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Latest Business News from Montenegro

balkan-countries-hit-by-cyber-attack-05-15-2017
15 May 17

Romania Worst Hit in Balkans by Cyber-Attack

Romania was the Balkan country worst affected by last Friday's global cyber-attack, while Bulgaria reported that one unnamed public institution was affected.

serbian-church-slams-montenegro-s-plan-to-dam-moraca-river-12-26-2016-1
27 Dec 16

Serbian Church in Montenegro Slams Planned Dams

The Serbian Orthodox Church in Montenegro has criticized a plan to built hydropower plants on the river Moraca, claiming it could endanger an ancient monastery in the river canyon.

montenegro-seeks-new-ways-to-finance-public-health-care-12-21-2016
22 Dec 16

Montenegro Urged to Radically Change Healthcare Funding

After the financing of the public health system almost collapsed this spring, a new model of funding it with money from taxes on tobacco and alcohol has been proposed.

montenegro-opposition-slams-government-s-budget-proposal-12-19-2016
20 Dec 16

Montenegro Opposition Slams Govt's Planned Benefit Cuts

The draft budget for next year drew strong criticism from the opposition, mostly over the government’s plan to cut benefits for families with children and take new loans to plug fiscal gaps.

russian-tycoon-deripaska-sues-montenegro-over-investment-loses-12-07-2016
07 Dec 16

Russian Billionaire Sues Montenegro Over Lost Investment

Oleg Deripaska, owner of the Central European Aluminum Company, is personally suing Montenegro for the loss of his investment in the troubled KAP aluminum plant.

russian-tycoon-sues-montenegro-over-aluminum-plant-loses-11-15-2016
15 Nov 16

Russian Tycoon Sues Montenegro Over Aluminum Plant

The Central European Aluminum Company, owned by the Russian tycoon Oleg Deripaska, is suing the government of Montenegro over the KAP aluminum plant's bankruptcy.

russians-own-every-third-company-in-montenegro-report-08-17-2016
18 Aug 16

Russians Dominate Foreign Ownership of Montenegrin Companies

Despite Montenegro’s cooling relations with Moscow, every third foreign-run company in the tiny Adriatic country is owned by Russians, the state statistical agency said.

montenegro-s-spending-hike-fuels-debt-concerns-06-27-2016
28 Jun 16

Montenegro May Revise Budget to Cover Spending Gap

Montenegro will have to revise its budget for 2016 in order to cover a growing chasm in the public finances.

montenegro-minister-faces-grilling-over-tax-debt-06-17-2016-1
20 Jun 16

Montenegro Minister Faces Grilling Over Unpaid Taxes

The opposition in Montenegro said it had sought a hearing with the Finance Minister over hundreds of millions of euros in unpaid taxes, which the minister is trying to recover.

montenegrin-parliament-votes-to-approve-offshore-oil-drilling-06-16-2016
17 Jun 16

Montenegro Watchdog Questions Adriatic Oil Deal

As parliament readies to approve concession contracts for oil and gas drilling in the Adriatic Sea, the watchdog body MANS has questioned the public interest in the deal.

montenegro-puts-pressure-on-tax-evaders-06-15-2016
16 Jun 16

Montenegro Piles Pressure on Tax Dodging Firms

Montenegrin institutions are under pressure to recover around 230 million euros in unpaid taxes from companies seen as close to the ruling elites.

russians-build-aqua-park-in-montenegro-06-15-2016
15 Jun 16

Russians Build Aqua Park in Montenegro Resort

A Russian company has invested 13 millions of euros in an aqua park on the Montenegrin coast - a project that failed twice before, leaving the local authorities in Budva with big debts.

canadian-mining-magnate-sells-superyacht-marina-in-montenegro-05-04-2016
05 May 16

Canadian Tycoon Sells Montenegrin Superyacht Marina

In an unexpected move, Canadian billionaire Peter Munk is selling his stake in the Porto Montenegro resort to the state investment fund of Dubai.

montenegro-turns-old-military-bases-into-luxury-resort-04-21-2016
22 Apr 16

Montenegro Turns Naval Base into Luxury Resort

Construction of a luxury resort with Azerbaijani capital is due to start on Friday in the Bay of Kotor, in a bid to turn the old Yugoslav Army base into a haven for the super-rich.

montenegro-minister-faces-grilling-over-russian-investments-04-15-2016
18 Apr 16

Montenegro Minister Faces Grilling Over Failed Investment

The opposition in Montenegro said it sought a hearing with the tourism minister over a bank guarantee provided by a Russian investor to build a luxury resort, which turned out to be false.

Premium

russians-flock-to-montenegro-despite-travel-advisory-06-06-2017
07 Jun 17

Russians ‘Flock to Montenegro’ Despite Travel Advisory

It seems few Russians have been put off from holidaying in Montenegro, despite Moscow issuing advisories against travel to NATO’s newest member.

29 Sep 16

World Bank Upbeat About Western Balkans

25 Jun 15

Balkan Economies Brace for Impact of Grexit

12 Aug 14

Montenegro Pins Tourism Hopes on August Surge

10 Nov 11

Jury Out On Who Will Profit From Dams

Politics and Society

russia-s-strategic-plans-failing-in-balkans-iiss-says-06-21-2017
21 Jun 17

Russia’s Strategic Plans Failing in Balkans, IISS Says

London-based think tank says Moscow’s bid to establish bloc of four neutral or pro-Moscow Balkan states has experienced major setbacks in Macedonia and Montenegro.

08 Jun 17

ISIS Threatens Terror Campaign in the Balkans

Culture and Lifestyle

inside-guide-to-the-balkans-secret-wonders-06-06-2017 06 Jun 17

Inside Guide to the Balkans’ Secret Wonders

Scattered across the Balkans are stunning little gems of nature or human history that are well worth making a detour to visit.

28 Dec 16

Ringing in 2017, Balkan-style