34 minute read
BUSINESS DIALOGUE
VLADIMIR VASIĆ,
Secretary General of the Association of Serbian Banks
Advertisement
Bank Consolidation Strengthens the Market
Leaders’
MEETING POINT
ZORICA RADOVANOVIĆ,
CSR Coordinator at Moravacem
Partnership For The Future
SRĐAN RADIĆ,
CEO, TeleGroup
JELENA VUKOVIĆ,
Human Resources Director at Bambi
PEĐA PETRONIJEVIĆ,
CDO of GTC
Smart Tech: Key to New Normal Women Leaders – An Inspiration For New Generations Time For Changes
PAGE /28 PAGE /32 PAGE /33 PAGE /36 PAGE /37
Bank Consolidation Strengthens the Market
Although conditions for doing business have changed completely over the past 100 years, a strong need remains for the continued existence of the Association of Serbian Banks, which is among the rare institutions that can boast of such longevity, but also of its huge contribution to the banking sector
Ican confirm that the banking sector in Serbia is very stable; that it is adequately capitalised and that it actually showed during the pandemic how well it was able to endure the serious stress that the whole world experienced, but predicting what 2022 will be like is thankless at this juncture - notes Vladimir Vasić, Secretary General of the Association of Serbian Banks, speaking in this interview for CorD Magazine.
You’ve navigated the pandemic successfully, but that doesn’t mean the time of risks and challenges is in the past. How, in that sense, did you see the beginning of this year? Will this year be a good one for banks and bankers, for your clients, and also for the Serbian economy? The times are actually confirming that challenges are coming one after another, which is why it’s important for us not to celebrate the abating of one crisis, but rather to get ready for the next one, which will emerge sooner or later. At this juncture, that challenge is global and related to the conflict in Ukraine, which will impact on literally every point on the planet, and which has proportions that are still difficult to assess. That’s why it’s really a thankless task, and I would say an irresponsible one, to more precisely predict what kind of a year 2022 will be in business terms. That depends to the greatest extent on whether the situation in Eastern Europe will move in the direction of pacification or whether it will escalate further.
However, what’s important for us is to be aware of the extent to which we, ourselves, are ready for the challenges. My assessments are positive, but I really wouldn’t like to get into arbitrary speculations regarding the general economic situation.
Despite the fact that consolidation was launched successfully, we still have a higher than optimal number of banks. How do you think the dynamics of banking sector consolidation will unfold? Why is this process important?
The consolidation of banks is important because it creates more stable banking groups on the market, with increased credit potential, providing a higher level of service for all customers. And that’s what’s most important to the citizens of Serbia, and its economy. The nominal number of banks is really of lesser importance compared to the quality they offer and the overall stability of the banking system, and both are at a very high level in Serbia currently. The direction that further consolidation will take actually depends the most on the decisions of management, or the owners of banks, and in that sense it’s possible that the major business steps that they take in the period ahead will be influenced more by the global geostrategic situation than by any assessment of the state of the Serbian market.
No significant Euribor growth is expected over the next year or two. Will that encourage citizens to take out loans? How does this impact on the decision of the National Bank of Serbia to prevent excessive borrowing and maintain banking sector stability?
Lending activity in Serbia is showing constant growth, and has done so for a lengthy period. There’s no reason for us to doubt that such a process will continue, given that interest rates still stand at levels that are around the historical minimum and that, in our country for example, we have high growth in the construction of housing, i.e., the supply of real estate on the market. All this growth, of course, doesn’t threaten stability, nor does it come close to some high-risk indebtedness, which stands at around EUR 1,600 per capita and, as such, remains below the level of countries with which we are comparable in terms of economic potential.
There is ever more, and ever louder, discussion of sustainable banking. To what does this term even refer? What are the base conditions for sustainability?
Sustainability in banking is a really broad concept. Through their lending activity, banks have a social and environmental impact, while – on the other side – the banking sector itself is exposed to climate risks through its placements. These risks impact client’s credit potential, but also the quality of banks’ assets.
You stated recently that the future of banks is in the green agenda. Does this mean you’ll provide greater support in the future to projects related to environmental protection, energy efficiency and renewable energy sources?
Support for environmental protection, energy efficiency and renewable energy projects are some examples of credit lines that banks are directing towards the private and public sectors. This will certainly be even more evident in the period ahead, and that’s because - among other things – Serbia’s national policy is to raise the nation’s environmental awareness and directly resolve some of the issues that citizens have through financial incen-
tives for environmentally responsible construction. Environmentally friendly and sustainable operations have already been implemented in many segments of banking, and that applies to both the National Bank of Serbia and commercial banks that operate on the market. Support for environmentally sustainable development is also provided by the project of issuing “green” bonds, with the aim of implementing and financing specific projects in the area of environmental protection. There is an ever-increasing number of banks continuously committing themselves to respecting the UN’s Principles for Responsible Banking, and the signatories to these Principles also include the largest banks in Serbia, mostly those that are members of international banking groups.
How will Russia’s invasion of Ukraine and the war, the duration of which no one can guess, impact on the work of banks – not only in Serbia, but elsewhere too? Are we threatened by a dramatic rise in inflation and a new economic crisis? There’s no doubt that the conflict in Ukraine will have a certain impact on the entire world economy. We’re already seeing that through energy prices and supplies, but we’ll certainly also see it reflected in the food market, in which both Ukraine and Russia are very important players, and also in exports to these two extremely large markets. However, there’s no room for catastrophic scenarios even in a certain crisis like this one. We don’t have any indicators of inflation that show extreme values. As I said previously, it’s necessary for us all to assess our capacities well, to adapt to this situation, and certainly to make decisions rationally and calmly.
You celebrated the centenary of the Association of Serbian Banks just a few months ago. What do you think makes it such a valuable and glorious association?
What makes us proud, apart from everything the Association has done during this century, is the fact that even today – when conditions for doing business have changed completely compared to the time when the Association was founded – we continue to see the need for a banking association of this form to exist. I will remind you that membership in our Association is voluntary, and that our members really encompass all banks that operate in Serbia. Nothing testifies better than that to the claim that there is a purpose to our existence and that there would have been none of the evident improvement of the banking system without the contribution of the Association of Serbian Banks.
LOCAL NEWS
“Serbia’s steel industry has been limited by EU quotas on steel imports for several years, although there is a Free Trade Agreement with the EU” – BOJAN STANIĆ,
SERBIAN CHAMBER OF COMMERCE
GIAUFRET: CIRCULAR ECONOMY CREATES SUSTAINABLE GROWTH AND JOBS
Combating climate change, promoting climate-neutral growth, and involving all citizens in the process are some of the conclusions from the conference ‘Circular Economy, Employment and Digitization in the Light of the Conference on the Future of Europe’, organized by the Serbian Ministry of European Integration and Chamber of Commerce. “This conference comes about a month after we launched an investment package worth 3.2 billion euros to support 21 projects in the field of transport, digital data, climate, and energy in the Western Balkans. This is the first large package under the Economic and Investment Plan, which will mobilize up to 30 billion euros of investment as a combination of grants, preferential loans, and guarantees”, said Ambassador Giaufret in his introductory speech.
RAISED QUOTAS FOR SERBIAN STEEL EXPORTS TO EU
The European Commission has adopted a decree redistributing quotas for steel imports into the EU that had until now been intended for Russia and Belarus. Quotas for the export of certain types of steel have thus been increased for Serbia, the Serbian Chamber of Commerce announced. Assistant Director of the Sector for Strategic Analysis, Services, and Internationalization of the Serbian Chamber of Commerce Bojan Stanić pointed out that he believes that our companies in the steel industry, which are also large exporters, will know how to use this change in European regulations.
NEW REPORT UNVEILS BEST AND WORST LABOUR PRACTICES IN SERBIA’S PLATFORM ECONOMY
Fairwork launches today the first set of fairness ratings for the Serbian platform economy. In the first report of its kind, researchers from the Public Policy Research Center (CENTAR), Berlin Social Science Centre, and the Oxford Internet Institute evaluate the working conditions of the four most prominent platforms in the country (Glovo, Wolt, CarGo and Uradi-zaradi) and assess them against Five Principles of Fair Work: Fair Pay, Fair Conditions, Fair Contracts, Fair Management, and Fair Representation. The scores achieved by these platforms range from 4 to 0 (out of 10). The platforms’ low scoring reveals that there is still much to be done to ensure fairness in the Serbian platform economy.
postings Placements &
appointments@aim.rs
H.E. CHRISTOPHER R. HILL, NEW U.S. AMBASSADOR TO SERBIA
Christopher R. Hill was a career member of the U.S. Foreign Service until he retired in 2010 after a 33-year career. His most recent position was as the 2021 George Ball Adjunct Professor at Columbia University’s School of International and Public Affairs. During his Foreign Service career, Hill served as U.S. Ambassador to Iraq, Korea, Poland and Macedonia, Assistant Secretary of State for East Asian and Pacific Affairs, and Head of the U.S. delegation to the 6 Party Talks on North Korea. He previously served as special envoy for the Kosovo crisis and prior to that was a member of the U.S. negotiating team whose efforts led to the Dayton Peace Agreement, ending the Bosnian war. Following his formal retirement, Hill was Dean of the Josef Korbel School of International Studies and then Chief Advisor to the Chancellor for Global Engagement and Professor of the Practice of Diplomacy at the University of Denver. He earned a B.A. at Bowdoin College and an M.S. at the Naval War College. The recipient of numerous honours, including the Robert S. Frasure Award for Peace Negotiations and the Secretary of State Distinguished Service Award, Hill speaks Serbian, Polish, Macedonian and French.
H.E. JAEWOONG LEE, NEW AMBASSADOR OF THE REPUBLIC OF KOREA
Ambassador Lee holds a BA in International Relations from Seoul National University and an MA in International Relations from the University of Chicago. He joined the Korean Foreign Ministry in 1993 and has held foreign postings that include serving at the Korean embassies in the Netherlands (2004-2006) and Ghana (2011), at the Korean Permanent Mission to the UN in New York (2009-2010) and as Deputy Consul-General at the Korean Consulate General in Chicago (2014-2017). A career diplomat, he’s also held various foreign ministry posts, including Desk Officer for Negotiations on North Korean Denuclearization (2007), Advisor to the 1st Vice Minister (2008), Director of the Climate Change and Global Green Growth Division (2012-2013), Deputy Representative for Korea-U.S. Defence Burden-sharing (2017-2019) and Deputy Spokesperson (2019-2021). Ambassador Lee, a married father of two sons, earned his Order of Service Merit (Green Stripes) in 2013.
H.E. BASSEL SALAH, NEW AMBASSADOR OF EGYPT TO SERBIA
Ambassador Bassel Salah, current ambassador of the Arab Republic of Egypt to the Republic of Serbia, has previously held several key diplomatic posts. He served at the Permanent Mission of Egypt to the UN in Geneva and the Embassy of Egypt in Washington DC, as well as holding the post of deputy ambassador of Egypt to Tunisia. He has also served as director of the Cabinet of the Deputy Foreign Minister of Egypt, a member of the Office of the Political Advisor to the President of Egypt and a member of the Cabinet of the Foreign Minister of Egypt. He holds a master’s degree (MSc) in Comparative Politics from London School of Economics, a master’s degree (MA) in International Relations from the American University in Cairo and a bachelor’s degree (BSc) in Mechanical Engineering from the American University in Cairo. Ambassador Salah is a married father of one child.
H.E. FATAH MAHRAZ, NEW ALGERIAN AMBASSADOR
Born 30th August, 1958, in Algiers, Fatah Mahraz studied at Algeria’s National School of Administration (Diplomatic section) from 1978 to ’82, before spending five years as a desk officer at the Algerian MFA. His first foreign posting (1987-’91) saw him serve as First Secretary at the Embassy of Algeria in Zimbabwe, Malawi and Botswana. He then served as International Observer of the OAU mission in South Africa from 1992-’94, before becoming Deputy Director for Southern, Eastern Africa and Sahel countries based at the Algerian MFA. His first ambassadorship came in 2001, when he was appointed Ambassador to Angola and Sao Tome and Principe, while his second came in 2009, when he took up residence in Stockholm and served as Ambassador to Sweden, Iceland and Finland. Prior to his arrival in Belgrade, Mahraz spent four years (2017-’21) as Ambassador-Counsellor of the Minister of Foreign Affairs. A Married father of three children, apart from his native Arabic, Ambassador Mahraz is fluent in French and English and can also speak Portuguese.
H.E. JOSÉ MAURO DA FONSECA COSTA COUTO, NEW AMBASSADOR OF BRAZIL TO SERBIA
Born 27th May 1959 in Asunción, Paraguay, José Mauro da Fonseca Costa Couto studied at the University of Brasilia’s Faculty of Law (1977-’78), before continuing his law studies at Cândido Mendes University (1978-’79). He later acquired a Masters Degree in International Relations from Boston University (1987-’89). After serving in the Consular Division, Near East Division and Africa Department of the Ministry in Brazilia from 1980 to ’83, reaching the diplomatic level of second secretary, he served abroad with temporary missions at the Embassy of Brazil in Rabat (Third Sec., 1983) and the Embassy of Brazil in Accra (Second Sec., 1984), then spent four years (1985-’89) as Second Secretary at the Embassy of Brazil in Bonn, before becoming First Secretary at the embassies in Montevideo (1989-’92) and Paramaribo (1992-’94), Counsellor and Deputy Consul General in Miami (1997-’01) and Counsellor in Tokyo (2001-’03). He was decorated with the title of Grand Official of the Order of Rio Branco, Brazil, in 2010 and received his first ambassadorship in Khartoum (2014-’18).
Partnership For The Future
Moravacem, a member company of the CRH Group, is located in Central Serbia, in the village of Popovac near Paraćin, 160 km south of Belgrade. With its three cement production factories in the vicinity of Belgrade, in Krnjača, Dobanovci and Zemun, Moravacem also has a strong presence on the finished concrete market
This month we discussed Moravacem’s CSR projects and initiatives with Zorica Radovanović, its company coordinator for corporate social responsibility.
Could you tell us a little more about the current “Partnership for the Future” contest? How can organisations or institutions apply and what’s the deadline for applications? This year, for the 13th consecutive time, Moravacem is organising its “Partnership for the Future” contest and calling on all non-profit organisations, institutions and civil society associations to submit their conceptual projects for participation in the competition. The contest is open until 29th April, so I would like to take this opportunity to invite all those who are interested and have a good conceptual project idea to apply. All registered civil society associations, organisations and institutions headquartered in the municipality of Paraćin have the right to apply for inclusion in the contest, either independently or in partnership with one or more organisations. The results of the contest will be published on the website of our company on 1st June 2022. The total award fund for is 30,000 euros, and 10 projects will each receive an award of up to 3,000 euros each. The decision on which projects will be supported has been entrusted to an expert jury comprising representatives of Moravacem.
Which topics are being supported by this year’s “Partnership for the Future” contest? When it comes to the selection of projects to be awarded, consideration will be given to the relevance of the project to the needs of the local community and the potential for sustainability, but also alignment with the topics that Moravacem supports through its Corporate Social Responsibility Strategy, which include: local economy for sustainable development (this includes initiatives aimed at developing employability, creating a stimulating environment for launching new businesses and supporting local micro, small and medium-sized enterprises), communities for sustainable development (initiatives that aim to improve the quality of life of citizens in local communities in various aspects, including culture, education, health and support for socially vulnerable groups) and the natural environment for sustainable development (initiatives in the community that contribute to improving the quality of the environment). Priority will be given to projects that contain innovation in terms of ideas and approaches, partnerships and coalitions among organisations and institutions, schools, citizens and local government, followed by activities of educational nature, volunteer activities and more.
What can you tell us about other CSR activities that you have planned for the period ahead? Alongside the “Partnership for the Future” contest, which is already among our traditional long-term CSR projects, this year we will realise significant cooperation with the National Association of Parents of Children with Cancer (NURDOR), while we also plan to organise preventative checks and mammography screening for women with the aim of the early detecting of breast cancer.
Your company also takes an active role in spreading awareness of the topics of inclusion and diversity. What are your plans on this front for this year?
We are this year continuing initiatives that aim to promote culture and raise awareness, both among employees and on a broader level, of the importance of the including of diversity and social inclusion in all business processes and culture. We organised two very successful panel discussions last year, at which we hosted eminent experts who spoke about these important topics. We are this year continuing to address the issues of inclusion and diversity by expanding the audience that we address, so we plan to organise a major national conference and, at the local level, we will also establish cooperation with local high schools. With the successful examples of our colleagues, our wish is to encourage young girls, high school graduates, and to show them that there are companies that nurture diversity and inclusion, as well as providing equal opportunities for all, regardless of gender, to advance and forge successful careers in heavy industries.
Smart Tech: Key To New Normal
TeleGroup is a Balkan based technology company that has invested 21 years in earning the trust of businesses, state institutions and public companies, and which – despite attractive offers – hasn’t changed its ownership structure to this day
The key operational areas-expertise of TeleGroup technological solutions are Intelligent Traffic Systems, Food security, The new Generations of Telecommunications networks, Advanced Technical Security, Cyber Security, Energy Security and Smart Health Solutions.
Your company is celebrating its 21st birthday with fresh energy that is being brought by you personally, among others, as the new CEO. You surely have major plans...
All companies wanting to achieve market success must, first and foremost, find the inner strength to be constantly ready for change. This is no mean feat, given that it requires lots of resources, primarily personnel. Becoming accustomed to living and working in a world of constant change is a prerequisite of success. As such, innovative companies have a need for personnel who are capable of putting forward changes and ideas. Our company’s 21-year tradition of operations is now continuing under new management, in which the second generation of owners is actively involved. The responsibility upon me, as director of TeleGroup in Serbia, as well as the responsibility of other members of the new management team is to preserve the strong foundations and build furtherly by introducing the advanced technologies that will raise the level of digitalization and automation in all segments of operations.
TeleGroup is focused on Germany, with our direct partnership with German telecommunications giant Deutsche Telekom having brought us a pillar of support and great development
In which ways your business applications and solutions help companies achieve their full business potential?
Our strength is our excellent command of the fundamental telecommunications infrastructure.
The knowhow we use to create services to utilize that very infrastructure in the best possible way. As society and the world of technology advance, the need increases for ever-more reliable and secure capacities. TeleGroup ensures that all critical systems, of both the telco and public sector, transport and energy industries, function flawlessly and remain protected in these times that are challenging for all. We expect that in future there will be increasingly more activities directed towards modernizing our cities and rural areas. We have projects underway, solutions of our own development. Digital products that enable digitalization making work and life more sustainable, healthier and easier.
Is this the right time to conquer new markets, expand cooperation and acquire new partners?
TeleGroup’s focus is Germany. Direct partnership with German telecommunications giant- Deutsche Telekom brought us a pillar of support and great development. We have been entrusted Fiber optic rollout in the North. The volume of works grows constantly. We employ young and capable people who speak German language and are willing to learn. We currently have more than hundred people on the grounds. We specialize in “Turnkey” services. The ability qualified us to be the first company from the Balkans to work directly with Deutsche Telekom. Having in mind that it is the largest Telco operator in Europe, owning regional telecommunications players in the Balkans as well, it is clear there is plenty for us to do with such a strong partner. ‘Open Balkans’ initiative is symmetrical with our work. TeleGroup is regionally orientated since its inception. It is our strong belief that market consolidation brings greater opportunities and ensures the better flow of goods and services to everyone.
REGIONAL NEWS
“We have started natural gas production from a new well on the Ika gas field in the Adriatic Sea” – SÁNDOR FASIMON,
PRESIDENT OF THE MANAGEMENT BOARD OF CROATIAN OIL AND GAS COMPANY INA
THE REGION CAN COUNT ON WHEAT FROM SERBIA
The agreed quantities of wheat and corn, before the export ban, will be realized as soon as possible, and the countries of the Open Balkans Initiative and other neighboring countries can count on Serbia as a reliable partner in times of great challenges in the food sector. This was announced at a meeting attended by Serbian Deputy Prime Minister and Minister of Agriculture, Forestry and Water Management Branislav Nedimović, and Albanian Minister of Agriculture Frida Krifca, based on an agreement between Serbian President Aleksandar Vučić and Albanian Prime Minister Edi Rama.
EU: COMPLETE ENLARGEMENT FOR THE WESTERN BALKANS
This is a sobering moment for Europe and a time when EU enlargement in the Western Balkans should be completed, said EU High Representative for Foreign Affairs and Security Policy Josep Borell after meeting with North Macedonian Prime Minister Dimitar Kovacevski. Borell said that EU accession negotiations with Skopje and Tirana should formally begin as soon as possible. “I know you have certain expectations and rightly so. I hope this may be decided at the next intergovernmental conference”, said Borell, pointing out that North Macedonia and the entire region are a strategic priority for the EU.
PROTOCOL ON COOPERATION BETWEEN BELGRADE AND BUDVA SIGNED
The Tourist Organization of Belgrade (TOB) and the Tourist Organization of Budva signed a Protocol on Cooperation in the Field of Tourism, which formalized long-term friendly and professional cooperation between the two most important tourist organizations in Serbia and Montenegro, the TOB said. It is specified that, based on the Protocol, the two tourist organizations will intensify cooperation in the field of tourism, catering, culture, and sports, work on improving tourist exchange, and develop the overall tourist offer of the signatory cities.
“Bulgaria may end its dependence on Russian gas by 2027” – BORISLAV SANDOV, ENVIRONMENT AND
WATER MINISTER OF BULGARIA
BULGARIA AND SERBIA CREATING JOINT TOURIST OFFER
Creating a new joint tourist offer, based on cultural and historical heritage, would significantly accelerate and improve the tourism sector of Serbia and Bulgaria, concluded the Minister of Trade, Tourism, and Telecommunications in the Government of the Republic of Serbia Tatjana Matic and the Minister of Tourism of Bulgaria Hristo Prodanov. ministries at the 43rd International Tourism Fair. The topic of the meeting was determining the regions and areas in which cooperation within the historical and cultural heritage can be established, based on the signed Memorandum of Understanding from 2019, and joint participation in crossborder programs and projects.
ORANGE ROMANIA ENVISAGES INVESTMENTS OF EUR 200 MLN PER YEAR
Orange Group announces that it will invest over EUR 200 mln per year in Romania after taking over Telekom Romania’s fix-line business, Ziarul Financiar reported. French telecom group Orange has a long-term plan for the Romanian market and includes accelerating investments in the local market in order to maintain its leading position in mobile telephony and to gain ground in the area of fixed services, representatives of the top management of the group but also of the local subsidiary said during a press conference organized in Bucharest, six months after the completion of the acquisition process of Telekom Fix. The transaction amounted to almost EUR 300 mln.
The government of Slovenia has issued a regulation on electricity self-supply from renewables that will abolish the net metering concept for solar systems that will be put in place from 2024 in line with an EU directive. The regulation also guarantees new ways to get incentives for electricity self-sufficiency, a move that comes after several NGOs urged this. The regulation, adopted at the government session, also introduces a new regime for self-supply generators with a connection capacity of less than 50 kilowatts. The connection procedure has been streamlined for the owners of such installations, the Government Communications Office said.
An ever-increasing number of women are taking on prominent positions in society. Their efforts are permanently changing the world for the better, and many of them are an inspiration for new generations of girls to be even bolder in fighting to realise their dreams
The HR director of the Bambi company, Jelena Vuković, emphasises that a society of equal opportunities is not merely an ideal towards which we’re striving, but rather a business and life philosophy that we must all work honestly towards achieving together.
Your company’s best-known brand, Plazma, is using the campaign “Equality comes from the home”, to direct public attention towards gender inequality on the economic, political and social fronts. How can gender stereotypes be overcome?
Knowledge is an engine of progress and change. That’s why it’s the strongest asset in the fight to overcome all stereotypes. Lifelong education on gender equality, with a special focus on younger generations, creates space to develop a better understanding of this problem and, ultimately, to overcome it. Of course, it isn’t enough for us to only discuss gender equality once a year, while commemorating a holiday dedicated to women. The position of women in society, along with their economic and social empowerment, must be a ubiquitous theme, both in public and within families, which represents the foundations of a healthy society, the stability and values of which – such as respect, appreciation and equality – should serve as a model for the generations of girls and boys who will shape the future of this world. Only continuous public discourse, alongside the educating of young people about the importance of equality, can contribute to us living in a more just and equal reality, free of any kind of discrimination.
How does Bambi impact on the empowerment of the women in its ranks?
We can boast of having a truly impressive number of wonderful women in our ranks, whose energy, knowledge and selfconfidence make us very proud. It’s important to us that all our female colleagues know that the company stands behind them strongly, which is why we try to constantly provide them with opportunities for personal advancement and development. Simultaneously, both within our organisation and externally, we promote and celebrate their versatility, achievements and professional dedication, because we know that they’ve exerted maximum effort to ensure that the company’s results are at an enviable level. Women currently hold 47 per cent of managerial positions in our company, while our goal is for that to quickly reach 50 per cent. That percentage certainly isn’t as important as an equal chance for development, regardless of gender and with evaluations based solely on performance and capability.
Considering that you hold a senior management position at Bambi that brings with it great responsibility, how do you personally strike a balance between your professional and private life?
Apart from good personal organisation and the setting of priorities, one great advantage is certainly the working flexibility provided by the company, but also the understanding and support of colleagues that I can always count on. The fact that we are extremely dedicated to one another and to the building of strong teams that – regardless of gender, position or years of experience – support each member in developing their full professional potential, while at the same time respecting their time for personal life, makes us feel good in our workplace and maintains our enthusiasm to always strive for improvement.
What advice would you give to women who are just beginning their careers?
When you look around you, you’ll spot an entire array of wonderful and amazing women who achieve fantastic results in all fields and astound us with their charisma and competence. What’s particularly impressive is their fearlessness when it comes to imposing themselves and making their mark in a “man’s world”, and hidden behind that strength stand years of investing in knowledge and education. That’s precisely why I always encourage my female colleagues to believe in themselves and work on their own development, because we are the ones who break down barriers and set boundaries. So, everything’s up to us, and the only thing that counts at the end of the day is the effort you’ve exerted to create a world that’s tailored to you.
Time For Changes
Peđa Petronijević began his career as an engineer working on one of the biggest projects in Botswana, while today he is chief development officer and a management board member at real estate development company GTC. Speaking for CorD Magazine, he says that he’s motivated to contribute to the company’s further development in his new role, by leveraging his own versatile experience
The real estate market has been blooming for the past seven years and that trend will continue, says GTC’s newly appointed CDO, who insists that GTC will remain focused on office buildings, though with a greater emphasis on sustainability and ESG indicators.
Could you have even dreamt of such an impressive development path back when you were merely a student of mechanical engineering?
I’ve always been motivation-driven, since my college days. As a self-starter, I had enough courage and luck to kick off my professional career abroad, which steered me to where I am today. It’s been a dynamic path – through different countries and the organisations with which I’ve worked – the key to which has always been to keep advancing. Even now, as CDO and a Management Board Member at GTC, I continue to progress, particularly when I’m motivated to contribute to the development of the company, by leveraging my own versatile experience.
During the 10 years that you served as the CEO of GTC Serbia, the company completed the construction of 10 business buildings in Belgrade. Are you proud of the way the city looks today, the credit for which belongs – among others – to you at GTC?
GTC is a pioneer of office construction in Belgrade. We’ve been shaping the business image of the city with our landmark projects for over a decade. We have a legacy in Belgrade, but now it’s time for changes. This year we finalised the sale of 11 premium class office buildings in Belgrade, encompassing a total GLA [gross leasable area] of 122,175m2, with high occupancy rates. The sale price was €267.6 million, which was two million euros above the book value – representing one of the largest real estate transactions on the CEE market during the last five years. The sale of our Serbian portfolio couldn’t be timelier, as we are redefining our market strategy and advancing operations to be more sustainable and futureproof. Selling some of our assets and relocating the free cash flow for the development of brand new, ambitious projects in Serbia and other CEE markets was truly an “exit on a strong note”. Such a bold move allowed us to complete our development cycle in Serbia and start a fundamentally different chapter on this market. And I’m truly grateful to be part of that.
In your capacity as the newly appointed CDO, where do you see GTC in five and ten years? In which direction will the company develop?
As for the Group, there are three projects under construction: Pillar office in Budapest (29,000sqm); Sofia Tower 2 office (8,300 sqm), and GTC X in Belgrade (17,000 sqm). As of 31st December 2021, projects under construction comprise nearly five per cent of our total portfolio value. Another four office buildings and
We this year finalised the sale of 11 premium class office buildings in Belgrade, encompassing a total GLA of 122,175sqm, with high occupancy rates
one residential project of 151,000sqm are ready to be launched within 24 months: Matrix C office in Zagreb (10,700sqm), Advance Business Centre 3 in Sofia (9,100 sqm), Centre Point 3 in Budapest (36,400 sqm), Napred in Belgrade, (72,000 sqm) and the Spatio residential project in Bucharest (23,100 sqm). Our rich commercial landbank designated for future development allows us to extend the planned projects in areas where there will be demand for commercial properties. I see our “new history” written in close cooperation with principal stakeholders – investors and tenants – their priorities, comfort and input becoming the compass to navigate GTC through any of tomorrow’s uncertainties.
WORLD NEWS
“To unlock their full potential, brands are going to have to start creating utility via the token” – MATHEW SWEEZEY, DIRECTOR OF MARKET
STRATEGY AT SALESFORCE
FOOD PRICES JUMP 20.7% YR/YR TO HIT RECORD HIGH IN FEB, U.N. AGENCY SAYS
World food prices hit a record high in February, led by a surge in vegetable oils and dairy products, to post a 20.7% increase year-on-year, the U.N. food agency said. The Food and Agriculture Organization’s (FAO) food price index, which tracks the most globally traded food commodities, averaged 140.7 points last month against a downwardly revised 135.4 in January. That figure was previously given as 135.7. Higher food prices have contributed to a broader surge in inflation as economies recover from the coronavirus crisis and the FAO has warned that the higher costs are putting poorer populations at risk in countries reliant on imports.
RUSSIA WILL ‘ALWAYS’ BE A PART OF OPEC+
The United Arab Emirates’ energy and infrastructure minister has insisted that Russia will always be a part of OPEC+ even as governments across the globe shun the oil exporter over its war in Ukraine. Speaking to CNBC, Suhail Al Mazrouei, a former president of the oil alliance, said no other country could match Russia’s energy output and argued politics should not distract from the group’s efforts to manage energy markets. “Always, Russia is going to be part of that group and we need to respect them,” he told Hadley Gamble at the Atlantic Council’s sixth annual Global Energy Forum in Dubai.
HUAWEI LAUNCHES A RIVAL TO THE AMAZON KINDLE
Huawei launched a slew of new products including a rival to Amazon’s Kindle, as the Chinese tech giant looks to inject life into its consumer business that has been hurt by falling smartphone sales due to U.S. sanctions. The Huawei MatePad Paper is the company’s first e-reader device and features a 10.3-inch display. Huawei is positioning this as a product useful for the work environment. It is compatible with the Huawei M-Pencil, which can be used across other products. Huawei said that writing on the MatePad Paper with the electronic pencil feels like writing on actual paper due to the slight bit of friction and the sound given off. Users can convert handwritten notes into text as well.
“We think that if we do our jobs right, it will drive decentralization” – THOMAS KURIAN, GOOGLE CLOUD CEO
APPLE REPORTEDLY CUTS PRODUCTION OF ITS NEW IPHONE SE BY 20%
Apple is scaling back production of its new budget iPhone SE due to weaker-than-expected demand, Nikkei Asia reported. The company has reportedly asked suppliers to cut production of the iPhone SE, its new $429 budget 5G phone, by about 2 million units to 3 million units, or about 20% of the initial orders, according to the publication. Apple also reduced orders for AirPods by about 10 million units for full-year 2022, according to the report. This production decrease is a sign of the Ukrainian war and inflation’s negative impact on electronics demand. The iPhone SE isn’t as popular as Apple’s more expensive iPhones. According to Counterpoint Research, the 2020 version of the iPhone SE accounted for 12% of all iPhone sales from its launch until Q4 2021.
HUAWEI LAUNCHES A RIVAL TO THE AMAZON KINDLE
Huawei launched a slew of new products including a rival to Amazon’s Kindle, as the Chinese tech giant looks to inject life into its consumer business that has been hurt by falling smartphone sales due to U.S. sanctions. The Huawei MatePad Paper is the company’s first e-reader device and features a 10.3-inch display. Huawei is positioning this as a product useful for the work environment. It is compatible with the Huawei M-Pencil, which can be used across other products. Huawei said that writing on the MatePad Paper with the electronic pencil feels like writing on actual paper due to the slight bit of friction and the sound given off. Users can convert handwritten notes into text as well.
ZOOM PROVIDES DISAPPOINTING REVENUE FORECAST
Zoom issued a weaker-than-expected revenue forecast for the first quarter and full fiscal year. Shares of the video-chat software maker, which posted its fiscal fourth-quarter results, initially sank as much as 13% in extended trading before rebounding. Zoom’s revenue increased 21% from the year-earlier period ended on 31 January. That’s a deceleration from 35% growth in the prior quarter, according to a statement. Zoom said it had 509,800 customers with over 10 employees at the end of January, down from 512,100 in October. It plans to stop reporting that number as of this quarter, though the figure will still show up in its investor deck through the end of the year.
