100,000 euros for the procurement of additional respirators for people affected all around Serbia, while through our Zaječarsko brand, together with our consumers, we provided 100,000 free meals for vulnerable Serbian citizens, in cooperation with the country’s Food Bank. All our employees joined the campaign and
personally donated additional food for people in need in Zaječar, Novi Sad and Belgrade.
The “Brew a Better World” programme, which is multi-layered and multidimensional, has entered the second decade of its existence. What messages does it carry?
Over the past decade, ‘Brew a Better World’ has had a profound impact on our business. In close alignment with our stakeholders, we have developed a strategy that is that is so simple, that it fits on a coaster but concise, including all the relevant priorities and challenging but achievable goals. ‘Brew a Better World’ remains our foundation and the task we set for ourselves and in working with others. ‘Raise the Bar 2030’ reflects the increased ambition of our new action plan.
HEINEKEN Srbija follows and respects the global sustainability agenda, but is always observing through the lens of the local context, as well as identifying the greatest needs of the local communities where we operate.
We are committed to the environment, social sustainability and responsible consumption on a path to a net zero, fairer and healthier world.
We are committed to achieving carbon neutrality in production by 2030 and in our full value chain by 2040, with zero wasteto-landfill by 2025.
When it comes to our people, we will maintain equal pay and fair wages for all our employees and are committed to achieving 30% female leaders in senior management by 2025 and 40% by 2030, on the path to gender balance.
In order to provide choice and moderation, in Serbia we offer all our consumers three zero-alcohol options through Heineken 0.0, Laško 0.0 and Laško Malt Mix 0.0, while we establish strong partnerships on responsible consumption and further improve them every year, thus reaching as many consumers as possible with messages of responsible consumption.
How does your company, which has been investing huge funds to improve wastewater treatment and control systems for a long time, view this issue?
Water is crucial to beer production. It is the main ingredient of the finished product, but it is also used during the entire supply chain, including in the growth and cultivation of crops. Through our sustainability programme and different initiatives, we are focused on the protection of water resources. A comprehensive programme called “Every drop counts” is built on three
principles of water conservation: efficient use of water (using as little water as possible); application of the circular economy principle in water use (water purification and reuse); and responsible water manage-
ment (basin maintenance to absorb more atmospheric water).
Heineken Srbija has reduced water consumption within its processes by 75% over the last decade and strives to maintain this trend year on year.
The water used for the entire process of our beer production is ultimately released into nature, but in a strictly controlled way, through a wastewater treatment plant - a special plant for industrial water treatment that has the function of purifying water and rendering it safe for the environment before its final release into nature.
What is meant by the term “inclusion & diversity”, which you often use? What message are you sending with this term?
As a global company with operations in over 70 markets, we are multicultural and have integrated I&D into our people plans, talent management strategies, employee engagement and everyday operations. Although beer might be seen as mostly a man’s drink and job, we are very proud of all our strong and dedicated female colleagues, who comprise close to 40% of our leadership team and we will continue to expand it!
Inclusion and diversity must be combined and it is all about the fact that everyone feels that they can express themselves, their thoughts and concerns without any doubt or fear. We are all equal at our job and we nurture the environment with strong bonds among us, all aiming at achieving fairness and respecting everybody’s integrity.
As of 2020, you have more than 130 nonalcoholic product variants in your portfolio. Will you continue to invest in this area; do you think this is the direction to go in the future?
Changes in drinking behaviour, healthier lifestyles and the simple desire for more choice and variety have all contributed to the rise of the low- and no-alcohol drinks. This drives our companies to innovate continuously in the area of low- and noalcohol (LONO) drinks, in order to provide a growing variety of LONO brands.
Heineken 0.0 is a non-alcoholic beer made according to a unique recipe that’s recognisable for its balanced taste of barley malt and fruit notes, and is aimed at responsible consumption even on occasions such as lunch during working hours, when participating sports or fitness, or before driving. Heineken 0.0 was selected as the product of the year 2021 in the category of non-alcoholic beer, based on Serbian consumer experience.
We are genuinely inspired by our consumers and very excited that we can offer them a choice in every situation and at every moment.
REGIONAL NEWS
“We shouldn’t have the G7 dictating what tax rate we have in our country” – TADEUSZ KOSCINSKI,
MINISTER OF FINANCE OF POLAND
EIB INVESTS IN SAFER AIR TRAFFIC ON KEY AIR CORRIDORS OVER THE WESTERN BALKANS
The European Investment Bank (EIB) will lend €10.3 million to Serbia and Montenegro Air Traffic Services SMATSA Llc (SMATSA), which manages air traffic over the two countries. The corridors controlled by SMATSA are key regional, European and global air routes used by tens of millions of passengers and cargo operators from across the globe. The EIB funds will enable SMATSA to upgrade the reliability and interoperability of its air traffic control services and align them with the Single European Sky (SES) regulations, an EU-level policy introduced to better connect Europe by offering a single regulatory framework for air transport. The investment will improve connectivity across Europe and increase the quality of core air transport infrastructure and services, contributing to more efficient regional travel. This will support further integration of the Western Balkans with the European Union.
BANOVINA MOTORWAY DELAYED AGAIN DUE TO PUBLIC TENDER APPEALS
The Banovina motorway, often referred to as the Banovina ‘’rescue’’ motorway has seen progress delayed once again following appeals launched. As Novac/Vedran Marjanovic writes, Croatian Motorways has just announced the receipt of an appeal against the public procurement tender for the selection of a contractor for the construction of a 300 million kuna section of the Zagreb-Sisak motorway, known as the Banovina motorway. ‘’The appeal filed against the change of procurement documentation prevents the continuation of public procurement,’’ HAC said on the occasion of a new appeal being launched against the tender for the completion of the Zagreb-Sisak highway, more specifically for the section of the A11 highway from Lekenik to Sisak.
OVER 400,000 PERSONS UNEMPLOYED IN BIH
In April 2021, the number of persons in paid employment in Bosnia and Herzegovina was 813,454, out of which there were 349, 803 women. As compared to March 2021, the number of persons in paid employment increased by 0,3% and the number of employed women decreased by 0,4%, according to the press release issued by BiH Agency for Statistics in June. In April 2021, the number of registered unemployed in BiH amounted to 402,146, out of which there were 230, 348 women. As compared to March 2021, the number of registered unemployed decreased by 1,1% (number of men decreased by 1,5% and women by 0,8%). As compared to April 2020, the number of registered unemployed decreased by 4,2% (number of men decreased by 4,3% and women by 4,1%).
“We should be given the right to make our own sovereign decisions on the taxation of substantial economic activities performed on our territory. Therefore, a tax increase is not supported by the government in the case of companies with substantial economic activity” – MIHÁLY VARGA,
MINISTER OF FINANCE OF HUNGARY
BANK OF ALBANIA UNVEILS NEW LEK 10,000 BANKNOTE
The portrait of renowned poet and at the same time author of the national anthem of Albania, Aleksander Stavre Drenova, known by his pen name Asdreni, will be featured on the new Lek 10,000 banknotes, which will enter into circulation, on June 30th, the Bank of Albania (BoA) announced Tuesday. The new Lek 10,000 is the highest value Albanian banknote. Some of the design elements of the new denomination were made public before by BoA, but the complete design was unveiled for the public along with the improved Lek 1,000 denomination. The new 10,000 note has the portrait of Asdreni in the obverse and its color is red. The dimension of the note is 160 mm x 72 mm. The reverse design includes the national flag and a verse of the national anthem.
MONTENEGRO GETTING EUROPEAN HELP TO REFINANCE ITS MASSIVE CHINA DEBT
The Montenegrin government is financing a highway with a €1 billion loan from a state-run Chinese bank. Now it’s facing problems trying to repay the first installment due in July. A European financial institution is prepared to help refinance Montenegro’s $1 billion debt to China, which the Balkan country incurred over a controversial highway project. Montenegrin Finance Minister Milojko Spajic said the low-interest credit from the financial institution will allow the cash-strapped government make savings and cut interest rates. He also told a session of the parliamentary Finance and Budget Committee on 17 June that a nondisclosure agreement prevented him from revealing the lender, but that talks were “in the final phase.” According to RFE/RL, European Union source said that an agreement on providing credit is in the process of being finalized and, once finished, will be signed by European Commission President Ursula von der Leyen.
STANDARD & POOR’S CONFIRMED CREDIT RATING OUTLOOK OF BULGARIA AS STABLE
The American Credit Rating Agency S&P Global Ratings has confirmed the long-term and short-term foreign and local currency sovereign credit ratings on Bulgaria at ‘BBB/A-2’, the country‘s rating remains stable, the Finance Ministry reported. According to the rating agency, the contraction of Bulgaria’s economy has so far been relatively insignificant, mainly due to sustainable domestic demand. The slow pace of vaccination and the potential surge of the COVID-19 pandemic could trigger a slower-thanexpected recovery in external demand, which would negatively affect the expected recovery in 2022.
SERBIAN EXPORTS & TECHNOLOGICAL CHANGE Clear & Unequivocal Change For The Better
Serbian exports of high and medium technological complexity products are growing at an above-average rate. This is particularly true for high-tech products, with the value of exports having grown almost 15fold over the course of 15 years. The accelerated process of closing the gap with other countries of the region suggests that Serbia, as a country that used to be home to industries with low value-added activities, will be able to reposition itself.
Ivan Nikolić, editor of the journal Macroeconomic Analyses and Trends, recently published analysis showing that the technological intensiveness of Serbian exports is changing in the desired direction, and that the pace of technological convergence has been very favourable over past years.
The methodological framework of this analysis relies on the method of comparing classified exports with the commodity groups of the Standard International Trade Classification - SITC, rev. 4, as well as the degree of technological complexity applied by UN foreign trade statistics. For EU countries, the values of exports in the observed years were taken from the database of EUROSTAT, while for Serbian exports this analysis used the database of the Statistical Office of the Republic of Serbia. The major findings are as follows: • Serbia’s chronically unfavourable export structure, following the rapid deterioration of the 1990s, as well as the stagnation and modest progress achieved after the year 2000, finally improved considerably over the course of the past year. The improved quality of industrial output ensures exports of commodities that are more competitive, technologically more advanced and increasingly valuable. • Serbia’s commodity exports at year’s end 2020 were worth 17,051.9 million euros, which is 13,443.6 million euros higher, or 4.73 times more, than in 2005. No other country encompassed by this survey was more successful (Table 1) in this regard. For example, Poland registered 3.3-fold growth of exports and Bulgaria 3.03-fold. Bulgaria experienced a ‘rebirth’ in the same period, increasing its exports by 2.8 times. • In Serbia, exports of products of high and medium technological complexity are growing at an above-average rate. Within this group, this refers in particular to exports of high-tech products, where the value of exports grew almost 15-fold in fifteen years (from a value of 77.4 million euros in 2005, exports of these products reached a value of 1,159.5 million euros last year).
• The accelerated process of closing the gap with other countries of the region is, in this sense, clear and unequivocal (Table 2). The extent of this process is such that it even enables a light projection of Serbia’s repositioning in the near future, with our country having even surpassed some others in terms of the value of commodity exports. For example, Serbia today exports around 15% more products of a high and medium technological value than Croatia, while this neighbouring country’s exports of these products were five times higher just fifteen years ago.
The authors of this analysis emphasise that convergence is the primary goal of the EU’s cohesive policy, which is achieved through an accelerated process of catching up with the economies of the least developed countries and regions, as well as the improving of conditions for growth and employment. • The aforementioned dynamics (Table 3) are reflected directly in the technological restructuring of Serbian exports. Exports of high and medium technological complexity products today accounts for exactly a third of Serbia’s total exports. Just fifteen years ago, these exports accounted for a mere 13.5%, with which Serbia could not match any European economy. It should be noted that the most successful countries in transition (Hungary, Slovenia, Czechia, Poland) already had a very favourable technological structure of exports at the turn of the millennium, with that structure having continued to exist over the subsequent two decades. • Serbia has a high degree of production concentration in exports of the high-tech group, while it could be said that concentration in exports of products of medium technological complexity is close to the average in the observed countries (Table 4). Three out of the 18 products that form the high-tech group generate 72.2% of this group’s exports. These products have generated as much as three quarters of the growth of this group’s total value since 2005. Table 1. Multiplication of the value of merchandise exports in the period 2005-2020 (the value of exports expressed in EUR)
SERBIA Total exports
4,73 Export of High-Tech and Medium-Tech products
11,71 Export of HighTech products
14,97
BULGARIA 3,03 4,69 4,75
CZECH REPUBLIC 2,67 3,11 3,98
GERMANY 1,55 1,53 1,63
CROATIA 2,12 1,96 2,42
HUNGARY POLAND 2,08 3,29 2,22 3,36 1,87 6,83
ROMANIA 2,78 5,39 5,43
SLOVENIA 2,53 2,42 3,17
Table 2. Speed of catching up on the absolute value of merchandise exports ie. how many times was the value of their exports higher than in Serbia, in the observed years? 2005 2010 2015 2019 2020
BULGARIA Total merchandise exports 2,56 2,10 1,90 1,70 1,64 Export of High-Tech and Me dium-Tech products 3,59 2,18 1,37 1,47 1,44
CZECH REPUBLIC Total merchandise exports 17,40 13,57 11,83 10,14 9,83 Export of High-Tech and Me dium-Tech products 68,46 39,14 20,39 18,99 18,19
GERMANY
CROATIA Total merchandise exports 216,29 128,44 99,33 75,87 70,82 Export of High-Tech and Me dium-Tech products 918,30 371,57 171,84 132,99 119,73
Total merchandise exports 1,96 1,20 0,97 0,88 0,88 Export of High-Tech and Me dium-Tech products 5,08 2,35 0,91 0,88 0,85
HUNGARY
POLAND Total merchandise exports 14,02 9,74 7,38 6,31 6,17 Export of High-Tech and Me dium-Tech products 58,22 28,50 13,17 11,42 11,05
Total merchandise exports 19,92 16,30 14,91 13,58 13,89 Export of High-Tech and Me dium-Tech products 61,12 35,04 18,60 17,33 17,54
ROMANIA
SLOVENIA Total merchandise exports 6,17 5,06 4,54 3,92 3,62 Export of High-Tech and Me dium-Tech products 12,37 11,31 6,11 6,08 5,69
Total merchandise exports 4,29 2,98 2,39 2,29 2,30 Export of High-Tech and Me dium-Tech products 14,21 6,92 3,18 3,08 2,94
WORLD NEWS
“There will be other rivals to what we’re doing, and they’ll be doing things slightly differently than we’re doing it, and we’ll be doing it slightly differently to them” – SIR RICHARD BRANSON, FOUNDER OF THE
VIRGIN GROUP AND VIRGIN GALACTIC
TESLA TO ‘RECALL’ NEARLY 300,000 CHINA-MADE MODEL 3 AND MODEL Y VEHICLES
Chinese regulators said Tesla would ‘recall’ nearly 300,000 China-made and imported Model 3 and Model Y cars for an online software update related to assisted driving, with owners not required to return their vehicles. The State Administration for Market Regulation said on its website that the move is linked to an assisted driving function in the electric cars, which can currently be activated by drivers accidentally, causing sudden acceleration.
IBM UNVEILS FIRST QUANTUM COMPUTER IN GERMANY
It is Germany’s first quantum computer, and it is capable of bending the laws of physics and computing in order to work. IBM hopes to have a quantum computer that is 37 times faster in two years. IBM unveiled one of Europe’s most powerful quantum computers during an event at its German headquarters. IBM said the Q System One was “Europe’s most powerful quantum computer in the industrial context.” The quantum computer is to be housed in Ehningen, which is about 20 kilometers (12 miles) southwest of Stuttgart. It will be operated by Germany’s Fraunhofer research institute. It is the company’s first quantum computer in use outside of the US.
Deep Sea No1, China’s first self-operated 1,500-meter deep-water gas field, started production on Friday, according to the China National Offshore Oil Corporation (CNOOC). The operation of the gas field, 150 km off the city of Sanya in South China’s island province of Hainan, marks the country’s capability of ultra deep-water drilling for oil and gas, compared with the 300-meter depth previously, said the CNOOC. Production at the gas field, detected in 2014, is of great significance to ensuring national energy security, optimizing the country’s energy structure and promoting regional economic development, said the CNOOC.
“The difference between people who achieve their dreams and those who don’t is simple. It’s about action. It’s not about having a ton of brains, a ton of money or a ton of experience” – SARA BLAKELY, SPANX FOUNDER AND CEO
EU ENDORSES SPAIN’S RECOVERY PLANS
More details have been released about the Next Generation EU funding for Spain of 69.5 billion euros that was announced. The president of the European Commission, Ursula von der Leyen, confirmed details about the support, which is based on Spain’s recovery and resilience plan, outlining its response to the pandemic. The Recovery and Resilience Facility (RRF) will disburse the funding over the period 2021–2026. A total of 672.5 billion euros will support investments and reforms across the EU, with Spain receiving the second largest amount of funding, behind Italy. The country is actually set to receive 140 billion euros over the period 2021-2026 – half in direct payments, half in loans, after the entire EU’s economy buckled under lockdown restrictions, job losses and reduced consumer spending.
J&J CONFIRMS OPIOID BUSINESS HAS ENDED IN $230 MIL SETTLEMENT WITH NEW YORK
Johnson & Johnson has agreed to a $230 million settlement with New York state that bars the company from promoting opioids and confirmed it has ended distribution of such products within the United States. New York Attorney General Letitia James’ office in a statement said the agreement bans J&J from promoting opioids through any means and prohibits lobbying about such products at the federal, state or local levels. Johnson & Johnson has not marketed opioids in the U.S. since 2015 and fully discontinued the business in 2020. As part of the settlement, the company will resolve opioids-related claims and allocate payments over nine years.
GAZPROM BEHIND LARGEST INDUSTRIAL METHANE LEAK SINCE 2019
Gazprom has admitted responsibility for the world’s largest methane pipeline leak in almosttwo years, Bloomberg reported. Russia’s largest gas company said 2.7 million cubic meters of methane were emitted during emergency repairs to a gas pipeline in Russia’s central Tatarstan republic. Methane is a potent greenhouse gas which scientists say results in a much more immediate and short-term impact on global temperatures than carbon dioxide (CO2) emissions. While CO2 emissions can stay in the atmosphere for centuries, the Scientific American science journal has described methane as “warming the planet on steroids for a decade or two” — during which time it can be up to 86 times more harmful than CO2.
