The Scoville scale, which measures the heat of peppers based on the concentration of capsaicin – the primary active component in spicy chillies, was developed by American chemist Wilbur Scoville in 1912. For comparison, the average jalapeno pepper scores between 3,000 and 8,000 Scoville units.

“Chilli X” is cultivated by Ed Currie, founder of the “Puckerbutt Pepper Company” in South Carolina, who also bred the former record-holder, the “Carolina Reaper”.

“Ed has been cultivating ‘Chilli X’ on his farm for over a decade, crossbreeding it with some of his spiciest peppers to increase its capsaicin content,” the Guinness World Records announced on their website.

Photo: instagram/puckerbuttpeppercompany

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This event signified the debut North American auction of items from the esteemed banking family’s French lineage. Baron James Mayer de Rothschild, his spouse Betty, and their offspring Alphonse, who lived during the 19th century, primarily amassed these artefacts. They have since remained in the family’s possession.

Prominent within this collection was art from past masters, particularly a 17th-century masterpiece by Gerrit Dou titled “Young Woman Holding a Rabbit with a Lad at the Window”, which garnered over £5 million.

A notable ancient piece was a sardonyx bearing the likeness of Roman Emperor Claudius from the 1st century AD, which sold for nearly £85,000. Interestingly, this gem appeared at a Christie’s auction in 1899, fetching 3,750 pounds (roughly £365,000 in today’s currency), shortly before its acquisition by the Rothschilds.

“Such artefacts have remained hidden from public view since the 1800s. Unless acquainted with this Rothschild branch, one wouldn’t have glimpsed them. Such items aren’t typical in New York; one would expect such auctions in Europe,” remarked Jonathan Rendell from Christie’s.

Items like Italian Renaissance pottery, exquisite furniture, silverware, tapestries, and jewellery, epitomising the Rothschild’s refined taste, were also on offer.

“Such pieces would’ve stirred quite a frenzy in the market a century or a century and a half ago. We seldom see such items up for sale nowadays,” added Rendell.

Regarding the family’s decision to auction these treasures, Christie’s speculates it might pertain to streamlining or a generational perspective shift.

“Living as 19th-century Rothschilds isn’t common… Not even for the Rothschilds,” concluded Rendell.

Photo: Courtesy of Christie’s

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The EU’s total output amounted to 84 million tonnes of packaging waste, of which 40.3% were paper and cardboard. Plastics accounted for 19.0%, glass 18.5%, wood 17.1%, and metal 4.9%.

Throughout 2021, each EU resident, on average, generated 35.9 kilograms of plastic packaging waste. Out of this, 14.2 kilograms were recycled. Compared to 2020, both the production and recycling of plastic packaging witnessed a rise: production increased by 1.4 kg per capita (+4.0%), and recycling surged by +1.2 kilograms per person (+9.5%).

From 2011 to 2021, the quantity of plastic packaging waste per inhabitant grew by 26.7% (+7.6 kg/per person). Over the same span, the recycled volume of plastic packaging waste rose by 38.1% (+3.9 kg/per person).

Following stricter regulations implemented in 2020 to ensure member states reported their recycling figures accurately, the recycling rate shifted from 41.1% in 2019 to 37.6% in 2020. In 2021, the recycling rate trended upwards again, reaching 39.7%.

In 2021, Slovenia (50.0%), Belgium (49.2%), and the Netherlands (48.9%) recycled around half or just under half of their plastic packaging waste. Conversely, Malta (20.5%), France (23.1%), and Sweden (23.8%) recycled less than a quarter of their plastic packaging waste.

Packaging waste, generated in households, trade sectors, industries, or other areas, poses one of the world’s most significant waste challenges. It is hard to decompose and can pollute the environment for many years. This includes plastic bags, plastic and glass bottles, cardboard boxes, styrofoam food containers, foils, and adhesive tapes.

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With this transaction, Galenika becomes the owner of the 100% Serbian-Slovenian company Lifemedic and takes over the exclusive distribution of the product program of the renowned Italian pharmaceutical company Pharmalife Research, for the markets of Serbia, Bosnia and Herzegovina, North Macedonia and Montenegro.

The transaction will be completed after the approval process by the antimonopoly commissions in the markets of Serbia, North Macedonia and Montenegro, and is expected at the end of fourth quarter of 2023, after which the process of integration will begin.

“Since becoming a part of the Brazilian NC Group, Galenika has achieved significant business growth and international expansion. The acquisition of the Lifemedic company and the start of cooperation with the Italian manufacturer Pharmalife Research represents another step in the internationalization of Galenika’s business and confirms our full commitment to investments and innovations in accordance with the modern needs of consumers,” said Ricardo Vian Marques, CEO of Galenika.

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“Cooperation in sectors such as infrastructure and production capabilities has borne fruitful outcomes, with the depth, breadth, quality, and efficiency of practical collaboration continually advancing,” Xi remarked. He further added:

“Facing profound global changes unseen in a century, both parties should view their bilateral ties from a strategic, long-term vantage, staunchly supporting each other’s core interests and primary concerns, as well as their mutual paths of development.”

According to CCTV, the Chinese leader underscored China’s unwavering support for Serbia in upholding its national sovereignty and territorial integrity. He expressed eagerness to continue bolstering the strategic synergy with Serbia, aiming to translate their age-old friendship into more tangible cooperation outcomes.

Xi urged both nations to consistently enhance collaboration in pivotal sectors, including infrastructure, and to actively explore novel areas of partnership, encompassing the digital economy and technological innovations.

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The ECB announced that starting 1st November, it would initiate a two-year preparation phase for the digital euro. This phase will involve finalising regulations, selecting its private sector partners, and undertaking tests and experiments.

“After the two-year period, we will decide on advancing to the next phase of readiness, paving the way for a potential future issuance and rollout of the digital euro,” stated the ECB.

While this decision is but a small step in a multi-year initiative, it places the ECB ahead of other Group of Seven (G7) central banks and might set a precedent for others to follow.

Various Caribbean nations and Nigeria have already launched digital currencies, with China and Sweden among those who have embarked on pilot schemes.

However, institutions like the US Federal Reserve, the Bank of England, and the Bank of Canada have exhibited more caution towards such ventures.

Research suggests that central banks representing a fifth of the global population are likely to release their digital currencies within the next three years.

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According to a new World Bank report discussed during the Berlin Process meetings, reducing the average border waiting time by three hours – the difference between the typical waiting time in the Western Balkans and countries of the Organisation for Economic Co-operation and Development (OECD) – could contribute up to three percent of the gross national income.

The World Bank suggests that joining the European Union could enhance these benefits by an additional six percent. Moreover, EU neighbouring countries like Romania, Hungary, and Bulgaria could see gains of around 0.2% due to increased trade with the Western Balkans.

“The Western Balkans holds the immense potential to tap into the market of 450 million people in the European Union. Global experiences, including those in the Western Balkans, show that access to international markets is vital for business growth and achieving economies of scale,” said Antonela Basani. She further added:

“Economic integration provides a swift path to adopting new technologies, flowing in new ideas and innovations, and transitioning to higher productivity supporting growth in middle-income economies.”

The World Bank is already collaborating with partners to facilitate trade and transport in the region through investments and reforms. They’re also supporting Western Balkans’ economies to align their payment systems with European Union standards and meet criteria for integration into the Single Euro Payments Area (SEPA).

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The business will be overseen by Jelena Radulovic, who is joining as the firms new Managing Director. Jelena has over 20 years of real estate experience in Serbia and the region and was previously in charge of the setup and business development of several leading real estate companies in the SEE region.

“I am extremely excited to be part of iO’s continued extensive network of professionals in the region as well as to innovate with a new and fresh real estate approach. We already have 10 colleagues on board, with a clear expansion plan in place, as we look to provide a full range of services across all real estate segments to our clients. The company has a strong tradition and reputation in these markets, and we are already working closely with our new colleagues in Budapest, Bucharest, Bratislava and Prague.”, said Jelena Radulovic on that occasion.

Andrew Peirson, Managing Director of iO’s Prague office, commented: “As a firm we have a long history in Serbia and its neighbouring region, where JLL was market leader for many years. It is great to finally have a business again on the ground that can service our many clients in that region. Serbia is a market that I myself thoroughly enjoyed working in, and I am really excited to work closely with Jelena and her team”.

As a location, Belgrade has been selected as a new expansion location due to both Belgrade’s strategic location within the South Eastern European region and also the huge opportunities on the ground in Serbia. The country is increasingly being seen a gateway to doing business in the region, and with a metropolitan population of 1.7 million inhabitants, Belgrade is a city that is ripe for further international investment.

About iO Partners

iO Partners (IOP) is a real estate services company headquartered in Vienna, providing a full suite of services in the Czechia, Hungary, Romania, Slovakia, and now in Serbia, comprising Agency, Leasing, Capital Markets, Valuation, Project and Development Services and Advisory. With a commanding presence in the Industrial and Office sectors, and the leading valuation team in the region, the company has offices in Vienna, Budapest, Bucharest, Prague and Bratislava, with ambitious plans to continue to expand backed by an outstanding team and its preferred partnership with JLL.  For further information, visit iopartners.com.

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The Free Trade Agreement was inked by Serbia’s Minister for Domestic and Foreign Trade, Tomislav Momirović, and China’s Trade Minister, Wang Wentao. The signing was witnessed by Serbia’s President Aleksandar Vučić and China’s President Xi Jinping.

Additionally, the two countries also penned a Memorandum on Exchange and Cooperation in Economic Development Policy, a Memorandum on the Enhancement of Industrial and Investment Cooperation between Serbia and the People’s Republic of China, and a mid-term action plan on joint construction under China’s “Belt and Road” initiative.

The Memorandum on Exchange and Cooperation in Economic Development Policy was signed by Serbia’s Deputy Prime Minister and Finance Minister, Siniša Mali, and the Chairman of China’s National Reform and Development Commission, Zheng Shaodjie.

The signing ceremony, attended by both presidents, also saw the presence of key Serbian government officials including Deputy Prime Ministers Ivica Dačić, Miloš Vučević, Maja Gojković, Infrastructure Minister Goran Vesić, Interior Minister Bratislav Gašić, and Serbian Ambassador to China, Maja Stefanović.

President Vučić, leading the Serbian delegation, participated in the third “Belt and Road” International Cooperation Forum, which convened leaders from over 100 countries, including Vladimir Putin.

During his visit, Vučić met with President Xi, expressing his sentiments on Instagram, “I’m profoundly honoured and privileged to be in Beijing today. Accompanied by the Serbian ministers, our presence speaks to the respect and significance of this occasion. In all sectors where we collaborate, we’re seeing progress. The Belt and Road initiative has been beneficial for our nation. I’m proud of our camaraderie and the milestones we’ve achieved. The Free Trade Agreement, which we’re signing today, heralds new horizons in our bilateral ties.” He further added, “Thank you, President Xi, for your personal dedication to strengthening the bonds between our nations and peoples.”

Photo: Tanjug/Vlada Srbije

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According to these figures, Europe’s underground gas storage facilities are presently at a 97.89% capacity, marking an 8.54 percentage point increase from the average of the past five years for this period. This equates to a storage volume of 107.75 billion cubic metres of gas.

European nations managed to fill their facilities to the planned 90% level by mid-August in preparation for the upcoming heating season. This surpassed expectations set by the European Commission, which had projected reaching this level by November.

The previous record, a fill rate of 97.84%, was set on 28th October 2019.

The International Energy Agency (IEA) had previously indicated that Europe could potentially fill its gas storages nearly to 100%. However, even such high reserves might lead to market instability in the event of a harsh winter combined with a complete halt in gas deliveries from Russia.

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Ultimately, the decision on whether to exploit the resource will rest with the local populace, who will express their view via a referendum.

ArCore AG, which has its local headquarters in Laktaši, released a statement detailing their completion of all necessary studies to identify the mineral deposits in the Lopare municipality region. 

“All investigations were rigorously adhered to, in compliance with legal regulations and aligning with the highest geological and environmental standards, both locally and internationally. We meet all prerequisites to apply for a concession to utilise this European mineral deposit. We were granted the exploration licence in 2018, followed by three intensive phases of research from 2020 to 2022. Our mineralogical studies over the past four and a half years reveal the deposit contains significant quantities of lithium carbonate, magnesium, potassium, and boron,” the company stated.

Conversely, Lopare municipality’s chief, Rado Savić, highlighted that the decision on lithium exploitation will be determined by the citizens through a referendum. However, this will only take place once all reports from relevant institutions are presented and assurances are given that the exploitation won’t negatively impact the environment.

Photo: Lopare, Promotivni film/printscreen

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At the Berlin Process Leaders’ Summit in Tirana, Czerwińska highlighted the Bank’s dedication to enhanced connectivity, green and digital transformation, and the strengthening of education and health sectors. Supporting the EU’s Economic and Investment Plan for the Western Balkans, EIB Global will amplify its role in the new Growth Plan for the region, especially under the Just Transition Initiative.

Czerwińska said, “Our unwavering support for the enlargement process leads to increased connectivity, a seamless green transition, tapping into the digital agenda, and fortifying education and health systems. Since 2009, the EIB has channelled nearly €11 billion into the Western Balkans, backing trans-European energy schemes and SMEs, thus enhancing the region’s ties with the EU.”

Collaborating with the European Commission and the Western Balkans Investment Framework (WBIF), EIB Global champions sustainable ventures. For 2023, commitments include a €100 million credit line for North Macedonian SMEs focusing on energy efficiency and renewables.

She added, “There’s consensus on improving governance, embracing digital transition, and accelerating renewables. Through collective efforts, like the Berlin Process, we aim to expedite the region’s EU accession.”

In 2023, EIB Global earmarked €120 million for Sarajevo’s transport modernisation and a Serbian road project, boosting regional connectivity and economic ties. Via EIB Global, the Bank’s external arm, support continues for pivotal regional infrastructure, such as rail networks in Albania, North Macedonia, Serbia, and road projects in Bosnia and Herzegovina. The EIB’s commitment since 2009 totals nearly €11 billion, aimed at infrastructure, jobs, innovation, and SMEs in the Western Balkans.

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The agreement was signed by the Prime Ministers of Albania, Serbia, North Macedonia, Montenegro, Kosovo, and Bosnia and Herzegovina.

“Four new professions have been added to those recognized last year at the Berlin Process Summit. We are beginning the process for nurses, veterinary surgeons, pharmacists, and midwives,” stated Majlinda Bregu, the Secretary-General of the Regional Cooperation Council, referencing last year’s agreement that recognised qualifications for dentists, architects, and medical doctors across the region.

Bregu emphasized that individuals in these professions will now have their diplomas recognised throughout the region. “This is our contribution to this year’s summit. We look forward to continuing our work and beginning the ratification procedures for this new agreement on professional qualifications,” she noted, adding that the summit concluded with a reduction in roaming charges between the Western Balkans and the European Union.

Additional agreements signed included the Joint Declaration on Wi-Fi for the Western Balkans Initiative, the Joint Declaration on a single euro payment area (SEPA), the Joint Declaration on regional climate partnership intentions, the Joint Statement on preventing plastic pollution, and several others.

On behalf of Serbia, the agreements were signed by Prime Minister Ana Brnabić.

Photo: Vlada Srbije

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Ursula von der Leyen, the President of the European Commission, and Charles Michel, the President of the European Council, hailed the inauguration as a move of great symbolic significance. They expressed optimism that the opening of the College of Europe’s campus in Albania is a precursor to the Western Balkans’ accession to the EU.

Michel emphasised that this is the newest campus of the College of Europe since 1992, when the second campus was launched in Poland. This comes at a time when the entirety of the Western Balkans is gearing up for a future within the EU, akin to the preparations of Central European countries in the 1990s. “This campus will bridge the region and the EU, fostering a shared European future. Its opening bears profound symbolic importance,” stated Michel.

Von der Leyen recalled that shortly after the inauguration of the Polish campus, Poland and other Central European nations joined the EU. She hopes that the Western Balkans will follow suit after the establishment of the College of Europe’s campus in Albania.

Besides the campuses in Tirana and Warsaw, the College of Europe also has a campus in Bruges, Belgium, which was the first to be opened.

Photo: Twitter @collegeofeurope

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