CorD Magazine February 2018 Issue, no.160

NEW VIEW OF SERBIA

H.E. JUNICHI MARUYAMA Ambassador of Japan to the Republic of Serbia

TIME TO STRENGTHEN FRIENDSHIP WITH SERBIA

PEOPLE WHO HATE ARE UNHAPPY

Ambassador of The Sovereign Order of Malta

Actor, poet, writer

RADE ŠERBEDŽIJA

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FEBRUARY ’18 / ISSUE No. 160

H.E. ALBERTO DI LUCA

interviews opinions news comments events PRICE 300 RSD GILLIAN TANS

Closing The Tech Sector’s Gender Gap CRYPTOCURRENCY

The Good, The Bad And The Ugly

DUŠAN VUJOVIĆ SERBIAN FINANCE MINISTER

Strong Consensus On

FURTHER REFORMS NEEDED

E XC L U S I V E

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COMMENT GILLIAN TANS, Project Syndicate

Closing The Tech SECTOR’S GENDER GAP PAGE 6

According to the World Economic Forum’s most recent Global Gender Gap Report, progress toward gender equality eroded last year. For the first time since 2006, when the annual employment study was launched, the percentage of women working in most industries shifted “into reverse.” The slide was particularly acute for women in software and technology development

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CONTENTS

February 2018

STRONG CONSENSUS ON FURTHER REFORMS NEEDED Dušan Vujović, Serbian Finance Minister

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CES 2018

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NEW VIEW OF SERBIA

H.E. Junichi Maruyama, Ambassador of Japan to the Republic of Serbia

THE BEST OF CES

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FACES & PLACES

TIME TO STRENGTHEN FRIENDSHIP WITH SERBIA

H.E. Alberto Di Luca, Ambassador of The Sovereign Order of Malta

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TRANSLATION & EDITING MRP EDITORIAL Halifax Translation Services

CHILL OUT

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TIMEPIECES

THE GOOD, THE BAD AND THE UGLY 84

WESTERN BALKANS BACKSLIDING ON DEMOCRACY

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CULTURE CALENDAR AFTER WORK

Committee Of The House Of Lords

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GLOBAL DIARY 82

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CONTRIBUTORS: Rob Dugdale, Maja Vukadinović, Mirjana Jovanović, Miša Brkić, Radmila Stanković, Steve MacKenzie, Zorica Todorović Mirković, Sonja Ćirić

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Rade Šerbedžija, Actor, Poet, Writer

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COMMUNICATIONS - THE ROAD TO 2018 Guide

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SERBIAN “MESECINA” IN A JAPANESE WAY

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COMMENT

Closing The Tech Sector’s Gender Gap According to the World Economic Forum’s most recent Global Gender Gap Report, progress toward gender equality eroded last year. For the first time since 2006, when the annual employment study was launched, the percentage of women working in most industries shifted “into reverse.” The slide was particularly acute for women in software and technology development GILLIAN TANS, Project Syndicate

T

ech is a key driver of social and economic change, need women with these skills, but they also need women and around the world, women like me are transformwith expertise in other areas, like marketing and finance. And, ing businesses, industries, and communities. Sadly, because having more women in non-technical roles can drive our ranks remain a small fraction of the total workfemale engagement company-wide, corporate leaders should force. Not only do we need more women in the technology ensure that diversity extends beyond functional silos. sector; we also clearly need to refocus energy on improving One of the comments I hear most frequently from women gender equality in the global economy. who are reluctant to enter the tech sector is that the industry Among the many reasons to take this seriously is one any lacks visible role models. As a female tech leader, one of my executive should understand: employing women is good for responsibilities is to share my story and to support, empower, and inspire others, and to ensure that talented women business. In 2013, the European Commission estimated that regard the industry as an attractive option. €9 billion could be added to the European Union’s annual GDP if gender parity was achieved in technology companies.

One way my company is doing this is through femaleSimilarly, a 2014 Credit Suisse report found that firms with only tech initiatives, including a new award that recognizes greater gender diversity on governing boards performed betsuccessful women in the field. The goal of the Technology ter in the stock market, with higher valuations and dividends.

Playmaker Awards is to empower female And yet, despite this economic ratioIn 2013, the European talent, and position women to lead the nale for gender parity, women remain industry into the future. underrepresented in technology firms.

Commission My company has also partnered with Across the EU, for example, among women estimated that €9 Oxford University and Delft University of aged 30 who graduated with a degree in Technology to establish scholarship proinformation and communications technolbillion could be ogy (ICT), only 20% still work in the field. grams for women in technology; estabadded to the By age 45, just 9% are left. In this sense, lished women-in-tech mentoring opporEuropean Union’s ICT is falling into the same traps as old, tunities; and supported digital skills and established industries, which have long annual GDP if gender job-training programs in Europe. failed to do enough to create an environBooking.com is not alone; many other parity was achieved ment in which women thrive. companies across the technology sector in technology To address this gender imbalance, it are taking similar action. Accenture’s chief is imperative that organizations create leadership and human resources officer companies environments that encourage diversity recently announced that by 2025, the at all levels. Executives must strive to build businesses that company’s workforce will be 50% female. And the American women actually want to work for, which means, first and cloud computing company Salesforce recently launched a foremost, implementing non-discriminatory hiring policies “mums in tech” program to bring more working mothers into and benefits packages and removing obstacles that women the industry. face on the job.

Great strides are being made to close the tech sector’s But it also means creating a flat structure and fostering gender gap, but, as with many other industries, parity rea culture of care and confidence in which women can excel, mains a long way off. Leaders from across the sector must where ideas can come from anywhere and are valued. Unforcome together to champion and promote inclusivity. Only tunately, too few companies focus on this area. when we do will our organizations be able to attract and There is a misperception among job seekers that opporretain top female talent, a trend that will benefit both boardtunities for women in tech exist only for those with coding rooms and bottom lines. ■ or engineering experience. To be sure, technology firms do

Author is CEO of Booking.com.

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INTERVIEW

Strong Consensus On

FURTHER REFORMS NEEDED DUŠAN VUJOVIĆ SERBIAN FINANCE MINISTER

It is today abundantly clear that fiscal consolidation produced tangible economic results. They can only be sustained through structural reforms, the success of which depends on renewed political and social consensus among key stakeholders, as well as our ability to put aside short-term, partybased and vested interests and enable the improvement of general welfare

EXCLUSIVE DUŠAN VUJOVIĆ – REFORMER OF THE YEAR 2018 This year's highest accolade 'Reformer of the Year 2018', organised by NALED, was awarded to Dušan Vujović at a ceremony in the Belgrade City Hall.

NALED's Board of Directors made the award to Dušan Vujović for the results achieved in 2017 in the struggle against the grey economy, reform of parafiscal charges and creating of an environment of incentive for developing entrepreneurship.

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BENEFITS

OBSTACLES

ENDURANCE

With successful completion of structural reforms I expect that Serbia will be much better positioned to continuously benefit from EU integration processes

The implementation of specific privatization, restructuring and reform programs was often delayed and the success was, at best, partial due to complex issues involved

After years of consistent and sustainable macroeconomic and growth performance Serbia has earned the trust of rating agencies and financial markets

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erbia has demonstrated its relentless determination to address its dire economic situation over the past three years. The results achieved were rewarded and recognised by international financial institutions, rating agencies, financial markets and national actors. The government has no intention of changing its course in pursuing structural reforms, but in order to achieve sustainable results it needs support from the political and economic elite.

Here we discuss the new IMF agreement, as well as the challenges ahead for the government, with Serbian Finance Minister Dušan Vujović.

■ What has changed in the way finances are managed since there is no arrangement with the IMF? - Almost nothing has changed.

The fiscal consolidation program supported by a three-year precautionary IMF stand-by arrangement has been completed substantively with the approval of the eighth and final review by the IMF Board on December 20, 2017. The program received superlative reviews both in terms of comprehensive program design and macroeconomic (fiscal and monetary) performance which consistently exceeded expectations. Formally, the program will conclude on February 20 with the acceptance of final documents which include macroeconomic data, as well as laws and Government decisions passed as of December 31, 2017.

for Serbia. It allows full coordination of fiscal and macro-monetary policy, and enhanced focus on structural reforms. At the same time PCI has fewer performance criteria as it does not provide access to financing which Serbia does not need given its strong

The fiscal consolidation program supported by a three-year precautionary IMF stand-by arrangement has been completed substantively with the approval of the eighth and final review by the IMF Board on December 20, 2017

■ You once said that “in the context of reforms, it would be good if we had a programme that puts us all in the situation to plan well and realise those plans.” What are your thoughts about cooperation with the IMF today?

- Going forward, the Government will certainly continue regular professional dialogue with the Fund on macroeconomic policies and pending structural and institutional reforms, as well as conduct periodic Article IV consultations mandatory for all member countries. Although informal dialogue may sound appealing, formal IMF programs have many advantages albeit with some strings attached. One such program is the new Policy Coordination Instrument (PCI) which appears to be a very good fit

fiscal balance position and continuously declining debt-to-GDP ratios.

I hope that the scope and format of future collaboration with the IMF will be agreed soon enough to sustain the strong positive message sent to international financial markets at the end of 2017, as well as provide reliable parameters for the timely preparation of the 2019 budget which should gradually converge to the EU semester system.

■ How does the Economic Reform Programme for the 2018-2020 period respond to some of the obstacles hampering growth?

- Economic reform programme (ERP) is a specific instrument of the European Union designed for candidate countries to evaluate and monitor the progress of economic reforms. The first part of the report focuses on recent macroeconomic developments, and provides detailed forecasts for the next year (2018) and less detailed projections FEBRUARY

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for the subsequent two years (2019-2020). In format and scope it coincides with the Fiscal strategy and, thus, conveys the same key assumptions and projections contained therein. The second part of the ERP report deals with 18 sectoral priorities across 9 thematic areas set by the EC. Specific priorities are identified by the leading ministries responsible for physical and social infrastructure based on their impact on future sustainable growth and development.

Special attention is paid to crosscutting themes that can create a breakthrough and get the economy on a sustainable higher growth path. Most vivid examples are projects expected to enhance the competitiveness of Serbian companies by providing easier ac-

- Although the first stage of economic reforms focused primarily on fiscal consolidation, it devoted considerable attention to initiating important structural reforms. The legacy of structural problems included more than 500 problem SOEs held in the portfolio of the Privatization Agency, inefficient public utility and transport companies, state owned and private banks with large share of NPLs, and, last but not least, inefficient public administration at all levels of government. Separate privatization, restructuring and reform programs were prepared for each subset in the earnest (late 2014 and the first half of 2015). Unfortunately the implementation was often delayed and the success was, at best, partial due to complex economic, technical, managerial, legal, and political economy issues involved.

Three years later, it is abundantly clear that fiscal consolidation produced tangible economic results which can only be sustained through structural reforms. The success of these reforms hinges on renewed political and social consensus among key stakeholders: political parties, labour unions, professional and non-government organizations, as well as the elite and opinion-makers.

Short-term partial and vested interests will have to give in to enable general welfare improvement.

Presently this is still not the case. Small interest groups are stalling the reform process in order to preserve their privileged positions and entitlements. These are often misaligned with market and democratic outcomes and, hence, unsustainable in the medium run. More effective social and political dialogue is needed to identify and resolve these issues and, thus, unlock the much needed continuation of economic and social change.

■ Why has the government not yet mastered cess to the EU markets through better the task of planning and managing major I hope that the scope infrastructure and trade facilitation investment projects? as well as “soft” programs aimed at - We are almost there. Establishing a transparand format of future ent and efficient system for investment project tax administration reform, public ficollaboration with the nancial and investment management, management is a comprehensive multi-year task.

IMF will be agreed soon improved education system and more Over the last few years we have developed a “logenough to sustain the efficient labour markets. frame system” spanning all steps of investment In short, ERP provides a standard strong positive message project cycle: from identification, via preparation tool to evaluate macroeconomic policy and appraisal, to implementation, monitoring and sent to international choices and select a limited number evaluation. In mid-2017, after a long professional financial markets at of priority programs. These programs debate, the Government approved a Decree on the end of 2017 have critical importance in enabling capital investments which came into force at the the country to better respond to exbeginning of this year. Detailed instructions for ternal and domestic challenges and generate stable, sustainable, the implementation of the Decree, manuals and hands-on training and inclusive medium term economic growth. programs are currently being finalized.

Admittedly, the first stage took longer than anticipated, but ■ You have for years announced the intensifying of this can easily be compensated if the new methodology is implemented without delays and in line with the best international structural reforms, but they are not happening at pace practice followed by OECD countries and IFIs (such as the World anticipated. You once claimed that strong resistance Bank, EBRD, EIB etc.). Going forward, all investment projects exists. Does it still exist, or is something else now slowing them down? will be scrutinized at an early identification stage to establish 10 |

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their relevance for the longer term development strategy. Next, all projects will be tested through pre-feasibility and feasibility studies, and formally appraised to ensure that project components guarantee the achievement of development objectives (efficacy) and efficient use of limited public resources.

Finally, best financing will be secured from available long-term sources: IFIs, bilateral sources, and financial markets.

recession and exogenously caused growth slowdown (floods). In July 2014 projected fiscal deficit for the year was 8.8 percent of GDP. Fiscal liquidity was at the minimum threatening to reach the point of bankruptcy in 78 days. The third quarter GDP fell by 3.7 percent.

The situation was equally worrisome on the real side. Economic reforms were stalled. Privatizations and restructuring of SOEs were halted by the legal protection of distressed companies to prevent landslide bankruptcies. Public utility companies were directly tapping budget resources (through budget financing and/or guarantees) to cover their chronic losses while avoiding the much needed managerial, organizational and financial restructuring.

■ Serbia’s credit rating has improved again. How will that influence you in decisions to borrow on the internal or external markets?

- After years of consistent and sustainable macroeconomic and growth performance Serbia has earned the trust of rating agencies and financial markets through significantly lower interest spreads on all (especially longer-term) maturities. This will have a positive influence on our decision where and when to raise financing.

During the past two-three years Serbia did not issue large long-term bonds in international markets for three reasons. Firstly, our actual gross borrowing needs were markedly (one-two billion Euros) lower than originally planned stage due to significantly better fiscal performance: Actual fiscal deficits were two-three percent of GDP better than planned. Secondly, interest costs declined much faster in the domestic market, on smaller bond issues, and on shorter-to-medium term maturities. Thirdly, we had access to abundant low cost long-term financing for budget support from the World Bank and bilateral sources.

As a result, during the past few years we opted for cheaper sources of financing (domestic issues, IFIs and UAE loans) and, thus, significantly More effective social lowered the interest cost both in absolute (by 250 million Euros) and relative terms (by 1 and political dialogue is percent of GDP). Over time and with improved needed to identify and credit rating, Serbia can now raise longer term resolve structural reform financing in international financial markets at issues and, thus, unlock below two percent. This makes large international markets equally attractive and, thus, increases the the much needed probability of issuing large ten-year bond(s) this continuation of economic year. The decision will depend on the evolution and social change of market circumstances in the coming months.

■ Why hasn’t Serbia used a positive wind in its sails from the growth of demand in European economies, the supply of cheap capital, and favourable prices of its exports?

Why, for example, is Slovenia recording strong economic growth precisely as a result of such factors?

- Before answering this question it is important to recall our starting macro-fiscal position and the status of reforms.

Serbia entered the three-year fiscal consolidation program at the lowest point of combined fiscal and debt crisis, protracted

Public administration was burdened with excess employment and wages higher than in the private sector.

Despite these starting difficulties and the likely prospect of facing the recessionary impact of fiscal consolidation program, we managed to record both a significant fiscal improvement and an economic growth turnaround. From the fourth quarter of 2014 GDP continuously improved to reach 2.8 percent growth in 2016 and a projected 3 percent growth in 2017. Given that the lower actual growth (2 percent) was caused entirely by supply side factors, and that the economy is projected to recover to 3.5 percent in 2018 and embark on a sustainable 3.5-4 percent growth path in the medium run, the economic revival embedded in the 2015-2017 fiscal consolidation program can rightly be considered a case of “expansionary austerity”.

Moreover, unlike the situation at the start of reforms in 20012008 period, when demand driven growth failed to generate sufficient domestic supply response and led to unsustainable increases FEBRUARY

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in twin (fiscal and current account) deficits, we can now count on positive impact of wage and pension increases on economic growth.

Now back to your question. Obviously, during the past three years Serbia has spent enormous amount of energy in addressing difficult legacy questions of the past and was not yet ready to quickly and efficiently respond to growth opportunities that you rightly mention. With successful completion of structural reforms and ongoing infrastructure and soft reform programs (including but limited to vocational training, innovations, digital economy etc.), I expect that Serbia will be much better positioned to continuously benefit from EU integration processes, both in terms of job creation, economic growth and improved wellbeing for all citizens. Moreover, I strongly believe that Serbia will open an entirely new chapter in its growth potential by completing institutional reforms necessary to attract large institutional investors and substantially revive presently lethargic domestic capital market.

mean for Serbia’s preparations in the area of finance?

- It is likely that the EU will aim to include all of Western Balkan countries by 2025. I am convinced that Serbia can meet all the criteria within the next 3-4 years and become a member much sooner.

There are a number of chapters that deal with broad financial and fiscal issues. In general we made solid progress in preparing negotiating positions and are ready to open these chapters in the coming years. Pending adjustments needed to meet EU requirements vary across chapters and involve both policy and legal issues.

The movement of capital (Chapter 4) will require considerable liberalization on the capital account (especially short term capital flows), fuller integration of the payment systems, and full observance of the AML-CFT standards. In the area of financial services (Chapter 9) we will need to achieve full alignment with the EU in banking, insurance, financial markets, securities markets, and investment services. Regarding taxes (Chapter 16) the main task is to align excise taxes on liquor based on alcohol content. In the area of economic and monetary policy (Chapter 17) the main pending task is to secure full independence of the central bank. For customs union (Chapter 29) the main issues are in the areas of aligning administrative procedures, IT systems, and in capacity building. Regarding public financial control (Chapter 32) the main focus is internal financial control in the public sector, external audit, protection of the financial interests of the EU, and prevention of Euro counterfeiting. Finally, in the area of financial and budget issues (Chapter 33) we do not expect a need for major adjustment.

■ When can we expect para-fiscal charges to finally make the reform agenda? Why have we been waiting several years for that?

- Improved treatment of para-fiscal charges went through several stages. First stage was focused on identifying and compiling more than 500 fees and charges. In this multi-year effort we greatly benefited from direct and indirect assistance provided by donors, academic researchers, professional alliances and organizations (including Serbian and many bilateral chambers of economy), NGO’s etc. The second stage was devoted to separating administrative fees (takes in Serbian) from charges, and to organizing, ■ In December 2017, the Parliament analysing and systematizing the enormous adopted amendments to the Law on set of charges. The third stage developed a the Settlement of the Public Debt of unified framework for equal treatment of the Republic of Serbia Arising from Establishing a all charges and produced a draft law which Foreign Currency Savings which transparent and efficient Unpaid is presently being presented for public extended the deadline for the submissystem for investment sion of claims until February 23, 2019. debate. The fourth stage will consolidate project management is How much does this debt amount to all proposals and submit the final proposal in total and what will be the dynamics (draft) for government approval and cona comprehensive sideration in Parliament before the summer of payment? multi-year task. We are recess. The fifth stage will be devoted to - The exact amount of liabilities for the Republic almost close to finish it capacity building and preparation for the of Serbia based on these claims will only be implementation starting, I hope, January known upon the completion on the process of 1, 2019. The sixth stage, expected in few years, will provide a filing claims (by the extended deadline) and verifying the amount of basis to consolidate and simplify multiple related charges with claims submitted by eligible citizens of the former Yugoslav republics considerable benefits for domestic and foreign investors, as well who had saving deposits in branches of Serbian commercial banks as favourable fiscal and growth effects. operating on the territory of SFRY. Maximum amount of claims (ceiling) has been set at 310 million Euros. The claims will be paid over five years in ten equal semi-annual instalments. The first payment is ■ Serbia seemingly has the opportunity to become a due on August 31, 2019 and the last on February 29, 2024. ■ member of the EU before 2025. What exactly does this 12 |

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NIPRO FACTS: • 1 OUT OF EVERY 5 HEMODIALYSIS PATIENTS GLOBALLY ARE TREATED WITH A NIPRO DIALYZER; • EACH DAY, OVER 100,000 NIPRO DIALYZERS ARE USED AROUND THE WORLD; • NIPRO CURRENTLY MANUFACTURES EACH YEAR: > 43 MILLION DIALYZERS > 180 MILLION AVF NEEDLES FOR HEMODIALYSIS > 35 MILLION BLOODLINES FOR HEMODIALYSIS > 11 BILLION CANNULA NEEDLES > 5 BILLION GLASS AMPOULES > 2 BILLION GLASS VIALS

INTERVIEW

New View

OF SERBIA H.E. JUNICHI MARUYAMA

AMBASSADOR OF JAPAN TO THE REPUBLIC OF SERBIA

It is important that the country name of Serbia will be much more highly penetrated into the Japanese society due to the Prime minister’s visit. Back in Japan, there must have been a lot of news reporting about the visit. So, ordinary Japanese people will hear more on Serbia; that it is a peaceful country now, that the warfare is over and that they could now consider traveling or investing in Serbia now. That might bring a good opportunity – H. E. Junichi Maruyama

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he list of countries visited by Japanese Prime Minister Shinzo Abe during his tour of European countries in January also included Serbia. Despite being the only stop of the six on the Japanese PM’s tour that is not an EU member state, PM Abe stated that Serbia nevertheless “holds the key to the stability” of the Western Balkans.

Although Japan and Serbia have good bilateral relations, more than three decades had to elapse before a Japanese premier would returned to Belgrade, so this visit was characterised as historic. We discuss it here with Japanese Ambassador to Serbia H.E. Junichi Maruyama.

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During his talks with the Serbian president and prime minister, PM Abe proposed the strengthening of cooperation with the countries of the Western Balkans, and said that in Serbia he hoped for particular focus to be placed on strengthening the economic cooperation discussed with the representatives of Japanese companies who accompanied PM Abe on his trip to Serbia.

Ambassador Maruyama also announced a new form of linking Serbia and Japan – the engagement of young Japanese volunteers who will help locals in the villages of Serbia and get acquainted with the culture and customs of their hosts.

POLICY

AIM

SOCIETY

A general policy of the Abe administration is to try to visit foreign countries as often as possible

The aim of this visit was to expand the frontiers of Japanese friendship or the frontiers of Japanese foreign relations

Japanese companies have the advantage and there are fields were Japanese society can contribute a lot to Serbian society

■ Your Excellency, how would you estimate the outcome of the recent visit of Japanese Prime Minister Shinzo Abe to Serbia?

- In my opinion, the visit of the Japanese Prime Minister to Serbia turned out to be a big success. Let me remind you that the last time the Japanese prime minister visited Belgrade was 1987, when former Prime Minister Nakasone came to Belgrade. So, after an absence of 31 years, the Japanese prime minister has again visited Belgrade, which is a very meaningful event. This time a delegation of Japanese businesspeople joined for the visit and, in addition, there was a signing ceremony for the agreement to dispatch our young peace corps to Serbia. All in all, we evaluate the Prime Minister’s visit as a great success.

■ In which direction could PM Abe’s initiative on cooperation between Japan and the Western Balkan countries, especially Serbia, now develop?

- Of course, due to the Prime Minister’s visit, I hope that bilateral relations with Serbia will be further strengthened. But the Prime minister also spoke about the Western Balkan Cooperative initiative. That would be a useful instrument with which Japan can provide a cooperative framework for Serbia and other Balkan countries. At the same time, it is important that the name of Serbia will penetrate much deeper into Japanese society thanks to the Prime minister’s visit. Back in Japan, there must have been a lot of news reporting about the visit. So, ordinary Japanese people will hear more about Serbia; learning that it is now a peaceful country, that the warfare is over and that they could now consider travelling to or investing in Serbia.

That might be a big opportunity.

opportunity to visit foreign counties since he assumed the position of Prime Minister in January 2013. He had visited 129 countries to date, and with the six countries of the European tour that total is now 135. Why not Serbia? That’s the answer!

■ There were comments and analyses noting that PM Abe decided to visit European countries that

Japanese Prime Minister SHINZO ABE and Serbian President ALEKSANDAR VUČIĆ

A delegation of Japanese businesspeople joined the PM for the visit and in addition we had a signing ceremony for the agreement to dispatch our young peace corps to Serbia. All in all, we evaluate the Prime Minister’s visit as a great success

■ Speaking of Serbia, in an interview he gave before coming to Belgrade, PM Abe said that Serbia holds the key to the stability of the region. What were the other reasons for including Serbia as the only non-EU member in his European tour?

- The general policy of the Abe administration is to try to visit foreign countries as often as possible. He has taken every

have special relations or problems with Russia. Given the turbulent relationship between the European Union and Russia, and considering Japan’s good relations with both, did such a reality contribute to the selecting of stops for this European tour?

- The aim of this visit was to expand the frontiers of Japanese friendship or the frontiers of Japanese foreign relations. So, that means the Prime minister likes to visit as many counties as possible, including medium or small ones. That’s why he decided this time to visit the Baltic states and some of the Balkan countries.

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■ People who followed relations between Japan and Serbia, and with Yugoslavia in the past, would say that there have been many missed opportunities to benefit from business initiatives coming from Japan. The former Yugoslavia allegedly didn’t really utilise the fact that it had a privileged trade status in Japan. And the economic exchange between Japan and Serbia remains modest even today. Do you believe the visit of Japanese businesspeople, representatives of 16 Japanese companies, who joined PM Abe’s delegation in Serbia, could boost economic relations?

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Brnabić and their Serbian partners, which was a very good and meaningful opportunity. But the Prime Minister’s visit is just the beginning; the realisation of investments requires patience.

It is now our embassy’s job to keep inviting Japanese people to this country. In order to do that, we need cooperation from the Serbian side, both from the public and private sectors.

■ Which fields of cooperation are potentially interesting for Japanese companies?

- I don’t know, because that’s a decision of businesspeople.

Government doesn’t get to say this or that is right; Japan functions as a market economy. But looking at the example of the companies already present in Serbia – JTI, the tobacco industry, Yazaki, which produces automobile parts, and Panasonic, with its electrical appliance parts – the manufacturing industry is clearly one of the focuses for Japanese companies.

At the same time, I think they are also looking at the IT sector. There were some IT companies in the Japanese delegation, while Serbian companies expressed interest in cooperation in the food processing sector. So, we’ll see how all of this evolves into business investments.

■ Serbia is negotiating its accession to the EU and protecting the environment is one of the items on the agenda. Special attention was paid during PM Abe’s visit to cooperation between Japanese company Mitsubishi Hitachi Power System and Serbia’s Nikola Tesla Thermal Power Plant. This relates to the reduction in emissions of sulphur-dioxide Some expressions have or, in other words, the reduction of air - Of those 16 Japanese already been made as to pollution. Could that be a field of further companies, several cooperation with Japanese companies? have already started whether you need such Those are fields where Japanese companies investing in Serbia, expensive procedures, and we -have the advantage and fields where the Japanese while several don’t fully understand those kinds can contribute a lot to Serbia. However, at the know much about Serof opinions. However, that’s a same time we ask for your understanding: these bia. It is a little early to say how things will kinds of operations, like the one you mentioned kind of thing you have to develop further. Howto the reduction of sulphur-dioxide accept in order to develop your related ever, in my opinion, emissions, require some costs. Some exprescounty or reach the status of a sions have already been made as to whether it was an excellent highly developed country. you need such expensive equipment and we opportunity for the fully understand those kinds of opinions. But Japanese business that’s a kind of thing you have to accept in order to develop delegation to attend the briefing about the current business your county or to reach the status as highly developed country. climate in Serbia, given by the Serbian Chamber of Commerce.

I also think that during the expanded meeting, which included ■ When it comes to awareness of the importance of not only members of the two governments, but also business environment protection, how much do Serbia and delegations from both sides, Japanese business leaders were Japan differ? able to express their opinions directly to President Vučić, PM 160

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- Social awareness is very important in Japan, as it is in any so large, in fact, but in the longer run it is an investment in developed country. In this country you do not have a system human capital. Imagine those young Japanese people living of waste separation, for example. Here there is no way to in Serbia with Serbian citizens under the same environments separate bottles, cans, paper or food for two years. They will learn the same when discarding waste. In Japan we language, learn about the culture, eat The framework enables must separate them. Every time when local food etc., and hopefully become young Japanese people throwing away our waste, we feel guilty big fans of Serbia. When they go back to come to Serbia and go to Japan, when they become businessif we don’t separate. It is all part of a to rural areas, to live with men, professors or teachers, they will mental framework, but it also comes speak well of Serbia, where they spent with education and training. local people and try to help or contribute to the some time while they were students. As I said, it is a long-term human capital ■ How do you plan to put into local education system, investment for Serbia, only that you practise the Agreement on discapacity building, patching Japan Overseas Coopdon’t have to pay any money. That is eration Volunteers, which was our job. I think that such a scheme, or hospitals… signed by yourself and Serwhich Japan has also developed with bian Minister of European Integration Jadranka other countries, will be very good for both Japan and Serbia.

Joksimović?

- The framework enables young Japanese people to come to ■ When will the first volunteers arrive in Serbia?

Serbia and go to rural areas, to live with local people and try - We will have to launch the procedure this year and, hopefully, complete it by the end of the year, so that young people to help or contribute to the local education system, capacity can start arriving here next year. ■ building, or hospitals. The degree of their contribution is not

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INTERVIEW

Time To Strengthen FRIENDSHIP WITH SERBIA H.E. ALBERTO DI LUCA

AMBASSADOR OF THE SOVEREIGN ORDER OF MALTA

Today in Serbia there are only two Knights who are members of the Order: the Catholic Archbishop of Belgrade, H.E. Mons. Stanislav Hočevar, and Prince Alexander II Karađorđević. Establishing an Association of Knights of the Order requires at least 10 of them. There is an idea to set up an Order of Malta Friendship Group, to welcome potential future Knights and young volunteers who are ready to collaborate on humanitarian activities

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he Order of Malta, or the Sovereign Military Hospitaller Order of Saint John of Jerusalem of Rhodes and of Malta, which is the full name of the state, is one of the oldest institutions of Western and Christian civilisation.

A lay religious order of the Catholic Church since 1113AD and a subject of international law, the Sovereign Order of Malta is today a global institution offering professional medical, social and humanitarian aid. Its 13,500 members, 80,000 permanent volunteers and qualified staff of 42,000 professionals – most of whom are medical personnel and paramedics – form a network that includes everything from hospitals, general medical care

HELP

CHARTER

MEMBERS

Everywhere in the world we try to help those who suffer or are in need, without asking what religion they belong to or what political belief

Our Constitutional Charter is still the one elaborated in 1961 and subsequently only amended in some points, until 1997

Today in Serbia there are only two Knights who are members of the Order: the Catholic Archbishop of Belgrade, H.E. Mons. Stanislav Hočevar, and Prince Alexander II Karađorđević

and social services, to emergency relief for the victims of war or famine and interventions in areas struck by natural disasters.

Its programmes – run independently or within the framework of partnerships with governments and international agencies – are currently active in 120 countries worldwide. Diplomatic relations between the then Kingdom of Serbia and the Order of Malta were established in the mid-19th century. During the Serbian-Bulgarian War of 1885, the Order of Malta donated a medical train to Serbia with ten wagons, representing the Order’s first ever donation to Serbia. Diplomatic relations were interrupted after World War II and only reestablished on 1st May 2001.

■ Your Excellency, you recently received the title of Grand Cross pro Merito Melitensi. How do you feel as a holder of the highest recognition used to decorate civilians by the Sovereign Order of Malta?

- It was certainly a great honour to receive the highest award pro Merito Melitensi. I consider it a strong encouragement for me, and for all my good collaborators, to continue and intensify the humanitarian and social work of our Embassy in Belgrade.

■ The Order of Malta is most recognisable in Serbia due to its humanitarian work, especially in terms of support for the poor and the sick. In 2017, among other things, you helped to ensure a number of seriously ill patients received top-notch medical treatment and care. What are your plans for 2018?

- You refer to the “Make a WISH to the Order of Malta” project. This project of ours is in its fourth year of realisation. It has been and is always moving to see through the eyes of the children, and their parents, an unexpected joy... so we decided to propose the same format again for 2018, though this time perhaps not necessarily limiting it to children only.

- Primarily thanks to my colleagues who collaborate in our diplomatic mission, as well as available friends and acquaintances, who – as in the case of the project “A hot meal in a cold winter” – have

A lay religious order of the Catholic Church since 1113 and a subject of international law, the Sovereign Order of Malta is today a global institution offering professional medical, social and humanitarian aid. Its 13,500 members, 80,000 permanent volunteers and qualified staff of 42,000 professionals

■ How do you collect the funds that are used by the Order of Malta to help poor and sick people worldwide?

organised Charity Dinners to support the projects. We can also count on the support of other institutions: this is the case with the Government of Taiwan, which was a generous donor of our “Make a WISH to the Order of Malta” project for the third year.

■ Serbia is one of 106 countries worldwide to have established diplomatic relations with the Sovereign Order of Malta. How would you describe those relations today?

- I am pleased to be able to correct you, because now there are 107 countries.

In fact, this happened at the end of 2017, with the signing of diplomatic relations with Germany, where we are very present with relevant activities at both the national and international levels of FEBRUARY

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Malteser, a body responsible for the concrete implementation of cooperation projects. The increase in the number of countries recognising our Sovereign Order shows ever-increasing dynamics, even among countries where the Orthodox Church is prevalent, and I believe that this year we will achieve further significant developments with a country that has a strong Orthodox presence.

■ You are one of the longest-serving ambassadors in Serbia. How do you see the changes in Serbia and the region compared to the period when you arrived in Belgrade?

- Serbia is an interesting and fascinating country, with a rich and complex history characterised by many lights and, as with all peoples, also shadows caused by periods of suffering during the wars and due to the long dictatorship. I see a strong desire to emerge, to fight to improve economic and social conditions and to keep pace with the times. Even in the bureaucracy, which is afflicted by ancient slowness and complications, I have noticed some improvements in recent years, which need to be accelerated. We have experienced this directly with some of our humanitarian projects being slowed by an outdated mentality and obsolete procedures. I trust that, in the interest of a modern and European Serbia, these remnants of the vetero-communist state-ism will quickly disappear.

today actually our Project Manager, running the “Make a WISH to the Order of Malta” project. I have a cordial friendship with the current President of the Parliamentary Group of Friendship, Deputy Speaker of the Assembly, the Hon. Vladimir Marinković.

An example of constructive interaction is represented by this group’s support for the signing of the bilateral Postal agreement.

■ Can you explain why the so-called “Postal agreement” is important for the Order of Malta?

- I would like to answer the question as to “why Serbia does not consider it important?”, but I’ll try to explain myself better. The Sovereign Order of Malta has its own government, embassies and permanent representative offices, issues its own diplomatic and service passports, and also has its own philatelic issues. Besides the fact that these issues have a relevant philatelic value all over the world, we can send and receive post with almost 100 countries on the basis of agreements recognising the reciprocal stamps affixed to correspondence. In the absence of such specific agreements, as it is known, it is not possible to exchange correspondence. In 2018, I would like us to reach the point of signing the agreement, even if, in fairness, I have to say that nobody – in government or elsewhere - has ever said no... but we are still awaiting the desired final result.

■ How connected to the Balkans is ■ The Serbian National Assembly the Order of Malta and how does established a Friendship group your Order view the fact that two with the Sovereign Order of Malta a few years ago. It is today of the largest relics of the Order Serbia is an interesting and presided over by the assembly’s of Malta are held in Montenegro? deputy speaker. How satisfied are - Every ambassador thinks primarily fascinating country, with a you with the work of this group? of carrying out their work dedicated rich and complex history - I am very satisfied! The first President, to bilateral relations in the best poscharacterised by many lights sible way. Among those of us who are the Hon. Prof. Nenad Prokić, opened and, as with all peoples, also colleagues in the region of Southeast a path of mutual knowledge, friendship and collaboration several years shadows caused by periods of Europe there is continuous dialogue ago. I remember the first meeting in suffering during the wars and and comparison, for obvious reasons the National Assembly, during which of closeness. From a spiritual perspecdue to the long dictatorship tive, the venerated relic of Our Lady someone asked – arousing surprise and of Philerme, protector of the Order, bewilderment – if the Order of Malta which is kept in Cetinje in Montenegro, represents a religious was a sort of “masonic order”! Few people knew us then for what reference of the highest significance. On the ground of collabowe have been for almost a thousand years and what we represent ration in humanitarian initiatives, for example, we are checking in the 120 countries where we are present. This parliamentary the possibility of extending participation in summer camps of group of friendship has made, and continues to make, an essential “Creative Holidays”, which have been organised for five years contribution to the correct presentation of the reality of the Order by our Embassy in Bulgaria, to include Serbian children. of Malta, its history and its system of values and ideals. Prokić is 20 |

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■ The successor to the last Serbian Dynasty, Prince Alexander II Karađorđević, is a knight of the highest rank in your Order. How is your cooperation with him?

- Excellent! Prince Alexander was the “patron” of the first edition of the “Make a WISH” project, when we provided tangible aid to almost 2,000 Serbian children, who wanted a PC or a van to share to go to school, or who needed electric wheelchairs for those suffering from disabilities, or bicycles etc. The Prince led the Evaluation Committee, which selected the “WISH” to be satisfied from the thousands of letters received by the Embassy.

■ Given that you are a Catholic religious order, how do you cooperate with other religious communities in Serbia, primarily the Serbian Orthodox Church?

- It is undeniable that we are, proudly, also a Catholic Order. But everywhere in the world we try to help those who suffer or are in need, without asking what religion they belong to or what political belief they hold. We were told three years ago by Dr Daniel Galun (of the Clinical Centre of Serbia) that a Social Centre run by Orthodox Sisters near Paraćin - Saint Petka - had many needs. During that year we provided them with required medical equipment, food, consumables, industrial washing machines and dryers, and even an ambulance. I had the honour and the opportunity to present the “Make a WISH” project to H.H. Patriarch Irinej and receive his blessings.

modernise one of the “oldest institutions of Western and Christian civilisation”. What do you expect from this process?

- Our Constitutional Charter is still the one elaborated in 1961 and subsequently only amended in some points, until 1997. We have to review and strengthen some of the rules that regulate the life of members belonging to the “first class”, that of the Professed (those who make the three votes), which have remained unchanged for over 50 years. There are numerous certainties that accompany this process of reforming our Constitutional Charter and Code. Our sovereignty and independence will have to be maintained and, with the establishment of diplomatic relations with the Federal Republic of Germany on 15th November, this has been confirmed very well. Another certainty is that we have been, and will continue to be, a religious Order. In some press we could read that the Order could be transformed into an NGO. In all these months nobody has proposed of even considered that!

Ignorance and hunger are the two most common things in the world! In the 120 countries where we are present and active, we work in the open: our objectives, our millenary values, spiritual and moral, and our style of commitment and work are known, clear and unequivocal

■ How do you respond to the claim that the Order of Malta gathers together people who are “those who rule the world from the shadows”?

- Is it enough if I answer by saying that so many people say stupid things, equally coarse and groundless! Ignorance and hunger are the two most common things in the world! In the 120 countries where we are present and active, we work in the open: our objectives, our millenary values, spiritual and moral, and our style of commitment and work are known, clear and unequivocal.

■ Those who are familiar with the situation draw attention to the importance of the upcoming changes to the Constitution of the Order, which will allegedly

■ How much progress has been made in the process of forming the Group of Friends of the Order of Malta in Serbia, which should develop in the future to become the Association of the Knights of the Order in Serbia?

- Today in Serbia there are only two Knights who are members of the Order: the Catholic Archbishop of Belgrade, H.E. Mons. Stanislav Hočevar, and Prince Alexander II Karađorđević. Establishing an Association of Knights of the Order requires at least 10 of them.

There is an idea to set up an Order of Malta Friendship Group, to welcome potential future Knights and young volunteers who are ready to collaborate on humanitarian activities. I hope we will be able to see this group formed in Serbia during this year.

■ Will you again invite members of the diplomatic corps accredited in Serbia to attend an opera at the National Theatre on your National Day this year?

- We are in contact with the Director of the Theatre, Maestro Dejan Savić, and some artists in order to see if we will be able to bring international artists to Belgrade again this year. It is not yet certain, but I am working on that. ■ FEBRUARY

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IMPERFECTION

GLOBAL DIARY

“Next time someone complains that you have made a mistake, tell him that may be a good thing. Because without imperfection, neither you nor I would exist.” - Stephen Hawking, English theoretical physicist, cosmologist, author and Director of Research at the Centre for Theoretical Cosmology at the University of Cambridge

WORLD ECONOMIC FORUM 2018 ▶ Some of the richest and most powerful people came this year to the World Economic Forum (WEF), which officially began in Davos on 23rd January. The WEF began as a small conference on management in 1971. The founder, Klaus Schwab, had the modest goal of introducing American management techniques to underperforming European firms. This year the WEF hosts, among many others, Emmanuel Macron, Angela Merkel, Theresa May, Justin Trudeau, Benjamin Netanyahu, Mauricio Macri Emmerson Mnangagwa and Narendra Modi. Traditionally, American presidents don’t attend, but this year Donald Trump has, surprisingly, decided to jet in. The WEF also invited heads of charities, trade unions, academics and nongovernmental organisations, in order to counter the accusation that Davos is simply about plutocratic elites talking to other elites. The companies with annual corporate membership and partnerships fees ranging between 60,000 and 600,000 Swiss francs.

BORSALINO DECLARED BANKRUPT ▶ Famed Italian hatmaker Borsalino,

the company behind Humphrey Bogart’s fedora in “Casablanca” and

Harrison Ford’s lucky headgear in the “Indiana Jones” movies, was declared bankrupt at the beginning of January.

Michael Jackson loved Borsalino hats, trend-setting music star Pharrell Williams is a contemporary fan and David Bowie opted for one of the Italian house’s black fedoras for what was to prove his final photo shoot.

The 1970 French gangster film “Borsalino” was also named after the distinctive fedora-style hats worn by heartthrob actors Alain Delon and Jean-Paul Belmondo.

But even the endorsement of film and music royalty could not protect the 160-year-old company from the consequences of reckless management.

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INDIAN PRIME MINISTER NARENDRA MODI

NORWAY - BEST COUNTRY IN EDUCATING ▶ Norway has been ranked the best

country in the world when it comes to the training and education of its population. According to the newly released Human Capital Report 2017, Norway is the best country in the world in educating its population namely investing in human capital.

Northern European countries lead the way when it comes to making the most of the skills of their people, and giving them the best educational opportunities, according to World Economic Forum.

Norway is followed by Finland and Switzerland. Two other Nordic nations, Denmark and Sweden takes the fifth and eight place in the list.

The Human Capital Index ranks 130 countries on how well they are developing their human capital on a scale from 0 (worst) to 100 (best) across four sub-indexes – capacity, deployment, development and know-how.

PAY FOR TIME SPENT DRINKING INSTEAD OF DRINKS ▶ A unique venue has opened in

Belgrade, where you can drink coffee and eat waffles or muffins and be charged for the time you spend there, rather than for the food and drinks

you consume. Share Square is, thus, the first café in Serbia to function according to the principle of paying by the hour. Behind Share Square is non-profit organisation Coordinaide, which has the mission of creating strong foundations for strengthening local communities by connecting individuals, groups, organisations and companies. Other than being a co-working space and an anti-cafe, Share Square is a physical space where members of the public can socialise and share skills, knowledge and information in an informal but organised and affordable way for all.

Share Square adopts the principles

PRINCE ALBERT OPENS CIRCUS FESTIVAL IN MONTE CARLO ▶ This year’s Monte Carlo Circus Festival celebrates 250 years of the

“modern circus”. It was in 1768 when a young equestrian named Philip Astley performed in London, in a field near Westminster Bridge, on a circular ring 13 metres in diameter. His equestrian show mixed acts from the fair – jugglers, equilibrists, funambulists and even trained dogs and monkeys – and the modern horse-mounted circus was born.

The International Circus Festival in Monte Carlo hosted a gala evening on 23rd January, presenting gold, silver and bronze Clown Awards.

Circus performances continued until 28th January, culminating with the winner’s show.

On 19th January 2018, Princess Stephanie of Monaco, Pauline Ducruet and Camille Gottlieb attended the Festival. The 42nd event was held at the Chapiteau of Monaco (Chapiteau de l’Espace Fontvieille), an open-air amusement park by the sea.

CHILDREN

“We want the world our children inherit to be defined by the values enshrined in the UN Charter: peace, justice, respect, human rights, tolerance and solidarity. All major religions embrace these principles, and we strive to reflect them in our daily lives.”

- António Guterres, United Nations Secretary-General

VEVCANI CARNIVAL BRINGS IN MACEDONIA ▶ One of the most famous village festivals held in the Balkans, the Vevcani Carnival, took place last month in the western Macedonian village of Vevcani.

Carnival-goers wore masks depicting the likes of Donald Trump, Vladimir Putin and Angela Merkel, as well as others related to the ongoing name dispute with Greece, continuing the long-established tradition of commenting on and satirising current events, politics and trends.

Merging old Pagan rituals with Christian motifs, this 1,400-year-old carnival has become a major tourist attraction in recent years, creating a new phase in the Orthodox Christian religious calendar, following Christmas and New Year.

of the sharing economy to lessen the cost of learning while also lowering the barriers to entry for those who have something to teach or share.

The Share Square concept came about due to the fact that there is monumental demand for the sharing of skills and knowledge online through social media platforms, but none that exist in “real life”.

STUDY REVEALS A COMMON BEAT IN GLOBAL MUSIC ▶ A new study carried out by the

University of Exeter and Tokyo University of the Arts has found that

ings of the National Academy of Sciences (PNAS), support the idea that music is a powerful social adhesive that helps bond societies together.

THE PRICE OF “DIGITAL CITIZENSHIP” songs from around the world tend to share features, including a strong rhythm, that enable coordination in social situations and encourage group bonding. Despite decades of skepticism about the presence of cross-culturally universal aspects of music, the study provides strong evidence for the existence of common features in global music. The results, which are published in the Proceed-

▶ According to the most recent pro-

jections, the digital giants Facebook and Google are expected to have

sell it to companies, and those ads are then exposed to the users, which leads to more detailed user profiles, which are then sold to the companies – rinse and repeat ad infinitum.

WHY MEGHAN MARKLE CAN'T SIGN AUTOGRAPHS? ▶ Marrying into the royal family

comes with a long list of rules that Meghan Markle is quickly learning for herself, even before she walks down the aisle.

scooped up half of global digital advertisement revenues in 2017.

What these giants are dealing in, is the exposure and collection of information. They filter and expose information to the user while they browse sites for friends, articles, political content, or more tangible consumer products covering everything from hygiene products to lawnmowers.

Meanwhile, the users’ interaction with the content is collected and fed to algorithms that build extensive user profiles of preferred content, consumer habits, and so on.

In other words, the digital giants farm their users for information and

While on an official visit to Cardiff, Wales, Prince Harry’s fiancée reportedly wrote something in the autograph book of a young girl, but Markle didn’t sign her name; giving autographs is strictly against protocol. The prohibition against royal autographs is in place because there’s a risk of royal signatures being copied or forged. So, you won’t see Prince Harry signing autographs for wellwishers either, although that hasn’t stopped him in the past.

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CRYPTOCURRENCY

The Good, The Bad

AND THE UGLY

More and more people are spending hundreds of hours learning the vast amount of knowledge that is required to understand how a fully decentralised and encrypted blockchain and other decentralised networks work

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he blockchain and other decentralized networks will, just like the internet did, have far reaching effects worldwide.

What the internet did for information blockchain will do for trust. For the first time in history humans can exchange without having to trust or pay a third party. And this is not limited to money as we have learned just about any transaction where trust is required blockchain can be used as an alternative.

In the end of the day the technology is all that matters, coins will come and go but the technology being strong is the reason that long term investment in the crypto space makes sense and should be the primary factor in research.

WHAT IS BLOCKCHAIN TECHNOLOGY? The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi

Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking is: What is blockchain?

By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet.

Originally devised for the digital currency, Bitcoin, the tech community is now finding other potential uses for the technology. Today, there are an estimated 700 Bitcoin-like cryptocurrencies (exchangeable value tokens) already available. As well, a range of other potential adaptations of the original blockchain concept are currently active, or in development.

Who should control your money? This is the simple question that bitcoin and many other projects are starting to ask the world.

Should you trust your government with your money? Maybe if you live in a first world country this does not seem like such a big deal, but in third world countries the trust levels are at an all-time low.

Should we trust the banks to control our money?

Banks, for the most part, do a decent job at controlling our money. But if you have been in the position where your account is randomly frozen for some unknown reason or that the government has forced the bank to use money from your personal account for taxes that might be a mistake on their side then you might think twice.

The Philosophical argument is that each and every person should be in complete control of their finances and assets without having to fear foul play by a corrupt third party. Furthermore we should be able to freely trade and interact with each other without a third party looking over our shoulder.

THE BAD With more and more crypto currencies embracing privacy it will become increasingly easy to partake in illegal activities with little to no trace left behind.

Crimes like human trafficking and the likes might increase and the technology will assist criminals in staying hidden and leaving no paper trail.

THE UGLY Because of the “The Bad” section above the governments reaction to the rise of cryptocurrency is very unpredictable and its medium term future is largely dependent on how they will handle the first big crisis that appears and it will most likely be some terrorist attack as that seems to be the thing governments fear and use as justification the most.

The industry has already survived the likes of Silk Road but that was just the start of this rocky road.

The word “bubble” is thrown around so often these days that it feels like that is all anybody has to say about crypto yet it still seems that people are throwing millions of dollars at nothing more than ideas. People are quick to bring up the dot com bubble but technology bubbles are actually pretty common. When new technology arrives people get

excited and throw their money at it. Then as we learn that it is harder to build than we originally thought people start to lose faith and eventually perhaps 30 years later we learn how to build the tech and suddenly the market emerges. The exact same thing is happening in Virtual Reality and Artificial intelligence.

What makes this iteration worse is YouTube. We have these “technical analysis specialist” telling us each day how much coin x will increase in value and in the 1 in 5 times they are right they are sure to remind you of it every chance they get, and you start to believe that they can predict the market. The problem is that the market is all going up all

With more and more crypto currencies embracing privacy it will become increasingly easy to partake in illegal activities with little to no trace left behind. Crimes like human trafficking and the likes might increase and the technology will assist criminals in staying hidden and leaving no paper trail

at once, a blind money with a dart can pick a winning coin right now. Because a vast majority of investors in this space have no prior investment experience they fall prey to these kind of videos without understanding what they are investing in and spend way too much money when they can’t afford it to try and make the quick buck. This is why we see these insane ICO’s worth hundreds of millions with no real current value. Just because bitcoin rose from nothing to over $2000 dollars does not mean most of these other coins will.

This falls under the ugly because many people will lose more money at some point than they can afford because they did little to no real research other than YouTube videos. ■ FEBRUARY

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FEATURE *COMMITTEE OF THE HOUSE OF LORDS

B y PAT R I C K W I N T O U R , T H E G U A R D I A N

Western Balkans Backsliding On Democracy Russian influence is expanding and support for EU membership is in decline as UK’s influence fades after Brexit vote

P

rogress towards full democracy and commitment to the rule of law in the western Balkans is either stagnating or going backwards as the UK’s influence in the region declines, a Lords committee has said.

Russian and extreme Islamic influence is expanding, state capture of civil institutions is growing and support for EU membership is in decline, the international relations committee says. Some nationalist leaders point to the UK’s planned departure from the EU as a sign that European values are no longer relevant, it adds in a report.

Since the UK voted to leave the EU, its longstanding advocacy of the Balkans countries’ EU membership is not just paradoxical but untenable in the eyes of many, the report says.

The Brexit decision also deprives the Balkans of their chief advocates in Brussels.

The peers say the UK must ensure that a western Balkans summit planned for London this year maps out a longterm security and political commitment to the region in conjunction with the EU. It urges the UK to act as an advocate for Balkan states such as Macedonia to be allowed to join Nato.

The Balkans summit is seen as one of the Foreign Office’s key chances to show Britain will remain engaged globally after Brexit. The Foreign Office minister Sir 26 |

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fully democratic”, the committee finds.

The Russian influence has coincided with growing “state capture of civil society” and especially the media. The Foreign Office has warned of “increased backsliding on freedom of expression in some countries in the region. This includes political interference in the work of public broadcasters, a lack of transparent public funding of media and intimidation of journalists”.

Moscow has been able to fill a vacuum created in part by unhelpful statements such as that made by the EU commission president, Jean-Claude Juncker, who said EU membership was off the agenda for the Balkans “until some distant date in the future”.

Surveys show that far more Serbian The peers say the UK must citizens would prefer to be allied with ensure that a western Balkans Russia (67.2% in favour and 18.8% summit planned for London this against) than join the European Union (50.9% vs 38.8%). year maps out a long-term The committee says the decline security and political in support for the EU is not in the commitment to the region in UK’s interest “as EU membership is conjunction with the EU the most reliable path for western Balkan countries to achieve security, Russian Sputnik correspondents across stability and prosperity. Post-Brexit the region who now service mainstream the UK must continue wholeheartedly media. “The main agency sources of to support the accession ambitions of news, particularly in Serbia but also in western Balkan countries.” ■ Republika Srpska and Montenegro, is Sputnik,” it says. *The House Committee is a select commitAlthough Russian influence can be tee of the House of Lords in the Parliament exaggerated and the BBC World Service is of the UK that sets policy and provides guidreturning to the region, Moscow’s effect ance for long-term planning for the House, has been to “slow progress towards good supervises its finances, and supervise the scheme for members' expenses. governance and the region emerging as Alan Duncan said he hoped the summit may lead a relaxation of the UK visa regime.

The committee, including some of the most senior foreign policy experts in the Lords, says the risk of diminishing UK traction comes at a time when some political leaders in the Balkans are making “regressive, dangerous and destabilising calls” for a redrawing of the national boundaries and secession. These politicians are pursuing the unfulfilled goals of the civil wars of the 1990s.

It says Russian soft power has expanded, partly by placing a large number of

FEBRUARY BUSINESS LEADERS’ MEETING POINT

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VUJADIN ŠĆEKIĆ, Director of Jugo-impex d.o.o.

BANE SPASOVIĆ, Mayor of Požarevac

To European Standards

People Are Our Strongest Trump Card

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MLADEN PETKOVIĆ, Director of Krušik AD Valjevo

AUSTRIAN-SERBIAN NETWORK ESTABLISHED

We Achieved A Historic Record

Austrian-Serbian Network Established

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CORPORATE

VUJADIN ŠĆEKIĆ, DIRECTOR OF JUGO-IMPEX D.O.O.

To European Standards One of the key EU requirements for opening Chapter 27, that deals with the environment and climate change, is to ensure a sustainable and predictable way of financing the industry through a ‘Green Fund’ which at the republic level will be filled in a transparent way from funds collected from eco-taxes and environmental protection fees, and that they are spent in the same transparent way for the purposes for which they are intended

semi-finished and finished products of non-ferrous metals was enormous for today’s conditions. With time, our metal processing industry went under and we turned to our own production and recycling of hazardous waste. There is a large problem of social awareness about recycling of EE waste. We are in a far-reaching transition, primarily one of awareness, and we need serious education and understanding of what waste recycling is. We are surrounded both by cheats and by people who are doing the most socially responsible work. Nobody in Serbia is guilty but ourselves and our edu-

am convinced that as a separate Ministry, our Ministry of Environmental Protection will in two years completely change the image of our industry.

■ In recycling, you have developed your ugo Impex procures and processes own network in Serbia, with more than raw materials, such as copper and 3,000 associates including some local its alloys. It also deals with the governments. Are there any plans for recycling of electrical and electhe wider region? tronic waste (EE waste). The key issue - The region is a special issue, we have that connects waste and processing is ambitious plans to become the Balkan’s the circular economy, i.e. the control of regional recycling centre. We have a lot of all processes from waste to product. opportunities and conditions for realising Recycling hazardous and non-hazardous it, primarily because we are surrounded by waste generates a pure raw material, small countries with a small number with its own value. At this level of of inhabitants, where technologies To treat the total amount of processing, the price is linked to the like ours cannot justify the investment hazardous waste collected, global market and, depending on the (Bosnia, Montenegro, Kosovo and demand, your profitability is lower or Metohija, Macedonia). To succeed we about 3 billion dinars must be higher. On the other hand, if this raw allocated from the 2018 budget have to work together with our ministry on regulating the legal framework, material is processed and you have work in partnership with other ministhe final product, the price is very cation. If people only understood that a tries in the region to carry it out. little exposed to changes on the global poorly recycled refrigerator has the same market, so profit is more stable.

■ On one occasion, you said you had impact on the atmosphere as a car with bought recycling technology in Germaits internal combustion engine running ■ Jugo-Impex was founded in 1990 and ny, but that your experts had further for a year, the recycling of EE waste would was recognized primarily for trade in adapted and innovated this technolbe recognized differently. But I have to non-ferrous metals. But today you are ogy. What are the concrete changes say that it is becoming better by the year, a leader in the recycling industry. How you made? and that now for the first time ever we much is the capacity of this industry - We bought the German MEWA line for have our Ministry, and a Minister who has recognized in Serbia, and in particular recycling fridges and other EE waste, spent his whole working life in the field of the recycling of electronic waste? and our team of engineers perfected it. ecology. This gives us all the right status - In the nineties, Serbian industry was Using the knowledge of experienced MIN but demands of us real responsibility. I quite strong and the consumption of

J

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engineers, we made new knives that last 7 times longer then those of the manufacturer, made electronic control of defects in the process and increased storage capacity for freons. All summed up, our machine is today 18% more productive.

■ Recycling is a rapidly growing and developing industry globally. On the other hand, you say that in Serbia it is still at a level that does not bring the necessary predictability and growth.

Why is this so?

- In contrast to the rest of Europe, the Serbian eco-tax is not yet recognized as a dedicated one, so it goes to the Ministry of Finance instead of the Green Fund at the Ministry of the Environment. The Ministry of Finance deals with the overall finances of the country, so it cannot recognise us in its overall portfolio. Gener-

the waste collected during this year will not be able to be treated, or taken care of in an appropriate way because there will not be enough money.

In negotiations at the end of 2017 in the Ministry of Environment, it was agreed that it is necessary to allocate more money for treatment of hazardous waste. Although the amount collected from eco-tax on the ‘polluter pays’ principle, 10 billion dinars, is 30% more than the previous year, the budget allocations have remained at the same level even after the founding of the Green Fund, which should not have been the case.

I can remind you that one of the key EU requirements for opening Chapter 27, that deals with the environment and climate change, is to ensure a

time in recycling, we have come to learn about which raw materials we have and what we can separate. These are the new urban mines that in few decades will be the basic source of metals that are disappearing in existing mines. With such knowledge we are, both as an industry and as a state, responsible towards future generations to recognise and to process better quality raw materials as much as possible, and not to export them to other plants outside Serbia. If our Ministry perseveres and does what has been planned, growth in this industry will be greater than in all other industries in the country.

ally, not many people understand that recycling of EE waste is economically unjustified: input - 100 din / kg ~ output - 40 din / kg. In 100 dinars of processed hazardous waste, the raw material obtained counts for 40 dinars, whereas the difference of 60 dinars represents transport, and the disposal or destruction of hazardous waste. In the current conditions we receive an eco-tax for recycling after the work is done throughout the whole year. We work with commercial banks to finance the entire production, and you can imagine how extremely difficult such a system is, and how it leaves no room for development. Since the budget for 2018 is adopted and that the amount of 2.19 billion dinars is assigned for processing hazardous waste, the same as in 2017, members of the Association of Recyclers of Serbia have expressed concern that all

sustainable and predictable way of financing the industry through a ‘Green Fund’ which at the republic level will be filled in a transparent way from funds collected from eco-taxes and environmental protection fees, and that they are spent in the same transparent way for the purposes for which they are intended.

The funds provided for right now are sufficient to treat only about 60% of hazardous waste that will be collected.

To treat the total amount of hazardous waste collected, about 3 billion dinars must be allocated from the 2018 budget.

Now that our ministry is established, we hope that things will start moving in the right direction, i.e. that the Green Fund will come to life and that recyclers will be paid quarterly and not annually.

When that happens, the recycling industry will certainly make serious investments in quality and processing. This will create a high demand for new jobs. During our

■ In technological and financial terms, our country is facing perhaps the most demanding negotiating chapter on ecology and environmental protection in negotiations with the European Union. If you can make a parallel with European standards, at what level is Serbia today compared to Europe?

- There are domestic recycling centres in Serbia that are at the top of European recycling by any standard. There is no European certificate that is not available and easily achievable if needed. In negotiations with the EU, our biggest problem is one of wastewater and gases. As the recycling industry, we are in a preventive position: the better we do and the more waste we recycle, the lower the danger of polluting soil and water with heavy metals. The recycling industry will certainly get a passing grade for its technology, and I believe that by then the system will be placed under the control of the Ministry of the Environment, and we will not have any problems there. ■ FEBRUARY

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LOCAL NEWS

PRIORITIES “Digitisation and education remain the Serbian government’s priorities and innovation and the creative industries are our development opportunity.”— ANA BRNABIĆ, Serbian Prime Minister

AVIATION

ECONOMY

VINCI Wins 25-Year Belgrade Nikola Tesla Concession VINCI Airports has struck a contract to run Belgrade’s Nikola Tesla Airport as the French operator aims to cement its foothold in Southeast Europe.

The 25-year concession, which expects to be signed in the first quarter of 2018, covers the financing, operation, maintenance, extension and upgrade of the existing airport terminal and its runways.

VINCI Airports is set to take over the airport, which handled 5.3m passengers in 2017, by the end of the year. Nicolas Notebaert, CEO of Vinci Concessions and Chairman of VINCI Airports said that Belgrade Nikola Tesla Airport will serve as the company’s ‘hub’ in Southeast Europe, a geographical area in which VINCI Airports has not operated until now. Although details of the financial terms and anticipated concession revenues for the contract where not disclosed by VINCI Airports, Serbian President Aleksandar Vučić stating that VINCI offered €501m up front, in addition to €732m in investment.

VINCI already manages and develops operations at 35 airports situated in France, Portugal (including Lisbon), Cambodia, Japan, Dominican Republic, Chile and Brazil. Its total airport network served 132m passengers in 2016, with annual revenue related to managed activities totalling €2.7bn ($3.2bn), with consolidated revenue of €1.05bn ($1.26bn).

World Bank Downgrades Serbia’s GDP Growth

In its January 2018 Global Economic Prospects report, the World Bank forecasts Serbia’s GDP growth in 2018 to be three percent.

The June 2017 report had put the figure at 3.5 percent. The World Bank now says that in 2019 and 2020, Serbia will have GDP growth rates of 3.5 and 4 percent. Serbia’s economy grew by two percent in 2017, according to the financial institution’s estimate in the January 2018 report.

TELENOR

10 THINGS

Tipped For €2 Billion European Asset Sale Telenor entered talks to sell its operations across three markets in southeast Europe to a US investment fund for €2 billion, Bulgarian business newspaper Capital reported.

According to research company Mergermarket the deal would likely comprise Telenor’s units in Bulgaria, Serbia and Montenegro, but could be expanded to include its operations in Hungary.

SIGVE BREKKE, CEO,Telenor The potential buyer is said to be US-headquartered investment company KKR, which had been linked with a bid for Telenor Serbia in June 2017. Rumours the company was set to sell its Serbia unit were quickly rebuffed by CEO Sigve Brekke, who denied any of its units in the region were for sale. Telenor is the second-largest operator by connections in Bulgaria, Serbia and Hungary: GSMA Q4 2017 estimates show the operator had between 3 million and 3.5 million connections in each market. It is the largest operator in the smaller market of Montenegro with 376,000 connections.

ENERGY

France Interested In More Energy Projects In Serbia Serbia and France want to deepen their cooperation in the realization of various projects in the energy sector and with a particular interest in Serbian Minister of Mining and Energy, projects related to renewable energy sources (RES) which are focused ALEKSANDAR ANTIĆ (left) and French primarily on savings and energy efficiency and improvement of Serbian Ambassador FREDERIC MONDOLONI distribution network. The statement of intent regarding cooperation between Serbia and France in the field of energy was inked by Serbian Minister of Mining and Energy, Aleksandar Antić and French Ambassador to Serbia, Frederic Mondoloni.

The cooperation between Serbia and France in this area is already intense, and this statement of intent is to provide additional incentives for energy companies to cooperate and prepare several projects ahead of the expected meeting of the President of Serbia and France in 2018, according to the Ministry statement. As much as 80% of France’s trade with Western Balkan countries is concentrated in Serbia, which makes it the most important French partner in the region, Mondoloni said. Now, France wants to further deepen collaboration with Serbia in the energy sector.

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NO ONE WILL TELL YOU ABOUT STARTING A BUSINESS

These days it seems everyone is calling themselves an “entrepreneur.” Starting a business is an incredible and awesome journey, but there are things no one told you to watch out for. Here are 10 things no one will tell you about starting a business.

1. You’re good enough to start, but not good enough to win.

2. You have to make yourself a priority.

3. You have to be your own first customer.

4. You have to be your own biggest fan.

5. It will take more work than you realize.

6. There will be things that you have to give up if you want to win.

7. Your first idea probably won’t be your best idea.

8. Your product isn’t for everybody, and not everyone is your customer.

9. You have to guard your calendar with aggressive intensity.

10. You will have to leave people behind.

POWER

INVESTMENT

“They (Albanians) are not stronger than us, nor are some others, but we shouldn’t be stronger, either – we should be richer, more successful, hurry and catch up with those who are ahead of us, have more foreign and domestic investments.” — ALEKSANDAR VUČIĆ, President of Serbia

Kinstellar And Karanović & Nikolić Advise Serbia’s Largest Wind Farm The Marić i Mujezinović Law Office in cooperation with Kinstellar provided local advice to Vetroelektrane Balkana in relation to the €300 million financing of the largest wind farm project in Serbia. The lenders were advised by Karanović & Nikolić and Norton Rose Fulbright.

The developer, Vetroelektrane Balkana, is owned by Tesla Wind – a joint venture between Masdar, a renewable-energy company based in Abu Dhabi – and Cibuk Wind Holding, a subsidiary of the U.S.-based wind-energy developer Continental Wind Partners.

The lenders include EBRD, and the International Finance Corporation, which are joined by B-lenders including Banca Intesa, Erste Bank, UniCredit, and The Green for Growth Fund.

The €215 million financing is divided equally between the EBRD and the IFC. The EBRD is providing a €107.7 million syndicated loan, €55 million of which is syndicated to B lenders. The IFC, a member of the World Bank Group, is providing €107.7 million through its Managed Co-Lending Portfolio Program and partially through syndicated B loans.

According to estimates, the plant will be connected to the grid in the first half of 2019. The construction of Cibuk 1 is expected to create 400 jobs in the area, and Kinstellar reports that it will “improve the local infrastructure by providing for 50 kilometers of roads.” The project should help Serbia meet its commitment to having 27% of its gross energy consumption coming from renewable energy sources by 2020.

Placements & postings appointments@aim.rs

▪ ANA MILIĆ, NEW CHAIRWOMAN OF THE EXECUTIVE BOARD OF UNICREDIT LEASING SERBIA

Ana Milić graduated from the University of Belgrade Faculty of Economics, Department of Finance and Banking. She started her career at UniCredit Bank in 2005, initially as a financial analyst within the Corporate and Investment Banking Sector.

After just a year, she advanced to the position of associate for business with small and medium-sized enterprises, then, two years later, switched to business with large and international companies. She was appointed Head of the Department for Business with Large Companies at the end of 2012, then in 2017 became the Acting Director of the Directorate of Operations with large companies and public enterprises.

Ana was appointed Chairwoman of the Executive Board of UniCredit Leasing Serbia d.o.o. (Ltd.) on 30th November 2017.

▪ DUNCAN NAYSMITH, NEW CEO OF AIR SERBIA

Duncan Naysmith, Air Serbia’s current chief financial and business transformation officer, has been appointed as the Interim CEO of the Serbian national airline, while it embarks on the search for a permanent replacement for previous CEO Dane Kondić, who stepped down for personal reasons after serving four and a half years at the helm of the company.

Naysmith brings more than 12 years of senior airline management experience. Consistent with the company’s leadership transition plan, Naysmith will assume full management responsibilities effective immediately, with a handover period in place until Mr Kondić leaves Air Serbia at the end of January 2018.

The Interim CEO will focus on a clear strategy aimed at meeting the challenges ahead and ensuring the airline’s sustainable and prosperous future.

TELEKOM SRBIJA

Winners Of The National Competition Announced The finals of this year’s mts app competition, at which the five best teams and five best mobile applications were announced, were held in the Belgrade Startit Center. According to the jury’s assessment, the winning applications were: ‘Solve & Share’ and ‘Eduno’ by teams from the Bora Stanković gymnasium in Niš, ‘ConTags’ by a team from the Bolyai gymnasium in Senta, ‘Stories’ by Luka Jovičić of the Belgrade Mathematical gymnasium and ‘Where’s the problem?’ by a team from the Šabac gymnasium. The student app designers, were awarded valuable mobile phones, and at the same time they qualified for the regional finals of the competition called ‘Regional App Challenge’, where they will have the opportunity to meet and compete with peers from Bosnia and Herzegovina and Montenegro.

“The mission of Telekom Srbija is definitely to invest in new generations, to support young people in acquiring knowledge to secure a better future for themselves, and with this project we have confirmed it once again”, said Marija Bošković, Director of the Public Relations Department of Telekom Srbija.

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CORPORATE BANE SPASOVIĆ, MAYOR OF POŽAREVAC

People Are Our Strongest Trump Card I expect Požarevac to improve agriculture substantially, to raise the level of foreign direct investment and support local business

A

fter several years Požarevac is working according to a precisely defined sustainable development strategy or, to put it simply, in accordance with its adopted five-year plan. As mayor Bane Spasović explains to CorD, the emphasis is especially on business, traffic, building infrastructure and environmental and social protection, but the strategy is also concerned with issues of cultural development, sport education…

“The strategy also provides for a quay on the Danube, which introduces one of our greatest advantages. We want to present our tourism potential in Serbia and the region and become an important destination in Serbia, which is also planned in the strategy. By investing in the race track and the Ljubičevo stud farm, we intend in the coming years to become a sports riding centre, not only in Serbia and the Balkans but in the whole of south-east Europe.

The bearing element of that project is our Ljubičevo horse games, which the state has supported in recent years thanks to president Aleksandar Vučić, who opened the last games”.

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■ What concrete advantages for investors does your town have over other municipalities?

- I think our main trumps cards are our people, or rather the special team formed in the local administration whose purpose is to serve anyone wanting to invest in our town. We also have greenfield and brownfield sites with complete infrastructure, and the advantage is a clear business incentives plan. Then there is the exceptionally important good geo-

Požarevac is one of three towns in Serbia with a local economic development plan that defines incentives for business graphical location, proximity to the motorway and industrious people.

All this has brought the first results.

Immofinanz from Austria will open the retail park Stop Shop here, employing 300 people, and the Turkish Ringelsan is making the final preparations for opening a factory in Požarevac which they say will employ over 1,000.

■ At one time Požarevac received the grand prix in cooperation through IPA projects, through the Danube

business forum. How much does the development of Požarevac depend on European and domestic funds and projects, and how much can the town finance its own development?

- “ European and domestic funds are exceptionally important for the development of Požarevac, above all because they bring resources for projects that either are quite costly for our budget or lie in fields that we are not responsible for as a local authority. For example, in 2017 we worked with the Agency for Public Investment to completely renovate the Jovan Cvijić primary school in Kostolac, to a total value of around 100 million dinars, then we as a city invested around 200 million more in improving the working conditions in schools and kindergartens. As a town, we are not responsible for secondary health care, but through IPA funds of about 4 million euros we will finance the completion of a new city hospital and become a centre for diagnostics and healing of malignant diseases. As for primary health care, we are investing considerable funds this year in the local health centre and in this way we are doing all we can for Požarevac to become a model environment for Serbia. ■

REGIONAL NEWS

DATE “It is time to finish the work of 1989. Serbia and Montenegro are likely be the next countries to join the European Union. We have set 2025 as an indicative date for Serbia and Montenegro, which is realistic but also very ambitious.”— JOHANNES HAHN, European Commissioner

FYR MACEDONIA

BY MARCUS TANNER, BIRN LONDON

Ohrid Named ‘World Capital Of Humanism’

Religion Remains Powerful in Balkans

The World Organisation for Social Integration has issued on its website an exclusive feature about Ohrid and Macedonia describing it as ‘the world’s capital of humanism in honor of St. Clement of Ohrid.’

Clement of Ohrid, a disciple of the saints Cyril and Methodius who are considered the ‘apostles of the Slavs’, had been credited with founding the first medieval school of humanism in Europe.

Frédéric Fappani von Lothringen, Head of the World Organization for Social Integration, in his capacity as representative of the Rothschild Foundation will visit Ohrid to attend a awards ceremony where Jean-Patrick Connerade – professor at Imperial College London and president of the European Academy of Sciences, Arts and Letters – will be presented with the 2018 World Prize for Humanism.

The formal event will take place in Ohrid on January 18 on the eve of Epiphany Day (Jan. 19).

People in the Balkans remain far more religious than those in Central and Western Europe, a survey suggests.

A new survey based on three WIN/Gallup International polls and published in the UK Telegraph shows people in the Balkans are far more religious than their counterparts in Western Europe.

The survey, which draws on three polls taken over a number of years, and turns them into a world map, suggests religion remains a more powerful factor in people’s minds, and in society, in all the former communist states of the Balkan region – with the partial exceptions of Bulgaria and Albania.

Kosovo, Macedonia and Romania emerge as the most self-consciously religious societies in the region, and in Europe; 88 per cent of people in Macedonia, 83 in Kosovo and 77 per cent in Romania consider themselves religious.

MONTENEGRO

Tender For Offshore Exploration Of Oil And Natural Gas Montenegro plans to call a tender for offshore exploration of oil and natural gas this year, Podgorica-based media reported.

The government aims to attract multiple companies to its offshore exploration areas, but this process should be carried out cyclically, energy minister Dragica Sekulic said in an interview for news agency Mina Business.

Italy’s Eni and Russia’s Novatek are currently completing a study to determine the environmental impact of 3D seismic studies in four oil and natural gas blocks offshore Montenegro under a contract awarded in 2016, Sekulic said.

“Once the process is completed and after the Environmental Protection Agency issues the necessary licence, 3D seismic DRAGICA SEKULIC, Energy Minister research will begin,” Sekulic said. “The collected data will then be processed and the results interpreted, and then, in the second half of 2019, first exploration drilling will begin,” Sekulic added.

The total investment in the 4219-26 and 4218-30 blocks over an exploration period of seven years will be €15.8 million, including the funding of a new 3D seismic survey, geophysical and geological studies, and the drilling of one well, Energean said back then.

HUNGARY

Indian Motorcycles Coming To Hungary Motorcycle enthusiasts will have the opportunity to buy the prestigious Indian bikes in Hungary as all 14 models of the American brand will be available this year, business daily Világgazdaság reported today.

Szilárd Falkai, operative director at Ivanics Motor Kft., told Világgazdaság that this year the company will make Indian bikes available in its stores in Budapest and Székesfehérvár. Ivanics Motor has acquired the distribution rights for Central and Eastern Europe for all 14 models of Indian. Prices are not available yet but will vary greatly depending on added extras. The basic model will start at €14,600 and can reach as much as €42,120, Falkai said. The prestige of the Indian brand is still growing in Hungary, therefore Ivanics Motor does not expect to sell hundreds a year, he added.

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Serbia, Croatia, Montenegro and Greece all come close, some way behind, with 70 to 72 per cent of their populations considering themselves religious. Bosnia comes next on 65 per cent.

Bulgaria is some way behind; only 52 per cent of the population there deem themselves religious.

Albania is the only country in the Balkan region with a “Western-style” attitude to religion – only 39 per cent of the population consider themselves religious, exactly the same percentage as Austria and Hungary, and a little more than Spain (37 per cent).

In Western Europe, Italy, the seat of the Catholic Church, is the only country where the overwhelming majority of the population consider themselves religious – 74 per cent.

Elsewhere, figures tend to be much lower – 30 per cent in the UK, 26 per cent in the Netherlands and 34 per cent in Germany.

The far north of Europe is particularly non-religious. A mere 16 per cent of Estonians have any religious feelings, rising to 19 per cent in Sweden and 21 per cent in Norway.

The picture is very mixed in Central Europe, ranging from 86 per cent in Poland to only 23 per cent in the Czech Republic.

Elsewhere in the world, African, Middle Eastern and Southeast Asia countries tend to be very religious; the figures there range from the mid to late-nineties.

Asia is also home to the two least religious societies in the world, however – China and Japan, where a paltry 7 per cent and 13 per cent confess to having religious feelings.

The survey was produced to mark World Religion Day on January 14.

RESPONSIBILITY

CROATIA

“We have a huge responsibility. It is clear that the identity is very important for us. We have to find a way to convince our Greek colleagues that there is a clear distinction between our country and a region which includes northern Greece.”— NIKOLA DIMITROV, FYR Macedonia Foreign Minister

Chinese Firm To Build Croatia's Peljesac Bridge Croatia’s state roads company, Croatian Roads, announced that the China Road and Bridge Corporation is to build the Peljesac Bridge, the biggest infrastructural project in the country.

The offer from the Chinese stateowned construction company was cheaper than that of Austria’s Strabag – €279 million in comparison to €351 million. An Italian-Turkish consortium also competed for the tender but was rejected due to an invalid bank guarantee.

The tender was opened in last September and companies had four months to pres-

ent their offers. The bridge connecting the Croatian coast with the southern Peljesac peninsula is important because it bypasses a short strip of the Bosnian coast that interrupts the continuity of Croatian and EU territory.

For this reason, the European Commission last June offered to supply up to 85 per cent of funds for construction of the bridge.

China has made few big investments in Croatia so far, but Chinese companies are becoming more and more present in the rest of the Balkans. Source: BIRN

BULGARIA

ROMANIA

Bulgaria To Push For ERM-2 Membership

Saab To Open Office In Bucharest

Bulgaria stepped up its campaign to adopt the euro, challenging member states to let it into the single currency’s “waiting room” in the coming months -- or spell out why it cannot join.

Speaking to Brussels-based reporters as EU commissioners visited Sofia at the start of Bulgaria’s six-month presidency of EU ministerial councils, the finance minister said he was ready to apply to join the ERM-2 exchange rate mechanism this year even if he had no assurance that the request would be accepted.

Prime Minister Boyko Borissov and finance chief Vladislav Goranov said the European Union’s poorest nation had long met all formal criteria for join.

Defence and security company Saab, a group established in Sweden in 1937, will open an office in Bucharest, profit.ro informs.

In Romania, Saab was one of the bidders attending the auction first term to upgrade King Ferdinand and Queen Maria frigates, a contract of €180 million but the company has not been selected last year for the second stage.

The procedure has not been completed so far, as the validity term of the tenders has already expired, although the SEAP procedure still appears to be ongoing.

Saab has also been in the past in the race for the acquisition of multilevel hunting jets for the Romanian Air Force.

BOSNIA AND HERZEGOVINA

Trebinje Creating “The Most Desirable Small Town In The Western Balkans” With adoption of the draft Strategy for the development of the town of Trebinje 2018 – 2027, in the fields of economy, social development and environmental protection until the end of the third decade of the 21st century, Trebinje is creating the “Image of the most desirable small town in the area of Western Balkans”.

The strategic goal refers to attracting investments and increasing employment rate in the field of economy, especially in the processing industry, current strategic branches including agriculture and tourism, as well as creative industry in the future.

The city of Trebinje, which is located on the borders, has great advantages for successful

development. It is relatively close to ports, railway stations, airports and famous tourist destinations, and it represents one of the most attractive locations in the Western Balkans for a healthy life and relaxation by its natural and geographical characteristics.

The construction of contents is planned in the economic zone Novo Trebinje, between the roads from Mostar and Dubrovnik. The construction of a golf course is planned in the southern part of the business zone, next to the road to Dubrovnik, with apartment complex and various catering facilities. In the northern part, next to the road to Mostar, is planned the construction of a casino Source: akta.ba on a total area of 70 ha.

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CORPORATE MLADEN PETKOVIĆ, DIRECTOR OF KRUŠIK AD VALJEVO

We Achieved A Historic Record “In 2017, Krušik achieved the best results in its 79-year history. Revenue was about USD100 million and profit about RSD 1 billion. More than 90 percent of Krušik’s profits come from exports, and our products are sold in over 70 countries worldwide

K

rušik’s largest customers are from North America, the Middle East and Africa”, confirmed Krušik Director Mladen Petković, who has run the company for over four years, in an interview with CORD. Krušik’s average annual revenue growth rate since I have led the company has been 80%, so in 2017 revenues were 8.7 times greater than in 2013 when the company had a loss of RSD 1 billion. In a few years, more precisely from 2014 until today, we have turned a billion dinar deficit into a billion dinar surplus, which best reflects our business and is a great satisfaction both for management and for all the staff. Since 2014 we have employed 1,700 new workers, 657 in 2017 alone.

demand for our products is satisfactory. We are constantly working on modernising existing products and creating new ones based on new technologies. Establishment of serial production of parts of the missile programme has significantly influenced Krušik’s position on the world market.

Engagement of our full capacity is guaranteed until 2020.

of the market’s demands but also of its tendencies. For this we have some really very professional, dedicated and responsible experts, who as a team research, analyse and anticipate market trends based on which, among other things, decisions on new programmes, innovations and changes are made.

■ What are the key factors when planning new products, especially ■ Krušik has both a military and a military ones, on what basis do you civilian manufacturing programme. decide to include a new item in your Comparing these two, which is more portfolio? important for you?

- On the one hand, the military industry - We are primarily a military producer functions on market principles just like civilian industry, that is, on the basis of supply and demand, while on the Krušik is world-famous for its other hand we have our own specimortar programme, but we are ficities. In 2014, Krušik started an investment cycle by investing in adalso working on a brand new aptation and reconstruction of our missile programme existing capacities and by building new manufacturing plants. Unlike companies of the same or similar oriand for us the military programme is entation in the world, our company had more important and more profitable. to be built again from scratch, as it had ■ Krušik is a global player, judging On the one hand the civilian programme has already become a tradition been significantly damaged during the from the 70 countries to which it and generates a certain profit, but on 1999 bombing. A facility for the producexports. Are you satisfied with the tion of missile engine chambers worth the other it represents a challenge in competitiveness of your products EUR 9.4 million was built, creating the confirming that the company is able and the speed at which your company conditions for serial production of the and ready to deal with such differfollows new trends, developments ent product lines. Everything we do missile programme. We invested EUR and the demands of its international is tuned to the demands of domestic 10 million to complete the first phase of clients? and global markets and we make decibuilding a production line for detona- A value of USD 240 million in signed sions after serious analysis not only tors for the Defence Industry of Serbia, contracts alone shows that global 36 |

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which have until now been purchased abroad. In 2018, we have started a new investment cycle worth USD 30 million, and we can say that Krušik will in the coming period be the largest construction site in this part of Serbia.

same time, the speed of technological change in the military industry follows the speed of change in all other

■ Krušik is the most desirable employer in your region. Apart from the salaries, which are very attractive for Serbia, what else has influenced this perception of the company?

- Salaries do not give the whole picture of a company. Our production is very specific in many ways and to follow global trends education must be part of our everyday work. Successful business in recent years has led to new jobs, more than 1,700. Given our industry and the nature of the manufacturing processes that take place in Krušik, we mostly need electrical and mechanical engineers, CNC machinery operators and other related profiles.

■ Has your cooperation with local secondary schools been successful, in terms of educating students for professions needed in the company and renewing the staff?

- We are constantly working on professionalization, education and training of our staff. At the

Being the most desirable employer is the result of several factors. In addition to salaries, the priorities are the permanent education of staff and building a team spirit in the company

areas. So it is very important to bring in young people, especially engineers and mechanics. We must raise the

heirs of the senior mechanics who have spent their entire working life in Krušik and have become in some way an inseparable part of the company. That is why Krušik signed a Business and Technical Cooperation Agreement with the Technical School in Valjevo, which in the last 20 years had not enrolled students for the profiles of the mill and lathe operators that we need. We have defined practical teaching, student scholarships and, as additional motivation for students, a job in HK Krušik a.d. Valjevo after finishing school.

■ You have publicly expressed satisfaction with the business environment in Serbia on several occasions.

For the company you lead, is there a recommendation that would help further growth and development?

- The business environment in Serbia is good. Ensuring continued revenue growth is a task for company management. I believe that the condition for a company’s survival today is daily monitoring of the market and constant adjustment of products and operations to market demands. This means adopting new technologies, modernising existing ones and developing new products. ■ FEBRUARY

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WORLD NEWS

DIFFICULTIES “No difficulty, however daunting, will stop mankind from advancing. When encountering difficulties, we should not complain about ourselves, blame others, lose confidence or run away from responsibilities. Instead, we should join hands and rise to the challenge. History is created by the brave.” — XI JINPING, President of the People’s Republic of China INDIA

AZERBAIJAN

India On Track To Become 5th Largest Economy In 2018

Onion Export Increased More Than ten-fold

Currently ranked 7th, India will move up to 5th place in 2018 and leap to 3rd spot by 2032, the Centre for Economics and Business Research, a London-based consultancy, said in its annual rankings. The Indian economy hit a three-year low in the first quarter of the current financial year, after Prime Minister Narendra Modi’s snap decision in November 2016 to scrap high-value banknotes and following a tax overhaul. Growth slumped to 5.7 per cent for the three months ending June but recovered slightly to 6.3 per cent for the quarter ending September.

Cheap energy and a digital revolution will drive economic growth globally, the report said.

The world’s growth will be dominated by Asian economies, including India, China and Japan.

The United States, the world’s largest economy, will be overtaken by China in 2030, the report forecast, adding India would take that spot “at some time in the second half of this century”.

Azerbaijan plans to gradually replace foreign imports with domestic production and increase a competitiveness of local production.

This year exports of onions from Azerbaijan increased more than ten-fold, while imports dropped dramatically.Russia is the main shareholder on onion exports - 61 per cent.

Prime Minister NARENDRA MODI

UK

Carillion Collapse Raises Job Fears Construction giant Carillion has gone into liquidation, threatening thousands of jobs. The move came after talks between the firm, its lenders and the government failed to reach a deal to save the UK’s second biggest construction company.

Carillion ran into trouble after losing money on big contracts and running up huge debts. Its failure means the government will have to provide funding to maintain the public services run by Carillion.

“All employees should keep coming to work, you will continue to get paid. Staff that are engaged on public sector contracts still have important work to do,” said government minister David Lidington.

Carillion is involved in major projects such as the HS2 high-speed rail line, as well as managing schools and prisons.

Carillion chairman Philip Green said it was a “very sad day” for the company’s workers, suppliers and customers.

The company has 43,000 staff worldwide - 20,000 in the UK.

The next places are taken by Turkmenistan and Iraq. Currently, a tonne of bulb onion on the local market is offered at a wholesale price of about $160. Its average export price is $310/tonne. Onion sowing has been widely spread in Azerbaijan. In 2013, 158,000 tonnes of onions were delivered, while production in 2016 reached 178,000 tonnes, with productivity at 15 tonnes per hectare.

SOUTH KOREA

Support For 5G Equipment Makers The Ministry of Science and ICT held a meeting with companies in the 5G industry, attended

by SK Telecom, KT, LG U+ and about 10 smaller firms providing 5G components, equipment and services. At the meeting, Minister of Science and

MEXICO

Mexico Records 6.77% Inflation In 2017 Mexico recorded 6.77 per cent annual inflation in 2017, the country said, more than double its 3 per cent target and a 17-year high.

The government’s National Institute of Statistics and Geography published the widely expected figure, also saying that consumer prices rose 0.59 per cent in December.

“The inflation rebound is the direct consequence of unleashed lagged prices and the expansionary effects of prolonged fiscal and monetary policies in the previous few years,” said Alfredo Coutino, Latin America director at Moody’s Analytics. He added in a report that inflation is “not out of control” in Mexico but nevertheless “imposes a serious challenge to monetary policymaking for the year.”

Mexico’s central bank raised its benchmark interest rate five times last year in an attempt to rein in inflation, most recently on Dec. 14 by a quarter point to bring the rate to 7.25 per cent.

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ICT Yoo Young-min stressed the importance of communication among those in the industry for newinnovativeservicesandmarketcreationbased on 5G. The South Korean government is also planning to provide more policy-based support for 5G component and equipment manufacturers in that 5G hardware such as terminals and network equipment and convergence service environments are required for perfect 5G services.

The government is expecting that various types of service industries will develop based on 5G and this growth of service industries will contribute to the hardware sector covering small base stations, wearable devices, self-driving cars and so on.

DOWNTIME

IRAN

“Since the industrial revolution, we’ve been living under this delusion that burnout is necessary to succeed, that human beings can minimize downtime the way we try to do with machines. When, in fact, scientists will tell us that the human operating system needs downtime. We need time to unplug, to recharge, sleep deeply.” — ARIANNA HUFFINGTON, Thrive Global founder and CEO NETHERLAND

EU’s Biggest Ever Credit Deal With Iran

C&A Reportedly Weighing Chinese Bid

IRAN AND ITALY HAVE SIGNED A MAJOR FRAMEWORK CREDIT AGREEMENT WORTH €5 BILLION

Clothing stores group C&A which is owned by the wealthy Dutch Brenninkmeijer family is reportedly considering a sale to a group of unnamed Chinese investors, according to German magazine Der Spiegel. Der Spiegel said a contract for the sale is ready to be signed.

C&A would not confirm the report, but flatly refused to deny it.

C&A has its headquarters in Amsterdam. Cofra, the Swiss-based holding company for C&A, said in a written statement that there is potential for ‘partnerships’ in a growing market like China. ‘Other forms of outside investment could be a part of this,’ Cofra said.

Philippe Brenninkmeijer, the European chief of the company until mid-2017, was last heard of in public in 2016 when he admitted C&A was facing declining sales and profitability was judged to be too low. He was replaced

by Alain Caparros, formerly of German supermarket chain REWE, a non-family member in a break with tradition.

Italy and Iran signed a framework credit agreement to fund investments worth up to €5 billion in Iran. The deal was signed in Rome between Bank of Industry and Mine and Middle East Bank of Iran, and the investment arm of Italian stateowned holding Invitalia, the ministry said, Reuters reported.

Tehran said is the biggest ever such agreement signed with a European country. The money will be used for projects carried out jointly by Italian and Iranian companies in sectors including infrastructure, construction, oil and gas, electrical energy, and the chemical, petrochemical, and metallurgical industries. Iran’s government will provide a sovereign guarantee.

Meanwhile, Iran described the agreement as a yet another sign of Europe’s determination to expand economic bonds with the Islamic Republic.

The credit agreement with Italy followed similar moves with several European banks over the past few months, including Russia’s Eximbank Austria’s Oberbank and Danske Bank. On a related front, France’s state investment bank Bpifrance (BPI) announced also in September that it planned to provide funds to French companies that invest in the Iranian economy from 2018.

BPI France CEO Nicolas Dufourcq was quoted by media as telling reporters that his bank would grant up to €500 million in annual credits to companies that venture into the Iranian market.

UGANDA

Oil Pipeline Segment To Cost $700m

Uganda’s section of the proposed East African Crude Oil Pipeline from Hoima to the Tanzanian border will cost an estimated $700 million, according to an ongoing analysis of the project.

The 1,445km pipeline will run from Hoima in midwestern Uganda to Tanga port at the Indian Ocean in Tanzania. The entire project is expected to cost $3.5 billion of which 80% will be spent in Tanzania.

According to working documents for the project, the first EACOP pumping station will be installed at Kabaale industrial area in Hoima, contributing to the

technical and economic development of that zone as well as allowing third-party access for new regional oil discoveries.

Uganda and Tanzania, backed by French oil major Total E&P, are tentatively looking at the first quarter of 2018 for closing Final Investment Decision (FID) and subsequently Engineering, Procurement and Construction (EPC) in mid-2018.

The general manager of the National Pipeline Company, Bosco Habumugisha said that work on the final equity structure is ongoing. The contractors on the project are Japan’s Sumitomo Mitsui Banking Corporation Europe Ltd (SMBCE), with Standard Bank, and the Industrial and Commercial Bank of China Limited (ICBC) acting as the transactional advisors for the multibillion-dollar project.

ICELAND

1,000 Individuals Hold 98 Percent Of Capital Only 1,000 people hold almost all the individually owned equity in Icelandic companies, according to Morgunblaðið. This group owns over 98 per cent of all equity capital held by individuals in Iceland.

The numbers come from a Creditinfo report carried out for Morgunblaðið. The data also shows that the nation’s 10 wealthiest individuals hold nearly one third of total equity in Icelandic companies which are in the hands of individuals.

Individually owned equity in Icelandic companies totals around ISK 1.200 billion (€9.6 billion).

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EDUCATION AUSTRIAN-SERBIAN NETWORK ESTABLISHED

Austrian-Serbian Network Established The Austrian-Serbian network of students and graduates was officially established on 21st December 2017 in the premises of the Embassy of Austria in Belgrade, with more than 100 members of the Network present. We were especially delighted to see the members coming to Belgrade from all parts of Serbia to mark the network‘s establishment - two ladies came all the way from Novi Pazar have thus contributed to a large brain drain. It is therefore important for us to mong about 100 participants support their return to Serbia as much as were people from various possible, also by maintaining fruitful relations with Austria in the professional and industries who spent part educational sphere. The brain drain needs of their lives being educated replacing by a circular brain train. in Austria. Among them were doctors, Nearly 200 members of the Network economists, lawyers, representatives registered in a very short time, which of social sciences, artists and students shows a great interest and the need who had attended one or more faculties ■ What are the goals of the Network? for action. in Austria during their stay abroad. The - Relations between Austria and Serbia It is important for us to encourage event was opened by the Minister Pleniare closely intertwined and have many potentiary and Chargé d’Affaires Sabine exchange among students and graduates touch points. One of the essential aspects of these relations is education. For Kroissenbrunner, who in her address and to initiate joint projects and events. noted that the goal of this Network Many members of our Network are is not to encourage emigration but, artists, so we hope to receive their Relations between Austria and contribution to the Network as well. on the contrary, to contribute to the Serbia are closely intertwined return of “the best minds” to Serbia.

PLANS FOR THE FUTURE Because they can make an imporand have many touch points. tant contribution to the country’s We want to organise all kinds of One of the essential aspects of development and bilateral relations events and training in a wide range of these relations is education between Austria and Serbia. fields. In January, for example, we had As an honorary guest the event was two events in cooperation with two students from Serbia Austria is one of attended by Prof. Helmut Konrad, former universities in Austria that are very active the favourite countries to study in. And Rector, Dean of the University of Karl in the Western Balkans, who presented not just recently, but the tendency to Franz in Graz and a pioneer in launchtheir projects. In the future, we are planing alumni networks in Austria. Konrad ning joint events with partners from the study in Austria is based on a long-standing, even centuries-old tradition.

Some shared his experience of such networks Network, the Austrian Cultural Forum, of the most important Serbian intellectuand emphasised the unique nature of the the Austrian Foreign Trade Centre, the als studied in Austria, among them Vuk network initiated by the Embassy, since Austrian Institute - in particular, lectures Karadžić, Nikola Tesla and Ivo Andrić. In this is not a matter of preserving contact in the field of business, a language café recent years, many students have not between the university and students, but and cultural events. It is also important returned to Serbia after completing their is about a diversity of contacts and bonds that the members initiate and develop studies abroad, and unfortunately they between the two countries (and many their own projects and events. ■ institutions). Connecting people who have spent part of their lives in Austria to receive an education should be seen as a great potential. In such a network, new ideas can emerge and develop. According to this historian, a network of students and graduates contributes to a better understanding of history and culture.

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FEATURE

Digital Poultry To guarantee customers that their chickens are actually free-range, Gogochicken is tracking them with an ankle bracelet and putting the information online

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n China, now consumers who want to feel good about their chickens have new option: free-range and organic birds raised with an ankle that tracks and reports every aspect of their lives.

“All info related to the chicken can be verified in the blockchain,” says Xuefeng Li, CTO of ZhongAn Technology, the tech incubator of the Chinese insurance company ZhongAn, which developed the technology. The chicken’s age and location, how far it walks each day, air pollution, the quality of the water it drinks, when it’s quarantined, when it’s slaughtered, and other details, are all recorded in the blockchain, the same secure digital ledger used in cryptocurrency transactions.

The meticulous detail of the product, called Gogochicken, is designed to appeal to Chinese consumers who have dealt with a long series of food safety scandals.

Technology, the company says, could help rebuild trust by documenting the origins of a particular food. “It’s difficult for ordinary consumers to distinguish a captive chicken and a free-range chicken,” Li says. Free-range chickens, which grow more slowly (four to six months, versus 45 days for a regular chicken) and require more space on a farm, are more expensive to raise; suppliers often mislabel regular chicken as free range to get a premium. China’s growing middle class is willing to spend more for free-range or organic chicken, but want to know that 42 |

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they’re buying the real thing.

As an insurance company, ZhongAn recognised that its authentication and traceability system could also help reduce risk for companies that finance and insure farms by providing better data.

“The rural market is huge, and the rural financial market is huge as well . . . the agriculture industry has a lack of data accumulation, so it is costly and risky to carry out financial activities,” Li says.

The company started with chicken because of the scale of the market–seven billion chickens are sold each year in

China’s growing middle class is willing to spend more for free-range or organic chicken, but want to know that they’re buying the real thing China–and because the current tracking equipment works well with chicken, unlike with ducks, for example, which fly and go in the water. But it says that the technology can be expanded to cattle, sheep, pigs and other livestock, and similar traceability can be applied to crops like tomatoes or watermelons.

Others are also using the blockchain to track food in China. JD.com, an e-commerce platform, traces the production and delivery of beef raised in Inner Mongolia and sold to customers in Beijing, Shanghai, and Guangzhou. With a scan of a QR code, someone can see the age

and size of the cow, what it ate, when it was slaughtered and when the meat was packaged, and the results of food safety tests. Alibaba, another Chinese e-commerce company, plans to use blockchain on beef from Australia. Walmart and IBM piloted the use of blockchain on pork in China, and launched a Blockchain Food Safety Alliance in December 2017. China is also working with the EU on a largescale food safety project that will use blockchain. American food producers are also beginning to use the blockchain. The Grass Roots Farmers Cooperative, a small group of farmers in Arkansas that sells a meat subscription box, began using the technology in August 2017 to trace how animals were raised.

By September 2017, ZhongAn had agreements with 200 farms; by 2020, it hopes to work with 2,500 farms. By letting farmers become part of the Gogochicken brand, the company says that its model is attracting low-income farmers who can’t afford marketing themselves. “They need not [worry about sales] and get higher returns, which leads to rural farms’ wider adoption of the new model,” says Li. “Such a cooperation mode can be used for poverty alleviation in rural areas . . . We do not need to go to farmers–often farmers find us.”

ZhongAn also plans to go beyond blockchain, offering facial recognition software that will allow consumers to preorder a chicken and then watch it grow, remotely, throughout its life. ■

PROFILE

Public-Private Dialogue Key For the past fifteen years, I have had the privilege of being engaged in growing civil society in the region and understanding how active and caring citizens gathered together in associations drive the development of their communities and countries

VIOLETA JOVANOVIĆ Executive Director of the National Alliance for Local Economic Development (NALED)

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s the Executive Director of the National Alliance for Local Economic Development (NALED) and voluntary President of the Ethno Network, I have come to understand that civic initiative and public-private dialogue are key principles of sustainable development. These fundamental principles guide our efforts for the betterment of the business environment and the preservation of Serbia’s cultural heritage.

As a project manager in a country-wide USAID funded programme back in early 2000, I met non-governmental organisations (NGOs) first hand and experienced how powerful they can be if led by a common mission and competent and caring individuals. It was eye-opening to monitor transition from community-based organisations, like firefighters and hunting associations, to a new generation of NGOs related to economic development, agriculture or the environment. Donors assisted in the process by raising awareness and mobilising people to take part in public debates, strategic planning and having a broader view when setting community priorities able to improve the quality of

life for all. Communities responded by developing farming cooperatives, youth associations and leveraging donor and public funding for development projects, empowering citizens who realised they should, and can, take charge.

The response at the local level was initially slow, as open budget sessions were either poorly attended by reluctant speakers or dominated by heated discussion. With time and the help of skilled facilitators who “massaged” the process, both citizens and local officials gained experience in running consultations and

The principle of inclusive dialogue among the representatives of public, private and civil sectors stands as the primary value that NALED has been nurturing since its establishment in 2006 – internally among staff in the office, among our governing bodies and, most importantly, among our members started building an atmosphere of mutual trust and understanding, by listening and understanding the other side.

In the remote communities of Eastern Serbia, inclusive dialogue and advocacy allowed local actors to set their own priorities and identify solutions for wel-

fare issues that mattered most to rural women, refugees and the impoverished population. In forward thinking communities like Inđija, local businesses were also invited to provide input and have their voice heard in removing obstacles to economic development. This participatory dialogue once again proved that citizens around the country will seize the opportunity to influence the decision-making process in order to improve quality of life, provided accountable decision makers and inspired community leaders are there to drive the change.

The principle of inclusive dialogue among representatives of public, private and civil sectors stands as the primary value that NALED has been nurturing since its establishment in 2006 – internally among staff in the office, among our governing bodies and, most importantly, among our members. The fruit of this practise far outweighs the effort exerted, as witnessed in the reform of construction permitting that drastically improved the issuance of permits in close coordination with all relevant stakeholders, promoting transparency and good governance at all levels.

Dedicated and tireless in fostering public-private dialogue, we will continue to contribute by balancing the views of public, private and civil sectors, engaging mayors, businesses and experts in standing consultations, as a fundamental requirement for the country’s continued economic growth.  FEBRUARY

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CES 2018

The Best Of CES

Consumer Electronics Show (CES) is the world's gathering place for all those who thrive on the business of consumer technologies. It has served as the proving ground for innovators and breakthrough technologies for 50 years — the global stage where next-generation innovations are introduced to the marketplace

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eople often ask us why the Consumer Electronics Show takes place in Las Vegas every single year, and the answer is simple: it’s so massive that is won’t fit anywhere else in America. CES is the biggest trade show of the year, and CES 2018 is shaping up to be the biggest show on record with nearly 200,000 attendees in addition to 4,000 companies with a presence at the show.

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The usual suspects — phones, self-driving cars, PCs, paperthin TVs, and robots — all showed up in full force. But there were also plenty of fresh concepts that, if nothing else, are a sign of the industry dreaming big. Technology is the engine that makes fantasy a reality, after all.

Without further ado, here are some of the top picks of CES 2018.

FISKER EMOTION Fisker’s new luxury EMotion electric sedan is coming in 2020 and it looks drop-dead stunning inside and out. With a carbon fiber chassis, Level 4 autonomous driving technology, a fast-charging battery that’s expected to get a 400-mile range, and a top speed of 160 miles per hour, the EMotion might be the Tesla killer everyone’s been waiting for. Bonus points: Those hot, futuristic butterfly doors that open upwards at an angle.

SAMSUNG’S “THE WALL” At a whopping 146-inches, Samsung’s massive “The Wall” 4K TV is one of the largest (if not the biggest) TVs unveiled at CES 2018. Billed as the world’s first “modular TV,” Samsung says the display can be built to any custom size you want (in theory, at least). And though it’s not the thinnest or highest resolution TV ever made, The Wall’s use of Micro LEDs gives it a few picture-quality advantages over OLED TVs: greater brightness, better contrast, more vibrant colors, and reduced burn-in.

LG 65-INCH ROLLABLE OLED TV Who says TVs need to be flat? That’s the entire idea behind LG’s eye-popping 65-inch rollable 4K OLED display. Designed for portability and easy storage, the rollable TV is like something straight out of a sci-fi movie. This prototype display also isn’t limited to the traditional 16:9 widescreen aspect ratio. With the press of a button, the TV can roll down into its base and basically crop itself to 21:9 aspect ratio to better display ultra-wide films without letterboxing (the black bars on the top and bottom on a video).

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RAZER PROJECT LINDA Gaming company Razer is back with another wild concept device. This time, it’s Project Linda, a laptop dock for its Razer Phone. Slot the phone into the space where there would normally be a trackpad, and you’ve now got a 13.3-inch laptop with a full-sized Chroma-lit keyboard and extra computer ports. Companies have been trying to transform your phone into a laptop for years only to fail miserably. But if there’s any company that can make weird ideas work, it’s Razer.

SONY AIBO Sony’s Aibo is probably the cutest gadget of the year.

The robot dog made its grand return at CES 2018, and it’s just too adorable. With OLED eyes for better expressions, voice controls, motion-detection, and smarter intelligence downloaded directly from the cloud, the new Aibo improves on the original in every way. The only question is: Would you pay $2,000 for a robo pup or is that still super weird?

LAUNDRY FOLDING ROBOT Nobody has time to sit around folding clothes all day long. Enter FoldiMate’s clothes-folding robot. Put your clothes into the machine and it’ll fold them up and dispense them into a neat pile. The robot’s still a prototype, but if all goes this nearly $1,000 convenience could become a reality in 2019.

HUAWEI MATE 10, MATE 10 PRO The Huawei Mate 10 and Mate 10 Pro are both fueled by the Kirin 970 64-bit octa-core processor, which is Huawei’s all-new flagship CPU. Both the Mate 10 and Mate 10 Pro come with a 4,000mAh non-removable battery, while both phones sport ‘FullView’ displays. The Huawei Mate 10 comes with a 5.9-inch QHD (2560 x 1440) FullView RGBW HDR display, while the Mate 10 Pro features a 6-inch fullHD+ (2160 x 1080) OLED HDR panel. The Huawei Mate 10 includes 4GB of RAM and 64GB of native storage, while the Mate 10 Pro comes with 6GB of RAM and 128GB of internal storage.

Android 8.0 Oreo comes pre-installed on both the Mate 10 and Mate 10 Pro.

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NANOLEAF REMOTE Nanoleaf’s funky, modular, triangle-shaped smart lights that you can slap onto a wall or ceiling now have a quirky 12-sided remote. The die-shaped Nanoleaf Remote is compatible with Apple’s HomeKit and lets you switch between different automated smart home scenes whenever you flip it on any of its sides. At a show dominated by voice-controlled smart home devices, it’s kind of refreshing to see a simple motion-based smart home remote.

HTC VIVE PRO AR is the talk of the town these days, but VR’s nowhere near dead. HTC’s Vive Pro builds on the original Vive VR headset with a 78 percent increase in screen resolution, improved 3D audio and noise-canceling microphones, and a tweaked design for comfier wear. A wireless transmitter sold separately can be attached for a cord-free virtual experience. The changes may seem small, but taken altogether, they’re just the upgrades VR needs to make it a little more realistic.

LG INSTAVIEW THINQ REFRIGERATOR Although this product does have a 29-inch display — the new LG InstaView ThinQ fridge might just be the coolest refrigerator on the planet. It’s packed from top to bottom with awesome new tech, but the star of the show is the touchscreen display that runs webOS and supports all sorts of smart features. Knock on the screen twice, however, and it instantly becomes transparent to show you what’s in the fridge behind the door without having to open it.

BUDDY Buddy is the family robot, on three wheels and with a cute little digital face. The product has been developed by Blue Frog Robotics and has been immensely successful on Indiegogo. Buddy can be used to set reminders, set alarms, read messages aloud, recommend recipes, help kids with their homework, play music, answer calls, and fully integrate with your digital home management systems.

Overall, Buddy appears to be a successful integration of a number technologies; facial recognition, smart assistant, and robotics just to name a few, this might explain why it received the Best of Innovation Award for Robotics and Drones this year. ■ Source: Mashable

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FACES & PLACES

SEE MORE WWW.CORDMAGAZINE.COM 27/12/2017

Prime Minister Brnabić Holds End Of Year Reception Prime Minister Ana Brnabić and members of her cabinet organised a reception for the media, at which she said that the government is always open to dialogue on all subjects.

Speaking at the traditional reception over the New Year and Christmas holidays, Brnabić thanked the media for their cooperation and dialogue in 2017.

“I know we have open issues with some media representatives, that we have a degree of understanding, but we are open to dialogue,” said Brnabić.

She pointed out that the Government of Serbia is not an enemy of the media, but is always open to discussion on all topics.

11/01/2018

11/01/2018

Moroccan Proclamation Of Independence Day Morocco commemorates its Proclamation of Independence Day every 11th January, marking the date in 1944, during the reign of the late Sovereign, His Majesty King Mohammed V, when a document demanding full independence for the Kingdom was submitted to France, the USA and Great Britain.

The Casablanca Conference, held at the Anfa Hotel in January 1943, marked an important milestone in Morocco’s march towards independence.

To mark this occasion, Moroccan Ambassador to Serbia H.E. Mohammed Amine Belhaj organised a reception for members of the Moroccan community resident in Serbia and Montenegro. They seized this opportunity to express their warmest congratulations and sincere wishes of health, happiness and long life to His Majesty the King, as well as further progress and prosperity to the Moroccan people.

H.E. MOHAMMED AMINE BELHAJ

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Traditional Serbian Armed Forces Reception The Guard House, Dom Garde, provided the venue for the traditional New Year and Christmas Holiday reception, which was this year organised jointly by Defence Minister Aleksandar Vulin and Serbian Army Chief-of-Staff General Ljubiša Diković.

Addressing guests at the reception, Defence Minister Vulin noted, “a strong and courageous army that is wellequipped and trained, just like the Army of Serbia, is a guarantor of peace, freedom and independence”.

The reception was attended by top officials of the Serbian Armed Forces and the Ministry of Defence, representatives of the executive branch of the Serbian Government, members of the diplomatic corps and the National Assembly, Serbian Orthodox Patriarch Irinej and representatives of other religious communities, as well as figures from cultural and public life.

12/01/2018

Minister Dačić Hosts New Year Reception Serbian Foreign Minister Ivica Dačić organised his traditional New Year reception at the Ministry of Foreign Affairs for diplomats, media editors and other officials.

Speaking on this occasion, Dačić expressed his satisfaction with the foreign policy results achieved during 2017 and expressed the hope that the number of open chapters would increase significantly during Bulgaria’s presidency of the EU, thereby providing recognition for Serbia and appreciation for the progress it has made on its journey to EU membership.

The diplomacy chief said that Serbia has promoted its national interests with a wise and balanced policy, primarily related to protecting its territorial integrity and sovereignty, and is continuing activities aimed at realising the key foreign policy priority of full integration into the EU.

Prime Minister SHINZŌ ABE and ALEKSANDAR VUČIĆ 15/01/2018

Japanese PM Visits Belgrade Japanese Prime Minister Shinzō Abe visited Belgrade on 15th and 16th January, as a part of his tour of six Eastern European countries. Serbia is the only non-EU country visited by PM Abe as a part of his tour, marking the first visit of a Japanese PM to Belgrade in 31 years.

The official welcome reception was held at the Palace of Serbia, where President Aleksandar Vučić, Prime Minister Ana Brnabić and cabinet Ministers welcomed the Japanese premier and his delegation.

President Vučić said that relations between the Serbian and Japanese peoples are marked by mutual understanding and respect. He used the opportunity to thank the people of Japan for their continued help and support to the people of Serbia.

Prime Minister Abe noted that Serbia is crucial to the stability of the Western Balkans and added that Japan will assist in furthering Serbia’s European integration process.

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Start Of Bulgarian EU Presidency Commemorated The Embassy of Bulgaria to Serbia, headed by Ambassador H.E. Radko Vlaykov, commemorated the start of Bulgaria’s six-month presidency of the Council of the European Union.

Ambassador Vlaykov said that presiding over the EU is a great challenge and responsibility for Bulgaria, for which the country has spent years preparing, and that the Bulgarian presidency will move towards ensuring Europe and European citizens are provided with security, solidarity and stability, which is their long-term goal.

Head of the EU Delegation to Serbia, H.E. Ambassador Sem Fabrizi, stressed in his address that the EU remains with Serbia and will support its economic, political and social reforms, which it is hoped will progress more quickly in the future.

Jadranka Joksimović, Serbia’s minister of European integration, said that expectations are high when it comes to the continuation of the EU enlargement process – a claim supported by the fact that the topic of EU enlargement has been placed on the agenda of the Bulgarian presidency, but also those of the Austrian and Romanian presidencies that will follow.

H.E. SEM FABRICI (left), JADRANKA JOKSIMOVIĆ and H.E. RADKO VLAYKOV

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FACES & PLACES

SEE MORE WWW.CORDMAGAZINE.COM

18/01/2018

Myanmar Commemorates Independence Day H.E. U Myo Aye, the Ambassador of the Republic of Union of Myanmar to Serbia, hosted a reception at Belgrade’s Metropol Palace Hotel to mark the 70th anniversary of Myanmar Independence Day. The date celebrates Myanmar’s Declaration of Independence from the United Kingdom on 4th January 1948.

The ambassador used the opportunity to express his satisfaction with the enduring friendly relations between the former Yugoslavia, now Serbia, and Myanmar.

The reception was attended by representative of the Serbian Government, members of the diplomatic corps and friends of the Embassy of Myanmar, as well as representatives of Serbia’s public scene and cultural life.

H.E. U MYO AYE

22/01/2018

Farewell Reception For Ambassador Jovanovska The Embassy of Macedonia to Serbia organised a farewell reception at Belgrade’s Klub Književnika restuarant for outgoing Ambassador H.E. Vera Jovanovska, who is departing Belgrade after completing a four-year term in Serbia.

Speaking in her farewell address, Ambassador Jovanovska said that she considers Serbia a friendly country and its capital of Belgrade a city that connects people.

The formal event was attended by senior government officials and members of the diplomatic corps.

H.E. VERA JOVANOVSKA 25/01/2018

55th Anniversary Of The Élysée Treaty

LJUBICA GOJGIĆ AND SLAVICA MARKOVIĆ-SANDIĆ

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The 55th anniversary of the 1963 signing of the Élysée Treaty by the then West Germany and France was commemorated this 22nd January.

Current ambassadors of Germany and France to Serbia, H.E. Axel Dittmann and H.E. Frédéric Mondoloni, jointly welcomed numerous officials from Serbia’s political and public life to the reception marking the anniversary of this treaty of friendship, held at the French Ambassadorial Residency.

Addressing guests at the reception, the two ambassadors emphasised their countries’ support to the European integration of Serbia and regional reconciliation, as well as the importance of the Regional Youth Cooperation Office (RYCO), establish MINISTER ZORAN DJORDJEVIĆ (left) , H.E. AXEL on the basis of the example of the DITTMANN, Minister JADRANKA JOKSIMOVIC and H.E. FRÉDÉRIC MONDOLONI German-French Youth Office.

COMMUNICATIONS The Road To 2018

INTERVIEW

Major Trend For 2018: Big Changes For Both Clients And Agencies STEPHAN LOERKE CEO, World Federation Of Advertising

It’s fair to say 2017 has been an eventful year.

Even for an industry used to as much change and disruption as ours. Last year will likely long echo with the words “murky at best, fraudulent at worst,” “an antiquated media buying and selling system” and “crappy” to describe the experience that drives people to ad blocking and prevents marketers from achieving their growth goals 2 |

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ith three quarters of World Federation Of Advertising (WFA) members saying they plan to review their agency rosters in 2018 and with 87% saying they are rethinking their programmatic models, this year looks set to be another active one

relationships work fall on the shoulders of agencies and clients alike. Clients will need to consistently demonstrate real leadership if they are to effectively partner with their agencies and enable collaborative relationships between agencies to deliver business results. RD

We expect to see more, rather than fewer, roster modelsperhaps as many different models as there are company-specific requirements. The emphasis on making these new relationships work fall on the shoulders of agencies and clients alike for client-agency relations. In the past this has tended to mean more RFPs, but that doesn’t have to be the case. We expect to see more, rather than fewer, roster models- perhaps as many different models as there are company-specific requirements. The emphasis on making these new

When we asked WFA members what the top five key characteristics they would want to see in an agency roster of the future, the number one response was “agencies working as true business partners”. Easy to say but what does this mean in practise? The answer probably

means a commitment to new remuneration models focused on common business metrics. This could mean big changes for both clients and agencies, potentially costing the client more and requiring a great deal more trust of their agencies.

Clients have long referred to agencies as our ‘partners’. Time will tell if partnership goals are reflected by client investment.

The programmatic market has been developing at breakneck speed. In 2017 we’ve seen considerable change to how clients go to market, with much more focus on ‘disclosed’ operating models.

In 2018 the challenges are regulatory.

New WFA research tells us that a priority for 8 in 10 client-side media directors in 2018 will be ensuring programmatic approaches are fit-for-purpose post GDPR and e-Privacy. The programmatic industry has been highly reliant on third party data, which require limited consent to collect.

This is all set to change this year, and radically so within the ad tech sector. Work is underway to establish new processes and ways of working, but expect a huge shake up as the clock counts down to

May 25 when GDPR comes into force.

Much has been said about marketing ‘transformation’ but recently we’ve witnessed a real appetite for change among client-side media teams. WFA research has identified that the most

support. Deutsche Telekom’s “innovative and progressive” review, which has seen agency scope significantly fragmented and more roles and responsibilities being taken-in-house, is a good example of this and we expect to see more in 2018. MG The year 2017 has been marred by major fraud and brand safety concerns. The cleanup job is under way with initiatives such as ads.txt and the Trustworthy Accountability Group (TAG). There is also growing interest in what blockchain can do to bring greater transparency to various components of the digital media supply-chain and we’re starting to see new companies establish themselves as early specialists in the field.

This may not be ready for rollout just yet, but according to our research clients are looking at this closely. We predict that the narrative around this will develop rapidly in 2018, with serious implications for the supply chain. MG Marketing procurement’s relationship with their marketing stakeholders hasn’t always been straightforward. Some marketers boast of having enlightened sourcing colleagues. Others are less sym-

There is also growing interest in what blockchain can do to bring greater transparency to various components of the digital media supply-chain and we’re starting to see new companies establish themselves as early specialists in the field common approach to staffing media is via ‘generalist’ resource; generalists will likely always have a place not least in the most visible role of Chief Media Officer.

But 87% agree that as the complexity of media increases, more specialists will be required. In 2018 we predict the steady growth of data and technology specialists being recruited to support Chief Media Officers. We also anticipate that clients will continue to interrogate their global media operating model to establish the optimum balance of internal capability and external

pathetic. As more procurement functions achieve a certain level of maturity, 2018 will likely see many of these organisations move to the next level; developing into organisations which are more accountable, going beyond simple cost savings and evolving their approaches to ones that deliver tangible value to their marketing stakeholders and, more excitingly, to their overall organisation’s business results.

Having marketers and their procurement colleagues share aligned growth goals could be a real game changer■ COMMUNICATIONS

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ŽELJKA MIĆIĆ, RESEARCH & DEVELOPMENT MANAGER AT MCCANN BEOGRAD

What Is “The Truth About Age”?

How often do we think about aging? What are we afraid of and what are we looking forward to in our old age?

What are the greatest joys and the greatest worries of old age? When is it too late to start your own business or fall in love? Does the view of old age and aging in Serbia differ from the rest of the world?

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he study “The Truth about Age”, conducted by McCann Truth Central – the centre of expertise of McCann Beograd, sought to answer these and many other questions. The study was carried out in more than 30 countries, including Serbia, and provided insight into global trends and comparisons between local and global results.

The aim of the study was twofold: to explore attitudes of different generations towards aging; to offer a better understanding of those tagged as ‘seniors’ by society.

The representative sample of those polled in Serbia had 1,000 participants aged over 18, while part of the study focused on the over-55s, with a total of 500 respondents in that group.

“Aging is not something that only older people think about. Aging is an inevitable process that all generations and people face, wherever and however they live. The pressures of feeling and looking youthful have never been greater. This study shows us the way people see old age and aging, how their attitudes change as they grow older, what they do to slow the aging process, what they might regret in the future, how Serbia differs from the rest of the world in that sense, and many other things. This topic

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has never before been studied in this manner, and the results give us a new perspective of aging and our attitude towards it,” says Željka Mićić, research and development manager at McCann Beograd.

Thanks to this study, McCann discovered several facts about aging: 1. We are not looking forward to old age In Serbia, people in their 20s and 30s are the least worried about the aging process and think about old age the least, as they view it as being too far in the future. However, as we grow older we are less indifferent towards aging, experiencing more worry and fear.

2. Finances are the greatest worry of the older generation in Serbia, and family brings the greatest joy.

For 72% of over-55s, the greatest source

of happiness is their children and grandchildren, while most of them would like to spend more time with their families.

As many as 95% of respondents claim to have good relations with their offspring and would like to be remembered for caring about family and friends.

Financial worries are the number one problem among older people in Serbia, followed by problems related to their children and grandchildren.

3. When do we actually become old?

The largest percentage of participants in the study consider that we’re ‘old’ when we reach our 60s, while the younger generations perceive 50+ as old age and older participants view it as 70+.

However, 58% of participants think that it is never too late for love. ■

Financial worries are the number one problem among older people in Serbia, followed by problems related to their children and grandchildren McCann Beograd’s ‘McCann Truth Central’ is part of the McCann global expertise centre that is present in 168 locations worldwide. To date it has presented the studies “The Truth About Mothers” (2013), “The Truth About Wellness” (2014) and “The Truth About Youth” (2015/2016).

McCann Truth Central is a global intelligence unit dedicated to unearthing the macro level truths that drive people’s attitudes and behaviours about life, brands and marketing. www.mccann.rs

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LJILJANA IVOŠEVIĆ, REGIONAL STRATEGIC DIRECTOR AT UM

It's All About The Moments How we communicate on social media has never been more important, for ourselves, for brands or for politicians. This constant change inspired UM to launch the largest global social media research 12 years ago, with a clear aim: to track user growth and growth in the importance of the new media phenomenon. Naturally, along with the growth of social media grew our desire to understand them better and learn how to help grow our clients' brands

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iljana Ivošević, Regional Strategic Director at UM Agency, explains: “Wave 1, launched in 2006, primarily focused on the evident rapid growth of social media users who communicate online. From one ‘Wave’ to another, we covered different topics: how social media changed form from predominantly textual to audio-visual, as their significance in shaping the opinions of groups of peers and colleagues strengthened, as did the need of users to communicate with brands on social networks etc.“ Wave 9 research was conducted in 78 markets, with 52,326 respondents representing 1.5 billion active internet users - those who use the Internet every day or every other day, and influence the growth and development of social media; those who adopt platforms and tools, and ultimately decide which will be dominant. In Wave 9, as the name “The Meaning of Moments” suggests, we are dealing with the detection of moments in which our consumer is most receptive to our communication and we learn how to make our communication more relevant at that moment.

"Wave 9 reveals, for example, which moments are most relevant to the communication of cosmetic brands, which media channels the target group uses when requiring information about products, which online platforms to use at those moments and on which devices. Furthermore,Wave reveals how the target group feels at

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those moments and what it needs to be satisfied, which is extremely important information for creating specific communication. We can now analyse these moments and find out which are more frequent or intense than others. On the basis of this data, we choose the channels (and devices) and adjust the communication. Wave 9 provided us with 9 categories of such data and over 200 related moments. All these moments are implemented in the agency's Moments

primarily taken over by their digital editions.

The Smartphone is undoubtedly the dominant device. However, larger screens (PC & laptop) remain our first choice when we want to consume longer texts and videos, learn or research. The Smartphone prevails when we need some information instantaneously, and it also largely takes on our digital social life.

Messengers are the fastest growing communication channel: from 53% in Wave 8 to

Facebook is still the # 1 social network, used daily by 83% of active internet users, but the number of so-called Facebook-nevers users is on the rise. Instagram, however, is the fastest growing network with users up to the age of 35: from 26% of those who used it at least once a week in Wave 8 to 53% in Wave 9 Tool, which we use in the strategic planning and optimisation of media plans,” adds Ivošević.

MESSENGERS - THE FASTEST GROWING COMMUNICATION CHANNEL Regional data related to media consumption isn't surprising. Online channels are the best when we want to communicate with friends and share our experiences, television is mainly used for entertainment and relaxation, print media still fulfils our needs for information, although their role has been

69% in Wave 9. This is the platform which experts predicted would fail due to the emergence of “lucrative” social networks, but it returned integrated into larger social platforms and clearly reflected our need to react instantaneously and receive instant responses.

FACEBOOK STILL NUMBER 1, SNAPCHAT GROWING RAPIDLY Snapchat recorded 40% growth in the number of users aged under 24 in the region, from 30% in 2015 to 42% in 2017. ■

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JASNA DUGALIĆ, ACCOUNT DIREKTOR, DIRECT MEDIA

Ever Stronger Partnerships There is a lot of talk about "what is the key to a successful relationship between agency and client". Jasna Dugalić, Account Manager at Direct Media, answers questions that clients asked most in 2017

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gencies are indicators that should point out to their partners the changes that are happening in business and our industry, and at the same time offer the most effective solutions to adapt to new business conditions, for the benefit of each one of over 500 partners.

• At the end of 2017, Direct Media had 16 successful years of cooperation with more than 500 clients. How did last year look in terms of cooperation with clients, and what did they ask most over the year?

- Year after year, our partnerships are getting stronger, and they are based on honest relationships whose goal is first of all the benefit to our partner.

Our interaction with clients is everyday, fast and warm with results an imperative. Some new clients wanted to get to know us better last year, so they asked us what sets us apart from other agencies, and some clients with whom we

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have been cooperating for a long time were interested in communications and advertising trends in general. Mostly the questions relate to changes in the digital advertising world, which social networks will survive, how much they can rely on influencer marketing, whether to invest more in digital this year in view of its growth. They also asked us how we

• Direct Media is a specific agency in many aspects. Could you single out in one sentence your comparative advantage, the one that distinguishes you from others?

- The best knowledge of the media and communications, the greatest media power and expertise in the field of strategic campaign planning.

Digital has deservedly gained the status of an equal in the media mix, but its time is only just coming. Last year, we still stuck to the traditional communication channels and television as a dominant medium, but this doesn't mean that there were no bold steps in digital media and campaigns based on more innovative advertising platforms, native advertising, mobile and influencers recruit new staff, how big our creative team is, whether to invest in socially responsible campaigns.

• How did you advise your clients on whether to invest more in TV or digital?

- There is no single answer to that ques-

tion. We treat the channel through which a message is delivered accroding to the goals of the campaign. Digital has deservedly gained the status of an equal in the media mix, but its time is only just coming. Last year, we still stuck to the traditional communication channels and television as a dominant medium, but this doesn't mean that there were no bold

still a diversification of advertising agencies, it takes a back seat to what clients need, and that is for their message to be seen, and then to win the hearts of their consumers. The task of our creative department, as an answer to a client‘s brief, is to always find a functional solution, so the one that 'works'. Sometimes it's a functional campaign would be one like

point out to their partners the changes that are happening in business and our industry.

It is important to know your partner well, and to have a relationship of mutual trust to know whether you need to work on additional education. We have specialised training and tailor made workshops with partners that deal with specific and always hot topics of our work. In addition, we are active in all professional associations in which we discuss new developments on the market, we comment on ongoing issues in the professional media, and this is another aspect of our contribution to the education of the market. In addition, this year for the first time we have students from our partner companies at the Direct Media Academy.

• What is the idea of the lectures at the Direct Media Academy and will you organise a new cycle of this educational programme this year?

- The DM Academy, which has long been an internal educational programme for staff in our network, has been open since last year to all interested participants. We simply want to share some of our expertise with colleagues and to strengthen our brands

steps in digital media and campaigns based on more innovative advertising platforms, native advertising, mobile and influencers.

• You are increasingly present in the market through creative solutions, and last year you built up up your creative department. Have new clients given you a new creative driving force in 2018?

- Definitely this synergy happened through the new clients we acquired. Some of the solutions we have used in new campaigns are those that have received awards both at local and regional marketing events.

But creativity in placing an advertisement in the digital media age has been gaining importance for a long time. So we as a former media agency, and now as an agency that offers integrated communication services, win awards at festivals of creative achievements. Although there is

The Direct Media Academy, which has long been an internal educational programme for staff in our network, has been open since last year to all interested participants. We simply want to share some of our expertise with colleagues and to strengthen our brands and the whole market through better communication Štartaj Slovenija, which gave a boost to Slovenian businessmen and, with them, many of the consumers of Spar, the client of our Ljubljana office, and sometimes it's a simple but efficient mobile application.

• We have heard a lot about predictions in digital advertising for 2018 and new communications trends in general, and that is something that interests your clients too. How do they react to them, do you educate them and in what way?

- Agencies are lighthouses that should

and the whole market through better communication. This year, DMA will have the stamp of innovation as a necessary factor in every business in order to preserve its leading position. The event will be held in May, and our lecturers will join forces with foreign experts. Over a four-day programme we will cover all the relevant topics of modern communications and I am sure that we will be able to give answers to many current issues of the profession also thanks to our guests, experts who will bring new and fresh insights into our market. ■ COMMUNICATIONS

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DNA COMMUNICATIONS

Sprinting Through 2017 How to win a medal in each race and set a new personal record when you're running against Carl Lewis ...

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he past two years have been the most dynamic so far, driven by constant innovation, by the need to change mind set and approach to clients, by the postulate „fast, faster, the fastest“ in everything we do, by new runners emerging in our discipline... But also by the coming of age of professionals of a new and different generation, who have changed and are still changing our industry in important ways. What has led us to winning the throne in this race is deliberately transforming ourselves from a creative communications advisor into a business consultant, thanks to which we set personal records and have won all the clients we have been fighting for - the greatest number in our seventeen-year race.

Insisting that each project and client‘s request be approached in a strategic and analytical way, understanding their needs and goals and providing true and appropriate support on that path, is the direction that DNA has chosen.

It is noticeable that clients are turning more or simply returning to a partnership with agencies and are looking for a complete understanding of their business,

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expertise, commitment, and final result. In practical terms, this means that an agency model from just over 10 years ago must necessarily be replaced by an agency model that is ready for transformation - transformation in all its aspects.

On the communications market, the results and successes achieved are impossible without the most important link – the people who create these communications and who should take the credit. One of the greatest challenges the DNA Communications team has recently faced was therefore the educa-

launched in Serbia two years ago with the goal of raising overall awareness of the importance of dealing with employer corporate branding, getting an idea of the degree of its development in the domestic market and supporting its constant improvement. This is not just about communications support to the HR sector of a given company. It is more about fostering the synergy of this department with the marketing and corporate communications departments, because they are all responsible for creating a top team and atmosphere, and that

"Last year DNA Communications won the Bisnode Award and became the holder of the AAA rating of creditworthiness excellence. Only 2% of businesses in Serbia have this rating, which evaluates their safe, stable and growing direction towards a successful future. " tion and development of professionals under the agency's roof, but also in the broader profession. You can learn a lot about this from the Employer Branding project, which DNA Communications

atmosphere, again, attracts the same kind of people. The sooner we become aware of the fact that success depends largely on energy and atmosphere, we become more successful throughout

our business. This becomes especially important with increasing digitisation and the participation of millennials in the labour market. Although they have found the market somewhat unprepared, the millennials are those who are already taking a major part in creating and patenting innovation in communications and changing them radically. Members of this generation, who among others make up an increasing part of the DNA team, are undoubtedly responsible for easier understanding of the new trends that we are successfully following and applying today, educating clients and the environment at the same time. They show the necessity of understanding the specifics of the millennials as a target group, because the brands we work for speak to them. This further leads us in the direction: talk, understand, learn and change according to the demands of

the new generations you communicate with. All this has resulted in a strong growth in the number of people in DNA Communications, and now our internal team has become an equally important client to its own agency.

To learn and to change, both from our own mistakes and those of others, it is important to talk about them, openly enough and often enough. Promoting both mistakes and failures, we have launched a new form of talking about failures, with agencies, companies and the media as narrators, and all the others that make up the communications market. The first event of the Advertising Fail Stories, under the FuckUp Nights global movement, was launched in November 2017 together with the ICT Hub incubator for technology entrepreneurship. On this occasion, some of the most prominent marketing experts shared their advice

with the visitors and openly spoke about how the road to success is made up of not so simple steps that we often trip or fall on. By answering the questions: "How to rise again? How to start over?" we wanted to break the stereotypes of failure as a shame or taboo. The great interest in the event showed that the market really needs something like this, which is why these stories will continue, as often as possible and with stronger reverberation.

In sprinting through 2017, DNA Communications has proven that the unique philosophy that guides its work and its relationships with clients (Strategy.

Results. Support) is the right one, and this is a more than sufficient “dopingâ€? to enter this year in equally good form. We are hoping for fair play from the participants, the determination of new generations to run with us and ever more races. â–

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DARKO SOKOVIĆ, FOUNDER AND MANAGING PARTNER OF PROPULSION FUND

We Are Building A Region Of Leaders “We strongly believe in this region of ours, with all its flaws and virtues, and we are convinced that it has yet to realise its full potential”

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ropulsion Fund is unique. Established in close cooperation with the leading companies in the region, it is at the same time an agency and a foundation with a clear social mission. "We are a rare animal among agencies", as Darko Soković picturesquely put it. This is not the first public engagement in his career, as he already discovered social activism during his university days.

“Today, Propulsion Fund has three production centres: in Belgrade, Sarajevo and Podgorica, and operations in Kosovo. More than 30 people design, write, record, produce mobile and web applications on a daily basis, create premium video, animated and television content, run campaigns on social networks and create unique communication solutions for about 60 clients a year. The pinnacle of our services are Propulsion Programmes, impact investment vehicles propelled and funded by leading corporations in the region. Investors include SBB,

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Erste Bank Montenegro, Sparkasse Bank BiH, AstraZeneca, Henkel, Apatin Brewery, Microsoft, Coca-Cola HBC Montenegro and Kosovo, Erste Bank Serbia, UNDP, UN Women, AmCham BiH and the Chamber of Commerce of Montenegro.”

• What interest do large companies have in demonstrating their corporate social responsibility through Propulsion, and not, for example, on their own?

- “According to the Truth About Youth Research (McCann Truth Central, 2016), around 90% of youth in Serbia consider CSR an essential part of every serious brand’s operations and would actively engage either physically or intellectually for a brand that is socially responsible. It is clear that there is a generation well aware that companies are the ones crucially shaping our societies, and the youth are ready to embark on that journey together with the corporate sector. Everything we do leads to

one goal: building a strong, heterogeneous and relevant community committed to the company and society as a whole. This community is a powerful accumulated social capital of a company and can be deployed wherever the company wants. It is also a pool of future users, buyers, consultants, partners and innovators. At the same time it generates a capillary, outsourced innovation mechanism in a way that is not possible with centralized thinking in a small group.

Our programmes reshape talented people into leaders, vague ideas into innovative projects and create a cohort of ambassadors of our partner companies’ values.

In this way, we empower great ideas and their conceivers, and transform the region.”

• You were personally among the first in Serbia who worked on connecting, for example, students from Belgrade and Priština, when that seemed like an impossible mission, looking for what they

had in common, and not what divided them. Can we say that the very idea of the Propulsion Fund for the work in the region is on that track?

- “We believe that to deal with communication means, in fact, to actively work on change.That is why today we are the pioneers of the concept of the strategic corporate impact investment in the Western Balkans; the Propulsion Fund manages around 600,000 EUR of corporate impact investment funds per annum. We see ourselves as part of the first wave of new development of the region, led by companies that have understood that only by investing in the community can business itself advance in a sustainable and stable manner.”

region. In 2017 alone, more than 1,100 alumni benefited from the programmes, which also included 40 mentors with around 1,600 mentor hours. In 2017 our programmes received several awards, including the awards of UEPS and Virtus in Belgrade, Iskra in Podgorica and The Internationalist in New York.”

• Perhaps it is too simple to look at things through money, but the fact that companies invested about €600,000 in the Fund in one year says that business people have the need to follow your ideas to build awareness of democracy, respect for human rights, gender equality, and other goals you have set. Would you say that business people are more

Exclusively, I am announcing the launch of the Propulsion League, an innovative internal talent development programme that will be open to all our alumni and associates to further develop their skills, start their projects, and for some of them even to be employed in the Fund • You say that you shape the future of the region - working with young leaders, which Propulsion Project would you single out as the one that best 'shapes the future'?

- “We know how to attract and recognise young people with valuable ideas, together with leading companies in the region, and then involve them in some kind of competition, during which they acquire valuable knowledge and, at the end, choose winners among them. Programmes such as Šampioni svaki dan, Živi svoju ideju or Superste.net truly set the golden standard for the social impact investment strategies of the leading companies in the

aware than political leaders of the need to shape the region 'for the future'?

- “In Serbia alone, companies allocate around €22 million a year for social welfare. With this money you can build, say, less than three kilometres of motorway on Corridor 10. But if that money is invested in brilliant young minds, we will create a new generation that will be able to build hundreds of kilometres of motorways, create new ideas in business, art, culture, innovation, education. The leading companies in our region are those who have the strength, knowledge and resources to transform this region. Together with them, we are building a region of leaders.” ■ COMMUNICATIONS

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LEA STANKOVIĆ, EXECUTIVE DIRECTOR, COMMUNIS DDB

Different From Others

Agency Communis DDB doesn’t only create campaigns and brands for others, but is a brand in its own right

quantified, and where the scale is constantly rising, and it is up to us to fulfil those expectations with each solution.

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ommunis representatives always talk openly about the conditions under which they operate, market conditions and the business with which they deal. Lea Stanković is clear when she says that “the challenges are constant in business and have been for many years”, adding that “we live in the age of results, where everything is measured and quantified, and where the scale is constantly rising”.

- Economic factors dictate conditions on the market, and every year we must adapt to many factors that we cannot influence too much. Obstacles have always existed, but now they change faster and assume new forms. It is a challenge to be competitive on our market, it is a challenge to create something new and never before seen, but the greatest challenge is certainly to provide the high-quality services that are required today while at the same time developing a business you will live from in the future. We live in the age of the results, where everything we do is measured and

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• Is digitisation and its effect in the domain of communication, one of which is very short messages, actually proportional or, in contrast, proportion to the creativity in your business?

- Communis is an integrated agency that provides creative communication solutions, regardless of which channel that relates to. Technological changes and the development of social networks both dictate a faster pace and a different dynamic of work, because we don’t have the luxury of brainstorming a single idea for a month. It is a particular challenge at

to use them in the most creative way for the purposes of the brand.

• Communis is a pioneer in business and a brand in its own right. What differentiates you from other companies that deal with the same business?

- An agency is made up of people and the atmosphere in which they work, and we have for many years held these two important elements in a nice synergy. This kind of combination results in consistently high-quality campaigns and satisfied clients with whom we nurture partner relations. Our principle is that the agency’s growth and development must not take place at the expense of this friends & family atmosphere that

The synergy of people and the atmosphere within the agency ensures the high quality of the campaigns we do and that our clients, with whom we maintain partnership relations, are satisfied the everyday level to create short messages and new advertising solutions that someone will notice and react to while scrolling up to 100 metres of screen during the course of one day. The openness of our people means that they can quickly understand the basics and functionalities of each platform that appears, and

we nurture. Additionally, although the market often views agencies through some of their latest campaigns, I believe the fact that we have endured for such a long time testifies to the fact that Communis is an agency that constantly produces good and different advertising solutions. ■

NEVENA KURTOVIĆ, MANAGING DIRECTOR, FUSION COMMUNICATIONS

CORPORATE

Be Fast, Stay Focused “Digital channels provide unlimited possibilities and it is up to us to adapt and to understand the needs of our audience”

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uccessful communication for us means a unique brand narrative placed through as many communication points as possible”, says Fusion Communications, an agency that also stands out by being focused on integrated communications.

With this in mind, the interview with Nevena Kurtović starts with future plans as the digital communication channels 'win' over the conventional ones.

“The keyword has lately become 'speed'.

If we take the past year or any of the ones before it, it is clear that trends change rapidly and that they are either accepted or rejected just as fast. To a large extent, though not primarily, it is all thanks to the digital. What has changed in communications? Channels have changed, and the way recipients hear a message, the way they are allowed to respond to the message ... the need to communicate will always exist, just that today it's essential to understand that it's more important how our message is understood then how we said it.

“Digital channels have given us very valuable insight into the views of our audience.

It is now our responsibility to adapt and to communicate in the right way. Imagine a room full of people and your story is of no

inertest to anyone; after a few minutes, no one listens to you any more. It's a great challenge to fill the room, tell your story and keep your audience's attention. These rooms full of interested people are in one way or another everyone's goal.”

hand, it is also a huge task for everyone in our industry to create campaigns in such a way that our messages are remembered.

When we already have such a developed way to reach our target group, our task is to adapt to it and to keep hold of it.”

• In an age of expanding digital media and social networks, how can communications experts reach target groups with dedicated messages, when people of different ages, professions and interests behave in a similar way in cyberspace?

- “The digital age, with its almost day-to-day changes, brings us opportunities we could

• As 'golden rules' of communication, you have mentioned fair play and innovation.

It is clear that innovation is an imperative for virtually every profession of the 21st century, but to what extent is this other 'golden rule' respected in our fairly small market?

- “I think that every market, even the smaller

The need to communicate will always exist, just that today it's essential to understand that it's more important how our message is understood then how we said it only imagine before. But putting this aside, I think that since we can now reach a specific target group that we aim at, it's very important to adjust our communications to this group. The diversity of our messages when communicating will at the same time show that we take care of everyone. On the other

ones, have room for anyone who wants to work, create, shift frontiers. I like to see what my colleagues do, I like to see nice and successful campaigns, I also like when a client sticks with a trusted agency for many years. I like to believe that many others have a similar attitude.” ■ COMMUNICATIONS

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MIRO ANTIĆ, PARTNER AND CO-FOUNDER, M2COMMUNICATIONS

Experience Is The New Power Of Marketing “It is important to say that, although technological progress is one of the key factors of civilisation’s progress, mankind should be careful in all of this not to lose the power of the spirit and essence of the human being”

“I

nteraction between consumers and a brand is today imperative, as it leads to a positive, emotional connection that traditional forms of advertising cannot achieve so easily. Brands need to attract attention and engage consumers/clients in an efficient way. Such efficiency is actually achieved by “experiential” marketing,” explains M2Communications partner and Co-founder Miro Antić, speaking for CorD. - It is clear that experiential marketing is becoming an ever-growing topic, and the methodology that will be key to its further development is defined as Experience design.

The great news is that companies and brands are increasingly courageous in their approach to campaignsandcommunicatingwithconsumers.

They are brave to experiment and change boring concepts established by antiquated standards.

For example, the new global BMW website is today actually an online lifestyle magazine, defined by attractive content, while the link to car models is the last position on the main menu. With this, they show that they put the interests, emotions and essential needs of customers in the first place, and not their own product, with which they create a completly new brand experience. An excellent example of this was the launch of the BMW X3 model in Belgrade, which represented a kind of imaginary conquest of Mars.

• What are the most important trends and what will define “event management” and

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“experience marketing” in the future?

- One of the growing trends is combining experiential marketing with a powerful digital campaign. The key is to create digital content that is worth sharing and finding that which will attract the audience in order to achieve a greater “reach” and maximise the marketing result. Clients in our region have not yet fully understood the potential of this approach, but elsewhere in the world the combined model is becoming the standard in organising events. VR (virtual reality) and AR (augmented reality) are present in marketing to a great extent, although manifesting the full potential of these technologies is yet to be expected. However, what’s really exciting – at least in terms of “event” production and “experiential” marketing, is

or activation to become creators and actively change the contents, flow and even the environment of events. In addition to technology, a strong connection with art and cultural heritage will have the same role in the development of this area.

• Where do you see the greatest potential for the further development of your business?

- We are planning to introduce innovations in the field of “experiential” marketing through the development of certain experimental platforms and conceptual solutions. We have set up a new strategy for the further conquering of the international market and will soon start with concrete activities. Viewed globally, the greatest potential is actually in the creating of a new economy through the introduction

Combining digital and virtual content with “live” events or activations will enhance interaction to a higher level and unlock a new dimension in creating a “brand experience” actually “mixed reality”. Keeping pace with technology and integrating it is one of the biggest challenges, but is simultaneously the main driver of the further transformation of “experiential” marketing and event production. New technologies will bring a higher level of the personalisation of experience and enable event participants

of innovative products and services. By creating new ideas, technological solutions and communication models, along with responsible behaviour towards nature and humanity, and with strong support for the development of culture, new opportunities will arise for the further development of both business and society as a whole. ▪

DRAGANA STOJANOVIĆ, DEPUTY DIRECTOR, MEDIA.COM

CORPORATE

Free And Creative When marketing agencies were becoming common, each had to find its own place, and the first clients of Media. com paved this agency’s way towards agribusiness

M

edia.com d.o.o. is an agency that started operating in 2002 when its first clients, big agrocorporations, both foreign and domestic, started working in Serbia. Bayer CropScience, KWS, Dupont, BASF had just been breaking in to the Serbian market.

Perhaps that very fact contributed to the agency’s start in providing and full service it still offers, with the ability to meet any specific requests from its clients. "Our agency chose agribusiness as a focus, but in some ways agriculture has ‘chosen’ us by the force circumstances”, explains Dragana Stojanović, speaking to CorD. - “We realised that all of the marketing tools had to be used in the field of agribusiness, but at the same time it was necessary to hit the right spot with otherwise mistrustful end-users. Seduce them with the spirit but at the same time remain simple and professional. Fifteen years ago, we first used pioneer methods of advertising in the agricultural sector, and today we are trying to be innovative in finding specific solutions. A marketing department in agribusiness follows modern communication trends completely.

Nowadays in agriculture, satellites are used in day-to-day work and GPS navigation for mechanical works, so marketing has to keep up. The target group is a bit diverse, which is why all advertising channels are used.”

• Is there a specific difference between working with agro companies, in creating agro brands and campaigns and other sectors?

- “Yes and no. The market is the same, the end user is at the same time the user of many brands that have approach him according to the latest trends in our field. On the other hand, the analysis on the basis of which we work and measure the position of the brands for which we work in the field of agriculture, tells us that, at least as far as their products

• If you would have to highlight the most important plan or ambition of Media.com for 2018, what would that be?

- “This year's plan is again, above all, that our clients are satisfied. It is important that they are successful in their business so that we can be free and creative in working with them.

By this I am also referring to the solutions that we have prepared for clients this year and which I hope will be adopted in their companies both at the regional and global level. In the 2018 plan there is also

Working with clients in building agro-brands, we use all available communication channels in accordance with our goals, and of course this increasingly involves the online world are concerned, communication channels must be diversified and at the same time at multiple levels.

The target group is not only agricultural producers. The end consumer from the agrarian sector has a great advantage of personal contact with professionals, people in the field, television and printed material. This greatly affects the strategy and structure of plans. That's why we use tools such as video and graphic production, organising events, media buying ...”

a greater orientation towards promoting F & B (food and beverage) in the Organic Food sector.

Global healthy lifestyle trends and the promotion of healthy management absolutely require a change in approach among agro-producers to the production of a healthy and high-quality product intended for an increasingly demanding end user. Serbia has great opportunities in this area and we will work on promoting and connecting producers, restaurants and hotels that recognise this trend. ▪ COMMUNICATIONS

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BRANKA CONIĆ, PR AGENCY DIRECTOR, NEW MOMENT NEW IDEAS COMPANY

Balkan Creativity For The World “We are part of the world and, even more, we are actively shaping this world”

N

ew Moment has good reason to remember the last year fondly, primarily due to the number and significance of the awards and recognition it received. Perhaps that’s why director Branka Conić’s first association with 2017 is as a year that was “magical and the most successful in the history of the agency”.

- New Moment Agency has a tradition as the oldest and most creative agency in the Balkans. We received five Cannes Lion awards at the most prestigious Festival of creativity in Cannes for the project ‘One Book for Peace’, which aims to promote interreligious tolerance and similarities between the two sacred books, the Bible and the Qur'an. Receiving the Cannes Lion Award is tantamount to winning an Olympic gold medal, so this year we brought five Olympic medals back to our country, in competition with 46,000 projects from around the world, and simultaneously became the first agency in history to bring this kind of recognition to our region. Success in Cannes is not only success for our agency, rather it is a major breakthrough on the global stage for all creative people from the Balkan region who have shown that they work at a level shoulder-to-shoulder with the world’s most developed countries, where budgets for the creative industry are immeasurably higher.

In addition to the Cannes Lions, last year we were also again declared ‘Agency of the

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Year in Serbia’ by the Serbian Association for Marketing Communications (UEPS) and ‘PR Agency of the Year’ by the Serbian Public Relations Society for the third time.

• New Moment operates in the region, but also on the global market. You have done campaigns on the Canadian, American and Indian markets, as well as cooperating with the market of the Middle East... Compared to Serbia, what are the difference between the standards, modalities, customer requirements and rules on these markets?

- A good idea speaks all of the world’s languages, so the fact that we live in Serbia

• The year ahead will, in all likelihood, be marked by great technological advancement, especially in the domain of social media, digitisation, new channels of communication etc. In your opinion, to what extent is the Serbian market ready to get involved in these global innovative trends?

- Our market is certainly following the latest trends in the world. Digitisation has also made boundless knowledge possible and created a whole new generation of young professionals who are part of the global scene. On the other hand, I notice that the more digitally connected

Creativity, social responsibility and expertise give credibility to our profession and should provide the basis for reputations to be built or anywhere else in the Balkans doesn’t prevent us from getting our own billboards on the streets of New York or Dubai, which happened to us. Basic rules of the profession are the same the world over, and during this time of the increasing digitisation and automation of processes and even thoughts, it has never been more important than it is today to show the strength of a good idea, the language of the heart and a bright mind.

Creativity is the spice that all great dishes contain. It is the only constant of every success in our work along all meridians.

and informed we are, the more valuable emotions and creativity are considered.

Without them, our job is simply to manufacture advertisements, PR texts, events and press announcements. Moreover, in addition to technological superiority, the power of our profession lies in our capacity to actively change the world in which we live, and this should be used not only to increase the sales of our advertisers’ brands, but also to influence change in people’s consciousness around the world, and particularly in our region. ▪

ALEKSANDRA KOŽUL, PR AND DIGITAL DIRECTOR, NOVASTON MARKETING CONSULTANCY – NMC

CORPORATE

Knowhow, Experience & Creativity “Today In communications it is most important to reach an individual and address them personally”

N

ovaston Asset Management has been doing business for more than four years, carefully building its portfolio as an independent real estate platform.

Recognised as the “grey eminence” of marketing and PR, primarily in the sphere of shopping centres and retail parks, the company recently launched the Novaston Marketing Consultancy (NMC), with great ambitions. “NMC is specialised and focused on retail clients,” explains Aleksandra Kožul, who has personally amassed great professional experience in the public relations domain.

- The inexhaustible knowledge we possess enables us to create and implement various positioning strategies that are harmonised with the unique needs of clients and which, of course, adhere to the highest standards. When it comes to shopping centres and retail parks, it is a major challenge to come up with an adequate communication platform.

We approach each client and project carefully and with unique analysis and custom-made proposals – that is what sets us apart and is expected of us by our clients. We are continuing in that direction in 2018. We are in negotiations with several large foreign clients and are preparing important projects, while we continue to grow in every respect.

• To what extent have the large number of shopping centres and retail parks, including your partners, “oversaturated” the field of communications in Serbia?

- There is always room for good projects and creative, socially-responsible campaigns. It is important to find the right way to approach an individual, a person.

Personalisation is crucial today when it comes to communication. This area has undergone very significant changes over the past few years, due to the development and accelerated advancement of

ages us to present ourselves to clients in creative ways and to reach the final consumers in the most efficient way. In this business, regardless of which branch you are working in, you must be quick and active, familiar with numerous rules and services, and often harmonise differing opinions. That kind of activity doesn’t suit everyone, but one who has once found themselves in this area will find it difficult to return to more static jobs.

Working in the Government of the Republic of Serbia, as an advisor to the deputy PM

We are in negotiations with several large foreign clients and are preparing important projects, while we also plan to continue to grow this year new technologies. Anyone can be an influential communicator today. For that very reason, I believe the room for communication is only expanding and that it is up to us to find our “place under the sun”.

• During your professional career you’ve dealt with communications and public relations in various areas, including politics. Which area is the most challenging professionally?

- Every profession – and, it seems to me, public relations in particular – carries with it certain challenges and encour-

responsible for European integration, was a huge challenge for me personally and I am very proud of that period of my career. Working for your country, being part of big projects, being at the “source” of some key decisions is truly an invaluable experience that I use in my work today. Perhaps the only difference is that in politics every situation, word, move – even the most harmless – can develop into a crisis, while working on marketing and PR for shopping centres and retail parks is far more relaxed and more creative. ▪ COMMUNICATIONS

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CORPORATE

JASMINA STOJANOV, MANAGING DIRECTOR, NOVA COMMUNICATIONS

Political Stability - A Sine Qua Non For Doing Business Building trust with a client and getting him to realise that he is in safe hands and not in the hands of some quack is not just important, but an essential part of a relationship

“C

risis and budget cuts have been a problem in recent years, but another is the proliferation of small and often unprofessional 'agencies' that have become unfair competition by dumping prices”, says Jasmina Stojanov at the beginning of this interview with CorD. But, she adds, "the market has nevertheless stabilised".

“So clients operate in more stable business conditions, they can plan their activities in the long run and with greater certainty, and this opens room for marketing agencies to provide better quality work. Political instability in the last twenty years has been an additional aggravating circumstance in which Serbian agencies have been working, unlike colleagues from other countries in the near and far surroundings. The course of political stability, the one that many ignorant people perjoratively call 'stabilocracy', is a sine qua non for our business so it needs to be supported in full force.”

• Is it easier for the company’s creative team to work with clients who already have a clear marketing strategy, or with those who leave your agency the initiative?

- “It is good when a client correctly defines its problems. The client, therefore, should be a patient who knows exactly where it hurts.

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Unfortunately, sometimes the client behaves as a patient who has found the medicines he needs on Google, but this is a wrong approach in marketing, as in health care. The client who knows what kind of medicine he needs usually makes mistakes and valuable time is wasted disabusing him. Again, on the other hand, trust between the client and the agency is necessary, it is necessary for the client to know that he is in safe hands, not in the hands of some quack doctor, or more precisely quack marketer, of whom there are plenty. A good agency must provide the client first and foremost with a good marketing strategy, and then ensure that the greatest impact is achieved with the smallest budget,

risks and opportunities in the market and in timely response: avoiding risks and exploiting opportunities. And all this in a way that fully takes into account the client’s needs and is cost-effective.”

• How sure can you be in your strategic planning in this environment of rapid technological development but also lack of market predictablity?

- “Plans are often one thing and reality another. We all would like to have clients with whom we can plan for the long term. It would be useful both for clients and for us, but it often happens that the circumstances require a different, guerrilla approach to

A good agency must provide the client with a good marketing strategy, and ensure that it has the greatest impact with the smallest costs that is, the greatest benefit for the product, whether it is goods or services. And now this is a challenge for the client - whether he will choose an agency that will fulfill his wishes or one that will propose the most effective solution. I am a fan of the second approach and I try to make my NOVA Communications a partner to the client, not in fawning or mutual flattery, but in detecting

certain situations. At Nova we are prepared for both options. My agency was established in the mid-1990s and we learned to work for the benefit of clients in the most varied market conditions. This experience is precious, and we share it generously with those we work for. In addition to professionalism, transparency and expediency, I see it as the main quality of the agency I run.” ▪

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ADVERTISING TRENDS 2018

BY MARK HADDON

What You Need To Know

M

oving on, last year we prophesized chat bots, augmented reality (yes, I know everyone did, and still does), plus the growth of social advertising. All of which have come to pass, in some form or another.

But what should the canny advertiser be aware of? What band wagon just cannot be ignored? And what possibilities should you be open to?

MOBILE FIRST… THEN EVERYTHING ELSE! Smartphone ownership and usage is more or less the norm. But the extent to which it is now the go-to device is undeniable.

It’s an advertising trend that’s been coming, I mean when’s the last time you looked up a recipe on your desktop? Or searched for an offer on a pair of boots? The fact is, mobile users are spending over four hours on their

smartphones each day! Not only that but comScore reports that “mobile apps account for 57% of all digital media usage”. The truth is your beautiful display ad, made desktop first, is more likely to find an audience on mobile. Something needs to change. (Hint: it won’t be your audience!)

Businesses need to embed “mobile first” thinking across all their digital marketing.

This means making sure your website, landing pages, banners, in fact all your digital campaigns are responsive. This goes rightdown to the initial stages of design too. You need to think how it will look on the mobile.

Is it mobile ready? Better still, now is the time to design everything mobile first.

Throw out the old thinking of designing a campaign desktop first and then scaling down. Scale up from mobile! Advertising has long gone mobile and it’s about time all brands caught up.

For the first time ever, 2017 was the year digital ad spend outstripped television. In 2017, digital spend was $209 billion worldwide compared to $178 billion for TV advertising. And one final stat. Excluding China, according to GroupM the ‘digital duopoly’ of Google and Facebook will end the year with an 84% share of all digital media investments for 2017!

VIDEO ADS WILL BECOME MORE IMPORTANT Next on the list as an advertising trend for 2018 is video. Video isn’t new but we predict its popularity and use to go stratospheric in online advertising. Among the social networks, both Facebook and LinkedIn are adapting their sites to host video better. While, within display advertising, the use of video is growing. In Europe alone, online video display is multiplying three-and-a-half times faster than non-video display! It now accounts for one fifth of the total display market in Europe according to IAB Europe.

Video is authentic and helps advertisers to connect with viewers, which in turns helps with conversion. Furthermore, people are watching video displaying ever greater numbers on their mobile phones. Making sure you have a video display ad that is mobile ready is a no-brainer.

Daniel Knapp, executive director at IHS Markit, sees the growth of video and mobile as a significant shift in advertisers’ thinking. The fact is “the digital advertising market is changing as we enter the post-desktop age”. And like all changes, it’s better to be at the front than trailing in the wake.

GO NATIVE AND EMBRACE SOCIAL There’s a shift happening in the world of native advertising. In the words of The Economist “a brutal winter is setting in”. Across the web online publishers from Mashable to Vice are COMMUNICATIONS

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experiencing the same problems as their print forefathers.TheduopolyofGoogleandFacebook is sucking up ad spend across all channels. As well as a taking a chunk from the ads sold by the publishers themselves. Both are bypassing the publishers altogether and getting advertisers to spend directly on their platforms. This is a trend that will continue in 2018.

There’s no denying that native advertising will remain a key part of the online advertising puzzle. However, social media is gaining greater traction. Some commentators even predict that native advertising is going to fully shift from publishers to social media. And yes, this means Facebook (and Instagram) is going to be where those ads go. The fact is no other social media operator offers the size of audience and variety of ad formats. Being able to adapt will be key.

TRANSPARENCY GETS SERIOUS! Transparency, ad fraud, and brand safety were huge issues in 2017. It’s no wonder then that a key advertising trend for 2018 will be the industry getting its act together to combat this scourge.

Transparency in digital advertising is important from two perspectives: cost and inventory. You need to know where your ads are served, and where your money is being spent in the ad tech chain. Without this data, your media budget is out of control, you cannot make well-founded decisions, and you are susceptible to fraud.

Better advertising and greater transparency go hand-in-hand. Many brands are demanding an improved media supply chain, and the adoption of industry wide standards.

In 2018 companies that purposefully make things unclear for advertisers will die a slow painful death. The truth is both, context, and whether companies you work with adhere to transparency with, will be huge for brands.

However, it’s not all doom and gloom. One success in 2017 was the adoption of ads.txt by publishers looking to combat ad fraud.

Over 750 of the web’s top 2,000 websites now have ads.txt installed, according to Google.

For Jessica Goodfellow of the drum, “ads.txt has been arguably one of the biggest trends to emerge in 2017”. It’s helped to clean up the programmatic supply chain and adoption rates are set to accelerate in 2018. It’s one way publishers can boost their revenue, and

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advertisers avoid costly mistakes.

2018 will most likely see digital advertisers adopting and applying tools to improve transparency. For example, through using something as simple as a heatmap for banner and video ads. By seeing the location of clicks you can set up rules to detect and filter invalid traffic. Useful for avoiding ad fraud, and improving transparency. Expect all the major players to bring out similar tech, as well as more advanced techniques, such as machine learning.

advertisers need to address in 2018.

MACHINE LEARNING AND AI Last but not least in our list of advertising trends for 2018, is the rise of machine learning. Machine learning is a training process for computers. It’s already used by those in advertising for a variety of activities, such as real-time ads, pattern recognition, and fraud detection. In 2018 machine learning will go next level! Becoming smarter, faster and more efficient.

ADVERTISING TRENDS WITH A ROBOT YouTube has been at the forefront of applying machine learning. Using algorithms to detect and remove content that violates its terms of use. While it doesn’t fully rely on machine learning for the process – it has a 10,000 strong workforce who watch traffic. Machine learning is helping human moderators remove nearly five times as many videos than before. In 2018, expect machine learning to assist and improve processes, from sending messages, to sifting through big data. It’s going to become the norm.

CONCLUSION

Transparency, ad fraud and brand safety were huge issues in 2017.

It’s no wonder then that a key advertising trend for 2018 will be the industry getting its act together to combat this scourge IGNORE GDPR AT YOUR PERIL In 2018 another advertising trend that cannot be underestimated is privacy. In particular, If you don’t already have a plan for GDPR then hurry up – the clock is ticking. If you do business in Europe, then GDPR will have a massive impact on how you advertise online. For those engaged in online advertising it’s a critical change.

GDPR means the data a company can hold on any user located in the EU is about to get that much harder to access and hold. With new privacy regulations, and procedures, combined with tough enforcement. GDPR will apply to all companies processing the personal data, of anyone residing in the EU, regardless of the company’s location. Details of the changes that will come into play on 25th May 2018 are here . Being solid on issues of privacy and data security is something all

It’s been an interesting year to say the least, but politics aside, digital marketing continues its remarkable rise. Technology has again enabled better and more sophisticated campaigns. While, if anything, the events of 2017 have set the tone for 2018. GDPR is looming and brands already know the first challenge that awaits them. Plus, navigating the wake left by duopoly of Facebook and Google is only going to get harder for digital marketers.

With new technology embedded, greater focuses on accountability, and “value”, 2018 has the potential to be a pivotal year. Here at Bannerflow we’re already providing brands with the right tools to make the most of these trends. Plus, with new features for social networks, creating well-crafted, eye-catching, ad campaigns, which convert, is – hopefully – only going to get better. ■

MY LIFE RADE ŠERBEDŽIJA, ACTOR, POET, WRITER

People Who Hate

B y R A DM I L A STA N KOV I Ć

ARE UNHAPPY

This great Yugoslav actor, who has enjoyed a glittering international film career, talks about how – as a Serb from Croatia - he left a country at war in the 1990s, which is why hatred is a foreign word to him, and he teaches his students in Rijeka about that today. He has been a guest in the home of famous Croatian writer Miroslav Krleža, and long ago he drove today's Croatian Prime Minister to basketball training with his own sone when they were kids. He has shot films with global stars, but for him the only remaining Hollywood great is Warren Beatty FEBRUARY

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A

Stana, father, Danilo, and elder sister, Milica – he moved away from his native Bunić to the city of Vinkovci, in the Slavonia region of Croatia. There he completed secondary school, before leaving to study acting in Zagreb.

His father was an army officer and then a policeman. Wanting his son to be a doctor or an architect, he didn’t approve of Rade’s decision to study acting. He lived to the age of 104 and never once watched his son perform in a single film, television show or theatre play. When his son would ask him why he persistently avoided watching what he was doing, he would answer: “Oh, my Rade, you torment yourself a lot...”

Dane, as everyone called the actor’s father, was unhappy that his son was often being called out on the public scene for his statements and interviews. At one point long ago, as Rade noted in his book After the Rain, Dane begged his son: “I beg you to take care of yourself. To stop challenging and criticising. For the government you are an enemy of the state, no matter how popular you are as an actor. So, son, keep your wits about you. Leave politics to politicians.”

Today, several decades after that conversation, CorD asks Rade how right his father had been when he told him to steer clear of politics. As someone who seems more aware of the pitfalls of political exposure today, we ask him if he feels that he was mistaken in the past when he gave his voice publically in favour of and against RADE with his wife LENKA this or that: I raised my hand publicly when I had to support “I didn’t give my famous characters.”

Račan’s attempt to establish the SDP in Croatia. voice to anyone easily. Šerbedžija was a rare surname on the I also publicly gave my vote to Ante Marković, who Or rather, to be preterritory of the former cise, during Tito’s Yutried – along with his reformers – to stop the Yugoslavia, belonggoslavia I was a proud trumpets of war that had started to be played with citizen of that country, ing only to those from the nationalist programmes on the territory of although in essence I the village of Bunić was also some kind near the small town of the former Yugoslavia of dissident, followKorenica, once known as Titova [Tito’s] Korenica, where Rade was born in 1946. Bunić ing the unrest and aesthetics of the critical films of my friends is a village in an impoverished region of Croatia known as Lika, Žika Pavlović and Dušan Makavejev... I grew up on the books where Serbs comprised the majority of the population. In his of Miroslav Krleža and loved Danilo Kiš. Together with Ristić, I youth, Rade visited and spent time with the greatest living Croalaunched KPGT [Kazalište, Pozorište, Gledališče, Teatar – four words for ‘theatre’ in Yugoslav languages], which in the mid tian writer, Miroslav Krleža (1893-1981), who bequeathed his hat 1970s and ‘80s was a brave intergenerational dialogue with an to him before his death, which the actor still wears occasionally. outdated and obsolete party system.

On one occasion, while they sipped cognac in Krleža’s home, the “Yes. I raised my hand publicly when I had to support Račan’s author of The Glembays explained to the young actor that the attempt to establish the SDP in Croatia. I also publicly gave my Šerbedžija people were so named because they actually made vote to Ante Marković, who tried – along with his reformers – to şerbet [sharbat] tea, and that the ‘sherbedzi’ had been some stop the trumpets of war that had started to be played with the kind of ceremonial masters in the Ottoman Turkish court... He nationalist programmes on the territory of the former Yugoslawas once also told that Šerbedžija is the most common surname in southern Georgia... via. Later, when war started to rage on all of our territories, I Rade was just five years old when – along with his mother, was one of the few peacemakers, whose voices were lost in the

Photo by Niksa Duper

ccording to many, he is the world’s most famous native of Lika after Nikola Tesla. However, he refutes that claim at the very start of this interview: “I’m probably among the circle of the most famous people from Lika today, alongside basketball legend Nikola Plećaš, for example, and music star Josipa Lisac.

But Nikola Tesla is in another category. He is beyond everything, even the markings of his birth. He is one of our planet’s most

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to perfectly master the English language. whirlwind of fearful nationalists and fascists.... I’m totally disA year ago, he was invited to the Bansko Court for the first appointed today with the position of the left in the world, and time to celebrate Croatian Statehood Day. We learn from his especially here, in our Slavic lands...” book that Croatia’s current Prime Minister and Rade’s son DaHis two published books of confessional prose, Until the Last Breath and After the Rain, best testify to the fact that Rade does nilo were friends as children, and Rade took them to basketball not feel hatred. And how badly they depicted him in some parts training. Asked today if the entire story of his acquaintance with of the former country in the early 1990s, when war broke out Andrej Plenković ends there, without any desire to expand on in Yugoslavia, when it was dangerous to be a Serb in Croatia, this subject, he briefly answers yes. and also difficult to be a Serb in Serbia if you didn’t think like the government of the time and do as the criminals ordered. How can one survive everything that he’s survived and not feel hate?

“People who hate are unhappy people.

They actually unconsciously hate their own weaknesses and frustrations. It’s really crazy, in this short life we’re given to use, to hate somebody or something that at first sight differs from you, when in fact we are all pretty damn similar and the same in what we seek and our attempts to make something of our lives... We’re all we are equal under this blue sky, and we are all, as the great Croatian poet Tin Ujević said, twinned in this universe... “I am there in some unknown and on a star allocated from afar, and here in one thread, in a flower extinguished, scattered in a world that floats...” The fact that we are all the same gives a man some humility and soothing, and thus there is no hatred within me...”

Rade lost any fear for his own life long ago, but in jest he explains what he fears today: “I lost the fear you’re talking about when I got kids. All of a sudden, you’re not the most important person in the world to yourself. Here I count both my Lenka and my grandchildren, And is Rade still When war started to rage on all of our territories, whom I love endlessly ideologically commitI was one of the few peacemakers, whose voices – in that I mean I love ted to the Left today? them more than my- were lost in the whirlwind of fearful nationalists and And how does he view fascists.... I’m totally disappointed today with ideology generally toself. What am I afraid of? I don’t know. Like the position of the left in the world, and especially day, compared to what all people, I’m afraid it represented in the here, in our Slavic lands of death, but I don’t 1970s, for example: think about that anymore. A man is built so that as he ages he “Leftist ideas are something that has always been close to becomes increasingly indifferent towards death... I’m afraid of me, even though I knew how to recognise a mere ideology that movies that are horrifying and scary. I can’t watch those pictures very often ended up with rigid Bolshevik absolutism, from and close my eyes during terrible scenes in the dumbest horsome real liberal idea of human socialism, among which our Yugoslav self-managing socialism was included, with some of its rors, and my grandchildren scream with pleasure and move my phenomena... Today the leftist movement is in a losing position fingers from my eyes, enjoying my sincere fear.” everywhere in the world, because the great powers controlling Rade has been living in recent years in Rijeka with Lenka, social movements in the world have succeeded in imposing their his wife. They returned to Croatia in 2010, when Rade designed rules of the game on the entire world. That fomented imperialist and launched a two-year programme in this city dedicated to capitalism enslaved the whole world and by warming up various professional training in acting, media and culture. Stage speech wars in all parts of the world they hold the reins in their hands is taught by American teachers, so young actors have a chance FEBRUARY

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‘UCLA Live’ festival and lectured at both UCLA and the California Institute of Arts. She achieved great success as director and artistic director of Ulysses Theatre, which she founded together with husband Rade in the year 2000. She is a lecturer in acting studies at the University of Rijeka.

Rade was loved and adored like few other actors on the territory of the former Yugoslavia. In the summer of 1990, in a country that was still called Yugoslavia, war erupted, and he was in Subotica preparing for the play Oedipus Rex, and during breaks watching the Football World Cup on the television. And so, he almost missed the young and beautiful director to whom he’d been introduced by Ljubiša Ristić.

Lenka was 23 and he’d turned 44 and was a divorcee with two children. They were married the following year and started their life together during times of unrest, during the years when Rade, as a Serb from Croatia, was not desirable in Zagreb, and his children remained there – where he would not see them for the next two years. He found shelter for a short while in Bosnia, then in Belgrade, and when some unknown drunkard shot at him in Belgrade’s Nana café, he took it as a sign that he was no longer welcome there either anymore. And so they set off for Slovenia: “I was ready to work as a taxi driver or do anything else, and I was ready to forget that I’d once been the most popular actor in Yugoslavia,” said Rade, speaking about those times many years later.

In 1992 Lenka gave birth to a daughter, Nina. With her nine-day-old baby, Lenka CHARLES, Prince of Wales, and RADE ŠERBEDŽIJA headed to Skopje by train, and from there That fomented imperialist capitalism enslaved will be the one to set took a plane to Ljuthe whole world and by warming up various wars it alight?” bljana, with war then in all parts of the world they hold the reins in their Fr o m t h e f i r s t preventing travel bemarriage with Ivanka tween Belgrade and hands with abundant support of the Vatican Cerovac, Rade has a Ljubljana. Initially and other ecclesiastical centres of power director son, Danilo, homeless and staying and an actress daughter, Lucija. They gave him four grandchilin a hotel, Rade learned the Slovenian language and performed in the theatre, while Lenka looked after the baby and bathed her dren. He has been married to his second wife, Lenka Udovički, in the sink. They spent the summer on the border with Austria for more than 25 years. Lenka is the daughter of Yugoslav revoin a weekend cottage offered to them by some acquaintances, lutionary, Spanish civil war fighter and diplomat Lazar Udovički, then Lenka’s parents came to help them and they spent a year who was ambassador of SFR Yugoslavia in Caracas when he met living in a rented apartment. the daughter of his Bolivian colleague, Nina, whose full name is Rade received a call from London and together they headed Carolina Maria de Copacabana Sánchez de Lozada, a descendant for the British capital. He worked on Milcho Manchevski’s film of the upper strata of Bolivian society. She graduated in biochemBefore the Rain, which opened the way for him to achieve interistry at Radcliffe College. She married Lazar and together they had four daughters. One of them, the thirdborn Lenka, became national acclaim, while Lenka worked at the Bolivian Embassy a theatre director who worked at the Moving Theatre Company as a cultural attaché and provided the only secure income they in London and staged Shakespeare’s The Tempest at his famous had. Rade founded the Moving Theatre Company with his dear Globe Theatre, with Vanessa Redgrave starring in the lead role. friend and great British artist Vanessa Redgrave, then calls Together with Annette Bening, she staged Medea at the prestigious began to arrive. In 1994, Rade and Lenka received their second with abundant support of the Vatican and other ecclesiastical centres of power.

The world is on its knees. People are mostly disenfranchised and barely existing. The level of consciousness among the world’s proletariat is low and miserable. And no light can be seen in the distance at the end of this terrible tunnel into which our entire civilisation has fallen. The only question is when that darkness will be penetrated by the spark of possible revolution, and who

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There is no middle ground in the former country where Rade daughter, Vanja. Two years later, in 1996, a third daughter, Milica, has no friends and it is touching how he talks about them. Tears are came into the world, and Rade became an international star at sick with his telephone conversation with musician Johnny Štulić the same time, with the hit film The Saint. when he begs him to come to Brioni and hold a concert, just like He has had many interesting encounters with the famous acthe memory of actor Batu Stojković, with whom he most liked to tors and directors he’s worked with over the past twenty years, sing duets. His memoeries of Dragan Nikolić are kind of constant, and he offers wonderful descriptions of these people in his books, because he left his boast to his widow Milena Dravić and since his snippets of life in Los Angeles, and previously in London, only to death she has used it to transport guests to Brioni. Who among summarise it all at one point in an interesting conclusion: the people with whom he was sociable, drunk, sang ... most of all: “Warren Beatty is the biggest star I ever met in Hollywood.

“All of my good, dear and courageous friends ... I carry each of I’ve met Dustin Hoffman and Al Pacino and Jane Fonda. My best them in my heart and I am proud of them. Hey, man, how unforfriends are Vanessa Redgrave, Liam Neeson and Ralph Fiennes.

I shot movies with Tom Cruise, Brad Pitt, Angelina Jolie, Clint gettable it was. “ Eastwood, Charlize Theron, Glenn Close, Nicole Kidman, Michael At the end of last year, Rade promoted his new book, After the Caine, John Turturro, Val Kilmer and many others who can be Rain, and then held his traditional solo concert in the Serbian capital. called stars, but none of them can be compared with Warren Beatty. He is probably the last major star of American film in the mould of Marlon Brando, Merlin Monroe, Ava Gardner, and Warren’s own sister, Shirley MacLaine.

That was a time of Hollywood celebrity, in which film stars were almost deities. They did not earn the same millions of dollars that the greatest Hollywood movie names earn today, but in some way they were more important and almost state-protected as icons of American society.

Many big actors after the 1960s often admit that they are embarrassed to perform on stage.

When asked if he felt that, Sherbedzija said: “I was ashamed when I reached forty. But perhaps that was the reason I became a better film actor. Had I not sincerely suspected the meaning of everything I do in art and even in the art itself, I would probably never be the real Alexander in Milcho Manchevski’s film Before the Rain.”

When Lenka and Rade decided to return to Croatia, to live in Rijeka, and to establish their successful summer theatre festival in Brioni, could it be concluded that they ’ve made It’s really crazy, in this short life we’re given to use, He received remarkable their final move? Well, to hate somebody or something that at first sight there’s a question over praise for his printed whether the word ‘fiautobiographical story, differs from you, when in fact we are all pretty and it is logical form him nal’ can even be used damn similar to end this conversation in Rade’s life, given that by answering the question: Will you continue, through your friend Igor he moved as a nomad because he was forced to do so: Mandić, to write about yourself, your friends and your life?

“No! I do not agree with the word FINAL! I think that while “I don’t know what I’m going to do and what I’m going to write I live, I will try to be curious and travel from idea to idea, from about. Maybe a song again. Although I would, for once again, be city to city. And I’m asking myself and everything around me. bewildered by my friend Igor Mandić, who preferred to play footNow Lenka and I are in love with our young students from Rijeka and we do everything we can to help them grow up as artists ball with Duško Kovačević and Kusturica, with the subsequent and as people .. acceptance of Kusturica’s comment that a different order be amde We teach them the mildness and understanding of diversity between the three of us. I agree to be in third place, but I don’t in the world.” believe that Duško left him his first place.” ■ FEBRUARY

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CHILL OUT CHINA

ICE AND SNOW SCULPTURE CHANGCHUN'S WINTER CULTURE ▶ A total of 30 snow and ice sculptures were selected for display at the China Changchun International Ice and Snow Sculpture Exhibition last month. The selection started in November and the organizing committee eventually received proposals for 51 ice sculpture designs and 133 snow designs from professional sculptors and enthusiasts from home and abroad. Over 100 sculptors from seven countries were invited to the square in the Changchun World Sculpture Park and the Changchun Sculpture Museum square to show their talents.

Sculpturing has become a new tradition in Changchun after twenty years’ efforts by the local government. Now, artistic sculptures can be found in many streets and neighborhoods.

EUROPE

EUROPE’S FIRST LOCATION TO DELIVER THE “SELFIECCINO

IRLEAND

TWO HETEROSEXUAL BEST FRIENDS GET MARRIED TO AVOID TAXES ▶ Two straight best friends from Dublin, Ireland, decided to get married in order to avoid paying around $60,000 in inheritance tax.

Murphy had planned to give his

house to his best friend, but was surprised to find out how much the inheritance tax would be.

Matt Murphy, 83, and 58-yearold Michael O’Sullivan decided to keep things simple with a small ceremony at Sir Patrick Dun’s Hospital Registry Office.

The two have been bros for over 30 years. O’Sullivan currently crashes at Murphy’s place and acts as his caregiver.

▶ The Tea Terrace, based in House of Fraser’s Oxford Street branch, has become Europe’s first location to deliver the “Selfieccino,” which features an image of customers’ faces on the frothy topping of their drinks. Patrons send their headshots via an online messaging app to the barista and are given the choice of either a cappuccino or hot

chocolate as their canvas.

The image is uploaded to the “Cino” machine while the drink is placed in position. The picture is then scanned and reproduced onto the froth using a flavorless food coloring. The process takes around four minutes before an image is presented on the froth, ready to be photographed and sent to all points via social media before drinking, and costs around $7.5 The Tea Terrace hopes to trademark the term as they expand the service across their other two locations in London Victoria and Guildford, Surrey.

USA

GOOGLE'S NEW SUNNYVALE CAMPUS PLANS REVEALED ▶ Search giant Google is set to acquire five acres of land to build new offices on the site of an old U.S. Air Force Base.

The company will construct a Google campus that’ll include two large office buildings at the site. According to San Jose newspaper The Mercury news, one of these buildings will be five stories high.

Concept designs illustrate how the office design incorporates floor to floor, inclining slopes.The Mercury News reports this will allow workers to get from floor to floor via walking, cycling or rollerblading.

Google says the new premises could house 4,500 employees.

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SOUTH KOREA

WORLD’S BIGGEST FLOOR MUSIC FOUNTAIN ▶ According to the Guinness Book of World Records “Dadaepo Sunset Fountain of Dreams”, a 2,519-squaremeter fountain installation at Dadaepo beach in Busan Metropolitan City the world’s biggest floor music fountain.

The fountain measures 2,519m2 and was built by Sahagu Office in Busan, South Korea in 2010. Fountains typically spray water from a water tank, but this particular fountain sprays water from the ground and offers various fountain shows without the need of a water tank. The water reaches a height of 55 metres, there are 1,046 nozzles, 1,148 lights and it cost an estimated $6.1 million to build.

UK

PARLIAMENT STAFF MADE 24,000 ATTEMPTS TO VIEW ONLINE PORNOGRAPHY ▶ In 2017, around 160 requests were made to access pornography websites from computers within the House of

Parliament in the United Kingdom. According to data obtained by Britain’s Press Association (PA), a total of 24,473 attempts were made since last June’s general election from devices connected to the parliamentary network. People in the Parlia-

ICELAND

ment building who tried to access these porn websites include MPs, staff, contractors, staff. In just four months from March to October, these many attempts were made to view online pornography.

A Parliamentary spokesman said of the figures: “All pornographic websites are blocked by Parliament’s computer network.”

P A K I S TA N

PAKISTANI TEEN CAN TURN HIS HEAD 180 DEGREES ▶ Muhammad Sameer (14) from Karachi, Pakistan, is being dubbed as a “human owl” because of his ability to turn his head a complete 180 degrees to look directly behind him. Muhammad Sameer,

FINLAND

FINNISH RÄNGINÄK

FOR ICELANDERS, IT PAYS TO BE WEIRD ▶ In recent years, Icelanders have started to appear exotic and slightly weird. As recently as twenty years ago, they preferred to be like citizens in any other European country – but there’s money to be made by standing out from the crowd. Today, Icelanders wish to be portrayed as eccentric and as close as possible to being indigenous people. There’s a great branding value in this. In a world where big cities, with their highrise buildings, are getting increasingly similar, Iceland is moving in a slightly different direction: “There’s a branding value in being an indigenous people, formed by uncontrollable forces of nature. Icelanders have given up trying to fight off the traditional image that Europe has associated with them – and it’s paying off,” says says Ann-Sofie Gremaud, a PhD in visual culture at Copenhagen University. “Iceland has a good tale to tell the world, and European and American tourists are fascinated by the wild, the different and the eccentric.”

▶ According to the estimates, about 4-5 million Iranians live outside of their own country. The Statistics Finland’s report shows that in 2014 there were close to 7,000 Iranians residing in Finland. The services provided by the Vahid Mortezaei Studio are unique on the Finnish market. “The combination of traditional elements from Iranian cuisine with a modern design has not been seen anywhere before.

“Three years ago, when I baked ränginäk for the first time for my Finnish colleagues, I could not imagine that it would become a turning point in my life. It has been by far the most popular product of our company and we have sold thousands of ränginäks on different occasions in Finland.

Ränginäk has shown that building cultural bridges through food design is possible,” said Vahid Mortezaei.

“I have a dream. I want to make Iranian cuisine globally well-known”, states Vahid. Nearly 4,000 kilometres away from Zanjan, he is already on his way.

from Karachi, uses his hands to help rotate his head back over his shoulders. Now the teen is hoping his unbelievable flexibility will land him a part in a Hollywood movie, Daily Mail, UK reported.

The teenager, who trains constantly to keep up his elasticity, said, “I must have been six or seven when I saw an actor in a Hollywood horror movie turning his head to look behind him. I started practising for it and within a few months, I was able to do it.”

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TIMEPIECES For the Classic FASHION

CLASSIC WRISTWATCHES

Watch-Lover

Watches reflect personal style. They represent more than just utility, serving as an example of taste, character and individual branding. As a true reflection of taste in accessories, finding the perfect watch is a top style priority for most.

Whilst some great timepieces can be found at lower prices, an understanding of top luxury brands will guide your own tastes in watches and direct you towards some worthwhile styles.

The watches featured here are prime examples of internationally acclaimed brands that have gained repute for both their look and functionality.

Here we recap the top luxury classic watch brands you should consider when deciding to renew your collection.

Baume&Mercier - Classima Core Automatic Swiss Made, movement designation: Self-winding, power reserve 38 hour, water resistanceapprox. 50m .

Price: €4,600

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Patek Philippe Grand Complications This is a well-sized classic-looking watch with a stunningly refined dial that in many ways epitomises what Patek Philippe is good at.

Price: €105,500

IWC Da Vinci Tourbillon Retrograde Chronograph The elegant round pink gold case is 44mm in diameter and 17mm high. The movable horns ensure that the superb brown alligator strap by Santoni fits comfortably around the wrist.

Price: € 112,000

Breguet - Classique Tourbillon Extra-Plat Automatique This exclusive model comes with a “Grand Feu” enamel dial thus combining the technical fascination of the tourbillon with the unique elegance and beauty of the enamel dial.

Price:TBA

Chopard Classic Manifacture

Omega Railmaster Time-only: hours, minutes, center seconds, manualwinding, stainless steel.

Price: €11,840

This watch has 18k rose gold case with a black alligator leather strap, white porcelain-style finish dial with rose gold-tone hands and Roman numeral hour markers. Water resistant at 30 meters with dates, hours, minutes and seconds all made in luxury watch style.

Price: €11,164

Vacheron Constantin - Traditionnelle Minute Repeater Tourbillon The Traditionnelle minute repeater tourbillon comes in a choice of pink gold and platinum versions and is powered by the hand-wound movement .

From €414,300

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CULTURE CALENDAR

ChibiCon 2018

Libercuatro

2-4 – Belgrade Youth Centre The large “Japanism” convention has been held every July for many years. The event’s attendance figures and popularity have grown, leading to growth in the need for more such events. In order to meet the increased need for such content, Sakurabana organised the first ChibiCon, in cooperation with the Belgrade Youth Centre, in 2013.

4 - Kolarac – 11.00

Exhibition American Pop Art throughout February – Heritage House

Tango Ensemble Libercuatro will hold a concert in the great hall of the Ilija M. Kolarac Endowment on 4th February at 11am. The repertoire will include pieces by Fresade, Troilo, Cobián, Canara, Villold, Rodriguez, Caballer and Piazzolla. Entrance is free.

Cinéclub ChibiCon represents a convention that is a mini version of Japanism. The name itself, ChibiCon, is composed of two words, Chibi (Japanese for “little”, but also with “cute and sweet” nuances of meaning) and the abbreviation Con, from convention, so the name describes the kind of event it is. ChibiCon is usually held at the beginning of the year in the Belgrade Youth Centre and runs for two days, during which visitors have the opportunity to enjoy various contents.

ChibiCon is dedicated to various aspects of pop culture in Japan, but also many other parts of the ‘geeky’ subculture from around the world. The programme is different each year, through there is some regular content, such as lectures, panel discussions, video game competitions, cosplay, an anime quiz, artist alley and exhibitions.

7 - Institut Français - 18:00 Cinéclub returns to the French Institute in 2018 with an array new films. Film gatherings will be organised every second Wednesday of each month, from 6pm to 8pm, in the cinema hall of the Institute at 31 Knez Mihailova Street.

Screenings are free of charge and are led by a French Institute professor, with whom guests will be able to share impressions of the film whilst also practising their language skills.

diateque, parents of kids attending children’s workshops, but also their friends and family.

Cinéclub will run until July 2018.

A new addition is that Cinéclub is now open to school language pupils, members of the me-

Nemanja Radulović & Double Sens 4,5 – Kolarac – 20.00 Nemanja Radulović returns to Belgrade for two concerts at Kolarac on 4th and 5th February, performing with the Double Sens, an ensemble comprising both Serbian and French musicians.

Nemanja has won many prestigious awards, including First Prize at the Hanover International Violin Competition and the "Révélation internationale de l'année" (Revelation of the year) at the Victoires de la musique classique. These distinctions

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The exhibition encompasses more than 110 original graphic works of art, from artists such as: Andy Warhol, Roy Lichtenstein, Robert Rauschenberg, James Rosenquist, John Chamberlain and Tom Wesselmann.

These works by icons of American pop-art are representative and recognisable works created during the 1960s, when pop artists reached the peak of their artistic expression, all the way to works from the first decade

would be sufficient to dub him one of the greatest virtuosos of his generation, though Nemanja doesn’t fit into any category.

What strikes the listener is the spontaneity with which this young violinist develops his musical phrases, and his joy of playing that pervades the public’s mind and ears.

He sets aflame concert halls with his every appearance, thanks to his performances and stage presence. He was recognised as the “International Revelation of the Year” at the Victoires de la Musique in 2005 (European Association of Artist Managers, MIDEM prize), was nominated as “Rising Star” in 2006 and plays in the most important European concert halls. At the time of writing, Kolarac informed us that tickets are already almost sold out for both concerts, so if you are a fan of Nemanja you better hurry to secure your ticket before they’re all gone.

of the 21st century. The exhibition was ceremoniously opened on 12th January

by U.S. Ambassador to Serbia H.E. Kyle Scott. The exhibition consists of original works in various techniques that are owned by the Visconti Fine Art gallery, which was founded in Milan in 1973 and has a representative office in Ljubljana.

The exhibition will run until 12th March at Belgrade’s Heritage House, Knez Mihaila Street 46.

Mostar Sevdah Reunion 14 – Kolarac – 20.00

Norman Beaker Band 11 – Belgrade Youth Centre – 21.00 The Norman Beaker Band has returned with a sensational new album and will perform at the Belgrade Youth Centre on Sunday, 11th February, as part of the European tour to promote the new album “We See Us Later”, performing as a blues quartet.

With the 2015 album “Live in Belgrade”, the Norman Beaker Trio instantly conquered all in the world of blues, especially with hit “Only I Got What The Other Guys Want”, which reached the top of the international blues charts. Positive reviews from the UK, through Germany, Belgium to Canada, only reaffirmed his iconic status and the undisputed reputation as one of the best British blues musicians. During 2017, Norman Beaker became the eighth Brit to be included in the Blues Hall of Fame in the 21st century.

Mostar Sevdah Reunion, the renowned musical ensemble from Mostar, Bosnia-Herzegovina, almost exclusively performs Bosnian traditional sevdah and gypsy music. The band comprises experienced musicians and often collaborates with renowned musicians in the field of gypsy music – the band made two albums with the “king” of gypsy music, the late Šaban Bajramović, and two albums with Ljiljana Buttler.

Legends 16 – Sava Centre – 20.00 The “Legends” have nurtured and performed Serbian old-town music for 30 years. The

RECOMMENDS

Belgrade Philharmonic Orchestra 8,9 – Kolarac – 20.00

THE PRINCESS DIARIST Carrie Fisher

band traditionally launches its tour of Serbia every February, with a concert at Belgrade’s Sava Centre. If you want to get acquainted with Serbian old-town music or you are already a fan of this type of music, the “Legends” concert is a must.

1480rsd

Kraftwerk 24 – Štark Arena– 21.00

The pioneers of electronic music known as Kraftwerk will perform on 24th February at the Belgrade Štark Arena, under the auspices of the band’s extremely successful world tour of 3-D concerts. Kraftwerk was launched as a multimedia project in 1970 by Ralf Hütter and Florian Schneider. Kraftwerk had achieved international fame by the mid-1970s, based on

The Belgrade Philharmonic Orchestra, led by conductor Uroš Lajovac, will hold concerts in Kolarac its revolutionary electronic “sound landscapes” and musical experiments with robotics and other technical innovations. With its visions of the future, Kraftwerk created the foundations of the sound of the 21st century’s digital age.

By combining music and performance, Kraftwerk 3-D concerts represent a true “Gesamtkunstwerk” - a complete work of art, and reveal the complexity of the relationship between man and machine. The audience at the Štark Arena will be given special branded glasses that will allow them to “absorb” images coming from a

Great Hall on 8th and 9th February, performing compositions by Ligeti, Rodrigo Vidre and Tchaikovsky. huge LED screen set on stage behind the group.

The setlist will certainly include their most famous songs, from “The Robots” and “Computer World” to “Trans Europe Express”: a masterpiece that literally invented a new concept of pop music, anticipating the invasion of technology in modern societies.

Tickets are on sale at the Arena and Billet Service ticket offices, Eventim points of sale and via website starkarena.co.rs.

Opening of the exhibition “Illustrations by Maria Hesse” 8 – Instituto Cervantes – 19.00 An exhibition of original illustrations from the book “Frida Kahlo: A Biography”

by Maria Hesse, which is published in Serbia by the publishing house DIBIDUS. This exhibition features the extraordinary drawings of Maria Hesse in the technique of gouache, brush and acrylic pen on graphic paper, which she used to represent the images of Frida Kahlo and illustrate some moments from her biography.

Presentation of the book “Frida Kahlo: A Biography” 9 – Instituto Cervantes – 19.00

Following the presentation of her illustrations, Maria Hesse will present the book “Frida Kahlo: A Biography”, which has been published in Serbian by publishing house DIBIDUS.

Frida was much more than pain and suffering. It was enough for her to be the shadow of Diego Rivera and his devastating temperament, and she became an artist full of life. Her paintings are joyful and filled with colour, blood and life. She was a fighter who decided to go through life without considering the opinions of others. She was also a passionate woman who decided to live to the fullest – facing both the misfortune and joys life had in store for her. Inspired by the experiences of this Mexican painter, the book presents an illustrated walk through the exciting biography of Frida Kahlo. With this book, Illustrator Maria Hesse provides a new, brighter vision in interpreting the life of a legend.

When Carrie Fisher discovered the journals she kept during the filming of the first Star Wars movie, she was astonished to see what they had preserved - plaintive love poems, unbridled musings with youthful naiveté, and a vulnerability that she barely recognized.

With these excerpts from her handwritten notebooks, The Princess Diarist is Fisher’s intimate and revealing recollection of what happened on one of the most famous film sets of all time – and what developed behind the scenes. Laugh-outloud hilarious and endlessly quotable, The Princess Diarist brims with the candour and introspection of a diary while offering shrewd insight into the type of stardom that few will ever experience.

MILK AND HONEY Rupi Kaur 1650rsd

#1 New York Times bestseller Milk and Honey is a collection of poetry and prose about survival. About the experience of violence, abuse, love, loss, and femininity.

The book is divided into four chapters, and each chapter serves a different purpose. Deals with a different pain.

Heals a different heartache. Milk and Honey takes readers through a journey of the most bitter moments in life and finds sweetness in them because there is sweetness everywhere if you are just willing to look.

SAMURAI SWORDS - A COLLECTOR’S GUIDE: A COMPREHENSIVE INTRODUCTION TO HISTORY, COLLECTING AND PRESERVATION Clive Sinclaire 4123rsd

Japanese swords, particularly those wielded by famous samurai warriors, hold a continuing fascination for collectors of fine arts and historical military weapons. This book is designed to enhance one’s appreciation for the wide variety of Japanese swords (as well as their related polearms), their manufacture and their preservation. This book is beautifully illustrated with paintings, photographs, drawings, and maps. In addition, there is an in-depth glossary and useful tables explaining Japanese calligraphic symbols relating to swords, both of great value to the collector.

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AFTER WORK

SEE MORE: WWW.CORDMAGAZINE.COM

21 DEC

FIC Re-Elects Three Top Officials

The Foreign Investors Council (FIC) held the regular annual session of its Assembly, electing a new Board of Directors and adopting a set of important decisions. As of this year, the FIC has a new election model – seven Board members are elected as a team and four as individuals. Members also adopted the Annual and Financial Report for 2017 and voted for proposed amendments to the Statute.

FIC members re-elected three top officials - CEO of Nestlé Adriatic, Bulgaria and Romania Yana Mikhailova as President of the FIC Board of Directors; Telenor Serbia CEO Ingeborg Øfsthus as FIC Vice President Substitute; and Lafarge Serbia CEO Dimitrije Knjeginjić as FIC Vice President Spokesperson.

Other Board members include: Crowe Horwath BDM Managing Partner Bogdan Djurić, Ernst & Young Partner and Head of Tax Ivan Rakić, CEO of FCA Srbija Silvia Vernetti-Blina, Corporate Affairs and Communications Director in charge of Adriatic region at JT International a.d. Senta Goran Pekez, Regional Property & Expansion Manager at Ikea Vladislav Lalić, President of the Board of Directors of Societe Generale Bank Srbija Goran Pitić, SGS Beograd, SGS Adriatica, SGS Slovenia & SGS Bosnia and Herzegovina Managing Director Marinko Ukropina and Vip mobile CEO Dejan Turk.

21 DEC

Good Year For AmCham & Philip Morris

22 DEC

Best Sportswomen And Men Of 2017

The traditional choice of best sportswomen and men was made at the Serbian parliament on 22 December 2017, organised by the Serbian Olympic Committee and the embassy of the Republic of Korea.

The most successful sportswoman was Milica Mandić, world champion in taekwondo, while the men’s competition was won by world kayak champions Milenko Zorić and Marko Tomićević.

Three special awards were given to world number one in Taekwondo Vanja Stanković, wrestling champion Viktor Nemeš and world judo champion Nemanja Majdov. The winner of the first ‘Olympic Heart’ award was Vladimir Cvetković.

Republic of Korea Chargé d’Affaires Kichang Park spoke to those present in Serbian, congratulating the award-winners on their success last year and welcoming them all to the snows of PyeongChang, where the Winter Olympics and Paralympics will be held in March 2018.

The American Chamber of Commerce in Serbia (AmCham) and the company Philip Morris Services held a New Year‘s ‘Hello Change’ party in the Belgrade café Kafeterija, and saw off another successful year with the belief that 2018 would bring new changes and new successes.

Guests were greeted by Jelena Petrović, Managing Director of Philip Morris International for Southeast Europe. The event brought together representatives of the 200 most successful American, international and Serbian companies, members of this leading independent business association, who enjoyed the pleasant atmosphere created by the Vasil Hadžimanov band and special guest Bisera Valentanić.

12 JAN

U.S. Ambassador Opens Exhibition

American Ambassador to Serbia H.E. Kyle Scott opened an exhibition entitled “American Pop Art” at Belgrade’s Heritage House (46 Knez Mihailova Street) on 12th January.

The exhibition encompasses more than 110 original graphic art works from the iconic American pop art that emerged in the 1960s all the way to the first decade of the 21st century. The selection of works by Andy Warhol, Roy Lichtenstein, Robert Rauschenberg, James Rosenquist, John Chamberlain and Tom Wesselmann will be exhibited until 12th March. Speaking at the opening event, Ambassador Scott reminded those in attendance that the 1950s and ‘60s represented a period of major change for America, with a technological, demographic and industrial boom.

“These artists, whose works we see exhibited, are a product of consumerism, just as I am a product of the baby boom,” said the ambassador.

The “American Pop Art” exhibition is composed of works owned by the renowned Visconti Fine Art Gallery.

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12 JAN

Norwegian Ambassador Receives BELhospice Annual Award

The building of the future hospice centre in Mali Mokri Lug provided the venue for the BELhospice annual award to be presented to the Ambassador of the Kingdom of Norway, H.E. Arne Sannes Bjørnstad.

“Thanks to the support of the Kingdom of Norway in the form of a two-year grant programme totalling €117,224, we have taken care of over 1,500 oncological patients and members of their families. Moreover, we secured over 4,500 free home visits, as well as 8,800 telephone consultations,” noted BELhospice Centre Director Vera Madžgalj.

Also speaking at the event, Ambassador Bjørnstad said that “palliative care is respect for human dignity. I am grateful for the award, but it is actually the BELhpice Centre employees and their volunteers who deserve the award”.

Chairman of the Board of Patrons of BELhospice Centre, Belgian Ambassador H.E. Leo D’aes, thanked the Norwegian Embassy for the assistance provided and underline that the next activities of the BELhospice Centre will be directed towards both the provision of services and the establishment of close cooperation with the relevant ministries and institutions of the system, with the aim of improving palliative care.

16 JAN

Nordic Business Alliance Visits Apatin

Representatives of the Nordic Business Alliance, led by Swedish Ambassador H.E. Jan Lundin and including representatives of the embassies of Norway and Finland, as well as representatives of Nordic companies, visited the Municipality of Apatin. Speaking on this occasion, Ambassador Lundin said: “we received interesting information from representative of Apatin about eco-tourism, the production of bioenergy and other things that make Apatin an interesting destination for investment”.

President of the Municipality of Apatin, Milan Škrbić, emphasised Apatin’s declared status as a port area and the importance of the port to the further development of the entire region.

The director of Free Zone Apatin, Maja Kurudža, familiarised the Nordic Business Alliance’s representatives with the economic potential of the Municipality of Apatin.

15 JAN

Serbian Business Opportunities Presented

A business delegation comprising 16 Japanese companies, with representatives of companies already operating in Serbia, as well as companies interested in discovering more about the business environment in Serbia accompanied Japanese Prime Minister Shinzō Abe on his visit to Belgrade, as part of the official delegation.

The Embassy of Japan, the Chamber of Commerce & Industry of Serbia, the Development Agency of Serbia and the Japan Business Alliance in Serbia co-organised a special business event for the delegation, aimed at informing Japanese companies about business opportunities in Serbia, as well as enabling direct contact with members of the JBAS and Serbian companies operating in the field of IT and the food industry. The event provided an excellent opportunity for the visiting Japanese companies to familiarise themselves with the potential for doing business in Serbia, acquaint themselves with the existing Japanese business community in the country, gathered within the JBAS, and target potential areas for future cooperation with Serbian companies.

17 JAN

Polish Ambassador Opens Exhibition Of Stained Glass

An exhibition of stained glassworks by Adam Stalony-Dobrzański was opened by Polish Ambassador H.E. Tomasz Niegodzisz in the crypt of Belgrade’s St. Sava Temple.

Stalony-Dobrzański was a stained-glass artist, painter, graphic artist, artwork conservator and professor at the Academy of Fine Arts in Krakow.

The exhibition, entitled “Iconostasis of Light. Iconographic stained glass of Adam Stalony- Dobrzański”, comprises the magnificent stained glassworks of this Polish artist and will run until 10th February. The formal opening ceremony was attended by members of the diplomatic corps and numerous visitors.

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AFTER WORK

SEE MORE: WWW.CORDMAGAZINE.COM

17 JAN

Tango Night Tribute To Beltango Quintet

18 JAN

19 JAN

Ambassador Ikonen Hosts Thank You Reception

Argentine Ambassador to Serbia H.E. Ricardo Fernández hosted a 17th January reception and concert at the Argentinian ambassadorial residence as a tribute and mark of special recognition to professor Aleksandar Nikolić and the spiritus movens of the Beltango Quintet, as well as to the members of this quintet for their artistic and professional careers, with quality and transcendence for more than twenty years of dedication to music, especially tango music, both in Serbia and beyond.

Attendees included members of the diplomatic corps and representatives of international organisations, as well as distinguished guests from Belgrade’s cultural and scientific life, all of whom enjoyed the music and spirit of this urban Argentine music.

In his formal remarks, Ambassador Fernández emphasised his proud that this music of Argentinean cities has been renewed and is increasingly alive with this contribution in Serbia, which has wisely incorporated Balkan notes that serve to unite our peoples and cultures even further.

Ambassador of Finland to Serbia H.E. Pertti Ikonen hosted a “Thank You Reception” at the Finnish ambassadorial residence in order to express gratitude for all those who helped the Embassy in its commemorating of the 100th anniversary of Finnish independence throughout 2017. Ambassador Ikonen noted that Finland marked this special anniversary worldwide, and in Serbia the Embassy organised an event each month in honour of the anniversary. As many as 18 companies supported the Embassy of Finland in Serbia in the organisation of these events, each of which the ambassador thanked. The reception’s special guest was Macedonian businessman Svetozar Janevski, who was decorated by the President of Finland with the Order of the Finnish Lion, which was presented to him by Ambassador Ikonen.

22 JAN

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Festival Of European Film Opens

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Serbian Deputy Prime Minister and Interior Minister Nebojša Stefanović, Ambassador of the Kingdom of Norway to Serbia H.E. Arne Sannes Bjørnstad, and Head of the United Nations Office for Project Services (UNOPS) in Serbia Graeme Tyndall signed a Memorandum of Understanding for the implementation of the project “Support of the Kingdom of Norway to the Ministry of the Interior of the Republic of Serbia”.

Through this project, worth €1,975,000, the Police Directorate for Crime Fighting will receive modern equipment and professional training, which will improve its work. Its successful implementation will contribute to the establishment of a systematic mechanism for combatting illegal drugs that is in line with European standards, harmonization with the EU Acquis in the field of combatting terrorism and high-tech crime, and protection of labour rights and improving the safety and security of working environments.

Norwegian Support For Fight Against Crime

The Festival of European Film has brought the best achievements of contemporary European film production to Serbia for the sixth consecutive year.

Maria Mondelou, Press Officer at the Embassy of Greece, and Paul-Henri Presset, Head of Information, Communication and Media at the EU Delegation to Serbia, addressed attendees on the opening of the festival in Belgrade, with the Greek drama “Silent” the first film to be screened this year. Presset recalled that 2016 had seen the introduction of a change in the festival format, with films being screened at festival events in towns and cities throughout Serbia, and only then in Belgrade. “By breaking the Festival into four segments – spring, summer, autumn and winter – audiences in 11 towns in Serbia get a chance to enjoy the very best of European cinema,” said Presset.

The six-day festival includes the screenings of ten of the latest film creations of European cinematography from Austria, Belgium, Croatia, Cyprus, Denmark, Greece, the Netherlands, Portugal, Slovakia and Sweden.

24 JAN

Ambassador Keefe Hosts British Entrepreneurs Active In Serbia British Ambassador H.E. Denis Keefe and Mrs Kate Keefe hosted the British Business Reception, intended for representatives of British companies operating in Serbia, at the UK Ambassadorial Residence in Belgrade, Elsie Inglis House.

The event was organised as part of ‘The Great Campaign’, which has placed a focus on everything the UK has to offer since 2011.

During his address, ambassador Keefe noted that the reception is a reminder of the variety of UK companies present in Serbia, from big to small, and from all sorts of interesting market niches. He thanked the representatives of British companies operating in Serbia for assisting the Embassy in commemorating the 180th anniversary of the establishing of diplomatic relations between Britain and Serbia with a series of events throughout the past year.

24 JAN

26 JAN

Vasilopita Cutting With The Greek Embassy And The HBA

Minister Vujović Reformer Of The Year

The National Alliance for Local Economic Development, NALED, selected Serbian Finance Minister Dušan Vujović as the Reformer of the Year. The NALED Board of Directors presented the award in recognition of the results achieved by the minister in 2017 in the field of suppressing the grey economy, reforming non-tax levies and creating stimulating conditions for the development of entrepreneurship.

At a ceremonial gathering in Belgrade City Hall, NALED also presented special acknowledgments for contributions to reforms to Assistant Finance Minister Nataša Kovačević, Director of the Office for IT and eGovernment Mihailo Jovanović, Head of the Digital Agenda Group at the Ministry of Trade, Tourism and Telecommunications Milan Dobrijević and Loznica Mayor Vidoje Petrović. NALED also used this opportunity to present the jubilee tenth edition of its annual Grey Book, with 100 recommendations to the Government of Serbia for simplifying administrative procedures. The Gray Book has to date presented 210 recommendations from the economy, 89 of which have been implemented by the relevant institutions.

The Embassy of Greece and the Hellenic Business Association (HBA) of Serbia organised the 12th annual event in honour of the Greek tradition of cutting Vasilopita, New Year’s Day cake, at the Greek Ambassadorial Residence in Belgrade.

The event was attended by HBA members and Greek Embassy staff, as well as members and friends of the wider Greek business community in Serbia.

HBA President Zafiris Lampadaridis and Greek Ambassador H.E. Elias Eliades jointly addressed guests, wishing HBA members success in their business and stressing the importance of the strong presence of Greek companies in Serbia.

This year’s event saw the HBA award companies Grand Casino Belgrade and The End of Line in recognition of their 10th anniversary of HBA membership.

26 JAN

Data Protection Day

The Serbian Commissioner for Information of Public Importance and Personal Data Protection commemorated the International Day of Personal Data Protection with a conference that was attended by a large number of ambassadors and other members of the foreign diplomatic corps, representatives of local authorities and institutions, members of the academic community, NGOs and the media.

Alongside Commissioner Rodoljub Šabić, participants in the gathering were also addressed by H.E. Sem Fabrizi, Head of the EU Delegation to Serbia, H.E. Arne Sannes Bjørnstad, Norwegian Ambassador to Serbia, and H.E. Andrea Orizio, Head of the OSCE Mission to Serbia, who said “It is exemplary how the achievements of the Commissioner in the past decade have demonstrated local ownership, serving the interests of all citizens”.

The conference highlighted the results and main problems in the field of personal data protection in Serbia. The Commissioner assessed that it is essential to completely change the State’s attitude regarding the state of affairs in this area.

The conference also including the presenting of the publication “Protection of personal data in the field of labour relations - Views and opinions of the Commissioner”.

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Serbian "Mesečina" In A Japanese Way Three days after they opened the festival “Kustendorf” at Mećavnik, members of the Japanese music group JapaLkan bowed to the audience in Belgrade, with a concert at the Vuk Stefanović Karadžić Culture Institute

T

he hall was too small to receive all those who wanted to hear the notes “Mesečina”, “Vrtlog” and other Balkan songs performed by this unusual band from Tokyo. That is why these musicians decided to organise another concert a day later at the Rakovica Centre for Culture and Education. Both concerts were organised under the patronage of Japan Tobacco International and the Embassy of Japan.

During the two-hour audio-visual spectacle at the Vuk Stefanović Karadžić Culture Institute, band members managed to impress the audience with their skilled performance, the positive energy they emitted from the stage and the atmosphere they created in the hall. The dazzled crowd sang each song together with JapaLkan, and rewarded the group with frenetic applause, 90 |

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calling for encores as many as three times at the end of the concert.

Naoki Hishinuma, the band’s frontman, who both sings and plays the trumpet, tuba and flugelhorn, first came into contact with music from Balkans while at high school, when his professor gave him a CD of a Romanian brass orchestra. Since then he really fell in love with this music, continuing to explore and hearing for the first time, via the internet, performances of Boban and Marko Marković, Goran Bregović and other Serbian musicians. He founded JapaLkan in 2014, with the name derived from the terms Japan and the Balkans, and authored new arrangements for Balkan songs, which he performs, together with his bandmates, in clubs, bars and public places in Japan.

Before establishing JapaLkan, Hisinu-

ma, along with three other members of the band, was a member of the world famous Shibusa Shirazu Orchestra. For some members of JapaLkan this trip to Serbia has provided their first opportunity to perform beyond the territory of Japan.

The Serbian public first heard of JapaLkan in mid-2017, when a Belgrade-based journalist of Russian news agency Sputnik decided to write an article about young Japanese people who love and perform Balkan music, serving to popularise it in Japan.

Delighted by this fact, a family from Serbia decided to donate authentic folk costumes from Šumadija to members of the band.

Japan Tobacco International, which, together with the Embassy of Japan, supported the Belgrade concerts of JapaLkan, is traditionally the largest corporate promoter of Japanese culture and tradition. ■