Ten of Serbian economy's 2007 milestones

The following list contains ten events singled out by Beta news agency as the most important economy news last year. 1. On December 26, the parliament passed a law on free distribution of shares belonging to public enterprises. Some four million adult citizens, who have not taken part in previous privatizations, stand to gain up to EUR 1,000 once NIS, Telekom, EPS and other large public companies are sold. Ten of Serbian economy's 2007 milestones 2. The summer drought caused the prices of food to go up between 20 and 30 percent, which brought into focus monopolies and cartels formed in the country's food processing industry. The government reacted to shortages by introducing a temporary ban on wheat, corn, sunflower and soybean exports in August. 3. The Law on the State Auditing Institution was passed at the end of 2005, but this body, set to control the finances in the country, primarily those concerning state budget, was only established and operational at the end of 2007. 4. A tender for the sale of DDOR Novi Sad, one of Serbia's top two insurers, saw 88.3 percent of the company sold to Italian Fondiaria for EUR 220mn. Fondiaria was the sole bidder for the first state-owned insurance firm that was privatized. The contract on the sale was signed on November 30. 5. In March, Serbia's first open-ended investment fund, Delta Plus, started its operations. Overall investment funds' assets last year reached EUR 60mn. 6. Pirot-based Tigar Corporation was the first company in Serbia to appear on the official A Listing of the Belgrade Stock Exchange (BSE), on April 10. Construction giant Energoprojekt and Sojaprotein soybean and sunflower processing company soon followed suit. 7. RK Beograd, a nation-wide department store chain, was sold for EUR 360mn to Belgrade-based Verano Motors in auction on October 29. The figure is the highest sale price reached so far for a company undergoing bankruptcy procedure. 8. At the end of March last year, the government signed a concession contract for the construction and maintenance of the Horgos-Pozega highway. The deal, struck with a Spanish-Austrian consortium incorporating FCC and Alpine Mayreder, is worth some EUR 1.7bn. 9. Serbia's largest private company, Delta Holding, began expanding in the region, with the acquisition of Bosnia's Tropik retail chain in July, followed by the purchase of the second largest chain in Bulgaria, thus entering EU market. 10. The stability of the national currency was maintained despite political instability caused by protracted cabinet negotiations last spring and Kosovo's unresolved status. The exchange rate for the Serbian dinar (RSD) was formed based on the hard currency market offer and demand.

Ten of Serbian economy's 2007 milestones

2. The summer drought caused the prices of food to go up between 20 and 30 percent, which brought into focus monopolies and cartels formed in the country's food processing industry. The government reacted to shortages by introducing a temporary ban on wheat, corn, sunflower and soybean exports in August.

3. The Law on the State Auditing Institution was passed at the end of 2005, but this body, set to control the finances in the country, primarily those concerning state budget, was only established and operational at the end of 2007.

4. A tender for the sale of DDOR Novi Sad, one of Serbia's top two insurers, saw 88.3 percent of the company sold to Italian Fondiaria for EUR 220mn. Fondiaria was the sole bidder for the first state-owned insurance firm that was privatized. The contract on the sale was signed on November 30.

5. In March, Serbia's first open-ended investment fund, Delta Plus, started its operations. Overall investment funds' assets last year reached EUR 60mn.

6. Pirot-based Tigar Corporation was the first company in Serbia to appear on the official A Listing of the Belgrade Stock Exchange (BSE), on April 10. Construction giant Energoprojekt and Sojaprotein soybean and sunflower processing company soon followed suit.

7. RK Beograd, a nation-wide department store chain, was sold for EUR 360mn to Belgrade-based Verano Motors in auction on October 29. The figure is the highest sale price reached so far for a company undergoing bankruptcy procedure.

8. At the end of March last year, the government signed a concession contract for the construction and maintenance of the Horgoš-Požega highway. The deal, struck with a Spanish-Austrian consortium incorporating FCC and Alpine Mayreder, is worth some EUR 1.7bn.

9. Serbia's largest private company, Delta Holding, began expanding in the region, with the acquisition of Bosnia's Tropik retail chain in July, followed by the purchase of the second largest chain in Bulgaria, thus entering EU market.

10. The stability of the national currency was maintained despite political instability caused by protracted cabinet negotiations last spring and Kosovo's unresolved status. The exchange rate for the Serbian dinar (RSD) was formed based on the hard currency market offer and demand.