Issuu

Ambassador of India to Serbia

H.E. AMR ALJOWAILY

Are We Facing A New Decade of Reform?

Rich History, Bright Future

Deputy Prime Minister and Minister of Construction, Transport and Infrastructure

www.cordmagazine.com

Sharing Common Views

ZORANA MIHAJLOVIĆ PH.D.

Ambassador of Egypt to Serbia

JANUARY 2019/ ISSUE NO. 171

H.E. SUBRATA BHATTACHARJEE

interviews opinions news comments events

Exclusive

DEJAN SAVIĆ

783002 771451 9

Guardian Of Sport’s Culture

ISSN1451-7833

HEAD COACH OF THE SERBIA MEN’S NATIONAL WATER POLO TEAM

CONTENTS

COMMENT

TANJA JAKOBI

PLAYFUL STATISTICS Serbia has to date failed to address the issue of slow growth. As such, any prognosis of economic growth in 2019 depends much more on the question of whether the government will, finally, truly embrace reforms, than it does on metrics. As long as statistics are dressed to impress, the 3.5% growth estimated for 2019 will be presented as continuous success, despite meaning stagnation in reality

10 GUARDIAN OF SPORT’S CULTURE

DEJAN SAVIĆ Head Coach of the Serbia men’s national water polo team

24 WHEN CAN WE EXPECT THE FIRST SERBIAN UNICORN FOCUS: Start-ups

30 RESOLUTIONS FOR THE MOST SUCCESSFUL YEAR

52 FACES & PLACES 55 WE’RE LIVING IN TECH-NOIR

MILORAD MILINKOVIĆ Director, screenwriter, quiz show Chaser, football commentator

FEATURE

31 BUSINESS DIALOGUE

16 RICH HISTORY, BRIGHT FUTURE

44 FROM DISHWASHER TO BILLIONAIRE SHAHID KHAN

H.E. AMR ALJOWAILY Ambassador of Egypt to Serbia

60 CHILL OUT 62 THE TIME FOR SKIING HAS ARRIVED! FASHION

20 GLOBAL DIARY @CORD_MAGAZINE

@CORDMAGAZINE

22 MALAISE IN CULTURE ALEKSANDAR KONTIĆ Psychoanalyst

47 PIONEER IN EXPRESS PARCEL DELIVERIES LJILJANA KARAKLAJIĆ Owner and director of enterprise “D Express”, Belgrade

48 ART WITHOUT LIMITS GLASS ART

64 CULTURE CALENDAR 66 AFTER WORK

CORD MAGAZINE

EDITOR IN CHIEF: Miroslava Nešić-Bikić m.bikic@aim.rs DESIGNER: Jasmina Laković j.lakovic@aim.rs CONTRIBUTORS: Rob Dugdale, Maja Vukadinović,

January

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Comment

Playful

Statistics

TANJA JAKOBI

ECONOMIC JOURNALIST AND MEDIA ANALYST

n one largely forgotten episode from the height of the democratic changes in October 2000, a large group of demonstrators against then Serbian President Slobodan Milošević surrounded the Federal Bureau of Statistics. A window suddenly opened and somebody threw a floppy disc containing the entire voting list (presumably) an incredibly valuable source of information in the case of election fraud. Another less remembered episode from that time saw the Bureau roundly mocked for what the public and local economic experts believed to be its production of the “rosy numbers” demanded by the Government. Many of today’s leading Serbian experts, including members of the Fiscal Council and prominent economic journalists, claim that at least some figures produced by today’s Statistical Office of the Republic of Serbia (RZS) need to be questioned, and that its methodology is skewed. The RZS announced recently that the unemployment rate reached 11.3 per cent in the third quarter of 2018, representing a new record for the period with a comparable series of data, between 2014 and 2018. Economists claim that this is impossible, as Serbia’s GDP growth is crawling and cannot explain any dramatic fall in unemployment. Nominal GDP figures are also questioned, as they tend to increase strongly following the adjustment of initial figures, automatically impacting on the percentage of Serbia’s public and external debt versus GDP, which naturally becomes much more acceptable, while the hard numbers in dollars remain the most unaffected. While RZS suggests that Serbian citizen’s purchasing

January

Serbia has to date failed to address the issue of slow growth. As such, any prognosis of economic growth in 2019 depends much more on the question of whether the government will, finally, truly embrace reforms, than it does on metrics. As long as statistics are dressed to impress, the 3.5% growth estimated for 2019 will be presented as continuous success, despite meaning stagnation in reality power is constantly on the rise, mirrored by increases in retail volumes, some Serbian economists, such as Dragovan Milićević, claim that the purchasing power is stagnant in real terms. It is important to note here that the issue is not about how politicians present these figures (as “a golden age”), but about hard figures. International financial institutions don’t question these figures. That is (probably) natural, since fiscal consolidation is holding up well – as is largely accepted even by government critics like the Fiscal Council. The IMF is much more focused on Serbia’s ability to pay its external debts. Some, like the European Commission, note the rise in domestic spending as a force helping the economy accelerate, along with the falling unemployment rate, and don’t go into details, such as that the latter might be a result of

Some Serbian economists are hoping that the Chapter 18, devoted to statistics, will gradually force RZS to produce reliable and comparable data in line with Eurostat rules

the brain drain, inactivity and adverse demography. So, who is right and why are the questioned figures important? Numbers say a lot about economic growth. Current GDP growth – whether it’s 3.5% or 4.1% – is still more about favourable weather conditions than comprehensive growth of the new economy; it is impressive because it’s starting from a low base. This is not to say that FDI inflows are not respectable or that there are no domestic companies capable of efficiency. One recent study by Belgradebased think-and-do-tank CEVES showed that there are islands of new export-orientated foreign and domestic companies that are competitive, efficient and (sometimes) have advanced products and services. However, these are islands, not archipelagos or larger conglomerates. They are often lonely fighters swimming against the current, i.e. against the (still) unfavourable business climate. Growth, which is fluctuating at around 3%, is not suitable for an emerging country like Serbia’s if it wants to transition seriously from a labour intensive to knowledge intensive economy, or if it wants to create high-quality jobs and slowdown the brain drain. As long as real reforms are lacking, the level of public investments is inadequate and, as many businesses say, the administration remains slow and corrupt, nothing much will change, except playful statistics.

Interview Exclusive DEJAN SAVIĆ

HEAD COACH OF THE SERBIA MEN’S NATIONAL WATER POLO TEAM

Photo VSS/MARCEL TER BALS

When he launched his coaching career in 2010, there were few – even among those who knew him well – who envisaged him achieving such results; results that few experts in any sport could boast of achieving. Already now, he could give up his coach’s blackboard, put aside his whistle and stopwatch and surrender himself to a stressfree life, aware that – along with his wards – he’s left so much behind him that there’s a question over whether anyone could repeat it. But then he wouldn’t be Deki Savić. A new cycle has begun. A true Belgrader in every respect. Eloquent, charismatic, well-read, prepared always to ask and listen, even today, when he seemingly knows everything. He knows everything, but isn’t burning to mention that, if nothing else because he’s our man. Between 2013 and the end of 2018, Savić won 12 gold and two bronze medals with Serbia’s national team. In the first year, Serbia’s team proved to be the best at the Mediterranean Games in Taragona, then his team won the European Championships four consecutive times, and then at the World Cup

Guardian Of

Sport’s Culture I watched Dejan Savić throughout this entire playing career. From the age of 14 (1989), when Ratko Rudić gave him a chance in the Partizan first team and thus opened the door to him, as an extraordinary talent, all the way until 2010, when he retired from playing while at Red Star. He played in Spain, Italy and Russia, earning a great many friends everywhere. Alongside that, from the first to the 444th match for the national team, so many stories adorned with trophies, medals and individual awards 10

January

By Dejan Stevović

RELATIONSHIP

LEADERSHIP

That relationship is nevertheless burdened with risk, is constantly on a knife edge, because too much freedom can easily turn into anarchy

I knew that the deeper a scratched, the more negative would be the response from those I was leading. You know, I don’t need to know everything

in Berlin, with players whose time has yet to come, the team won bronze.

You will agree that top results form the basis of such relationships, as something that gives them strength. Do you think about a moment when there won’t be such

It sounds nice to say that you won everything?

ROLE

I only did what was sought from me; I was a soldier carrying out orders. And as for my career, I wouldn’t change anything

results; will that jealously guarded atmosphere be ruined?

It won’t; that’s all sport. We had a series of great results. That was such a series that the top news

I didn’t win, they won – he says, immediately stopping every story about shared credit for members of the national squad.

That wasn’t some kind of advertising; that was my sincere gratitude towards them. I know what they went through, everything we did, and that without their invested effort, and our own, there wouldn’t have been any good results. This is about a collective group of top players, professionals, devoted to the job they do and, most importantly, to the national cap that they play for without discussion. This generation started showing it was capable of major strides in 2009, after the departure from the scene of the brilliant team to which you also belonged.The disbelief that followed them created a rarely-seen atmosphere of togetherness. It still guards itself jealously today, while you fit into it perfectly. -Our start was at the end of 2012. We went through a period of getting to know each other, though I’d played with most of them for the national team. That introductory period was actually the creating of an atmosphere, primarily of trust and respect. Without that success is not possible. That relationship is nevertheless burdened with risk, is constantly on a knife edge, because too much freedom can easily turn into anarchy. Does that scare you?

No, why would it? It will be relaxed, accordiing to our rules, up to the limits that we’ve set for ourselves. If that limit is crossed, then the iron hand rules.

Photo VSS/MARCEL TER BALS

Okay, you all won. Players who you call dragons, the technical team and you. Amongst other things, you showed what you think about the players at the ceremony of the Olympic Committee of Serbia, when you accepted the award for the Best Trainer dressed in a T-shirt featuring their picture and signed “Thank You, Guys”.

This generation started showing it was capable of major strides in 2009, after the departure from the scene of the brilliant team to which you also belonged. The disbelief that followed them created a rarely-seen atmosphere of togetherness. It still guards itself jealously today, while you fit into it perfectly

story from the 2017 world championships in Budapest was that Serbia had experienced defeat and wasn’t first. I’ve repeated that several times. Our goal is the Tokyo Olympics, all championships are stepping stones that serve to esnure when then play the best. The biological clock plays its part and after Tokyo a fair few of the players will conclude their excellennt national team careers. We have replacements. But if you’re asking me about possible situations that might arise after disappointing results, then the most important thing is organisation. How much support we have from that at that instant is the issue. We’re trying to do everything according to plan, to anticipate reactions even in that case. Personally, I have a plan for that, but there must be organisational support.

January

Interview Exclusive We recall that you took the reigns of the national team during a chaotic period for the water polo federation. Three months after being appointed, Sovrović was replaced as president. Your first performances were monitored by a coordination committee...

positions regarding my work.They are important and can help, but who state them is also very important.

That’s right, I survived due to chance, although I consider that everybody deserves a second chance. Back then I was in a state of shock, seeking and expected criticism.They were absent, or could only be heard around external circles, which – believe me – don’t interest me. I’ve never avoided critical

Everything after that fateful trip to Barcelona is history. From that aforementioned chance happening, the lessons learnt brought unprecedented results, not only for water polo but for other sports. Does that create pressure today?

That always exists. Remember RIo. Alongside the public pressure, which is sometimes artificially created, there is our inner pressure that is even stronger. If we believe in what we’re doing, our experience from Rio tells us that there should be no fear. We just need to defend our internal attitudes, our rules, and to act accordingly within the team.

Photo VSS/MARCEL TER BALS

I remember that it wasn’t easy. Then we finished in seventh place at the World Championships in Barcelona. It was a big slap in the face for all of us,

had leadership. Do you still think that today; that you survived, in your opinion, due to chance?

but a bigger slap for me than the players. It turned out that we were living in some illusary state, a long way from reality. I then analysed the way we played, but I didn’t want to scratch too deeply beneath the surface of those relations. That wasn’t part of my job, because I knew that the deeper a scratched, the more negative would be the response from those I was leading. You know, I don’t need to know everything. Many people would have then justified the situation within the organisation?

Perhaps, but I’ve never done that and never would. You once said that you would probably have been replaced if the federation had

January

Our water polo has a culture, a tradition and responsibility. We always have high objectives. These things are inherited, transferred from generation to generation, and what’s important is that no one has the right to gamble away that inheritence

Rio is a special story. It was logical for Serbia to be the top favourite. Even the Australian team’s head coach, Fatović, said that our team was the only one worthy of gold. Don’t you think that it was then that the atmosphere started to be created in which the most important mission was to remove Savić and his dragons from the throne, and that numerous national teams started working differently in pursuit of that goal?

I think that’s to be expected. Such was the moment; everyone was eager for Serbia’s scalp. And in that kind of chase mistakes are made. We are aware of everything; we try to have answers ready, to recognise their plans and react to counter them. The goal is to have answers to all questions. Your relationship with coaches, the way you approach them and show respect, is often a topic in the media.

I’m completely honest in such things. I congratulate the opposing coach after every match and try to leave the pool quickly, in order to have a few minutes alone. We coaches cannot exist without one another. This century is the century of technological innovation and it’s difficult to be able to hide anything. Here I’m referring to tactics, to elements of the game. It is important to be better prepared in a mental and physical sense. Do you have a solution for the team after Tokyo?

I believe I do. We’re shaken by a crisis of clubs – not just in water polo. That is inevitable. We’re passing through the initial stages of a crisis and

are rolling at a certain speed, perhaps a high speed. Now we can only soften that somehow, but I’m certain that solutions exist and that we can turn things around completely to our benefit through systemic decisions. However, that’s not up to me. I think that we’re relaxed when it comes to players until 2024. That doesn’t mean we’ll have the same kind of results, but it means that this continuity in winning medals since the year 2000 should continue. The clubs that produce players are in crisis and we must work on that, in order for the quality that we’ll need for the period after 2024 to emerge. When are you selecting players, what do you insist on – apart from evident talent?

Alongside water polo skills, there must be an element that is reflected, on the one hand, in exceptional individuality and, on the other, in the ability to fit into the team. The team is above everything, above personal ego. Such a player must adapt to the conditions that form the tradition and atmosphere of the team. In the end, all that remains is the ac-

Yes, I’m a local patriot, and I’m currently satisfied with the life I live and am not so glutenous that I would seek more ceptance of individuals on the part of the team. Of course, I don’t need to mention that mental structure is the dominant factor of the whole story. I said in one interview that we have to be very careful in that respect. Our water polo has a culture, a tradition and responsibility. We always have high objectives. These things are inherited, transferred from generation to generation, and what’s important is that no one has the right to gamble away that inheritence. It is well known that you’re burdened and engaged in your work by things that

are not part of your job description. How do you endure that?

You’re right, I’m doing something that’s not my niche, which occupies a lot of my time. That annoys me. The moment is critical and there’s never enough time; time for that which is needed by a coach in any sport. You initiated the formation of the Association of Water Polo Coaches. Recently, along with Dragan Jović and Zoran Gajić, you participated in a panel of experts. Is an association of top experts at the national level one of the solutions to achieving a better status for Serbian sport?

I’m not sure that something like that doesn’t already exist. I think we need to be more visible, that we’re not sidelined in relations towards players. If we want seriousness and professionalism, we need to be protected in our domain. In this way, we would be able to devote ourselves solely to our work and to doing that job without thinking about external things.

January

Interview Exclusive satisfied with the life I live and am not so glutenous that I would seek more. There’s a day at the end of the year when your generation gathers together in a tavern. And there you’re also one of the initiators of the gathering.

Photo VSS/MARCEL TER BALS

That’s in the spirit of some tradition of ours. You know, there I use that curse from the dinner with Prince Lazar “Who doesn’t come tomorrow...”. It’s always nice. No matter how much we try to talk about everyday things, how much more we joke around, we always touch on water polo. That’s a big and important part of our lives and their support means a lot.

After that panel, you declared your support for women in sports. Do you see yourself as a possible coach of ladies teams?

Uh... I don’t think I’m strong enough mentally for such an adventure. But with a year or two preparing myself, why not? It is known that you like company, taverns, socialising. You like to sit in one of them that’s in the building where you live. You single out your “Oscar-winner” friends as an important part of your everyday life.

Those are people with great and rich life careers. I’m capable of sitting, listening and learning. Due to my obligations, it is rare for us to see each, but we’ll make up for what’s missed. After all these results that are hardly reproducable, you’ve stayed in Serbia despite numerous invitations. Do your “Oscarwinners” ask you why you haven’t left?

They ask every time. What do you tell them; what would you lose?

I tell them that I’d lose them, comrades, friends, Belgrade. I’m nostalgic, everything connects me

January

Alongside the public pressure, which is sometimes artificially created, there is our inner pressure that is even stronger. If we believe in what we’re doing, our experience from Rio tells us that there should be no fear. We just need to defend our internal attitudes, our rules, and to act accordingly within the team to the neighbourhood, previously to Miljakovac, where my parents live, and now Dorćol, where I live with my family that supports me in everything I do. Yes, I’m a local patriot, and I’m currently

That’s a generation of great names that was only deprived of Olympic gold.

I answered that question earlier with Danilo Ikodinović’s statement that we probably didn’t deserve that gold for some reason. I watched you play from the beginning of your career to the end. I believe that you gave your enormous individual quality in the function of the team and consciously created space for others to express their abilities. Would you do that again today?

I prepared for this question and I don’t have an answer. Better to say it like this: I only did what was sought from me; I was a soldier carrying out orders. And as for my career, I wouldn’t change anything. To conclude, how do you spend your free time?

With family, relaxing, driving through Belgrade’s empty streets on Sunday mornings. Films, books. I’m interested in the Great War. What do you recommend?

The Iron Regiment by Darko Nikolić.This is not an advertisement; it’s a great book. And that’s where the story ends, at least for this time. I’ve written countless interviews with Dejan Savić. From a kid starting to build his careeer as a player and a personality, to today - when he’s a mature and successful man in every respect. In his character he’s remained the same, with feet firmly on the ground, aware of everything encompassed by a coach’s life. That’s certainly why he’s one of the most valued characters of Serbian sport.

January

Interview H.E. AMR ALJOWAILY AMBASSADOR OF EGYPT TO SERBIA

H.E. Amr Aljowaily began his term as ambassador just as preparations were underway to commemorate the 110th anniversary of the establishing of bilateral diplomatic relations between Egypt and Serbia. “In this period lasting more than a century, the two countries were initially connected by their struggle for independence, and then by their commitment to fight for equality and the rule of law in international relations,” says the Egyptian ambassador in this interview for CorD Magazine. “Good bilateral relations should be complemented in this second century of relations by intensified economic cooperation, which will be contributed to through the work of the Committee for Economic, Scientific and Technical Cooperation, to be headed by the foreign ministers of the two countries, who will hold a joint meeting in Cairo in the middle of next year.”

Rich History,

Bright Future Despite the Egyptian Foreign Minister Shoukry making only a short visit to Serbia this November, he was keen to hold a breakfast meeting with the leaders of many companies interested in the Egyptian market at the Privrednik Business Association. In fact, we were pleasantly surprised that a larger number of company representatives than expected, almost 60, showed up at 7.45am! This commitment is much appreciated, and we consider it as a major indicator of the potential that exists between the two countries – Amr Aljowaily 16

January

Your Excellency, you will soon mark the completion of the first year of your term in Serbia. How would you describe this period?

The year 2018 has been an unprecedented year in bilateral relations between Egypt and Serbia. It has included many pioneering activities, whether visits or events, many of which were the first of their kind. I have found my reception by official and social circles since my arrival as being most welcoming, and the continuous positive feedback encourages us at the Embassy to continue to exert the same level of effort and quality of dedication. This summer marked the 110th anniversary of bilateral diplomatic relations, which reminded of the friendship, cooperation and support that characterise these relations. How do you see Egypt and Serbia today?

In order to look at “Egypt and Serbia today”, as you term it, we should use the historical lens crystallised over 110 years. When the Serbian King sent his first ambassador to Africa and the Arab World, stationed in Cairo, the two countries were already forging an enduring relationship that was sparked by the anchoring of their modern identity, enjoying independence and projecting a regional and even global role in the modern international system after

RELATIONSHIP

Even with the rich heritage of diplomatic relations, there is still room to enhance the scope and organise new milestone events

TRADE

Facilitation of the trade regime is surely a priority for the period ahead, including the selection of a list of goods that are of priority to both countries

REGION

Egypt is exerting its utmost efforts to maintain international peace and security in its Arab and African regions, and particularly in its immediate neighbourhood in the two regions

World War I. This similarity in foundation framed bilateral relations in the years that followed, as the two countries strived for independence and worked together to foster justice and equality in international relations as a whole, through their regional role.

Joint Committee, including its preparatory processes, will leave space for trade officials to address these important issues.

To commemorate the occasion of 110 years

you believe there is enough interest for such

You’ve advocated for the establishing of direct flights between Belgrade and Cairo. Do

of diplomatic relations, Ali Abdel Aal, Speaker

a regular route to be economically viable?

of the Egyptian House of Representatives,

This is one of the most important steps we all need to work on to expand bilateral relations. I invite airlines in both countries to consider not only the important, yet not holistic, aspects of passenger traffic between the two countries, but equally important is the fact that both capitals are gateways to their respective regions. Cairo has one of the most extensive networks of flight routes to Africa and the Arab World. Serbian companies can easily establish flights to Egypt and use that as a stepping stone to project their reach to the wider region. It is worth noting that ‘Greater Cairo’ is now host to new airports, namely West Cairo’s Sphinx International Airport, which enjoys the tremendous advantage of close proximity to the Giza Pyramids, the soon-to-be-opened Grand Egyptian Museum and the Cairo-Alexandria highway. Can you imagine what it would mean for Serbian companies to be the first to enter the Egyptian civil aviation market, and to make use of this promising potential not only to access a country that has a population of 104 million, but a city that is a hub for two adjacent regions? I leave it up to our readers, and especially civil aviation policymakers, to provide an answer! I’m also happy to point out here that, in addition to the indispensable element of flying to Cairo, we have also achieved tangible results in civil aviation with regard to other destinations in Egypt, especially Hurghada International Airport, where this season – for the first time in years – we witnessed three companies serving tourists flying to this beloved resort city. Also, the visit of the Governor of the Red Sea to Serbia last October, which was also the first visit of its kind, included talks with the top management of Niš’s Constantine the Great Airport, from where we are expecting the first flights to depart for Egypt in May 2019. An important element in civil aviation is to think ‘out of the box’, as we did with Niš, and

visited Belgrade and announced the upcoming meetings of the two countries’ mixed committees for economic, scientific and technical cooperation, as well as the signing of a trade promotion agreement. Can you tell us how much progress has been made on these announced activities?

You may recall that at the beginning of this interesting interview we mentioned that this unprecedented year has been marked by many events that were the first of their kind. Well, the 19th July visit of the Speaker was a highlight and the first such visit to Belgrade, despite long historical relations between the two countries, and was specially significant in that it included an appreciated special session of the National Assembly with a direct broadcast of the address. This says something: that even with the rich heritage of diplomatic relations, there is still room to enhance the scope and organise new milestone events. Let me return to your question regarding the follow-up to a number of announcements made during the visit. Well, I’m glad that this interview is taking place at the end of the year, when we can report back to the distinguished readership regarding the many important activities that took place, especially as they relate to the Joint Committee. I’m particularly pleased to be able to highlight that during November’s visit of Egyptian Foreign Minister H.E Sameh Shoukry – itself the first such visit in more than eight years – it was announced that the Committee will be upgraded to be chaired by the two countries foreign ministers, with its next session to be held in Cairo during the first half of 2019. That is a concrete step that reflects the commitment of both countries to substantially enhance their bilateral relations. As for trade, I can assure you that the promotion

Serbian companies can easily establish flights to Egypt and use that as a stepping stone to project their reach to the wider region of commercial relations will feature high in preparations for this now-upgraded Joint committee. We see that the current volume of trade, which has not exceeded 100 million dollars, doesn’t reflect the current excellent relations, nor does it meet expectations – especially in light of encouraging results with Serbia’s neighbouring states in eastern and southern Europe. Facilitation of the trade regime is surely a priority for the period ahead, including the selection of a list of goods that are of priority to both countries. I hope that the mechanisms of the

January

Interview Foreign Affairs. I’m confident that this exchange of high-level visits will not only continue in 2019, but will intensify.

to consider the bigger picture, as we are projecting for Cairo as a regional hub. Media have reported that Dragan Marković has been selected as the president of the

As a diplomat who has had a rich career,

Business Council of Egypt and Serbia. Could

how would you evaluate the current situation

you tell us more about this council and what

in the Middle East and Egypt’s current posi-

its role will be?

tion in the region?

Mr Marković conducted a visit to the Governorate of the Red Sea, within the twinning agreement between Jagodina and Marsa Allam, the latter being a rising resort destination for lovers of diving and beach resorts. The Agreement between the two provinces includes economic and commercial relations as a major aspect of cooperation for implementation. I’m glad that an exchange of delegations, with major business representation, was implemented less than two months after the signature of that twinning accord. Different mechanisms that institutionalise business interactions between the two local administrations are a welcome development. Furthermore, I’m very pleased to note that we have received a list from the Chamber of Commerce & Industry of Serbia featuring the Serbian side’s designated members of the Joint Business Council, according to the agreement signed with the Egyptian Businessmen Association in 2005. In a positive reply, this latter association also provided its nominees from the Egyptian side for endorsement to the Ministry of Trade and Industry, which Foreign Minister Shoukry announced as being underway at the meeting with Deputy Prime Minister and Foreign Minister Dačić last November. I trust that these concrete steps will ultimately lead to the formation of the long-awaited business council, which I believe is an essential mechanism for promoting trade. I would like to emphasise, however, that business contacts help substantially, though in less institutionalised ways. For example, despite the short span of Foreign Minister Shoukry’s November visit, he was keen to hold a breakfast meeting with the leaders of many companies interested in the Egyptian market at the Privrednik Business Association. In fact, we were pleasantly surprised that a larger number than expected – almost 60 – showed up at 7.45am! This commitment is greatly appreciated, and we consider it as a major indication of the potential that exists between the two countries. The first ‘Egyptian Economic Caravan’ to tour Serbia, in an intensive week last September, showed similar potential, with the provincial chambers of commerce in Novi Sad, Niš and Užice reflecting the fact that potential is

Egypt is exerting its utmost efforts to maintain international peace and security in its Arab and African regions, and particularly in its immediate neighbourhood in the two regions. Its main contribution to restoring regional stability is in contributing to diplomatic processes aimed at resolving these ongoing conflicts. This includes, for example, and not as an exhaustive list, Egypt’s continuous efforts for the Palestinian cause, its active engagement in the Libya Neighbour Ministerial mechanism and its participation in the Small Group on Syria. On a wider scale, Egypt is currently the seventh largest contributor of troops and police officers to UN peacekeeping missions, serving in almost every mission in Africa, as an example of Egypt’s unwavering commitment to peace and prosperity on the continent; one that is only reinforced by its chairmanship of the African Union Peace and Security Council for December 2018, and its chairmanship of the Union throughout 2019. At the political level, Egypt maintains that the most effective approach to ending these conflicts is anchoring national identity and consolidating national institutions, away from tribal, religious or ethnic divisiveness. Egypt’s own national identity, enriched by several pillars of accumulated human civilisation, was itself manifested at the World Youth Forum in Sharm El Sheikh in November, where a large representation from Serbia included the presenting of Novi Sad as the upcoming Youth Capital of Europe. That was no coincidence, as the role of youth in resolving national conflicts and realising development could not be overemphasised, especially in Africa and the Arab World, where its proportion of the population is comparatively highest. This quality of Egyptian diplomacy, emanating from a long tradition of peacemaking, is most apt for contributing to other regions, let alone globally; one that we are now promoting through partnerships for the Cairo International Centre for Training on Conflict Resolution and Peacekeeping and Peacebuilding, which has best practises and lessons learnt that are also relevant to the Balkans. This is yet another area of potential cooperation that we are pleased to highlight through your distinguished magazine!

January

Egypt is currently the seventh largest contributor of troops and police officers to UN peacekeeping missions, serving in almost every mission in Africa not limited to large companies headquartered in Belgrade, but rather extends further to reach SMEs in all four corners of Serbia. During the visit of House of Representatives Speaker Ali Abdel Aal, the President of Serbia extended an invitation for Egyptian President Abdel Fattah el-Sisi to visit Serbia. Are you working on making this visit a reality?

This invitation was reiterated, with much appreciation, at meetings during the November visit of Foreign Minister Shoukry. The excellent relations between the two Presidents, initiated during their meeting in New York in 2017, provide an excellent basis for realising further summits in Cairo, Belgrade and wherever else the opportunity arises. The Embassy spares no effort in preparing the groundwork for all high-level meetings, two of which took place in 2018 – through the visits of the Speaker of the House of Representatives and the Minister of

January

GLOBAL DIARY

Politicians

“When politics is no longer a mission but a profession, politicians become more self-serving than public servants”. - EMMANUEL MACRON, PRESIDENT OF FRANCE

FRANCE’S ‘YELLOW VEST’ PROTESTS

MISSING EMIRATI PRINCESS ‘PLANNED ESCAPE FOR SEVEN YEARS’ Emirati princess Sheikha Latifa bint Mohammed al-Maktoum who disappeared after witnesses described her being seized by commandos on a yacht had spent seven years planning her failed escape bid from the Gulf state she considered a gilded prison, according to her friends. Sheikha Latifa is the daughter of Sheikh Mohammed bin Rashid al-Maktoum, Dubai’s ruler and the prime minister of the UAE. The 32-year-old has not been seen or heard from since she was grabbed by armed men about 50 km off the coast of India in early March. The detailed planning for her doomed escape bid is laid out for the first time in a BBC documentary, Escape From Dubai, through interviews with a French ex-spy and Finnish capoeira teacher who say they helped her plan it, and the Filipino crew that say they tried to sail her to a new life. Latifa herself said in a video recorded before her escape bid that she had previously tried to leave the UAE aged 16 but was captured at the border, jailed for three years, beaten and tortured.

MAFIA ‘GODFATHER’ AMONG 45 ALLEGED MOBSTERS ARRESTED

Hundreds of thousands of protesters have taken to the streets across France since mid-November. The protesters came with a list of demands related to high living costs, the perception that Mr Macron favours the elite, and that his Government’s economic modernisation is too fast. Most of the “yellow vest” demonstrators in Paris appeared to be working-class white men from elsewhere in France, angry at economic inequalities and stagnation. Some 4,000 people were taken into custody around France, according to the Interior Ministry, in a roundup the scale of which the country has not seen in years. Police and protesters also clashed in other French cities, notably Marseille, Toulouse, lyon and Bordeaux, and in neighbouring Belgium. The man at the focus of protesters’ anger, President Emmanuel Macron, who made a stunning retreat mid last month and abandoned the fuel tax rise that initially prompted the “yellow vest” protest movement a month ago.

Italian police have arrested the suspected new head of the Sicilian mafia and 45 other alleged mobsters in a major blow to organised crime on the Mediterranean island, the government has said. The previous capo di capi (boss of bosses), Salvatore “Toto” Riina, died in prison last year after spending almost a quarter of a century in jail for ordering dozens of murders, including those of two of Italy’s most celebrated anti-mob prosecutors. Among those arrested was Settimo Mineo, an 80-year-old jeweller suspected of heading local mafia families in the Sicilian capital Palermo and of being promoted to lead the whole crime group in May, police said.

January

POLAR BEAR SWIM The ultimate hangover cure, the Vancouver Polar Bear Swim is one of the largest and oldest Polar Bear Clubs in the world. If you weren’t already aware, a Polar Bear Swim includes a quick, invigorating jump into the ocean. A great way to start the new year! The first Polar Bear Swim took place in 1920 when a small number of hardy swimmers took the plunge into English Bay on New Year’s Day. Led by their founder, Peter Pantages, the swim has grown from around 10 swimmers in that year to the new record of 2,550 official entries set in 2014. This year, the weather is looking balmy – a pleasant 5 degrees celsius, with sun! The perfect forecast for a dip into the Pacific Ocean!

Responsibility

“In Europe it is particularly important that we build good relations to everyone who holds political responsibility, because Europe can only be built together”- ANGELA MERKEL, GERMAN CHANCELLOR

NEW YEAR’S EVE CELEBRATIONS BEGIN IN THE PACIFIC Islands across the Pacific were the first to welcome in the New Year, with celebrations to mark the start of 2019 beginning in the tiny nation of Kiribati at 10am GMT, followed by the Chatham Islands, Fiji, Tonga, New Zealand and Australia. In Suva, the capital of Fiji, hundreds of people counted down the last 10 seconds of 2018 from Albert Park during the country’s annual New Year’s Eve Street Party. But well before the clock struck midnight, thousands of revellers gathered on Sydney harbour in order to save a spot with a good view of the annual Harbour Bridge fireworks. More than 5000 kilograms of explosive devices, including about 11,000 shells, 25,000 shooting comets and 100,000 individual pyrotechnic effects, are to be detonated during the Sydney fireworks display, themed “Awaken the Spirit”.

January

Feature

By Aleksandar Kontić, psychoanalyst

Summit of psychoanalysts, in cooperation with the Austrian Cultural Forum Belgrade

JOANNES IRSCHIK, MARIJA VEZMAR, KITTY SMIDT, ALEKSANDAR KONTIĆ AND ELISABETH SKALE

Malaise In Culture The Psychoanalytic Society of Serbia carried out myriad activities in 2018 in commemoration of its significant jubilee of eight decades since the establishment of the first psychoanalytic society in the region. It was way back in 1938 that pioneers of psychoanalysis formed the first Psychoanalytic Society in Serbia Freud’s work, paradoxically, finds that civilization itself is the cause of this malaise: man must cultivate his own basic, sexual and aggressive drives, as the basis for belonging to a civilised world; that’s a sacrifice he makes by renouncing his own egoism or narcissism. But as a result he is ambivalent to that same culture, and essentially divided within himself between the satisfaction brought about by the need to create, build and unite, and the need to dismantle destructive and self-destructive urges. Thus Freud states: “The fateful question for the human species seems to me to be whether and to what extent their cultural development will succeed in mastering the disturbance of their communal life by

January

The culture of narcissism in which we live today and which is on the wane was not known in Freud’s time, nor was its base characteristic of a reluctance to sacrifice anything that doesn’t bring direct personal satisfaction

the human instinct of aggression and self-destruction. It may be that in this respect precisely the present time deserves a special interest. Men have gained control over the forces of nature to such an extent that with their help they would have no difficulty in exterminating one another to the last man. They know this, and hence comes a large part of their current unrest, their unhappiness and their mood of anxiety.” Today we can certainly confirm the relevance and currentness of Freud’s stance. On the other hand, the culture of narcissism in which we live today and which is on the wane was not known in Freud’s time, nor was its base characteristic of a reluctance to sacrifice anything that doesn’t bring direct personal satisfaction.

January

Focus

Start-ups

When Can We Expect

The First Serbian Unicorn?

This autumn saw American software cloud company Nutanix acquire SerbianAmerican start-up Frame for 165 million dollars, representing the most expensive acquisition of a Serbian start-up to date. As some believe, if everything goes well, Frame represents the first ‘unicorn’ to come from Serbia. But is this a one-off or a sign of a growing start-up community in the country?

hat are the essential prerequisites for Serbia to increase the number of start-ups in the country? Where are the key challenges and the greatest potential: in education, encouraging innovation, access to capital, infrastructure, the tax system? In which logical order should obstacles be eliminated? Who are the key players able to accelerate the change process? Is

ALEŠ PUSTOVRH

PARTNER AT ABC FIRST GROWTH VENTURE CAPITAL FUND

EXPANSION EXISTS THE BEST OF THE SERBIAN START-UPS THAT WERE CREATED HALF A DECADE AGO GREW, AND THE FIRST ONES ARE NOW MERGING WITH LARGE GLOBAL PARTNERS, EXITING AT 9-FIGURE VALUATIONS. WITH THEM, SERBIA’S START-UP ECOSYSTEM WILL RECEIVE A BOOST THAT WILL ALLOW THE NEXT GENERATION OF START-UPS TO GROW FASTER AND CREATE EVEN MORE VALUE The Serbian start-up ecosystem has developed significantly in recent years. A number of highly skilled software developers are creating high-quality products for some of the world’s most famous companies. They are paid wages that are many times higher than the average in Serbia – and are

January

it more important to have one unicorn or numerous community startups? What can Serbia, as a society, gain from successful start-ups? Are they part of the national economic ecosystem, or global players without a country of origin? This is a long list of questions we posed to our interlocutors, all of whom contribute, in different capacities, to the development of the vibrant start-up community in Serbia.

increasingly trying to create their own companies. Some researchers, engineers and developers from universities are joining forces with (mostly foreign) corporations and creating new high-tech companies – and with them high-quality jobs. And some Serbian founders that have created successful ventures abroad are establishing operations in their home country. Based on these developments, the size of the Serbian start-up community is currently in the second, expansion phase. StartIT SEEMS WE ups that were created in the first phase, a couple of years ago, and have survived so far are now WON’T HAVE TO expanding and growing. At the same time, more WAIT ANOTHER new start-ups are being created. DECADE TO REACH Unfortunately, while the start-up community is A BILLION-DOLLAR expanding, it is not achieving national recognition as a viable alternative to a more traditional EXIT OF THE FIRST economy. The next phase of typical start-up SERBIAN STARTcommunity development are the exits. The most UP – THE SERBIAN successful start-ups grow to a size large enough UNICORN that they become attractive to the (most often foreign) corporations that acquire them. This brings money and useful new connections to the start-up ecosystem, but also creates a role model for other start-ups – showing that exits are possible even in a small start-up ecosystem like Serbia’s. This demonstrative effect can sometimes create a lot of benefits on its own: Skype has cemented the international status of Estonia as the best start-up country in Eastern Europe, while Outfit7’s billion-dollar exit has brought Slovenian start-ups to the centre of mainstream media attention there, and motivated an entire generation of new start-up founders in that country.

DEJAN RANĐIĆ

FOUNDER AND DIRECTOR OF ICT HUB

PEOPLE ARE OUR RESOURCE AND OUR LIMITATION AS I WRITE THIS, PERHAPS SOMEBODY IS WORKING HARD TO CREATE A SERBIAN COMPANY THAT WILL RECEIVE THE EMBLEM OF A UNICORN IN 2021. NEVERTHELESS, DESPITE MY OPTIMISM, I THINK THAT’S UNLIKELY, PRIMARILY DUE TO A LACK OF THE MOST IMPORTANT RESOURCE – THE PEOPLE WHO WOULD DEVELOP THIS SUCCESSFUL COMPANY Although it seems that there will be no “unicorn” in Serbia, it’s wise to be careful with such a statement. The acquisition of Niš-based company Frame for a total of $190 million testifies to the potential of Serbia and the ability of some people here to create high value companies. However, a “unicorn”, i.e. a company worth more than a billion U.S. dol-

GORDANA DANILOVIĆ GRKOVIĆ ACTING DIRECTOR OF SCIENCE TECHNOLOGY PARK BELGRADE

WE CAN DO IT, NO EXCUSES THE KEY CHALLENGES IN INCREASING THE NUMBER OF START-UPS IN SERBIA ARE IN DEVELOPING AN INNOVATIVE ECOSYSTEM IN A WAY THAT WILL ENABLE US TO ACTIVATE THE ENORMOUS POTENTIAL THAT WE HAVE IN YOUNG PEOPLE IN OUR COLLEGES Encouraging young people and motivating them to develop their ideas is a process that should be boosted in Serbia. This initial promotion is the first step, but is still an insufficient one for creating a start-up boom. If we want start-ups to be part of the national economic system (and I don’t see how we’ll develop as a society if they aren’t), then we need to accelerate the creation of a larger number of support organisations at the regional level. These organisations shouldn’t deal only

lars, seems quite unrealistic, though not impossible. First of all, we are talking about a company that does not exist (or which at this moment at least is far from that goal), and as a “unicorn” it would be the most successful company in Serbia, if not the region, by far. Successful “unicorn” start-ups achieve this goal in less than two years, so it’s possible that, as I write this, somebody is working hard to create a Serbian company that will receive the emblem of a unicorn in 2021. However, I think there’s a greater possibility of us reaching a “unicorn” that was founded here and developed to that stage in some other market. WHAT CAN SERBIA That certainly isn’t a bad scenario either, because in such a case there would be a great GAIN AS A SOCIETY incentive and the directing of youngsters FROM SUCCESSFUL towards entrepreneurship and the creation of START-UPS? their own companies. PRIMARILY The basic potential of our market is represented by people who are able to think SUCCESSFUL innovatively and ready to follow world trends. COMPANIES AND However, it is precisely the lack of people that INDIVIDUALS, WHO is the greatest challenge and obstacle. There are almost no unemployed people in this field, DO BUSINESS WITH and the high offer of good jobs in software THE ENTIRE WORLD development companies, and especially in FROM SERBIA the ever increasing number of people leaving Serbia, severely restricts development in this area. The key players that can accelerate change are in the corporate sector. The need of large companies for corporate innovation, as well as the ability to apply technologies that didn’t exist a few years ago, creates a great opportunity and incentive to develop new solutions that can be applied in corporations. The Industrial Revolution 4.0 is currently unfolding, and in that is a great opportunity.

with promotion, but should also work diligently and professionally with these young teams to develop their product/services through various forms of business consulting, mentoring, 3D modelling, intellectual property protection and networking in the interests of these young people, but also in the interest of the entire IF WE WANT society. The experience of Science Technology Park START-UPS TO Belgrade shows that the start-up community BE PART OF THE can be developed rapidly in this way, and can NATIONAL attract, in concentric circles, more young people each year to develop their ideas. This is a ECONOMIC process that requires time, and it’s extremely SYSTEM, THEN important that we’re aware of the significance WE NEED TO ACof working on strengthening the start-up CELERATE THE business and helping them to scale up quick and grow into companies. On the other side, it CREATION OF A is essential that we work on recognising and LARGER NUMBER understanding the start-up economy from OF SUPPORT the point of view of tax and other services, in order to eliminate those obstacles. In this ORGANISATIONS context, it is obligatory that we adapt the legal AT THE REGIONAL framework to enable the presence of major LEVEL investors. There are some good experiences in developed countries, as well as in some neighbouring countries, so it is important to learn and follow world trends, and to adapt such models to our conditions. The potential is really huge and it is entirely dependent on us whether we’ll seek excuses as to why we can’t do it or whether we’ll work persistently and on a daily basis to strengthen our economy.

January

Focus

Start-ups

IVAN RAKONJAC

DIRECTOR OF THE INNOVATION FUND

A START-UP IS A VENTURE COMPOSED OF RISK ONLY A SMALL NUMBER OF ECONOMICALLY STRONG COUNTRIES HAVE PRODUCED UNICORNS. THESE KINDS OF START-UPS MAINLY EMERGE IN ECOSYSTEMS IN WHICH CONCEPTS LIKE START-UP AND INNOVATION HAVE BECOME PART OF THE TRADITION. HIGH RISK ISN’T RECOGNISED IN SERBIA AS A CHANCE. FAILURE IS NOT FORGIVEN. AND THERE IS NO START-UP WITHOUT RISK The turning point for the business culture in Serbia will be the moment when risk and failure are accepted as an integral part of doing business, and not as an unwanted child. This does not mean that one

MILAN SIMIĆ

EXECUTIVE DIRECTOR FOR IT SUPPORT AND ICT SERVICES AT TELEKOM SRBIJA

WE NEED SYNERGY A SERBIAN START-UP RECENTLY REACHED A VALUE OF ALMOST 200 MILLION EUROS, THE HIGHEST VALUE TO DATE. INA FEW YEARS WE MIGHT REACH THE VALUE OF A UNICORN. THAT’S WHY IT SEEMS THAT WE’RE NOT FAR OFF. ON THE OTHER HAND, IT WAS LAUNCHED ON THE AMERICAN MARKET, WHICH IS THE WORLD’S MOST DEVELOPED The local market, when viewed in its entirety, doesn’t seem strong enough to be able to create a unicorn anytime soon. For such a radical change, like the shifting of industry, there is no real sequence for the desired pace and volume of transformation. We need to swiftly find

January

should completely ignore and abandon traditional entrepreneurship, yet the development and sale of innovative products and services are proven to generate greater added value A SERBIAN than those created in traditional industrial processes. In Serbia, the innovation ecosysECONOMY BASED ON tem and start-up communities are still in KNOWLEDGE MUST their infancy and are growing, and there are BE OUR GOAL. challenges lurking at every step. A DEVELOPED The state is also a very important participant INNOVATION in the innovation ecosystem. Its role is in the development of infrastructure and ensuring ECOSYSTEM AND A access to capital, but also in the planned STRONG START-UP development of education. And that doesn’t COMMUNITY, only mean higher education (which is recogAS A MINE OF nised and acknowledged internationally), but also at lower levels, where it must be focused INNOVATION, on developing creativity and learning entreARE THE BASIC preneurial skills. This is also being worked on PRECONDITIONS and the shifts are evident. New programmes FOR THE are being introduced, the goal of which is EMERGENCE OF to create greater readiness to conquer the market. Through financial incentives, startTHE FIRST SERBIAN ups (when it’s unsuitable for them to knock UNICORN on the doors of commercial banks) have the opportunity to receive a much-needed boost. A boost to continue operations, but also a boost to pave the way to private investments that transform potential into a product recognised on the global market.

answers to all of these challenges, simultaneously. We educate excellent experts, but we must increase their number, particularly in areas that are today key to any technological undertaking, such as AI or Data Science. Educational institutions must better connect mutually and with the economy, as well as with world movements. Positive change is always the result of synergistic action. Telekom Srbija recognised the efforts of the Digital TELEKOM SRBIJA Serbia Initiative to connect the academic community, state institutions, corporations HAS PROGRAMMES and start-ups themselves in order to create FOR GRANT the best conditions for the development of INVESTMENTS IN digital literacy, primarily in order to digitally transform existing businesses and digitally START-UPS THAT target all future business ventures. ARE IN THEIR Start-ups are high-risk ventures. Technological EARLY STAGES, entrepreneurship, however, is learned equally WHICH IS WHEN through successful and unsuccessful examples, so numerous communities represent an THEY MOST NEED essential basis. Success can come only from SUPPORT a third or fourth attempt, and an entrepreneur acquires important knowledge and skills on that path. Start-ups are also part of the national economic ecosystem and global players without a home country. With their operations, start-ups in local frameworks impact on the creation of a climate of entrepreneurship, innovation, the creation of new values and a specific working culture, alongside regular benefits such as income generation and the hiring of highly skilled labour. On the other hand, the nature of the digital business is such that start-ups must compete not only with other startups around the world, but also with the largest digital companies globally.

SAVA MARINKOVIĆ CO-FOUNDER OF COMPANY MYSKIN AND DIRECTOR OF COMPANY TELESKIN

RISK AVERSE PEOPLE DON’T BUILD UNICORNS COMPANIES THAT ARE SCALING UP QUICKLY BUT STEADILY ARE IN THE BEST POSITION TO BECOME UNICORNS. TRENDS MAY RAPIDLY ACCELERATE A COMPANY’S GROWTH (LIKE INSTAGRAM), BUT THEY ARE RARER. INCREASING THE NUMBER OF START-UPS REQUIRES AN INCREASE IN A RISK-TAKING MINDSET, AND CONFIDENCE IN PEOPLE THAT THEY HAVE THE ABILITY TO CREATE A BUSINESS

The main challenge for Serbia is a dichotomy of mindsets. There are risktakers and those that are more risk-averse. Start-ups come from the risktakers, who take risks while knowing that they have an idea that generates value better than someone else’s idea. Helping the risk-takers gain the tools necessary to succeed in business planning, forming teams and knowing how to pitch to investors will make Serbia much more successful. Technology is only one path to entrepreneurship, but there are many others in traditional industries. Many mid-level companies are in a very good position to leverage Serbia’s brand abroad -- not necessarily in the West, but in nontraditional markets like those of Asia, Africa and South America. Who are the key actors able to accelerate change? That’s a tough question. Three actors come to mind, depending on the type of new innovation. First, if we have a hardware-based start-up, the Tax and Customs authority have a major impact on how quickly start-ups can build a system and get to market. Delays for start-ups that are prototyping their solutions impacts on their ability to get to market. Second, schools can provide a broader-based education around financial skills and general critical thinking, in order to help train the next generation of value-creation. Entrepreneurs can exist in corporations or within start-ups, but the mindset of smart risk-taking needs to be critically developed across the entire country. While Serbia brings a special mindset and unique approach to problem solving, travel and exposure to international activities brings progress. Finally, the national government can support innovation strategies in a way similar to what China and the UK have done. Focusing on a technical path, like Robotics or AI, makes policies align much more quickly to get innovations into practical hands. All other parts of the government could follow suit (i.e. research facilities, universities, supporting active student travel and internships, military dual-use etc.).

Focus

Start-ups

VLADIMIR TRKULJA CO-FOUNDER AT SEE ICT

WE MUST LEARN TO THINK CREATIVELY CREATING A CULTURE OF INNOVATION IS CHALLENGING, WHETHER GENERALLY IN SOCIETY, WITHIN COMPANIES, OR IN A COUNTRY WHERE THE PEOPLE WHO COMPRISE THAT SOCIETY OR EMPLOYEES LEARN FROM AN EARLY AGE THAT THEY SHOULDN’T INNOVATE, RATHER SIMPLE REPRODUCTION IS VALUED THE MOST In the case that you have a unicorn without a strong start-up community - that’s an anomaly that would be tough to replicate. And the goal of every country, of every start-up community, should be the serial production of unicorns. The number of start-ups a community has isn’t as important as its quality, or the quality of the start-ups included in the community, which is

ŽELJKO TOMIĆ,

CEO OF SOFTWARE DEVELOPER OSA RAČUNARSKI INŽENJERING

I’M READY FOR A MIRACLE IF A POSITIVE MIRACLE CAN HAPPEN IN SERBIA, THEN THAT’S PRECISELY IN THE FORM OF THE START-UP ECOSYSTEM. A MIRACLE, BUT NOT WITHOUT FOUNDATION. I AM AN OPTIMIST AND EXPECT THE APPEARANCE OF A MYTHICAL CREATURE IN SERBIA IN THE NEXT FIVE YEARS. THE SIZE OF ITS HORN, HOWEVER, WILL DEPEND ON THE CIRCUMSTANCES ON THE CAPITAL MARKET A unicorn is a rare, mythical creature. When the term started being used, in the year 2000, to mark start-ups that achieve a value of a billion dollars, it was estimated that only 0.07% of all software start-ups that year would ever reach such a value. Fortune Magazine’s list currently has 174 unicorns. There are various interpretations of this profusion of mythical creatures: from the technological boom to the reinflating of the dotcom bubble of the

January

reflected in the healthy growth and development of these companies, and the spreading of positive awareness regarding the significance of the development of technological entrepreneurship in the country. For the development of successful startup communities, the most important actors are universities, successful local entrepreneurs, large companies, the state, investors and organisations that deal in supporting start-ups. All of them can, within the scope of their activity, speed up the development THE SERBIAN of entrepreneurship and increase the number of MARKET IS SMALL, high-quality start-ups. The best result is achieved when they act in a synchronised way and with a SO START-UPS OFTEN clear goal – which is not something we can boast LACK BUYERS FOR of in Serbia at this moment. However, there have THEIR SOLUTIONS been significant advances in each of the noted AND PRODUCTS categories over the past five years or more. WHICH INEVITABLY Startit has been a pioneer in working with startups and providing support for a very long time, LEADS THEM, while today in Belgrade and other cities there are COMPLETELY several organisations that share this mission. Until CORRECTLY AND a few years ago, major companies ignored the LOGICALLY, TO existence of start-ups, while today ever more comTURN TO THE panies are opting for different forms of cooperation – from jointly innovating their products and GLOBAL MARKET services, to creating new companies with shared resources. There was very little money previously, while today several investment funds of risky and initial capital operate out of Serbia and invest in local start-ups. Serbia, as a country, is very close to its first unicorn. The biggest acquisition of a company that can be said in some way to be Serbian was that of Frame for a sum of around $160 million, which is well on the way to the billion dollars needed to say that a start-up is a unicorn.

‘90s, then to the easily accessible capital that’s turning the world upside down in search of unicorns. If a positive miracle can happen in Serbia, then that’s precisely in the form of the start-up ecosystem. A miracle, but not without foundation. I am an optimist and expect the appearance of a mythical creature in Serbia in the next five years. The size of its horn, however, will depend on the circumstances on the capital market. Essential preconditions for Serbia to increase the number of start-ups include the removal of anathemas from private entrepreneurship, the FOR ME, NEITHER public promotion of positive examples of entreACCESS TO CAPITAL preneurial practises and for entrepreneurship to become an integral part of the education NOR THE TAX SYSTEM system; for the society to build up a tolerance ARE OBSTACLES TO to business failure. THE FURTHER DEWhere are the key challenges and potential? VELOPMENT OF THE Firstly in education: for young people to realise START-UP COMMUNITY, that they can forge their own happiness, for them to learn about entrepreneurship from the ESPECIALLY GIVEN earliest age. Then, in an encouraging innovaTHAT TAX EXEMPTIONS tion, connecting education, science and the FOR BEGINNERS IN economy. Of course, infrastructure developBUSINESS HAVE BEEN ment is implied. The State, through the educaAPPLIED SINCE 1ST tion system, the building of infrastructure and investing in innovation, can accelerate change. OCTOBER THIS YEAR Then there are start-up accelerators and hubs. Let’s recall that by the end of this year we will see the launch of the 7th generation of the Startit Start-up Academy, this time under the patronage of Google. A key role is also played by organisation Digital Serbia, Petlja (Loop) as well as alternative forms of IT education such as that of the Belgrade Institute of Technology. They all create positive changes in society that lead to the accelerated development of start-up ecosystems.

Feature

Resolutions For The Most Successful Year New Goals for a New Year!

new year is a fresh beginning, so new goals naturally fuel your thoughts. Resolutions can be intimidating, but we can take action to achieve those goals by taking on some suggestions as guidance. Do Something You Love This is a critical factor gleaned through interviews with almost 100,000 managers. They narrowed down the questions asked to those that most clearly appeared to define workplaces that are happy, motivating and productive. Ask yourself, “do I have the opportunity to do what I do best every day?” People able to answer this question in the affirmative are more likely to be happy and productive at work, so resolve to be passionate about your work; to do the thing you do best every day. Do Something Just for You Resolve to set time aside for yourself every day. Use it to exercise, relax, reflect, meditate, cook a gourmet dinner, write in a diary, go for a walk with your pet or do any other activity you feel like. Just make sure that the activity differs from what you already do all day long. Give Yourself Credit When You Deserve It It is important that you recognise your

January

own excellent efforts. One way to do this is to maintain a file of the positive notes you’ve received, thank you letters and reminders of your successful ventures. Strive to Learn Something New Every Day Read voraciously in order to continue to learn and grow. Share concepts with colleagues and apply them in your department or organisation. Establish Professional Contacts and Network Look up former colleagues with whom you’ve lost touch and make sure to attend at least one professional meeting per month. You’ll benefit from the friendships and relationships. Practise Professional Courage Step out of your comfort zone. State what you’re actually thinking when you find yourself in this situation – if only once. You don’t have to be rude or argumentative – simply state your opinion quietly, concisely and professionally. Listen More Than You Talk The old adage about one mouth and two ears is true. Strive to listen to everything that your co-workers say this year. They might just want a sounding board, and not necessarily advice or problem-solving assistance.

Track Your To-Do List Using a planner to map your activities enables you to free your mind of much of the daily details that can clutter your thinking. Take up a New Hobby or Activity Maybe this is the year you finally begin that collection from your dreams. Resolve to take the first steps towards participating in something that has always intrigued you and piqued your interest. You’ll add a new dimension to your world, which can impact positively on your business success. Take Yourself a Little Less Seriously You can get bogged down in serious deliberation, advice and problem-solving as you strive for business success, but you should also take time to laugh. Smile when you hear stories about what your crazy employees are doing after hours. You don’t have to be the mature parent figure all the time. Enjoy them for their little quirks and differences. Appreciate the different strengths, skills and experiences they bring to the workplace. Now Keep Those Resolutions Nothing says that you have to tackle ‘all’ these resolutions. Choose those that apply to you most, as well as the ones you’re most likely to stick with.

Leaders’

MLADEN VUKANAC General Manager, Sauter Building Control Serbia

BILJANA TOMOVIĆ BMI Country Managing Director for Serbia and Montenegro

MEETING POINT CHRISTOS ALEXOPOULOS PH.D. College of Applied Health Studies, Ćuprija

Center for Dental Aesthetics and Implantology

Airport City - The “Film set” exhibition

World’s Largest Roofing & Never Compromise Waterproofing Business On Quality

Education As A Business

How Important Is A Smile When Business To Communication? Creates Art

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MLADEN VUKANAC, GENERAL MANAGER, SAUTER BUILDING CONTROL SERBIA

Never Compromise On Quality The Serbian market is capable of recognising quality, and were it not so Sauter wouldn’t have survived this long on the market

toring. An inch of shortcuts in this respect can hinder progress, as quality can only surface as a standard in an adequately regulated market, and this is something we should all insist upon.

witzerland’s SAUTER Group, as one of the leading companies in the field of building automation and green building system integration, provides energy efficiency and control, while automation has the highest importance in green building, says Mladen Vukanac, General Manager of Sauter Building Control Serbia The construction industry in Serbia, particularly in larger cities, is bustling with activity. How do you perceive the standards and procedures employed in Serbia in comparison to other European markets? It is a fact that the construction industry is going through substantial development, and this is indeed something to celebrate. You see, economies descending into crisis always see their building industries suffer, while healthy investments in the building industry are a true sign of prosperity. With regard to procedures and standards, we – as a country – should certainly follow in the footsteps of developed countries, and especially EU member states. Defining standards is a crucial and functional necessity of every market economy, yet the actual application of these standards and procedures in practise is difficult to achieve. This is a process requiring constant moni-

January

How often are building automation and green building system integration used in Serbia and what are the benefits? Sauter is a Swiss company with a hundred years of tradition in building automation. We always like to point out our devotion to the Serbian market. In the former Republic of Yugoslavia, Sauter realised some capital projects like the automation of the “VMA” Military Medical Academy, the Sava Centre and Hotel Jugoslavija. During the ‘90s, Sauter remained committed to the market and was one of the few foreign

We never left the Serbian market and were always the first to bring technical innovation in our domain

companies that had a representative office in Belgrade at that time. Amongst the turmoil of heavy sanctions, we realised projects like the automation of the Vuk’s Monument underground rail station and the NIS office building in Novi Sad. We never left the market and were always

the first to bring technical innovations in our field. Today it is almost impossible to imagine a new building in Serbia without automation, and the green building philosophy is deeply interwoven with our principles and decade-long mission. There are many benefits of green building. Our primary mission is to increase energy efficiency and control the air quality in these buildings. Automation is of the greatest importance in green building; it is essential, if you will, and brings immense benefits during the process of certifying a building that aspires to be classified as a green building. To what extent do the differing economic potentials of the markets you cover impact on the possibilities of applying your exceptionally high standards? High standards go hand-in-hand with quality. Sauter is a company that would never compromise on its quality, regardless of the cost. Our research and development centre in Basel is in the final stages of perfecting our new “Internet of things” solutions that will be available on our market as early as next year. The Serbian market is capable of recognising quality, and were that not so Sauter would not have survived for this long on the market. What I can tell you is that the level of technologies and solutions we employ in projects in Serbia is the same as in any developed EU country. All our clients prefer to plan things longterm, to think several steps ahead; and with this frame of mind, Sauter is the only logical choice.

BILJANA TOMOVIĆ, BMI COUNTRY MANAGING DIRECTOR FOR SERBIA AND MONTENEGRO

World’s Largest Roofing & Waterproofing Business BMI is the only company on a global level providing solutions for both pitched and flat roofs

e believe in the strong customer benefit this holistic approach will bring as it will allow us to focus on the true underlying customer needs, rather than on individual technologies, says Biljana Tomović, BMI Country Managing Director for Serbia and Montenegro, speaking to CorD. How did the merger with such a large system as this come about? BMI Group is part of the Standard Industries family of companies. Standard Industries is a global industrial company with interests in building materials. Our inovative industrial solutions have maintained their enduring value for over a century, and we aren’t resting on our laurels. We believe success relies on us always moving forward. We embrace change as an opportunity to remain agile and unlock possibilities, as we anticipate future needs and build towards them. Besides BMI Group, Standard Industries’ operating companies include GAF, North America’s largest and most advanced residential and commercial roofing manufacturer. Together, we represent the world’s largest roofing and waterproofing business. At the moment we operate 184 manufactur-

ing facilities and 150 sales offices in 80 countries worldwide. On six continents we employ around 15,000 people. BMI Group was established following the merging of Braas Monier and Icopal. Standard Industries acquired the Icopal Group in 2016, as leading pan-European manufacturer of waterproofing and flat roofing solutions. In 2017 Standard Industries acquired Braas Monier, as leading manufacturer of pitched roofing solutions. The combined heritage of these two groups represents a rich history of delivering roofing and waterproofing excellence to customers, brings together some of the

At the moment we operate 184 manufacturing facilities and 150 sales offices in 80 countries worldwide

biggest and most trusted names in the industry and makes us unique. BMI is the only company on a global level providing solutions for both pitched and flat roofs. What part of products do you import for the Serbian market? BMI Serbia and Montenegro is a leading manufacturer of flat and pitched roofing systems in Serbia, with decades of industry experience. We deliver innovative roofing and waterproofing systems, designed to transform the way people live

and work. Providing shelter, protection and peace of mind for architects, roofers, building- and homeowners alike. Our dedicated experts assist with design and project solutions, technical advice and product information for both residential and non-residential projects. Our wellestablished and trusted brands such as Bramac, Villas, Wolfin, Icopal and Monier give BMI Serbia and Montenegro a face to the customer. So far, we have no production facility in Serbia and we import all of our products from neighbouring countries and affiliated companies all across Europe and the U.S. We are constantly striving to improve: by evolving our products, systems and solution, by developing our people and by enhancing our approach to the market in order to deliver exceptional value to our customers. Are you satisfied with operations to date and what are your future plans? Our plan for 2019 is to strengthen the markets’ understanding of the importance and benefits that high-quality building materials and roofing solutions can bring. We are also transforming the way we will address our markets, offering full roofing system for all types of roofs, no matter whether they are pitched or flat. We believe in the strong customer benefit this holistic approach will bring as it will allow us to focus on the true underlying customer needs, rather than on individual technologies. At BMI, it is our ambition to provide roofing solutions that protect what matters most to people across the world.

January

Warning

“What is happening in Kosovo is a warning to us about how harmful the consequences of trade and other blockades can be” – ANA BRNABIC, SERBIAN PRIME MINISTER

LOCAL NEWS JUBMES BANK

SALE OF 28.51% OF JUBMES BANK CAPITAL ADVERTISED

MIND PARK

KRAGUJEVAC GETS ITS FIRST FACTORY The first factory within the MIND Park industrial complex in Kragujevac opened last month – AMM Manufacturing, which produces rail vehicle components, and is owned by Bratislav Milanovic. At the opening, Serbian President Aleksandar Vucic pointed out that 260 workers had been employed at the new facility, in addition to the 600 workers previously employed at the Siemens facility. Germany’s Siemens, which took over Milanovic Inzenjering Kragujevac in early February, will operate within the MIND Park. So far, the first factory of MIND Group, an aluminum processing facility, has been completed, and the construction of another one, which will process steel, has begun and should be completed in March 2019. source: ekapija.com

The Ministry of Finance of Serbia opened the call for collection of bids for the sale of 28.51% of the capital of Jubmes banka a.d. Beograd. Letters of intent with binding bids are to be sent by 9th April 2019. The total assets of Jubmes Bank amount to around €120 million, the total capital is around €30 million, and the bank has two branch offices. The share capital offered consists of regular shares owned by the Republic of Serbia and the shares of the banks in bankruptcy in which the Deposit Insurance Agency is the bankruptcy supervisor. Interested parties will be provided with access to data in order to carry out a legal-financial analysis of the bank’s operations, and the service will be available until 24th January 2019. source: ekapija.com

CALZEDONIA

NATIONAL BANK OF SERBIA

KEEPING THE KEY POLICY RATE STEADY The Executive Board of the National Bank of Serbia (NBS) voted to keep the key policy rate steady at 3.00%, where it has now been since April. At its latest monetary policy meeting, the Bank judged its current monetary policy stance supportive of overall price stability, while also buttressing strong economic momentum. Inflation continued to remain comfortably within the target band of 1.5%–4.5% in October (October: 2.2%) and the NBS expects it to continue to move within the target band over the next two years. Moreover, the recent decline in global crude oil prices will factor favorably into the inflation outlook. Regarding the solid economic showing, the Bank referenced the effects of previous monetary policy easing and the investment impetus. While the communiqué lacked clear forward guidance, the NBS continued to stress that downside risks to the economy stem primarily from the external backdrop.

KONSTRUKTOR

OPENS FIFTH FACTORY IN SERBIA

THE BEST CONTRACTOR IN 2018

Italian apparel company Calzedonia has opened a production plant in Kula, in northern Serbia. The new factory, Calzedonia’s fifth in Serbia, will have 300 employees and will contribute to the acceleration of Vojvodina’s economic growth, the provincial government said in a statement. “We believe that the future of Serbia and Vojvodina is bright, which is why we are expanding our production,” the president of Calzedonia, Sandro Veronesi, said. Calzedonia has 3,500 employees in Serbia working in four factories, all of them located in Vojvodina. source: seenews.com

The company Konstruktor was awarded for “Best Contractor in 2018” by CIJ, CEE & SEE, a European digital and printed real estate service. CIJ Awards are credible awards for “real estate” businessmen in Serbia and the region of Southeast Europe .Konstruktor presented the buildings built in the past year, such as Lidl-the most modern business building, Stop Shop Vrsac-retail park, Green Avenue-business /residental complex, Proteam Logistics Center. In addition to “CIJ awards” for the best contractor in 2018, in the past 12 months, Konstruktor also received the “Golden Gazelle of Serbia” award for the fastest growing company in Serbia, awarded by BISNODE, also the “AAA” rating of credit rating excellence, as well as new “Excellence” business certificate.

January

Agreement

“I am still convinced that the Belgrade-Pristina dialogue could go on despite the current difficulties. Two sides are able to reach a legally binding agreement to normalize their relations, but is was up to Belgrade and Pristina, not Brussels” – FEDERICA MOGHERINI, EU’S HIGH REPRESENTATIVE FOR FOREIGN AFFAIRS CBS INTERNATIONAL

RECORD YEAR ON THE REAL ESTATE MARKET

SBB

AWARD FOR EON The SBB company has won this year’s Iskorak Godine (step forward of the year) award for its EON set top box which connects television content with Android TV digital services and applications, turning every TV into a Smart TV. The award is traditionally given by the Serbian Association of Managers for unique technological innovations. The integrated Eon platform brings a completely new era of television to the market, allowing users to watch all channels on offer by SBB, advanced functions and Android services such as You Tube, Google Play Music, downloading and playing games from Google Play Games and thousands of other apps from the Google Play Store. PRELJINA

WIELAND ELECTRIC PLANNING TO BUILD NEW FACTORY IN PRELJINA

The representatives of Wieland Electric, Oliver Eitrich and Ulrich Schaarschmidt, while visiting Čačak, announced hiring more workers by the end of the year. They also met with Čačak Mayor, Milun Todorovic to discuss the construction of a new production facility in the industrial zone in Preljina, where they expect to employ around 600 new workers. At the meeting with the representatives of the local government, they expressed their satisfaction with the beginning of the production process, the good choice of the workforce and the good cooperation with the town authorities. To remind, Wieland Electric Serbia launched their production in a rented space on 8th October 2018, and has so far employed 50 workers out of the 300 people that sent job applications. source: serbianmonitor.com

The leadingreal estateconsultancyCBS International, part of the Cushman&Wakefield Group, is ending the year 2018 with positive assessment of the real estate markettrends in the upcoming period.According to their estimation, the current number of construction sites in Belgrade is significantly higher as compared to the past five years, and we can mark the current year as remarkably good as per the number of realized investments.By the end of the year 2020, Belgrade will, with the finalization of the office development schemes currently under construction, reach 1 million square meters of office space in its offer, whereas in the total number of transactions realized by the agencies in the first three quarters of 2018, CBS International accounted for 65% of lease and sales acquisitions. Equally so, Belgrade retail market will double its offer with the construction of three shopping malls in the next two years, which will enable the expansion of the present as well as arrival of new brands. IT

SERBIAN TECHNOLOGY MOVED PART OF PRODUCTION TO CHINA Many Serbian technology companies, together with their partners, have already installed a part of their manufacturing in China. And this has proven to be “a very good commercial move.” Mihailo Vesović, an adviser to the president of the Serbian Chamber of Commerce, said this, and added that Chinese companies will support Serbian firms when they digitise part of their production or move over completely to “industry 4.0, digitisation.” According to him, this is about new technologies that are being developed in Serbia and which can, together with large Chinese companies, be placed for mass production in China. Asked whether the Belgrade Technology Park, to be built in cooperation with China, will compete with the existing Scientific-Technology Park, Vesovic said that this investment will be only an additional opportunity to create successful companies that will be the carriers of new development technologies. He said that large companies are looking for start-ups that will develop new technologies in the future. “It’s possible that today a new company will be created that will destroy a big one, which has been around for 100 years old and which we thought was indestructible,” Vesovic added. Source: Tanjug WORLD BANK

READY TO INVEST UP TO €300 MLN IN 4 PROJECTS IN SERBIA

The World Bank plans to invest up to €300 million in four projects in Serbia next year - in agriculture, trade, tax administration and digitalisation, the lender’s country manager for Serbia, Stephen Ndegwa, has said. The bank has additional projects with a combined value of 300 million euro in the pipeline and has so far spent €800 million out of the €1.8 billion envisaged in the five-year investment plan for Serbia, Ndegwa said. The 2019 draft budget adopted by the government represents a step towards further economic growth, as it keeps the fiscal stability, while at the same time increases investment by about $300 million, the World Bank country manager for Serbia noted. Source: seenews.com

January

CHRISTOS ALEXOPOULOS PH.D., COLLEGE OF APPLIED HEALTH STUDIES, ĆUPRIJA

Education As A Business Foreign students’ economic contribution In this anniversary year that marks the 20th year of the existence of the College of Applied Health Studies in Ćuprija, we spoke with the college’s director and professor of vocational studies, Christos Alexopoulos Ph.D.

resenting key points of the college’s policy for attracting foreign students who provide a beneficial contribution to the state economy, director Alexopoulos also revealed plans for 2019.

Statistics show that numbers of foreign students in Serbia have fallen drastically over the last 30 years. What do you think is the main reason for this? It is estimated that there were around 30,000 foreign students in Serbia during the 1980s, with costs here significantly lower compared to Western European countries and with Yugoslav universities enjoying a good reputation and top experts as educators. The most popular colleges were in Zagreb and Belgrade. Today, compared to those bygone times, the number of foreign students in Serbia is low. It is estimated that there are fewer than 2,000 foreign students at this moment. The main reason is war. After the collapse of the former country, numerous interstate treaties ceased to be valid, and there was no interest in studying in a country on which sanctions had been imposed. Why do you think the circumstances can be different at this moment?

January

I believe that the policies of President Aleksandar Vučić guarantee the country’s stability. The image of his cabinet governing the economy is similar in education. We intend to copy the pattern from the national economy. The president welcomes German companies, so we welcome students from all over the world. Moreover, experience has shown that recommendations are the best advertisement, so foreign students can later bring each other. Our country has lots to offer. Our accredited colleges are

The College of Applied Health Studies in Ćuprija is starting to implement European directives, contributing to some extent to Serbia not delaying on accession to the European Union still highly rated, and the total cost of study is lower. Annual tuition fees for foreign students range from 1,000 to 5,000 euros. The Diploma of the Medical College can be notified for work in America. The same diploma that would cost you $500,000 in the U.S. is five times cheaper here. Apart from the state, what is your institution’s strategy and what are your plans for 2019?

I would emphasise two crucial points. At this moment, the most important thing is that we integrate into European flows. The College of Applied Health Studies in Ćuprija is starting to implement European directives, contributing to some extent to Serbia not delaying on accession to the European Union. We also support the Ministry of Education’s project to encourage foreign students to come and invest their knowledge in Serbia, which will certainly result in improvement for the Serbian economy. In that regard, a delegation of our college recently visited the Faculty of Health Studies of the University of Rijeka, which has study programmes that already comply with EU Directive 55/13. We plan to make the necessary preparations in 2019 and to establish cooperation with this institution, which is more experienced and which can teach us what steps to take in order to implement directives in a timely manner. We will soon submit new curricula for accreditation and we want them to be based on these directives. Another very important element is the implementation of the digitisation process. At the College of Applied Health Studies in Ćuprija we have provided the necessary equipment, such as a multimedia classroom, server room, optic cables and the like, so that students can master the IZIS program, which is used in hospitals and other health institutions.

CENTER FOR DENTAL AESTHETICS AND IMPLANTOLOGY

How Important Is A Smile To Communication? We are all aware of the importance of smiling in our private lives. We show smiles to our loved ones and others in our surroundings when we’re happy, when greeting someone with “Good morning”, or during friendly or emotional chats in a bar or restaurant. A great day is always filled with plenty of smiling and lots of good energy. In our private lives, our smile is almost always reciprocated, at least if those around us feel our energy

owever, in our professional, business or diplomatic lives, we don’t always receive the same feedback. Why is smiling so important in our professional life? It is today common knowledge that a person with a nice and attractive smile is probably on the right road to personal and professional success or – vice verse – someone with an unattractive and visually problematic smile is somehow hampered on their road to social recognition. Such people, although often very talented and highly skilled, hide their smiles through strange facial expressions, creating suspicion with regard to their communicational capabilities. What is the importance of smiling in communication? Smiling allows people to perceive you as a happy person, whether it comes as part of verbal or non-verbal communication. Then, when approaching someone while wearing a smile on your face, you are telling that person that you’re friendly through your body language.

As there is no second chance to make a good first impression, smiling is of great importance to the communication process. Considering that we meet strangers on a daily basis, and try to establish the kinds of relations needed to achieve professional success with them, we would be well-advised to maintain or establish the appearance of a great smile. Those who already have an attractive smile could always benefit from regular professional hygienist treatment and possible teeth whitening. Those whose smile isn’t so

enticing could really benefit from modern dental techniques and protocols that have significantly raised the quality, predictability and overall possibilities of change. Great digital diagnostic possibilities, 3D print technologies in orthodontics, implant planing and restorative work, new ceramic materials and microscopic magnification could all lead to great post-treatment satisfaction. The duration of most of these treatments is also shorter than previously! So, if you find yourself somewhat dissatisfied with the aesthetics of your smile, don’t hesitate to visit an expert dental office and discuss treatment possibilities. You’ll probably be amazed by the overall improvement in treatment options and concepts. If you let experienced professionals deal with your problem, you might experience a tremendous change in your overall quality of life, both privately and professionally. It is worth taking the first step! Dr Igor Ristić www.drristic.com

January

Candidate

“Around 400 Hungarian soldiers currently serve in KFOR. Hungary also wants to put forward a Hungarian candidate for the next command post” – PETER SZIJJARTO, HUNGARIAN FOREIGN MINISTER

REGIONAL NEWS ALBANIA

FERRO-CHROME AMONG WORLD’S HIGHEST QUALITY

MONTENEGRO

NEW DECORATIONS FOR BUDVA - €50,000 The City of Budva will be decorated with all sorts of Christmas decorations and lights until mid January, with €50,000 having been allocated from the City budget for the adornments that were installed at the beginning of November. Rade Bauk, director of Budva’s public utility company, confirmed that the installation of festive decorations and lighting began at the beginning of November and that, in agreement with the authorities of the Budva municipality, the lights will be formally turned on collectively on 1st December. The main decorations are located along the main road leading to the Old City of Budva, as well as on the square around the ancient walls of the Old City. In addition, the main boulevards are decorated festively, as is part of the embankment in the City of Petrovac. Plans are for Budva, Petrovac and Montenegro’s other coastal towns to remain decorated until mid-January.

Over 12 million tonnes of Ferro-Chrome is currently produced worldwide every year. A huge part of this production comes from large countries with countless resources, like South Africa and China, while other significant chromium and ferrochrome manufacturers include Kazakhstan, India and Russia. Via company AlbChrome, Albania’s product is currently exported to 52 countries worldwide, while Europe remains its main market – where the most developed industrial countries have the biggest share of imports of this item from Albanian. Albania is ranked high among the group of countries worldwide with the highest quality desposits of this mineral. Alongside Albania, the list also features countries like Sweden, Kazakhstan, Turkey and Russia. AlbChrome’s decision to focus on quality rather than reduced costs and the blind goal of profit has enabled it to achieve the highest parameters in extracting the final product.

BOSNIA-HERZEGOVINA

HYDRO-POWER PLANT ‘DABAR’ TO COST €200 MILLION Hydro-Power Plant Dabar has selected a consortium led by AF-Consult Switzerland Ltd. in a tender to provide legal, financial and technical advisory services in the process of awarding a turnkey/engineering, procurement and construction (EPC) contract for the 160 MW Dabar Hydro-Power Plant (HPP Dabar). The consultant will be paid BAM 1,897,155.10 (around €972,000), excluding HPP DABAR HEAD-RACE VAT, according to the documentation available via the ‘Hidroelektrana Dabar’ TUNNEL CONSTRUCTION website. The value of the project to build and finance HPP Dabar’s remaining facilities is estimated at around €200 million, according to the text of the invitation for EOIs, as posted by HET. Under the preferred financial model, HPP Dabar’s future project partner would secure a loan to cover at least 85% of the project costs against a guarantee from the government of Bosnian entity Republika Srpska. The loan would be repaid in cash or electricity over a 15-year period, following a four-year grace period. According to the text of the invitation, the interest rate would be around 3%. HPP Dabar, which would cover the remaining project costs from its own sources, would own 100% of the 160 MW hydro-power plant on the river Trebišnjica.

January

10 WAYS

TO HAVE A MORE RELAXING FESTIVE SEASON THIS YEAR As we all know, the Christmas and New Years’ holidays are a time for family, fun and relaxation. Or so the theory goes, because for a lot of us the festive season also brings with it all manner of things to take care of, from buying and organising gifts and food, to taking care of kids and in-laws. In short, the festive period can be stressful if we’re not careful. Here are ten ways to de-stress this season. 1. Plan time for yourself 2. Go outdoors 3. Beat the rush and breathe easy 4. Treat yourself to some serious spa therapy 5. Simplify your seasonal decorations 6. Indulge in classic games and pastimes 7. Don’t overcommit 8. Do a good deed for someone 9. Get into the spirit with a real vocal choir 10. Take Christmas Day off, or plan the perfect festive escape

Recognition

“We resisted taking this measure for a long time now, but there was no other way out. The tax will be removed with full normalisation, and full normalisation means recognition” – RAMUSH HARADINAJ KOSOVO’S PRIME MINISTER CROATIA

CROATIAN BANKS DOUBLE PROFITS IN 2018

BULGARIA

TOP EUROPEAN HOLIDAY DESTINATION FOR BRITS The travel trends list of the Association of British Travel Agents (ABTA) reveals that Bulgaria is top of the list when it comes to European destinations, with a 30 per cent increase in bookings for 2019. Bulgaria was named as the cheapest place for a summer holiday last year by M&S Bank - and this year it’s been even cheaper. Research showed that family holidays are 1.4% cheaper this year than in 2017, a saving of €63, with Sunny Beach in Bulgaria coming out on top. Greece has also had a rise in bookings, with a six per cent rise. A holiday there for a family of four will cost €3,515 all inclusive, which works out at €820 for flights, accommodation, food, drinks and activities for seven days and nights. The UK Post Office also early this year named the island of Corfu as one of the best-value destinations in Europe for a getaway, with prices down 24.2 per cent.

In the first nine months of last year, banks in Croatia achieved pre-tax profits of 5.25 billion Kuna (€709 million), double the profits earned in the same period last year. The Croatian National Bank (CNB) has published the profit and loss accounts for banks in the country this year, confirming that this has so far proven to be an extremely profitable year. In the first three quarters of this year there were 23 active banks in Croatia, which is three less than last year – with two banks having entered into voluntary liquidation and one opened bankruptcy proceedings. Figures from the CNB show that banks in Croatia increased their profits, from January to the end of September, by a healthy 99.7 per cent, or around 2.62 billion Kuna (€354 million).

HUNGARY

KONZUM-OPUS MERGER APPROVED Shareholders of listed holding companies Opus Global and Konzum approved the proposed merger of Konzum with Opus at shareholders meetings last month. All of Konzum’s assets will be transferred to Opus, which will act as the company’s legal successor, while Opus will continue to operate as a public company. Opus and Konzum announced their merger plans in October, and the acquisition is expected to be finalised by 31st March 2019. Both companies are controlled by billionaire investor Lőrinc Mészáros, a long-time friend and ally of Hungarian Prime Minister Viktor Orbán. In the October announcement, the management estimated market capitalisation of the future merged company would reach HUF 350-400 billion €1.08-€1.2 billion), while combined net assets will exceed €988 million. The merged company’s EBITDA is targeted at €926.5mln. A presentation posted along with the October announcements showed the merged company’s annual revenues climbing to exceed €617.2 million in 2019, which is more than double Konzum and Opus’s combined turnover of €237.8 million over the past twelve months.

ROMANIA

WHERE ARE ROMANIA’S BEST PAID EMPLOYEES? Bucharest is no longer Romania’s only development centre, attracting all investments and big businesses in the country. Some areas of the country have developed faster than the capital in recent years, the most significant of which being Cluj-Napoca and its surrounding area. However, Bucharest remained the largest employer nationwide in 2018, with more than a million employed workers, while the workforce shortage faced by companies has pushed wages up. According to Paylab.ro, a salary comparison site launched by local recruitment platform eJobs, the monthly average net salary in Bucharest stands at €580. The second among top cities with the highest salaries is Cluj-Napoca, with an average monthly salary of €567. Timiş, in Western Romania, is also close, with an average net wage of €565. Elsewhere, the average salary is €551 in Alba, €540 in Harghita and €534 in Brasov and Sibiu.

January

AIRPORT CITY - THE “FILM SET” EXHIBITION

When Business Creates Art

MLICA MIHAJLOVIĆ LOOKING AT PHOTO OF HER

The “Film set” exhibition offered original photos of our most famous actors produced in only one copy and featuring their signature- all revenue intended for FDU

fter a series of very interesting and creative strides taken in recent years, the CSR activities of Airport City Belgrade proved even more challenging this year, both for the ordering company and the talented youngsters who worked on the ‘Film set’ project. With the decision to support the University of Belgrade’s Faculty of Dramatic Arts, which marked its 70th anniversary in 2018, and this elite business centre, the idea was launched to provide young people with their first professional engagement via an opportunity to express themselves artistically in the city’s most modern business space. “We recognised this cooperation as a

January

completely natural relationship. Airport City, as a hub where business is done, also provides an opportunity for us to help young people and provide the advantage of experience to their creativity and business start in life. The FDA has several departments that educate students in

Our most famous actors, alumni’s of FDU, were prepared to take the time to come to Airport City and pose for their young colleagues in this unusual ambience that isn’t linked to them

areas that are close to us, in the sense that it’s necessary for every brand to be heard about and seen. As such, that which they apply, in terms of visual arts, is precisely that which we come into contact with every day. From a website, to a bespoke film, an exhibition etc.,” explains Airport City communications advisor Marina Deleon. The whole of 2018 unfolded in cooperation with the Belgrade Faculty of Dramatic Arts. The idea wouldn’t have succeeded if it hadn’t been supported wholeheartedly by Airport City CEO Adir El Al, while the students received from him only one instruction: Go ahead and present yourselves! And they were granted complete freedom.

MARINA DELEON AND BUYER

“It was fantastic cooperation with extremely liberated and creative young people, for whom this one this sudden opening up of space that was previously unknown to them. It was obviously a fantastic experience for them. Two teams from FDU produced excellent corporate films for ACB, guided by their Dean Miloš Pavlović. This was now followed by an exceptional calendar and exhibition, with which Airport City will mark the end of 2018. “The photography department is also close to us, because from day one we’ve been building a very careful relationship towards our facades, given that they represent a very photogenic space that’s inspiring for many artists’ The students also started with different ideas. In the end, it turned out that their older colleagues, our most famous actors, were prepared to come and pose pro bono for their young colleagues at Airport City. And that’s why the project was named “Film set”. ACB sponsored necessary equipment and technical requirements, and they created a truly professional set mentored by professor Aleksandar Kostić. When in Airport City they saw how fantastically it all turned out, they decided to take the next step –to offer these beautiful unique photos signed by actors

VANJA EJDUS WITH DAUGHTER

AIRPORT CITY CEO ADIR EL AL AND FDA DEAN MILOŠ PAVLOVIĆ

to business partners and the companies with which they cooperate, and all revenue generated is intended for the Faculty of Dramatic Arts. As the Dean said, it is essential for their university to keep up with modern technology, which is very difficult for a State-financed University. It was a splendid event marking the end of 2018. And, as Airport City CEO El Al and Dean Pavlović agreed in their address, when given the right support

and trust, plus the freedom to express themselves, these talented youngster couldn’t fail to produce results!

January

Future

“No dream is too big. No challenge is too great. Nothing we want for our future is beyond our reach” – DONALD TRUMP, U.S. PRESIDENT

WORLD NEWS CHINA

HONG KONG STILL THE WORLD’S MOST VISITED CITY

USA

ALTRIA TO ACQUIRE CANNABIS COMPANY CRONOS GROUP

Hong Kong has been declared the most visited city in the world for the eighth consecutive year, beating off challenges from the likes of London, Paris and New York, according to the “Top 100 City Destinations 2018”, a survey conducted by global market research company Euromonitor International. Some 52.57 million tourists visited Hong Kong between January and October 2018, 78.4 per cent of whom, or 41.29 million, were from the Chinese mainland. This total represented growth of 13 per cent among Chinese visitors, but also a 0.9 per cent decline in visitors from elsewhere. The new poll highlighted the top 100 cities on the basis of 2017 statistics regarding international arrivals, which define visitors as any person spending at least 24 hours and not more than 12 months in another country. Other mainland Chinese cities also figured in the top 100, with Guangzhou ranked 18th, Shanghai 26th and Beijing 54th.

Marlboro cigarette maker Altria is in the early stage of talks to acquire Canadian cannabis producer Cronos, as it seeks to diversify its business beyond traditional smokers. The news comes as Altria is also eyeing a significant minority stake in e-cigarette company Juul, as both the cannabis and e-cigarette industries experience growth. Total demand for cannabis, counting both legal and black market sales, is approximately $52.5 billion. Meanwhile, the e-cigarette market is projected to hit sales of $6.6 billion in the U.S. this year. SWITZERLAND

PARLIAMENT PASSES SALARY EQUALITY LAW Women in Switzerland earn about a fifth less than men, according to the Federal Equality Office. Now companies with over 100 employees will have to conduct regular salary equity checks, thanks to a new law passed in the Swiss Parliament. Supporters see this as a major step towards combatting gender discrimination in the workplace. The House of Representatives agreed on the salary equality law nearly three years after the bill was introduced, with 99 votes in favour, 88 against, and four abstentions. The Senate approved the law in May. With this decision, Switzerland joins a select group of countries that have started mandating reporting on the gender pay divide.

January

10 DO’S AND DON’TS OF THE OFFICE CHRISTMAS/NEW EVE PARTY

The season of office Christmas or New Year’s Eve parties is now in full of swing. But do you know the correct etiquette for handling this annual get-together? It includes things like eating before you go, avoiding romantic encounters and networking with your fellow colleagues. Here we offer a list of the top 10 ways to stay out of trouble at this year’s office bash. 1. Attendance is key 2. Eat before you go 3. Network 4. Avoid romantic encounters 5. Keep your opinions to yourself 6. Don’t drink too much 7. Don’t be memorable for all the wrong reasons 8. Don’t flirt with the boss 9. Thank the host 10. Know when enough is enough

Builder

“China will always remain the builder of world peace, a contributor to global development, and an upholder of the international order” – XI JINPING, PRESIDENT OF CHINA

WORLD

UNILEVER TOPS NESTLE BY $1 BILLION IN SWANSONG HORLICKS BID

KIRILL DMITRIEV, CEO OF THE RUSSIAN DIRECT INVESTMENT FUND

RUSSIA

JOINT RUSSIAN-SAUDI FUND TO INVEST TWO BILLION DOLLARS CEO of the Russian Direct Investment Fund, Kirill Dmitriev, has said that Saudi Arabia has confirmed its interest in participating in several infrastructure projects in Russia. “Saudi Arabia confirmed its interest in participating in several infrastructure projects presented by RDIF, and we plan to invest another $2 billion from the joint Russian-Saudi fund in Russia in the next year,” said Dmitriev, noting that twelve projects – related to petrochemicals, logistics and similar – are also in the pipeline. He also noted that the volume of Saudi investment was already significant. “Two years ago, Saudi Arabian investments stood practically at zero, while now they exceed $2 billion.”

Unilever’s departing CEO, Paul Polman, agreed - in a major push into India that may be his last deal - to pay around a billion dollars more than his closest rival for GlaxoSmithKline Plc’s consumer business in the country, according to insiders. The Anglo-Dutch conglomerate agreed to pay €3.3 billion in cash and stock from its Indian subsidiary to take control of the consumer business, which includes famous malted milk drink Horlicks, while Nestle SA’s offer was lower. One of Polman’s last acts as CEO was attending a capital markets day in India with the rest of his executive team. Under Polman, Unilever thwarted a takeover bid from U.S. rival Kraft Heinz Co. in 2017 and sold its spreads business to private equity firm KKR & Co. for $8.1 billion later that year. According to data compiled by Bloomberg, the India deal is the company’s third-largest acquisition since Polman took over as CEO in 2009.

SHELL TO LINK EXECUTIVE PAY TO CARBON REDUCTION Petroleum giant Royal Dutch Shell is set to link the salaries of its executives to carbon emissions targets, following pressure from investors, including the Church of England Pensions Board. The corporation is still in talks with investors over the precise figures of carbon targets and what percentage of pay might be impacted, but it is estimated that as many as 1,300 high-level employees could be hit by this change. The Church of England, under the leadership of Archbishop of Canterbury Justin Welby, has led the way in pressuring the companies in which it invests to adopt a more ethical strategy – particularly with regard to fossil fuels. In a bid to combat climate change, the World Bank also recently announced that it is to make $200 billion available to fund action from 2021-25 that will help countries adapt to the impact of warming and reduce greenhouse gas emissions.

WORLD

AMAZON - WORLD’S MOST VALUABLE COMPANY Amazon, the online shopping giant, has overtaken Microsoft as the world’s most valuable company, after the software giant itself ousted Apple, ending the iPhone maker’s five-year run at the top. Shares in Amazon rose 4.7%, giving the company market capital of $865 billion. The news follows a major downturn in trading across tech shares in recent weeks. Amazon’s value surpassed $1 trillion earlier this year, before so-called FAANG stocks (Facebook, Amazon, Apple, Netflix and Alphabet) tumbled in November. All five companies are yet to fully recover their share prices.

January

Entrepreneur

SHAHID KHAN

From Dishwasher

To Billionaire

He’s now one of the richest people in the world, but when Khan came to the US from Pakistan, he worked as a dishwasher while attending the University of Illinois. Khan now owns Flex-NGate, one of the largest private companies in the US, the NFL’s Jacksonville Jaguars, and the soccer club Fulham 44

January

Khan (68) known to friends as Shad was born in Lahore, Pakistan. He moved to the United States at the age of 16 with dreams in his eyes. Khan became a US citizen in 1991 with the aim to be an architect. Khan knew that one has to work to turn your dreams into reality, and towards this end, he washed dishes in restaurants at the rate of $1.20 per hour to pay for his expenses. Simultaneously he did his graduation in B.Sc with Industrial Engineering from Illinois UIUC College of Engineering in 1971. Whilst at University, Khan worked for auto parts supplier Flex-N-Gate, a company that designed car bumpers. He eventually went on to become an engineering director of the company. His fortune first started to develop in 1978 when he set up his own company, Bumper Works, which he eventually joined with his former employers after purchasing them in 1980. He was the pioneer of Bumper Works; this division specialized in making car bumpers for customized pickup trucks and body shop repairs. In 1978 he purchased Flex-N-Gate developing company both through acquisitions and through innovative approaches to manufacturing bumpers and other plastic parts for the automotive industry. He made his fortune by developing a one-piece car bumper that became the industry standard in America. Last year he was thought to be worth more than $8.7 billion, making him the 158th wealthiest person in the world. As of 2011, the company boasted 12,450 employees and 48 manufacturing plants in the United States and many other countries. Even while Khan was studying at the University of Illinois, he had embarked on his path towards realizing his dreams. His first career stint was with Flex-N-Gate. Having bought Flex-N-Gate in 1980, Khan, in a period of just nine years, made his company the only supplier for the entire Toyota line in the United States. In 2012, Forbes magazine featured him on its front cover. Khan symbolises what is known as “the face of the American Dream”. Khan made his first venture into sports

SHAHID KHAN AND HIS WIFE ANN KHAN

He made his fortune by developing a one-piece car bumper that became the industry standard in America. Last year he was thought to be worth more than $8.7 billion, making him the 158th wealthiest person in the world in 2010 when he attempted to purchase the majority of NFL franchise St. Louis Rams but was ultimately unsuccessful. Almost two years later however, he became the first member of an ethnic minority to purchase an NFL team as he agreed a deal to buy the Jacksonville Jaguars. An agreement was entered upon to acquire 60 percent of St. Louis Rams. However, the minority shareholder, Stan Kroenke, put a spoke in the

wheel, by exercising a clause in his ownership and the agreement was nullified. Not one to put down his weapons, Khan agreed to purchase the Jacksonville Jaguars from Wayne Weavers, following the approval of NFL in 2011. The deal worth $760 million materialized in the same year, and the sale was finally completed in 2012. Khan is presently on the board of the NFL Foundation. In 2013, the Khan dealt with a major organizing push by the United Auto Workers union (UAW ) at the company’s plant in Arlington, Texas, and at several other plants. The union accused the company of underpaying workers and exposing them to hazardous working conditions. Eventually, the UAW reached a contract agreement with Flex-N-Gate. The UAW currently represents about 40% of Flex-N-Gate’s U.S. hourly workforce. Khan’s thirst for success was boundless, and in 2013, he once again started negotiations to purchase the London Soccer Club Fulham. His first appearance in England was the same year when he agreed a deal

January

Entrepreneur to buy Fulham from former His superyacht, the 100-meowner Mohamed Al Fayed. The tres Kismet, built by Lurssen in purchase was ratified for a fee 2014, is as spectacular an examreported to be in the region of ple of state-of-the-art shipbuild€200 million. Fulham however ing as can be had. The Kismet, were relegated that season with available for weekly charter for Khan attempting to get them an eye-watering $1.2 million per back into the Premier League week, was cruising Italy’s coastever since. line with entertainment royalty This year Khan announced and near-billionaires the Carter purchase of Wembley stadium, family – aka Jay-Z, Beyonce, and what could lead to increase in the children – aboard. They are in a number of NFL games hosted in long queue of the well-heeled London, raising the profile of the charter clients who have enjoyed Jaguars, not one of the league’s Mr. Khan’s sense of extravagance. historically popular franchises, Khan is very well connectboth in the UK and back in the ed person, and in his friends he US. He also could potentially counts as well another Khan of own naming rights to the staPakistani heritage, Sadiq, the dium once the FA’s current deal Mayor of London. with EE expires in 2020. Khan married his college He also reaffirmed his comsweetheart Ann Khan in 1977. mitment to Fulham despite the They had met for the first time purchase of Wembley. at the college bar and had forged “To be clear, this venture is an everlasting bond. and have 100 per cent independent of my been married for 31 years. On the investment in and operation of educational front, she is a HomeFulham Football Club (FFC), FORMER FULHAM OWNER MOHAMED AL FAYED AND SHAHID KHAN wood-Flossmoor graduate. Both Motspur Park and Craven Cotof them continued their further tage. No less attention will be paid to deeducation at the University of Illinois. They veloping players and fielding a squad that now live in an owned penthouse in Chiwill win with frequency and always make cago.Married for 31 long happy years, the His superyacht, the you proud. It will have no impact on Cradashing couple is blessed with two children, 100-metres Kismet, built ven Cottage as the home of FFC. And this Tony and Shanna. by Lurssen in 2014, is as is imperative to know, and I encourage you Tony is the eldest son. He graduated to spread the word – absolutely nothing from University of Illinois Laboratory High spectacular an example of changes in our plans to redevelop the RivSchool. He currently works as the senior state-of-the-art shipbuilding erside Stand.” VP of Football Technology and Analytics as can be had. The Kismet, In the same statements, Khan also confor the Jaguars, taking up the role for the available for weekly charter third season. Tony Khan also manages two firmed that Wembley would remain the home of the England national team. He of his father’s newest ventures; Bio-Alterfor an eye-watering $1.2 said: “Always know Wembley would be natives and Smart Structures. He is an avid million per week home to the England national teams, and sports fan and pet lover. that we would strive every day of the year to Shanna Khan is known to support a came from its London game, and the recent be the best possible steward for a venue that number of philanthropic causes like the opening of the Daily’s Place amphitheater is iconic and beloved here and throughout University of Illinois’ Division of Intercoland the Jacksonville Shipyards property the world.” legiate Athletics, the Spurlock Museum and — which Khan was recently picked to deKhan’s vision erases borders — both Krannert Center for the Performing Arts. velop — should be a tremendous boon to geographically and with his businesses. Last She is currently working as a district aide the economy and the Jaguars. season 15% of the Jaguars’ local revenue for a congressional representative.

January

PROFILE

Pioneer In Express Parcel Deliveries As the owner and director of company “D Express”, which represents a leader in courier services in Serbia, Ljiljana Karaklajić is the only female owner of a courier service in Europe, and she currently employs 1,105 workers and boasts more than 19,000 registered clients. Although many doubted the potential of this work, Ljiljana showed the opposite to be the case, and this is the most common disrupting principle when it comes to female entrepreneurship – doubts and a lack of support from the community

LJILJANA KARAKLAJIĆ, OWNER AND DIRECTOR OF ENTERPRISE “D EXPRESS”, BELGRADE

’ve been connected to postal services since my teenage days, when I attended the PTT school. As a young woman at the beginning of my career, it meant a lot to me that I took my first steps in business at public enterprise PTT Srbija specifically. Alongside learning and progressing, I advanced to managerial posts of big post offices and there spent the first 20 years of my career. After so many years, the time came to take a risk and transition to the private sector, where – together with the then owners of the company to which I’d moved to work for – I became a pioneer in express parcel deliveries, as the director of the first private postal operator. Many then doubted the profitability of the courier service and asked me why I needed that, but I didn’t give it a second thought. Of the five workers we then had, myself included, over five years we grew into a successful company with just over 500 employees. A planned sequence of circumstances led to this company being sold to a foreign company,

and I decided – encouraged by the initiative of the employees – to take the greatest risk in my career to date. I left my managerial position in what was by then a foreign company and in 2009 set up my courier delivery service – Daily Express. The great world crisis was then at its peak, so again many asked me “where are you going now?”. I was given a wind in my sails by the 165 workers who joined me in this new business venture. As we approach the tenth anniversary of our operations, I can’t help but look back at how much we’ve achieved in the meantime – D Express today boasts over 1,100 employees, has services covering the territory of Serbia and is

As we approach the tenth anniversary of our operations, I can’t help but look back at how much we’ve achieved in the meantime – D Express today boasts over 1,100 employees, has services covering the territory of Serbia and is taking its first steps on the international market

taking its first steps on the international market. We’re the owners of a modern logistics centre with an automatic sorter for shipments that no other courier service in this part of the Balkans has, and when it comes to IT infrastructure we can be the envy of great world players. We have over 600 of our own vehicles and serve more than 20,000 customers. I’m grateful to my employees, who accompany me on this journey and help me to more easily manage what I can freely refer to as ‘the machinery’. I was declared Entrepreneur of the Year for 2014, in the category of fast growing enterprises; Woman Dragon of 2012 and Woman Dragon Above Dragons, which I received recently and which is particularly dear to me, because I was declared the best of the best among fantastic women entrepreneurs. There is also the award for the top logistics project of 2017, awarded by the Serbian Logistics Association, and the ‘Planeta Biznis’ recognition, awarded for my significant contribution to the development of entrepreneurship in Serbia. There were also others, and they really brought me unexpected satisfaction and a sense of pride. I have great plans for the future and even higher expectations, and that compels me towards advancement. And when I’m asked what my advice would be for those launching a private business, I advise them to have great expectations of themselves and not to pay attention to those who fear for them.

January

Art/Exhibitions GLASS ART

Art

Without Limits 48

January

There’s no doubt that stained-glass practises created the first significant glass artworks, with stained glass makers paving the way for the emergence of different glass techniques and styles. Most commonly associated with medieval cathedrals and 19th Century stained glass makers, this technique has been used for different expressions since the beginning of the 20th Century, while these expressions and practises have introduced glass art to the world of fine and modern art January

Art/Exhibitions Glass Art

DALE CHIHULY: AT KEW GARDENS

Art collectors are increasingly interested in what some of the bestknown glass artisans have to offer, eagerly awaiting a chance to see their latest glass creations

he early 20th Century saw the emergence of new styles of glass works that superseded the dominant Gothic movement. One of the most important authors of that time was Harry Clarke, an Irish stained-glass creator and book illustrator. Clarke was a leading figure of the famous Irish Arts and Crafts movement. Stained-glass remains an important practise today. And renowned British artist Brian Clarke is among the leading stained-glass artisans in contemporary art, whose works can be found in architectural settings and private and public collections internationally. However, in today’s contemporary art world there are also other glass creatives who use techniques and styles that are more popular than stained-glass. Glassblowing, as one of the most significant contemporary artistic practises, has a rich tradition but still enjoys enormous popularity today, while some of the most renowned contemporary glass creators also use this quite complicated technique. One of them is American glass sculptor Dale

January

Chihuly, who uses an extremely rare glassblowing technique that results in stunning sculptures and installations. Chihuly is a very productive artist and his pieces can be found in permanent collections all over the world. Most of today’s glassblowing artisans can thank Lino Tagliapietra for pioneering many of the processes and techniques that have become the industry norm. Tagliapietra is among the most important contemporary glass artists. Born in Italy and raised on the Italian island of Murano, where glassmaking has been an island tradition since at least 1291, his pieces can be found worldwide, while his best-known piece – an impressive 35boat glass armada – is on display at the Columbus Art Museum in the U.S. Glass sculpture is actually among the most popular glass art forms today. Jack Storms is a contemporary artist who uses an extremely rare technique to create sculptures, in which each sculpture begins with a core of lead crystal which

By author

Glass art has found its spot under the Sun of the contemporary art world, and it’s undoubtedly already well established, either as an applied arts medium or an independent technique is cut, polished and laminated to create reflective mirrors and a rainbow of colours. This is followed by hours and hours of repetitive grinding, cutting and polishing. There are many glass factories around the world today, some delving in more commercial matters, while other also focus on the applied arts. Some of the best can be found in the U.S. and the UK, but also in Germany, France, Poland and Russia. All of those factories produce high-quality products, both hand-blown, which include a cylinder glass, a so-called muff, and a crown glass, and the kind of rolled glass that is mostly used for cathedral ornamentation. Considering the fact that many new technologies of production have been invented to date, contemporary stained-glassmakers have a significant amount of quality resources at their disposal. One aspect of the contemporary glass art scene that became clear over the past few years is that young and emerging lady glass shapers are courageously taking control into their own hands. Glass crafting and manufacturing have always been seen as a manly discipline. However, that perspective is changing and we now see a lot of truly successful women in the world of glass. They include the likes of Kimiko Yoshida, Marya Kazoun, Anne Peabody, Soyeon Cho and Hye Rim Lee, to mention just a few. Some famous glass shapers who are members of GAS – the Glass Art Society – include Nina Casson McGarva from France, Alejandro Herrera Guiñazú from Argentina, Tanja Pak from Slovenia, Mauro Bonaventura from Italy and Karen Reid from the U.S., among others. When it comes to glass art, truly everything is possible. There are no boundaries other than the artist’s imagination itself. Glass art is truly valuable on today’s scene. Looking at the global art market, we can note high demand for glass art pieces. Art collectors

TOM FRUIN: STAINED GLASS HOUSE

IKUTA NIYOKO: LAYERED GLASS SCULPTURE

are increasingly interested in what some of the best-known glass artisans have to offer, eagerly awaiting a chance to see their latest glass creations. A large number of art galleries dedicated exclusively to exhibiting glass artworks are also opening their doors in various cities around the world. Moreover, it seems that these creatives in every corner of the Earth have never before been as inspirational, creative and innovative as they are today. Glass art has found its spot under the Sun of the contemporary art world, and it’s undoubtedly already well established, either as an applied arts medium or an independent technique. Monitoring the dynamic changes in the creative spheres today, we are eager to see what the next trend will be, and what extraordinary glass artworks such artisans will make in the future.

DAVID WILLIS RAINY DAY DREAM AWAY

January

&FACES PLACES

AMBASSADOR MUBARAK SAEED AHMED AL DHAHERI

29/11/2018

UAE Embassy Marks Its 47th National Day

The Embassy of the United Arab Emirates in Serbia celebrated the 47th anniversary of the establishment of the Union. The celebration has gained special importance this year, as it will coincide with 2018 being the ‘Year of Zayed’, which was announced by President

His Highness Sheikh Khalifa bin Zayed Al Nahyan, to mark 100 years since the birth of the country’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan. H.E. Dr Mubarak Saeed Ahmed Al Dhaheri, the ambassador of the United Arab Emirates to Serbia, addressed the guests and said that he is honoured that during 2018 the work was done to concretise the cooperation and improve the cooperation between the Emirate and Serbia.

VERA MADZGALJ WITH THE HONORARY BOARD OF BELHOSPICE CENTER AND WINNERS OF BELHOSPICE AWARDS AMBASSADOR POPA WITH AMBASSADOR SEM FABRIZI AND MS REBECCA FABRIZI

3/12/2018

National Day Of Romania Marked In Belgrade

1/12/2018

Traditional BELhospice Charity Ball

At the traditional 9th charity ball of the BELhospice centre, which took place on 1 December 2018 at the Hyatt Regency Belgrade Hotel, € 74,000 were collected to help cancer patients and their families. These funds will be directed to continue providing free palliative care to cancer patients and their family members through over 1,000 home visits and at the Day Centre of the first hospice in Serbia. The ball was attended by about 300 members of the diplomatic corps, the corporate sector and individual philanthropists. The Director of BELhospice Vera Madžgalj presented the results achieved in the previous 12 months and plans for future work. She pointed out that thanks to donor assistance in October this year, the first Hospice Centre opened in Belgrade. Besides free palliative care of cancer patients in the city, it provides the highest level of services to them and their families.

January

The guests were welcomed by the Ambassador of Romania to Serbia, H.E. Oana-Cristina Popa, at the reception held at Belgrade’s Hyatt Hotel, marking the National day of Romania. The event highlighted the strong and stable relations between Romania and Serbia and reminded of the traditional friendship and closeness of the two nations. Ambassador Popa stated that Romania has been a member of the European Union for ten years and will chair the Council of the European Union from 1st January 2019. The reception was attended by ministers, representatives of public and cultural life, diplomatic corps, high military officials, church dignitaries and others.

AMBASSADOR OANA-CRISTINA POPA

SEE MORE: WWW.CORDMAGAZINE.COM

4/12/2018

OSCE Mission To Serbia Announces Winners Of Its 2018 Person Of The Year Award

AMBASSADOR ANDREA ORIZIO

Aleksandar Alimpić, Governor of the Sremska Mitrovica Correctional Institution; Mileva Malesić, Director of TV Forum from Prijepolje, Dejana Milijić Subić, Deputy Director of the Institute for the Improvement of Education and Dragomir Milojević, President of the Supreme Court of Cassation were presented with the 2018 OSCE Mission to Serbia’s Person of the Year Award at a ceremony held in Belgrade on 4th December. This award celebrates citizens of Serbia who contribute to the promotion of OSCE values in the country. Ambassador Andrea Orizio announced the winners of the OSCE Mission to Serbia 2018 Person of the Year Award and welcomed many guests at the ceremony held at the Ethnographic Museum in Belgrade.

AMBASSADOR ORIZIO WITH THE WINNERS OF THE OSCE MISSION TO SERBIA 2018 PERSON OF THE YEAR AWARD

5/12/2018

Emperor Akihito’s 85th Birthday Marked In Belgrade

The Embassy of Japan in Serbia marked the 85th birthday of the Japanese Emperor Akihito. Reception held at the Belgrade’s Metropol Hotel hosted by the Embassy of Japan was attended by the Ministers of the Government of Serbia, members of the diplomatic corps, high military officials, representatives of cultural life and other public figures. Guests at the Metropol hotel in Belgrade were welcomed by the Ambassador of Japan to Serbia H.E. Junichi Maruyama. Ambassador Maruyama in his speech emphasised the importance of good bilateral relations between the two friendly countries, Serbia and Japan. CorD’s Special edition ‘Partner: Japan-Serbia’ was presented at the reception marking the National Day of Japan. He recalled the significant role of former Serbian Foreign Minister and Ambassador to Japan Ivan Mrkić in deepening the cooperation between the two countries, for which he was awarded the medal of “Emerging Sun” by Japanese Emperor Akihito. Akihito is the 125th ruler of Japan according to the traditional inheritance system, and this year celebrates its 85th birthday.

AMBASSADOR PERTTI IKONEN AND MRS. PIA-SUSANNA PURRA

6/12/2018

The Embassy Of Finland Celebrates 171st Independence Day CORD PUBLICATION ‘PARTNER: JAPAN-SERBIA’ WAS PRESENTED AT THE NATIONAL DAY OF JAPAN

AMBASSADOR JUNICHI MARUYAMA

Ambassador of Finland, H.E. Pertti Ikonen, hosted the reception held at his residence, marking 171st Independence day of Finland. In his speech, Ambassador of Finland Pertti Ikonen stressed that Finland fully supports the process of Serbia’s progress in AMBASSADOR PERTTI IKONEN European integrations, as well as the enlargement of the European Union to the countries of the Western Balkans. This topic will be the focus when Finland takes over the presidency of the Council of the European Union in 2019. In support of the global #HeForShe campaign that Ambassador Ikonen helped launch in Serbia, he stated that he would no longer take part in allmale panels and discussions.

January

SEE MORE: WWW.CORDMAGAZINE.COM

&FACES PLACES

13/12/2018

10/12/2018

Statehood Day Of Qatar Celebrated

Ambassador of Qatar in Serbia, H.E. Sheikh Mubarak Bin Fahad Al Thani, hosted a reception at the Hyatt Hotel on the occasion of the Statehood Day of Qatar. This day is celebrated on December 18, when on that date in 1878, Sheikh Yashim bin Mohamed Al-Thani led the state towards unity. The ambassador emphasised that Serbia and Qatar established friendly relations, adding that Qatar devotes special attention to strengthening bilateral co-operation with Serbia. He also stressed that Qatar welcomes the efforts of the Government of Serbia in achieving progress, economic development and ensuring stability for its people, as well as in strengthening the credibility of Serbia in the international community.

100th Anniversary Of The Ukrainian Revolution Marked

Embassy of Ukraine in Serbia marked the centenary of the Ukrainian Revolution and the 27th anniversary of the referendum on the independence of this country. The guests were welcomed AMBASSADOR ALEKSANDROVYCH by Ambassador of Ukraine to (RIGHT) GREETED GUESTS BEFORE THE BALLET PERFORMANCE Serbia H.E. Oleksandr Aleksandrovych, who reminded that in the referendum on December 1, 1991, the vast majority of Ukrainian citizens voted for independence, and that December 6 was proclaimed the Day of the Ukrainian Army. At the reception, preceded by the ballet performance, were representatives of public and social life, cultural workers, members of the diplomatic corps, military officials and others. Ukraine gained its independence in 1991 in the process of disintegration of the Soviet Union. The independence act was adopted by the Supreme Rada of Ukraine in August of that year, while in the referendum in December three-quarters of all adult Ukrainians supported independence.

AMBASSADOR SHEIKH MUBARAK BIN FAHAD AL THANI

AMBASSADOR SEM FABRIZI AND MS REBECCA FABRIZI

14/12/2018

Ambassador Fabrizi Marks The End Of The European Year Of Cultural Heritage

AMBASSADOR BAKOTA AND MS BAKOTA

13/12/2018

Croatian Embassy Hosts A Christmas And New Year Reception

In the residence of the Ambassador of Croatia in Belgrade, a reception was held on the occasion of the upcoming Christmas and New Year holidays. Ambassador to Serbia H.E. Gordan Bakota welcomed guests and said that the past year was turbulent and challenging in all fields, and his hopes are that 2019 will be filled with happiness and joy. The reception was attended by the representatives of public and cultural life, members of the diplomatic corps and public figures from the world of art, media and sports.

January

2018 was the European Year of Cultural Heritage, a year of events, activities and celebrations in Serbia and all around Europe to encourage the sharing and appreciation of Europe’s cultural heritage, to raise awareness of our common history and values and to reinforce a sense of belonging in a common European space. To mark the end of the European Year of Cultural Heritage, H.E. Sem Fabrizi, Ambassador of the European Union to Serbia and Ms Rebecca Fabrizi, welcomed guests at the ambassadorial residence. Addressing guests Ambassador Fabrizi in his speech said “We want to share with you also moments of friendship and enjoy culture together, which connects us without negotiations, chapters, accession. Culture is rather a free flow of ideas. European delegation in Serbia has organised more than 50 events throughout the year.” The event was attended by the members of the diplomatic community, cultural life of Serbia and friends and partners.

My life

By Maja Vukadinović

MILORAD MILINKOVIĆ,

DIRECTOR, SCREENWRITER, QUIZ SHOW CHASER, FOOTBALL COMMENTATOR

WE’RE LIVING IN TECH-NOIR Milorad Milinković is shooting a television series called Kljun [Beak], which he says will be Panonian film-noir, based on a clash of mentalities January

My life

Milorad Milinković, Director, screenwriter, quiz show Chaser, football commentator

ilorad Milinković ‘Debeli’ (1965) graduated in Film and Television Direction at the Novi Sad Academy of Arts, in the class of professor Vlatko Gilić. He is best known for his cult black comedy Mrtav ‘laden [Dead Cold], while he’s also directed the films Potera za Sreć(k)om [Chasing Luck(y)], Čitulja za Eskobara [Obituary For Escobar], Zduhač, znači avantura [Zduhač Means Adventure], Serbia’s first 3D film – Peti Leptir [Fifth Butterfly] and Patuljci sa naslovnih strana [Dwarfs From The Front Pages]. He’s also directed theatre plays, particularly during the 1990s. Remaining in popular memory from that period is his play Ziggy Stardust, an homage to David Bowie, which was performed to great success at Belgrade’s Bitef Theatre. Two years ago he also adapted the text of the play Captain John Pipplefox for the Duško Radović Little Theatre. Also engaged actively in music, in the mid-1980s he founded the band Morbids and Mnights, performing in Belgrade’s underground nightclubs as the band’s guitarist and singer. He was also in the band Dragons, releasing an album with them in 2003. According to his Wikipedia profile, Milinković is also a writer, disc jockey, football commentator, while he’s best known to the general public as The Chaser in the popular quiz show The Chase. Our interlocutor is clearly versatile and educated in the renaissance spirit. But what can’t be seen from biographical data is his laid-back style and the calmness with which this director communicates. Milinković comes across as completely unpretentious, even modest, while referring to the books, films and authors that have shaped his view of art and life. Although he shoots (black) comedies, he is not the kind of interlocutor who will recount ten witty anecdotes during the conversation in order to illustrate what he wants to say. One doesn’t get the impression that he wants to impress at any cost. His films say enough by themselves. You’re obviously interested in many things. Why did you opt for film/theatre directing?

January

I’ve done everything that interests me in my life whenever I got an opportunity. Everything that happened to me happened by chance. The only thing I planned was to direct In secondary school I was only interested in music, but I knew I wouldn’t be able to do it for a living. I had an affinity for the natural sciences and had excellent grades in astrophysics and, when I was supposed to serve in the army, I signed up to study astronomy. There was no entrance exam and I found it fun to learn about the stars and planets. It was at the age of 21 that I decided to study what I would like to do for a living. Apart from music, directing was the most inter-

esting to me. I spent my secondary school years at the Cinematheque Film Archives. There I learned that the film is bigger than life. Deep down I’m not a swot, but before the entrance exam I read all books of film theory. It was a special honour for me to be accepted into the class of Vlatko Gilić in Novi Sad, because I loved his films. I’m curious, and direction is one of those jobs that enable you to do a lot of things that interest you simultaneously... You were part of the urban team of the ‘80s. Can you compare the spirit of Belgrade then and now?

Everything’s always nice when you remember your youth. In the circles that I moved in, it was normal for me to hang out with painters, musicians, people from the art scene etc. Music was played at the openings of exhibitions, concerts performed for various reasons... we were circulating and socialising constantly. I had the impression that that was the most creative period, because I was surrounded by all those people.

By Maja Vukadinović

I’m inspired the most by the conversations I hear. That’s why I say in jest “If you do not see it in a film, don’t tell me about it in a tavern”

I don’t like to mythologise any period. The spirit is always the same and everything is wonderful when you’re young. My parents also spoke about how their time was the best, and they didn’t live easily. I believe that young people today are also having good times. You graduated with a documentary film about eccentric punk musician Satan Panonski, while you’re recognisable for your black comedies. How did you construct your directorial style?

At the Academy we were encouraged to deal with the completely alternative. Now the alternative has become a “must”. In other words, in order to receive money from the state, it’s desirable for a film not to be watchable. The closest genres to me are thriller, black comedy and fantasy. I loved Hitchcock because of his film language and serious concept. I love all classic films, those of Truffaut, and particularly Chabrol, Melville et al. The closest poetics to me are those of Spanish director Alex de la Iglesia.

My films resemlbe eahc other a lot, because I see myself in all of them. I believe there are two types of artists. The first are those who constantly create the same work. Those include the likes of Beckett, Bergman, Tarkovsky, or the Rolling Stones in music. You know exactly what to expect – excellent variations on a single theme. The second kind create something different every time. Those include Ionesco or The Beatles. Perhaps the best example is David Bowie, who thought in a similar way throughout all stages of his career, but made albums that were completely different stylistically. I’d like to belong to this second group, with every subsequent film appearing to be different from the previous one, whilst still retaining my stamp and seal.

in Subotica and the surrounding area. A real Pannonian noir! I always wanted to make a series that isn’t set in Belgrade, and Subotica is ideal because it’s a multicultural community, close to the border, with beautiful landscapes... I want to make a European series, which isn’t typical for us. I’m primarily interested in clashes of mentalities. I studied murder statistics in that area, but it won’t be typical film noir: it will have elements of fantasy and all sorts. This series is the first time that I can create something in a genre that’s not related to comedy. Which genre best suits the times in which we’re living?

I’m convinced that’s tech-noir. Where do you find inspiration?

I’m inspired the most by the stories I hear. I sometimes see some news item on TV and consider how that could be made into a good story. Sometimes I simply dream of something that later galvanizes me. However, I primarily find it in conversations. That’s why I say in jest “If you do not see it in a film, don’t tell me about it in a tavern”.

You’re currently preparing something you haven’t previously done...

Your films have a specific humour. What makes you laugh?

I am very happy to be shooting the television series Kljun [Beak]. It will include 12 one-hour episodes, and should premiere next autumn. It will be a crime drama set

Lots of things... a good joke, a good film, music, and sometimes also public figures can be funny. In principle, I’m a cheerful man, which is why I like to work on dark topics.

January

My life

Milorad Milinković, Director, screenwriter, quiz show Chaser, football commentator

DEBELI MILINKOVIĆ AND HIS PRODUCTION TEAM, DURING SHOOTING FOR FIFTH BUTTERFLY, SERBIA'S FIRST 3D FILM

How did you become a Chaser in the quiz show The Chase?

I enjoy watching quiz shows generally. The English version of this quiz was my favourite. My involvement came by chance. The production company that produced The Chase called me. I came to the television station and it turned out to be an audition. There were lots of people. They asked me a hundred questions and told me I’d passed. I read a lot and remember bizarre things, and that’s great for a quiz. All quiz questions are a kind of mental gymnastics for me. I know everything from music, while I’m good at history and literature... but I daren’t tell you which are my weak areas.

January

I want to make a European series, which isn’t typical for us. I’m primarily interested in clashes of mentalities Could you share with our readers some interesting facts about this quiz show?

Various competitors have, to put it mildly, strange ideas about how we’re cheating them. There are various theories. One of my

favourites is that we have invisible ‘bugs’ in our ears. Believe it or not, some contestants think that we press the buttons without reason, and that the editing process is directed so that it looks like we know everything! Thanks to that quiz, you’ve become a media star...

I’m essentially a shy person; I used to get the jitters when I was dealing with music earlier. I don’t like exposing myself, which is why I’m behind the camera. I had a habit of appearing in some shot in a film, but no more than that. Now I’ve already got used to public appearances and don’t even get jittery during the quiz show. I get recognised on

By Maja Vukadinović

the street, on the market; I chat and have my picture taken with people when they ask. That’s all okay. Those who like sports know you as a football commentator on Eurosport. Whose idea was it for you to try your hand in that role?

I’ve done everything that interests me in my life whenever I got an opportunity. Everything that happened to me happened by chance. The only thing I planned was to direct. So, I never even considered that I would become a football commentator. I was called by my friends, friends because they know I love football. And, here we are, for eleven years already I’ve been commentating in tandem with my colleague on Germany’s Bundesliga. Then, at some point, they told us at EuroSport that we also have to comment on some winter sport. As we aren’t professional commentators, we chose curling, which isn’t a very popular sport. We initially didn’t know anything about it. Now, after ten years, we can be considered experts. When you comment on sportscasts, do you get annoyed, cheer or maintain cold neutrality?

Whenever I watching football or any sport, I always cheer a little. I’m not generally an irritable person by nature, so I’m not prone to ecstasy or sorrow. As I co-commentate with my colleague, we always decide who will cheer for whom prior to the start of the broadcast, to make things more interesting for both us and the viewers. I’ve certainly made a million lapses, but I can’t remember any specific one. I remember the pearls of sports commentators. One of my favourites is the comment of Vladan Stojakovic: “Outstanding intervention by goalkeeper Ljukovac. And now let’s see why the Germans are celebrating!”. Do you have time for a hobby?

I work a lot, so I mostly don’t have time for many things. I have my daughter Divna, who’s five, and I try to be with her as much as possible. We play, I take her to ballet practise... I gladly watch films or TV series. The series Black Mirror is excellent, I watch two or three episodes at a time. Next on the list is the series Babylon Berlin. I’m currently reading Cortázar and a historical book about the Sarajevo assassination. I listen to music, mostly rock ‘n’ roll, but I also like jazz, classical music etc. High-quality music is a

I read a lot and remember bizarre things, and that’s great for a quiz. All quiz questions are a kind of mental gymnastics for me. I know everything from music, while I’m good at history and literature... but I daren’t tell you which are my weak areas fusion of genres, and I like fusion. I like to cook, but I don’t do it often because I don’t have time. But when I do, I always rely on inspiration. You haven’t given up on music entirely?

I play from time to time. I created a theme song for “Dwarfs”, which will be aired as a mini-series next year. I played the song on guitar, then the arranger sorted it out. I’ve also written two songs for my daughter to sing. What would a film about your life look like?

It would be very boring! I want my life to be tranquil and my films interesting. I don’t believe people who say that when they look back they wouldn’t do anything different. I think a person should constantly improve themselves, to advance. To paraphrase Flaubert, we’re not important, but our works are.

January

CHILL OUT

Santa Dashes Around The World

FRANCE

Fragrance Masters Of Grasse Receive Unesco Heritage Boost The perfume-making techniques applied in Grasse, a southern French commune where iris, jasmine and other fragrant plants have long flourished, received a boost from the UN via a bid by local industry champions to lure back more specialist growers. The United Nation’s culture agency said that it had added the skills linked to cultivating flowers and blending fragrances in Grasse to its list of protected treasures of intangible heritage. Still considered by perfume manufacturers to be one of the world’s most prestigious fragrance centres, thanks to knowhow developed over more than five centuries and a micro-climate favouring the growth of ingredients like tuberose, the number of producers has nonetheless fallen.

Christmas is one of the most widely celebrated holidays worldwide, and the running community has its own way of being festive. The Santa Dash is always a festive spectacle, with thousands of Santas running for fun around the streets of hundreds cities worldwide, with the aim of raising money and support for a range of people in need – lifesaving medical equipment and facilities, food and supplies etc. - that make a real difference to families in their daily lives. The Liverpool Santa Dash, one of the world’s largest, is an annual 5km fun run that was this year held in the first week of December around Liverpool City Centre. Participants dressed up as Father Christmas regularly attempt to break the Guinness World Record for the world’s largest Santa Claus fun run. December’s fundraising run aimed to revolutionise the hospital experience for young patients and families in the Liverpool community.

VATICAN CITY

Boy Interrupts Pope’s Audience An adorable six-year-old boy upstaged Pope Francis during his general audience at the Vatican. Luckily, the pontiff gave the young gentleman his blessing. “Let him be, let him be,” the Pope told his Argentine-Italian mother as she attempted to try and corral him off stage. “When Jesus says we have to be like children, it means we need to have the freedom that a child has before his father. I think this child preaches to all of us. And let us ask for the grace of speech (for him).” The voy’s father, Ariel Wirth, explained that his son has a speech impediment and behavioural issues, noting that “we try to let him be free.”

RUSSIA

USA

Running With Reindeer

Orthodox Christmas

Sports are still a big part of the Anchorage Fur Rendezvous, but sprinting ahead of reindeer or steering the fastest outhouse on skis has put Rondy in a league of its own for competitive spirit. Fan favourites of this event in the Alaskan capital, like the Outhouse Races and the Running of the Reindeer, a mad dash through the streets of Anchorage with caribou closing at the racers’ heels, always draw a crowd. In the Rondy World Championship Sled Dog Races, dog teams and their mushers complete three high-speed loops over three days, with the winner recording the fastest overall time. This competition, established in 1946, is considered the grandfather of all Alaskan races. Despite a multitude of modern distractions, many traditional Fur Rendezvous events have withstood the test of time – several of which showcase Alaska’s rich and varied native cultures.

Christmas in Russia is most widely celebrated on 7th January, in accordance with the Orthodox Julian calendar. New Year’s Day according to the Gregorian calendar precedes Russian Christmas and is often celebrated as a more important holiday. It is not uncommon for Russians to observe two Christmases and even two New Year’s—the first Christmas observed on 25th December and the second New Year’s Day observed on 14th January. Any public trees, such as the Christmas tree in Moscow’s Red Square, also serve as a symbol of the New Year. Christmas church mass services, which take place during the evening of Christmas Eve, are attended by members of the Orthodox church, but nowadays even Russian President Vladimir Putin has begun attending these solemn and beautiful services in Moscow.

January

USA

Rockefeller Center Christmas Tree Is Free

CHEROKEE FRIENDS OF THE MUSEUM OF THE CHEROKEE

USA

Half Of Oklahoma To Be Returned To The Cherokee Nation The U.S. Supreme Court will soon have a chance to return an enormous chunk of land — half of the territory of Oklahoma — to its Native American owners. This court might change the fate of the Cherokee Nation by returning land that they steadily lost over the years — and the official decision could come as soon as spring 2019.

Since 1931 when construction workers building the Rockefeller Center erected a Christmas tree locals and tourists alike have flocked to mid-town Manhattan to bask in its glow and get into the yuletide spirit. The 2018 tree, a 22-metre-tall Norwegian spruce that’s 75 years old and weighs almost 12 tonnes, came from donors Shirley Figueroa and Lissette Gutierrez, who were Bronx and Brooklyn residents before moving to Wallkill. Of course, the Rockefeller Center’s owner, Tishman Speyer, absorbs any costs associated with its transportation, but those who provide the tree are compensated with the knowledge of the joy that the tree gives everyone. The tree is decorated with eight kilometres of multicoloured LED lights and a Swarovski crystal star weighing over 400 kilograms. It may come as a surprise to some that the Rockefeller Center doesn’t pay for the tree. The tree is recycled and will be turned into lumber for a home to be built by Habitat for Humanity.

SOUTH SUDAN

South Sudanese Beauty – Finally Married Nyalong Ngong Deng, the 17-year-old South Sudanese virgin from Awerial in the former Lake State, whose beauty attracted over six suitors, is finally off the shelf. Nyalong exchanged wedding vows with tycoon Kok Alat in a colourful wedding ceremony at Freedom Hall in Juba, bringing to a close the long and extraordinary journey in search of a suitable suitor. The groom beat at least five other men who had expressed interest in marrying Nyalong in accordance with Dinka culture, after each failed to match Alat’s 520 heifers, three Toyota V8 cars and KSh 1 million (€18,000) to win over the beauty’s heart. Among the competing suitors was a former commissioner of Awerial and the current Deputy Governor of Eastern Lakes State. CHINA

Bug business Expanding Chinese cities are generating more food waste than they can accommodate in landfills, and cockroaches could be a way to get rid of hills of food scraps, providing nutritious food for livestock when the bugs eventually die and, some say, cures for stomach illness and beauty treatments. On the outskirts of Jinan, capital of eastern Shandong province, a billion cockroaches are being fed with 50 tonnes of kitchen waste a day - the equivalent in weight to seven adult elephants. The waste arrives before daybreak at the plant run by Shandong Qiaobin Agricultural Technology Co, where it is fed through pipes to cockroaches in their cells. Shandong Qiaobin plans to set up three more such plants next year, aiming to process a third of the kitchen waste produced by Jinan, home to about seven million people.

January

The Time For

Skiing Has Arrived! Spending time in snow, or rather – to be more precise – on ski slopes, does not exclude considerations of style. It's important that you feel warm and comfortable, but there's no reason not to look good at the same time. Indeed, when it comes to sports, style often seems more important than skill. Skiing could also be included in such sports, at least when it comes to recreational skiers. Of course, it's primarily essential that you're warm enough, but that doesn't mean you can't also be stylish. When it comes to fashion, the variations for winter sports aren't infinite, which ensures that the styles on offer don't differ much from season to season. Most skiers love vibrant colours, so that preference guides the companies that produce ski equipment. Some people, however, prefer simplicity, which is why white or black are always an option. The choice is ultimately yours.

MAGGY

Ski overall in grey&w hite €2060

GOLDBERGH

Vita faux-fur and shelldown jacket €590

MSR

Evo - Snowshoes €180

POC

rro Fovea Pink/Gold Mi les gg go i Sk €160

January

BOLLÉ

Supreme OTG Modu lat 2.0 Nxt S1-3 - Ski go or ggles €140

UVEX

HLMT 300 Visor - Ski helmet €200

DAINESE

Flexagon Back Protector €130

NORRØNA

Lofoten Gore-Tex Pro One-Piece Overalls €1,250

HELLY HANSEN

Tundra CWB - Winter boots €170

KOMPERDELL

Women’s Air Vest – Protector €160

January

Culture

calendar

Christmas Days at Sava Center 6 – Sava Center – 20.00

The third night of the manifestation “Christmas Days” will open the choir of spiritual music, “Alleluia” which explores and promotes traditional Serbian music, but also music from Russia, Bulgaria, Greece authors from 13th to 21st century, performed by Bora Dugić, the celebrated soloist- flautist who held hundreds of solo concerts around the world. Sanja Ilić and Balkanika who held concerts on all continents, in the most beautiful way represent a part of the world of cultural heritage and music of Serbia. Sanja Ilić and Balkanika is a group composed of young, well-known, talented musicians who play traditional instruments of the Balkans with the setting of the rock band. Bojana Nikolić, whose performance on “Christmas Days” will be in the genre of ethnic music, has participated in over two hundred concerts in the country and abroad. She collaborated with the RTS National Orchestra. The host of this evening will be Aleksandar Gajšek, renowned TV host and editor of the program “Agape” and an excellent connoisseur of Serbian tradition.

Open Heart Street

1 - Belgrade city centre Belgrade’s Open Heart Street is a traditional urban manifestation of a humanitarian character. Visitors are greeted precisely at noon on the first day of the year by Belgrade Mayor, after which follows a firework display and a carnival procession of entertainers. Alongside Svetogorska Street and part of Makedonska Street (from Takovska to the Belgrade Youth Centre building), the Open Heart Street will this year also include Skadarska Street. Visitors will enjoy a variety of entertainment programmes on the small plaza in front of theatre Atelje 212, in “Srpska Kafana” tavern, in front of the building of Stari Grad Municipality, at Radio Belgrade, the House of Đura Jakšić in the Skadarlija Bohemian Quarter and at the “Familija” bistro. As in previous years, apart from enjoying numerous performances, concerts and other entertaining contents, visitors to the Open Heart Street will also be able to join the humanitarian activities and help those most in need. The humanitarian activities of this year’s Open Heart Street will be dedicated to children and the construction of a new facility of the Belgrade Shelter and larger space for children at the existing facility. The funds will be collected from sales of festive greeting cards/postcards, which will also be the main symbols of this year’s Open Heart Street.

Anatomy of the Flight

3 - Aviation Museum – 9-17.00 Techniques and technologies, machines and appliances attract humans in very different ways, so artists have always been interested in creating with this topic in mind. In particular, this refers to aviation, which allows a person to move unnaturally - by flying. Heaven and reaching heavenly heights have always been a challenge. Flying is the overcoming of physical and biological laws. Height is the ultimate freedom and supremacy. But the sky can also bring destructive hazards. These and many other associations and contexts were in the mind of the artist, in the conception of the exhibition “Anatomy of the Flight”. The exhibition includes work of Dušan Otašević, Nemanja Nikolić, Iva Kuzmanović, Marija Šević, Aleksandra Perić, Hana Rajković, Magdalena Miočinović Andrić, Artterror, Lidija Delić, Nina Ivanović, Sava Knežević, Slavica N.Obradović, Nina Simonović, Isidora Krstić, Jelena Marta Glišić, Mariko Hori, Nenad Glišić and Tania Ruiz Gutierrez.

January

Huawei Music Awards 29 – Štark Arena – 20.00

In the organisation and production of the largest regional production company Skymusic, on January 29th in Stark Arena in Belgrade will be held a musical spectacle that has not yet been seen in this part of Europe. The biggest stars from Serbia, Croatia, Bosnia and Herzegovina, Montenegro and Macedonia will gather at the award ceremony of the first regional music awards Huawei Music Awards Ceremony (MAC). Within the program, which will last more than four hours, on several connected stages will appear more than 60 famous people from the region. The audience will enjoy spectacular performances designed and directed especially for this occasion. There will be more than 20 awards for best performers, tracks of different genres, clips, stage performances... Over 200 celebrities will be expected to walk through the red carpet, while 15000 visitors will be in attendance at the ceremony. The unique entertainment and music event Huawei MAC will live streamed by national television stations to the countries of the region.

The Day Worthy a Century - 1 XII 1918

Palace of Serbia - Until 28 April 2019

Schiller

18 – Hala Sportova – 21.00

This audio-visual concert spectacle will leave you breathless! German musician, composer and producer will perform on 18th January 2019, in Hall of Sports! Schiller, a marvellous visionary who is packing halls and arenas around the world leaving the audience breathless, will visit the world next year, but expressed his desire to finally come to Serbia “I’ve heard many positive things about Serbs, and want to get to know the Serbian audience better, and I present my music live!”.

From December 1, 2018, on the day of the 100th anniversary of the unification of Serbs, Croats and Slovenians into one state, the Museum of Yugoslavia opened the exhibition “The Day Worthy a Century - December 1, 1918”, which will run until 28th April 2019. Due to works in the Museum May 25th, the exhibition will be held at the Palace of Serbia in New Belgrade. The exhibition explains the founding of Yugoslavia which was preceded by the long-standing commitment of the cultural and intellectual elite to the unification of southern Slavs but also emphasises how the vision of the creation of the Yugoslav state differed from one to another and through different periods. In addition to archival documents, posters and photographs from that period, art paintings, sculptures, personal items, decorations and weapons will be exhibited. The exhibition can be opened every weekend from 2 December 2018, to 28 April 2019, with a mandatory application at https://goo.gl/v8yRrs

Belgrade New Year’s Concert 14 - Sava Center - 20.00

Enjoy another New Year’s musical spell of the Symphony Orchestra and Choir of RTS! This year, with special guests and maestro Bojan Suđić, prepare your dancing shoes and enter the world of dance. Be prepared for the Belgrade New Year’s Concert at the Sava Center on Monday, January 14, at 20:00. Tickets available at the Sava Center and Eventim Box Office.

Submissions for the 66th Martovski Festival Opened 27-30 March 2019 – Belgrade Youth Center

The Festival Committee and the Youth Center of Belgrade invite all local productions and authors to apply for 66th Belgrade Festival of Documentary and Short Film - Martovski Festival. Applications for the domestic competition program (documentary for up to 50 minutes, documentary over 50 minutes, TV documentary, short featured, animated, experimental film and video art) can be submitted from 1 December 2018 to 20 February 2019. Registration for the festival is done exclusively through www.martovski.rs The competition is open to authors and productions from abroad, for the selection of an international competition program in the category of the short feature film. The festival will be held from 27-30 March 2019, in the Belgrade Youth Center, and producers or authors of selected films will be notified no later than March 15, 2019.

SEE MORE: WWW.CORDMAGAZINE.COM

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January

AFTER WORK 03 PUBLIC DIALOGUE WITH AMBASSADOR DEC OF FINLAND PERTTI IKONEN The Finnish Embassy and the Scandinavian Corner marked the 101st anniversary of Finland’s independence with a lecture and a public dialogue with Finnish Ambassador to Serbia H.E. Pertti Ikonen, titled “Finland - the building blocks of a happy nation”. Ambassador Ikonen on this occasion talked about the values on which Finnish society rests, which are the driving force of its good functioning. Among these values is trust, reliability, openness that permeate all spheres of life, from public administration, through economics, to interpersonal relationships. He also explained that according to this year’s United Nations World Happiness Report, Finns are the happiest nation in the world, because they value the way their society works. “Things are very simple. We are satisfied that we pay taxes because we see how this is coming back to us, in the form of an education system that is among the best in the world, efficient public administration, a quality health system and social protection,” Ambassador Ikonen said.

AMBASSADOR PERTTI IKONEN

AMBASSADOR HOSSEIN MOLLA ABDOLAHI

03 EXHIBITION IRANIAN DEC CULTURAL HERITAGE HELD IN BELGRADE The Embassy of the Islamic Republic of Iran in Belgrade and the National Assembly of the Republic of Serbia organised an exhibition titled “Iranian Art and Handicrafts”. Ambassador of Iran in Belgrade H.E. Hossein Molla Abdolahi expressed his gratitude for the opportunity to present the art of Iran exactly in the home of all citizens of Serbia. “The fact that the exhibition is hosted in the National Assembly of the Republic of Serbia speaks of close ties and friendship between our two peoples and our two parliaments,” the ambassador concluded.

04 DEC CONFINDUSTRIA’S ANNUAL GENERAL ASSEMBLY “Confindustria is a bridge that connects and brings Europe together to Serbia, and at the same time seeks to bring Europe closer to Serbia,” emphasised Erich Cossutta, President of the Confindustria. At this year’s assembly of Confindustria members, held in Palata Italia, President Cossutta emphasized that the Italian companies came to Serbia to stay, because they see an ideal platform for their research and development in this country which almost belongs to the European family and from which it shares only one step of official recognition, feel like H.E. SEM FABRIZI home. Ambassador of Italy to Serbia, H.E. Carlo Lo Cascio, addressed the members, “We are on the right track, and we need to continue working together,” the Italian Ambassador said, pointing out that Serbia is a market of seven million people and that there is much innovation in this country at a high level in areas of IT and digital economy. H.E. Sem Fabrizi, the head of the EU delegation in Serbia, pointed to the importance of Italy in Europe and Serbia. “Economic reforms in Serbia are working, he added, pointing out that GDP is growing by 4.5 per cent, which is real progress, the primary growth is very positive, the public debt is decreasing as well as unemployment.”

January

ERICH COSSUTTA AND AMBASSADOR CARLO LO CASCIO

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RITA LOZINSKY AND VASILEIOS KAKAGIOTIS

GEORGIOS PANOUTSOPOULOS AMBASSADOR ALONA FISCHER-KAMM

04 HELLENIC BUSINESS DEC ASSOCIATION GENERAL ASSEMBLY HELD On December 4th, the Hellenic Business Association of Serbia hosted the General Assembly, which was attended by the representatives of the member companies. On behalf of the Board of Directors of the Association, Georgios Panoutsopoulos, who spoke about the most important activities of the Association and presented the financial report for 2017/2018. On this occasion, Mr Panoutsopoulos emphasised that the aim of the Board of Directors is the organisation and participation of the Association in all activities of great importance for its members. He singled out as very important to the Greek businesspeople in the country, the presentation on the topic “Opportunities for EU funding in the Republic of Serbia”, as well as recent meetings with political leaders of Greece.

04 CHABAD SERBIA DEC CELEBRATES HANUKKAH Jewish Center Chabad Serbia celebrated Hanukka at the Hilton Hotel in Belgrade, with many guests in attendance. The ceremony was attended by Ambassador of Israel H.E. Alona Fischer-Kamm, Minister of the Government of the Republic of Serbia Nenad Popović, representatives of the Jewish community and numerous guests. Ambassador of Israel, recalling the symbolism of Hanukkah, said that Hannukkah carries a universal message close to all people, the victory of good over evil and light over darkness. Yoshousu Kaminecki, Chabad Serbia Rabbi, said that the message of the Jewish holiday of light is for people to light up their environment and give light to others. “Giving is the taste of life - the more we give, the more we take for ourselves, and by doing so we make the world a better place,” Kaminecki said.

PANEL OF INTERNATIONAL INVESTORS

04 DEC BALKANS PROPERTY FORUM 2018 In the next few years, we can expect serious investments by foreign investors in the real estate market of Southeast Europe, especially in Serbia. This was concluded at the international real estate conference “Balkans Property Forum 2018”, co-organized by Property Forum and RICS in Belgrade. The Forum brought together more than 150 experts in real estate, and the main themes were trends and innovations that affect the future of real estate with a focus on the Balkans countries.

MINISTER NENAD POPOVIĆ AND YOSHOUSU KAMINECKI

DANIJELA ILIĆ

January

AFTER WORK

04 SLOVENIAN BUSINESS CLUB DEC CELEBRATES 15TH ANNIVERSARY At the Hyatt Regency Hotel in Belgrade, Slovenian Business Club (SPK) ceremoniously marked its 15th anniversary of successful work and continuous and stable growth. On this occasion, the president of the club, Danijela Fišakov, awarded thankyou letters and gifts to persons, institutions and companies that specifically contributed to the development and duration of the club.

DANIJELA FIŠAKOV WITH AWARDED SPK MEMBERS

09 TRADITIONAL IWC DEC CHARITY CHRISTMAS BAZAAR The charity bazaar, which was organised by the International Women’s Club at the Belgrade Fair for the 17th time, gathered more than two and a half thousand visitors. More than 32,000 euros have been collected through the sale of products from 32 participating countries and individual donations, which will be donated to marginalised groups and people in need.

MILICA LUNDIN, IWC PRESIDENT

January

H.E. SEM FABRIZI, H.E. ANDREA ORIZIO, STELIANA NEDERA AND TOBIAS FLESSENKEMPER

P h o t o M A R I JA P I RO Š K I

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10 DEC HUMAN RIGHTS DAY The commemoration of the 70th Anniversary of the Universal Declaration of Human Rights and Human Rights Week culminated with the main event on the occasion of Human Rights Day. Gala event at the Museum of Contemporary Arts in Belgrade marked the Human Rights Day and the 70th anniversary of the Universal Declaration on Human Rights, with the support of the United Nations Country Team in Serbia, OSCE Mission to Serbia, European Union Delegation to Serbia and Council of Europe Office in Belgrade. Guests were welcomed by the hosts Steliana Nedera, UN Resident Representative in Serbia, Ambassador Sem Fabrizi, Head of the EU Delegation, Ambassador Andrea Orizio, Head of the OSCE Mission, and Tobias Flessenkemper, Head of the Council of Europe Office.

HUGO VAN VEGHEL AND H.E. KOENRAAD ADAM

12 BSBA - THE EMBASSY DEC OF BELGIUM END OF

YEAR RECEPTION

The Annual General Assembly of the Belgian-Serbian Business Association (BSBA), held on December 12 and as always supported by the Ambassador of the Kingdom of Belgium, was another successful event by which the BSBA closed its activities for 2018. The General Assembly re-elected the Board of Directors and elected 2 additional board members – Dirk Theunissen, CEO Metechco/Metes/Metech, and Slobodan Leso, CFO for Serbia, Bosnia and Slovenia at Puratos d.o.o. The strengthened team will continue its path in coordinating SME supporting activities with other bilateral chambers and business clubs in Serbia, heading for the ten year celebration of the BSBA in 2020. The official part was followed by an End of Year reception with BSBA members and friends, hosted by H. E. Koenraad Adam.

AMBASSADOR KATI CSABA AND MIRJANA DONČIĆ BEATON ADDRESSING GUESTS

11 DEC CANSEE CHRISTMAS COCKTAIL

MILICA VRANJANAC (RIGHT)

Fifth in a row Canadian Serbian Business Association (CANSEE) traditional Christmas reception was attended by more than 120 distinguished guests, CANSEE members, partners and associates, as well as representatives of the diplomatic corps, Serbian political and economic leaders. CANSEE Christmas reception marked the end of another very successful year for CANSEE association. H.E. Kati Csaba warmly welcomed all the present guests saying that she’s honoured to be the ambassador of Canada to Serbia, Macedonia and Montenegro. Ambassador stressed that she is very proud of CANSEE activities and projects that CANSEE successfully finished in 2018 and that she is looking forward to further strengthening the economic development between Serbia and Canada. Mirjana Dončić Beaton, CANSEE managing director, said that year 2018 was very successful for CANSEE association.

January

AFTER WORK

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12 CROATIAN BUSINESS DEC CLUB END OF THE YEAR GATHERING Croatian Business Club headed by its president Marija Radulović hosted end of the year dinner, gathering Club’s members to celebrate another successful year. In addition to Business Club’s successful projects that marked 2018, reopening of the Croatian Chamber of Commerce office in Belgrade in April 2018 proved steady growth of the collaboration between Croatian and Serbian businesspeople. Croatian Business Club members, partners and friends enjoyed a pleasant evening at the Klub književnika restaurant in city centre.

CROATIAN BUSINESS CLUB PRESIDENT MARIJA RADULOVIĆ (LEFT)

AHK DIRECTOR MARTIN KNAPP, AMBASSADOR SCHIEB, AHK PRESIDENT RONALD SEELIGER

13 DEC AHK CHRISTMAS PARTY Representatives of the German-Serbian Chamber of Commerce (AHK), friends and associates gathered in an informal atmosphere to mark the end of this business year at the traditional Christmas celebration of AHK Serbia at Belgrade’s Rubin restaurant. Guests were greeted by Dr Ronald Seeliger, President of the AHK Serbia and CEO of Hemofarm, who made a brief retrospective of all the activities that the Chamber has undertaken in the past year and reminded that in 2019, AHK Serbia will continue to support activities of its member companies. Participants were then addressed by Ambassador of the Federal Republic of Germany H.E. Thomas Schieb, who assessed this year as good for German businesspeople in Serbia, and at the same time pointed to possible challenges in the future. Dr Ronald Seeliger handed over a check to the Executive Director of the Association of Parents of Children with Malignant Diseases “Zvončica”, Irina Čepinac-Ban, a donation of 149,180.00 rsd from funds collected during this year’s AHK Oktoberfest.

January

India INTERVIEW: H.E. Subrata Bhattacharjee, Ambassador of India to Serbia

Sharing Common Views

Both countries agreed to cooperate closely in various multilateral fora The visit of the Hon’ble Vice President of India to Serbia was of great significance, as it was a high-level visit from India after a gap of 29 years. The visit also took place in response to the visit of then Serbian PM (now President) Vučić in 2017, which was the first high-level visit to Indian from Serbia after thirty years. Given that you arrived in Serbia only recently, what do you see as today’s priorities of the bilateral cooperation that was established 70 years ago?

Whilst I only took over as Indian Ambassador in Belgrade a few months back, I did have some prior knowledge of the country and the region, as I served as Director General dealing with Central Europe at the Ministry of External Affairs in New Delhi immediately before com-

ing here. I am, thus, familiar with the historical background of our bilateral ties, as well as the current developments. In the early days following India’s gaining independence, the leaders of the two countries played pioneering roles in the Non-Aligned Movement, which was the need of the hour, particularly for developing countries. Despite the geopolitical shift, India and Serbia still share common views on many global issues. Our bilateral ties are robust. Closer economic cooperation is also being greatly emphasised by the leaders of both sides. We certainly need greater trade and investment, and closer peopleto-people contact. Indian Vice President Naidu visited Serbia recently. How would you assess the effects of his discussions with Serbian officials?

The visit of the Hon’ble Vice President of India to Serbia was of great significance, as it was a high-level visit from India after a gap of 29 years. The visit also took place in response to the visit of then Serbian PM (now President) Vučić in 2017, which was the first high-level visit to Indian from Serbia after thirty years. During the visit of Vice President Naidu, the leaders of both countries acknowledged the need to continue regular exchanges at different levels. Both countries also agreed to cooperate closely in various multilateral fora. It is widely accepted that the United Nations is in particular need of urgent reforms and that a more representative, legitimate and effective UN Security Council reflecting current geopolitical realities is now needed more than ever to better address today’s global conflicts and crises. Both Serbia and India recognise ter-

rorism as a serious global threat. To tackle this menace, India proposed back in 1996 a draft ‘Comprehensive Convention on International Terrorism’, for codifying well-accepted norms of global cooperation on counter terrorism in a formal instrument of international law. Both leaders felt the need for further progress on this. In another significant development during the visit, national postal services Serbia Post and India Post jointly released postage stamps featuring Nikola Tesla (a great Serb innovator and inventor) and Swami Vivekananda (a great Indian spiritual leader). These two visionaries were known to each other and Tesla was deeply impressed by the thoughts of Swami Vivekananda. Has implementation of the two Agreements signed during the aforementioned visit started – related to cooperation in the field of protection of plant-life and in air traffic? What specifically will these agreements ease when it comes to cooperation between the two countries?

During the visit of Vice President Naidu, two Agreements – namely an Agreement on Cooperation in Plant Health and Plant Quarantine and an Air Services Agreement – were signed. The first Agreement is meant to facilitate bilateral trade in plants and plant products. Agriculture plays a major role in the Serbian economy and there are great prospects for exporting agricultural products from Serbia to India, and even vice versa. In fact, exports of some agricultural products have already begun. This Agreement has provided a framework for greater and safer trade in agricultural products between the two countries. The Air Services Agreement signed during the visit replaces the previous such Agreement signed by India and the Federal Republic of Yugoslavia in 2003. Moreover, the global civil aviation industry has gone through major changes in the past fifteen years. The new Air Services Agreement incorporates the changes required in modern times and will provide better air connectivity between the two countries in due course. This will be particularly useful as India offers its online e-Visa to Serbian citizens and Serbia has abolished visa requirements for short visits by Indians.

Vice President Naidu and Serbian President Vučić participated in the Indian-Serbian Business Forum. Is there any interest in strengthening economic cooperation?

In discussions held during the visit, the leaders of both countries acknowledged that the current level of trade and investment is far below the true potential. Annual bilateral trade totals around US$200 million. Considering that India is a major importing nation with annual global trade figures of US$769 billion, Serbian exporters can develop an India-specific strategy to capture a greater share of the Indian market. India is also a major foreign investor. In the past three years, Indian companies have invested US$40 billion abroad. The total financial commitment in that period is US$120 billion. In the case of Serbia, Indian companies have already invested in sectors like tractor manufacturing, an IT Park, food processing, the manufacturing of aluminium panels, waste disposal containers, railway

We certainly need greater trade and investment, and closer people-to-people contact equipment etc. Considering that Serbia is a member of the EU Customs Union and has FTAs with Russia and many other countries, there is great potential to attract further investment from India. In the IT sector, India has the capabilities and Serbia can gain from this expertise. Tourism promotion, attracting Indian tourists to Serbia and vice versa, can be another new area for closer economic cooperation. Indian company TAFE became the owner of Serbia’s IMT factory during 2018. Have you had the opportunity to acquaint yourself with the plans of the Indian owners of this once very successful company?

Agriculture plays a major role in the Serbian economy. This provides a great opportunity to supply Serbia with high-quality tractors at affordable prices. Indian company TAFE, which had a long association with Serbia, correctly sensed the need and acquired this

leading Serbian tractor brand and its factory to manufacture TAFE tractors in Serbia under the IMT brand name. The company’s business plan is progressing well. In fact, two other leading tractor companies from India – Mahindra and Sonalika – also have their own assembly lines in Serbia with Serbian partners. There is also great scope for similar cooperation for other agricultural machinery. You are aware that the dialogue between Belgrade and Pristina is in crisis. India has not recognised the unilaterally declared independence of Kosovo. Do you believe that – alongside the European Union the United Nations should also be more actively involved in resolving this issue?

On the Kosovo issue, India always maintains its principled stance and supports the sovereignty and territorial integrity of Serbia. India recognises the legitimacy of the role of the United Nations, as well as UN Security Council Resolutions on this issue. India supports the peaceful resolution of this issue through discussion and dialogue. During his visit to Serbia in September 2018, Vice President Naidu unequivocally reiterated India’s principled position on this issue. India keenly monitors developments on this important and serious issue. How will you celebrate India’s Republic Day on 26th January?

The Republic Day of India (26th January) is of great significance to the history of the independent India. It was on this date in 1950 that the Constitution of India came into effect, creating the provision for a democratic government system and completing the country’s transition to an independent republic. The date is celebrated throughout India, as well as at all Indian diplomatic Missions abroad. At the Indian Embassy in Belgrade we will have a flag hoisting ceremony in the morning for members of the Indian community in Serbia. There will additionally be a reception to which Serbian dignitaries, senior government officials, Serbian business leaders, representatives of the Serbian media, diplomatic corps, friends of India etc. will be invited. I also plan to organise a performance of Indian dance by Serbian dancers at the Reception.

India

Forging A Deeper Friendship Indian Vice President H.E. M. Venkaiah Naidu’s official visit to Serbia, from 14th to 16th September 2018, stands as testimony to the strong historical relationship shared between these two friendly nations

he Honourable Vice President of India, H.E. M. Venkaiah Naidu, paid an official visit to Serbia from 14th to 16th September 2018. This was the first high-level visit of an Indian dignitary to Serbia after a gap of three decades and came during the year in which the two countries celebrated the 70th anniversary of the establishing of bilateral diplomatic relations. The Vice President was accompanied by a high-level delegation comprising Shiv Pratap Shukla, Minister of State for Finance, four Indian Members of Parliament, senior officials, a business delegation and representatives of the media. During his high-level engagements, Vice President Naidu held detailed discussions on a range of bilateral and multilateral issues with Serbian President Aleksander Vučić, Prime Minister Ana Brnabić and National Assembly of Serbia Speaker Maja Gojković, as well as addressing a business forum. During his meeting with President Vučić, Vice President Naidu discussed important aspects of bilateral relations, as well as global and regional issues that are of common interest to both countries. The two leaders expressed their commit-

VICE PRESIDENT NAIDU WAS RECEIVED UPON ARRIVAL IN BELGRADE BY SERBIAN AGRICULTURE, FORESTRY & WATER RESOURCES MINISTER BRANISLAV NEDIMOVIĆ AND H.E. INDIAN AMBASSADOR SUBRATA BHATTACHARJEE

ment to building upon the long-standing friendly ties between the two countries. In the area of economic cooperation, the two agreed to enhance cooperation in priority areas like agriculture, food processing, defence manufacturing, science and technology, information technology, infrastructure, tourism and pharmaceuticals. During the joint me-

INDIAN VICE PRESIDENT NAIDU’S MEETING WITH SERBIAN PRESIDENT VUČIĆ

dia briefing, President Vučić complimented India’s political leadership on the country’s stellar economic results. As he said, “India is witnessing exceptional economic progress. We are happy for the country that has been our long-time friend and well wisher”. He also thanked India for supporting Serbia’s territorial integrity. President Vučić then hosted a banquet in honour of Vice President Naidu. Vice President Naidu met with National Assembly of Serbia Speaker Maja Gojković and held detailed discussions on a range of bilateral and multilateral issues. In a rare gesture, the visiting vice president was invited to address a special session of the Serbian National Assembly. He did so in the same parliament hall where former Indian Prime Minister Jawaharlal Nehru addressed world leaders upon the launch of the Non-Alignment Movement (NAM), alongside then veteran Yugoslav leader Marshal Tito. In his hour-long address to the lawmakers of the host country,

Vice President Naidu recalled fondly the close affinity and shared vision with which the leaders of both countries played a key role in launching the NAM.

VICE PRESIDENT NAIDU ADDRESSED SERBIA’S PARLIAMENT

and investment ecosystems offering mutually beneficial partnerships. President Vučić took the opportunity to invite Indian investors to Serbia, which would open them up to new markets thanks to Serbia’s existing Free Trade Agreements. So far there have been few cases of investments by Indian companies in Serbia, with Indian tractor manufacturer TAFE taking over Serbia’s IMT (Industry of Motors and Tractors). Moreover, the Embassy Group of India has invested $20 million in the construction of an IT park in Serbia. Bilateral trade between India and Serbia reached a total of approximately 200 million euros in 2017.

Serbian Prime Minister Brnabić also hosted a working lunch for the Vice President.

SIGNING TWO AGREEMENTS

THE VICE PRESIDENT LAID A FLORAL TRIBUTE AT THE FOOT OF THE BUST OF MAHATMA GANDHI IN BELGRADE

MS. ANA BRNABIC, PRIME MINISTER WITH INDIAN VICE PRESIDENT NAIDU

Vice President Naidu and President Vučić jointly addressed the India-Serbia Business Forum on 15th September, which included the participation of a large number of Serbian companies and an Indian business delegation. The forum included discussions regarding bilateral cooperation in the areas of agriculture, energy, pharmacy, the IT industry, tourism, education etc. Speaking at the Forum, the Vice President gave a detailed account of the rapid strides being taken by India in various fields, including enabling, predictable and reform-orientated financial

national postal service, Pošta Srbije, and India’s Department of Post jointly released commemorative stamps featuring renowned Serbian scientist and inventor Nikola Tesla and India’s great spiritual leader Swami Vivekananda. Vice President Naidu noted that Swami Vivekananda’s thoughts and ideas had left a deep impression on Tesla’s works.

With full military honours and the playing of the two national anthems, Vice President Naidu – accompanied by Serbian Defence Minister Aleksandar Vulin - laid a wreath beside the Tomb of the Unknown Soldier on Belgrade’s Mount Avala. To commemorate the occasion of the 70th anniversary of the establishing of diplomatic relations between the two countries, Serbia’s

In the presence of Indian Vice President Naidu and Serbian President Vučić, both sides signed two agreements: Indian Ambassador to Serbia H.E. Subrata Bhattacharjee and Serbian Construction, Transport & Infrastructure Minister Zorana Mihajlović signed a revised Air Services Agreement, aimed at boosting trade and tourism. The signing of the agreement on air services has created possibilities to establish direct flights between the two counties and future commercial code-sharing agreements between airlines. The other agreement, on Cooperation in Plant Protection and Plant Quarantine, was co-signed by Serbian Agriculture, Forestry & Water Management Minister Branislav Nedimović and Ambassador Bhattacharjee. This agreement seeks to improve bilateral trade in fruit, vegetables, processed foods etc.

India

ISRO: Flying high! India’s space agency, Indian Space Research Organization (ISRO) is counted among the top six Government space agencies in the world today. Its vision to ‘harness space technology for national development’ has truly set very high standards for the rest of the world. ISRO has in fact put India in an elite club of nations with outstanding space technology advancements with more than 100 satellite launches. • ISRO built India’s first satellite, Aryabhata, which was launched by the Soviet Union on 19 April 1975. • In 1980, ‘Rohini’ became the first satellite to be placed in orbit by an Indian-made launch vehicle, SLV-3. • ISRO sent a lunar orbiter, Chandrayaan-1, on 22 October 2008 and a Mars orbiter, “Mars Orbiter Mission”, on 5 November 2013, which entered Mars orbit on 24 September 2014, making India the first nation to succeed on its first attempt to Mars, and ISRO the fourth space agency in the world as well as the first space agency in Asia to reach Mars orbit. • On February 15, 2017, ISRO created history by lifting off 104 satellites (including 101 foreign) using the Polar Satellite Launch Vehicle (PSLV). • On 5th June 2017, India scored a double success, launching its latest - and heaviest till that time - communication satellite GSAT-19 with its brand new and heaviest rocket - the Geosynchronous Satellite Launch VehicleMark III (GSLV-Mk III) with a cryogenic engine. The 640-tonne GSLV Mk III, also called ‘fat boy’, weights equal to 200 full-grown Asian elephants. • India’s GSAT-29 communication satellite was successfully launched by the second

developmental flight of Geosynchronous Satellite Launch Vehicle MarkIII (GSLV MkIII-D2) on 14 November 2018. • India’s most powerful and advanced communication satellite GSAT-11 was successfully launched on 6 December 2018. GSAT-11 is the next generation high throughput communication satellite that will play a vital role in providing broadband services across the country. The satellite, weighing 5,854 kg, is the heaviest Indian-made equipment that the ISRO put into its orbit. • ISRO’s aims at launching India’s first human mission by 2022. Indian Space Research Organization was

formed in 1969 to provide the space based services and to develop the technologies to achieve the same independently. ISRO maintains one of the largest fleet of communication satellites (INSAT) and remote sensing (IRS) satellites, that cater to the ever growing demand for fast and reliable communication and earth observation respectively. ISRO develops and delivers application specific satellite products and tools: broadcasts, communications, weather forecasts, disaster management tools, Geographic Information Systems, cartography, navigation, telemedicine, dedicated distance education satellites being some of them.

India Dates: 1st – 15th February 2019

Surajkund International Crafts Mela (Fair)

A splash of colour, the rhythm of drum beats and joie de vivre come together at Surajkund in Faridabad, Haryana (India), during the first fortnight of February every year. The curtain rises on the acclaimed annual Surajkund International Crafts Mela on 1st February, opening a celebration of Indian folk traditions and cultural heritage. Occupying a place of pride on the international tourist calendar, more than a million visitors, including thousands of foreign tourists, create crowds at this fair. The Surajkund Fair is unique for its showcasing of the richness and diversity of handicrafts, hand-looms and the cultural fabric of India, while it is also the world’s largest crafts fair. Over the years, this annual fair has come to occupy a place of pride and prominence on the Indian tourist calendar. Previous editions of the fair have attracted more than 1.2 million visitors, with events unfolding through a wonderful range of textiles, paintings, wood stock, ivory work, pottery,

terracotta, stonework, lacquerware, cane and grass products. This largest crafts fair in the world is jointly hosted by the Indian Union Ministries of Tourism, Textiles, Culture and External Affairs, in coordination with the Indian Council for Cultural Relations (ICCR) and the Tourism Department of the State of Haryana. More than 20 countries and all Indian states will participate in 2019’s 33rd Surajkund International Crafts Fair. The multi-cuisine Food Court provides ethnic cuisine from all over the world, which proves immensely popular with visitors. The scintillating folk performances at the two ‘Chaupals’ (open air theatres) and mesmerising evening recitals at the ‘Natyashala’ (Theatre) only add to entertainment content. There are designated areas for amusement, adventure sports and fairground rides, making this a must-visit event. The Surajkund International Crafts Mela offers visitors a once-in-a-lifetime experience.

India

Ease Of Doing Business India Scaling New Ranks India’s ranking on the list of the World Bank’s Ease of Doing Business Index for 2019 climbed 23 places to 77th among 190 surveyed countries, making it the only country to rank among the top 10 improvers for the second consecutive year. India’s leap is significant when one considers that India improved its rank by 30 places last year – a rare feat for such large and diverse countries as India. As a result of continued efforts exerted by the Government of India, the country has improved its ranking by 53 places in the last two years and 65 in the last four. India has improved its ranking in six of ten indicators, moving closer to international best practises (Distance to Frontier score) on seven of ten indicators. The most dramatic improvements, however, have been registered in indicators related to ‘Construction Permits’ and ‘Cross-Border Trade’. In the issuance of construction permits, India improved its ranking from 181st in 2017 to 52nd in 2018, marking an improvement of 129 places in a single year. In terms of ‘Cross-Border Trade’, India’s ranking improved by 66 places, from 146th in 2017 to 80th in 2018. The most important features of India’s performance this year are:

Improvement has taken place due to the commitment of the Government of India to carry out comprehensive and complex reforms, supported by the bureaucracy that has shifted its mindset from that of a regulator to a facilitator. The Government has undertaken an extensive exercise of stakeholder consultations in order to better understand the challenges confronting industry, reengineering government processes in order to provide simplified and streamlined processes to create an environment in the country that’s more conducive to doing business. As a result of continued efforts, India’s ranking has improved as follows:

The eight indicators in which India has improved its rank over last four years are:

2019 GUIDE

REAL ESTATE

PLUS

• NEW CONSTRUCTION STANDARDS • LUXURIOUS BUSINESS SPACES • THE SMART BUILDING PHENOMENON • THE MOST ELITE LOCATIONS • SAFETY AND SECURITY FOR RESIDENTIAL AND BUSINESS PREMISES

INTERVIEW ZORANA MIHAJLOVIĆ PH.D., DEPUTY PRIME MINISTER AND MINISTER OF CONSTRUCTION, TRANSPORT AND INFRASTRUCTURE

Are We Facing A New Decade Of Reform? The reform of the real estate cadastre, following the e-permit reform, is the next major reform for our construction sector and one of the most important reforms for improving the business environment in Serbia. A prerequisite for encouraging investment is a regulated real estate cadastre, in which all updated data on real estate and property ownership is kept, as well as estimates of the value of immovable property, and which should represent the basis for determining public revenues

onstruction is today one of the motors of Serbia's economic growth. Such a renaissance for the branch that's the flywheel of every serious economy would not be possible without a stable and predictable macroeconomic policy and well-regulated regulations govern4

ing investment in the real estate sector. With Zoran Mihajlović Ph.D., Serbian Deputy Prime Minister and Minister of Construction, Transport and Infrastructure, we discussed the overall economic environment, possibilities for the further growth of foreign investments in the real

estate sector and progress on cadastre regulation, which was until recently, despite large investments, one of the areas in which very little progress was made. When will we be able to say that Serbia has really gained a modern, up-to-date, TRANSPORT & LOGISTICS

EFFICIENCY

PREDICTABILITY

reliable and fully public real estate cadastre? - Reform of the cadastre, following the e-permit reform, is the next major reform in our construction sector and one of the most important reforms for improving the business environment in Serbia. Thanks to the Law on the Registration Procedure with the Cadastre of Real Estate and Utilities, since 1st July 2018 citizens have no longer had to visit five counters of institutions in order to register their property, rather they can now do that in one place, with a notary, in just a few days, and without additional costs. Our goal is for citizens to receive an efficient service with the cadastre like the one that they already have in the issuance of construction permits, and the plan is for the cadastre to function fully electronically by the end of 2020. Serbia has otherwise advanced on the list of this year's Doing Business Index, progressing from 57th to 55th place, but we expect that progress to be much higher in 2019, when the reform will reach its full capacity.

land in central city zones and construction areas is an inherited systemic problem that dates back many years and that will be resolved in the future through comprehensive reform in the sector of public real estate evidence books and

Our goal is for citizens to receive an efficient service with the cadastre like the one that they already have in the issuance of construction permits

Foreign investors have recognised that Serbia offers stable and predictable conditions for investment, and regulations that allow them to obtain all permits in the most efficient way

TRANSPARENCY

Every citizen or investor is able to check the progress of their application at any time, which ensures that no space whatsoever is left for corrupt practises

that's a result of the Government's overall economic policy. The stabilisation of public finances, continued GDP growth, the implementation of reforms and accelerated completion of major infrastructure projects – primarily Corridor 10 – all

The Serbian Government's Anti-Corruption Council noted recently that construction sites in the centre of contributed to Serbia recording Belgrade in 2017 continued to growth in investments in both We will continue to improve the business be administered like pastureproduction capacities and in the environment and to gauge our progress real estate sector. Alongside the lands, meadows and fields. through the Doing Business Index and other Belgrade Waterfront project, as What consequences does this global rankings, in order for construction to the largest project in this sector, have for total investments in continue to be the driver of GDP growth in a large number of other investthe real estate sector? the years ahead - The real estate cadastre ments are being implemented in must be kept updated in a the construction of business and the rights of usage, digitalisation, reform physical, property and valuation sense. residential premises. and the introduction of E-government, This means that the prerequisite for enOver the past four years, an entire set as well as through the implementing of of laws have been passed in the construccouraging investments is for the real E-space reforms. estate cadastre to include all updated tion field, from the Law on Planning and data on property, data on ownership, as Construction, via the Law on Property What is Serbia's potential like when it well the estimate value of real estate, Legalisation and Conversion, to the Law on comes to attracting FDI in real estate? which should represent the basis for Registration Procedure with the Cadastre - Foreign direct investments in Serbia determining public revenues. of Real Estate and the Law on Construchave been growing in recent years and Data on the intended usage purpose of tion Products. TRANSPORT & LOGISTICS

of a reform that's been conducted Foreign investors have successfully, and NALED has also recognised that Serbia ofdeclared it as being the reform fers stable and predictable of the decade. The introduction conditions for investment, and of e-permits also introduced a regulations that allow them kind of competition among local to obtain all permits in the self-governments, so today many most efficient way. Prior to municipalities and cities issue the reform of construction permits in a period that's shorter permits, Serbia was ranked than the national average. 186th on the list of the World Bank's Doing Business Index How much will digitisation help when it comes to the issuance when it comes to reducing corof construction permits, with applicants waiting an average ruption in this sector? of around 270 days for issu- When it comes to the digital transformation process, conance, while today it is ranked 11th in the world. struction is an area where a lot The results of these rehas been done in the past three years. Construction permits are forms can also be seen through today issued through an elecincreases in the number of active construction sites, from tronic process, within an average 12,800 at year's end 2015 to of six working days, with every more than 33,000 today, as citizen or investor able to check well as through the fact that the progress of their application construction has been the carat any time, which ensures that no space whatsoever is left for rier of Serbia's GDP growth corrupt practises. in 2018. Thanks to clear rules, the When we add to this the number of electronic construcspeeding up of the process of legalising illegal objects, as tion permits is increasing year well as the simplified process on year. In 2015 a total of 10,438 of registering real estate, it is construction permits were issued, Thanks to clear rules, the number of clear that foreign investors while in 2017 it was almost twice electronic construction permits is increasing have good conditions for intwice as many, or around 18,500. year on year. In 2015 a total of 10,438 We're also carrying out digvesting in Serbia. The governconstruction permits were issued, while in ment will continue to work on itisation within the framework of 2017 it was almost twice twice as many, this, to continuously improve cadastral reform, where notaries or around 18,500 the business environment and already exchange documents with to gauge our progress through state institutions electronically. awareness among civil servants in lothe Doing Business Index and other global A transition period is envisaged during rankings, in order for construction to which the registration of property will be cal self-governments. The Law on Plancontinue to be the driver of GDP growth carried out in both paper and electronic ning and Construction was adopted at in the years ahead. form, while from 2020 we expect it to begin the end of 2014, and appropriate bylaws functioning completely electronically. were adopted along with it, so application Have local self-governments succeeded Finally, through the new e-space restarted practically immediately. in maintaining the same quality and The introduction of a law is a greater form, an electronic procedures is introspeed of issuing construction permits challenge than its actual adoption, but in duced to the process of preparing and that they had at the time when the new the case of the reform of construction submitting planning documents. In this law was first implemented? permits we were successful in implementaway, citizens will have an efficient service - When a law is passed that is reformat their disposal and access to data infortion thanks to the training of civil servants orientated and in some way revolutionary in local self-governments and thanks to mation on possibilities, constraints and for Serbia, then that isn't just a change of the constant presence of Ministry staff construction bans on cadastral parcels, regulations, but rather the entire working on the ground. as well as insight into urban planning method changes, along with the level of This reform now serves as an example parameters and construction rules. 6

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BUSINESS MUAMER RAGIPOVIĆ, MANAGING DIRECTOR FOR SERBIA, EYEMAXX

To European Standards The new large scale construction in Novi Banovci of the EYEMAXX Logistic Centre Belgrade will enable leaseholders to expand their storage capacities

(Logistics Centre Belgrade) EYEMAXX Real Estate AG is a real estate company with a long-standing successful track record, focussing on residential properties in Germany and Austria. In addition, EYEMAXX also realises nursing homes in Germany and realizes commercial properties in the CEE / SEE region. In the company’s recent past its corporate strategy has also included developing urban districts in Germany. EYEMAXX’ business activities take a dualpronged approach. These include high-margin projects and also the continued expansion of its stocks of let commercial properties, which generate ongoing rental income and thus constant cash flows. In so doing, EYEMAXX uses the expertise offered by its experienced management team together with a strong team of real estate professionals, and also a well-established and broad network which opens up additional access to attractive properties and projects. The current project pipeline has thus been expanded to around €975 million. The headquarters of EYEMAXX Real Estate AG is located in Aschaffenburg, Germany. Operative activities are carried out in Leopoldsdorf near Vienna. The EYEMAXX Group is represented by branch offices and project offices in all countries with active projects like Germany, Austria, Poland, Serbia, Slovakia and the Czech Republic. EYEMAXX Logistics Centre 10

Belgrade in Novi Banovci is situated in an excellent location, along the international motorway E-75, only 20km from the centre of Belgrade and 50km from Novi Sad. Only 15km away lies Nikola Tesla Airport. These facts are definitely important for easier placement of goods across the region”, says Muamer Ragipović, EYEMAXX managing director for Serbia, speaking for CorD magazine. “LogMaxx Alpha of 18,000m2 and LogMaxx Beta of 30,000m2 are modern equipped storage halls, built according to the latest standards and respecting all urban, construction and environmental standards. With integrated ESFR sprinkler systems, mobile platforms, loading ramps, state-of-the-art heating and cooling systems and security systems for prevention and enabling quick and efficient response. Reputable leaseholders have moved into the premises. “We are especially proud to have one of the most modern refrigerator units in Europe operating in the region of 0-4 degrees Celsius. The leaseholders have parking spaces available with a total area of 10,000 m2”, says Ragipović. “The centres have been built according to standards applied in the EU. This also applies to all the equipment that is installed and available to our current and future lessees. The capacity of the parking area is also important, both for

leaseholders and for all users of Logistic Centre Belgrade’s services. “Good ideas should not be changed, so EYEMAXX is starting to build LogMax Gamma, in which around €15 million will be invested. The building has an area of 22,000m2 and will be built according to the tried-and-tested EYEMAXX brand for the construction of logistics centres, which has been used in several facilities throughout various European countries. “Thanks to modern equipment and the type of construction, we are able to meet our leaseholders practically on all issues and requirements in accordance with specific business conditions. We will soon be able to offer an independent ADR warehouse whose construction is planned. Here we should certainly bear in mind the fact that existing ADR warehouses on our market have extremely low capacities and as such are deficient, so in this specific area we can display one more advantage over the competition.” Speaking about the price of the lease, he notes that the price of renting business premises is not fixed, but it depends on the specific demands of the leaseholders. When it comes to plans, Ragipović points out that because of its large-scale land reserves nearby the Novi Banovci Logistic Centre EYEMAXX is in a position to build considerably more logistic premises at such site in Novi Banovci, which will allow all clients an additional extension and make EYEMAXX even more advantageous on the Serbian market. You will also recognize the company by its slogans: -PASSION FOR PERFORMANCE -PERFORMANCE AT ALL LEVELS -PERFORMANCE THROUGH SUCCESSFUL PROJECTS -PERFORMANCE THROUGH A CLEAR STRUCTURE -QUICK YET EFFICIENT

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NEWS GERMANY

HANNOVER LEASING ACQUIRES €55.5M OFFICE PROPERTY Hannover Leasing, a Corestate Capital Group company, has acquired an office complex in DusseldorfOberbilk, designed by renowned architects RKW Architektur +, with total rental area of approx. 12,100m². The new building has been fully leased to Unfallkasse NRW which is opening its new headquarters at the property and will move in with around 500 employees by the end of next year. A rental agreement with a 15-year term and no special right of termination has already been signed. The price amounts to just under €55.5m. The seller is the Essen-based project developer Koelbl Kruse. Hannover Leasing is planning to transfer the property into a mutual AIF specially designed for foundations, which will align management to the needs of foundations.

JAPAN

SOFTBANK INVESTS IN PARKING START-UP PARKJOCKEY

BLACKSTONE COMPLETES €300M LOGISTICS DEAL Neinver has completed the sale of an industrial and logistics properties to real estate funds managed by Blackstone for approximately €300m. The deal comprises 55 logistics properties, including 162,000m² of land for industrial use, of which Neinver is the manager and either owner or co-owner. This sale is part of the company’s growth strategy, based on asset rotation and on investment in new business opportunities in the retail, industrial and logistics property sectors. The deal also strengthens the company positioning as an investment partner and manager of property assets. This Neinver-managed portfolio totals more than half a million square metres. SWITZERLAND

SOME PRICE GROWTH MODERATION NEXT YEAR The real estate market in Switzerland further benefited from a solid economy and a healthy labor market last year, with housing prices rising by 4% year on year in Q4 2017. Low borrowing costs have also helped, as the SNB has PRIME TOWER, ZURICH yet to raise its rates from historical lows of -0.75%. But regulatory measures and low affordability have kept a lid on house prices. Recent developments at the start of 2018 even point to some moderation in house price growth. Nominal prices were down 0.3% on the first quarter. Granular data shows that the decline in prices in the rental market segment over the past two years has now extended to owner-occupied homes (-2.6% year on year in June), and some moderation in prices of single-family homes is also visible. Strong disparity remains across regions, with price pressures stronger in areas such as Zurich and Geneva than in more rural areas. WORLD

Japanese SoftBank continues to invest in the future of transportation — this time in ParkJockey, a start-up that has built a technology platform aimed at monetising vehicle parking areas. Along with the SoftBank investment news, ParkJockey also announced that it was acquiring two of the largest parking operators in North America. The start-up, with help from Abu Dhabi-based Mubadala Capital and debt financing from Owl Rock, said it had reached an agreement to acquire Imperial Parking Corporation, a North Americanbased parking management company often referred to as Impark. The agreement follows ParkJockey’s acquisition of parking management operator Citizens Parking Inc. The investment puts the ParkJockey valuation to more than $1 billion, reported Miami Herald. Miami-based ParkJockey’s platform offers features like automatic license plate recognition and pay-by-app, among others. The company’s app also can be used by drivers to find parking spaces more efficiently.

GLOBAL $59.4BLN BUILDING AUTOMATION SYSTEM MARKET TO 2026 The Global Building Automation System (BAS) market is expected to grow from $59.43 billion in 2017 to reach $166.99 billion by 2026 with a compound annual growth rate (CAGR) of 12.1%. Rising demand for energyefficient systems, improvement of IoT in building automation system, growth of building automation-centric wireless protocols and wireless sensor network technology are some of the key factors fuelling the market growth. However, high installation price and lack of skilled labour are hindering the growth of the market. Security and access control systems segment is estimated to experience substantial growth thanks to the need for increased levels of security, activity monitoring and access control has led to a rise in demand. In geographical terms, Asia Pacific is expected to be the fastest-growing market. TRANSPORT & LOGISTICS

BUSINESS MIA ZEČEVIĆ, MANAGING DIRECTOR, NOVASTON D.O.O.

Encouraging Market Liberalisation We are building the Novaston brand in order to strengthen our market leader position

commercialisation, project and facility management to strategic development and marketing. We approach each client and every project carefully with a unique analysis and custom-made proposal. This is what sets us apart and what our customers expect from us - to apply the best solutions at each stage, taking advantage of all the potential of the market that the project targets. Our teams are experienced professionals How did "Novaston Asset Manwith international experience Development of office space in Serbia is very who have proven themselves agement" come about? What dynamic, rents are at an all-time high, but many times in the most imporservices do you provide to your real estate sales in this segment are very rare customers and what are your tant projects in Serbia and the creating business plans, complete reportfuture plans? region. We are proud of the fact that in - We started as a Novaston Asset Mansuch a short period we have managed to ing, invoicing and billing, participating in set the standard that our foreign clients the process of commercial due diligence agement, an independent real estate already expect in other markets. Today and making valuation, through leasing and retail platform with seven staff. Today,

ovaston Asset Management, an independent real estate retail platform, was founded with a staff of seven. Today there are three more companies - Novaston Project Management, Novaston Facility Management and Novaston Marketing Consultancy, with over 40 staff members, says Mia Zečević, managing director of NOVASTON d.o.o. (Ltd.).

besides Novaston Asset Management, there are three other companies - Novaston Project Management, Novaston Facility Management and Novaston Marketing Consultancy, with a total staff of over 40. In this way, we completed our field of operation in terms of property and asset management and completed the services we provide to our clients. They involve an integrated process from

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we are building the Novaston brand, with the goal of consolidating our position as market leader. How much is Serbia currently attractive to foreign investors and what investments will be the most profitable in the coming period? - The fact that Western Europe and the more developed countries of Eastern Europe are highly developed markets makes Serbia one of the few countries in which there is potential for developing commercial real estate. This is shown by the great activity of investors who are developing commercial real estate projects today, both in retail parks and in shopping malls in major cities in the past few years. In the case of Belgrade, the current situation on the market for modern shopping malls will be significantly changed by the opening of current projects (Ada Mall, BW, IPM), that will bring the total surface to around 350,000m2 (230m2 per 1,000 inhabitants). When it comes to average rents for prime shopping centres in Belgrade, a reduction of 10% will occur following the opening of the aforementioned centres, which will lead to stabilisation, only in a slower and milder way. We have also seen the sale of a large number of these properties, so we can conclude that a second investment cycle is in progress. It is difficult to assess which investments will be most profitable in the coming period. Now these are definitely residential projects, where for the first time we note a departure from the traditional attitude that this type of TRANSPORT & LOGISTICS

project is being developed only by local companies, as several foreign investors have emerged in this segment. In addition, the development of office space in Serbia is very dynamic, rents are at an all-time high, but real estate sales in this segment are very rare. In Belgrade, the office market holds around 350,000m2 of Class A facilities, about 250m2 per 1,000 inhabitants. The current vacancy rate is about 5%, and the projection is that, due to the expansion of real estate of this type, rates will increase by 6% -9%. Prime

rents (for class A office space) currently amount to €16.5/m2. They are expected to remain approximately at this level in 2019, but after that there will be a reduction of €1/m2, so that by 2020 the average will be at the level of €15.5/m2. How and to what extent will Serbia's accession to the EU affect the real estate market; what are the greatest obstacles

in terms of legislation and what else needs to be done? - Serbia’s accession to EU is crucial for the liberalisation of the entire market, so for the real estate market as well. Serbia’s

further steps of in this direction encourage foreign investors and funds to invest in our country. Let's remind ourselves that, right now, investors in the retail market are mainly companies from Austria, South Africa and Israel, which have overcome the obstacles set by local legislation. Corporate tax is certainly encouraging for investments, since corporate tax is in EU countries ranges from 19% to 33%. 15

NEWS BULGARIA

SOFIA AMONG 20 WORLD CITIES WITH FASTEST-GROWING HOUSING PRICES Sofia is r a n k e d 1 8 th among 150 world cities when it comes to the fastest rise in prices of housing, according to an international report by consulting company Knight Frank. The survey shows that the rise of European cities continues - 11 of the cities in the first 20 are in Europe - Rotterdam (14.8%), Edinburgh (12%), Porto (11.7%) and Sofia (11.3%) join longtime leaders Berlin (14.9%) and Reykjavik (11.8%). The chart shows that Sofia is one place and 0.1 percentage points ahead of San Francisco, which is 19th, with an increase of 11.2%. Also among the cities of Central and Eastern Europe is the Hungarian capital Budapest, where residential properties have risen by 14.4% for the year, placing it in 7th place. Also ranked are Zagreb (25th, + 9.8%), Skopje (39th + 7.2%), Bucharest (40th, + 7.1%), Warsaw (49th, + 6%) . GREECE

CHINESE BUYERS GOBBLING UP GREEK REAL ESTATE The Greek real-estate boom that has been recorded in the last couple of years is continuing its trend as Chinese buyers are multiplying at a great pace. Many Chinese investors take advantage of Greece’s generous ”Golden Visa Scheme”, which allows non-E.U. nationals to attain a Greek residence permit, and as a consequence, an EU residence permit. The only stipulation of the plan is that individuals must invest more than €250,000 in Greek real estate. The number of buying inquiries made from Chinese consumers on Greek property is now more than four times higher than it was in the fourth quarter of last year. Chinese buying inquiries increased by 137.5 percent in the third quarter alone. Mainland Chinese invested $119.7 billion in international property last year. It is expecting that investment in 2018 would be up by three to eight percent over that level. That would bring total investment to at least $123.3 billion for the year 2018.

RUSSIA

THOUSANDS NEW HOTEL ROOMS ENTERED THE RUSSIA Commercial property and investment management services Russia (JLL) presents analysis of the branded hotel room supply dynamics in 2018 and plans for new openings in 2019, in Russia, CIS and the surrounding region. Compared to the previous three years, 2018 was a breakthrough in terms of branded room supply growth. According to the preliminary assessment, 29 per cent more branded rooms were made operational in 2018 – 8,000 vs. 6,200 in the previous year. At the same time, in Russia 1.5 times more rooms appeared on the market. Almost half of the new branded supply volume was in hotels opened in FIFA World Cup host cities (3,400 rooms). Georgia appeared as the second most active hotel market in terms of new hotel room supply (807 rooms), followed by Ukraine (591 rooms) and Armenia (470 rooms). CHINA

A HOTSPOT FOR THE ‘VERTICAL FOREST’ BUILDING CONCEPT Award winning architecture firm Stefano Boeri Architetti, known for its innovative residential projects that blend greenery into the exterior of buildings, has a number of new projects under development in major Chinese cities, reflecting shifting attitudes on the mainland towards sustainable living. The firm, headquartered in Milan, has recently been commissioned for projects in Wuhan and Shanghai that are inspired by the “vertical forest” concept of its Bosco Verticale residential building, completed in Porta Nuova, a business district in Milan, Italy. Yibo Xu, China partner and principal architect at Stefano Boeri Architetti, said more stakeholders in China are realising the value of integrating green elements into urban architecture and the benefits that these projects can bring to the city.

BELGRADE WATERFRONT

Life in a unique Kula Belgrade The exclusive way of life in the capital and the need for comfort and functionality are combined in the Kula Belgrade, a unique landmark of Belgrade and Belgrade Waterfront and the future home of The Residences at The St. Regis Belgrade. The elegant shape and the benefits of living in branded apartments under the name of St. Regis makes the Kula Belgrade the first choice for anyone who does not accept anything less than an exceptional lifestyle. A luxury interior with many additional facilities such as a swimming pool, a gym and a spa centre, are just some of the features that the first residents will have the opportunity to experience with the arrival of the exclusive apartments The Residences at The St. Regis Belgrade in 2020. This exquisite architectural achievement in the immediate vicinity of the Sava River will reflect in its design the flow of the two Belgrade rivers and become a landmark of Belgrade. At Belgrade Waterfront, and in the immediate vicinity of the Kula Belgrade, there are places for leisure, such as the Sava Promenada and the BW Galerija.

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SURVEY BY PWC

Emerging Trends In Real Estate - Europe 2019 Emerging Trends in Real Estate® Europe is a joint survey by PwC and the Urban Land Institute. Now in its sixteenth edition it provides an outlook on real estate throughout Europe for 2019 and beyond 18

urope's Real Estate leaders remain optimistic about their business prospects in 2019, albeit a little less confident than they were a year ago, as an air of late-cycle caution settles on the industry. The geopolitical backdrop remains a concern, with Brexit uppermost in the minds of many, though global investors are less bothered by Brexit than their European counterparts. Emerging Trends in Real Estate® Europe

2019 shows an industry in search for secure, stable income as they question traditional investment structures and look at real estate in a much broader context. As has been the case over several years, the primary concern for the industry is the availability of suitable assets - cited by over two thirds of respondents. This serves to underline the enduring appeal of European real estate on the global stage, and with the search for yield TRANSPORT & LOGISTICS

Brexit is doubtless one reason why European political instability is second only to international political instability as the key social/political issue for the industry in 2019. The interviews indicate that global investors are less bothered by Brexit than their European counterparts. Even so, an overwhelming 83 per cent of respondents expect a divergence in economic growth between the UK and the European Union in 2019. Whether it’s a soft, hard or no-deal Brexit, 70% of Europe’s senior property professionals believe that the UK’s ability to attract international talent will fall following 29th March 2019, which is bleak news for the UK. For the majority, the Eurozone is seen as a safer and more fruitful investment destination than the UK in 2019, and income, this is now edging the whilst others equate the risk As has been the case over several years, industry out of its core comfort with opportunity. the primary concern for the industry is the zone. Some are moving into alterNot so long ago, the idea of availability of suitable assets - cited by over native or niche areas, like student promoting health and wellbeing two thirds of respondents accommodation, which require more would have been dismissed as operational expertise. irrelevant to the real estate industry, yet nearly half the survey respondents Others are going down the value-added, utilities. Rather, whole new investable asset believe it will have a moderate impact on build-to-core or development route. classes are opening up to service the digital strategies over the coming five years. More In terms of sectors identified by reeconomy, including 5G infrastructure, data spondents as having the best prospects tellingly, perhaps, 43 per cent acknowledge centres and charging points for electric, and for investment and development, six of it will have a significant impact. - increasingly - autonomous vehicles, all of the top 10 sectors represent some form of As it turns out, the survey puts health which provide a social return to consumers residential product. and wellbeing almost on a par with such through better connectivity or the environment in terms of lowering carbon emissions. Some 70% of survey respondents belong-established influences on the industry lieve that achieving target returns will require Not all investors or property companies as sustainability and energy efficiency. a widening of the definition of traditional are set up to take a real assets approach, There is also demand for more flexibility real estate to include real assets and related nor may they feel comfortable with such a among occupiers, so that they can respond service businesses. strategy, as it is a different type of risk and to the needs of their workforce. This requires more intensive asset management Investing in infrastructure need not requires more intricacy than with traditional and investment. mean traditional assets, such as railways or asset classes.

LISBON TAKES THE LEAD Emerging Trends in Europe 2019 ranked the real estate markets in major European cities according to their overall investment and development prospects. The 10 European cities that are expected to fare best in 2019 are a mix of smaller newcomers, such as Lisbon and the larger, tried and tested markets. It is no surprise, for instance, that German cities still dominate the top spots for 2019.

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BUSINESS SRĐAN OPALIĆ, MANAGING DIRECTOR, EX ING B&P DOO

High Quality Without Compromise Exing has recently built hundreds of thousands of square metres of commercial and residential buildings for foreign investors in Serbia

trong market growth in construction has been evident over the last few years in Serbia, creating opportunities for further development of construction companies, and a great need for rapid growth and consolidation of all companies engaged in individual, specialised activities, especially engineering companies. Without this it is impossible to build large facilities, says Srđan Opalić, director of EX ING B&P D.O.O. (Ltd.).

metres of commercial and residential buildings. These jobs have enabled our managers to expand their knowledge and gain experience in modern business. What's needed logistically to meet the highest standards of building that you carry out? - After almost 30 years of continuous growth, what sets us apart in the market is that we have always finished all our projects in the agreed time without even a day’s delay, and the high quality of execution of works, which has ultimately led to our clients’ great satisfaction and their commitment to choosing us as contractors on their next projects. From the beginning of our operations, "high quality" has been our philosophy and our goal. Everything we do in every segment, starting from organising the work, updating documentation, executing the works, production, engineers and training our staff, to final responsibility towards the investor - the emphasis is always on quality. EXING B & P consists of: -Exing B&P –

construction. -Exing Inox – stainless steel processing, -Exing Aluminium – facades, windows, doors, -Exing – fire doors, -Exing – Forster fireproof facades and bulkheads and EX BC – steel structures. And surely the most important thing – occupational health and safety, at any time and on every building we make.

Environmental protection is imperative for all companies involved in construction. Is EX ING B&P has worked on domestic and there something special in this context that regional construction markets for over two distinguishes you from your competitors? decades. Which business segment do you - We are engaged in the field of environmental consider central for your customers? protection, especially in the process of waste - The answer is always simple - investing. Investmanagement and education and awareness raising for all our staff, especially workers at ing in young engineers, in production facilities, the construction site. There is still a lot of work in skilled, qualified labour. Besides engineering, to be done in this field and to provide sufficient Exing has developed production facilities for resources and conditions to reach the level in steel structures, aluminium, stainless steel and developed countries. fire doors, equipped with state-of-the-art equipAt the moment we are engaged in large ment and software, which enables us to double and important projects in Belgrade: SKYLINE production next year and meet the demand complex in Kneza Miloša Street, in quality and volume for renowned AIRPORT CITY, residential and foreign contractors with whom we EXING B&P consists of: -Exing B&P – commercial complexes WELLhave successfully cooperated in recent construction, -Exing Inox – stainless steel years, while gaining new clients. PORT and The Duke’s Gates, our processing, -Exing Aluminium – facades, But Exing already has good coown investment residential and windows, doors, -Exing – fire doors, -Exing – commercial building in block 65operation with foreign investors in Forster fireproof facades and bulkheads and EXING HOME 65 and various other Serbia, for whom we have recently EX BC – steel structures smaller projects. built hundreds of thousands of square 22

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