FK Leotar http://fkleotar.com/ Fri, 11 Jun 2021 14:19:34 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 http://fkleotar.com/wp-content/uploads/2021/05/fk-leotar-icon-150x150.png FK Leotar http://fkleotar.com/ 32 32 Revisiting the Bosnian War – Modern Diplomacy http://fkleotar.com/2021/06/11/revisiting-the-bosnian-war-modern-diplomacy/ http://fkleotar.com/2021/06/11/revisiting-the-bosnian-war-modern-diplomacy/#respond Fri, 11 Jun 2021 11:03:19 +0000 http://fkleotar.com/2021/06/11/revisiting-the-bosnian-war-modern-diplomacy/

Genocide is not a foreign concept in today’s world. However, while the reality (and the culprit) is not difficult to outline today, history is strewn with massacres that have been draped and hidden from the world beyond. Genocides that rivaled great wars and were so horrific that the ring of brutality still beats in the historical narrative of humanity. We go back to one of those genocides that was called the most brutal mass slaughter after WWII. We revisit the Bosnian War (1992-95) which resulted in the deaths of approximately 100,000 innocent Bosnian citizens and displaced millions of people. The wild nature of the war was such that the war crimes committed constituted a whole new definition of how we describe genocide.

The historical backdrop helps us assess the complex relationships and motivations that resulted in such a chaotic war to follow suit. After World War II, the then People’s Republic of Bosnia and Herzegovina joined the Federal People’s Republic of Yugoslavia. Bosnia and Herzegovina became one of the constituent republics of Yugoslavia in 1946 along with other Balkan states including Croatia, Slovenia, Macedonia, Montenegro and Serbia. As communism invaded all of Yugoslavia, Bosnia and Herzegovina began to lose its religious and cultural identity. Since Bosnia and Herzegovina is mainly composed of a Muslim population, later known as the Bosnians, the spread of socialism led to the abolition of many Muslim institutions and traditions. And while the transition to the reformed Federal Republic of Yugoslavia in 1963 eased ethnic pressure, the underlying ideology and radical sentiments never completely subsided.

Bosnians began to emerge as the majority population of Bosnia and by 1971 Bosnians formed the largest component of the entire population of Bosnia and Herzegovina. However, the trend of emigration accelerated later in the decades; Serbs and Croats were added to their tally for most of the 1970s and mid 1980s. The Bosnian population was characterized as a tripartite society, that is, made up of three main ethnic groups: Bosnians , Serbs and Croats. Until 1991, the ethnic majority of Bosnians was strongly diluted to only 44% while Serb emigrants concentrated Serbian influence; representing 31% of the total Bosnian population.

While on one side, Bosnia and Herzegovina was inundated with Serbs seeking to impose themselves, the Yugoslav economy was constantly perishing on the other side. While signs of instability were apparent in the early 1980s, the decade was not enough to revive the economy. By the end of the 1980s, therefore, political discontent began to take hold and multiple nationalist parties began to establish camps. Sentiments spread throughout Yugoslavia and the nationalists sensed an imminent partition. Bosnia and Herzegovina, like Croatia, carried out elections in 1990 which resulted in an expected tripartite ballot roughly similar to the demographics of Bosnia. Representatives resorted to forming a coalition government comprising Bosnian-Serbian-Craotian regimes sharing the towers as prime minister. As the ethnic majority of Bosnians profited from the first blow at the office, tensions quickly erupted around Bosnia and Herzegovina as the Serbs grew increasingly hostile.

Lava erupted in 1991 when Bosnia’s coalition government withered and the Serbian Democratic Party established its separate assembly in Bosnia known as the “Serbian National Assembly”. This decision was in keeping with a growing sense of independence which was preparing the breakup of Yugoslavia. The Serbian Democratic Party had long envisioned a dominant Serbian state in the Balkans and was not prepared to participate in a rotating government when fighting broke out in neighboring states. When Croatia began to witness the violence and the rise of rebels in 1992, the separatist vision of the Serbs was further strengthened when the Serbian Democratic Party, under the leadership of Serbian leader Radovan Karadžić, established an autonomous government in predominantly Serbian regions of Bosnia and Herzegovina. .

Vision and actions remained docile until the Ring of Independence reverberated throughout the region. When the European Commission (EC), now known as the European Union (EU) and the United States recognized the independence of Croatia and Slovenia, Bosnia and Herzegovina found itself in a precarious situation. While a safe bet would have been to initiate talks and diplomatic channels to engage the Serbian Democratic Party, Bosnian President Alija Izetbegović failed to realize early warnings of an uprising. Instead of forging negotiations with the Bosnian Serbs, the Bosnian President resorted to Croatia’s image by organizing an independence referendum supported by both the EC and the United States. Even as the referendum was blocked in the Bosnian Serb Autonomous Regions, Izetbegović chose to pass and announced the results. As soon as Bosnia’s independence from Yugoslavia was announced and recognized, fighting broke out across Bosnia and Herzegovina.

The Bosnian Serbs feared that their long-standing plan to establish a “Greater Serbia” in the Balkans could be buried, resulting in chaos across much of Bosnia. The blame for the decision, however, has been placed largely on the Bosnian president and, by extension, on the entire ethnic majority of Bosnians. The Bosnian Serbs have started to launch attacks in eastern Bosnia; mainly targeting Bosnian-dominated towns such as Foča, Višegrad and Zvornik. Soon, Bosnian Serb forces were joined by local paramilitary rebels as well as the Yugoslav army as the attacks ravaged towns with large Bosnian populations; swathing the earth in the process. Towns were looted and controlled while local Bosnians and their Croatian counterparts were either displaced, imprisoned or massacred.

While the fragile Bosnian government managed to join forces with Croatian forces across the border, the resulting offense was not enough as the combination of Serbian forces, rebel groups and the military Yugoslavia has taken control of almost two-thirds of Bosnian territory. The Karadžić regime refused to hand over the land captured in the rounds of negotiations. And as the war stagnated, Bosnian residents left in small pockets of war-torn areas were hit hard in the name of revenge and ethnic cleansing.

As the Bosnians and Croats formed a joint federation as a last resort, the Serbian Democratic Party established the Srpska Republic in the captured East, and the military units were placed under the command of the Bosnian Serb general, Ratko Mladic. The notorious general, known as ‘Bosnian Butcher’, has committed horrific war crimes, including the massacre of Bosnian residents captured in violence, the rape of Bosnian women and the violation of minors in the name of ethnic cleansing exercises. While the United Nations refused to intervene in the war, the plea of ​​the helpless Bosnians forced the United Nations to at least provide humanitarian aid to the oppressed. The most horrific of all incidents took place in July 1995, when a UN declared safe area known as Srebrenica was penetrated by forces led by Mladic while innocent Bosnians took refuge . The forces brutally slaughtered the men while raping the women and children. It is estimated that 7,000 to 8,000 Bosnian men were slaughtered in the most grotesque campaign of ethnic cleansing aimed at wiping all traces of Bosniaks from Serb-controlled territory.

In the aftermath of the barbaric war crimes, NATO launched airstrikes to target Bosnian Serb targets while the Bosnian Croat offensive was launched from the ground. At the end of 1995, Bosnian Serb forces recognized their defeat and agreed to talks brokered by the United States. The chords, also known as “Dayton Accords”, resulted in the conclusion of the Bosnian War as international forces were established in the area to enforce the law. The newly negotiated federalized Bosnia and Herzegovina represented 51% of the Bosnian-Croat Federation and 49% of the Serbian Republic.

The deal, however, was not the end of the unfortunate story as trials and international action were quickly followed to investigate crimes against humanity committed during the three-year war. While many Serbian leaders died in prison or committed suicide, the perpetrator of the Srebrenica massacre, Ratko Mladic, went into hiding in 2001. However, Mladic was arrested after a decade in 2011 by Serbian authorities and went into hiding in 2001. been tried by the UN. International Criminal Tribunal for Yugoslavia (ICTY). The investigation re-examined the malevolent actions of the former general and in 2017 the ICTY convicted Ratko Mladic of genocide and war crimes and sentenced him to life in prison. While Mladic requested the acquittal on nonsensical grounds of innocence since it was not him but his subordinates who committed the crimes, the UN tribunal recently upheld the final decision; close the doors to all other calls. After 26 years, the world saw the desperation in the eyes of Mladic, 78, as he joined the plight of his bed-mates as the offspring of the victims closed in as the last Bosnian trail was settled on a note of justice.


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The Face of Construction: Byron and Cameron Jones http://fkleotar.com/2021/06/10/the-face-of-construction-byron-and-cameron-jones/ http://fkleotar.com/2021/06/10/the-face-of-construction-byron-and-cameron-jones/#respond Thu, 10 Jun 2021 18:45:00 +0000 http://fkleotar.com/2021/06/10/the-face-of-construction-byron-and-cameron-jones/

Byron and Cameron Jones are the owners of BGJ Construction Ltd., operated as Jones Brothers Construction, a family owned business engaged in residential and commercial foundations and framing, renovations and project management.

Born and raised in the Kamloops area, Byron and Cameron attended Thompson Rivers University, completing the carpentry program and receiving their Red Seal certification, Byron in 2011 and Cameron in 2017.

In addition to their construction careers, Byron and Cameron are both active members of the Rocky Mountain Rangers Reserves in Kamloops.

Sergeant Byron Jones enlisted in the Army in 2000 and served overseas on a peacekeeping mission in Bosnia. Corporal Cameron Jones joined us in 2013. When designing the Jones Brothers Construction logo, the siblings honor their military background by including the three herringbone badges of Private, Corporal and Sergeant.

<who>Photo credit: NowMedia Group</who>“class =” img-responsive “src =” https://www.kamloopsbcnow.com/files/files/images/A50I2844.jpg “/></p>
<p>Cameron, who started in the <a class=industry a few years after Byron, began his apprenticeship alongside Byron, and they enjoyed working as a team. When their former employer closed at the start of the COVID pandemic, they decided to pull the trigger and start their own construction business. “It was just about diving,” says Byron. “Having worked in the industry for several years, first as an apprentice carpenter and working my way up to a project manager, I have developed a solid knowledge of the construction process and made connections throughout the community.

Although their own business is relatively new, the brothers have remained busy with a variety of projects ranging from home and business renovations to a custom-built, foundation-to-frame house in Tobiano. “We’re definitely customer-centric,” Cameron says. “It’s about helping customers achieve their vision.

So far, the brothers have grown their business through word of mouth from satisfied customers, family and friends. “Our schedule is filling up and we are booking in advance now, some jobs as far back as this summer,” says Byron.

Jones Brothers construction is on Facebook (Construction of the Jones brothers) and Instagram (@ jonesbrothers.construction). Follow them to see what they’re working on or contact them for any upcoming projects you may have.




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Western Balkan leaders happy with EU investment plan http://fkleotar.com/2021/06/10/western-balkan-leaders-happy-with-eu-investment-plan/ http://fkleotar.com/2021/06/10/western-balkan-leaders-happy-with-eu-investment-plan/#respond Thu, 10 Jun 2021 13:43:26 +0000 http://fkleotar.com/2021/06/10/western-balkan-leaders-happy-with-eu-investment-plan/

TIRANA, Albania (AP) – Western Balkan leaders meeting Thursday in Tirana, the Albanian capital, expressed satisfaction with a vast investment plan announced for the region by the European Union – which they hope all join one day.

Albanian Prime Minister Edi Rama described the investment plan as “the EU’s biggest historic step towards the Western Balkans”. He said this would lead to “a fundamental improvement in road, rail and port infrastructure, interconnectivity, the energy sector and digitization”.

Thursday’s talks in Tirana brought together the leaders of Albania, Serbia, Kosovo, Bosnia, North Macedonia and Montenegro.


EU Enlargement Commissioner Oliver Varhelyi said the project would mobilize € 9 billion ($ 11 billion) and potentially increase investment to € 20 billion ($ 24 billion) in 2021-2027 for the region, which has a combined population of around 18 million.

It aims to stimulate a long-term recovery from the COVID-19 pandemic and to better connect regional economies with each other and with the EU.

As a first success, Varhelyi announced the free use of mobile phones while roaming in the region.

But Varhelyi warned that the plan “will only work if the region itself works for its regional market,” urging closer cooperation in a part of the Balkans that was ravaged by war during the bloody outbreak. of the former Yugoslavia in the 1990s.

The countries of the Western Balkans are at different stages of integration with the bloc.

Montenegro and Serbia have already started full membership negotiations while Albania and North Macedonia expect to start them. Kosovo and Bosnia signed the Stabilization and Association Agreement, which is the first step in a long process.

The bloc is also pushing for the normalization of relations between former enemies Serbia and Kosovo. Their next talks should resume next week in Brussels.

“We have to recognize that the EU, the European Commission have done their job so far,” Rama said. “Now we should do our own. “

___

Follow Llazar Semini on https://twitter.com/lsemini




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VIG aims for the top three markets in Central and Eastern Europe by 2025 http://fkleotar.com/2021/06/09/vig-aims-for-the-top-three-markets-in-central-and-eastern-europe-by-2025/ http://fkleotar.com/2021/06/09/vig-aims-for-the-top-three-markets-in-central-and-eastern-europe-by-2025/#respond Wed, 09 Jun 2021 12:51:00 +0000 http://fkleotar.com/2021/06/09/vig-aims-for-the-top-three-markets-in-central-and-eastern-europe-by-2025/

SOFIA (Bulgaria), June 9 (SeeNews) – The Vienna Insurance Group (VIG) aims to be among the top three players in every Central and Eastern European (CEEC) market except Slovenia by 2025 with a focus on financial stability and profitability, proximity to customers, sustainability and market growth, CEO Elisabeth Stadler told SeeNews.

“We want to achieve this through organic growth, but we will also consider possible acquisitions. Like I said, we are aiming for this Top 3 goal, but of course the right opportunities have to present themselves. Because we stay true to our overarching premise that only profitable assets that match our strategy will be an option for us, ”Stadler said in a recent interview with SeeNews.

In the face of the challenges of the ongoing pandemic, the VIG Group has shown strong resilience to unpredictable events and implemented all projects that had been planned or underway before the crisis hit, noted Stadler.

“We have had a very strong performance, premiums and the combined ratio are at the same level as the previous year and earnings have increased significantly,” she added. “We had great success before the start of the pandemic, have so far gotten through this unique global situation very solidly and are already seeing a return to the levels reached in the first quarter of 2019.”

The VIG Group announced premiums of 3.11 billion euros and an annual increase of 5% of its profit before taxes to 128 million euros for the first quarter.

OPTIMISM takes hold

The return to pre-crisis levels gives VIG grounds for optimism about achieving its goals for 2021.

“Although the economic recovery in most countries in the EEC region is being delayed due to the increase in infection rates that we have seen since the fall of 2020, we are confident that we will meet our targets for 2021, this which means premium volume at 2020 level with 10.4 billion euros, profit before tax between 450 and 500 million euros. Vaccination rates will be essential to ensure tangible economic improvements, and we are currently seeing progress significant in this area in many of our markets.

Stadler attributed the group’s stable development in this exceptional global situation to its great diversity across countries, brands, distribution channels and products, and heavy investments in timely digitization. “It has also been shown that insurance policies that concern protection and security are very important, especially in times of crisis,” she added.

Regarding the financial parameters set in the program for the next four years, Stadler said VIG is aiming for a premium volume of around € 12.3 billion by the end of 2025.

“This represents an average annual increase in turnover of around 380 million euros, based on the 10.4 billion euros recorded in 2020. The objective is to achieve a combined ratio of less than 95% “, she noted.

Based on the new strategy and given the current operating environment, the solvency ratio target is between 150% and 200% because this range does not take into account the transitional measures that the group is currently using. A new indicator, the return on operational equity (RoE), which should be greater than the cost of equity and thus set an objective in terms of sustainable value creation, will be presented in external communications from the 2021 annual results.

MARKET-SPECIFIC APPROACH

The group also aims to create sustainable value by gaining the cost of equity and to achieve environmental, social and governance objectives with respect for society, customers and employees.

To achieve its goals, VIG has refined its country portfolio and differentiates between its main EEC market which includes 20 countries including Austria, and special markets such as Georgia, Germany, the Nordic countries and Turkey. with their own specific goals.

“We have defined portfolio groups with different objectives within the 20 CEE markets, in accordance with the respective market potential,” said Stadler.

The new strategic program also includes a reorganization of the country responsibilities of the members of the group’s management board along regional lines.

South East Europe (SEE) is defined as the Southern Region and will be under the responsibility of board member Peter Höfinger. The Southern region includes Croatia, Serbia, Romania, Bulgaria, Albania, Kosovo, North Macedonia, Bosnia and Herzegovina, Montenegro, Moldova and Slovenia.

“Our program is based on an analysis of key trends and their effects on the insurance industry. Low interest rates, increased regulatory pressure and the growing importance of environmental issues have shaped the market facing insurers for many years. Sales will become more and more hybrid – which is underlined in particular by our experience during the pandemic – with a mix of personal and digital contacts, ”explained the CEO.

“The frequency of customer contact is decreasing, which means visibility to customers is growing in importance, and we also want to deliver new customer experiences that go beyond risk coverage. Despite the ongoing digitalization, the people and expertise of our employees clearly count for a lot at VIG. And that will give us the opportunity to tap further growth potential by using new approaches to reach out to customers, ”she added.

CORE SOCIAL RESPONSIBILITY

To create sustainable value, the group will initiate various measures focused on the company, customers and employees, including an increase in green investments, as well as the newly defined goal of making office operations in all companies of the group climatically. neutral by 2030 at the latest.

“We have consciously included a strong emphasis on social responsibility in the objectives that we have defined for the group, alongside financial indicators, because it is a particular concern for us to anchor this subject more strongly in the markets of the ‘Central and Eastern Europe,’ Stadler said.

She highlighted the general low level of awareness and personal financial education in SEE as the main reason for the latent high demand for insurance.

“Our idea is to play an active role in improving financial awareness through initiatives to increase awareness and knowledge, create networks and provide individual risk solutions aimed at improving reputation. and brand awareness in the local market. “

The group plans to set up an awareness program on the importance of retirement savings and the benefits of insurance, which will be launched in three quarters of the EEC markets by 2025.

Digitization, which has gained particular momentum, especially due to the pandemic, will also remain a major topic for VIG over the next four years.

“Without a doubt, and I mentioned that in sales, for example, we’ll see a hybrid model of digital and face-to-face contacts and digital services will continue to increase,” Stadler said.

As an example, she cited ‘beesafe’, the group’s first purely digital insurer, which was established in Poland with auto insurance, with the intention of rolling out the model to other interested companies within the group. .


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Real figures: conviction of “Bosnian butcher” confirmed, Rome’s pizza vending machine, how rich Americans avoid taxes, global vaccine tracker http://fkleotar.com/2021/06/08/real-figures-conviction-of-bosnian-butcher-confirmed-romes-pizza-vending-machine-how-rich-americans-avoid-taxes-global-vaccine-tracker/ http://fkleotar.com/2021/06/08/real-figures-conviction-of-bosnian-butcher-confirmed-romes-pizza-vending-machine-how-rich-americans-avoid-taxes-global-vaccine-tracker/#respond Tue, 08 Jun 2021 19:03:10 +0000 http://fkleotar.com/2021/06/08/real-figures-conviction-of-bosnian-butcher-confirmed-romes-pizza-vending-machine-how-rich-americans-avoid-taxes-global-vaccine-tracker/

United Kingdom Thursday: peacekeeping in Ireland, Boris. Biden is expected to warn British Prime Minister Boris Johnson must not implement Brexit in such a way as to establish a hard border between Northern Ireland (which is part of the UK) and the Republic of Ireland which is a member of the EU. This could jeopardize the increasingly fragile peace that has been maintained there since the 1998 Good Friday accords. Johnson wants a juicy post-Brexit commercial agreement with Washington and cannot afford to ignore Biden’s warnings.

A G7 weekend: vax and taxes. Beyond the expected redress with once rejected allies, Biden seeks to rally rich countries to send more vaccines to low- and middle-income countries – although the United States itself has been slow down to act. The Group of Seven Most Advanced Democracies in the World will also discuss ways to ensure wider adoption of their recent proposal to establish a global minimum corporate tax, a vision championed by Biden.

NATO summit: what is it for? At the first NATO summit since 2018, members will be relieved to see a US president who does not denigrate the value of the alliance itself, but more important is whether they can answer the existential question. NATO: What is the Alliance’s mission for the 21st century? As the operation in Afghanistan draws to a close, NATO is now giving itself a new objective as, variously, a cyber alliance, a climate security pact and a cautious counterweight to China.

Bonus meeting! Talk about Turkey. Biden will also meet with Turkish President Recep Erdogan. U.S.-Turkey relations are strained over Erdogan’s purchase of advanced weapons from Russia and U.S. concerns over Ankara’s human rights record. Biden also arrives just weeks after recognize the Armenian genocide, a gesture that enraged the Turkish government. But is there a way for them to cooperate on Syria or post-withdrawal Afghanistan?

EU-US summit: a foreign policy for who now? At the first US-EU summit since 2014, the focus will be on trade and technology, two areas where Biden isn’t really looking to revert to pre-Trump standards. In fact, Biden left Trump’s steel tariffs on the EU in place, in part because the “Kid of Scranton” has a lot of support from the Country of Steel. But more broadly, Biden is push what he calls a “foreign policy for the middle class” that will prioritize American businesses, workers and suppliers in a way that could anger Europe. And there are ongoing disputes over transatlantic standards on digital privacy and taxation of tech companies.

Meeting with a “killer”. Expect freezing air as Biden ends his trip during a meeting with Russian President Vladimir Putin, which he has accused of murder. Biden has been criticized for meeting with Putin, especially following several recent major crimes by hackers which Washington says are based in russia, and Moscow’s support for the Belarusian state’s hijacking of a Ryanair flight last month. But Biden’s team says they just want a “stable and predictable” relationship with a cantankerous Kremlin: to cooperate where they can, to get their act together where they need to.

During this whole trip there will be two big problems.

First, China. Brussels and Washington agree to tackle China’s unfair trade practices and human rights abuses, and Biden – unlike his predecessor – wants to work with allies to form a united front on this. And amid mounting diplomatic tensions with Beijing, Europe recently blocked ratification of a massive and long-negotiated EU-China trade and investment pact that Washington doesn’t like.

But Biden needs to be cautious with European leaders, who are reluctant to be forced to “take sides” in anything that looks like a new Cold War. After all, many countries in the EU – especially smaller and less wealthy ones – are eager to boost their economies with the help of Chinese investment and technology.

Second, how far back is America really? Europeans will be relieved to see Biden, but they will also be skeptical. The 2016 election showed how quickly things can change in American foreign policy. And while no one knows the chances of Trump (ism) returning to the White House in 2024, in a deeply polarized United States where the former president is still popular, it is entirely possible. Add in the fact that it is also unclear who will rule Germany or France by the end of next year, and you have a lot of uncertainties hanging over which alliance is the most powerful militarily and economically of the world.


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World Bank warns of ‘uncertain’ economic outlook for Europe and Central Asia http://fkleotar.com/2021/06/08/world-bank-warns-of-uncertain-economic-outlook-for-europe-and-central-asia/ http://fkleotar.com/2021/06/08/world-bank-warns-of-uncertain-economic-outlook-for-europe-and-central-asia/#respond Tue, 08 Jun 2021 15:11:59 +0000 http://fkleotar.com/2021/06/08/world-bank-warns-of-uncertain-economic-outlook-for-europe-and-central-asia/

The World Bank says Europe and Central Asia continue to struggle to contain the coronavirus pandemic, which is clouding the region’s economic outlook.

The Washington-based lending arm of the International Monetary Fund (IMF) said in its latest global economic outlook report, published on June 8, that the economic growth of the 23 countries it brings together in the region is expected to reach 3.9% in 2021, the strengthening of external demand and high prices of industrial raw materials offsetting the negative impact of recent resurgence of new cases of COVID-19.

The World Bank warned, however, that the outlook remains “uncertain”, with uneven vaccine deployments and the withdrawal of national macroeconomic support measures weighing on the regional recovery.

“Several countries in Central Asia, Eastern Europe and the Western Balkans face bottlenecks related to the production, supply or delivery of vaccines secured through the COVAX facility or other agreements, ”the report notes.

“Growth could be weaker than expected if the pandemic takes longer than expected to subside, if external financing conditions tighten or if political uncertainty and geopolitical tensions increase further,” he said. declared.

The report says that a resurgence of COVID-19 cases in early 2021 interrupted the start of economic recovery in many countries in the region and warned that “the aftermath of the pandemic, including slowdowns in the build-up of physical and human capital, are emerging in the medium term. outlook if left untreated.

The World Bank has also noted that recent currency depreciations have put further upward pressure on prices, a growing concern for some economies still trying to shake off the effects of decades of Soviet-era planning.

“Due to inflationary pressures, key interest rates have been raised in a third of the region’s economies so far in 2021,” the bank said, pointing to Armenia, Belarus, Georgia, Kyrgyzstan, Russia, Tajikistan, Turkey and Ukraine. .

The Russian economy is expected to grow 3.2% in 2021, while the Western Balkans is expected to rebound to 4.4% annual growth. Central Europe is considered the weakest area in the Europe-Central Asia region, with economic output growth of just 1.9% this year.

The World Bank includes the following countries in its forecasts for the Europe and Central Asia region: Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Georgia, Hungary, Kazakhstan, Kosovo. Kyrgyzstan, Moldova, Montenegro, North Macedonia, Poland, Romania, Russia, Serbia, Tajikistan, Turkey, Ukraine and Uzbekistan.


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Bosnia records largest drop in non-performing loan ratio in CESEE in 2020 http://fkleotar.com/2021/06/08/bosnia-records-largest-drop-in-non-performing-loan-ratio-in-cesee-in-2020/ http://fkleotar.com/2021/06/08/bosnia-records-largest-drop-in-non-performing-loan-ratio-in-cesee-in-2020/#respond Tue, 08 Jun 2021 11:41:00 +0000 http://fkleotar.com/2021/06/08/bosnia-records-largest-drop-in-non-performing-loan-ratio-in-cesee-in-2020/

SOFIA (Bulgaria), June 8 (SeeNews) – Last year, Bosnia and Herzegovina recorded the largest annual decline in the ratio of non-performing loans (NPL) among 17 countries in Central, Eastern and South-Eastern Europe (CESEE ), reducing the ratio from 4.3 percentage points (pp) to 3.1%, according to a new report from the European Bank’s “Vienna” Coordination Initiative.

The average NPL ratio in the CESEE region fell by 0.2 percentage point over the year to reach 3.5% at the end of 2020, according to the NPL Monitor for CESEE published by the NPL Initiative, a subset of the Initiative. from Vienna, Monday.

Albania continued to lead among the 17 countries, with its NPL ratio standing at 8.1% at the end of December, down 0.3 percentage point over the year.

In South Eastern Europe (SEE), except Albania and Bosnia and Herzegovina, the countries that decreased their NPL ratios in 2020 are Bulgaria, North Macedonia, Serbia and Slovenia . Croatia, Kosovo and Montenegro increased their NPL ratios, while Romania’s NPL ratio remained unchanged in 2020.

The volume of non-performing loans in the CESEE region fell 3.9% over the year to reach 32 billion euros ($ 39 billion) at the end of 2020.

North Macedonia saw the largest annual decline in the volume of non-performing loans – of 26.4% – among countries in South-Eastern Europe last year.

Public measures that were implemented to mitigate the effects of the pandemic prevented an increase in NPLs in the CESEE region last year, but the ultimate impact of the crisis on the quality of banks’ assets remains uncertain, according to the report.

“However, NPLs are expected to increase further, as government measures start to weaken. Although the magnitude of the impact remains to be seen, the recent increase in Phase 2 loans, particularly among loans that have benefited from payment delays, can be seen as indicative of an intensification of credit risks to the Bank. future ”, we read in the report.

In addition, countries that depend on vulnerable sectors such as accommodation and food, arts and entertainment, commercial real estate or transport, are likely to be particularly affected.

Details on the profile of NPLs from ten South Eastern European countries are as follows:

NPL Ratio, Dec. 2020 NPL ratio (variation y / y, pp) NPL volume, December 2020 (in billions of euros) Volume of NPL (variation y / y,%)
Albania 8.1 -0.3 0.4 1.1
Bosnia herzegovina 3.1 -4.3 0.7 -16.6
Bulgaria 5.8 -0.8 2.9 -6.4
Croatia 7.2 0.2 2.7 7.9
Kosovo 2.5 0.6 0.1 39.8
North Macedonia 3.3 -1.4 0.2 -26.4
Montenegro 5.9 0.8 0.2 19.6
Romania 4.1 0.0 2.8 3.4
Serbia 3.7 -0.4 0.9 0.6
Slovenia 3 -0.4 1.2 4.8

The Vienna Initiative is a framework for safeguarding the financial stability of emerging Europe. It was launched at the height of the first wave of the global financial crisis in January 2009. It brings together all relevant actors from the public and private sectors of EU-based cross-border banks active in emerging Europe, which have a large part of the banking sectors. in this region.

($ = 0.8210 euro)


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Adriatic to step up exploration on new Balkan soil http://fkleotar.com/2021/06/08/adriatic-to-step-up-exploration-on-new-balkan-soil/ http://fkleotar.com/2021/06/08/adriatic-to-step-up-exploration-on-new-balkan-soil/#respond Tue, 08 Jun 2021 08:39:42 +0000 http://fkleotar.com/2021/06/08/adriatic-to-step-up-exploration-on-new-balkan-soil/

Adriatic Metals has been granted an exploration permit for additional mining concession areas as part of its Vares silver-zinc-lead development project in Bosnia and Herzegovina. The dual ASX-listed company in London was awarded the concession areas covering 32 square kilometers last year and has already completed a first helicopter-borne magnetic and radiometric geophysical survey across the new land.

Adriatic says receiving the exploration permit from the country’s Federal Ministry of Energy, Mines and Industry increases her overall exploration land holdings to 41 km² and means she can now get boots on the ground. land for channel sampling and drilling of the newly acquired land.

Previous preliminary exploration done prior to last year’s exploration permit application included geochemical sampling of soil chips and rocks and field mapping.

Adriatic says reconnaissance work has detected several potential targets.

Data from the recent radiometric survey – conducted in April this year – also supported the company with a market cap of $ 576 million.

It indicates a potential alteration corridor that crosses the center of the now enlarged exploration permit area, estimated to be approximately 22 km in direction.

Initial analysis of the radiometric survey, designed primarily to map alteration, suggests that known resources and existing exploration prospects at Vares generally overlap the edges of potassium-rich alteration hotspots.

According to the Adriatic, these borders occur where the weathering conditions seem to be the most suitable for hosting massive sulphide-type mineralization.

The initial observation not only indicates the distribution of existing exploration targets, but also indicates several new areas of interest that remain to be explored.

Adriatic Metals Managing Director Paul Cronin said: “I am particularly excited by the first results of the radiometric survey, which better identified the size and continuity of the alteration system known from the Vares project. The boundaries of this alteration corridor are strongly correlated with previously identified mineralization and our existing exploration targets. This has identified exciting new target areas, which we will pursue with further fieldwork and update the market in due course. “

Adriatic last week landed a planning permission for the key Rupice underground polymetallic deposit in Vares, the penultimate approval before she could secure a very large mining or mining permit.

The company has already obtained an exploitation permit for the Veovaca open-pit deposit, which is smaller and located near Vares.

Management expects to file a final feasibility study on the development of the proposed Vares project during the September quarter of this year.

Projections from last year’s pre-feasibility study on Vares included eye-catching EBITDA of an average of US $ 251 million per year for the first five years of metal concentrate production and a pre-capital cost. production of 173 million US dollars for mining construction and processing. .

Is Your ASX Listed Company Doing Something Interesting? Contact: matt.birney@businessnews.com.au


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AP News Digest 3 a.m. Chinese Congress Alzheimer’s Virginia Biden http://fkleotar.com/2021/06/08/ap-news-digest-3-a-m-chinese-congress-alzheimers-virginia-biden/ http://fkleotar.com/2021/06/08/ap-news-digest-3-a-m-chinese-congress-alzheimers-virginia-biden/#respond Tue, 08 Jun 2021 07:01:39 +0000 http://fkleotar.com/2021/06/08/ap-news-digest-3-a-m-chinese-congress-alzheimers-virginia-biden/

Here are the AP’s latest cover plans, top stories, and promotional content. Every hour EDT. For late-breaking information on AP’s coverage, visit the coverage plan at https://newsroom.ap.org.

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BEST STORIES

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CYBERSECURITY-COLONIAL PIPELINE – CEO of massive fuel pipeline hit by ransomware last month is expected to detail his company’s response to the cyberattack and explain his decision to authorize a multi-million dollar payment when he testifies in front of the Congress By Eric Tucker and Ben Renard. SENT: 750 words, photos, videos. COMING SOON: 890 words after 10 a.m. hearing.

MIGRANTS-GIRL-ALONE – Six years have passed since Glenda Valdez kissed her toddler and left for the United States – six years since she held Emely in her arms. But here she is, at Austin-Bergstrom International Airport in Texas, tearfully kissing the little girl she left behind. And that only happened because she had seen a TV photo of Emely, part of an Associated Press article about young people crossing the Mexican border alone. By Acacia Coronado. SENT: 930 words, photos, video.

CONVENTION BILLS – Democrats and voting rights groups are trying to figure out what to do after a pivotal senator says he will not support a sweeping election bill that advocates say is essential to the preservation of democracy. By Nicholas Riccardi and Brian Slodysko. SUBMITTED: 1,040 words, photos. With CONGRESS-BIDEN – Biden and his allies in Congress face a pivotal month.

UNITED STATES-AFGHANISTAN – The US withdrawal from Afghanistan is more than half complete, and US officials say that while it could be completed by July 4, the final exit of equipment and troops will probably be done later in the summer. By Lolita C. Baldor and Robert Burns. SENT: 970 words, photo.

ISRAELL-MIXED-CITY-VIOLENCE – Israeli security forces guard the streets of Lod, weeks after rioters torched patrol cars, synagogues and homes. The attackers who killed an Arab and a Jewish resident are still at large. And a mayor who some accuse of paving the way for some of the worst civil strife in Israel’s history remains in office. Israel and Hamas struck a truce two weeks ago to end 11 days of fighting in the Gaza Strip. But the roots of the upheavals that rocked Israel’s mixed Judeo-Arab towns during the war have not been addressed, leaving these communities on edge. By Ilan Ben Zion and David Goldman. SUBMITTED: 1,220 words, photos.

NRA-GUN POLICY – Liberals applauded the legal and financial danger to the National Rifle Association, seeing the potential demise of the gun lobby as the path to tougher gun laws. But the NRA’s message has become so entrenched in the Republican Party that even if the organization implodes, its shameless pro-gun perspective will endure. By Colleen Long. COMING SOON: 1,300 words, photos by 6:30 a.m.

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WHAT WE TALK ABOUT

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BEZOS-SPACE – Jeff Bezos will explode in space during the rocket’s first crew flight. SENT: 1000 words, photos.

CHINA-WANDERING-ELEPHANTS – China’s stray elephants are becoming international stars. SENT: 550 words, photos.

CONFEDERATE-MONUMENT-RICHMOND – Virginia’s high court will hear challenges to the removal of Lee’s statue. SENT: 240 words, photos.

ROAD-RAGE-BOY-SLAIN – Two-faced arraignment in a road rage shootout that killed a boy, 6. SENT: 500 words, photos.

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LEARN MORE ABOUT THE VIRUS OUTBREAK

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CHINA-SOUTH-EAST ASIA-UNITED STATES – China pledges further assistance to countries in Southeast Asia in the fight against the COVID-19 pandemic as it seeks to strengthen its influence in the region where its main geopolitical rival, the United States, is also seeking to strengthen its ties. SENT: 370 words, photos. With VIRUS-OUTBREAK-THE-LATEST.

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WASHINGTON / POLITICS

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HARRIS-LATIN AMERICA – Vice President Kamala Harris meets with Mexican President Andrés Manuel López Obrador to discuss efforts to stem the tide of migration to the United States. SENT: 890 words, photos. COMING SOON: 990 words after 11:00 a.m. meeting.

ELECTION-GOVERNOR OF VIRGINIA RACE – Voters will decide the Democratic candidate in this year’s closely watched race for Governor of Virginia, narrowing a field of five in which former Gov. Terry McAuliffe is widely seen as having a dominant lead . SENT: 350 words, photos.

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NATIONAL

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TRUMP-COLUMNIST PROSECUTION – Donald Trump cannot be held personally responsible for the “rude” and “disrespectful” remarks he made while in office about a woman who accused him of rape, the attorneys for the Department of Justice in arguing that he be replaced by the United States as a defendant in a defamation lawsuit. SENT: 510 words, photo.

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INTERNATIONAL

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WAR-MLADIC CRIMES – Former Bosnian Serb military leader Ratko Mladic will hear whether UN judges have upheld or overturned his convictions and life sentence for staging genocide and other atrocities throughout the Bosnian War from 1992 to 1995. SENT: 360 words, photos. UPCOMING: Hearing scheduled for 9 a.m.

NKOREA-ECONOMY – North Korean leader Kim Jong Un presented economic plans to senior ruling party officials ahead of an upcoming meeting to review efforts to overcome the hardships caused by the pandemic, state media reported. SENT: 560 words, photo.

MYANMAR-SUU-KYI – Myanmar’s military junta will begin presenting its case against ousted leader Aung San Suu Kyi to court next Monday, her lawyers said. SENT: 360 words, photos. With THALANDE-MYANMAR-JOURNALISTS – Journalists who fled Myanmar find refuge in a third country.

NEW ZEALAND-FBI-APP-STING – Authorities in Australia and New Zealand say they have dealt organized crime a hard blow after hundreds of criminals were tricked into using a messaging app secretly operated by the FBI. SENT: 420 words, photos.

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BUSINESS / ECONOMY

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BEAUTY-INDUSTRY-DIVERSITY – Beauty retailers like Ulta and Sephora are increasing their beauty products from black-owned businesses as a key strategy to tackle racial prejudice in their stores. By retail writer Anne D’Innocenzio. SUBMITTED: 1,030 words, photos, video.

FINANCIAL MARKETS – Stocks edged down in Asia after a mixed result on Wall Street as investors weighed inflation risks against signs that the recovery from the pandemic is gathering pace. By business writer Elaine Kurtenbach. SENT: 490 words, photos.

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HEALTH SCIENCES

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TOC FOR ALZHEIMER’S DRUG-EXPLIANT-PATIENT – Federal regulators have approved the first new drug for Alzheimer’s disease in nearly 20 years, leaving patients to wait to see how insurers handle the expensive new treatment. By health writer Tom Murphy. SENT: 710 words, photos.

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SPORTS

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NCAA COMPENSATING ATHLETES – College sport is entering a new era: athletes will be allowed to be paid sponsors and social media influencers without fear of breaking NCAA rules. By varsity sports writer Ralph D. Russo. SUBMITTED: 1,070 words, photos.

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HOW TO REACH US

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At the Nerf Center, Jérôme Minerva can be reached at 800-845-8450 (extension 1600). For the photos, Wally Santana (ext. 1900). For graphics and interactives, ext. 7636. The extended content of the AP can be obtained at http://newsroom.ap.org. For access to AP Newsroom and other technical issues, contact apcustomersupport (at) ap.org or call 877-836-9477.


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UN judges rule on Ratko Mladic’s appeal against convictions http://fkleotar.com/2021/06/08/un-judges-rule-on-ratko-mladics-appeal-against-convictions/ http://fkleotar.com/2021/06/08/un-judges-rule-on-ratko-mladics-appeal-against-convictions/#respond Tue, 08 Jun 2021 06:06:00 +0000 http://fkleotar.com/2021/06/08/un-judges-rule-on-ratko-mladics-appeal-against-convictions/

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THE HAGUE, Netherlands (AP) – Former Bosnian Serb military leader Ratko Mladic will hear on Tuesday whether UN judges upheld or quashed his convictions and life sentence for organizing genocide and others atrocities throughout the 1992-95 Bosnian war.

Mladic, known as the “Bosnian Butcher” for leading the troops responsible for a series of deadly campaigns, including the 1995 Srebrenica massacre and the siege of Sarajevo, was convicted in 2017 and sentenced to life imprisonment .

The verdicts in the appeal case will virtually end the UN prosecution of war crimes that killed more than 100,000 people and left millions homeless.


Mladic was convicted of genocide for leading the 1995 massacre in the eastern enclave of Srebrenica of more than 8,000 Muslim men and boys. It was the worst massacre on European soil since World War II. The widows and mothers of the victims will be in court to hear the judgment of a panel of five judges led by Zambian President Prisca Matimba Nyambe.

Mladic was also convicted of other crimes, including persecution, extermination, murder and terror. He was acquitted of a second charge of genocide linked to campaigns to drive non-Serbs out of several towns at the start of the war. Prosecutors appealed against this acquittal.

Former Mladic political leader Radovan Karadzic has also been convicted of the same crimes and is serving a life sentence.

Mladic was first indicted in July 1995. After the end of the war in Bosnia, he went into hiding and was finally arrested in 2011 and handed over to the International Criminal Tribunal for the Former Yugoslavia by the pro government. -Western then in power in Serbia.

The UN tribunal has since closed its doors. Mladic’s appeal and other legal issues left by the tribunal are handled by the United Nations Residual International Mechanism for Criminal Tribunals, which is located in the same building as the former tribunal for the former Yugoslavia.


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