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H.E. Mr. SERGIO LUIZ CANAES

Brazilian Ambassador to Serbia

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JULY ’14 / ISSUE No. 117

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COVER SEBASTIAN KURZ, Austrian Minister for Foreign Affairs and Integration

European Perspective IN CLEAR FOCUS

CONTENTS

PAGE 8

According to Minister Kurz, we have seen how much has been achieved in Serbia due to the clear focus of the current government on reforms and the EU

WHILE INSTITUTIONS SLEEP...

JOVANA GLIGORIJEVIĆ, Editor

GLOBAL DIARY

BUILDING BRICS BY BRICK

H.E. SERGIO LUIZ CANAES, Brazilian Ambassador to Serbia

F OOD IN THE SHADOW OF CRISIS ŽARKO GALETIN, Director of the Novi Sad Commodity Exchange (Produktna Berza Novi Sad)

SMALL STEPS TO A BETTER FUTURE SRDJAN VERBIĆ, Minister of Education, Science and Technological Development

EUROPEAN PERSPECTIVE IN CLEAR FOCUS

SEBASTIAN KURZ, Austrian Minister for Foreign Affairs and Integration

July 2014

A RELEVANCE TO THE WESTERN BALKANS? Nordic Cooperation and Innovation

E UROPE: AN APPEAL FOR GROWTH Banking

JUNCKER CHOSEN AS NEW EU LEADER

P ARTIES AND PRIZES British International School

TOGETHER FOR THOSE IN NEED

WE ARE LIVING A URREAL FARCE

Business Dialogue

Comment PAGE 6

JOVANKA JOVANOVIĆ, Director of Robert Bosch D.O.O.

Profile PAGE 86

C ITY OF CHILDREN’S CREATIVITY

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COMMENT

While Institutions

Sleep...

Perhaps everything that bombarded the heads of the Serbian public in June was just spin. However, there is one inconvenient truth about spin: it usually isn’t a lie. Let us consider, then, that the information we’ve been obsessed with for the past month is true and take a look to see what that tells us about the state of the society, institutions and systems we live in JOVANA GLIGORIJEVIĆ, Editor

une has passed, the first shock of the disastrous consestitution where minister Stefanović earned his doctorate. Then quences of the floods that engulfed Serbia has passed, and we watched live on national frequency as Mića Jovanović proved now other topics have come to the attention of the media the authenticity of his doctorate. Epilogue: that London really space. In public there is a school of thought that says we does not exist, but there is another, so therefore Jovanović can were subjected to various spin efforts in June, in order to draw our be a university professor. His resignation as rector has been subattention away from the question of responsibility for the consemitted. The dust has already settled on the bound document that quences of those floods. Jovanović presented as his doctorate, but it is still painful that Perhaps everything that bombarded the heads of the Serbian the local academic community, education system and science public in June was just spin. However, there is one inconvenient have been denigrated; that it is only important to satisfy form, truth about spin: it usually isn’t a lie. Moreover, practically as a rule, to bind several hundred pages and earn the title Dr. The service spin is truthful information that is only released at a certain time or of lies and dishonour have been legitimised. in a particular context, in order to divert pubIn such an atmosphere it was only a matlic attention away from other problems. Let ter of time before internet criminals, petty lius consider, then, that the information we’ve If nothing else, during ars and cheaters would lead the way to a mabeen obsessed with for the past month is June we learned that jor criminal. Alleged drug lord Darko Šarić has true and take a look to see what that tells us accused General Papaj (Popeye) that he set in Serbia we lack about the state of the society, institutions and up the whole process and that his best friend political maturity Systems we live in. is “the cooperating witness who formed the It started back in the midst of the flood Zemun Clan and used money from kidnapand rationality, waves, with hacker attacks on websites and ping and murder to buy machinery for laying that institutions do blogs. The common denominator was their asphalt”. The now already replaced UKP Chief not exist and that criticism of the government. There is no evRodoljub Milović, who Šarić named as Popeye, criminals are taken at passed a polygraph test given at his own reidence, nor is anyone claiming, that the government was behind the attacks. The governquest. Thus: an alleged master criminal who is their word ment interpreted the reaction of the OSCE currently being tried accuses a prominent ofto these events emotionally and personally, ficer of cooperating with the mafia. The officfeeling insulted and seeking an apology. There is not much room er takes a polygraph, which he passes successfully, but he is refor emotional outbursts in politics. If nothing else, we learned placed nevertheless. Then a certain Kosmajac is mentioned as the from the whole situation that we seriously lack political maturibiggest drug lord in the region. And now - the whole country is ty and rationality. running after Kosmajac. There are no charges against him and no Next followed a serious escalation of the bizarre. First, the investigation, but there are accusations. Peščanik.net portal published an article casting doubt over What does this teach us? Serbia needs institutions: universithe authenticity of the doctorate of interior minister Nebojša ties to produce Ph.Ds because their work contributes to science, Stefanović. Then the Peščanika site went down. Then another for the Prosecutor’s Office to collect evidence, and not for defendarticle was published offering evidence of the falsified London ants to be taken at their word, for the prime minister to coordinate Ph.D. of Mića Jovanović, Rector of Megatrend University – the inthe work of the government and for the police to arrest criminals. ■ 6 |

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INTERVIEW

European Perspective

IN CLEAR FOCUS SEBASTIAN KURZ

AUSTRIAN MINISTER FOR FOREIGN AFFAIRS AND INTEGRATION

According to Minister Kurz, we have seen how much has been achieved in Serbia due to the clear focus of the current government on reforms and the EU

EXCLUSIVE

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117 July 2014 | www.cordmagazine.com

century on from the Great War that was sparked partly as a result of tensions between Austria and Serbia, relations between Belgrade and Vienna have never been better. Today Austria is a strong supporter of Serbiaâ&#x20AC;&#x2122;s reform course and EU integration path and Austrian companies are among the top investors in Serbia, while Diaspora Serbs in Vienna make up an important part of the Austrian capitalâ&#x20AC;&#x2122;s multi-ethnic community. This month, during the breaks between many events that were held in the last week of June in Vienna and other European cities, we discuss the two countries, the state of affairs in the European Union and the EU accession aspirations of the countries of the Western Balkans with Sebastian Kurz, Austrian Minister for Foreign Affairs and Integration.

SUPPORT

PROCESS

The result is by no means a sign that voters are against the European Union, which is the most successful peace project in European history.

We remain committed to supporting Serbia in Brussels – based on the continuation of the European path by the Serbian government.

Accession negotiations are a dynamic process that depends on many factors, which makes it impossible to set clear dates.

■ Some analysts suggest that the recent European Parliament elections were historically important due to a shift in the balance of power in Europe in favour of voters. Meanwhile, others fear the rise of the anti-Europeans, eurosceptics. What is your position?

- The empowerment of the voters has already started much earlier. Today most policies of the European Union have to also be adopted by the European Parliament, giving the voters more say on many issues.

right conclusions from the historic events for our countries, and my conclusion from World War I is that never again must we consider war a legitimate means of political action. We must pool our sovereignty in the European Union and tackle

■ Marine Le Pen, the French far-right popu-

list leader of the Front National, has said that the French have come to understand that the EU “does not live up to the utopia they were sold”. She claims that as a “global anomaly” the EU is a deeply harmful, “anti-democratic monster”. How would you comment on that?

- I think one should not interpret the election outcome too easily or in one way or another. As analysts have demonstrated, this result has many root-causes, mainly domestic ones, and it is the task of all politicians, including myself, to try to understand the concerns of voters in our respective countries and to further engage in our dialogue with them. However, the result is by no means a sign that voters are against the European Union, which is the most successful peace project in European history. ■ Let us go back to the historical occurrence

I appreciate Mr Vučić’s commitment to the European future of Serbia and to thorough reforms which this country so badly needs. I am confident that these reforms will prepare Serbia better for the challenges ahead and strengthen its democratic institutions

that is most current this year – World War I. Professor Mark Cornwall wrote in The Guardian: “Most of the Hapsburg elite in Vienna – following Emperor Franz Joseph’s mind-set – were determined to crush ‘the Serbian snake’ and knew this risked provoking war. They took that risk and therefore bore a large portion of the blame for events spiralling out of control. The elitism of Austria-Hungary’s rulers and their paranoia about the Balkans is always a key factor in explaining why the Great War finally occurred.” What would be your comment?

- I don’t intend to comment on this debate, which should be left up to historians. The role of the politicians is to draw the

current challenges jointly, in order to gain strength and preserve peace together. ■ Back to the present times, how

do you see the Balkans nowadays? What are our advantages and what are the obstacles to the European integration process?

- The Balkans is in all respects a European region. The European perspective is the most important incentive for reforms in the region. Furthermore, the people of the Western Balkans are interlinked in so many ways that a common European perspective is the logical consequence. It is, therefore, also one of the strategic goals of Austria’s foreign policy. As we have seen in the last few years, the European perspective actually works, if we only look at the dialogue between Pristina and Belgrade. However, it is clear that obcordeditorial@cma.rs |

117 July 2014 | 9

stacles remain to be overcome: reforms have to continue, regional cooperation must be intensified, and politicians in some of the countries must take on the responsibility for the European future of their countries. As far Serbia is concerned, we have seen how much has been achieved due to the clear focus of the current government on reforms and the EU.

path, I am also glad that Austria was able to help during the recent flood crisis in Serbia and Bosnia-Herzegovina. We deployed rescue and pumping teams very quickly and the Austrian government decided to donate 1 million Euros to Serbia and Bosnia-Herzegovina. All this should be understood as a sign of Austria’s support for your country. ■ Do you believe Serbia can com-

■ This month you met with Ser-

plete accession talks by 2018?

- Accession negotiations are a dynamic process that depends on many factors, which makes it impossible to set clear dates. Serbia will have Austria’s full support to open the first negotiation chapters still during this year, and to open as many as possible in due time.

bian Prime Minister Aleksandar Vučić in Vienna. What is your opinion on both political and economic reforms in Serbia?

- I have already had two very constructive meetings this year with Mr Vučić, one during my visit to Belgrade in February this year and one during Mr Vučić’s visit to Vienna. I am glad to say that both visits were extremely friendly. I appreciate Mr Vučić’s commitment to the European future of Serbia and to the thorough reforms which this country so badly needs. I am confident that these reforms will prepare Serbia better for the challenges ahead and strengthen its democratic institutions. ■ In one interview you said that

it is in Austria’s own interests to have Western Balkan countries, Serbia especially, in the EU. What kind of support can we expect in the future?

■ I’m sure you would agree that

The role of the politicians is to draw the right conclusions from the historic events for our countries, and my conclusion from World War I is that never again must we consider war a legitimate means of political action

- In all the numerous bilateral contacts between Serbia and Austria this year we have reiterated our support for Serbia’s EU-integration. I also wanted to further highlight our support by attending the opening of the enlargement negotiations on 21st January in Brussels. We remain committed to supporting Serbia in Brussels – based on the continuation of the European path by the Serbian government. Besides our support for Serbia’s European

Youngest Minister Ever

the Balkans needs more tolerance in every sense: political, ethnic, social, religious. When Conchita Wurst won the Eurovision song contest in May with pledges to promote tolerance, the Austrian president, Heinz Fischer, said it was “not just a victory for Austria, but above all for diversity and tolerance in Europe”. What is the minimum level of tolerance that Europe needs in order to overcome the consequences of current differences?

- The European Human Rights Convention sets out clear human rights standards in our countries. It prohibits discrimination on the grounds of someone’s personal status and this clearly includes sexual orientation. I am very glad both Austria and Serbia have ratified this important convention and that Serbia has forbidden discrimination by adopting a special law already years ago. From now on, the focus should be on its implementation. ■

Born 1986 in Vienna, Sebastian Kurz was elected chairman of the youth branch of the Austrian People’s Party in 2009 and served as a member of the Vienna City Council between 2010 and 2011. Appointed to the newly created post of State Secretary for Integration within the Austrian Ministry for Internal Affairs in April 2011, he became a member of parliament following Austria’s 2013 general elections. In December 2013 he became Austria’s minister for foreign affairs and Social integration, thus becoming Austria’s youngest ever government minister since the foundation of the republic and the youngest foreign minister of any country in the European Union.

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INTERVIEW

Small Steps to a

BET TER FUTURE SRDJAN VERBIĆ MINISTER OF EDUCATION, SCIENCE AND TECHNOLOGICAL DEVELOPMENT

Serbia’s new Minister of Education experienced a baptism of fire when he found himself embroiled in the controversy surrounding the academic credentials of notable public figures. But more important to Srdjan Verbić in the long term is elevating the status and standards of education and science for a better tomorrow

ince 2000, Serbia has treated education and science like a wicked step-mother would her step-daughter. So when it was announced two months ago that Srdjan Verbić would be appointed Minister of Education, Science and Technological Development, the news was welcomed by the academic community. Verbić graduated in theoretical physics from the University of Belgrade, got his Ph.D. in education and has been the long-standing chair of the natural science and mathematics programme at the Petnica Research Station. He has been working at the Institute for Evaluating the Quality of Education since 2005, first as an advisor and natural science coordinator, and then, as of 2013, as the chair of its Examination Centre. He got his Ph.D. from the University of Belgrade in January 2014; the subject of his doctoral thesis was evaluating knowledge tests. He has written three elementary-school physics books and the academic community holds him in high esteem due to his 20 years of experience in educating gifted high-school students. 12 |

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Having won the city of Belgrade’s October Award for best astronomy project at just 16 years old, the now-44-year-old Verbić’s roots in the scientific and educational community run long and deep. On the other hand, critics of Verbić suggest he lacks political skills, citing the affair surrounding the false Ph.D. obtained by the now former rector of Megatrend University, Mića Jovanović. Despite keeping quiet initially, the Ministry of Education came to use the means at its disposal to carry out an international verification of Jovanović’s Ph.D., which he claimed to have defended at the London School of Economics. Jovanović subsequently resigned from his position as head of Megatrend. CorD’s interview with Verbić coincides with this year’s high school entry exams, which are among the sensitive issues wrapped up in education reform following last year’s affair in which the final exams were leaked. We speak with the minister about the results of these reforms, the future of the Serbian education system, the importance of educational standards complying with the demands of the labour market and about Serbia aligning its education policies with international and European standards.

■ Regarding education reform in Serbia, how satisfied are you with the results so far?

- First of all, we cannot claim to have conducted education reform

REFORM

SCIENCE FUNDING

LABOUR MARKET

We cannot claim to have conducted education reform in Serbia, or rather we cannot talk about it as a done deal.

One of the measures state secretary Dr. Aleksandar Belić has discussed on many occasions is a gradual annual increase in budgetary allocations for science.

For years state institutions have been fulfilling the labour market’s needs by identifying the qualifications that are most in demand.

in Serbia, or rather we cannot talk about it as a done deal. Improving education is a continuous process with no time limits. The first step is the final exam, which we have introduced gradually, and for which pupils took a long time to prepare and complete successfully. At the same time, we are implementing other changes. One day we will be able to call this combination of small steps the reform of our education system. ■ What are the biggest flaws and burning issues in the education system overall?

- We’re facing a huge problem, which is motivating students to learn. If they were better motivated to learn, for their own sake and not for the sake of their grades, if the teachers were better motivated to improve their work, and if we, the education policymakers, learned from other people’s mistakes, our progress would be fast indeed. The issue of how to find motivation in a situation in which completing your education does not guarantee work, the continuation of a career or personal satisfaction gained from the effort invested is still an open one and difficult to resolve. To start off with, we need to search for positive examples in our own environment and pay due respect to them. Anyhow, I don’t think we have burning issues within our education system if by “burning issues” you mean issues we need to resolve quickly in order to prevent a complete collapse. ■ You went to Croatia recently, where you met

with the Croatian Minister of Eduation to discuss cooperation between the two countries. Could you elaborate on that visit, the topics discussed and the agreements reached?

Minister Mornar was appointed only recently, and since I haven’t been a minister for a long time either, it was interesting exchange of experiences given we are both novices in office. ■ The recognition of foreign diplomas is one of the Serbian sys-

tem’s longstanding problems. You have promised to expedite the whole process. How?

- Our scientific diaspora is an exceptionally important resource, and studying abroad is, in my opinion, something many of our stu-

If students were motivated to learn for their own sake and not for the sake of their grades, if teachers were motivated to improve their work, and if we policymakers learned from other people’s mistakes, our progress would be fast indeed

- I met with the Minister of Education, Science and Sport of the Republic of Croatia, Vedran Mornar, and his team. We discussed cooperation in education and science and how we can improve things further. For instance, I wanted to know what their diploma nostrification [recognition of foreign degrees] centre looked like because we are busy establishing ours. I also participated in a seminar about e-learning and IT in education in which we exchanged experiences within this very important topic. I also visited the Croatian Agency for Mobility and EU Programmes, which implements the Erasmus Plus project aimed at helping students who’re spending some of their studies or practice at foreign universities.

dents need to experience. At foreign universities they can gain knowledge and experience unavailable to them here and that is especially important for our academic community. However, the most important thing is for them to return to Serbia once they complete their studies and bring their acquired knowledge with them. It is up to us to make that easy for them. First and foremost, we need to make a distinction between two different procedures – nostrification of diplomas for the purpose of finding a job and nostrification of diplomas for the purpose of continuing to study. The first comes under the authority of the Ministry of Education, Science and Technological Development, i.e. its nostrification unit or the ENIC centre, which is part of the European Network of National Information Centres for Academic Recognition and Mobility. We plan to significantly develop this centre, which employs only one person currently. The second procedure – the nostrification of diplomas for the purpose of continuing with studies – will be carried out, as always, cordeditorial@cma.rs |

117 July 2014 | 13

at the instances of higher learning. The deadline for nostrification in both cases will be three months at most, and we will have identical price lists so as to avoid the situation we have had so far, in which certain faculties have been charging much higher nostrification fees than others. ■ Regarding the relation between education and the labour mar-

ket, what can the ministry do and what kind of authority does it have to ensure the education system complies with the needs of the labour market?

- This is one of the most important issues. For years state institutions have been fulfilling the labour market’s needs by identifying the qualifications that are most in demand. Based on that, we can gain some kind of picture of the qualifications that must be obtained in the education system. However, this picture is not detailed enough, which is why sectoral councils have been set up; they will be permanently engaged in finding qualifications at all levels within the national qualifications framework. The Ministry of Education is just one of this project’s partners and is working together with national councils, institutions and other ministries.

researcher sees an opportunity to apply it in future or not. Science should be engaged in developing the capacity of the academic community, which in turn will provide better and more comprehensive education for future generations. Some of these new generations will come up with innovations and enable the commercialisation of knowledge, but not everybody should be engaged in this. If we don’t develop fundamental research, we cannot talk about developing applied science. On the other hand, it is really important that all of us, scientists included, understand that the labour market is becoming more competitive and that we need to fight. This competition, which innovators are already familiar with, is still unknown to many researchers. Competitiveness is the key word. ■ Budgetary allocations for science in Serbia have been unusually low in the past. Do expect this to change in the near future? - One of the measures state secretary Dr. Aleksandar Belić has discussed on many occasions is a gradual annual increase in budgetary allocations for science. Last year just 0.34% of Serbia’s GDP went to science and our idea is really simple: if we fail to reach the European level of science allocations – 1% of national GDP – let’s at least try to get as close to it as possible.

■ Serbia still doesn’t have that na-

■ What is Serbia’s future when it comes to PISA (Programme for International Student Assessment) tests?

tional qualifications framework, i.e. a list of all professional qualifications available, which is why 60,000 people are virtually invisible to the labour market. Will this document be made available soon?

- We are currently ascertaining a legal and institutional structure that will be an umbrella for the national qualifications framework. We are currently in the phase of integrating pre-university and higher learning frameworks. Once these frameworks are set up, Serbia will carry out the so-called referencing of its own national qualifications framework in relation to the European qualifications framework. ■ The importance of science to eco-

Our scientific diaspora is an exceptionally important resource and studying abroad is something our students need to experience. However, most important is that they return once they complete their studies and bring their knowledge with them

- I think it is exceptionally important that we participate in this project because we stand to learn a lot from organising these kinds of international testing events. The procedures for implementing PISA testing are a great example of how we should organise and implement our national tests. The final test result is less important. What is important is that we remain objective in assessing the level of knowledge in order to finally start making decisions based on empirical data, not personal impressions. ■ How much does our education sys-

nomic development has too often been neglected. Can you explain the importance of science to an economy?

tem comply with the rest of Europe, not only in terms of content but also culture-wise? And how important is compliance regarding Serbia’s EU accession ambitions?

- I think people don’t take the link between science and the economy seriously. There is this preconceived notion that science should focus on technological solutions that are to be swiftly and efficiently applied in production. However, it’s not that simple. The aim of science, as an discipline, is to develop a studious and critical relation towards the phenomena it studies, regardless of whether a

- The Serbian political scene agrees on the importance of Serbia becoming an EU member. The accession process will be far from easy and will be challenging in many ways for all of society. Education is part of that process, both in chapters that are to be negotiated and in terms of concrete improvements made to the education system. This is one of the absolute priorities for us in the ministry. ■

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Digital

GLOBAL DIARY

“I am proud that EU funds help researchers develop digital tools that can save lives. This project also shows the power of data in solving real-life problems.” — Neelie Kroes, European Commission vice president

Spain's King Felipe VI Begins a New Reign

Felipe Juan Pablo Alfonso de Todos los Santos de Borbón y Grecia, Felipe VI, King of Spain, has been officially sworn in as the new king of Spain at the country’s parliament following the abdication of his father, Juan Carlos. The coronation ceremony lacked the usual pomp and ceremony associated with a royal coronation, in recognition of the hardship being endured by many Spaniards in austere times. The 46-year-old, wearing military uniform with a sash, took an oath of loyalty to Spain’s constitution before giving an address. “We have a great country. We should all be proud of being Spaniards,” Felipe, who officially ascended to the throne at midnight on 18th June, said at the ceremony. To shouts of “Viva el Rey (Long live the king)!”, Felipe said: “Today, more than ever, the people rightly demand our public lives be guided by... moral and ethical principles.”

Polish Foreign Minister Called Ties to U.S. 'Worthless'

to form a view based on a few excerpts of a conversation, but there might be a comment later. There also was no immediate comment from the U.S. State Department.

Flemish Woman Leaves €916,350 to Oxfam RADOSLAW SIKORSKI

A Polish news magazine reported on 22nd June that it had obtained a secret recording of Foreign Minister Radoslaw Sikorski, in contention for a senior EU job, saying Poland’s relationship with the U.S. was worthless. The magazine said the recording was of a private conversation earlier this year between Sikorski and Jacek Rostowski, a Polish MP with the ruling Civic Platform who served as finance minister until last year. According to a transcript of excerpts of the conversation that was published by Wprost on its website, Sikorski told Rostowski: “You know that the Polish-U.S. alliance isn’t worth anything.” The magazine did not say who recorded the conversation or how it obtained the recording. Both Sikorski and Rostowski had no immediate comment. A government spokeswoman said it was hard 16 |

The charity Oxfam-Solidarity has received a €916,350 windfall from the will of a woman from the Flemish town of Eeklo. Oxfam Belgium reports that this is the biggest gift

will be spent on one of our many development projects in Africa, CentralAmerica or Southeast Asia.”

Infrared scans revealed the image of a well-dressed gentleman under “The Blue Room,” paint-

Mystery Man under Picasso's 'Blue Room' Art experts will be combing the archives, analysing correspondence and scrutinising sketches and photographs to try to identity a mystery man whose portrait was discovered hidden under “The Blue Room,” a 1901 painting by Pablo Picasso.

ed during the artist’s early days in Paris. Art experts are eager to learn who the man was, how he

Moon to See First Tourists by 2017

that Oxfam Belgium has received in the past 15 years. Agnes Devisscher died aged 86 on 21st March. She had worked at the Inland Revenue in the East Flemish city of Ghent. She had no husband or children. Petra Van Wynsberghe of Oxfam told the papers that “One day her notary contacted us. He told us that she had left her entire €916,350 estate to Oxfam. This is the biggest gift we have received in 15 years. The money

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The moon will welcome its first tourists as early as 2017, Space Adventures, a U.S.-based space tourism company, announced last month. A single roundtrip ticket will cost $150 million. According to the head of Space Adventures, Tom Shelley, two brave passengers have agreed to spend a fortune on the tickets, the MIT Technological Review reported. The company did not disclose the customers’ names. The two will pay $150 million each for a one-day tour around the International Space Station (ISS) on board a Russian Soyuz spacecraft monitored by professional cosmonauts. The package also includes training at the Mission Control Centre in Russia’s Star City, where all cosmonauts prepare for their missions, and a 17-day flight to the moon and back. This is a unique chance to join the team of 18 moon-conquerors who landed on the moon as part of six missions from July 1969 to December 1972. Space Adventures describes the mission as good old deep space exploration, as no human has left low earth orbit since the Apollo 17 mission of 1972, which was NASA’s final flight to the moon. According to the Moscow Times, NASA currently buys rides to the ISS for its astronauts at $76 million a seat, according to the most recent contract signed between NASA and its Russian counterpart.

Credibility “The credibility of the Union depends on its ability to ensure that its institutions and member states follow up on decisions taken.” — Herman Van Rompuy, President of the European Council

was connected to Picasso and why his portrait was painted over. Researchers are hoping that material from the Museu Picasso in Barcelona, and another museum in Paris, will offer clues to help solve the puzzle. Knowing more about the man shown seated with his right hand touching his cheek could help researchers understand the process and changing style of the celebrated artist. Source: Reuters

Pope Excommunicates Mafia The pope excommunicated the mafia on 21st June, blasting a group that is thought to be the most pow-

for two decades, after criticism over 20 years ago triggered revenge attacks in Italy. The mafia is an example of the “adoration of evil and contempt of the common good,” he said. In unplanned remarks about the ‘Ndragheta’ crime group to thousands of people at a mass in southern Italy, Pope Francis said, “Those who in their lives follow this path of evil, as mafiosi do, are not in communion with God. They are excommunicated.” The pope said that the church would use its full force to combat organised crime. “Our children are asking for it, our young people are asking for it,” he said. The comments came after the pope met the family of a threeyear-old child murdered earlier this year. Authorities believe that the ‘Ndrangheta’ are behind the killing, in which two other people died.

Assange Embassy Policing Costs Over €8.0 mln erful organised crime group in the world. It is the most severe condemnation of the mafia by a pope

The cost of policing WikiLeaks founder Julian Assange’s asylum at Ecuador’s embassy in London has passed £6 million, Scotland Yard

said last month, two years to the day since he sought refuge there. The €8 million figure comes after Britain’s foreign office urged Ecuador to bring Assange’s “difficult and costly residence to an end”. Assange has been holed up at the embassy in London’s prestigious Knightsbridge district to avoid extradition to Sweden, where he faces allegations of sexual assault. The foreign office insists it remains “as committed as ever to

Battle of the Nations

Swords clashed and armour clanged as Croatia played host to “Battle of the Nations,” an annual sporting event which sees participants dress up in medieval-style gear and fight, this year held in the small coastal town of Trogir. Bouts are not mere reenactments, but full-contact affairs in which winners and losers are determined in various categories by the number of blows they deliver, or whether they can make their opponents fall to the floor. Some 25 national teams took part in the four-day event, which was hosted in the coastal town of Trogir. Specially adapted weapons, with their edges rounded to make them safer, are used during the fights. The Battle of the Nations World championship was first held in 2009 reaching a diplomatic solution to this situation”, but stresses that Assange must be extradited. However, Ecuadorian President Rafael Correa said that Assange would have his country’s protection for as long as he needs it. Scotland Yard would not disclose how many police are involved in the operation “for security reasons”.

A day earlier Serbia‘s Education Minister, Srđan Verbić, said that authorities may launch criminal proceedings against Jovanović. The incident is the latest in a series of scandals involving disputed degrees claimed by leading politicians and businessmen in Serbia. However, none of the scan-

Serbian University Dean Resigns Over Fake Ph.D Claim The dean of Serbia‘s largest private university, Megatrend, agreed to resign recently after it emerged that the doctoral thesis he claimed to have written does not exist. Mića Jovanović confirmed to Serbian media that he will step down, but insisted that he did not lie and that he will travel to London to retrieve the thesis, which he claims has merely been lost.

MIĆA JOVANOVIĆ

dals - from the arrest of professors suspected of selling diplomas at Kragujevac University in 2007, to plagiarism allegations against Interior Minister Nebojša Stefanović this month - have resulted in a trial leading to a verdict. Source: www.sundiatapost.com

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INTERVIEW

Building

BRICS BY BRICK H.E. SERGIO LUIZ CANAES BRAZILIAN AMBASSADOR TO SERBIA

Over the last 20 years Brazil has become one of the world’s greatest economic success stories. With vast natural and human resources at its disposal, the country is at long last punching its weight globally. In terms of trade ties with Serbia, however, there remains much for the two countries to do

razil has become familiar with the process of planning and preparation, and with enjoying the results. This year sees the football-crazy country hosting the FIFA World Cup for the first time since 1950 and 2016 will bring the Olympics to Rio de Janeiro. Similarly, the Real Plan put in place by the Brazilian government in 1994 sowed the seeds of an economic reform process that has seen the country grow into the world’s seventh largest economy. Now, with Serbia hoping to put in place something similar, current Brazilian Ambassador to Serbia Sergio Luiz Canaes speaks to CorD about the background to his country’s astonishing recent success and the best hope for improving Serbia and Brazil’s bilateral ties. ■ Brazil is currently at the centre of the world’s attention due to the

football World Cup. How much has this year’s competition changed

try’s population lives in the host cities, which are huge megalopolises. Although some might feel uncomfortable with the traffic jams during the tournament, the truth of the matter is that the infrastructural improvements required by the World Cup will last beyond the event and benefit the entire population. The areas around the stadia will become commercial hubs, with shopping malls and concert halls, or will host office premises, kindergartens or even health centres. In a nutshell, following a brief period of discomfort caused by the World Cup preparations, joy and enthusiasm already prevail for both the Brazilian hosts and our foreign guests. ■ Brazil’s beauty is seen to come from its natural wonders, but equally, many believe Brazil’s greatest treasure is its people. How do you see your country?

- For most Serbians, Brazil is the land of football, Carnival, beaches and, of course, a land of nature at its most exuberant and the rainforest. For many people, it comes as a surprise to learn that Brazil is an important producer of airplanes and cutting-edge technology. Brazil is also culturally and ethnically diverse, with a rich tapestry of music, cuisine, dance, literature and religious beliefs. All of this diversity is what makes Brazil truly unique, and our challenge at the start of the 21st century is to ensure equal opportunity for all, in particular at life’s starting point: education. People are Brazil’s real treasure.

■ These days Brazil is the most developed economy in South America,

everyday life in the country?

ranked seventh in the world. What forms the basis of Brazil’s eco-

- The fact is that the large economic and social improvements of the last 20 years have already changed Brazil a great deal and in a sense prepared Brazilians for this competition. A significant portion of the coun-

nomic development strategy?

18 |

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- The recovery of the Brazilian economy started 20 years ago with the Real Plan, which tamed inflation and provided stability for the privati-

INVESTMENT

CHALLENGE

TRADE

Direct foreign investment in Brazil has increased annually since 1994, increasing from $45 billion in 2010 to more than $60 billion in 2012.

Brazil’s challenge at the start of the 21st century is to ensure equal opportunity for all, in particular at life’s starting point: education.

Serbian-Brazilian bilateral trade amounts to $120-140 million per year overall, with a major imbalance in Brazil’s favour.

sation of our state-owned companies. Allured by what they perceived as sustainable development and the inner wealth of the country, foreign investors focused on Brazil and contributed strongly to improving our industry and agricultural production in the late 1990s. Recent economic development and overcoming the world crisis smoothly were based, firstly, on social inclusion and the creation of a strong internal market; millions of Brazilians were lifted out of poverty and incorporated into the modern market economy. Secondly, the socalled ‘commodities boom’ caused by higher international demand was matched by fantastic growth in Brazilian agricultural production. Simultaneously, Brazil also improved its production of high-technology goods; today Embraer is the third largest producer of airplanes in the world. We still have to overcome deficiencies that lead to low productivity and high costs. One of the most important aspects of sustaining our development is infrastructure: better roads and ports, together with the development of river and railway transport, will lead to a reduction in crop losses and transport costs, thereby increasing producers’ income.

largest foreign investors. How would you explain this fact?

- Brazil has favourable foreign trade exchange with the world in general. Its exports and imports are spread in a balanced way among different economic or regional blocs. In contrast with what happened in the 1970s, when our largest foreign trade partner was the United States, today Asian countries account for about 30% of Brazil’s foreign exchange – China in particular. Latin America and the Caribbean, and the EU countries, with about 20% each, take second and third place respectively. The US ranks fourth with 11% of the share. Direct foreign investment has increased annually since 1994. To give you an idea, it increased from $45 billion in 2010 to more than $60 billion in 2012, which shows clearly the dynamism of our economy and investor confidence. Today’s foreign investors are less concerned by geographical distance, putting a higher premium on safety and rate of return. Our main foreign investors are located in Europe, the U.S., Canada, China and Japan. ■ To what extent has being known as one of the BRICS nations con-

■ Despite the great geographical distance, the EU is one of Brazil’s

tributed to Brazil’s economic development?

most important trade partners and home to some of the country’s

- As you know, this acronym was created by a Wall Street Journal

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journalist in the early 2000s. The original group comprised Brazil, Russia, India and China; South Africa joined in 2010. The group is heterogeneous, its commonalities being that they are large countries in terms of territory and population, and have a growing participation in the world’s GDP. Apart from China, which is an important trade partner and still has a high growth rate, all of the others have slowed down recently. BRICS members are currently concentrating on institutional stability to ensure solid and durable arrangements and agreements for cooperation and trade, not only within the group, but with other partners too. One concrete result of this cooperation, among others, is an international financial institution similar to the World Bank, which should be up and running next year. It will offer an alternative source of financing for infrastructure projects in developing countries. The existence of the BRICS is justified by the impact of their economies on the world economy: over the next few years, they should represent one fifth of world GDP and have the ability to shape the economic development of other developing nations. ■ How would you rate bilateral cooperation between Serbia and Brazil overall?

- Our overall cooperation remains below its real potential and has been stagnant for the last 10 years. Overall bilateral trade amounts to $120-140 million per year, with a major imbalance in Brazil’s favour. Last year was an exception, however, because Serbian companies succeeded in exporting industrial equipment for a Brazilian steel plant. It should be noted that the majority of Serbian imports from Brazil arrive via third countries and are not easily identifiable when one peruses the official statistics.

potential?

- Brazilian companies have increased their international activities over the last decade and our civil construction corporations have been active abroad for many years. Their current priorities are Latin America and Africa but the Balkans should start to bleep on their radar screen sometime soon. For example, Brazilian engineering companies have shown interest in the construction of highways in Serbia and we will try to entice them to take advantage of opportunities such as Corridor XI, the completion of the highway around Belgrade and the upcoming privatisation of Serbian companies that are in the phase of restructuring. I also believe there are investment possibilities in the fields of agriculture and meat production. ■ During a recent meeting with President Nikolić you announced the possibility of abolishing tourist visas. How else can the traditional friendship between Serbia and Brazil be improved further?

Serbia is not yet well known in Brazilian business circles so the Brazilian Embassy in Belgrade has been working with the Serbian Chamber of Commerce and government agencies to organise trade missions to Brazil

■ Serbian-Brazilian trade consists of, among others, chemical and pharmaceutical exports and coffee, cocoa, soybean and cotton imports. Where do you see room for the improvement?

- As I just explained, our bilateral trade is in fact decreasing. In 2013, for example, it was lower than in 2007 or 2008, although Serbian exports grew substantially in 2012 and 2013. Our main export to Serbia is coffee, which is purchased from neighbouring countries such as Italy, Slovenia and elsewhere, and therefore does not show in Brazilian statistics. Other products are tobacco and concentrated orange juice. Commodities such as soybeans, animal rations and iron ore have disappeared from our exports to Serbia. To improve our trade relations, we have to first of all increase the participation of industrial products. To reach this goal, trade missions are crucial. Serbia is not yet well known in Brazilian business circles so the Brazilian Embassy in Belgrade has been working with the Serbian Chamber of Commerce and government agencies to organise trade missions to Brazil. I hope our efforts will bear fruit in the near future. 20 |

■ How does Brazil view the Western Balkans in terms of investment

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- Thank you for offering me the opportunity to clarify this issue. I guess there was a misunderstanding here: tourist and business visas between Brazil and Serbia were abolished last August, almost one year ago. Citizens of both countries have been travelling freely between Brazil and Serbia for almost a year now. No visas are required. ■ In the past Serbia has probably been most

recognisable to Brazilians either for the wars of the 1990s or for footballer Dejan ‘Rambo’ Petković, who spent much of his career in Brazil. How do things stand today in this regard?

- You are absolutely right that ‘Rambo’ Petković, known in Brazil as ‘Pet’, has contributed to spreading a favourable image of Serbia in Brazil. Now, again thanks to football and the friendly match played on the eve of the World Cup in Sao Paulo between our two countries, the image of Serbia has acquired even clearer contours. On a less happy note, your country was all over the media in May as well due to the floods, but this visibility – both joyful and sad – has contributed to bringing Brazil and Serbia closer together and to putting Serbia on the map in the Brazilian mind. ■ As a Brazilian, you must certainly be expecting your team to win the

World Cup – and most people in Serbia are expecting the same. Who would you like to meet in the final?

- We hope indeed to win the World Cup for the sixth time. It is particularly meaningful given what happened in 1950, the last time we hosted the championship [Brazil lost the decisive match to neighbours Uruguay 2-1, an event known as the Maracanazo (‘Maracanã Blow’) and widely considered to be the greatest trauma in Brazilian football history]. All participants are very well prepared, however, so the final contestants are unpredictable. ■

EU ELECTION

Juncker Chosen as New EU Leader After weeks of discussion and a bruising confrontation with Britain, European Union leaders have nominated Jean-Claude Juncker for European Commission president by an overwhelming majority over the fierce objections of David Cameron, UK prime minister, who has called it “a bad day for Europe leaving the EU. He has vowed to diminfavoring, emish the power of bureaucrats in Brussels pire-building before holding a referendum on Britain’s Brussels clique EU membership in 2017, provided he who won’t reJEAN-CLAUDE JUNCKER and ANGELA MERKEL wins re-election next year. turn powers to Cameron said Juncker’s appointment nations — something that voters apith the move, the EU leadmakes it more difficult to make the case peared to want after Euroskeptic parties ers broke a decades-old at home for the benefits of EU membermade serious gains in May’s European tradition of choosing the ship. “The job has got harder; the stakes Parliament elections. president of the European are higher,” he said. “If you believe in a principle, you Commission by consensus. Summit Some EU leaders sought to appease should stand up for it,” Cameron said. “I’m chairman Herman Van Rompuy said 26 Britain to make sure the island nation deadly serious to fight for EU reforms.” of the bloc’s 28 countries had voted for won’t choose to leave the bloc, but othThe British leader called the decision to Juncker, with only Britain and Hungary ers appeared upset by Cameron’s outabandon the consensus process “a serious opposing him. spoken campaign. mistake,” adding, “By working together, “Sometimes you have to lose a bat“They cannot alone block the 26 or we could have found another candidate.” tle to win the war,” British Prime Minister 27 others countries that agree,” Belgian Juncker, who governed tiny David Cameron declared after the vote, Prime Minister Elio di Rupo said. Luxembourg for almost two decades, calling the longtime Brussels insider “the Finnish Prime Minister Alexander played a crucial role in shaping the shared wrong person” for the high-profile job Stubb said Britain is an imporof leading the bloc of 500 miltant partner pushing for reforms lion people. “This is a bad day for Juncker, who governed tiny but warned that a nation that Europe,” Cameron added. “This Luxembourg for almost two ships half of its exports to EU nawhole process has simply reindecades, played a crucial role in tions shouldn’t lightly flirt with forced my conviction that Europe shaping the shared euro currency leaving the bloc. “In the United needs to change.” Kingdom, some people obviousThe 59-year-old Juncker still and led the finance ministers ly need to wake up and smell the needs to be confirmed by the governing the 18-nation currency coffee. The European Union is a European Parliament before rezone through the financial crisis very good thing for the United placing Jose Manuel Barroso on that threatened the euro’s survival Kingdom,” he said. Nov. 1 as the head of the EU’s Juncker is expected to be appowerful executive arm, which is proved by parliament on July 16, as both euro currency and led the finance minin charge of drafting legislation, overhis center-right bloc and the main centisters governing the 18-nation currenseeing countries’ budgets and policing er-left Socialists and Democrats have cy zone through the financial crisis that the EU’s single market. said they will support him. In return, the threatened the euro’s survival. “I really believe he is a committed center-left leaders seek to get other top Cameron is haunted both by inEuropean and a political leader with exEU jobs, including the position of foreign creasingly Euroskeptic lawmakers of his ceptional experience,” Barroso said. policy chief, currently held by Catherine Conservative Party and the rising U.K. Cameron views Juncker as the embodAshton. ■ Source: AP Independence Party, which advocates iment of a pro-integration, consensus-

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INTERVIEW

Post-Flood Serbia:

UN TAKES ACTION Mrs. IRENA VOJÁČKOVÁ-SOLLORANO

UNITED NATIONS RESIDENT COORDINATOR IN SERBIA

The government faces many challenges which will require an immense rebuilding effort while simultaneously coordinating its own activities and the support offered through the United Nations (UN) and other international partners. To further this effort, the establishment of a coordination office was key in implementing a system to channel international assistance in a manner that is coordinated with government and municipal initiatives

f it had been unclear to anyone in Serbia before, the role of the UN in assisting countries in dire need was visible and gratefully accepted during the floods which incapacitated large areas of the country in June 2014. According to United Nations Resident Coordinator in Serbia, Irena Vojáčková-Sollorano, no fewer than 26 UN agencies and financial institutions were mobilized and worked together to provide an immediate disaster assistance response. Speaking in an exclusive interview with CorD, Mrs. VojáčkováSollorano stresses the urgent need to rebuild homes and infrastructure and help people in the affected regions get back to their lives which have been devastated by the flooding. A particular attention will be paid to the most vulnerable groups in the flooded areas; these people already had little and lost the little they had. According to the first assessments of the situation on the ground, it will take years for a full recovery from this unprecedented natural disaster. Present in Serbia for a long time, the UN family will naturally stand by the Government and people of Serbia to assist them in relief efforts and longerterm recovery and prevention activities and measures. ■ During the recent flooding that engulfed Serbia, you had the opportunity to find yourself in the field, on the ground in the affected areas. Viewed as humanitarian disaster, what was the extent of the damage and how long we will have to fight with the consequences?

- The damage done was significant, and what people from the affected areas have gone through is immeasurable. They face great challenges in 22 |

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rebuilding their livelihoods, something which may prove difficult in areas where land may be deemed unsuitable for rebuilding. The physical damage to the affected areas was huge, and we are still in the process of determining its extent. We do know that there was significant infrastructure damage, including roads, power, sewage and dams, and we are now doing an assessment with the government of Serbia, the World Bank and the European Union to understand the real damages. While we are offering immediate assistance to individual households, we can be certain that the time needed for complete rebuilding and “rebuilding better” will take years. ■ At the request of the Serbian Government, the United Nations engaged

a team of international experts for the first time in the history: UNDAC. What kind of team is this and what is their area of expertise?

- The United Nations’ first assessment after a disaster is always done by a UNDAC team (United Nations Disaster Assessment and Coordination). In Serbia, the team was deployed within 36 hours of receiving the request by the government and consisted of experts in landslides, agriculture, chemical waste, infrastructure, mapping, waste management, displacement and health. The UNDAC team focused on assessing what immediate assistance and action was necessary for saving lives, securing housing and agricultural land and preventing contamination and further damage. On the basis of this assessment, a report was published and delivered to the Serbian Government. This report provided a basis for action by UN agencies and is also being used as one of the bases for the more in-depth report within the Post Disaster Needs Assessment (PDNA) framework and the Reconstruc-

tion Needs Assessment (RNA). This government-led assessment is being conducted now and is supported by international experts from the United Nations, the World Bank and the European Union and will result in a thorough assessment of the long-term needs of affected municipalities and will be used as a basis for the regional donor conference in July in Paris. ■ Now that the water has receded, what tasks await the Serbian govern-

ment when it comes to restoration of the flooded areas and what will be the role of the UN?

long term support by increasing social benefits and other assistance to people who were entitled before the floods, in order to give them the time and resources necessary to recover. As far as the price of food is concerned, there may be an increase in prices as the affected areas had been food producing regions. This will reduce the available amount of food on the market and may result in increased prices. ■ The UN system includes specialised agencies such as UNICEF, UNDP,

UNOPS, UNESCO, UNHCR, ILO, the World Food Programme (WFP) etc.

How does this chain function in situations like the one we currently have - The government is facing a serious task which will require an immense in Serbia? rebuilding effort while coordinating its own activities and the support offered through the UN and other international partners. To further this ef- The UN Country team in Serbia is comprised of 13 agencies with in-country presence (UNDP, UNICEF, UNHCR, UNFPA, ICTY, UNDSS, IOM, WHO, UNODC, fort, the establishment of a coordination office was the key to implementOHCHR, UNOPS, ILO and UN WOMEN), three International Financial Instiing a system to channel international assistance in a manner that is coordinated with government and municipal activities. tutions (WB, IFC and IMF), and 10 non-resident agencies (FAO, UNWTO, UN The role of the UN is to support the coordination office, to channel UN HABITAT, UNECE, UNESCO, UNIDO, UNEP, UNCTAD, WFP and OCHA). and global/bilateral funds as well as to implement projects. Until today, Each of these agencies has a specific legal mandate and within the the UNCT has already accessed funds for UNCT. They all work together and coordimany recovery projects through the Central nate activities to provide expertise in all Emergency Response Fund (CERF). CERF is areas of life, supporting the Serbian governa humanitarian fund established to provide ment and people in need of our assistance. assistance to those affected by disasters. Using CERF funding, for example, the United ■ One of your most recent activities, unreNations Development Programme (UNDP) lated to the flooding, was the conference will work on waste management and unon Corporate Social Responsibility. What is the importance of CSR? clogging and cleaning water and sewage systems. The United Nations Children’s - The responsibility of the private sector is Fund (UNICEF) will work to protect and a large one. In fact, it was the private sector support the families and children affected that reacted in the first hours of the disaster by floods, the International Organization and provided immediate help. This demonfor Migration (IOM) will develop projects strates that they are a strong partner to govThe physical damage to the that will provide assistance to displaced ernment as well as to all the development affected areas was huge, and vulnerable people and people from Roma partners in Serbia. We are working closely we are still in the process of communities, the World Health Organizawith individual companies and the Chamber determining its extent. We do of Commerce, especially on the municipal tion (WHO) will work to restore service level, to support recovery and reconstrucdelivery of primary and secondary health know that there was significant care facilities, the United Nations World tion. We are building on their positive reacinfrastructure damage, including Food Programme (WFP) has already protion and are looking forward to fostering a roads, power, sewage and stronger relationship for years to come. vided logistics support to the government, dams, and we are now doing an equipment and food assistance, and the assessment with the government United Nations Population Fund (UNFPA) ■ How would you assess the level of develof Serbia, the World Bank and the will work to protect reproductive health opment of CSR in Serbia? European Union to understand the - By their immediate reaction, Serbian of women and couples by providing recompanies showed true sympathy for the productive health kits and medical kits to real damages victims of the floods. The UN has numerhealth facilities throughout Serbia. ous programs through which we cooperate with the private sector and in the disaster recovery phase we look forward to making this relationship ■ According to the experience of the UN, what are the usual consequences stronger, using the UN Global Compact Group to communicate with the priof this kind of natural disaster on the economy, food production, food prices and the poverty rate? vate sector and engage them in our activities. - It is difficult to compare this disaster with others as this was the biggest in the history of Serbia and the region. In our experience, the damage to ■ The UN in Serbia primarily supports the development of the country. the infrastructure such as roads, power and housing will cost the most to What projects do you have underway that are furthering this development? rebuild, while the suffering of the affected population and most vulnerable - All UN Agencies within the country team in Serbia work towards common groups cannot be measured in monetary terms. Our intention is to progoals - such as increasing security, raising awareness of human rights or combating violence against women and domestic violence. These are all vide support to rebuild better, to support the most vulnerable in rebuilding goals to which the Serbian government has subscribed by signing UN contheir lives and to reduce future threats. This disaster will definitely affect the poverty rate in the affected muventions and treaties on these issues. Although, the UN does work on develnicipalities. Vulnerable people who were and are living in these areas have oping infrastructure and local development, it focuses equally on the social lost what little they had. We are working with the government to provide aspects of it: promoting human rights and equal opportunities for all. ■ cordeditorial@cma.rs |

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■ By Jovana GLIGORIJEVIĆ ■ Photo: Zoran PETROVIĆ

INTERVIEW

We are living a

SURREAL FARCE LAZAR DŽAMIĆ MARKETING EXPERT

Like all boys of my generation, I adored Alan Ford, he was indeed the follower of my growing up in Yugoslavia. But the idea for the book was only born once I’d left Serbia. Here Alan Ford is something normal, a part of popular culture; everyone’s heard of him even if they’ve haven’t read him. However, when I left Serbia I realised that absolutely nobody beyond Serbia had heard of Alan Ford. What was most fascinating to me was that even the Italians I met had not heard of Alan Ford

ifteen years ago, armed with theoretical knowledge of digital marketing, mostly from reading online what was being done at that time in America, which was far ahead of Europe, Lazar Džamić moved from Belgrade to London. There he quickly got the opportunity to apply his knowledge in practice, as one of the first digital strategists in the UK. After years of working in agencies and adding many important clients to his portfolio, at the beginning of the year got a call he could not refuse - to move to “Google”. In mid-May he started working as head of brand planning at the European headquarters of this American company, in a new, modern building in Covent Garden. Such success is itself sufficient reason for an interview with La24 |

117 July 2014 | www.cordmagazine.com

zar Džamić. However, this versatile man is also newsworthy these days because at the beginning of July he presented to the broader public the English translation of his book “Flower shop in House of Flowers” (Cvjećarnica u Kući cvijeća). This book deals with the phenomenon of the Italian comic strip Alan Ford, which, in addition to its home country of Italy, achieved success in the 1970s only in the former Yugoslavia. However, in contrast to Italy, where this comic character is now completely forgotten, Alan Ford still has cult status in the former Yugoslavia. With that as his starting position, Džamić made an analysis of this phenomenon, searching for the reasons for the popularity of this comic strip in our country. The whole of Džamić’s book is actually a hunt for an answer to the question of what it is in our Yugoslav and post-Yugoslav reality that makes this surreal black humour comic such a legendary part of popular culture. Thanks to the efforts of the Belgrade office of GIZ, the book was translated into English and presented at the beginning of July to members of the diplomatic corps and other foreigners living and working in Serbia. The intention is for this book to be an initial guide for foreigners through the local mentality and Balkan surrealism.

■ Since May this yearyou’ve been working at the European headquarters of Google. What exactly does your job there entail and what is currently the focus of Google’s attention?

- They need someone who speaks the language of marketing. Google has more than 100 products, or rather platforms, in their system, and each of them can be used for different things. It wants to enable both agencies and clients to better do what you want through its eco-system, not just through the search engine. Youtube is essentially a platform for branding, except that the client is not yet thinking in that way and they need someone who will help them. Given the fact that I have only just started working at Google, I could not say more than that.

■ Let’s get back to Alan Ford and your book. We have a unique situation: a comic strip from one culture – Italian, broke into another – Yugoslav, where it has remained forever. How and why did that happen? What is it about Alan Ford that is so receptive to the mentality from these parts?

- Like all boys of my generation, I adored Alan Ford, he was indeed the follower of my growing up in Yugoslavia. But the idea for the book was only born once I’d left Serbia. Here Alan Ford is something normal, a part of popular culture; everyone’s heard of him even if they’ve haven’t read him. However, when I left Serbia I realised that absolutely nobody beyond Serbia had heard of Alan Ford. What was most fascinating to me was that even the Italians I met had not heard of Alan Ford. Even there this comic is not present as a phenomenon. People my age remember him, but not as being especially important, while the younger ones have absolutely no idea that something like that was ever published in Italy. That was the catalyst for me to start thinking: how, why, what’s that in Alan Ford which made him an integral part of our cultural fabric. ■ Where did you get with that thinking?

American literature has spawned magical realism. We in the Balkans can be proud of our surreal farce, because we live it as our reality. What we experience and do here every day, is either surreal or farcical. And while that is completely normal and usual to us, it’s totally weird for people who come here from the West. That surreal farce from Alan Ford is our reality. Secondly, it is often believed that Alan Ford was a critique of Italian capitalist society during the time of the Cold War. However, Alan Ford is a critique of every rotten society and, even though it might not look like that to us today, the Yugoslav society of that time was just like that. That was clear to anyone who was even slightly capable of thinking analytically, although outwardly everything appeared fine.

What we experience and do here every day, is either surreal or farcical. And while that is completely normal and usual to us, it’s totally weird for people who come here from the West

- Unfortunately, there are not many Alan Ford sources on the internet. Very few interviews were done with Magnus (draftsman) and Bunker (comic strip writer). Even my friend, via whom I finally got in contact with bunker, search Google in Italian for something more about this comic book and found nothing. I said to myself: OK, here’s something very strange. And thus the book began to emerge. The story of Alan Ford actually isn’t a story about the comic book itself; it’s the story of our society back then, about that country that once existed. This strip resonated strongly here not because of it, but because of us.

■ What is it about us as that made a band of clumsy, semi-compe-

■ How did you come upon the idea to write a book about the phenomenon of Alan Ford in Yugoslavia?

- The book found me, and not the other way around. I was simply led into that by passion. When a man is passionate about a particular topic, he enters into a kind of state of a-temporality and a-location: no matter how much time has passed and where he is, that passion is still there. And Alan Ford was (and still is) my passion. The Group TNT is as much a part of my life growing up as our language, our food and our coffee. On the other hand, the idea that the strip is inevitably bound up with who we are and what we were in that very seductive time grew over time until it was turned into an unbearable itch that simply had to be scratched.

tent spies an integral part of popular culture?

■ How do you explain the fact that, with the exceptions of Italy and Yugoslavia, Alan Ford had no success anywhere else?

- First of all, Alan Ford is a mix of surreal farce and satire. South

- Alan Ford is one of the very few examples of how one foreign cordeditorial@cma.rs |

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cultural artefact is ‘received’ by a new environment and, moreover, becomes an inseparable part of the cultural heritage of the recipient; the cultural equivalent of fruit grafting. The truth is that Alan Ford became more popular and important in the former Yugoslavia than in his native Italy, while in all other countries where translations were attempted it failed after only a few issues. It was never, for example, translated into English. In my opinion, there are several reasons, which I address in detail in the book. The first and biggest is that our natural form of mental and social functioning is a surreal farce. It is neither capitalism nor socialism, but surrealism. That’s why this comic resonated so strongly. In addition, Alan Ford is a modernised version of ‘commedia dell’arte’, an old and archetypal art form that largely shaped the modern mass media culture. Finally, there are a number of other reasons, from social satire as a powerful art form of the former communist countries, through the ways in which the Croatian language is perceived in the rest of the former Yugoslavia, to the prevailing cult of amateurism in our societies. Of course, details and examples can be found in the book... ■ How crucial was the translation of Nenad Brixyja to the popularity of Alan Ford?

to Serbs the language of farce, and thus it corresponded fantastically with the farcical surreal satire of this comic strip. All this is also covered in detail in the book itself...

■ How much are the characters of Alan Ford valid in today’s society?

- Honestly, they are all still valid, but I think Number 1 and Grunf resonate a little more than others, because they represent the major aspects of our daily lives. Number 1 as a symbol of the prevailing model of our politics, Grunf as a symbol of getting by and patching up, which is a necessity in a society that still refuses to face up to its own current and historical reality. The concept of so-called ‘Jugaad Innovation’ gains strength every day in the world. ‘Jugaad’ is a Hindi word and can generally be translated as ‘patching’ or ‘rusting’. This means that new methods and principles based on cheap technologies and unconventional methods of work are now being developed in developing countries such as India or China, and then sold to the poorer inhabitants of rich countries. Ideas such as mobile applications that diagnose diseases based on comparison of the colour of urine, or surgical operations for ten times less money than in the West. Banks are no longer in buildings, but rather mobile phones. In fact, this kind of ‘poor innovation’ is a very effective way to break the old monopolies and improve the lives of everyone on the planet. Thanks to the computer, Grunf is beginning to win...

- Language is more important than a passport in our country. And the war in our country started with grammar. One of the most common responses I received to my question of why the strip became something for us that it ■ The book has been translated into didn’t for anyone else was the ‘CroaEnglish. How does a reader from the Although nobody I know had English-speaking world conjure up all tian translation’. To my next question, even seen an issue of Alan Ford nuances of language, given that a huge ‘what is it in the Croatian translation in the original Italian, let alone part of the popularity of the comic that made it so funny and appropribe able to understood and book lies in the language? ate?’, I received mostly blank stares. Although nobody I know had even compare it to the translation, it - The people from GIZ, which is a Gerseen an issue of Alan Ford in the origiis a fact that Brixyj’s translation man organisation that also includes people from this region, are aware of nal Italian, let alone be able to underwas a key element of its the importance of Alan Ford to the local stood and compare it to the translasuccess culture, and are aware of our relationtion, it is a fact that Brixyj’s translation was a key element of its success. ship to the characters from the comic in It was more than a translation: that degree of intervention in the terms of mentality. That’s why they came up with the idea of transWest is called ‘trans-creation’, almost re-writing the piece in the lating the comic strip into English. That certainly killed the charm national language. In the book I write in detail about this lanof the Brixyj translation, but the idea of translation is primarily for Western folk who come here to work to be able to familiarise themguage, which was not every day Zagreb-Croatian language, because in general there is no “kajkavice”, for example, but since selves with this surreal and farcical part of our reality, in order to we do not have room for a detailed explanation, here are a few better understand and find their way here more easily. The English key themes: Brixyj’s Croatian was also ridiculous to the Croats translation of the book is actually the first step for getting around themselves, because it was not daily language but rather ceremoin this area, some sort of guide to understanding Serbia and the other countries of the former Yugoslavia. ■ nial, elevated, Upper-Urban Croatian; Croatian pronunciation is 26 |

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JULY 2014 BUSINESS LEADER’S MEETING POINT

PAGE 29

MICHALIS ORFANOUDAKIS FIC Board member, West Balkans Commercial Director of PepsiCo

Streamline and Simplify Procedures PAGE 29

PAGE 32

JOVANKA JOVANOVIĆ, Director of Robert Bosch d.o.o.

Technology for an Easier Life PAGE 33

DIMITRIJE KNJEGINJIĆ FIC Board member, CEO of Lafarge Serbia

ŽARKO GALETIN, Director of the Novi Sad Commodity Exchange (Produktna berza Novi Sad)

Level Playing Field

Food in the Shadow of Crisis cordeditorial@cma.rs |

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FIC’S 4TH “REALITY CHECK” CONFERENCE

FIC Keeping it Real

The Foreign Investors Council has held its fourth “Reality Check” Conference, during which FIC representatives and senior members of the new Serbian government discussed the creation of a sustainable business framework conducive to growth

erbian Prime Minister Aleksandar Vučić and his cabinet ministers joined senior representatives of the Foreign Investors Council - mainly CEOs of member companies on 26th June at Belgrade’s Hyatt Regency Hotel in order to discuss the country’s continuing reforms and ways to create a sustainable business environment. In his introductory speech, FIC President Frederic Coin said that, in the wake of the recent tragic floods, the Serbian government needs “more than ever” to “conduct and execute

deep reforms, because the current environment is not sustainable for anyone.” According to Coin, there are five priority areas: a fully EUharmonised and coherent legal framework; a consistent tax system; creation of a more flexible labour market; streamlined real-estate regulations; and the establishing of an efficient market oversight system. “We all need to work together to build a better environment. FIC offers its knowledge and experience on how to navigate through economic transition and the current crisis and we are willing to put it to use for the greater benefit of the Serbian market”, concluded the FIC President, who is also Chairman of the Executive Board of Societe Generale Bank in Serbia. The conference culminated with members of the FIC Board providing their closing statements regarding the FIC’s key expectations relating to the work of the Serbian government. ■

Slow Implementation an Issue

“T

ANSGAR BORNEMANN FIC BOARD MEMBER, Regional Director of Nestlé Adriatic S d.o.o

28 |

he Predictability of the business environment is important for every investor. Only with consistent and predictable business conditions can realistic business plans be made. In order to increase predictability, the focus should be placed on implementation of the laws which are adopted and monitoring their application. We believe that there is a room for improvement precisely regarding the implementation of laws, since our analysis has showed that slow implementation remains the key problem of the

117 July 2014 | www.cordmagazine.com

business environment in Serbia. Newly adopted laws are not coupled with the adequate bylaws and guidelines needed to support the implementation process and ensure their consistent enforcement. Moreover, Serbia faces the problem of a lack of administrative capacities. There are many cases that EU harmonised regulations have been adopted, but the authorities are not capable of building the institutional capacity required to fully and consistently implement them. This should be changed and we all have to work together to make this happen.”

Streamline and Simplify Procedures

“D MICHALIS ORFANOUDAKIS FIC BOARD MEMBER, West Balkans Commercial Director of PepsiCo

oing business in Serbia carries a big administrative burden, as there is too much bureaucracy, too many unclear rules and unneeded paperwork. If Serbia wants to rise on the global competitiveness scale, it needs to concentrate on cutting red tape. That means streamlining and simplifying existing procedures, but also making sure that new laws and regulations are business-friendly and that they introduce minimal administrative burdens. The Foreign Investors Council has advocated for the cancelling

of unnecessary bureaucracy for a long time. Our members engaged in the so-called “Regulatory Guillotine” and the results are that the government adopted 60% of FIC proposals, but implemented only 1/3 from the Guillotine project launched in 2009. We believe that cutting red tape should be one of the government’s priorities for the period ahead. We are glad to hear that the government has announced plans to improve efficiency of the public sector, as this is a necessary precondition for successfully finalising this job.”

Equal Conditions for All

Level Playing Field

he government should conduct systemic reforms of the pension, health and education systems. Apart from that, it is well known that companies have articulated predictability as a number one feature of a motivational business environment, including the predictability of legal regulations, the JOHN KYRITSIS FIC BOARD MEMBER, macroeconomic framework, fiscal COO of Delhaize Serbia and policies, as well as political and Bosnia-Herzegovina social stability. Now, when most regulations and laws are improved, their consistent implementation needs to be ensured, combined with an open dialogue between the state and the business sector when amending regulations, in order to formulate high-quality, applicable laws. For example, in the food & agriculture sector, amendments to the Law on Food Safety and, primarily, proper implementation of the existing regulations and coordination of the work of inspectors are vital, with the aim of protecting consumers and the market, reducing the grey economy and fighting against corruption. With these improvements, we could say that we are on the right track to gaining a predictable, transparent and open market, providing fair and equal conditions for all.”

he main FIC expectations from the Government are to create a level playing field and an efficient public sector, improve regulations and, in particular, ensure their enforcement. A level playing field is a significant characteristic of all modern societies. When it is secured, it DIMITRIJE KNJEGINJIĆ brings predictability and confiFIC BOARD MEMBER, dence to investors and they can CEO of Lafarge Serbia make long-term business plans. Finalisation of the privatisation process and the introduction of corporate governance to public enterprises is necessary for creating a level playing field. The government needs to create a level playing field and ensure that the same rules apply to all companies, regardless of the ownership structure. It needs to define a clear strategy vis-à-vis the privatisation of large state-owned enterprises, in order to ensure the infrastructural basis for economic growth. Furthermore, the government needs to define the strategy for communal enterprises, in order to tackle municipal issues (i.e. sewage systems) and upgrade services offered to citizens. One of the possible models is Public-Private Partnerships.”

“T

Functional Framework Required

“W

e at the Foreign Investors Council believe that now more than ever, after the major tragedy that hit the country, the government needs to conduct and execute deep reforms, because the current situation is not sustainable. The flood disaster should be a trigger to accelerate reforms, not stall them. Serbia needs to create a functional framework to support economic growth and facilitate the needs of the society. Sustainable economic growth is a key precondition for meeting the needs of the society and in-

creasing the standard of living. FIC members are part of the community and they engage their expertise and resources, through CSR activities, to address specific problems of the Serbian society and support its vulnerable groups. In response to the recent floods, FIC member companies have so far donated around €6.7 million in cash and goods, engaged over 1000 volunteers and made available a wide range of equipment and services. And donations are continuing. And we all need to work together to make the change.”

GABOR BEKEFI FIC BOARD MEMBER, CEO of Carlsberg Serbia Group

cordeditorial@cma.rs |

117 July 2014 | 29

LOCAL NEWS

Police I

Business Dialogue 01

“There was no political will for such a thing in previous years. I was the interior minister, but those who ran other bodies during the government led by Mirko Cvetković insisted on keeping the police leadership as it was.” — Ivica Dačić, Serbian Deputy Prime Minister and Foreign Minister

HENKEL

Henkel Buys France's Spotless for €940mln

MK GROUP

IFC Approves €25 million Loan

Household consumer products manufacturer Henkel AG announced it KASPER RORSTED, Henkel CEO would pay €940 million in cash for French company Spotless Group SAS in a move aimed at strengthening its position in Western Europe. “This acquisition is part of Henkel’s global strategy to selectively invest in attractive country category positions in mature markets,” said Henkel CEO Kasper Rorsted. Spotless Group, which mainly operates in the areas of laundry aids, insect control and household care, with brands such as Eau Ecarlate, Dylon, Grey and Catch, fits with Henkel’s portfolio and offers potential for future profitable growth. The acquisition is subject to approval from antitrust authorities and is expected to be completed in the first quarter 2015 at the latest. Henkel, which also owns Schwarzkopf hair care and Pritt glue brands, expects the deal to immediately boost earnings. Spotless Group is being sold by private equity firm BC Partners.

Serbian agricultural company MK Group has signed a €25 million loan agreement with the International Finance Corporation (IFC), to be used for agribusiness development. The agreement was signed by MK Group President Miodrag Kostić and IFC’s Associate Director Carsten Mueller. The funds will be directed to new investments in agriculture, meat processing and the sugar industry, Kostić told a press conference in Belgrade. As he specified, this will include the procurement of “New Holland” farm machinery and investments in new silos to increase

TELEKOM

“Best Business Partner 2014” & “Business Partner Plus 2014” Awards

At the Regional Awards Business Partner 2014 Award Ceremony, held at the Metropol Palace hotel in Belgrade under the organisation of Mass Media International, Telekom Srbija was awarded in two prestigious categories. Apart from earning the award for the highest level of social responsibility and care for the local community, “Business Partner Plus 2014”, Telekom Srbija also received the top recognition, “Best Business Partner 2014”, thanks to the votes of this year’s other laureates. This award is specific and represents a great honour to those who win it because the companies themselves choose and assess their business partners considered as fulfilling certain criteria. In his speech at the award ceremony, Predrag Ćulibrk, CEO of Telekom Srbija, stressed that partnership is an integral part of the company’s mission and vision. “It is thanks to our partnership with over 10 million users of our services that we achieve such results when it comes to profit. I also wish to emphasise that we are honored to receive an award for social responsibility and care for the local community, because we believe social responsibility is something we all have to encourage, which became evident during the heavy floods that hit us,” said Ćulibrk. 30 |

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MIODRAG KOSTIĆ, (left) and CARSTEN MUELLER

the MK Group’s storage capacities. IFC’s strategy in the region is based on agribusiness, said Associate Director Mueller, noting that around $700 million had been invested to date. The corporation plans to continue its cooperation with interested companies across the region, he added. MK Group is one of the leading holding companies in Serbia, comprising 35 firms and employing around 5,000 people in Serbia and Ukraine.

UNICREDIT LEASING

Highest Transaction on Serbian Leasing Market UniCredit Leasing Serbia and Serbian cable operator SBB have signed a €5 million financial leasing contract, marking the most valuable transaction on the leasing market this year, announced UniCredit Leasing in a press release. Through this funding, SBB has acquired state-of-the-art Cisco equipment that will be installed in customers’ homes. With the help of a set-top-box and Home Gateway device, SBB users will be able to watch digital TV and connect quickly and easily via the internet. This transaction was completed in the second quarter, as a result of years-long successful cooperation between UniCredit Leasing and companies SBB and Cisco, which are leaders in their respective industries.

FINANCE

Budget Deficit Reaches RSD 114.6 bln Serbia’s budget deficit reached RSD 114.6 billion in the first five months of 2014, Lazar Krstić, Ministry of Finance stated in a release. The deficit totals RSD 116.6 billion at the state level, as it includes expenditure for project loans, which, although not a budget item, is an item of state spending. The budget deficit in May stood at RSD 22.8 billion. The revenues amounted to RSD 59.9 billion while the expenditures reached RSD 82.7 billion (not including revenues and expenditures of indirect budget beneficiaries), the ministry released, noting that April revenues were significantly higher as

this is the month when VAT duties for the first quarter are collected. The floods that hit parts of the country in mid of May did not have a negative effect on tax revenues so far, Finance Ministry says. “Possible negative effects of the natural disaster on public revenues will be seen more clearly in the coming months,” the release states. Source: InSerbia

Police II

“The police are monitoring everything and have all the facts, but I cannot give you any actual information so as not to make any mistakes in the investigation, but we have all the facts.” — Nebojša Stefanović, Serbian Interior Minister

Placements & Postings

COCA-COLA HBC

Integrated Report 2013

APPOINTMENTS@AIM.RS

Coca-Cola HBC AG has published its 2013 Integrated Report. Under the heading ‘The best is yet to come’, the report discusses the company’s strategy and performance across a range of financial, economic, social and environmental indicators. One of the world’s largest bottlers of The CocaCola Company’s beverage products, Coca-Cola HBC has maintained integrated sustainability throughout its business over the past decade. Today the company is a Supersector leader in the FTSE4Good index and has been listed on the Dow Jones Sustainability Index (World and Europe) for six consecutive years. Among beverage companies, Coca-Cola HBC was ranked first in Europe and second in the world for sustainability. “Integrated reporting reflects how our company thinks and does business,” said CEO Dimitris Lois. “We were delighted that our first integrated report was noted by a Harvard Business School study as a ‘best case example’ of this new approach to reporting. As a sustainability leader, we must continue to raise the bar”.

H.E. SERGIO LUIZ CANAES Ambassador of Brazil to Serbia

ALPHA BANK

Citibank’s Greek Retail Operations Acquired DEMETRIOS P. MANTZOUNIS Alpha Bank Greece CEO

Alpha Bank entered into agreement with Citibank International plc. and Citibank Overseas Investment Corporation for the acquisition of Citi’s Greek retail banking business, including Diners Club of Greece. Under the agreement, the acquired operations comprise Citibank’s wealth management unit, with customers’ assets of c. €2.1 billion under management, of which deposits comprise €1.0 billion, and mainly credit card balances, of €0.4 billion. The agreement also includes a retail branch network of 20 units, serving 480,000 clients. As a result of the acquisition, approximately 730 highly skilled Citibank employees will transfer di-

rectly to positions in Alpha Bank. This transaction follows Alpha Bank’s successful acquisition of Emporiki Bank in 2013 and represents another important milestone in confirming Alpha Bank as the “Bank of choice” for citizens and clients in Greece. Through the acquisition, and on the basis of Citi’s expertise in wealth management, Alpha Bank will further complement its product and service offer. The deal also sees Alpha Bank enter into a partnership with Diners Club, which will further enhance its position in the electronic card and payments business. Alpha Bank Greece CEO Demetrios P. Mantzounis said: “The acquisition of Citi’s retail banking operations in Greece represents another important step in the execution of Alpha Bank’s strategy”.

ERSTE BANKA

Supporting Clean Serbia Over the past few years Erste Bank in Serbia has provided funding of approximately €35 million for projects utilising renewable energy sources. Erste Bank funded about 17 mini hydropower plants, two biogas plants, 14 solar power plants and three plants for the production of pellets. Ten out of these 17 mini hydropower plants began producing energy during the previous period.

H.E. ARIF MAHMOOD Ambassador of Pakistan to Serbia

H.E. TAJOURI SHRADI Embassy of Libya to Serbia

His Excellency Sergio Luiz Canaes has been appointed as the new Ambassador of Brazil to Serbia. Mr Canaes earned a Degree in Economic Science at São Paulo University and a Degree in Architecture and Urban Planning, also at São Paulo University, in 1976. He began his diplomatic career by serving as third secretary at the Brazilian Embassy in Montevideo in 1985. In 1995 he became First Secretary at the Brazilian Embassy in Ottawa. During his career he has held the posts of General Coordinator of Protocol, Ministry of External Relations of Brazil (1998), counsellor, 1999, Commander of the Rio Branco Order, 2000, Counsellor at the Brazilian Embassy in Rome, 2000. He was also coordinator of the visit of Pope Benedict XVI to Brazil in 2007. Prior to arriving in Belgrade, he served as Ambassador of Brazil to the Kingdom of Saudi Arabia and the Republic of Yemen from 2008 to 2013. His Excellency Arif Mahmood, Ambassador Extraordinary and Plenipotentiary of the Islamic Republic of Pakistan to the Republic of Serbia, presented his credentials to Serbian President Tomislav Nikolić on 16th June 2014. Prior to his arrival in Belgrade, Mr Mahmood was stationed at the Headquarters of the Pakistani MFA in Islamabad, where he held the post of director general. He has also served as Pakistan’s Ambassador to Pyongyang and Consul General in Birmingham. Born in 1956, he holds Masters Degrees in Social Work and Foreign Affairs & Trade and a Bachelor’s Degree in Law. He Joined the Pakistani Foreign Service in 1986, initially serving at the Headquarters as Section Officer (1986-1989 & 1993-1994) and then Director (1995-1996 & 2002-2004). He has held various diplomatic posts in Pakistan Missions abroad: Riyadh (19891993), Dhaka (1996-1999), Damascus (2000-2002) and Birmingham (2004-2008). H.E. Tajouri Shrad, the newly appointed Ambassador of Libya to Serbia, is familiar with Serbia, having served as Charge d’Affaires a.i. in the country since July 2012. He graduated in the field of sociology at the Faculty of Literature, University of Benghazi, in 1976. Two years prior he was appointed to the Ministry of Foreign Affairs and in 1977 he received his diplomatic training in Tripoli. The many positions he has held throughout his career include Charge d’Affaires a.i. in the Embassy of Libya in Togo during 1986 and 1987, First Secretary in the Department of African affairs within the Council of the Ministry of Foreign Affairs, 1987-1993, Minister Counsellor at the Department of International Organisations, 1998-2003, Minister Counsellor at the Embassy of Libya in Austria in charge of the files of the International Atomic Energy Agency (IAEA) and the comprehensive Nuclear – Test – Ban Treaty Organization (CTBTO), 2003-2007, Coordinator of the Libyan Committee for the visit of the UN Counter-Terrorism Committee in 2009, and Commissioner of the Ministry of Foreign affairs within the National Body for Supervision of the Implementation of the Treaty on the Prohibition of Chemical Weapons during the period 2008-2011. cordeditorial@cma.rs |

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Business Dialogue INTERVIEW

JOVANKA JOVANOVIĆ, DIRECTOR OF ROBERT BOSCH D.O.O.

Technology for an Easier Life This year our global Product Marketing team numbers 80 staff, 70% of whom are mechanical engineers, while the Bosch Group will have over 400 employees by year’s end. Engineering the design of braking system components and quality management are new processes that are going to be implemented this year

for leading automotive manufacturers soon, as well as substantially increasing our export to EU countries. We are also continuing to expand our capacities, so that we can start producing windscreen wiper arms next year. This year our global Product Marketing team numbers 80 staff, 70% of whom are mechanical engineers, while the Bosch Group has over 320 employees at present and plans to have over 400 by the end of the year. Engineering the design of braking system components and quality management are new processes that are going to be implemented this year. Also, this year we will start implementing a project aimed at educating students to become industrial technicians in collaboration with GIZ (the German Organisation for Technical Cooperation) and the Secondary Technical School in Pećinci. ■ What new products are you going to launch this and next year? - Apart from the products resulting from us launching serial production, this year we are continuing with the distribution of a wide range of innovative products, like the PRL 15 pocket-size laser in the power tool segment. This is a cost-saving model which has a working range of 15 metres, with precision of 3mm per second. In the security system segment we have Bosch IP cameras installed at over 20 border crossings in Serbia and Montenegro.

■ Which of the reform measures devised by the Serbian government should be given priority with a view t was recently published that Bosch Group Serbia to advancing business efficiency? achieved very good results in 2013, despite the economic - Number one is a set of reform laws which the government is currently working on, like the Labour Law and the crisis. The most important indicators of Bosch Group’s Spatial Planning and Construction Law. The government results are total revenues of €30 million, equating to 13% also needs to revise the laws which were passed several YOY growth year, 100% growth in the number of employees, expansion of the range of services carried by Bosch decades ago and that do not support economic development in a modern economic environment and conditions, Serbia for the Bosch Automotive Aftermarket Division rather, on the contrary, they globally, and the launch of seThis year we will start implementing sometimes gravely hinder rial production of windscreen a project aimed at educating students project implementation and wiper blades. “Additionally, to become industrial technicians marketing many innovative business operations. In certain products in the power tool situations the public adminin collaboration with GIZ (the segment (over 100) in Serbia, German Organisation for Technical istration and local authorities are open and willing to help Montenegro and Macedonia, Cooperation) and the Secondary investors, but existing laws as well as the production of Technical School in Pećinci make that impossible. When safety systems, thermo-technology products, heating systems and domestic appliancthe government creates stable conditions for doing busies, all contributed significantly to our dynamic business ness, investors will spur the development of the Serbian growth,” says Jovanka Jovanović, director of Bosch Serbia. economy, as well as improving education, raising living standards and boosting people’s satisfaction by facilitating growth, both in the national and international sur■ You have announced a similar business trajectory roundings. Another thing that is also very important is to and development for the company this year also. What introduce and implement the business etiquette found in are your expectations based on? highly developed countries. ■ - We are planning to launch production of wiper systems

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CORPORATE ŽARKO GALETIN, DIRECTOR OF THE NOVI SAD COMMODITY EXCHANGE (PRODUKTNA BERZA NOVI SAD)

Food in the Shadow of Crisis In the kind of situation we have with the floods, there is a very pronounced fear that Serbia will face the problem of insufficient food production. That fear is generated by market events that had no direct relationship with market developments in the region and the world. The best example of this is what has happened on the wheat market

hen it comes to the factors that influence food prices, they can be divided into local and global factors. We discussed how factors ranging from climatic conditions to political tensions impact on the global and local food markets with Žarko Galetin, Director of Commodity Exchange Novi Sad.

tors really shook prices – in the first instance on international markets and in the second case on the domestic market. Ukraine is the third largest exporter of corn and sixth largest exporter of wheat in the world. Fear of uncertainty in meeting its export obligations immediately led to the activation of a mechanism called “Margins risk”, which directly influenced the growth of prices of these commodities on the world market. In time, however, it became clear that the ports of the Black Sea basin were working as much as possible, so the impact of this crisis also reduced increasingly. However, the shadow of a latent crisis is still present and continues to negatively influence the market.

ket. Namely, while the price was continuously falling for a month on all prominent world exchanges, here the price of wheat reached its seasonal peak. Once accurate estimates were received regarding the amount of damage to crops, and when it was found that crop production will not sustain great damages, so the market stabilised and returned to normal flows.

■ What is the situation like in Serbia when it comes to commodity markets generally? Can we be satisfied with the legal provisions and their implementation? - With respect to commodity trading markets, we have the paradoxical situation where institutional orderliness of this matter goes before legislative or■ How much do crises like the one we der. Simply put: we have a commodhave in Ukraine influence global Once accurate estimates were ity exchange, but we do not have and local food markets? - When we analyse the food market, received regarding the amount a law on commodity exchanges. Of the first factor we have to consider of damage to crops and it was course, this does not mean that the “Commodity Exchange” is working are relations on the scales of the marfound that crop production will outside the law, but rather that it ket where on one side there is the tonot sustain great damages, so works in a very limited legal frametal offer and on the other is the aswork that does not allow the organsumed total demand. For that reathe market stabilised isation of futures markets, which is son the best timing for market asa paradigm when in countries of devel■ How will flood damage impact on the sessments is precisely the period when oped stock exchange traditions they say food market in Serbia? there is exact knowledge of the total yield “commodity exchange”. - In addition to serious damage to infraof certain crops, which happens immediThe draft law on commodity exchangstructure facilities and agricultural crops, ately after harvesting the crop. However, es has been written, public debate has the floods of disastrous proportions in that does not necessarily mean that on been completed and we expect its adopSerbia also activated one factor that is the basis of these findings we can make tion this year. It is important to note that purely psychological in nature, and that fully reliable and unreservedly accurate the problem of regulating the commodis the fear that Serbia will face the probestimates of market trends, which is best ity exchange market will not resolve the lem of insufficient production to close illustrated by the previous period when adoption of this law by itself, provided the balance sheet of its own domestic we had two “market stresses” – one on the entire undertaking is not understood needs. That fear was generated by mara larger scale, induced by political tremas a project behind which the state ket events that had no direct connection ors in Ukraine, and the other with purely should stand and help in the implemenwith general market developments in the internal reasons identified in the natural tation of the law, in order for it to start region and the world. The best example of disaster that befell our country. functioning at full capacity. ■ this is what happened on the wheat marBoth of these “non-market” faccordeditorial@cma.rs |

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REGIONAL NEWS

Integration

Business Dialogue 01

“We have to forget the past. History is something that even today we are paying for the consequences of, while the future is integration. We all as a people, as citizens, as the leadership of both countries, should be looking in that direction.” — Atifete Jahjaga, President of Kosovo

ROMANIA

Bucharest Seeks Contractor For Transylvania Highway

Bulgaria ranked 32nd in Good Country Index

Romania’s National Road Authority (CNADNR) is looking for a contractor to construct a 37.2 kilometre segment of the Ogra – Campia Turzii route, part of the Transylvania Highway. The project has a total estimated value of RON 2.33 billion (€531.5 million), including VAT. The design and execution of the project will be attributed through an open auction, based on the lowest price. At the maximum value announced, CNADNR will pay €14.27 million / kilometre. The project is divided in three lots: Ogra – Iernut (3.6 km), Iernut – Chetani (17.9 km) and Chetani – Cimpia Turzii (15.7 km). The value of the work is estimated at between RON 1.56 billion and RON 1.88 billion (which includes possible additional works), without VAT. The auction winner will have 64 months at their disposal to finish the project. Requests to enter the auction can be submitted until 11th August. Source: Business Review Romania

The bankruptcy trustee of Aluminium Combine, VESELIN PERIŠIĆ and the owner of Uniprom, VESELIN PEJOVIĆ

Bulgaria has been ranked 32 nd in the Good Country Index compiled by the international independent policy consultant Simon Anholt. The index measures the contribution of 125 countries to the world in seven categories of achievement relative to the size of their economy. The idea of the Good Country Index is pretty simple: to measure what each country on earth contributes to the common good of humanity, and what it takes away. Using a wide range of data from the U.N. and other inter-

MONTENEGRO

Aluminium Plant (KAP) Finally Sold

After two tenders, the Podgorica Aluminium Plant (KAP) was finally sold for €28 million to Montenegrin company Uniprom, owned by Veselin Pejović. In the factory, which once employed thousands of workers, now only 720 employees work. The fate of the company will depend on whether the new owner will find a way to provide cheap electricity for the production of raw aluminium or else raw materials will be imported, after which a small number of workers will only produce final products. Pejović plans to bring a strategic investor to the factory. It has already been announced that it could be the Turkish company “Sahinler”, the largest aluminium producer in Turkey. The new owner earlier sought that the Electric Power Industry of Montenegro grant him an electricity price of €38 per megawatt-hour. If that happens, he plans to keep the production of raw aluminium. This is not realistic, however, since Italian company A2A, which is comprised of co-owned energy enterprises, requested €45 per megawatt-hour. If he does not get his asking price, Pejović plans to find a better price on the international market. Pejović announced that in that case he will suspend the production of raw aluminium. In this scenario, raw aluminium would be imported and the factory will only employ 150 workers to produce the final products. 34 |

BULGARIA

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national organisations, we’ve given each country a balance-sheet to show at a glance whether it’s a net creditor to mankind, a burden on the planet, or something in between. The chart is topped by Ireland, followed by Finland, Switzerland, the Netherlands, New Zealand, Sweden, the United Kingdom et al. The 125th bottom position is occupied by Libya, which is below Vietnam, Iraq, Azerbaijan, Angola et al. Source: FOCUS News Agency

KOSOVO

Kosovo Reduces Import of Power Supply In the first quarter of 2014 Kosovo produced around 2,143 tons of coal. In this period the gross quantity of electricity produced by thermal power stations was 1,795.7 GW/h, while the other 19,6 GW/h was produced by hydro power plants. These figures have been included in the “Energy Report” published by the Agency of Statistics of Kosovo (ASK) for this quarter. This report shows data concerning the production and consumption of coal, production and consumption of electricity and import and export of electricity. Referring to the same period, Kosovo imported 167,2 GW/h of electricity, while the report says that, compared to the same quarter of last year, imported electricity fell by 27,2%. “In the first quarter of 2014 Kosovo exported 243,1 GW/h of electricity and, compared to the first quarter of last year, exports are up by 142.1%”, says the report. Source: IBNA

HUNGARY

MOL Fined for Abuse of Dominant Position The GVH Competition Office has concluded a procedure against Hungarian oil and gas company MOL over abuse of its dominant position by accepting the company’s commitments on the pricing of wholesale diesel. GVH also fined MOL HUF 150 million (€490,000). The procedure began in 2010. Under the commitments, MOL’s wholesale diesel list

prices will follow the changes of Platts price quotes more closely and/or within a range of plus/minus 1% on an annual average in the next five years. MOL said it welcomed GVH’s decision, noting that the office found no evidence that the company infringed the law on five of six issues it examined.

Cooperation

“Our cooperation is very good, our people are very connected and have faith in one another, but still the relations between Sarajevo and Ljubljana are not at the highest potential level. They can be much better” — Borut Pahor, President of Slovenia

H.E. Branislav Mićunović, a theatre director and professor of acting at the Drama School in Belgrade and Cetinje, has been appointed as the new Ambassador of Montenegro to Serbia. Mićunović is president of the National Commission for UNESCO and the National Council for Culture and he served as director and artistic director at the National Theatre. Mićunović has received the most important professional and social recognitions. He is a recipient of the Golden Apple International Award in the Republic of Macedonia (2008) and in February 2010 Croatian President Stjepan Mesić decorated him with the Order of Danica Hrvatska, with the image of Marko Marulić, in recognition of his special achievements in culture.

F.I.R.O. MACEDONIA

€100 Million to Support Businesses Macedonian Bank for Development Promotion will allocate €100 million to support the business sector in the country

H.E. BRANISLAV MIĆUNOVIĆ Ambassador of Montenegro to Serbia

This was declared by the director of this state owned bank, Besim Bilalli. “This month will see the start of the fourth phase of the support for medium-sized and small businesses with loans secured by the European Bank for Investments”, declared Bilalli. According to him, the process has started and the bank is receiving applications from companies. “We’re receiving applications and we will soon issue the list of companies that meet the conditions”, declared the director of the Macedonian Bank for Development Promotion. Some of the projects offered by companies relate to the opening of new jobs and the increase of production capacities, but there have also been applications for new technological projects.

ALBANIA

Albania to Pay CEZ AS €100mln to End Legal Battle

Czech power company CEZ AS reported that it had reached an agreement with Albania under which Albania would pay the largely stateowned utility €100 million, ending 18 months of legal battles. In 2009, CEZ took a majority stake in Albania’s Shperndarje, but disagreements over electricity price levels, payment terms and other legal and commercial issues quickly overshadowed the deal, prompting Albania to revoke CEZ’s license and renationalize the company in January 2013. Under the pact, which must be formally approved by the Albanian government and ratified by the country’s parliament, the payment will be made in annual installments, ending in 2018. The deal is positive for CEZ shares as it brings a messy situation to a close and removes the risk of a more protracted legal battle, said Milan Vanicek, analyst at J&T Bank in Prague.

BRANKA BATRIČEVIĆ New Managing Director of MRM Beograd

Branka Batričević, has been promoted from her former position of executive director to the position of Managing Director of the agency “MRM Beograd”. Prior to the establishment of the digital creative agency MRM, Batričević worked from 2007 at agency McCann Erickson, where she held various positions. She studied Italian language and literature at the University of Belgrade’s Faculty of Philology and, in addition to Italian, she speaks English and has a working knowledge of German. Batričević is a member of the IAA International Advertising Association.

CROATIA

Internet Traffic up 45% Croatians are spending more and more time on the internet. Total internet data traffic in the first quarter of 2014 amounted to 110 million GB, an increase of 45.6% compared to the same period last year, according to the Central Bureau of Statistics… It is not just the internet they are spending more time on either, with traffic on phone calls also up. In the first quarter of 2014 mobile subscribers generated 2.36 million outgoing minutes, an increase of 8.6% from the first quarter of 2013, whilst fixed line outgoing minutes had dropped 14.4%. With

free messaging services such as Viber and WhatsApp starting to take off, the number of text messages sent has dropped by 2.5% to 818 million, while MMS’s had decreased by 11.3% compared to the same period last year. The number of letters sent in the first quarter of 2014 reached 84,906, which when compared to the same period in 2013, was 1.4% more.

BOSNIA AND HERZEGOVINA

Tax Officials Arrested For Corruption The Bosnian prosecution ordered the arrests of over 30 officials of the taxation authority of Bosnia and Herzegovina, including former tax director Kemal Causević, as well as questioning 20 others. The spokesperson of the prosecutor’s office, Boris Grubešić, said the investigation lasted for over eight months and was the biggest organized crime-related investigation in the country’s history. The supects are under investigation for “organized crime, taxation fraud, illegal taxation, money laundering and abuse of power which resulted in the loss of millions for the state of BosniaHerzegovina,” Grubesić said. The state prosecution has ordered more than 300 officials of the state investigation and protection agency, SIPA, to search dozens of locations in Sarajevo, Banja Luka, Tuzla and 17 other towns. Kristina Jozić SIPA spokesperson, said some of the arrested persons illegally waived taxes on vehicles crossing the border from 2011 to 2013. Source: BIRN cordeditorial@cma.rs |

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Business Dialogue NORDIC COOPERATION AND INNOVATION

A Relevance to the Western Balkans?

bridge is crossed by around 20,000 commuters per day, travelling between the two cities, and not only does it facilitate daily migrations but it also symbolizes the strongest regional cooperation in the world. The guest from Sweden, Fredrik Härén spoke about innovation and why innovation is the common denominator of all Nordic countries, especially in the sphere of creative business. In this context four companies from the Nordic countries: Ericsson, Tikkurila Zorka, Telenor and Grundfos presented the innovative aspects of their work. With reference to the region in which they are operating, they presented ways of how to facilitate foreign investments by improving In the occasion of Nordic Day , on June 4 the Embassies of Denmark, Finland, Iceland, Norway and regional cooperation. What is the Nordic model of cooperation? Sweden in Belgrade organized a seminar “Stronger It is a political, economic and educational relationship between Norway, Sweden, Denmark, Finland and Iceland. together- Nordic Cooperation and Innovation: A Nordic cooperation is one of the oldest and most develrelevance to the Western Balkans?“ focusing on the oped forms of regional cooperation in the world. It started Nordic cooperation as a model that has developed by forming the first passport union in the world at the beginning of the 1950s, after which the use of passports was from centuries of shifting governance, alliances and no longer needed between the member countries. rivalries to now 200 years of intra-Nordic peace Conditions for business in the Nordic countries are very developed and considered to be among the best in the lisabeth Nauclér, first female member of parliament world. The Nordic countries consistently come out on top for the autonomous region of Åland in the Parliament in internationally recognized studies. It is a cooperation of Finland, was one of the guests who explained the which has brought very concrete results since it has facilitated people’s everyday life, movconcept of the Nordic cooperation, and she also spoke about ing, employment and education in the development of Nordic Coany of the countries in this region. Conditions for business in operation – Regional Dynamics This event was supported by and Cultures. Ms. Nauclér has 36 Nordic companies. Being socialthe Nordic countries are very personal experience from the developed and considered to be ly responsible, many of these companies have donated equipment, Western Balkans from her time as among the best in the world money and other forms of aid to a Civil Affairs Officer with the UN the victims of the floods in Serbia. peacekeeping operation in former In Serbia, there are currently over Yugoslavia from 1996-1999. 115 Nordic companies operating, while around 300 are Johan Tiedemann, Senior Adviser of the Öresund Committee, spoke about the importance of the Öresund bridge present through distributors and agents. Exports of the which connects Malmö to Copenhagen, and thus Sweden Nordic countries to Serbia in 2013 amounted to more than and Denmark, and also about developing a region that 300 million euros, while imports from Serbia into the Nordic countries amounted to 100 million euros. ■ is competitive on all levels of collaboration. Today, this

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BANKING

Europe: An Appeal for Growth The euro crisis is almost over, but what next? How to secure Europe’s success in a globalized world? These are the issues that preoccupy Deutsche Bank’s co-CEO, Anshu Jain Learning German makes sense Jain was, however, reluctant to admit language barriers. For instance, he said that whoever wishes to come to Germany should also learn the language. Furthermore, Jain said that if German had been taught in his college as a foreign language, he would have had it easier today. “I was brought up in India; I attended college and began my professional career in the US, and for the last 20 years, I have made Europe my home. The challenges facing Europe, and the crucial importance of meeting those challenges, are things I ermany’s largest financial institution, Deutsche Bank, feel personally.” is one of the founding members of the privately-funded The young people in the auditorium listened attentively as school in which students from 34 countries are pursuing most of them come from abroad and are studying in the heart of their studies. Anshu Jain, the bank’s co-CEO, certainly had the Europe, where they wish to build themselves a promising future. young students in mind when he decided to give a speech in Promoting entrepreneurship the management school, European School of Management and Turning to Germany, Anshu Jain praises the “start-up city” Technology (ESMT) auditorium on the future of Europe, and to Berlin. There are many start-ups here, particularly due to relatively low rents that offer the city a clear cost advantage over address the issues of the future managers. other cities. “We must create an environment which supports Worries about Europe innovation and entrepreneurship.” Jain expressed concerns about Europe during his speech. But Jain was unwilling to admit criticism directed at banks. An average youth unemployment rate of around 25 percent On the question of whether the and weak economic growth are not Deutsche Bank was far too cautious good for the future, he stressed. Europeans should use their in lending to young entrepreneurs, “Europe needs to grow,” Jain restrengths by increasing peatedly used the phrase, pointing he answered with a clear “No”. investments in education, out that over the next five years, while There is enough money in the Asia is forecast to grow by 36 percent research and development and market and that will be passed on, he and the US by 18 percent, European stressed. Nevertheless, firms should liberalizing the labor market economic output is expected to exnot rely solely on banks for their pand by just nine percent. financial needs, Jain added, indicating that there are also other sources of funding in the form of It will have consequences in the form of a decline in venture capital or corporate bond markets. Europe’s competitiveness, argued Jain. When asked why After the crisis then he himself has lived in Europe for 20 years, he simply At the end, there was a conciliatory tone from the Deutsche laughed and appealed to Europeans to use their strengths Bank’s co-CEO. The euro crisis is largely behind us and the Euby increasing investments in education, research and development and liberalizing the labor market. The co-chief of ropean Central Bank has done an excellent job to ensure stability, noted Jain. “We needed a period of time to catch our breath Germany’s biggest bank also spoke on the issue of immigration: “Some see skilled migration as a threat – in fact, it’s an and now the focus must shift from stability to growth.” ■ Source: Deutsche Welle opportunity,” he said.

cordeditorial@cma.rs |

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WORLD NEWS

Business Dialogue 01

Justice “I took what I knew to the public, so what affects all of us can be discussed by all of us in the light of day, and I asked the world for justice.” — Edward Snowden, American computer professional

UAE

Etihad Airways to Acquire 49.0% of Alitalia

Asia's Illegal Betting Boom

Emirates airline Etihad Airways acquired 49.0% of Alitalia, concluding months of tough negotiations and following years of financial crises at the Italian airline. This may change the airline and tourism industry in Europe and beyond. Today Alitalia and Etihad Airways confirmed that they have agreed the principal terms and conditions of a proposed transaction whereby Etihad Airways will acquire a 49 per cent equity stake in Alitalia. The airlines will now move to finalise the transactional documents, that will include the agreed upon conditions, as soon as possible. The conclusion of the investment is subject to final regulatory approvals. The ANSA newswire reports as many as 122 pilots are among the 2251 Alitalia employees which would be laid off under the terms of the plan. It is claimed Etihad intends to ground fourteen Alitalia A320s as part of its vision for the carrier.

GERHARD ROISS, OMV CEO (left) and ALEXEI MILLER, Gazprom CEO sign the final deal

As teams battle for football glory at the World Cup in Brazil, the biggest winners from the tournament may be illegal bookmakers in Asia. “It is the biggest single gambling event of the decade and each World Cup gets bigger,” said Warwick Bartlett, CEO of Global Betting & Gaming Consultants. Government monopoly operators offer legal sports betting in a handful of Asian jurisdictions, including mainland China, Hong Kong, Macau, Singapore, South Korea, Japan and Taiwan. The Philippines’ Cagayan province

AUSTRIA

Gazprom and OMW Signed South Stream Gas Pipeline Agreement

Russia’s Gazprom and Austria’s OMV oil and gas companies signed an agreement on the creation of a joint-stock company, South Stream Austria, outlining the principles for the construction and exploitation of the Austrian stretch of the South Stream gas pipeline. The agreement was signed during Russian President Vladimir Putin’s visit to Vienna. Gazprom and OMV CEOs Alexei Miller and Gerhard Roiss put their signatures under the document. Gazprom and OMV will own a 50 per cent stake each in the joint venture. The agreement specifies the duties and responsibilities of the shareholders as well as the funding and profit-sharing principles. In April, the sides sealed a memorandum on the construction of South Stream in Austria with annual gas supplies to that country through the future pipeline estimated at 32 billion cubic metres. Construction permit is expected to be issued in 2015 and the first supplies were initially set for 2017. The pipeline is due to reach its full operational capacity by 2018. However, OMV hopes that Austria may get its first gas through South Stream earlier than planned – in late 2016. The pipeline with its total annual capacity of 63 billion cbm will connect the Russian port of Novorossiisk and the Bulgarian coast through the Black Sea and branch out towards Austria’s Baumgarten via Serbia and Hungary. 38 |

CHINA

117 July 2014 | www.cordmagazine.com

is home to 68 online gambling companies. It’s banned outright in many other countries, including India, Indonesia and Thailand. But thousands more illegal online bookmaking outfits, which don’t pay tax, are thriving because they offer better prices, odds, wider variety of bet types and credit. Asia accounts for just over half of the nearly $700 billion in illegal bets placed worldwide, according to a recent report by a sports monitoring group.

USA

Amazon Launches Fire Phone Smartphone Amazon’s chief executive, Jeff Bezos, has unveiled his company’s new Fire Phone at a press conference in Seattle. Designed for one-handed use, the smartphone is larger than Apple’s iPhone and is expected to run on a modified version of Google’s Android system, already used for Amazon’s Kindle tablets. A new feature will let users take bar codes, phone numbers and book titles with the camera and then be led towards buying the item on the Amazon site. The Firefly system also has audio recognition, so it can listen to a song and direct users to the Amazon site to buy it later. The Wall Street Journal has reported that AT&T is to be the exclusive carrier for the new phone when it becomes available in the US market. Samsung and Apple dominate worldwide smartphone sales with 46 percent of the market between them according to technology marketing data company International Data Corporation. It indicates that Amazon’s market share of the tablet sector now stands at 1.9 percent. Source: Reuters, AFP

RUSSIA

Carlsberg Refuses to Quit Denmark’s Carlsberg will keep its breweries in Russia running even though most are operating at reduced capacity. Once a safe bet in a country where beer was considered a soft drink, the Russian market has been hit by new regulations, tax hikes and the economic downturn that has seen a growing middle class turn away from buying extras such as beer. Tighter rules intended to curb alcoholism, and the economic slowdown, have already prompted the world’s largest brewer, Anheuser-Busch InBev, to shut its third Russian plant in less than two years, but Carlsberg’s senior vice president said his company believed in a turnaround. “It is not easy, we do have empty capacity, but strategically we are trying to hold our assets because there is a reason to believe that this market will come back to growth,” said Isaac Sheps, who looks after Eastern Europe.

Important Role

JAPAN

“Football has an important role to play in society. Players should have a sense of social responsibility; have a moral dimension to them which shows up in good conduct.” — Vicente del Bosque, Spanish football team manager

Doubling Investment in Oil and Gas

WORLD

Over 13 Million “High Net Worth Individuals” (HNWI)

President HIROBUMI KAWANO

State-run Japan Oil, Gas and Metals National Corp (JOGMEC) could double its investment in oil and gas resources in the long term. President Hirobumi Kawano told Reuters that JOGMEC would in particular focus on boosting its investment in liquefied natural gas assets, with Japanese appetite for the fuel rocketing following the shutdown of all the country’s nuclear reactors in the wake of the Fukushima crisis. “The number of oil and gas projects in which we invest or give debt guarantees could double by 2030,” Kawano said. The agency, set up in 2004 to help secure fuel for resource-poor Japan, currently directly invests in or provides financial guarantees for about 50 oil and gas projects worth a total of more than 1 trillion yen ($9.8 billion), including shale gas in North America. Japanese imports of LNG hit a record 87.5 million tonnes in 2013, with government data through May suggesting this year’s level could be even higher. Kawano said that JOGMEC would continue to support Japanese energy companies as they look to compete with overseas rivals.

Virgin Wins West Coast Mainline Contract Virgin Trains has promised to improve trains and rail stations on the West Coast mainline after it won a deal to continue running the franchise until March 2017. The operator has pledged to invest more than £20 million to modernise stations, improve waiting rooms, seats and shelters after it won the contract which first went out for tender two years ago. Virgin Trains previously lost out to FirstGroup in the battle for a new 13-year West Coast franchise, but the process was scrapped by the Department for Transport due to errors in the bidding process. It resulted in a temporary deal allowing Virgin to run the West Coast service until November. The government said the move would bring £35 million worth of passenger. The train operator will now also start work to secure new direct services between Shrewsbury, Blackpool and London from December, after initially scrapping plans to provide direct services to Shrewsbury from London earlier this year.

Number of high net-worth individuals rose by 1.76 million to 13.7 million around the world A record 13.7 million people are now classed as “high net worth individuals” (HNWI), according to a survey of the planet’s most well-off citizens. The collective wealth of HNWIs – defined as those with investable assets of at least $1million not including their main home, their art collection or vintage sports cars – rose by 13.8% to $52.6 trilion. The latest wealth report by consultancy firm Capgemini and the wealth management arm of banking group RBC found that almost 40% of those fortunes were created in the last five years. In Britain, more than 62,000 people became HNWIs last year, bringing their numbers to a record high of 527,000 – or one in every 121 UK citizens. In order to distinguish the super-rich from the uber-rich, a second category exists within the survey dubbed “ultraHNWI”, who have more than $30 million of assets to invest. There are 128,000 of these – an increase of 18,000 on the previous year – who collectively hold assets worth $18 trilion. Despite the increase in the UK’s wealthy, Britain is far behind the US in terms of the total number of HNWIs. In the US there are 4.3 million people with more than $1mln investable assets, an increase of 16.6% on the previous year. The top four global economic powers – the US, Japan, Germany and China – are home to 60% of the worldwide population of HNWIs. The Asia-Pacific region re-

corded the biggest growth in number of HNWIs to 4.33 million, leaving the region just 10,000 super-rich people short of overtaking North America. “Global HNWI financial wealth is forecast to grow 6.9% annually through 2016 to reach a new record high of $64.3 trillion, with an additional $11.7 trillion in NHWI wealth created over the three-year period 2014-2016,” the analysts said. “Every region except Latin America is expected to grow strongly.” However, Ireland and the United Arab Emirates shared the distinction of creating new wealth at the fastest rate, with the number of HNWIs increasing by almost a quarter in both countries. Switzerland, synonymous with low taxes and banking secrecy, added 48,000 new HNWIs last year to jump to seventh place in the millionaire rankings with 330,000. With a population of just 8 million, it means one in every 24 people in the Alpine country have more than $1m of assets to invest. In the Capgemini and RBC Wealth Management survey of 4,500 HNWIs across 23 countries, 60.5% of respondents said making a positive social impact was very important or extremely important. In India, which is now home to 156,000 HNWIs, 90.5% of respondents said it was important for them to give their time or money to make a difference, compared with 60.2% in the UK and just 31.4% in Belgium.

GERMANY

BMW to Launch Cost-Cutting Drive BMW is seeking cuts to its costs to the tune of €3 billion to €4 billion every year until 2020. The cost-cutting drive was intended to ensure BMW reached its goal of an 8 to 10 per cent operating profit margin. BMW declined to comment on the programme, saying only that the company was always working to improve its profitability. “It’s no secret that we persistently aim to reach an operating profit margin between 8 to 10 per cent in our automobile segment. This is the goal for our long-term planning,” said a BMW spokesperson. cordeditorial@cma.rs |

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BRITISH INTERNATIONAL SCHOOL ACADEMIC YEAR 2013/2014 HIGHLIGHTS

Parties and Prizes It’s been a year to remember for staff and pupils at Belgrade’s British International School. Here we offer up some of the highlights and extraordinary achievements MR IAN DAVIES, PRIMARY SENIOR TEACHER, H.E. ROMAN WASCHUK, AMBASSADOR OF CANADA, AND MR WILLIAM FERGUSON, YEAR 4 TEACHER, WITH BIS STUDENTS

ion parade, this year featuring traditional Pakistani clothes; songs by children the Top Primary School Student and the from the Primary School; a musical item BIS PEACE AMBASSADOR Top Class. by two Secondary students, as well as a - 25TH MARCH, 2014 The results were phenomenal and delightful display of dancing by youngBIS secondary student Ana L. was one Ambassador Waschuk, BIS Principal sters dressed in traditional Serbian cosof just eight lucky students worldwide Ms Keserović and all the BIS staff were tumes and energetic Salsa dancing by a chosen to travel to the UN Headquarters amazed at how well the BIS students relocal dance group. in New York to present “Friend Our sponded to this challenge. Year 4 came There were games and workshops, World” messages of peace in March. This out as the top class at BIS and, with a while international cuisine was on sale at special celebration marked International score of over 212,000 points, was the the national food stall donated by parents Day for the Elimination of Racial Top European Class that week. Year 2 stuand offering tempting Lebanese, Japanese, Discrimination and the six-month countdents (6-7 years old) also pulled togethIndian and other Asian delicacies. down to International Peace Day 2014. er as a year group and came second in the The annual favourite of BIS charity Year 7 students at BIS created a large school, as well as being 2nd in the Europe events is the raffle draw, which this year peace poster that was sent to Ana and offered some outstanding prizes, input on display at the UN in New York. Hall of Fame. These excellent achievecluding a week in Greece, a weekend on Well done Ana! ments are even better when one realises Kopaonik, a weekend in Vrdnik and meal YEAR 4 ARE SUPERMATHLETE that BIS students were competing against vouchers for exclusive restaurants. CHAMPIONS - 22ND APRIL, 2014 other students from all over the world. The proceeds donated to the The week beginning 7th April The annual favourite of BIS charity Children’s Shelter, Zvecanska str. was a busy one at the BIS Primary In the wake of the catastrophSchool, with all students activeevents is the raffle draw, which this ic flooding that hit many parts of ly engaged in the SuperMathlete year offered some outstanding the country, the BIS Garden Party Challenge. prizes, including a week in acted as a collection and distriThe results of the Challenge Greece, a weekend on Kopaonik, bution point for donated items were announced in the assemto help those in need and the bly the following week, where a weekend in Vrdnik and meal the guest of honour, Canadian vouchers for exclusive restaurants school itself donated 500,000 RSD for the flood victims. Ambassador H.E. Waschuk, graWe would like to thank all those ciously agreed to hand out trophies and Year 4 pupil Oliver H. was the Top who supported this fundraising entercertificates. SuperMathlete, with a personal talprise, especially the donors of valuable Students spent the week solvly of over 58,000 points, and was very prizes: SIM Tours Belgrade; MK Resort ing mathematical problems on the pleased to receive his trophy from Kopaonik; Premier Aqua Vrdnik; Hotel Mathletics online programme from 3P Ambassador Waschuk. Hyatt Belgrade; Grand Casino; Hotel Learning as they competed to be their SPRING CHARITY GARDEN Zira Belgrade; Home Made Company year’s SuperMathlete, so seven awards PARTY - 24TH MAY, 2014 Belgrade; Hotel Excelsior Belgrade; were up for grabs. At the same time, any This year’s Garden Party atmosAuto Komerc Karting and all our othstudent entering the Top 100 European phere was enhanced by a casual layer friends who offered their time, efHall of Fame was also rewarded with a out and an emphasis on entertainment. fort and gifts. ■ certificate. Finally, there was a trophy for There were the usual favourites – a fash40 |

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AFTER WORK 29.05.2014

PRaise for PRofessionals

The Public Relations Society of Serbia presented awards for the best communication campaigns, projects and initiatives at the 17th consecutive annual reception. The final selection included 24 works from the corporate, public and non-profit sectors. In the category of PR Agency of the Year, awards were bestowed on Executive Group (in the category of large agencies) and New Moment New Ideas Company (in the category of small and medium-sized agencies). The prestigious Communicator of the Year Award went this year to Predrag Marić, Deputy Interior Minister and Head of the Sector for Emergency Situations of the Interior Ministry of the Republic of Serbia.

DARKO MATIJAŠEVIĆ, CEO AND FOUNDER OF EXECUTIVE GROUP

RAJKA ŠINIK, PRESIDENT OF THE JURY OF THE SERBIAN PR SOCIETY; BRANKA CONIĆ, DIRECTOR OF PR AGENCY NEW MOMENT, AND IVAN JAKŠIĆ, PRESIDENT OF THE SERBIAN PR SOCIETY

EXPERT JURY

For the fourth consecutive year, the French-Serbian Chamber of Commerce, with the support of its members, successfully organised the “Student Award” aimed at promoting sustainable development in higher education institutions. The theme of this year’s award was “How will we move in the future?” and the award ceremony for the best students was held at Belgrade’s Press Centre of the Association of Journalists of Serbia. First prize, which was sponsored by Schneider Electric, went to Ivana Ziramov, a student of the Novi Sad Faculty of Technical Sciences. Second prize, sponsored by Crédit Agricole bank, went to Dragiša Gligorijević from the University of Belgrade’s Faculty of Transport and Traffic Engineering. 04.06.2014

SupErste Awards

03.06.2014

Moving Towards the Future

DRAGOLJUB DAMLJANOVIĆ, DIRECTOR OF SCHNEIDER ELECTRIC, MIDDLE: NINA TODOROVIĆ, FRENCH-SERBIAN CHAMBER OF COMMERCE, RIGHT: IVANA ZIRAMOV, FACULTY OF TECHNICAL SCIENCES IN NOVI SAD (1ST PRIZE WINNER)

U.S. AMBASSADOR IN BELGRADE, H.E. MICHAEL KIRBY

The American Chamber of Commerce in Serbia (AmCham) has launched a long-term support programme at the Petnica Science Centre in order to affirm education and research at this regional centre, with the aim of ensuring the stability of Petnica’s operations, but also further development. The visit to Petnica included U.S. Ambassador in Belgrade, H.E. Michael Kirby, and Serbian Minister of Education, Science and Technological Development, Dr Srđan Verbić, who spoke, together with AmCham representatives, about leadership and economic development with the participants of the regional seminar “Creating a modern leader.”

For the last seven years Erste Bank has presented awards to outstanding young people who are pushing boundaries in different areas. “It is an exceptional honour and pleasure to reward their achievements and encourage them to continue walking the path of success in the future,” said Sonja Konakov Svirčev, spokesperson of the SUPERSTE Club. The Ljubiša Rajić Special Recognition for social activism was presented to Maša Davidović (born 1990), who is the National Coordinator for Human Rights and Peace (IFMSASerbia). The main prize in the category of science and engineering technology fields went to Dušan Dimić (born 1990), who graduated from the University of Belgrade’s Faculty of Physical Chemistry. The main prize in the category of Social Sciences and Humanities was awarded to Maša Mišković (born 1991), who received the Gold Medal “for outstanding achievements in learning and acquiring knowledge”.

04.06.2014

Contemporary Leaders of Education

DR SRĐAN VERBIĆ, SERBIAN MINISTER OF EDUCATION, SCIENCE AND TECHNOLOGICAL DEVELOPMENT

IRENA JOSIFOVSKA, MAŠA MIŠKOVIĆ, DUŠAN DIMIĆ AND MAŠA DAVIDOVIĆ

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AFTER WORK 04.06.2014

For the children of Sremcica

MARKO POPOVIĆ, DIRECTOR OF THE RETAIL BANKING SECTOR AT PIRAEUS BANK BELGRADE, AND MILKA MILOVANOVIĆ MINIĆ, DIRECTOR OF THE SREMČICA CENTRE FOR CHILDREN AND YOUTH WITH SPECIAL NEEDS

Piraeus Bank has presented the Sremčica Home for Children and Youth with Special Needs with a donation totalling €2,230, which Piraeus employees secured through their participation in the CorD Charity Masters humanitarian race under the auspices of the Belgrade Marathon. This donation is the result of the great response to the call of Piraeus Bank to donate funds to charity for every kilometre run by employees. Residents of the Sremčica Home provided great motivation for the most massive response of employees who, together with their family members and friends, ran a total of more than 650 kilometres! “It is the desire of everyone at Piraeus Bank for us to help, in order to more easily overcome obstacles on the life path,” said Marko Popović, director of the Retail Banking Sector at Piraeus Bank Belgrade.

06.06.2014

Marketing Award Following a decision of the expert jury, Natalija Popović, Communications and Sustainable Development Director at company Hemofarm, was awarded the prestigious Captain Miša Anastasijević Award for outstanding contributions and achievements in the field of marketing and communications. “I am honoured to be here today, among the winners. It is particularly impressive that efforts aimed at strengthening the image of Hemofarm and creating the visual identity were recognised by the professional marketing public,” said Popović. This prize has been awarded annually since the year 2000 under the auspices of the project “Route to the Top”, with the aim of affirming the values of entrepreneurship, creativity and social responsibility. The project is led by Novi Sadbased agency Medija Invent and the universities of Novi Sad and Belgrade, with the assistance of chambers of commerce in Serbia. DRAGAN LUKAC, PRESIDENT OF THE NOVI SAD REGIONAL CHAMBER OF COMMERCE, AND XENOPHON DAMASKOS, MEMBER OF THE EXECUTIVE BOARD OF VOJVOĐANSKA BANK

09.06.2014

June Award for Vojvodjanska Bank

JURY CHAIRMAN, PROF. RADOVAN PEJANOVIĆ, VICE-CHANCELLOR FOR FINANCE AND ORGANISATION AT THE UNIVERSITY OF NOVI SAD, AND NATALIJA POPOVIĆ, COMMUNICATIONS AND SUSTAINABLE DEVELOPMENT DIRECTOR AT HEMOFARM SRBIJA

On the occasion of the celebration of the Novi Sad Regional Chamber of Commerce, Vojvođanska Bank has won the “June Award”, which is traditionally awarded to the most successful companies in the previous year. The award is presented to companies that have achieved remarkable success and given an outstanding contribution to economic development on the territory of the city of Novi Sad and the 11 municipalities of the South Bačka District. “The June award represents confirmation that Vojvođanska Bank has been recognised among companies whose common goal is to improve the economic climate. We are very proud that our efforts have been noticed,” said Xenophon Damaskos, Member of the Executive Board of Vojvođanska Bank, upon receiving this award.

11.06.2014

Management Champion

JOVANA ŽURŽIN, CORPORATE COMMUNICATIONS DIRECTOR AT SIEMENS LTD. BELGRADE, SLOBODAN MILOVANOVIĆ, RAPP ZASTAVA KRAGUJEVAC, H.E. NILS RAGNAR KAMSVAG, AMBASSADOR OF NORWAY TO SERBIA, ALEKSANDRA TOMIĆ, PRESIDENT OF THE PARLIAMENTARY COMMITTEE FOR THE ECONOMY, ZORAN KIJANOVIĆ, EDITOR OF SUCCESSFUL ENTREPRENEURS AND MANAGERS SERBIA

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At the traditional symposium of successful entrepreneurs of Serbia, Serbian entrepreneurs and managers awarded Tihomir Rajlić, CEO of Siemens d.o.o. Belgrade, as the most successful manager of the previous year. For the fourth time, local businessmen and managers presented the Best of the Best Award to their most successful colleagues for their work, dedication, contribution and results, as well as their influence on the economic picture of Serbia and its development. In addition to presenting awards and recognitions at the Symposium of successful entrepreneurs of Serbia, the publication “Successful entrepreneurs and managers of Serbia” was also presented.

JOVANA ŽURŽIN, CORPORATE COMMUNICATIONS DIRECTOR AT SIEMENS LTD. BELGRADE AND ZORAN KIJANOVIĆ, EDITOR OF SUCCESSFUL ENTREPRENEURS AND MANAGERS SERBIA

12.06.2014

Virtual Offices in Downtown Belgrade

ANDREAS HAIDENTHALER, COMMERCIAL COUNSELOR AT THE EMBASSY OF AUSTRIA; MINA VARENDORFF, MARKETING DIRECTOR AT SEEOFFICES; ALEXANDER VARENDORFF, CEO OF BENA GROUP VIENNA; KONSTANTIN VARENDORFF, MANAGING DIRECTOR AT SEEOFFICES; MILAN PETROVIĆ, PRESIDENT OF SERBIAN ASSOCIATION OF MANAGERS

Company SEEOFFICES, a member of Bena Group Vienna, has opened a new flexible business centre in downtown Belgrade. The opening ceremony was attended by numerous guests from business and public establishments, while in a friendly atmosphere all guests were able to closely acquaint themselves with the possibilities of this modern business centre, such as virtual and daily offices.

ALEXANDROS DANILIDIS, GENERAL DIRECTOR OF UNITED SERBIAN BREWERIES, A MEMBER OF HEINEKEN GROUP, AND ILIJA ĆOSIĆ PH.D.

The annual Regional Business Partner awards, which are traditionally presented by Mass Media International, were received this year by Dutch company Heineken, Plantaže 13 Jul from Montenegro, Adriatic International from Croatia, Orao from Bosnia’s Republika Srpska, Dasotacom from Romania and Cyprus’s Iron Trust. The special Business Partner 2014 awards, which were awarded this year for the 20th time, went to the Royal Netherlands Embassy in Belgrade for its special contribution to strengthening economic cooperation between Serbia and the Netherlands, Telekom Srbija and the Novi Sad Institute for Field and Vegetable Crops.

17.06.2014

Business Partner 2014

UWE KOEHN, PARTNER AT ENOVO; ALEXANDER SAMONIG, CHAIRMAN OF THE ADVISORY BOARD AT SEEOFFICES

The Austrian Embassy in Belgrade has opened its doors to citizens, who were given the opportunity, over coffee and cakes, to talk with Ambassador Johannes Eigner and other diplomats. The Austrian Ambassador said that he personally made Carinthian cake for this occasion and that he hoped visitors would enjoy a Viennese coffee and pastries from different regions of Austria. Visitors to the Austrian Embassy had the opportunity to tour the building of this diplomatic mission in Belgrade. The event Day of Open Doors of the embassies of European Union member states is organised with the support of the EU Information Centre in Belgrade.

17.06.2014

Open doors of the Austrian Embassy

OSCAR BENEDICT, DEPUTY HEAD OF THE EU DELEGATION TO SERBA, AND JOHANNES EIGNER, AUSTRIAN AMBASSADOR TO SERBIA

26.06.2014

Sommerfest DSW – German-Serbian Business Association organized the traditional summer festival “Sommerfest” for its members and friends, starting with the streaming of the football match Germany vs. USA, while cheering and enjoying German beer Erdinger on the newly opened terrace of Hotel Falkensteiner. After a short speech held by Dr. Ronald Seeliger, president of DSW, and a company-video by Lufthansa, the guests had the opportunity to enjoy the evening during the cocktail. DSW used this great event to welcome its members once more before the short summer break, which will be used to work hardly on the upcoming events like Serbian Visions, Oktoberfest and others.

DR. RONALD SEELIGER, PRESIDENT OF DSW

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CULTURE CALENDAR CONCERTS

EXIT

Sea Dance Budva, Montenegro, 15-17 July After plenty of fun at Petrovaradin Fortress for EXIT, the best European festival continues the rhythm of the great adventures of an EXIT Sea Dance Festival, to be held from 15th to 17th July along one of the most beautiful beaches on the Adriatic Coast, Jaz Beach in Budva.

This year’s main stage festival performers will include some of the biggest stars of the world music scene, Jamiroquai, Underworld and EXAMPLE live, while visitors can also expect performance from other big names of the world and regional music scene, such as KLINGANDE, Tara McDonald, Juan Atkins, Kirill DJAIKOVSKI ft. TK Wonder, Bad Copy, Darkwood Dub, EDDY™, EYESBURN, Rambo Amadeus, URBAN & 4 and WHO SEE. Behind the name KLINGANDE is a young Frenchman Cedric, who is one of the most popular new names on the electronic scene.

Novi Sad, 10-13 July

and Rambo Amadeus. One of the most famous electronic music acts from the Balkans is the band Kiril Djaikovski ft. TK Wonder (MK / USA). During the second day of the festival he will be joined by British DJ, producer and radio host, Eddy Temple-Morris aka EDDY ™, and alongside them the second day of the festival also includes concerts by local bands Lollobriida, Eyesburn and Who See Bad Copy. The incredible dance music of vocalist Tara McDonald, known for her hits and collaborations with Armand Van Helden (“MyMyMy”), Axwell

(“Feel the Vibe”), David Guetta (“Delirious”) and Afrojack (“Pandemonium”), joins the Sea Dance Festival on Thursday 17th July! The performances of the father of techno music, Juan Atkins, and local favourites, Urban & 4 and Darkwood Dub, are scheduled for the third day of the festival. For the full festival programme please visit seadancefestival.me Worldwide success came with his big hit, “Jubel” that quickly achieved over 40 million views on YouTube. He will share the magic of his music with the audience at the Sea Dance Festival on Tuesday 15th July and his performance will likely be the perfect finale to an evening that will also feature the stars of the festival, Jamiroquai

Hugh Laurie & The Copper Bottom Band Sava Centre, 14 July @ 21.30 British actor, comedian and musician Hugh

Photography Exhibition Magacin, 1-9 July With the help of American Corner, photographer Violeta Milutinović will present her work with an exhibition to be held in Magacin (Kraljevića Marka st. 4) from 1st-9th July. Ms Miljković has contributed to over 200 photography exhibitions in more than 30 countries on all continents and has received over 180 awards and commendations. Violeta has been on the list of the most successful authors of the FSS since 2009 (ranked second in 2010, 2011 and 2012). Until now she has had two solo

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photography exhibitions: “Three Dimensions”, 124 photos, June 2012, Project of FC Belgrade; “Ignored world”, 70 images, July 2012, Project within the Trebinjski days of photography.

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This year the EXIT Festival will once again host the top music names from around the world, as well as thousands of visitors from the region. Skrillex is the best-known dubstep name today and one of the world's most popular DJs. He became world famous in record time and his progressive EP releases "Scary Monsters and Nice Sprites" and "Bangarang" won over not only the hearts of the audience, but also six Grammy Awards, including for Best Dance Recording and Best Dance / Electronica Album. In July 2012 he reached top spot on the Billboard Social Chart, which ranks artists based on popularity on social networks: he is currently followed on Laurie, better known as the fussy and cynical main character of TV series “Dr House”, will be performing in Belgrade this summer. As part of the world tour promoting last year’s album

Facebook by nearly 15 million people, a figure on a par with artists such as Madonna, and has more than three million fans on Twitter. He currently occupies ninth place on the Forbes list of the highest paid DJs, with earnings of over $16 million in 2013. Skrillex will perform at Exit on Saturday, 12th July with an exclusive audio-visual live performance, designed specifically for his new summer tour. For a complete list of performers at this year’s Exit Festival, please visist exitfest.org.

bljana, Slovenia, and now everyone who listened to the praise of his concerts has a chance to see him in Belgrade. Great interest among the local audience is confirmation that Laurie is a versatile artist who uses elements of drama and stand-up comedy during his concerts. For complete programme information, please visit eventim.rs

SUMMER3P

“Didn’t It Rain,” the audience at the Sava Centre will be presented with Hugh Laurie and The Copper Bottom Band. “I decided to go further and deeper into the forest of American music that fascinated me as a child. As I went further, I was increasingly fascinated. I was bewitched with music and the people with whom I had the honour of working on a new album” said Laurie. The producer of the new album was again Joe Henry, a winner of multiple Grammy awards, and the album was recorded in January 2013 at the Ocean Way Studio in Los Angeles. Laurie’s Copper Bottom Band comprises excellent musicians - Jay Bellerose, Kevin Breit, Vincent Henry, Greg Leisz, Robby Marshall, David Piltch, Patrick Warren, Elizabeth Lea and Larry Goldings, who are joined for this tour by singer-songwriter from Guatemala Gaby Moreno and soul singer Jean McClain. On the album “Didn’t It Rain” respected blues musician Taj Mahal sings “Vicksburg Blues”, which was originally sung by Little Brother Montgomery. Last summer Laurie thrilled the crowd in Lju-

Palić, 17-20 July This year’s Summer3P festival of electronic music will be held from 17th to 20th July in a unique party location – the thermal pools and the Men’s Strand beach at Palić near Subotica. Performers at this year’s festival will include some of the hottest artists of the European and regional electronic scene, including Hedflux (England), Kassey Voorn (Greece), Highlands Hewek (Russia), Mladen Tomić (B-H, RS), as well as more attractive local and regional DJs. For the visual part of the party, the VJ team Kids on Truth will be in charge every night. With an excellent blend of electronic music and night swimming in the thermal pools, festival Summer3p makes for an impressive summer experience under the open sky. In addition to the music

CULTURE NEWS

MUSICOLOGY

Museum Night

Kalemegdan, 24-27 July This July we will overcome the monotony of summer in the city with a brand new Belgrade festival that will host international stars from different musical genres, with the only condition being quality. The musicology festival will also be a kind of programme, this year’s Summer3p will also be a gathering place for cooperation and communication among visitors from the region and the world, through a series of interesting and involved workshops, campaigns and projects. This year we draw attention to three important campaign: Stop the Violence, Clear Lake Palić and Save Nature. During the festival there will be more workshops: Ecology, Art, Sports... Those interested will have the opportunity, assisted by workshops coordinators, and socialising with other students, to adopt or improve artistic techniques, have fun

school of music, with a clear and uncompromising idea to awaken creative thought in the youth and provide a choice of options to hear something different, as well as uniting all lovers of good sound in the four nights of the festival! Musicology is here to open new doors and restore the image and feel of old Belgrade. For the Musicology programme and tickets, please visit eventim.rs

ART

Weird Goes Belgrade and present the results of their work within the exhibition at the end of the festival. The festival was launched in 2003 with the aim of entertaining the youth of Subotica and offering a different and higher standard of entertainment for youth. The festival is organised by NGO “ASC” (“Anti trash Corporation) and Summer3p is traditionally held at Palić’s Men’s Strand and thermal pools. The fact that the main stage of the festival is in the area of thermal swimming pools is one of the key factors of its popularity, while the men’s beach is an ideal location for the content of non-musical events, such as workshops and sports activities. What distinguishes Summer3p from most other festivals is the existence of a diverse daily programme, which offers visitors the chance to take part in workshops, music production, journalistic, artistic and hip-hop workshops, as well as doing yoga each day on the shores of Lake Palić and attending promotional campaigns. As such, all visitors have the opportunity to not only enjoy a hot music programme, but also learn something new and make their stay at Palić useful and interesting.

Galerija KM8, Savamala, 1-9 July Gallery KM8 in Belgrade’s Savamala area will present the legendary German-Austrian team of street artists known as “The Weird”. This group of ten members has been active since 2011 and presents its work on large wall surfaces throughout Europe and America, but also in various galleries and other exhibition spaces. “The Weird” team’s approach to art is unorthodox and original, even by the standards of street art. Their style would best be defined as a successful combination of modern lowbrow art and street art, while works contain allusions to the rich herit-

age of the classic art of graffiti, but also traces of ironic playing with the art of comics represents its surrealistic motives and typography. During their visit to Belgrade, members of “The Weird” team will present their accomplishments in the field of screen printing, illustration and character design. The programme will be implemented by gallery “Electricity” from Pančevo and Gallery “Nojrotitan” from Berlin, with the support of the City of Pančevo and the Serbian Ministry of Culture and Information. The partner of this exhibition is Urban Incubator Association, in cooperation with the Goethe Institute in Belgrade.

Various locations, 7 June

This year’s National Museum Night was held on 7th June after being postponed due to the floods that devastated Serbia. The original date of 17th May was used for collections to help those in need. Museum Night’s organization has proven that museums, as well as being important points on the map of the world of culture, can quickly, and in the best way, respond to the current situation, contributing for those suffering flood damage by collecting aid. It was a time when museums opened their doors late into the night to get together with all visitors to help those who need it most. Some museums became collection points on that night, while others bravely open their doors to visitors, dedicating all of that evening’s proceeds to the flood

Ethno Fusion Festival Belgrade Sinagogue, 18-21 June

relief effort. On 7th June museums returned to their usual roles and showed everything they worked on during the past month. Through interesting, daring and educational exhibitions, cultural institutions and museums in Belgrade and Novi Sad, as well as Bela Crkva, Ćuprija, Idvor, Koceljevi, Kosjerić, Kovačica, Niš, Smederevo, Sremska Mitrovica, Subotica, Veliko Gradište, Sombor, Leskovac, Padina , Kragujevac, Jagodina, Zaječar and Bačka Topola, united again through Museum Night to present audiences throughout Serbia with a new cultural offer.

reserved for Shira Utfila, which performed old and new programmes together with a guest star from Israel: female vocalist Inbar Bakal.

Tom Jones

The fifth Ethno Fusion Festival was held from 18th to 21st June in the garden courtyard of the Belgrade Synagogue, again representing a journey into discovering and enjoying roots music during beautiful summer evenings al fresco. The festival opened on 18th June when musicians from seven countries participated: Israel, Slovakia, Bosnia-Herzegovina, Hungary, France and Serbia. Prior to the festival, these musicians spent five intensive and creative days together, combining their knowledge, sharing their traditions and bringing entirely new musical spaces into being. During the first evening they presented the results of their research and co-creating. The second day of Festival was dedicated to unique music expression, combining Iranian, Jewish and Balkan music in the shape of Sormeh. This continued with the beautiful songs of the Southern Balkans as interpreted by Izvor, comprising young talented musicians from Vranje. As usual, the final day of the festival was

Kombank Arena, 15 June On 15th June Tom Jones gave Serbian audiences a night to remember. Like a true professional, he started the concert right on schedule, at 9pm, although part of the audience had not yet reached their seats. Hits followed one after the other and the audience rewarded Jones with thunderous applause and screams

after every song. The playlist included more than 20 songs, among them “Green Green Grass of Home”, “It’s Not Unusual,” “I’ll Never Fall in Love Again,” “If I Only Knew”, “Tomorrow Night”, “Kiss”, “Thunderball”, “Strange Things”etc. The audience especially enjoyed the song “Delilah”, during which they got to their feet and surrounded the stage dancing. Belgrade was simply ravenous for Jones’s singing and his performance, which will surely be long remembered.

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FACES & PLACES 26.05.2014

Indian dance at Kolarac

Indian Ambassador, H.E. Narinder Chauhan, light the traditional lamp in inauguration of the Indian classical ‘Kathak’ dance performance by Ms. Rujuta Soman and her group on 26th May at Kolarac Hall. The dance troupe performance was sponsored by the Indian Council for Cultural Relations and organised by the Embassy of India in Belgrade. The performance, which was dedicated to the flood victims, proved to be a huge success. Humanitarian performances were also held in Leskovac and Niš, in collaboration with the mayors’ offices. 29.05.2014

Azerbaijani National Day

Azerbaijani Ambassador to Serbia, H.E. Eldar Hasanov, hosted a reception to mark his country’s national day which included a minute’s silence to pay respect to the victims of the floods that hit Serbia. Noting that Azerbaijan had received the news of the disaster with regret, Ambassador Hasanov reminded that his country had immediately sent aid worth €400,000 to Serbia and Bosnia & Herzegovina. The gathering was addressed by Serbian Deputy PM and Trade and Telecommunications Minister Rasim Ljajić and attended by many members of the diplomatic corps, Serbian government officials and representatives of political, cultural and public life.

BORUT PAHOR, President of the Republic of Slovenia (left), and ŽELJKO SERTIC, President of the Serbian Chamber of Commerce 30.05.2014

Serbian-Slovenian Business Forum

Minister IVAN TASOVAC, former president of Serbia, BORIS TADIĆ, HE. ELDAR HASANOV and MINISTER RASIM LJAJIĆ

The Serbian Chamber of Commerce hosted the Serbian-Slovenian Business Forum, which was organised under the framework of the official visit to Serbia of a Slovenian state-business delegation. Participants of the forum were addressed by Željko Sertić, President of the Serbian Chamber of Commerce, Samo Hribar Milič, president of the Chamber of Commerce of Slovenia, Serbian Economy Minister Dušan Vujović, Slovenian Finance Minister Uros Čufer and Borut Pahor, President of the Republic of Slovenia. The forum was organised jointly by the Serbian and Slovenian chambers of commerce in conjunction with the Embassy of Slovenia in Belgrade.

02.06.2014

Italian National Day

JADRANKA JOKSIMOVIĆ, Minister without portfolio responsible for European Integration, and H.E. Ambassador GIUSEPPE MANZO

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“A better life for future generations, the ideas and ideals that are emerging, the welfare of our people, but also others ... that is what Italy was built on 68 years ago, but also the foundations for building the friendship between Italy and Serbia,” – so said Italian Ambassador Giuseppe Manzo addressing a reception at his residence on the occasion of the National Day of the Republic of Italy. The Ambassador unveiled an organic garden in one part of the yard, with the help of Serbian Agriculture and Environment Minister Snežane Bogosavljević-Bošković. The reception was also attended by Speaker of the National Assembly Maja Gojković, as well as ministers Zorana Mihajlović and Srđan Verbić, former President Boris Tadić and many others.

117 July 2014 | www.cordmagazine.com

Mr and Mrs MANZO (right) and other Embassy Staff

04.06.2014

Nordic Day

CHRISTER ASP, Swedish Ambassador (left), NILS RAGNAR KAMSVÅG, Norwegian Ambassador, GUNNAR SNORRI GUNNARSSON, Ambassador of Iceland, PEKKA ORPANA, Finnish Ambassador, and MICHAEL BORG-HANSEN, Danish Ambassador

On the occasion of Russia Day, the national holiday of the Russian Federation, the country’s embassy in Belgrade held a reception that was attended by Serbian President Tomislav Nikolić and First Lady Dragica Nikolić, Serbian Patriarch Irinej and numerous Serbian government ministers. Russian Ambassador to Serbia, H.E. Alexander Chepurin, welcomed guests and noted that Russia was celebrating the 1152nd anniversary of the existence of the state, before going on to discuss events in Ukraine. The reception was attended, amongst others, by ministers Ivica Dačić, Zorana Mihajlović, Nebojša Stefanović, Ivan Tasovac, Kori Udovički, Bratislav Gašić and Vanja Udovičić, as well as the Chief of the General Staff of the Serbian Army, Ljubiša Diković, war crimes prosecutor Vladimir Vukčević and many others.

Belgrade’s Crowne Plaza Hotel provided the venue for this year’s Nordic Day celebrations marking the friendship between the peoples of northern Europe that has lasted for two centuries. Since the signing of the specific “Nordic Peace”, Denmark, Finland, Iceland Norway and Sweden have become each other’s closest associates and excellent neighbours. Like all good hosts, the guests were greeted at the entrance by Norwegian Ambassador Nils Ragnar Kamsvåg, Sweden’s Christer Asp, Denmark’s Michael Borg-Hansen Finland’s Pekka Orpana.

10.06.2014

Russia Day

H.E. ALEXANDER CHEPURIN and IVICA DAČIĆ, Minister of Foreign Affairs

Mrs and Mr CHEPURIN and Mr and Mrs NIKOLIĆ

An exhibition of photographs from the collections of the private Benaki Museum in Athens, entitled “Greek sea: a journey through time,” opened at the gallery of the National Bank of Serbia on Wednesday 11th June at 6pm. Marking the occasion of the end of the Greek presidency of the European Union, the exhibition was organised by the Embassy of Hellenic Republic in Belgrade, the Serbian Office for European Integration, the Hellenic Foundation for Culture and the National Bank of Serbia, with the support of Alpha Bank. The exhibition was opened by Greek Ambassador H.E. Constantine Economides, while guests were also addressed by Alpha Bank president Georgios Papanastasiou.

11.06.2014

Greek seaside images

GEORGIOS PAPANASTASIOU, CEO Alpha Bank (left), and H.E. CONSTANTINE ECONOMIDES

12.06.2014

Joint Franco-Serbian commemoration of WWI launched

RADOSLAV ZELENOVIĆ, Director of the Yugoslav Film Archive, and H.E. FRANÇOIS-XAVIER DENIAU

French Ambassador to Serbia, H.E. François-Xavier Deniau, hosted a reception at the French Ambassadorial Residence in Belgrade on the occasion of the first in a series of major cultural events to be held under the auspices of the Franco-Serbian commemoration of the centenary of the First World War. The reception was attended by numerous guests from the political, institutional, academic, scientific and cultural life of Serbia, as well as representatives of government and civil society. Alongside the ambassador, a welcome speech was also given by Serbian President Tomislav Nikolić.

H.E. FRANÇOIS-XAVIER DENIAU and Serbian President TOMISLAV NIKOLIĆ

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FACES & PLACES

18.06.2014

June meeting of managers

MILAN PETROVIĆ, SAM president, and RASIM LJAJIĆ, Serbian Deputy Prime Minister and Minister of Trade, Tourism and Telecommunications

The Serbian Association of Managers (SAM) held its traditional meeting of managers on 8th June. The event’s guest of honour was Rasim Ljajić, Serbian Deputy Prime Minister and Minister of Trade, Tourism and Telecommunications, while the gathering was thematically dedicated to the flood relief effort in Serbia. SAM assisted citizens who lost their homes in flooded areas with donations of cash and goods worth €4.5 million. SAM president Milan Petrović emphasised that the people of Serbia showed great solidarity and courage during the preceding disasters.

H.E. DENIS KEEFE, British Ambassador, and Mr and Mrs NIKOLIĆ 19.06.2014

Queen Elizabeth II Birthday The British Embassy in Belgrade celebrated the birthday of Queen Elizabeth II with a traditional garden party that was attended by Serbian President Tomislav Nikolić and numerous guests from political, business and public life in Serbia. The reception, held at the ambassadorial residence of British Ambassador Denis Keefe, was attended, among others, by the Speaker of the National Assembly of Serbia, Maja Gojković, heads of parliamentary caucuses and representatives of political parties, NGOs and the media. This year’s celebration was thematically dedicated to some of the world’s most recognisable British brands and export “products”: football, pop music, beer and car brands Land Rover and Jaguar.

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H.E. MICHAEL KIRBY, U.S. Ambassador to Serbia, MAJA PIŠČEVIĆ, Director of AmCham, ALEKSANDAR VUČIĆ, Serbian Prime Minister, and ZORAN PETROVIĆ, Chairman of AmCham 20.06.2014

Prime Minister visits AmCham Members of the American Chamber of Commerce in Serbia (AmCham) held discussions with Serbian Prime Minister Aleksandar Vučić regarding ways for the business sector to contribute further to the flood relief effort, but also progress to date in the reform process and the priorities of the economy and the government towards creating a better environment for doing business. At a traditional business lunch, AmCham members welcomed the commencement of reform work on amending key legislation, such as the Labour Law, Bankruptcy Law and the Law on Planning and Construction.

ALEKSANDAR VUČIĆ, Serbian Prime Minister

Croatian Ambassador to Serbia, H.E. Gordan Markotić, hosted a reception marking Croatia’s Statehood and Armed Forces Day at Belgrade’s Crowne Plaza Hotel, which was attended by numerous guests from political, public and cultural life, as well as members of the diplomatic corps, who were entertained by the performance of the Josip Jelačić Choir from Petrovaradin. Ambassador Markotić said that regional cooperation is one of the foreign policy priorities of his country, adding that he hoped Serbia would quickly progress along its path towards Crown Prince ALEKSANDAR KARAĐORĐEVIĆ, Mrs and Mr MARKOTIĆ and STANISLAV HOČEVAR, Archbishop and Metropolitan of Belgrade the EU during the coming years.

20.06.2014

Croatia Statehood Day

On the occasion of the Republic of Slovenia’s biggest national holiday, Statehood Day, the country’s embassy organised a gala reception in Belgrade. At the exclusive Kalemegdanska terasa Restaurant, Slovenian Ambassador H.E. Franc But has hosted many celebrities from the world of politics and culture, as well as numerous representatives of other foreign embassies in Serbia. Addressing attendees, the ambassador took the opportunity to highlight the good relations between the two countries.

24.06.2014

Slovenian Statehood Day

24.06.2014

Annual Awards Presented (BCC)

H.E. MICHAEL KIRBY, U.S. Ambassador (left), H.E. ROMAN WASCHUK, Canadian Ambassador, and his wife Oksana Smerechuk and H.E. FRANC BUT, Slovenian Ambassador

SLOBODAN PETROVIĆ CEO of Danube Foods Group

The traditional annual awards ceremony of the Belgrade Chamber of Commerce “Belgrade Victor” was held on 24th June in the Great Hall of Zemun’s “Madlenianum”. The awards ceremony was attended by representatives of the Serbian government, state institutions, the Belgrade City Assembly and the diplomatic corps, as well as numerous business leaders and figures from cultural and public life. The award for humanitarian work and contribution to the promotion of Serbia in the world went to the DRAGICA NIKOLIĆ Foundation. The Businessman of the Year Award was presented to Slobodan Petrović, CEO of Danube Foods Group.

27.06.2014

Celebration of Egyptian National Day

H.E. MENHA MAHROUS BAKHOUM, Ambassador of Egypt (left) and OLIVER ANTIC, representative of President Nikolic

H.E. Ambassador Menha Mahrous Bakhoum marked the National Day of Egypt by hosting a unique concert of the Egyptian choir from the heart of historical Cairo, which took the audience to the mystical world of Islamic Sufi chanting, Christian Coptic choir music and opera church hymns, blended in harmony to present a message of peace and love, demonstrating Egypt’s culture of diversity, moderation, tolerance and historical unity. The postconcert reception was attended by government representatives, religious dignitaries, representatives of the diplomatic corps and guests from Serbian civil society.

Egyptian Ambassador with Sama'a International Band chanting

cordeditorial@cma.rs |

117 July 2014 | 49

PRINT VERSUS DIGITAL

Print Isn’t Finished Just Yet In 2013, the Financial Times announced that it will lead with its web offering and scale back on its print output. With 100,000 more digital subscriptions than print sales, the move reflected an ambition to provide news on a more instant, reactive basis

of one pence. This bespoke offering has by the London Evening Standard to regainst a backdrop of consumalready proved a success, with the initial move its cover charge was still seen as ers being more likely to ‘pick print run for its first issue selling out and a potential risk. However, circulation has and choose’ media content, downloads performing well. since trebled and advertisers have been this shift is representative of Going forward receptive – proving that print isn’t finwider changes in readership habits. It Whilst The Sun and The Blizzard are ished just yet. raises a number of questions over the just two examples, they can offer an inIn a wider context where the consumfuture of newspapers, and other physisight into how mass-market publicaer experience is now more personalised, cal forms of publication. tions could operate in the near future. both digital and print can support each It is widely accepted that newspapers It may seem illogical to launch print verother in an over-arching product offerand magazines have declined in circulasions today, but there clearly is still deing. Fundamentally, the two offer very tion. Increasing laptop and tablet ownmand for a hard copy. The Sun admitted different ends of the spectrum, and the ership (tablet ownership rose 52% from that prior to installing its website paysuccess of The Sun and its paywall could 2012-2013*) and a rise in the use of sowall, “it didn’t make a great deal of monact as a benchmark for newspapers gocial media have facilitated access to the ey” via online – emphasising how charging forward. On one hand, you have the internet, and thus diverted attention ing for content, and of course, physical act of picking something up and making away from more ‘traditional’ sources of sales, are still key to its business model. the conscious effort to read – which is information. As such, more and more It is undeniable that print versions arguably a more ‘rewarding’ experience. publications worldwide now run a webof newspapers and magazines have On the other, the website is capable of site in line with its print edition. Some dropped in circulation and readership offering interactive material and breakmajor national newspapers have even terms. But on further inspection, it is ing news in a more ‘instant’ fashion. introduced a paywall for online access, clear to see that it can still be an imMagazines, in particular, offer ‘unhighlighting the increasing importance portant component to what publiof digital media to market strategy cations offer. Whilst the focus may and revenues in the current climate. It is undeniable that print well be shifting from print to digiThe decline of print? versions of newspapers and tal (the FT), it doesn’t have to mean It would be easy to assume that magazines have dropped in that print is being marginalised. print is on its last legs. In a world circulation and readership This is especially the case whilst where ‘instant access’ to news is the norm, it is incredibly difficult for terms. But on further inspection, consumers still enjoy reading physical copies of newspapers and magthis format to keep up with breakit is clear to see that it can still azines. Moreover, the relationship ing content. And combined with the be an important component to between the formats is evolving, drop in circulation and readership, it what publications offer and both can continue to operate is understandable why the Financial in tandem. Optional pricing strateTimes (FT) has decided to change its gies may well play a key role in this – be bundled’ content aimed at niche marapproach. So why are hard copies of all it payment for a single article or a fullkets, and a number are taking this furmajor newspapers and magazines still scale edition online. ther and offering more ‘tailored’ propreadily available? With the sustained demand for both ositions across the board. Consumers Figures show that print revenues cononline and print versions, having ink have the choice to pay whatever they tinue to dominate. The rise in ‘free’ magsmeared all over your fingers and shirt isn’t like, with the income from advertising azines has successfully been serviced by a problem that will go away just yet… ■ off-setting the minimum download fee mass advertising, but the decision taken

50 |

117 July 2014 | www.cordmagazine.com

SPECIAL EDITION

World Markets and Opportunities

HUNGARY

2014

THE ECONOMY of Hungary is a mediumsized, high-income, structurally, politically and institutionally open economy, which is part of the European Union's single market.

HUNGARY IS AMONG THE OLDEST countries in Europe. It was founded in 896AD, before France and Germany became separate entities and prior to the unification of Anglo-Saxon kingdoms.

HUNGARY IS ONE OF THE THIRTY most popular tourist destinations in the world, attracting 10.2 million tourists a year (2011).

HUNGARIAN CUISINE is based on pork, lard, goose fat, paprika, sour cream and vegetables.

HUNGARY HAS ONE OF THE MOST important thermal spring cultures in Europe. The country boasts no less than 1,500 spas, typically featuring Roman, Greek and Turkish architecture.

DURING THE LAST THREE years considerable measures have been taken by the Hungarian government to reform the country's public administration in order to reduce administrative burdens and simplify administrative procedures.

THE AUTOMOTIVE SECTOR is one of Hungaryâ&#x20AC;&#x2122;s core industries and generates almost 21% of total exports. More than 600 companies employing a total of 100,000 people are active in this sector.

HUNGARY HAS ONE of the highest motorway densities in all of Europe and the third highest road density, after Belgium and Holland.

INTERVIEW H.E. Mr. OSZKAR NIKOWITZ, HUNGARIAN AMBASSADOR TO SERBIA

Grabbing Economic Potential

Hungary and Serbia have a chequered history, but with the past forgotten and the future on the agenda, the two nations have the opportunity to share more than just a border. The northern neighbour knows what it means to go through the EU accession process and is willing to offer its full support to build a better tomorrow as partners

With a significant Serb minority living in Hungary and vice versa, it is important for these two countries – knitted together by the River Danube – to work closely together to push each others’ economies forward. At the centre of the work to boost economic and other bilateral cooperation is Hungary’s ambassador to Serbia, Oszkar Nikowitz. He speaks to CorD about his country’s own European path, its economic battles and what more can be done to further SerbianHungarian ties. ■ How would you most succinctly present Hungary, both as an EU country and an active participant in regional economic cooperation and political relations? - The principal foreign policy priorities of Hungary have not changed in the last two decades: accession to NATO and joining the European Union, with full integration into Europe’s structures and its system of values. We can now consider this objective to have been achieved, but at the same time we must not ignore our closer geopolitical reality either.

We give strategic priority to cooperation with neighbouring countries. Our economies and products are individually too small to appear on world markets, but jointly, putting together various goods and products, we may have a serious chance

WORLD MARKETS AND OPPORTUNITIES | HUNGARY

That is, the central and south-east European location of our country. Not all of our neighbours belong to the same system of alliance yet, but this fact should not prevent us from continuing to build close cooperation with them, if not for any other reason than the fact that large communities of Hungarians live in these countries. Regional economic cooperation is therefore the focus of our trade policy, and in order to promote it more effeciently our government has merged foreign trade with foreign affairs in a new ministry, the Ministry of Foreign Affairs and Trade. Regarding foreign trade, we give strategic priority to cooperation with neighbouring countries as we are convinced that the region’s other countries can only prosper by finding potential fields of cooperation to develop jointly. Our countries, economies and products are individually too small to appear in huge world markets, but jointly, putting together various sets of goods and products – this way we may have a serious chance. ■ Hungary has come in for criticism from the EU in recent times. However,

by all parameters the country is experiencing economic growth. When it comes to national interests, what characterises Hungarian ‘autonomy’ within the EU? - Although an alliance of values, the EU is not an organisation in which all members or sectors of politics or business agree on everything. Countries have their own interests and so do certain spheres of economic life or lobby groups, leading to collisions at times. One thing is certain: Hungary, like other countries, has an obligation to defend its national interests in the decision-making forums of the EU, as its democratically elected government bears responsibility for the welfare of voters and the country’s citizens. Sharp debates about national interests are quite common within the EU, and in most cases they end with a compromise. A compromise is when countries manage to adapt their ‘own’ solution to what is acceptable to mainstream policy. Hungary over the last couple of years has proven that its ‘own’ measures can be applied successfully to overcome the economic crisis and that they can be more efficient than the ‘orthodox ones’ sug-

ECONOMY

AUSTERITY

PARTNER

Hungary has kept its budget deficit under 3% and increased exports for a fourth consecutive year.

Hungary’s austerity measures hit banks, the financial sector, big companies and the owners of privatised utilities, not just the population.

Hungary is fifth on the list of Serbia’s export partners, behind Germany, Italy, Russia and China, and the 11th largest investor over the last decade.

gested within some financial circles. Our country has preserved its financial stability, managed to set the economy in motion and lowered the unemployment rate. We have kept our budget deficit under 3% and increased exports for the fourth consecutive year. ■ Despite harsh austerity measures, in recent elections a large amount of trust was placed in Prime Minister Orbán by voters who see him as a protector of their interests. This might be seen as unusual in other countries. What is your explanation? - To answer this question we have to go back to the aforementioned criticism, which originated mostly in the domestic circles that lost power in 2010 and found allies among some international financial circles in Europe that felt their interests in Hungary were being endangered by some of the Orbán government’s measures. The measures, and this is what is most important in the eyes of citizens, were aimed at levelling, spreading the burden of overcoming the crisis in all sectors of the society. That is, the banks, the financial sector, big companies, the owners of privatised utilities etc, not just the population. In other words, the austerity measures hit everyone equally, and their impact upon the population was made more mild by the notion of ’justness’. The voters naturally appreciated this during recent elections. ■ At a time when Europe is proving increasingly Eurosceptic, PM Orbán has declared that his large mandate is the result of Hungarians’ wish to continue along a European path. What did Hungary gain by entering the EU? - Contrary to another general misconception, anti-European feeling or

Euroscepticism does not dominate in Hungary. A healthy level of criticism is present, yes, but not a single significant part of society would question our membership of the EU, even if there are populists who from time to time use this to bluff their voters. The success of the governing coa-

Over the last couple of years Hungary has proven that its ‘own’ measures can be applied successfully to overcome the economic crisis and that they can be more efficient than the ‘orthodox ones’ suggested within some financial circles

lition was in fact a confirmation of the country’s European path. When one compares the pros and cons of membership, the 10 years we have spent within the EU show clearly that the whole country has made gains. Freedom of travel, employment, entrepreneurship, simplified businessmaking, unified rules, recognised diplomas and free education are direct advantages for citizens. Simplified business-making has attracted foreign working capital and helped alleviate unemployment. Further to this, an enormous amount of direct financial help has arrived in the shape of cohesion and investment funds, which has meant a lot to the modernisation of Hungary in terms of environmental protection, water treatment, tourism etc. In general, despite some diverting ideas inside the EU, the EU means security and the promise of prosperity – but it is always up to the individual country how it can realise this promise!

■ What can Serbia expect from entry to the EU and what are the preconditions for gaining member status? - First and foremost, EU membership means predictability within the business environment, which is exactly what foreign business investors are after. It is important to companies and business circles that in Serbia they should find similar, legally harmonised business surroundings to those they are accustomed to in other EU countries. It is a vested interest of Serbia’s that, in these difficult years economically, it attracts working capital and investors. And the easiest way to entice them is fulfilment of the legal harmonisation criteria. ■ Which sectors of bilateral cooperation between Serbia and Hungary are you most satisfied with and where could relations be more intensive? - Regarding bilateral cooperation, we can be most satisfied about how our political ties are developing. All the mistrust left over from previous decades, from the years of communism; hard transitional years in both countries; war in Yugoslavia; sanctions; some later mistrust relating to Hungary’s NATO membership; minority problems; interpretations of history etc – all traces of this are disappearing rapidly through our bilateral relations. Hungary’s unreserved support for Serbia’s European integration plays an enormous role in all this, and to our great pleasure, Serbia reciprocates our openness and efforts to help them. Hungary’s help during the recent floods and now, in eliminating its consequences, are appreciated in Serbia, which does a lot of good for mutual trust. All we have to do is continue along the same path and try to translate this mutual trust into practical measures in all areas: economics, cul-

HUNGARY | WORLD MARKETS AND OPPORTUNITIES

ture, education, health, environmental measures, disaster response, social ties, tourism etc. Serbia’s Hungarian minority can certainly play a catalysing role in making our ties closer. ■ Economic cooperation between these two neighbouring countries could certainly be more dynamic. Where do you see room for improvement in trade and investment? - Hungary, to the surprise of many, is currently fifth on the list of Serbia’s export partners, behind only big countries such as Germany, Italy, Russia and China. And regarding the list of investors over the last decade, we figure in 11th place. Judging by these numbers, we could be satisfied, but considering our bilateral relations I think we are lagging behind in terms of the potential of our economic cooperation. There are many fields where there is room for improvement in the near future. For instance, the transport and automobile industry, where Serbia, following investment by Fiat, has already become a significant factor. Agriculture and the food industry are traditionally vital sectors in both countries, and here cooperation has great potential. Investments are underway in the energy supply sector and environmental protection also. ■ There has been much talk of the socalled Danube strategy and collaboration relating to the most important river in both countries, yet little has been done in terms of implementation. What are the reasons for this? - Although Hungary during its EU presidency tried to make the Danube strategy a European issue, there was not much of a positive response from Brussels. Lip service, yes, but when it reached the delicate question of money and financing, plus the required organisational changes and setting up of institutions, support dwindled. It seems all those long-term projects that would no doubt have a beneficial effect on all countries in the region have now either been put aside or must be realised using the countries’ own resources, which, un-

fortunately, are scarce. But the issue needs a thorough examination of how it can be put back on the agenda of the EU and the region’s bilateral partners, both inside and outside the EU. The recent floods and climate challenges make it more and more urgent. ■ It seems like, despite geographical proximity and the large ethnic mi-

All the mistrust of previous decades, from communism; hard transitional years; war in Yugoslavia; sanctions; Hungary’s NATO membership; minority problems; interpretations of history – all traces are disappearing through our bilateral relations

WORLD MARKETS AND OPPORTUNITIES | HUNGARY

norities from each country living in the other, Serbia and Hungary do not cooperate to an extent proportional to their closeness. Do you agree and what do you think are the reasons? - I agree only partly. One can always work better, true, but something has started and we must not underestimate it. The Serbian government offered the Hungarian minority a place in its coalition, which we in Hungary have read as a message concerning bilateral relations. Hungary, for its part, uses every opportunity to support Serbia, and regards Serbia’s and Hungary’s interests as identical in many ways. An example: given the concept of collective minority rights, national identity and citizenship are identical in both countries, Hungary’s ruling coalition has sent a double citizen, resident in Serbia, to the European Parliament. You could say that to represent the interests of both countries in Brussels is to trust that those interests will never come into conflict again in future.

■ In recent years there has been dynamic communication between Serbian and Hungarian business leaders, but it often appears that results fail to reflect potential. What results are you expecting from the summit of Serbian and Hungarian senior economic representatives held on 1 July? - One of the main tasks facing the two governments is to create an atmosphere conducive to cooperation between companies. The business environment between our countries is in order as the most important regulating agreements and contracts have already been signed: the one to avoid double taxation, the one to protect investments and the one to foster economic cooperation. We have all the conditions and our companies, small and mediumsized ones first of all, have recognised the possibilities: their interest in investing or trading in Serbia has increased significantly as we gradually leave our economic crisis behind. The recent summit has given a clear signal to the actors in the economic scene that both governments are going to support their business initiatives, trade and investment plans. ■ In which areas do you see room to accelerate economic cooperation between the two countries within the framework of the Joint Economic Committee of Hungary and Serbia? - The Joint Economic Committee is an ideal forum for the development of cooperation, as the two sides discuss not only immediate business opportunities, but deal with the long-term visions for all sectors significant to the economy: energy; infrastructure; transport; environmental protection; agriculture and its prospects in a changing climate; cross-border cooperation both within and outside the framework of IPA funds; and tourism. It is vital that the people responsible for these economic sectors in both countries remain in contact so they can react to any challenges and opportunities. We are convinced that there is still huge potential for cooperation in these fields and the Joint Economic Committee is there to grab it! ■

INTERVIEW IMRE VARGA, SECRETARY OF THE HUNGARIAN-SERBIAN BUSINESS COUNCIL

Relations Never Better! Hungary and Serbia are developing good bilateral relations in all fields and an important role in this is primarily played by the Serbian and Hungarian national communities

“R

elations between the two countries, whether that relates to the level of the state, regions, or municipalities, or is about relations between NGOs or institutional relations of various cultural, educational and other organisations, haven’t been better in at least the last 20 or so years (practically since the start of the socio-economic transition of our countries). Of course, that did not happen overnight,” says Imre Varga, former Ambassador of Hungary to Serbia and current Secretary of the HungarianSerbian Business Council. ■ As someone who was the Hungarian ambassador to Serbia and is today engaged in promoting Serbian-Hungarian relations, how do you assess the quality of cooperation between our two countries? - We are destined to peaceful and mutually beneficial collaboration, considering the fact that we have

been neighbours for a thousand years and will remain so for at least that long again, I hope. An additional factor in improving our relations is the encouraging fact that Serbia has started official membership negotiations with the EU. The process of successful bilateral cooperation between the two countries is contributed to by previous and current political leaders of both countries, as well as numer-

Our main objective: to collect and spread as much specific information on economic and business opportunities in Serbia, which can help business decision makers among the ranks of our members ous representatives of social and economic life. I cannot and will not overlook the undeniably important role in this whole process that is played by the Hungarian and Serbian ethnic communities that live in our countries.

■ Tell us more about the HungarianSerbian Business Council and its activities? - The Business Council was established in 2007 by the largest Hungarian companies that export capital to the region, including to Serbia. These are also significant investors on the Serbian market, such as MOL Group, OTP Bank or such Hungarian business giants such as Telekom, Tri“POSLOVNI INKUBATOR SUBOTICA –SZABADKAI ÜZLETI INKUBÁTOR Granit, Bombardier, EY and – BUSINESS INCUBATOR SUBOTICA” doo Subotica others. We are a formal soMagnetna polja 6. 24000 Subotica; Tel: +381 24 544 044; Fax: +381 24 580 777 cial organisation with the Mail: office@bis-su.rs; Web: www.bis-su.rs; www.e-inkubator.rs aim of harmonising business

performances on the Serbian market. The Business Council is a kind of elite club with relatively few members. We are present at various business meetings and organise similar events ourselves. Our main objective: to collect and spread as much specific information on economic and business opportunities in Serbia, which can help business decision makers among the ranks of our members. Specifically, we believe that the biggest obstacle to more dynamic expansion of our economic relationship is a lack of information. We also want to attract as many new investors as possible to the Serbian market, which we consider very promising. Our motto: mutual benefits and advantages. ■ Who are the key partners of your association and in which ways do you cooperate with them? - Given the importance of the members to the Hungarian economy (they are on the list of the largest tax contributors, employers etc.), the Business Council is regularly present at interstate conferences related to economic cooperation. Of course, in addition to promoting our interests, we are also advocates of the broadest possible direct business links between economic actors from the two countries. There is still a lot to do in order to improve the current situation. We try to make in addition to good relations with Hungarian government structures, we are also striving to have good relations with representatives of the Serbian government’s leadership structures. We are open to all interested potential partners. ■

HUNGARY | WORLD MARKETS AND OPPORTUNITIES

HUNGARY: ECONOMY

Positive Trends Within the Real Economy The Hungarian economy was particularly hard hit by the global economic and financial crisis of 2008-09. Hungary was particularly vulnerable because of a fatal combination of the credit-based economic policy practised throughout the previous decade – which continuously increased both external and internal debt – and the economy’s weak growth potential and low employment levels

By MIHALY VARGA, Hungary’s Minister for National Economy

he government that took office in 2010 faced multiple challenges: it had to create both fiscal and financial stability, and set the economy onto a path of sustainable growth while simultaneously coping with an unfavourable global economic environment suffering from a prolonged fiscal-financial crisis. In a daring bid to avoid further economic recession and social tensions, the government applied a mix of both traditional and innovative measures in its economic policy. Initially, many were sceptical. But last year provided a sharp response to doubters and critics alike: 2013 was a trend-breaker for Hungary in almost every respect. Indeed, economic trends developed even better than

expected: in particular, the budget deficit is again stable at below 3 per cent of GDP, we have reduced public debt, and positive trends have also begun within the real economy, especially in the second half of the year. For example, in the third quarter of 2013, the Hungarian economy expanded by 1.8 per cent, well in excess of analysts’ expectations, while according to indicators on industrial output, retail sales, and construction, growth in the fourth quarter may have reached around 2.5 per cent. It has also become clear that this is built on a healthier economic struc-

In a daring bid to avoid further economic recession and social tensions, the government applied a mix of both traditional and innovative measures in its economic policy

WORLD MARKETS AND OPPORTUNITIES | HUNGARY

ture than previous recoveries – one that enables sustainability. I can also state that this growth is partly based on the expansion of manufacturing, and accordingly the level of investment increased in the third quarter – by some 10 per cent,

year on year – for the quarter. Perhaps even more significantly, practically all branches of the national economy contributed to this surge in recovery. As a result, employment levels hit a 21-year high. By the end of 2013, Hungary could boast more than 4m in work, a jump of 255,000 in employment since this government took office. Put another way, the employment rate has jumped by 3.7 percentage points, to 52.6 per cent, while the unemployment rate has dropped to below 10 per cent, ie significantly below the eurozone average of 12 per cent. Simultaneously, real wages have increased by 7 per cent (compared to 2010) thanks to a combination of low inflation and family benefits. It is on this solid foundation that we project economic growth for this year of 2 per cent. Returning to achievements in 2013, I must also mention that based on the improved economic performance, the EU lifted the excessive deficit procedure on Hungary. Considering that 16 of the 28 EU member states are still under EDP reviews, I think it is fair to say this was

clear and public recognition of the success our economic policy. In addition, we repaid our remaining debts to the International Monetary Fund – in advance – last August. As a result, we are no longer lagging, but rather are among the frontrunners with regard to prudent fiscal policy for the first time since Hungary joined the EU. In addition, the consumer price index is at an all-time low for the modern era, and the favourable effects of low inflation are already being felt. These results indicate the level of certainty we have achieved with regard to the stability of state finances, and prove that Hungary is capable of financing its own budget. In short, Hungary has proved it is capable of practising a new, independent and I must add, successful economic policy. As an acknowledgment, international institutions, along with both Hungarian and foreign market analysts, have upgraded their forecasts for Hungary’s economic growth. We believe both businesses and the general public need the economic system – including the tax regime and the central budget – to be stable and predictable. Only in such an environment can commercial enterprises plan and develop for the long term, and make well-founded decisions on new investments and creating new jobs. The economic section of the new Civil Code, which will come into force within the next few months, will make life significantly easier for businesses, helping to ensure success for foreign and domestic investors alike. In line with these principles, neither the budget nor the tax regulations for 2014 contain any unexpected elements. When developing the budget, we presumed a budget deficit of 2.9 per cent, inflation of 1.4 per cent and economic growth of 2 per cent – assumptions we feel are prudent. For commercial enterprises and investors, this means there is no change in either the philosophy underpinning the

tax system, nor in its practical application. In so doing, we feel our economic policy – through increased predictability – is actively contributing to a continued improvement in the conditions for growth. Still, people often ask how a state is capable of coming to the aid of business in such a rapidly changing global economic environment. Accordingly they often compare state financial management to that of corporations or families: but there are

We believe both businesses and the general public need the economic system – including the tax regime and the central budget – to be stable and predictable. Only in such an environment can commercial enterprises plan and develop for the long term

significant differences. One of the main objectives of our economic policy is precisely to create the opportunity for businesses and entrepreneurs to achieve success through careful planning, and being prepared for the many risks associated with today’s fast-changing business environment. Hence we feel a stable business environment, including tax and contributions policy, employment regulations and the system of benefits, is just as important as, for example, a

carefully crafted foreign policy. Of course, it is common knowledge that Hungary’s economy is closely linked to foreign markets, and so we must exploit the many opportunities already available to further contribute to economic development. But our foreign trade strategy, adopted last year, is based on the policy of “opening towards the east” while “retaining the west.” We have formulated this more inclusive, broader approach both to exploit previously unexplored opportunities and to ensure we become less dependent on certain countries or groups of states. Our goal, while retaining and possibly increasing the achievements already gained within the EU, is also to expand wherever possible in trade with countries that show high development potential. To conclude, overall, 2013 was

the year in which the Hungarian economic model revealed its first – and not inconsiderable – successes: a low budget deficit, record low inflation, a record low base lending rate and the beginning of sustained economic growth. Hungary has proved it is able to recover and stand on its own two feet, it has regained it financial sovereignty, and shown that its people are capable of achieving and maintaining economic growth in their homeland. ■ Source: Financial Times

HUNGARY | WORLD MARKETS AND OPPORTUNITIES

SERBIAN-HUNGARIAN ECONOMIC COOPERATION

Partnership at All Levels Economic cooperation between Serbia and Hungary, particularly goods exchange as its most important segment, has intensified in recent years. Since 2001 this trade exchange has increased fivefold, though there is still a deficit on our side and imports are two and a half times greater than exports

exports and imports, with the faster growth of imports. However, in 2009 there was a perceptible decline in mutual trade, with imports recovering more quickly in the last two years. In 2011 goods exchange worth $1,208.8 million was realised, with Serbian exports amounting to $352.6 million and growing by about 16 per cent compared to 2010. In 2012 Serbian exports recorded a decline of 5.42 per cent compared to 2011, with Serbian exports amounting to $333.5 million. At the same time, imports from Hungary in 2012 amounted to $810.1 million and recorded a decrease of 5.38 per cent. The volume of the exchange between Hungary and Serbia in 2012 ranks Hungary 10th in terms of foreign trade partners of Serbia on exports and 6th in terms of the value of imports. The movement of coverage of

ungary has been and remains a strategic partner of the Republic of Serbia in the political and economic sense, both at the bilateral level, due to the fact they share a border, and at the multilateral level, given its regulated status in relation to the most important political and economic groups and membership in numerous regional and sub-regional organisations. Economic cooperation between Serbia and Hungary, particularly goods exchange as its most important segment, has intensified in recent years. Since 2001 this trade exchange has increased fivefold, though there is still a deficit on the Serbian side and imports are two and a half times greater than exports. The movement of goods between Serbia and Hungary has varied in the last seven years. Until 2008, i.e. until the start of the global economic crisis, there was a growth tendency in both

The Serbian-Hungarian Chamber of Commerce was founded in 2009 and aims to encourage cooperation between enterprises on both sides of the border in all aspects

WORLD MARKETS AND OPPORTUNITIES | HUNGARY

imports by exports in the trade exchange with Hungary in 2011 was slightly over 41 per cent, while in the first six months of 2012 that coverage was only 29.8 per cent. Among the international agreements that are important to bilat-

eral economic cooperation are the implementation of the Agreement on Economic Cooperation (2005), the Agreement on Avoidance of Double Taxation (2002) and the Agreement on Encouragement and the Reciprocal Protection of Investments (2005). The Serbian-Hungarian Chamber of Commerce was founded in 2009 and aims to encourage cooperation between enterprises on both sides of the border in all aspects - in the areas of production, investments of Hungarian companies in Serbia and Serbian firms in Hungary, as well as a common appearances on the markets of other countries . This is how the need for businessmen in this European region to unite and support each other within common economic associations was explained in Subotica at the first presentation of the members of this newly formed association, which had only existed for about three weeks at the time. The founders of this chamber are the Budapest Chamber of Commerce, the counties of Csongrád and BačKiškun and the Regional Chamber of Commerce of Subotica, as well as around 20 large companies from Vojvodina and Hungary - “Fornetti” MOL, CBA, Eksimbank and others. The meeting in Subotica was organised as one of the concrete steps for encouraging economic cooperation between the two countries ahead

Leading SITC sectors in exporting to Hungary

10%

Road vehicles

Non-ferrous metal

Plastics in primary forms

Power generating machinery and equipment Sugar, sugar-based products and honey

38%

12% 15%

Leading SITC sectors in importing from Hungary

Electricity

Iron and steel

Crude oil and oil derivatives

10%

Plastics in nonprimary forms

22%

49%

17%

12%

Mineral ores and scrap metal

Other

of the visit of then Serbian Prime Minister Mirko Cvetković and a group of businessmen to Budapest. The predecessor of the Association, the Hungarian-Serbian department of the Hungarian Chamber of Commerce and Industry, was founded in 2001 with the help of the Trade and Industry Chamber of the County of Csongrád. The Serbian-Hungarian Chamber of Commerce was founded in Kecskemet, Hungary, and is based in Szeged, with a representative office envisaged in Subotica. In addition to developing cooperation in almost all areas of the economy except agriculture and services, this chamber’s programme includes assistance for members of the Chamber from Hungarian enterprises in Serbia to receive help from EU funds, especially through forms of cross-border cooperation. The Regional Chamber of Commerce of Subotica and the Chamber of the County of Csongrád and Kecskemet are currently implementing three cross-border IPA projects which are financed from EU funds with €300,000. They are related to

Other

the education of entrepreneurs regarding economic conditions in the European Union, legal regulations of economic cooperation with Serbia and Hungary and the creation of an electronic network of data on SMEs on both sides of the border. The Hungary - Serbia IPA Crossborder Programme belongs to the “new generation” of cross-border pro-

In the past eight years organisations from Serbia and Hungary have participated in 183 crossborder cooperation projects, financed by €34.3 million from IPA funds grammes in the budget for the period between 2007 and 2013. As the participating countries, Hungary and Serbia have established a shared management system for the programme. Cross-border cooperation between the two countries began in 2003, under the auspices of the preparatory fund for small projects between Hungary and Serbia (PSPF - Pilot Small Projects Fund), according to the Phare National Programme for Hungary. The preliminary fund for small projects

Trade exchange between Serbia and Hungary, in million USD 1000 800 600 400 200 0 -200 -400 -600

was aimed at supporting people-topeople activities and helping institution building projects for non-profit organisations along the border between Hungary and Serbia, as well as preparing potential users of future funding from the INTERREG programme of interregional cooperation. In the past eight years organisations from Serbia and Hungary have participated in 183 cross-border cooperation projects, which have been financed by €34.3 million from IPA funds. ■ Leading exporters: LBK Livnica, Kikinda – 8.56% Alumil YU Industry, Novi Pazar – 4.63% RTB Invest, Bor – 4.23% EFT Trade, New Belgrade – 3.9% Sunoko, Novi Sad – 3.81%

Leading importers: Mol Srbija, Belgrade – 13.95% Porsche , Belgrade – 6,56% OMV Serbia, Belgrade – 5.4% Naftachem, Novi Sad – 3.58% Speed, New Belgrade – 3.31% Sirmium Steel, S. NIS, Novi Sad – 3.37% Mitrovica – 2.45% Ball Packaging, Zemun NIS, Novi Sad – – 3.3% 2.22% Knott –Autoflex, Bečej Evolucija 2004, New – 3.18% Belgrade – 2.19% Hip - Petrohemija, Fiat Automobili Serbia, Pančevo – 2.93% Kragujevac – 2.02% PLC Interenergo, Železara, Smederevo Belgrade – 2.92% – 1.7%

Export to import ratio, in %

52.10

50.06 40.35 40

41.18

42.55 34.45

37.55

39.05

41.16

2005

2006 2007 2008 2009 2010 2011 2012 2013-VII

Export in USD

Import in USD

Balance in USD

0 2005 2006 2007 2008 2009 2010 2011 2012 2013-VII

HUNGARY | WORLD MARKETS AND OPPORTUNITIES

HUNGARIAN CULTURE

Travelling Through Centuries Within the often changing borders of Hungary during its history, fine arts developed in strong interaction with European art and although they always reflected European tendencies, these artists retained a strong character of their own

and the largest Early Christian Necropolis outside Italy is in Pécs.

GREAT SYNAGOGUE IN BUDAPEST

ungary is well known and beloved for its architecture and cultural heritage. Visitors may find themselves several hundred years back in the past, standing on a single street corner or visiting one of Hungary’s most admired sites. In Hungary you can find roman ruins, gothic churches, centennial houses and modern buildings, all next to each other. Within the often changing borders of Hungary during its history, fine arts developed in strong interaction with European art and although they always reflected European tendencies, these artists retained a strong character of their own. Beside Hungarian architecture, many foreign cultures and religions are represented throughout the country. For example, Europe’s largest synagogue is the Great Synagogue in Budapest, the Széchenyi Medicinal Bath is the largest medicinal bath in Europe, one of the largest basilicas in Europe is the Esztergom Basilica, the second largest territorial abbey in the world is the Pannonhalma Archabbey

ROMAN RUINS The Aquincum HÉV urban railway station on the route to Szentendre is named after the ancient capital of the Roman province of Pannonia Inferior. Extensive remains of this garrison town can still be seen even today, including two amphitheatres, an aq-

Franz Liszt is probably the greatest of all Hungarian musicians: a piano virtuoso as well as a composer, he inspired forwardlooking contemporaries and predicted some future ideas and trends

WORLD MARKETS AND OPPORTUNITIES | HUNGARY

ueduct and the Roman baths, where there is now an outdoor bathing complex. Outside Budapest, the tombs at Pécs are a rare example of early Christianity beyond Rome itself. When the Hungarian Christian state was founded by Szent István in 1000AD, a host of Romanesque churches, cathedrals and fortresses sprang up. Very little remains today, but Romanesque relics can be observed in parts of the Esztergom Castle. The most celebrated complete buildings are the abbey churches of Ják, near Sopron, and Bélapátfalva north of Eger.

ARCHITECTURE The Renaissance movement was initially brought to Hungary by King Mátyás’s Italian wife and can be seen in the remains of the Visegrád Palace and the castle at Sárospatak in northeast Hungary. Baroque was the dominant architectural style during the economic boom under Empress Maria Theresia, whose legacy includes the stately palaces of Fertod, Keszthely and Gödöllo, as well as numerous churches scattered all over Hungary. Following the floods of 1838, when many buildings in District V were washed away, the area was largely redeveloped in the classicist style. A little further from the city centre, the National Museum is a powerful and attractive display of huge Romanstyle columns at their most impressive. The prosperous period of the late 19th century and just prior to World War I brought a boom in the construction industry and a number of former styles were resurrected. The Parliament is typically Gothic, but with a Renaissance dome, while a stroll down Andrássy út reveals buildings shamelessly combining Renaissance and Baroque elements. Hungarians had a major hand in Walter Gropius’ Bauhaus movement in Weimar, helping spread its principles of design

FRANZ LISZT

and architecture all over Europe and America after 1933. Some returned to Hungary to build prominent villas in the Buda hills and the simple but beautiful Városmajor Church in the park behind Moszkva tér. LITERATURE Latin was Hungary’s literary language until the 19th century. The Funeral Oration (c.1230) is the oldest surviving work in Magyar, while some 14th and 15th century chronicles also exist. The Reformation prompted various translations of the Bible. Poets Bálint Balassa (late 16th century) and Miklós Zrinyi and István Gyöngyössi (17th century) were succeeded in the 18th century by Vitéz Mihály Csokonai and Ferenc Faludi. In the last quarter of that century, Hungarian literature was given a new lease of life with the works of György Bessenyei, while Ferenc Kazinczy led the reform of the Hungarian language. The establishment of a national theatre and the 1825 founding of the Hungarian Academy of Science assured the development of the national literature. The leading literary figures in the 19th century were poets Károly Kisfaludy (also a noted dramatist), his brother Sándor, János Arany, Mihály Vörösmarty and Sándor Petőfi, as well as the novelist Mór Jókai. Endre Ady and Attila József were the country’s outstanding poets of the early 20th century, while dramatists Ferenc Herczeg and Ferenc Molnár also achieved international acclaim.

Between the two world wars, novelists were divided into three groups—the Horthy regime defenders; the Populists, who sought improvement of the peasants’ lot; and the Communists. The most eminent Populist was László Németh. After World War II Hungarian literature fell under Soviet influence and the Communist party exercised rigid control over writing and publishing. Writers who adhered to the Soviet doctrine of socialist realism included the poet György Somlyó and prose writers Géza Hegedűs and József Darvas. Diverging from this doctrine were poets László Mécs, whose works were only published outside Hungary, and Gyorgy Faludy, who was imprisoned for three years before fleeing the country, and the novelist Tibor Déry, who was also imprisoned for his nonconformity. The revolt of October 1956, whose participants included a number of prominent writers, was followed by a

Popular music is featured at numerous festivals across the country – first and foremost the Sziget Festival (www.sziget.hu), dubbed one of Europe's best major festivals gradual easing of censorship. Censorship finally ended with the collapse of the Communist regime. MUSIC Hungary has undoubtedly made some important contributions in the field of classical music. Franz Liszt is probably the greatest of all Hungarian

VISEGRÁD CASTLE

composers. A piano virtuoso (he was a sort of rock star of his age – his contemporaries lauded him as the greatest pianist of all time) as well as a composer, he inspired forward-looking contemporaries and even predicted some ideas and trends that would only come to the fore in the 20th century. Head to the Franz Liszt Memorial Museum and Research Centre to find out more about him (www.lisztmuseum.hu). The beginning of the 20th century brought two more exceptional characters: Béla Bartók and Zoltán Kodály, who both set out to collect Hungarian folk songs all over the Carpathian Basin and incorporate them into their music. FOLK MUSIC What about folk music? In the years of communism folk culture was seen as a deviation from the mainstream ideology and was thus marginalised, so over the last decades of socialist rule the folk movement emerged as a form of resistance. Today there are a vast number of great folk bands and dance companies. Márta Sebestyén is the name that probably first comes to mind – this former student of Mr Kodály is practically the embodiment of Hungarian folk music today, performing sold-out concerts all over the world. For the whole folk-band experience, however, book a ticket for one of the performances of the Csík Band or Ghymes Popular music is featured at numerous festivals across the country. First and foremost the Sziget Festival (www.sziget.hu), dubbed one of Europe’s best major festivals. ■

VITÉZ MIHÁLY CSOKONAI

HUNGARY | WORLD MARKETS AND OPPORTUNITIES

SERBS IN HUNGARY

Migration, Flourishing, Disappearance, Return The number of Serbs in Pest and Buda increased with resettlement following the liberation of Hungary from Turkish authority. Opportunities for material gain and cultural development were more favourable than in their home country, where the successful struggle for liberation from the Turks only began 120 years later

”A

nd in the year 1690 Arsenije III Čarnojević, Serbian Patriarch, in response to an invitation from emperor Leopold I, caused rebellion in the nation against the Turks and in one trip led a migration into Hungarian of 37,000 families, and the Serbs settled even as far as greater Buda. In 1737 Patriarch Arsenije IV Jovanović, responding to a call from emperor Charles VI, again called on the Serbian people to flee to Hungary, but the Turks noticed early, killing and enslaving more people than found refuge with him on this side (the patriarch himself said that in Karlovac he had dreamt on Christmas eve how God had sought an answer from him for the 80,000 souls who perished for him!).“ (Vuk Karadzic Depiction of the nation - Review of old history)

BUDAPEST

Thus begins the first description of the arrival of the Serbs on the territory of present-day Hungary. Today there are just over 10,000 Serbs in Hungary (according to the 2011 census), but once upon a time it was completely different. The Serbian minority was the quickest to integrate into the former great empire, and both Buda and Pest were centres for preserving our country’s culture and intelligence at a time when Serbia was under Ottoman occupation. Historian Istvan Poth wrote in his work “Pest and Buda as the Cultural Centre of Serbia in the First Half of the 19th Century” (1882) that the

Historian Istvan Poth wrote that the number of Serbs in Pest and Buda increased with people settling after the liberation of Hungary from Turkish authority

WORLD MARKETS AND OPPORTUNITIES | HUNGARY

number of Serbs in Pest and Buda increased with people settling after the liberation of Hungary from Turkish authority. Opportunities for material and cultural development were more favourable than in their home country, where the successful struggle for liberation from the Turks only began 120 years later and where that struggle lasted longer. Serbs in

what was a strange environment for them lived mostly in the boundaries of Serbian-Orthodox municipalities. This primarily applied to the Buda suburb of Taban, where the civilian council was also in Serb hands, based on privileges received from Vienna. Serbs were represented in the city council of Buda and Pest by one senator, “ratsher”, as Sava Tekelija wrote. The most famous of these senators was writer Jovan Muškatirović, who wrote his works in Serbian, Hungarian and Latin. Serbs also played an important role in economic life. We know, for example, about the privileges awarded back in 1695 to the Serbian butchers’ guild, the tailors and quilt makers guilds. The guild rules for Serbian hat makers were confirmed in 1696, while from 1697 there was also a guild of Serbian furriers. There is also a preserved list of Buda’s master tradesmen, merchants and shopkeepers from 1719. In 1746 the Serbian parish in Buda, for example, passed academic regulations that corresponded to the spirit of the then pedagogical principles. There was a Serbian school in Buda in the 18th century which – on the basis of available data for 1730, 1734 and 1770 – had around 60 stu-

dents. A Serbian school operated in Pest in the late 17th century and, according to data from 1770 and 1827, it was attended by approximately 30 students. Pest’s Serbian School was expanded in 1808 to include a third grade and from there, in addition to “spelling books” and “thesauruses”, they also learned “orthography”, which they already had lessons in from Latin. The most renowned and most important Serbian teacher in Pest was certainly Vuk Karadžić’s associate Luka Milovanov. In favourable economic conditions in Pest and Buda, Serbs also developed their social life. Writing about the Serbian dances that were organised at the time of the carnival in 1786, Sava Tekelija noted: “At that time the balls of Serbs were held on Saturday ‘at the Crown’ in Taban, on Sunday in the city, on Monday in Pest at ‘7 kurfiršta’, where it was more dangerous to life than navigating between two ice bergs... on Tuesday the ball at ‘the White Cross’, in Wasserstadt, on Wednesday again in Pest (!) at Haker’s Hall, on Thursday in the city... “ In the first decades of the last century Serbs would gather on Saint Ilija’s Day in the free space around the well with rich and clear water, which bore the name of the celebrated saint and here they would enjoy themselves and have fun. The fountain of St. Elijah was located in the former Orczy gardens in today’s VIII district of Budapest. Its clean water was vital to the residents of Pest at the time when there was no municipal water supply system. Although Buda had the largest Serbian settlements in the 18th century, there is not much information about the life of Serbs in Buda. According to some data, we can conclude that vibrant cultural activity developed here. Thus, for example, Buda was home to Jovan Damjanović, who embarked on a pilgrimage to Jerusalem in around 1728 and wrote about that with a lot of autobiographical elements. Famous painter Mihajlo Živković was born in Buda in 1776. He studied at

the Academy of Fine Arts in Vienna and after completing his art studies began painting icons for Serbian citizens in Buda, Pest, Szentendre and other places. In 1802 he was entrusted with the painting of the iconostasis of the Szentendre Annunciation Church. Later Živković painted his second and last iconostasis at the Nikolaevskaya Church in Balassagyarmat. Dinko Davidov, author of the book ‘Icons of Serbian churches in Hungary,’ writes: “...the religious

ARSENIJE III ČARNOJEVIĆ, SERBIAN PATRIARCH LED A MIGRATION INTO HUNGARY (PAJA JOVANOVIĆ)

In 1910 some 26,248 people were listed as speaking the Serbian language on the territory of Hungary, only for this number to reach only around 2000 in the year 1990, while the 2011 census showed that the number of Serbs in Hungary had increased again, to more than 10,000 compositions of Serbian painters from Buda, both the one in the Szentendre Annunciation Church and the one in the Nikolaevskaya Church in Balassagyarmat, represent valuable and indispensable works of more contemporary Serbian art...” “The Buda folk lived among the Hungarians, in their capital city, and the closest to Vienna, the first of the Serbs learned Hungarian and German, the first on their skin to feel the

ways of ‘lordly living’, and among the Serbs they were definitely the most affluent and cultured, and the first to succeed in becoming citizens...” wrote Dušan J. Popović illustrating the Serbs of Buda. However, according to other sources, the same could be said of Serbs from Pest and Szentendre and other Hungarian cities. In the 18th and early 19th centuries the Serbs who lived in Hungary considered this country as their homeland. Returning from Russia, Sava Tekelija wrote: “In Újhely [Satoraljaujhely] I was delighted at the market that I had come into my own country; there I saw white bread at the market, there bacon, there cakes and I thought: blessed country of mine! “ In the census of 1910 some 26,248 people were listed as speaking the Serbian language on the territory of Hungary. This number constantly fell in the censuses that followed until finally reaching only around 2000 in the year 1990. The number of people declaring themselves as ethnic Serbs in Hungary’s 2001 population census was 3,388. To the general surprise of all, the 2011 census, the results of which were only published in 2013, showed that the number of Serbs in Hungary had increased again, to more than 10,000. This increase was interpreted at the time of the results’ publication by Ljubomir Alexov, president of the SelfGovernment of Serbs in Hungary, who said: “We must bear in mind that such favourable results of the census were influenced significantly by the migration process, which has been present in the last fifteen years from Serbia and other former Yugoslav republics. Those compatriots of ours have mainly settled in major cities, which is why, for example, an increasing number of Serbs is highly evident in Budapest and Szeged, but also in Kecskemet, which is a novelty for us when it comes to the existence of the Serbian community. The situation is also similar in some other major towns. We now have the task of finding those Serbs and trying to involve them in the life of our community. “ ■

HUNGARY | WORLD MARKETS AND OPPORTUNITIES

INTERVIEW JELENA KENIĆ, COUNTRY MANAGER, GEDEON RICHTER IN SERBIA

Delivering Quality Therapy Through Generations Richter’s management is convinced that the pursuit of innovation and creativity is the essential for competitiveness in the pharmaceutical industry and in this regard the company has made a strategic decision to develop and produce biotech medicines among the ranks of the most important pharmaceutical research bases in Central and Eastern Europe, with national and international awards testifying to the company’s successful innovative activities. Bearing in mind that today about 40 - 45 per cent of newly registered drugs are biological or biotechnological molecules, it is clear that biotechnology is one of the crucial areas for the progress and future of the pharmaceutical industry. Richter’s management is convinced that the pursuit of innovation and creativity is the essential condition for competitiveness in the pharmaceutical industry and in this regard the company has made a strategic decision to develop and produce biotech medicines. In addition to the research centre and laboratory in Budapest, a

edeon Richter, a multinational pan-European specialised pharmaceutical company, was founded in Hungary in 1901. During its continuous 113-year long tradition, the company has been constantly committed to quality and innovation. “More than two hundred Richter brand products are available in over 100 countries through our own distribution network,” says dr. Jelena Kenić, country manager at Gedeon Richter in Serbia: “The company has a direct presence in 38 countries with five manufacturing locations, 29 representative offices and 27 commercial subsidiaries. “Opening of the Representative Office in Belgrade in 2007 resulted in the intensification of marketing activities and continuous expansion of the portfolio on this market, in order to provide the general and professional public with quality therapy at affordable prices.” ■ The company is known worldwide for its pharmaceutical research and is one of the regional leaders in this respect. - Innovation and research of original molecules have been key elements of the company’s strategy since its inception. The Gedeon Richter research team now has a staff of 1,000 people, while 11% of annual turnover is invested in research, innovation and development, which are key strategies for the future of the company. Thanks to this fact, Gedeon Richter is

Gedeon Richter in Serbia, as part of a large multinational company, has a portfolio on the domestic market that covers a wide range of pharmacological-therapeutic areas

WORLD MARKETS AND OPPORTUNITIES | HUNGARY

state of the art facility was opened in Debrecen in 2012 that is of great importance to the regional economy. It produces recombinant proteins that the company intends to present to the market in several therapeutic areas in the near future. ■ Which pharmaceutical product segments does Gedeon Richter offer on the market Serbia? - With its original, generic and licensed drugs, the company strives

to provide effective and affordable treatment. Gedeon Richter in Serbia, as part of a large multinational company, has a portfolio on the domestic market that covers a wide range of pharmacologicaltherapeutic areas, such as gynaecology, cardiovascular systems, CNS, and, as the only manufacturer of emergency contraception, makes a significant contribution to educating health professionals and the general public. We are well known to professionals and patients mainly due to our reputation as a reliable partner when it comes to caring about the health of women and one of the few companies in the world with a full range of gynaecological products. We strengthened our prominent position in this area with the successful acquisition of Swiss company PregLem, which is dedicated to the development of a new class of drugs for the treatment of benign gynaecological conditions, so we can proudly say that we offer the Serbian market a product that represents the latest achievements in the area of the medical approach to the treatment of uterine myomas. ■ In which direction will your activities continue on the Serbian market? - Through our operating in Serbia, the confidence of those who decide on effective, modern and affordable treatment offered by Richter Gedeon, we will continue to justify, in order to achieve our global mission - providing of quality therapy at affordable prices to all those who need it. ■

TOURISM IN HUNGARY

BUDAPEST

Romance of Central Europe Despite having no seaside, Hungary is an extremely popular tourist destination, especially among Western tourists, particularly due to its thermal springs and numerous spas

ungary, the Central European country in our neighbourhood, borders, apart from Serbia, Romania, Austria, Slovakia, Ukraine, Croatia and Slovenia. Despite having no seaside, Hungary is an extremely popular tourist destination, especially among Western tourists, particularly due to its thermal springs and numerous spas. BUDAPEST Fisherman’s bastion (Halászbástya) is named after the great fish market that existed on this site in the Middle Ages. Although it has the appearance of a medieval fortress, it was only built in 1902 as an addition to the architectural whole of Matthias Church. Given that the tower offers a fantastic view of the whole of Budapest, and because it is located near

other historical buildings of old Buda, this is one of the most attractive tourist spots in the city. The Chain Bridge (Széchenyi Lánchíd) offers one of the most beautiful views of the Danube at night. Built over seven years, it was

Around 20 kilometres from Budapest is a small town famous for its numerous galleries, museums and memorial collections. In the 16th century Szentendre was also the centre for Serbs who settled in Hungary

finally opened in 1849 and named after Count István Széchenyi, who initiated construction twenty years earlier, when a severe winter meant the bridges were closed and he could not cross the Danube and, as a result, he arrived a week late in Vienna, where his father had died. GYULA SPA Gyula spa, with its 10 pools, represents a healing spa resort which helps in the treatment of rheumatism,

HORTOBÁGY NATIONAL PARK

HUNGARY | WORLD MARKETS AND OPPORTUNITIES

SZENTENDRE

sciatica and various injuries. The city of the same name where the spa is located is known for being the centre of the Romanian national minority. The city is located in southeast Hungary near the Romanian border. Gyula Spa is located near the left tributary of the River Tisza at White Karas. The spa’s architecture is typical Pannonian, with bungalows, bright colours and antique palaces with slightly kitsch façades. The town is decorated with church towers (8 in total), famous medieval red brick towers and Gyula Fortress. With its 10 pools, this spa resort helps in the treatment of rheumatism, sciatica and various injuries. And alongside the indoor part, which is used primarily for treatments, this widely renowned spa also has outdoor swimming pools designed for recreational users, athletes and tourists in general.

park is widely renowned bridge with nine holes. It provides the habitat for many species of mammals, but also a large number of birds (as many as 342 species). Declared a national park in 1973, it is also specific for becoming the first national park in the country. SZENTENDRE Around 20 kilometres from the Hungarian capital is situated a small town famous for its numerous galleries, museums and memorial collections. Interestingly, in the 16th century Szentendre was also the central settlement for Serbs who had fled to Hungary. And today, among other things, Szentendre is home to the seat of the Buda Diocese of the Serbian Orthodox Church. According to a folk tale, Serbian Patriarch Arsenije Čarnojević rested at the “Old water” spring located near the town. There are a total of seven churches, four of which belong to the Serbian Orthodox Church: Požarevačka, Trans-

The steppe area in the east of the country has been turned into the Hortobágy National Park, which stretches over a territory of almost 800km² through an area of wilderness (Hungarian Puszta)

HORTOBÁGY NATIONAL PARK The steppe area in the east of the country has been turned into the Hortobágy National Park, which stretches over a territory of almost 800km² through an area of wilderness (Hungarian Puszta), the steppe area in Eastern Hungary that is rich with folklore and culture. Hortobágy National Park is part of the Hungarian Great Plain (Alföld), which is the largest protected area in Hungary and the largest grassed area in Europe. The biggest attraction of this WORLD MARKETS AND OPPORTUNITIES | HUNGARY

figuration, Episcopal (i.e. Belgrade Cathedral) and the Annunciation. A large number of surviving icons and other religious objects are kept in the “Serbian Orthodox Museum”. One must-see museum here is the “Museum of Marzipan”.

HARKÁNY SPA This unique European Spa is located just 250 kilometres from Belgrade. This world famous bathing resort and health spa has existed since 1823. A known source of sulphurous mineral water, rich in minerals, it helps in the treatment and prevention of chronic gynaecological diseases, vascular diseases and osteoporosis. LAKE BALATON Hungary’s Lake Balaton is one of the largest lakes in Central Europe. Located 120km southwest of Budapest, it extends diagonally from the capital. It is assumed that the name is derived from the Slavic word mud (blato), and the descriptive name of the lake, Muddy Lake, testifies to this. During the period of the Roman Empire it was known as Shallow Lake. The largest inflow to the lake comes from the River Zala, while its only outflow is the Sió artificial channel. The lake is situated 104 metres above sea level. It covers an area of 592km2 and has a length of 77km and a width ranging from 4 to 14 km. The maximum depth of the lake 12.2m and its average depth is 3.3m. The entire shoreline of Lake Balaton is good for winegrowing, which is why this part of Hungary is among the most important when it comes to wineries. On the north side of the lake are the most famous wineries, Copake-Fured and Tiffany, where the country’s most famous Franciscan wine is produced. MÓRAHALOM Located near the town of Sze-

LAKE BALATON

SZEGED

ged, 20 kilometres from the Serbian border, is Mórahalom. This town’s Erzsébet (Elizabeth) Spa consists of 13 pools and also offers tourists wellness services throughout the year. Treatment at this spa is offered to those suffering from rheumatism, various gynaecological diseases and injuries, especially related to the spine. Additionally, tourists can also enjoy a great time and the spa complex includes a restaurant-tavern.

SZEGED Szeged’s Aquapolis is one of the biggest bathing complexes in Europe and can accommodate up to 3000 swimmers. It includes entertainment and wellness programmes for all ages, indoor and outdoor pools covering a total area of 4400m² and the largest water slide in Europe (30 metres high and 272 metres long), which is open throughout the year. Aquapolis contains saunas, massage rooms, “Silent Wellness” (relaxation zone for over 16s with the following services: swimming pool for

Aquapolis in Szeged is one of the biggest bathing complexes in Europe and can accommodate up to 3000 swimmers. It includes entertainment and wellness programmes for all ages fun and bubble bath, Finnish sauna, infra sauna, steam chamber, salt chamber, tepidarium, aroma room, outdoor sauna, usage possibilities for

3 hours per day and WIFI internet), a children’s pool, “baby world”, steam cabin, salt cabin and aroma cabin. All Aquapolis contents can be used free of charge during the day for hotel guests. In the new treatment wing, specialist doctors await guests who come for rheumatologic, physiotherapy and rehabilitation check-ups. Within the facility are 14 double rooms where care is provided in a day-care hospital complex and guests can rest and recover in a cultured environment. On two levels of the treatment building are rooms for individual exercise, physiotherapy, treatment with underwater jets, bathing with carbon dioxide, baths with mineral water, spaces for treatment with healing mud, group underwater exercises, swimming with weights, massage rooms and training halls. It is perhaps not so well known that scientists from this city’s Institute for Biological Research produced the world’s first artificial genetic material in the year 2000. ■

MiniPani Ltd., as a major 2002 production investment from Hungary in Serbia’s agro-processing industry, produces, stores and distributes deep frozen puff pastries within the franchise system, which was established for baking pastry products in the sales area of the Franchisee. As a Franchisor, for 12 years we have successfully applied our franchise strategy that meets all the requirements of the Code of Ethics for Franchising, we have an important mission and vision for the territory of the Western Balkans. We intensively develop MiniPani products with added value, which are the result of our own knowledge. A careful selection of raw materials, the highest level of quality control and compliance with food safety standards, together with the high level of expertise of our employees, results in products of impeccable quality that can be measured alongside the products of the world's leading bakery companies. Our products are placed on the market under its own trademarked brand name MiniPani. MiniPani exports the know-how of its franchise business and seeks Master partners in the narrower and wider region. HUNGARY | WORLD MARKETS AND OPPORTUNITIES

MINICITY

City of Children’s

CREATIVITY

Minicity has been created with the goal of parents spending their spare time with their children in a carefully considered and creative way. This is not a playhouse or a place where parents can leave their kids under supervision and simply leave. The bottom line of this concept is spending quality time together

acquainted with various professions, the widest channel of communication inicity is a small town rest in the Relaxation Room, create in with children, while offering children which comprises 25 the Creative Workshop or have healthy an opportunity to more easily underinteresting segments snacks. All activities take place in a fun, where children can get stand cause and effect, as well as the immaculately clean, well lit and wellacquainted with differconnection between everyday life, and ventilated area. At capacity, Minicity developing each child’s imagination, ent professions. This one-of-a-kind facan accommodate up to 500 individuals curiosity and initiative. This is a practicility, located on the fourth floor of the (parents and children) at any one time. Beograđanka building, is in downtown cal method of teaching children about Minicity has been created with the Belgrade. This is not a classic playhouse, the importance of teamwork, reaching goal of parents spending their spare as many believe. agreement and role play, as well as taktime with their children in a carefully This is rather an interactive theme ing responsibility.” considered and creative way. This is park for children and a place where chilThrough the joy of socialising and not a playhouse or a place where parexchange, children make new friends dren learn through play and socialising. and develop respect towards each other, “The basic idea is to bring children ents can leave their kids under superregardless of the differences between aged from 3 to 12 as close as possible vision and simply leave. The bottom them. In accordance with their needs to real life situations through a fun apline of this concept is spending quality and interests, children are involved in time together. proach to familiarisation with various different activities at various exhibition Speaking about the advantages of professions”, says Zorana Spasojević, rooms in Minicity. Creative Director of Minicity, speakThey play the roles of fire fighters, ing for CorD. “At the same time, chilActivities at Minicity introduce traffic officers, ballet dancers, chefs, dren are expressing their creativity, children to the endless doctors, car mechanics, construction demonstrating their interests, finding out new things about the world they possibilities of the world we workers, fashion designers, pilots, clerks, bakers…. live in and developing and improving live in, as well as inspiring Last month Minicity announced their social skills through close interfeelings of success, positive the winners of the “What will I be action with other children.” values and self-confidence when I grow up?” art competition. The Minicity spans 1,900 square mewinner was 11-year-old Vuk Vesković, tres and here children are given the a future detective from Obrenovac, folthis concept, Zorana says: “The nuopportunity to try their hand at over 50 professions in 25 segments, which merous activities we offer stimulate lowed by Maja Trifunović (age 7), a chef is an unforgettable and fun experience children’s psychological and social defrom Obrenovac, Andrija Knežević (age provided for them with the help of 6), a car engineer from Belgrade, and velopment in an informal and fun envistaff. The activities are tailored to the Filip Ralević (age 4), a potential future ronment, encouraging the acquiring of each of age group and children can get fire fighter from Belgrade. ■ knowledge and skills through play as cordeditorial@cma.rs |

117 July 2014 | 71

EXIT 2014

Where Hedonism Meets

ACTIVISM With 2014 seeing EXIT Festival celebrate its 15th year, a special edition of EXIT Festival, named EXIT ADVENTURE, is being organised and when EXIT finishes we will all move to Jaz Beach in Budva, Montenegro for the SEA DANCE FESTIVAL

rammy award winner Damon Albarn, best known as the frontman of Blur and co-creator of Gorillaz, will be among the many artists to play at Serbiaâ&#x20AC;&#x2122;s EXIT music festival. The 15th edition of this European festival is dubbed with the slogan EXIT Adventure, which first takes music fans to EXIT Festival, held from 10th to 13th July 2014 at Petrovaradin Fortress in Novi Sad, and continues at the Sea Dance Festival, held from 15th to 17th July at Jaz Beach in Budva, Montenegro. Among confirmed acts for EXIT Festival are Hurts, Jamiroquai, Suede, Disclosure LIVE, Rudimental LIVE, Skrillex LIVE, Carl Craig vs. Green Velvet, Dub FX, Dusky vs. Paul Woolford, and Koven LIVE. The opening ceremony of the 15th edition of this legendary 72 |

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festival will be marked by the Pet Shop Boys, who are coming to EXITâ&#x20AC;&#x2122;s Main Stage with a blend of unique stage sets, lasers, extraordinary costumes, original dance choreography and many hit songs. With 2014 seeing EXIT Festival celebrate its 15th year, a special edition of EXIT Festival, named EXIT ADVENTURE, is being organised and when EXIT finishes we will all move to Budva in Montenegro for the SEA DANCE FESTIVAL. It will be held at one of the most beautiful beaches on the Adriatic coast, Jaz Beach. Here you will find plenty of different sand and pebble beaches, swimming pools and, of course, plenty of bars, restaurants and little shops. The Main stage will be at Jaz Beach, while a small stage will be nearby in the old town of Budva. The main music, as you can

AFROJACK

RUDIMENTAL

GLORIA GAYNOR

in general. A special tribute is being paid workshops will take place at the festivals, recognise in the name, is Dance music. to the brilliant Tesla, one of the greatwith mentors giving free lectures on varThe EXIT Village will also be moved to Jaz Beach, including all the facilities. If you est scientists and inventors of all time, ious topics, including how to create/proprefer to stay in a room or hostel, check whose name is to feature on the name of duce electronic music. our accommodation offers in Budva. the festival’s main stage, as well as the The leading European eco-conferPerhaps you are wondering how to Tesla Corner, named after the famous ence, Go Group, in cooperation with the get from Novi Sad to Budva? EXIT will arTesla Corner in New York City, where visiEuropean Festival Association, will alrange transfers to Budva, but what will tors will have the opportunity to interact so be held alongside a large number of be very nice is to take the most socially responsible campaigns beautiful train ride in Eastern Among the confirmed acts for EXIT created during the festival, and Europe from Belgrade to Bar whose results will come to life Festival are Hurts, Jamiroquai, in Montenegro. It will take you during the next edition of the Suede, Disclosure LIVE, Rudimental festival. around half a day, but you’ll have LIVE, Skrillex LIVE, Carl Craig vs. a magnificent and unforgettaOther projects EXIT is inGreen Velvet, Dub FX, Dusky vs. ble view. From Bar you can easily volved with include promoting catch a bus to Budva. positive role models for young Paul Woolford, and Koven LIVE As well as music, EXIT never people in the region and highforgets its beginnings and aims to evowith various experiments. lighting the many young, talented, creaThrough a series of public discuslutionise the revolution it started more tive people who work hard every day to than a decade ago with several key topgenerate positive change in their own life sions, media articles, workshops and lecand their community. Exit has donated ics to improve the initiative, engagement tures by successful start-ups, Exit is enhundreds of free tickets to the best stuand development of young people. EXIT couraging young people to take their is the only music festival to be created as destiny into their own hands and launch dents, youth activists, young artists and an effect of youth activism and aims to their own start-up businesses. Several young humanitarian workers. ■ continue to mobilise public opinion and thought leaders in the field of youth deEXIT IN NUMBERS velopment on a regional and global level. • More than 2,400,000 fans went through the gates of EXIT from On the opening day of the festival and 2000 to 2014. the birthday of Nikola Tesla, one of the • 18.96 km is the average distance a visitor walks during the four days greatest scientists and inventors of all of the festival. time, an initiative for Serbia’s (re)branding • 16 km is the total length of the catacombs beneath Petrovaradin Fortress. will take place, with EXIT taking a lead role • Some 280,000 fans have liked the EXIT Facebook page. in promoting positive changes and the im• People from more than 60 different countries visit EXIT every year. age of Serbia and the Balkan region to the • A sum total of 163 festival days have taken place since EXIT’s founding to this day world and boosting its development in the • Over 5,500 musicians have performed at EXIT since 2000. fields of tourism and economy. • About 100 trucks full of equipment are needed to construct the festival’s stages each year An agreement with the cooperation • 5,000 bands have a profile on Exitmusic.rs of the University of Novi Sad and EXIT • The State of Exit foundation donated 75 travel grants to students, as well as 9 grants was signed, with the goal of promoting for student projects. the importance of culture, science and • The age of the average EXIT Festival visitor is 24 years and 194 days education among the youth and society cordeditorial@cma.rs |

117 July 2014 | 73

FEATURE

5TH GOLF TOURNAMENT FOR THE DIPLOMATIC AND INTERNATIONAL BUSINESS COMMUNITY

Gold Proves a

WINNER

The Embassy of the Kingdom of Netherlands and the Embassy of Malaysia, in cooperation with the Novi Sad Golf Centre and in partnership with CorD magazine, organised the 5th golf tournament for the diplomatic and international business community

s always, the golfers participated to win the tournament’s interesting prizes, while a separate Golf Demo Day gave guests their first golf lessons. Many showed their natural talent in the challenge of the mini-tournament organised for this occasion, but the most promising participant in the Golf Demo Day was Mr Igor Dodić, from Extreme Gym, while second place went to CorD magazine’s representative Ms Ruža Ristanović and third was Mrs Marija Vander Pol from Belgrade. In the Stableford competition between golfers, first place was shared by the representatives of the Embassy of Malaysia, Messrs 74 |

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Sahharon Omar and Ibrahim Ahmad, while third place went to H.E. Mohamad Sadik Kethergany, Ambassador of Malaysia in Budapest. Best in the ladies competition, Mrs Patricia Schmitz, beat Mrs Dana Teutsch into second position, while Mrs Rejhana Semić took third place. The overall winner of the tournament was American golfer Paul Đurišić. Among the Novi Sad Golf Centre’s own golfers, first place in the “bruto” category went to the talented Puniša Plazina from Novi Sad, while first-place in the “netto” category was won by Belgrader Boris Damjanović.

Andrea Miladin, Golf Centre Novi Sad, and Consul of the Netherlands Embassy, Frans Rotmans

It is no doubt that golf courses are very suitable places for interactions between different cultures and people from many business circles. Golf brings together successful people and is an ideal The Ambassador of Netherlands, H. E. Laurent Louis Stokvis MA, and Consul of the Embassy of the Netherlands, rans Rotmans sport for meeting and socialising. Post-tournament, Italian cuisine was The official Award Ceremony saw served, to the delight of all players and the President of Golf Centre welcome all Golf brings together guests. Sponsors donated attractive prizguests and participants, together with successful people and is the tournament organisers, Head of es to the winners of the various tournaan ideal sport for meeting ment categories, even including a booby Consular Affairs at the Embassy of the and socialising Kingdom of the Netherlands, Mr Frans prize for second to last, 7th place (a lucky Rotmans, and First Secretary at the number in the Netherlands) etc. ■ Embassy of Malaysia, Mr Ahmad Ibrahim. “It is a great pleasure to close this fifth golf tournament for the diplomatic and international community and I would like to point out Mr Frans Rotmans, who started this event three years ago.” Special guest of the day were the ambassador of Malaysia in Budapest and the ambassador of the Netherlands in Belgrade, who joined the ceremony with a short speech: “I am very happy to see this tournament is becoming a real tradition that will last. The Novi Sad Golf Centre gathers people from the diplomatic and international community very successfully and I congratulate Mr Frans Rotmans on this initial idea. I wish you all the luck in the future. This is a great manifestation!”

Ibrahim Ahmad, Embassy of Malaysia, and Frans Rotmans, Consul of the Embassy of the Netherlands

Saša Jokić, Golf Centre Novi Sad, Frans Rotmans, Consul of the Netherlands Embassy

cordeditorial@cma.rs |

117 July 2014 | 75

SUMMER 2014

Water Sports to Try

THIS SUMMER

f you’ve decide to spend your summer on an active holiday somewhere beside the sea, lake or river, you will be surprised by the large assortment of water sports that are available for you to choose from. In the last fifteen years water sports have been among the fastest growing recreational activities in the world. Okay, so Serbia doesn’t have a coastline, but right next door, on the coasts of some of Serbia’s neighbours, you can find great places for a wide variety of water activities, from kite-boarding to knee-boarding and jet skiing to surfing. If you have only just started taking an interest in this type of recreation, don’t unnecessarily waste a lot of money buying top equipment. Instead, take the opportunity to hire equipment and ascertain what works best for you. Many water sports are included in the category of extreme sports and they require special skills and injuries are common. This is something else to be considered when selecting a sport. Of course, this advice does not apply to professionals and experts who have been engaged in their specific water sports for a long time. The following recommendations are addressed to those who have yet to decide how best to make the most of their few weeks on the beach. 76 |

Rafting AVERAGE QUALITY PACKAGE: €150 Rafting, or white-water rafting, is a challenging recreational activity using a raft to navigate a river or other bodies of water. It belongs to the group of extreme sports and is one of the most unique outdoor activities available. An exhilarating rush like no other, splashing water, controlled paddling and unexpected drops and turns are all elements of raft rides. The mountainous region between Serbia, Montenegro and Republika Srbska (in Bosnia-Herzegovina) offers a remarkable opportunity for white-water rafting. The rivers of this region have carved out great canyons and wild rapids – a perfect scene for rafting and adventure loving travellers. You can choose among many rivers in the area, such as the Drina, Ibar, Lim and Tara. Whatever the destination, the well organised and prepared team of experienced rafters will make sure you experience the true holidays on and off the river. For any river rafting trip you will need a package of gear, including lifejacket, helmet, dry bags, rafting paddle, tennis shoes or sport sandals, waterproof sunscreen, gloves and water container.

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Water Skiing AVERAGE QUALITY PACKAGE: €250 Water skiing is not exactly walking on water, but it’s close -- and you might even say it’s better. Gliding across the surface pulled by a motorboat going at least 30 kilometres per hour with the wind in your hair is definitely a unique feeling. Water skiing is pretty simple. A person wearing what look like snow skis is pulled behind a motorboat across the water. The faster the boat, the faster the skier. And speed also translates into new tricks and more manoeuvrability. Aside from being a popular recreational sport enjoyed by thousands, water skiing is also an ever-growing competitive sport. Unlike some other water sports, water skiing does not require a huge initial investment when it comes to equipment There are several basic kinds of water skis. Combination ski has wide tips for better control and is popular choice for beginners. Skis come with various kinds of bindings or boots. Other water ski gear includes the tow rope and handle. Accessories like safety helmets and life jackets are essential to enjoying this water sport safely.

Kitesurfing AVERAGE QUALITY PACKAGE: €1500 Kitesurfing is widely becoming one of the most popular extreme sports in the world. Invented by windsurfers who wanted a portable device to allow them to travel the world, kitesurfing brings you adrenaline, excitement and freedom, while allowing you to join the growing community bringing the kite lifestyle! Due to the size of kites, that can be packed into a tiny little card that makes them much more portable, the problem of mobility is much less compared to other extreme sports. When kitesurfing began around 15 years ago, it was a dangerous sport due to the poor security system, but the increase in technology and design has changed kitesurfing and it is now considered a very safe sport. Kitesurfing has become so popular that there will be a good place for your kite almost everywhere you go where there’s wind. What experience do you need before starting? The joy of kitesurfing is that anyone can do it. However, due to various facilities, kites of different sizes are used depending on a kitesurfer‘s ability and weight. (The Gear Package Includes: Kite; Control Bar; Kite Leash; Pump; Pads, Straps, Fins and Handle; Harness and Bag). cordeditorial@cma.rs |

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Surfing AVERAGE QUALITY PACKAGE: â&#x201A;Ź400 For people who are new to this sport, learning how to surf and use a surfboard can be anything but easy. Surfing can become a fun form of exercise and recreation for anyone, but it will be necessary to put in a lot of time and practice to learn the basics. In addition, surfing does require more energy than it seems and therefore surfers must have a great deal of stamina. Many surfers that there are only two main types of surfboards they can choose from: a short board or longboard. However, a fun board is the best choice for novices surfers. The fun board includes a round, wide nose like a long board. This makes it less apt to catch the nose in and under the water, which will cause the rider to fall while turning or nose dive when taking off. Further, fun boards are thick and wide like a longboard, so they catch waves easily and stay afloat on the wave face for easier balance and longer rides. However, fun boards are still short enough to offer manoeuvrability as you begin to improve. Finally, fun boards work exceptionally well in small and medium waves.

Windsurfing AVERAGE QUALITY PACKAGE: â&#x201A;Ź1,300 Windsurfing is an aquatic sport that combines the disciplines of sailing and surfing. Today windsurfers can be found on a variety of waterways, from the open ocean to indoor pools, and there are a number of competitions dedicated specifically to this sport, including Olympic events. In this sport people use a modified surfboard with a movable mast. Most windsurfers utilise boards that have been customised for windsurfing, with a variety of long and short board designs available for different types of activities. A windsurfer stands upright on the board, controlling the sail on a boom to catch the wind and manoeuvre. Ideally, the surfer finds a spot with brisk prevailing winds to get the full effect, although people can windsurf in calmer environments as well. The sail operates much like that on a sailing boat, requiring knowledge of how sails work and how to work with the wind to achieve a goal, such as a particular speed or destination. Standing on a board requires experience with the water and a great sense of balance People of all ages can go windsurfing, including very young children: if you can stand, you can windsurf, with some practice.

Kneeboarding AVERAGE QUALITY PACKAGE: €200 Kneeboarding is an extremely bumpy ride. Since the rider is closer to the water, the waves seem to cause a lot of bounce. It’s almost like riding a wild bull. However, knee-boarding can be achieved by people as young as seven and as old as 60. These facts and many more are what make this sport popular. Firstly, it’s easier if you start your ride from the sand. If starting from the shore, make sure the board is at least in ankle deep water. Place the strap snugly over your thighs, just above your knees. As with any water sport, always lean back with your arms slightly bent and hands tightly grasping the rope. Keep the nose of the board up when the boat starts to pull. The nose will automatically go under water and you could be pulled face forward right over the board. It is important to pull the nose up with your hands and by leaning back. From there the ride is smooth. (Package Includes: Kneeboard, Universal Vest, Kneeboard Tow Rope and Kneeboard Bag.

Jet Skiing FROM €2,500 – €15,000 Jet skiing, like other competitive water sports, got its start in the 1970s and has since grown to offer several different riding styles and competitions, as well as the option to just cruise the water. Freestyle riding is traditionally performed o¬n a standup craft which allows the rider greater manoeuvrability when performing tricks. Freestyle riders perform a variety of tricks, including technical tricks like grabs, as well as big air tricks and aerial manoeuvres. There are also addition styles of riding that more closely resemble racing, these include closed course and distance races. Be aware of accidents you can cause if riding in a congested area. For your safety and that of everyone else using the water, it is important you do not exceed the speed limit. There a few things to consider when looking at buying a new jet ski. You first need to figure out how you will be transporting it and whether or not you need a trailer. Second, you need to determine where you will store it, during both summer and winter, and, finally, new jet skis cost between €2,500 and €15,000. cordeditorial@cma.rs |

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CHILL OUT

World Naked Bike Ride Thousands of cyclists, many of them stark naked, poured onto the streets of the American city og Portland for the 11th annual World Naked Bike Ride, a protest event that promotes cycling as an alternative to driving cars. The nude cyclists with lights flashing in the spokes of their wheels rang bells as they barrelled down avenues lined with cheering spectators. Cyclists showed up in Normandale Park an hour before the ride, shedding garments according to the ride theme “as bare as you dare”. The rides are held annually in more than 75 U.S. cities and more than 20 other countries, but Portland is believed to be the largest, with more than 8,000 participants. Fred Tebo (90) wasn’t sure want to think of the masses of naked people in the park across the street from his house. “It’s entertaining and it’s stupid at the same time,” he said.

Highest Paid Footballers Here is the list of the highest paid players who are competing in the FIFA World Cup in Brazil. Each player’s total earnings include salaries and endorsement deals, based on the latest rankings from Forbes. The world’s highest paid footballer is Cristiano Ronaldo, with total earnings of €54 million. The Portuguese forward makes roughly €36.2 million a year as part of a five-year contract with Real Madrid. He also has sponsorship deals with Nike, Samsung, Herbalife and others. Argentina’s Lionel Messi is the 2nd highest paid player, with €48 million. His annual salary with Barcelona is €31 million, but Lionel also has sponsorship deals with Adidas, Pepsi and Samsung. 80 |

Neymar, of Brazil, is 3rd on the list, with an annual income of €20.6 million. The 22-year-old makes €8.9 million a year playing for Barcelona, but endorsement deals with Nike, Castrol, Panasonic, L’Oreal and Volkswagen boost his earnings by another €11.7 million.

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Null Stern Hotel A hotel is a vital part of any trip. And when it comes to spending your holidays in an unusual way, this strange hotel can multiply your experience. Null Stern (Zero Star) doesn’t describe the hotel’s classification, but rather is part of company’s slogan “Null Stern - The only star is you”. The strangest fact about this unique hotel is that it is a former nuclear bunker converted into a hotel. The concept behind is about giving a new lease of life to unused real estate. Artist Atelier für Sonderaufgaben has turned the Null Stern Hotel into an excellent minimalist environment. If you’re wondering what it would be like to spend a night inside a nuclear bunker, then you should know that the Null Stern Hotel has been ranked among Europe’s top 100 hotels. The world’s first zero star hotel is located in Teufen, Appenzellerland, Switzerland. It has no windows, bathrooms are shared and there is a lounge and two large rooms for 14 people. The list of the 10 top earning players also includes Wayne Rooney, of England and Manchester United, with annual earnings of €16.2 million, Sergio Aguero, of Argentina and Manchester City, (€15.5 million), Yaya Toure, Ivory Coast and Manchester City (€14.8 million), Fernando Torres, Spain and Chelsea (€14.8 million), Robin Van Persie, Netherlands and Manchester United (€14 million), Steven Gerrard, England and Liverpool (€12.6 million) and David Silva, Spain and Manchester City (€11.8 million). The highest paid coach at the World Cup is Italian Fabio Capello, now head of coach of Russia’s national team, with average earnings of €8.4 million a year, followed by Roy Hodgson, England, at €4.4 million and Cesare Prandelli, Italy, who is paid €3.2 million per year.

Gorilla Man Tranquillised A Spanish zoo keeper dressed in a gorilla suit was so convincing that he was mistaken for the real thing and shot with a tranquilliser dart. Employees at Loro Parque Zoo on the Spanish island of Tenerife were taking part in a drill to ensure they had an emergency plan in case one of the gorillas escaped from its enclosure. One keeper drew the short straw in the exercise and was made to wear the hairy ape costume and run around the park mimicking a gorilla. Unfortunately, nobody thought to tell the zoo’s vet about this aping around and when he saw the escaped “gorilla” he sprang to action and shot it with sedatives designed for a 180 kilogram primate. According to a statement from the zoo’s management, the 35-year-old keeper was taken to the University Hospital of the Canary Islands, where he was treated and discharged.

Bolivian Dies Aged 123 An indigenous man in Bolivia whose reported age would have made him the oldest person ever known died on 10th June in his village near Lake Titicaca, according to his only living son. Carmelo Flores, an Aymara Indian, claimed to be 123 years old. Flores carried national identity documents based on a baptism certificate showing his birthday as 16th July 1890. However, Bolivia only began issuing official birth certificates in 1940 and authorities were never able to confirm or disprove Flores’ age. “He died yesterday at nine at night,” said his son Cecilio Flores, who is nearly 70. “He wasn’t able to stand up and his foot was swollen. Doctors told me that’s how it is with diabetes.” Flores attributed his longevity to eating quinoa seeds and riverside mushrooms, and to constantly chewing coca leaves. He lived in a straw-roofed hut in Frasquia, a 4,000-metre high Andean hamlet east of La Paz. He spent his last years taking walks in shoes made of recycled tyres and laying on a blanket watching village life pass him by. According to the Guinness Book of Records, the record for oldest person who ever lived belongs to Frenchwoman Jeanne Calment, who died at the grand old age of 122 in 1997.

Bonsai Tree Houses In 2003 Takanori Aiba, a famous Japanese photographer, painter, illustrator and architect, decided to make a drawing of labyrinths so full of detail that is shows an amazing small world containing many things. What is unusual is that at a distance they appear like traditional style bonsai trees, but once you take a closer look you see that each of his works is very realistic and holistic, not only creating the outlines of objects, but also include careful consideration in an attempt not to miss a single element. These artistic models have been created using many elements, such as craft paper, plastic, plaster, acrylic paints etc. Aiba constructs a mix of bonsai trees, lighthouses and cliffs of the nearly Vertical Island.

Finnish Divers Find German Submarine A group of Finnish divers this month claimed to have found the wreckage of the U-26 German submarine, which sank in the Gulf of Finland nearly a century ago. The wreckage was found in the western part of the Gulf of Finland. The German submarine was built in May 1914, two months before the outbreak of World War I, and sank during the war, in August 1915. The U-26 was the pride of Germany after successfully torpedoing and sinking four Russian warships in the Baltic Sea during its one year of service. The submarine, with a 30-strong crew on board, disappeared without any trace. According to local media, diver Jouni Polkko speculated that the submarine was most likely destroyed by Russian minefields, which were deployed to block German warships from entering the Gulf of Finland. cordeditorial@cma.rs |

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FASHION

Comfortable W Summer Trends

e can spend many days wearing uncomfortable but trendy things. Just remember your working day when you don your fashionable high heels and recall how easy it is to get home after a busy day at work. It’s even difficult to sit wearing such shoes, but we all want to be trendy and feel the fresh breath of fashion, which is why we can seemingly endure anything. This summer, thanks to sports shoes, the trend in comfort is also on top. It’s very freeing and sporty, but it can also be very girly at the same time. However, despite being the season’s most comfortable trend, it does have some limitations. Certainly the silhouette can be relaxed and the aesthetic casual, and this time the sporty trend features clean lines and luxurious fabrics. Here are some ideas for comfortable summer outfits.

Tall White Shawl Alexander Collar Blazer Wang Pocket Trasform casual daytime looks into T-Shirt classic evening elegance with this Slightly draped fit and tonal stitching, the pure rayon t-shirt, finished PRICE: with a front chest pocket.

white shawl collar blazer. PRICE:

€30

€87

Georg Jensen Koppel Leather Watch

PRICE:

€935

A timeless design for everyday, Georg Jensen’s Koppel watch is a standout piece with a sleek leather strap and polished stainless steel case.

Tan LeatherLook Belt

PRICE:

€4

Give your wardrobe a classic edge with this practical and stylish tan leather style belt, perfect for any occasion.

White Supersoft Skinny Jeans

PRICE:

€45

White jeans make a great alternative to everyday blue jeans and this supersoft design is a great investment piece for summer. PRICE:

€73

Michael Kors Linen Top & Distressed Cropped Jeans The perfect pairing for an easy weekend vibe, layer this soft linen tee with the vintage wash cropped jeans.

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PRICE:

€25

Strap Leather Heel Sandals

PRICE:

€37

For a versatile addition to any evening outfit, team these real leather tan heel sandals with a bodycon dress.

Wrap Front Sleeveless Blouse PRICE:

€43

Medium Susanna' Check Print Bucket Bag

Sleek front panels create a flattering faux-wrap look for a sophisticated sleeveless blouse finished with a high/low hem.

Oversized checks lend signature sophistication to a slouchy bucket bag trimmed PRICE: with smooth, burnished €510 leather.

'Superjelly' Thong Sandal The patent-pending Microwobbleboard™ footbed absorbs shock and reduces the pressure on your feet and joints. PRICE:

€43

Salvatore Ferragamo Leather Bracelet PRICE:

€160

Treasure Trove' Floppy Hat Metallic coils and faux-leather trim refine a floppy, wide-brimmed hat that provides casual sophistication and protection from the sun’s rays. PRICE:

€30

Crafted from soft leather in multi-wrap length, the design is finished with the brand’s signature Gancio buckle fastening for a distinct designer finish.

cordeditorial@cma.rs |

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FASHION

Sporty & Comfortable W Look for Summer

ith its new found style, affordability and comfort, it is no surprise that sportswear has made its way from the gym into our everyday lives. The first thing we have to realise is that there are different kinds of sportswear. There’s sportswear made for the gym and sportswear made specifically to be worn outside the gym. For example, wearing a basketball shirt and shorts paired with trainers (complete with exposed white socks) to a basketball game may be a little too much. However, if you wore a sport t-shirt, great fitting jeans and casual shoes you wouldn’t feel out of place with your friends and you’d also be comfortable and stylish. Here are some ideas on how best to mix and match sporty clothing and comfortable styles.

Leather Belt Soft 100% leather belt with a metal buckle. PRICE:

€ 13

Gucci Short Sleeve Polo Shirt Blue cotton polo shirt from Gucci featuring a classic polo collar, a front button placket, short sleeves, a regular length, a straight hem and a white and red stripe across the chest. PRICE:

€ 163

Gucci New Auger Suede Drivers Suede, Pebbled rubber sole, Made in Italy.

Polo Ralph Lauren Nylon Duffel Bag This brightly hued duffel bag is crafted from durable nylon and features a sturdy leather base.

PRICE:

€ 335

€ 285

PRICE:

Rue Du € 635 Rhone Chronograph Watch Classy and vibrant, this 88 RUE DU RHONE timepiece features a matte black PVD case with a dramatic black dial and red accents.

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Brioni Polo Shirt

PRICE:

Blue cotton polo shirt from Brioni featuring a classic polo collar, short sleeves and a front button placket. PRICE:

Bifold Wallet

€ 90

Made from premium, vegetable-tanned Horween leather with rich natural character that gains nuance through daily use.

Downing' Denim Jacket

€ 203

PRICE:

Pure Cotton Gingham Grid Checked Shirt

UV Protection Retro Sunglasses Full UV protection and a retro style means these casual sunglasses are a stylish summer essential.

€ 240

Handsome brass buttons detail a lean-fitting denim jacket in a vintageinspired wash.

'Wynn' Chino Shorts

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cordeditorial@cma.rs |

117 July/August 2014 | 85

PROFILE

Living the

Dream From basketball to corporate management – playmakers with drive, vision and a dream are always required DR. MAURIZIO VALLA, Assistant General Director for Sales and Marketing, DDOR Novi Sad a.d.o.

y childhood dream was to be a basketball player, a 2) A STORY TO TELL: one thing that’s always very important great playmaker! in the professional environment and the daily client relationI grew up in a little town called Pesaro, right on the ship is what I call the “bag of experience”: the schools you have beautiful Italian east coast; a town living from tourattended, the countries you have visited and lived in, the conism and kitchen manufacturing, but above all breathing basketball nections you have made around the world and the passions you every day. Scavolini Pesaro is the local team, which at the time was have developed – from sport to music to cooking... In general, led and directed on the field by a Serbian player: Dragan Kićanović, it’s about being open to new experiences and considering each “Kiccio”. He was not just the best player in Europe, for me he was change as an opportunity. very inspirational as a leader and team player and years later I real3) PEOPLE and the TEAM: there can be nothing without good ised he was my first connection with Serbia. people and a good team! And this requires daily dedication in all I tried, learned and earned my achievements playing basketball phases of career development: from analysts to managers, a lot of in the youth of Scavolini from age four to 18, but at the age of 19 I time is spent on coaching, teaching and, above all, listening. A very decided to move on. good saying from the McKinsey time was that a McKinsey team can I moved first to Milan, to start my nuclear engineering studies climb Mount Everest in 3 days! Possible? Yes, if you believe it and at the Polytechnic University of Milan, and then a few years later I have a good team, it really is possible! relocated to Los Angeles and UCLA, to complete my thesis in a proI came to Serbia in 2008 after DDOR was acquired by ject financed by NASA. It was “brain killing”, very, very challenging, Fondiaria-SAI (now Unipol Group), first as a consultant to rebut also very formative! I MADE my way organise the company and shape the through perhaps the most entrepreneurtransformation programme, and then A very good saying from the as head of Sales and Marketing. A new ial adventure of my life, which helped me McKinsey time was that a greatly to build my self-confidence. managerial challenge! What were the Later, after a one-year “sabbatical” biggest differences? Previously I had McKinsey team can in military service, I finally landed a “real been advising managers to make deciclimb Mount Everest in 3 job”! In Italy, working in strategic servicsions, while now I had to make them on days! Possible? Yes, if you es and corporate finance, analysing profit my own! Bigger responsibilities, but albelieve it and and losses, balance sheets, defining busiso greater satisfaction! ness strategies and finalising transacTo date I have spent almost six years have a good team, it really is tions! It had nothing to do with my studin Serbia. I am currently living in Belgrade possible! ies and my previous experiences, but was with my family, who are also a fundamenall about the drive to improve myself evetal part of my professional success. DDOR ry day and the opportunity to learn new things in an international has now become a very solid company, with a qualified and expeenvironment. rienced management team, a loyal customer base and the right After that I joined McKinsey, undoubtedly a cornerstone in the mind-set to face future market challenges. I love my job, my team development of my professional career! I wish to mention three key and the opportunities I am given to generate new ideas and start lessons that are still part of my everyday job and leadership style: implementing them the same day. 1) CLIENT FIRST: always advising the client in their best interests, That’s a lot of things, but what does it have in common with my at the highest standards in terms of new knowledge, generating childhood dreams? EVERYTHING! The same passion and the same ideas and transparency; I put myself in my clients’ shoes in order feelings I proved the day I touched my first basketball. Every day to better understand their concerns and struggles, so as to develwhen I enter the office or talk to my team I feel the same will to op the most appropriate solutions and communication. Preparation build something extraordinary! is crucial for success! I still want to be a great playmaker and I WILL BE! ■

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