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Istanbul Was Named As One Of The World's Best Performing Traveller Destinations In 2011, Based On Mastercard's New Worldwide Index Of World Destination Towns
Istanbul was named as one of the world's top-performing holiday maker destinations in 2011, based on Mastercard's new Worldwide Index of Global Destination Towns, revealed on Wednesday. The company predicted that in 2011, Istanbul will be the town with the biggest growth in tourism expenditures -- up 30.1% compared with the previous year.
The Greek govt concluded on Monday (June 6th) to sell its ten percent position in Hellenic Telecomms (OTE) to Germany's Deutsche Telekom for 400m euros. After the deal, Greece will hold ten percent plus one voting share in OTE, while Deutsche Telekom will control 40 percent and one vote. The leftover fifty percent are in the hands of international and Greek prescribed shareholders.
The Albanian lek hit an all time new low Monday (June 6th), changing hands at 142.55 lek per Euro dollar. Compared to the beginning of 2011, the price of the euro has increased by four leks.
The official minimum wage in Bulgaria will be raised from around 120 EU$ to 135 EU Dollars, PM Boyko Borisov announced on Sunday (June fifth). He revealed the government will start procedures to execute the hike, which may take one or two weeks.
Web giant Google will open an office in Zagreb by the end of June, Croatian Times reported on Wednesday (June 1st). The office will serve the company's operations and supply local support to advertisers in Croatia, Serbia and Slovenia. Also, Croatia has a lot of beautiful summer destinations for visit. Many that come here, want buy some Croatia real estate. One of the few places left in Europe where buying a home or apartment near to the sea is still reasonable, Croatia enjoys acceptance with property purchasers from across the world who appreciate the opportunity to own a house in a lovely, mostly untouched country and also by the attractive potential investments returns.
It must've been a daunting prospect for the 1st foreign owners who started buying property in Croatia in the late 1990s : selling property was a novel experience for many Croats and there would have been no help about what to do or where to go. However now things have changed significantly and there's 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 irksome however is the duty for foreigners to get government permission to own a property which can take anything from 18 months to 3 years to get, while it is rarely denied. This situation will continue for ECU citizens till 2009 when this law is lined up to be ditched as a part of the EU accession arrangements. Until then customers have a second option of setting up a Croatian limited company which permits the buyer to have fast ownership. There are several corporations who will perform this service including lawyers, 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 people would like to sell, they don't often give their property to one estate agent to market on an exclusive basis. More likely the seller will offer it to two or three agencies to sell, though it is not unusual for the property to be offered to fifteen or 20 agencies! And anyway, the property regularly finishes up in the hands of multiple agencies as the agencies who agree to try and market the property regularly pass it onto other agencies in order to maximize the number of folks who will hear about the property. The agents share the commission when the house is sold, so this arrangement is in the sellers interest even though it often means that he has no idea who is advertising his property, and more confusingly at what price it is being offered.
To be fair to the agents, the seller often adds to the puzzlement by telling the agents to "add your commission on top". For some agents this suggests add two percent, but sadly for others it means adding twenty p.c. or even more! Just to contribute to the confusion, there are some devious agencies who swipe the photographs and text from another agency's web site and upload it onto their own site offering it at a low price (that the seller would never accept) to draw in buyers into the agency. It's easy to spot these rogue agencies because they know little about the property and if they do take you to see the property, they won't be well placed to show you within!
The USAID's Competitiveness Project Creativity Centre has launched a new model to finance business start ups in Macedonia. The 1st Business Angel Network is comprised of so-called "angel" investors -- businessmen and others pleased to invest money, information, talents and social capital in fresh and cutting edge business ideas with high potential. The network in Macedonia already has 10 members, who are reviewing about 12 business suggestions.
Athens hosted a Hellenic-Chinese Business Forum on Monday (June 6th), drawing senior officials from over 60 leading Chinese firms looking for business ventures in Greece. Greece was represented by 187 enterprises. Areas of mutual interest include electric and mechanical apparatus production, shipbuilding, energy, environmental technologies, telecomms, real estate and tourism.
Many Albanians working in Greece are opting to come home among grave prospects and great job cuts in the crisis-hit neighbor. Up to date data of the Chamber of Industry and Commerce in Gjirokastra showed that in the past 2 months, forty small businesses 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 Friday (June third) that two firms will be competing for the privatisation of Kosovo's Post and Telecommunication Company (PTK). These are Croatia's Hrvatski Telekom, which belongs to 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 did not qualify, writes tagza.com.
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