Latest news with #Balkans
Bloomberg
16 hours ago
- Business
- Bloomberg
Albania Takes Stake in Jared Kushner's $1.4 Billion Tourism Plan
Albania established a state-owned company to take a stake in a $1.4 billion luxury resort project led by Jared Kushner, Donald Trump's son-in-law. The company, set up days after Kushner and Ivanka Trump visited the coastal city of Vlore, will oversee state assets and ensure a government say in the project's development, operation and the use of its proceeds. It was registered Thursday as Albanian State Development & Real Estate.
Bloomberg
19 hours ago
- Business
- Bloomberg
Planned Belgrade Trump Tower Slammed by Europe Heritage Watchdog
Serbia must protect its monuments and defy plans by Donald Trump's son-in-law to raze downtown blocs in the nation's capital to make way for a large real estate project, said Europe's top cultural heritage organization. Jared Kushner's Affinity Partners wants to build a luxury hotel and residences on the site of the Balkan nation's former defense headquarters in Belgrade, badly damaged by NATO bombing in 1999 during the Kosovo War.
Reuters
a day ago
- Business
- Reuters
US postpones sanctions against Serbia's NIS oil company for fourth time, Tanjug agency reports
June 27 (Reuters) - The United States has postponed sanctions against the Russian-owned Serbian oil company NIS ( opens new tab for a fourth time, Tanjug news agency reported on Friday. NIS has so far secured three waivers, the last of which was due to expire later on Friday. NIS, which is majority-owned by Russia's Gazprom Neft ( opens new tab and Gazprom ( opens new tab, operates Serbia's only oil refinery in the town of Pancevo, just outside the capital, Belgrade. The facility has an annual capacity of 4.8 million tons and covers most of the Balkan country's needs. Sanctions could jeopardise its supplies of crude. The U.S. Treasury's Office of Foreign Assets Control initially placed sanctions on Russia's oil sector on January 10, and gave Gazprom Neft 45 days to exit ownership of NIS. On February 26, Gazprom Neft transferred a stake of around 5.15% in NIS to Gazprom in an attempt to ward off sanctions. Gazprom Neft now owns 44.85% of NIS, while Gazprom has 11.3%. The Serbian government owns 29.87%, with the remaining shares held by small shareholders. NIS imports about 80% of its oil needs through Croatia's pipeline operator Janaf. The remainder is covered by its own crude oil production in Serbia.
Bloomberg
a day ago
- Business
- Bloomberg
NATO Leaders Flex Muscle to Avert a $1.5 Trillion War
By and Alberto Nardelli Save Hi, this is Milda Seputyte in Vilnius and Alberto Nardelli in Brussels. Welcome to our weekly newsletter on what's shaping economics and investments from the Baltic Sea to the Balkans. You can subscribe here. To much fanfare in the Hague this week, NATO leaders agreed to boost defense spending to 5% of gross domestic product and renewed their 'ironclad commitment' to mutual security. It was a win for Donald Trump, who has lambasted his European allies for underspending. In return, the US will remain committed to collective defense should a member come under attack.
Bloomberg
a day ago
- Politics
- Bloomberg
Kosovo Court Orders Parliament to End Deadlock Within 30 Days
Kosovo's top court ordered lawmakers to complete the inaugural session of parliament within 30 days, pressing politicians to resolve a stalemate which has prevented the formation of a new government since February's election. The Balkan nation's newly-elected assembly has met 37 times since mid-April without electing a parliamentary speaker, a requirement before parliament can start functioning or form a new government.
