NOTIZIARIO DEL 04.03.2008

* ALBANIA *

GDP Growth in SEE To Quicken in 2009-2010 after 2008 Dip – WIIW Mar 04, 2008, 12:18 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) – The economic growth of Southeast Europe is expected to quicken to up to 6.0% in 2009 and 2010 after a slight dip in 2008, the Vienna Institute for International Economic Studies (WIIW) said. link

Albania, UNDP Sign $3.42 Mln Dutch Funded Environmental Projects Mar 04, 2008, 12:59 CET | Story | SeeNews TIRANA (Albania), March 4 (SeeNews) - Albania and the U.N. Development Programme (UNDP) have signed two environmental protection projects financed by the Dutch government and worth a combined $3.42 million (2.24 million euro), UNDP, which manages the projects, has said. link

Albania, World Bank Sign $950,000 Grant Deal To Support Start of Dam Safety Project Mar 04, 2008, 13:22 CET | Story | SeeNews TIRANA (Albania), March 4 (SeeNews) - Albania and the World Bank on Tuesday signed a $950,000 (625,000 euro) grant deal to support the preparation of an Energy Community of South East Europe (ECSEE) project on dam safety. link

Albania Plans To Sell 51% to 76% of Distribution Unit of Power Utility KESH Mar 04, 2008, 13:52 CET | Story | SeeNews TIRANA (Albania), March 4 (SeeNews) - Albania will offer for sale a majority stake in the electricity distribution unit of its power utility company KESH under a draft law adopted by the government. link

Albania To Open International Tender for Hydropower Plant Construction This Month Mar 04, 2008, 15:04 CET | Story | SeeNews TIRANA (Albania), March 4 (SeeNews) - Albania will open an international tender for the construction of a hydropower plant this month, the Energy Ministry said. link

* BOSNIA *

GDP Growth in SEE To Quicken in 2009-2010 after 2008 Dip – WIIW Mar 04, 2008, 12:18 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) – The economic growth of Southeast Europe is expected to quicken to up to 6.0% in 2009 and 2010 after a slight dip in 2008, the Vienna Institute for International Economic Studies (WIIW) said. link

Bosnian Hydropower Plant Group Drina 2007 Net Profit Falls 73% - Table Mar 04, 2008, 10:03 CET | Story | SeeNews BANJA LUKA (Bosnia and Herzegovina), March 4 (SeeNews) - Bosnian hydropower plant group Drina posted a net profit of some 895,000 marka ($697,000/459,000 euro) for last year, down from 3.32 million marka in 2006, as revenue fell faster than costs, figures showed on Tuesday. link

Bosnia’s Modrica Oil Refinery 2007 Net Profit Rises Almost Nine Times - Table Mar 04, 2008, 10:06 CET | Story | SeeNews BANJA LUKA (Bosnia and Herzegovina), March 4 (SeeNews) – The 2007 net profit of Bosnian oil refinery Modrica rose almost nine times last year to 1.23 million marka ($958,000/631,000 euro), as revenue grew faster than costs, figures showed on Tuesday. link

Bosnian Hydropower Plant Group Trebisnjica Turns to Loss in 2007 - Table Mar 04, 2008, 10:10 CET | Story | SeeNews BANJA LUKA (Bosnia and Herzegovina), March 4 (SeeNews) - Bosnian hydropower plant group Trebisnjica turned to a loss of 13.30 million marka ($10.36 million/6.82 million euro) last year, from a net profit of 2.46 million marka in 2006, as revenue fell faster than costs, figures showed on Tuesday. link

Bosnian Serb Railways Company Cuts Loss by 12% in 2007 - Table Mar 04, 2008, 10:43 CET | Story | SeeNews BANJA LUKA (Bosnia and Herzegovina), March 4 (SeeNews) - Bosnian Serb railway company Zeljeznice Republike Srpske cut its 2007 loss to 13.79 million marka ($10.74 million/7.07 million euro) from 15.68 million marka the previous year, figures showed on Tuesday. link

Bosnia Schedule of Events – Mar 4 - May 9 Mar 04, 2008, 09:31 CET | Story | SeeNews SARAJEVO (Bosnia and Herzegovina), March 4 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Bosnia and Herzegovina through May 9. New or amended entries are marked (*). link

* BULGARIA *

GDP Growth in SEE To Quicken in 2009-2010 after 2008 Dip – WIIW Mar 04, 2008, 12:18 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) – The economic growth of Southeast Europe is expected to quicken to up to 6.0% in 2009 and 2010 after a slight dip in 2008, the Vienna Institute for International Economic Studies (WIIW) said. link

BSE - Daily Bulletin, Selected Announcements - Feb 29, 2008 Mar 04, 2008, 09:02 CET | Specialists Reports | SeeNews At the extraordinary General Meeting of Shareholders of Blagoevgrad-BT Inc-Blagoevgrad, BSE code - BLABT, held on 28.02.2008, have been taken the following decisions:- Changes within the management bodies of the company:Discharge of Katya Nikolova Dimitrova from the Board of DirectorsElection of Nikola Evtimov Atanasov as a member of the Board of Directors link

Bulagrian Banks’ Jan Total Assets Rise 38.2% Y/Y - Table Mar 04, 2008, 11:55 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) - The assets of Bulgarian commercial banks totalled 57.015 billion levs ($44.3 billion/29.2 billion euro) at the end of January, up 38.2% from a year earlier, central bank data showed on Tuesday. link

Bulgarian Investment Company Holding Varna 2007 Cons Net Profit Rises 3.6 Times – Table Mar 04, 2008, 12:10 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) - Bulgarian investment company Holding Varna on Tuesday said its 2007 consolidated net profit was 5.5 million levs ($4.3 million/2.8 million euro), 3.6 times higher than a year earlier, despite a 53% drop in sales. link

Serbia Gets One Bid for Sale of Ceramic Tubes, Sanitaryware Manufacturer Keramika Mar 04, 2008, 13:15 CET | Story | SeeNews BELGRADE (Serbia), March 4 (SeeNews) – Serbia has received one bid for the sale of a 62.83% state stake in ceramic tubes and sanitaryware manufacturer Keramika, the country’s Privatisation Agency said on Tuesday. link

Bulgaria Produces 2.0 Mln Hectolitres of Wine in 2007, Exports 1.2 Hectolitres Mar 04, 2008, 13:30 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) - Bulgaria produced some 2.0 million hectolitres of wine and exported about 1.2 million hectolitres last year, data of the National Vine and Wine Chamber (NVWC) showed. link

Bulgarian Power Plant Maritsa East II Exceeds Feb Output Target by 1.1% Mar 04, 2008, 13:39 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) - Bulgaria’s largest coal-fired power plant Maritsa East II said on Tuesday it has exceeded its February output target of 634,000 megawatthours (MWh) by 1.1%. link

CORRECTED - Bulgaria Produces 2.0 Mln Hectolitres of Wine in 2007, Exports 1.2 Mln Hectolitres Mar 04, 2008, 13:56 CET | Story | SeeNews In SOFIA story "Bulgaria Produces 2.0 Mln Hectolitres of Wine in 2007, Exports 1.2 Hectolitres" please read in the headline "...Exports 1.2 Mln Hectolitres" (adds dropped word) link

INTERVIEW – Bulgarian Insurer DZI Sees Market Share in Life, Non-Life Segments Rising in Medium Term Mar 04, 2008, 16:11 CET | Interview | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) – Bulgarian insurer DZI, majority-owned by Belgium’s KBC, plans to increase its market share in both the life and non-life segments in the medium term, as unit linked products and synergies within the group are expected to boost its performance, a senior DZI official said. link

Czech CEZ Net Profit from Bulgarian Operations Rises 9.0% to 40.9 Mln Euro in 2007 Mar 04, 2008, 18:20 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) - Czech power utility CEZ said on Tuesday its net profit from operations in Bulgaria rose nine percent to 80 million levs ($62.3 million/40.9 million euro) last year. link

Bulgaria’s Jan Budget Surplus Rises Almost Five Times Y/Y to 225.2 Mln Euro - Table Mar 04, 2008, 10:59 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) - Bulgaria had a consolidated budget surplus of 440.4 million levs ($342 million/225.2 million euro), at the end of January, almost five times higher than a year earlier, Finance Ministry data showed on Tuesday. link

Bulgaria C-bank End-Feb Dues and Equity Rise to 2.14 Bln Euro - Table Mar 04, 2008, 16:43 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) - Total liabilities and equity of the Bulgarian National Bank’s (BNB) Banking Department were equivalent to 4.195 billion levs ($3.27 billion/2.14 billion euro) at the end of February, up 2.1% from a month earlier, central bank figures showed on Tuesday. link

Bulgarian NSI - Producer Price Indices - Jan 2008 Mar 04, 2008, 16:48 CET | State Agencies Reports | SeeNews Bulgarian National Statistical Institute has published its monthly report on producer price indices in 2008. link

Bulgaria To Auction 35 Mln Levs in 10-Yr T-Notes March 10 Mar 04, 2008, 16:52 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) - Bulgaria’s central bank will auction on Monday 35 million levs ($27.2 million/17.9 million euro) in 10-year fixed-rate Treasury notes which are expected to attract huge investor interest, dealers said on Tuesday. link

Bulgaria C-Bank FX Reserves Up 0.8% in Week to Feb 29 - Table Mar 04, 2008, 16:54 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) - The foreign exchange assets of the Bulgarian central bank’s Issue Department totalled 22.8 billion levs ($17.7 billion/11.7 billion euro) on February 29, up 0.8% from a week earlier, central bank data indicated on Monday. link

Karoll - Bulgarian Stock Market Overview - Feb 25 - 29, 2008 Mar 04, 2008, 12:44 CET | Broker’s Report | SeeNews Commentary link

Elana - BSE-Sofia Weekly Overview - Feb 29, 2008 Mar 04, 2008, 13:40 CET | Broker’s Report | SeeNews Market TrendThe market continued to rove between positive and negative territory during the week in light volumes and weak investors’ interest. The 4Q 2007 consolidated financial results couldn’t move the activity as the participants preferred to stay aside from the market and to wait for some positive news to break the process of consolidation. The picture at the spring of 2007 was similar when IPOs and 30% correction made investors too cautious to respond to the positive earning reports. SOFIX added 1.15% on weekly basis as well as BG40. Both indices were supported by most of their components on Friday’s session. BSE managed to break the strong correlation with international markets and indices were flat despite the turmoil in US and Europe. We see this as a positive sign and we don’t expect much pain on the downside. link

Bulgarian Stock Indices Mostly Drop as Sellers Prevail Mar 04, 2008, 15:32 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) - Bulgarian stock indices ended mostly lower on Tuesday as sellers were more active than buyers and in a portfolio-restructuring mood, brokers said. link

FFBH - Bulgaria Weekly Update - Feb 25 - 29, 2008 Mar 04, 2008, 16:37 CET | Broker’s Report | SeeNews MARKET WRAP-UP link

Bulgaria Schedule of Events - March 4 - Nov 25 Mar 04, 2008, 09:06 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Bulgaria through November 25. New or amended entries are marked (*). link

* CROAZIA *

GDP Growth in SEE To Quicken in 2009-2010 after 2008 Dip – WIIW Mar 04, 2008, 12:18 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) – The economic growth of Southeast Europe is expected to quicken to up to 6.0% in 2009 and 2010 after a slight dip in 2008, the Vienna Institute for International Economic Studies (WIIW) said. link

IMF Urges Croatia To Address Vulnerabilities by Prudent Spending, Structural Reforms Mar 04, 2008, 18:00 CET | Story | SeeNews ZAGREB (Croatia), March 4 (SeeNews) – The International Monetary Fund (IMF) on Tuesday urged Croatia to address external and financial vulnerabilities by prudent spending and structural reforms. link

D&B Upgrades Croatia to DB3c on Government’s Reformist Agenda Mar 04, 2008, 12:55 CET | Story | SeeNews ZAGREB (Croatia), March 4 (SeeNews) - Business information provider D&B on Tuesday said it has upgraded Croatia’s risk rating to DB3c from DB3d to reflect the Croatian government’s commitment to continue the reforms needed for the country’s entry in the European Union (EU). link

Croatia’s Central Govt Budget Has 2.871Bln Kuna (395 Mln Euro) Surplus in Jan-Nov Mar 04, 2008, 12:50 CET | Story | SeeNews ZAGREB (Croatia), March 4 (SeeNews) - Croatia’s central government ran a budget surplus of 2.871 billion kuna ($601million/395million euro) in the first 11 months of 2007, Finance Ministry data showed on Tuesday. link

Croatian Share Indices Fall in Low Liquidity, Podravka Surges Mar 03, 2008, 19:08 CET | Story | SeeNews ZAGREB (Croatia), March 3 (SeeNews) - Croatian share indices fell in a declining liquidity on Monday, while the price of food producer Podravka surged on media reports that a minority shareholder had decided to boost its stake, brokers said. link

Erste Securities - Croatian Equity Daily - Mar 3, 2008 Mar 04, 2008, 12:46 CET | Broker’s Report | SeeNews Highlights: link

FIMA Stock Monitor - Daily - Mar 3, 2008 Mar 04, 2008, 13:16 CET | Broker’s Report | SeeNews Daily comment:Domestic capital market opened in red and stayed there for the whole day ending with loss of 0,8% and collecting HRK 50,7 million in turnover. During the weekend, leading Croatian newspapers published report stating that Varazdin based financial group FIMA plans to acquire 25% stake in Koprivnica based food producer Podravka (PODR-R-A). FIMA currently holds 10,64% stake in Podravka and is, according to newspapers, ready to get onto debt to finance purchase of additional 13,4% of the shares on the market. Investors quickly reacted and Podravka’s price increased by 8,5% today to close at HRK 423 collecting HRK 2 million turnover. Confectionary producer Kras (KRAS-R-A) and wholesale chain Metro Cash&Carry agreed upon future partnership regarding the export of Kras products on Russian market. Kraš is working extensively to enter new markets and in order to strengthen its export position, the Co gained product HALAL certificate. During last year, the Co delivered 3000 tones to Saudi Arabian and neighboring markets, and due to certificate product mix will be enhanced. As HALAL products are currently one of eight most significantly growing trends in food industry and as HALAL market was the fastest growing in the preceding years with the estimated value of cca EUR 550 billion, increased sale potential on those markets is notable. Construction engineering company Ingra (INGR-R-A) informed Zagreb Stock Exchange that it announced a takeover bid for Macedonian construction company GP Mavrovo. Ingra share declined by 2,5% today collecting HRK 2,3 million in turnover. link

Erste Securities - Croatian Equity Daily - Mar 4, 2008 Mar 04, 2008, 13:36 CET | Broker’s Report | SeeNews Highlights: link

FIMA - Weekly Report - Feb 25 - 29, 2008 Mar 04, 2008, 16:40 CET | Broker’s Report | SeeNews Macroeconomics link

Croatian Share Indices Gain Ground in Low Liquidity Mar 04, 2008, 18:39 CET | Story | SeeNews ZAGREB (Croatia), March 4 (SeeNews) - Croatian share indices gained ground on Tuesday as liquidity slightly improved but remained thin, brokers said. link

Croatia Schedule of Events – Mar 4 – May 15 Mar 04, 2008, 09:22 CET | Story | SeeNews ZAGREB (Croatia), March 4 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Croatia through May 15. New or amended entries are marked (*). link

Croatia Sells T-Bills Above Target, Yields Rise Mar 04, 2008, 13:34 CET | Story | SeeNews ZAGREB (Croatia), March 4 (SeeNews) - Croatia’s Finance Ministry sold 344 million kuna ($72.02 million/ 47.31 million euro) in three Treasury bill issues on Tuesday, above its target amount of 200 million kuna, as yields rose. link

* MACEDONIA *

GDP Growth in SEE To Quicken in 2009-2010 after 2008 Dip – WIIW Mar 04, 2008, 12:18 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) – The economic growth of Southeast Europe is expected to quicken to up to 6.0% in 2009 and 2010 after a slight dip in 2008, the Vienna Institute for International Economic Studies (WIIW) said. link

Macedonian Metals Producer RZ Institut 2007 Prelim Net Profit Up 37.1% - Table Mar 04, 2008, 12:33 CET | Story | SeeNews SKOPJE (Macedonia), March 4 (SeeNews) - Macedonian metals producer RZ Institut on Tuesday reported a 37.1% rise in preliminary net profit to 19.432 million denars ($478,600/315,000 euro) for 2007 mainly thanks to higher output. link

Macedonian Builder ADG Mavrovo’s Prelim 2007 Net Loss More Than Six Times 2006 Level - Table Mar 04, 2008, 13:17 CET | Story | SeeNews SKOPJE (Macedonia), March 4 (SeeNews) - Macedonian construction company ADG Mavrovo on Tuesday reported a preliminary net loss of 117.451 million denars ($2.9 million/1.9 million euro) for 2007, more than six times its loss of 18.688 million a year earlier. link

MACEDONIA’S FEB CPI RISES 0.8% M/M, UP 9.6% Y/Y - STATS OFFICE Mar 04, 2008, 13:27 CET | Alert | SeeNews link

Macedonia’s February Inflation Speeds to 0.8% M/M - Table Mar 04, 2008, 13:58 CET | Story | SeeNews SKOPJE (Macedonia), March 4 (SeeNews) - Macedonia’s February consumer price index (CPI) rose by 0.8% month-on-month, after rising by a monthly 1.6% in January, the State Statistical Office said on Tuesday. link

CORRECTED - Macedonia’s February Inflation Slows to 0.8% M/M - Table Mar 04, 2008, 15:34 CET | Story | SeeNews In SKOPJE story "Macedonia’s February Inflation Speeds to 0.8% M/M - Table", please read in the headline “… Slows to 0.8% M/M - Table” (corrects word) link

* MOLDOVA *

Moldova Earns 59.7 Mln Lei (3.5 Mln Euro) from Sale of Its Stakes in 13 Companies Mar 04, 2008, 11:36 CET | Story | SeeNews CHISINAU (Moldova), March 4 (SeeNews) – Moldova on Tuesday received 59.7 million lei ($5.4 million/3.5 million euro) from the sale of the state-owned stakes in 13 companies on the Moldovan Stock Exchange (BVM), the bourse said. link

Moldovan Banks End-January Assets Up 40% Mar 04, 2008, 13:17 CET | Story | SeeNews CHISINAU (Moldova), March 4 (SeeNews) - Moldovan banks had 32.9 billion lei ($3.0 billion/2.0 billion euro) in assets at the end of January, up 40% from a year earlier, the country’s central bank, BNM, said on Tuesday. link

Moldova’s Transdniestria Jan Industrial Output Up 29% Mar 04, 2008, 12:08 CET | Story | SeeNews CHISINAU (Moldova), March 4 (SeeNews) - The industrial output of Moldova’s breakaway region of Transdniestria rose by an annual 29% in January, Transdniestria’s Economy Ministry said on Tuesday. link

Yields Fall on 12-Mo, 6-Mo Moldovan T-bills, Rise on 3-Mo T-bills Mar 04, 2008, 15:56 CET | Story | SeeNews CHISINAU (Moldova), March 4 (SeeNews) - The Moldovan central bank, BNM, on Tuesday sold 53 million lei ($4.8 million/3.2 million euro) in three Treasury bill issues as yields rose on the three-month issue but fell on the six-month and one-year issues. link

Moldova Schedule of Events - March 4 - May 15 Mar 04, 2008, 10:27 CET | Story | SeeNews CHISINAU (Moldova), March 4 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in, or related to Moldova through May 15. New or amended entries are marked (*) link

* MONTENEGRO *

GDP Growth in SEE To Quicken in 2009-2010 after 2008 Dip – WIIW Mar 04, 2008, 12:18 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) – The economic growth of Southeast Europe is expected to quicken to up to 6.0% in 2009 and 2010 after a slight dip in 2008, the Vienna Institute for International Economic Studies (WIIW) said. link

Montenegro Schedule of Events – March 4 - May 15 Mar 04, 2008, 10:50 CET | Story | SeeNews PODGORICA (Montenegro), March 4 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in, or related to, Montenegro through May 15. New or amended entries are marked (*). link

* ROMANIA *

GDP Growth in SEE To Quicken in 2009-2010 after 2008 Dip – WIIW Mar 04, 2008, 12:18 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) – The economic growth of Southeast Europe is expected to quicken to up to 6.0% in 2009 and 2010 after a slight dip in 2008, the Vienna Institute for International Economic Studies (WIIW) said. link

Romania January Tourist Numbers Rise 6.9% Y/Y - Table Mar 04, 2008, 09:29 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - The number of tourists in Romania in January rose by 6.9% on the year to 383,400 and overnights increased by 5.1% to almost 855,000, the country’s statistics board, INS, said on Tuesday. link

British Insurer Aviva’s Romanian Unit 2007 Gross Premium Income Rises 30% to 83 Mln Lei (22.24 Mln Euro) Mar 04, 2008, 12:22 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - Aviva Romania, part of British insurance group Aviva, on Tuesday reported a 30% rise in its 2007 gross premium income to 83 million lei ($33.8 million/22.24 million euro). link

Intl Broadcaster CME’s 2007 EBITDA in SEEurope Up 43% - Table Mar 04, 2008, 13:13 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - International TV broadcaster Central European Media Enterprises (CME) has said its earnings before interest, tax, depreciation and amortisation (EBITDA) from operations in southeastern Europe rose to $101.97 million (67.12 million euro) in 2007 from $71.29 million a year earlier. link

Romanian IT Group Flamingo Sees 2008 Net Profit Almost Five Times 2007 Level at 2.6 Mln Euro Mar 04, 2008, 15:36 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - Romanian information technology group Flamingo International said on Tuesday it aims to boost its net profit to some 2.6 million euro ($3.95 million) this year, nearly five times 2007’s preliminary 528,000 euro. link

Shareholders Agree Romanian Oil/Gas Equipment Maker Armax Gaz’s Share Buyback Plan Mar 04, 2008, 16:35 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - Shareholders in Romanian oil and gas equipment manufacturer Armax Gaz approved its plans to buy back up to 10% of its shares in the next year-and-a-half under a scheme to distribute its stock among employees, the company said on Tuesday. link

Romanian Rail Workers To Halt Traffic for Two Hours on Wednesday in Pay Claim Mar 04, 2008, 17:03 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - Workers at state-owned Romanian railways company CFR said they will halt railroad traffic on Wednesday between 7 and 9 a.m. (0500-0700 GMT) to demand a pay rise that is higher than the one proposed by the government. link

Romanian Insurer Asirom Seeks 185.9 Mln Lei (50 Mln Euro) in Rights Issue Mar 04, 2008, 18:17 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - Romanian insurer Asirom, majority owned by Austria’s Vienna Insurance Group, said on Tuesday it will seek some 185.9 million lei ($75.9 million/49.9 million euro) in a rights issue. link

ROMANIA’S 2007 GDP UP REAL 6.0% TO ESTIMATED 404.7 BLN LEI (108.5 BLN EURO) - STATS BOARD Mar 04, 2008, 08:57 CET | Alert | SeeNews link

ROMANIA’S Q4 GDP UP REAL 6.6% Y/Y TO ESTIMATED 137.8 BLN LEI (37 BLN EURO) - STATS BOARD Mar 04, 2008, 08:57 CET | Alert | SeeNews link

Romania’s 2007 GDP Grows by Real 6.0% to Estimated 404.7 Bln Lei (108.5 Bln Euro) Mar 04, 2008, 09:13 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - Romania’s gross domestic product (GDP), computed in current prices, reached an estimated 404.7 billion lei ($164.6 billion/108.5 billion euro) in 2007, up by a real 6.0% from the previous year and slightly above analyst forecasts, data from the country’s statistics board, INS, showed on Tuesday. link

UPDATE 1 - Romania’s 2007 GDP Grows by Real 6.0% to Estimated 404.7 Bln Lei (108.5 Bln Euro) Mar 04, 2008, 10:20 CET | Story | SeeNews (adds analyst comments) link

Raiffeisen Capital & Investment - Flash News: Romania’s GDP growth above market expectations - Mar 4, 2008 Mar 04, 2008, 13:33 CET | Broker’s Report | SeeNews The National Institute of Statistics (INSSE) has released the 2007 GDP growth data. Romania’s economy grew by 6% yoy in 2007, above our forecasts of 5.5% as well as above the market consensus of 5.7%. Thus, the GDP amounted to EUR 121.3 bn. The economic growth accelerated in the last quarter (6.6% yoy versus 5.8% yoy at end-September 2007). INSSE has not released yet the breakdown of GDP by sectors, however, according to the representatives of the Government’s Forecasting Body, services and investments led most probably to higher than expected growth in 4Q 07. On the other hand, a certain surprise might come from the agricultural sector, which might have performed better than expected. For 2008, we forecast a GDP growth of 5.5%. link

ROMANIA’S JAN INDUSTRIAL PPI RISES 13.03% Y/Y, UP 2.33% M/M - STATS BOARD Mar 04, 2008, 09:15 CET | Alert | SeeNews link

Romania’s Jan Industrial PPI Rises 13.03% Y/Y, Up 2.33% M/M - Table Mar 04, 2008, 09:24 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - Romania’s January producer price index (PPI) for the industrial sector rose by 13.03% year-on-year and was 2.33% higher on the month, the country’s statistics board, INS, said on Tuesday. link

Romania’s Jan-Feb Consolidated Budget Revenue Rises 56.9% Y/Y Mar 04, 2008, 11:44 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - Romania’s consolidated budget revenue for the first two months of 2008 rose by 56.9% on the year in nominal terms to 25.59 billion lei ($10.44 billion/6.87 billion euro), Finance Ministry data showed on Tuesday. link

Ieba Trust - Romanian Market Daily - Feb 29, 2008 Mar 04, 2008, 12:42 CET | Broker’s Report | SeeNews The third consecutive day of declines for the BSE indices link

Raiffeisen Capital & Investment - Investment Daily Romania - Mar 3, 2008 Mar 04, 2008, 12:47 CET | Broker’s Report | SeeNews Trader’s Comment link

KD Capital Management - Bucharest Stock Exchange - Weekly Report - Feb 25 - 29, 2008 Mar 04, 2008, 13:06 CET | Broker’s Report | SeeNews 1. STOCK EXCHANGE OVERVIEW link

Ieba Trust - Romanian Market Daily - Mar 3, 2008 Mar 04, 2008, 13:17 CET | Broker’s Report | SeeNews New declines for the BSE indices link

Ieba Trust - Romanian Market Weekly - Feb 25 - 29, 2008 Mar 04, 2008, 13:19 CET | Broker’s Report | SeeNews 1A. Bucharest Stock Exchange Indicators link

Raiffeisen Capital & Investment - Investment Daily Romania - Mar 4, 2008 Mar 04, 2008, 13:29 CET | Broker’s Report | SeeNews Watchlist link

Confident Invest - Weekly Update - Feb 29, 2008 Mar 04, 2008, 14:14 CET | Broker’s Report | SeeNews AbstractFed’s chief testimony before the Congress indicates economic growth as a bigger concern as compared to inflation, thus confirming expectations for a new rate cut on March 18. In fact, the message in Bernanke’s testimony does not differ from the same opinions expressed one or even two months ago. This should not be viewed as a surprise, as we’ve also anticipated a 9 to 12 months period before any sign of recovery from the present market imbalances appears. Some differences exist, however, and theyconsist in analysts’ opinions, those expressed by media and the attitude embraced by investors in general. Indeed, the crisis is accepted and negative reports are already expected in some extent, so that surprises stand a higher chance to be positive ones. It is, however, to early to consider this adjusting period as shorter than previously expected. Moreover, tough times are just approaching with the already priced-in tax cut on March. After this date, Fed will find i ts ammunition seriously diminished for its continuing psychological warfare to bring confidence back to markets. Also, Fed will also have to deal to a more substantial threat imposed by inflation. In fact, the Institution can continue cutting rates to fight recession only if inflation naturally ceases to pose a threat due to slowing economic growth. This painfully slow process is likely to complicate Fed’s decisions in a matter of months, and these difficulties could easily reflect in markets’ higher volatility and a gloomier background for local markets as BSE as well. However, readings on inflation should offer more insight on a possible growth stabilization later this summer, and it’s those reading that should attract maximum attention.Although the overall market should not bring out optimism, avoiding some particular investments for others instead for investing on indices structure could still offer superior returns. For instance, oil prices might point to diversif ied oil companies that might pull out strong gains this year. In t same time those dealing only in oil refining and marketing might pass through a rough period. The strong evolution in crediting for the main player in banking market – BCR, might offer precious insight on the reasons for which BRD’s share of the market was reduced. Investment companies will keep their correlation high with foreign markets, but Shareholder’s Meetings might bring important changes that could boost prices to make up for the relative undervaluation compared to their holdings. Finally, the two IPO’s could have offered additional investment opportunities, if only the size was larger, the attractiveness higher and the timing better, otherwise additional cautiousness would be better. Similarly, investments highly dependent on Government’s decision (Antibiotice, Automobile Craiova) bring additional risks, in a market where, at this time, risk is at its highest.Last weekLast week BET and BET-C gained 1.91 and 1.49 percent, respectively, while BET-FI went up 4 .21 percent. The average trading volume gained 63% to 47.4 million lei daily, while the market capitalization went up 2.7 percent to 116.47 billion lei. link

Romanian Bourse Recovers on Strong GDP Data in Low Liquidity Mar 04, 2008, 16:25 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - Romanian share indices recovered in low liquidity on Tuesday following four days of losses, helped by data showing strong Romanian economic growth for last year, brokers said. link

Romania Schedule of Events - Mar 4 - May 15 Mar 04, 2008, 08:53 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Romania through May 15. New or amended entries are marked (*). link

Romanian Leu Remains Flat vs Euro Helped by Positive GDP Growth Data Mar 04, 2008, 16:44 CET | Story | SeeNews BUCHAREST (Romania), March 4 (SeeNews) - The Romanian leu ended at the 3.73-per-euro mark on Tuesday, maintaining its closing level from a day earlier as better-than-expected gross domestic product (GDP) growth data kept it from depreciating, dealers said. link

* SERBIA *

GDP Growth in SEE To Quicken in 2009-2010 after 2008 Dip – WIIW Mar 04, 2008, 12:18 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) – The economic growth of Southeast Europe is expected to quicken to up to 6.0% in 2009 and 2010 after a slight dip in 2008, the Vienna Institute for International Economic Studies (WIIW) said. link

Serbia Targets Up to 7.0% Growth, Inflation, 4.0% Rise in Industrial Output This Year – Deputy PM Mar 03, 2008, 19:16 CET | Story | SeeNews BELGRADE (Serbia), March 3 (SeeNews) – Serbia aims to achieve up to 7.0% growth in gross domestic product and an inflation rate of a similar amount in 2008, as well as a 4.0% increase in industrial production, Deputy Prime Minister Bozidar Djelic said on Monday. link

Serbia Gets One Bid for Sale of Ceramic Tubes, Sanitaryware Manufacturer Keramika Mar 04, 2008, 13:15 CET | Story | SeeNews BELGRADE (Serbia), March 4 (SeeNews) – Serbia has received one bid for the sale of a 62.83% state stake in ceramic tubes and sanitaryware manufacturer Keramika, the country’s Privatisation Agency said on Tuesday. link

SERBIA’S JAN INDUSTRIAL PPI UP 2.6% M/M VS 1.0% M/M RISE IN DEC - STATS OFFICE Mar 04, 2008, 11:29 CET | Alert | SeeNews link

Serbia’s Jan Industrial Producer Prices Up 2.6% M/M - Table Mar 04, 2008, 11:33 CET | Story | SeeNews BELGRADE (Serbia), March 4 (SeeNews) - Serbia’s January producer prices for the industrial sector rose by 2.6% from a month earlier and were 11% higher on the year, the country’s statistics office said on Tuesday. link

Vojvodjanska Banka - Daily Vobnews - Mar 3, 2008 Mar 04, 2008, 12:57 CET | Broker’s Report | SeeNews Vojvodjanska banka released its Daily Vobnews Report for March 3, 2008 containing the following charts and tables: link

Sinteza Investment Group - Weekly Market WrapUp, Feb 25 - 29, 2008 Mar 04, 2008, 13:10 CET | Broker’s Report | SeeNews Key Interest Rate at 11,5% link

Vojvodjanska Banka - Daily Vobnews - Mar 4, 2008 Mar 04, 2008, 13:31 CET | Broker’s Report | SeeNews Vojvodjanska banka released its Daily Vobnews Report for March 4, 2008 containing the following charts and tables: link

STS Finance - Daily Stock Exchange Report - Feb 28, 2008 Mar 04, 2008, 13:58 CET | Broker’s Report | SeeNews The leading stocks on BSE traded mixed on Thursday, which was reflected by the equity indicators as well. Only the broader BG 40 has registered modest gain during the day. The other indexes, including SOFIX, finished the regular trading hours with slight losses. link

Sinteza Investment Group - Daily Market WrapUp - Feb 29, 2008 Mar 04, 2008, 14:22 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its Daily Market WrapUp for February 29, 2008, containg an overview of the Serbian Financial Market. link

Sinteza Investment Group - Daily Market WrapUp - Mar 3, 2008 Mar 04, 2008, 14:23 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its Daily Market WrapUp for March 3, 2008, containg an overview of the Serbian Financial Market. link

Serbian Shares Fall in Quiet Trading Mar 04, 2008, 16:42 CET | Story | SeeNews BELGRADE (Serbia), March 4 (SeeNews) - The Belgrade Stock Exchange (BELEX) closed down on Tuesday in another monotonous session as investors continue to wait for positive political signals after Kosovo declared independence. link

Serbia Schedule of Events - March 4 - May 18 Mar 04, 2008, 10:33 CET | Story | SeeNews BELGRADE (Serbia), March 4 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Serbia through May 18. New or amended entries are marked (*). link

* SLOVENIA *

GDP Growth in SEE To Quicken in 2009-2010 after 2008 Dip – WIIW Mar 04, 2008, 12:18 CET | Story | SeeNews SOFIA (Bulgaria), March 4 (SeeNews) – The economic growth of Southeast Europe is expected to quicken to up to 6.0% in 2009 and 2010 after a slight dip in 2008, the Vienna Institute for International Economic Studies (WIIW) said. link

Shares in Telekom Slovenije Plunge Further on News of Failed Sale Mar 04, 2008, 16:39 CET | Story | SeeNews LJUBLJANA (Slovenia), March 4 (SeeNews) - Shares in blue-chip Telekom Slovenije on Tuesday lost more than five percent, hit by Monday’s news that the government commission in charge of the sale of 49.13% of the company will propose to the cabinet to reject both bids for the stake, brokers said. link

Projected Fall in Slovenia’s Domestic Demand, Economic Growth to Enable Lower Inflation – C-Bank Mar 04, 2008, 18:19 CET | Story | SeeNews LJUBLJANA (Slovenia), March 4 (SeeNews) - A projected decrease in Slovenia’s domestic demand and a slowdown of its economic growth will enable the country to curb inflation, the Slovenian central bank said on Tuesday. link

Ljubljana Stock Exchange To Revise Broader Share Index Mar 04, 2008, 16:39 CET | Story | SeeNews LJUBLJANA (Slovenia), March 4 (SeeNews) - Furniture retailer Lesnina will replace floor covering manufacturer Juteks in the Ljubljana Stock Exchange’s (LJSE) broader 15-share SBI20 index from April 1, the exchange said on Tuesday. link

Telekom Slovenije Drags Slovenian Stock Indices Further Down Mar 04, 2008, 17:12 CET | Story | SeeNews LJUBLJANA (Slovenia), March 4 (SeeNews) - Slovenian stock indices fell further on Tuesday with blue chip Telekom Slovenije losing more than five percent on news of the failed sale of 49.13% of the company, brokers said. link

Slovenia Schedule of Events – March 4 - May 15 Mar 04, 2008, 08:45 CET | Story | SeeNews LJUBLJANA (Slovenia), March 4 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Slovenia through May 15. New or amended entries are marked (*). link

Slovenian Cow Tests Negative for Mad Cow Disease Mar 04, 2008, 14:49 CET | Story | SeeNews LJUBLJANA (Slovenia), March 4 (SeeNews) - Tests on a slaughtered cow suspected of having bovine spongiform encephalopathy (BSE) proved negative, Slovenia’s Agriculture Ministry said on Tuesday. link

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