Bulgaria’s economy will shrink by five per cent this year, London-based research firm Capital Economics suggests, as quoted by the Bloomberg news agency. In one of the bleakest forecasts about the Bulgarian economy since the outbreak of the global financial crisis, Capital Economics said exports and inbound investment flows will …

The European Commission is considering Belgrade’s proposal to set aside €120 milion from pre-accession funds to help maintain Serbia’s macroeconomic stability and the budget. That is according to EU Enlargement Commissioner Olli Rehn. After a meeting with Deputy Prime Minister Bozidar Djelic, Rehn highlighted that the European Union may start …

NICOSIA, Cyprus — EU Enlargement Commissioner Olli Rehn has called on Turkey to help solve the issue of missing persons in Cyprus, local media reported on Friday (March 20th). Turkey is obliged under a European Court of Human Rights (ECHR) ruling to allow for an effective investigation into the fate …

PRISTINA, Kosovo — Kosovo’s institutions have welcomed the UN’s latest quarterly report on Kosovo as “objective”, media reported on Saturday (March 21st). The report, due to be presented to the UN Security Council on Monday, describes the many challenges facing UNMIK in line with UN Security Council Resolution 1244 and …

BRUSSELS, Belgium — The European Commission (EC) on Friday (March 20th) refuted the Bulgarian government’s claims for additional compensation for the decommissioned units of Bulgaria’s Kozloduy nuclear plant.

BUCHAREST, Romania — Former Prime Minister Calin Popescu Tariceanu lost the leadership of the National Liberal Party (PNL) at an extraordinary party congress held on Friday (March 20th). PNL deputy leader Crin Antonescu was elected as new leader and will be designated PNL’s candidate in the presidential elections later this …

ATHENS, Greece — Greece and Albania have reached an agreement on the delimitation of their maritime space and continental shelf in the Ionian Sea, Greek Prime Minister Costas Karamanlis said on Friday (March 20th). The two countries have successfully concluded negotiations and will soon sign the agreement, expected to help …

A Chicago-based Serb group said Monday it is offering a $100,000 reward for anyone who can locate the grave of a World War II guerrilla leader executed as a traitor by the Communists. The burial site of Dragoljub Draza Mihailovic has been unknown since his execution in 1946 by the …

MOSCOW – Concerns over Russian-backed natural gas pipelines to Europe will not hurt construction because of Moscow’s commitment to the energy sector, officials said. Expanding the natural gas transit system in Europe received renewed focus following a disruptive gas row between Kiev and Moscow that left European customers without 20 …

Relations between Georgia and Azerbaijan are strengthening year by year, Georgian parliament speaker David Bakradze said. “Our interests are interdependent. Azerbaijan is a country with which Georgia will develop strategic and friendly relations,” he said, Novosti Azerbaijan reported.