News13.04.2017 - NON-WORKING DAYS
Due the celebration of Easter holidays, non-working days on the Montenegrin Stock Exchange will be the 14th and 17th of April.
30.12.2016 - NON WORKING DAYS ON MONTENEGROBERZA
Due to the celebration of New Year and Christmas holidays, non working days on Montenegroberza will be until 9th January of 2017. We wish you all the best in 2017. VIP Broker Dealer Team
12.07.2016 - NON-WORKING DAYS
Due the upcoming National Day, non-Working days on the Montenegrin stock exchange will be the 13th, 14th and 15th of July in 2016.
28.04.2016 - NON-WORKING DAYS
Due the celebration of Easter holidays, non-working days on the Montenegrin Stock Exchange will be the 2nd and 3rd of May.
30.12.2015 - NON WORKING DAYS ON MONTENEGROBERZA
Due to the celebration of New Year and Christmas holidays, non working days on Montenegroberza will be until 11th January of 2016 year. We wish you all the best in 2015. VIP Broker Dealer Team
09.07.2015 - NON-WORKING DAYS
Due the upcoming National Day, non-Working days on the Montenegrin stock exchange will be the 13th and 14th of July in 2015.
09.06.2015 - Hit the harvest: Officials of the Ministry of Labour help plantation workers
Employees of the Ministry of Labour and Social Welfare, Employment Office of Montenegro, Center for Social Work, Institute for Social and Child Protection, the Pension Fund and the Board for Refugees will tomorrow organize a move to assist plantation workers. "The ministry is using this occasion to invite all interested parties to join the action. The harvest will begin at six and last until 8 AM, when employees will continue to their regular jobs", said the statement of the Ministry of Labour and Social Welfare.
20.05.2015 - Non-working days
Due to the Independence Day celebration, non-working days on the Montenegroberza will be 21st and 22nd of May. VIP Broker Dealer Team
09.04.2015 - NON-WORKING DAYS
Due the celebration of Easter holidays, non-working days on the Montenegrin Stock Exchange will be the 2nd and 3rd of May.
01.04.2015 - Montenegrin power TSO net profit surges in 2014
PODGORICA (Montenegro), April 1 (SeeNews) – The net profit of the Montenegrin power transmission system operator, Crnogorski Elektroprenosni Sistem [MNG:PREN], soared to 12.1 million euro ($13 million) in 2014 from 2.6 euro a year earlier, company data indicated.
26.02.2015 - Montenegro Airlines to forge closer ties with Etihad
Montenegro Airlines, which has been shortlisted for privatisation this year, is eyeing closer ties with Etihad Airways and has recently launched fresh talks with the Emirati carrier. The news comes almost a year after Montenegro’s Deputy Prime Minister and Foreign Minister, Igor Lukšić, said Etihad was considering acquiring a stake in the country’s national airline. According to the state-owned “Pobjeda” newspaper, the two carriers are now looking to conclude a codeshare partnership agreement and boost cooperation, with talks recently held in Abu Dhabi. The involvement of Serbia’s Deputy President for Cooperation with the UAE, Mladjan Dinkić, who is heading the talks between the two parties has generated significant attention. Mr. Dinkić, who is also Serbia’s former Finance Minister, played an important role in Etihad’s takeover of Jat Airways, which was subsequently relaunched as Air Serbia. Last year, Mr. Lukšić and Etihad Airways’ CEO, James Hogan, met in Abu Dhabi after which the minister said the Emirati carrier would complete a screening process of the Montenegrin airline. “We have made a definite agreement for a team from Etihad Airways to visit Montenegro in order to define models of cooperation and partnership between Etihad Airways and Montenegro Airlines”, Mr. Lukšić said at the time. Montenegro Airlines has been hit by strong competition over the past year on its two main markets – Serbia and Russia - which accounted for 62.8% of all passengers it carried last year. The airline handled some 557.000 travellers in 2014, down 5.3% on the year before and decreased its flight operations by 20%. However, Montenegro Airlines says it is holding up against its competitors, “Strong competition over the past two years hasn’t managed to jeopardize Montenegro Airlines’ position as one of the most punctual airlines in the region”, the carrier said in a statement. Earlier this month, the Montenegrin Privatisation and Capital Investment Council announced plans to privatise Montenegro Airlines this year. The Ministry for Transport and Maritime Affairs has offered to sell a minority stake in the airline, which is to be offered to potential investors through an international tender. Both attempts to privatise the carrier in the past have failed, though Ettihad has previously expressed interest to invest in Montenegro Airlines. During the 2011 privatisation attempt, in which the government was looking to sell a 30% stake, Etihad purchased tender documentation. However, it failed to place a bid later on. Etihad Airways currently counts eight equity alliance partners in which it holds ownership stakes, with its takeover of Darwin Airline, rebranded as Etihad Regional, still to be approved by Swiss authorities.
24.02.2015 - Montenegro signs contract on long-term lease of “Lastavica” island
Montenegro’s Minister of Sustainable Development and Tourism Branimir Gvozdenović and Chairman of Orascom Development Holding AG Samih Sawiris signed in Podgorica the contract on long-term lease of the “Lastavica” island with the “Mamula” fortress in the Boka Kotorska Bay, Montenegro. The contract provides for a 49-year lease period and EUR 15 million to be invested by the Swiss-based Orascom over the next few years in the restoration of the Montenegrin significant cultural heritage, Tourism Minister Gvozdenović told the press conference following the signing ceremony. ’’I am sure this will be just one of a number of projects that are to be implemented in the coming period with a view of protecting our cultural and historical heritage, maintaining the identity that characterises this area and offering a completely new tourist product,’’ he underscored. In Minister Gvozdenović’s words, the project brings big economic benefits, as it is expected to create around 200 new jobs and bring EUR 7.5 million of revenue for the Montenegrin state over a 15-year period. "The investment amounting to EUR 15 million will ensure that we have a new five-star hotel with 23 rooms, including a special memorial room, which will further promote history of the island and its fortress. This way, we want to refresh our tourist offer and protect our cultural heritage," Minister Gvozdenović emphasised. The Lastavica island long-term lease project is expected to be approved in the Parliament of Montenegro and it should be implemented within 18 months after the construction permit is obtained, Montenegro’s Tourism Minister explained. Orascom’s Chairman Samih Sawiris said he is pleased to be again in Montenegro, adding that his company already signed the contract on the construction of the Luštica Bay sustainable luxury resort a few years ago. The plan is to build a museum within the Mamula fortress that will remind everyone who visits it of its role in the Montenegrin history, Mr Sawiris pointed out. He added that this project will help realise the original idea that started with the Luštica Bay project, thus adding a new type of destination to Montenegro’s tourist offer. Mamula will serve to honor to future hotels like the Four Seasons, One and Only resort in Kumbor and Porto Montenegro, the Orascom’s Chairman Samih Sawiris concluded. --- Tender for the development of the resort was called on 6 December 2013. The goal is to turn the location into a four-star and five-star exclusive resort, with facilities for recreational activities and relaxation well integrated in the environment, which do not compromise cultural and historical character, as well as natural environment of the location. Swiss-based Orascom Development Holding AG and Vos Investment Group from the Netherlands filed the tender offers for long-term lease of the "Lastavica" island . Orascom Development Holding AG has offered a 49-year lease period, a lease rate of EUR 1.5 per square metre of land, and EUR 0.9 for the lease of the aquatorium, which is 50 % more than the minimum required amount. The investment project is worth EUR 15 million, creating up to 200 new jobs. The bid also contains a projection for achieving the total direct revenue for the first 10 years in the amount of EUR 7.5 million. Negotiations with the Orascom Development Holding AG began in May 2014 and were completed at the beginning of the month, which resulted in signing the contract reports the Government
31.12.2014 - NON WORKING DAYS ON MONTENEGROBERZA
Due to the celebration of New Year and Christmas holidays, Montenegroberza will not work until 12 January of 2015 year. We wish you all the best in 2015. VIP Broker Dealer Team
08.12.2014 - Montenegro attractive for Turkish investments-Source
Montenegro makes notable and dynamic progress, and investors acknowledge its legal and economic potentials, Prime Minister Milo Đukanović stressed at the meeting with Turkish Energy and Natural Resources Minister Taner Yıldız, who is paying visit to Montenegro on the occasion of attending the Joint Commission for Economic Cooperation between Montenegro and Turkey. PM Đukanović underlined that Montenegro could by one of the most dynamic destinations in this part of Europe, adding that fostering of economic relations between Montenegro and Turkey could boost Montenegro’s economic progress. Investment cooperation with Turkey forms a solid basis for the implementation of the upcoming projects and strengthening of partnership, he emphasised. Minister Yildiz commended dynamic bilateral relations between the two states, adding that the joint commission should improve economic cooperation and proper use of Montenegro’s development potentials. Strong investment potential of Turkish economy and great opportunities for investing in Montenegro are crucial for continuing the good cooperation, Mr Yildiz stressed. The two officials agreed that after the period of Turskih investment support to Montenegro, further valorisation of the economic cooperation between the two countries should come into main focus. Government
11.07.2014 - NON-WORKING DAYS
Due the upcoming National Day, non-Working days on the Montenegrin stock exchange will be the 14th and 15th of July in 2014.
20.05.2014 - Non-working days
Due to the Independence Day celebrations, non-working days on the Montenegroberza will be 21, 22 and 23 May. VIP Broker Dealer Team
30.04.2014 - NON-WORKING DAYS
Due the celebration of International Workers Day, non-working dan on Montenergo Stock Exchange will be 1st and 2nd of May. We wish you happy holiday! VIP Broker Dealer Team
17.04.2014 - NON-WORKING DAYS
Due the celebration of Easter holidays, non-working days on the Montenegrin Stock Exchange will be the 18th and 21st of April. We wish you happy holidays, Team VIP Broker Dealer
31.12.2013 - Non-working days
Due to the celebration of New Year and Christmas holidays, Montenegroberza will not work until 9 January of 2014 year. We wish you all the best in 2014. VIP Broker Dealer Team
30.12.2013 - WB EUR 5 million additional Financing for the Energy Efficiency Project in Montenegro
The World Bank’s Board of Executive Directors approved today a EUR 5 million (US$6.8 million equivalent) Additional Financing for the Energy Efficiency Project in Montenegro. The project will support the Government of Montenegro’s efforts to improve energy efficiency of public buildings, and strengthen capacity of energy efficiency service providers in Montenegro. The original project in the amount of EUR 6.5 (US$9.4 million equivalent) was approved in 2008 and has achieved very good results – total of 15 public sector facilities were retrofitted to make them more energy efficient (9 in the education sector and 6 in the health sector). Energy savings in the range of 30-65% have been achieved in each of the completed facilities. The additional financing will scale up project activities to enhance the impact of a well performing project and finance investments in health facilities in the country to make them more energy efficient. About 12-14 hospitals and health care centers throughout the country will be encompassed by the project. The project activities are planned to be completed by March 31, 2017. “The World Bank recognizes the importance of efficient energy utilization in Montenegro as the country imports significant amount of electricity to meet the needs of its consumers,” said Anabela Abreu, World Bank Country Manager for Montenegro. “Montenegro adopted its first National Energy Efficiency Action Plan (NEEAP) for 2010-2012, followed by the adoption of the indicative energy saving target of 9% until 2018, and the World Bank is happy to contribute to that target with this project.” The Energy Efficiency Project not only contributes to the energy savings but also has an important role in the implementation of the Energy Efficiency Law, which assigned a central role for the promotion of energy efficiency to the Ministry of Economy, as well as energy efficiency obligations for public administration bodies.
25.12.2013 - Montenegro: Bar-Boljare motorway construction to start soon
Representatives of the Government of Montenegro and a group of seven Chinese infrastructure companies (led by China International Contractors Association – CHINCA) agreed, together with the Chinese EXIM Bank representative, on a concrete set of activities aimed towards a soon commencement of the Bar-Boljare motorway construction. The two delegations arranged to set up a central working body for coordination of projects, and the EXIM Bank agreed to support the project development. Montenegro’s Deputy Prime Minister Vujica Lazović noted the working body will comprise representatives of a number of institutions, and Finance Minister Radoje Žugić informed the Chinese side of Montenegro’s macro-economic indicators and the activities on requesting the loan from the EXIM Bank. He and Transport Minister Ivan Brajović noted that Montenegro’s intention is to have the construction of the priority section of the route (Smokovac-Uvač-Mateševo) start as soon as possible. Minister Brajović welcomed the fact that several agreements needed for the start of the project will be signed soon (in particular the agreement on cooperation in infrastructure, the framework agreement, and the commercial agreement with CCCC and CRBC) Chinese officials welcomed the fact that Montenegro chose Chinese companies CCCC and CRBC as best bidders for this important project for Montenegro, and noted that a number of Chinese companies expressed an interest in transport, railway, and energy industries in Montenegro. Deputy Prime Minister Lazović praised good bilateral cooperation between the two countries and accepted on behalf of Montenegro the invitation for the international financial and construction forum due to take place in May 2014 in Macao.
22.10.2013 - Montenegro plans to get KAP investor who will overcome the problem of the electricity price
Montenegro’s Minister of Economy Vladimir Kavaric says that he expects the KAP to get investor who will overcome the problem of the electricity price trough high product finalization. In the interview for Radio Crne Gore, Kavaric said that Ironworks got quality partner through bankruptcy and that he expected the same to happen with KAP. “The introduction of bankruptcy in KAP does not represent anything new, it only verifies what was expected, and that is that there was no requirement for organization and implementation through bankruptcy. It means that the property of KAP will be offered for sale in the simplest possible way, to the highest bidder, with the implementation of tender procedures with a single criterion, which is the price.” Economy Minister considers that the scheme for the KAP to be realized like Ironworks and accurately determine the status of those who leave KAP.'I expect Union to deliver proposal, after which the Government will determine severance pay and schedule of payments reports rtcg.
05.07.2013 - Government selects best bidder for Montenegro’s biggest development project
At yesterday’s Cabinet session, the Government of Montenegro selected the Chinese companies CCCC International (Chinese company for telecommunications and infrastructure) and the CRBC (China Road and Bridge Corporation) as best bidders for the construction of the Bar-Boljare highway, that is its priority section Smokovac-Uvče-Mateševo. The negotiations are to be continued with the aim of concluding final agreements regarding the project design, construction and financing, Transport Minister Ivan Brajović told the press conference following the Cabinet meeting. He added that the offered price for the construction of the priority part of Montenegro’s greatest infrastructural project is EUR 809.577.356,14. Minister Brajović noted that the priority section is planned to be funded through the Chinese EXIM Bank’s preferential loan, which includes a 20-year repayment period, a five-year grace period, and 2% of fixed interest rate. The loan should be provided within a loan line for countries of Central and South-Eastern Europe in the amount of $ 10 billion, announced by China’s ex Prime Minister Wen Jiabao at the Warsaw’s conference in April 2011. The final legal and contractural arrangements will be submitted to the Parliament of Montenegro for decision making. According to Minister Brajović, the construction of the Bar-Boljare highway will ensure more balanced development of all parts of Montenegro, better exploitation of natural resources, more rapid development of tourism, better and safer transport and overall economic development of the country. During the last six months, the Government of Montenegro negotiated the construction of the priority section of the highway with a number of high-profile companies, namely the Turkish DOGUS-GUSLAN consortium, American-Turkish consortium Bechtel-Enka and Chinese CCCC and the CRBC. The key criteria in choosing the partner for this project were financial sustainability of the offer with regard to Montenegro’s budget, time-frame for carrying out the project, partner’s references, engagement of Montenegro’s construction industry, equipment, materials and workforce and the application of European TEM standards, Transport Minister Ivan Brajović concluded.
24.06.2013 - Montenegrin Parliament approved VAT increase to 19 pct
Deputies approved the draft amendments to the Law on Value Added Tax, which provides its increase from 17 to 19 percent. The Parliament on Tuesday completed hearings on the proposal, which, according to representatives of the opposition, is just a way to pay for private accounts of the head of the ruling party and the debts of Aluminium. The Minister of Finance Radoje Zugic said that, in combination with other fiscal adjustment measures, the VAT increase will contribute to the lowering of public debt, which is expected to increase the level of fiscal stability, sustainability, as well as financial and overall macroeconomic stability.
24.06.2013 - Montenegro: Tobacco cultivation to be renewed
The Government and the Capital City have signed an agreement on acquisition of shares of the New Tobacco Plant (NDKP) with a consortium comprised of the Danilovgrad-based Partner Company, Primate from Uzice, and Jaz Express from Budva, which is expected to renew the tobacco production in Montenegro. The Agreement was signed by the Minister of Agriculture and Rural Development Petar Ivanovic, the Mayor of Podgorica Miomir Mugosa and the representatives of the NDKP consortium Jovan Asanin.
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