The Company Envisioned That In 2011, Istanbul Will Be The Town With The Biggest Expansion In Tourism Expenditures — Up 30.1% Compared With The Year Before.

Istanbul was named as one of the world’s best performing holiday maker destinations in 2011, primarily based on mastercard‘s new Worldwide Index of Global Destination Cities, released on Wednesday. The company anticipated that in 2011, Istanbul will be the town with the biggest expansion in tourism expenditures — up 30.1% matched against the year before.

The Greek administration concluded on Monday (June 6th) to sell its 10% position in Hellenic Telecomms (OTE) to Germany’s Deutsche Telekom for 400m Euro Bucks. After the deal, Greece will hold 10% and one voting share in OTE, while Deutsche Telekom will control 40% and one vote. The leftover fifty percent are in the hands of international and Greek prescribed investors.

The Albanian lek hit a best-ever low Monday (June 6th), changing hands at 142.55 lek per Euro dollar. Compared with the start of 2011, the cost of the Euro dollar has increased by 4 leks.

The official minimum wage in Bulgaria will be raised from around 120 Euro dollars to 135 euros, PM Boyko Borisov articulated on Sun. (June 5th). He said the govt will start procedures to implement the hike, which may take one or two weeks.

Net giant Google will open an office in Zagreb by the end of June, Croatian Times reported on Wednesday (June first). The office will serve the company’s operations and provide local support to advertisers in Croatia, Serbia and Slovenia. Also, Croatia has a lot of beautiful summer destinations for visit. Many that come here, need buy some Croatia real estate. One of the few places left in Europe where buying a place or house close to the sea is still cheap, Croatia enjoys acceptance with property customers from all over the world who appreciate the opportunity to have a house in a gorgeous, principally unspoiled country and also by the tasty potential investments returns.

It could have been a dismaying prospect for the first foreign owners who started buying property in Croatia in the late 1990s : selling property was a new experience for many Croats and there would’ve been no help about what to do or where to go. However now things have changed significantly and there is a good deal of info available on the internet about the way to buy and the way to navigate the bureaucracy.

One feature of the bureaucracy which is still proving aggravating however is the requirement for foreigners to obtain executive permission to own a property which can take anything from 18 months to 3 years to obtain, although it isn’t denied. This situation will continue for EU citizens until 2009 when this law is lined up to be dumped as a part of the EU advent arrangements. Till then customers have a second option of setting up a Croatian limited company which permits the buyer to have fast possession. There are numerous corporations who will perform this service including barristers, accountants and some estate agencies. The following table describes the pros and cons of the company route vs the private route.

An oddity of the Croatian property market is that when folk would like to sell, they don’t often give their property to one estate agent to market on an exclusive basis. Rather more likely the seller will offer it to two or three agencies to sell, although its not uncommon for the property to be offered to 15 or 20 agencies! And anyway, the property often finishes up in the hands of multiple agencies as the agencies who agree to try and market the property often pass it onto other agencies in order to maximize the quantity of folk who will hear about the property. The agents share the commission when the house is sold, so this arrangement is in the sellers interest although it often means that he has no concept who is advertising his property, and more confusingly at what price it is being offered.

To be fair to the agents, the seller regularly adds to the confusion by telling the agents to “add your commission on top”. For some agents this means add 2%, but unfortunately for others it implies adding twenty p.c. or more! Just to contribute to the bafflement, there are some sneaky agencies who pilfer the footage and text from another agency’s website and upload it onto their own site offering it at a really low price (that the seller would never accept) to attract consumers into the agency. It’s easy to spot these rogue agencies because they know nothing about the property and if they do take you to see the property, they will not be in a position to show you within!

The USAID’s Competitiveness Project Innovation Centre has launched a new model to finance business start ups in Macedonia. The first business Angel Network comprises supposed “angel” investors — businessmen and others content to invest money, information, abilities and social capital in fresh and cutting edge business concepts with high potential. The network in Macedonia already has ten members, who are reviewing about 12 business suggestions.

Athens hosted a Hellenic-Chinese Business Forum on Monday (June 6th), drawing senior officers from over sixty leading Chinese firms attempting to find business opportunities in Greece. Greece was represented by 187 companies. Areas of mutual interest include electric and mechanical apparatus production, shipbuilding, energy, environmental technologies, telecomms, property and tourism.

Many Albanians working in Greece are making a choice to return home among grave prospects and massive job cuts in the crisis-hit neighbor. Contemporary information of the Chamber of Industry and Commerce in Gjirokastra showed clearly that in the past two months, forty smaller firms have opened in the town. According to professionals, these enterprises were opened by returning expats, who are now investing their savings in Albania.

Kosovo’s Ministry of Industrial Development announced on Fri. (June 3rd) that 2 firms will be competing for the privatisation of Kosovo’s Post and Telecommunication Company (PTK). These are Croatia’s Hrvatski Telekom, which is the property of Germany’s Deutsche Telekom, and Telekom Austria. Albania’s Albtelecom, Egypt’s Oraskom and Yemen’s Saba Telephone also filed documents in the tender for the country’s seventy five % stake, but failed to qualify, writes tagza.com.

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