The Slovenia Times Autumn Edition 2015

The Slovenia Times Slovenian Magazine in English Language Autumn Edition 2015, Volume 12, EUR 4.90

www.sloveniatimes.com

Report:

Interview: Violeta Bulc, European Commissioner for Transport

Smart urban mobility solutions, European railway liberalisation and Single European Sky Policy

10th Bled Strategic Forum

Interview: Dr Danilo TĂźrk, former President of the Republic of Slovenia

"We have to demonstrate that European values are meaningful" Experience&Lifestyle Slovenia

Autumn in Slovenia – the season for wine In the Spotlight: Luka Koper, Aerodrom Ljubljana, BTC Logistics Centre

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www.investslovenia.org

Slovenia’s time-tested qualities make it a prime location for greenfield production, regional HQ, distribution and logistics centre or R&D facility.

We provide support for foreign investors looking to take advantage of the country’s strengths.

We continue to work with businesses under our aftercare programme to ensure your investment is a success.

Contact InvestSlovenia Team: T: +386 1 5891 870 E: invest@spiritslovenia.si

Photos: 1 ©The Brdo Congress Centre, 2 ©Port of Koper, 3 Bled; ©Franci Ferjan; www.slovenia.info, 4 ©Krka - R & D center in pharmaceutical companies

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Financed by the Ministry of the Republic of Slovenia for Economic Development and Technology.

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Contents Page 6

IN THE SPOTLIGHT

5 Investors - the reward will be worth the challenge 6 Interview: Violeta Bulc, European Commissioner for Transport 8 Comment: Transport & Logistics – Zmago Skobir (Aerodrom Ljubljana), Drago Matić (Luka Koper), Robi Košir (BTC Logistics Centre) 10 Interview: Professor Danica Purg, President of IEDC-Bled School of Management Page 10

12 REGIONAL INSIGHT IN ASSOCIATION WITH S&P RATINGS SERVICES

ECONOMIC REVIEW – INVESTMENT ENVIRONMENT

14 Improving investment environment in Slovenia (OECD)

15 Slovenia’s international investment sub-factor ranks at 59th (IMD) 15 The Economist Intelligence Unit’s view of Slovenia’s investment climate (The Economist)

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SLOVENIA BUSINESS CHALLENGES – INVESTMENT CLIMATE

16 Vojmir Urlep MSc, President of the Board of Management, Lek, a Sandoz company

16 Holger Postl CEO, TAM-DuraBus

ECONOMY

17 Interview: Jerneja Lampret, The Commissioner-General of Slovenia for Expo Milano 2015 18 Finance Minister, Governor Meet IMF Officials and Private Investors in Lima 18 Exports Expand by 5.3% y/y in August 18 EU to Help Slovenia with Second Rail Project, Commissioner Says 18 Bosnian Firm Acquires Ljubljana Builder 19 Kolektor Acquires Swiss Customised Electric Drive Maker Page 20

19 Slovenian, Russian Businesses Fostering Ties 19 VW to Recall 34,300 Cars in Slovenia Over Emissions Software 19 Postal Company Acquires Publisher’s Logistics Business 20 Interview: Polona Domadenik, Ph.D., full professor and Vice Dean at the Faculty of Economics, University of Ljubljana 22 Despite economic recovery and improvement in labour market conditions, lending activity remains weak

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23 The Business Intelligence Center (BIC) 24 Management Congress 2015: Let’s look to success 25 Interview: Dr Stephan Sigrist, founder and head of the W.I.R.E. think-tank 27 The Slovenia Business Bridge™

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GLOBAL PITCH

28 Start ups and the digital age 29 Idea: Easycarb 30 BTC City Ljubljana – Innovative Ideas

POLITICS

32 PM Tells UN Slovenia Committed to Strengthening Human Rights, Rule of Law 32 Finance Minister to Propose Dismissal of Bad Bank Boss

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33 Parliamentary Delegation Discussed Refugee Crisis in Strasbourg 33 Health Ministry to Unveil Major Laws by the end of 2015 34 Interview: Dr Danilo Türk 36 Bled Strategic Forum 2015: "It is not the goal to re-cut the pie but to enlarge it"

EXPERIENCE&LIFESTYLE SLOVENIA

38 The Summer of the Mobile Wielding Tourist 40 EXPO Postojna Cave Karst 42 5th Ljubljana Forum 43 CIVITAS Forum 2015: Sharing the City 44 New traffic regime on Slovenska cesta 45 A Wealth of Drinking Water 46 Best & Beyond, Air France’s long-haul ambition 48 Autumn in Slovenia – the season for wine 50 A visit will make all the difference 51 ŠUS Eurofitness – Best sporting offer in town

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SPORT

52 Legendary Gymnast Petkovšek Ends Career 52 Legendary Ice Hockey Player Razingar Hanging Up His Skates 52 Two World Championship Medals for Slovenian Canoeists 53 Slovenia Fail to Secure UEFA Euro 2016 in the Play-Offs 53 Planica Nordic Centre Nearing Completion

CULTURE&EVENTS

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54 Event Guide

Autumn Edition 2015 | The Slovenian Times

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Editorial

Open Up While taking a walk on a nearby hill at the edge of Ljubljana, I passed through a carpet of leaves – autumn is here. A gentle breeze shook more leaves from the trees as they slowly swayed from side to side in harmony, each leaf a unique color. Yellow, orange and brown shades and every shade in-between, just like people I thought, but we still have a long walk ahead for harmony.

The world is facing an ongoing conflict on one side and inventing robots on another. "Imagine all the people living life in peace", John Lennon used to sing and it is sometimes worth listening to the music, very loudly!

Where is Slovenia in all of this? People used to say in the heart of Europe and since 2003, The Slovenia Times has brought the stories of Slovenia to an international audience. Our autumn edition is focused on business, not only from Slovenia but also from the region, with our new section Regional Insight.

In another new section Economic Review, we discover the Investment environment with perspectives from some of the most renowned international organisations. We also invited companies from Slovenia to provide their comments about their investment experiences in the section: Slovenia Business Challenges.

With travel being an increasingly important part of life, the In the Spotlight section of this issue is dedicated to transport & logistics. You can find some interesting facts and figures from the Slovenian sectors and the broader picture when reading an interview with the European Commissioner for Transport.

So much has been happening in Bled, the magical place just 30 kilometers from Ljubljana Airport. The season started with the 10th anniversary Bled Strategic Forum, the traditional diplomatic rendezvous. This year, participants marked a number of important anniversaries for the international community as revealed in this edition. With so much happening politically and economically globally, The Slovenia Times spoke to the Former President of the Republic of Slovenia, who points out that Europeans have to demonstrate that European values are meaningful.

Finally, I will leave some topics in this magazine to surprise you as you browse through and smell the print. However, if you have a preference for digital, then we invite you to subscribe on our website (www.sloveniatimes.com). The Slovenia Times e-newsletter will find you on your smart gadget, anytime, anywhere, any place while drinking your coffee and eating a pain au chocolat.

Yours truly, Tina Drolc Editor in Chief

Autumn Edition 2015 www.sloveniatimes.com

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Editor in Chief Tina Drolc

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Business Partners

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The Slovenian Times | Autumn Edition 2015

European In the Spotlight Union

FDI Summit Slovenia 2015; Photo: Aljaž Hafner

Investors the reward will be worth the challenge We can say - finally - that the economic indicators in Slovenia have started to improve and the country has gained a few places in the competitiveness rankings, according to IMD World Competitiveness Centre. How do we at The Slovenia Times and the local economic associations, which represent the voice of local and foreign investors, see this improvement?

As autumn is the high season for business meetings – local and international - the question must be asked of how to improve our business environment and make it more competitive. The foreign economic associations are holding important meetings at this time: the September meeting of DeSlo -the German-Slovenian Chamber of Commerce; the AmCham – American Chamber of Commerce October conference; and the annual conference of the Manager Association of Slovenia; all of whom wishing to improve the economic conditions for their membership.

Although, upon joining the EU, Slovenia was among the most successful new members, many of the member states now have a competitive advantage over Slovenia due to two important factors: foreign direct investment and integration into the global value chains.

Slovenia has attracted a much lower volume of foreign direct investment than other member states and, although exports have increased mainly in the technology sector, it is not enough.

Foreign direct investment should be an important part of the growth strategy in Slovenia. Unfortunately, the current barriers and obstacles - from high taxation and an inflexible labour market, to the lack of transparency, burdensome bureaucracy and an ineffective legal system – give potential investors the impression that Slovenia remains closed to foreign investment.

The environment in Slovenia is still hostile, not only to foreign but to all capital, and it is seen as a source of exploitation of workers and their rights. Whilst, in some isolated cases, this is true and cannot be denied, it gets far more media attention than when the capital brings new jobs.

The lack of privatisation further confirms that Slovenia is closed – government-owned stakes in companies, which significantly shape GDP are, in comparison with other EU

countries, too large. This has had a long-term impact on the global competitiveness of Slovenia. Privatisation must take place more quickly and as transparently as possible because this will, together with foreign direct investments, contribute to the further development of the country and society.

Fear from foreign investors is unnecessary. In Slovenia there are excellent examples of foreign-owned companies (Lek –Novartis, Knauf Insulation, BSH,…) which contribute significantly to the Slovenian territory with their socially responsible operations, stable employment and superior corporate governance.

This is one of the reasons that a group of companies in foreign ownership formally established, within the Slovenian Chamber of Commerce, a section to address their needs. Its aim is to primarily look at those recommendations and directions that they would like shared with both the government and other relevant stakeholders in order to make the Slovenian business environment more competitive and attractive for both local and foreign capital.

The Slovenia Times, together with the Faculty of Economics at the University of Ljubljana, foreign business associations in Slovenia, the Association of Managers of Slovenia and the foreign managers divisions of the Slovenian Chamber of Commerce, are organising the annual international business conference "Foreign Direct Investment Summit Slovenia 2015" which, this year, will be held on 8 December 2015.

If you are a businessperson or a representative of the professional public and would like to contribute to the improvement of the Slovenian investment environment, we invite you to join us at the event.

We will provide interesting content for roundtable discussions and invite the Prime Minister and ministers, who are responsible for improving the competitiveness of our business environment to share their thoughts on how they will shape a more friendly and welcoming environment for foreign investors. You will also have excellent networking opportunities and we are confident that, together, we can change the conditions to improve Slovenia’s international competitiveness rankings and be among the most respected countries in the near future.

Our current 49th place in the IMD World Competitiveness Ranking 2015 is not an achievement of which we can be proud of - an increase by 20 places in a few years would be realistic and then we will be able to say that Slovenia has a competitive business environment.

Welcome to the challenge.

Autumn Edition 2015 | The Slovenian Times

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European In the Spotlight Union Ensuring fair competition is therefore key to encouraging private investors to inject capital in innovative and more costeffective railway companies.

Effective competition encourages state-owned, ex-monopolist companies to shape up, become more cost-effective and improve their services for the benefit of customers and shareholders alike.

Mrs Violeta Bulc, Msc, European Commissioner for Transport

Interview: Violeta Bulc, European Commissioner for Transport

The Commission is supporting investment in smart mobility and innovative transport solutions Prepared by Tina Drolc & Davy Sims

Slovenian, Violeta Bulc, has been the European Commissioner for Transport since November 2014. She explains that Europeans spend as much on transport as they do on food and drink, "This means that we have to make sure that the transport is and remains available, affordable and sustainable".

The Commissioner emphasises smart urban mobility solutions, cost-effective railways, a common marketing approach toward Asian ports and a number of other projects, worth an estimated EUR 1bn which are part of the European single sky policy.

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The Slovenian Times | Autumn Edition 2015

Q Transport represents 5 percent of EU GDP, which is 13 percent of EU consumer expenditure.

The Commission has decided to pay special attention to the execution of the smart cities policy, digitalisation and sustainable transport systems.

How do you plan to realise these?

A Smart urban mobility solutions, in both passenger transport and logistics, can help to improve the efficiency of transport considerably.

We pursue three elements: better coordination of our policies and initiatives; improved access to finance; and improved technical assistance.

One concrete example of technical assistance is the expansion of the successful ELENA facility of the European Investment Bank (EIB) to cover smart urban mobility. The EIB will support cities to develop projects of sufficient scale, with a convincing business model and where additional private and public capital can be sourced. The Commission is supporting investment in smart mobility and innovative transport solutions, in alternative energy sources and intelligent transport systems through the Horizon 2020 programme. We are co-funding infrastructure projects in EU Member States under the Connecting Europe Facility and we have put in place several programmes to encourage cities and towns to improve the quality of life by introducing more sustainable transport solutions such as the "European Mobility Week" campaign and programmes such as CIVITAS. Q The 4th Railway Package deals with the liberalisation of the railways in Europe which aims to create an integrated railway system at the EU level. In many EU countries, including Slovenia, the opening of this sector still depends on state-owned companies with a majority market share. How does the Commission promote a more equitable access to the railway sector by private investors?

A Liberalising railways in Europe does not mean that state-owned companies need to be privatised. Effective competition between

European In the Spotlight Union public and private undertakings in the railway sector is possible, provided that the regulatory framework establishes a level playing field between competitors. The legislative proposals of the 4th Railway Package aim to ensure that new competitors are granted non-discriminatory access to rail infrastructure and that they do not suffer from unfair competition, for example, from cross subsidies within vertically integrated undertakings. Ensuring fair competition is therefore key to encouraging private investors to inject capital in innovative and more cost-effective railway companies. Effective competition encourages state-owned, ex-monopolist companies to shape up, become more cost-effective and improve their services for the benefit of customers and shareholders alike. Having said this, Member States can also decide to sell a stake in their state-owned railway undertakings to private investors, or even privatise them entirely.

Q It is an objective of the Commission to extend tourism within and to Europe. Tourism inevitably needs transport. How do you balance the need for a sustainable transport system, the reduction of greenhouse gases, and the requirement to increase transport for tourism?

A Through digitalisation of transport we can improve existing infrastructure and provide more efficient transport services. This is challenging and appealing at the same time. Smart applications and services, based on shared multimodal travel and traffic data, are a good example: The resulting information can direct drivers to less congested routes, direct vehicles to where there is free space to park and allow fares to be adapted to the level of traffic. Travel information and planning services across different transport modes provide travellers with complete and reliable information about various options, making them aware of more sustainable forms of transport.

Q Today, the northern Adriatic ports, including Slovenia’s Luka Koper, have reached a throughput of around 110 million tonnes that is only a quarter of, for example Rotterdam, the largest European port. The potential of the region is still underutilised however, with their strategic geographical position, Luka Koper represents the shortest way for cargo coming from Asia to Central European markets which is important in terms of cost, time and pollution. How is the Commission planning to deal with this issue?

A Northern Adriatic ports can indeed minimise the land leg of the international transport chains to Central Europe, but they must offer infrastructure and efficient services readily available for larger vessels, which have become the norm on EU-Asia trade routes. The transEuropean network is a fantastic opportunity for the northern Adriatic ports which are at

the cross roads of the Baltic-Adriatic corridor and the Mediterranean corridor. The Commission offers support to coordinate infrastructure planning along the corridors and provide financial support to build, in particular, the necessary rail connections and port adaptation. I hope that we will receive some good proposals from the next call for proposals to be published by December this year, and that the Koper-Divača rail-link will be mature enough to be retained.

We also need transparent accounts and efficient port services which is why, after the agreement of the Council last year on Port Regulation, I hope that the European Parliament will make quick progress in adopting it.

It will be an important sign for port investors.

The northern Adriatic ports could also develop tighter cooperation to manage their common hinterland and undertake common marketing actions towards Asia to create a critical mass to attract traffic.

Q At the conference on "China and Europe", hosted by the IEDC Bled School of Management earlier this year, one of the attendees suggested that the Port of Koper and Chinese businesses should work together to the port and bring in a large percentage of Chinese investment to allow proper expansion and the completion of the port’s railway system. How would the Commission view that?

A Enhanced synergies between China’s 'One Belt and One Road' initiative and the EU’s connectivity initiatives such as the TransEuropean Transport Network Policy, conforms to the shared interests and will create multiple business opportunities and promote employment, growth and development for both sides.

Maritime transport and ports will play a key role in this context. China is therefore welcome to participate – through financing for instance – in the development of projects aimed at strengthening the connectivity between our two continents. In view of this, a level playing field for investors and relevant businesses should be assured. Both sides should commit to promoting openness, transparency and nondiscrimination in their respective markets and in third-party countries. If China decides to invest in the development of ports, such as Koper or other ports in the EU, it should go along these lines.

the first call for proposals under the CEF programme, which included a specific area on SESAR deployment with co-funding potential of EUR 285m from the estimated EUR 3bn planned until 2020. I signed the framework partnership agreement that effectively completes the setup of SESAR deployment governance. The CEF call resulted in the selection of the first 100 projects that will start the implementation of the first Common Project, therefore effectively initiating the coordinated deployment of SESAR solutions. The response to the call has been very encouraging and proves the commitment of the stakeholders to deploy SESAR under this new framework. In fact, the final amount of funding awarded to these projects has increased to EUR 325m. A second call for proposals under the CEF is now being prepared. We understand that stakeholders are already preparing a further batch of projects worth an estimated EUR 1bn. 

The northern Adriatic ports could also develop tighter cooperation to manage their common hinterland and undertake common marketing actions towards Asia to create a critical mass to attract traffic.

Q Single European Sky is an aim the Commission is following by exerting more pressure on the Member States. Airlines, airport operators and air-navigation service providers will receive up to EUR 3bn in EU funding through the Connecting Europe facility for common projects. How is this progressing?

A SESAR deployment is indeed progressing very well. Last September, INEA launched Autumn Edition 2015 | The Slovenian Times

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European Economy In the Spotlight Union Comment: Transport & Logistics

Aerodrom Ljubljana

"It has now been one year since Aerodrom Ljubljana got a new owner – German Fraport, the operator of the third biggest European airport (Frankfurt Airport) and of fourteen international companies. One year is a very short period in the airport business, but generally speaking there is significant potential for

development of passenger, as well as cargo, traffic. Both are important factors for the future development of the airport and for the economy of the region.

Our most important goal is to enhance the passenger experience and convenience.

Customer orientation and service quality en-

hancement is the first priority of all development plans and then additional capacity will be added as needed, according to traffic demands.

We are currently working on optimising the operational processes, improving the passenger experience and the commercial offer of the airport.

Ljubljana Airport is located in an excellent position at the junction of European transport corridors. Its geographical position makes Ljubljana Airport a natural hub for south-eastern Europe, including the western Balkans, and parts of central Europe. With direct access to the highway and only a few hours from major business centres in neighboring countries, Ljubljana Airport is crucial for the wellbeing and development of the economy by providing essential infrastructure at both a national and regional level.

Transportation is a major pillar of today’s global economy, enabling the free movement of people and goods. Aerodrom Ljubljana served 997,516 passengers in the first eight months of 2015, of which 978,070 were public transport passengers, up 11% from the same period last year. The number of aircraft movements in the first eight months of the year was up 2% on the same period of 2014 and cargo tonnage was approximately the same. Our leading markets are Slovenia, Turkey, France, Great Britain, Germany, Hungary and our focus for the future is on northern Germany, Scandinavia and Spain."  Zmago Skobir Chairman of the Board, Aerodrom Ljubljana d.d.

Luka Koper "The Port of Koper enjoys an excellent geostrategic position, situated at the intersection of the Adriatic-Baltic-Mediterranean transport corridors. Furthermore, it lies on the shortest logistics route from the Far East to Central Europe, meaning it is both more time and cost efficient for all participants in the logistics chain and also has a lower environmental impact. However, it’s not only about the good geographical location, the major advantages are flexibility, a high level of quality services, reliability and safety of cargo. The company, as the single operator of all terminals, enables client requirements and expectations to be met more simply

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The Slovenian Times | Autumn Edition 2015

European In the Economy Spotlight Union Luka Koper has the Concession Agreement to manage the port until 2043. The strategic documents endorsed, not long ago, anticipate a EUR 300m investment in port infrastructure and equipment by 2030, and a further EUR 400m injection by 2030 if an additional railway connection with the hinterland is provided, which is an absolute necessity to be able to achieve the anticipated growth.

Luka Koper is a transit port with more than two thirds of the cargo being transported to/ from the countries of Central Europe. There are also excellent opportunities for expansion in to other markets, such as Japan, Bavaria, India, South Africa and South America. Furthermore, the plan is to enhance our operations in China, South Korea and the Middle East.

In 2014, Luka Koper achieved record results in terms of cargo throughput and also the financial results. The company’s performance is also good for the first six months of 2015: recording a 15 percent year-on-year growth in cargo throughput and revenue, and an 18 percent increase in strategic cargo (containers and vehicles).

Luka Koper is on the right path to realise its vision, i.e. to become the leading port system operator in providing global logistics solutions for Central and Eastern-European countries; to retain the leading position as the largest container port (in terms of number of containers handled) in the northern Adriatic and become the number one port in vehicle throughput in the Mediterranean – (currently second) in the

number of cars handled. The anticipated cargo throughput for 2020 is 24 million tonnes, with EUR 218m in revenue. The plans are ambitious but we are very confident about their realisation."  Drago Matić President of the Management Board

BTC Logistics Centre project is being implemented by BTC in cooperation with Slovenian Railways through a public-private partnership. The Municipality of Ljubljana is also participating in the project which is supported by the Ministry of Economy and the Ministry of Infrastructure and Spatial Planning. The project involves the construction of an additional 82,000m² of indoor storage space next to Letališka cesta in Ljubljana. The ILT investment is estimated to be EUR 140m. The ILT location is exceptional as it is situated at the junction of two main European transport corridors (V and X). The location is also important for transit goods and as a supplementary hinterland terminal for goods which flow through the Port of Koper. ILT also represents a business opportunity for investors. It will provide for uninterrupted logistics services, open up new flows, connections with carriers, operators, ports and forwarding companies. Implementation will depend on various factors and it is expected to start in the second half of 2016."  Robi Košir Director, BTC Logistics Centre Business Unit "In the past 10 years, the BTC Logistics Centre has focused on specialised goods storage, commissioning and distribution services in Slovenia and abroad. At present, services are performed on 80,000m² of indoor storage by 300 employees, who daily ship7,000 pallets of commissioned goods on 200 freight vehicles. In 2015, we will generate revenue of EUR 25m. By expanding the business with existing partners and beginning cooperation with po-

tential partners, we plan to achieve 7% growth in 2016. We are specialists at taking over the storage logistics of our business partners and we will expand through taking over the logistics of new business partners in Slovenia, Italy, Austria and Croatia. We currently transport from Slovenia to all the neighbouring countries including Bosnia and Herzegovina, Serbia, Montenegro and Macedonia.

The Intermodal Logistics Terminal (ILT) Autumn Edition 2015 | The Slovenian Times

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Economy In the Spotlight Our managers need to be more inspired. Art makes you to become a good observer, to see more, feel more and hear more.

Professor Danica Purg, PhD , The founder, president and dean of the IEDC-Bled School of Management

Interview: Professor Danica Purg, President of IEDC-Bled School of Management

Economic and political leaders need the vision that "only the best is good enough"!

Prepared by Tina Drolc, M.Sc.

Q What served as the main impetus that, in the 1980s, led to the birth of the very first international school of management in Slovenia?

A The school was not my idea but the idea of the then president of the local Chamber of Commerce, Marko Bulc, who was positive that Slovenian managers were in need of more skills and knowledge to be able to compete on the global market. Knowing that I was ambitious and fluent in foreign languages, I was asked to found this school. Given that my aspiration was to become a university professor, his offer came as a surprise. At the same time, it also dawned on me that by founding a school of management – that I decided was to be international – I could also do something for my homeland. I conferred with CEOs of 51 companies to determine which knowledge was required. As Slovenian managers at the time were not very fluent in foreign languages, everything had to be translated given that the first seminar was already organised in English and contained lectures given by foreign professors. I have always held the belief that Slovenia needed to liaise and make comparisons on a global level and learn from the best foreign practices instead of having us explain our own stories to ourselves.

Q More than 75,000 students from 80 countries have attended programs held at your school in Bled. How does IEDC manage to preserve its competitive advantage with regard to a highquality education program on a global level?

A I am well-known for my zeal and high quality standards. I would never bring just anyone that I run into from abroad, but always top professionals with an exceptional amount of experience under their belt. I have also had the opportunity to be taught by great teachers and professors throughout my life at Harvard, INSEAD and the IMD School in Lausanne and I have never compromised when it comes to quality. My very first slogan was that "only the best is good enough" which I would always pass on to our colleagues and the broader public via our visiting professors from abroad and people educated at my school. This is how our recognition has come about. Many people were familiar with it despite never having heard of Slovenia before.

The founder, president and dean of the IEDC-Bled School of Management, Professor Danica Purg, PhD, has been the head of the first international business school in Slovenia for almost 30 years. Professor Purg, who has written the success story of a one-of-a-kind academic and business international network platform, started off this year by receiving the 2014 Lifetime Achievement Award from the Managers Association of Slovenia.

In 2010, she was awarded the prestigious 2010 Dean of the Year Award from the Academy of International Business for her outstanding achievements in international business education. She explains her lifelong commitment and future vision for the school (to promote internationalisation) with the following words: "I am thinking about the future because most of my life shall be spent there". Foreign participants account for 80% of the individuals enrolled in its educational programs.

Q How would you describe the competitive advantage milestones or factors which make sure that your school is always one step ahead?

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The Slovenian Times | Autumn Edition 2015

In the Economy Spotlight I have always held the belief that Slovenia needed to liaise and make comparisons on a global level and learn from the best foreign practices instead of having us explain our own stories to ourselves.

A Firstly, the study has always been held in English. I also determined that the situation in terms of managerial knowledge in the world was rather bleak. I therefore reflected upon what it was that our school could develop that could be of value. I set out to develop art and leadership and liaised with like-minded individuals. What I want to do is to make someone a better manager by learning to listen to music in a different way than before. At the beginning you hear just the noise, but listening in the true sense of the word happens when you imagine yourself in the shoes of your fellow man. For that purpose, our school has hosted English violinist Paul Robertson and the wellknown Slovene violinist, Miha Pogačnik. We also collaborate with the world-renowned director, Haris Pašović, who was born and bred in Sarajevo. IEDC provides this through its courses on emotional engagement and experiential learning. For 14 consecutive years, I would take managers of the largest company in the UK, BAE Systems, to Sarajevo where they were presented with the Bosnian war through the eyes of the local political and business leaders, children and youth. In a matter of four days, their sheer emotional shock triggered a change within as a result of which they wrote to their board about what should be changed in their company. We, as human beings, can only experience change if we are 100% emotionally engaged and the same holds true for organisations as well. It is then that you get to see imagery; this kind of artistic event can shock you, provoke you and inspire you simultaneously.

Our managers need to be more inspired. Art makes you to become a good observer, to see more, feel more and hear more.

Q Since 1993, when the Central and East European Management Development Association (CEEMAN) was born, it has managed to involve many world-renowned individuals. Could you share a few of those names and the stories that you have written together?

A I have discovered that the small size of a country can be used to your advantage if you have ideas. Twenty one years ago I founded CEEMAN, which brings together 220 schools from 55 countries. Last year, our board decided that it should no longer act as an association from only this part of the world, but as the International Association for Management Development in Dynamic Societies, which would facilitate support in establishing high

standards in management development in Latin America and Africa. Both the CEEMAN Association and the IEDC-Bled School of Management constitute a networking platform. I am positive that a conference that will be held in Kazakhstan will facilitate the conclusion of transactions between those who will end up meeting there. Many businesspeople continue to be invited to our school where they socialise and liaise. There has been increasing demand to bring people together. In Russia, I used to work as a Member of the International Advisory Board at the Moscow School of Management.

A dinner, attended by, among others, the Chief Executive Officer/ Chairman of the Board of Sberbank of Russia, Herman Gref, Roman Abramovič and also the now late father of Singapore, Lee Kuan Yew, was held and the Supervisory Board of the School was headed

by President Medvedjev. When you dine with such VIPs, they suddenly become accessible, the world is literally at your fingertips; you can achieve absolutely anything you set your mind to and you can say to anyone you please that you would like to stay in touch with them.

Q You have managed to build the visibility of IEDC from the very beginning, whereas the country it operates in still has to confront numerous challenges in this field. What “more” would you like to see from Slovenian leaders and what would be “the rest” that could be abandoned, if I were to remind our readers of your motto one more time?

A It is of great importance for Slovenian political leaders to have a vision, something that too rarely escapes their lips. The respective politicians governing the country rarely talk about their vision for the country. I remember organising a two-day seminar for the government of one of the Balkan countries; I was often told that their vision was to introduce VAT! Introducing VAT is by far not a vision! A vision is, for instance, that the country become an EU Member State in 10 years’ time, that all of its inhabitants are provided with the necessary living conditions, etc. This is something I want to hear from Slovenian leaders: where do they see our country in five or 10 years’ time and what kind of strategy is required to bring the vision to life! Then, communication!

Communication is a skill that Slovenian political leaders are severely lacking and by far and foremost; Slovenian leaders need to exhibit more honesty, integrity and self-confidence.

Dean of the year Award from the AIB, Rio de Janeiro, 2010

2014 Lifetime Achievement Award from the Managers Association of Slovenia.

The small size of our country is completely irrelevant. Look at modern-day Singapore! One single leader, the founding father of Singapore, Lee Kuan Yew, had an incredible vision thirty years ago: "We can do it". 

It is of great importance for Slovenian political leaders to have a vision, something that too rarely escapes their lips. The respective politicians governing the country rarely talk about their vision for the country. I remember organising a two-day seminar for the government of one of the Balkan countries; I was often told that their vision was to introduce VAT! Introducing VAT is by far not a vision!

Autumn Edition 2015 | The Slovenian Times

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Regional Insight in association with S&P

Regional Insight in association with S&P Ratings Services Real GDP Growth (%)

Unemployment Rate (%)

CPI Growth (%)

General Government Balance / GDP (%)

Net General Government Debt / GDP (%)

Current Account Net Narrow Balance / External Debt / GDP (%) CARs (%)

Slovenia 2014

2.64

9.70

0.37

(4.88)

71.28

5.77

72.01

2015

2.40

9.40

0.10

(2.90)

71.75

6.37

75.62

2016

2.00

9.20

1.20

(2.50)

72.63

6.31

74.77

2014

2.41

13.20

(0.10)

(2.87)

47.76

0.05

38.97

2015

3.00

12.50

0.20

(2.70)

48.27

0.35

44.51

2016

3.30

12.00

1.30

(2.50)

48.45

0.61

43.80

2014

3.58

7.70

0.02

(2.57)

72.88

3.97

41.27

2015

3.00

6.80

(0.30)

(2.60)

71.63

4.59

42.05

2016

2.40

6.00

0.00

(2.40)

70.51

4.86

36.31

Slovakia

Hungary

Slovenia In the most recent semi-annual review on June 19, 2015, Standard & Poor‘s Ratings Services revised the outlook on its 'A-' long-term credit rating for the Republic of Slovenia to positive.

Such revision reflects our opinion that the ongoing economic recovery in Slovenia will broaden further, benefiting fiscal outcomes. We believe that Slovenia‘s real GDP will likely rise on average by about 2.1% per year during 20152018, with the drivers of economic growth gradually shifting towards domestic demand.

The consequently more tax-rich growth is also likely to bode well for public finances. We expect gross general government debt to peak in 2016.

The prospect for investment depends on an improvement in credit conditions, which so far has been absent. We continue to view credit conditions as tight, reflecting Slovenia‘s challenged monetary transmission mechanism, de-

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The Slovenian Times | Autumn Edition 2015

spite the expansionary monetary policy stance by the European Central Bank (ECB).

We believe that the implementation of growth-enhancing structural reforms, including in judicial and administrative areas, could further boost Slovenia’s longer-term economic growth prospects. Although we consider that policy risks in Slovenia have receded since 2013, long-entrenched political patronage and weak-albeit gradually improving-institutional and corporate governance could hamper the pace and effectiveness of the abovementioned reforms, due to vested interests of incumbents in these sectors.

The positive outlook reflects a one-in-three probability of an upgrade over the next 24 months if the economic recovery broadens, and, combined with structural reforms, results in improved fiscal and debt metrics. We could revise the outlook to stable if economic growth is lower than we anticipate, damaging the policy cohesiveness of the government coalition, or if fiscal outcomes are markedly worse than our current expectations.

Regional Insight in association with S&P Slovak Republic

Hungary

On July 31, 2015, Standard & Poor‘s Ratings Services raised its long-term credit ratings on the Slovak Republic to 'A+' from 'A'.

On September 18, 2015, Standard & Poor‘s Ratings Services affirmed its 'BB+' long-term credit rating on Hungary with a stable outlook.

The upgrade reflects our view of Slovakia‘s accelerating growth momentum, which we expect will lead to continued improvement in the country‘s fiscal metrics, especially a gradually decreasing public debt burden and a lower interest burden, over our 2015-2018 forecast horizon. The rating is supported by Slovakia‘s low external indebtedness, strong growth, and improving fiscal metrics. The rating is constrained by persisting structural challenges to the Slovak economy, such as high structural and youth unemployment, as well as wide regional disparities. Although we assess policymaking in Slovakia as generally effective, we view its political institutions, and the checks and balances between them, as evolving.

We anticipate that general government debt will remain below 52% of GDP in 2015 and the government‘s interest burden will decrease over 2015-2018, aided by a decreasing debt stock and lower interest rates. Slovakia‘s mostly foreign-owned and deposit-funded banking system remains well capitalized, with nonperforming loans amounting to just over 5% of total loans.

The outlook on Slovakia is stable, reflecting our expectation that the government will continue to consolidate public finances and that growth will remain strong, supported by domestic demand. We could raise the long-term rating if Slovakia‘s fiscal consolidation leads to a significant and sustained improvement in its fiscal metrics beyond our current assumptions without resorting to one-off or non-orthodox policy measures.

We could lower the rating on Slovakia if fiscal metrics deteriorated relative to our baseline scenario, possibly as a result of higher-thanexpected pre-election spending. Moreover, if the recovery in the eurozone were to be weaker-than expected, putting a significant drag on Slovakia‘s growth prospects, the rating could also come under pressure. Lastly, a negative reassessment of Slovakia‘s institutional strength could weigh negatively on our rating.

The rating on Hungary reflects our assessment of its comparatively advanced economy, skilled labor force, and relatively well-diversified export structures. The rating remains constrained by what we consider to be a less predictable policymaking environment and still-high general government indebtedness.

The effect on disposable incomes of lower oil and gas prices, rising employment, a freeing up of households‘ precautionary savings as a result of the conversion of foreign currencydenominated mortgages into local currency, and lower debt servicing have all helped to strengthen household consumption. At 6.8%, the unemployment rate is the lowest it has been in a decade. We anticipate that a continuation of fiscal and monetary stimuli will support domestic demand and the Hungarian economy will grow by 2.4% on average in real terms between 2015 and 2018.

Since 2009, external deleveraging in the private sector has been considerable, thanks to the current account surplus Hungary has now operated for five consecutive years. We consider Hungary‘s competitiveness metrics to be strong and considerably less vulnerability to a potential rise in U.S. interest rates.

For 2015, we project that the government will come close to meeting its general government deficit target of 2.4% of GDP, but debt continue to climb as the government has prioritized its acquisition of utilities and banks over accelerating debt reduction.

The stable outlook balances our assessment of Hungary‘s stabilizing economy and relatively steady headline fiscal performance against its still-high general government indebtedness and generally less-predictable policymaking.

We could raise the ratings if the government pursued policies that encourage investment and promote sustainable growth, such that risks to its balance sheet and Hungary‘s monetary conditions eased.

Conversely, we could lower the ratings if Hungary‘s public finances weakened materially, most likely through an increase in quasifiscal activity, or if external vulnerabilities once again built up.

Sources: Standard & Poor’s Rating Services and Eurostat.

Please refer to our website for more information about ratings at https: www.spratings.com/corporates/ Understanding-Ratings-2.html and read our disclaimers at www.standardandpoors.com/en_US/ web/guest/regulatory/legal-disclaimers Copyright © 2015 by Standard & Poor’s Financial Services LLC. All rights reserved.

STANDARD & POOR’S and S&P are registered trademarks of Standard & Poor’s Financial Services LLC.

Autumn Edition 2015 | The Slovenian Times

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Economic Review Bank Asset Management Company can ensure this. The recent reform of the insolvency regulation should also help, which should be complemented by training judges and insolvency administrators and making out-of-court restructuring faster and more attractive.

Fiscal sustainability is important Sustainable public finances are also crucial for preserving macroeconomic stability and sustaining investment. Excessive growth in public expenditures and debt could again raise country risk and the cost of sovereign financing, hurting private investment. A new pension reform to curb rising public pension expenditures is urgently needed. Equally important, measures to increase efficiency of spending in education, health care and public administration are also important in this regard.

Less regulation, less state ownership and lower taxes on labour

Organisation for Economic Cooperation and Development (OECD).; Photo: Tamino Petelinšek/STA

Investment environment

Improving investment environment in Slovenia The article is based on findings from the OECD Economic Survey of Slovenia, released in Ljubljana in May 2015 by the Secretary General.

Investment dropped substantially with the crisis Investment dropped substantially following the 2009 crisis, dragged down by a loss of confidence, deleveraging in the corporate sector and a banking crisis. Since then, important reforms have been implemented, including fiscal consolidation, pension reform, labour market reform, restructuring and recapitalisation of banks, and initiation of privatisation procedures. These have raised the credibility of Slovenia in the financial markets, boosted confidence and helped restore competitiveness.

Slovenia returned to growth in 2014.

The recovery, however, is fragile and subject to risks. While exports are the main driver, growth relies heavily on public investment funded by the EU Multiannual Financial Framework. This will come to an end in 2015,

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reducing public investment, while corporate investment is improving only slowly. To support private investment, further policy steps and structural reforms are needed.

Healthy banks and corporations can boost investment Since the restructuring of the banking sector at the end of 2013, banks have returned to profit and they are now well capitalised. However, credit growth remains weak due to the still elevated share of bad assets in bank balance sheets and deleveraging in the corporate sector. All this is holding back private investment.

Swift restructuring of companies and effective liquidation of bad assets would facilitate reallocation of resources tied up in non-performing assets to new, profitable investments.

An effective, independent and transparent

Slovenia should improve its business environment to boost investment and attract more foreign direct investment. The social security contributions and income taxes result in a high tax burden on labour, especially for high earners.

This may deter investors that employ a highly educated workforce, often in high value added industries. Tax burden should move away from labour to taxing real estate and consumption.

The complexity of regulatory procedures and administrative burdens on enterprises are high and should be reduced. In particular, Slovenia should make obtaining construction permits and registering property faster.

Public ownership is widespread in Slovenia, while the profitability of stateowned enterprises is low and corporate governance and management practices are weak. Slovenia has recently privatised some enterprises and set up a public asset management strategy. Continued privatisation and improvements in corporate governance would raise profitability, make markets more competitive and attract more investment from abroad. In turn, this will raise growth, incomes and living standards.

Urban Sila Economic Department, Organisation for Economic Cooperation and Development

Economic Review

Slovenia’s international investment sub-factor ranks at 59th Despite achieving a sound market economy and a peaceful transition process of political power, Slovenia’s investment landscape presents a mixed picture.

The 2015 IMD World Competitiveness Yearbook highlights some key issues that negatively affect the Slovenian investment environment and contribute to a somewhat adverse image abroad of the country.

Slovenia’s trade to GDP ratio remains strong. Similarly, the international trade sub-

The Economist Intelligence Unit’s view of Slovenia’s investment climate With GDP at purchasing power parity (PPP) at 83% of the EU average in 2014, Slovenia’s economy is the second most developed out of the east European EU members states (the Czech Republic is first).

However, this is down from 91% of the EU average in 2008. Private consumption returned to growth in 2014, following two consecutive years of contraction. Private consumption will pick up moderately over the forecast period, increasing market opportunities. Nonetheless constraints on lending, owing to the negative fallout from the 200809 financial crisis and

factor ranks high at 18th (of 61 economies) in the Yearbook’s ranking. Slovenia’s international investment sub-factor, however, ranks at 59th. The country’s basic and technological infrastructures also rank relatively low (40th and 43rd respectively). In the overall competitiveness ranking, Slovenia ranks 49th.

Capital markets dynamics show the same fluctuating pattern. Direct investment flows (inward), stock market capitalization and banking sector assets (all as percentage of GDP) have increased since 2011 while investment risk sharply declined in the same period.

The adequacy of the finance and banking regulation remains low despite the fact that it has been steadily improving since 2013. In addition, the rather weak regulatory compliance and protection of shareholders’ rights exacerbate the country’s investment environment.

Data gathered trough the IMD executive opinion survey further underline such trends.

Executives consider that limited policy stability and predictability, a weak legal environment and competitive tax regime are among the major issues that Slovenia experiences. They perceive that such issues lead to an increasing threats of relocation of production, services and R&D facilities.

According to survey participants, companies’ agility or their adaptability to industry/ market trends remains low. In addition, corporate boards fail to effectively fulfil their supervisory duties (i.e., supervise the top management of firms). There is also a sense that the adequacy of the auditing and accounting practices is somewhat limited.

The highlighted issues, in addition to increased competition from non-European economies, could make it harder for Slovenia to continue to attract FDI. Nevertheless, the country’s current plans to enhance its financial regulatory framework could act as a catalyst for the general improvement of its investment environment.

the relatively small size of the market, will constrain opportunities in 2015-19.

Slovenia’s score in The Economist Intelligence Unit’s business environment rankings improves in 2015-19 and the country rises one place in both our regional and global rankings, to fifth (out of 16) and 34th (out of 82) place, respectively. Slovenia’s ranking reflects a positive historical inheritance of political effectiveness, compliance with international trade and exchange controls—helped by EU and euro zone membership—and solid investment in infrastructure. Slovenia’s relatively poor score for policy towards foreign investment remains unchanged for the forecast period. The score is weighed down by the government’s favouritism towards domestic ownership, especially of companies deemed strategically important.

Macroeconomic stability was badly hit during the global economic downturn, but it is set to improve as bank restructuring is completed and debt levels gradually decline. Improvements in the categories covering the macroeconomic environment, market opportunities, the labour market, the tax regime and infrastructure will more than compensate for a fall in the scores for the categories for financing and political effectiveness. Slovenia remains a strong democracy, but the country’s once fabled political stability has evaporated in recent years and problems with corruption have become more apparent.

The economic recovery strengthened in 2014. Real GDP grew by 2.8%, following two consecutive years of economic contraction.

We forecast annual average real GDP growth of 2.3% in 2015-19, supported by strong net exports and the continued recovery in private consumption. This is much slower than the growth rates registered in the period before the financial crisis. Inflationary pressures will remain subdued through the forecast period, helped by lower global oil and food prices. Fiscal consolidation will continue, and the risk of further bank recapitalisation has receded. The current account returned to surplus in 2011, and will remain in surplus throughout the forecast period as external demand picks up and imports are more sluggish owing to lagging domestic demand.

Dr Jose Caballero Senior Economist IMD World Competitiveness Center

Autumn Edition 2015 | The Slovenian Times

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Slovenia Business Challenges Investment Climate Vojmir Urlep MSc, President of the Board of Management, Lek, a Sandoz company TST: What are the main reasons for this successful FDI? What are the procedures for dealing with Slovenian administration and consequently, how is the business environment?

The first reason why this investment has been given to Lendava is because it is in an excellent location (within a 500km radius there are many capital cities from the region). Secondly, the infrastructure is good, it is close to a highway and thirdly, Lek’s associates at Lendava have the knowledge and experience and are able to handle the most demanding technologies.

Lek, a Sandoz company, has proven that with extensive knowledge, experience and the commitment of its employees, it can successfully operate as a part of a global organisation and represents an important component of the success of the second largest manufacturer of generics in the global market where the principles of relentless competition apply.

Holger Postl CEO, TAM-DuraBus TST: TAM DuraBus is writing a successful Foreign Direct Investment story in Slovenia. How much has the investment been since 2013 and who is / are the investors?

Considering the odds of reviving bus manufacturing under a brand which had disappeared, the FDI project was prepared over a period of several years prior to its start and finally implemented under the ownership of CHTC China Hi-Tech Group Corporation and can be considered a success for both the investor and the local community. More than 200 people have been employed since the project was started and by our estimate, the same number of jobs were also created for local suppliers.

Even more important than the initial investment, which exceeds EUR 20m, is the successful market penetration and the technological path of TAM. Obtaining market leadership in the airport bus segment in 2015, with an overall export rate of nearly 100 percent and being considered as the high-quality choice in the most demanding markets throughout Europe, including the UK, Ireland and Spain, the marketing strategy of the company is proving to be effective. With the development of new generation electric city buses, which have the potential to revolutionise the sector, TAM is as a consequence preparing for the next stage of expansion.

TST: What are the main reasons for the success? What about the Slovenian administration and consequently, the business environment?

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The Slovenian Times | Autumn Edition 2015

TST: Over the last 10 years you have invested more than EUR 10m in to the development and modernisation of your production capacity in Lendava.

What has been the value created?

This has created many jobs in a company that successfully competes in global markets in one of the most propulsive industries.

Since this is an intensive industry, we continuously care for the development of human resources and bring new knowledge into the local environment. We collaborate with local organisations for which we are necessary and important partners, particularly in the times of financial and economic crisis. We work together with the local community on common projects, such as the Lendava Wastewater Treatment Plant.

Being a socially responsible company, we also support local NGOs and projects in the local environment.

TST: Where does Lek estimate the potential for FDI in the future?

As with all business operators, Lek, a Sandoz company, also looks forward to the potential short and long-term expansion of all our operations across Slovenia. We explore different scenarios and we are looking for the best possible solutions for our further development.

However, we wish that the Slovenian government would establish a predictable, transparent, non-discriminatory and investment (also foreign) friendly business environment in order to simplify the labour legislation which would enable a flexible labour market – flexibility in hiring and firing - and create a competitive taxation environment / reduce labour costs.

It should be noted that it is very important that the local environment also looks to the future and creates the appropriate conditions for further growth of business operators in that environment, both with regards to municipal infrastructure as well as in other areas which are a prerequisite for new investments. 

The positive development of TAM and therefore the attraction of the necessary FDI can be attributed to a sound strategic approach and the consequent implementation of focusing on certain niche products and markets, enabling a medium-sized start-up to achieve relevant sales volumes in a very demanding and competitive market. While Slovenia offers a good enough platform when looking at various location factors, the top-level state administration directly involved in the attraction and promotion of FDI has not been able to further promote or support this FDI project, despite the fact that its China’s biggest investment in Slovenia. With several promises not fulfilled and government resolutions on FDI subsidies not respected by the Slovenian administration, one could say that TAM is successful despite the FDI policy of Slovenia and not because of it.

TST: Where does your company consider there is potential for FDI in the future?

The Slovenian economy is dominated by small and medium-sized enterprises (SMEs), which have successfully promoted an entrepreneurial spirit in the private sector. However, the large public sector with major companies and industries still directly or indirectly influenced by the state, fails to perform as the trigger for those SMEs in the private sector.

Combined with major restrictions in access to capital, the task for SMEs is a very difficult one today. Consequently, the potential for FDI can be seen in almost all major sectors of the Slovene economy, and since the assumption that foreign owners are better than no owners - referring to the wave of bankruptcies the country has seen over recent years - holds true for Slovenia also, fears of a sellout should belong to the past. And while tourism is certainly important for a beautiful country like Slovenia, the current focus in attracting FDI should go beyond this sector. A strong industrial and manufacturing base always facilitates the establishment of high-tech and service-based industries as buyers of their ideas and services. Yet another castle sold might fail to provide the same. 

Economy Interview: Jerneja Lampret, The Commissioner-General of Slovenia for Expo Milano 2015

Expo is a great opportunity which we are fully utilising Prepared by: Medeja Kenda

Jerneja Lampret is the Commissioner-General of Slovenia for Expo Milano 2015. From 1 May to 31 October 2015, Slovenia is present at the World Exhibition in Milan with its own pavilion and the slogan, ‘I Feel Slovenia.

Green.Active.Healthy’. As she explains, slightly more than 700,000 visitors have already visited the Slovenian Pavilion and at the same time, she highlights that it is important that Slovenia is remembered. “The networking has already resulted in a few visits to Slovenia”.

Q What is the reputation that Slovenia has built at Expo Milano 2015? Have we built Slovenia’s image globally?

A It is a major challenge to stand out in the company of the 145 countries exhibiting at Expo. The formula for success begins with people; the team which operates within the framework of the Slovenian Pavilion. Despite the large number of visitors at the pavilion, we believe that it is more important that they remember us. One of the reasons is that, on entering the pavilion, visitors get a green I Feel Slovenia heart-shaped sticker and based on the information from representatives of other countries, not only is Expo swamped with these green hearts, but visitors are later seen with them at the metro and even in the centre of Milan. The I Feel Slovenia sign is also very important for marketing. Visitors to the open theatre, which is located behind the Slovenian Pavilion and accepts up to 13,000 people, notice it. All this combined has a positive impact when it comes to the recognition of our national brand as well as for strengthening the reputation of Slovenia in the world. Expo is a great opportunity which we are fully utilising.

Q How many companies have participated so far? Have the expectations been fulfilled?

A There are currently 839 Slovenian companies involved in conjunction with Expo Milano 2015, but the number is changing daily. The most active companies at Expo, so far, have been Lina Design, Lotrič meroslovje, Sava Turizem, Žito Ljubljana, Zavarovalnica Triglav, Agencija Sonček, Duol, Združenje slovenskih naravnih zdravilišč, Združenje za lesno industrijo, Varis Top, Kogast Grosuplje, Kmetijska zbornica, Hit, Adria Mobil, SIJ and others. The unique thing about the project is that we have also been able to obtain sponsorship funding.

It was initially just a symbolic but it is now having a financial impact. In line with the contracts, we should receive around EUR 88,000.

already travelled to Slovenia after visiting the pavilion. Networking is also very important in commercial circles. Practically each independent pavilion has at least one economic representative and many Slovenian companies have, with the help of the Slovenian Pavilion, benefitted through this network. The fact that Expo operates for six months is very important when it comes to networking between employees of different countries aa this enables not fleeting relationships but rather strong ties which represent substantial capital for the future.

Q What were the costs? Will the story end in Milan or do you have further plans?

A The entire Slovenian budget for Expo stands at EUR 5m and, as we are near the finish line, we can safely say that we will not exceed it. We are proud that even though our financial resources are significantly lower than those of other countries with independent pavilions, we are still an equal player compared to them. Even countries like Russia, UAE and the USA, who have invested around EUR 200m in their Expo projects, see us as equals.

Q How many people have visited the Slovenian Pavilion so far and what has been their response?

Can you share some statistics with us?

A So far, more than 700,000 people have visited the Slovenian Pavilion. When it comes to data, I would like to point out that what really counts is the fact that people leave our pavilion with a positive feeling and a desire to visit Slovenia as soon as possible. 

Jerneja Lampret, The Commissioner-General of Slovenia for Expo Milano 2015

Q Has the networking shown any positive effects as yet? Can you share any good stories with us?

A There really is a lot of networking going on which has already resulted in a few visits to Slovenia. One of the employees of the Japanese pavilion, the wife of a US Commissioner, and a family from the United Arab Emirates have

Record number of visitors at the Slovenian Pavilion, 12 September 2015

8,124 visitors (this is the maximum capacity that the Slovenian Pavilion can accommodate)

Record-breaking day for Expo, 12 September 2015

240,000 visitors

Total number of visitors to the Slovenian Pavilion

Slightly over 700,000 visitors

Total number of visitor at Expo to 31 August 2015

Slightly less than 14 million visitors Autumn Edition 2015 | The Slovenian Times

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Economy

European Commission Vice President Jyrki Katainen, Prime Minister Miro Cerar.; Photo: Tamino Petelinšek/STA

Finance Minister, Governor Meet EU to Help Slovenia with Second Rail IMF Officials and Private Investors in Project, Commissioner Says Prime Minister Miro Cerar and European Commission Vice-President Lima Finance Minister Dušan Mramor and the Governor of Slovenia’s Central Bank, Boštjan Jazbec, held a series of discussions with senior officials from the International Monetary Fund (IMF) and the World Bank and also with foreign investors on the sidelines of the IMF’s annual meeting. According to the Finance Ministry, the talks with the IMF officials were about annual cooperation with the fund, the situation in Slovenia’s banking system and the effort to reduce non-performing claims, as well as IMF quota reform and the global economic situation.

Exports Expand by 5.3% y/y in August Slovenia’s merchandise exports rose by 5.3% to EUR 15.61bn in the eight months to the end of August from the same period in 2014, while imports increased by 3% to EUR 15.16bn, according to official figures.

This puts the country’s trade surplus at EUR 443m and the export-import ratio at 102.9%, according to a report from the Statistics Office. The volume of trade is, as a rule, at a low in August and this year EUR 1.56bn of goods were exported, 2.1% more than in August 2014; imports were flat at EUR 1.63bn.

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for Jobs, Growth, Investment and Competitiveness Jyrki Katainen discussed the Commission's investment plan and Slovenia's plan to build a second rail track between the ports of Koper and the inland hub of Divača.

Katainen offered help from the European Commission in the drafting of the project, which is to vie for EU funds. The project is relatively complicated and the Commission is working on strengthening the counselling to member states, he told the press.

Slovenia would get help from experts at the European Investment Bank (EIB) and the Commission, said Katainen. Slovenia has already enlisted the help of the EIB and the Organisation for Economic Cooperation and Development (OECD) for the second track project.

Bosnian Firm Acquires Ljubljana Builder MG Mind, a Bosnian firm headquartered in Banja Luka, acquired Slovenian builder KPL, a major player in the construction sector in the Ljubljana area, for EUR 7.9m. The firm was sold at an auction as part of the bankruptcy estate of Cestno podjetje Ljubljana with MG Mind outbidding Slovenia’s largest construction firm, Pomgrad. The media reported the deal, which is waiting for clearance from the bankruptcy court, as controversial given that MG Mind is on the World Bank blacklist over suspicions of corruption.

Economy

Michael Horn, CEO, Volkswagen USA; Photo: Xinhua/STA

VW to Recall 34,300 Cars in Slovenia Over Emissions Software Stojan Petrič, Kolektor Group; Photo: Kolektor

Kolektor Acquires Swiss Customised Electric Drive Maker Kolektor, the Idrija-based industrial conglomerate, acquired a 51% stake in Micro-Motor, a Swiss developer and producer of customised electric drives, and is already moving Micro-Motor’s operations to Slovenia. The company is valued at around EUR 10m, but Kolektor has not disclosed how much it paid. Kolektor said that development, production and the administration of the Swiss company would be relocated. The acquisition will strengthen the company’s electronics and drives program and secure additional jobs - currently around 50 - in Idrija.

Slovenian, Russian Businesses Fostering Ties In October, a business delegation from Russia’s Yaroslavl region visited Slovenia. The Government Secretariat-General in Ljubljana hosted a round table debate on enhancing cooperation between Slovenian and Yaroslavl companies followed by networking.

More than 30 officials from 23 Slovenian companies visited Yaroslavl in September 2014 and the Russian delegation returned the visit to strengthen ties between the Slovenian and Russian businesses, SPIRIT stated in a press release. The Agency sees business opportunities in Yaroslavl for innovative and high-tech Slovenian companies. Possible areas of cooperation include public infrastructure, telecommunications, IT, metal and automotive industries, pharmaceuticals and medical equipment, food and tourism.

There are also opportunities for joint projects in the wood industry, as both Slovenia and the Yaroslavl region are rich in forests, the Agency said. Although one of Russia’s smaller regions, Yaroslavl has quite strong industry, especially wood-processing, rubber and the automotive sectors, and agriculture.

In Slovenia, Volkswagen will recall nearly 34,300 cars with the contentious emissions software. The majority will be Volkswagens, but several thousand Škodas, Audis and Seats are also affected, said Porsche Slovenia, the national Volkswagen dealer. Owners of the affected vehicles will be advised about the special service shortly and they can also check whether their car is equipped with the contentious software on the Slovenian webpages of the respective brands.

Postal Company Acquires Publisher’s Logistics Business Pošta Slovenije, the national postal company, acquired the logistics business of Mladinska knjiga, the country’s primary publisher, in a deal worth around EUR 13m. “The acquisition makes us the third biggest logistics firm by warehousing capacity in Slovenia,” Pošta Slovenije General Manager, Boris Novak, told the press.

The company plans to leverage the new capabilities to expand its parcel delivery and supply chain business, which has been constrained by lack of warehousing space. The Mladinska knjiga logistics division performs logistics services for the publisher as well as third parties and is profitable. It also has a vacant lot adjacent to its main warehouse in Ljubljana that allows for further expansion. The new logistics business is projected to generate revenue of approximately EUR 5m per year. Ljubljana-based Mladinska knjiga plans to now focus on its core publishing and bookshop business, according to Chairman Peter Tomšič.

Pošta Slovenije; Photo: Tamino Petelinšek/STA

Source: STA Autumn Edition 2015 | The Slovenian Times

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Economy Interview: Polona Domadenik, Ph.D.

Extortion and systemic corruption in Slovenia should be perceived in the broader context Prepared by Tina Drolc, M.Sc.

Polona Domadenik, Ph.D.

Our research demonstrated that a higher share of politically connected supervisory board members leads to a lower total factor productivity of the firm, ceteris paribus.

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The Slovenian Times | Autumn Edition 2015

Polona Domadenik, Ph.D., is a full professor and Vice Dean at the Faculty of Economics, University of Ljubljana. Her research relates to the postprivatisation restructuring of firms in transition economies and labour economics. In this interview, she presents her research on how political corruption, linked to political connectedness, affects corporate governance and the performance of partially or fully state-owned enterprises. The results stress the negative effect of the prevalent form of political corruption that is found in many emerging market economies and open an important issue for discussions on privatisation.

Q Your research "Corporate governance and productivity in state owned firms in Slovenia: The role of political connectedness" highlights the role of the inefficient corporate governance system in state-owned firms, in Slovenia, from 2000-2010.

How was the research undertaken?

A We used data on virtually all the medium and large firms in Slovenia and measured the firm’s political connectedness by the share of politically-connected individuals on its supervisory board. The sample was drawn from nonfinancial, joint-stock companies and holdings that existed in Slovenia during 2000-2010. All the firms employed more than 50 employees and had an either one or two-tier corporate governance system.

The data was obtained in three phases.

From the Agency of the Republic of Slovenia for Public Legal Records and Related Services, we collected publicly available data about supervisory board members (first and last name, board position, home address and country of residence). We were able to collect complete data on 308 of the 384 firms that existed in the group of non-financial joint-stock companies

and holdings. The resulting database included 3,668 supervisory board members.

We complemented the official source of supervisory board member identification with reliable internet sources to obtain data about the board members political affiliations and other personal characteristics. We started by scanning online election registers to match the names and addresses of political candidates with information from our supervisory board database. For the matched individuals we enlarged our data-set with information about their political affiliations and year of birth.

In the third phase, we matched our database of supervisory board members with financial data from balance sheet and income statements for the 308 selected firms. After excluding firms with no balance sheet data available, we ended up with an unbalanced set of 251 firms with 2,712 firm-year observations on all members of the supervisory board, balance sheet and income statement records.

Q What, in fact, are the main consequences of political corruption that resulted in the political

Economy Obviously, fees in state owned firms trigger certain types of behavior. connectedness of firms, which in turn had a negative effect during 2000-2010?

A Our research demonstrated that a higher share of politically connected supervisory board members leads to a lower total factor productivity of the firm, ceteris paribus.

Appointing one politically connected board member in a five-member supervisory board would decrease productivity in the next year by 2.3 percent on average in the following year and by 9.6 percent in the long run. Based on point estimates, the productivity loss for the group of firms with one or two-tier corporate governance systems amounted to EUR 109.7m per year.

Our results stress the negative effects of the prevalent form of political corruption that is found in many emerging market economies and opens an important issue for discussions on privatisation. Extortion and systemic corruption in Slovenia should be perceived in the broader context by incorporating corporate governance mechanisms in firms directly or indirectly owned by the state or municipalities. The power of the government can illegitimately be used to appoint party members or affiliates, without adequate competencies, to the supervisory boards of state-owned firms as a reward for previous political engagement or as a purpose vehicle to extract fees. Either reason results in lower productivity and harms the economic position of the country in the long run.

However, political corruption will presumably be reduced as democratic institutions became stronger and able to punish corrupt behavior. If the development of democratic institutions in "young" economies is slow and political connectedness of firms is spreading fast, a superior short term solution may be carefully implemented in the privatisation of the remaining state owned firms.

Q In 2013, the Slovenian parliament earmarked 15 firms for privatisation, so far four have been sold. Slovenia has been reluctant to sell its major companies over recent decades. Was the reason not the lack of good business leaders but the political connectedness of firms?

A It is difficult to give a definite answer. Obviously, fees in state owned firms trigger certain types of behavior. The 'elite' that work "behind the scenes" are very proficient in abusing the traditionally negative Slovene attitude toward foreigners and so have manipulated public opinion over the last two decades. The government and agencies specialising in the governance of state-owned firms (AUKN from 20102012 and the Slovene Sovereign Holding - SDH

since 2013) did not implement clear benchmarks for the profitability of firms owned by the state.

The first attempt to establish benchmarks was made with the approval of the recent strategy for managing state-owned firms that was finally approved by the parliament in July 2015. This is the first document in the last 25 years that clearly paves the way for efficient and transparent governance in state-owned firms.

It would be interesting to see what the consequences will be for those management boards that do not meet the targets set by the owners and clearly written in the strategy. Only then will people start wondering who appointed the managers that don’t meet the profit targets and at this point, the system of recruitment will become more responsible and we will be better off as a society.

Q What should we learn from the completed privatisations (NKBM, Mercator, Aerodrom Ljubljana) or be aware of in future (e.g. NLB) privatisation processes?

A The most important factor in the process of privatisation is transparency of the entire process, accountability and a clear communication strategy with stakeholders. The citizens of Slovenia are important stakeholders and most of them perceive state-owned firms as "property" for future well-being. We can understand their fears, as we have numerous examples of underperformance in state-owned firms, sometimes connected with criminal acts. Firms should be efficiently managed in order to survive in the long run and provide employment for local people. If the government is serious in its plans and future privatisation, it would be very positive in terms of public opinion if they provide facts about firms that have been privatised since 2014 and present them publicly.

Q If we consider the bad bank concept that has been used successfully in Sweden but where Slovenia needs to improve according to the operations of the state-owned investment firm, SDH, which is coordinating the privatisations…

A The model of the Slovene Bad Asset Management Company (BAMC) is based on the experiences from Ireland and Sweden at the beginning of the 1990’s. The Swedish "bad" bank generally serves as the benchmark of how to deal with non-performing loans, but we have be aware that it was during a period when the countries didn’t have serious financial problems and Swedish firms didn’t face a serious contraction in aggregate demand.

There was a market for non-performing loans.

In total, the costs amounted to about 2 percent

of GDP. In Ireland, the National Asset Management Company, established in late 2009, paid EUR 32bn to buy loans with a face value of EUR 74bn from Irish banks. They sold about 90 percent of the assets to the U.S. and the investors are expecting to make up to EUR 1bn in profit by the end of the decade at the end of its operation.

The most positive reason for establishing a bad bank is to deal with non-performing loans efficiently, which could otherwise take many years and therefore limit banks in their credit activities. However, there is always criticism which is mostly due to the extra burden put on taxpayers and nationalising the loss that happened due to an underestimation of the risk associated with particular borrowers. The costs of setting up such a bad assets management company and advisory fees might be very high and measured in millions. If assets are mispriced, the rewards of recovery are reaped by private investors. Therefore, it is important to have good management in the BAMC which is capable of selling the assets at the highest price possible despite the higher initial costs. At the end of the process, which should not be more than 10 years, the final balance is important.

The whole process should prevent earning extra fees by private investors. 

We have numerous examples of underperformance in state-owned firms, sometimes connected with criminal acts.

The costs of setting up such a bad assets management company and advisory fees might be very high and measured in millions.

Autumn Edition 2015 | The Slovenian Times

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Economy

VivAir production line in TAM Durabus, Maribor; Photo: TAM Durabus

Despite economic recovery and improvement in labour market conditions,

lending activity remains weak

Euro area GDP growth in the first half of 2015 was in line with expectations. In the second quarter, GDP increased by 0.3% (seasonally adjusted) and was 1.2% higher than in the same period of 2014.

Most confidence indicators for the euro area indicate a continuation of the recovery in the second half of the year: the Economic Sentiment Indicator (ESI) is the highest since 2011 and the PMI continues to indicate a positive trend. The lower value of the Ifo Economic Climate Index, on the other hand, indicates uncertainty about developments in the second half of the year.

Uncertainty is also reflected in ECB projections, which, at the beginning of September, lowered slightly its economic growth forecasts for the euro area (2015: by 0.1% to 1.4%; 2016: by 0.2% to 1.7%).

Favourable economic developments in Slovenia continued in the second quarter; in addition to exports, private consumption was a significant contributor to GDP growth. GDP rose by 0.7% (seasonally adjusted) and was 2.6% higher year-on-year. Despite a further moderation in year-on-year growth, exports remained the main driver of the recovery, which was reflected in further growth in value-added in manufacturing. Household consumption picked up more notably this year with the improvement in the labour market situation and the relatively high value of the consumer confidence indicator. Purchases of durable goods increased further, and purchases of

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The Slovenian Times | Autumn Edition 2015

other goods also rose for the first time in a long period. In contrast, construction investment has been decreasing for the past three quarters after the strong growth from mid-2013. In the first half of this year, real GDP reached 95% of the average level in 2008 (the lowest level was in 2013: 90.6%).

In the second quarter, the number of employed persons rose further; the number of registered unemployed was down again in August. In the first half of the year, the number of employed persons was up in most areas of the private sector, which also recorded higher indicators of economic activity than for the same period last year. The number of registered

unemployed is falling slightly more slowly than at the beginning of the year owing to a smaller outflow into employment. At the end of August, 107,935 persons were registered as unemployed, 6.0% fewer than in August 2014.

Average gross earnings per employee rose further in the second quarter (by 0.3%, seasonally adjusted), but year-on-year growth in the first half of the year (0.5%) was half lower than in the same period of 2014. This is explained by modest growth in private sector earnings, which is, amid a higher number of workers with relatively low earnings, largely the result of changes in the employment structure.

In August, consumer prices were down year-on-year again. The continuation of yearon-year deflation (-0.3%) was again the result of lower prices of liquid fuels due to the yearon-year fall in the euro price of oil in global markets. For some time, deflationary movements have also been impacted by lower prices of other goods, mainly durables. Food prices remain up year-on-year owing to the higher prices of unprocessed food. Growth in service prices has slowed notably in recent months.

Core inflation remains lower than in the euro area, reflecting lower growth in both service prices and prices of non-energy goods.

The domestic non-banking sectors continue to deleverage. In the first seven months of 2015, enterprises repaid less while NFIs repaid more than in the same period of 2014.

Household loans (where new lending for housing is on the increase) and government loans have expanded this year. The growth of household deposits is slowing year-on-year as a result of low interest rates. The low lending activity of Slovenian banks is accelerating the decline in net interest receipts of the banking system and thus slowing the reduction in the share of nonperforming claims. This share has stabilised at around 11.5% in recent months, but its further reduction will require higher lending activity and an increase in the proportion of new, highquality claims.

The general government deficit (EUR 664m) in the first half of the year was slightly lower than in the same period of last year resulting from increased tax revenues and social contributions related to the improvement in labour market conditions, better performance of companies in 2014, the strengthening of private consumption and government measures. The main factors in 2015 growth remain corporate income tax and value added tax. Expenditure rose less than revenue. Among expenditure categories, current expenditure and investment expenditure were up. ď ´ The Institute of Macroeconomic Analysis and Development of the Republic of Slovenia

Economy

Daniela Bervar Kotolenko, CEO of BIC; Photo: Mediaspeed

The Business Intelligence Center (BIC) operates as a business club for professionals to network with interesting business partners, from various business spheres, at organised forums, conferences, speed networking, educational events and casual meetings. The centre operates three divisions: the Business Intelligence Club, Business Intelligence Congress for education and the internationally focused IAMPRO, International Association of MBA Professionals.

Mission BIC works as a business club for networking and lobbying with sections for business professionals, female professionals and the international section, IAMPRO. The centre utilises the network to search and connect the Slovenian economic spheres (head-hunters, investors, business clusters) and other spheres of interests, with a focus on education and networking.

Members include professionals, managers, directors and entrepreneurs employed in the Slovenian economic and business spheres. We connect our members with other members to assist in the realisation of certain business ideas and opportunities.

For their membership fee, members are provided with regular contacts and events focusing on education, networking and interesting opportunities for business cooperation.

Networking BIC members meet with interesting business partners from various business spheres at organised forums, conferences, networking events, educational events and casual meetings.

"The Business Intelligence Center was established in 2014 with the purpose to connect various business spheres and enable quality networking for business people, focusing on new business acquisition and business friendships. BIC strives to make new approaches in business events, making them as innovative and useful as possible, with short and interesting lectures, a lot of new knowledge and even more business cards exchanged", explains Daniela Bervar Kotolenko, CEO of BIC.

International reach Within this international section many interesting gatherings take place each year – an international gala ball with the MBA awards ceremony, where the international business community meets and networks, as well as the MBA fair with international guests from various business schools. This year, an international business summer camp is planned, along with a series of international gatherings hosting embassy representatives, international guests and speakers.

Join BIC events or network with us – send a request via info@bi-center.eu or visit www.bi-center.eu!

Autumn Edition 2015 | The Slovenian Times

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Economy

Management Congress 2015:

Let’s look to success The Management Congress, which has been organised by the Managers’ Association of Slovenia since 1991, is today one of the most respected gatherings of Slovenian managers and media. It is the place where the 250 attending top managers have the opportunity to network, participate and listen to expert opinions. The focus of the 2015 congress was the megatrends and dynamics that will lead to successful business results in the next 10 years.

On 24-25 September 2015, the Managers’ Association of Slovenia invited 16 interesting speakers and guests to Portorož, including four international speakers. In addition to a provocative lecture from Garry Jacobs, Chief Executive Officer of the Academy and Chairman of the Board & CEO of the World University Consortium, who challenged the participants with the statement that “each company has the potential to double profit in two years”; attendees also had the opportunity to hear Dr Stephan Sigrist, the founder and head of a Swiss think-tank and to three amazing presentations on megatrends including: the Internet of Things; the Future of Work; and People Power.

Manager of the Year 2015: Matjaž Merkan, General Director, Swatycomet A good vibe was apparent among the management who attended on the first day, when the gala dinner awards for Manager of the Year and Businesswoman Friendly Company, were bestowed.

For the first time, both awards went to the same company – Swatycomet, with General Director, Matjaž Merkan, receiving the Manager of the Year 2015. Swatycomet is a manufacturer of high quality artificial abrasives and technical fabrics operating predominately in foreign markets. They export 94% of their output to 84 counties. Since 2012, return on equity has risen 10.8 % and company debt has been reduced by more than 40%. The revenue is forecast to increase 8% and profit eightfold in the next three years. Most impressive is that in a male dominated sector, 40% of Swatycomet employees are women and 40% of the leadership roles are held by women. 

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The Slovenian Times | Autumn Edition 2015

Economy Interview: Dr Stephan Sigrist

Algorithms will not come up with models that actually reflect the real world Prepared by Tina Drolc, M.Sc.

Dr Stephan Sigrist is the founder and head of the W.I.R.E. think-tank. His focus is on interdisciplinary developments in the life sciences and long-term trends in business and society. He has written many books and publications, and advises companies and political institutions on strategic issues. Based on his research, Dr Sigrist explains the importance of being able to see the bigger picture in our lives despite our thinking that digitalisation and ‘big data’ provide us with everything we need to know.

Q The view of an intelligent world, that constantly optimises our lives and makes things easier, is mainly computer or digitally -based. We benefit from the digital world but, in your opinion, does there exist an inflection point in the future?

A I would say definitely yes. We have apps like Airbnb, Spotify, etc., which make our lives easier but, at a certain point, when we have more data we become inefficient. The concept of sharing economy at first sight is great: you own a car, which you do not use 100% but you rent it; you go out and rent a home with Airbnb and so on. The complexity of doing things is increasing because you have to manage everything and optimise your resources. We have a kind of hidden economisation of our private life. Everything is driven by the same platform and it might happen that people would say: “I do not care about efficiency, I do not care about finding the best person in an online database, I just want life to happen and not be planned and so life is getting easier again.”

Q Is it up to us to adapt to technology or vice versa, for technology to adapt to us?

A Both are happening at the same time. In the old theory of economic cycles we had enough technological inputs to create a product. That was in the times of the industrial revolution, engineering, petrol and chemicals industries and, as a consequence, this was always followed with social or economic change. Now, in the new model, it is a circular production.

Technology might give an input, but the further development follows specific needs. We have connectivity with smart phones but first, we need to understand the key needs of people and then develop a product based on their needs. In an “ideal world”, technology and social needs influence each other.

Q How does such an “ideal world” include values and ethics?

A We live in a society and economy driven by algorithms. They define who you will find on Facebook, they present the music you listen to from Spotify and they will probably give you advice on where to invest… We have a lot of data today, however we need something we believe in and that is values. I believe values are going to be the key element that people use to be able to decide, what do I actually want? It is the same with our family life – technology allows us to have children much later, e.g. women can do social freezing, we have families where people say: “I do not want to raise the children with my lover, but with my best friend because we never fight.” There are many possibilities with technology and social options, but what is left are values. However, this sounds a little bit old fashioned. I believe that, in the future, this will become more important and we have to be aware how we are going to accept decisions.

Q What has to be noticed from the past by building, as you quote, “perfect capitalism” in the future?

Dr Stephan Sigrist

A I think the goal of “perfect capitalism” is not realistic as the algorithms and computers will not be able to come up with models that actually reflect the real world. Trying to build systems that will control the world will fail. We need to identify specific areas, within a company or state, where the data could be used. The most intelligent computer, from IBM, is used for diagnosis in specific disease areas. In many cases, it does a better job than humans, but when it comes to the patient with many different diagnoses at the same time, the computer fails. So, in small areas a computer does its job but, when it comes to the bigger picture, it does not. When it comes to capitalism, we should not rely on a computer system but on what we know – join different solutions, companies and people and then innovation evolves from that.

Q Do you think that robots are our future?

A Robots will be a part of our future, however I think innovation is not going to be driven by robots. They will have a role in delivering innovation but, in the end, it is about trying something else, making a mistake, having a crazy idea that nobody would ever think about that will actually work! A computer or robot will never come up with such a solution because it is illogical. Innovation needs failure, illogical thinking, unexpected things and this is where we, as humans, are good. 

Autumn Edition 2015 | The Slovenian Times

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slovenia Business BriDGe™ ChanGe/opportunities/awareness/traDemarK/referenCe Country

More than 35 top speakers

ZDravKo

Joseph p.

poCˇivalšeK

Boris

Quinlan

Minister of Economic Development and Technology of the Republic of Slovenia.

Dr. John

KoprivniKar

Chief market strategist at U.S. Trust, Bank of America Private Wealth Management.

A leading expert on capital flows, an established global economist and strategist on Wall Street.

Cited by the world’s leading financial media.

Cohn

Deputy Prime Minister and Minister of Public Administration of the Republic of Slovenia.

IBM Fellow, Internet of Things Division, mad scientist, tech wizard and boy scout forever.

3 rd I n v e s t m e n t a n d development conference October 14 – 16, 2015 | Ljubljana – Slovenia

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Slovenia Business Bridge™ Investment and Development Conference illuminates the investment environment and opportunities in Slovenia. It uncovers the unknowns of the U.S. market to Slovenian companies and investors. It connects and brings together investors, businessmen, entrepreneurs, opinion leaders, diplomats and leaders.

Participate. Discover opportunities.

Register: http://bridge2015.eventbrite.com

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Economy

The Slovenia Business Bridge™ The Slovenia Business Bridge™ is an Investment and Development Conference of the highest level, bringing together the business world, government representatives, investors, corps diplomatique and entrepreneurs. Prominent speakers from Slovenia and abroad will shed light on the opportunities in Slovenia and the EU, with a particular focus on the green and digital societies.

Day 1 u.s. Boot Camp oCt 14 12:30 p.m. - 6:30 p.m.

abC aCCelerator ŠmartinSka 152 ljubljana

Ultimate workshop with experts and business developers from the U.S. In-depth information on how to enter and operate in the U.S. market. Concrete questions, concrete answers. Understanding the U.S. market.

Workshop coaches: Anthony V. RUSSo, President of TradeHub International, USA SteVe StAReSinic, CPA, CGMA

Day 3 Do’s anD Don’ts when oCt 16 enterinG the u.s. marKet 2:30 p.m. – 4:30 p.m.

Hotel Slon SlovenSka 34 ljubljana

frequent questions when entering the U.S. market - Anthony V. RUSSo, President of TradeHub International, USA

frequent mistakes when entering the U.S. market - SteVe StAReSinic, CPA, CGMA

Visas

- kARen MiMS, Consular Officer, U.S. Embassy

Select USA

- dAle WRight, U.S. Commercial Department, Select USA Senior Commercial Officer Panel chair: VidA dolenc pogAčnik, Deputy Director and International Cooperation Leader, AmCham Slovenia

Find out why Europe/Slovenia is the place to invest The EU remains one of the largest economies in the world and it is on its path of growth after the recession. Joseph P. Quinlan, Chief Market Strategist at U.S. Trust, will give in-depth insight into the case for investing in Europe and Slovenia. István P. Székely, who manages and coordinates ECFIN’s input into the macroeconomic and budgetary policies in nine EU member states, will highlight how Slovenia can be more visible for investments.

In 2015, Slovenia adopted a strategy for the management of state assets, which opens new investment opportunities in Slovenia. J.P. Morgan and other investors that are already present in the region will explain their experiences and Zdravko Počivalšek, the Minister of Economic Development and Technology of the Republic of Slovenia, will present the attractiveness of Slovenia for business.

Take a step into the future Digital technologies are changing industry, our everyday lives and our view of the world. New opportunities are being created for both the economy and the countries themselves. There-

fore, it is important and necessary to be aware of the changes and to be agile in introducing them and adapting to them. What about values and feelings in an ever changing society?

John Cohn, IBM Fellow, mad scientist and tech wizard, will take us into the future and present how we will change our work and how technology can improve the quality of our lives.

Can Slovenia be the ‘green’ country of reference in a digital Europe?

Due to highly developed infrastructure, security, reliability, openness and creative people, Slovenia has what it takes to be a green county in a digital Europe with a high standard of living. The Minister of Public Administration of the Republic of Slovenia, Boris Koprivnikar, will explain how Slovenia will embrace this unique opportunity. The four regional heads of the biggest IT multinationals IBM, Microsoft, Cisco and Oracle will, for the first time, sit at the one table and present the future of digital transformation and its opportunities.

This is also the opportunity for Slovenian companies to become agents of development and not merely followers. Quick changes in digital technology and transformation make

space for innovative business models which change the value chains and networks in all sectors. Slovenia has recognised the merging of innovative digital technology and services as one of the important development opportunities at all levels: citizens, county and society. Furthermore, Slovenia is one of the countries with the highest number of patents per capita in the world and has a large number of extremely creative and innovative individuals. This is proven by the number of successful Slovene companies outside the borders, for example Celtra. It is time that we start being aware of this potential and use it for further development.

There will also be plenty of opportunities for participants, investors, entrepreneurs, opinion leaders and diplomats to network, exchange ideas and build future cooperation. The conference will also highlight the importance of European-U.S. economic cooperation in light of the Transatlantic Free Trade and Investment Partnership negotiations. An important part of the conference will be devoted to advanced technologies and connections with investors.

Participate. Discover opportunities.

Register at http://bridge2015.eventbrite.com

Autumn Edition 2015 | The Slovenian Times

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Global Pitch

BellaBeat; Photo: BellaBeat

Start ups and the digital age Prepared by: Maja Konečnik Ruzzier, Associate Professor of Marketing, Faculty of Economics, University of Ljubljana

Mitja Ruzzier, Professor of Entrepreneurship, Faculty of Management, University of Primorska

Have you heard of Uber or Airbnb? Both are so called “unicorns”—companies that have soared to USD 1bn in value or more based on fundraising.

The billion dollar tech start-up was once the stuff of myth, but now they seem to be everywhere, even in industries (Uber in transport, Airbnb in tourism), which seem to be somewhat traditional. The question is what are the reasons behind this and what will be next? At least two reasons should be highlighted: a bull market and a new generation of disruptive technology arising from the unlimited challenges the digital age has brought to companies.

as a young and passionate team, are shaping the landscape of digital display advertising.

Slovenian founders are also responsible for start-ups whose primary business is not related to the digital world however, digital change indirectly impacts their business. In many examples, such as BellaBeat or the FlyKly, products are closely connected to new technology (apps etc.) which upgrades the original function of the core product. In addition, due to digital changes, start-ups have the opportunity to reach a global audience, engage them as brand co-creators and create worldwide business.

FlyKly has made a significant innovation in urban cycling and is dedicated to making bicycle friendly cities. Its founder, Niko Klanšek, listened to potential customers from the beginning and today engages customers from all over the world to share their ideas, thoughts and opinions to develop and improve their products. Having a worldwide community is not related only to communication, but also to understanding what international customers really want and are prepared to pay. More and more, everything is data driven and supported with analytics. This is possible because of the expanded technological environment, including phones and wearables. Going beyond Slovenian customers and their thinking is therefore imperative for a business to be global.

The digital age opens new opportunities for (Slovenian) start-ups, but only those who have enough knowledge and are able to understand modern customers and invite them to be their co-creators, can gain. In a digital world, not only Slovenia but the whole world is becoming a small and connected village! And start-ups are becoming a serious threat to well-established companies!  Celtra; Photo: Celtra

Today, companies have two possibilities: either to ignore the significant changes or adopt and even innovate new ways of doing business. The consequences of the digital age are not only evident in marketing communication due to the significant impact of word of mouth and interactive marketing present across the variety of social media, online communities etc., but also in other elements of the marketing mix and in business models. Marketing channels are becoming more diverse and innovative, prices are much more dynamic, in part because of improved transparency, products and services are being upgraded into unique experiences and packaged as powerful brands which enable unique relationships among diverse stakeholders. Customers are no longer passive observers, but rather active players, even brand co-creators. The change in customer behaviour is just enormous.

Understanding the changes in the environment, while profiting from technological in-

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The Slovenian Times | Autumn Edition 2015

novation, seems to be the greatest advantage of start-ups. No history and tradition but instead fresh ideas, an open-mind, an understanding of the modern customer and thinking outside the box are just some of the common characteristics of today’s start-up. It appears that start-ups are gaining a significant share of the world economy and expressions like ‘innovate like a start-up’ are even being used in large corporations.

Having conducted more than 40 in-depth interviews with successful start-up founders and other stakeholders in the start-up ecosystem, presented in our new book Startup branding funnel, we concluded that everyone is aware of the changes to business resulting from the digital age. Amongst others, many Slovenian start-ups or rather, start-ups with Slovenian founders and co-founders, take advantage of these changes. Some of them were ahead of the competition and have become cocreators of global digital change, for example Celtra and its co-founder Miha Mikek. Celtra,

FlyKly; Photo: FlyKly

Global Economy Pitch

Brothers Luka and Klemen Zupančič – creators of Easycarb

Easycarb – smart digital carbohydrate tracker; Photos: Easycarb

Idea:

Easycarb TST: How did you come up with the idea?

Luka Zupančič: The Easycarb project was founded by my brother, Klemen Zupančič and I in November 2013. We were both researchers in biomedicine and were frequently involved with diabetes as part of our academic pursuits.

I focused my passion towards the disease and started participating in workshops on diabetes, as a volunteer, where I got the opportunity to speak with diabetics and listen to the challenges they face every day. I quickly realised how extremely outmoded and inefficient the current standard for managing carbohydrates was, even though it represents a crucial part of the process for maintaining the short and longterm health of the patients. I presented the idea for a smart digital carbohydrate tracker to Klemen and together we decided to make a change.

TST: What is the main purpose of the tracker and the solution it offers?

LZ: Diabetes is the fastest spreading chronic disease of our time, affecting nearly 400 million people or one in every ten adults. It causes patients to lose the ability to appropriately store or 'spend' blood sugar – our body´s main energy source. Most patients need to inject insulin to compensate as the body does not naturally respond properly to insulin. Patients need to precisely calculate the amount of carbohydrates in their meals and administer corresponding insulin doses. This process is very time-consuming, difficult and inconvenient and has remained virtually unchanged for decades.

Easycarb is the first complete solution for managing carbohydrates, intended to make the process simple, accurate and effective. It consists of a powerful app for smart devices combined with a dedicated portable Bluetooth scale for food weighing which, together, automatically calculate the exact amount of carbohydrates in a given meal.

TST: What is your assessment of the potential market?

LZ: The primary user market is estimated to be the more than 387 million people diagnosed with diabetes (type I and 2) and is expected to increase by 50 million every year. When nutrition and sport enthusiasts, who are also potential users, are taken into account, the number increases drastically.

TST: What is the investment necessary for the realisation of your project and what kind of funding are you looking for?

LZ: To finalise the development of Easycarb, an estimated EUR 100,000 additional investment is required. The team is determined to raise the required funds with their Indiegogo crowdfunding campaign, which will launch on 30 September.

TST: Why is your solution special and different from the existing solutions?

LZ: The main feature that distinguishes Easycarb from the existing solutions for diabetics is the complete integration and digitalisation of carbohydrate determination in food. While the competition mainly focuses on logging the activities of the patients, Easycarb aims to revolutionise the process of performing these activities. It is the first solution that offers a dedicated wireless scale for weighing food that communicates with the application´s extensive integrated food database so as to provide users with precise information in a matter of seconds.

In addition to the enhancement in technical terms, the stand-alone Easycarb app will also be made available for everyone completely free of charge, which is not the case with most alternative solutions.  Autumn Edition 2015 | The Slovenian Times

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Economy Global Pitch

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BTC City Ljubljana – Innovative Ideas Photos by Studio Bomba

Since its beginnings 60 years ago, the BTC company has been aware of its responsibility to the environment and to people alike. As such, its development rests on a solid foundation built from environmentally and socially responsible projects. With the aim of making green and sustainable development one of the cornerstones of its business operations, the company conceived Mission: Green as one of the key pillars in its long-term, 2020 development strategy. The growth of the company is the result of the collective pursuit of innovative solutions and constant awareness of new developments.

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The Slovenian Times | Autumn Edition 2015

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BTC systematically promotes the inclusion of its most important stakeholders – its employees, business partners, and young people – in the innovation process. All of these players, who contribute their insight, original ideas and novel vision, participate in the development of the BTC City Ljubljana shopping centre into a true arena of innovation. This year, the development space supplies the most daring with additional momentum which is provided by ABC Hub and ABC Accelerator.

ABC Hub is a manifestation of the innovation and advancement of BTC With ground-breaking content and a condensed environment that fosters innovation in the one place –BTC City – Slovenia is becoming one of the main development hubs in the wider region. Following the quick international breakthrough of ABC Accelerator, which is listed among the 60 best accelerators in the world and is the strongest of its kind in south-east Europe, BTC, acting on the initiative of ABC

Global Economy Pitch Accelerator, founded the Acceleration Business City Hub (ABC Hub). ABC Hub is a space of innovative ideas, which inspires, fosters cooperation and motivates young businesses to reach new heights. It is a development project which spurs BTC City Ljubljana into becoming a centre of innovation. It is also a continuation of the story which began with ABC Accelerator, a story of building a progressive business environment in Slovenia and developing a comprehensive ecosystem of interest to international investors.

ABC Accelerator leads start-ups into international innovation ABC Accelerator represents an innovative environment in BTC City Ljubljana, which helps start-ups develop their business ideas and break into the domestic as well as the international market. It aims to create a progressive business environment in Slovenia, grant innovative entrepreneurs access to international investors and accelerate their breakthrough in the global market. The networking of diverse partners creates an environment suitable for entrepreneurs and researchers alike. Oriented towards high-quality and a sustainable operation, ABC Accelerator is a part of the strategy to position Slovenia as an innovative country, connecting the entire region with the rest of the world. The progressive narrative of ABC Accelerator sets up a unique network of connections: between small businesses and multinational conglomerates; between academia and business; between different disciplines and generations; between cities and countries; and perhaps most importantly, between different accelerators and other innovation hubs. What unfolds is a creative space available to all the players in the market, including investors.

As Jože Mermal, President of the BTC Management Board emphasises: "Ljubljana is becoming a lively and diverse city in which we steadily create a progressive international business environment. ABC Accelerator plays an important part in this development, while BTC helps with infrastructure, reference and knowledge. ABC Accelerator has welcomed young people from different continents, full of knowledge and the wish to succeed. I believe in their success."

of ABC Accelerator and offers start-ups, the ABC Space offices, everything they need for the successful development of their businesses. It is a new, modern hub, a unique ecosystem for adventurous start-ups and young businesses, which facilitates their breakthrough domestically as well as internationally.

New dimensions through co-working, coaching and teambuilding On 2,000m2, ABC Hub offers everything that start-ups and young businesses require for successful development: a connection with knowledge, the international mentorship and investor network of ABC Accelerator, flexible and fixed working spaces, four large conference rooms, two quiet corners and lecture halls, and rooms intended for socialising and fun.

This space gives concepts such as "co-working", "coaching" and "teambuilding" a new dimension, which enables young entrepreneurs and innovators to communicate and be in contact with potential investors and business partners from all over the world through high-end technology and the guidance of mentors.

Jaša Bukovec and Jan Serini from the start-up company, V3D, mention the networking possibilities as one of ABC Hub’s main advantages: "ABC Hub represents a great opportunity for starting a new business. In the beginning, every start-up has some trouble dealing with costs which are usually higher than the company’s income. The presence of entrepreneurs with similar business views can at least lower the costs. Since it is hard to work alone, networking is of great importance also for the service aspect, as cooperating with an experienced team can lead to increased efficiency."

ABC Accelerator to continue the "Smart living and health" program Since its inception, ABC Accelerator has consistently proven to be a success. This spring, the accelerator received an invitation to join the Internet Innovation Hub, a European network of 20 business acceleration programs.

Membership of the Global Acceleration Network, which is considered to be one of the most prestigious and best accelerator networks worldwide, constitutes another special achievement. The development of ABC Accelerator in an "inward" direction is inevitably followed by development in an "outward" direction. In October, the Accelerator will welcome the second generation of young entrepreneurs with the "Smart living and health" program. This time, the focus will be on solutions for quality living.

Among other things, start-ups participating in the program will be met with the most modern development environment in the region, initial capital, securities bonus in the form of technological equipment and licences, experienced mentors, access to the IBM innovation centres worldwide and the business environment of BTC City Ljubljana to test new business ideas. 

01 ABC Space office 02 ABC Hub opening in september 03 Lecture hall 04 Kitchen 05 Conference room 06 ABC Hub opening in september 07 ABC Space office

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ABC Hub: a continuation of the development of ABC Accelerator Following the successful completion of ABC Accelerator’s first six-month intensive "Smart City" program in June, eight start-ups attracted more than 70 investors. The majority of these businesses continue on their path as part of the ABC Hub, located on the lower floor of the Ljubljana Emporium Hall which opened its doors in September. ABC Hub is an extension Autumn Edition 2015 | The Slovenian Times

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Politics Economy

PM Tells UN Slovenia Committed to Strengthening Human Rights, Rule of Law Prime Minister Miro Cerar underlined Slovenia’s commitment to promoting human rights and the rule of law, as he addressed the 70th session of the United Nations General Assembly in New York in early October.

"We are determined to work with all partners to make the UN deliver tangible, meaningful results that will advance peace, security and human rights for all.

Slovenia will take its share of responsibility to act," he said.

Cerar stressed that respect for human rights was a pivotal founding principle when Slovenia gained independence. Its commitment to promoting human rights, especially the protection of the most vulnerable groups, "has further strengthened and represents one of the core elements of our foreign policy."

Turning to the rule of law, Cerar said it was "an essential condition for the development and peaceful coexistence of nations." In this respect, Slovenia strongly supports international treaties as a means to enhance universality, ensure reliability and provide accountability.

As for current affairs, the prime minister said it was necessary to overcome divisions in the UN Security Council and find the way to deal more effectively with the worsening situation in countries such as Syria, Iraq and Libya. "This must be stopped."

The worsening refugee crisis also needs "a determined and immediate response from the full international community, based on common principles of solidarity, humanity and shared responsibility."

Cerar said it was necessary to help the people in need but also to increase assistance to countries hosting large numbers of refugees and act more decisively in their countries of origin.  Source: STA PM Miro Cerar's address at the UN; Photo: OZN/STA

BAMC Chairman of the Board Lars Nyberg; Photo: Daniel Novakovič/STA

Finance Minister to Propose Dismissal of Bad Bank Boss At the beginning of October, Finance Minister Dušan Mramor announced he will propose to the assembly of the Bank Asset Management Company (BAMC) to dismiss Lars Nyberg as chairman of the board citing loss of trust.

"I’ve lost trust in the chief non-executive director of BAMC because he has been misleading me with his information and because events were not as he presented them and back pay has been concealed," Mramor told reporters.

After the government adopted new guidelines to cut executive pay at the bad bank in March, Mramor ordered the contracts to be changed accordingly and was assured this had been settled. However, on his first check, Mramor found the contracts were not fully aligned with the new pay policy, despite assurances by BAMC that the issue had been tackled by an addendum.

The minister demanded twice more for the basic contracts to be brought in to line, but after they were still not signed in accordance with the new pay policy, he once again intervened and was given the same assurances.

Eventually Mramor requested the data from BAMC and upon its examination he found the payments were not in compliance, which is why he will demand Nyberg be sacked as the Chairman and therefore responsible for the contracts.  Source: STA

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Politics

Parliamentary Delegation Discussed Refugee Crisis in Strasbourg Slovenian MPs attended a session of the Parliamentary Assembly of the Council of Europe in Strasbourg in early October and highlighted the need for coordinated action and a uniform approach to the refugee crisis in Europe.

Andrej Šircelj of the opposition Democrats (SDS) underscored the need for a unified approach to the issue and called for action. Solidarity alone will not solve the problem, he said. Noting that Europe had neither accommodation nor social capability for potentially 50 million refugees from the Middle East and Africa, he expressed the belief that the problem would not be solvable within the framework of the EU alone.

He called for a binding UN resolution that would enable the formation of so-called safe zones in Syria and Iraq, to which international humanitarian aid would be sent and he also stressed that Jordan, Lebanon and Turkey were in dire need of assistance.

Stabilisation of Iraq and Syria is necessary, but the issue of economic migrants must be separated from the issue of refugees seeking asylum, Šircelj pointed out. 

The Minister for Health Milojka Kolar Celarc; Photo: Nebojša Tejić/STA

Source: STA Refugees in Tovarnik at the Croatian-Serbian border; Photo: Tanjug/STA

Health Ministry to Unveil Major Laws by the end of 2015 The Minister for Health, Milojka Kolar Celarc, announced that the ministry plans to unveil key legislative changes in the coming months as she presented her department’s work one year into the government’s term.

Amendments to the health services act, which governs the licensing of private practitioners, have been drafted and the period of public consultation began at the end of September.

New legislation on pharmacies will be drawn up by the end of the year and the ministry is preparing a new bill on health care and health insurance. The bill will include an analysis of the Slovenian health system, whose interim results will be presented on 30 October, Kolar Celarc said.

The long-running project e-Health, parts of which are already operational, is in the final phase. Electronic prescriptions will go live in November and a trial period for electronic referrals will start in 2016.

The Minister described the work of her ministry over the past year as good "We’ve done as much as in the entire previous government term or more," she said. She listed her biggest achievements to date as the additional funding for health services providers and the impending completion of regional emergency care centres.  Source: STA Autumn Edition 2015 | The Slovenian Times

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Politics Dr Danilo Türk was the first Slovenian Permanent Representative to the United Nations (1992-2000) and served as a non-permanent member of the Security Council (1998-99). He served as the UN Assistant Secretary-General for Political Affairs from 2000 to 2005 and then returned to Slovenia to become a Professor of International Law and the Deputy Dean of Student Affairs at the Faculty of Law, University of Ljubljana.

He was elected as the third President of the Republic of Slovenia in 2007 and served until the end of 2012.

In January 2014, the Slovenian government nominated him as its candidate for UN Secretary-General.

Dr Danilo Türk

Interview: Dr Danilo Türk

We have to demonstrate that European values are meaningful Prepared by Tina Drolc, M.Sc.

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Q In July 2015, Slovenia got a new declaration on foreign policy, replacing the previous declaration from 1999. At the time, you highlighted the need for understanding our own identity, which impacts "the quality of our foreign policy". In your opinion, does this declaration achieve this?

A A new declaration is the first step. It is essential to have a good political platform for the policy-making. The quality of foreign policy is something that is created and tested daily and on this, Slovenia has a lot to do. Our identity is still in the making. We are a country of triple identity: Central European, Mediterranean and Balkan and we have to work out a good mix that would create a foreign policy profile of Slovenia, adequate for the level of our development and our aspirations in the international arena. We also have to improve our level of selfconfidence and raise the level of ambition of our foreign policy. We have a very good name in Europe and globally, but we have to participate more actively in international political and economic relations and in international trade, where we have to define our priorities and trade ambitions. This Declaration, however, could remain idle if is not immediately followed by a more specific plan of action.

Q How would quantitatively defined objectives to strengthen Slovenia’s competitiveness improve the functioning of Slovenian economic diplomacy?

A I think substantially. It is always necessary to have quantitatively defined targets in any policymaking, including in foreign policy. We

Politics have to determine the areas where we need to work and levels of cooperation that we want to achieve. For example, in the areas of the former Soviet Union, countries such as Belarus, Turkmenistan and Kazakhstan, we have many areas to cover. In the Gulf countries, we have to do more; in the United States we have stagnated for too long. These are the reasons to do this in a very precise and a quantitatively defined way. However, this can be accomplished only if we have good cooperation between the business sector, the Chamber of Commerce and the Government. This is a big task that should be performed and we cannot be satisfied with the level of achievement so far.

Q The history of resolving the border dispute between Slovenia and Croatia is long, around 15 years. This summer we witnessed disagreements that adversely affect it resolution. How much time do the two countries (still) have to reach a consensus?

A I am not sure that I agree with your question. I think it is clear that the two countries have concluded an arbitration agreement. This agreement is valid. Nothing that has happened in the past two months has changed the validity of the arbitration agreement concluded in2009. What happens now depends on the arbitral tribunal. The arbitrators will have to decide whether the allegations made by Croatia are strong enough to end the work of the tribunal. Croatia cannot simply walk away from a valid international treaty – it is bound by the treaty. If the tribunal pronounces its ruling then it will be binding for both countries. There is no legal way Croatia can escape its legal obligations and to everyone in the international community, it is very clear that arbitral rulings must be implemented, not avoided.

Q Are we therefore approaching the beginning of the end?

A Well, I hope so. The president of the arbitration, Judge Gilbert Guillaume, has explained that the tribunal will sit in September and then we shall see; it depends really on the arbitrators, how they will judge the Croatian allegations and arbitrators’ decision will then determine the future process - it is fair to expect that this process will continue and will be concluded with an arbitral award early next year. This scenario, I believe, needs to be the final legal solution to the border dispute between Croatia and Slovenia.

Q The refugee pressure on Europe has grown significantly recently. You recently said that, "the solution to a refugee crisis is ending the war" and that "fear is the greatest enemy of freedom".

What action must be taken to restore freedom in the territory where people are leaving their homes?

A Each armed conflict has its own dynamic and its own way of ending. Today we are talking primarily about the conflict in Syria. There are possibilities to end this conflict. The permanent members of the Security Council have come to an agreement to put an end to the war.

This is doable but, of course, it depends on the agreement of the big powers. The war in Syria has been going on for four years and has induced much suffering and huge destruction in the country. Two of the most able international diplomats have tried to mediate a solution but have both failed and resigned – Kofi Annan and Lakhdar Brahimi. Staffan de Mistura is now trying to do his best and the international community should help him and should press the principal powers, both in the region and globally, to find the way to end this war. The European Union should raise its profile in this context. The EU is now exposed to the flow of refugees and has every reason to participate in the search for a solution much more actively than has been the case so far.

Q Most refugees arrive in Europe from Syria where the population has halved since the beginning of the war in 2011. What has to be taken into account so that the integration process is successful and running smoothly?

A You need humanitarian action first; the elementary needs such as shelter, medical care and education for the children. The question of integration comes later and one has to be very careful in handling it. I think that firstly, ghettoisation has to be avoided and secondly, there is the linguistic aspect. Refugees who wish to integrate have to learn the language and , of course, respect the laws of the country where they wish to reside. The host countries need organisations willing to help refugees in a more comprehensive way, making a sense of home for them. From the refugee’s side, there has to be an organised effort to make themselves friendly to the new environment. I like to quote Mustafa Cerić, the former head of the Islamic community in Bosnia. At the time when many Bosnian refugees went to Europe, he advised them of three things: to obey the laws of the new country, learn the language of the new country and to try to do something good for the new country every day.

Q Between 2015 and 2016, the EU plans to spend EUR 50m for the reception of 20,000 refugees. It is known that the majority of refugees are men traveling alone, with their families joining them later. How can the multiplication effect be managed and, at the same time, how can Slovenia manage financially?

A The number of refugees is getting larger and we cannot yet define a final number. It all depends on the employment possibilities, which are not very strong in Europe these days. For

this reason, it is important to pay attention to each refugee individually, to figure out what his or her abilities are, who the person is and where they can be really effective. This is why we need big reception centres for them and EUR 50m is certainly not enough. One talks about EUR 1bn and more if one wants to be effective on this. The refugee crisis is about big costs. I would expect that the European Commission will come out with a good proposal based on a serious analysis of the needs. A needs assessment comes first in every humanitarian crisis.

Quotas for individual member states are not going to solve the problem, they are about sharing the burden and not about a common policy.

So, quotas are not a good sign for a union that tries to be an integrated community.

Q So will this situation transform the future picture of the European Union?

A Certainly, this will have a transformational effect on the EU. It is the first time that the EU, as a union, has been confronted with a big problem humanitarian crisis involving a large number of refugees and is learning about the actual quality of its own institutions and policies. It is all fine to have superficial talk about European values, but now we have to demonstrate that they are meaningful and can be translated into an effective program of assistance for refugees and subsequently, to an effective integration.

Once the war in Syria is over, many refugees will go back to Syria and other places. However many would like to stay and they have to be integrated. The EU must therefore demonstrate that we have a value system, which is real and not only intended for speeches. 

Quotas for individual member states are not going to solve the problem, they are about sharing the burden and not about a common policy.

So, quotas are not a good sign for a union that tries to be an integrated community.

Autumn Edition 2015 | The Slovenian Times

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Economy Politics

Bled Strategic Forum 2015:

"It is not the goal to re-cut the pie but to enlarge it" Prepared by Aleksander Koren; Photos: Anže Malovrh/STA

The tenth Bled Strategic Forum, held from 31 August–1 September, organised by the Ministry of Foreign Affairs in cooperation with the Centre for European Perspective, took place in the shadow of the everincreasing refugee crisis and volatile financial markets rocked by a collapse of the Chinese stockmarket. During these uncertain times, ministers and senior representatives from around the world, gathered and contributed their voice to mark a number of important anniversaries for the international community including 70 years of the United Nations, 40 years of the Organisation for Security and Co-operation in Europe and 20 years since the Srebrenica massacre.

Fall of a Giant The timing of the fall on the Chinese stock exchanges was even more unfortunate, occurring as the US Federal Reserve prepared for its first interest rate rise since the financial crisis.

The Head of Mission of the People’s Republic of China to the EU, H.E. Ambassador Yang Yanyi, assured attendees at the forum that the Chinese economy is steady and moving in

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The Slovenian Times | Autumn Edition 2015

the right direction. The Slovenian Minister of Finance, Dr Dušan Mramor, did not share his enthusiasm and expressed concern about the flow-on effects that could influence the European recovery as a whole.

venia recording an unprecedented 11 percent growth in arrivals. The Slovenian Minister of Economic Development and Technology, Zdravko Počivalšek, stated that tourism is a strategic sector for Slovenia. He was countered

by Mario Hardy, CEO of Pacific Asia Travel Association, who pointed out that such a high growth rate is not sustainable and should be well managed. He warned of the overcrowding effect around tourist icons while the rest of the country remains unvisited, but welcomes the Slovenian marketing strategy of inviting guests to experience Slovenia as a whole: from skiing to mountain climbing; from culture to adrenaline adventure.

Significant growth is dangerous

TTIP negotiations are the most transparent and democratic of any bilateral agreement

Many Mediterranean countries have benefitted from growth in the tourism sector with Slo-

The ever-dividing issue of the Transatlantic Trade and Investment Partnership (TTIP)

Economy Politics gained considerable support from most of the participants. Representatives of the European Commission, the U.S. and certain EU governments, insist that populist claims of nontransparent and undemocratic negotiations are unjustified. The question of trade distortion from SMEs to large corporations was answered with the question of whether there is a belief in free trade or not and that it is not the goal to re-cut the pie but to enlarge it. Richard Jean Elsner, founder of the MORE Project, presented data that no less than 89 percent of SMEs, which are the core of the European economy, might be hit by TTIP. Slovenian analysis on the impact for Slovenian businesses, shows that there will be little or no effect from a TTIP since Slovenian trade with the US is minimal, but that the effects may be indirect since the TTIP will influence Germany, Slovenia’s largest trading partner.

So they said… Bled Strategic Forum 2015 Prepared by Aleksander Koren "Intercultural dialog needs to transcend the national level (of member states) for the regional level."

Dr Maja Makovec Brenčič, Minister of Education, Science and Sport, Republic of Slovenia

"If China sneezes we will not get a cold but flu."

Lionel Barber, Editor of the Financial Times

"The medicine of austerity and structural reform has worked."

Michael Noonan, Minister of Finance, Ireland

Trade needs transport In the current year, the European Commission plans to invest EUR 26bn in transport infrastructure projects. European Commissioner for Transport, Violeta Bulc, stated that the Commission wants to promote green and efficient transportation by promoting railways and by building new connections between member states. Deputy Minister for Transport, Construction and Regional Development of the Republic of Slovakia, František Palko claimed that national governments cannot provide sufficient funds for large and strategically important projects, suggesting that the European Union should play an even larger role in funding projects that benefit everyone.

"The political aspect is often overlooked when solving economic problems."

Isabel Grilo, Director General for Economic and Financial Affairs, European Commission

"48 hours ago I fell in love with a beautiful girl, her name is Slovenia."

Mario Hardy, CEO, Pacific Asia Travel Association

"Negotiating TTIP was never meant to be short or easy."

Elena Bryan, Senior Trade Representative, US Mission to the EU

Facing immigrants and refugees The Balkans have always been an unstable region and the current refugee crisis has prolonged, even further, the integration of the European Union. As Hungary finished building a fence on its border with Serbia to stop the flow of refugees, Hoyt Brian Yee, Deputy Assistant Secretary from the US State Department urged, Enough talk and agreements - it is time to implement. Michael Roth, Minister of State for Europe at the Federal Foreign Office of the Federal Republic of Germany, was more direct and critical. He explained that a large number of people oppose further enlargement of the EU. The states of the Western Balkans still have a long road ahead to fulfil all the prerequisites before they will be viable for integration into the EU. All of the foreign ministry representatives agreed with Harlem Désir, Minister of State for European Affairs of the French Republic, that more solidarity from the EU is needed and welcomed yet another continuance of talks that will take place next year in Paris. 

"The Commission is keen to connect Europe globally.

In October we will start talks with China on the Silk Road project."

Violeta Bulc, European Commissioner for Transport

"We have signed our first border agreement with Montenegro, next year we hope to close the disputes with Croatia and Serbia."

Igor Crnadak, Minister of Foreign Affairs of Bosnia and Herzegovina

"The Balkans do not stand alone, but first, European values of democracy and the rule of law have to be respected. Unfortunately, EU partners do not understand solidarity. An EU with walls and fences is certainly not the Europe of the future but the Europe of the past."

Michael Roth, Minister of State for Europe, Federal Foreign Office of the Federal Republic of Germany

Autumn Edition 2015 | The Slovenian Times

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Experience&Lifestyle Slovenia Davy Sims is a freelance journalist and former BBC producer. He lives in Slovenia for half the year [and the other half in Northern Ireland].

He is editor of www.lakeblednews.com e-mail editor@lakeblednews.com

The Summer of the Mobile Wielding Tourist Prepared by Davy Sims

Across Europe, across the world, mobile internet access is eclipsing desktop and laptop usage. Mobile phones and tablets are becoming the most common way to use the internet. Tourists armed with their mobiles are changing travel ... fast! Business in Slovenia needs to be ahead of the trend.

Incidentally, while this article is about tourism and mobile, it applies to just about any service industry.

2015 – more than any other year - has been the summer of the mobile wielding tourist.

Leave aside the multitude of apps from boarding passes to route maps to language courses and think about how your business’s website and social media serve the mobile tourist. Search "Top 20 Tourism Websites 2015" and you will see that the majority have three things in common; they are "responsive" which means that they display differently depending on the platform (desktop, tablet or mobile phone); they load quickly because speed is essential when you are mobile, particularly if you

are paying daily rates on holiday; and they are information rich right on the homepage. How do tourism and other service industry websites in Slovenia compare?

I will leave that question dangling, although I tip my hat to VisitLjubljana.com for providing their mobile friendly, information rich website.

Many, if not all, municipalities and tourism businesses could learn from them.

I will also commend VisitLjubljana for their use of social media. I have been batting back and forth with them for over two years on Twitter and am always impressed with their en-

gagement and positive attitude. More recently Union Hotels have been making progress in a mobile friendly environment.

"Oh, the cost ..." is the most tiresome phrase and never an excuse not to try. Behind the scenes, a mobile friendly business will have a Customer Relationship Management (CRM) strategy even if they don’t call it that. Even the smallest business can gather information about how people use their website, Twitter engagement, Facebook page, and increasingly important Instagram. Remember your customer with mobile phone in hand constantly sending messages to their friends, uploading photos to social media, tweeting their happiness, and unhappiness, too. Be part of their conversation. Welcome them to town, to your hotel, to your restaurant. Being "mobile friendly" is being "people friendly".

Build a community around your brand. If the cost is high for one tourism venue or municipality, join forces with others, reduce the cost and increase the impact. Social Media and Mobile Friendly are business strategies. Treat them like any other business strategy. Monitor, measure, report.

Create! You do not always need to have expensive videos when you can have six second "Vines" if they are clever and creative. You don’t need expensive photographers to post on Instagram.

I doubt that the day of the social recommendation website is over, but there is growing concern about the validity of some reviews.

You will have seen the vicious and the glorified.

You will have heard of people selling reviews.

Sites like TripAdvisor are useful and you will want to have good reviews on there, but if you build your own community, it will support you, be your advocate and be credible.

The tourists wielding their mobiles are changing the game. 

Being "mobile friendly" is being "people friendly".

Build a community around your brand.

Unforgettable experiences in Slovenia

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Experience&Lifestyle Slovenia

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EXPO Postojna Cave Karst

The largest permanent exhibition about the cave and the karst phenomena globally.

The exhibition ‘EXPO Postojna Cave Karst’ was officially opened in April 2015, 111 years after the initial idea and ambition of setting up a Postojna Cave museum emerged. EXPO Postojna Cave Karst is the largest permanent exhibition about the cave and karst phenomena in the world.

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EXPO Postojna Cave Karst was officially opened by Marjan Batagelj, Chairman of Postojnska jama d.d., who highlighted that he was pleased they had realised the dreams of many generations of cave operators and the generations that had endeavoured to realise the idea which, at times, often seemed far-fetched. Mr Batagelj also pointed out that the mission was being accomplished as the project was also forecast to be financially viable.

The exhibition is an important addition to the existing range of services at the cave as it includes new content for visitors. The exhibition features interactive presentations that speak volumes about the formation and extraordinary history of the tourist-related development of the most famous show cave in the world. Visitors have the opportunity to learn about the karst and karst phenomena through visual content on to a three-dimensional model, to discover the peculiarities of

Experience&Lifestyle Slovenia monuments. Postojna Cave presents the model for tourist development of show caves globally.

As one of the most famous destinations in the world, Lonely Planet revealed Postojna Cave in the list of 500 places that every traveler should visit.

Hotel Jama, Postojna 05

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The next important acquisition, which we are delighted to announce for the coming season, will be complete refurbishment of Hotel Jama, which is located in the heart of the Postojna Cave park and will welcome its first guests in the spring of 2016. Hotel Jama will certainly prove to be the best choice for visitors to two, world-famous, tourist attractions: Postojna Cave and Predjama Castle. More than 70 twin/ double or adjoining rooms with ensuite bathrooms, will provide all the necessary comfort and relaxation for visitors who stop in Postojna for one night or those who decide to spend more of their holidays in the area. The hotel’s location, next to the world-famous heritage site and at the same time, in the midst of nature’s peace and tranquillity, provides the perfect opportunity for walking in the unspoilt surrounds and also makes an excellent starting point for day trips to Ljubljana, Bled, the Slovenian coast, Trieste and even Venice.

Postojna Cave Park: Becoming a Modern Congress Centre Beside the Jamski Dvorec Mansion, Hotel Jama will also offer conference facilities and the organisation of various corporate events such as seminars, conferences or even ceremonial, state meetings. The hotel will feature two large seminar halls, increasing the number of available halls to 10 with the state-of-the-art equipment needed by corporate guests. A wide range of fine culinary delights will satisfy any gastronomic wishes, while the modern, tastefully furnished rooms will offer maximum comfort and complete privacy. 

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the karst environment and learn about all the milestones attributed to Postojna Cave on the Wall of Fame. The exhibition will be of interest to visitors who are not familiar with the karst or caves and to experts alike. Special attention is devoted to children, who are guided through the exhibition interactively by the olm and the slenderneck beetle.

Postojna Cave is extremely important for science, it is known as the cradle of speleobiology, a special branch of biology. Many different animals, perfectly adapted to life in the darkness, have been discovered and recorded in the caves. Although scientists, for a long time, believed that life without the sun or the seasons was not possible, numerous animal species that inhabit the underground world of Postojna have proven the opposite.

Postojna Cave is the best-known cave in the world. It is also the greatest tourist attraction in Slovenia and one of the world’s largest karst

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01-08 EXPO Postojna Cave Karst, photo Iztok Medja, Postojnska jama, d.d.

09-10 Hotel Jama Postojna, photos from Archive Postojnska jama d.d.

11-12 Jamski dvorec Mansion, photos from Archive Postojnska jama d.d.

13-14 Postojna Cave, photo Iztok Medja, Postojnska jama, d.d.

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Experience&Lifestyle Slovenia Economy

5th Ljubljana Forum; Photo: Nebojša Tejić/STA

5 Ljubljana Forum th

On 8 and 9 October 2015, Ljubljana Castle hosted the 5th Ljubljana Forum, organised in association with the GoForeSight Institute (GFS). The title of this year’s meeting was "Future of Cities – Smart City – Empowering Cities and People", with a focus on smart cities.

Ljubljana Forum is an annual gathering combining knowledge and experience in the field of city governance and defining key areas, visions and strategies for the future development of cities. It is organised by the City of Ljubljana, which invites senior representatives of the European Commission, cities and governments, researchers and influential leaders from industry and civil society.

The main purpose of this year’s forum was to connect, promote and facilitate the development of good practices and concrete cases of cooperation between different stakeholders with regards to the "Smart City" concept. The representatives of cities, regions, states and EU institutions shared their experiences in governance and presented visions for future development.

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The Slovenian Times | Autumn Edition 2015

In focus at this year’s forum were the: • Serious challenges of asserting (development and implementation of) the "Smart City" concept.

• Offer of products and services for "Smart Cities".

• Participation of academics and non-governmental organisations for "Smart Cities".

• Financial instruments and business models for the development of "Smart Cities".

• Presentation of the "Smart Cities" projects and networks.

• Digital entrepreneurship and "Smart Cities"

Experience&Lifestyle Economy Slovenia

Photos: Nik Rovan

CIVITAS Forum 2015:

Sharing the City

objectives by enabling a shift towards sustainable urban mobility. Yet smart and innovative solutions also have the potential to create thousands of jobs and boost growth. My presence today, along with two vice presidents, illustrates the Commission’s willingness to work across areas and to pool our efforts to reach this objective. I invite all cities to join us in this".

The meeting was attended by a record number of 600 participants from more than 40 countries worldwide. Participants were offered thematic tours of the city where they enjoyed the beauty of Ljubljana, felt the pulse of the city and learnt about a number of "green" innovations that have been introduced over a relatively short period of time.

The CIVITAS Forum is a network of cities, established in 2003, which strives for the development of sustainable mobility in cites. The network includes over 200 European cities, those who have participated in projects cofinanced by the European Commission and initiated by CIVITAS, and those which follow the directives and policies of sustainable mobility, promoted by the CIVITAS Initiative.

Ljubljana has been a member of the CIVITAS community since 2003 and has participated in two projects, ELAN and MOBILIS, introduced 24 measures within the initiative framework to assist in the development of sustainable mobility and changes in travel habits in Ljubljana. 

The Municipality of Ljubljana undertakes a variety of activities throughout the year for using environmentally and socially friendly modes of mobility and changing travel habits for a better quality of life. The European Commission has recognised Ljubljana as a city that can boast of best practices: regulating the use of public space; the introduction of "green" measures; and the implementation of sustainable activities; and therefore appointed the city as the host of the 13th CIVITAS Forum.

The most important European conference on sustainable mobility in cities was held from 7 - 9 October 2015 in Cankarjev dom. This year’s theme, "Sharing the City", was mostly focused on sustainable mobility in cities – an important contribution to improving the quality of life and introducing friendly cities accessible to everyone. A discussion on the best ways of sharing public space in both a concrete and social sense, and sharing experiences from the field will be of great assistance for designing and introducing innovative, smart and durable sustainable solutions in the future, for European cities and beyond. Participants at the event gained new skills, shared experiences and united in a common effort for an even better future.

In the presence of Ljubljana Mayor Zoran Janković and the Slovenian Prime Minister Miro Cerar, the event was attended by three European Commissioners, Vice Presidents Jyrki Katainen in charge of jobs, growth, investment and competitiveness; Maroš Šefčovič, in charge of the energy union and Transport Commissioner Violeta Bulc. Commissioner Bulc and Vice President Šefčovič highlight the issue of de-carbonisation by focusing on electrification and digitalisation of urban transport. Vice President Katainenwill presented the new European Fund for Strategic Investments (EFSI), the heart of the Commission’s Investment Plan, which will financially support innovative urban mobility projects. Commissioner Bulc said: "The EU will only reach its de-carbonisation Autumn Edition 2015 | The Slovenian Times

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Economy Experience&Lifestyle Slovenia

New traffic regime on Slovenska cesta The once main traffic artery through the city centre is now a common place for buses, pedestrians and cyclists. From 1 September, new traffic arrangements on the renovated central section of Slovenska cesta came into force. There are, once again, buses and vehicles with permits from the City of Ljubljana municipality on Slovenska cesta. During the trial period, which will last until the end of 2015, the speed limit on this section of the road is 30 km/h.

Ljubljana city buses However, not all the city buses which were there before have returned to Slovenska cesta with the new arrangements. Only those lines which recorded the highest passenger numbers or those where passengers change buses; that is only those seven lines which transport 80 percent of all passengers which cross the city centre. The lines are 1(1D), 2, 6 (6B), 9, 11 (11B), 14 (14B) and 18 (18L). Other city buses will continue to drive on Gosposvetska, Bleiweisova and Šubičeva cesta.

At the crossing of Gosposvetska, Slovenska and Dalmatinova cesta there is a regulated central junction, which allows passengers to change buses in the narrow area of stops and exit closer to the city centre (at Gosposvetska cesta and at Bavarski dvor in the direction of the centre, close to Ajdovščina).

The new section of Slovenska cesta is used mainly by ecological buses. With the purchase of 30 new eco-articulated buses, to be delivered in the first half of 2016, Slovenska cesta will become a road of exclusively "green" eco-buses which are powered by compressed natural gas and electricity.

Advanced passenger information displays at bus stops As part of the European Green Capital 2016 project, the City of Ljubljana has implemented advanced passenger information displays at the renovated sections of Slovenska cesta.

Developed on electronic paper, they enable extremely low energy consumption and feature minimal environmental impact, which allows the digitisation of green urban services and solutions for so-called smart cities.

At the four bus stops along Slovenska cesta there are a total of 32 electronic paper displays (each stop has eight displays) that show exact bus arrival times and passenger information such as notifications about line detours or new

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routes, city news and updates about different events and nearby tourist information centres.

The hardware and software for running the new electronic papers was developed by Visionect and, by using this technology, Ljubljana ranks among the cities with the most modern bus stops.

Initial reactions from pedestrians, cyclists and buses in the common area of the renovated road are positive. Further opinions from the citizens and visitors to the Municipality of Ljubljana will be collected until the end of the year and then a more detailed analysis will be conducted from which a decision regarding the permanent traffic regulation in the centre of Slovenska cesta will be taken.

The new look of Slovenska cesta with ecological buses

Advanced passenger information displays, developed on electronic paper and environmentally friendly

"Choose. Change. Combine."

This is the 14th consecutive year that the City of Ljubljana took part in European Mobility Week. The most widespread sustainable mobility campaign was, this year, focused on encouraging multimodality – combining different forms of mobility in one journey with an emphasis on walking, cycling and using public transport, which can often lead to a more pleasant and quicker journey in the city.

Numerous sustainable measures were implemented during this week, Among them: the expansion and modernisation of the parking area, P+R Dolgi most; the construction of the new parking area, P+R Barje; the installation of cyclist counters; erection of bicycle stands at the end of LPP bus stops; the changing of bus lines and the setting up of new LPP bus stops, renovation of Cankarjeva cesta and the Šmartinska underpass; the acquisition of the electric vehicle "Kavalir 4"; and educational didactic games for primary schools at www.lpp.si and Urbana SMS-parking.

With such diverse activities, Ljubljana strives for environmentally and society friendly mobility methods and changing travel habits to improve the quality of life. Obviously we are

The new look of Slovenska cesta with the electric vehicle, Kavalir

on the right track, the city is the only two-time winner of the European Mobility Week award – received for our achievements in sustainable mobility in 2003 and 2013.

Ljubljana has, in recent years, implemented a series of successful programs during European Mobility Week and therefore it is not surprising that it is the only city, so far, to be awarded the European Mobility Week award twice. Furthermore, for all the sustainable achievements in recent years, Ljubljana also holds the prestigious title of European Green Capital 2016. 

Experience&Lifestyle Economy Slovenia Ljubljana is a city in which water is not hard to find. It is characterised by two major rivers - the Sava and the Ljubljanica. The Ljubljanica dreamily welcomes all those who stroll through the city centre where its quiet song can be monitored by the landscaped riverbank and numerous bridges. The river and architecture next to it merge in a harmony that offers the city a lively pulse and special magic. Ljubljana is also rich in water, which is concealed but enables a high-quality living environment. It is natural drinking water, which is distinguished by its suitable content of calcium and magnesium, and a pleasant, refreshing taste given by the constant temperature and oxygen dissolved in the water. The drinking water does not need to be treated due to the high-quality underground source from the gravel soil composition beneath the city. It is easy to tap this treasure in a glass and enjoy its beneficial effect.

Public drinking fountains in Ljubljana Museum water; Photo: Andrej Peunik

A Wealth of Drinking Water

Ljubljana could also be called the city of drinking fountains as water has recently become an indispensable part of every walk. In the summer heat, drinking fountains located in squares, streets, parks, playgrounds and other areas invite you to pour fresh water into a bottle, while in autumn and winter, when it is too cold to use, the fountains represent a wonderful ornament in the urban center. Public drinking fountains also remind that there is good drinking water in Ljubljana. Public access to drinking water, from the drinking fountains, bear a symbolic message: water is a natural resource, which must be accessible to all. Let a drink of natural drinking water fill us with respect for the environment which provides this privilege.

Public drinking fountains operate during the period from spring to autumn when they are integrated into the regular monitoring of drinking water. That your path to the nearest drinking fountain will be as light as possible, we invite you to use the mobile app 'Tap Water Ljubljana', which identifies your current position and helps locate the nearest drinking fountain by displaying a map with a plotted route and providing a short description with a photo.

Although 70 percent of the earth’s surface is water, drinking water is actually scarce as 97 percent of all the water is sea water, two percent is fresh water frozen in ice sheets, and only one percent is available as drinking water. Natural drinking water is an irreplaceable and invaluable resource. Ljubljana is one Ljubljana European Green Capital of the few capital cities where natural 2016 and the Water Project drinking water comes from the tap Last year, in Copenhagen, Ljubljana was chountreated. A wealth of water sources sen as the European Green Capital 2016. The have enabled more than 5,000 years jury was impressed with the implementation of continuous settlement in Ljubljana of its sustainability strategy 'Vision 2025', pursues a comprehensive approach to and still today, the water quality which environmental management. One of the main is excellent and accessible to all the celebrations of European Green Capital 2016 city’s residents. will be water which has been of paramount

We, as citizens of Ljubljana, are very proud of our Green Capital and excellent water, which flows daily from taps and fountains! We will try ensure that water remains as such for our descendants and so the Water project therefore is not only an ode to this unique good but also a contribution to socially responsible practices. importance in creating the development of life in Ljubljana from prehistoric times to today.

How life with water has developed over the past millennia can be discovered at the City Museum of Ljubljana until mid-2016. The exhibition, which has been open since mid-June at the contemporary museum, offers a number of supporting programs and events.

Exhibition 'Water' is raising public awareness about the importance of water in the past and present and the importance of active conservation of water for the future. The exhibition is divided into four main themes and presents the significance of water for survival, the mobility of people, goods, ideas and knowledge, and its importance for religion, art and language.

Water for the Future For some inhabitants of our planet, water is a self-evident good, for others an invaluable and often a hard to reach wealth. Yunan lives in Darfur (Africa) where drinking water is a privilege. He knows Slovenia because he knows Tomo Križnar. Yunan is always grateful when he receives aid from unknown people from Europe. Yunan has also helped Ljubljana. From flour, salt, water and yeast he kneaded dough and seared into it the image of his hands holding a bottle. With its unique imprint he marked the bottle, which we named 'Museum water – Water for the Future'.

Water for the future is the inspiration to reflect on our common future, the future of our planet. It is the inspiration for new generations. The bottle bears our gratitude that we receive natural drinking water, our awareness about the importance of drinking water and our determination that we maintain it.

In addition, the bottle is raising humanitarian awareness as is it part of a project where financial assistance will be given to our fellow beings in Darfur. In collaboration with the Tomo Križnar Foundation, renovation and purchase of new water pumps in the Nuba Mountains will take place.  Autumn Edition 2015 | The Slovenian Times

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Economy Experience&Lifestyle Slovenia One year on, Air France’s efforts have paid off One year after the launch our its new long-haul cabins, the Company is reaping the rewards of its efforts with a significant increase in its customer satisfaction ratings. This enthusiasm has given rise to a 28 point increase in the Net Promoter Scope (NPS), a popular rating index which has received a high response from customers asked whether they are willing to recommend the Company to their families, friends and colleagues.

Best & Beyond, Air France’s long-haul ambition Air France is continuing to develop the move upmarket of its entire range of products and services called "Best & Beyond". Since June 2014, the Boeing 777 fleet have been equipped with the new La Première, Business, Premium and Economy cabins. With an investment of over 500 million euros, this project aims to place Air France at the best possible level in terms of products and to make a difference with a caring attitude towards its customers.

Ultimately, 44 Boeing 777s, the heart of the Air France long-haul fleet, will be equipped.

Air France new Business class seat: a cocoon in the sky This real cocoon, with its particularly refined finishing touches (leather upholstery, topstitching) provides an ideal level of comfort and offers the prospect of a perfect sleep.

The new Air France Business class seat was developed around the concept of 3 « F »: • Full flat - the seat converts to a fully flat bed - for crossing time zones without fatigue; • Full access - direct access to the aisle, regardless of the seat’s location in the cabin; • Full privacy - a protected area through the seat’s enveloping curves, providing a true bubble of privacy in the sky.

At a glance: • A seat that features all of the latest technology: a 16-inch (41cm) high definition touch screen with more than 1,000 hours of entertainment, a touch screen handset, electrical outlet, USB port and new noise-reduction headphones;

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The Slovenian Times | Autumn Edition 2015

• A padded headboard, an Air France signature feature; • An adjustable soft leather headrest; • Space and multiple storage areas close at hand; • A delicate-to-the-touch duvet, a XXL feather down pillow; PREMIUM ECONOMY and ECONOMY In Premium Economy, customers enjoy more comfortable seat cushions and a multi-position footrest, which further improves the comfort of this cabin. In Economy, the new seat has been completely redesigned, with more legroom, new seat cushions, softer headrests and a larger tray table. Everything has been redesigned to offer optimum travel comfort. There are also new features such as electric sockets and headphone holders.

The new Premium Economy seat: • more than 1,100 premium economy seats modified and installed on 44 long-haul aircraft between June 2014 and July 2016.

• A new, larger latest-generation 12-inch (30.5 cm) HD touch-screen

Air France, voted "world’s most improved airline" in 2015 In June 2015, Air France received two awards from Skytrax – world’s most improved airline and, for the second consecutive year, best first class airline lounge dining. These awards were presented to the Company at the World Airline Awards, the occasion for Skytrax to announce its highly-professional airline rating among one of the most respected in the air transport industry. Both awards received by Air France are the result of a satisfaction survey carried out online with 19 million customers.

Air France’s new BEST cabins are available to: • North America - New York, Toronto; Vancouver, Washington, Los Angeles; • South America - Sao Paulo; • Africa - Douala, Malabo, Yaoundé; • Middle East - Dubaï; • Asia - Guangzhou, Jakarta, Shanghai, Singapore, Tokyo-Haneda, Wuhan.

Experience&Lifestyle Slovenia Economy

Autumn in Slovenia – the season for wine Prepared by Bruno Gaberšek; Photos: Radgonske gorice and Radostne prireditve archives

An integral part of the biggest agricultural fair in Slovenia, AGRA, which is held in Gornja Radgona in north eastern Slovenia, was the 41st Vino Slovenija. The wines were evaluated by four renowned Slovenian oenologists and international guests. 418 wines from 137 growers from: Slovenia, Austria, Croatia, Czech Republic, Macedonia and Hungary were judged. Radgonske gorice from Štajerska Slovenia was awarded three titles for their sparkling wine and named Winemaker of the Year 2015. Borut Cvetkovič, Managing Director and Klavdija Topolovec Špur, Chief Oenologist, share the inside story of their success.

Q Three sparkling wines from your cellar were awarded as the champion and, for the first time, the brut was one of these.

How did you achieve such success?

BC: Of course we are pleased and justifiably proud that we achieved these awards. They are the result of the good and professional work of the entire team at Radgonske gorice. Our brut sparkling wines have gradually gained increased market share through sustained promotion and the fact that they are excellent has been confirmed by yet another gold medal which we received this year at the prestigious wine competition in France – Les Citadelles du vin 2015. And, of course, our customers are increasingly reaching for and consuming these sparkling wines, with less residual sugar, which has confirmed their excellence and popularity.

Q What does it mean for the domestic market that your cellar was awarded Winemaker of the Year 2015?

BC: The fact is that this is a great recognition of the quality of our products and, at the same time, a great responsibility for the future to preserve and develop products of good quality which will meet the expectations of our consumers - traditional, yet still in step with time; modern, innovative, likeable.

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Q Which of the three championship sparkling wines is your personal favourite?

BC: I am a fan of all our classic sparkling wines.

Which one I choose depends completely on the occasion and the moment. I admit, however, that most frequently I enjoy a glass of Zlata radgonska penina brut.

KŠ: I cannot decide which one is the best, it depends on the opportunity. To me it is more important that the sparkling wine is harmonic, in short, that it is pleasantly drinkable.

Q What are the expectations for the 2015 harvest?

BC: We started the harvest a few days ago and this year we are looking forward to a good harvest that will meet our expectations regarding our own grape production as well as the quantities from contracted vintners. This year’s vintage will be a real balm for our cellarmen relative to last year’s difficult wine year. We are looking forward to new, young wine, which in a month’s time will pamper our taste buds...

KŠ: The harvesting started on 27 August with the picking of the autochthonous variety, Ranina. We then continued with the Chardonnay, which is the basis for the sparkling wines, Zlata radgonska penina and Srebrna radgonska penina. The first analyses of musts are showing a satisfactory quality. We only wish for a slightly lower pH of the Chardonnay which is of the utmost importance for the production of sparkling wines. We believe that, with the appropriate oenological practices, we will be able to produce superb sparkling wines with the new vintage. 

Experience&Lifestyle Economy Slovenia 41st "Vino Slovenija" Champion wines Champion – dry non aromatic white wine Chardonnay Goldberg 2013, Vina Belje - Belje d.d., Croatia Champion – dry aromatic wine Sauvignon 2014, Vinarství Mikrosvín Mikulov a.s., Czech republic Champion - wine teran PTP Slovenia Teran PTP izbrani 2011, CV - Colja Wine, Matej Colja, Coljava, wine sub-region Kras, Slovenija PTP Izbrani Teran, Vinska klet Boris Lisjak, Dutovlje, Slovenija Champion – dry red wine younger than three years Cabernet sauvignon 2012, Vinska klet Boris Lisjak, Dutovlje, wine sub-region Kras, Slovenija 01

Traditionally, in all the winegrowing regions of Europe, St Martin’s day is when "the must turns into the wine". It is, therefore, a quasipublic holiday and people gather to taste the new wine together. This is also possible in Ljubljana on Saturday, 7 November, when you can taste the 2015 vintage wines in the squares and streets of the old town when the Ljubljana Wine Route – St. Martins day festival will be held. (www.ljubljanskavinskapot.si) 02

Taste the champions in Ljubljana Taste the championship wines from Radgonske gorice at Viva il Vino, organised by Radostne prireditve and held at the Grand hotel Union in Ljubljana on 23 October 2015 at 7 pm. www.radost.si

Do not miss the most prestigious Slovenian wine event

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For 17 years, in the third week of November, the largest and most prestigious Slovenian wine event, the Slovenian Wine Festival, has been held. At this festival, both local and international winemakers present their wines in the fabulous halls of the Grand Hotel Union.

This year the festival will take place on 19 -20 November 2015. www.slovenskifestivalvin.si

Champion – dry red wine older thay three years Sara 2007, Vinska klet Boris Lisjak, Dutovlje, wine sub-region Kras, Slovenija Champion – sparkling wine Zlata radgonska penina half dry 2011, Radgonske gorice d.d., Gornja Radgona, wine sub-region Štajerska Slovenija, Slovenija Zlata radgonska penina brut 2007, Radgonske gorice d.d., Gornja Radgona, wine sub-region Štajerska Slovenija, Slovenija Zlata radgonska penina dry 2010, Radgonske gorice d.d., Gornja Radgona, wine sub-region Štajerska Slovenija, Slovenija Champion - Ecological wine RWC 2011, Hirschmugl-Domaene am Seggauberg, Austria Journalists Champion – dry aromatic wine Sauvignon 2014, Hiša vina Doppler, Dolnja Počehova, wine sub-region Štajerska Slovenija, Slovenija * The results of the competition can be found at www.pomurski-sejem.si

01 Radgonske gorice wine cellar "Pod skalo" 02 Wine Route – St. Martins Day Festival in Ljubljana 03 Slovenian Wine Festival 04 Slovenian Wine Festival

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Experience&Lifestyle Slovenia

A visit will make all the difference Changing the Perception of 'Overrated Hotel Restaurants' Even if you are not employed in the catering industry, you can quickly realise how difficult it is for restaurants to attract new guests, especially when it comes to hotel restaurants. In hotels, guests need to be convinced about many of the features such as comfortable rooms and a hearty breakfast. A hotel must also attract guests with their culinary treats at affordable prices, especiallyfor localguests.

Most hotels have their own bars and restaurants and also provide room service. Many have conference facilities providing a number of creative, operational and logistics-related tasks Hotel restaurants constitute an essential catering facility within hotels and are fully focused on selling tables.

One hotel offering a bar, café and two restaurants is the Ljubljana-based, Grand Hotel

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The Slovenian Times | Autumn Edition 2015

Union, which is celebrating its 110th anniversary this year and is one of the few hotels where guests can still experience refinement, be guided by uniformed personnel, flirt with historical grandeur and taste superb cuisine.

One of the most prominent Slovenian hotels with the largest town-centre conference facilities, the hotel has a demanding role to attract foreign visitors and provide a range of services to local guests who have a completely different perception of hotel restaurants.

Ferdo Gumzej, the Food & Beverage Manager at Union Hotels, shared his thoughts about the difficulty of attracting visitors to restaurants and his view of the obstacles on the path to successful sales. „Some hotel guests are difficult to persuade to stop in one of our restaurants, mostly because they wish to experience the town and the restaurants it has to offer. But they also want to taste original, traditional Slovenian cuisine and we have made a step in the right direction with our range of culinary treats, which combine tradition and modernity. It is important to stand out by being different and to be genuine and creative which guests will notice. However, it does get more difficult when it comes to local guests as they generally havethe view that hotel restaurants are costly and inaccessible, and even believe the quality is questionable. This is absolutely not the case,as proved by our regular guests who come back frequently to enjoy lunch or a business dinner. It is essential to change the perception of hotel restaurants as facilities that exist solely as a necessity for hotel guests...“ Mr Gumzej also added „All of you who have your doubts, give us and yourselves a chance, come and experience all the flavours. A visit will make all the difference.“ There are two restaurants operating within the hotel: Smrekarjev Hram and the Union Garden in the summer. The former is the proud

winner of a number of recognition awards and is well-known for its innovative fresh food, which has a touch of tradition but at the same time follows modern trends. The Union Garden restaurant offers a range of nostalgic culinary treats, which guests can enjoy in the shade of centuries-old chestnut trees.

Daily specials and a la carte menus are prepared by the Grand Hotel Union‘s chef, Janez Dolšak, who is an exceptional master chef and also the head of the Slovenian national representative team of chefs. He makes sure that the level of hotel restaurants has, in recent years, been experiencing a steady and significant increase. Mr Dolšak, who swears by local ingredients and seasonal dishes, is also a master of Mediterranean cuisine. For hot days and lunches, in the shade of ancient chestnut trees, the focus of his creations is on freshness from the garden with a touch of nostalgia.

The indoor restaurant is a green oasis in the middle of the town, which is not a conventional hotel restaurant but a fine-dining establishment. In the pleasant shade of centuries-old stories, you can enjoy a quick and quiet lunch, a romantic candlelit dinner based on the flavours of international and traditional Slovenian cuisine or organise a business meeting of pleasant, full flavours.

The Smrekarjev Hram restaurant is the perfect choice for both visitors who, during their short stay in Ljubljana, wish to get a taste of Slovenia and for locals who like to enjoy freshly innovative flavours with a touch of tradition, prepared in a number of creative ways. 

Experience&Lifestyle Economy Slovenia

ŠUS Eurofitness – Best sporting offer in town

Me and my brother have grown up in this neighbourhood and start to play basketball in this hall. I love to come back and every year I prepare myself in ŠUS Eurofitness centre before my NBA season.

Goran Dragić, Miami Heat NBA and Slovenian national team basketball player

"Do you have a little spare time ŠUS Eurofitness also offers all inclusive and you would like to do various sport programs for kids; basics of Gymnastics, basics of Athletics, Ball games sporting activities?

Then Sports centre ŠUS Eurofitness in Sport house Ilirija in Ljubljana is the right place for you. It offers all inclusive sport programs with two fitness studios, more than 350 group exercise per month, a spa centre with a swimming pool, Turkish sauna, Jacuzzi and more."

and swimming programs for all ages. Kids have a chance to try different basic sport activities and build their motoric skills. At the same time parents can work out in a fitness studio.

Contact: ŠUS Eurofitness Vodnikova cesta 155 1000 Ljubljana E-mail: sus@eurofitness.com Telephone: +386 1 518 1662 Web: www.sportnahisailirija.si Opening hours: Monday-Friday: 6 am – 10 pm Saturday-Sunday: 9 am – 9 pm Holidays: closed

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Sport

Slovenian Gymnast Mitja Petkovšek; Photo: Tamino Petelinšek/STA

Slovenian canoeist Benjamin Savšek; Photo: Nina Jelenc/STA

Gymnastic: Legendary Gymnast Petkovšek Ends Career

Water sports: Two World Championship Medals for Slovenian Canoeists

One of the most successful Slovenian gymnasts of the past decade, Mitja Petkovšek, has decided to end a career that includes a dozen medals from both world and major European competitions.

In September, Slovenian canoeist Benjamin Savšek took the silver medal at the World Championships in London and secured a berth at the Rio 2016 Olympics. He added a bronze medal to his silver later on the same day as part of the Slovenian team.

The 38 year old, who has been dealing with a nagging back injury, announced his retirement in an interview with Delo. “I have realised that I cannot make it any more. I have given up in this fight,” he admitted only weeks ahead of the World Gymnastics Championships in Glasgow. This means that Petkovšek will not compete at the 2016 Summer Olympics in Rio in a bid to win the only medal that eluded him during an illustrious career lasting nearly 20 years. Although he has never won an Olympic medal, the specialist on parallel bars won world titles in 2005 and 2007, European titles in 2000, 2007 and 2008 and was World Cup Champion in 2000 and 2004.His total of 12 World Championship, World Cup finals, and European Championship medals means that he has more parallel bar titles from major competitions than any other gymnast.

Legendary Ice Hockey Player Tomaž Razingar; Photo: Anže Malovrh/STA

Savšek was second at the Worlds in Deep Creek, US last year, and he is the reigning European Champion. He conceded to David Florence from Britain, while Florence’s compatriot, Ryan Westley, was third. The medal-winning Slovenian team was comprised of Savšek, Luka Božič and Jure Lenarčič. Victory in the team competition went to Slovakia ahead of Germany.

Ice Hockey: Legendary Ice Hockey Player Razingar Hanging Up His Skates Tomaž Razingar, the long-standing captain of the national ice hockey team and one of the best Slovenian players of all time, has decided to retire after a 20 year career that included Slovenia’s first and only appearance in the Winter Olympics.

“The time comes when you have to say that the story on the ice has ended. Twenty beautiful years are behind me, today I’m announcing that my hockey career is over,” Razingar said at an emotional press conference, in Lesce, in September.

Born in 1979, Razingar was introduced to ice hockey in his native Jesenice and spent the majority of his career with the local club, Acroni.

He played professionally in the Czech Republic, Austria, Italy and minor US hockey leagues and participated in several IIHF World Championships as a member of the Slovenian national team, also playing for Slovenia in the country’s first Olympic appearance in 2014 in Russia’s Sochi.

Razingar had been the captain of the national team since 2009 and in 2012 recorded the highest number of team appearances (212). He said he was not completely walking away from the sport, he might take up a managerial or coaching position in the future, but for the time-being he would spend more time with his family.

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The Slovenian Times | Autumn Edition 2015

Sport

Planica Nordic Centre; Photo: Stanko Gruden/STA

Nordic sports: Planica Nordic Centre Nearing Completion

Football: Slovenia Fail to Secure UEFA Euro 2016 in the Play-Offs

The Planica Nordic Centre, a modern Nordic skiing complex with a ski-flying hill, seven ski jumping hills and cross-country skiing track in Planica, is nearing completion as the construction works are in the final phase and the EUR 40m project is expected to be inaugurated in December.

The Slovenian national football team played out a 1:1 (1:0) draw with Lithuania in Ljubljana on 9 October to lose all chances of qualifying directly for the UEFA Euro 2016. Slovenia will now seek to secure at least in the qualifying play-offs as they travel to San Marino for the final Group E match.  Slovenian national football team playing with Lithuania; Photo: Anže Malovrh/STA

“The work is running smoothly and the contractors guarantee that the work will be finished in time,” Head of the Planica Sports Association, Jelko Gros, told the press. The cross-country skiing track is worth EUR 15.5m and the ski jumping hill complex, which has already been completed, is worth EUR 24m. The project is co-financed by EU funds.

This will be the only Nordic centre in the world with eight hills in one place and the only one of this kind with hills of all sizes: small, medium, normal, large and flying hills. The renovated flying hill, Bloudkova velikanka (Bloudek Giant), which will make up a part of the Nordic Ski Centre, was inaugurated in March for the Ski-Flying World Cup final.

The centre, which will require EUR 1m a year for its operation, expects to generate a third of its revenue from tourism, and the rest from competitions and training by professional athletes. The first major competition will happen in January 2016, when Planica hosts a cross-country skiing World Cup event.

The centre is also bidding for the Ski Flying World Championships in 2020 and the Nordic World Championships the following year. The organisers will be announced at the FIS Congress in June 2016.

Source: STA

Autumn Edition 2015 | The Slovenian Times

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Shining

Slovenia has events of all kinds, to suit everyone’s taste. Every day there is a chance to see the work of the best artists from Slovenia and from further afield, while there are concerts and festivals at which to enjoy great music, teathre, dance and other art and entertainment events. You can also support your favourite team or athlete at sports events, or test your own physical prowess at any number of recreational events. Ethnological and culinary events offer not just entertainment, but a chance to get to know local traditions and tastes.

Children too can extend and challenge themselves in Slovenia.

Kimmo Pohjonen; Photo: Wikimedia

Event Guide

Kimmo Pohjonen / Samuli Kosminen & Proton String Quartet (Music Of The World) Cankarjev dom, 13 October 2015 World-renowned Finnish accordion wizard and musician in his own right Kimmo Pohjonen astounds with each new project he tackles. Pohjonen is developing his Uniko project, initiated in cooperation with the celebrated Kronos Quartet, with the Proton String Quartet and a long-standing music associate, Samuli Kosminen (also member of the popular Icelandic band Mum).

Red Poppy Fields Cankarjev dom, 14. October – 15. November The Red Poppy Fields exhibition focuses on WWI, one of the most dramatic events in contemporary European history. The group exhibition reflects on the reasons and consequences of war and its far-reaching social implications.

Centred primarily on the media of photography and video, the curators and artists articulate different views about this turbulent time, and draw parallels between the past and present. Even though the project links partners (curators) from Hungary, Poland, Slovakia and Slovenia, i.e. the countries that experienced war when under the Austro-Hungarian Empire, the artists are examining the said phenomena from a wider European perspective.

Comprising artistic visions of professional documentary or stock photographers as well as fine-art photographers addressing the theme of historical memory, be it personal or collective, the exhibition forms part of a broader project that tours across Central European cities (Ljubljana, Vienna, Bratislava, Budapest, Slupsk). Partly co-financed by the International Visegrad Fund, the project has been devised in collaboration with reputed regional institutions (SEDF Bratislava, House of Photography & Association of Hungarian Photographers Budapest, Baltic Gallery of Contemporary Art and Photon Ljubljana & Vienna.)

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The Slovenian Times | Autumn Edition 2015

International Blackjazz Society European Tour 2015: Shining (Norveška), Caligula’s Horse (Avstralija) Kino Šiška Centre for Urban Culture, 7. November 2015 For some extreme music bands you could say that, not only they push the limits of speed and power, they also open up new paths of expression. In recent years, the most prominent ones have included Norwegian icons Shining who have been building their eclectic image for more than a decade, first as avant-jazz and sharp, freely formed rock, later enriched with concise, blunt and explosive bombs of metal, acute noise, industrial and progressive rock.

Few bands have travelled such a long way across genres like Shining. Their mastermind, multi-instrumentalist, vocalist and author of lyrics Jørgen Munkeby is a skilled player of saxophone and guitar, graduate of the Norwegian Academy of Music. He began his path with Shining as a jazz quartet focusing on the later John Coltrane, which they disclosed in their first two albums ‘Where The Ragged People Go’ and ‘Sweet Shanghai Devil’ in 2001 and 2003 respectively. Soon they changed direction towards an art-rock-based approach, which resulted in albums ‘In The Kingdom Of Kitsch You Will Be A Monster’ (2005) and ‘Grindstone’ (2007). However, it was in 2010 that they revealed their true creative potential with the exceptional album ‘Blackjazz’.

This ground-breaking release turned out to be both a newly established definition of the music genre, and a mixture genre combining progressive, technical metal, jazz, avant-garde and experimental sounds with the most advanced visuals and fiery, explosive stage performances. In Slovenia, Shining have already performed in what many labelled a (too-)short appearance as openers for the German band The Ocean on their Pelagial Tour. The gig occurred exactly when they released ‘One One One’, which helped properly enrage their newly carved Blackjazz universe.

Caligula's Horse

Drummers of Burundi; Photo: Wikimedia

Event Guide

This time the hardly-awaited mesmerizing collective is returning to Ljubljana with a fulllength concert and with their new, seventh album ‘International Blackjazz Society’, which will be released on Spinefarm Records on 16 October. Joining Shining for their European tour will be the Australian prog/alt rock collective Caligula’s Horse.

15th Old Vine festival Maribor – Pohorje, 4. October – 11. November 2015

Drummers Of Burundi (Music Of The World)

Old Vine; Photo: STA

Cankarjev dom, 15. November 2015 One usually hears about Burundi from internationally televised marathons, and annually also from the athletic meeting in Brussels. On their journey across the globe, the 15-member percussion orchestra always makes a stop at the stadium to cheer on the runners with their earth-shattering, thunderous drumming. The most famed African percussion ensemble has been thrilling the audiences all over the globe and after two decades of trying to fit Ljubljana into their schedule, these exhilarating drummers are finally coming to Slovenia!

Indekš Lesson: Lola Marsh & Daniel Vezoja

debut album is highly anticipated and will be released during 2015.

The Band formed in 2013 by Gil Landau and Yael Shoshana Cohen who met after studying music and they quickly began to write, record and perform together. Mati Gilad (Bass), Rami Osservaser (Guitar, Piano), Dekel Dvir (Drums) joined them shortly after. Their music combines deep, warm, nostalgic vocals, hearton-the-sleeve-lyrics and Middle Eastern guitar melodies. Following massive performances in leading festivals and after attracting media praise, they signed with the leading indie label Anova Music. Their debut album will be released in Summer 2015.[1] Jason Grishkoff described the band as »Their beautiful Western influence could easily have fooled me into believing they were based somewhere in Texas.

Couple that with a dreamy, Tim Burton-esque bridge toward the end …«

Kino Šiška Centre for Urban Culture, 26. November Lola Marsh is a folk-Pop duo. Their music combines on-the-sleeve-lyrics and deep warm harmonies. After releasing only a home recorded demo, they gained immediate attraction due to the singer’s dramatic presence. They signed with the leading label Anova Music and Talent buyers came knocking. It wasn’t long till the band dominated stages at Primavera Sound, Pohoda, Padina and Reeperbahn festival. Their

Lola Marsh & Daniel Vezoja

The Old Vine Festival is a top tourist culinarywine-cultural festival in Maribor, the biggest tourist event in autumn with over 500 participants. An opportunity for meeting experts and amateurs, for entertainment and learning, and for the body and soul. The Old Vine Festival is the main happening in the cycle of events From Vine to Wine, from pruning to St Martin’s Day celebrations, which in Maribor we prepare in the honour of the Old Vine, the oldest vine in the world. The Old Vine is Maribor’s greatest ethnographic sight, which symbolises the rich wine culture of Maribor and Štajerska and is at the same time a starting point and finishing point wine roads, which intertwine the hilly town wine growing district.

Autumn Edition 2015 | The Slovenian Times

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Unforgettable romantic culinary indulgence Chef Igor Jagodic of »Strelec« Restaurant (»The Archer«) at Ljubljana Castle and the Captain of the Boat Ljubljana Tomo Zupančič invite You to unforgettable romantic culinary indulgence at the Ljubljanica river.

It can be a wonderful gift for a birthday, anniversary, weddings and business event ... or an unforgettable romantic evening on the river of seven names the Ljubljanica River.

The price 90 € per person include 5 course menu with wine accompaniment Slovenian and foreign winemakers, welcome drink, two hours panoramic tour with Boat Ljubljana and live music.

Igor Jagodic menu: Greeting from the kitchen, Captain's greeting to all on board the boat Ljubljana (Cold starters with trout from clear streams A glass of fine wine produced by Slovenian winemakers, water), Whoever sails, Cold soup fit for to Heavens makes! (Tomato cold soup, fresh cheese, herbs), What's good for the Captain, is also good for the crew (Veal cheeks, "the law of Slovenia" or roasted potatoes, roasted carrots), Sweet flavours of Ljubljana on the Ljubljanica (Strawberries, white chocolate foam, tarragon, buckwheat groats). At the end of our cruise you might venture into town, but here on the boat good coffee is still to be Entry: Špica Caffe, Gruberjevo nabrežje Foto: Peter Irman in Iztok Dimc (arhiv Kaval Group) Info: tina.kirn@kaval-group.si

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8 December 2015 Faculty of Economics, University of Ljubljana, Slovenia

International platform for doing business in South East and Central Europe

The FDI (Foreign Direct Investment) Summit Slovenia 2015 is an executive-level business conference devoted to the investment environment and opportunities in Slovenia.

Being a business networking event, it is an outstanding opportunity to make new contacts with the leading business people in the region, top government officials, existing international investors in Slovenia and those interested in entering the Slovenian market and develop business in the wider region.

www.fdi.si