Slovenia Business Week no 45 November 2nd 2004 Table of Contents HEADLINES 3 European Commission Autumn Forecast Slovenia s GDP at 4 in 2004 3 Air France to Operate Daily Flights to Ljubljana 3 CCIS Endorses Development Strategy but with Remarks 4 INTERNATIONAL COOPERATION 5 President Says Slovenia Keen for Bulgaria to Join EU on Time 5 Regional Forum Opens at Bled 6 Western Balkans Has Good Prospects for Growth 6 Bulgarian President Discusses OSCE with FM Vajgl and Jansa 7 Drnovsek and Parvanov Call for Stable and Safe Western Balkans 7 Slovenia s Embassy Officially NATO Contact Point in Austria 8 EUROPEAN UNION 9 EU Home Affairs Council Gives Border Control Agency Go Ahead 9 Slovenia Signs European Constitution 9 LEGISLATION 10 Stricter Regulations to Ensure Better Corporate Governance 10 STATISTICS FORECASTS 11 EU Inflation Forecast Higher than IMAD s Due to Oil Prices 11 Inflation at 3 3 Percent 11 Households with Children Better Equipped with IT 11 FINANCE 13 Double Price Tags Promise to Be a Tough Nut 13 Gorenjska Banka in for a Record Year 13 Austrian Insurer Opens Branch Office in Ljubljana 14 NLB Bids for Serbia s Continental Banka 14 Slovenians Turning to Saving in Mutual Funds and Shares 15 Ljubljana Stock Exchange 15 Foreign Exchange 16 BRANCH INFORMATION 17 Zrece and Lasko Declared Best Health Resorts 17 Organic Framers Call for Protection in Face of Spreading GMOs 17 Government Adopts Spatial Planning Regulation 18 European Engineering Industry Upbeat about Growth in 2005 19 Footwear Industry with Mixed Results in Q3 19 COMPANIES 21 Radenska Study Proves Beneficial Effects of Mineral Water 21 Pivovarna Lasko Back in the Race for Knjaz Milos 21 Sava s Profit in First Nine Months Better Than Expected 22 Broadcaster and Telcos Sign EMR Code of Best Practice 22 Luka Koper Opens Office in Belgrade 22 Gorenje Optimistic Despite Multitude of Adverse Conditions 23 Publisher Delo Sees Sales Soar Profit Level 24 SLOVENIA IN BRIEF 25 Alojz Uran Appointed New Ljubljana Archbishop 25 Slovenian Travellers to US Must Have Machine Readable Passports 25 Mobitel to Take Legal Action over Mobikos 25 Mobile Operator Vega Sues the State for EUR 174m 25 Bratislava and Ljubljana Mayors Discuss Cooperation 25 Interbrew Takes Case against Slovenia to World Bank 25 Government to Send Fresh Humanitarian Aid to Darfur 25 39th Borstnik Theatre Festival Awards 25 Frankfurt after Frankfurt to Feature 10 000 Books 26 Two Slovenians in the EESC Presidency 26 2 HEADLINES European Commission Autumn Forecast Slovenia s GDP at 4 in 2004 The forecast projects GDP growth to drop to 3 6 percent in 2005 and gain 0 2 percentage points in 2006 so that GDP growth would reach 3 8 percent The European Commission has forecast Slovenia s GDP growth to reach 4 percent this year in its economic forecast released on Tuesday 26 October The forecast projects GDP growth to drop to 3 6 percent in 2005 and gain 0 2 percentage points in 2006 so that GDP growth would reach 3 8 percent The report entitled Economy in a Rebound says that the Slovenian economy appears to have caught a strong growth momentum this year after a short period of economic slowdown The growth momentum is supported by export expansion prolonged investment surge significant stock building and marked household consumption according to the Commission For 2005 the forecast projects GDP growth to stay steady at 3 6 percent as the economy comes under a mild temporary strain of presently high commodity price levels confirmed by withering investors confidence It is especially domestic consumption that is likely to drive the economy next year the report says Real wage increases are expected to be subdued however a gentle pick up in employment and a new personal income tax regime should spur household spending according to the Commission The Commission expects growth to start accelerating again in 2006 when the negative effects of high oil prices are expected to gradually fade All components should contribute to GDP growth forecast at 3 8 percent with domestic demand giving the main impetus The European Commission forecast says that inflation rate will stand at 3 9 percent this year and will continue to decline The government exercised prudence in regulating administered price increases and indirect tax changes as well as applied frequent adjustments of excise duties on oil to temper the impact of world market price fluctuations the Commission notes Assuming anti inflationary policies continue while exchange rate stability now anchors expectations inflation is projected to stay on a steady trend decline says the forecast which projects the inflation rate at 3 4 percent in 2005 and at 3 0 percent in 2006 The general government deficit is to arrive at 2 3 percent of GDP in 2004 It is projected to remain broadly stable declining marginally to 2 2 percent of GDP next year and to 1 9 percent of GDP in 2006 The Commission downgraded the growth forecast in the eurozone to 2 percent in 2005 which was mainly a consequence of the prolongation of higher oil prices The EU is to see growth at 2 5 percent this year Next year growth is expected to drop to 2 3 percent while edging up to 2 4 percent in 2006 Air France to Operate Daily Flights to Ljubljana French airline Air France will launch a new route Paris Ljubljana on 15 November French airline Air France will launch a new route Paris Ljubljana on 15 November to operate two flights daily during the weekdays and one flight daily during the weekends Presenting the new route Etienne Rochou general director of Air France Europe told a news conference on Wednesday 27 October that the airline launched the new route to meet fresh demand after Slovenia s EU entry 3 The new route will be suitable for business people as well as tourists it will meet the mounting demand of French tourists and will offer Slovenian passengers destinations served by the airline alliance SkyTeam said Rochou SkyTeam currently connects eight airlines namely Aerom xico Air France Alitalia Continental CSA Czech Airlines Delta Air Lines KLM Korean Air and Northwest while three new companies are expected to join in this autumn Air France Regional will serve the route Paris Charles de Gaulle Ljubljana Brnik with aircraft Embraer 145 which boast 50 seats The return ticket airport tax not included is to cost 119 euros Scheduled daily flights between Ljubljana and Paris are already being operated by the Slovenian national airline Adria Airways While Adria and
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