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☆ Montenegro votes in new government with Milojko Spajic prime minister
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

[1/5] Members of 44th Montenegrin government pose for a family photo in front of the parliament in Podgorica, Montenegro, October 31, 2023. The new government, led by economist Milojko Spajic of the Europe Now Movement, will have 18 ministries and five deputy-prime ministers. It will include the centre-right pro-European Democrats, the pro-Serbian Socialist People's Party and five parties of the Albanian minority. Montenegro joined NATO in 2017, a year after a botched coup attempt that the then government blamed on Russian agents and Serbian nationalists. After Russia's invasion of Ukraine last year, Montenegro, unlike Serbia, joined EU sanctions against Moscow, sent aid to Ukraine and expelled a number of Russian diplomats.

Persons: Stevo, Milojko Spajic, Spajic, Andrija Mandic, Aleksandar Vasovic, Robert Birsel Organizations: REUTERS, Rights, European Union, European Democrats, Serbian Socialist People's Party, NATO, World Bank, EU, Moscow, Thomson Locations: Montenegrin, Podgorica, Montenegro, Rights PODGORICA, Europe, Serbian, Russia, Serbia, Ukraine

PODGORICA, Montenegro (AP) — Police in Montenegro said Tuesday they have launched an investigation after an underground tunnel was discovered linking an apartment building with a nearby court depot holding seized drugs and other crime evidence, officials said Tuesday. It remains unclear why the tunnel was dug, officials said, adding that nothing appeared to have been taken away. The court depot contains evidence in current cases but also large amounts of confiscated drugs, officials said. “This was a well-planned and organized action, which has been prepared for months and which resembles action movies,” said Adzic, adding that the apartment from where the underground tunnel started was leased a few months ago. The tunnel hole in the Montenegrin court building was found in a “well-hidden” place inside the depot, said the court President Boris Savic.

Persons: Filip Adzic, ”, Joaquin “ El Chapo ” Guzman, Boris Savic, “, ” Savic, Vesna Medenica Organizations: — Police, Higher, NATO, European Union Locations: PODGORICA, Montenegro, Podgorica, Montenegro's, Western Europe, Montenegrin

☆ EU aspirant Montenegro must adjust its growth strategy, says World Bank
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

SARAJEVO, June 26 (Reuters) - Unless EU aspirant Montenegro adopts a new economic growth strategy that would boost productivity and human capital, its incomes will not converge with average EU levels in the next 40 years, the World Bank warned on Tuesday. The bank said that stagnant productivity growth was caused by market inefficiencies in the service sector which represents over 70% of GDP, and that Montenegro needed to remove regulatory barriers for firms to enter markets and grow. Most companies lack innovation and invest little in green technology which is needed to sustain tourism growth and develop Montenegro's comparative advantage in clean energy. In addition, Montenegro must tackle its income inequality which shrinks the pool of future skilled workers and entrepreneurs and limits its labour productivity growth potential, the bank said. "By implementing these reforms, Montenegro can expect a thriving private sector, significant job opportunities and ultimately improved wages and benefits for all its citizens," said Christopher Sheldon, World Bank Country Manager for Bosnia and Montenegro.

Persons: Christopher Sheldon, Daria Sito, Christina Fincher Organizations: World Bank, European Union, Thomson Locations: SARAJEVO, Montenegro, Bosnia

☆ Montenegro court jails 'cryptocurrency king' Do Kwon for four months -media
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

A South Korean national, Kwon is the former CEO of South Korea-based Terraform Labs, the company behind the stablecoin TerraUSD that collapsed in May 2022, roiling cryptocurrency markets. Police said after arresting them they had found doctored Costa Rican passports, a separate set of Belgian passports, laptop computers and other devices in their luggage. The sentence follows a court hearing last week at which Do Kwon dropped his request for checking authenticity of the Costa Rican passports after Interpol's confirmation they were fake. South Korean and U.S. authorities have sought the extradition of Kwon and Han and the handover of the computers. Following Kwon's arrest, the U.S. District Court in Manhattan made public an eight-count indictment against him for securities fraud, wire fraud, commodities fraud and conspiracy.

Persons: Do Kwon, Kwon, Han Chang, joon, Han, Daria Sito, Gareth Jones, Jason Neely Organizations: Korean, Labs, Police, Costa, U.S, Thomson Locations: SARAJEVO, Montenegro, U.S, South Korea, Dubai, Podgorica, Montenegro's, Rican, Costa Rican, Manhattan

☆ Montenegro court releases crypto entrepreneur Do Kwon on bail
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +2 min

BELGRADE, May 12 (Reuters) - A court in Montenegro agreed on Friday to release Do Kwon, a cryptocurrency entrepreneur charged in the U.S. with a multibillion-dollar fraud, on bail of 400,000 euros ($440,320), pending a trial on local charges. Following his arrest in Montenegro in March, the U.S. District Court in Manhattan made public an eight-count indictment against Do Kwon for securities fraud, wire fraud, commodities fraud and conspiracy. He was detained with Han Chang-joon, Terraform Labs' former finance officer, who will also be released on bail of 400,000 euros. "The court ... found that the possibility of losing the posted bail of 400,000 euros each, works sufficiently to dissuade them from any desire to flee," the statement said. Montenegrin police arrested Do Kwon and Chang-joon at Podgorica airport as they tried to board a flight to Dubai.

☆ Montenegro's ex-Economy Minister Jakov Milatovic declares victory in run-off presidential vote
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: 1 min

PODGORICA, April 2 (Reuters) - Montenegro's former Economy Minister Jakov Milatovic declared victory in a presidential election run-off on Sunday, ahead of long-standing incumbent Milo Djukanovic. "Tonight is the night we have been waiting for over 30 years and I wish you a happy this victory of all of us," Milatovic told cheering supporters of his right-centrist Europe Now Movement in its party headquarters in Podgorica. "Within the next five years, we will lead Montenegro into the European Union," he said. Reporting by Aleksandar Vasovic; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

[1/6] Milo Djukanovic, President of Montenegro and a candidate from the Democratic Party of Socialists, visits a polling station during the presidential elections in Podgorica, Montenegro, March 19, 2023. Milatovic described his result as a victory of "a beautiful, better, just ... and European Montenegro." Djukanovic has served as president or prime minister for 33 years. "We are content with this level of support, it is a good foundation ... that will carry us to the victory in the run-off," Djukanovic said. A victory in the run-off would bolster the chances of his DPS party in the parliamentary vote.

[1/5] Milo Djukanovic, President of Montenegro and a candidate from the Democratic Party of Socialists, speaks to the media at a polling station during the presidential elections in Podgorica, Montenegro, March 19, 2023. REUTERS/Stevo VasiljevicPODGORICA, March 19 (Reuters) - Montenegro's veteran President Milo Djukanovic will face a run-off on April 2 against a pro-Western former economy minister, after no candidate secured a 50% majority in a first round election on Sunday, according to a vote projection. The Center for Monitoring and Research polling group (CEMI) projected Djukanovic would end up with the most votes, with 35.5%, based on results tabulated from a statistical sample of votes cast. Djukanovic has served as president or prime minister for 33 years. A victory in the presidential election would bolster the chances of his DPS party in the parliamentary vote.

☆ Montenegro's long-ruling Djukanovic launches bid for third presidential term
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +2 min

SARAJEVO, Feb 25 (Reuters) - Milo Djukanovic, Montenegro's incumbent president who has held high-ranking political posts in the Adriatic country for the last 30 years, launched his bid on Saturday to run for a third term in a presidential election next month. The office of president is largely ceremonial in Montenegro, but a Djukanovic victory could trigger an early parliamentary election after the presidential vote because he has so far rejected proposed candidates for the prime minister's job. "I am entering the election race with the intention to win quickly and convincingly," Djukanovic, who heads the Democratic Party of Socialists (DPS), said on Saturday as he submitted his bid with electoral authorities. Opponents accuse Djukanovic and the DPS of corruption, links to organised crime and of running the country of some 620,000 people as their personal fiefdom - charges Djukanovic and his party deny. The state election commission has already approved two other presidential candidates - Andrija Mandic from the ethnic Serb party New Serb Democracy and Draginja Vuksanovic Stankovic of the Social Democratic Party.

☆ Snow and winter storms cut power, disrupt traffic across the Balkans
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +1 min

SARAJEVO, Feb 5 (Reuters) - Gale-force winds and snow storms closed roads and left more than 25,000 households in Serbia without power on Sunday, while fallen trees disrupted traffic in neighbouring Croatia and Montenegro. In Croatia, a red alert was issued for the regions along the Adriatic coast due to north winds estimated to reach 130 km per hour. More than 250 km of local roads in mountainous southeastern Serbia were closed due to snowdrifts reaching two metres, local media reported. Bosnian authorities banned the use of heavy lorries in mountainous regions due to snowdrifts and icy roads. Meteorologists have announced freezing temperatures and snow storms across the Balkans will continue in the days to come.

☆ Holiday in Montenegro becomes escape from call-up for Russians
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Alexander and his wife Svetlana walk on Jaz beach near Budva, Montenegro, September 26, 2022. REUTERS/Stevo VasiljevicBUDVA, Montenegro, Sept 27 (Reuters) - When Alexander and his wife Svetlana arrived for a two-week vacation in Montenegro, they planned to return home to Russia. But President Vladimir Putin's announcement last week ordering a mobilisation of reservists for the war in Ukraine has thrown their lives into disarray. I am afraid we will have no friends left in Russia," Alexander said. Maxim, 48, a physician, was also vacationing in Montenegro when he heard about mobilisation at home.

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