CorD magazine 118

DEVELOPMENT DESPITE DISTANCE

”I LOVE LASTING VALUES”

INNOVATION - THE KEY TO SUCCESS

Korean Ambassador to Serbia

actor, director, producer

V.P. of the Global CIS Pogramme DHL

RICK JACKSON

AUGUST ’14 / ISSUE No. 118

LJUBIŠA SAMARDŽIĆ

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118 August 2014 | 3

COVER ALEKSANDAR SAŠA ÐORÐEVIĆ, coach of Serbia’s national basketball team

Mission: Return the Game TO THE COURT!

CONTENTS

PAGE 8

6

Aleksandar Saša Đorđević, a man who won numerous trophies as a player with clubs and the national team and is a sporting hero of the nation, in December 2013 once again, as was the case many times during his playing career, decided to take on the responsibility himself and lead his selected Serbian national team to the basketball World Championships in Spain.

40

EFORMS, PRIMARILY, R AND ASAP

MIŠA BRKIĆ

8

MISSION: RETURN THE GAME TO THE COURT!

ALEKSANDAR ‘SAŠA’ ÐORÐEVIĆ, Coach of Serbia’s National Basketball Team

12

Slovenia Forced to Pay Back Hundreds of Millions of Euros

41

DEVELOPMENT DESPITE DISTANCE

H.E. KWANG-KEUN KIM Korean Ambassador to Serbia

GLOBAL DIARY

18

”I LOVE LASTING VALUES”

LJUBIŠA SAMARDŽIĆ Actor, Director, Producer

27 28

“REBUILDING TOGETHER”

C ULTURE NEWS & CALENDAR

46

F ACES & PLACES

63

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Business

RICK JACKSON, V.P. of the Global CIS Pogramme DHL

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A FTER WORK

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Amendments to the Labour Law

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August 2014 EDITOR: Saša Marić s.maric@aim.rs ART DIRECTOR: Ilija Petrović i.petrovic@aim.rs CONTRIBUTORS: Rob Dugdale, Mirjana Jovanović, Radmila Stanković, Steve MacKenzie, Zorica Todorović Mirković, Sonja Ćirić EDITORIAL MANAGER: Tanja Banković t.bankovic@aim.rs PHOTOS: Zoran Petrović, Časlav Vukojičić COPY EDITOR: Mark Pullen TRANSLATION: Snežana Bjelotomić SALES DIRECTOR: Melita Andrejević m.anderejevic@aim.rs PROJECT MANAGERS: Biljana Dević, b.devic@aim.rs Darko Novaković, d.novakovic@aim.rs Milica Pajić, m.pajic@aim.rs EXECUTIVE DIRECTOR: Ruža Ristanović r.ristanovic@aim.rs GENERAL MANAGER: Ivan Novčić i.novcic@aim.rs FINANCIAL DIRECTOR: Ana Besedić a.besedic@aim.rs OFFICE MANAGER: Nataša Nešić, n.nesic@aim.rs PRINTING: Rotografika d.o.o., Segedinski put 72, Subotica CorD is published by: alliance international media Makenzijeva 67, 11111 Belgrade 17, PAK 126909, Serbia Phone: +(381 11) 2450 508 Fax: +(381 11) 2450 122 E-mail: cordeditorial@cma.rs www.cordmagazine.com www.allianceinternationalmedia.com ISSN no: 1451-7833 All rights reserved alliance international media 2014

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118 August 2014 | 5

COMMENT

Reforms, Primarily,

and ASAP

There is no more time to wait and that’s why Serbian Prime Minister Aleksandar Vučić has decided that his government will not wait for the autumn session to make the economic environment more attractive for business people and to halt the threatened bankruptcy of the state.

MIŠA BRKIĆ

A

fter almost ten years, the Serbian Government has pretime as Serbia, Croatia also adopted a new labour law that should pared and proposed, and the National Assembly has make that EU member state even more attractive for doing business. adopted, the first reformist systemic document – the Macedonia has the most liberal regulations and the least red tape for Labour Law. A new labour law has been sought and exbusiness people who want to open new production facilities. pected for several years by the entire business community - from With these four new laws, the Serbian government is counting the Serbian Chamber of Commerce, to the Union of Employers of on sending a strong enough signal that this country is a good place Serbia, the Foreign Investors Council, AmCham and the National to do business.

Alliance for Local Economic Development – simply because the old Next, of course, follows a new package that must address the law created high costs for the operations of entrepreneurs and the role of the state on the market and in inudstry. This means that the owners of companies and unemployment massed on the labour state will no longer be able to have as many enterprises in its portmarket. The new law is expected to make costs reasonable, reduce folio, which it turn means that the ownership transformation (inbureaucracy and significantly improve the labour market, making it cluding privatisation) of public companies could quickly follow. more flexible and helping to reduce unemployment.

But even that isn’t enough.

The first part of the reform package, which should improve the Another integral part of a good business environment is stable business environment, also includes public finances (the so-called macroeStable public finances are an laws on privatisation, bankruptcy and conomic environment) and that’s why construction. And those laws are also integral part of a good business the Government must, convincingbeing expressly sent from the governenvironment and that’s why the ly and permanently, eliminate the risk ment to the assembly for adoption, in of bankruptcy of the state treasury. In Government must, convincingly order to achieve this it is necessary for order for the climate for doing busiand permanently, eliminate the the state to save a billion euros this ness in Serbia to be better as early as the beginning of September. year. One faucet that should be tightrisk of bankruptcy of the With the Law on Privatisation, the ened is pensions, which will also have state treasury government wants to free the state to be reduced. And the salaries of perbudget of expenses (subsidies) for about 500 companies that have sonnel employed by the state will have to be reduced. These are yet to be privatised (including 157 undergoing restructuring), and emergency measures. Immediately afterwards an investigation of that cost the taxpayer about €750 million annually. The idea of the public enterprises and the transforming of the grey economy inGovernment is that those that have a product for the market can surto legal channels must follow. On those two “fronts” alone – pubvive, while the others will have to file for bankruptcy, and thus privalic companies and the grey economy – the country could, according tisation in Serbia will finally be completed. And bankruptcy proceedto some estimates, save at least two billion euros. This would mean ings will, under the new law, be much faster and more efficient. And, pensions would not need to be cut. at the end of the first reform package, remains one of the most imThe plan of the Government of Serbia appears convincing, for portant systemic documents - the Law on Planning and Construction. now. And that not only goes for citizens. Continued low interest The previous law, dubbed revolutionary, was so “revolutionary” that it rates on borrowing show that financial markets have reacted posicaused a complete standstill in investment and thereby virtually criptively to the announcement of austerity and the start of the adoppled the Serbian economy. The new law will have to regain the confition of the reformist laws. Encouraging responses are also arriving dence of investors and make Serbia attractive for new investments. from the investment community.

The Serbian government has realised that the battle for investAll this acts as a favourable wind in the sails of the reform ment capital in the SEE region has become ruthless. At the same course, but calm seas are still far away. ■

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INTERVIEW

■ By Vladimir SIBINOVIĆ; Photo: Zoran PETROVIĆ

Mission: Return the Game to

THE COURT! ALEKSANDAR ‘SAŠA’ ÐORÐEVIĆ COACH OF SERBIA’S NATIONAL BASKETBALL TEAM

Aleksandar 'Saša' Đorđ ević , a man who won numerous trophies as a player with clubs and the national team and is a sporting hero of the nation, in December 2013 once again, as was the case many times during his playing career, decided to take on the responsibility himself and lead his selected Serbian national team to the basketball World Championships in Spain. His main mission, however, is to return the game of basketball back where it belongs: on the court, where titles and awards are won and which mainly belong to the players 8 |

118 August 2014 | www.cordmagazine.com

CAREER

BRAND

FAITH

I'm proud of every day I spent on the court and everything I did throughout my career, but that's the part that has been left behind me

Basketball became a brand in our country thanks to the many generations that have affirmed it, and have done so primarily through national team selection

We need to empower the players and restore their faith in themselves, like the generations before mine had, and mine

H

e accepted an offer to become coach of Serbian national basketball team, although he is aware that he is faced with the difficult task of restoring our national team’s place among the world’s best teams.

Apart from basketball knowledge and experience, Đorđević will be helped in this task by the fact that he is a “born winner” and that he is capable of transferring his belief in personal and team quality, confidence, optimism and positive energy to the players. The first major competition awaiting Serbia is the World Championship, to be held from 30th August to 14th September in Spain.

a silver medal at the Atlanta Olympics and secured gold at the World Championships in Greece. What was behind those results?

- There was a very strong sense of belonging, a sense of pride, as well as wounded pride. There was also a great desire to best represent my country in the world, which had in some ways unfairly convicted the country and put us in a bad place in global history.

I’m very sorry those three years just managed to coincide with the

■ It’s rare to find such a brilliant sporting career as the one you had. From your junior days to the end of your playing career, you won almost everything there is to win. How do you look at all of those years today; what are you particularly proud of and what do you think you missed out on?

- I’m proud of every day I spent on the court and everything I did throughout my career, but that’s the part that has been left behind me. That’s history that’s unchangeable. I am satisfied and honoured to have chosen this road, to have chosen this sport and that I somehow influenced the history of basketball and left my mark on the game – not only in our country, but also globally.

■ What achievements in basketball mean the most to you?

I would very much have liked to have experienced that feeling of winning trophies in a hall filled with 20,000 people in front of our home fans.

- Those are certainly team achievements and all the medals won with the national team of Yugoslavia.

I am extremely proud of that. All the medals I won with the national team are equally dear to me. Of course, club trophies have their weight and their importance, but that is incomparable with titles won with the national team.

■ You achieved your greatest successes during the pe-

riod of the collapse of Yugoslavia, wars, sanctions...

Those days were not friendly to young people, not even in sports. However, it was precisely at that time that you were twice voted European Player of the Year, you won

period when I was at my strongest individually and in my best form. Because of that I did not have a chance to compete with the team at a couple more European cups and a world championship, and that one was supposed to be held in Belgrade.

That’s because what I’m lacking is success in my own country with the national team. I constantly won medals outside the country, came back and brought them from somewhere.

I would very much have liked to have experienced that feeling of winning trophies in a hall filled with 20,000 people in front of our home fans. If our generation had played the 1994 World Cup in Belgrade, perhaps that would have been the brightest and strongest part of my career.

■ How did it happen that Serbian basketball today finds itself as an average European team; what are the reasons that most influenced this fact? cordeditorial@cma.rs |

118 August 2014 | 9

all of us involved in basketball. We can no longer allow that to be - There are many reasons. Serbian basketball should not be viewed one of our easiest and cheapest excuses – “Well, how are we going only as Serbian club basketball. Basketball became a brand in our to play and win medals when our country has such problems?” I country thanks to the many generations that have affirmed it, and say: we’re really going to play and we’re really going to win titles, have done so primarily through national team selection. The Yugoeven if our country has problems. We owe that to our country and slav national team of that time, as well as the players from this area, that’s what we will do, just as we did when the country was in left a large footprint on the world of basketball. That’s what made its greatest historical problems, under basketball the “No. 1” sport in this region. sanctions, bombed, when we gave our We are all extremely proud of that, but it all and all of our heart, not just those of brings with it a great deal of responsibilus in basketball, but rather all other athity. We must not forget that responsibility to the sport that, as Americans say, “puts letes who understood playing for their food on the table”. country in that way.

That respect towards basketball is cur■ How much does the country suprently reduced to a very low level, which is reflected in the duels and “warring” port sports, especially basketball, that limits and almost nullifies the only and are there existing objective real front where one should fight for conditions for the development and the reputation of basketball, and that’s creation of top players and compeon the court. My vision and mission is titions in Serbia, compared to the to restore the faith of all those who love other countries we compete with? basketball, for titles and victories to be - Conditions are not good and could cerachieved on the court, primarily due to tainly be much better. Is that the only the players and their mastery. We’re all task of the state? I think it is not. I think here because of them. All the rest of us we need to help the state and, during this are just support staff, whether we’re specific and complex time, also seek othcoaches, directors, presidents etc. we all er resources that would assist in the deneed to be just service personnel for the velopment of sport. The state alone canreal stars of this sport, who are always not be responsible for the development and only the players. of non-industrial and non-economic secWe need to empower the players and retors like sport, in this case basketball. As such, our task is to find another support store their faith in themselves, like the system, to fight for values, to prove our generations before mine had, and mine.

Sport in Serbia, not even quality, to attract people and companies This is because it is only through faith in basketball, is just about Red that would like to invest in our sport, to self and self-confidence that these players will once again bring us joy and medStar and Partizan. Basketball become our donors and sponsors and to als. This is a huge task and responsibility in Serbia is not only Pioneer find their economic interests in being with us. That is our great mission and of all people involved in basketball.

Hall. Basketball is played in we can only achieve it through responsiall cities and my task and the ble and quality work. All of these cheap ■ On the other hand, there is no top statements, bickering in the media, reEuropean club without at least one duty of us all is to awaken player from Serbia. How do you exthe basketball passion and ducing to street level in some personal duels, has caused us a lot of damage. plain that? love of basketball in every We are certainly well aware of that and - I don’t agree with that statement. Uncity in Serbia that we have to somehow eliminate and fortunately, this is no longer so. We will avoid it in the future. try to help our players reach that level again and to once again play a leading role in the strongest Euro■ Basketball and football are particularly exposed to pean clubs.

■ The situation is similar in other team sports that require a common spirit, collective motivation, a sense of belonging... Do unresolved relations in Serbia impact on a lack of ambition among players when they play for Serbia and, if so, to what extent?

- It certainly has an impact, but that must immediately stop being used as an excuse, both by the players themselves, as well as 10 |

118 August 2014 | www.cordmagazine.com

the pressures of both fans and politicians, while a lack of money is one of the main reasons for players going abroad, even children as young as 13. Do you see a solution to improve this situation?

- Unfortunately not at this time, given that we are not a rich country. We currently have no way to retain our best athletes who have the opportunity to go abroad and earn big money in major European or NBA teams. That’s how it should be and it is normal that it

is one of the motives of those players, though it should not be their only one. I place great emphasis on representative duties, responsibilities and ambitions, which should be great, and thus a much stronger motive than the economic side of the sport.

■ You can expect a tough job at the World Basketball Championships in Spain. Realistically, this will be one of the highest quality and most difficult tournaments for all teams in recent years. What are your realistic expectations?

■ Which team do you give the best chance of winning gold at the World Championships in Spain?

- The hosts – Spain.

■ How do you watch basketball games today? Do you still watch like a player or have you already adapted to the coaching role?

- I watch it very analytically. I follow the reactions and behaviour of the coach a lot. I’m detailed. I follow all aspects of the players.

Of course, primarily from the aspect of their basketball game, My motto is to never in my life admit individual techniques and tactics, that anyone is better than me until but also through “body language”, they prove it on the court, whatever relations with teammates and that court might be, and I compete the coaches, how they speak to the referees etc. best on the basketball court

- I expect us to do everything that is in our power to ensure that the Serbian national basketball team goes through a continuous process and seizes the chance to fight for a medal. It is not crucial whether that will be now or in a year or two, or five.

Our task, our vision and mission, must be to enable the players to believe in themselves, to know that they are ready to beat the best teams, even those that are technically better than them on paper.

My motto is to never in my life admit that anyone is better than me until they prove it on the court, whatever that court might be, and I fight the best on the basketball court. Personally, I have no fear of challenges and I do not even consider failure. On the contrary, if we do not aspire to high goals we will not attain them.

■ Which of the current Serbian players is most reminiscent of Saša Đorđević from your playing days?

- I always say that everyone should build their own “trademark” and be original in their own time and environment. I tried to do that, in my own way. I don’t think you should ever copy. I think you should always strive to be better and I hope that in the future in Serbia there will be even better players than me and the stars of my generation. Only then we will all benefit together. ■

cordeditorial@cma.rs |

118 August 2014 | 11

INTERVIEW

Development Despite

DISTANCE H.E. KWANG-KEUN KIM KOREAN AMBASSADOR TO SERBIA

T

his year marks the 25th anniversary of direct diplomatic relations between Korea and Serbia and, despite distance and a lack of traditional ties, the two countries have worked constantly to forge increasingly friendly and cooperative relations in politics, the economy and other areas. Speaking to CorD, H.E. Korean Ambassador Kim says he is particularly proud that bilateral ties have been brought to a higher level during his time in Serbia ■ The Republic of Korea has one of the world’s most developed economies and long-term development strategies for all business segments. Where is the Western Balkans and Serbia within these strategies?

Several Korean trade delegations have visited Serbia in recent years to increase bilateral trade and identify investment opportunities. Although geographical distance is a factor in the relatively low trade figures, the lack of interesting offers from Serbia is also a factor, says Ambassador Kim 12 |

118 August 2014 | www.cordmagazine.com

- After the Cold War, Korean manufacturing companies began to engage with Eastern European countries in search of new business opportunities. However, the lingering political instability and conflicts in the Western Balkans made Korean companies hesitate to come to the region.

Hence, the Western Balkans has been somewhat neglected and remains an unfamiliar region to Korean companies.

This undesirable trend began to change gradually after 2000, with the recovery of political stability in the region, but at that time most major Korean companies had already settled down in countries other than those of the Western Balkans. Partly due to the geographical distance, we need enhanced efforts to change Korean business people’s perception of the region. I hope to see more Korean companies come to Serbia and utilise the country’s untapped potential.

■ How would you rate overall bilateral relations between the Republic of Korea and Serbia?

- This year marks the 25th anniversary of the establishment of diplomatic relations between Korea and Serbia. Korea and Serbia have been constantly forging friendly and coop-

INVESTMENT

SUPPORT

EXPORT

Currently in Serbia there are several Korean companies, including the likes of Samsung Electronics, Yura and Seragem, which are all operating successfully in the country.

We really appreciate Serbia’s support for our position on North Korea’s nuclear programme and feel very grateful for the consistent support on the international stage on many occasions.

Serbia has good competitive edges in the agricultural production and processed food sectors. For example, wine, meat and fruit will satisfy Korean people and people elsewhere in the world as well.

erative relations in politics, economy and other areas since the establishment of our diplomatic ties in 1989. I am particularly proud to mention that our bilateral bonds have been brought to a higher level during my term of office over the last three years.

Currently in Serbia there are several Korean companies, such as Samsung Electronics, Yura and Seragem, operating successfully.

Besides this, a variety of Korean products have also taken root on the Serbian market though a network of importers. On the political front, we really appreciate Serbia’s support for our position on North Korea’s nuclear programme and feel very grateful for the consistent support on the international stage on many occasions. On the cultural and people to people exchange front, we have had several good opportunities to introduce Korean Artists’ performances to the Serbian general public and have increased several invitational programmes, including the Korean government scholarship programme.

I am confident that Serbia will achieve stability and prosperity and, in particular, European integration under the outstanding leadership of the current Serbian government. As a friend of Serbia, Korea will continue to foster bilateral ties in all fields to our mutual benefit.

■ In recent years there have been several meet-

ings between business leaders from South Korea and Serbia, while the great export opportunities of Serbia have been presented in South Korea, yet very little has come to realisation. What, besides geographical distance, are the main reasons for the relatively low level of, and large disparity in, trade between the two countries?

(KOIMA), visited Serbia to increase trade between our two countries and find investment opportunities in Serbia. I guess some reasons for the relatively low trade volume and the trade imbalance are certainly the geographical distance, but also the lack of interesting offers from Serbia. The Serbian economy has been in a difficult transition to upgrade its economic fundamentals. We will also see

Partly due to the geographical distance, we need enhanced efforts to change Korean business people’s perception of the region. I hope to see more Korean companies come to Serbia and utilise the country’s untapped potential

- According to Serbian statistics, Serbia has a trade deficit with South Korea and Korean export to Serbia is almost 30 times higher than Serbian export to Korea in 2013. However, in my opinion, we need to pay more attention to the low level of trade volume between the two countries, compared to each country’s major trade partners. For example, Serbia’s trade volume with Korea was USD 0.16 billion, while its trade volume with Italy, the largest trade partner for Serbia, was USD 4.73 billion in 2013. We need to boost the trade volume and economic cooperation between our two countries.

I recall that, during my tenure, several Korean trade delegations from the private sector, including the Korea Importers Association

more competitive Serbian products on the Korean and world markets when the economy successfully completes the economic transformation.

■ In which sectors could Serbia seek

chances to increase its exports to Korea?

- Serbia has good competitive edges in the agricultural product and processed food sectors. For example, wine, meat, and fruit will satisfy Korean people and people in the world as well. Hence, I wish to recommend Serbian business people access the Korean market with those items.

All our Embassy staff, myself included, agree that Serbian wine has excellent taste with very competitive price tags. You will see a Serbian wine brand at most events organised by the Korean Embassy.

Furthermore, we will see additional finished and semi-finished manufacturing products on the Korean market with the economic transformation of Serbia.

■ Korea is also known worldwide as a country where workers cordeditorial@cma.rs |

118 August 2014 | 13

spend the most time at work. How much does the difference in working habits pose a problem for Koreans to invest more in Serbia and the Balkans?

- Compared to workers of other countries, Korean workers used to be, and still are, more loyal to the companies which employ them.

In the past development era, Korean society promoted the public interests, namely economic development, at the expense of people’s quality of life. However, the situation has drastically changed.

The society increasingly places more importance on the balance between work life and personal and family life.

Returning to Serbia, Korean business people here repeatedly inform me that Serbia has good human resources with good work ethics, which are the most valuable assets of Serbia. However, they have reported that some Serbian workers have difficulties adjusting to the new capitalist working culture. In summary, most Serbian workers have sound work ethics and some minor issues will not hamper Korean investments in Serbia. We all need to recognise the cultural differences and one should try to do one’s best to understand the other’s culture.

■ From a Korean perspective, how

would you evaluate the business environment in Serbia; and what are the most common complaints from Korean business leaders?

- I would say there is no unilateral teaching-learning relationship.

Korean entrepreneurs can learn from counterparts’ best business practices and successful or failed experiences, and vice-versa. The more interactions among Korean-Serbian entrepreneurs the better. The Korean Embassy will actively support those interactions and try to provide more venues for the interaction.

Moreover, in my opinion Serbian entrepreneurs may learn from their Korean counterparts’ spirit of challenge in doing business. After the Korean War, Korean entrepreneurs started their business with almost nothing. They gradually expanded their business network worldwide by continuously unlocking every export market and also by continuously seeking new investment opportunities everywhere in the world. Nowadays a number of Korean start-ups enter the market every day. Some will prove successful and some will fail to survive. However, they will never stop starting again.

■ Yura is the largest Korean invest-

ment in Serbia to date. How would you assess the effectiveness of this investment and the company’s prospects in Serbia?

- In 2010 the Yura Cooperation established its first factory in Rača with some 800 workers initially. The Serbian government provided active support for the successful launch and operation of the Korean company. Since then Yura has expanded its production capacity in Serbia continuously. Currently Yura successfully operates four factories, employing some 5,000 workers and exporting 100% of its products to neighbouring countries.

I believe this Korean company has already become an integral part of the Serbian economy. Yura’s success would be the Serbian economy’s success. I think Yura can be considered as a win-win model for other prospective investors.

- Most Korean business leaders seem to be satisfied in general with condiKorean business people tions for doing business in Serbia. here repeatedly inform me However, they have suggested the reduction of bureaucratic red tape and that Serbia has good human that the extension of the short visa resources with good work and residence period for foreign inethics, which are the most vestors would be very helpful for their valuable assets of Serbia. business activities in Serbia.

Under Serbia’s on-going memberHowever, they have reported ship negotiations with the EU, complythat some Serbian workers have ing with EU standards in all economic difficulties adjusting to the new fields would increase the transparency, capitalist working culture predictably and stability of the busi■ To the best of your knowledge, are there any indications of the arrival of ness environment in Serbia. Furthernew investments in Serbia from your country? more, I believe the revised labour law will definitely send a clear and positive signal to foreign investors.

- I was recently informed that Yura is seriously considering inTaking this opportunity, I would like to praise the Serbian govcreasing its production capacity in Serbia through additional inernment for its continued commitments to the promised economic vestments. Furthermore, I hope to see more Korean companies’ reforms and also to its smooth handling of one the most conteninvestments in this hub of Southeast Europe in the near future.

I would like to encourage some Serbian investment and trade tious laws in every country. The government has done a great job. delegations to visit Korea. Those visits will be useful to promote the business environment in Serbia and to boost investment and ■ What could Serbian entrepreneurs learn from counterparts in trade between our two countries. your country?

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118 August 2014 | www.cordmagazine.com

■ What has provided the foundations for your country’s continuous economic growth, considering it has a relatively small domestic market compared to other countries in that region? How much is your proximity to markets such as China and Japan advantageous and how much does it hinder the sustainable growth of the Korean economy?

- Fifty years ago Korea was among the poorest nations in the world, with monthly per capita income of 87 dollars. The desperate country has now come of age as the 8th largest trading nation in the world. It is very clear that Korea, which has a relatively small domestic market and no significant natural resources, has greatly benefited from the global trade system. Trade has expanded the Korean economic territory beyond its sovereign territory.

In the case of Korea, the economy has benefited from the existence of big neighbouring economies. From Japan we borrowed advanced technologies and loans which were used to foster manufacturing industries. In China we could find export opportunities in the fast growing market and investment opportunities in the world’s engine of growth. Today the Northeast Asian economies are closely interconnected and interdependent.

We are trying to diversify our trade markets to decrease the risks of excessive dependence on a few economies.

Notwithstanding that, the U.S., China and Japan will remain Korea’s key economic partners.

■ The recent visit of the President of

China to your country was viewed as an historic event in the world. How do you explain this statement of the world media?

give some political implications to North Korea.

China is the most important partner to Korea on economic aspects, while the Korea-U.S. Alliance is an axis of Korea’s diplomatic and security policy. Korea seeks a harmonised development of the relationship with the U.S. and the relationship with China together.

■ How do you see a long-term solution to the issue of regional stability on the Korean peninsula?

- Since the inauguration of the Park Geun-hye administration, the Korean government has made efforts to push forward with the “Korean Peninsula Trust Building Process”. This policy underscores that an incremental trustbuilding process with North Korea through exchange and cooperation will lay the groundwork for inter-Korean reconciliation.

President Park, in her “Dresden Declaration” made last March during a state visit to Germany, proposed three action plans to North Korea in preparation for Korean unification: increasing humanitarian aid and family reunions with North Korea to address humanitarian issues; sharing resources and infrastructure projects for co-prosperity and; activating historical, cultural and sporting exchanges for integration.

Should North Korea make the strategic decision to forgo its nuclear programme, South Korea would correspondingly be the first to offer its active support. South Korea could also build on the Northeast Asia Peace and I am satisfied with the Cooperation Initiative to address North gradual reinforcement Korea’s security concerns through a multilateral peace and security system of our bilateral ties with in Northeast Asia.

Serbia. Various meaningful

diplomatic events have been held during my tenure in Belgrade. Among them, the performance of the Korean Nation Ballet Gala in May was the most memorable event

- The state visit by Chinese president Xi Jinping to South Korea marked an important milestone in further developing bilateral relations between South Korea and China.

In the Park Geun-hye - Xi Jinping Summit, the two leaders agreed that they are firmly opposed to the development of nuclear weapons on the Korean Peninsula. In the economic realm, the two leaders agreed to finalise negotiations aimed at forging a bilateral free trade agreement by the end of this year and establishing a direct won-yuan currency payment system.

A joint statement after the summit called for the two countries to form a “mature strategic cooperative partnership”. We need to draw attention to the fact that this was the first time a Chinese leader had visited South Korea before North Korea, which should

■ When the time comes to leave Serbia

what will remain most in your memory of your stay here?

- As Korean Ambassador, I am satisfied with the gradual reinforcement of our bilateral ties with Serbia. Various meaningful diplomatic events have been held during my tenure in Belgrade. Among them, the performance of the Korean Nation Ballet Gala in May was the most memorable event.

We had an opportunity to present a world class ballet performance to the Serbian general public, ballet enthusiasts and top officials, including First Deputy Prime Minister and Minister of Foreign Affairs, Mr Ivica Dačić. Also, this charity event extended Korean solidarity to the victims of the devastating floods. All those engaged Serbian institutions provided their best support for the success of this cultural event. ■ cordeditorial@cma.rs |

118 August 2014 | 15

NBA GLOBAL DIARY

“NBA games are exciting to watch and have global appeal. They are very popular in China.

I do watch NBA games on television when I have time.”

— Xi Jinping, President of China

San Fermin 2014: And the Winners are – the Bulls!

The highlight of the Running of the Bulls festival is the daily test of courage against a pack of 500-kilogram fighting bulls through the city streets. The most famous event is the eight-day festival of Sanfermines in honour of Saint Fermin in Pamplona, although they are held in towns and villages across Spain.

Hundreds of people are injured each year - usually from falling to the ground in the commotion - while more than a dozen are believed to have died since records began.

The festival grew out of a need to transport the bulls from where they were kept in town to the bullring. Young men would often follow them to demonstrate their bravery.

After all, who could be proclaimed as the winner? According to the local hospital report, six runners were injured this year and two still remain in a stable but serious condition. As for the bulls - they are all safe and well.

French Billionaires Rise to 67 France’s rich are getting richer, despite the crisis. The country now has 67 billionaires and the richest 500 people are worth a massive €390 billion.

While the French economy struggled to return to growth and unemployment remained at 10 per

ready-existing companies and real estate, but the policy has also led to a major rise in mergers and company takeovers.

That in turn has led the profits from sales being invested elsewhere, notably in hotels, according to Challenges, in order to avoid wealth tax, applicable to share income but not to income derived from participating in the management of a company. Source: Reuters

Mehriban Aliyeva Opens Exhibition in Cannes BERNARD ARNAULT

cent, the number of billionaires in France grew last year from 55 to 67, “Challenges” magazine found in its annual look at the country’s wealthiest citizens.

The survey includes individuals and families and family businesses, such as Europe’s top supplier of scaffolding and cement-mixers Altrad, whose founder, Mohed Altrad, is in at number 61 with a billion euros.

The top four on the list are the same as last year and three of them are in luxury goods: Bernard Arnault of LVMH – €27 billion; Liliane Bettencourt and family of l’Oreal – €26 billion; Gérard Mulliez and family of Auchan – €20 billion; Axel Dumas and family of Hermès - €17 billion.

Challenges says that part of the wealth boom is due to central banks’ policies of providing cheap credit in an effort to revive investment.

Much of that money is put into al16 |

Azerbaijan’s First Lady, President of the Heydar Aliyev Foundation Mehriban Aliyeva attended and addressed the opening ceremony of the exhibition ‘Azerbaijan: A Land of Traditions and Future’ which took place on 10th June at the Festivals and Congress Palace of Cannes, France.

The exhibition was organised within the framework of the Days of Azerbaijani Culture being held with the support of the Heydar Aliyev Foundation.

The objective of organising the

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exhibition ‘Azerbaijan: A Land of Tradition and Future’, which unites a few exhibitions, is to promote Azerbaijan’s old and rich history and culture.

Microsoft Cuts 18,000 Jobs Microsoft announced its biggest staff layoff ever as new chief executive Satya Nadella called for a new focus at the U.S. tech giant, while integrating the Nokia phone division.

The company said it would slash 18,000 jobs from its global workforce over the next year, the majority from the Nokia handset unit acquired this year.

The cuts represent about 14% of Microsoft’s global payroll of some 127,000 workers. The company will take a charge of between $1.1

billion and $1.6 billion for costs related to the redundancies.

Of the total, some 12,500 professional and factory positions from Nokia “will be eliminated through synergies and strategic alignment,” Microsoft said.

SATYA NADELLA

Nadella said in an email to employees that the “difficult but necessary” cuts are part of a plan to bring a new direction to the tech titan based in Washington state.

Microsoft completed its takeover of Nokia’s phone unit in April in

The Commonwealth Games opened in Glasgow The 20th edition of the Commonwealth Games was officially opened in Glasgow on July 23 with a dazzling opening ceremony at Celtic Park.

The quadrennial multi-sport event will see approximately 4,500 athletes from 71 Commonwealth nations and territories complete across 17 sports over the next 11 days in Scotland’s second city.

An estimated 3,000 people were involved in the ceremony that took place at the home of the Scottish football champions Celtic, with a capacity crowd treated to entertainment from famous Scots such as Rod Stewart, Susan Boyle and Lulu.

“Your accomplishments over the coming days will strengthen the bonds that unite us”, said Queen Elizabeth II on the opening ceremony.

Several of the world’s top athletes are scheduled to appear at ‘The Friendly Games’, which Scotland is hosting for a third time.

Organisers of the event have been busy drumming up a frenzy for the showpiece and have promised to deliver an “outstanding Games - one that will be an exemplar for future organising committees”.

Birthday "I didn't sing, they just gave me flowers – that was nice too – and champagne.

I should have sung along, then it would have been better. But thank you ." — Angela Merkel, German Chancellor

a move that strengthened its position in mobile devices. The cost was around $7.5 billion. Source: AFP

Museum of the Bible

DAVID GREEN, CEO and founder of Hobby Lobby

David Green, CEO and founder of the Hobby Lobby arts and crafts chain store, plans to build a museum of the Bible in Washington D.C. by 2017.

The Green Collection is “one of the world’s largest private collections of biblical texts and artefacts,” according to CNN, and contains thousands of artefacts and biblical texts. Some of the highlights include the Codex Climaci Rescriptus, one of the oldest known Bibles, cuneiform tables, the second-largest Dead Sea Scrolls collection in private hands, Jewish scrolls, letters from Martin Luther and illuminated manuscripts, notes Passages, an interactive Bible museum currently on display in Missouri.

The Bible Museum, official name to be determined, will house the David Green Collection and other items from different collections.

“Our intent is for this museum

to showcase both the Old and New Testaments, arguably the world’s most significant pieces of literature, through a non-sectarian, scholarly approach that makes the history, scholarship and impact of the Bible on virtually every facet of society accessible to everyone,” said Mark DeMoss, Museum of the Bible spokesperson.

The Greatest Serbian Rafting – Drina Regatta

Call for Commercial Satellite Network on Mars In what may be the ultimate longdistance service, NASA is calling for a commercially owned and operated satellite network on Mars.

The U.S. space agency needs to keep in touch with its rovers, landers and orbiters that have been chipping away at studies and experiments to learn if the planet most like Earth in the solar system ever supported life.

The robotic probes, however, are

useless if they cannot relay their results and the two communication satellites currently in orbit are getting old.

The ageing of NASA’s Mars communications system comes as the United States, Europe, Russia and India mount a fresh wave of science campaigns, including two atmospheric probes slated to arrive on Mars in September, and two lifehunting rovers due to launch in 2018 and 2020.

“There is a potential communications gap in the 2020s,” NASA wrote. “With that in mind, NASA is interested in exploring alternative models to sustain and evolve the Mars relay infrastructure.”

Proposals are due by 25 th August. The solicitation is open

Again this July the traditional 13th consecutive Drina Regatta attracted thousands of nature lovers from the country and abroad to the starting line in the village of Rogačica near Bajina Bašta.

Accompanied by trumpets and songs, the rafters embarked on their 40 kilometre-long journey along the Drina, using the most varied makeshift boats, kayaks, rafts, inflatable mattress and tyre inner-tubes.

Although this was the 13th event, this flotilla still succeeded, in a carnival atmosphere and good company, in reaching the finish in Ljubovija.

During lunch the regatta participants docked at the confluence of the rivers Trešnjice and Drina, where they could enjoy army beans.

Rescue and medical teams were positioned along the route of the race to ensure the safety of rafters, although their intervention was not required.

The event is organised by the “Drinksa regata” rafting club, the Tourism Organisation and Municipality of Ljubovija.

The Drina Regatta was first held in 2002, organised by the Drinksa regata rafting club from Ljubovija. to all organisations, including U.S. industry, universities, non-profit groups, NASA and other government centres, as well as international organisations.

Long-Lost Temple Discovered in Iraq Life-size human statues and column bases from a long-lost temple dedicated to a supreme god have been discovered in the Kurdistan region of northern Iraq.

The discoveries date back over 2,500 years to the Iron Age, a time period when several groups — such as the Urartians, Assyrians and Scythians — vied for supremacy over what is now northern Iraq.

“I didn’t do excavation, just ar-

chaeological soundings —the villagers uncovered these materials accidentally,” said Dishad Marf Zamua, a doctoral student at Leiden University in the Netherlands, who began the fieldwork in 2005. The column bases were found in a single village while the other finds, including a bronze statuette of a wild goat, were found in a broad area south of where the borders of Iraq, Iran and Turkey intersect.

cordeditorial@cma.rs |

118 August 2014 | 17

■ By Radmila STANKOVIĆ

INTERVIEW

”I Love Lasting

VALUES”

LJUBIŠA SAMARDŽIĆ

ACTOR, DIRECTOR, PRODUCER

At the age of 11 his father left the rugged three-way border area of Herzegovina, Montenegro and Konavle, where he knew only blue skies, lightning, thunder and rain, to 'seek opportunities’ in the mines of Turkey (Istanbul). He came to a halt in Goleš near Kosovo Polje, where he met Radmila, a hostess in the house of jeweller Đoka Janković, who made a beautiful silver model of Grač anica Monastery and gave it to King Petar. They were married in Pristina and soon after, his father with a miner’s pickaxe and his mother with a belly to her chin, set off on the Skopje-Montenegro road, where their son Ljubiša was born on 19th November 1936 18 |

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FILM

CREATIVITY

POLITIC

I have survived all the Scylla and Charybdis of artistic life, temptations, and here I am after this many years still in the world of film.

Creativity is not mathematics. Rather it is a challenge, a sleepless night, a fleeting moment in which everything is born in the first frame.

I'm not ready to deal with a side-line in politics. Only a little is left for me until the end. I want to live with Mira to the fullest.

D

Lifetime Achievement Award etc. uring World War II they continued their nomadHe is proud that he did not accept an offer from the biggest ic travels that ended at their final destination, production house in England, that of the brothers Robert and RayJelašnica near Niška Banja, which Ljubiša considers his hometown and where the graves of his parents mond Hakim, after winning the Golden Lion at Venice in 1967, or are today located. opt to pursue his career in the UK and the U.S.! Two critical reasons His father died from the nasty mining disease silicosis. Growing existed for that: “first and foremost was my love for Mira, who at up in poverty, but a harmonious family, compelled this young man that time brought into the world my son Gaga, and my love and eager for everything, but most of all knowledge, to head out into respect for her has still not dissipated until today”. He summarises the world. Today our Ljubiša is reminiscent of a passage that was written long ago by renowned Politika Newspaper critic Milutin Čolić, in the book LJUBIŠA: “For Ljubiša work is not an obligation... nor an opportunity, like it is with the Americans, nor a habit like that of Englishmen, destiny like for Germans, or the curse that it is for us. For him work is will, seeking meaning, a riddle that drives his spirit and relaxes him. He loves to work and nothing you love can be difficult... The most beautiful thing in the world is work combined with love!”

Ljubiša Samardžić completed the Steven Sremac high school in Niš, which is where Branko Miljković, the slightly older and tragically shortlived poet from Gadžin Han, also began his poetic journey. The future actor he did not write poems, LJUBIŠA SAMARDŽIĆ and his wife MIRA but he did attend literary evenings out of curiosthe second reason simply: ity and today speaks about the appearance of the “I love this country; “I love this country; whatever it’s then future great poet, who would go on to cut whatever it’s like, it’s like it’s mine! Here I grew up, mahis life short in Zagreb: mine! Here I grew up, “I remember his stature, his distinctive black tured, settled down and believed that matured, settled down hat and sense to softly communicate content and the Yugoslavia of 1967 was the promemotion of his strange, upon first hearing even ised land, or rather the Union of six and believed that the incomprehensible, lyrics. His atmosphere and republics and two provinces in which Yugoslavia of 1967 was him as a person remained as a permanent event a thousand flowers bloomed! It enthe promised land, or from my youth.” joyed certainty and from year to year rather the Union of He was in his third year of acting studies the films grew more open-minded, when he landed a role in the film Igre na Skelamore exciting, more recognised, resix republics and two ma (Dancing on Scaffolding) in Zagreb. He then spected and loved.” provinces in which became the irresistible Mikajlo from PrekobroUnfortunate events in his family’s a thousand flowers fate determined the day for Ljubiša’s jne (Superfluous)... and since then he has not bloomed!” new creative direction. He was unstopped performing, then becoming a director, being a producer. For more than 55 years: able to get over the recurrence of his For his more than 150 film and television roles he has won son Gaga’s illness. In anger, he decided to work as a director for six Golden Arena awards at the Pula Film Festival, a Golden the first time in order to tell the story of the chaos in Belgrade in Lion at Venice, the Herceg Novi Grand Prix for his directorial 1999, between the bombs and the sirens. In his focus was Man, torn debut with the film Nebeska Udica (Sky Hook), a Grand Prix for between fear and questions, “did it have to come to this?” After 26 the acclaimed Jesen stiže, Dunjo moja (Goose Feather), a Grand years, his film Sky Hook opened major doors at the anniversary Prix for Ubistvo s predumišljajem (Premeditated Murder), the instalment of the Berlin Film Festival in February 2000. The film Seventh July Prize, the Pavle Vuisić Award, the Alexander Lifka entered the competitive programme and was adored by the presicordeditorial@cma.rs |

118 August 2014 | 19

performances. Everything breathed strength and power. Alongdent of the jury, Andrzej Wajda, while the audience greeted him on Potsdamer Platz with a standing ovation, but that view was not side that, leafing through his book on cinematography, about him shared by the government’s official representative, the Minister of and his understanding of the essence of creativity, still buzzes in Culture of the Bundesrepublik, who vetoed any kind of award for my ears. I came alive. I imagined. I became infatuated. Film slowly Samardžić’s film. American Variety’s Eddie Crocella wrote that the crept into my world. film is: “...An exciting saga of war, sports, beer and love..., this great Shortly after that, the film of Alan Resnais came out, all misty, debut from famous actor Samardžić is astonishing” in the mystique of Last Year at Marienbad. That directorial fragilHe did not hesitate to go to Sarajevo or Dubrovnik or Sloveity, even slight slowness, which I didn’t even notice in those days, carved into my memory like an unusual, fascinating film. However, nia... at a time when that was not so desirable following the bloody the greatest excitement was inspired by the Henri-Georges Clouzot breakup of Yugoslavia. He said that friends are not abandoned in film Wages of Fear. A brilliant psychological thriller, a drama with troubled times and was proud that he preserved them even when Yves Montand, Charles Vanel and Peter it was most difficult: van Eyck... In that film I uncovered the “I spoke many times to Šiba Krvavac director’s thread, a new dramatic creain 1992, while he was lying in a hospital bed, or to Branko Bauer or Ivan Hetrich, tive world of simplicity and vitality, and or Stipe Šuvar, who helped my Mira after two years of law, somewhat unwhen Gaga was in Zagreb, at Rebro [hobelievably, I enrolled in the Academy of Theatrical arts, film, television and tel]. That mutual care remains as life’s radio. highest human postulate!”

And so, when you do things hand During the bombing of Yugoslavia in over fist, 55 years pass by and leave 1999 he sent a public letter to the NATO me with parts and numerous awards, terrorists in which he wrote, among among others six Golden Arenas of the other things: Yugoslav Film Festival in Pula, a Golden - I do not know if you are aware of Lion from Venice, shoulder-to-shoulder what you have accomplished with your with Luis Buñuel, and many Grand Prix attack on my country? Evil without awards... As you can see, it is not success precedent. Force has brought no good to for a man to do what he does not love. anyone, remember that. He who takes Rather, success is to love what he does. up the sword, will perish by the sword.

From then until today, I have survived Your attack is not a step towards the MIRA, LJUBIŠA and SOPHIA LOREN at Pula following the premiere of “The Battle of Neretva” all the Scylla and Charybdis of artistic third millennium, but rather a step tolife, temptations, and here I am after this wards the Third World War, towards In my work there is no trace many years still in the world of film... collapse, towards an abyss... of bitterness. When choosing Samardžić, popularly known as Smoki, finished his letter with the ■ When you’re stuck in the house and topics and talking about the words: You have stumbled into a dead troubles, from every moral, life the TV is showing one of your films end due to which you do not know how or series, do you watch or change the morsel I try to extract the Man, channel? you will clean yourself of this dirty war. and in him find that which Do not forget, if a man kills a man, as - I like to keep an eye on that which has you do, he becomes a murderer. If he worth and has eternal value. A few days is characteristic, personal, kills thousands, he becomes a conquerthreatened, hidden, sublime, ago on HTV [Croatia], for the umpteenth time, was being shown the brave, aror. We have lost and died before the noble and unusual, in short, unruly, but even theirs was not forever. tistic, cult series Kuda idu divlje svinje the truth and the measure of (Where Do Wild Pigs Go) about 1941 on the outskirts of Zagreb. That series ■ Recently, on the occasion of the 55th taste for all his weaknesses was made in the crisis-filled Yugoslavia anniversary of your career in film, you of the ‘70s, in the time of the awakening of the MASPOK (masovni donated your awards to the Yugoslav Film Archive & Cinemapokret - mass movement), the ‘Croatian Spring’; Croatian discontheque. Do you remember your first trip to the Cinematheque?

When was it, what were you thinking about back then, which film tent because everything their lavish coastline brought from tourdid you watch and what were the first films you saw? ism went to the capital of Belgrade. But the riots did not deter the creators, neither director Ivan Hetrich, nor Croatian Television, nor - As a first year law student from the province, in accordance with the acting team. The shooting was unusual. It was graced with synmother’s wishes, in 1956 I walked into the Cinematheque, this film sanctuary, with undisguised curiosity. In awe I watched the film chronisation, harmony and work to be remembered. Unfortunately, Battleship Potemkin by Sergei Eisenstein. I remained wowed. I was many of my colleagues from that series are no more. Hetrich is also confused in front of the cinematic expressiveness and monumental no longer with us, with whom I was friends until his departure 20 |

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in 1999. I was the only actor who could speak on informal terms with him. We corresponded even in the darkest days of the Merciful Angel over the skies of Belgrade. Also dearly departed are Fabijan Šovagović, Ivo Serdar, Jovan Ličina... From day to day there are fewer of us... But they remain in the memory and memorialised.

■ Is there a film role you would have preferred not to have played?

- I could not give you a legitimate answer to this hypothetical question of yours. There are so many of them. Creativity is not mathematics. Rather it is a challenge, a sleepless night, a fleeting moment in which everything is born in the first frame. A role is either born or is not born. There are roles that you grab by the hands in the first frame and conquer in a moment, with it being lord of the scene until the end of recording.

I remember the role of Lampáš in Žika Mitrović’s Savamala. From the first moment I did not allow that lumper proletarian to slip through my hands. The Arena in Pula was on its feet. I knew I was being awaited by a Golden Arena award.

■ From today’s perspective, how would

you determine the importance of the former Yugoslav cinematography in which you played your greatest roles and achieved your greatest success?

Can it be compared to what is today represented by the individual film industries of Serbia, Croatia, Bosnia-Herzegovina etc.?

pictures) Lordan Zafranović, Bitka na Neretvi (The Battle of Neretva) again Bulajić, Valter brani Sarajevo (Walter Defends Sarajevo) Hajrudin Šibe Krvavac, Samo jednom se ljubi (You Only Kiss Once) Rajko Grlić, Petrijin venac (Petria’s Wreath) Srđan Karanović... let me be forgiven by those who disagree with my list.

■ Are you “Yugo-nostalgic”?

- I’m the first Yugoslavian and Serbian producer to have restored relations with the former republics we unnecessarily went to war with. In those old republics, and new states, I am not referred to by my first name, but with a raised finger and the words: Legend, may you live!

However, in my work there is no trace of bitterness. When choosing topics and talking about the troubles, from every moral, life morsel I try to extract the Man, and in him find that which is characteristic, personal, threatened, hidden, sublime, noble and unusual, in short, the truth and the measure of taste for all his weaknesses. I am proud that I made the hot film Sky Hook while the bombs were still dropping over Belgrade. I am also proud that this film entered the competitive programme and, alongside Wim Wenders, opened the jubilee 15th Berlin Film Festival. Meaning, it made sense that I also started directing. I left a trail that no one can dispute or marginalise.

- That was not the cinematography of ■ What are you doing these days? six republics and provinces like today!

- With my Mira I am preparing, with a Rather that was the cinematography small circle of friends, and without great I still act like a big brat. I still of unity, harmony, accord, shared enpomp and mass media clutter, to mark do not comprehend my age. the 50th anniversary of our life together. deavour, in a sense it was the European Union in miniature. That was a Great During those days we’ll go take a look Fleeing from the drabness, I country. Yes, with a capital “G”. That at Jagoš Marković’s new direction for still dream and persistently was once and the unique cinematograRomeo and Juliet at the Dubrovnik Sumlist the Travnik Chronicle, that mer games. We are also looking forward phy of Yugoslavia was extinguished in testamentary work by Andrić to Dunda Maroja, an iconic piece by Mathe ‘90s. There brotherhood and unity were honed and built, with song and rina Držić which saw celebrated perfordance, as well as year on year recording increasingly touching, capmances way back in the ‘60s from Mira Stupica and Peter Kvrgić. Of course, we won’t skip any of the concerts because their guests are tivating, exciting, fascinating films about the victory over fascism, to be admired – from Barenboim to Ivo Pogorelić. As you can see, but also about our lives in the second half of the last century. art separates us from the drab reality and makes life more complete Allow me, for the sake of credibility, to arrange a few films from and filled with smiling and laughing which, you will admit, heals... those days, which will convince every reader about the golden age of Yugoslav film. Ne okreći se sine (Don’t Look Back, My Son) Branko Bauer, Deveti krug (Ninth Circle) France Štiglic, Ples na kiši (Dance ■ Are you preparing something to work on? in the Rain) Boštjan Hladnik, Prekobrojna (Superfluous) again Bau- I still act like a big brat. I still do not comprehend my age. Fleeing from the drabness, I still dream and persistently list the Travnik er, Kozara Veljko Bulajić, Jutro (Morning) Purišo Đorđević, Skupljači Chronicle, that testamentary work by Andrić. That book has been perja (Feather Collectors) Saša Petrović, Breza (The Birch Tree) at the end of my fingertips for years. On the table. Beside the bed.

Ante Babaja, Misterija orgazma (Mystery of the Orgasm) Dušan My nightmare and headache. A novel once written; modern, Makavejevo, Hamlet u selu Mrduša Donja (Hamlet in the Village of contemporary, filled with lofty ideas and sentences, whose themes Mrduša Donja) Krsto Papić, Okupacija u 26 slika (Occupation in 26 cordeditorial@cma.rs |

118 August 2014 | 21

and theses, in the very remembering, reverberate like drums in the ears. In it I came across the humiliation of small, peaceful, poor, mixed communities like Travnik and our Balkans have been since time immemorial. I quickly found an analogy with the present.

Only the great can write a novel of lasting value. And my Mira, without mincing words, lifts her voice to my dreams.

“Man, you still haven’t put that text down? You have been around so many years, you’ve realised all your dreams, received recognition for all three fields of work, so what more do you want?

Do not allow yourself anymore to beg anyone for anything! …Face it man, nobody’s even up to your knee. See that the time has come for the younger. Continue your walk with dignity. Trust me, a walk along the River Sava is also the art of enjoyment”?! I was speechless. It overwhelmed me. I adore her. Thanks to her. I am actually 78 years old...

disorder suits the few. And the line of the discontented is long.

Especially among young people.

■ How much are you interested in politics at all? And how do you view the Serbian political scene today?

- Politics is not for my stomach. I do not like the force, aggression, dishonesty and exclusivity. I cannot keep quiet about truth, justice, respect, and I do not like to bow my head to those who do not deserve it and who tailor information in tabloid newspapers that court them and how they raise up visionary solutions while the country is in “viscous mud”.

Do they not see that even today they are tyrants, oppressors and tormentors of our lives from the same ilk, who sliver across the land of Serbia, conditioning, blackmailing shamelessly, threatening and stealing what does not belong to them and disobediently blaming the “Merciful Angel”, as was the cost in ‘99.

What contempt. Such cynicism. What a ■ It remains less well known in public blasphemy before God, before which that you launched an initiative with the LJUBIŠA pictured with SHIRLEY KNIGHT and LUIS BUÑUEL, as the joint winners of the 1967 Golden Lion Award in Venice they closely worship, pray and are baplate Prime Minister Zoran Đinđić.

- After the great success of the film tised. “Shame on them”, as my late mothPolitics is not for my stomach. er would say.

Natasha in Pula in 2001, where the I do not like the force, screening in the Vespasian Arena was See how perfidious they are, disattended by 8,000 spectators, I spoke solving the rich countries of North Afaggression, dishonesty and for an hour with the late Prime Minrica, Asia, which are on their knees! All exclusivity. I cannot keep quiet because of interests. Wealth, force and ister Zoran Đinđić. I familiarised him about truth, justice, respect, the race towards military supremacy with the problems of cinematograand I do not like to bow my collapses and degrades civilisation to phy. I suggested to him the European the point of pain and man becomes just concept, which we both agreed reprehead to those who do not a number. Zero. I do not know how far sents a great foundation for the future deserve it they will get. They will eat themselves. of our film. He gave the proposal to They have demolished the hemisphere, the ecology is drawing its the Minister of Culture, who was present, and told him to legally last breath. Snows do not give them peace. Wildfires destroy forresolve this issue in one year. The problem remains because the minister did not take the PM’s advice, remaining deaf and dumb ests, the lungs of the planet. Tsunamis bring them catastrophic to his express request, until this day. And because of that still floods and fires that destroy the environment and the planet. That’s undefined status of film, all anomalies are possible in the distriwhy I’m not ready to deal with a side-line in politics. Only a little is left for me until the end. I want to live with Mira to the fullest. ■ bution of money from the state budget, which we fill. Evidently,

Mira

He fell in love with Mira, the granddaughter of the Archpriest of the Church of Sremska Mitrovica, who captivated him with her beauty, personality, intelligence, charm and particularly stubbornness.

Bringing them together took two years. He was as stubborn as a mule, while she remained dignified and unwavering. But his Southern persistence paid off. His marriage brought him indescribable joy. He found the kind of life companion he’d wished for. Then Gaga came into the world, followed shortly after by Jovana: “I’m starting to adore my Mira. She brings into the home innate mastery and intrinsic peace.

And she brought what I wished for: femininity, diligence, commitment, warmth and care that the children grow up beside their mother, which is ideal for every family, is it not? The departure of our son changed everything completely. Mira includes her heart in the business of production.

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118 August 2014 | www.cordmagazine.com

DONORS CONFERENCE FOR SERBIA AND BOSNIA AND HERZEGOVINA

“REBUILDING TOGETHER” The European Commission, together with France and Slovenia hosted international donors conference in Brussels on July 16 to support BosniaHerzegovina and Serbia after devastating floods in May. The floods were described as the worst to hit the region in a century, with more than 70,000 displaced people in both countries

I

management and protection, disaster prevention and rebuild transn order to respond to both Serbia and Bosnia and Herzegovina call and to support both, the European Commission, France port and energy infrastructures. The assistance will be implementand Slovenia took the initiative to convene an International ed in a coordinated manner, with EU support, by using the existing Donors’ Conference under the motto “Rebuilding Together”. structures already in place in both countries and in close cooperaDelegations of over 60 countries and 23 international organisation, with the international donors’ community.

At the donors’ conference, both countries and donors agreed on tions, as well as representatives from the civil society and private the following: sector gathered in Brussels. The conference once again illustrated the great solidarity for Bosnia and Herzegovina and Serbia and managed to overall mobilise pledges of €809.2 million for Bosnia FLOOD PREVENTION AND FLOOD RISK MANAGEMENT and Herzegovina and €995.2 million for Serbia to face the finanSerbia and Bosnia and Herzegovina are aware of the need to imcial needs for 2014 of prove their disaster risk €650mln and €830mln reduction capacities, “Six months from now, when the follow-up event respectively, with anothmechanisms and infratakes place, I trust that the emergency work will have er €41.4mln for crossstructures, therefore, they been finished and that, thanks to your hard work border activities. will develop integrated and our solidarity, the reconstruction work will be The financial assisflood risk mapping and well on its way to being finalised. I also hope that we vulnerability assesstance will provide the will be able to say that we are taking measures to both countries with highments. They will also deensure that any future floods never cause the same ly valuable help to answer velop sound flood risk devastation.” - STEFAN FÜLE, EU Commissioner the immediate needs of management plans and affected people before introduce proper land and winter comes, starting with the reconstruction of houses and public urban use planning, promoting sustainable land use practices that buildings, rehabilitation of livelihoods as well as rapid restoration of improve water retention. In parallel, work on flood defenses and water and energy supply. It will also contribute to consolidate flood climate resilient infrastructure needs to be enhanced. The rehabil24 |

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itation of the agricultural sector remains crucial but also requires serious improvements in the field of weather and hydrological forecasting. The two countries will further introduce early warning systems at all levels, upgrade contingency planning and emergency measures. The countries should intensify their efforts to fully align with the cornerstone Floods Directive of the EU.

ensure the protection of critical energy production sites. They will foster the production of clean and sustainable energy also as a potential means to diminish risks and generate competitiveness. Buildings will be rehabilitated aiming at high environment standards, in order to improve their energy-efficiency and reduce their carbon footprint.

FINANCING PRIVATE SECTOR COOPERATING REGIONALLY FOR RIVER BASIN MANAGEMENT Support from international financial institutions and other donors Bosnia and Herzegovina and Serbia belong to the same river ba- is necessary to help the private sector, offset the governments’ sin, which requires efficient regional cooperation. Therefore, in- revenue losses, and foster job creation and prosperity. To that end, land waterway infrastructure needs substantial improvements loans will need to be restructured and/or redirected for recovery and clear linkages with climate-resilient flood prevention and and reconstruction efforts, in particular to small and mediumoverall river basin management. River restoration and dredge sized enterprises. Debts payments could also be rescheduled by banks while ensuring prudenactivities need to be carried out to support also the natural tial standards. Financial and adcapacity of rivers and floodministrative procedures will be revised by national authorities plains to retain water. The two in order to reduce time lapses countries will start work on for the approval of investments developing improved mainteand the execution of programs nance standards in river infraand projects. Proper distribustructure, in line with the ongoing work within the Danube tion channels, including microand Sava river commissions. finance, should make financial Embankments, dykes, and assistance attractive. A culture dams will be reconstructed and of damage insurance must be upgraded using internationally developed in both countries. agreed norms for reconstrucSOCIAL DIMENSION tion. The European CommisOF RECOVERY AND sion will call a high level reRECONSTRUCTION gional meeting in the autumn During the recovery and reconto support the development of a regionally integrated flood struction phase, specific atten“They want us to spend the money response strategy. tion should be granted to the exclusively for the purposes for which DEVELOPING CIVIL most vulnerable groups of poputhey are allocating it and I believe our PROTECTION MECHANISMS lations such as children, women, governments need to bear this in mind as we senior citizens, Roma populaThe recent damages proved the must not allow ourselves to stray in any way tions and disabled persons in need for a wider risk manageand betray the trust, which is obviously so order to avoid further aggravatment framework to tackle pogreat that they decided, for the first time in ing their situation. Priority suptential natural disasters. Such history, to organize a donors’ conference like port should be provided to these framework requires from the this.” TOMISLAV NIKOLIĆ, Serbian President groups in particular for housing two countries to complete the EU compliant flood hazard, solutions as well as ensuring flood risk and flood management maps and take full participation their access to health and education. In sum, the reconstruction to the EU Civil Protection Mechanism. Bosnia and Herzegovina and should also be pursued in a participatory manner.

Serbia confirmed their firm intention to join the European Union Civil Protection Mechanism following the invitation by the Euro- TRANSPARENCY, EFFICIENCY AND ACCOUNTABILITY It is of paramount importance that authorities of Bosnia and pean Commission.

Herzegovina and Serbia make efficient, transparent, including through websites, and swift use of the financial assistance reENERGY AND ENVIRONMENT POLICIES The rising frequency of natural hazards such as these floods has in- ceived. Donors’ coordination should be improved with EU supcreased the awareness of environmental risks and the need for fight port. Swift implementation of the pledges is expected as it would against climate change and its causes. The diversification of energy substantially contribute to the needed reconstruction. A high sources and production will be further improved by the two countries level meeting will be onvened early in 2015 to monitor the impleto reduce energy dependence. This will also decrease dependency of mentation of these conclusions. floods vulnerable generation capacities. The countries will strive to Source: europa.eu, Photo: Tanjug cordeditorial@cma.rs |

118 August 2014 | 25

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118 August 2014 | www.cordmagazine.com

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JULY 2014 BUSINESS LEADERS’ MEETING POINT

PAGE 36

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References From Over 400 Projects

PAGE 40

Banking

EU Court Puts Slovenia Under Pressure cordeditorial@cma.rs |

118 August 2014 | 27

COMMENT AMENDMENTS TO THE LABOUR LAW

■ By KARANOVIC & NIKOLIC LAW FIRM

Levelling the Playing Field After several months of social dialogue and under close media attention, the Parliament of the Republic of Serbia adopted Amendments to the Labour Law (the “Law”) that will come into force on 29th July 2014. These amendments are long awaited and have been avidly discussed for some time due to divided public opinion

T

he Labour Law was initially adopted in 2005. Although it has been subject to few amendments since, it did not significantly alter its main institutes and concept until now.

In the meantime, labour and employment environment has undergone notable changes. In particular, number of privately owned companies and foreign investors significantly increased, new technologies are incorporated into daily work, and market conditions and opportunities change faster than ever. Moreover, European Union regulation, enactments of the International Labour Organisation, as well as international employment practices, cannot be disregarded as influential factors that required a different approach to the working environment.

The existing Labour Law could not grasp its pace with the fast changing business environment as it did not provide flexibility in employment relations that market now requires. In addition, although it was overall inclined to employees, it did not effectively contribute to increase of employment rates or to stability of working conditions. Quite on the contrary, due to its somewhat rig28 |

id provisions, the number of employers who engage persons through unreported employment and who disregard the provisions of the Labour Law has grown in previous years. On the other hand, the employers who are willing to work prop-

EU regulations, enactments of the International Labour Organisation, as well as international employment practices, cannot be disregarded as influential factors requiring a different approach to the working environment erly and to abide by their legal obligations are faced with cumbersome processes, limitations and significant costs.

Also, quite a few provisions of the Labour Law were ambiguous and contradictory to each other, which lead to their different and often opposite interpretation in the practice. Not only that this negatively affected interpersonal relations between employers and employees, but was also known to influence decisions and actions of the competent bodies, which became more and more unpre-

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dictable. All this increased the level of legal uncertainty in an area that should be one of the pillars of each community.

Considering the aforesaid, it is understandable why the Law was expected with such anxiety by both employers and employees and why it was discussed with such fervency.

Amendments introduced by the Law are numerous, and although it is not possible to present them here in details, we would like to briefly note some of the main novelties which may give a better picture of the direction where the employment and labour relations in Serbia are headed: ▪ DEFINITE TERM EMPLOYMENT The maximum duration of definite term employment has been extended from 12 to 24 months. The Law also prescribes specific circumstances by which definite term employment may exceed 24 months, as follows: ‒ Work on a specific project (until completion of such project); ‒ Work at a newly established employer (up to 36 months); ‒ W ith unemployed individuals who have up to 5 years of service until retirement (until fulfilment of retirement conditions).

▪ INCREASED SALARY FOR YEARS OF SERVICE AND SHIFT WORK An employer is obliged to pay to an employee an increased salary only for the years of service at the current employer and no longer for all years of service that employee has.

Also, the obligation to pay increased salary for shift work is abolished.

▪ SALARY COMPENSATION CALCULATION BASIS The basis for the calculation of salary compensation due in case of an employee’s absence from work (holidays, sick leave, annual leave, paid leave etc.) has been changed, so that the employee in the above mentioned cases is entitled to salary compensation in the amount of the average salary over the previous 12 months. To remind, previously the base for calculation of the salary compensation was the average salary over the previous three months.

▪ RETIREMENT PAYMENT The minimum amount of severance pay for employee going to retirement has been decreased from three to two average salaries in the Republic of Serbia.

▪ DISCIPLINARY MEASURES The Law introduced new options for employers to issue disciplinary measures to an employee that has breached workplace disciplines or work duties, i.e.: ‒ suspension (without salary) for a duration of 1 to 15 working days; ‒ monetary fine in the amount of up to 20% of the basic salary, and in duration of 1 to 3 months; ‒ warning letter, where the possi-

The enactment of this law is only the initial step – its implementation in practice, by all social partners, will show in the coming period how these changes will be understood and how they will actually benefit the community as a whole

▪ REDUNDANCY PAY In cases where employees are made redundant, an employer is obliged to pay severance only for the years of service at the current employer (and related parties) – in the amount of one third of an employee’s salary for each completed year of service.

This is one of the most crucial changes, as employers have objected for years to the previous manner of calculation of severance payment – which obliged the current employer to provide payment for all years of service acquired by an employee with all previous employers.

bility of employment termination is notified in case of a repeated breach of the same working duty/working discipline over the next six months.

Previous possibilities of disciplinary measures against employees were much more limited. Suspension without salary was limited to maximum three days, and was therefore ineffective. Therefore, in the practice only warning letter and termination of employment relation were actually used – which was not always in the interest of either the employer or the employee.

▪ TERMINATION OF EMPLOYMENT IN THE CASE OF BREACH OF WORKING DUTIES / DISCIPLINE The Law enlists specific examples of breaches of working duties / discipline by which an employer may terminate the employment contract, useful for employers who do not anticipate breaches of working duties or discipline in their internal enactments.

▪ TERMINATION OF EMPLOYMENT DUE TO LACK OF KNOWLEDGE AND SKILLS The Law introduced procedure of employment termination due to lack of knowledge and skills in line with documents of the International Labour Organisation. The employer is obliged to inform the employee in written on deficiencies noted in his/her work, to provide instructions for improvement and to enable further adequate period for improvement. Only if the employee does not improve during this additional time, he/she may be dismissed. The notice period in this case is 8-30 days.

CONCLUSION The Law introduces significant novelties in the employment regulations, and it is expected to have a far-reaching influence. It provides additional tool for the balance of the fragile relation between the employees, who should be provided with adequate level of protection, and the employers, who expect sustainable and flexible business environment. However, the enactment of this law is only the initial step – its implementation in practice by all social partners will show in the coming period how these changes will be understood and how they will actually benefit the community as a whole.

Authors: Marjan Poljak, Partner (marjan.poljak@karanovic-nikolic.com), Jelena Danilović, Associate(jelena.danilovic@karanovic-nikolic. com), Mirko Kovač, Associate (mirko.kovac@ karanovic-nikolic.com)

cordeditorial@cma.rs |

118 August 2014 | 29

LOCAL NEWS

Business Dialogue 01

People

BUSINESS MONITOR INTERNATIONAL (BMI)

“The people should realise that changes must hurt now so they will not hurt even more in the future.”

— Kori Udovički, Serbian Deputy Prime Minister

02

Serbia Retail Report Q3 2014

Serbian Agriculture (Almost) Ready for Investment

The retail market in Serbia continues to struggle in the short term, although medium term growth reveals opportunity for later investment The country comes second to last out of 11 countries in BMI‘s Central and Eastern Europe Retail Risk/Reward Ratings, highlighting its weak performance relative to its peers. Although Serbia is not a member of the EU, its continuing efforts to join and close trade ties with member nations help bring long-term growth prospects to the nation. BMI forecasts a decline in retail spending of 1.88% in 2014, with strong growth not beginning until 2017. The modest long-term growth prospects create opportunity for investment, however, currency fluctuations and political uncertainty and ongoing unemployment create risk The short term growth prospects for Serbia remain very weak with BMI forecasting a decline in total retail spending of 1.88% in 2014 and 0.76% in 2015. Modest growth is forecasted to pick up in 2016 where BMI forecasts 1.84% growth and stronger growth rates of 6.6% and 7.0% are forecasted for 2017 and 2018. Despite this medium term growth, BMI forecasts that the total increase in GDP will be 24.3% and GDP will increase from USD43bn in 2014 to USD54bn in 2018, while retail spending will increase much less with BMI forecasting a total increase in retail spending of 15%.

03

The Serbian government is working to promote agricultural investment in the country as it is set to join the World Trade Organization (WTO) this year Serbian agricultural production totalled about $5.3 billion in 2013, with approximately $2 billion from exports, according to press reports, and it is estimated that these figures could climb to exceed $13.5 billion by 2020.

Investors have been reluctant to invest in the country because successive governments have been repeatedly changing national policy upon election, and because of difficulty in accessing credit.

Currently the government is working on a long-term, ten-year agricultural strategy, but imple-

04

RAILWAY

Russian Railways RZZD Hires two Serbian Companies Company Russian Railways RZZD International has hired two more Serbian companies, Novi Sad-based Energotehnika-Južna Bačka and ATM from Belgrade, within the project aimed at modernisation of the Serbian railway system.

Representatives of the Russian company signed a contract in mid-July with its Serbian subcontractors for a total value of $4.5 million.

The subcontracted local consortium comprises Energotehnika-Južna Bačka and ATM, RZZD International released.

The contract covers the delivery of materials, equipment and performance of construction works on the contact network and electric energy plants on the Pančevo bridge-Pančevo main station section.

The modernisation of the railway infrastructure in Serbia is funded by a Russian loan worth $800 million and will make room for the considerable increase of the capacities of the Serbian railway system.

Source: Tanjug 30 |

AGRICULTURE

mentation could prove to be a problem, according to outsiders. The government is trying to attract agricultural investment though tax policy and incentives, and foreign investors that form partnerships with Serbian entities making products that are made with at least 51 per cent Serbian content.

The potential success of longterm Serbian intentions have already resulted in attention of companies from France and United Arab Emirates.

Source: Christian Science Monitor

TETRA PAK

WorldStar Award Tetra Brik Aseptic 1000 Edge carton package has won a 2014 WorldStar Award in a competition of 249 entries from 35 countries, the municipality of Gornji Milanovac said in a statement released in late July.

The product by Tetra Pak, a leading food processing and packaging solutions company, was commended by World Star’s panel of 25 industry experts for delivering superior ease of handling, pouring, opening and reclosing for consumers. Other major benefits of the package cited by the awards panel include the environmental credentials, graphic design potential and the ingenuity of construction.

The award was presented to Tetra Pak representatives during the 2014 edition of the world’s leading trade fair for packaging and processing equipment and machinery, the Interpack exhibition, which has been taking place in Dusseldorf since 1958.

Source: Tanjug

05

TOURISM

Kopaonik Sets New Records in Summer Season The popular tourist centre Kopaonik is not just a winter destination, as testified by the fact that last weekend more than 2,000 rides have been made on the activities offered by the “Serbian Ski Company” on that mountain. Namely, over two days more than 700 rides were realised on the adrenaline activities, i.e. bob sled on rails, zip line and tubing track, while the rest was made at the

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panoramic ski lift rides, mountain biking and mountain cart. This is the second season that sees the Kopaonik centre working yearround and a new record was set on the weekend of 14th July.

Source: Radio Serbia

Constitution

06

ENERGY

“The Constitution does not guarantee profit for companies, but it does guarantee the rights of the employees, and the government cannot avoid all responsibility for those rights not being respected.”— Saša Janković, Ombudsman

Placements & Postings

NIS First-Half Profits Fall Serbian oil company NIS reported a 5 per cent fall in first-half net profits due to higher taxes and will have to cut spending on projects in the second half of the year

APPOINTMENTS@AIM.RS

KIRILL KRAVCHENKO, CEO, NIS

NIS reported core earnings of 30.9 billion dinars ($356.50 million), in the first half of the year, 10 per cent higher than in the same period last year. but net profit fell to 17.8 billion dinars due to a rise in taxes at the beginning of the year.

The higher taxes and unexpected outlays to recover property hit by devastating floods in May led to a 26-per cent cut in investment to 17.8 billion dinars in the first six months, NIS said. The company’s debt rose by 60 per cent to $672 million in the same period.

“We expect the next half of the year to be even more difficult,” CEO Kirill Kravchenko said in a statement.

He said the company would have to cut investment in capital projects in the second half of the year due to the failure of state-owned companies to pay their debts to NIS, which in the first six months stood at 56 billion dinars ($646.17 million).

NIS runs two refineries in Serbia and produces 1.7 million tonnes of oil equivalent (mtoe) of oil and gas a year, operating fields in Serbia, Angola and Bosnia.

Source: Reuters

MAKOTO OCHIAI New Director of the Japan Tobacco International (JTI) factory in Senta

MARIJANA RADOVANOVIĆ New Executive Director, Serbian Privatisation Agency

Makoto Ochiai brings more than two decades of rich experience in the tobacco industry and quality control.

Ochiai succeeds Danilo Stojanović as the director of the factory, with his predecessor now running the company’s global training centre in Torbali, Turkey.

Ochiai joined Japan Tobacco in 1991, when he became part of the production team of the factory located in the Kanto region of Japan. Since then he has held a number of positions with increasing responsibility within the JT company, in the sectors of planning, quality and production, including managing the coordination of technical support at JTI. He also played an important role in the acquisition of RJR International, when company Japan Tobacco International was founded.

In 2009 Ochiai transferred to the department for quality control of the global supply chain at JTI’s headquarters in Geneva.

Marijana Radovanović (38) is a graduate of the University of Belgrade’s Faculty of Economics who has 15 years of practical experience, more than 10 years of which have been held in responsible management positions. Her professional career started in 2000 at Deloitte & Touche Central and Eastern Europe, in the Audit Department.

She was engaged at the Privatisation Agency of the Republic of Serbia in activities to prepare and implement privatisation (2001-2003).

After five years as project manager at the Institute of Economics (2003-2008), Radovanović continued her professional career in the same position at the Privatisation Agency. She was appointed Deputy Director of the Privatisation Centre (2010), then Privatisation Centre Director (2011-2013) and now Executive Director of the Privatisation Agency.

In addition to her native Serbian, Ms. Radovanović also speaks English and Spanish fluently.

07

“DELTA”

New Distribution Centre in Stara Pazova MIROSLAV MIŠKOVIĆ, President of Delta Holding, (left) and Đorđe Radinović, president of Stara Pazova Municipality

Company Delta Holding recently launched construction of a distribution centre for food and consumer goods in Stara Pazova, valued at €10.2 million

The operations centre will be finished by the end of January 2015 and will employ 400 young people. Over 15,000 consumers across Serbia, together with chain stores “Delhaize” and “Idea”, will be supplied with goods from this distribution centre.

The centre is being built on a 10-hectare plot and will occupy 20,000 square metres in the first stage. There is a possibility for the second stage of construction to be commenced in 2015, with an additional 14,500 square metres of storage.

The new distribution centre, an investment of Delta Realestate, will be a part of the Delta Transport system, which deals with logistics and transport services.

This centre in Stara Pazova will have 26,000 pallet places and 30 loading ramps, according to Stara Pazova Municipality’s official website. cordeditorial@cma.rs |

118 August 2014 | 31

Business Dialogue INTERVIEW

RICK JACKSON, V.P. OF THE GLOBAL CIS POGRAMME DHL

Innovation - the Key to Success

- The programme emerged from the rapid growth of the company that at one time had led to DHL Express losing in focus and engaging in too many different business segments around the world, which was a major challenge, especially the company’s attempts to compete with other logistics companies on the domestic U.S. market. Despite a major acquisition, we experienced significant losses in our business on the U.S. market, which is why we decided to refocus our resources on international express delivery.

This was also the moment when the need was created for a universal corporate platform that could be applied in the same way in all 220 countries where DHL is present and could encompass all 100,000 employees. Since then, the mission of our company has been for all those people to become “certified international specialists,” for everybody to understand their role within DHL’s worldwide network, the ways in which they can contribute to the success of the business and the overall success of the company. This saw the launch of the first segment of the CIS programme, which aimed to equip employees anywhere in the worldwith the same knowledge and experience on international shipping that would help them in their work.

■ The CIS programme is based on advancing the “art of management” and the perception of employees as potential clients. What is the methodology and how will this programme keep pace with internal changes in the company in the coming years?

“Only a motivated employee fully understands the needs - What makes our programme different from the usual HR employee training programmes is that we have not relied on an of clients and contributes to the development of the external agency, but rather from the very start, the company’s company,” this is the most important message from the management was involved in the design and delivery of the Certified International Specialists (CIS) programme, an training. The programme is interactive, consisting of a variety of materials in audio and video format, print media and group innovative platform for training DHL Express employees activities. Basic training lasts a day and a half and at the end employees receive their own DHL passport, which not only repince 2010, more than 100,000 employees in 220 counresents their personal identity within DHL, but is also the docutries around the world have been through the Certified ment that accompanies their progression within the company.

International Specialists training programme, an initiaThe initial Foundation training programme was attended tive which is changing the business culture of DHL as the by 1200 top managers, who completed the first training according to the “train the trainer” principle and received their leading company in international express transportation. The DHL passports. They are responsible for further implementachange is also evident in the figures, considering that DHL tion, with their primary task berealised profits of over one billion What makes our programme different ing to deliver the key messages euros in 2013, compared to a loss of almost €800 million in 2009. from the usual HR employee training of the programme to every other We spoke with Rick Jackson, programmes is that we have not relied individual in the workforce. After the CIS Foundation Programme, V.P.of the global CIS programme, on an external agency, but rather we are currently developing about the beginnings and the potenfrom the very start the company’s tial of this concept and further develour CIM (Certified International management was involved in the opment of staff training platforms.

Manager) programme, which represents leadership training and is design and delivery of the training intended for all levels of manage■ The CIS Programme, awarded ment. Since 2013 we have trained 11000 leaders, and we also from the UK to Hong Kong, has been recognised in HR conducted that training late last year with the managers of management as a new trend in corporate training. How DHL Express in Serbia. Moreover, the training will follow the did the concept emerge?

S

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development of both the company and the needs of employees.

We are currently working on individual educational plans that would develop specific roles, knowledge and skills required for employees to develop their personal careers, whether they are working in sales, aviation, IT or HR.

■ In which way do you measure the impact of the CIS programme; how can you be sure that the message is properly transmitted from manager trainers to employees?

- Employee Engagement is something that general management often overlooks, believing it to be in the domain of the HR department. Additionally, the very concept of engagement is difficult to define, and thereby measure and monitor in terms of development. Broadly speaking, a motivated employee is one who is engaged, proactive and satisfied with their role in the overall company, because they understand their role and seek to improve their way of working and achieving results. That’s why it was important for us to approach employees through this training as customers, always carefully monitoring their needs.

We also tracked impact via the company’s annual Employee Opinion Survey, which consists of eleven segments – amongst others, strategy, motivation, development. We had agreed that up to a three per cent improvement per year in each category would be excellent progress on an annual basis, and it turns out that we surpassed expectations because there has been a shift of up to 15 per cent in strategy, 11 per cent in employee engagement, active leadership and learning and development.

gic projects of the company, which is based on the idea of the “service-profit chain”, consisting of motivated employees – high quality services – satisfied and loyal customers - a profitable business network - further investments in employees and, finally, the growth of the company. The greatest contribution of this programme has been in fundamentally changing the corporate culture of DHL Express and that’s why we don’t think of the CIS programme as just a training for employees. One of the aims of “Strategy 2015” was to empower staff to achieve their full potential. The main aim of “Strategy 2020” is not just for us to be number one in the field of logistics, but also to become the company that defines the transport industry. When it comes to the future delivery of the CIS programme, then by 2020, we expect 80 per

■ What is the main factor that ensures DHL emThe greatest contribution of the CIS programme has ployees feel a sense of pride in being part of this been in fundamentally changing the corporate culture huge business and logistical network? of DHL Express and that’s why we don’t think of the - I think it’s very important to have empathy and understanding for people, because we all actually work CIS programme as just training for employees towards similar goals. We all need to be evaluated cent of the employees in all divisions of the Deutsche Post DHL on the basis of what we’ve done, to have a purpose and enjoy the group to have gone through various levels and modules of CIS, in work we do. Without that, there is no motivation of staff or quality of services and, in the end, no profit. If we already spend an order to create the perfect interface between our service offering average of eight hours a day at work, then it is necessary to inand the needs of our customers. troduce a people focus to the business environment so that every individual can develop both personally and professionally. I think ■ What business challenges await DHL in the future? the employees recognised that idea of ours and that is why they - The main driving force behind the global economy today is the are keen to do their job, because they know it will be noticed and potential of information technology to transform the way we live rewarded. In short, it is because at our company every employee and work. DHL has conducted a study, “Global E-tailing 2025”, is treated as a person whose opinion is important. which envisaged how internet sales will change consumer behaviour and how they will affect the further development of the logis■ This year, DHL has announced a new global strategy, “Strat- tics sector. Our company will continue to monitor how the business egy 2020: Focus. Connection. Growth”, which represents a environment changes as a result of the rapid development of technologies, globalisation, greater diversity of products and services, continuation of the successful “Strategy 2015”. What is the and major changes in the working habits of employees. Alongside total contribution of the CIS programme to the development this, the focus of CIS will remain primarily on helping our people of the company? adapt to succeed in tomorrow’s business environment. ■ - The CIS programme represents a bridge between all stratecordeditorial@cma.rs |

118 August 2014 | 33

REGIONAL NEWS

Strategy

Business Dialogue 01

“We want to keep in our hands the infrastructure of strategic companies, but everything else can go. Slovenia must become more open towards foreign investors” — Miro Cerar, Slovenia’s likely new prime minister

02

CROATIA

Onshore and Offshore Oil and Gas Tenders

Macedonia Plans to Set up "Tax Haven"

Economy Minister Ivan Vrdoljak opened the first public tender for exploration and exploitation at six sites comprising a total of 15,000 square kilometres along the Drava and Sava rivers in the east of Croatia

IVAN VRDOLJAK Croatian Economy Minister

“The tender will be open until mid-February 2015, the first concession contracts will be signed before 15th June 2015 and we expect that in the second half of 2015 new industrial investments, new drill holes and workplaces will be introduced,” Vrdoljak said at the launch in Osijek.

Croatia is also holding an international tender for offshore exploration in the Adriatic Sea, which is open until early November.

Barbara Dorić, president of the Croatian Hydrocarbon Agency, said that results could be expected much sooner than those from the offshore tenders, because there has already been production work in the region for 40 years.

“The key criteria in the evaluation of bids will be the investments; in other words, planned drill holes, because exploratory drill holes are crucial for proving what reserves are there,” Dorić said.

03

Government plans to establish a tax haven that will encourage wealthy corporations to move their operations to Macedonia Financial experts have broadly welcomed plans by Prime Minister Nikola Gruevski to set up tax havens on the ground that they will boost employment in the financial and legal sectors.

The plan took a step towards realisation after parliament gave a green light to a package of constitutional changes that mid July, among other things, allows for the opening of such zones.

Others, however, warn against turning the country into a desti-

04

BULGARIA

Licence of Commercial Bank Revoked Bulgarian National Bank (BNB) announced that it would revoke the license of the Corporate Commercial Bank, Bulgaria’s fourth largest bank Amid concerns that the banking system was under attack in an attempt to destabilise the country, a run on deposits at Corporate Commercial Bank, KTB, prompted the National Bank to seize control and freeze its operations.

Initially, BNB intended to help KTB recuperate to avoid a deeper financial crisis. In an announcement posted on its website, however, the national bank said the results of its audit had revealed evidence of “actions that are incompatible with the law and good banking practices”.

According to the public broadcaster BNR, the central bank’s governor, Ivan Iskrov, said about €1.75 billion seemed to be missing from KTB. All citizens’ and company assets will be transferred to Credit Agricole Bulgaria once it is nationalized. Only the assets of major shareholder Tsvetan Vasilev and affiliated companies will be left in the bank, the news site Novinite reported.

The results of the audit will be referred to Bulgaria’s chief prosecutor. The BNB has stated that it will use all means at its disposal to guarantee peoples’ savings.

Source: Novinite 34 |

FYR MACEDONIA

118 August 2014 | www.cordmagazine.com

nation for illegal capital that may damage the country’s reputation.

Prime Minister Gruevski insisted the plan will not attract criminal money, but will boost employment.

“We aim to open an international financial zone on an area of 10 to 20 hectares where we will copy the financial laws from countries such as the United States, Britain or Germany, which will additionally boost its credibility,” he said.

The government plans to give more details by mid-October.

REPUBLIC OF SRPSKA

Public call for concession of MHPP "Gornje Pale The concession will be awarded for construction and use of MHPP “Gornje Pale” on the Bistrica River, left tributary to the Miljacka river, in the municipality of Pale. The location of the small hydropower plant is about one kilometer below the village of Bistrica.

MHPP “Gornje Pale” is of estimated installed capacity of 1.66 MW and estimated annual production of 5.3 GWh. The tyrolean small hydroelectric water intake is below the village of Bistrica, at 1.176 m above sea level. From the location of the water intake the water is supplied to the powerhouse through a 3.453 m pipeline.

The concession is granted for a period of up to 30 years from the date of signing the concession agreement, the investment value is 4.850.000,00 KM (€2.474.400).

All domestic and foreign legal entities that meet the requirements of the tender documents and the invitation are eligible to apply, according to the invitation.

05

ROMANIA

New Oil Reserves Along the Black Sea Coast OMV Petrom, a company controlled by the Austrian group OMV, announced that it had discovered new reserves of oil in shallow waters off the Romanian coast of the Black Sea, but production could not start sooner than three to four years, a media statement by the company said.

The discovery of the new oil reserves was made in the Istria perimeter, about 60km

from the shore and 2.1km under the sea bed.

The water in that sector is 50 metres deep.

If the reserves prove profitable, production could start in three to four years, with the overall production costs rising to more than 100 million euro, the statement said.

Source: sofiaglobe.com

Policy

06

KOSOVO

“It is our clear foreign policy determination to cherish and improve relations with our neighbours. I believe that good neighbourly relations are an essential element of the Western Balkans stabilisation and association process .”

— Igor Lukšić, Deputy Prime Minister of Montenegro

07

Bechtel and Enka Win Highway Contract Bechtel and its joint-venture partner Enka have won a contract to build a 60km highway connecting Kosovo’s capital Pristina with neighbouring Macedonia

Unfinished Highways Offered to Private Sector ANDREW PATTERSON (left), Bechtel’s sector manager and FEMHI MUJOTA, Kosovo Minister of infrastructure

The new Route 6 highway will help improve Kosovo’s transport links, a highly important factor for the future economic. Bechtel-Enka previously constructed Kosovo’s Route 7 highway, which was completed in November 2013, a whole year ahead of schedule. The Route 7 highway runs from Morina on the Albanian border through to Pristina and provides a direct connection through to Albania’s capital Tirana, as well as one of Albania’s major sea ports. This route considerably cuts the journey time over the existing road, which was unable to cope with the traffic demand, as it is a narrow and twisting roadway with mountain sections that are dangerous in the winter.

Work on the Route 6 is now commencing and will take four years to complete. As Bechtel-Enka employed a large number of locals on the Route 7 project, the workforce for the new construction project is already available. In all the route calls for the construction of eight major bridges, with one measuring 870m and this will be the longest bridge in Kosovo once it is complete.

There will also be 29 overpasses and 17 underpasses, as well as five major interchanges, two service area and one maintenance area.

08

ALBANIA

SLOVENIA

Kanin Ski Resort Auction Fails

An auction for the bankruptcy estate of ski centre operator ATC Kanin ended unsuccessfully recently when the only bidder, Russia’s Ilev Inženiring, found the lowest price that could still be offered by receiver Nataša Gibičar, €1.14m, too high.

Gibičar explained that she needs a new court order to lower the price further.

The ski centre has never been fully completed and has been in financial trouble ever since it was opened 40 years ago.

It is estimated that around €10 million would be needed to renovate the centre sufficiently to make it fully operational.

ATC Kanin took a big hit in the 2012/2013 season when two empty cable cars plunged to the ground in an accident that was blamed on gale-force winds.

09

Albania’s Minister for the Economy, Arben Ahmetaj, told a parliamentary commission mid July that the country could no longer afford to pay for new motorways on its own and would turn to the private sector for investment.

Ahmetaj told the parliamentary commission that the government had decided to set up private-public partnerships to complete a number of highways that it could not finance itself.

The previous centre-right government launched a number of large-scale infrastructure projects designed to improve the road network over the past eight years.

However, owing to budget shortfalls, many of these roads

10

MONTENEGRO

Further Investments in Agriculture

The EU Delegation in Podgorica and the World Bank signed an agreement allowing Montenegro to use €3.2 million for further investments in agriculture, in order to betPETAR IVANOVIĆ, Ministry of Agriculture ter prepare agricultural producers for the use of the IPARD pre-accession support programme, scheduled for early 2016.

The funds were available to Montenegro through the IPARD programme for 2011 and 2012, but they were lost due to a lack of any progress in establishing the Directorate for Payments in Agriculture. However, Petar Ivanović, Minister of Agriculture, made significant progress in this area during 2013, which created conditions for the European Commission to allow Montenegro to transfer the total amount of €10 million from the IPA V to IPA I component.

Allocation of the funds to agricultural producers will begin in early autumn through the publication of a public call for the allocation of grant support for investments in agricultural holdings, amounting to 50% of the investment.

Conditions will be more demanding compared to MIDAS projects, but also simpler than those that will exist when applying for the IPARD funds.

Source: Balkans News

ARBEN AHMETAJ Albanian Minister for the Economy

have been left unfinished while allegations of corruption and cost overruns have dogged further construction.

A loose fiscal policy, the depreciation of the national currency, the lek, and the accumulation of $670 million in arrears to contractors, have taken Albania’s public debt well above the ceiling of 60 per cent of GDP. According to the World Bank, if the government does not undertake immediate structural reforms, Albania’s public debt-toGDP ratio will reach 73.5 per cent in 2015 and stay above 72 per cent over the medium term.

HUNGARY

Unemployment Rate Decreases to 8%

The Central Hungarian Statistical Office (KSH) released a statement that in the period between March and May 2014 the unemployment rate dropped by 2.5%, to a total of 8%.

Compared to the same period in 2013, this year 195,000 more people have a job. The unemployment rate has decreased in all demographic groups.

The unemployment rate between the age group 24-54 decreased by 2.3% to 7.3%, and a similar fall, of 1.9%, was recorded for the 55-64 age group, bringing the overall rate down to 6.3%.

There has also been a significant decrease in unemployment among people aged 15–24 years, as the rate is now 19.4%, 4% less than a year ago.

cordeditorial@cma.rs |

118 August 2014 | 35

Business Dialogue CORPORATE

LEMIĆ GROUP LTD.

References From Over 400 Projects Company Lemić Group d.o.o. (Ltd.) last year celebrated twenty years of successful operations on the Serbian and Russian markets, as well as the markets of our region Here we would like to note that the works conducted in Russia are subject to different construction standards in relation to domestic norms, but our company has successfully met these standards, eing constructive means striving for which could be defined as representing success, and construction industry more stringent building regulations. is an area where constructiveness is Moreover, we fully comply with the very obvious. demands placed upon us when it comes to Our company endeavours to show this completely different weather conditions feature in many fields, in design, manufacture than we are used to at home, which is a and installation of the following products: very important factor in doing a job well.

- All types of aluminium glazed façade We have reached such level of training and structures: semi-structural, strucmechanisation that we can work in clitural, continuous mates with very harsh weather conditions, - PVC, aluminium and aluminiumsuch as, for example, winter in Siberia. wood windows Testifying to the quality of our work is - Fire-proof and smoke-proof doors the fact that we are entrusted with facili- Ventilated façades of aluminium ties of special interest, such as embassies, composite panels, all types of stone, airports, banking administration buildings ceramics, granite tiles, HPL etc., where it is necessary to respect Today our company employs over specific working conditions and spepanel type - Steel construction frames and 200 people, led by a team of highly cific requirements, both in terms of structures construction and security. skilled design engineers - Inox elements Our reference list includes over - Façade panelling, roof panelling this method a colour and pattern identical 400 completed construction projects of - Steel and aluminium sheet elements: to wood is achieved on aluminium profiles. various sizes and purposes: large business trimmings, loft caps, gutters, gables, The pattern has rings like a tree that can complexes, hotels, shopping centres, car bays, various flashing, “L” strips etc. even be felt under the fingers. showrooms, residential zones, public faFor the production of these eleOur group also encompasses a departcilities, spa complexes and sports centres ments we use the latest equipment, while ment for freight transport.

– more information about which can be through constant technical training we On the market of the Russian Federafound on our website: www.lemic.biz keep pace with all innovations in the systion, with our Moscow representative office, For many years we are certified by tems that profiles’ manufacturers launch we have achieved a significant presence and Swiss company SGS with ISO 9001 Certifiand investors demand. are currently working on several buildings cate. Our company also has awareness for The founder and president of our comin Moscow and the Moscow district, Saint the needs of corporate social responsibilpany considers good operations to be an Petersburg and Siberia’s Tyumen. ity and concern for the future. That’s why important prerequisite of success, so we The volume of our works at these every year we run various sponsorship are constantly improving and monitoring facilities exceeds 100,000m² of various and charity projects, thereby giving back a innovations, ensuring that expenses are façade types. little of what the community gives us . ■

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not spared when it comes to acquiring new equipment and carrying out staff training.

Reliability and quality represent an imperative in business practice. Guided by these principles and market economy criteria, the company develops and trains for increasingly complex production requirements and increasingly complex market challenges.

By purchasing two companies for anodizing and powder coating of aluminium profiles, we have expanded our activities, thus forming technologicaly complete business system – group, which today employs over 200 people, led by a team of highly skilled design engineers. We are striving to improve this segment and introduce the highest levels by using the latest technology, and we are now the only company in Serbia that can do powder coating that achieves the authentic look of wood: with

118 August 2014 | www.cordmagazine.com

OPPINION

■ By Francisco de BORJA LASHERAS

'Twitter Diplomacy' Leaders prioritise instant success and the ‘mission accomplished’ model over real progress tween Serbia and Kosovo, whose potential could wither if political will declines and if Kosovo fails to board the European train with Serbia.

Enlargement, which was once successful, now threatens to attract symbolic failures such as Bosnia and to become one more factor in internal EU n these short-ter­mist times, unlike divisions. A lot of issues play a part in our mobiles and com­put­ers, we have this: the dilemma of enlargement verneither the memory nor the necessus cohesion, the continuing doubts sary perspective to properly address about the real level of Europeanisation the challenges of the day. Modern forof candidate states, and the strideneign policy is dominated by short-term cy of Europhobic Europe, currently atthinking. It is concerned with managing tacking European pillars such as freediaries, summits, and international egos. dom of movement.

It does not pay enough atten­tion to reBefore being elected president solving conflict or to the awkward diploof the European Commission, Jeanmatic ‘dossiers’ that require more hard Claude Juncker announced that a diplo­macy, political will, and patience brake would be put on enlargement than virtually any Western lead­er is Now, we have moved on to if parliaments such as that of the today prepared to risk.

‘Twitter diplomacy’: dealing in Netherlands vote for a halt. This negOur leaders prioritise instant success and the ‘mission accom144 characters with problems ative cacophony weakens Europe’s plished’ model over real progress, that have been entrenched for transformative power not only in the Balkans but also in Ukraine and in as witnessed by the withdrawgenerations East­ern Europe as a whole. al from Afghanistan. The ‘CNN efEurope is at a cross­roads, both at fect’ of the 1990s mobilised internahome and in its neighbourhood. The solitical system. Just as it sank under the tional opinion by bringing the suffering lution must be neither a withdrawal nor floods of May, Bosnia continues to sink of the besieged in Sarajevo directly into the Pyrrhic victories of ‘Twit­ter diplomaas a state. It is back on the agenda of our homes. Now, we have moved on to cy’. An entirely new internal and exterEurope’s foreign ministers - even if only ‘Twitter diplomacy’: dealing in 144 charnal agenda is needed. Otherwise, we are for the duration of a working lunch. acters with problems that have been enheading towards a Europe that is fragIn the Balkans, there are three partrenched for generations. mented, unattractive, weak and, what is allel worlds. The European one keeps to These short termist times, along more, surrounded by black holes in the the rhythm of the EU agenda. The daywith the political opportunism that aceast and the south: areas of insecurity to-day world of Balkan citizens concompanies them, make it harder to adand instability that confirm the failure of sists of weak democratic governance, dress long term problems, such as deour policies. ■ economic crisis, nationalism, and the mocratisation and transformation of absence of opportunity for large segsocieties. Some Europeans, confusing ments of the population. And at times, neighbourhood policy with enlargeThe author is Asso­ci­ate Direct­or and Pol­i­cy Fel­ the realm of big diplomacy is also prement policy, made vague promises of low of the Euro­pe­an Coun­cil on For­eign Rela­ sent, for example in the agreement bea European perspective for Ukraine. As tions Mad­rid Office.

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things are today, the European Union cannot keep t h o s e promises.

Beyond geopolitics, Ukraine shows us that the next crisis for EU foreign policy will be enlargement as well as being the next challenge for the EU’s internal cohesion.

Closer to home than Kiev, at around the same time as the events on the Maidan, protests in forgotten Bosnia led to the burning of public buildings and popular assemblies were organised to demand changes to an exhausted po-

cordeditorial@cma.rs |

118 August 2014 | 37

WORLD NEWS

Business Dialogue 01

JAPAN

Soccer “Soccer doesn’t mix with politics. We’ll be discussing this defeat in Brazil for a long time to come. It would have been more serious if we had lost outside the stadium than within it.”

— Dilma Rousseff, President of Brazil

02

SMBC Aviation Capital orders 115 Airbus jets

World Cup Hit Brazil’s Economy Hard

SMBC Aviation Capital, the PETER BARRETT Japanese aircraft leasing CEO of SMBC Aviation Capital company, has signed an order for 115 single-aisle A320 Airbus planes costing €8.6 billion at list prices.

“This new order is the industry’s largest ever single firm order by a worldwide leasing company for single-aisle aircraft,” SMBC said in an announcement made at the Farnborough airshow near London.

SMBC will take 110 A320neo planes and five A320ceo.

“This is a landmark order for SMBC Aviation Capital and indeed for the wider aircraft leasing industry, and I am delighted to be continuing the close and long-standing relationship that our business enjoys with Airbus,” said SMBC chief executive Peter Barrett.

“The A320 family has played a crucial role in SMBC Aviation Capital’s success to date, and this order should be taken as a clear sign both of our commitment to the new generation of single-aisle aircraft as well as our ambitious plans to grow our business,” said SMBC chief executive Peter Barrett.

03

Early indicators of Brazil’s economic performance during the World Cup period are starting to trickle in, and they aren’t pretty.

While the month-long tournament drew a million foreign tourists to Brazil–far exceeding official expectations–economists say its impact on other sectors of the economy was decidedly negative. Some World Cup host cities declared municipal holidays on days when matches were played in local stadiums, while untold legions of workers played hooky to watch the Brazilian national team’s seven games.

Brazil’s National Confederation of Industry (CNI), reported that its lead-

04

USA

Forbes Sold Majority Stake STEVE FORBES, Chairman and Editor-in-Chief

Forbes Media LLC announced an agreement under which a group of international investors will purchase a majority stake in the company. The Forbes family will retain a significant ownership stake, will stay actively involved in Forbes Media and will work with the investor group to further increase market share of the existing Forbes Media product lines in media, digital, technology, as well as brand extensions. Upon closing, Elevation Partners will fully exit its investment in Forbes Media. The terms of the transaction were not disclosed.

The newly formed Hong Kong-based investor group Integrated Whale Media Investments (“IWM”) is composed of international investors. The group is led by Integrated Asset Management (Asia) Limited (“IAM”). IAM, which was founded by Tak Cheung Yam, is a Hong Kong-based investment company primarily engaged in public and private equity investments, with expertise in telecommunications, finance and technology. Another significant investor in IWM, Wayne Hsieh is the Co-Founder of ASUSTeK Computer Inc., one of the world’s leading PC vendors and the No.1 motherboard manufacturer in the world.

Forbes Media LLC will retain its operating name and will remain a privately-held, independent company headquartered in the U.S. Steve Forbes will maintain his role as Chairman and Editor-in-Chief, and current President and CEO Mike Perlis will continue to lead the company’s management team.

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BRAZIL

118 August 2014 | www.cordmagazine.com

ing indicator of industrial production fell to the lowest level since 2010, when the survey began. The Brazilian Steel Institute said that crude steel production fell 4.9% in June from a year earlier. But some of the worst signs came from Brazil’s auto sector.

Vehicle production plunged 33% in June to 215,934 units, auto association Anfavea says.

On the other side the government in Brasilia has said the event created one million jobs and pumped nearly $14 billion into the national economy–including “initial, direct, indirect and induced impacts.”

ITALY

Fiat Changes Name and Headquarters Location The Italian car giant Fiat has announced a change of the company’s name after completing the purchase of the US automaker Chrysler.

Fiat had completed the purchase of Chrysler earlier this month in a €3.2 billion transaction to create the world’s seventh-biggest auto group. The group announced that the company would be listed in New York and Milan, with stockholders receiving one FCA common share for each Fiat share they held.

It also announced that it would move its headquarters to the Netherlands in what was seen by market experts as a shrewd maneuver to sidestep the thorny political issue of whether the true base would be in Italy or the US. Fiat Chrysler Automobiles would take up tax residence in the UK, though, the company announced.

05

NORWAY

World's First Cash-Free Society?

Cash only makes up four per cent of consumer spending in Norway. This makes it possible for Norway to potentially become the world’s first society without cash, says Finance Norway.

“Handling cash costs society more than double what electronic payments do, and without cash we would also reduce the problems related to robbery, economic crime and illegal money,” says Jan Diagranes in Finance Norway.

Cash makes up five per cent of payments in Norwegian society and only four per cent of household spending. Only Sweden and the U.K. have a lower percentage of cash spending.

Secularism

06

FRANCE

"Secularism is not only in our constitution but also in our veins. We worship Mother Nature too. We believe that the world is our family." — Narendra Modi, Indian Prime Minister

07

Airbus Lags Behind Boeing The European aircraft manufacturer Airbus was behind its U.S. rival Boeing in net sales recorded during the first half of the year, despite selling more than 200 aircraft in the unexpectedly busy month of June.

Company data released mid July showed Airbus posting 515 orders between January and June, or 290 when adjusted for cancellations.

Boeing on reported 181 deliveries in the second-quarter, bringing its total for the year to 342.

In terms of deliveries, Airbus is also behind its rival with 303 aircraft delivered to client companies against 342 for Boeing.

The Toulouse-based company Airbus included the cancellation of 70 wide-body A350 jets by Dubai’s Emirates, which had been announced earlier in June.

Source: Reuters

08

TURKMENISTAN

Discussing New Gas Pipeline with France An official delegation from Turkmenistan visited France last month to discuss economic ties, notably the construction of a pipeline to transport gas from the central Asian country to Europe.

The former Soviet republic has limited contact with the rest of the world and has been criticised by Amnesty International for its human rights record, but France, like China and some Western countries, is interested in its reserves of natural gas, the fifth-largest in the world.

The visit is to boost economic and trade ties, a Turkmen source told the AFP news agency, and both countries are interested in the construction of a pipeline under the Caspian Sea to transport gas to Europe.

Several French companies, including construction firms Bouygues and Vinci, and hotelier Accor have already won contracts in Source: RFI Turkmenistan.

09

CHINA

Alibaba Discloses Blackmail Attempt Alibaba Group Holding Ltd, the Chinese e-commerce titan gearing up for a mammoth U.S. initial public offering, has reported a blackmail attempt by a media organization to police, the company said on its official microblog end last month.

Alibaba said that the media organization sought $300,000 to suppress a negative report about the company. Alibaba said the matter had been reported to police in Hangzhou, where the firm is based.

Alibaba’s listing on the New York Stock Exchange could be one of the biggest initial public offerings ever. The company, founded by Jack Ma, is now looking at a September debut, a source told Reuters.

BRICS

BRICS Create New Development Bank

Heads of state of BRICS, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, Brazilian President Dilma Rousseff, Chinese president Xi Jinping and South African President Jacob Zuma met in Fortaleza MID July.

After some tough rounds of negotiations, BRICS nations (Brazil, Russia, India, China and South Africa) have created not only a new $100 billion Development Bank, but also a $100 billion foreign currency reserves pool.

Shanghai finally won the bid to host the Bank while India will get the presidency of the Bank for the first six years. The Bank will have a rotating chair. The Bank will also have a regional office in Johannesburg, South Africa. All the five countries will have equal shareholding in the BRICS Bank.

The five Finance Ministers will constitute the Bank’s board which will be chaired by Brazil.The Bank will initially be involved in infrastructure projects in the BRICS nations.

The authorized, dedicated and paid in capitals will amount to $100 billion, $50 billion and $10 billion respectively.

The idea of the BRICS Bank was proposed by India during the 2012 Summit in New Delhi.

The Bank will initially be involved in infrastructure projects in the BRICS nations BRICS have long alleged that the IMF and World Bank impose belttightening policies in exchange for loans while giving them little say in deciding terms. Total trade between the countries is $6.14 trillion, or nearly 17 percent of the world’s total. The last decade saw the BRICS combined GDP grow more than 300 per cent, while that of the developed word grew 60 per cent.

Apart from the new development Bank, the group of five leading emerging economies also created a Contingency Reserve Arrangement.

BRICS central banks will keep their resources in their gold and foreign currency reserves.

China will fund $41 billion, Brazil, India and Russia $18 billion each and South Africa with $5 billion. The funds will be provided according to a multiple. China’s multiple is 0.5, which means that if needed, the country will get half of $41 billion. The multiple is 2 for South Africa and 1 for the rest.

BRICS Finance ministers or central banks’ governors will form a governing body to manage the CRA while it will be presided over by the BRICS President.

The BRICS CRA will not be open to outsiders.

Meanwhile, at the Summit in Fortaleza, Russian President Vladimir Putin said BRICS must form an energy alliance.

“We propose the establishment of the Energy Association of BRICS. Under this ‘umbrella’, a Fuel Reserve Bank and BRICS Energy Policy Institute could be set up,” Putin said. cordeditorial@cma.rs |

118 August 2014 | 39

FEATURE SLOVENIA FORCED TO PAY BACK HUNDREDS OF MILLIONS OF EUROS

■ By Jasmina KUZMANOVIC and Boris CERNI

EU Court Puts Slovenia Under Pressure The EU court ruling will force Slovenia to pay back hundreds of millions of euros to depositors in its biggest bank, putting additional strain on the country after it rescued its lenders to avoid an international bailout last year nificant” amount of money to cover the payouts and will have to find additional funds to do so, central bank Vice Governor Stanislava Zadravec Caprirolo told reporters.

The total cost to Slovenia could be “as much as half-a-billion euros,” according to Milivoje Zugic, Zagreb-based lawyer who has defended hundreds of savers from Croatia and Bosnia-Herzegovina.

“The most important thing is that the court recognized that all savers need to be treated the same way as those who had savings in domestic branches of the Slovenian bank, which means that they have the right to be paid out, with interest,” Zugic said by phone.

WIDENING DEFICIT The new government, which election winner Miro Cerar expects to be formed by mid-September, will have to break an election promise by raising taxes or cut pub-

the European Central Bank’s marginal lending rate, the Strasbourg-based court said.

‘PEACEFUL ENJOYMENT’ “Croatian savers alone are claimn a binding ruling, the European ing about €150 million in deposits, withCourt of Human Rights said late last out interest”, Croatian Foreign Minister month that Slovenia has one year to Vesna Pusic said . make deposits available with interWhile the ruling only affects individest to Bosnian, Croatian and other savual savers, it may have “indirect reperers who had as much as €300 million cussions” for another estimated €300 in a predecessor to state-owned Nova million of deposits which some Croatian Ljubljanska Banka d.d. Slovenia cut off savers transferred to the Croatian state the foreign savers’ access to their deposin the 1990s, Pusic said. its when it broke away from the former Slovenia’s Finance Ministry declined to Yugoslavia more than two decades ago. estimate exactly how much the country “Slovenia must make all necessary arwould have to make available to the derangements, including legislative amendpositors, spokeswoman Irena Ferkulj said. ments, within one year,” the court said Slovenia maintains the issue of old in the ruling. It must allow the plaintiffs foreign-currency savings was part of a “and all others in their position to resuccession settlement among countries cover their ‘old’ currency savings under that emerged out of former Yugoslavia. the same conditions as those who had Savings at branches of Ljubljanska such savings in domestic branches of Banka, a predecessor of NLB, were Savings at branches of Slovenian banks.” guaranteed by the federal govSlovenia paid €3.2 billion last year Ljubljanska Banka, a ernment and after the breakup of to rescue its banks and avoid an inpredecessor of NLB, were Yugoslavia were no longer available ternational bailout similar to fellow guaranteed by the federal to savers from outside Slovenia. euro members Greece and Cyprus.

Upholding an earlier verdict, the The move drove the budget deficit government and after the court ruled the deposits were private to 15 per cent of annual output - five breakup of Yugoslavia were no property and depositors were pretimes the EU limit - less than a year longer available to savers from vented from their “peaceful enjoyafter it emerged from its longest-evment.” The court also lowered a simer recession. outside Slovenia ilar verdict involving Yugoslav-era ‘SIGNIFICANT’ AMOUNT lic wages, Matjaz Music, head of economsavers of Serbia’s Investbanka.

The banking rescue also helped fuic research at Hypo Alpe-Adria Bank d.d.

“The verdict is just,” Croatian Prime el a political crisis when outgoing Prime “The ruling is definitely unfavourable Minister Zoran Milanovic told reporters.

Minister Alenka Bratusek’s former for Slovenia,” Music said. “The effect of “Slovenia has an obligation to allow peoPositive Slovenia party ousted her as the ruling for the 2015 and 2016 budgets ple to enjoy their property,” he said. its leader amid opposition to her plan could be as much as 1.5 percent of GDP of For its part, Slovenia will probably be to sell state companies to help shore up additional gap, which we see at about 6 forced to sue Croatia and Bosnia to rethe budget. Her dismissal triggered earpercent for end-2014.” coup as much as €1.3 billion that Croat ly elections, won last month by politThe court said the deposits, which and Bosnian companies owe to LB, newsical newcomer Miro Cerar, who has said have been withheld for more than 20 paper Dnevnik cited Rudi Gabrovec, Slovenia should reconsider the privatizayears, should be subject to a default inSlovenia’s chief negotiator in succession tion plans.

Source: Bloomeg.net terest rate of 3 percentage points above talks, as saying. ■ Slovenia will need to provide a “sig-

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118 August 2014 | www.cordmagazine.com

BANKING

Banks to Provision Earlier on Bad Loans Under New Global Rule Banks must provision for souring loans much earlier under an international rule that will take effect in 2018, a decade after a global financial crisis the accounting reform seeks to stop recurring Banks will have to use far more judgement on the likelihood of losses, which is typically tied to the business cycle.

“Where this really comes into play is where you at the start of economic decline, which is where the current incurred loss model would be slow to respond but the new expected loss one would be quicker to react,” said Andrew Spooner, lead financial instruments partner at Deloitte.

NEW RULES he collapse of Lehman Bros in 2008 highlighted how little The new rule also scraps the ability of banks who use IASB accounting standards to book a profit on their bonds if they fall in valcapital banks held to cover a slump in the value of the assets ue, reflecting a counterintuitive rationale that they could be bought on their books, forcing the public to bail out many lenders. back more cheaply than previously.

Amid a welter of regulatory reforms following the crisis, the Although the new rules won’t formally come in until January Group of 20 leading economies (G20) called for a single global accounting rule that would force lenders to make provisions for sour2018, regulators and investors may put pressure on lenders to move ing loans much sooner after a loan is made, so banks have time to early to allay compliance concerns, Spooner said. plug any capital gaps.

Since the financial crisis, bank supervisors already force lenders to make provisions above the level required under accounting The downside is that bank results will become more volatile, standards and Spooner expects this pressure to top up provisioning given that lenders have habitually delayed taking losses on bad loans to continue even under the new book-keeping rule. partly to smooth their reported profits over time.

A majority of banks surveyed by accountants Deloitte expect their Still, Andrew Bailey, chief executive of Britain’s Prudential provisioning to rise by up to half, under the rule, known as IFRS 9, Regulation Authority, a banking watchdog, said the reform should published by the International Accounting improve provisioning so supervisors can The rule will require banks to set Standards Board (IASB) on 24th July. focus more on unexpected losses. aside some capital to cover loans on The IASB, whose rules are applied in “I hope that implementation of the over 100 countries, including Europe but day one, and recognise full lifetime new accounting standard for provisioning not in the United States, said it was its final ... is a step in this direction,” Bailey said. losses on the loan if risks have reform in response to the 2007-09 crisis.

The EU will need to endorse the rule increased, such as if a repayment is The rule will require banks to set for it to be applied in the 28-country bloc, more than 30 days late aside some capital to cover loans on day a step that could take some months. one, and recognise full lifetime losses on the loan if risks have inDespite a G20 push, the IASB and its U.S. counterpart, the Financreased, such as if a repayment is more than 30 days late. cial Accounting Standards Board, failed to agree on a common global In the run up to the crisis, banks only made provisions when a provisioning rule. The United States is taking a tougher line with its loss had been incurred, typically at the point of default.

GAAP accounting rules to force banks to make full provisioning from Accountants warn the change will lead to banks holding more day one. capital, as well as causing bigger swings in their financial figures.

“For investors it will be harder to benchmark companies and understand and compare the financial position of IFRS reporters and “The focus on expected losses is likely to result in higher volatility in the amounts charged to profit or loss, especially for financial those applying U.S. GAAP,” said Nigel Sleigh-Johnson, head of faculty institutions,” accounting firm EY said. at the ICAEW, an international accounting body. ■

T

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AFTER WORK 02. 07. 2014

Banca Intesa – “Prove Yourself 100%”

Banca Intesa has announced the winners of the 3rd consecutive student competition “Prove Yourself 100%!” The competition covers the development of projects in the area of client satisfaction, which is implemented in cooperation with the parent Intesa Sanpaolo Group.

Bojana Bobar, a student at the University of Novi Sad’s Faculty of Sciences, and Strahinja

Lazarević, a student at the Faculty of Economics of the University of Subotica in Novi Sad, authored the best projects according to the opinion of the expert committee. The main criteria guiding the commission were innovation and the possibility of implementing the project.

The winning team will represent Serbia at the final competition of the Division of International

DRAGINJA DJURIĆ, President of the Banca Intesa Serbia Executive Board, Professor VLADIMIR BUMBASIREVIC, M.D., Ph.D., Rector of the University of Belgrade, and LAURENCE ALIQUOT, Intesa Sanpaolo

Subsidiary Banks of the Intesa Sanpaolo Group, which is to be held in Italy. Each member of the winning team will receive a paid three-month training course at the bank, as well as €1,000 each. The members of the runner-up team receive a scholarship of €700 each, while the remaining eight finalists receive €300 each for their remarkable commitment to the project.

STRAHINJA LAZAREVIĆ, LAURENCE ALIQUOT, Intesa Sanpaolo, DRAGINJA ĐURIĆ, Banca Intesa Serbia, and BOJANA BOBAR

3.7.2014

First Lesaffre Baking Centre in Serbia Opens In the year marking the 40th anniversary of the creation of the famous Lesaffre baking centres, French company Lesaffre opens the first baking centre of its kind in Serbia.

Thanks to a unique educational concept, knowledge and new production trends will be available to bakery professionals in our country, which will enable them to offer the highest possible quality of bakery products on the market. Through cooperation with technologists and experts of the Lesaffre Group, bakers will constantly be able to take advantage of innovative solutions that will contribute to the development of the baking industry in the country.

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DR OGNJEN PRIBIĆEVIĆ (left), and STEPHEN WORDSWORTH, former British ambassador to Serbia 7.7.2014

Reception of British-Serbian Chamber of Commerce Sir Paul Judge, chairman of the BritishSerbian Chamber of Commerce (BSCC), was pleased to host a reception for H.E. Dr Ognjen Pribićević, Ambassador of the Republic of Serbia to the United Kingdom.

In a convivial setting, the ambassador was introduced to BSCC members, business and community leaders, and other friends of Serbia.

The reception was well attended by a number of eminent guests already conducting business in Serbia or planning future investments, as well as several members of Parliament and former UK ambassador Wordsworth.

This event was made possible thanks to the continued support of BSCC members, alongside the Serbian Embassy in London and the Government of Serbia.

DR OGNJEN PRIBIĆEVIĆ and SIR PAUL JUDGE

17.7.2014

For SmileAfter

MARINA DELEON, Communication Advisor, ACB

Airport City Belgrade is this year celebrating the tenth anniversary of the launch of this construction project. Instead of celebrating, however, the ACB management has decided to donate money to charitable causes.

The idea also appealed to the management of Novartis, so alongside ACB they jointly directed funds towards the Obrenovac public health centre. They began from the cleaning and restoring of the part of the building that will house the new X-ray centre – equipment for which was donated by Novartis. Expansion of the campaign is underway and will include the participation of other tenants of this prominent business city within the city in New Belgrade.

Meanwhile, an exhibition marking the anniversary of Airport City Belgrade has been prepared on the main ACB Avenue and should serve to remind visitors about the important dates in the history of Airport City Belgrade.

18.7.2014

Traditional Gathering at New Moment New Ideas Company Agency New Moment New Ideas Company, one of the most awarded agencies in the region, again organised its traditional gathering to mark its saint’s day, Saint Sisoje the Great.

The gathering was a good opportunity for associates, friends and clients to celebrate together the major recognition received by the New Moment New Ideas Company, Skopje, which won this year’s biggest festival of creativity in Cannes - Titan Lion.

Between two rain clouds, with good music and plenty of food, guests enjoyed the garden of the agency, while hosts Žarko and Lazar Šakan, to-

gether with their associates, did everything to ensure that this year’s gathering would also be remembered fondly.

18.7.2014

Socialist Party of Serbia (SPS) - 24th anniversary The Socialist Party of Serbia (SPS) marked its 24th anniversary at the Sava Centre in the presence of many guests and party members, as well as representatives of other political parties and the diplomatic corps.

“There are no different concepts of the future. The upcoming SPS Congress, which will most likely be held on 14th December, should be a turning point for the party, from what it represented in the past to what it should represent in the future” said party leader Ivica Dačić.

Also speaking at the celebration,

18.7.2014

“Turnovers” Exhibition An exhibition staged in collaboration between the Museum of Contemporary Art in Belgrade (MSU) and London’s Tate Modern, entitled “Turnovers”, has opened at the MSU Salon.

The exhibition is a follow-up to the project “Inverted House”, which ran at the Tate Modern from November 2013 to April 2014, and explores the museum as a space for reflection, building and forming

Prime Minister Aleksandar Vučić said that he respects the efforts of the Socialists and their coalition partners, as well as their approach to current issues in the country.

a process. This collaborative exhibition comprises the works of artists Siniša Ilić, Tina Gverović and Ben Cain dealing with issues relating to the museum of today by considering the similarities in the way in which the two institutions (MSU and Tate) develop their programmes and operate despite clear economic and social differences between the two countries.

The exhibition, which opened in midJuly, presents the movie “Chameleon”, sound installation “Houses on the Move” by Ilić and Gverović, and Cain’s multimedia work “Short Falls”.

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118 August 2014 | 43

CULTURE CALENDAR CONCERTS

Americana Night Tour various cities, 1-10 August Following the second consecutive Americana Night Festival, which was held on 12th June in Belgrade’s Dom Omladine youth centre, the band Stray Dogg are now heading on a tour around Serbia, which is a continuation of the Americana Night festival.

This year the band will visit nine cities in three weeks: Kruševac, Požarevac, Smederevo, Užice, Kraljevo, Valjevo, Inđija, Pančevo and Aranđelovac.

Both the Americana Festival Night and the Stray Dogg tour received support from the U.S. Embassy in Belgrade.

Americana Night is a festival that brings together bands whose musical expression is within the sphere of indie rock and American folk. Visitors will have the opportunity to participate in completely different concert forms of interactive performance and a completely atypical way of enjoying the good vibrations of the music. In addition to high quality musical content, somewhat unusual scenery will ensure the audience also enjoys the visual aspect.

Heritage Singers Sava Centre, 16 August @ 19.00 Heritage Singers are an American Gospel group founded by Max Mace and his wife Lucy, with their two children, Val and Greg. Upon entering

their fourth decade, they have travelled to over 65 countries, performed over 7,000 concerts, produced 200 television programmes and recorded over 100 albums.

After four years of performing with a patriotic/folk singing group to promote Portland-based United Medical Laboratories named Rose City Singers, the Maces decided to resign and form a Christian group in 1971.

The first year they released two albums Come Along With the Heritage Singers and Hymns We Remember. They performed their first public concert in June that year. Early accompanists included Bob Silverman on piano and Pete McLeod and Jeff Wood on guitar. In 1974 the Heritage Singers collaborated with Ron Huff, who arranged their first albums with full orchestration. As their popularity grew (along with a television series, Heritage Singers Presents), they formed a second group in September 1974, dubbed Heritage II, (subsequently named New Creation) to perform mostly at cities located in the eastern half of the United States; and a third group, Heritage Singers en Espanol, which tours South America singing Spanish versions of the group’s signature songs.

More than 250 people (including Chris Willis) have performed as members of Heritage Singers; however, the Mace family has remained at its core. Celebratory reunion concerts were held in 1979, 1986 (Anaheim Convention Centre), 2001 (Ontario Convention Centre) and 2005 (Crystal Cathedral).

Kragujevac, 21-23 August

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Barutana, 22 August @ 21.00

Novelle Vague is always a welcome guest in our country. Thanks to these charismatic singers performing well-known tunes of the new wave and presenting them with a completely new twist and a touch of Brazilian pop rhythms, their concerts are always long remembered events.

Visitors to Barutana (the Powder Magazine) on 22nd August will once again be able to hear some legendary songs performed in Nouvelle Vague’s unique manner, such as “Love Will Tear Us Apart” (Joy Division), “In A Manner Of Speaking” (Tuxedomoon), “Master and Servant” (Depeche

Belgrade Beer Fest

Šumadija Fest The aim of the Šumadija Fest is for Kragujevac, as the centre of Šumadija, to become a host of cultural, sporting and artistic events implemented through a variety of activities and thereby attract a large number of young people.

Promoting important targets for the development of society, in cooperation with other organizations through a variety of public forums and lectures enables young people to become actively involved in the development of their environment and their community.

What is important is that organisers provide space for young aspiring bands to perform with big names from the world of music and have the opportunity to present themselves in the best way possible to the audience.

The sporting part of the festival

Nouvelle Vague

refers to tournaments in football, beach volleyball and 3-on-3 basketball, where young people are encouraged to get more involved in sports.

The charity aspect of the festival consists of a variety of humanitarian actions practiced with the Red Cross, which not only help the most vulnerable people, but also spread awareness about humanity and contribute to society.

The first Šumadija Fest will be held on 27th August 2011.

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Ušće, 13-17 August The 12th Belgrade Beer Fest will be held from 13th to 17th August at the confluence of the Danube and the Sava, otherwise known as Ušče. As in previous years, the main advantages of this very popular event in Southeast Europe will be a great atmosphere, a musical programme presenting the best performers in the country, the region and the world, as well as a wide variety of beer brands available.

At the grand opening of this year’s festival, on Wednesday 13th August, audiences can enjoy performances by international stars - the King of Soul CeeLo Green and one of the world’s most sought after DJs, Felix Da Housecat. In addition to international stars, the first day of the festival will include the performance of legendary band from the region Parni Valjak, who will be appearing at the Belgrade Beer Fest for the first time. On the same day the public will also have the opportunity to enjoy performances by bands Love Hunters and Black Box. The ticket price for

this first night will be a symbolic 300 dinars.

During the other four nights of the festival, from 14th to 17th August, the entrance will be free, as is tradition. Performers will be top musicians from the region, including Bajaga, Plavi Orkestar,

Mode), “God Save the Queen” (Sex Pistols), “Dancing with Myself” (Billy Idol), “Road to Nowhere” (Talking Heads), and many others.

Nouvelle Vague, which is led by producers Marc Collin and Olivier Libaux, became famous with covers of hits of the new wave and punk and rock classics. The trademarks of the band are energetic live performances of two charismatic and excellent singers.

Their success is confirmed with over 700,000 sold albums and hundreds of sold-out concerts around the world.

Van Gogh, Hladno Pivo, Darren Emerson, Goblini, Bad Copy, YU Grupa, Edo Maajka, Darkwood Dub, Orthodox Celts, S.A.R.S., Sanja Ilić and Balkanika, Garavi Sokak, Inspektor Blaža and Kljunovi, Kanda, Kodža & Nebojša, Bilja Krstić & the Bistrik Orchestra, the Dejan Petrović Big Band and many others.

Besides great music, visitors will also have the opportunity to taste a wide range of beers.

This year 50 different international and Serbian beer brands will be present during the Festival.

The entire programme of the festival can be viewed at belgradebeerfest.com

Nišville Niš Fortress, 16/17 August Participation in the 2014 Nišville Jazz Festival has been confirmed by Brazilian pianist and singer Tania Maria, American singer of Nigerian descent Iyeoka, who many refer to as the black Amy Winehouse, the best European big band – the Brussels Jazz Orchestra, the pioneers of rhythm and blues & soul directions - the legendary Original Blues Brothers Band, followed by the most popular Serbian Viva Vox Choir, All-Stars Jazz Band - American band the Cookers, and legendary ex-Yu jazz-rock greats - Slovenian band September and many others.

CULTURE NEWS

Nišville Night at Kolarac Kolarac, 16 August @ 20.00 This year’s Nišville Jazz Festival will present part of its programme in Belgrade on 16th August at Kolarac. One of the world’s best big bands, the Brussels Jazz Orchestra, will perform, as will the best Serbian jazz band - Eyot.

The Brussels Jazz Orchestra, which performs in Niš on the previous day, will perform its multimedia project “Graphicology” - visual jazz scores, combining graphic novels and music for big band jazz – which, along with the BJO, sings together with famous Belgian comic artist Philip Paquet, whose jazz graphic novels (especially the one about Louis Armstrong) have gained worldwide acclaim. He chose the four existing comics with a jazz theme and compiled two entirely new ones, while all six authors wrote music that BJO performed on stage, while strip stories were simultaneously screened on the video wall. Official confirmation of the highly rated BJO (which this year celebrates its 20th anniversary) includes this year’s nominations for two Grammy Awards: for the album “Wild Beauty” (“Half Note Records”), which features famous saxophonist Joe Lovano in the category “Best big jazz ensemble album”, and “Best Instrumental Arrangement” (author Gil Goldstein) - the title song from this album.

It is also worth noting that the Brussels Jazz Orchestra performed the soundtrack for the film “The Artists”, which won an Academy Award for best music!

FILM

Ah, those 70s!

French Institute/Yugoslav Film Archives, 8 July – 30 August This summer the French Institute and the Yugoslav Cinematheque are presenting to the Belgrade audience French comedy films from the 1970s that have overcome their epoch and the borders of the country they were made in.

French Film Caravan, Aleksinac 17-30 July The French Film Caravan has been held at the Summer Stage in Aleksinac from 17th-30th July. Under the theme “From the female point of view”, the films screened free of charge each Thursday during this period included Dear Pridans, Son of others, Augustine and Meeting in Kiruna.

Carried by very important figures in film (Pierre Richard, Louis de Fines etc.) at a time when television became present in most homes, in the 1970s French film began moving on a wave of innovation that was brought to France and Europe in May 1968 and offered the audience comedies that would go on to become timeless classics.

Discovering new freedom, this comedy will deal with topical issues of the time, such as the gap between tradition and modernity and the growing emergence of the consumer society, with enthusiasm, commitment and innovation.

They will also bring together the old stars of French film (De Fines, Belmondo, Lino Ventura, Yves Montand etc.) with the new generation (Pierre Richard and Jean Jan, then Coluche and the members of Splendid). In 1976 Claude Zidi’s film “The Wing or the Thigh” was released, symbolising all of the aforementioned tendencies.

Besides great success in France, this comedy quickly crossed borders and conquered Europe, both the east and the west. This was particularly visible in the former Yugoslavia, which had just opened up to the Western world, and even in less open countries of the time, such as Czechoslovakia, which was then feeling the effects of the Prague Spring.

Thanks to the extraordinary richness of its archives, the Yugoslav Cinematheque Film Archive has preserved not only a large number of these films, but also the original Yugoslav and Czech posters. The latter is characterised by outstanding quality....

The French Institute invites you to check out the 20 posters that will be exhibited during the summer, while the Yugoslav Film Archive will screen the film ‘The Wing or the Thigh’ on Thursday 10th July at 8.30pm in the cinema hall of the new building.

Laughter is guaranteed throughout the summer!

Liber Cuatro Cvijeta Zuzorić, 4 July

Libercuatro held a concert at the Cvijeta Zuzorić Art Gallery on 4th July. The ensemble performed at the closing of the Kalemegdan Sunset Festival, which was organised by the Musical Youth of Belgrade.

The Libercuatro ensemble consists of four professional musicians who came together with a desire to expand the audience’s interested in tango music, which is part of the tango culture that was included on UNESCO's cultural heritage list in October 2009.

The Libercuatro Music Quartet is a colourful fusion of traditional tango, jazz, neo-Baroque style and theatre. The

Zemun Wine Festival Veli Square, 5-6 July On 5th and 6th July the Serbian Wine Association, in cooperation with the Tourist Organisation of Belgrade and PUC “Belgrade Markets”,

organised a cultural wine festival in Veli Square in Zemun, under the auspices of the Danube Day event.

The wine festival was organised with the support of the Municipality of Zemun, the Serbian Sommelier Association, the Association of Winemakers and Winegrowers of Serbia, the Belgrade Chamber of Commerce and the City of Belgrade Secretariat for the Economy. As part of the event, a charity auction of traditional wines was organised on 4th July in the Conference Hall of the Old Palace, with the income generated paid onto the special account of the City of Belgrade designated for assisting the victims of the recent floods.

Filmstreet Festival various locations, throughout July For the fourth consecutive year, Filmstreet turned city streets, parks, squares and corners into open-air movie theatres.

ensemble’s members devote special attention to the compositions of Astor Piazzolla, as this composer’s take on tango - Tango Nuevo - created a unique musical revolution. In addition to the works of Piazzolla, the ensemble also performs well known compositions by Ginaster, Gardel, Villoldo Guastavin and Rodriguez, as well as excerpts from the tango opera "Maria de Buenos Aires".

The creator, arranger and artistic director of the ensemble is pianist Ksenija Ristić. The quartet maintains regular concert activity and, following a very successful performance at the Belgrade Culture Centre, Libercuatro will present the audiences at Kolarac and the Studentski Grad Culture Centre with works by Piazzolla, Gardel, Rodriguez and Villoldo. The ensemble will perform in the following composition: Ksenija Ristić (piano, arranger), Teuta Asllani (soprano), Uroš Gavrilović (violin) and Vladimir Perić (accordion). The special guests are tango dance couple Mirjana Savić and Miša Plavšić.

During the summer, big screens were placed at 15 attractive locations throughout Belgrade, showing 40 iconic works of world cinema. Student park, Tašmajdan Park, Kalemegdan, Skadarlija, Cvetni Trg, Čubura, Zemun Quay, Sava Promenade and other picturesque neighbourhoods played host to legendary films, such as the comedy “Some Like It Hot”, the most important sci-fi achievement of all time “2001: A Space Odyssey” and the authentic “Trainspotting”.

In commemoration of the centenary of World War I, visitors had the opportunity to enjoy a mini concert as a prelude to the projection of the domestic classic “March on the Drina”.

Filmstreet also celebrated 75 years of “The

Wizard of Oz”, as well as bringing the spirit of Italy to the capital with the screening of Fellini’s “La Dolce Vita” and screening remakes of Broadway classics, European cinema pearls, Oscar-winning comedies, high dramas, thrillers, animated movies and much more.

During the screenings visitors were able to freshen up with a cold beer and thereby help the joint humanitarian campaign of Filmstreet and Amstel. All the proceeds collected in this humanitarian action were used to help the victims of the floods.

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118 August 2014 | 45

FACES & PLACES

Dr Paul-Emile Tshinga Ahuka (left) and Algerian Ambassador Abdelkader Mesdoua 30.06.2014.

Independence Day of the D.R. of Congo The head of mission of the Democratic Republic of Congo, Dr Paul-Emile Tshinga Ahuka, hosted a reception to mark the anniversary of his country’s independence. After paying respect to the victims of the

floods that hit Serbia, Dr Tshinga said that the DRC Government fully supports the Serbian leadership in its efforts towards European integration, economic recovery and its commitment to preserve the territo-

30.06.2014

rial integrity and sovereignty of this beautiful country.

The reception was attended by many members of the diplomatic corps, Serbian government officials and representatives of political, cultural and public life.

01.07.2014

Recognition for the 27th Suissegas Belgrade Marathon

Canada Day

The 27 SuisseGas Belgrade Marathon was commemorated in the formal hall of the Old Palace, with honours and special awards bestowed on the individuals and companies who contributed most to the excellent organisation of this year’s 27th SuisseGas Belgrade Marathon. The awards were presented by Aleksandar Saša Đorđević, President of the Belgrade Marathon.

The Fred Lebow Trophy for contributions to the existence, continuation and advancement of the marathon was awarded to Siniša Mali, Belgrade Mayor and President of the Organising Committee of the 27th Belgrade Marathon, and Vanja Udovičić, Serbian Minister of Youth and Sports. Among others, a recognition was also received by CorD magazine for organising the eighth consecutive CorD Charity Master’s humanitarian race.

H.E. Ambassador Roman Waschuk hosted a gala reception on the occasion of Canada Day, the biggest national holiday of this North American country, in the garden of the ambassadorial residence.

This proved an excellent opportunity to bring together in one place the most important Serbian business leaders, senior political officials, members of the diplomatic corps and other friends of Canada.

Mr and Mrs Waschuk wished all guests a warm welcome at the entrance and, following protocol activities, they were awaited in the garden by a pleasant celebration that everyone enjoyed.

th

Mr and Mrs Waschuk

Ruža Ristanović, aim Executive Director, and Goran Vesić, Belgrade City Manager

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118 August 2014 | www.cordmagazine.com

02.07.2014

U.S. Independence Day Celebrations

Mrs and Mr Kirby welcome Ivan Tasovac, Serbian Minister of Culture and Information

At a reception to mark the occasion of U.S. Independence Day, traditionally the 4th of July, H.E. Ambassador Michael Kirby said that there are various models of governance in the world, but that Serbia has chosen democracy, an example of which was this year’s elections.

Kirby also said that this year Serbia “confirmed another of its decision, your path to the European Union,” adding that the U.S. would continue to provide Serbia with support on that path.

The Independence Day celebrations at the ambassadorial residence included, among other things, the commemorating of the heroes of the SerbianAmerican Friendship of World War I, with photographic images depicting that period on display during the celebration.

Nenad Radujević (left), Fashion Studio Click, Mr Semuel Samson, Ambassador of the Republic of Indonesia to Serbia, with Mrs Samson and H.E. Narinder Chauhan, Ambassador of India to Serbia 03.07.2014

Humanitarian Fashion Show – Indian Embassy The Embassy of India and Fashion Studio Click hosted an evening of Serbian fashion design at Belgrade’s India House in support of Serbia’s flood victims.

Visitors both attended the fashion show and also took part in an exclusive bazaar. In the second half of May the Government of India sent $100,000 in financial support as a direct form of assistance to the Serbian people affected by the severe consequences of the catastrophic flooding.

“The Government of India is deeply saddened by the tragic loss of life and damage to property caused by the freak floods in Serbia, a country with which India nurtures historical and friendly ties,” said H.E. Ambassador Narinder Chauhan on the occasion.

Ivica Dačić, First Deputy Prime Minister (left), Mr and Mrs Kirby and Tomislav Nikolić, Serbian President

11.07.2014

EU Open Day – Italy Brings Europe to Serbia To mark the occasion of the start of Italy’s sixmonth presidency of the European Union, the Italian Embassy, in cooperation with the Delegation of the European Union and the EU Info Centre, opened its doors to all visitors under the auspices of the EU Open Day event “Italy brings Europe to Serbia”.

H.E. Ambassador Giuseppe Manzo (left), Jadranka Joksimović, Minister for European Integration, and H.E. Michael Davenport, EU Ambassador to Serbia

Visitors were able to gain information about the European Union, and in particular the activities Italy intends to promote during its presidency in order to support negotiations on Serbia’s EU accession.

H.E. Italian Ambassador Giuseppe Manzo and EU Ambassador to Serbia Michael Davenport answered

the questions of Twitter users within Twitter Chat on the hashtag #pitajEU, and then, together with Serbian Minister for European Integration, Jadranka Joksimović, held discussions with students of the University of Belgrade and representatives of NGOs dealing with European issues.

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118 August 2014 | 47

FACES & PLACES

13.07.2014

Germany Crowned World Champions The German ambassadorial residence in Belgrade saw the Charge d’Affaires of Germany and Argentina, Michael Hasenau and Juan Bautista Scartascini del On the occasion of France’s national Republic Day holiday, French Ambassador to Serbia, H.E. François-Xavier Deniau, hosted a reception at his residence that was attended by several hundred distinguished guests.

The ambassador and his wife welcomed the guests, who enjoyed the beautiful surroundings of the residence’s garden. Guests were first addressed by Ambassador Deniau, who said that his country will actively support Serbia on its path towards EU accession, and then Prime Minister Aleksandar Vučić, who expressed satisfaction with the traditionally good relations between the two countries. The event’s special guest was Bernard Cazeneuve, Minister of Internal Affairs of France.

Following official proceedings, guests enjoyed traditional French cuisine and famous wines and champagne.

Juan Bautista Scartascini del Rio (left), Ivica Dačić, First Deputy Prime Minister, and Michael Hasenau

Rio, organise a shared viewing of the live broadcast of the final of the 2014 FIFA World Cup between their two countries in Brazil. With a large number of

14.07.2014

French National Holiday

Vladan Atanasijević, President of NALED, (left) and Bratislav Gašić, Serbian Minister of Defence 15.07.2014

Naled Summer Meeting Ambassador and Mrs Deniau

Bernard Cazeneuve, Minister of Internal Affairs of France, (left) and Aleksandar Vučić, Serbian Prime minister

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friends and supporters of both teams, the final was watched in a friendly atmosphere, with beer and traditional German pastries.

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The traditional summer meeting of NALED leaders and partners was held at restaurant Madera, brining together members of the NALED Managing Board, business leaders and mayors, headed by the President of NALED, Vladan Atanasijević, President of the Executive Board, Darko Vukobratović, President of the Ethics Committee, David Lythgoe, IMF Director Daeheang Kim, Ambassador of Switzerland, H.E. Jean Daniel Ruch, and other distinguished guests. A special guest was Bratislav Gašić, Serbian Minister of Defence, who expressed the gratitude of the Government of Serbia for the support provided by NALED in implementing reforms significant to Serbia’s economic development.

Mrs. Tanja Miscevic Head of the Negotiation Team for the EU Accession of the Republic of Serbia 08.07.2014

Presentation Of Lazar Džamic’s Book

Mr. Jurgen Schmid first secretary for economic cooperation, German Embassy and Mrs. Ruža Ristanović CorD magazine

Under the auspices of the project “Support to the process of the European integration of Serbia” Belgrade’s Club of Parliamentarians hosted a presented of the book “Flower shop in the house of Flowers” by Serbian journalist and communications expert Lazar Džamić.

The book explains the Serbian mentality through the example of the legendary Alan Ford comic strip and 10 words/terms that may be useful for navigating and better understanding the Serbian mentality.

Speaking on the occasion, the head of Serbia’s negotiating team for EU accession negotiations, Tanja Miščević, reminded that the Alan Ford comic had a huge influence in the former Yugoslavia because “we recognize ourselves in these comic strips”.

The event was attended by representatives of the Serbian government and the diplomatic corps, as well as representatives of domestic and foreign companies, media and other guests.

The event was organised by the GIZ project “Support to the process of the European integration of Serbia”, the Office for European Integration of the Republic of Serbia and CorD magazine.

Mr. Lazar Dazmic, author

Mr. Lazar Dazmic, author, Mrs. Kori Udovicki Minister of Public Administration and Local Self-Government .and Mr. Milan Predan, deputy of the ambassador of Slovenia

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auction see auction south east europe Belgrade Office

Makenzijeva 67, 11000 Belgrade, Serbia Tel: +381 11 2450 508; Fax: +381 11 2450 122 office@auction-see.com

Podgorica Office

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PREVIEW GUIDE

Basketball WORLD CUP 2014

S PA I N 3 0 AU G - 1 4 S E P cordeditorial@cma.rs |

118 August 2014 | 51

FIBA WORLD CUP 2014 spain S C H E D U L E

PRELIMINARY ROUND SATURDAY AUGUST 30 Group A: Granada Group 15.30 Egypt-Serbia 18:00 France-Brazil 22.00 Iran-Spain

B: Seville 12:30 Croatia-Philippines 17.30 Puerto Rico-Arg. 20.00 Greece-Senegal

Group C: Bilbao Group D: Gran Canaria 12:30 Ukraine-Dom. Rep. 12:30 Angola-S. Korea 16:00 New Zealand-Turkey 16:30 Australia - Slovenia 21:30 USA-Finland 19:00 Mexico – Lithuania SUNDAY, AUGUST 31 GroupA: Granada 15:30 Serbia-France 18:00 Brazil-Iran 22:00 Spain-Egypt

Group B: Seville 13:30 Argentina-Croatia 17:30 Senegal-Puerto Rico 20:00 Philippines-Greece

Group C: Bilbao 12:30 Dom. Rep.-New Zeal.

16:00 Finland-Ukraine 21:30 Turkey-USA

Group D:GranCanaria 12:30 South Korea-Australia 16:30 Slovenia-Mexico 19:00 Lithuania-Angola

MONDAY, SEPTEMBER 1 Group A: Granada 15:30 Iran-Serbia 18:00 France-Egypt 22:00 Brazil-Spain

Group B: Seville 12:30 Croatia-Senegal 17:30 Argentina-Philippines 20:00 Puerto Rico-Greece

TUESDAY, SEPTEMBER 2 Group C: Bilbao 15:00 Ukraine-Turkey 17:30 USA-New Zealand 21:30 inland-Dom. Rep.

Group D: Gran Canaria 12:30 Angola - Mexico 16:30 Australia-Lithuania 19:00 South Korea-Slovenia

WEDNESDAY, SEPTEMBER 3 Group A: Granada 15:30 Egypt-Iran 18:00 Serbia-Brazil 22:00 Spain-France

Group B: Seville 13:30 Philippines-Puerto Rico 17:30 Senegal-Argentina 22:00 Greece-Croatia

Group C:Bilbao 15:00 New Zealand-Ukraine 17:30 Turkey-Finland 21:30 Dom. Republic-USA

Group D: Gran Canaria 12:30 Mexico-Australia 16:30 Slovenia-Angola 19:00 Lithuania-South Korea

THURSDAY, SEPTEMBER 4 Group A: Granada 15:30 Brazil-Egypt 18:00 Iran-France 22:00 Serbia-Spain

Group B: Seville 14:00 Senegal-Philippines 18:00 Croatia-Puerto Rico 22:00 Argentina-Greece

Group C: Bilbao 15:00 Finland-New Zealand 17:30 Ukraine-USA 21:30 Turkey-Dom. Rep.

Group D: Gran Canaria 12:30 Australia-Angola 16:30 South Korea-Meico 20:30 Lithuania-Slovenia

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ROUND OF 16 SATURDAY, SEPTEMBER 6 Madrid Barcelona Time TBD A3 - B2 C3 - D2 Time TBD A1 - B4 C1 - D4 SUNDAY, SEPTEMBER 7 Madrid Barcelona Time TBD A4 - B1 C4 - D1 Time TBD A2 - B3 C2 - D3 Note: Order of games will be finalized by FIBA prior to the Round of 16. Barcelona game times are 14:00 and 20:00, Madrid game times are 18:00 and 22:00

QUARTERFINALS TUESDAY, SEPTEMBER 9: Barcelona Time TBD Winner C3/D2 vs. Winner C1/D4 (Q1) Time TBD Winner C4/D1 vs. Winner C2/D3 (Q2) WEDNESDAY, SEPTEMBER 10: MADRID Time TBD Winner A3/B2 vs. Winner A1/B4 (Q3) Time TBD Winner A4/B1 vs. Winner A2/B3 (Q4) Note: Order of games will be finalized by FIBA prior to the Round of 16. Barcelona game times are 17:00 and 21:00, Madrid game times are 18:00 and 22:00

SEMIFINALS

basketball World cup 2014

THURSDAY, SEPTEMBER 11: Barcelona 21:00 Winner Q1 vs. Winner Q2 FRIDAY, SEPTEMBER 12: Madrid 22:00 Winner Q3 vs. Winner Q4

FINALS SATURDAY, SEPTEMBER 13: Madrid 18:00 Bronze Medal Game: Semifinals Losers SUNDAY, SEPTEMBER 14: Madrid 21:00 Gold Medal Game: Semifinals Winners

GROUP

A

Player to Watch

Brazil

ANDERSON VAREJAO

Player to Watch

Egypt

ASSEM MAREI

Player to Watch

BORIS DIAW

France

BRAZIL | PRELIMINARY SQUAD Player / Position

Heighs / Age

Leandro BARBOSA / Guard Marcus DE SOUZA / Small Forward Alex GARCIA / Shooting Guard Guilherme GIOVANNONI / Small Forward Nenê HILARIO / Center Marcelo HUERTAS / Point Guard Marcelo MACHADO / Guard Tiago SPLITTER / Center Larry TAYLOR / Small Forward Anderson VAREJAO / Center

191 / 31 207 / 30 189 / 34 204 / 34 211 / 31 190 / 31 201 / 39 209 / 29 185 / 33 207 / 31

Average height: 198 cm; Average age: 32 Coach: Ruben MAGNANO

EGYPT | PRELIMINARY SQUAD Player / Position

Heighs / Age

Rami ABD ALLA / Power Forward Sheriff ABD ALLA / Shooting Guard Ibrahim ABOU-KHADRA / Shooting Guard 188 / 25 Youssef ABOU-SOUSHA / Small Forward 192 / 21 Ahmed BARAKA / Small Forward Mouhanad EL SABAGH / Point Guard Ibrahim EL-GAMMAL / Shooting Guard Mohamed ELL-ITHY / Small Forward Haytham KHALIFA / Power Forward Wael KHEDR / Point Guard Anas MAHMOUD / Center Assem MAREI / Center

205 / 26 186 / 35

198 / 25 180 / 26 189 / 26 194 / 24 202 / 26 198 / 35 203 / 19 204 / 22

Average height: 197 cm; Average age: 26 Coach: Amr ABOUL-KHEIR

FRANCE | PRELIMINARY SQUAD Player / Position

Heighs / Age

Nicolas BATUM / Small Forward 203 / 25 Nobel BOUNGOU COLO / Forward Nando DE COLO / Guard Boris DIAW / Power Forward Antoine DIOT / Point Guard Evan FOURNIER / Small Forward Mickael GELABALE / Small Forward Rudy GOBERT / Center Thomas HEURTEL / Point Guard Edwin JACKSON / Forward Charles KAHUDI / Small Forward Joffrey LAUVERGNE / Power Forward Adrien MOERMAN / Power Forward Florent PIETRUS / Power Forward Ian MAHINMI / Center Kim TILLIE / Center

Average height: 200 cm; Average age: 26 Coach: Vincent COLLET 54 |

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202 / 26 196 / 27 203 / 32 193 / 25 198 / 21 201 / 31 218 / 22 188 / 25 188 / 24 199 / 27 211 / 22 202 / 25 199 / 33 211 / 27 207 / 25

Player to Watch

Iran

HAMED HADADI

Player to Watch

Serbia

BOGDAN BOGDANOVIĆ

Player to Watch

PAU GASOL

Spain

IRAN | PRELIMINARY SQUAD Player / Position

Heighs / Age

Hamed AFAGH / Shooting Guard Rouzbeh ARGHAVAN / Center Javad DAVARI / Shooting Guard Aren DAVOUDICHEGANI / Point Guard Hamed HADADI / Center Mohammad JAMSHIDI / Small Forward Mahdi KAMRANI / Point Guard Asghar KARDOUST / Center Samad NIKKHAH / Small Forward Oshin SAHAKIAN / Forward Hamed SOHRABNEJAD / Forward Saman VEISI / Shooting Guard

192 / 31 214 / 26 185 / 31 186 / 27 218 / 29 199 / 22 186 / 32 211 / 28 198 / 31 200 / 28 201 / 31 200 / 31

Average height: 199 cm; Average age: 29 Coach: Mehmed Becirovic

SERBIA | PRELIMINARY SQUAD Player / Position

Heighs / Age

Danilo ANDJUSIC / Guard Nemanja BJELICA / Forward Bogdan BOGDANOVIC / Shooting Guard Djordje GAGIC / Center Nikola KALINIC / Small Forward Rasko KATIC / Center Nemanja KRSTIC / Shooting Guard Nenad KRSTIC / Center Stefan MARKOVIC / Point Guard Vasilje MICIC / Point Guard Nemanja NEDOVIC / Guard Vladimir STIMAC / Center

195 / 23 209 / 26 197 / 21 211 / 23 203 / 22 208 / 33 198 / 21 214 / 30 199 / 26 195 / 20 191 / 23 211 / 26

Average height: 202 cm; Average age: 24 Coach: Aleksandar Djordjevic

SPAIN | PRELIMINARY SQUAD

Heighs / Age

Player / Position Álex ABRINES / Forward José CALDERON / Point Guard Victor CLAVER / Power Forward Rudy FERNANDEZ / Forward Marc GASOL / Center Pau GASOL / Forward Serge IBAKA / Center Sergio LLULL / Shooting Guard Juan-Carlos NAVARRO / Guard Felipe REYES / Forward Sergio RODRIGUEZ / Point Guard Ricky RUBIO / Point Guard

198 / 20 190 / 32 207 / 25 196 / 29 210 / 29 215 / 34 208 / 24 178 / 26 191 / 34 206 / 34 191 / 28 N/A / 23

Average height: 199cm; Average age: 28 Coach: ORENGA FORCADA

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GROUP

B

Player to Watch

Argentina

MANU GINOBILLI

Player to Watch

Croatia

DARIO SARIC

Player to Watch

Greece

IOANNIS BOUROUSIS

ARGENTINA | PRELIMINARY SQUAD Player / Position

Heighs / Age

Adrián BOCCA / Guard Matias BORTOLIN / Center Facundo CAMPAZZO / Point Guard Carlos DELFINO / Guard Marcos DELLA / Center Pablo ESPINOZA / Small Forward Juan FERNANDEZ / Point Guard 194 / 23 Manu GINOBILLI / Guard Nicolás LAPROVITTOLA / Point Guard LeonarDO MAINOLDI / Forward Marcos MATA / Small Forward Andrés NOCIONI / Forward Pablo PRIGIONI / Guard Selem SAFAR / Power Forward Luís SCOLA / Center

195 / 31 207 / 21 179 / 23 200 / 31 206 / 22 200 / 27 198 / 36 194 / 24 204 / 29 201 / 27 201 / 34 191 / 37 190 / 27 204 / 34

Average height: 198 cm; Average age: 28 Coach: Julio Cesar LAMAS

CROATIA | PRELIMINARY SQUAD Player / Position

Heighs / Age

Luksa ANDRIC / Center Luka BABIC / Small Forward Miro BILAN / Center Bojan BOGDANOVIC / Shooting Guard Mario DELAS / Power Forward Mario HEZONJA / Guard Damir MARKOTA / Center Fran PILEPIC / Shooting Guard Darko PLANINIC / Center Damjan RUDEZ / Power Forward 207 / 28 Dario SARIC / Power Forward Krunoslav SIMON / Shooting Guard Rok STIPCEVIC / Guard Ante TOMIC / Center Roko UKIC / Point Guard Luka ZORIC / Center

202 / 29 201 / 22 213 / 24 204 / 25 207 / 24 200 / 19 209 / 28 194 / 25 212 / 23 207 / 20 197 / 29 188 / 28 217 / 27 188 / 29 205 / 29

Average height: 203 cm; Average age: 26 Coach: Jasmin Repesa

GREECE | PRELIMINARY SQUAD Player / Position Giannis ATHINAIOU / Shooting Guard Giannis ANTETOKOUMPO / Small Forward George BOGRIS / Center Ioannis BOUROUSIS / Center Nick CALATHES / Point Guard Vladimir JANKOVIC / Small Forward Kostas KAIMAKOGLU / Forward Andreas GLYNIADAKIS / Center Vangelis MANTZARIS / Point Guard Kostas PAPANIKOLAOU / Small Forward Georgios PRINTEZIS / Forward Kostas SLOUKAS / Point Guard Michalis TSAIRELIS / Forward Kostas VASSILIADIS / Shooting Guard Ian VOUGIOUKAS / Center Nikos ZISIS / Shooting Guard

Average height: 204 cm; Average age: 26 Coach: Fotis Katsikaris 56 |

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basketball World cup 2014

Heighs / Age 196 / 26 208 / 19 210 / 25 213 / 30 198 / 25 202 / 24 205 / 31 216 / 32 195 / 23 206 / 24 206 / 29 190 / 24 208 / 26 200 / 30 211 / 29 197 / 31

Player to Watch

Philippines

MARCUS DOUTHIT

Player to Watch

Puerto Rico

MAURICE HARKLESS

Player to Watch

PAPE DIATTA

Senegal

PHILIPPINES | PRELIMINARY SQUAD Player / Position

Heighs / Age

Japeth AGUILAR / Forward Jim ALAPAG / Guard Jeffrei CHAN / Guard Gary DAVID / Guard Ranidel DE OCAMPO / Forward Marcus DOUTHIT / Center June Mar FAJARDO / Center Larry FONACIER / Guard Gabriel Daniel NORWOOD / Guard Jean Marc PINGRIS / Forward Lewis TENORIO / Guard Jayson WILLIAM / Guard

208 / 27 176 / 36 193 / 31 188 / 35 196 / 32 210 / 34 208 / 24 192 / 32 194 / 29 196 / 32 176 / 30 176 / 28

Average height: 193 cm; Average age: 31 Coach: Vincent REYES

PUERTO RICO | PRELIMINARY SQUAD Player / Position

Heighs / Age

Carlos ARROYO / Shooting Guard Larry AYUSO / Shooting Guard Renaldo BALKMAN / Power Forward Jose BAREA / Point Guard Richard CHANEY / Shooting Guard Ramon CLEMENTE / Center Alexander GALINDO / Power Forward Maurice HARKLESS / Power Forward John HOLLAND / Small Forward Andres RODRIGUEZ / Point Guard Ricardo SANCHEZ / Power Forward Daniel SANTIAGO / Center Luis VILLAFAÑE / Center

185 / 34 192 / 37 200 / 29 180 / 30 196 / 30 200 / 28 200 / 29 206 / 21 198 / 25 184 / 33 213 / 27 213 / 38 208 / 33

Average height: 197 cm; Average age: 30 Coach: OLMOS HERNANDEZ

SENEGAL | PRELIMINARY SQUAD Player / Position

Heighs / Age

Louis ADAMS / Point Guard Abdou BADJI / Power Forward Xane DALMEIDA / Guard PapeSadiaw DIATTA / Forward Gorgui DIENG / Center Ibrahima DIOP / Center Mohamet DIOP / Small Forward Mouhammad FAYE / Small Forward PapeMalick GADIAGA / Point Guard Ibrahima MBENGUE / Shooting Guard El HadjiMalick NDIAYE / Shooting Guard Hamady NDIAYE / Center Maleye NDOYE / Small Forward Mamadou NDOYE / Point Guard Ibrahima NIANG / Guard Thierno NIANG / Shooting Guard Saer SENE / Center Abdoulaye THIAM / Guard Ibrahima THOMAS / Power Forward Babacar TOURE / Forward

185 / 24 208 / 22 183 / 31 204 / 19 211 / 24 208 / 32 198 / 33 208 / 28 188 / 28 203 / 31 198 / 27 212 / 27 203 / 33 190 / 34 195 / 19 195 / 24 211 / 28 183 / 32 211 / 27 206 / 28

Average height: 194 cm; Average age: 27 Coach: Cheikh SARR

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GROUP

C

Player to Watch

Dominican Republic

KARL-ANTHONY TOWNS

Player to Watch

Finland

ERIK MURPHY

Player to Watch

EMIR PRELDZIC

Turkey

DOMINICAN REPUBLIC | PRELIMINARY SQUAD Player / Position

Heighs / Age

Eulis BAEZ / Forward Juan CORONADO / Point Guard James FELDEINE / Guard Elpidio FORTUNA / Shooting Guard Francisco GARCIA / Forward Ricardo GREER / Small Forward Jack MARTINEZ / Forward Ronald RAMON / Point Guard Edward SANTANA / Power Forward Edgar SOSA / Point Guard Karl-Anthony TOWNS / Power Forward Eloy VARGAS / Center 210 / 25

198 / 32 185 / 30 193 / 26 186 / 29 201 / 33 197 / 36 201 / 32 182 / 28 203 / 34 185 / 26 211 / 18

Average height: 196 cm; Average age: 29 Coach: Orlando ARTIGIA

FINLAND | PRELIMINARY SQUAD Player / Position Roope AHONEN / Point Guard Samuel HAANPÄÄ / Shooting Guard Shawn HUFF / Shooting Guard Mikko KOIVISTO / Shooting Guard Petteri KOPONEN / Point Guard Tuukka KOTTI / Power Forward Gerald LEE / Power Forward Hanno MÖTTÖLÄ / Power Forward Kimmo MUURINEN / Power Forward Antti NIKKILÄ / Center Erik MURPHY / Forward Teemu RANNIKKO / Point Guard Sasu SALIN / Shooting Guard

Heighs / Age 186 / 24 201 / 27 198 / 30 194 / 27 194 / 26 205 / 33 208 / 26 209 / 37 202 / 33 210 / 35 208 / 23 189 / 33 190 / 23

Average height: 200 cm; Average age: 30 Coach: Henrik DETTMANN

TURKEY | PRELIMINARY SQUAD Player / Position Furkan ALDEMIR / Power Forward Ender ARSLAN / Point Guard Ömer ASIK / Center Dogus BALBAY / Point Guard Birkan BATUK / Shooting Guard Evren BÜKER / Shooting Guard Berkay CANDAN / Power Forward Serhat CETIN / Small Forward Baris ERMIS / Guard Samet GEYIK / Power Forward Kerem GÖNLÜM / Power Forward Sinan GÜLER / Shooting Guard Baris HERSEK / Forward Enes KANTER / Center Melih MAHMUTOGLU / Shooting Guard Cedi OSMAN / Shooting Guard Emir PRELDZIC / Small Forward Oguz SAVAS / Center ` Kerem TUNÇERI / Shooting Guard Mehmet YAGMUR / Guard

Average height: 198 cm; Average age: 26 Coach: Ergin ATAMAN 58 |

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basketball World cup 2014

Heighs / Age 208 / 22 188 / 31 214 / 28 185 / 25 196 / 24 194 / 29 206 / 21 197 / 28 192 / 29 206 / 21 207 / 36 193 / 30 198 / 26 211 / 22 191 / 24 201 / 19 206 / 26 205 / 26 194 / 35 185 / 27

Player to Watch

New Zealand

EVERARD BARTLETT

Player to Watch

Ukraine

VIACHESLAV KRAVTSOV

Player to Watch

KEVIN DURANT

USA

NEW ZEALAND | PRELIMINARY SQUAD Player / Position

Heighs / Age

Thomas ABERCROMBIE / Forward BJ ANTHONY / Forward Everard BARTLETT / Guard Casey FRANK / Forward Jarrod KENNY / Guard I. MAURIOHOOHO LE ‘ AFA / Guard Jordan NGATAI / Forward Nick HORVATH / Center Jack SALT / Forward Reuben TE RANGI / Forward Mika VUKONA / Forward Corey WEBSTER / Guard

198 / 27 198 / 25 198 / 28 203 / 36 188 / 28 178 / 17 201 / 21 208 / 33 206 / 18 201 / 19 193 / 32 189 / 25

Average height: 195cm; Average age: 25 Coach: Nenad VICINIC

UKRAINE | PRELIMINARY SQUAD Player / Position

Heighs / Age

Sergii GLADYR / Shooting Guard Dmytro GLIEBOV / Power Forward Eugene JETER / Point Guard Maxym KORNIYENKO / Power Forward Viacheslav KRAVTSOV / Center Oleksandr LYPOVYY / Shooting Guard Olexandr MISHULA / Point Guard Kyryl NATYAZHKO / Center Artem PUSTOVYI / Center Maksym PUSTOZVONOV / Forward Dmytro ZABIRCHENKO / Guard Ihor ZAYTSEV / Shooting Guard

196 / 25 198 / 25 180 / 30 206 / 27 212 / 26 199 / 22 192 / 22 207 / 23 216 / 22 201 / 27 190 / 30 198 / 23

Average height: 200 cm; Average age: 25 Coach: Mike FRATELLO

USA | PRELIMINARY SQUAD Player / Position

Heighs / Age

LaMarcus ALDRIGDE / Power Forward Bradley BEAL / Shooting Guard Tyson CHANDLER / Center DeMarcus COUSINS / Center Stephen CURRY / Point Guard Anthony DAVIS / Power Forward Andre DRUMMOND / Center Kevin DURANT / Small Forward Kenneth FARIED / Power Forward Paul GEORGE / Small Forward Blake GRIFFIN / Power Forward James HARDEN / Shooting Guard Gordon HAYWARD / Shooting Guard Dwight HOWARD / Center Andre IGUODALA / Small Forward Kyrie IRVING / Point Guard Kyle KORVER / Shooting Guard David LEE / Power Forward Kawhi LEONARD / Small Forward Damian LILLARD / Point Guard Kevin LOVE / Power Forward Derrick ROSE / Point Guard Klay THOMPSON / Shooting Guard Deron WILLIAMS / Point Guard

211 / 28 196 / 21 216 / 31 210 / 23 191 / 26 208 / 21 208 / 20 206 / 25 203 / 24 206 / 24 208 / 25 196 / 24 203 / 24 211 / 28 198 / 30 188 / 22 201 / 33 206 / 31 201 / 23 191 / 24 208 / 25 191 / 25 201 / 24 191 / 30

Average height: 199 cm; Average age: 25 Coach: Mike KRZYZEWSKI

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GROUP

D

Player to Watch

Angola

VALDÉLICIO JOAQUIM

Player to Watch

Australia

RYAN BROEKHOFF

Player to Watch

Korea

JONGKYU KIM

ANGOLA | PRELIMINARY SQUAD Player / Position Felizardo AMBROSIO / Center Milton BARROS / Point Guard Olimpio CIPRIANO / Small Forward Armando COSTA / Point Guard Hermenegildo DOS SANTOS / Point Guard Joaquim GOMES / Forward Valdélicio JOAQUIM / Power Forward Edmir LUCAS / Point Guard Islando MANUEL / Power Forward Eduardo MINGAS / Forward Reggie MOORE / Power Forward Carlos MORAIS / Shooting Guard Edson NDONIEMA / Small Forward

Heighs / Age 201 / 26 183 / 30 192 / 32 192 / 31 192 / 23 202 / 33 209 / 24 188 / 20 192 / 23 196 / 35 203 / 33 193 / 28 191 / 23

Average height: 197 cm; Average age: 28 Coach: Paulo Macedo

AUSTRALIA | PRELIMINARY SQUAD Player / Position David ANDERSEN / Center Cameron BAIRSROW / Forward David BARLOW / Forward Aron BAYNES / Forward Ryan BROEKHOFF / Forward Matthew DELLAVEDOVA / Guard Dante EXUM / Guard Adam GIBSON / Guard Joe INGLES / Small Forward Luke NEVILL / Center Anthony PETRIE / Forward Ben SIMMONS / Forward

Heighs / Age 212 / 34 206 / 23 205 / 30 207 / 27 201 / 23 191 / 23 193 / 18 188 / 27 204 / 26 218 / 28 203 / 31 203 / 17

Average height: 203 cm; Average age: 26 Coach: Andrej LEMANIS

KOREA | PRELIMINARY SQUAD Player / Position Sungmin CHO / Forward Junyong CHOI / Forward Jongkyu KIM / Center Joo-Sung KIM / Center Mingoo KIM / Guard Sunhyung KIM / Guard Tae-Sool KIM / Guard Jonghyun LEE / Center Seung Jun LEE / Forward Seonggon MOON / Forward Donggeun YANG / Guard Ho-young YOON / Forward

Average height: 195 cm; Average age: 27 Coach: Jae Hak YOO 60 |

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Heighs / Age 189 / 30 200 / 20 207 / 23 205 / 34 189 / 23 187 / 26 180 / 29 206 / 20 206 / 36 192 / 21 183 / 32 197 / 30

Player to Watch

Lithuania

DARJUS LAVRINOVIC

Player to Watch

Mexico

GUSTAVO AYON

Player to Watch

ERAZEM LORBEK

Slovenia

LITHUANIA | PRELIMINARY SQUAD Player / Position

Heighs / Age

Tomas DELININKAITIS / Point Guard Robertas JAVTOKAS / Center Mantas KALNIETIS / Point Guard Linas KLEIZA / Power Forward Mindaugas KUZMINSKAS / Power Forward Darjus LAVRINOVIC / Center Ksistof LAVRINOVIC / Center Jonas MACIULIS / Forward Donatas MOTIEJUNAS / Center Martynas POCIUS / Small Forward Renaldas SEIBUTIS / Shooting Guard Jonas VALANCIUNAS / Center

190 / 32 210 / 34 195 / 27 203 / 29 205 / 24 212 / 34 210 / 34 200 / 29 213 / 23 196 / 28 196 / 28 210 / 22

Average height: 203 cm; Average age: 29 Coach: Jonas KAZLAUSKAS

MEXICO | PRELIMINARY SQUAD Player / Position

Heighs / Age

Noe ALONZO / Power Forward Gustavo AYON / Center Fernando BENITEZ / Power Forward Jesus GONZALEZ / Small Forward Jorge GUTIERREZ / Point Guard Jovan HARRIS / Shooting Guard Héctor HERNÁNDEZ / Power Forward Roman MARTINEZ / Small Forward Lorenzo MATA / Power Forward Orlando MENDEZ / Shooting Guard Pedro MEZA / Point Guard Paul STOLL / Point Guard

200 / 30 206 / 29 204 / 24 195 / 27 190 / 25 192 / 33 205 / 29 197 / 26 203 / 28 182 / 28 182 / 28 178 / 28

Average height:194 cm; Average age: 28 Coach: Sergio VALDEOLMILLOS MORENO

SLOVENIA | PRELIMINARY SQUAD Player / Position

Heighs / Age

Jure BALAZIC / Power Forward Jaka BLAZIC / Guard Goran DRAGIC / Point Guard Zoran DRAGIC / Shooting Guard Jaka KLOBUCAR / Guard Domen LORBEK / Guard Erazem LORBEK / Power Forward Edo MURIC / Small Forward Alen OMIC / Center Klemen PREPELIC / Shooting Guard Uros SLOKAR / Power Forward Miha ZUPAN / Power Forward Luka LAPORNIK / Shooting Guard Matej ROJC / Point guard Mitja NIKOLIC / Small Forward

204 / 33 196 / 24 190 / 28 196 / 25 197 / 26 196 / 29 209 / 30 202 / 22 218 / 22 189 / 21 209 / 31 204 / 31 195 / 25 198 / 21 204 / 23

Average height: 201 cm; Average age: 27 Coach: Jure ZDOVC

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COFFEE

■ By Dalibor ŽIVANOVIĆ

Serbia's

FAVOURITE FRUIT For years Serbia has been ranked among the top ten countries in the world in terms of the amount of coffee consumed per capita. With an average of drinking about three decilitres of coffee per capita per day, Serbia is by far the top in the region, even ahead of BosniaHerzegovina, whose residents are considered here as liking to “kafenišu” (group caffeine consumption). Given that coffee is actually a fruit, then we could say the Serbs are big fans of healthy living

T

lower percentage of Robusta. The presence of Robusta gives cofraditional coffee is still sacrosanct in Serbia. Between 85 and 90 per cent of coffee sold on the market is so-called fee strength, but the espresso foam is also far richer if the cofTurkish coffee. This coffee is typically a mix of Arabica fee contains Robusta – and espresso without foam is simply not and Robusta beans. The percentage of these beans is good espresso. usually not displayed on the packaging by the manufacturer.

Arabica is a higher quality type of coffee. It covers 80 per cent The Serbian coffee market is mainly divided between two maof world production. This coffee actually contains half as much caffeine of Robusta: Arabica contains 1.5 per cent caffeine, while jor domestic manufacturers who together control more than 75 Robusta has 2.7 per cent of the stimulating substance. per cent of sales. Other manufacturers are in the background, esArabica coffee has a rich, fine flavour and less acidity in the bean, pecially when it comes to selling traditional domestic coffee. which is why it is considered a superior and better quality coffee.

Perhaps the fact that more than 85 per cent of the coffee What is less known is the fact that the plant itself is categomarket in Serbia belongs to traditional coffee is somewhat surprising if one takes into account that at rised as a fruit. Coffee beans are typibetter cafes in most towns in Serbia it Enjoyment can often go too cally found in the flesh of berries growis practically impossible to order tradiing on the coffee tree. These berries far here, so drinking coffee can be eaten like any other berries and tional coffee nowadays. Most of them can become an all-day each fruit contains two beans, occahave espresso makers, which they also gathering in no time. The use to prepare cappuccino, macchiato, sionally three. latte and other coffees that have esAccording to legend, coffee was first more company - the better revealed to man by goats back in the presso as their base. ninth century. Ethiopian shepherd Kaldi noticed his goats behavOur coffee-drinkers, as a rule, prefer over roasted coffee with a high content of Robusta. All our mixtures are like that. On their webing strangely and that they were “too lively”. He soon determined that the goats were chewing the berries of a shrub, so he tried sites, domestic manufacturers claim to import high-quality Arabica them out himself. This plant turned out to be coffee. and Robusta beans. Compared to coffee that can be purchased in Regardless of the truth, today coffee is the second best sellthe West, Serbian coffee has a sharper taste that reaches the borders of acidity. This indicates the increased presence of Robusta. ing product in the world, behind oil. The largest coffee producer Robusta is a type of coffee that’s also used in so-called esis Brazil, which is also the largest exporter of Arabica in the world.

Serbian coffee manufacturers import their Arabica mainly from presso blends. This is not only the case in Serbia. In Italy, for exBrazil, while Robusta is brought mainly from Vietnam and India. ample, particularly in the south, people like to drink espresso that Drinking coffee in Serbia does not imply a quickly brewed and is not made only from Arabica beans, but rather also contains a cordeditorial@cma.rs |

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hastily drank beverage. This is primarily a ritual that begins with ly sweeten the water because, as a rule, sugar is not subsequently the very act of preparing the coffee. Coffee is drunk in Serbia aladded to traditional coffee because it stirs up the sediment.

When the water boils, remove the coffee pot from the stove ways and in all circumstances, and it is considered basic courtesy and pour a little boiling water in a prepared cup. Then add to the to first offer a cup of coffee when a visitor arrives. pot two teaspoons of ground coffee for every cup you wish to This is typically traditional, or Turkish, coffee, which Serbs premake. This does is for lovers of slightly stronger coffee, but you fer to call domestic or Serbian coffee. This coffee is made virtualcan optionally add less ground coffee if you prefer yours weaker. ly the same way in all Balkan countries and has a different name Stir the coffee in the pot and leave for a few second to allow the almost everywhere. Because of the known animosity between the coffee to come to the boil. two peoples, the same coffee in Greece is called Greek, while in Afterwards the water transferred to the cup is returned to the Bosnia it is, of course, Bosnian coffee. boiling pot of coffee and the beverage is Some would justify a different name ready for serving. Some lovin the slight differences to be found in the preparation ers of traditional coffee premethods. For instance, in fer the coffee to be brought Turkey the coffee is added to to the boil in the pot two or the pot directly with the cold three times before being water, while in this region served. Traditionally, this cofcoffee is only added once fee is sweetened, especially the water comes to the boil. in Bosnia and Turkey, where Differences in taste, however, two teaspoons of sugar are do not exist. This is the same added for each cup, though coffee, but everyone seems everything depends on taste. to prefer it to be named after Serving this coffee is altheir country. so part of a ritual. It is conAlmost all coffee drinksidered good practice to offer Turkish Delight when servers in Serbia began enjoying this habit with Turkish coffee. ing traditional coffee. This is This is especially true for the an almost unavoidable detail older generation, since there in neighbouring Bosnia too. was previously no access to This method of serving cofFor foreigners in Serbia any other type of coffee. Espresso, infee is still practiced in the old kafana there is generally a lack taverns of Belgrade. stant coffee and other “innovations” onNow you are ready to enjoy proper ly came later. of choice when it comes domestic coffee. However, it is imporWhen you invite someone for cofto coffee. Our market is fee, it often means much more than tant to remember that coffee has “an mostly flooded with coffees even better taste” if you drink with oththat. Drinking coffee in this region can designed for traditional take hours. For foreigners coming to ers. So to complete the atmosphere it Belgrade for the first time, scenes of all is always nice when you are in the compreparation methods and cafés almost always full at any time of pany of loved ones and can really enjoy instant coffees the day, during working hours, seems alyour coffee even more.

Alongside coffee, as a rule, there is most surreal. Because of that it is also always some laidback story, the recounting of funny adventures, often asked: when do you people actually work? but coffee is also often accompanied by deal making and problem Enjoyment can often go too far here, so drinking coffee can solving. All of this, of course, is not a rule, but it makes drinking become an all-day gathering in no time. The more company coffee sweeter. That’s why an integral part of the ritual of drinkthe better.

Preparing traditional coffee requires a Jezva coffee pot, made ing coffee is also enjoying it. specifically for preparing coffee and possessed by every houseCoffee in this region is enjoyed slowly, sampled with every sip.

Most coffee drinkers do not like to drink cold coffee, but there are hold in Serbia, and, of course, ground coffee, typically a mix of those who first wait for the coffee to cool.

Robusta and Arabica. This coffee tastes best if it is ground just One of the rituals that goes along with Turkish coffee is readprior to preparation, which is why almost every household in Serbia used to have a handheld brass mill. Today this is very raing the cup. Although it is not really considered decent manners to flip over the cup when you go to someone’s house for cofre, as all manufacturers sell pre-ground coffee in vacuum packs.

The actual process of preparing coffee is simple. Fill the pot fee, this custom continues to this day, though to a lesser extent with as much water as you need for the cups required and place on than previously. the stove. If you drink sweet coffee, it is preferential to immediateReading the cup, or making predictions based on apparent im64 |

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ages in the coffee grounds, falls primarily into women’s customs traditional coffee, which is primarily a result of serving lower volin this region. For some this custom is an integral part of the enumes. The average espresso is 30 millilitres, while domestic coffee is consumed in cup containing more than a decilitre. joyment of coffee, almost as inevitable as gossip.

Furthermore, for espresso, cappuccino, macchiato and other As the Turkish coffee is sipped slowly, for smokers with an incoffee drinks with espresso as their base, it is necessary to be evitable cigarette, perhaps that’s the reason you will rarely find a able to prepare the beverage correctly. It is therefore not surprisSerbian home that offers guests an espresso. Espresso is a coffee that is drunk “in three hits” and served in special espresso cups. ing that most people in Serbia decide to drink this type of coffee Although this coffee is of a higher quality than traditional doin cafés, believing primarily in the skills of the staff.

Instant coffee has become increasingly popular in recent years mestic coffee, because it is normally made from coffee containing as a beverage prepared at home. Although its price is higher than a higher percentage of Arabica, it is not practical for home preplocal coffee, younger coffee drinkers often aration. Why? Primarily due to the small opt for the freeze-dried verserving portions. Espresso is a coffee that one can drink in sion. Instant coffee is often two minutes, which leaves no shortened in Serbia to simply room for all those things that “nes”, after the best known we associate with drinking brand in this segment. coffee, i.e. conversation and A large number of mancaffeine intake. ufacturers of instant cofThe second important fee have appeared on the factor is that the equipment Serbian market in the last for the preparation of espresten years. Most of them ofso coffee is rather expenfer ready-made packages in sachets containing powdered sive. For this type of coffee milk and sugar or various adyou need to have a good mill, which is not cheap. Whatever ditions. These are the popular kind of espresso machine you two-in-one, three-in-one and have, it will not forgive badly other versions of instant cofground coffee, or if the coffee fee. Today most local manuis not fresh. Moreover, every facturers have instant coffee decent espresso machine is in their offer.

Coffee in this region is quite expensive for our conditions.

Coffee granules comprise five per cent enjoyed slowly, sampled There is another important issue – esof the Serbian coffee market. It is evident with every sip. Most that producers are striving to increase presso coffee is more expensive than traditional coffee. Espresso coffee is better coffee drinkers do not like this segment of their sales through variquality, and higher quality entails higher ous innovations, so that more and more to drink cold coffee, but costs. For espresso it is important that the shop shelves are occupied by different vathere are those who first coffee is fresh, so it is best to buy from a rieties of instant coffee. wait for the coffee to cool local roaster. If, however, you do opt for a Almost every retail chain has its own pre-packed coffee for espresso from dobrand of this kind of coffee.

Most foreigners in Serbia are not used to the traditional domestic and foreign manufacturers, the costs of this pleasure are much higher than when buying pre-packed domestic coffee. mestic coffee. For them, it is either too acidic or too strong. That Many people in Serbia hold the mistaken belief that espresso is unless, of course, they come from Greece, Turkey or any other coffee is too strong. This is wrong given that one cup of esprescountry where such coffee is also popular. ■

so contains three times less caffeine than a cup of the popular The author is editor of www.kafomanija.com

Coffee – Historical Consequences • In 1675 Charles II, King of England, issued a proclamation banning Coffee Houses. He stated Coffee Houses were places where people met to plot against him. -- By the way, both the American Revolution and the French Revolution were plotted in coffee houses.

• Melitta Bentz, a housewife from Dresden, Germany, invented the first coffee filter in 1908.

• In 1822, the first espresso machine was made in France.

• In 1933, Dr Ernest Illy invented the first automatic espresso machine.

cordeditorial@cma.rs |

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CHILL OUT

Lightning Strikes Empire State Building Thunder shook New York City one evening mid last month and one talented photographer managed to capture the spectacular moment when a bolt of lightning struck the iconic Empire State Building.

William Anderson captured the photo with an iPhone 5s from a 40th floor balcony in Manhattan’s Hell’s Kitchen neighbourhood and posted it to Instagram (@thewilliamanderson). The striking shot proves once again that some of the world’s most beautiful photos can come from the smartphone in your pocket

Chinese Millionaire Holds Lunch for Homeless New Yorkers Chen Guangbiao, a wealthy Chinese businessman who once tried to buy the New York Times, offered a free lunch of seared tuna and filet mignon to several hundred homeless New Yorkers at a swank Central Park restaurant.

Several hundred people showed up for the lunch and Chen entertained them by singing “We Are the World,” the 1985 hit charity song to raise funds for African famine relief.

Diners were seated around dozens of circular tables covered with white table cloths and set with china and fine cutlery in the banquet room of the Loeb Boathouse, backdrop for television shows including “Sex and the City.”

Chris Weber, 38, said he heard about the event at the New York City Rescue Mission - a homeless shelter that helped organise the event and where he sometimes receive free dinners. He said he enjoyed the lunch but found it “a little propaganda-y.”

Chen, 46, had tried this year to buy the New York Times, but the Ochs-Sulzberger family, which has owned the newspaper for generations, said it was not for sale.

Strange Demands of the World Cup Teams The FIFA World Cup was a really big deal and really big deals came with really big (and weird) demands. France, for example, required that the soap in all rooms be liquid soap, not bar soap. Portugal needed six bodyguards, but four of them were just for Cristiano Ronaldo.

Algeria required all rooms for players and team officials have a Koran, while Australia insisted that there must be a coffee station for players, and that this station should be stocked with newspapers from around the world.

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Chile: Every room must have a new bed and new TVs and Sao Paulo FC must provide Colombia with 15 players from their youth team for the Cafeteros to practice against.

Ecuador: Every day there had to be a basket of bananas in every room and the

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bananas had to be from Ecuador. On the other side, Honduras wanted six Spanish TV stations to be added to their TV guides, including two Honduran channels.

Japan demanded that every room must have a jacuzzi tub and Switzerland insisted that a beach studio be built for the team to conduct TV interviews. Every room also had to have two Swiss TV channels added to its list of available programming.

Uruguay: All rooms had to have a completely silent air conditioner.

France, Ecuador and Costa Rica all required the construction of a video games room, while Portugal demanded that every room have video games within.

Harry Potter Fans Recreate Hogwarts for their Themed Wedding

Two massive Harry Potter fans spent nine months and a staggering €25,000 in order to create a magical Hogwarts themed wedding, complete with 100 wands for each of their guests.

Zoe Howe, 25, from Telford, Shropshire, UK, married Alex Pitas, 26, from Wisconsin, U.S., in a spectacular homemade wedding, after nine years together.

The couple spent every evening for nine months creating the handmade touches which would make their Harry Potter themed wedding authentic. The couple crafted 100 handmade wands for each of their guests, out of paper, hot glue and

paint and bought potion bottles off Ebay, which they filled with glitter and food colouring.

The guests were seated at different tables named after the Hogwarts’ houses, Gryffindor, Ravenclaw, Hufflepuff and Slytherin, with additional tables for J.K Rowling’s characters, the evil Death Eaters and heroic Order of the Phoenix.

Their cake was a Sorting Hat, while each table was decorated with vases of foraged wood, sporting tiny antique keys and homemade golden snitches dangling off the branches.

“I am so pleased with how everything turned out - it wasn’t tacky and felt magical”, Zoe said.

Students' Gadgets 'Worth €3,500' Students are taking thousands of euros worth of gadgets to university with them as they become increasingly reliant on technology for study and leisure, a poll suggests.

The new survey indicates a rise in students owning the latest devices, with smartphones and tablets growing in popularity.

It shows that 92% of those questioned said that they own a laptop, up from 81% last year, whilst 91% have a smartphone, compared with 87% in 2013.

Dracula’s Castle for Sale

The proportion who own a tablet has nearly doubled in the last 12 months, going from 23% to 40% this year.

The annual poll, published by insurance firm Endsleigh, concludes that the average value of a student’s possessions now stands at €5,600, with their gadgets alone worth around €3,500 on average.

It also shows that many students could not live without their mobile phone, with around 40% of the more than 2,000 people questioned saying that if they lost or damaged it, they would want it replaced within 24 hours.

The online survey questioned 2,128 university students in the UK in April and May.

Bran Castle, a 12th century fortress, is a popular tourist destination thanks largely to its most famous (but fictional) resident, Count Dracula. The current owners, however, are getting older and hope to hand over the reins to a Dracula- and history-loving visionary who can breathe new life into the place.

In real life, the castle has been home to Saxons, Hungarians and Teutonic knights, the Telegraph reports, and, perhaps, to the infamous Vlad the Impaler (Dracula’s inspiration), who might have been briefly held prisoner there in the 15th century. Eventually Bran Castle fell into the hands of Romania’s royal family and was seized by the government in 1958. When the Ceausescu regime fell, the buiding once again came into possession of the remaining royal heirs.

Now well into their 70s, however, the owners are looking for a buyer who will continue their vision of maintaining and growing “the largest and most significant attraction in Romania.” The New York City-based law firm that’s handling the sale hasn’t publicly revealed the asking price, but rumour has it that the Romanian government had the first right of refusal, at a price tag of $80 million. cordeditorial@cma.rs |

118 August 2014 | 67

GADGETS

WORLD’S MOST EXPENSIVE

GADGETS

Gadgets have become an essential part of our daily life. In this technologically driven world there are many new and innovative gadgets introduced every year to make life easier for people, while these are also the symbols of luxury, flaunted by the rich people who pay hefty sum to possess these gadgets. The fetish for it never stops and people always look forward to upgrading to a better one. Here are some of the most outrageously expensive gadgets.

iPhone 5 Black Diamond PRICE: €11,000,000 A Chinese businessman, the owner of the black diamond, contacted Stuart Hughes about his gold iPhone and commissioned the handset. Stuart Hughes, known for designing luxury Apple devices, has created the most expensive iPhone 5, embedded with a rare black diamond covered in precious metals and encrusted with rare stones, it contains about 135 grams of 24 carat gold and a sapphire glass set in the screen. The back also has the Apple logo made from 53 flawless diamonds. It took nine weeks to recreate the structure of the iPhone 5 in solid gold, and the complete handset has been finished by hand.

Steinway Lyngdorf Model LS Concert Speakers PRICE: €183,000 A gadget that is truly expensive and exclusive, it is priced at $250,000. The Steinway Lyngdorf Model LS Concert speakers are 8 feet tall and 16 inches wide, made of super thin bungee cords instead of the commonly used cloth grille. Each speaker has a glossy piano black side and all eight AMT tweeters are rounded by 24carat gold.

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Gold iPad Supreme PRICE: €140,000 This gadget is certainly an exclusive item, with just 10 units in existence. This is the cheapest of all luxury iPads, priced at just €140,000.

The back panel and bezel of this product are made using a single piece of 22 carat gold weighing 2.1kg and feature 25 carat diamonds.

The Apple logo on the back has been formed by 53 diamonds weighing 22 carats.

Nintendo Wii Supreme PRICE: €365,000 This gadget is unique and exclusive. Even though this product in its orgiainl form has now been discontinued, Stuart Hughes redesigned a special Wii Supreme for active gamers. The device is made using 22 carat gold and weighs over 2.5 Kg. It took a total of six months to craft one product. The front buttons are made using 78x0.25-carat flawless diamonds, weighing a total of 19 carats. The company has built only three units, each priced at €365,000.

Deluxe Cellphone PRICE: €7,250 - €42,000 Danish luxury phone brand Aesir Copenhagen and San Francisco-based Yves Béhar have unveiled a new mobile phone. In this era filled with smart phones offeirng marvellous omnipotent functions, this mobile phone seems a bit monotonous, as it’s just a phone – no camera with millions of pixels and no popular GPS, no funny games or Gmail. The only things that +YvesBéhar can provide are clarity, simplicity and top design. This precious mobile phone is available in 18K gold version and another version of stunning stainless steel with a ceramic top.

Diamond BlackBerry Amosu Curva

Hart Audio D&W Aural Pleasure loudspeakers

PRICE: €176,000

PRICE: €3,454,000

Alexander Amosu, who is a famous British luxury product designer, has created the Diamond edition BlackBerry Curve 8900 priced at €176,000. The smartphone’s body is made using 18 carat gold and is crafted with 4,459 diamonds weighing 28 carats on front and back. The company has designed only 3 units, which took them 350 hours.

They are the latest creations of Hart Audio and probably the most expensive speaker in the world priced at €3,454,000, there is only one pair available in the world, which is made of 18-carat gold. The company has also built five units of silver speakers for €230,000 and 99 units of solid phosphor bronze speakers, which are priced at €46,200 for each.

Macbook Air Supreme Platinum Edition PRICE: €365,000 Apple’s products are most loved by luxury designers. Stuart Hughes has designed the Apple MacBook Air using platinum. Weighing 7kg, only five units are available across the world.

The company hasn’t embedded any diamonds or sapphires, though it is priced at approximately €365,000.

cordeditorial@cma.rs |

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HOLIDAY HABITS

Upgrade Your

EVERYDAY LIFE

A

day after you were relaxing on a legendary beach somewhere, you’re likely finding yourself getting up early, trying to keep your cool in a traffic jam on the way to work, eating a poorquality lunch on the run, then back to work at a job you don’t enjoy until dinner, before finally crashing in front of the television and feeling miserable for the rest of the evening. Then you repeat the entire process again. When you’re on a healthy holiday, keep an eye out for the positive habits you pick up and try to keep with them all year. When you’re having fun and doing things you enjoy, you’ll pick up good habits without barely noticing them. When you incorporate these into your regular life, you’ll thank yourself for it and those who are closest to you will also appreciate the new version of you.

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Going on holiday can often be your favourite time of the year. You’re filling each day with fun activities, exploring new sights, eating new and exciting food and just generally having a good time. Whether it's a few daytrips around your city, state or province, a relaxing visit to an all-inclusive resort or a challenging, exciting trip backpacking across Europe, each day's schedule is likely to be brimming with things you'll remember for years to come. But when you get back home, it’s easy to slip back into old, mundane and bad habits

118 August 2014 | www.cordmagazine.com

Be Spontaneous Whether it’s something exhilarating and dangerous, like hang-gliding off a really high cliff or a bold food choice, you may find yourself more spontaneous away from home. Spontaneity breathes new life into your everyday routine, opening doors and giving you a chance to meet new people and find a new hobby. Think of the possibilities 12 months of the year instead of just two weeks. Despite your busy schedule, take the time to try something new once a week. And be open when others suggest something spontaneous, too. Instead of automatically shooting down new ideas, give them a shot.

Chill Out It takes a lot to ruin a holiday because it is, after all, a break. You’re almost automatically in a good mood and willing to let things roll off your back. So why are you flipping out at someone who cuts in front of you on the way home from the airport? A week earlier, a server may have tripped and dumped an entire tray of drinks on your table, but you shrugged it off with a laugh because you were in full chill mode on your holiday. Like you do when you’re on holiday, learn to dial things back a little the rest of the year. You’ll feel better, and those around you will too.

Be Romantic If you’re away with your spouse or partner, you might find the holiday mood gives you more time for romance and intimacy. Back at home, however, it’s a different story as you’re rushing to and from work, running errands on the weekend and trying to get to the gym twice a week. Suddenly, the romance that was part of the daily routine during your holiday has fallen by the wayside. Perhaps a step back is in order, one into the romantic vibe you were feeling when you were away. Put the run-run-run attitude on hold. Your significant other will thank you.

Get More Sleep There are arguments to be made for and against sleeping in, but for this purpose we’re not advocating sleeping until noon every Saturday and wasting half the day. Instead, try to get to bed a little earlier each weeknight and give yourself one weekend morning to sleep in an extra hour.

Doing so gives your body the rest it requires and can help you feel less irritable and overcome illnesses quicker. Getting an extra hour’s sleep also means fewer cups of coffee and caffeine side-effects, plus you’ll be more energised around the office. cordeditorial@cma.rs |

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Walk There’s a reason you often pack a pair of crosstrainers when you’re on holiday: you end up walking everywhere. Whether it’s the overwhelming desire to avoid sitting in a vehicle, explore or simply take a slower-paced approach, summer breaks are often rife with aerobic exercise. When you get back home, think about your everyday actions and how you can walk a little more. Can you take a short walk every evening after dinner? Walk to a bus stop instead of getting dropped off? Or can you park a bit further away from your workplace and give yourself a couple of extra minutes of fresh air and walking each day? If the answer is yes, try to walk some more and refresh your routine.

Trying New Food While away from home you may be more likely to be an adventurous eater, trying new and underrated cuisines with regularity. But when you get back into your own kitchen it’s easy to fall into the chicken-one-night, beef-thenext routine. Instead, allow yourself to be inspired by the new food you try on holiday, then visit a bookshop or surf the internet and learn how to cook similar types of meals.

Relax And Breathe While you’re on holiday you’re not afraid to take a deep breath, feel calm and enjoy a massage at your hotel or resort spa. Learning to relax -- even through the simple act of breathing -- can have health benefits, but it also just feels good. Incorporating a monthly massage into life at home can help you unwind, and remembering to breathe in tense situations will also keep you calmer.

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Do Things You Enjoy Holiday breaks are typically full of entertaining activities -- a typical holiday in a resort town may include swimming, lounging on the beach, golf, eating and drinking, and a daytrip. What’s missing from this list? Things you don’t enjoy doing. When you get back home, strive to add more pleasurable activities to your day. You don’t have to cut out the less-thrilling ones, too, but doing at least one activity you enjoy daily will give you a break from the more monotonous parts of your day.

Enjoy The Scenery Have you ever noticed that when you drive somewhere regularly you’re hardly aware of your surroundings? Or that as soon as you find yourself on a new road, you’re enjoying looking out the window? New scenery can be thrilling when you’re on holiday, but remember to also enjoy the simple things when you’re back home. If you live in a picturesque area, take the time to get out and explore it more often.

When you’re away from home, it’s easy to splurge on yourself. Often you may say, “Well, I’m on holiday,” then buy yourself that new wardrobe or recreational item that you’ve had your eye on. Return home, however, and you’ll list off reasons why you shouldn’t. We’re not advocating reckless spending, but there’s something satisfying about treating yourself every now and then. When you see something you want, balance splurging and practicality by putting a little money aside until you can justify the expense. Then spoil yourself a little. cordeditorial@cma.rs |

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Source: www.askmen.com

Treat Yourself

FASHION

Last Minute S Summer Shopping

ome people plan their summer holiday months in advance. But there are also those for whom the opportunity only arises at the last minute to travel somewhere and spend 10-15 days forgetting their daily obligations and relaxing from the hot tarmac, waiting at traffic lights and work commitments.

If you’ve just decided in the last few days that you will go somewhere out of town on holiday after all, you will certainly need a few items of clothing in order to quickly renew last year’s wardrobe for the beach or evenings out. The good news is that these days you can find bargain summer clothing reductions at every step, the bad news is that you don’t have much time to choose.

So, here's a quick few details and ideas about how you can most effectively and cheaply fill your wardrobe and look like you’ve spent months preparing for the opportunity to strut your stuff on some plaža.

Red Triangle Bikini Fashionable bikini in a sweet red shade with a halterneck top with wide straps that curve around the neck.

Animal Print Maxi Dress This creation from Maxi Dress Collection features contrasting adjustable straps and side-tuck detailing at the hem and back pocket.

PRICE:

€39 PRICE:

€68

PRICE:

€109

Stripe Nylon Shopper Braided leather straps and swinging side ties refine a durable shopper tote wrapped in smart stripes. A spacious interior offers up a street-chic fusion of style and practicality.

PRICE:

€18

Bangle Bracelets (set of 20)

Speaking of pop of colour, use these great bangles to accessorise summer outfits. They come in black, teal, turquoise and white.

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Crochet One-Piece Swimsuit

Green Leaf Print Maxi Dress Another maxi dress in a bold leaf print which has been crafted from a cool chiffon material that drapes to create some fabulous clean lines.

Twin straps span and emphasise the plunging neckline, while the deep back shows off your tan.

Mango Handle Bag This nautical denim bag will look cool with summer whites.

PRICE:

€31

PRICE:

PRICE:

€86

€224

PRICE:

€61

Tibi Ibis Cami Top Tibi’s signature camisole gets a new season makeover in the Ibis Cami Top.

Stripe Convertible Cover-Up Dress

PRICE:

€27

An adjustable tie gives a coolly striped cover-up the versatility to go beyond the beach as an ultra-long skirt with a sash at the waist or as a dress that can be worn either strapless or halter-like.

PRICE:

€115

Metallic Stripe Halter Bikini Top

PRICE:

€62

Sun-catching metallic stripes add head-turning appeal to a knotted, keyhole-centred bikini top that flatters a variety of figures.

One-Piece Swimsuit Look 5 kilograms lighter in 10 seconds! Flattering gathers enhance the slimming effects of the Miratex fabric that sculpts shapely curves and smoothes away trouble spots.

cordeditorial@cma.rs |

118 August 2014 | 75

FOR HIM

Rose Gold Canvas Strap Watch PRICE:

€200

PRICE:

€210

Round face with contrast indices, single crown to side, water resistant to 30 metres.

'Moorea' Shrimp Print Swim Trunks

Prada Sunglasses Jack & Jones Cargo Shorts Made from pure 100% cotton, button fastening with concealed fly, side slant front pockets.

Logo-embellished temples define dashing Italian-crafted sunglasses fitted with gradient lenses.

PRICE:

€56 PRICE:

Vilebrequin Swim Trunks Mesh-lined, quick-drying swim trunks in fresh solid colours style these pool-side essentials.

€18

Houndstooth Duffel Bag A distinguished houndstooth pattern defines a classic duffel designed with double carrying handles.

PRICE:

€55

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118 August 2014 | www.cordmagazine.com

€168

A soft cotton mesh lines these classic, quick-drying swim trunks patterned in a colourful contrast shrimp print.

Toiletry Case An internal mesh organiser and exterior zip pocket provide convenient extra storage to a rugged, leatherdetailed toiletry case lined in signature.

PRICE:

PRICE:

€135

Denim Shorts Adjustable elasticised waistband and zip fly.

PRICE:

€14

Twill Pants Slim fit PRICE:

Slim legs, adjustable elasticised waistband and zip fly.

€23

Pocket T-Shirt

PRICE:

€11

Colour-blocked stripes enhance the easy going vibe of a supersoft cotton T-shirt accented with a contrast chest pocket.

Stripe Romper A smocked neckline and patch pockets further the casual comfort of a cheerful striped romper.

Two-Piece Swimsuit Electric neon accents edge a retro-vibe snake-print swimsuit with a flutter top and adjustable cross-back tie.

PRICE:

Wash Shortalls Artful distressing and frayed, rawedge hems relax denim shortalls rinsed in a retro acid wash.

€64

PRICE:

€36

T-shirt

Classic - Tiny' Slip-On Classic canvas shapes a signature slip-on with elastic goring for an easy fit.

PRICE:

T-shirt in jersey with a printed design at front.

€23

PRICE:

€14

Waterproof Sandal A lightweight, versatile sandal is ready for action on land or sea with a water-repellent mesh lining and a durable, traction-enhancing rubber sole.

PRICE:

€ 40

cordeditorial@cma.rs |

118 August 2014 | 77

SOCIAL MEDIA

Twitter’s latest big idea:

Focus on the Small Talk The World Cup is now over, but people are Tweeting about everyday life

W

ith a record 35 million Tweets during Germany’s 7-1 to be “always on” and ready to create Promoted Tweets in order to demolition of Brazil, and a total of 672 million Tweets engage people during such moments. across the event, Twitter had a storming World Cup. Twitter UK’s researcher Matt Taylor says: “If you think about an Providing an engaging second screen for record TV everyday moment, you’ve got a kind of emotional headroom that viewing, many brands made an impact too, such as the amusing you can play with there. If you take an everyday moment and delivSpecsavers Promoted Tweet about Luis Suárez taking a bite out of er interesting, exciting, original content, you can elevate that – you Giorgio Chiellini, which got 30,000 retweets. can bring a moment of delight.

The social media site has heavily pushed the idea that brands “Commuting is the second-most-popular topic of conversation can join in with mega-events such as the World Cup, the Oscars or for British people, after the weather. It happens with amazing regthe Super Bowl, running Promoted Tweets that catch people in a ularity; it is something that brands can plan for, tap into and target heightened emotional state. in different ways.”

Twitter has heavily pushed But as Tim Pritchard, the head of soThis might offer opportunities for cial media at Manning Gottlieb OMD, says, brands, but relevancy remains parathe idea that brands can this can end up being like “11 men chasmount. The MediaCom associate direcjoin in with mega-events ing the ball” as dozens of brands get intor of digital strategy Tom Saunter says it such as the World Cup, the makes sense for brands to run Promoted volved, pushing up the price of keywords Oscars or the Super Bowl, and struggling for relevance. “We are all Tweets during everyday moments “where bidding on the same terms,” he says. “It a brand isn’t looking for scale”, but adds: running Promoted Tweets works well for Twitter if every­body gath“Brands in this situation need to be truthat catch people in a ers around at the same time because the ly relevant as it is easier than ever for the heightened emotional state association to be lost.” prices go up. Our job as media agencies is to push back.”

Jam’s head of planning, Iain Matthews, says the “always-on apTwitter has now started to promote the idea that brands can proach” for brands on “the mobile thing” is “compelling”. He notes connect with consumers beyond the big events by tapping into that instead of paying for a 24-hour social media “war room”, agen“everyday moments”, those ordinary conversations about, say, the cies can prepare Tweets – a beer brand knows 5pm on a Friday weather or commuting. might be a good time to run a Promoted Tweet as this is when many Last month , the platform launched an online tool that enables of its target market will be preparing to go to the pub. brands to monitor, on a map of Britain, the conversations that are Promoting themselves around day-to-day moments will cerhappening at different times of the day and week. For instance, tainly be much cheaper for brands than doing so around a World the map lights up around London on weekday mornings showing a Cup, but the effectiveness of targeting these largely banal converSource: campaignlive.co.uk spike in Tweets about commuting. Twitter argues that brands need sations remains to be seen. ■ 78 |

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