Serbia has taken a significant step towards strengthening cyber resilience with the introduction of a new Information Security Law (the “Law”). Although Serbia is not an EU member, the Law aims to align with principles and core mechanisms of the NIS2 Directive, enhancing a safer and more reliable use of information and communication technologies (ICT) and creating a structured framework for managing ICT-related risks.

Ketler & Partners, Member of Karanovic, has advised Mass Group on its acquisition of Leder & Schuh. Herbst Kinsky advised the sellers, MRHG Holding AG and Alchemy. Schindler reportedly advised Mass Group as well. 

The Assembly of the Republic of North Macedonia has adopted a new Law on Control of Industrial Emissions (“Law”), as an important step towards harmonisation of national legislation with European Union standards in the field of environmental protection.

Following the successful 2025 Hungarian General Counsel Summit in Budapest, on October 21, 2025, CEE Legal Matters brought the Balkan General Counsel Summit to Belgrade, gathering leading in-house counsel and legal professionals from across the region.

Karanovic & Partners has advised Lob on its sale to Fortune Entertainment Group in Montenegro. Schoenherr reportedly advised FEG.

The Serbian Ministry of Finance initiated on 1 October the public consultation on (i) Law on the Tax on Greenhouse Gas (GHG) Emissions; and (ii) Law on the Tax on Import of Carbon-Intensive Products (the Laws). The public consultation will last for 20 days, and the Laws are expected to apply as of 1 January 2026. Below is a short overview of the main provisions of these Laws:

In the CEE region, law firms are facing a growing challenge: the legal profession is no longer as attractive to younger generations as it once was. Law school enrollment is declining, and those who do enter the field often question its long-term viability. The reasons are familiar: demanding studies, pressures of the job, long hours, slow progression, and increasing doubt about whether this is a profession that will remain relevant in the age of artificial intelligence.

Schoenherr Partner Igor Zivkovski, ZSP Advokati Partner Jelisaveta Stanisic, Karanovic & Partners Partner Maja Jovancevic Setka, and MMD Advokati Partner Rastko Malisic discuss how, after years of dormancy, Serbia’s exchanges and fund platforms are finally showing signs of life, as institutional and retail actors alike begin to test the waters. While trading volumes and liquidity remain modest, a growing consensus among policymakers and market participants suggests that the capital market’s long-awaited expansion may at last be underway.

At the 30-year mark, Karanovic & Partners Managing Partner Milos Vuckovic reflects on the firm’s early days, its evolution over the years, and its goals going forward.

The Ministry of Energy, Mining and Mineral Resources of North Macedonia (“Ministry”) has called for submission of initiatives to include energy projects in the 2026 Annual Plan for Construction of Energy Facilities for Production of Electric and Heat Energy and Storage of Electrical Energy (“Annual Plan”), implementing the new regulatory framework introduced by the recently enacted Energy Law.

The Macedonian government is drafting a new law to support individual investors, known as business angels, by formally defining their role and introducing tax incentives for their investments in startups. The regulation seeks to provide greater legal certainty, stimulate private investments, and encourage innovation-driven growth that would lead to new jobs and stronger competitiveness.

Albania has taken another decisive step toward harmonising its legislation with EU standards by releasing for public consultation a draft law “On Whistleblowing and the Protection of Whistleblowers”. The draft law closely follows Directive (EU) 2019/1937 and is expected to reshape how both public institutions and private entities handle reports of misconduct.

On 5 September 2025, the European Commission imposed a EUR 2.95 billion fine on Google for breaching EU competition rules in the online display advertising sector. The ruling is the result of a formal investigation initiated in June 2021, following a complaint from the European Publishers’ Council, which accused Google of systematically self-preferencing its own advertising services.

Freshfields, Oppenheim, and BDK Advokati have advised Continental and its ContiTech division on the sale of the Original Equipment Solutions business unit to US private holding company Regent. Taylor Wessing, Karanovic & Partners, Gen Temizer, and Stratulat Albulescu advised Regent. DR & AJU, Foley & Lardner, Gide Loyrette Nouel, Mori Hamada & Matsumoto, Felsberg Advogados, Cascione Advogados, and ECIJA reportedly advised Regent as well.

Filip & Company has advised ING Bank Romania, ING Bank N.V., and Raiffeisen Bank S.A. on a EUR 70 million financing for the La Fantana group with ING Bank Romania as the lead mandated arranger, bookrunner, coordinator, and initial lender, Raiffeisen Bank S.A. as the initial lender, and ING Bank N.V. as the agent and security agent.

With the recent launch of ChatGPT 5, OpenAI unveiled its most advanced and capable conversational AI to date, boasting significant improvements in contextual understanding, nuanced interaction, and generative fluency.

As of January 1, 2024, foreign companies without a physical presence in North Macedonia must appoint a tax representative when performing taxable transactions with local non-taxpayers. This requirement, established under the Law on Value Added Tax of North Macedonia (VAT Law), stands regardless of whether the general VAT registration threshold of MKD 2 million is achieved.

Ketler & Partners, member of Karanovic & Partners, has advised Mass on the sale of a 60% equity stake to Advance Capital Partners. Kavcic, Bracun & Partners reportedly advised ACP.