The history of artificial intelligence can be traced back to the 1950s, when researchers and computer scientists first explored the possibility of creating machines which could accomplish tasks typically performed by humans. Since then, AI has undergone several significant phases of development, each of which has been marked by essential landmarks and milestones. In 1997, IBM’s Deep Blue computer famously defeated world chess champion Garry Kasparov. In recent years, AI has seen the development of deep learning and neural networks capable of processing large amounts of data and making complex predictions.

Gecic Law has announced the launch of its Artificial Intelligence & Robotics practice in Serbia, to be headed by Founding Partner Bogdan Gecic.

In February, the Parliament of the Republic of North Macedonia ratified the Agreement on the Conditions for Free Access to the Labor Market in the Western Balkans and the Agreement on the Interconnection of Schemes for Electronic Identification of the citizens of the Western Balkans as part of the Open Balkans initiative.

With numerous reports of energy-related business shutdowns, we reached out to local experts across CEE to understand what different markets have been dealing with, in terms of work and production stoppages, and look into the broader impact.

The energy crisis and rising costs are not the primary driver but have certainly accelerated discussions on energy sustainability. Responsible companies and real estate developers are already implementing construction strategies that enable energy sustainability and qualify for certificates such are LEED and BREEM. As the market is turning greener, real estate developers are motivated to do so: it increases the demand, secures financing, and provides an overall better company image.

Amendments to the Tax Procedures and Tax Administration Act (“Act“) were adopted and entered into force on December 20, 2022. The following is a reminder of the most significant changes you should keep an eye on.

In December, the European Commission (“Commission”) issued a Statement of Objections (“SO”) to Facebook’s parent company Meta Platforms Inc. The Commission said that based on its preliminary view, Facebook had violated EU antitrust rules by distorting competition for online display advertising on social media linked to Facebook Marketplace.

Gecic Law Head of Operations and Co-Head of the ESG practice Hristina Kosec has been promoted to Partner.

Contributed by Gecic Law.

In her keynote speech at the 2023 World Economic Forum in Davos, Ursula von der Leyen, EU Commission President, outlined yesterday the main pillars of the EU’s Green Deal Industrial Plan to boost Europe’s leadership in green technology on its road to carbon neutrality. “We know we have a small window to invest in clean tech and innovation to gain leadership before the fossil fuel economy becomes obsolete,” said von der Leyen.

At the beginning of last year, the Electronic Invoicing Act (“Act“) was passed, which entered into force on May 7, 2021. Since the Act brought significant changes to the Serbian economy, the application of some provisions of the Act is postponed, so the latest set of provisions will apply from January 1, 2023. It is when VAT payers must start issuing electronic invoices in all mutual transactions with other VAT payers from the private sector and transactions with public sector entities. Even in the very first stage of this Act, Gecić Law gave an insight into which novelties we can expect.

The European Union is fast-tracking the road to a greener future as EU institutions reach provisional agreements on the Carbon Border Adjustment Mechanism (“CBAM”) and the EU Emissions Trading System (“ETS”). After round-the-clock negotiations between EU officials, the “Fit for 55” legislative package with the ultimate goal of reaching carbon neutrality by 2050 is now being finalized. What are the implications for non-EU countries?

The telecommunication industry in Serbia and the region is going through transformative changes at the core of its business. The market has seen significant consolidation and competition for consumers has become tough. Considerable investment has ensued in the sector, introducing significant changes in both services and delivery. These trends have sparked a remarkable focus shift from traditional land and mobile telephony services to information technologies and media distribution. Consumer needs and aspirations, fueled by the convergence of technologies, have set the bar high, and telecommunication companies have been able to adapt quickly.

The Serbian Competition Authority (SCA) has been relatively busy lately, and the outcome is an abundance of soft law on the one hand and inconsistent practice in actual casefiles on the other.

Although there are several incentives for renewable energy projects supported by the state, there also seem to be several factors that could impede Serbia’s potential for renewables and deter further investments in the sector. Kinstellar Belgrade Managing Partner Branislav Maric, JPM Jankovic Popovic Mitic Senior Partner Jelena Gazivoda, and Gecic Law Partner Ognjen Colic weigh which will carry a stronger impact.

Jovana Velickovic has joined Gecic Law in Belgrade as a Partner and Head of the firm's Dispute Resolution team.

European Union (EU) and Western Balkans telecommunication operators signed a Roaming Declaration at the EU-Western Balkans Summit held on Tuesday in Tirana. According to the Declaration, Western Balkans – EU roaming charges will be reduced voluntarily from 1 October 2023, with subsequent reductions gradually leading to their complete elimination. The commitment was also reinforced as part of the Tirana Declaration, which was agreed upon at the Summit.

On November 10, four Banking & Finance experts from Croatia, Hungary, Romania, and Serbia sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss banking consolidation, financing availability, the effects of high interest rates, bank capitalization, green financing, the specter of loan restructuring, and the other challenges the sector is facing.