In Brief
ECB turns down Greek request for one- and two-euro banknotes The chairman of the European Central Bank, Jean-Claude Trichet, said yesterday that in the second series of euro banknotes already being prepared there are no one- or two-euro notes included, despite Greece’s request. The main reason the ECB has cited is the high cost of issuance. Trichet stated that profits from the extension of the banknotes’ life is offset by the high cost of production. However, the European consumer association EuroCoop stated it is in principle in favor of the issuing of one- and two-euro notes, as this will benefit consumers, but it is also against the simultaneous circulation of notes and coins of the one- and two-euro values, as this may confuse consumers. Cyprus competition body says petrol prices fixed Cyprus’s competition regulator has found signs of price fixing among four leading petrol retailers, the watchdog said yesterday. It has summoned Petrolina Holdings, ExxonMobil Cyprus, Hellenic Petroleum Cyprus and Lukoil Cyprus to explain their pricing structures after finding a prima facie case against the four. «We found suggestions of identical pricing policy among the four companies, and an apparent practice of each one of them setting prices among their dealers,» Competition Commission Chairman George Christofides told Reuters. The preliminary finding is that there is scope for further investigation and does not imply a conclusion. The companies will now have to respond to statements of objections compiled by the Competition Commission, and the process could take several more months. (Reuters) Greek firms overtaken Greek companies have slid lower this year on the Grant Thornton International’s «Super Growth» global chart of rapidly developing companies, falling from 21st last year to 24th. Only 10 percent of Greek companies are characterized as rapidly developing. Serbia-EU Serbia needs to relaunch its drive for European Union membership as soon as a new government is formed, says European Commission envoy Josep Lloveras. «The most important thing is to mobilize energies to catch up. This is the key message and the key issue – to make up for the time lost without any further delays,» he told Reuters on Tuesday at the EU Mission in Belgrade. Serbia aims for EU membership in 2012. (Reuters) Agrokor in Bosnia Croatia’s biggest foods group, Agrokor, said yesterday it had acquired Bosnia’s largest private retail chain, VF Komerc, to become the biggest food retailer in Bosnia. VF Komerc’s widespread network of supermarkets came second in terms of market share in the country. It is the only retailer offering online shopping. Agrokor has already been present in Bosnia with production and distribution units. (Reuters)
