Business
A Belgrade landmark bombed by Nato could get Trump makeover
BBC Balkans correspondent
One of the first sights that greets arrivals to the centre of Serbia’s capital Belgrade are government buildings in an advance state of collapse. Nato planes bombed them back in 1999 – and they remain in much the same condition.
The message they deliver to visitors could be “welcome to Serbia, our recent history has been tumultuous and complicated – and we still haven’t quite finished processing it”.
Like a smile with a row of broken teeth, the Defence Ministry buildings are still standing. But they clearly took a serious hit when Nato intervened to stop Serbia’s then military campaign in Kosovo.
As a member of the Western military alliance, the US was implicated in the bombing.
Given that history, last year it came as something of a jolt for Serbians when the government struck a deal with a company called Affinity Global to redevelop the site into a $500m (£370m) luxury hotel and apartment tower complex.
Not just because the business concerned is American, but due to the fact its founder is Jared Kushner, best-known as Donald Trump’s son-in-law. And because the planned development is due to be called Trump Tower Belgrade.
While these has now been a major twist in the tale that puts the scheme in some doubt, the Serbian government’s decision to strike the deal wasn’t too surprising.
Before he became US president in 2016, Donald Trump himself expressed interest in building a hotel on the site.
The move also fits a government pattern – as alleged by the Serbian opposition – of allowing foreign investors to profit from public property.
They cite, as a prime example, the Belgrade Waterfront residential and retail project, constructed by Emirati developers on land owned by Serbia’s railways.
Where there used to be rusting rolling stock and derelict sidings, there is now a swish shopping centre, smart restaurants and the oddly bulbous, 42-storey Belgrade Tower. It is not to everyone’s taste.
That, however, was a brownfield site, rather than a city centre landmark. The Defence Ministry complex is an entirely different proposition – not least because it acts as a memorial to the casualties of the 1999 bombing campaign.
It is also a highly visual reminder of why the vast majority of Serbians remain opposed to Nato, and feel sympathetic towards Russia.
In that context, granting a US developer a 99-year lease on the site, reportedly for no upfront cost, is a bold move.
But Serbia’s president, Aleksandar Vucic, is unapologetic. “It’s important to overcome the burden from 1999,” he tells the BBC.
“We are ready to build better relations with the US – I think that is terribly important for this country.”
That view garners a degree of sympathy from Belgrade’s international business community.
Foreign direct investment inflows have more than tripled over the past decade. But GDP per capita remains low compared to EU member states. It stands at just one third of the bloc’s average.
To keep those figures moving in the right direction, attracting new investors is vital. And while the financial details of the Ministry of Defence development have not been revealed, the New York Times has reported that the Serbian government will get 22% of future profits.
“For a small and specific market – ex-Yugoslavia, outside the EU – all publicity is good publicity,” says James Thornley, a former senior partner at KPMG Serbia, who is now a partner at financial consultants KP Advisory in Belgrade.
“If you have major international players coming in, it’s a pull, it’s a draw. You’re getting the name and opportunity out there.”
Mr Thornley has lived in Serbia for 25 years and is fully aware of the sensitivities surrounding the Defence Ministry complex. But he believes that views would change once people saw the benefits of the development.
“That site is an eyesore and should be resolved,” he says. “Nothing’s happened for 26 years, let’s get it sorted out.”
But not everyone involved with international investment in Serbia is so enthusiastic.
Andrew Peirson was the managing director of global real estate giant CBRE in Southeast Europe, and now holds the same role at iO Partners, which focuses entirely on the region.
He admits that the shattered state of the Defence Ministry complex is “not good for the city’s image”, and that the deal to develop the site is “probably good news, because it shows the country can attract big investments”.
But he has serious qualms about how the government struck the deal with Affinity Global. Mr Peirson says that there was no open tendering process that would have allowed other firms to bid for the site.
“With state-owned land, you should be able to prove you’re getting market value for the site. The way you usually do that is to run a proper tender process,” says Mr Peirson.
“If it had been in UK, Germany, Hungary or even Romania or Bulgaria, there would have been a process; it would have gone through the open market. Developers that were looking to enter Serbia, or already active, would have been given the chance to buy it themselves.”
Back in 2023 Vucic said he met with Kushner and had an “excellent conversation” with Jared Kushner regarding the “potential for large and long-term investments.”
And Donald Trump Jr has since made follow up visits to Belgrade after Affinity Global announced that a Trump International Hotel would form part of the development. The role of Trump Jr and the family business is thought to be limited to the hotel.
Questions have been raised about the Trumps making commercial deals while Donald Trump is in the White House but his press secretary has rejected any suggestion he is profiting from the presidency.
Mr Peirson is concerned that the nature of the Ministry of Defence building deal may irk businesses which have already committed to Serbia.
“If I’m an investor already putting tens or hundreds of millions into the country, I would feel sad that I hadn’t been given the chance,” he says.
Both Affinity Global and the Serbian government did not respond to requests for comments about how the deal over the site was agreed, and whether or not there was an open tendering process.
Then there is the question of whether a commercial development should be taking place at all. The site, even in its current state, remains architecturally and historically significant.
The buildings were originally constructed to welcome visitors to the capital of Tito’s Socialist Federal Republic of Yugoslavia. Architect Nikola Dobrovic created two structures on either side of Nemanjina Street which, viewed together, took the form of a gate.
The design also echoes the contours of Sutjeska Gorge, the site of the Yugoslav Partisans’ pivotal victory over Nazi forces in 1943. And in 2005, it was granted protected status under Serbia’s cultural heritage laws.
“No serious city builds a modern future by demolishing its historical centres and cultural monuments,” says Estela Radonjic Zivkov, the former deputy director of Serbia’s Republic Institute for the Protection of Monuments.
“For Serbia to progress, it must first respect its own laws and cultural heritage,” she insists. “According to Serbian law, it is not possible to revoke the protection of this site.”
But just when it seemed the site’s fate was sealed, Serbian organised crime prosecutors delivered a twist worthy of a Hollywood thriller.
On 14 May, police arrested the official who had given the green light for the lifting of the Defence Ministry complex’s protected status.
Prosecutors said Goran Vasic, the acting director of the Republic Institute for the Protection of Cultural Monuments, had admitted to fabricating an expert opinion which had been used to justify the change of status. He faces charges of abuse of office and forgery of official documents.
This admission has been seized on by those opposed to the project as evidence Kushner got preferential treatment. The Serbian government denies this.
Where this leaves the Affinity Global project – Trump International Hotel and all – is not entirely clear.
Repeated efforts to arrange an interview with the company have been unsuccessful, though it did issue a statement insisting that Mr Vasic had “no connection to our firm”, adding that it would “review this matter and determine next steps”.
Vucic, meanwhile, denies there is any problem with the development. During a meeting of European leaders in Tirana, he said “there was not any kind of forgery”.
Still, it seems the Defence Ministry’s shattered visage will remain unchanged for a while at least. And thanks to the Trump connection, it will offer even more of a talking point for first-time visitors to Belgrade.
Business
AI video becomes more convincing, rattling creative industry
AI (Artificial Intelligence) letters and robot miniature in this illustration. The creative industry is concerned over the rapid developments in AI-generated videos. REUTERS/Dado Ruvic/Illustration/File Photo
NEW YORK, United States – Gone are the days of six-fingered hands or distorted faces — AI-generated video is becoming increasingly convincing, attracting Hollywood, artists, and advertisers, while shaking the foundations of the creative industry.
To measure the progress of AI video, you need only look at Will Smith eating spaghetti.
Since 2023, this unlikely sequence — entirely fabricated — has become a technological benchmark for the industry.
READ: How investments in reskilling, building trust can help Philippine firms navigate AI era
Two years ago, the actor appeared blurry, his eyes too far apart, his forehead exaggeratedly protruding, his movements jerky, and the spaghetti didn’t even reach his mouth.
The version published a few weeks ago by a user of Google’s Veo 3 platform showed no apparent flaws whatsoever.
“Every week, sometimes every day, a different one comes out that’s even more stunning than the next,” said Elizabeth Strickler, a professor at Georgia State University.
Between Luma Labs’ Dream Machine launched in June 2024, OpenAI’s Sora in December, Runway AI’s Gen-4 in March 2025, and Veo 3 in May, the sector has crossed several milestones in just a few months.
Runway has signed deals with Lionsgate studio and AMC Networks television group.
Lionsgate vice president Michael Burns told New York Magazine about the possibility of using artificial intelligence to generate animated, family-friendly versions from films like the “John Wick” or “Hunger Games” franchises, rather than creating entirely new projects.
“Some use it for storyboarding or previsualization” — steps that come before filming — “others for visual effects or inserts,” said Jamie Umpherson, Runway’s creative director.
Burns gave the example of a script for which Lionsgate has to decide whether to shoot a scene or not.
To help make that decision, they can now create a 10-second clip “with 10,000 soldiers in a snowstorm.”
That kind of pre-visualization would have cost millions before.
In October, the first AI feature film was released — “Where the Robots Grow” — an animated film without anything resembling live action footage.
For Alejandro Matamala Ortiz, Runway’s co-founder, an AI-generated feature film is not the end goal, but a way of demonstrating to a production team that “this is possible.”
‘Resistance everywhere’
Still, some see an opportunity.
In March, startup Staircase Studio made waves by announcing plans to produce seven to eight films per year using AI for less than $500,000 each, while ensuring it would rely on unionized professionals wherever possible.
“The market is there,” said Andrew White, co-founder of small production house Indie Studios.
People “don’t want to talk about how it’s made,” White pointed out. “That’s inside baseball. People want to enjoy the movie because of the movie.”
But White himself refuses to adopt the technology, considering that using AI would compromise his creative process.
Jamie Umpherson argues that AI allows creators to stick closer to their artistic vision than ever before, since it enables unlimited revisions, unlike the traditional system constrained by costs.
“I see resistance everywhere” to this movement, observed Georgia State’s Strickler.
This is particularly true among her students, who are concerned about AI’s massive energy and water consumption as well as the use of original works to train models, not to mention the social impact.
But refusing to accept the shift is “kind of like having a business without having the internet,” she said. “You can try for a little while.”
In 2023, the American actors’ union SAG-AFTRA secured concessions on the use of their image through AI.
Strickler sees AI diminishing Hollywood’s role as the arbiter of creation and taste, instead allowing more artists and creators to reach a significant audience.
Runway’s founders, who are as much trained artists as they are computer scientists, have gained an edge over their AI video rivals in film, television, and advertising.
But they’re already looking further ahead, considering expansion into augmented reality and virtual reality — for example creating a metaverse where films could be shot.
“The most exciting applications aren’t necessarily the ones that we have in mind,” said Umpherson. “The ultimate goal is to see what artists do with technology.”
Business
Three ways you can make AI generate business leads for you
For quite a while now, people within the business community have been talking about how AI continues to improve task efficiency and streamline operations, but few are truly exploring how this new era is affecting new business lead generation.
Since opening Agent99’s doors 18 years ago, part of my new business strategy has simply been to ask people how they found us. The majority of our leads come through referrals, followed by Google. However, just last week, I was on two new business calls and when I asked both prospects how they came across Agent99, they gave the same surprising response: “by asking ChatGPT”.
Where consumers and clients once relied on Google for recommendations, be it agencies, restaurants, dry cleaners, or anything in between, that’s no longer the default.
Today, people are entering these same queries into AI tools and expecting real-time, curated answers based on a mix of web data, reviews, and sentiment. And this shift has caught many business owners off guard. A high Google ranking no longer guarantees your business will be visible or recommended through AI platforms. All that work on your SEO strategy? It’s no longer the only game in town.
This was a light bulb moment for me as a business owner. If you’re not thinking about how you rank on AI platforms and prioritising this, you’re losing new business opportunities.
When I took a deeper look at why we were ranking so well on ChatGPT, and how this new kind of ‘search engine’ prioritises content, I realised (after some thorough research) that it’s because we’ve consistently focussed on our own PR (ie third party credible endorsement), winning awards, garnering reviews from our clients, and reporting on our marketing campaigns on our own website blog and social pages. This is what AI platforms prioritise when making recommendations.
So, if you’ve noticed a dip in leads lately or you simply want to boost your company’s visibility in the AI space, here are three strategies I strongly recommend.
Make your SEO plan AI-friendly
It’s no longer enough to optimise your company website for Google alone. Instead of short, Boolean-style search queries, people are now asking long-form, conversational questions. And in response, tools like ChatGPT are generating concise, curated answers drawn from a wide range of sources — with a clear preference for natural, human-sounding language.
It might seem ironic that AI prefers human content, but it’s the new reality.
To match this, we recommend rewriting key pages on your website, starting with your ‘About’, ‘Services’ and ‘Home’ pages, using language that mirrors how real people would ask for your services in everyday conversation.
For example, instead of writing: “We deliver integrated management solutions,” try: “We help Australian businesses develop management strategies that support sustainable growth”.
If relevant, start a blog that directly answers the kinds of questions people might be asking ChatGPT, and think carefully about how they’re asking them. Once you’ve mapped out your content strategy, commit to publishing consistently. AI platforms favour businesses that post regularly and demonstrate long-term authority in their field.
Prioritise earned media and content
AI tools place more weight on what others say about your business than what you say about yourself. So, while your website content is important, the next priority is securing earned media coverage. This includes article mentions in credible publications and thought leadership content in niche outlets relevant to your industry.
While the media landscape has evolved, organic coverage on high-authority platforms still carries serious influence. That includes local business media, trade publications, and long-form podcasts — especially those with strong digital footprints. A single mention in a well-respected outlet often holds more weight than a dozen paid ads in the eyes of AI.
You should also be submitting your business for awards, rankings, and “Best of” lists. Third-party recognition like “Top PR Agencies in Australia” or “Best Accountants in Melbourne” dramatically increases your chances of being recommended by AI tools for those search terms.
Lastly, make sure you’re actively collecting client testimonials and online reviews. Reach out to past and current clients and ask for a testimonial you can publish. Genuine, positive sentiment from others boosts your ranking and trust level within AI results.
Show up where conversations are happening
A lesser-known — but highly effective — way to improve your AI visibility is by showing up where your audience is already talking. Think Reddit, Quora, LinkedIn comments, Facebook groups, and even the comment sections of popular blogs or YouTube videos. AI tools are constantly crawling and learning from these conversations, and businesses that participate meaningfully often see a lift in visibility.
Start by choosing two or three platforms where your target audience is most active. If you’re B2B, this might be LinkedIn or industry forums. If you’re more consumer-facing, Reddit, TikTok, or Facebook might be the place. Jump in, answer questions, share your perspective, and most importantly, offer value.
When your brand is mentioned organically or involved in high-engagement threads, it sends strong signals to AI tools. Over time, this can help position your business as a credible authority in your space.
Also, respond to users who tag or mention your brand on social platforms. Engaging with user-generated content builds trust, encourages loyalty, and creates digital breadcrumbs that prove your relevance and responsiveness — two factors that AI prioritises more than ever.
AI isn’t just a trend; it’s a fundamental shift in how consumers discover and choose businesses.
Rather than fearing this new giant in the room, lean in. By understanding how AI platforms work and proactively shaping your digital footprint, you’ll improve your ability to attract quality leads, earn recommendations, and strengthen your brand presence in what’s becoming an increasingly competitive and complex market.
Business
Maternity brand Seraphine worn by Kate enters administration
The maternity fashion retailer Seraphine, whose clothes were worn by the Princess of Wales during her three pregnancies, has ceased trading and entered administration.
Consultancy firm Interpath confirmed to the BBC on Monday that it had been appointed as administrators by the company and that the “majority” of its 95 staff had been made redundant.
It said the brand had experienced “trading challenges” in recent times with sales being hit by “fragile consumer confidence”.
The fashion retailer was founded in 2002, but perhaps hit its peak when Catherine wore its maternity clothes on several occasions, leading to items quickly selling out.
Prior to the confirmation that administrators had been appointed, which was first reported by the Financial Times, Seraphine’s website was offering discounts on items as big as 60%. Its site now appears to be inaccessible to shoppers.
The main job of administration is to save the company, and administrators will try to rescue it by selling it, or parts of it. If that is not possible it will be closed down and all its saleable assets sold.
Will Wright, UK chief executive of Interpath, said economic challenges such as “rising costs and brittle consumer confidence” had proved “too challenging to overcome” for Seraphine.
Interpath said options are now being explored for the business and its assets, including the Seraphine brand.
The retailer’s flagship store was in Kensington High Street, London, but other well-known shops, such as John Lewis and Next, also stocked its goods.
The rise in popularity of Seraphine, driven in part by Royalty wearing its clothes, led to the company listing on the London Stock Exchange in 2021, before being taking back into private ownership in 2023.
Interpath said in April this year, the company “relaunched its brand identity, with a renewed focus on form, function and fit”.
“However, with pressure on cashflow continuing to mount, the directors of the business sought to undertake an accelerated review of their investment options, including exploring options for sale and refinance,” a statement said.
“Sadly, with no solvent options available, the directors then took the difficult decision to file for the appointment of administrators.”
Staff made redundant as a result of the company’s downfall are to be supported making claims to the redundancy payments service, Interpath added.
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