Centro Studi Europa dell’Est - news del 28.01.2008 - powered by www.seenews.com

NEWS DEL 28.01.2008

* ALBANIA *

Albanian Insurers 11-mo Gross Premium Income Up 37% to 5.44 Bln Leks (44 Mln Euro) Jan 28, 2008, 13:18 CET | Story | SeeNews TIRANA (Albania), January 28 (SeeNews) - The gross premium income of Albanian insurers reached 5.44 billion leks ($65.3 million/44.3 million euro) through November, up 37% on the year, official statistics showed on Monday. http://seenews.com/news/latestnews/albanianinsurers11-mogrosspremiumincomeup37_to5_44blnleks_44mlneuro_-125732

* BOSNIA *

CROATIAN BELUPO SAYS TO ENTER STRATEGIC PARTNERSHIP WITH BOSNIAN FARMAVITA END-JAN Jan 28, 2008, 11:11 CET | Alert | SeeNews http://seenews.com/news/latestnews/croatianbeluposaystoenterstrategicpartnershipwithbosnianfarmavitaend-jan-110625

Croatian Belupo Says Will Enter Strategic Partnership with Bosnian Farmavita End-Jan Jan 28, 2008, 12:08 CET | Story | SeeNews ZAGREB (Croatia), January 28 (SeeNews) – Croatian drug maker Belupo, a subsidiary of blue-chip food manufacturer Podravka, said on Monday it will enter a strategic partnership deal with Bosnian privately held drug manufacturer and retailer Farmavita at the end of January. http://seenews.com/news/latestnews/edit_waitsharequotes_converscroatianbeluposaystoenterstrategicpartnership-112043

Two of Italian UniCredit’s Bosnian Banks Decide to Merge Jan 28, 2008, 15:44 CET | Story | SeeNews SARAJEVO (Bosnia and Herzegovina), January 28 (SeeNews) – Bosnia’s HVB Central Profit Banka and UniCredit Zagrebacka Banka, both part of Italy’s UniCredit Group, have decided to merge, they said on Monday. http://seenews.com/news/latestnews/twoofitalianunicredit_sbosnianbanksdecidetomerge-151700

Bosnia Schedule of Events – Jan 28 - May 9 Jan 28, 2008, 10:06 CET | Story | SeeNews SARAJEVO (Bosnia and Herzegovina), January 28 (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 (*). http://seenews.com/news/latestnews/bosniascheduleofevents___jan28-may9-095114

* BULGARIA *

BSE - Daily Bulletin, Selected Announcements - Jan 25, 2008 Jan 28, 2008, 09:02 CET | Specialists Reports | SeeNews With reference to the announcement posted on 24.01.2008 about the organisation of a training course for IT specialists for working with the programming interface of Xetra (VALUES API), BSE-Sofia informs that the schedule of the training changes to 13.02.2008 up to and 15.02.2008. http://seenews.com/news/latestnews/bse-dailybulletin_selectedannouncements-jan25_2008-090037

Bulgarian Sugar Refinery Zaharni Zavodi Issues 3.0 Mln Euro Bond Jan 28, 2008, 12:17 CET | Story | SeeNews SOFIA (Bulgaria), January 28 (SeeNews) - Bulgarian sugar refinery Zaharni Zavodi on Monday said it has issued a 3.0 million euro ($4.4 million) five-year bond to back growth. http://seenews.com/news/latestnews/bulgariansugarrefineryzaharnizavodiissues3_0mlneurobond-120534

S&P Raises Bulgarian Credit Firm JetFinance Rating to ’BBB-/A-3’, Outlook Stable Jan 28, 2008, 13:21 CET | Story | SeeNews SOFIA (Bulgaria), January 28 (SeeNews) - Global rating agency Standard & Poor’s (S&P) on Monday said it has raised its long- and short-term counterparty credit ratings on Bulgarian consumer credit company JetFinance International to ’BBB-/A-3’ from ’B+/B’as the outlook remained stable. The upgrade follows the completion in November 2007 of the acquisition of JetFinance by BNP Paribas through its consumer finance subsidiary, Cetelem. Before the deal, JetFinance International was majority owned by U.S. AIG Investments through the AIG -New Europe Fund, a fund sponsored by AIG Capital Partners, Inc. “JetFinance is now part of the new BNP Paribas Personal Finance business and the vehicle through which Cetelem’s consumer credit and mortgages business operates within Bulgaria," Standard & Poor’s credit analyst Jerome Chui said in a statement. http://seenews.com/news/latestnews/s_praisesbulgariancreditfirmjetfinanceratingto_bbb-_a-3__outlookstable-130857

Bulgarian National Bank - Weekly Balance Sheet of Issue Dept - Jan 4, 2008 Jan 28, 2008, 14:24 CET | State Agencies Reports | SeeNews The Bulgarian National Bank (BNB) has published the balance sheet of its issue department as of January 4, 2008. http://seenews.com/news/latestnews/bulgariannationalbank-weeklybalancesheetofissuedept-jan4_2008-141642

Bulgarian National Bank - Weekly Balance Sheet of Issue Dept - Jan 11, 2008 Jan 28, 2008, 14:33 CET | State Agencies Reports | SeeNews The Bulgarian National Bank (BNB) has published the balance sheet of its issue department as of January 11, 2008. http://seenews.com/news/latestnews/bulgariannationalbank-weeklybalancesheetofissuedept-jan11_2008-143139

Bulgarian National Bank - Weekly Balance Sheet of Issue Dept - Jan 18, 2008 Jan 28, 2008, 14:39 CET | State Agencies Reports | SeeNews The Bulgarian National Bank (BNB) has published the balance sheet of its issue department as of January 18, 2008. http://seenews.com/news/latestnews/bulgariannationalbank-weeklybalancesheetofissuedept-jan18_2008-143821

Part of Bulgarian Banks’ Credit Portfolio Might Turn out Problematic – C-Bank Jan 28, 2008, 15:53 CET | Story | SeeNews SOFIA (Bulgaria), January 28 (SeeNews) – Part of the loan portfolios of Bulgarian banks might turn out to be problematic as some banks overestimate the creditworthiness of their clients while chasing market share targets, the central bank said. http://seenews.com/news/latestnews/partofbulgarianbankscreditportfoliomightturnoutproblematic___c-bank-110520

Bulgaria Expects Up to 6.0 Bln Euro in Tourism Revenue by 2013 Jan 28, 2008, 16:14 CET | Story | SeeNews SOFIA (Bulgaria), January 28 (SeeNews) – Bulgaria expects to attract 6.0 billion euro ($8.8 billion) in annual tourism revenue by 2013, up from 2.4 billion euro projected for 2007, the government’s tourism agency said in a report. http://seenews.com/news/latestnews/bulgariaexpectstourismrevenueupto6_0blneuroby2013-153751

Bulgarian Bottle Caps Manufacturer Herti Prices IPO at 1.58 Euro/Share Jan 28, 2008, 17:01 CET | Story | SeeNews SOFIA (Bulgaria), January 28 (SeeNews) - Bulgarian bottle caps manufacturer Herti said on Monday it has priced its initial public offering (IPO) at 3.1 levs ($2.33/1.58 euro) per share, the minimum price set in its prospectus. http://seenews.com/news/latestnews/bulgarianbottlecapsmakersetsat1_58euroipoprice_share-152638

UBB - Bulgaria: Economic & Market Analyses, Dec 2007 Jan 28, 2008, 09:52 CET | Broker’s Report | SeeNews Currentaccount gap widened by 69.2% y/y to 18.9% of GDP in January-November. Net FDI inflows rose by 29.4% y/y in January-November to 92% of CA gap Foreign trade deficit widened by 37.2% y/y to EUR 6.572bn (23% of GDP) in January-NovemberGross external debt grew by 31.5% y/y to 91.1% of GDP as of end-OctoberGDP growth slowed to 4.5% y/y in Q3 as agriculture fell by 43% y/yConsumer price inflation slowed marginally to 12.5% y/y in December. PPI inflation accelerated to 13.2% y/y in November Industrial sales growth slowed down to 5.3% y/y in NovemberRetail sales rose by 2.1% y/y in NovemberHousehold monetary income and expenditure increased by 19.7% y/y and 28.6% y/y respectively in November Unemployment rate reached 6.91% y/y in DecemberConsolidated budget surplus widened by 57.5% y/y to 7.2% of GDP in January-November.Money supply grew by 30.5% y/y as ofend- November. Credit to non-government sector surged by 62.1% y/y at end-NovemberBanks’ net profit grew by 55.2% y/y to E UR 536 mn in January-NovemberPension funds reported double-digit return rates for the past two yearsIn November bourse indices fell by 15% and the BSE lost nearly BGN 2.2 bn (8%) of its market capitalisation http://seenews.com/news/latestnews/ubb-bulgaria_economic_marketanalyses_dec2007-094640

Bulgaria C-Bank FX Reserves Down 0.42% in Week-Table Jan 28, 2008, 17:04 CET | Story | SeeNews SOFIA (Bulgaria), January 28 (SeeNews) - The foreign exchange assets of the Bulgarian central bank’s Issue Department totalled 22.976 billion levs ($17 billion/11.8 billion euro) on January 25, down 0.42% from a week earlier, central bank data showed on Monday. http://seenews.com/news/latestnews/bulgariac-bankfxreservesdown0xxx_inweek-table-162536

Karoll - Bulgarian Stock Market Overview - Jan 21 - 25, 2008 Jan 28, 2008, 10:50 CET | Broker’s Report | SeeNews Commentary http://seenews.com/news/latestnews/karoll-bulgarianstockmarketoverview-jan21-25_2008-104754

Elana - Bulgaria Daily Report - Jan 25, 2008 Jan 28, 2008, 11:24 CET | Broker’s Report | SeeNews MARKET HIGHLIGHTSThe Bulgarian stocks finished the last session for the week in the green. Most position erased some of previous losses although they are still below recent highs. The absence of large sell offers calmed the investors and turned the direction of the market. Forthcoming 4Q 2007 reports additionally could support companies. Petrol (PET: 5.50; +13.17%) outperformed and boosted the main index as well as Bulgarian American Credit Bank (BACB: 62.26; +7.29%). Holdings also closed on the up side leaded by Industrial Holding Bulgaria (IHLBL: 8.51; +7.56%).After the news for forthcoming sale, the shares of metallurgical company Kremikovtzi (KREM: 20.99; +20.01%) hit the upper limit. Enemona (ENM: 17.04; +0.18%) continued to attract market’s attention. The engineering company settled among the most traded positions but was hardly changed. http://seenews.com/news/latestnews/elana-bulgariadailyreport-jan25_2008-112007

Elana - BSE-Sofia Weekly Overview - Jan 25, 2008 Jan 28, 2008, 12:10 CET | Broker’s Report | SeeNews Market TrendThe negative bias predominated on BSE during the week. The panic pushed down most positions after several large sell-offs. Buyers remained cautious and didn’t support the market. The first trading day of Enemona (ENM) attracted investors’ attention. The company settled among most traded positions but couldn’t make an impressive run due to the recent market weakness. Mekom announced that the IPO is postponed with 44 days due to the recent market turmoil. Indexes finished the week on the down side despite the strong Friday’s session. The announcing of 4Q 2007 financial reports could support the market as the ratios of most positions became very attractive as compared to a year ago. http://seenews.com/news/latestnews/elana-bse-sofiaweeklyoverview-jan25_2008-120734

FFBH - Bulgaria Morning Update - Jan 28, 2008 Jan 28, 2008, 13:09 CET | Broker’s Report | SeeNews MARKET WRAP-UPWe saw a huge recovery step on Friday.It seemed that the large positive moves of the markets worldwide from the second part of the week did not after all surpass Bulgaria. The first trading session without the massive sell pressure that we witnessed during the whole week resulted in record gains for all the indices. SOFIX moved 6.19% up to 1402.76 bps after the support of 16 from the 17 companies included in the index. BG40 gained 8.02% to 423.55 bps and the total return index BGTR30 scored a 5.20% positive move and closed at 909.65 bps. Double digit gains were registered by a number of issues, with the most important coming from Fazerles (FZLES, BGN 239.00, +19.50%), M+S Hydraulics (MCH, BGN 10.50, +13.39%) and Petrol (PET, BGN 5.50, 12.24%). In the top gainers list was also Kremikovtzi (KREM, BGN 22.60, +25.56%) following the news that the current owner Pramod Mital, was in the middle of negotiating the sale of the company to the Ukrainian billionaire Konstant in Zhevago. http://seenews.com/news/latestnews/ffbh-bulgariamorningupdate-jan28_2008-121450

KD Securities - Sofia Stock Exchange Weekly Report - Jan 21 - 25, 2008 Jan 28, 2008, 13:23 CET | Broker’s Report | SeeNews 1. SOFIA STOCK EXCHANGE EVOLUTION http://seenews.com/news/latestnews/kdsecurities-sofiastockexchangeweeklyreport-jan21-25_2008-132115

Bulgarian Stocks End Lower, Prospects Unclear Jan 28, 2008, 14:58 CET | Story | SeeNews SOFIA (Bulgaria), January 28 (SeeNews) – Bulgarian stock indices on Monday ended lower in line with international markets, as fears that a possible recession in the U.S. will hurt the global economy persisted, brokers said. http://seenews.com/news/latestnews/bulgarianstockindicesdown_prospectsunclear-143223

Bulgaria Schedule of Events - Jan 28- March 20 Jan 28, 2008, 09:06 CET | Story | SeeNews SOFIA (Bulgaria), January 28 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in, or related to, Bulgaria through March 20. New or amended entries are marked (*). http://seenews.com/news/latestnews/bulgariascheduleofevents-jan28-march20-084659

* CROAZIA *

Austrian Erste Bank Says Croatian Macroeconomic Risks Remain Low, Keeps Recommendation on Three Blue-Chips Jan 28, 2008, 17:54 CET | Analysis | SeeNews ZAGREB (Croatia), January 28 (SeeNews) – Austrian commercial bank Erste said on Monday the macroeconomic risks for Croatia remained low, and maintained its "hold" recommendation for oil and gas company INA, and "accumulate" recommendations for food company Podravka and telecom T-HT. http://seenews.com/news/latestnews/austrianerstebanksayscroatianmacrorisksremainlow_maintainsrecommendations-160730

CROATIAN BELUPO SAYS TO ENTER STRATEGIC PARTNERSHIP WITH BOSNIAN FARMAVITA END-JAN Jan 28, 2008, 11:11 CET | Alert | SeeNews http://seenews.com/news/latestnews/croatianbeluposaystoenterstrategicpartnershipwithbosnianfarmavitaend-jan-110625

Croatian Belupo Says Will Enter Strategic Partnership with Bosnian Farmavita End-Jan Jan 28, 2008, 12:08 CET | Story | SeeNews ZAGREB (Croatia), January 28 (SeeNews) – Croatian drug maker Belupo, a subsidiary of blue-chip food manufacturer Podravka, said on Monday it will enter a strategic partnership deal with Bosnian privately held drug manufacturer and retailer Farmavita at the end of January. http://seenews.com/news/latestnews/edit_waitsharequotes_converscroatianbeluposaystoenterstrategicpartnership-112043

Croatian Retailer Magma 2007 Pre-Tax Profit Up 30% Jan 28, 2008, 13:10 CET | Story | SeeNews ZAGREB (Croatia), January 28 (SeeNews) – Croatian blue-chip clothing and toys retailer Magma reported on Monday a 30% rise in 2007 pre-tax profit to 52.9 million kuna ($10.7 million/7.3 million euro). http://seenews.com/news/latestnews/croatianretailermagma2007pre-taxprofitup30_-121531

Erste Securities - Croatian Equity Daily - Jan 28, 2008 Jan 28, 2008, 11:43 CET | Broker’s Report | SeeNews Highlights: http://seenews.com/news/latestnews/erstesecurities-croatianequitydaily-jan28_2008-113849

Croatian Shares Fall Further in Low Turnover Shadowing Intl Markets Jan 28, 2008, 18:42 CET | Story | SeeNews ZAGREB (Croatia), January 28 (SeeNews) - The Croatian share indices on Monday ended lower in thin turnover, as the stat of the week brought further losses on interntional markets that influenced the bourse in Zagreb, brokers said. http://seenews.com/news/latestnews/croatiansharesfallfurtherinlowturnover_followsglobalmkts-181105

Croatia Schedule of Events - Jan 28 - May 17 Jan 28, 2008, 09:54 CET | Story | SeeNews ZAGREB (Croatia), January 28 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Croatia through May 17. New or amended entries are marked (*). http://seenews.com/news/latestnews/croatiascheduleofevents-jan28-may17-094353

* MOLDOVA *

Moldovan Banks Assets Up 40.6% in 2007 to 32 Bln Lei (2.0 Bln Euro) Jan 28, 2008, 10:21 CET | Story | SeeNews CHISINAU (Moldova), January 28 (SeeNews) - Moldovan banks had 32 billion lei ($2.8 billion/2.0 billion euro) in assets at the end of 2007, up 40.6% from a year earlier, the country’s central bank, BNM, said on Monday. http://seenews.com/news/latestnews/moldovanbanksassetsup40_6_in2007-095909

Moldova’s Banca Sociala 2007 Net Profit Up 28% to 51.56 Mln Lei (3.1 Mln Euro) - Table Jan 28, 2008, 10:57 CET | Story | SeeNews CHISINAU (Moldova), January 28 (SeeNews) - The net profit of Moldovan commercial bank Banca Sociala rose by 28% last year 51.56 million lei ($4.6 million/3.1 million euro), the bank said on Monday. http://seenews.com/news/latestnews/moldova_sbancasociala2007netprofitup28_to51_56mlnlei_3_1mlneuro_-table-105558

Moldova-Agroindbank Net Profit Up 30% to 235.5 Mln Lei (14 Mln Euro) in 2007 - Table Jan 28, 2008, 14:37 CET | Story | SeeNews CHISINAU (Moldova), January 28 (SeeNews) - Moldova-Agroindbank, the largest commercial bank in the ex-Soviet country, said on Monday its net profit rose by 30% to 235.5 million lei ($21 million/14 million euro) last year. http://seenews.com/news/latestnews/moldova-agroindbanknetprofitup30_to235_5mlnlei_14mlneuro_in2007-table-143302

Spending by Moldovan Bank Card Holders Up 46% in 2007 Jan 28, 2008, 17:18 CET | Story | SeeNews CHISINAU (Moldova), January 28 (SeeNews) - Moldovan debit and credit card holders spent 8.2 billion lei ($729 million/495 million euro) using their cards in 2007, up from 5.6 billion lei a year earlier, the country’s central bank (BNM) said on Monday. http://seenews.com/news/latestnews/spendingbymoldovanbankcardholdersup46_in2007-144900

Moldova Schedule of Events - Jan 28 - Feb 27 Jan 28, 2008, 09:52 CET | Story | SeeNews CHISINAU (Moldova), January 28 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Moldova through February 28. New or amended entries are marked (*) http://seenews.com/news/latestnews/moldovascheduleofevents-jan28-feb27-094643

* ROMANIA *

Romania Receives 53 Letters of Intent for Drug Maker Antibiotice Jan 28, 2008, 10:51 CET | Story | SeeNews BUCHAREST (Romania), January 28 (SeeNews) - Romania’s state asset-selling agency AVAS on Monday said it has received 53 letters of intent so far for a 53.02% stake in drug maker Antibiotice. http://seenews.com/news/latestnews/romaniasaysreceived53lettersofintentfordrugmakerantibiotice-101700

Romania’s Romstal Leasing Sees 2008 Contract Revenue Up 30% to 275 Mln Euro Jan 28, 2008, 12:03 CET | Story | SeeNews BUCHAREST (Romania), January 28 (SeeNews) - Romania’s Romstal Leasing said on Monday it plans to sign 7,500 contracts worth 275 million euro ($404 million) in 2008, up by 30% from last year. http://seenews.com/news/latestnews/romania_sromstalleasingsees2008contractrevenueup30_to275mlneurofrom49_in-112348

INTERVIEW - Bucharest-based Mentor Group To Invest 150 Mln Euro in Residential Projects in Bulgaria, Romania, Eyes Moldova and Ukraine Jan 28, 2008, 15:40 CET | Story | SeeNews BUCHAREST (Romania), January 28 (SeeNews) - Bucharest-based real estate developer Mentor Group Holdings plans to invest 150 million euro ($220.5 million) this year into developing residential projects in Romania and Bulgaria and considers expansion to Moldova and Ukraine, the group’s president Alon Peled said. http://seenews.com/news/latestnews/_editanddecreseforautorisation_interview-israeli-ownedmentorgroupholdings-140921

Greek OTE Romanian Unit To Cut up to 2,500 Jobs in 2008 Jan 28, 2008, 18:30 CET | Story | SeeNews BUCHAREST (Romania), January 28 (SeeNews) - Romania’s leading fixed-line operator Romtelecom on Monday said it would cut approximately 2,500 jobs this year. http://seenews.com/news/latestnews/greekoteromanianunittocutupto2_500jobsin2008-153021

Austria’s Erste Bank Applies to List Shares on Romanian Bourse Jan 28, 2008, 18:31 CET | Story | SeeNews BUCHAREST (Romania), January 28 (SeeNews) - Austria’s Erste Bank, majority owner of Romania’s largest bank by assets Banca Comerciala Romana (BCR), said on Monday it has applied to list its own shares on the Bucharest Stock Exchange (BVB). http://seenews.com/news/latestnews/austria_serstebankplanstolistsharesonromanianbourse_expectsbourse___s-155814

Romania Business Sentiment Remains Mostly Positive in January Jan 28, 2008, 09:08 CET | Story | SeeNews BUCHAREST (Romania), January 28 (SeeNews) - Romanian managers remain mostly positive about the performance of the country’s economy in the three months through March, the country’s statistics board, INS, said on Monday. http://seenews.com/news/latestnews/romaniabusinesssentimentremainsmostlypositiveinjanuary-090423

Romanian National Bank - Main Economic Developments - Full Report, Oct 2007 Jan 28, 2008, 15:28 CET | State Agencies Reports | SeeNews The National Bank of Romania BNR has released its October 2007 issue of its monthly statistics report, containing data on the main macroeconomic and financial indicators, provided by the National Institute of Statistics, the Finance Ministry, the Bucharest Stock Exchange, RASDAQ and BNR. http://seenews.com/news/latestnews/romaniannationalbank-maineconomicdevelopments-fullreport_oct2007-152549

Ieba Trust - Romanian Market Daily - Jan 25, 2008 Jan 28, 2008, 10:30 CET | Broker’s Report | SeeNews BET-FI registered the highest daily increase since 3 January 2007 http://seenews.com/news/latestnews/iebatrust-romanianmarketdaily-jan25_2008-102724

Confident Invest - Weekly Update - Jan 25, 2008 Jan 28, 2008, 11:10 CET | Broker’s Report | SeeNews AbstractThe falls, the negative sentiments and the widespread indecision of the last week, prevailed on the Bucharest Stock Exchange. The BSE indices followed closely the external trends, on a growing level of liquidity. The debated effects of the possible US recession as well as the governments’ attempts to straight the economies were among the most influential factors of the stock markets volatility. The quick interest rate cut announced by the FED sooner than expected as well as the Bush administration’s strategy to boost the American economy maintained the speculations according to which the economical situation in the US could be much more severe than thought. Besides it’s not out of the question that this US stimulus plan could solve just a part of the economical problems, as the effects of the refinancing could worsen the current state of facts. Although the FED interest rate cut to 3.5% handed for the moment the stock markets’ dramatically falls, a low level o f the interest rate could amplify inflation risks and despite the huge amount of money ($ 150 billion) allotted to the stimulus plan which should revive the consumption growth, the losses suffered by most of the financial companies could determine them to adopt a more cautious attitude with more strictly loans conditions. While waiting the effects of this strategy, the investors saluted the White House’s decision, as by the end of the week most of the international indices went up.On the BSE, the week was marked by a high level of volatility, with significant up-side downs similarly to the external stock markets. On Thursday, January 24th, Transgaz shares were finally available for trading, as the BSE’s liquidity quickly went up to 83.147 million lei, the second biggest liquidity of the last week; moreover, almost 20% of Thursday’s liquidity was due to the shares of state-owned gas transportation company. From the banking sector, BRD caught investors\\\’attention for t he second part of the week, as the mother company, Societe General nnounced a 4.9 billion euros fraud within its brokerage division. BRD shares had some oscillations, as the shares went down by the end of the week more than 8%. Besides, Societe General plans to raise 5.5 billion euros from shareholders after the loss. Among the companies which declared theirs intention of underwriting are giants J.P. Morgan and Morgan Stanley.As for the next period we expect a high level of volatility to be maintained as we recommend cautious. Although many BSE companies reached very attractive levels of prices, the discount sales period could continue, against the national and international speculations, as there are favorable days for risk loving investors. http://seenews.com/news/latestnews/confidentinvest-weeklyupdate-jan25_2008-110724

Raiffeisen Capital & Investment - Investment Daily Romania - Jan 28, 2008 Jan 28, 2008, 11:52 CET | Broker’s Report | SeeNews Trader’s CommentThe trading session of Friday outshined the session of Thursday and wins the first place for this year in terms of liquidity (EUR 24.6 mn) but also in terms of price rises. BET went up 3.9%, BET-C increased 4% and BET-FI surged 6.3%. The day debuted calmly, with small appreciations, but as buy orders came forward, the market went higher and higher. The high volume suggests foreign investors returned on the buy side. Also, the fact that near the end of the session not many intraday positions were closed, which would have driven down the prices, shows that the purchases were made for keeping.It is worth mentioning that, despite the losses announced by Societe Generale, BRD shares succeeded to hit the high of the day at RON 2.1 (up 6% dod) and close the day at RON 20.5, some 3% above the closing price of Thursday, on a volume reaching 500,000 shares.In the newsMoody’s reaffirms BRD-GSG’s ratingsThe rating agency affirmedits rating for BRD-GSG, saying that the los ses reported by its parent SocGen will not have a material impact on it. Thus, the Bank’s Financial Strength Rating is affirmed at D+ with a stable outlook, while the local currency deposit ratings is also affirmed at A2/Prime-3. In addition, the foreign currency deposit ratings are set at Baa3/Prime-3 and the outlook on all of the bank’s deposit ratings is stable. The global local currency deposit ratings remain unchanged due to the very high probability of systemic support imputed in these ratings, said the rating agency. Bere Azuga - capital increase subscription periodIn a press release to the Bucharest Stock Exchange (BVB), local beer producer Bere Azuga (BEGY) announced the subscription period for the share capital increase approved by the shareholders on December 17, 2007. Shareholders registered as of January 11, 2008 can subscribe 1.3 new shares for each share held at RON 2.5 per share. The subscription period is set for January 23 February 21, 2008.Indices http://seenews.com/news/latestnews/raiffeisencapital_investment-investmentdailyromania-jan28_2008-114937

KD Capital Management - Bucharest Stock Exchange - Weekly Report - Jan 21 - 25, 2008 Jan 28, 2008, 13:34 CET | Broker’s Report | SeeNews 1. STOCK EXCHANGE OVERVIEW http://seenews.com/news/latestnews/kdcapitalmanagement-buchareststockexchange-weeklyreport-jan21-25_2008-133151

Romanian National Bank - Developments on Romanian Financial Markets, Jan 14 -18, 2008 Jan 28, 2008, 15:11 CET | State Agencies Reports | SeeNews The National Bank of Romania BNR has released its weekly report on the developments on the local financial markets for the week 14 - 18 January, 2008: http://seenews.com/news/latestnews/romaniannationalbank-developmentsonromanianfinancialmarkets_jan14-18_2008-145602

Romanian Bourse Indices Fall amid Low Liquidity in Line with Intl Markets Jan 28, 2008, 17:30 CET | Story | SeeNews BUCHAREST (Romania), January 28 (SeeNews) - Romanian stock indices on Monday closed down amid low liquidity, reflecting the losses on international markets, brokers said. http://seenews.com/news/latestnews/romanianbourseindicesfallamidlowliquidityinlinewithintlmarkets-171021

Romania Schedule of Events - Jan 28 - April 22 Jan 28, 2008, 09:07 CET | Story | SeeNews BUCHAREST (Romania), January 28 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Romania through April 22. New or amended entries are marked (*). http://seenews.com/news/latestnews/romaniascheduleofevents-jan28-april22-082842

Romanian Leu Ends Stronger vs Euro, Market Awaits C-Bank Meeting Jan 28, 2008, 18:23 CET | Story | SeeNews BUCHAREST (Romania), January 28 (SeeNews) - Romania’s leu on Monday firmed against the euro and traders said their attention was focused on a rate setting meeting of the country’s central bank due next week. http://seenews.com/news/latestnews/romanianleuendsstrongervseuro_marketawaitsc-bankmeeting-160943

* SERBIA *

Dutch Heineken To Team Up with Turkey’s Efes Breweries in Serbia Jan 28, 2008, 10:19 CET | Story | SeeNews BELGRADE (Serbia), January 28 (SeeNews) - Dutch brewer Heineken said on Monday it would team up with Turkey’s Efes Breweries International (EBI) on the Serbian market, following the establishment of a 60/40 joint venture company between them. http://seenews.com/news/latestnews/dutchheinekentoteamupwithturkey_sefesbreweriesinserbia-095528

Serbia’s Q3 New Car Registrations Up 23.2% Y/Y - Table Jan 28, 2008, 12:58 CET | Story | SeeNews BELGRADE (Serbia), January 28 (SeeNews) - Registrations of new passenger cars in Serbia rose by 23.2% on the year to 19,779 in the third quarter of 2007, the country’s statistics office said on Monday. http://seenews.com/news/latestnews/serbia_sq3newcarregistrationsup23_2_y_y-table-121918

Vojvodjanska Banka - Daily Vobnews - Jan 28, 2008 Jan 28, 2008, 11:58 CET | Broker’s Report | SeeNews Vojvodjanska banka released its Daily Vobnews Report for January 28, 2008 containing the following charts and tables: http://seenews.com/news/latestnews/vojvodjanskabanka-dailyvobnews-jan28_2008-115637

Sinteza Investment Group - Daily Market WrapUp - Jan 25, 2008 Jan 28, 2008, 13:44 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its Daily Market WrapUp for January 25, 2008, containg an overview of the Serbian Financial Market http://seenews.com/news/latestnews/sintezainvestmentgroup-dailymarketwrapup-jan25_2008-134227

Sinteza Investment Group - Weekly Market WrapUp, Jan 21 - 25, 2008 Jan 28, 2008, 13:51 CET | Broker’s Report | SeeNews NIS sold off to Gasprom for EUR 900 millionTadic and Nikolic battle for votesPoor performance this week crippled the indexes and many of the most liquid stocks as investors become weary of the political situation in Serbia. The BELEX15, "blue-chip" index fell -7,65% this week while the BELEXline dropped -5,22%. Regional markets were also in the red this week but are slowly recovering.State officials this week signed the protocol forthe sale of 51% of state owned oil company; NIS and paved the way for the construction of the gas pipeline which is meant to run through Serbia. This agreement also gives the State 49% stake in the gas pipeline. The deadline for signing the contract is December 2008 after which the Russian "Gasprom" becomes the owner of the monopolistic NIS in Serbia. Boris Tadic and Tomislav Nikolic are the two candidates which will run against one another in the elections scheduled in Febuary. There is a substantial gap between the two parties, with the Radicals claiming nearly 40% of all voters in Serbia. The democratic party of Boris Tadic will seek to rally support from the other democratic parties but, according to Tadic, will not be subject to ultimatums and conditioning. The well known rating firm Standard&Poor’s says that it believes that the Radical’s accession to power will undoubtedly cripple Serbia in the eyes of the world. Ikarbus (BSE: IKRB) announced another deal this week, this time with the State transport company for 100 commuter buses for mid 2008. This news did not help its stock price but it did provide a bright outlook come mid July. The State prepares for two new share emissions of Komercijalna Banka and Postanska Stedionica Bank which are expected to raise capitol in excess of EUR 50 million.The most traded stock was again AIK Bank’s shares (BSE:AIKB) with RSD 856 million but did not help its share price which dropped -3,56% week-on-week. Lukoil (BSE: LOIL) saw an impressive increase in its stock price of 55,5 6% with very low volume of trade after being relatively dormant fo he past three months. Bond trading picked up this week increasing in overall volume by 138% reaching EUR 1,14 million of trade volume. The bonds with the largest volume were A2016 with EUR 423 thousand in volume while A2009 was the only bond with a price increase week-on-week. http://seenews.com/news/latestnews/sintezainvestmentgroup-weeklymarketwrapup_jan21-25_2008-134852

Serbian Shares Start Week Down ahead of Presidential Run-off Jan 28, 2008, 18:38 CET | Story | SeeNews BELGRADE (Serbia), January 28 (SeeNews) - The Belgrade Stock Exchange (BELEX) indices closed down on Monday and brokers expect some nervous investors to be susceptible to speculation through the week, ahead of Sunday’s second round of presidential elections. http://seenews.com/news/latestnews/serbiansharesstartweekdownaheadoffeb3presidentialrun-off-170032

Serbia Schedule of Events - Jan 28 - May 18 Jan 28, 2008, 09:35 CET | Story | SeeNews BELGRADE (Serbia), January 28 (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 (*). http://seenews.com/news/latestnews/serbiascheduleofevents-jan28-may18-091853

* SLOVENIA *

Slovenia’s Economic Sentiment Index Falls in January Jan 28, 2008, 11:04 CET | Story | SeeNews LJUBLJANA (Slovenia), January 28 (SeeNews) - Slovenia’s seasonally-adjusted economic sentiment index fell by four percentage points in January from a month earlier, the Statistics Office said on Monday. http://seenews.com/news/latestnews/slovenia_seconomicsentimentindexfallsinjanuary-104454

Slovenian Stock Indices Lose Ground, Follow Foreign Markets Jan 28, 2008, 17:15 CET | Story | SeeNews LJUBLJANA (Slovenia), January 28 (SeeNews) - Slovenian stock indices fell in lower turnover on Monday in tune with the negative trend on most foreign markets, brokers said. http://seenews.com/news/latestnews/slovenianstockindicesloseground_followforeignmarkets-165503

Slovenia Schedule of Events - Jan 28-Feb 27 Jan 28, 2008, 10:43 CET | Story | SeeNews LJUBLJANA (Slovenia), January 28 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Slovenia through February 27. New or amended entries are marked (*). http://seenews.com/news/latestnews/sloveniascheduleofevents-jan28-feb27-101725

Nostre raccomandazioni finali:

Avviso n. 1

AIIDATA

IMPORTANTE ANNUNCIO:

Ad integrazione del news forniteci dalla Seenews è utile consultare il sito BALCANIONLINE attivato dall’Istituto Nazionale per il Commercio Estero con il preciso scopo di aggiornare in tempo reale su quanto accade nei Balcani.

B. L’iniziativa economica italiana nei Balcani.