Podgorica-registered Adriatic Marinas will invest further EUR 100mn in the development and expansion of marina Porto Montenegro , the company announced. We note that the company, owned by Canadian businessman Peter Munk, officially opened the new marina for large yachts in Tivat last July. The pledged investments will be placed for construction of proper infrastructure and residential buildings. Munk noted that the construction of a Four Seasons Hotel would be delayed for the time being, due to the tough credit conditions in the moment.
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Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more
Montenegro's budget revenue increased by 11.5% y/y to EUR 195mn in the period from January 1 to March 20 due to higher profit tax, social contributions and VAT inflows, news service ... more
Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more