Montenegro's commercial court has ruled opening insolvency proceeding at diversified corporation Vektra Montenegro, Vijesti daily reported. The launch of the insolvency procedure is at the request of OTP Bank and its Montenegrin unit Crnogorska Komercijalna Banka due to an overdue debt of EUR 20.9mn, the daily notes. We remind that according to earlier reports from December 2011, OTP Factoring asked the Montenegrin commercial court to launch insolvency procedures at several companies owned by diversified corporation Vektra Montenegro and at the corporation itself. Podgorica-based Vektra is active in tourism, timber production, logistics services, civil aviation and investment. It is owned by Montenegrin businessman Dragan Brkovic. |
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