H.E. Mohamed Abdallah Namoura Ambassador of the State of Palestine
JUSTICE IS THE SOURCE OF TRUE OPTIMISM
INTERVIEW
Ivanka Popović
former Rector of the University of Belgrade, Vice-President of the European University Association (EUA) and one of the leaders of the ProGlas movement
We Need Global S olidarity
Milojko Arsić full professor at the University of Belgrade Faculty of Economics, corresponding member of the Serbian Academy of Sciences and Arts
From the Beginning of Time to Eternity Art: Paradigms of Paradisiacal Images in Late Antiquity
Bridging Business Across Adria
YASIR AL-RUMAYYAN
Governor of Public Investment Fund of Saudi Arabia
former Rector of the University of Belgrade, Vice-President of the European University Association (EUA) and one of the leaders of the ProGlas
All rights reserved alliance international media 2025
COMMENT
The Messages of Notre-Dame
By Sneška Quaedvlieg-Mihailović, Secretary General of EUROPA NOSTRA
The case of Notre Dame tells us to place our humanity and culture at the very heart of the much-needed transformation of our society, based
n 7th and 8th December, French President Emmanuel Macron invited leaders from Europe and beyond, including the Federal President of Germany and the U.S. President-elect, to Paris. This occasion saw the world pay tribute to the courage and dedication of the firefighters of Paris who saved the Cathedral from total destruction back on 15 th April 2019, and to the impressive savoir-faire of the 2,000 heritage professionals and craftsmen and artists from many different disciplines who completed the seemingly impossible possible of resurrecting Notre-Dame in five years! Of course, such a triumph would not have been possible without the vision, audacity and support of President Macron and the unprecedented generosity of 340,000 donors – big and small – not only from France, but also from 150 other countries. The Government
Oon principles of sustainability and inclusion
of Serbia also provided a gesture of solidarity with France and Notre-Dame by donating the sum of €1 million, while its current prime minister attended the 7th December opening ceremony.
I had the honour and joy of experiencing the superb result of this heritage “chantier du siècle” during a special service held by the Archbishop of Paris on 11th December to express gratitude for the many donors. Notre-Dame’s renaissance has sent a message of solidarity and hope to people across France, Europe and the World. It has also demonstrated the huge unifying and healing power of cultural heritage for citizens and their communities. The case of Notre-Dame tells us to place our humanity and culture at the very heart of the much-needed transformation of our society, based on principles of sustainability and inclusion.
Notre-Dame also sends a strong message of encouragement to all the experts and members of civil society in Serbia who are dedicated to saving this country’s rich cultural heritage, wheth-
Investing in the protection of cultural heritage isn’t a luxury, but rather the best investment in a sustainable future
er built or natural, tangible or intangible. That heritage is today threatened by various forms of unsuitable and unsustainable development projects, as well as by an unacceptable lack of respect for the rule of law: from the ongoing campaign to protect the Belgrade Fortress to the more recent mo-
bilisation of experts and civil society in defence of the Generalštab [Army General Staff HQ], an iconic 20th century building in the historic centre of Belgrade that represents a masterpiece of Modernist architecture and was designed by renowned architect Nikola Dobrović.
Like the immense significance of Notre-Dame for France and its people, these and many other heritage sites are vital to the DNA of Serbia and to the cultural identity, sense of pride and belonging of its people. It is also an invaluable resource for improving quality of life and the environment in Serbia, as well as a key asset for the promotion of sustainable tourism in the country and the wider region. For this reason, the public authorities at all levels of governance ought to make preserving the authenticity and integrity of the country’s cultural heritage a much higher priority. This heritage is also the best proof of Serbia’s strong historical and cultural links with the rest of Europe, across time and borders. Investing in the protection of cultural heritage is therefore not a luxury, but rather the best investment in Serbia’s sustainable future and full integration into the European Union.
Serbia’s rich cultural heritage urgently needs a nationwide strategy, a true “Cultural Heritage Deal” that recognises the multiple values and benefits of cultural heritage and duly involves experts and civil society in its renaissance, based on principles of the quality of life defined in European and international Conventions that would benefit the public interest of present and future generations.
Detail of the Generalštab building, Modernist masterpiece by the Internationally renowned architect Nikola Dobrović, which was damaged during the NATO bombing in 1999.
Large number of experts and civil society organisations, including Europa Nostra, have been advocating the need for the reconstruction of this building in accordance with its protected legal status and in line with the highest standards of heritage and architecture practice.
Photo credit:
Courtesy of Europa Nostra Serbia
The Importance of a Broader Political Message
The fundamental reasons for the scepticism towards Serbia are Belgrade’s relations with Russia and China, the stagnation and even deterioration of relations with Kosovo, as well as poor progress in ful lling obligations from Cluster 1, which encompasses the rule of law, media freedom and the ght against crime and corruption ~ Tonino Picula
By Ljubica Gojgić
Tonino Picula MEP
European Parliament Rapporteur for Serbia
Tonino Picula, a Croatian diplomat and long-serving Member of the European Parliament, has been appointed as the new EP Rapporteur for Serbia. He says that his main goal will be “pursuing work in good will”. Speaking in his first interview with CorD Magazine, Picula adds that his role as a rapporteur has been defined by the rules of procedure of the European Parliament and the expresses his hope that he will be able to cooperate successfully with all relevant actors – from politicians and civil sector, to the business community and academia.
The European Commission recently confirmed, for the fourth time, that Serbia has met all technical conditions for the opening of Cluster 3. However, and despite this, the EU has once again delayed this step in response to opposition from eight member states. Given that key EU countries like Germany, France and Italy support Serbia’s progress, do you believe the EU will soon reach a consensus? What is needed to overcome the remaining political obstacles? — The opposition of some member states can be viewed primarily through the general political will regarding this step. The opening of the cluster is not only closely related to the areas concerned, but rather the broader political picture is, of course, taken into account, as it also sends a broader political message. There are several reasons why this happened. In recent months, Serbia has participated in the BRICS summit with its representatives, while the country’s prime minister met with the Russians during the visit of President Von der Leyen. Therefore, the issue of sanctions against Russia, alignment with CFSP/CSDP, and a lack of progress in the dialogue with Kosovo, are all causes of concern. These are all serious commitments that must be implemented at some point, as many member states will continue to insist on these very issues. I hope that Belgrade’s response will be to work on strategically im -
portant reforms and not just another tactic to avoid them.
How do you view the current dynamics of negotiations between Serbia and the EU, and what key reforms do you expect Serbia to implement in order to advance on its accession path?
— There are no encouraging signs to prompt more positive assessments thus far. Let us not forget that Serbia’s path to the EU has been stagnant for literally three years now, as the last chapters were opened at the end of 2021. The problem of compliance with EU foreign policy and sanctions against Russia will not disappear.
I am closely monitoring the sociopolitical situation in Serbia, particularly in the context of the recent tragedy in Novi Sad, for which citizens are rightly demanding accountability
Accordingly, there is the question of Belgrade’s geopolitical orientation, as well as the lack of progress in relations with Kosovo. As for internal political aspects, there is first of all the rule of law and media freedom. These are all key parameters for progress in accession negotiations. These obligations, especially as regards the reform agenda, must be implemented, because EU member states will continue to insist on these issues.
Do you share the view that the acceleration of Serbia’s accession depends solely on the introduction of sanctions against Russia and the normalisation of relations with Pristina?
— So, the fundamental reasons for the scepticism towards Serbia are Belgrade’s relations with Russia and China, stagnation and even deterioration in relations with Kosovo, as well as poor progress in fulfilling obligations from Cluster 1, which encompasses the rule of law, media freedom and the fight against crime and corruption.
CLUSTER 3
The opposition of some member states can be viewed primarily through the general political will regarding this step
EU PATH
Let us not forget that Serbia’s path to the EU has been stagnant for literally three years now, as the last chapters were opened at the end of 2021
PROGRESS
Progress on the EU accession path depends not on me, but primarily on the behaviour of the Serbian authorities, because the criteria and objectives are very clear
I believe that every country striving to join the EU has to take seriously the need for full alignment with EU policies, particularly sensitive ones and those that said country has accepted as a commitment. This is something that it’s impossible to ignore or marginalise on the path towards the EU. But more than that, the latest European Commission report contains arguments that cannot be reduced only to Kosovo and Russia. These arguments are clearly indicated as reasons why Serbia’s EU accession journey is stagnating. First of all, internal conditions in Serbia and problems with the rule of law, the media and the lack of reforms dictate Serbia’s pace towards the EU. There is also the issue of har-
monisation with the common foreign and security policy, which isn’t merely a matter of imposing sanctions on Russia, but also covers relations with third countries, visa policies etc. Quite simply, Serbia’s road to the EU is long and this is a project that takes time.
How would you assess the current situation regarding the rule of law in Serbia, and which areas do you think should be improved further in order for the country to achieve European standards?
— In line with the European Commission report, I am not satisfied with the current situation and the limited progress, if any, achieved. I believe there is much room for improvement. Furthermore, I am closely monitoring the sociopolitical situation in Serbia, particularly in the context of the recent tragedy in Novi Sad, for which citizens are rightly demanding accountability. I believe it’s difficult to expect any major progress from the authorities in Serbia in the near future following their frequently offensive behaviour, which is applied not only to internal political opponents, but also to European politicians. The videos of the fight from the Assembly were disturbing, and were followed by the postponing of the meeting with MEPs in Strasbourg within the framework of our joint parliamentary delegation. I am afraid that it is difficult to be an optimist in such a situation and that major steps are needed to achieve progress.
How do you view Serbia’s role in maintaining regional stability in the Balkans?
— I think Serbia has a crucial role regarding stability in the region,
but its actions often aren’t satisfactorily constructive when it comes to some neighbouring countries, in particular Kosovo, Montenegro and Bosnia and Herzegovina. I believe Serbia needs to engage more as a genuinely positive player in the region, by providing true reconciliation policies and restraining from promoting failed concepts of the “Serbian world” and other nationalist tendencies that dominate tabloid headlines.
Your appointment has prompted much discussion about the direction you will personally take regarding relations between the European Parliament and Serbia. What can we expect?
— Progress on the EU accession path depends not on me, but primarily on the behaviour of the Serbian authorities, because the criteria and objectives are very clear. My role as rapporteur is defined by the rules of procedure of the European Parliament. In this sense, I will try to meet with all relevant political interlocutors, social actors, civil society organisations, local government representatives, business community leaders and academia. I hope for good and inclusive cooperation over the next five years. I will, of course, be pleased if Serbia takes the necessary steps to progress, but this depends primarily on the political will in Belgrade. I am currently preparing my first step – namely preparing a draft report on the situation in Serbia after the Commission presented the candidate country package. From my side, my main goal will be to pursue work in good will and sincere cooperation with all relevant political actors. The rest is up to others.
Citizens Must Demand Change
It is up to the citizens of Serbia to stand up against autocracy and ght for social justice. The authentic student response serves as a key incentive for Serbian citizens to engage in transforming the country into a rule-of-law society
If we were to describe Serbia in one sentence, it would be:
“A revolution in motion”. Horrified by the tragedy that left 15 people dead due to the collapse of the concrete canopy of Novi Sad’s main railway station, for which the culprits have yet to be identified, students have inspired citizens from all walks of life to demand decency, institutions that fulfil their potential, and empathy. We discussed what makes the massive demonstrations across the country so unique with Ivanka Popović, a former rector of the University of Belgrade, current vice-president of the European University Association (EUA) and one of the leaders of the ProGlas movement, a major citizen movement for a democratic Serbia.
What makes students a decisive force in democratic changes in Serbia, both in 1996 and today?
Ivanka Popović
former Rector of the University of Belgrade, Vice-President of the European University Association (EUA) and one of the leaders of the ProGlas movement
— Within any society, including ours, students are the most sensitive to injustice and apathy. They have been witnessing both throughout most of their lives. An instant response was triggered by the authorities’ initial denial regarding the tragedy in Novi Sad, stating that there was no reconstruction of the canopy at the train station in Novi Sad, and the fact that
I truly believe that there is no part of Serbian society that has been spared by the ruling party over previous years
recognised members of the ruling party attacked students of the Faculty of Dramatic Arts in Belgrade during their peaceful commemorative service for the victims of the tragedy. This response was immediately recognised as legitimate and necessary by other university students in Serbia. Their reaction was more than just a response to injustice. It became obvious to them that their own safety, in every sense of the word, as well as the safety of their loved ones, is at risk in Serbia. They also recognised that this condition is the result of institutions being denied their constitutional right to be independent and that they are in the exclusive service of the ruling party. This painful realisation drove them to action. This authentic response of the students represents a key incentive for Serbian citizens to become more engaged in
transforming our country into a society that abides by the rule of law.
Do you see it as a movement of young people striving to live in a country with normal values, or also as a movement of future professionals—a voice that was notably absent from the scene?
— I think both aspects are relevant. Normal values and rule of law are a prerequisite for every aspect of our life, including the professional one. Young people have for years been witnessing the disregard of knowledge in favour of party loyalty and corruption. This approach has now literally led to a downfall, with the tragedy in Novi Sad being an extreme case. These circumstances provide a very uncertain future for us all. I believe that young people in our country, and not only students, are willing to fight for a better future. Our youth have been lulled into the belief that they cannot make a difference in society. They have now found their voice and are dedicated to their cause. They will hopefully be open to working together with others to achieve their goals.
What might this movement, which is largely supported by professors and heads of faculties and universities, mean in terms of strengthening the position of educators in Serbia, who have been undervalued for decades?
The EU’s transactional relationship with Serbia prioritises stability, with growing concerns about democracy and the rule of law in the country
— Our students are a source of inspiration for many, and they expect and require the support of their teachers. However, the students alone cannot bring about change. University professors represent only a small part of the educational profession that has been neglected and degraded for many years. Educators, together with other professionals facing similar challenges, have the opportunity to join the students. In other words, the time has come for citizens to make their voice heard and
to actively engage in re-introducing the rule of law to Serbia.
As one of the founders of ProGlas, which has initiated a number of rallies across Serbia, which groups do you identify as being missing from the debate and protests? More professional associations, unions, students’ parents and grandparents?
— I truly believe that there is no part of Serbian society that has been spared by the ruling party in the previous years. We have witnessed the transformation of a government for the people to a people serving the interests of the government. That’s why ProGlas and its members have launched of new round of discussions and events, engaging with citizens all across Serbia in the hope that people from all walks of life will overcome their fears and actively engage in societal change by any legal means available to them.
Your recent lecture highlighted the ineptitude of EU institutions in addressing the situation and the collusion of member states with increasingly autocratic leaders in our region. Is this still the case today? Does the European University Association, of which you are a vice president, have the space to react?
— It would seem that the European Union has chosen a transactional relationship with Serbia that maintains the illusion of stability in the region as Europe faces other challenges. This support of stabilocracy has serious drawbacks and we are just starting to hear European concerns about the state of democracy and the rule of law in Serbia. On the other hand, the EU probably does not yet see an alternative partner to the ruling party in Serbia, so we are still a long way from apply any serious pressure to the Serbian government to implement true change. It is up to the citizens of Serbia to stand up against autocracy and fight for social justice. As far as the European University Association is concerned, it is an academic organisation that engages in policies and not politics.
Global Diary
Scholz Faces No-Con dence
Vote in Germany
German Chancellor Olaf Scholz is confronting a vote of no confidence, a move that could trigger early elections and reshape the country’s political landscape. The vote comes amid growing dissatisfaction with his coalition government’s handling of key issues, including energy policy and economic challenges. Political observers are closely watching as the outcome may significantly impact Germany’s leadership and stability.
The way to get started is to quit talking and begin doing
Walt Disney
Israel Intensi es Strikes Amid Cease re Talks
Israel has ramped up airstrikes in Gaza, resulting in 13 Palestinian deaths overnight, even as ceasefire talks mediated by U.S. and Arab officials gain momentum in Egypt and Qatar. The negotiations aim to end a 14-month conflict, with proposals including prisoner exchanges. Meanwhile, Israel launched airstrikes in Yemen’s rebel-held areas following a Houthi missile targeting central Israel, escalating tensions in the region. Human Rights Watch has also accused Israel of “acts of genocide” in Gaza, allegations that Israeli officials have strongly denied.
Drone Sightings Spark Panic in U.S.
Unexplained drone sightings across New Jersey, U.S., have caused public alarm, with residents reporting dozens of unidentified flying objects over neighbourhoods and public spaces. The sightings have led to increased calls for tighter drone regulations as concerns grow over potential privacy violations and security risks. State officials are investigating the incidents, but no official explanations have been provided. Some speculate the drones could be part of unauthorised private or commercial operations.
If you judge people, you have no time to love them
Mother Teresa
Assad Regime Falls in Syria
Bashar al-Assad’s regime has been overthrown following weeks of nationwide protests and unrest, marking a pivotal moment in Syria’s history. Fueled by economic hardships and demands for democracy, the uprising ended Assad’s two-decade rule, leaving the nation at a crossroads as global leaders call for stability and a peaceful transition.
AI Innovations Rede ne Industries
December 2024 has seen remarkable AI advancements, from Google’s Gemini 2.0 model redefining multi-modal capabilities to the UK trialling AI cameras detecting impaired drivers. Meta launched “Meta Motivo” to enhance realism in the Metaverse, while Apple explored partnerships with Tencent and ByteDance to integrate AI into iPhones sold in China. These developments highlight AI’s transformative impact across technology, safety, and virtual interactions.
ECB Updates Economic Outlook
The European Central Bank has released updated economic projections, forecasting inflation at 3.2% for 2025, above its 2% target, alongside moderate growth driven by resilient consumer spending. While highlighting risks such as geopolitical tensions and energy price volatility, the ECB emphasised its commitment to stabilising inflation and supporting recovery, with financial markets reacting cautiously to the outlook.
A Call for Peace
After 14 months of brutal armed con ict, Israel’s leadership and Palestine’s Hamas are expected to soon sign an agreement on a cease re and the release of Jewish hostages held for over a year.
Positive indications exist, though the two sides have yet to agree on all the provisions of the cease re, which would unfold in three phases, according to a precise schedule, and would last for between six and eight weeks
As we prepare to welcome 2025, CorD Magazine reached out to the ambassadors of Israel and Palestine to request messages of hope and encouragement. Such messages serve as a reminder that, even amid profound divisions, the universal longing for peace, understanding and humanity endures.
AH.E. Avivit Bar-Ilan Ambassador of Israel to Serbia
Future of Hope and Prosperity
I dream of 2025 being the year in which the people of Lebanon and Gaza break free from the chains of terror organisations Hamas and Hezbollah, which have held them hostage for so long
s I look ahead to 2025, I hold tightly to the hope that humanity’s resilience and courage will guide us through the challenges we face. At the forefront of my mind are the 101 hostages, including Serbian-Israeli Alon Ohel, who were cruelly taken by Hamas. Their safe return remains our nation’s deepest hope, and we will not rest until they are reunited with their loved ones.
I am inspired by the strength and resilience of the Israeli people. Despite the rockets from Gaza and Lebanon that have forced thousands from their homes, they continue to stand as one. I look forward to the day when these families can return safely and rebuild their lives, their communities, and their futures. I am deeply inspired by the courage of Israeli women from all segments of society, whose determination and strong spirit serve as a beacon of hope and a source of strength in these challenging times.
Even in the face of adversity, Israel’s spirit of innovation, culture and scientific achievement remains unstoppable. I am proud to witness how this commit-
ment to progress drives us to create a better world for our children and future generations.
Yet, my greatest hope extends beyond borders. I dream of 2025 being the year when the people of Lebanon and Gaza break free from the chains of terror organisations Hamas and Hezbollah, which have held them hostage for so long. I hope they will choose a fu-
True freedom comes not only from external liberation, but from the courage to pursue a brighter future
ture of hope and prosperity for their children above all else. True freedom comes not only from external liberation, but from the courage to pursue a brighter future.
Optimism is a powerful force. And as I reflect on the year ahead, I am confident that we can overcome challenges, rebuild and strive for a future in which Israelis and Jewish communities around the world can live in safety and peace.
H.E. Mohamed Abdallah Namoura, Ambassador of the State of Palestine to Serbia
Justice is the Source of True Optimism
From my standpoint, just as injustice causes pessimism to spread, so justice is the source of all true optimism
Optimism should first and foremost be built on will. Despite being subjected to unprecedented injustice for 76 years, including massacres, forced displacement, arrest, demolition and destruction, our people have a strong will that strengthens their steadfastness and devotion to their land and struggle.
Apart from injustice itself, the greatest evil is when the oppressor does not pay the price for his injustice and escapes punishment. The international community must put an end to impunity for genocide and atrocities committed by the fascist Israeli occupation army in Palestine.
There are things that cause the wheel of justice to turn faster, such as the ICC warrants issued for the arrests of Netanyahu and his ex-minister of war Gallant.
The ICJ has also accepted the lawsuit filed against Israel by South Africa. The ICJ was clear in stating that Israel’s occupation of the Gaza strip and the West Bank, including East Jerusalem, is unlawful, along with the associated settlement regime, annexation and use of natural resources. Amnesty International has also accused Israel of committing genocide against Palestinians in Gaza.
The more justice the world sees, the more peace there will be. Justice is achieved by returning rights to those who should possess them and by punishing oppressors.
The Palestinian people are struggling against a settler occupation that has an ideology defined by injustice, slaughter, arrogance, uprooting, destruction, forgery and lies.
I am optimistic, and indeed certain, that justice will prevail and that our people will regain their rights
I am optimistic, and indeed certain, that justice will prevail and that our people will regain their rights, most notably through the creation of a fully sovereign Palestinian state with East Jerusalem as its capital, as a full member of the United Nations, and the return of Palestinian refugees in accordance with UN General Assembly resolution 194.
“The darker the night, the clearer it becomes that the dawn is coming soon” ~ Yasser Arafat FREE PALESTINE!
INTERVIEW
EXCLUSIVE
The End of a Remedy
Growth in domestic demand will be the main driver of Serbia’s economic growth over the coming year, which isn’t sustainable over the long run for a small and open economy like Serbia’s, due to rising public and external debt
Milojko Arsić
full professor at the University of Belgrade Faculty of Economics, corresponding member of the Serbian Academy of Sciences and Arts
and the start of the next naturally provides good reason to wonder what awaits us over the year ahead. Standing out among the key challenges in 2025 are the ongo-
of new global economic centres like Adding to this multitude of issues are
Russia and China. Here CorD Maga-
and, consequently, Serbia’s own economy?
— Exports of goods from the EU to the U.S. totalled a value of 502 billion euros in 2023, which was close to 20% of all EU exports. In accordance with that, the U.S. is collectively the largest export market for EU countries. Over that same year, the U.S. exported goods worth 347 billion euros to the EU, representing close to 17% of U.S. exports – and only Canada and Mexico represent a similar share of the U.S. export market. aside from this, the EU and U.S. have a high volume of service sector trade, as well as major mutual capital investments.
The possible introduction of tariffs on products exported from the EU to the U.S. would have a negative impact on the EU economy, which is stagnating anyway. The EU has been exposed to negative shocks over the last few years, which have caused the EU economy to stagnate, while some member states are even in recession. The EU has reduced its exports to Russia significantly over recent years, which has also impacted its economy negatively, while rising energy prices have reduced its competitiveness further. The EU is confronted by structural problems, such as labour shortages and lagging behind China and the US in terms of technological innovation. Any further deterioration of the EU’s economic situation would impact Serbia’s economy negatively, as the EU is Serbia’s chief economic partner, whether it comes to trade or FDI. Approximately 60% of Serbia’s trade is conducted with the EU, while the EU is the biggest investor in Serbia.
Although introducing high tariffs on EU exports at this time would impact both the EU and Serbia negatively, it’s possible it won’t happen because such a policy would also have serious negative ramifications for the U.S. economy. President-elect Trump’s possible introduction of high tariffs on imports from the EU, China, Mexico, Canada and other countries would cause inflation to rise in the U.S. Likewise, the noted countries would certainly apply countermeasures in terms of introducing their own tariffs on products from the U.S., which would cause American exports to fall and threaten U.S. jobs.
Considering the difficulties afflicting the automotive industry and the extent to which it is represented in the Serbian economy, what could the possible ramifications be for employment levels in Serbian factories?
— The negative impact on Serbia of the situation in the European automotive industry has so far been reflected
in the delay to the start of production of electric Panda cars in Kragujevac. When it comes to Serbian companies that produce auto parts, it is estimated that they will be impacted in the case that the European auto crisis becomes deeper and protracted. Although such a possibility isn’t out of the question, the chances are that improving cost efficiency will improve the situation for the European auto industry. If the crisis is short-lived, auto parts makers likely won’t be impacted, because production in Serbia is among the cheapest in Europe.
Could public investments envisaged for 2025 lessen the possible negative impact of falling exports and FDI on GDP?
— The main drivers of Serbia’s economic growth over the past few years
The reducing relative importance of Europe to the world economy – its technological straggling in important areas and problems in the functioning of the EU –impact on redirecting Serbia towards cooperation with nonEuropean countries
have been high FDI and high public investments. Planned public investments for the year ahead are slightly higher than in previous years, while the relatively high growth of private spending is also planned. As such, in the year ahead it is planned for rising domestic demand to be the main engine of growth for the Serbian economy, which isn’t sustainable over the long run for a small, open economy like Serbia’s, as a result of the growth of public and external debt. The positive effect of public investments on Serbia’s economy will also be somewhat limited due to largely foreign companies being engaged in their implementation, while ever-more foreign workers are also being hired. The long-
term impact of public investments on the economy is less certain, because that depends on how effectively the facilities built with these investments (highways, stadiums, exhibition venues etc.) are utilised.
What are the key challenges of such an approach from a fiscal policy perspective?
— There are several challenges when it comes to using public investments to stimulate the Serbian economy. The first is the fact that public investments are financed mostly through loans, which means increasing Serbia’s public debt, and thus increasing future financing costs. The public debt is starting to negatively impact the sustainability of public finances and the economy despite being below the GDP, because Serbia is borrowing at significantly higher interest rates compared to developed countries. A second problem is that Serbia’s selection and implementation procedures for public projects deviate markedly from global good practices. Over the past few years, decisions on the implementation of public projects in Serbia have tended to be made without the preparing of economic and social impact studies, which increases the risk of implementing projects that are neither a priority nor profitable over the long term. Finally, the selection of contractors and oversight bodies is predominantly conducted through direct negotiation as opposed to competition procedures, a consequence of which is implementation costs almost certainly being higher than is justified economically, and the quality of work being sub-standard.
To what extent do the challenges confronting Serbia today, as a result of global economic changes, differ from those we faced as a closed economy? What has changed and what has stayed the same?
— Viewed over the long-term, the 2001 opening up of Serbia’s economy to the world has brought an en-
TARIFFS
Although introducing high tariffs on EU exports would impact both the EU and Serbia negatively, it’s possible that won’t happen because of its serious negative ramifications for the U.S.
SUSTAINABILITY
Public debt is starting to negatively impact the sustainability of public finances and the economy despite being below GDP, as Serbia borrows at higher interest rates than developed countries
INVESTMENTS
The positive effect of public investments on Serbia’s economy will also be somewhat limited in future due to the engaging of foreign companies and workers
tire array of benefits to Serbia, such as the possibility to sell local products, and buy cheaper foreign products, on the world market, the influx of foreign capital and modern technologies into the country etc. The inflow of foreign direct investments, representing one of the main drivers of growth and modernisation for the country’s economy, is particularly important for Serbia, which traditionally has low domestic savings. In general terms, the opening up of Serbia’s economy to the world has been one of the key drivers of Serbia’s economic advancement over the past two and a half decades.
With the opening up of Serbia’s economy to the world, the country was exposed to both positive and negative changes in the world economy. As such, for example, the major financial crisis of 2007-2008 resulted in an abrupt halt to inflows of capitals to Serbia, which caused the depreciation of the dinar, followed by rising inflation. Economic activity in Serbia fell in 2009, after which came several years of stagnation. The fact that the crisis came before the end of the first phase of the country’s transition proved particularly unfavourable for Serbia. Similarly, the hike in world energy and food prices, resulting from geostrategic conflicts and an expansive monetary policy pursued by major central banks, triggered rising inflation in Serbia during 2022 and 2023. As an importer of capital, Serbia benefited from the low interest rates on the world market from 2014 to 2022, but also rising interest rates over the last two or three years. Likewise, labour emigration possibilities during a period of high unemployment
If the EU auto industry crisis is short-lived, auto parts makers in Serbia likely won’t be impacted negatively, due to the country’s competitive production costs
eased the pressure on the domestic labour market, though worker emigrations have intensified Serbia’s labour shortage problems over the last few years.
Does linking Serbia’s industry to Europe remain the optimal option, or is policy diversification also required here?
— Due to geographic proximity, low transport costs and cultural similarities, Europe will in future continue
to be Serbia’s most important economic partner. However, the reducing relative importance of Europe to the world economy – its technological straggling in important areas and problems in the functioning of the EU – naturally impact on redirecting Serbia towards strengthening cooperation with non-European countries. The economic and technological rise of China and other Asian countries certainly justifies the establishing of cooperation with these countries in industry and other areas. Cooperation with them should serve the function of increasing the prosperity and wellbeing of Serbia, which means all companies doing business in Serbia should respect the country’s laws, including those related to workers’ rights, the environment etc.
Last Chance for the SDGs?
With a generous replenishment, the World Bank’s International Development Association could help lift millions out of extreme poverty, extend opportunities for improved health and learning, and support adaptation to climate change. Unfortunately, some key donors are not carrying their weight
The world is losing a winnable battle. UN Secretary General António Guterreswarns that the 2030 Sustainable Development Goals (SDGs) are on the verge of becoming “the epitaph for a world that might have been.” Can the patient be resuscitated?
Decisions made in the coming days will have a significant bearing on the answer. On December 7, governments will announce their funding pledges for the International Development Association, the branch of the World Bank Group that delivers finance to the world’s poorest countries (with annual per capita incomes below $1,315). IDA replenishment happens every three years, which means that commitments made today span the critical investment period for salvaging the SDGs. Unfortunately, it isn’t looking good, with several key donors failing to pull their weight.
The 78 countries covered by the IDA are where the battle for the SDGs will be won or lost. Home to 500 million people surviving on less than $2.15 per day, they account around for 70% of extreme poverty and over 90% of world hunger. Worse, it is children who are on the front lines. In a recent ODI report, my co-authors and I estimate that
some 257 million children in IDA-eligible countries are growing up hungry, with devastating consequences for their health and educational prospects.
Against this bleak backdrop, access to affordable development finance has been shrinking. Real (inflation-adjusted) financial transfers to Africa from donors have fallen, and rising real interest rates have priced most IDA countries out of sovereign bond markets (or otherwise subjected them to punitively high borrowing costs).
The IDA is the single most powerful multilateral financial weapon in the anti-poverty arsenal. In the last fiscal year, it provided $31 billion in support for member countries and was by far the largest source of development finance for Africa, which benefits from zero-interest grants, concessional loans repayable over 30-40 years, or both.
Such finance is an SDG lifeline, because it is overwhelmingly directed to areas with demonstrated benefits for the poor, such as social protection, investments in child and maternal health, and education. With a generous replenishment, the IDA could help lift millions out of extreme poverty, extend opportunities for improved health and learning, and support adaptation to climate change.
Moreover, for donors seeking value for money, the IDA has a unique advantage: every $1 received can deliver $3.50. The IDA can leverage the World Bank’s AAA credit rating to secure low-interest financing by issuing bonds and lending the proceeds to developing countries. When donors deliver funds through bilateral aid programs or global health funds, the money that comes out mirrors the money that goes in. But the IDA offers a much bigger bang for the buck.
The World Bank has rightly made the case for a major IDA increase. Last year, the bank’s president, Ajay Banga, called on donors to provide more than $120 billion, which would make this replenishment “the biggest of all time.” Sadly, that ambition has faded, with current pledges implying a replenishment of less than $105 billion – smaller than the previous one, in real terms.
The IDA may not be perfect, but it’s the best tool that we have for restoring the hope that the SDGs once instilled. Governments should use it.
By Kevin Watkins, a former CEO of Save the Children UK, visiting professor at the LSE
Business Dialogue
LEADERS’ MEETING POINT
Harrisons’ Treatment for all Harrisons Clients
The Best of “Šapat” is Yet to Come
Mladen Ćirić Director of Šapat Wine Atelier
The renowned Michelin star, representing a global hallmark of gastronomic excellence and hospitality, shone brightly at Šapat Wine Atelier on 17th December, when its Fleur de Sel restaurant was awarded this prestigious accolade; an honour that crowns a year of recognition for this acclaimed restaurant
Šapat also unveiled a new line of red wines at the recent fair Wine Vision by Open Balkan, thus completing its wine portfolio. Šapat Wine Atelier Director Mladen Ćirić notes that 2024 was an exceptionally successful year for the winery, marked by the dedicated work of the entire team, with the Michelin star being the pinnacle of 2024 for a winery that’s brimming with ambitions and plans for the future.
The holiday season is a time of reflection and planning. How do you view the achievements of 2024 and what’s your outlook for the future?
— We’re bidding farewell to a year that was filled with challenges, but also tremendous successes. A great deal was accomplished in 2024 by the team at Šapat Wine Atelier, which is united by a clear vision that has guided us since the beginning.
Apart from completing several infrastructure projects in and around the winery, we devoted significant attention to our wine cellar and technology. Our Šapat restaurant, an exclusive premium casual dining venue, and our fine dining gem that is Fleur de Sel, both established themselves as unique gastronomic destinations – not only in Serbia, but across this part of the world.
Fleur de Sel was recognised by esteemed French gastronomic guide Gault & Millau as the best restaurant in Serbia, while American magazine Wine Spectator awarded its wine list the Best of Award of Excellence.
These accolades underscore the excellent positioning of Šapat even in an international context.
Your winery made a significant impression at the recent Wine Vision by Open Balkan fair. What did you showcase at this event?
— I’m truly proud of our new line of red wines, which has completed our wine portfolio. These wines are the result of the dedicated efforts of our team of oenologists, technolo-
gists and vintners, led by Mladen Dragojlović and Vladimir Hadžić, who managed to capture the essence of the Slankamen terroir and transform it into exceptional wines.
Our premium Atila line has been enriched with the addition of Atila Cabernet, while we introduced a true exclusive for Serbia and this part of Europe with Terol, a wine produced from the rare Teroldego grape variety that’s traditionally grown in northern Italy. This wine, with its unique and intriguing aromatic profile, is produced in limited
batches and will be offered as a true rarity and wine adventure.
Among the novelties are Šapat Cuvee and Nera, both of which are exceptionally high-quality yet accessible wines.
What business achievement makes you particularly proud?
— Undoubtedly the Michelin star, which means a great deal – not only for us, but for Serbia as a whole. I’m delighted that the effort, dedication and passion invested in developing and positioning Šapat Wine Atelier on Europe’s wine map have been recognised beyond our borders.
We’ve entered six foreign markets in just one year. Our wines are selling well, butmore importantly - we’re receiving excellent feedback and comments. Beyond neighbouring countries like Montenegro, Slovenia and Bosnia and Herzegovina, our premium wines are now available in Switzerland, the UK and China.
What is the concept behind Šapat Wine Atelier and what does this winery offer its guests and business partners?
— Šapat Wine Atelier was conceived as a premium winery and strives to achieve the highest standards and quality in every aspect of its operations – something our guests are well aware of. This vision has been fully realised at our restaurants, thanks in large part to our manager, hospitality expert and sommelier Dušan Vranić.
taurants and wine shops, and that is more than sufficient.
Which label from your wine portfolio stands out, and what makes it unique?
— The chardonnay from our premium Atila line was awarded a gold medal by London’s renowned Decanter Magazine, receiving an impressive score of 95 points. This comes as no surprise, given that the unique terroir of our vineyards and the specific soil
Šapat is a premium winery, intentionally small and exclusive, producing around 50,000 litres of topquality wines exclusively from its own vineyards. Once our new vineyard reaches its full yield, we will produce a total of no more than 100,000 bottles annually
The same principle applies to our wine production. Our wines are not mass-produced, nor are they sold in large retail chains. Šapat is a premium winery, intentionally small and exclusive, producing around 50,000 litres of top-quality wines exclusively from its own vineyards. Once our new vineyard reaches its full yield, we will produce a total of no more than 100,000 bottles annually. Our wines are available in select res-
conditions provide an excellent foundation for producing robust, full-bodied and complex wines.
The Atila line is the crown jewel of our portfolio. Atila Sauvignon was awarded 92 points by James Suckling, the world’s most influential wine critic, while our Muscat Bianca received the Best of Show 2023 award at the Mundus Vini competition held in Germany in early 2024.
Additionally, our Atila Cabernet has successfully debunked the misconception that the Fruška Gora region cannot produce high-quality wines of this variety. Quite the contrary!
What’s on the agenda for Šapat in 2025, and which plans do you see as strategic?
— We anticipate a challenging but exciting year ahead. We will launch a new line of wines and present our entire portfolio on a broader front. Moreover, exciting wines are now maturing in the cellars and amphorae of our winery, patiently awaiting their time to debut in grand style.
Despite an unusual harvest and severe drought, grape quality is excellent and all indications suggest the wines will be extraordinary. We have significant work ahead in the vineyards—nurturing the vines, monitoring the aging process of the wines and continuing to advance production.
Our goal is to enrich our offer by introducing a unique spa centre with a pool and accommodation facilities that provide breathtaking views of the Danube. This will undoubtedly become a true haven for hedonism and relaxation, perfectly complementing the exceptional offer of Šapat Wine Atelier.
Harrisons’ Treatment for all Harrisons Clients
Mark Harrison Founder & Principal, Harrisons Solicitors
Mark Harrison is the founder and principal of the rst English Law Firm in Serbia and Montenegro and the rst International Law Firm in both countries
If it wasn’t for a chance encounter with a Yugoslav lawyer at Linklaters back in 1983, Mark Harrison wouldn’t be in Serbia today and we wouldn’t have had his great help to Serbia’s economy over the past quarter of a century. Speaking in this interview, he tells CorD Magazine what led him to open an office here at a time when it seemed as though Serbia would be forever isolated from the rest of the world, but also how proud he is that so many of his loyal colleagues have remained with him since day one. Highlighting his firm’s major deals and transactions, activities in MENA countries and cooperation with the Abu Dhabi Royal Family, he also offers insight into his great plans for the future of Harrisons over the next 25 years.
The end of each year sees results assessed and achievements summarised, but you are this December reflecting on not just the past 12 months, but on a quarter of a century. Has it been 25 challenging yet rewarding years for Harrisons?
— They say that life is a roller-coaster, and the early years of our firm, as well as the recent Covid years, have certainly been a challenge. Seven days after I first opened our office in Belgrade, I received a letter from the local Bar Association that I was persona non grata and should leave Serbia! Over the years, we came to be viewed as helping Serbia’s economy and, for example, having Serbian law degrees recognised by the UK. And then finally, in 2013, I joined the Serbian Bar.
The Covid years were tough for everyone and it was difficult for me from March 2020, as I was stuck in the UK and travel was in-
itially banned and then heavily restricted. I was away from my office colleagues for too long, and everyone needs to be around each other. We are not a work-from-home firm. We enjoy our professional company. We like giving: charity work, particularly BELhospice; undertaking pro bono work and helping various Serbian sports. Finally, when I look back now, 25 years on, I am proud of what we’ve achieved –
namely by being the first English Law Firm in Serbia (and Montenegro) and the first International Law Firm in both countries – something no-one can take away from us. We did it!
You arrived in Serbia in 1999, at a time when masses of people were fleeing the country, and opened an office at a time when it seemed Serbia would never be accepted as part of Europe or the world. What guided you? Did you know something no one else did?
— I am a great believer in fate. My whole life being determined as philosophy was something taught to me at university. If it wasn’t for a chance meeting with a Yugoslav lawyer at Linklaters in 1983, I don’t think I would be here now. I was introduced to the small Yugoslav business community in London (all from Belgrade) and by the late 1980s I reckon I acted for most of the subsidiaries of the large companies in Belgrade, such as Generalexport, Jugometal, Energoproject and Beogradska Banka.
I was an equity partner in a very large UK law firm, but realised I didn’t want to be one partner among 225 partners, but rather I wanted to achieve something different. I knew Yugoslavia well and asked myself ‘why not form the first English Solicitors firm here?’ That became my ambition and I was determined to achieve it.
Unlike all major Serbian Law Firms, we acted on our own as we were international in our own right, regulated and supervised by the Solicitors Regulation Authority and insured with Lloyds of London
Your clients include leading global companies, financial institutions, regional governments and small IT start-ups just embarking on their journeys. Do you strive to provide each of them with a service that exceeds their expectations?
— It is a cliché, but we do aim to give the same professional service to every client, whatever or whoever they may be. If they are a client of Harrisons they get the Harrisons’ treatment – a premium service for all.
Could it be said that the people with whom you’ve worked since arriving in Serbia – your team members – are what Harrisons is today: the result of everything you’ve built over the past 25 years?
— Absolutely! There is no way I could have done this on my own. My colleagues support me and embody the firm. What makes me proudest is that so many people have been with me virtually since the start. We are a friendly team and treat everyone the way we would like to be treated ourselves. I still love going to the office and seeing everyone. We are a family.
There are few major deals and transactions in Serbia over the past two and a half decades that haven’t involved your firm. Are there any that you would single out?
— There are certain deals that are close to my heart. As we were the first International Law Firm present after the October 2000 revolution, we were well positioned for the mass privatisation programme launched by Zoran Đinđić’s government. My favourite was U.S. Steel’s purchase of Sartid Steelworks. U.S. Steel had a visionary leader, John Goodish, who taught us all a lot and I think that deal “made” us what we became. It was in September 2003 that we bought Sartid, acted on behalf of British American Tobacco on their purchase of Duvanska Industrija Vranje and sold Beopetrol to Lukoil. Crazy times!
Bringing Fiat to Serbia was also a milestone, but also my beloved Heineken. Of course, my real baby was Porto Montenegro. We started that in 2005 and getting to work with Peter Munk was a delight – he is such an extraordinary man. He transformed Montenegro with that deal.
Unlike all the major Serbian law firms, we acted on our own, as we were inter -
We are a friendly team and treat everyone the way we would like to be treated. I still love going to the o ce and seeing everyone. We are a family
national in our own right, regulated and supervised by the Solicitors Regulation Authority and insured with Lloyds of London.
You facilitated the purchase of agricultural land and real estate in Serbia by investors from the UAE, including Al Dahra and Al Rawafed. Have your activities in and with MENA countries been growing over the years?
— Any firm that provides services needs to evolve, in particular law firms in Central & Eastern Europe. Many simply undertook privatisations and then left when everything was sold.
We targeted three areas for the future:
Banking & Finance – led by Ines Matijević-Paulin, who I believe is objectively the best female lawyer in Serbia and the country’s best banking and finance lawyer. We dub ourselves The Banking & Finance Firm for the Balkans.
IT start-ups in Serbia are full of young, smart, knowledgeable, English-speaking software developers. We decided to help them grow their firms and assist them when dealing with savvy investors. And Serbia is now the CEE IT start-up capital.
Working with the MENA region was our key move and our activities there are growing constantly. It was over 15 years ago that we started acting on behalf of the Abu Dhabi Royal Family in the region and we continue to act for them in Serbia and Montenegro. Subsequently, since the Investment Corporation of Dubai (their Sovereign Wealth Fund) bought Porto Montenegro, we now act for them and the prominent family in Egypt (Sawiris), who own Luštica Bay. We have also acted for companies from Oman, Qatar, Sudan and Lebanon. I am a member of the British Chamber of Commerce Abu Dhabi and a frequent visitor to the region.
Business Dialogue
LOCAL
FIC Serbia Names New Board and Sets Reform Goals
Strong,
Andrijana Đorđević Centrosinergija General Manager
Veselin Jevrosimović Elected President of Serbia’s Privrednik Club
The FIC Serbia has announced its new Board of Directors at the annual Assembly meeting, alongside the adoption of the 2024 Annual and Financial Reports. The Financial Services Committee received the prestigious “Committee of the Year” award, recognising it as the most active and impactful group within the organisation.
Two Serbian Restaurants Awarded Michelin Stars
Veselin Jevrosimović has been named the new president of Club Privrednik, the country’s leading association of top business leaders. In his first statement as president, Jevrosimović emphasised his vision for Privrednik to become a trusted and constructive partner to the government, aiding in the formulation of policies aimed at fostering business growth and attracting investment.
Serbian Association of Managers Awards Manager of the Year
The Serbian Association of Managers (SAM) has announced its annual awards, recognising outstanding achievements and contributions in 2024. The prestigious “Manager of the Year” award went to Saša Popović, CEO of Vega IT.
The Michelin Guide 2025 has awarded prestigious Michelin stars to two outstanding Serbian restaurants, highlighting the nation’s growing reputation for fine dining. Langouste in Belgrade received its star for its stunning riverside location and Chef Marko Đerić’s commitment to seasonal, locally sourced ingredients from a biodynamic garden. In Novi Slankamen, Fleur de Sel earned its star under the leadership of Serbian-born, French-trained Chef Nikola Stojaković, who delivers refined transalpine flavours with his team.
All three sectors-public, private and international-play a crucial role in developing the startup ecosystem
Tanja Kuzman CEO of the Digital Serbia Initiative
CEBAC Holiday Celebration
With over 200 member companies, CEBAC celebrated its first six months of operations. Sanja Ivanić, CEBAC’s Secretary General, opened the event by reflecting on the numerous initiatives launched by CEBAC over the past six months. These included several networking events, a major conference, and the establishment of three sectoral committees: ESG, HR, and Transport and Logistics.
First Three Decades of Beohemija
Beohemija, a manufacturer of detergents and household cleaning products operating under the Czech CE Industries group, has celebrated 30 years of business. With representatives from the company, partners, distributors, collaborators, and the media in attendance, Beohemija marked the start of its fourth decade in operation with a ceremonial event.
PLACEMENTS & POSTINGS
H.E. Mr. İlhan Saygılı New Ambassador of Türkiye to Serbia
The newly appointed Ambassador of the Republic of Türkiye to the Republic of Serbia, Mr. İlhan Saygılı, is an experienced diplomat with a deep understanding of the specific political, economic, and cultural dynamics of the Balkans. This expertise makes him a skilled negotiator and a strong promoter of his country’s interests in the region. Previously, he served as the Consul General in Frankfurt, Ambassador to Switzerland, and Special Advisor to the Turkish Minister of Foreign Affairs. Additionally, he twice held the position of Head of the Department for the Balkans and Central Europe. Mr. Saygılı graduated in International Relations from the Faculty of Political Science at the Middle East Technical University (METU) and holds a Master’s degree from the Institute of Social Sciences at Ankara University.
Client-Centric Legal Services
Goran Korać Attorney-at-Law, Korać Law O ce
“Our law o ce focuses on speci c industries, with the aim of developing a deep understanding of the business models and challenges of each sector,” says attorney Goran Korać
Speaking in this interview for our magazine, esteemed Novi Sad-based attorney Goran Korać shared his insights into the principles and values underpinning his firm, its approach to clients, continuous professional development and keeping up to date with changes and trends in the field. He also proudly reveals new developments related to the InterContinental Hotels & Resorts project and the construction of the Hyatt Regency Hotel by Inobačka DOO Novi Sad.
The Korać Law Office is committed to providing personalised, strategic legal solutions tailored to the needs of each client. Do you take the time to get to know each client and their unique requirements?
— Korać Law Office is a business-focused law firm that provides client-tailored legal services designed to meet the unique needs of each individual client. Our approach emphasises understanding the client’s business model and objectives, with the goal of delivering top-notch, comprehensive legal services and practical solutions.
We provide legal services across all areas of business law, often handling complex, multidisciplinary and cross-border transactions. Our work is grounded in integrity, professionalism and expertise, with a strong commitment to managing processes effectively in order to achieve our clients’ goals. These principles guide our practice, and we are proud and grateful for the trust our clients place in us as a result of our dedicated approach.
You offer a wide range of legal services in business law, which is a complex and constantly evolving field. Does this mean you must continuously develop
your expertise to stay up to date on the latest changes and trends?
— Our office and team members are professionals with significant international experience and a commitment to lifelong learning, both individually and as a team. This dedication is always driven by one goal: the success of our clients.
We are committed to our membership in domestic and international professional associations and business chambers, ensuring we monitor and analyse market trends and developments
Business law is a dynamic, intricate and interconnected system that constantly adapts to modern conditions, requiring daily efforts to keep pace with market needs.
We strive to provide comprehensive legal support to our clients in the following areas:
1. Commercial transactions;
2. Corporate law, including structuring and executing mergers and acquisitions (M&A);
3 Tax law and business optimisation;
4. Financial and banking advisory services;
5. Employment law and human resources;
6. All types of domestic and international disputes (litigation, enforcement, arbitration, ADR etc.);
7. Investment projects and real estate transactions;
8. Intellectual property law (patents, trademarks, copyrights, industrial design and geographical indications);
9. Data protection, among others.
We are committed to our active membership in domestic and international professional associations and business chambers, with the aim of monitoring and analysing market trends and developments.
You are aware that different industries have unique legal needs and challenges. Why did you decide to deepen your understanding of the hospitality, IT, construction, agriculture and sports industries?
Our office focuses on specific industries and strives to achieve a deep understanding of the business models and challenges unique to each sector. This approach has been recognised and positively received by our clients, as it fosters better comprehension of their operations and goals.
We specialise in providing legal services to the hospitality and tourism industry, the construction and real estate sector, IT and sports. Additionally, we have a particular focus on agriculture, food industry and related industries, because our office is based in Novi Sad, Vojvodina – the agricultural hub of Serbia.
This client-centric approach has allowed us to develop a profound understanding of diverse business models across various industries and connect relevant processes and operations within different sectors. This ensures comprehensive and precise legal and
business guidance, tailored to the specific needs of each industry.
You seem to be particularly proud of your role as legal advisors to Delta Holding and Delta Real Estate in their transaction with InterContinental Hotels & Resorts. Could you share more about this significant project?
— Absolutely. We are extremely proud to have participated in this project as legal advisors to Delta Holding and Delta Real Es-
tate, as future owners of the hotel, in their collaboration with renowned global brand InterContinental Hotels & Resorts (IHG). This partnership marks the return of the InterContinental brand to Serbia.
We are thrilled to contribute to the development of the DeltaDistrict and InterContinental Belgrade, which will become a flawless and authentic symbol of modern Belgrade. This hotel will enhance the city’s luxury offer and functionality, with construction set for completion by year’s end
2026 and the grand opening planned for early 2027. Delta Holding’s total investment in the hospitality sector exceeds €100 million.
While this project is undoubtedly a culmination of our collaboration with Delta Holding, it is also a continuation of our longstanding partnership. This relationship began with the optimisation of operations for other hotels within the Delta Holding group, including Radisson Collection Hotel Old Mill Belgrade, Crowne Plaza Belgrade, InterContinental Ljubljana and Indigo, which form one of the region’s largest hotel groups.
The consistent engagement of our clients is clear testament to the professional-
We are thrilled to contribute to the DeltaDistrict and InterContinental Belgrade, representing a awless and authentic symbol of modern Belgrade
ism and expertise we bring to each project. We are profoundly grateful for their trust and recognition of our efforts.
While we’re on the topic of hotels, you also played a key role in the HSA transaction between Inobačka and Hyatt Regency. How will this project impact Novi Sad’s development?
— I firmly believe that the Hyatt Regency Hotel project, undertaken by Inobačka DOO Novi Sad, will contribute greatly to improving the quality of life and business opportunities in Novi Sad. This €107 million investment is significant not only financially, but also in terms of infrastructure, culture, ecology and the overall improvement of quality of life and business.
The development of a “green” and modern hotel, along with two A-class office buildings located in one of Novi Sad’s central parks, will undoubtedly become a landmark of this modern and “green” city. Both residents and visitors will benefit immensely from this project.
Vrnjačka Banja - The Most Beautiful Postcard from Serbia
Boban Đurović President of the Municipality of Vrnjačka Banja
“Our goal has been to preserve the spirit, charm, and historical signi cance of the spa, to protect its springs, parks, forests, and rivers, while elevating its o erings to the level of the world’s leading destinations,” states the leader of Vrnjačka Banja proudly
rnjačka Banja is today synonymous with luxury, relaxation and entertainment. This remarkable transformation is attributed to the visionary leadership of municipal president Boban Đurović, whose incredible energy and dedication to development have proved that even the boldest dreams can become reality when a vision is turned into action. Under his guidance, and with strong support from the central government and the private sector, this small yet powerful spa oasis has become a beacon of innovation, attractiveness and quality of life. At the end of yet another successful year and the beginning of one that promises to be even better, we spoke with President Đurović about the incredible success and exceptional results achieved.
VIt’s clear that all the significant investments have paid off many times over, with visitors thrilled by what they find in Vrnjačka Banja.
— Absolutely! Every year, we achieve results that exceed all our expectations. By investing in infrastructure, accommodation capacities, diverse amenities, numerous events and natural resources, we have managed to create an environment that not
only delights our guests, but also sets new standards for Serbian tourism.
This is a success not just for Vrnjačka Banja, but for everyone who believes that the synergy of tradition, modernity and sustainable development can produce lasting results. The overwhelmingly positive reactions of our visitors are reflected in the new records we’ve set for tourist numbers. The high interest in Vrnjačka Banja is a clear indication that it’s a destination that not only meets expectations but exceeds them.
Vrnjačka Banja has been among the most visited destinations in Serbia for decades, while it today offers luxury comparable to the most exclusive global destinations, catering to even the most demanding guests.
— Vrnjačka Banja is a testament to what can be achieved through the combined efforts of the state, private sector and local government. Our goal was to retain the essence of the spa – its charm and historical significance – while protecting its natural treasures, such as springs, parks, forests and rivers. At the same time, we aimed to enhance its offer to match those of the world’s leading destinations.
Our guests can today experience a complete offer, from top-notch hotels and services to prestigious cultural, entertainment and sporting events. We also boast an incredible range of attractions, including the largest Ferris wheel and water park in the Balkans. We offer relaxation, entertainment and inspiration, but also, and above all, the opportunity to experience the unique charm that only Vrnjačka Banja can provide.
Considering that your season never ends and runs year-round, what have you prepared for the winter months?
The gondola project, which we are implementing in partnership with the Đoković family and with substantial support from the state, represents a symbol of our aspiration to create a sustainable future
It seems there are no excessively ambitious plans for you anymore—everything is achievable?
— Vrnjačka Banja has successfully overcome the concept of a “tourist season”. Our success lies in continuity. We offer visitors new experiences each month. The winter months are marked by festive magic and we traditionally welcome the New Year with a grand New Year’s concert. This time, for 2025, Sanja Vučić will ring in the New Year for all Vrnjačka Banja locals and guests.
There’s also the Vrnjačka New Year’s Fairytale on the Culture Square, numerous activities for children, interactions with Santa Claus, children’s theatre performances, rock concerts and more. Our hoteliers consistently strive to delight their guests with additional exciting contents and special
We o er relaxation, entertainment and inspiration, but also, and above all, the chance to experience the unique charm that only Vrnjačka Banja can provide
packages, complemented by top-tier services and enjoyment at the most modern wellness and spa centres.
In this transformation, we’ve learned that ambition isn’t measured by the height of our goals, but by the dedication and unity with which we achieve them. All our efforts are currently directed towards maintaining the reputation we’ve earned, while our goal is to raise the bar and enhance our offer with every new project.
You wanted Vrnjačka Banja to be equally attractive to all age groups—children, young people, families, business professionals and the elderly. Do you have the right offer for all of them?
— Our activities are focused on people and their needs. We’ve created a space where generations connect by offering themed activities for children, engaging events for young people, conference facilities for business guests, romantic corners for couples and rehabilitation programmes and activities for seniors.
Our goal is for Vrnjačka Banja to be a place where people create beautiful memories, regardless of their age or interests.
Every record you break motivates you to work with even more intensity and dedication on new projects. How is your largest project – the gondola lift connecting Vrnjačka Banja to Mount Goč – progressing?
— The gondola project, which we are implementing in partnership with the Đoković family and with substantial support from the state, represents a symbol of our aspiration to create a sustainable future –one that combines the preservation of nature with innovations tailored to meet the demands of modern tourism.
We’ve completed all necessary planning phases and secured funding for its implementation. Construction will begin in 2025 and its completion will connect the two gems of Vrnjačka Banja and Mount Goč into a single, integrated entity.
The Municipality of Vrnjačka Banja has submitted an environmental impact assessment request to the relevant ministry. The gondola project includes a starting station in Vrnjačka Banja, a mid-station in Lipova and an end station on Mount Goč, with 30 tower locations.
The gondola will initially operate with 52 carriages, later increasing to a total of
84, each with a capacity of 10 passengers. With a maximum speed of 6 m/s, the gondola is designed to transport 2,400 people per hour year-round and will span approximately seven kilometres, with an elevation differential of 782.7 metres.
We are simultaneously creating new amenities on Mount Goč, such as an adrenaline park, zip lines, adventure parks, new ski runs and health trails. We will also enhance the area around Selište Lake with new walking zones and water attractions like geysers. Plans include the construction of a mini zoo featuring native wildlife species and the development of themed mountain tourist villages with additional facilities like restaurants and wellness centres, while avoiding large hotels or multistorey buildings.
We spoke last year about plans to conquer new markets, particularly in Asia. Are you entering 2025 with the same ambitions?
— We’ve intensified our promotional activities, developed offers tailored to cultural specifics and sparked interest that continues to grow each year. We will continue to promote Vrnjačka Banja through these partnerships in 2025.
We have so much to offer, and our ambition is for the beauty and uniqueness of Vrnjačka Banja to resonate across the globe, as Serbia’s most beautiful postcard.
Photos Savo Tufegdžić
Business Dialogue
“Net
FDI in ows amounted to about 6 per cent of GDP on average in the Western Balkans in 2023“
Ivailo Izvorski Chief Economist for the Europe and Central Asia, World Bank
Crowne Plaza Debuts in Montenegro with Podgorica Opening
Nestled in the heart of Podgorica’s bustling business district, Crowne Plaza Podgorica has officially opened its doors, marking the arrival of the prestigious Crowne Plaza brand in Montenegro for the first time. A transformation of the former CUE Podgorica hotel, the new property aims to redefine hospitality standards in the region by fusing globally recognised excellence with the authenticity of Montenegrin culture.
Ivan Rakočević Takes the Helm at Tivat Airport
Tivat Airport has appointed Ivan Rakočević as its new director, ushering in a new chapter for one of Montenegro’s key travel hubs. With over two decades of experience in law enforcement and a recent managerial role overseeing security at a prominent tourist complex in Tivat, Rakočević’s background brings a meticulous approach to leadership.
Terme Snovik to Build €22M
Eco-Friendly Hotel
Terme Snovik, a modest wellness centre in northern-central Slovenia, is undertaking its most significant development yet with the construction of a four-star hotel, estimated at €22 million. Located near Kamnik, 40 kilometres northeast of Ljubljana, the spa presently offers lodging in eight apartment houses and a holiday campsite.
“We are a company that has learned to rely on its own strengths“
Radmila Trifunović Metalac CEO
Macedonia’s Finest Awarded for Excellence in Business
In a ceremony held by the Union of Chambers of Commerce under the patronage of the President of North Macedonia, ten remarkable companies were honoured with the “Macedonian Quality” award for 2024. The award was presented by President Gordana Siljanovska Davkova and Union President Trajan Angeloski, acknowledging the exceptional achievements of businesses across diverse sectors.
Montenegro Aligns Organic Production with EU Standards
Montenegro, as an EU candidate country, is harmonising its organic production laws with EU Regulation 2018/848, which came into effect on 1 January 2022. The regulation introduced stricter control systems to strengthen consumer trust and ensure all organic products sold in the EU adhere to the same high standards.
Mövenpick to Open in Novi Vinodolski
The well-known Mövenpick hotel brand, already present in Zagreb and under development in Split, is now set to expand to Novi Vinodolski. The popular tourist resort Hoteli Novi, which gained a new owner in December last year, is expected to come under the Mövenpick umbrella, marking a significant revival for the property.
Truth Will Open the Lithium Mine
Marijanti Babić Country Head Serbia
The Jadar Project will only proceed once independent experts con rm that it can be implemented safely for the environment and public health, says Rio Tinto’s Marijanti Babić
lthough drafts of environmental impact assessment studies conducted by independent experts indicate that the Jadar Project can be executed safely and in accordance with the highest standards, some citizens remain sceptical due to a persistent campaign opposing the project. In discussing how to regain the trust of local communities and the wider public, and what the development of this project would mean for Serbia economically and in its European and global positioning, Babić provides the following insights for CorD Magazine.
AThe Serbian Ministry of Environmental Protection recently issued a document defining the scope and content of the Environmental Impact Assessment Study for the Jadar Project. What does this document mean; and what are the next steps for your company?
— The decision on the scope and content of the study marks the start of a crucial phase in the project’s development. This study must prove that Jadar can be implemented safely, for both the environment and human health. The decision requires Rio Tinto to submit a comprehensive study within one year, detailing the environmental impacts and proposing measures to mitigate or prevent potential adverse effects. The study will then be reviewed by a technical commission of independent experts, which will provide recommendations for the final decision.
The process also includes a public debate that will enable citizens to share their opinions and comments. Further permits, including construction approvals, will only be granted after the entire process
During the project’s four-year construction phase, 3,500 workers would be engaged, while 1,300 people will be permanently employed over the subsequent four decades
confirms that the project meets all safety requirements.
Drafts of the environmental impact assessments, which have been available publicly since June, show that the Jadar Project can be implemented safely, under the highest standards. However, some citizens still believe this isn’t possible. What do you think is the cause of this mistrust?
— The mistrust largely stems from an intensive misinformation campaign that has plagued the project in recent years. The public has been exposed to inaccurate claims –not based on scientific evidence, but rather on fear and intentionally disseminated
falsehoods. It is astonishing that these falsehoods persist despite the publicly available studies, prepared by independent domestic and international experts, which clearly demonstrate that the project can be conducted under the highest environmental standards.
We firmly believe that discussions about a project with such significant developmental potential must be based on facts. That’s why we will continue to share accurate and transparent information, address all questions and actively engage both experts and the general public in an open, fact-based dialogue.
What is the sentiment regarding the mine’s potential in the communities of Loznica and Krupanj?
— The misinformation campaign has also influenced citizens in Loznica and Krupanj, where people are directly concerned about potential negative impacts of the project. However, most doubts have been addressed successfully through the over 100 meetings held with more than 3,500 members of the local community. Citizens increasingly recognise the project as an opportunity for economic advancement, new jobs and more stable development. Jadar would be one of the largest employers in Loznica. During the four-year construction phase, the project would engage 3,500 workers, while 1,300 people would be permanently employed over the subsequent four decades. It is estimated that project taxes and fees would double the Loznica municipal budget. This revenue creates opportunities for significant infrastructure projects, improved public services and the overall enhancement of quality of life in the region.
What would the development of the project mean for Serbia economically?
— Based on the results of various economic studies, we believe that Jadar has the potential to become a driving force in developing an integrated e-mobility value chain. A lithium mine would attract significant foreign investments in the sectors of battery, cathode and electric vehicle production, leading to new factories, job creation, the introduction of advanced technologies and the
development of domestic workforce skills. Analyses show that developing the entire e-mobility value chain could multiply the impact of the Jadar Project, potentially creating over 20,000 new and well-paid jobs, as well as attracting €6.2 billion in FDI.
In terms of direct contributions, the project is expected to generate a minimum of €180 million annually for the state through taxes and royalties, with an annual GDP contribution estimated at €695 million, equating to approximately 1% of Serbia’s GDP.
While sodiumion batteries are an interesting technology, they cannot compete with lithium-ion batteries in terms of energy density and performance
Ursula von der Leyen stated during her recent tour of the Western Balkans that Serbia could become a leader in the field of electric vehicles thanks to its lithium resources, and pledged her support. How would this influence Serbia’s position in Europe and globally?
— Lithium is a strategic mineral for the 21st-century economy that’s essential for battery production and the development of electric vehicles, making it a cornerstone of the global green transition. Developing this resource would not only bring economic progress through foreign investments and job creation, but would also strengthen Serbia’s geostrategic position as a reliable partner in joint European initiatives.
By becoming a key player in lithium production and sustainable technologies, Serbia would have the opportunity to participate in crafting innovative industrial policies, thereby boosting its influence and position in global processes, while simultaneously improving living standards for its citizens. The foundation for this has been established through the signing of the Strategic Partnership Memorandum between Serbia and the EU in the field of critical raw materials, highlighting the strategic importance of lithium for both our country and the European Union.
Opponents of mining often cite research claiming that lithium batteries are obsolete. What is your response to this?
— Lithium-ion batteries remain an irreplaceable foundation of the green transition, and they are expected to remain so for decades to come, given their crucial role in the development of e-mobility. Sodium-ion batteries are not a viable alternative. This is a misconception that we often encounter. While they represent an interesting technology, sodium-ion batteries cannot compete with lithium-ion batteries in terms of energy density and performance.
Moreover, lithium is central to the latest solid-state battery technologies, which promise longer lifespans, greater range and faster charging. This ensures that this lightest metal will continue to play a key role in building a cleaner and more sustainable future.
You got to talk to the chief and nd out what he’s thinking
Kevin O’Leary CEO of O’Leary Ventures
Scandinavia Emerges as a Serious Wine Destination
Hundreds of commercial vineyards are now scattered across Denmark, Sweden, and even Norway as the first generation of professional winemakers transforms what was once a hobby into a small yet thriving industry. Far north of France’s Bordeaux or California’s Napa Valley, over 10,000 vines grow on a hillside in Zealand, Denmark’s largest island. Most Scandinavian vineyards cultivate Solaris, an aromatic hybrid grape variety well-suited to cooler climates.
Reduced Production and Consumption of Chemicals in EUy
In 2023, the European Union produced a total of 218 million tonnes of industrial chemicals (both hazardous and non-hazardous) and consumed 227 million tonnes, marking a 13% decrease in production and a 14% drop in consumption compared to 2022. According to Eurostat, the EU produced 167 million tonnes of chemicals hazardous to health in 2023, an 11% decline from 2022. Production of environmentally hazardous chemicals decreased by 4%, reaching 68 million tonnes.
Japan Faces Highest Number of Bankruptcies
The number of bankruptcy filings in Japan this year is likely to exceed 10,000, reaching the highest level since 2013, according to data from the private sector provided by the Tokyo Shoko Research (TSR) agency ahead of next week’s closely monitored central bank meeting. In November, 841 Japanese companies went bankrupt, bringing the total from January to November to 9,164, already surpassing last year’s total, Reuters reported, citing Japanese sources.
Larry Fink CEO of BlackRock
Bulgaria and Romania Join Schengen Area as Full Members
Bulgaria and Romania will fully join the Schengen Area on 1 January 2025, marking the end of internal border controls with and between these countries. The decision was unanimously adopted by EU member states today, a significant milestone for both nations and the European Union as a whole. Ursula von der Leyen, President of the European Commission, hailed the move as a triumph, emphasising the strengthened Schengen Area’s role in boosting internal markets, tourism, and unity within the EU.
Air Travel in the EU Up Nearly 20%
The total number of air passengers in the European Union reached 973 million in 2023, marking a 19.3% increase compared to 816 million in 2022, according to Eurostat data. Every EU country recorded growth in air travel, with Malta (+33.3%), Slovenia (+30.9%), and the Czech Republic (+29.4%) leading the way. The smallest increases were noted in Estonia (+7.9%), Greece (+9.6%), and Lithuania (+12.3%). Despite the surge in passenger numbers, air freight and mail transport in the EU fell by 5.2% in 2023 compared to the previous year.
Nissan and Honda Explore Merger to Boost EV Market
Nissan and Honda are reportedly in discussions about a potential alliance, with Mitsubishi Motors expected to join. The proposed deal aims to bolster competitiveness in the rapidly expanding electric vehicle (EV) sector, where both companies face mounting challenges from Tesla and Chinese rivals like BYD.
Saudi Arabia’s
The Architect of Investments
From driving Saudi Arabia’s economic diversi cation to rede ning global investments, Yasir Al-Rumayyan is shaping the future with vision and strategy
Yasir Al-Rumayyan is one of the most influential figures in global finance and business, shaping the future of Saudi Arabia through strategic investments and bold leadership.
From overseeing the world’s largest oil company to managing a sovereign wealth fund that touches industries worldwide, Al-Rumayyan’s journey reflects a commitment to innovation, diversification, and economic transformation.
Born in Saudi Arabia, Yasir Al-Rumayyan earned a degree in accounting from King Faisal University and later attended Harvard Business School’s Program for Management Development. His education equipped him with a strong foundation in financial management, which he applied early in his career at prominent institutions like the Saudi Hollandi Bank, where he gained experience in asset and risk management.
Al-Rumayyan’s rise in the financial sector was swift. He joined the Capital Market Authority (CMA) of Saudi Arabia, where he played a key role in developing the kingdom’s financial markets. This experience solidified his reputation as a forward-thinking leader capable of navigating complex economic landscapes.
Under his leadership, the PIF’s assets under management grew exponentially, reaching over $925 billion by 2024
In 2015, Al-Rumayyan was appointed governor of Saudi Arabia’s Public Investment Fund (PIF), a pivotal moment in his career and for the kingdom’s economic future. Tasked with transforming the PIF into one of the world’s largest and most influential
sovereign wealth funds, Al-Rumayyan implemented an ambitious strategy aligned with Saudi Arabia’s Vision 2030—a plan to diversify the economy beyond oil dependency.
Under his leadership, the PIF’s assets under management grew exponentially, reaching over $925 billion by 2024. Al-Rumayyan directed investments across a wide range of sectors, including technology, renewable energy, entertainment, and sports.
Governor of Public Investment Fund of Saudi Arabia
Yasir Al-Rumayyan
High-profile ventures included stakes in companies like Uber, Lucid Motors, and SoftBank’s Vision Fund, as well as the acquisition of global entities such as Newcastle United Football Club.
In addition to leading the PIF, Al-Rumayyan serves as the chairman of Saudi Aramco, the state-owned petroleum giant and one of the most valuable companies in the world. Appointed in 2019, he has overseen Aramco’s strategic expansion into new markets and technologies, ensuring its continued dominance in the global energy sector while exploring opportunities in sustainability and clean energy.
Al-Rumayyan was instrumental in guiding Aramco’s historic IPO in 2019, which became the largest public offering in history, raising $25.6 billion. This move underscored his ability to balance tradition with innovation, positioning Aramco as a key player in a transitioning energy landscape.
As one of the key architects of Saudi Arabia’s Vision 2030, Yasir Al-Rumayyan continues to play a central role in reshaping the kingdom’s economic and cultural identity
Beyond finance and energy, Al-Rumayyan has played a crucial role in advancing Saudi Arabia’s soft power initiatives. As chairman of Newcastle United Football Club, he has led efforts to revitalize the English Premier League team, turning it into a symbol of Saudi Arabia’s growing influence in global sports.
Additionally, he oversees Riyadh Air, Saudi Arabia’s new national carrier aimed at boosting tourism and enhancing the kingdom’s connectivity to global markets. These efforts are part of a broader strategy to position Saudi Arabia as a leading hub for culture, entertainment, and business on the world stage.
Al-Rumayyan’s leadership style is characterized by strategic foresight, adaptability, and a willingness to embrace risk. He believes in leveraging Saudi Arabia’s rich heritage and natural resources while investing in future-oriented industries that align with global trends. His decisions reflect a blend of pragmatism and ambition, ensuring both short-term gains and long-term sustainability.
As one of the key architects of Saudi Arabia’s Vision 2030, Yasir Al-Rumayyan continues to play a central role in reshaping the kingdom’s economic and cultural identity. His efforts have positioned Saudi Arabia as a global player across diverse industries, from renewable energy and technology to sports and entertainment.
Al-Rumayyan’s work at the PIF, Saudi Aramco, and beyond underscores his belief in the power of strategic investments to drive economic growth and innovation. As Saudi Arabia continues its journey of transformation, his leadership ensures that the kingdom remains at the forefront of global progress.
Yasir Al-Rumayyan’s impact extends far beyond Saudi Arabia. Through his leadership and vision, he has redefined the role of sovereign wealth funds, demonstrated the potential of strategic diversification, and strengthened Saudi Arabia’s position as a global economic powerhouse. His journey is a remarkable story of how one leader’s vision can shape not just a nation but the world.
Journey of Connection, Collaboration and Hope
My life path and career journey have been guided by the belief that unity and collective action are the cornerstones of meaningful progress
Secretary General of the European Movement in Serbia
Growing up in Belgrade, with deep ties across the beautiful yet fragmented Western Balkans, I witnessed borders dividing not just lands, but also dreams, opportunities and people. And yet, even amid such division, I nurtured a deep appreciation for freedom, resilience and mutual respect, alongside an unyielding hope for connection. These ideals shaped me into a person who is deeply committed to the kind of cooperation and shared purpose that can overcome even the most entrenched challenges. They also ignited my passion for building bridges – across nations, sectors and disciplines.
I was drawn from an early age to stories of transformation - not just of nations, but of individuals who believe progress is possible even despite
overwhelming odds. My educational journey reflects this transformative spirit. I attended high school in the U.S. part of the Pacific, where I experienced a cultural tapestry and way of life that differed vastly from my own. My later university studies in economics took me to Athens, while my postgraduate studies in economic integration and development led me to Brussels, the beating heart of European integration, where I was exposed to both the challenges and rewards of unity in diversity. These experiences, coupled with valuable and diverse friendships formed all over the world, deepened my conviction that people can transform through cooperation and mutual understanding. Throughout these experiences, certain values have remained central to
shaping my perspective and actions: justice, inclusion and righteousness. These are not abstract ideals, but rather the guiding principles of my life and work, underpinning every endeavour I undertake and providing a moral compass to navigate the complexities of both personal and professional challenges.
My unwavering belief in the transformative power of collaboration has driven my professional path, which has unfolded at the crossroads of civil society, business, government administration and diplomacy. I have worked with policymakers, international institutions and business leaders, with my constant driving force being a desire to bridge gaps.
As Secretary General of the European Movement in Serbia, I have the privilege of leading initiatives that champion democracy, foster socioeconomic development and bring people closer to the ideals of the European Union. But one of the accomplishments I hold dearest stems from my time at the Regional Cooperation Council, where I was part of the core team that worked tirelessly for years to establish the Common Regional Market. What once seemed impossible – a collective economic vision for the Western Balkans – has become a testament to what can be achieved through shared purpose and collaboration. This milestone is more than an economic achievement; it reflects the profound truth that we are not as divided as we might seem and that our natural place is within the European Union. The progress achieved nonetheless remains fragile, and the work is far from done.
My story, like the story of this region, is still being written. It is a tale of hope, perseverance and an unwavering belief in the power of connection to shape a brighter future. For me, justice, resilience and shared humanity are not just aspirations; they are the path forward. These values will continue to underpin my vision for the kind of world I hope will be inherited by my daughter and future generations.
Dragana Đurica
ART: Paradigms of Paradisiacal Images in Late Antiquity
to Eternity From the Beginning of Time
What awaits us after death? Are the green meadows, the murmur of the rivers and the warmth of the sun promises of eternal life in the Garden of Eden or is it a question of ctional mental images woven into human hopes and dreams formed in the rst centuries of the development and spread of the Christian religion and art
By Branka Vranešević, PhD, full professor at the University of Belgrade, Faculty of Philosophy, Department of Art History
Since time immemorial, man has dealt with questions about death and what lies beyond. In this sense, the classical ancient world of different religions and cults offered a variety of answers - from death as finality to the hope of eternal life, which was primarily reserved for the chosen ones, heroes who gained the respect of the gods. In the literary works such as the „Epic of Gilgamesh“, in which the hero Gilgamesh is described in his pusuit to obtain eternal life, Homer’s epics „Iliad“ and „Odyssey“ or Hesiod’s „Theogony“, which will exert an exceptional influence on the Roman writers Ovid and Virgil regard-
ing the Fortunate Isles, the place of eternal and ultimate resting place, paradise or hortus deliciarum (garden of delights), as will be defined by Isidore of Seville in the 7th century, is described and visualised as a place of peace, tranquility, prosperity and delight. Therefore, in both art and literary sources it refers to a blissful place, rich in flora and fauna, where
Fig. 4. Great Hunt mosaic, Villa Romana del Casale, Piazza Armerina, Sicily, 4th century, Wikimedia commons
the souls of the righteous reside after death. In ancient cultures, it can also be defined as Elysium, the Elysian Fields, the Fortunate Isles, the Garden of the Hesperides, the Pleasure Garden (Horti Sallustriani), paradeisos, etc. Nevertheless, it is most often used as a synonym for the Christian Garden of Eden where Adam and Eve lived before the sin and the place that awaits the righteous after death. Therefore, the word „paradise“ has denoted the place described in the Christian Bible, which begins with the story of the Garden of Eden (Gen. 2: 8) and ends with the Heavenly Jerusalem in the Book of Revelation (21: 1-3; 22: 1-2), as the place of ultimate redemption located in heaven which offered salvation and triumph in the name of Christ.
A wide display of iconographical motifs, which today are clearly recognized as the image of paradise, lie on the basis of the Persian word paridaida or paridaeza referring to an enclosed place near a river Meandres (which will later transform into the four rivers of paradise – Tigris, Euphrates, Gihon and Pishon), with fountains and freshwater channels, inhabited by animals, fruit trees and plants, as can be seen in the „royal garden“ at Pasargadae. As such, it was borrowed to Greek as παράδειϬοζ (first mentioned by Greek writer Xenophon c.
430–354 BC), meaning “park for animals” or “royal park” (namely a hunting ground as will later be adopted by Alexander the Great), but also as an orchard or a park (similar to the Hanging Gardens of Babylon with trees, flowers, numerous plants, inhabited by swans, peacocks and parrots, an idea that will later be implemented by the Romans) and subsequently as gan-Eden “Garden of Righteousness”, paradise, in the Pentateuch.
In Christian Bible, paradise was created since the beginning of time,
as the world was formed, and will appear at the end of time, as the righteous will dwell next to God. Based on the description in the Book of Ezekiel (28: 12-16) and the Book of Revelation (22: 11-22), the Garden of Eden was often recognized as the city of Jerusalem. Finally, at the end of the 4th century, St. Augustine defined heaven as a good place for the soul - locus amoenissimus or locus nemorosus (a wooded place), referring to a spiritual place that at the same time signifies the paradise to come. It is
Fig. 6. Santa Costanza Mausoleum, Rome, cc. 350, detail, Wikimedia commons
Fig. 1. Gardens outside of the Palace of Darius I of Persia in Persepolis, ideal reconstruction, Wikimedia commons
Fig. 3. Tomb of the Nymphs, Ashkelon, Israel, mid 3rd century
spatially, temporally and symbolically located on earth, but at the same time also exists in heaven.
The concept of paradise in Christian culture rests on the specific symbol of the Garden of Delights, an enclosed garden of eternal bliss, locus amoenus (a pleasant place). Being unattainable, and throughout history, paradise appeared in different secular and religious forms. It represents the backbone of Christian theological concepts and art, formed on the basis of Persian, Greco-Roman,
Judean and Hellenistic philosophical thought, culture and art. In multiple forms, it has been a source of inspiration and contemplation for artists, theologians and philosophers across cultures and time periods, embodying human longing for an ideal world, a place of beauty, harmony and spiritual fulfillment. Being an intriguing and mysterious place, paradise, which lies at the core of Christian teaching, was often depicted in art and culture of early Christians and later shaped the ideal and ultimate
human resting place as we know it today. There is probably nothing as deep, layered and at the same time intriguing as the desire and search for paradise, which in fact becomes a search for immortality or at least an attempt to reach a state of inner harmony and bliss.
So, how did the Christians visually construct the image of paradise? Given that this is essentially an enclosed garden with meadows, flowers, trees and a water source, it is quite certain that, apart from terminology, Persian culture and art influenced its visualisation. One such example can be seen in the former gardens situated outside of the Palace of Darius I in Persepolis (fig. 1). Similar visual narrative can be seen in Ancient Greek art, among numerous examples of vase painting and painted tombs, as some have been discovered in today’s Northern Italy, with depictions of inhabited places, with trees, flowers and birds. Although much of the program found in painted tombs does not seem to correspond directly to the descriptions of Elysium, separate motifs such as trees (especially palms), birds, flowers, garlands, etc. unequivocally allude to the place of eternal resting place and will become a kind of standard in the visualization of the Garden of Eden. Such motifs were
Fig. 7. Apse, Basilica Sant’Apollinare in Classe, Ravenna, 6th century, Wikimedia commons
Fig. 2. Villa of Livia at Prima Porta, Museo Nazionale Romano, Palazzo Massimo alle Terme, cc. 39BC, Wikimedia commons
Fig. 5. Ceiling fresco painting, Coemeterium Maius, Via Nomentana, Roma, late 3rd century, Wikimedia commons
very popular in Roman art, as we see on the example of fresco in the Villa of Livia at Prima Porta, today at Museo Nazionale Romano (fig. 2). Motifs of grapevines, putti or animals eating grapes or drinking water from a spring are also common in representing paradeisoi, like in the so-called Tomb of the Nymphs, in Ashkelon, Israel, dated in the middle of the 3rd century (fig. 3), or images of animals and/or venators, found on vases and wall painting, floor mosaics, reliefs, sarcophagi, etc., like on the example of the Great hunt mosaic from the Villa Romana del Casale, Piazza Armerina, Sicily, from the beginning of the 4th century (fig. 4).
The above-mentioned images and motifs were deeply woven into the newly formed Christian religion, visible first of all in the fresco paintings of excavated and preserved catacombs. Pastoral landscapes, meadows with flowers, trees, birds, peacocks, deer, interweaving vines and ivy, images of the Good shepherd, Orans, Jonah, and other prophets are there to remind us of the future to come (fig. 5). As soon as Christianity was granted legal recognition with the Edict of Milan in 313, one can notice the rapid development of Christian iconography on the walls, vaults, apses of churches, mausole-
Fig. 8. Dome, Baptistery of Neon, Ravenna, cc. 450, detail, https://www. kornbluthphoto. com/RavennaOrtBaptDome.html
ums and baptisteries with images of Christ, apostles, saints and martyrs placed in the center of the composition, surrounded by meadows, trees, flowers, birds. Such examples can be seen in the mosaic decoration of the Mausoleum of Santa Costanza in Rome from cc. 350 (fig. 6), the apse of the church of Sant’Apollinare in Classe in Ravenna from the 6th century (fig. 7) or the dome of the Baptistery of Neon in Ravenna cc. 450 (fig. 8).
The motif of fons vitae, from which deer, peacocks or birds are fed, remained in Christian art until the end of the Middle Ages and can be found, apart from the mosaics of early Christian churches, also in book illumination, most often in the form of a fountain or amphora placed above headpieces which mark the beginning of the gospels, like in the manuscript from Patmos from the monastery of St. John (no. 81) on fol. 293 or it is presented so that it occupies an entire folio of the
Fig. 9. The Godescalc Evangelistary, Paris, BNF. acquisitions nouvelles lat.1203, late 9th century, fol. 3v, Wikimedai commons
Fig. 10. Harbaville Triptych, from Constantinople, 10th century, the Louvre Museum, Wikimedia commons
codex, like we see on the examples of Carolingian manuscripts such as the Godescalc Evangelistary on fol. 3v (fig. 9). As part of book illumination, we find examples in which the Garden of Eden is precisely defined, as in the example of Dobreyshovo Gospels (NBKM no. 17), dated to the first quarter of the 13th century, with an inscription on fol. 121 that reads „ce ïecтъ рай иже нарицается парадись“. This means that in the terminology of the old illuminators and copyists there was a name for a certain ornamented field, the so-called „flat meadow“, which was called paradeisos (paradise).
An image of a tree as an allusion to the Tree of Life and the Holy Cross (presented in the form of the Crucifixion of Christ or the scene of the finding of the Holy Cross by the mother of Constantine the Great - Helen), represents another motif in the depiction and marking of the Garden of Eden. One example is the Harbaville Triptych (fig. 10) made of ivory in the 10th century in Constantinople. On the back of the triptych there is a representation of a cross worshiped by cypress trees, set in an idyllic landscape and a starry sky. The Monza ampullae from the 6th-7th centuries, numerous manuscripts such as the Gelasian Sacramentary from the 6th century (reg. lat. 316, fol. 3v) or the Gellone Sacramentary from the 8th century (MS. Lat. 12048, fol. 76v), ivory bookcovers like the one from the Cathedral Treasury of Milan from around 450, all testify to the use of different materials, techniques and iconography in the representation and visualization of the Garden of Eden, in whose the center is the lignum vitae, i.e. the arbor crucis, often represented with leaves, flowers and fruits. The scenes of the finding of the Holy Cross were especially developed in the art of the late Middle Ages, as in the works of Agnolo Gaddi, Piero della Francesco or Simon Marmion.
The highlight of the artistic and iconographic narrative in visualising paradise is the mosaic decoration of the apse of the Church of San
Clemente in Rome, dated in the 5th or the 6th century and reconstructed in the 12th century (fig. 11). Stylized acanthus, set on a golden background, spreads through the earthly and heavenly space of the apse in the form of a vine scroll, with birds, animals and people, has in its center a representation of the Crucifixion of Christ. At the base of the composition the four rivers of paradise flow. Two deer, symbolically representing the souls of the deceased (Ps. 42:1), are drinking water from the spring and are flancked by two peacocks, symbols of immortality. Underneath the whole composition is the Lamb of God. Birds perched on acanthus tendrils and other animals feed on the bunches, with water that flows from the trunk of the
tree indicates that the whole scene is taking place in paradise.
Since the Cross on which Christ was crucified was made from the wood of the Tree of Life, the one from the Garden of Eden, we can assume that at this point paradise, Golgotha and the Heavenly Jerusalem conjoin in reaching eternal glory in the sky of the New Jerusalem, as is suggested in the Book of Revelation (22: 2). The eternity is here to stay.
Branka Vranešević, PhD, is a full professor at the University of Belgrade, Faculty of Philosophy, Department of Art History. She teaches courses in Ancient and Medieval art history, with special focus on early Christian iconography. Her interdisciplinary research and publications are focused on Ancient and Medieval art history, while exploring the way visual images reflect on architectural spaces and devotional piety.
11.
Church of San Clemente, Rome, 12th century, apse,
Branka Vranešević has written extensively on early Christian floor mosaics and the formation of Medieval Christian iconography, the relationship between material culture and its visual expression, the meaning and function of ornaments in early Christian and Medieval art, and other aspects of cultural history. She is the author of two monographs on Serbian medieval illuminated manuscripts, with special interest in the relationship between text and image.
Fig.
The
Wikimedia commons
Milo Rau
theatre director and activist
By Ljubica Gojgić
Photo by Bea Borgers
Global Solidarity Need We
It’s impossible to live on this planet and not be included in the system. Nevertheless, you know very well that something exists called fair trade. There’s such a thing as the fair mining of lithium, as well as other ways to make batteries. The question is how you’ll operate and how you’ll cooperate with the people who live in that area? The hunt for lithium isn’t wrong in and of itself, electric cars aren’t wrong, but the question is how to get to those raw materials and who will pay the price for that and who will earn from that work? That balance is the most important factor ~ Milo Rau
The slogan of the 58 th Bitef was ‘beauty will (not) save the world’. This theatre festival’s guest speaker, who was tasked with ceremonially opening the event, seemingly included an addendum to that slogan: Art mustn’t give up on trying to save the world, or at least speaking loudly about that world, both on and off the stage. The speech with which Milo Rau opened October 2024’s Bitef is probably among the most quoted speeches in the history of this Belgrade theatre festival, while
it certainly explains why this Swiss national is considered the “most interesting”, “most awarded” and “most controversial” theatre director of his generation. Rau explains that the speech emerged spontaneously, as soon as he realised that the theme of his play to be presented at Bitef overlapped with current events unfolding in Serbia, with the struggle of the people of the Amazon to protect their land from multinational mining companies reflected in Serbia’s own Jadar region.
“When I was in the Amazon, there was one sentence that had been written on all books and flags: “We nurture the earth, and she nurtures us”. What we do to the Earth will be done to us, whether that refers to love or hate, tenderness or greed. Yes, we are once again living in Dark Times (a callback of the title of his play addressing the wars of the former Yugoslavia) and wars surround us. As Sophocles wrote in Antigone: “We have only a little time to please the living, but all eternity to love the dead”. That’s why we celebrate beauty, unity and respect, here in Belgrade and wherever we are,” said Rau.
His warnings about the darker side of globalism drew even more attention: “The Amazon is 10,000 kilometres away from here, but we live in a globalised world: the same tragedy, the same wasteland is everywhere. Like in some teen monster movie, the same company, Rio Tinto, mines lithium in Serbia and bauxite in the Amazon –minerals needed for the ‘sustainable’ future of Volkswagen. It’s no wonder that there’s a saying in the Amazon: When you hear the word sustainable, run as far as your legs can carry you.”
The play Antigone in the Amazon marks the conclusion of a trilogy in which Rau couches ancient myths in a contemporary context. The struggle of Sophocles’ Antigone for justice in the Amazon of the 21 st century becomes the struggle of people for a dignified life. It was in Brazil that Rau discovered a fascinating and dark fact: that capitalism is devouring forestland and nature; and that 45% of the land is owned by only the richest 1%. Rau collaborated with the world’s largest movement of farmers in the Amazon rainforest: the Landless Workers’ Movement, MST (Movimento dos Trabalhadores Rurais Sem Terra), whose members include around 500,000 families in Brazil. MST members worked together with actors from the city theatre in the Belgium city of Ghent to stage the play. Like the choir of ancient dramas, they are the ones who inform the audience that “man
chops down forests in search of gold and other minerals, takes energy from rivers with the help of dams, forces children of the forest to forget about their native lands and takes ownership over the places where their ancestors lived”. According to Rau, this ancient drama provides an excellent foundation because it also includes a choir, which enables ordinary people
to have their own voice in the play.
“The message of Antigone is that it is better to defend your country. Antigone’s struggle is everywhere and her explicit NO to land grabbing practices is just as essential in Serbia as it is in Brazil,” believes Rau.
This director of political theatre, who notes with pride that he’s also an activist, turns to another connec-
Born in Switzerland and today resident in Germany, Rau performs all over the world. He acquired a broad education studying German and Romance languages and literature, but also sociology, at universities in Paris, Berlin and Zurich
Antigone in the Amazon
tion, one between Serbia and Germany, where he lives. German Chancellor Olaf Scholz also spoke during his recent visit to Belgrade about the potential for cooperation between the two countries to be strengthened with the opening of a mine for lithium and boron in the vicinity of Loznica. Rau says that he didn’t appreciate that invitation for Serbian citizens to sacrifice themselves for the sake of Europe. “I think this refers to an abuse of the EU concept. If you go somewhere to earn money, to turn a profit or help a company, if you link the future of Europe to the future of Volkswagen, you will endanger the very idea of the EU.
members of the Union? People want a different Europe. When I say this, I’m not suggesting that Mr Scholz is literally working directly for a company. This refers to the fact that the political system follows the lobbies of major companies and this is a big problem for citizens and democracy in Europe and worldwide,” said Rau addressing journalists.
Rau rejects as a strawman argument the question of whether movements that oppose mining represent an attempt by “environmental extremists” to halt progress that he himself enjoys, such as driving a Volkswagen or using a mobile phone. “On the one hand, it could be argued that you are correct because it’s impossible to live on this planet and not be included in the system. Nevertheless, you know very well that something exists called fair trade. There’s such a thing as the fair mining of lithium, as well as other ways to make batteries. The question is how you’ll operate and how you’ll cooperate with the people who live in that area? The hunt for lithium isn’t wrong in and of itself, electric cars aren’t wrong, but the question is how to get to those raw materials and who will pay the price for that and who will earn from that work?
That balance is the most important factor.” Rau considers movements that are sometimes disparagingly dubbed “eco terrorists” as being far less dan-
“I wanted to tell the story of this strange world in which we live. I sometimes just want to connect people, while I sometimes want to contribute to some change or to create something beautiful, in order to better understand who we are and how we live”
One nation, in this example Germany, occupies one idea and something that ought to be a democratic process (EU enlargement). People see that and I’m not sure if they remain interested in that project? Why would they be if they are to become an energy colony; a source of raw materials for wealthier
gerous than so-called greenwashing, which he recognises in the attempts of major companies to hide their ambitions to generate even greater profits behind tales of sustainable development and green technologies.
Born in Switzerland and today resident in Germany, Rau performs all
Photo by Jelena Janković, Bitef
over the world. He acquired a broad education studying German and Romance languages and literature, but also sociology, at universities in Paris, Berlin and Zurich. His plays have been performed at all major international theatre festivals, including in Berlin, Avignon, Vienna, the Venice Biennale etc. Prior to Antigone in the Amazon, Serbian audiences had already seen part of his rich artistic and activist oeuvre, which comprises more than 50 plays, books and films... His play Orestes in Mosul, which he created in collaboration with the students and professors of an art academy in Iraq, was previously performed in Belgrade.
Like many of Rau’s works, this play was created within the framework of his theatre project and production company the International Institute of Political Murder (IIPM). “Many of the projects I’ve made have addressed political violence. It all started because I wanted to create a play in Dresden about the five attempts to assassinate Adolf Hitler. I didn’t complete that play, but I subsequently created plays about the last days of the Ceaușescus, the Rwandan genocide, the war in the former Yugoslavia. A lot of projects including researching the ways violence impacts our society.” Rau has also addressed a paedophilia case in Belgium and the war for strategic raw materials in the Congo. This investigative journey has often seen him connect actors from opposing sides within a single play. The play Dark Age, which addresses the Yugoslav wars of the ‘90s, included the participation of actors from Serbia, Bosnia and Herzegovina, Germany and Turkey. Rau says that he would today like to bring together actors from Ukraine and Russia for a joint project. “I wanted to tell the story of this strange world in which we live. I sometimes just want to connect people, while I sometimes want to contribute to some change or to create something beautiful, in order to better understand who we are and how we live.”
Praised by critics and audiences alike, Rau isn’t well loved by the es-
tablishment. A number of his plays have been banned. It was forbidden in Germany to perform his play based on transcripts from the trial of Norwegian mass murderer Anders Breivik. The family of Romania’s former president put a stop to the performing of his play The Last Hours of Elena and Nicolae Ceaușescu by taking him to court. Moscow police also stopped a performance of his play The Moscow Trials, dealing with freedom of speech. His play Five Easy Pieces, representing a kind of psychological profile of Belgium serial killer of children Marc Dutroux, was censored or banned in Singapore and some German cities. Interestingly, the same play received awards in Belgium and at the Sarajevo theatre festival.
“Milo Rau is causing offence with his International Institute of Political
doctorate from Belgium’s Ghent University in 2020. As the current artistic director of the famous Vienna Festival (Wiener Festwochen), he speaks publicly about his concerns over the rise of the political right in Austria. He opposes the cutting of the budget for culture or the funding of only art considered politically and nationally appropriate.
When asked how a Swiss man considered as having been born with a silver spoon in his mouth could possibly be interested in the destruction of the Amazon rainforest, the consequences of mining in the Congo or lithium mining in Jadar, Rau answers with a question.
“One has to ask where Swiss people got that silver spoon. When I went to the Amazon jungle, I realised that many famous Swiss companies that
“Milo Rau is causing o ence with his International Institute of Political Murder. He stands for a generation that is reacting with uncompromising attention to the increasingly radicalising reality”. This was the text explaining the 2016 decision to award Rau Germany’s prestigious German ITI Award (International Theatre Institute (Deutsches Zentrum))
Murder. He stands for a generation that is reacting with uncompromising attention to the increasingly radicalising reality. Taking a stand and demanding a stance, Milo Rau gives the theatre and society impulses that bring the explosive nature of global conflicts into our midst”. This was the text explaining the 2016 decision to award Rau Germany’s prestigious German ITI Award (International Theatre Institute (Deutsches Zentrum)), of which he became the youngest winner. He has since received German, Swiss or European awards almost every year, while theatre critics in more than ten countries have declared his plays the best. Rau received an honorary doctorate from Sweden’s Lund University in 2019 and an honorary
pay taxes in Switzerland, such as Glencore or Nestle, operate there, mining and growing soybeans or something else. I think Amazonia and Switzerland are very strongly connected, so why would I tell a story about Europe that doesn’t take into consideration the fact that this prosperity is based on exploitation elsewhere? Switzerland’s reality is global. That’s why we need that global solidarity and what I call global realism; a theatre with actors from various countries who can together present a story that we’re all part of.”
Antigone in the Amazon opens with the famous Sophocles’ line “Many things are terrible in the world, but nothing is more terrible than man”. Rau leaves the conclusion of the tragedy
to a member of the indigenous people of the Amazon, who takes the place of a Greek prophet in expressing concern that the consequences of the competition for cheap resources – regardless of the damage caused to nature and millions of underprivileged people – could return to Europe like a boomerang. “Our land was stolen from us 500 years ago and we are still alive. I worry about you Europeans, as you’re not used to apocalypse,” concludes this Amazonian prophet.
And Rau himself concludes: “The range from the most beautiful to the worst that man can be is wide. And we are witnessing both. And a person has to wonder how it’s possible that we are
Rau himself concludes: “The range from the most beautiful to the worst that man can be is wide. And we are witnessing both. And a person has to wonder how it’s possible that we are both beasts and angels at the same time. I wonder if there’s a system that would encourage us to be the best. Art serves that purpose, to speak the truth and contribute to the development of humanity”
both beasts and angels at the same time. I wonder if there’s a system that would encourage us to be the best. Art serves that purpose, to speak the truth and contribute to the development of humanity. So, returning to the start of the story, sustainability is a good idea, we should leave the
Earth to generations yet to come, but sustainability is abused in order for some to continue their destruction. That’s why we should listen carefully to what those who’ve already experienced everything – the people of the so-called periphery of the world – have to say about everything.”
Antigone in the Amazon
Photo by Jelena Janković, Bitef
POMPEII CAPS DAILY VISITORS TO 20,000
The ancient Roman site of Pompeii has limited daily visitor numbers to 20,000 following a surge in tourist activity. A record 36,000 people visited the site during the first week of October when the entrance was free, local media reported. Pompeii, famously preserved under volcanic ash from Mount Vesuvius’s eruption in 79 AD, remains one of the world’s best-preserved Roman archaeological sites. In 2023, nearly four million tourists explored the site— an increase of one-third compared to the previous year and surpassing pre-pandemic visitor levels.
EUROPE’S LAST LENIN MUSEUM CLOSES IN FINLAND
The last Lenin museum in Europe, located in Tampere, Finland, has officially closed, according to local media. Founded in 1946, the museum was the final remnant of several Lenin museums established across Europe in the 20th century. Housed in a historic building where Lenin and Stalin first met during a secret Bolshevik meeting in 1905, the museum has closed its doors for renovation. Museum director Kale Kalio told AFP that the decision was made as the name no longer reflected the narrative they wished to convey. The state-funded museum is set to reopen in February 2025 under a new name, shifting its focus to the evolution of Finnish-Russian relations in the 20th and 21st centuries.
WORLD’S FIRST WOODEN SATELLITE LAUNCHED INTO SPACE
Japanese engineers have launched the world’s first wooden satellite, LignoSat, marking a groundbreaking step in exploring renewable materials for space missions. Developed by Kyoto University and Sumitomo Forestry, the satellite was delivered to the International Space Station via a SpaceX mission and will orbit Earth at 400 kilometres. LignoSat, roughly palm-sized, aims to showcase wood’s potential for sustainable space exploration. Led by Professor Takao Doi, the team envisions a 50-year plan to plant trees and build wooden structures on the Moon and Mars, proving wood’s viability as a material for extraterrestrial applications.
CHINESE ASTRONAUTS BRING SPACE SAMPLES
Three Chinese astronauts have returned to Earth with 34.6 kilograms of space samples, Chinese state media reported. The samples, delivered to Beijing, represent the seventh batch of scientific experiments from the Tiangong Space Station, covering 28 studies on space life and materials. The Shenzhou-18 spacecraft, carrying Ye Guangfu, Li Kong, and Li Guangsu, landed in Dongfeng, Inner Mongolia. After spending 192 days in space since 25th April, the crew has undergone quarantine and extensive medical evaluations before briefing the media.
ITALIANS SPEND €24 BILLION ANNUALLY ON BEAUTY
Italians allocate approximately €24 billion each year to beauty care, according to the dermatology association Skineko. This figure includes expenses for facial, body, and hair care through cosmetic treatments, hair salons, and various products. Spending on cosmetics alone has increased by 31.5% over the past decade. Hair care products, including shampoo, gel, hairspray, and dyes, account for over €1 billion annually, while €9.8 billion is spent on hair salons, averaging just under €380 per household per year.
AUSTRALIA CANCELS $10 BILLION IN STUDENT DEBT
The Australian government has announced plans to cancel student loans for around three million citizens, totalling approximately $10 billion. This move, aimed at easing the rising cost of living, will impact 20% of all borrowers. According to Prime Minister Anthony Albanese, the changes will grant an average graduate with a loan of AUD 27,600 and a debt reduction of AUD 5,520. The debt cancellation is set to take effect on 1st June 2025.
TOP TECH
PICKS
From smart devices to gaming consoles, explore the latest must-have gadgets rede ning innovation this year
A temperature-controlled smart mug that keeps beverages at the perfect temperature, combining technology with daily comfort
Nanoleaf Matter
Essentials E27
LED Bulb
A smart bulb that can be controlled via smartphone or voice commands, enhancing home lighting systems
A high-end fitness bike providing live and on-demand classes, bringing the spin class experience to your home
Ember Mug²
Peloton Bike
Skylight Frame
A digital photo frame that allows users to display and share photos seamlessly, making it a thoughtful gift for loved ones
PlayStation 5 Slim
The latest iteration of Sony’s gaming console, offering a sleek design and immersive gaming experiences
Ultimate Ears Wonderboom 3
A portable Bluetooth speaker known for its robust sound and waterproof design, perfect for on-the-go music lovers
Fitbit Charge 6
A fitness tracker that monitors health metrics, including heart rate and activity levels, ideal for health enthusiasts
Garmin Forerunner 55
A user-friendly running watch with built-in GPS, perfect for runners seeking performance-tracking
BELGRADE NEW YEAR’S CONCERT
14 January – Sava Center
One of the most spectacular musical events in the country, the Belgrade New Year’s Concert, is returning to the Blue Hall of the Sava Center! Kick-off 2025 in grand style with a new musical season by the RTS Music Production ensembles—featuring the Symphony Orchestra and Choir under the direction of their new chief conductor, Srboljub Dinić. The concert will also showcase stars of the international stage, including soprano Sonja Šarić, mezzo-soprano Sofija Petrović, tenor Kwonsu John, and baritone Željko Lučić, along with brilliant young talents—pianist Bogdan Dugalić and violinist Luka Faulisi.
SUEÑO DE TANGO FESTIVAL
9-12 January, Constantinus Palace Hotel
Experience the enchantment of the Sueño de Tango festival in Niš from 9th to 12th January 2025. Witness the mesmerising artistry of maestros Silvina Tse and Julio Alvarez, alongside Maja Petrović and Marko Miljević, as they light up the dance floor with their passion and skill. Dive into the rhythm at the Gran Sueño milongas, where an outstanding lineup of DJs will keep the energy alive and the magic of tango flowing all night long.
BOHREN & DER CLUB OF GORE
25 January – Teatar 78
Belgrade welcomes the hauntingly beautiful sounds of Bohren & der Club of Gore! The German masters of ambient jazz are set to perform on January 25th, bringing their unique blend of atmospheric melodies and slow-paced jazz noir to the stage. Hailing from Nordrhein-Westfalen, Bohren & der Club of Gore promises an unforgettable evening of mesmerising soundscapes that transport listeners into a world of introspection and mood. Don’t miss the chance to experience their captivating live performance—an event that’s sure to resonate deeply with lovers of ambient and experimental music.
CORE CLARE SMYTH
An exclusive insight into the work and mind of the highly acclaimed chef Clare Smyth and her three-Michelin-starred restaurant, Core by Clare Smyth, in London’s Notting Hill. Clare Smyth’s food is of superlative elegance and redefines modern British cuisine. Through Core’s dishes, Smyth shares stories of ingenuity, nostalgia, and humour while showcasing outstanding produce from a collective of trusted suppliers who, like the team at Core, are dedicated and committed to excellence.
MY ROMAN YEAR
André Aciman
1960s Rome. As teenage André stands on the dock, his mother fusses over their luggage - 32 suitcases, trunks and tea chests that contain their world. The ship will refuel and return to Alexandria, the home where they have left their father, as the Aciman family begin a new adventure in Rome. André is now head of the family, with a little brother to keep in line and a mother to translate for - although she’s mute, she is nothing if not communicative.
CHICKEN WITH PLUMS
Marjane Satrapi
Brilliantly weaving together the past, present and future to explore the successes and joys, failures and disappointments of Nasser Ali Khan’s life and, through his story, the meaning of any of our lives - Marjane Satrapi has also once again presented us with a complex and deeply human portrait of the men and women of her country, and of pre-revolution Iran itself. She delivers this tremendous story about life and death and the fear and courage both require, with her trademark humour and insight. Chicken With Plums is Marjane Satrapi’s finest achievement to date.
ANTHONY BOURDAIN AND PHILOSOPHY
Scott Calef
Anthony Bourdain is famous for being brave enough to eat things most Americans would not regard as food, including a whole cobra, a raw seal’s eyeballs, and an unwashed warthog rectum. Bourdain was a heavy user of multiple drugs, a practitioner of Brazilian jiu-jitsu, and an exposer of sexual harassment both in the restaurant business and the movies. All his writings and recorded conversations are witty and penetrating, and he expresses strong personal opinions on many subjects, from vegetarianism to religion.
MAD WORLD: WAR, MOVIES, SEX
Slavoj Zizek
In a characteristically explosive barrage, Ljubljana’s most famous philosopher takes a passionate stance on the war in Ukraine, surveys the latest Hollywood blockbusters, and delivers detonations into a range of contemporary issues, from sexual politics in India to the prospects for a new Cold War. Ever attentive to moments where the bizarre and the epic join forces, among the questions Žižek considers here, Is the giant orgy planned to take place in Ukraine in the event of a Russian nuclear attack all that morbid?
THE AI-SAVVY LEADER
David De Cremer
Leaders, don’t let AI get the best of you. AI is coming fast and will affect every part of a business, including the role of the leader. Until now, leaders have largely ceded their role in the transformation—pushing strategy determination out to tech teams and leaving investment decisions with groups that don’t have a full view of the organisation. When responsible leadership is more imperative than ever, leaders are not stepping up to understand and execute in the new world of human-machine collaboration.
Faces & Places
Korea Donates Instruments to Serbia’s Forestry Institute
26/11/2024
The Embassy of the Republic of Korea has donated advanced analytical instruments worth EUR 114,000 to Serbia’s Institute of Forestry, enhancing its capacity to monitor environmental pollution and support research. This marks the second consecutive donation, following last year’s ICP spectrometer worth $140,000.
Bosnia and Herzegovina Mark Statehood Day in Belgrade
27/11/2024
The Embassy of Bosnia and Herzegovina hosted a special event in Belgrade to celebrate the country’s Statehood Day. Diplomats, officials, and distinguished guests gathered to honour this significant occasion, reflecting on Bosnia and Herzegovina’s history and achievements. The event featured cultural performances and traditional Bosnian cuisine, showcasing the nation’s rich heritage and its commitment to fostering regional and international connections.
JBAS Gala Event Held in Belgrade
29/11/2024
The Japanese Business Alliance marked the end of the year with a celebratory event attended by members, partners, and distinguished guests. Hosted by President Goran Pekes and Executive Director Oliver Lepori, the gathering highlighted the Alliance’s achievements and future goals. Ambassador of Japan Akira Imamura addressed the attendees with a speech emphasising the importance of strengthening economic and cultural ties between Japan and Serbia.
IWC Charity Bazaar Brings Global Culture to Belgrade
30/11/2024
The International Women’s Club of Belgrade (IWC) transformed the Hyatt Regency Belgrade into a vibrant hub of global culture and charitable giving. Visitors explored a diverse array of international crafts, cuisine, and holiday gifts, all while supporting women’s empowerment projects across Serbia. The IWC Charity Bazaar featured handmade crafts, festive decorations, and unique offerings from 25 embassies and organisations, making it a highlight of the holiday season.
Faces & Places
UAE Embassy Celebrates Statehood Day
2/12/2024
The Embassy of the United Arab Emirates hosted a grand event in Belgrade to mark the country’s Statehood Day, celebrating its rich heritage and achievements. Ambassador Ahmed Almenhali welcomed diplomats, officials, and distinguished guests, highlighting the UAE’s commitment to fostering global partnerships and cultural exchange. The event featured traditional Emirati performances and cuisine, offering a glimpse into the nation’s vibrant culture.
AI Summit Gathers Experts in Belgrade
3/12/2024
The AI Summit at the Palace of Serbia brought together over 130 delegates and 1,000 experts worldwide. Opened by Serbian Prime Minister Miloš Vučević and National Assembly President Ana Brnabić, the summit focused on unlocking the transformative potential of artificial intelligence through ethical, inclusive, and sustainable innovations. Key discussions included political strategies, fostering international cooperation, and building supportive ecosystems for AI advancements.
Finland Celebrates Independence Day
5/12/2024
The Embassy of Finland hosted a distinguished event in Belgrade to celebrate the country’s Independence Day. Ambassador Niklas Lindqvist welcomed diplomats, officials, and special guests, reflecting Finland’s independence journey and its commitment to international cooperation. The event featured Finnish cultural performances and cuisine, offering a taste of the nation’s rich heritage and traditions.
Swedish Embassy Celebrates St. Lucia
11/12/2024
Austrian Embassy Hosts Festive Year-End Cocktail
9/12/2024
The Embassy of Austria celebrated the end of the year with an elegant outdoor cocktail event in the garden of the Falkensteiner Hotel. Ambassador Christian Ebner welcomed diplomats, officials, and guests to an evening of festive cheer and Austrian hospitality. The event provided an opportunity to reflect on the achievements of the past year while fostering connections and setting the tone for continued collaboration in the year ahead.
The Embassy of Sweden hosted a festive celebration in Belgrade to mark St. Lucia’s Day, a cherished Swedish tradition symbolising light and hope. Ambassador Charlotte Sammelin welcomed guests, including diplomats and cultural figures, to an evening filled with traditional music, candlelit processions, and Swedish delicacies. The event highlighted Sweden’s rich cultural heritage and its commitment to fostering international connections through shared traditions.
Faces & Places
Svetlana Spajić Wins Europa Nostra Award
12/12/2024
Svetlana Spajić, a renowned traditional singer and cultural activist, has been honoured with the Heroes of Heritage award by Europa Nostra. The accolade recognises her exceptional efforts in preserving and promoting intangible cultural heritage. Spajić’s dedication to safeguarding traditional Serbian music and sharing it with global audiences has made her a leading figure in cultural preservation.
NBA Hosts End-of-Year Celebration
18/12/2024
The Nordic Business Alliance concluded the year with a festive event, bringing together ambassadors, members, partners, and distinguished guests to celebrate achievements and strengthen connections. Hosted by Executive Director Iva Petrović, the gathering highlighted the Alliance’s initiatives in promoting Nordic business values, innovation, and sustainable development in Serbia. The evening featured networking opportunities, cultural highlights, and a look ahead to upcoming projects in 2025.
Qatar Embassy Celebrates National Day
19/12/2024
The Embassy of Qatar hosted a grand event in Belgrade to commemorate the country’s National Day. Ambassador Faris Roumi Mohammed Shaheen Al-Nuaimi welcomed diplomats, officials, and distinguished guests to an evening celebrating Qatar’s rich heritage and achievements. The event featured traditional Qatari music, cuisine, and cultural displays, highlighting the nation’s commitment to fostering strong international ties and cultural exchange.
