Belgrade riverfront to see large investment project

Belgrade riverfront to see large investment project

Eagle Hills is investing up to 4 billion euros to develop property on the Sava River. In other business news: Ukraine, Georgia and Moldova signed free-trade pacts with the EU.

United Arab Emirates-based company Eagle Hills will invest up to 4 billion euros in Serbia to build a business, residential and commercial area along the riverfront of Belgrade, transforming a run-down area along the Sava River. The project is expected to begin in 2015.

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The former Hellinikon airport in the Greek capital of Athens will be turned into a world-class resort, a consortium of companies that won a 99-year lease of the facility in March announced. The companies promised to invest 5.9 billion euros over the next 15 years to build parks, leisure, exhibition and concert facilities, hotels and luxury residencies at the site.

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Ukraine, Georgia and Moldova signed free-trade pacts with the EU to lower trade barriers and boost economic reform. The agreements will become effective when ratified by every national parliament in the EU. The ratification process is expected to be completed by this autumn.

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The European Commission adopted a proposal to extend the autonomous trade preferences for countries and territories participating in the EU's Stabilisation and Association process by five more years until 2020. Agreements have been signed with all western Balkan countries except Bosnia and Herzegovina (BiH) and Kosovo.

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Citizens of Romania work the most among all EU citizens, spending 2,099 hours a year at their jobs, according to a survey carried out by the Paris-based Coe-Rexecode research institute. Greeks are second with 2,010 hours...