Serbia News
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Serbia will reduce administrative costs and sell money-losing companies, leaving thousands without work, to avoid cuts in public wages and pensions as it works to trim the budget gap and prevent a public debt crisis.
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Updated 1 hour, 6 minutes ago
Novak Djokovic and Serena Williams were named as the top seeds at Wimbledon, the world’s only grass-court tennis major.
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Updated 1 hour, 32 minutes ago
Twenty years ago, in a debate over the war in Bosnia, Madeleine Albright, then the U.S. ambassador to the United Nations, issued a challenge to the chairman of the Joint Chiefs of Staff, General Colin Powell. Albright wanted the U.S. to confront an aggressive Serbia; Powell and the Pentagon were hesitant. Albright grew frustrated: “What’s the point of having this superb military that you’re always talking about if we can’t use it?” Albright asked. Powell later said that he thought Albright was going to give him an aneurysm.
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Etihad Airways PJSC, the third- biggest Gulf airline, signed a memorandum of understanding with the Serbian government that would lead to a possible tie-up with unprofitable JAT Airways AD.
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Serbia’s budget gap widened to 77 percent of the full-year target in the first five months, as the government continued to repay debts amid declining revenue collection.
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Serbia will invite bids for Telekom Srbija AD, the state-owned phone company, in September, Blic newspaper reported, citing a person it didn’t name.
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Galenika AD, Serbia’s state-owned drugmaker, said it received a compliance certificate for non- sterile products that allows their sales in the European Union.
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Serbia will revise spending to limit the budget deficit to 4.7 percent of economic output this year as part of a broader program to balance austerity and growth, the Finance Ministry said.
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Serbia’s foreign-exchange reserves fell for a second month as the government repaid debt to domestic and foreign creditors, including the International Monetary Fund, the central bank said.
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Serbia’s central bank, which sold euros today to prop up the slumping dinar, urged the government to adopt an austerity program quickly to narrow the budget gap and regain the confidence of investors.
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