News
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Montenegro News | Updated from thousands of local and international sources keeping investors up to date on Montenegro Property and Montenegro Investments
 Montenegro in Shanghai, 05.03.2010. |
| In the largest World's Fair World Expo 2010, which will be held in Shanghai from May to October, Montenegro will present its economic potential, as well as the natural and cultural heritage. |
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| Port of Bar interested to Italians, 22.02.2010. |
| Delegation of Italian businessmen met with the Minister of Transport, Maritime Affairs and Telecommunications Andrija Lompar to discuss the possibilities of participation of their companies to tender for the Port of Bar. |
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| AEA Welcomes Three New Airline Members, 18.01.2010. |
| The Association of European Airlines , representing Europe’s most important network carriers, has expanded its membership to 36 from the beginning of January, with the addition of Aegean Airlines, Air Baltic and Montenegro Airlines. |
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| Israel ready for investments in Montenegro, 11.01.2010. |
| Minister of Foreign Affairs Milan Rocen and Israeli Minister of Tourism Stas Miseznikov determined that there was a realistic possibility for investments of Israeli investors into attractive tourist projects in Montenegro. |
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| Porto Montenegro and Compositeworks establish strategic partnership, 04.01.2010. |
| Porto Montenegro will soon offer a full range of refit and maintenance services to its European yachting clientele. In cooperation with the Adriatic Shipyard in Bijela, Porto Montenegro will invest with Compositeworks, of La Ciotat in France, to establish a full range superyacht refit facility of the highest quality in the Bay of Kotor, Montenegro. |
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| Promotion of Montenegro in London, 08.11.2009. |
| From November 9 to 12, London will be the host of the World Travel Market (WTM), which will gather around 5,000 exhibitors from more than 200 countries of the world, and around 50,000 professionals from the sector of tourism from all over the world are expected. |
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| The pearl of the Mediterranean, 24.08.2009. |
| Montenegro is currently not only one of the best tourist destinations but also one of Europe's hottest real estate markets and this situation looks set to continue reports Lucy Russell |
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| Nautical Elite in Budva, 23.08.2009. |
| Several chief executive officers of well-known world shipyards visited Montenegro in order to find out what are the prospects of this tourism metropolis for further nautical development. |
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| The season breaks the record, 21.08.2009. |
| In the Ministry of Tourism and in National Tourism Organization satisfied: It is announced yesterday from the Ministry of Tourism that there are between 380.000 and 400.000 of registered visitors in Montenegro and by the end of August the millionth visitor in this year will be registered. |
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| Montenegro Becomes Europe's Next Hot Spot, 13.04.2009. |
| Villa Milocer's formal restaurant, the Dining Room, has seven tables with views of Milocer beach. The more casual Loggia and Living Room provide late-night snacks and a lounge. The company plans for another restaurant that will serve traditional Montenegrin cuisine of fish and meat staples as well as tapas. |
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| Four offers for motorway, 03.03.2009. |
| Four offers arrived to the tender for the construction of motorway Bar-Boljare. Among others, offers for the construction of the entire motorway and construction of the priority section Podgorica-Matesevo were delivered by Austrian Strabag AG and Croatian Konstruktor Inzenjering. |
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| Opportunity bank formally sold, 03.03.2009. |
| 100 percent of shares of Opportunity bank were sold to Croatian Erste bank for EUR 13m in the Montenegro Stock Exchange on Monday, March 2. Former owners of the bank, first of all American Opportunity Transformation, agreed on all additional conditions of sale with the stock exchange price, such as the share in profit, but those data are not public. |
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| Three companies applied, 28.02.2009. |
| On Friday, February 27, the fund of mutual investment HLT informed that three companies applied to the tender for the sale of real estates of the complex of Podgorica-based barrack Moraca, which is in the ownership of HLT. |
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| Inflation from 2.5 to 5.5 percent, 26.02.2009. |
| Inflation in Montenegro in 2009 will range from 2.5 to 5.5 percent, and many companies will be forced to reduce prices. This is an assessment of the council of the Montenegrin Central Bank in the session presided by Governor Ljubisa Krgovic. |
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| Britain encourages Montenegro, 26.02.2009. |
| In a conversation with Vice President of the Montenegrin Government Gordanom Durovic, British Minister for Europe Caroline Flint said that Great Britain supports Montenegro in the effort to obtain the EU candidate status.
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| Gordana Durovic in Great Britain, 24.02.2009. |
| Gordana Durovic, Vice President of the Government for European Integration, will officially visit Great Britain from February 24 to 26 at the invitation of Minister for Europe of that country Caroline Flint.
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| Three gold medals to wines, 24.02.2009. |
| In the Second International Wine Festival in Sarajevo, in which more than 90 wine-cellars from the countries of the region and wider participated, company 13. jul Plantaze won three gold medals. In an auction sale, the wine of Plantaze, Premier from 2000, achieved the highest value of EUR 450. |
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| Operation UN, 22.02.2009. |
| Apart from the candidacy for membership in the UN Security Council in 2026, Montenegro submitted a request for candidacy in another three important bodies of the UN – the UN Human Rights Council, UN Commission on Sustainable Development and UNDP Executive Board. Gathering the support of all UN member countries for the candidacy is in progress. |
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| No visas in the EU from summer? 22.02.2009. |
| In the second half of the year, Montenegro and Macedonia could be included in the white Schengen list, which means that their citizens would travel to 22 EU member countries and Norway and Iceland. This was confirmed to the Montenegrin media from several diplomatic sources. |
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| Crnogorski Vranac favourite brand, 15.02.2009. |
| Crnogorski Vranac of Podgorica-based company 13. srpanj Plantaze was declared the favourite regional brand in the fifth international show of brands, which ended in Belgrade on Saturday, February 14. |
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| CTU signed a contract with Dubrovnik Airlines, 14.02.2009. |
| President of the sector of hotels in the Montenegrin Tourist Association (CTU) Zarko Radulovic and Director of the Croatian airline company Dubrovnik Airlines Zeno Singer signed a contract on business cooperation on Saturday, February 14, in Becici. |
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| Montenegro will earn EUR 2bn by 2020, 31.01.2009. |
| One of the most important conclusions of the renewed version of the Master plan of development of tourism of Montenegro by 2020 is that Montenegro has increased the income from tourism three times in three years, from EUR 124m to 548m. Those incomes will again be tripled by 2017. |
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| Hotel Crna Gora for new glow and prestige, 30.01.2009. |
| Representatives of Podgorica-based company Normal tours and world hotel chain Hilton signed a pre-contract on management for a period of 15 years and the reconstruction of hotel Crna Gora, which should start in the next few months. |
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| There will be credits, but they will be approved more carefully, 29.01.2009. |
| Representatives of micro financial institutions (MFI) in Montenegro said that they do not expect the economic crisis to jeopardise their operations in 2009 because they have enough money, but they announce more careful policy in approving credits and possible smaller problems regarding the collection of debts. |
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| Montenegro and Albania toward Europe and NATO rapidly, 28.01.2009. |
| Montenegro and Albania have excellent relations and are rapidly going toward EU and NATO associations, the heads of parliaments in both of these countries, Ranko Krivokapic and Josefina Topally said on Tuesday. "I think the foundation of every good race, in this case the race toward the EU, is what is called the leader’s bicycle switch. |
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| There might be hope for quick membership, 23.01.2009. |
| The Montenegrin Government, with the help of representatives of the World Trade Organisation (WTO), will try to find a way to become a member of the organisation on February 3 despite the opposing of the Ukraine which refused to sign the bilateral agreement. |
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| We resist challenges, 22.01.2009. |
| "The global financial crisis has had a negative effect on the solvency and profitability of banks world-wide and Montenegro is no exception", said the governor of the Central Bank (CBCG), Ljubisa Krgovic, at the Euromoney conference in Vienna on Wednesday. He said that the solvency of the Montenegrin banking system had been diminished but that it had nevertheless managed to resist all the challenges. |
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| Villas finished by summer, 22.01.2009. |
| "We will finish 36 villas in the Astra Montenegro tourist complex in Zavala by the beginning of the summer season, while the construction of an exclusive hotel will begin in the fall", announced the head of the company Mirax Balkan, Vjeceslav Lejbman. Lejbman said that Mirax had secured enough funds to complete the first stage of the largest tourist complex on the Adriatic by June.
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| Arabs should complete the offer by February 10, 21.01.2009. |
| The tender commission for the privatisation of the Adriatic Shipyard requested representatives of company Abu Dhabi Mar to complete the offer for the takeover of the majority package of shares of the Bijela-based company until February 10. |
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| If Munk builds a marina, there will be customers, 20.01.2009. |
| Despite the global financial crisis, global yacht industry is not losing momentum. For the first time in history, the number of megayachts that have been ordered or already being built in world shipyards has exceeded the magical number of 1,000. According to Show Boats International magazine, 1,019 new megayachts are registered in the global book of orders for 2009. |
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| Prices of sqm decreasing, 19.01.2009. |
| The latest research of the Central bank of Montenegro (CBCG) showed that prices of a square metre of residential area in Podgorica at the end of November 2008 recorded a decrease of 12.2 percent regarding March 2008. |
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| 35 small four-star hotels, 15.01.2009. |
| On Wednesday, January 14, the Ministry of Tourism and Environment Protection informed that, during the winter season of 2008/2009, an increase in the number of tourists and overnight stays of 12 percent is expected regarding the previous winter season. |
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| Montenegro decides for rich guests 14.01.2009. |
| Director of the Montenegrin travel representative office in Frankfurt Karl Patelin said that Montenegro more often decides for rich tourists, nature, sport, entertainment and adventure lovers during the entire year. |
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| Montenegro among partially free countries, 14.01.2009. |
| The annual report of the American non-governmental organisation Freedome House, named “Freedom in the World”, states that Montenegro is a partially free country. In the scale of 1 to 7, in which 1 is the best mark, Montenegro received a 3 for political and human rights, as well as last year.
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| EUR 729m arrived, EUR 243m left, 13.01.2009. |
| The value of net direct foreign investments in Montenegro, i.e. the difference between their inflow and outflow, amounted to EUR 485.2m in the first ten months of this year, which is 23.8 percent more than in the same period in 2007. |
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| Loans up 25.3% in ten months 2008, 13.01.2009. |
| PODGORICA – At the end of October 2008, about EUR 2.81bn was allocated as loans to Montenegrin citizens and companies which is a 1.4% decrease compared to September, Mina-business news agency writes. |
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| Deposits decreasing, loans increasing, 12.01.2009. |
| The latest data of the Central Bank of Montenegro show that the Montenegrin banking sector is reacting to the crisis. The bulletin, which shows data from October, shows that deposits have started to decrease and loans have started to grow. |
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| Crisis will not stop tourism, 12.01.2009. |
| Tourist workers from Kolasin do not hide their satisfaction with the former course of the season. The New Year’s holidays were characterised by almost full capacities and the number of guests discretely decreased by Christmas, while the capacities are currently filled above average. |
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| Big crisis – big opportunity, 12.01.2009. |
| Commenting on the position of tourism of Montenegro in the light of the global economic crisis, marketing expert and Director of the renowned Budva-based agency AMC Communications Velibor Zolak said that Montenegro is not very exposed to influences of the global market. |
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| We will establish a small command in Montenegro, 12.01.2009. |
| General Gerhard Schultz, director of the department for military cooperation in the Joint Force Command of NATO in Naples, said that Montenegro made a big step in the Euro-Atlantic integration, but the final stand on the application for MAP will depend in NATO’s politicians in Brussels. |
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| EUR 62m for the infrastructure of Budva, 08.01.2009. |
| This year, the Municipality of Budva will invest EUR 62m in the realisation of several infrastructural projects. The investment programme states that the most money, EUR 22.7m will be invested in road infrastructure, while EUR 13.3m will be paid on the basis of exemption of land from owners. |
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| Less money for credits, 07.01.2009. |
| Because of the limited access to sources of financing, Montenegrin bankers announce a difficult business year in which they would continue reducing the credit activity with higher interest rates for citizens and economy. |
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| NATO brings investments too, 04.01.2009. |
| Montenegrin Minister of Defence Bozo Vucinic said that, besides warranties of security and stability, membership in NATO would ensure bigger inflow of foreign investments and dynamic economic activity to Montenegro. |
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| No crisis for Porto Montenegro, 04.01.2009. |
| One of the leading Canadian dailies, Globe and Mail, commented on the events and persons that marked the year 2008. Canadian billionaire Peter Munk and his Montenegrin project of construction of the elite nautical-tourist centre Porto Montenegro in Tivat was mentioned in the chapter titled Investor of the year. |
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| Tourists will bring EUR 613m, 04.01.2009. |
| The Ministry of Tourism and Environment Protection informed that incomes from Montenegrin tourism will amount to EUR 613m this year, despite the global crisis, which is 5 percent more than last year, while the number of tourists will be on the same level. Spokesperson of the Ministry Jelena Paovic said that a positive trend of growth of income from tourism would be maintained this year. |
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| Maintain economic and social stability in 2009, 02.01.2009. |
| "I believe that we will keep our economy stable and will maintain economic and social security. Let’s do everything necessary so Montenegro continues to be an example for international, interconfessional and intercultural harmony", said Filip Vujanovic in his New Year address. |
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| Good prospects, 02.01.2009. |
| The U.S. ambassador to Montenegro, Roderick Moore, said that Montenegro’s prospects for 2009 were good after a very successful 2008. "Prospects are good even in the first half of the year. In February, Montenegro might become a member of the World Trade Organization, which is a very important thing", said Moore, while the European Union should consider Montenegro’s request for membership and determine its future path towards membership in March. |
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| For the EU, but not if it hurts relations with Russia, 02.01.2009. |
| "Montenegro’s accession into the European Union should not harm Montenegro’s relations with Russia", said the Russian Federation’s ambassador to Montenegro, Yakov Gerasimov, and added that relations with the European Union were very important to Russia as well. "It is important that the accession into the European Union does not harm the relations to Russia. |
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