News report of 12.08.2008

* Albania *

Albania Sells 6.3 Bln Leks (52 Mln Euro) in T-bills, Yields Fall Aug 12, 2008, 15:32 CET | Story | SeeNews TIRANA (Albania ), August 12 (SeeNews) - Albania sold 6.3 billion leks ($77.5 million/51.9 million euro) in two Treasury bill issues at an auction on Tuesday as yields fell, the bank said. link

* Bosnia *

Bosnian Equity Markets Can Improve on Country’s EU Accession Progress, Big Privatisation Deals - RCI Aug 12, 2008, 16:27 CET | Story | SeeNews SARAJEVO (Bosnia and Herzegovina), August 12 (SeeNews) – Progress in European Union admission talks and big privatisation deals can improve trading on Bosnia’s equity markets in the third quarter of 2008, a report by Raiffeisen Capital & Investment (RCI) showed on Tuesday. link

* Bulgaria *

Bulgaria’s Enemona Buys Control of EMKO Belene in Preparation for Orders in N-Plant Construction Aug 12, 2008, 16:30 CET | Story | SeeNews SOFIA (Bulgaria), August 12 (SeeNews) – Bulgarian engineering, construction and energy group Enemona said on Tuesday it has acquired control of local engineering company EMKO Belene for an undisclosed sum in view of its plans to take part in the construction of the second nuclear power plant in the country. link

INTERVIEW – Bulgarian Telco Vestitel BG Sees Revenue More than Doubling in 2008, Break-Even in 2010 Aug 12, 2008, 15:20 CET | Interview | SeeNews SOFIA (Bulgaria), August 12 (SeeNews) – Bulgarian telecoms company Vestitel BG, owned by gas retailer Overgas, expects revenue to more than double in 2008, reaching 1.9 million levs, with break-even seen in 2010, the company’s CEO said. link

INTERVIEW - U.S. EIG Renewables Eyes Key Role in SEE Green Energy Market Aug 12, 2008, 15:09 CET | Interview | SeeNews SOFIA (Bulgaria), August 12 (SeeNews) – U.S.-based EIG Renewables plans to become a leading player in the alternative energy market in southeastern Europe, driven by innovative solutions and good supply chain, the company chair said. link

Bulgarian Stocks End Higher, Seen Up Until Early September Aug 12, 2008, 14:56 CET | Story | SeeNews SOFIA (Bulgaria), August 12 (SeeNews) – Bulgarian stocks ended up on Tuesday and are likely to keep posting gains until the beginning of September, brokers said. link

ANALYST COMMENT – Fast-Rising Expensive Imports Widen Bulgaria’s 6-Mo C/A Gap Aug 12, 2008, 14:41 CET | Analysis | SeeNews SOFIA (Bulgaria), August 12 (SeeNews) - The biggest pressure on Bulgaria’s widening current account deficit in the first half of 2008 came from fast-rising imports in June and high global prices of raw materials, analysts said on Tuesday. link

KBC’s Bulgarian Insurance Unit Sees Local General Insurance Market Growing by up to 16% in 2008 Aug 12, 2008, 11:46 CET | Story | SeeNews SOFIA (Bulgaria), August 12 (SeeNews) - Bulgarian insurer DZI, majority-owned by Belgium’s KBC, expects the country’s general insurance market to grow by up to 16% this year from 1.27 billion levs ($975 million/649 million euro) in 2007, a Sofia-based daily reported on Tuesday. link

UPDATE 1 - Bulgaria’s 6-Mo C/A Gap Widens to 11.5%/GDP - Table Aug 12, 2008, 11:41 CET | Story | SeeNews SOFIA (Bulgaria), August 12 (SeeNews) - Bulgaria’s current account deficit through June widened to a preliminary 11.5% of the country’s gross domestic product (GDP) projected for 2008 from 10% in the same period a year earlier, central bank data showed on Tuesday. link

Bulgaria’s Largest Coal Mine Maritsa East Beats 7-mo Output Plan by 8.2% Aug 12, 2008, 11:17 CET | Story | SeeNews SOFIA (Bulgaria), August 12 (SeeNews) - Bulgaria’s largest mining complex, Maritsa East Mines, on Tuesday said it extracted 13.3 million tonnes of coal through July, exceeding its target for the first seven months of the year by 8.2%. link

Bulgaria’s Jan-June C/A Gap Widens to 11.5%/GDP Aug 12, 2008, 11:11 CET | Story | SeeNews SOFIA (Bulgaria), August 12 (SeeNews) - Bulgaria’s current account deficit through June widened to a preliminary 11.5% of the country’s gross domestic product (GDP) projected for 2008 from 10% in the same period a year earlier, central bank data showed on Tuesday. link

BULGARIA’S 6-MO C/A GAP WIDENS TO 11.5%/GDP FROM 10%/GDP YR AGO - C-BANK Aug 12, 2008, 11:03 CET | Alert | SeeNews link

Bulbrokers - Daily FX Analysis - Aug 12, 2008 Aug 12, 2008, 11:01 CET | Broker’s Report | SeeNews Euro extends its loss against the US dollar to a six-month bottom The US dollar expanded its rally to six-monthshigh against the euro on Monday, boosted by another drop in crude oil prices to $114 per barrel. Declining oil prices helped ease worries about the impact of higher energy costs on the US economy and also helped boost demand for the greenback. The euro continued to be under serious pressure after ECB’s President Trichet last week provided a pessimistic economic growth forecast for the eurozone growth. The speech rose investors’ expectations that next ECB rate move will be to lower rates rather than raise them. Data released in the eurozone saw German July wholesale prices up 1.4% m/m and 9.9% y/y.The British pound continued to weaken against the US dollar and even reached its lowest level since November 2006. The negative pressure came form the economic data released during the day that fueled speculations Bank of England’s Monetary Policy Committee will be fo rced to reduce the interest rate very soon. The data released in UK saw June output prices up 0.4% m/m and 10.2% y/y, their highest annual rate since 1986 but below expectations. Input prices were down 0.6% m/m and 30.1% y/y. June trade deficit widened to ₤7.7 billion.The yen finally managed to advance versus the US dollar, after its poor performance during the last couple of days. The Japanese currency was supported by the Economy minister Yosano, who reported the government will issue its economic stimulus package details by the end of the month. Still, most traders believe Bank of Japan’s Policy Board will keep the overnight call rate unchanged at 0.50% for the next several months. link

Bulbrokers - USA Stock Markets Daily Review - Aug 12, 2008 Aug 12, 2008, 10:56 CET | Broker’s Report | SeeNews The Positive Sentiment on Wall Street Remains link

FFBH - Bulgaria Morning Update - Aug 12, 2008 Aug 12, 2008, 10:49 CET | Broker’s Report | SeeNews market wrap-up link

UPDATE 1 - Bulgaria’s July Consumer Prices Rise 1.5% M/M Aug 12, 2008, 10:48 CET | Story | SeeNews (adds details) link

Bulgaria’s July Consumer Prices Rise 1.5% M/M - Table Aug 12, 2008, 10:18 CET | Story | SeeNews SOFIA (Bulgaria), August 12 (SeeNews) - Bulgaria’s consumer prices rose by 1.5% month-on-month in July, after falling by a monthly 0.2% in June, the National Statistics Office said on Tuesday. link

BULGARIA’S JULY EU HARMONISED INFLATION AT 1.4% M/M, 14.4% Y/Y VS. 0.5% M/M, 14.7% Y/Y IN JUNE – STATS OFFICE Aug 12, 2008, 10:11 CET | Alert | SeeNews link

BULGARIA’S JULY CONSUMER PRICES UP 1.5% M/M, RISE 14.5% Y/Y - STATS OFFICE Aug 12, 2008, 10:03 CET | Alert | SeeNews link

Burgas-Alexandroupolis Oil Pipeline To Cost 30% More than Initially Estimated - Media Aug 12, 2008, 09:50 CET | Story | SeeNews SOFIA (Bulgaria), August 12 (SeeNews) – The costs on the construction of the Burgas-Alexandroupolis pipeline designed to carry Russian crude oil from the Black Sea to the Aegean will most likely exceed 1.2 billion euro ($1.8 billion), nearly a third more than initial estimates, a Bulgarian daily reported on Tuesday. link

Elana - Bulgaria Daily Report - Aug 11, 2008 Aug 12, 2008, 09:50 CET | Broker’s Report | SeeNews market highlights link

Bulgarian Stock Exchange - Daily Bulletin, Selected Announcements - Aug 11, 2008 Aug 12, 2008, 09:27 CET | Specialists Reports | SeeNews Eurohold Bulgaria AD-Sofia /4EH/ submitted to X3 News the following information:The Commercial Register to the Registry Agency registered on 10.08.2008 the increase in capital of Euroins Insurance Group to BGN 239,462,800 through a monetary contribution on amount of BGN 48,181,800. Changes in the Board of Directors were also registered.The entire notification is available on link link

Bulgarian Stock Exchange - Daily Report - Aug 11, 2008 Aug 12, 2008, 09:04 CET | Specialists Reports | SeeNews The Bulgarian Stock exchange has published its report on turnover and prices for August 11, 2008. link

Bulgaria Schedule of Events - Aug 12 - Nov 25 Aug 12, 2008, 09:00 CET | Story | SeeNews SOFIA (Bulgaria), August 12 (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

* Croatia *

Hungary’s MOL Seeks Approval To Place Takeover Bid for Croatia’s INA - Croatian Financial Watchdog Aug 12, 2008, 18:21 CET | Story | SeeNews ZAGREB (Croatia), August 12 (SeeNews) - Hungarian oil and gas company MOL on Tuesday requested the Croatian financial watchdog HANFA to endorse its plan to place a takeover bid for its Croatian peer INA, HANFA said. link

HUNGARIAN OIL/GAS COMPANY MOL SUBMITS TAKEOVER BID FOR CROATIA’S INA – CROATIAN FINANCIAL WATCHDOG Aug 12, 2008, 17:00 CET | Alert | SeeNews link

Croatia’s H1 Construction Projects’ Value Falls 11.1% Y/Y Aug 12, 2008, 15:57 CET | Story | SeeNews ZAGREB (Croatia), August 12 (SeeNews) - The value of construction projects covered by building permits issued in Croatia in the first six months of 2008 fell to 12.93 billion kuna ($2.7 billion/1.8 billion euro) from 14.54 billion kuna a year earlier, the State Statistics Bureau said on Tuesday. link

Croatia’s July Jobless Numbers Down 1.1% M/M - Table Aug 12, 2008, 13:46 CET | Story | SeeNews ZAGREB (Croatia), August 12 (SeeNews) - The number of people unemployed in Croatia in July fell by 1.1% month-on-month to 219,747, the Croatian Employment Service said on Tuesday. link

Erste Securities - Croatian Equity Daily - Aug 12, 2008 Aug 12, 2008, 10:26 CET | Broker’s Report | SeeNews Highlights: link

FIMA Stock Monitor - Daily Report - Aug 11, 2008 Aug 12, 2008, 10:07 CET | Broker’s Report | SeeNews Daily comment:Domestic capital market started the week with below average turnover of only HRK 21,6 million while popular benchmark declined 0,1%. Oil and gas company Ina (INA-R-A) continues to be in investor’s focus topping the liquidity board with HRK 8,7 million in turnover followed by 0,1% price decrease. Zadar based shipping company Tankerska plovidba (TNPL-R-A) posted H1 result. Company managed to improve the profitability despite 3,6% decline in sales as a result of 58% (HRK 26,3 million) decrease of other sales. Due to the 8% decrease of operating expenses, with raw material costs and depreciation being decreased 6,9% and 6,8% respectively, EBIT and EBITDA increased 5,9% and 1,7%, respectively. Corresponsive margins also increased with EBIT margin gaining 310 bps while EBITDA margin increased by 260 bps. Bottom line increased 4,1% to HRK 156,9 million giving H1 EPS of HRK 250,5. TNPL closed at HRH 3.450, 1,5% up, collecting HRK 0,3 million in turnover. Even though the BDI index dropped another 2% today to 7.055 pts Croatian shipping companies delivered mixed performance with Atlantska plovidba (ATPL-R-A) gaining 0,5% while Jadroplov (JDPL-R-A) lost 0,7% and Uljanik plovidba (ULPL-R-A) price remained unchanged. BDI index has been falling since 10th of July and is currently at levels last seen at the end of February. After recent speculations of Agrokor’s possible entrance into the Russian retail store market, largest domestic retail chain Konzum (KNZM-R-A) added 4% to end at HRK 233. link

Croatia Schedule of Events – Aug 12-Oct 14 Aug 12, 2008, 09:12 CET | Story | SeeNews ZAGREB (Croatia), August 12 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Croatia through October 14. New or amended entries are marked (*). link

* Macedonia *

Macedonian Textile Company Makoteks Turns to H1 Prelim Net Profit - Table Aug 12, 2008, 14:35 CET | Story | SeeNews SKOPJE (Macedonia), August 12 (SeeNews) - Macedonian textile company Makoteks A.D. said on Tuesday it turned to a first-half preliminary net profit of 1.61 million denars ($39,500/26,500 euro) from a pre-tax loss of 7.23 million denars a year earlier. link

Macedonian Construction Company Granit H1 Prelim Net Profit More Than Triples - Table Aug 12, 2008, 13:36 CET | Story | SeeNews SKOPJE (Macedonia), August 12 (SeeNews) - Granit AD Skopje, a leading Macedonian construction company, on Tuesday said its first-half preliminary net profit more than tripled to 180.32 million denars ($4.42 million/2.96 million euro). link

MACEDONIAN CONSTRUCTION FIRM GRANIT SAYS H1 PRELIM NET PROFIT MORE THAN TRIPLES TO 180.32 MLN DENARS (2.96 MLN EURO) Aug 12, 2008, 13:19 CET | Alert | SeeNews link

Macedonia Schedule of Events August 12 - Nov 14 Aug 12, 2008, 09:40 CET | Story | SeeNews SKOPJE (Macedonia), August 12 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Macedonia through November 14. New or amended entries are marked (*) link

Macedonian Stock Exchange - Daily Report - Aug 11, 2008 Aug 12, 2008, 09:11 CET | Specialists Reports | SeeNews The Macedonian Stock exchange has published its report on turnover and prices for August 11, 2008. link

* Moldova *

Moldova’s 7-mo Customs Revenue Up 25% - Table Aug 12, 2008, 15:41 CET | Story | SeeNews CHISINAU (Moldova), August 12 (SeeNews) - Moldova collected 5.5 billion lei ($573 million/384 million euro) in customs duties through July, up 25% from a year earlier, the country’s Customs Service said on Tuesday. link

Moldova Sells 45.1 Mln Lei (3.1 Mln Euro) in T-Bills, Yields Mostly Down Aug 12, 2008, 15:18 CET | Story | SeeNews CHISINAU (Moldova), August 12 (SeeNews) - The Moldovan central bank, BNM, on Tuesday sold 45.1 million lei ($4.7 million/3.1 million euro) in three Treasury bill issues, slightly above its target offer of 45 million lei, as yields fell on two of the issues and rose on the third one. link

Moldova’s FinComBank H1 Net Profit More than Doubles Aug 12, 2008, 13:12 CET | Story | SeeNews CHISINAU (Moldova), August 12 (SeeNews) - The first-half net profit of Moldovan commercial bank FinComBank more than doubled to 36.8 million lei ($3.8 million/2.5 million euro), the bank said on Tuesday. link

World Bank Grants Moldova $7.0 Mln to Improve Nutritition Aug 12, 2008, 13:06 CET | Story | SeeNews CHISINAU (Moldova), August 12 (SeeNews) – The World Bank granted on Tuesday $7.0 million (4.7 million euro) to Moldova to help the country face an ongoing food crisis and improve nutrition. link

Moldova Awards 3G Licence to Wireless Operator Orange Aug 12, 2008, 12:08 CET | Story | SeeNews CHISINAU (Moldova), August 12 (SeeNews) – Moldova has granted an $8.0 million (5.3 million euro) third-generation (3G) wireless licence to the country’s largest mobile operator Orange, the Moldovan telecoms regulator, ANRCETI, said on Tuesday. link

Moldova Schedule of Events - Aug 12 - Oct 8 Aug 12, 2008, 10:19 CET | Story | SeeNews CHISINAU (Moldova), August 12 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Moldova through October 8. New or amended entries are marked (*) link

* Montenegro *

New Securities Exchange of Montenegro - Daily Report - Aug 11, 2008 Aug 12, 2008, 09:24 CET | Specialists Reports | SeeNews The New Securities exchange of Montenegro (NEX) has published its daily report on trading volumes and prices for August 11, 2008. link

New Securities Exchange of Montenegro - Daily Report - Aug 8, 2008 Aug 12, 2008, 09:19 CET | Specialists Reports | SeeNews The New Securities exchange of Montenegro (NEX) has published its daily report on trading volumes and prices for August 8, 2008. link

* Romania *

Romanian Home Appliances Maker Arctic H1 Turnover Down 5.4% Y/Y to 93.6 Mln Euro Aug 12, 2008, 17:55 CET | Story | SeeNews BUCHAREST (Romania), August 12 (SeeNews) - Romanian home appliances manufacturer Arctic, majority-owned by Turkey’s Arcelik, reported on Tuesday a first-half turnover of 93.6 million euro ($139.6 million), down from 99 million euro a year earlier. link

Romanian Textile Firm Siretul Pascani Turns to Slim H1 Profit - Table Aug 12, 2008, 17:37 CET | Story | SeeNews BUCHAREST (Romania), August 12 (SeeNews) - Romanian clothing and textile firm Siretul Pascani on Tuesday reported a first-half net profit of 62,100 lei ($26,000/17,500 euro), compared to a 844,100 lei loss a year earlier. link

Romanian Bourse Falls in Correction Aug 12, 2008, 17:32 CET | Story | SeeNews BUCHAREST (Romania), August 12 (SeeNews) - Romanian stocks declined on Tuesday in a correction after two weeks of moderate gains, brokers said. link

Romanian Oil Industry Equipment Maker Energopetrol H1 Net Profit Slumps Y/Y - Table Aug 12, 2008, 16:53 CET | Story | SeeNews BUCHAREST (Romania), August 12 (SeeNews) - Energopetrol, a Romanian producer of equipment for the oil industry, on Tuesday reported a first-half net profit of 5,886 lei ($2,480/1,663 euro), compared to a net profit of 101,041 lei a year earlier. link

Romanian Leu Ends Stronger vs Euro as O/N Rates Rise Aug 12, 2008, 16:27 CET | Story | SeeNews BUCHAREST (Romania), August 12 (SeeNews) - Romania’s leu on Tuesday climbed back to its last week’s closing level of 3.5320/5360, ending stronger than 3.5675/5725 a day earlier against the euro, as rising overnight rates made it attractive to investors, dealers said. link

Bucharest Stock Exchange - Monthly Bulletin, July 2008 Aug 12, 2008, 15:53 CET | Specialists Reports | SeeNews I. INTRODUCTION link

Romanian Institute of Statistics - Monthly Statistical Bulletin - June 2008 Aug 12, 2008, 15:44 CET | State Agencies Reports | SeeNews The Romanian National Institute of Statistics has released its monthly statistical bulletin for June 2008 containing the following chapters: link

Romanian National Institute of Statistics - Industry Statistical Bulletin - June 2008 Aug 12, 2008, 15:37 CET | State Agencies Reports | SeeNews The Romanian National Institute of Statistics has published its monthly industry Statistical Bulletin for June 2008. link

Romanian Institute of Statistics - Consumer Price Index - July 2008 Aug 12, 2008, 15:29 CET | State Agencies Reports | SeeNews Consumer Price Index in July 2008 link

Romanian National Bank - Annual Report - 2007 Aug 12, 2008, 15:17 CET | State Agencies Reports | SeeNews Romanian National Bank has published its annual report for 2007. link

Romania To Postpone Romtelecom Listing to 2009 due to Unfavourable Market Conditions - Media Aug 12, 2008, 13:58 CET | Story | SeeNews BUCHAREST (Romania), August 12 (SeeNews) – Romania will postpone for 2009 the planned listing of a stake in its leading fixed-line operator Romtelecom because of the unfavourable market conditions, private news agency Mediafax quoted Telecommunications Minister Karoly Borbely as saying on Tuesday. link

Ieba Trust - Company Pager - BRD-GSG - Aug 12, 2008 Aug 12, 2008, 13:42 CET | Broker’s Report | SeeNews Company Description link

Romania’s BCR Leasing Raises H1 Financing of Goods Purchases by 65% to 291 Mln Euro Aug 12, 2008, 12:26 CET | Story | SeeNews BUCHAREST (Romania), August 12 (SeeNews) - The leasing unit of Romania’s largest bank by assets, Banca Comerciala Romana (BCR), said on Tuesday it financed the purchases of goods worth 291 million euro ($436.8 million) in the first six months of 2008, up 65% from a year earlier. link

STOCKWATCH - RCI Keeps SocGen’s Romanian Bank at ’Buy’, Puts Target Price under Review Aug 12, 2008, 12:20 CET | Analysis | SeeNews BUCHAREST (Romania), August 12 (SeeNews) - Raiffeisen Capital & Investment (RCI) on Tuesday said it keeps its ’Buy’ recommendation for Societe Generale’s Romanian unit BRD-GSG, but places under review its target price of 27.1 lei ($11.4/7.6 euro), after the bank reported its first-half results. link

Ieba Trust - Romanian Market Daily - Aug 11, 2008 Aug 12, 2008, 10:15 CET | Broker’s Report | SeeNews BSE indices posted slight increases on the back of a low turnover link

Raiffeisen Capital & Investment - Investment Daily Romania - Aug 12, 2008 Aug 12, 2008, 10:01 CET | Broker’s Report | SeeNews In the newsMacroeconomic dataThe National Statistics Institute (INSSE) released yesterday some key macroeconomic indicators. Monthly inflation rate came in at 0.7% mom in July, below the market expectations of 0.9% mom. The annual rate of inflation increased from 8.6% yoy in June to 9.04% yoy in July. The main drivers of consumer prices were increases in administered prices (electricity tariffs were hiked by 4.5% on 1 July, while gas prices increased by 12.5% on 1 July). Leu appreciation triggered a decreased in services prices (-0.3% mom), while good crop triggered a decrease in food prices (-0.68% mom).Romania’s January-June trade deficit widened by 11.3% yoy to EUR 10.8 bn. CIF imports increased 15.3% yoy to EUR 27.5 bn, while exports were up 18.1% to EUR 16.8 bn.Azomures 2Q 2008 resultsFertilizer producer Azomures (AZO) released yesterdaystrong 2Q 2008 results (under RAS). The company posted an impressive 86% yoy and 34% qoq increase in turnover to RON 339 mn (EUR 94 mn), on the back of both higher fertilizer prices and sales volume. The spectacular evolution of its top line proves once again that AZO is able to benefit from the favorable sector environment characterized by record high fertilizer prices. COGS increased by 13% to RON 218 mn (EUR 60.6 mn), driven by raw material prices which were up 78% to RON 182 mn (EUR 50.5 mn). The management claims that the increase in gas prices during the last quarter was partially offset by lower cost of inventories of raw material at end of 1Q 08. Salaries expenses climbed by a moderate 10% yoy to RON 17.3 mn (EUR 4.8 mn). EBIT amounted to RON 92.6 mn (EUR 25.7 mn) vs. an operating loss of RON 1.5 mn in 2Q 07, while the operating margin improved to 27.3% from 25.9% in 1Q 08 (or 12.2% in 4Q 07).Financial items had a small negative impact on the bottom line, which came in at RON 77 mn (EUR 21.4 mn), up 40% qoq and above our estimates of RON 58 mn (EUR 16 mn). Net profit margin improved to 22.8% vs. 21.7 % in 1Q 08.1H 08 turnover climbed 55% yoy to RON 592 mn (EUR 165 m while the net profit stood at RON 132 mn (EUR 37 mn) vs. a loss of RON 6.1 mn (EUR 1.8 mn) in 1H 07.We see the results positive as we believe that AZOs reportedresults surprised even those with the most optimist estimates. Based only on the 1H 08 reported figures, AZO currently trades at a trailing 12-months P/E of 2.9 and P/Sales of 0.45.Turism Felix 2Q 2008 resultsThe tourism operator Turism Felix (TUFE) reported its 2Q 2008 results. The turnover reached RON 13.3 mn, up 16% yoy. Materials and utilities expenses fell 40% yoy to RON 2.1 mn while salaries stood at RON 3.9 mn, flat yoy. Depreciation expense edged 40% yoy higher to RON 1.2 mn and third parties expenses hiked 27% yoy to RON 1.5 mn. Operating profit amounted to RON 3.5 mn, from RON 0.8 mn in 2Q 2007, while over 1Q 2008 the company reported operating losses of RON 3.1 mn. Net profit over 2Q 2008 reached RON 3.4 mn, 36% higher yoy. Over the first six months of 2008, the turnover came in at RON 19.1 mn, up 14% yoy a nd net profit stood at RON 0.2 mn, from RON 1.6 mn in 1H 2007 when it was boosted by a RON 2.3 mn financial gain.Condmag 2Q 2008 resultsIndustrial contractor Condmag (COMI) released its 2Q 2008 results. The turnover amounted to RON 30.6 mn, flat yoy. On the costs side, raw materials expenses stood at RON 10.3 mn, 15% higher yoy, salaries went to RON 7.8 mn, up almost 40% yoy while third parties expenses fell 35% to RON 7.3 mn. Operating profit amounted to RON 6.1 mn, 3x higher yoy and net profit climbed 2.8x to RON 5.1 mn. Over 1H 2008, the turnover rose 23% to RON 60.7 mn and the bottom line stood 3.4x higher at RON 6.5 mn. Coremar 1H 08 results (positive)The sea towing company Coremar (REMO) has released its 1H 08 results, posting a 30%yoy rise of its turnover to RON 14.3 mn. The main cost driver, the salaries expenses, stayed flat at RON 6.1 helping the operating profit to come in 168% yoy higher to RON 2.9 mn. Net profit for the first half of the year stood at RON 2.8 mn , up 180% on corresponding period of previous year. link

Ieba Trust - Romanian Market Weekly - Aug 4 - 8, 2008 Aug 12, 2008, 09:39 CET | Broker’s Report | SeeNews 1A. Bucharest Stock exchange Indicators link

Romanian Railroad Equipment Maker VAE Apcarom H1 Net Profit Falls 3.4% - Table Aug 12, 2008, 09:26 CET | Story | SeeNews BUCHAREST (Romania), August 12 (SeeNews) - Romanian railroad equipment manufacturer VAE Apcarom on Tuesday reported a net profit of 1.697 million lei ($702,600/473,200 euro) for the first half of 2008, compared to 1.756 million lei a year earlier. link

Romania Schedule of Events - Aug 12 - Sept 26 Aug 12, 2008, 08:59 CET | Story | SeeNews BUCHAREST (Romania), August 12 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Romania through September 26. New or amended entries are marked (*). link

Bucharest Stock Exchange - Daily Report - Regulated Market - Aug 11, 2008 Aug 12, 2008, 08:58 CET | Specialists Reports | SeeNews The Bucharest Stock exchange has published its report on trading volumes and prices on the regulated market for August 11, 2008. link

Bucharest Stock Exchange - Daily Report - RASDAQ Market - Aug 11, 2008 Aug 12, 2008, 08:54 CET | Specialists Reports | SeeNews The Bucharest Stock exchange has published its RASDAQ daily market report for August 11, 2008. link

* Serbia *

Belgrade Shares Close Higher, Agriculture Company Moravica Lifts Daily Turnover Aug 12, 2008, 17:46 CET | Story | SeeNews BELGRADE (Serbia), August 12 (SeeNews) - Belgrade Stock Exchange (BELEX) indices closed higher on Tuesday with agriculture company Moravica boosting the bourse’s daily turnover, brokers said. link

Serbian Oil Monopoly NIS To Triple Net Profit to 300 Mln Euro in 2008 - Media Aug 12, 2008, 17:24 CET | Story | SeeNews BELGRADE (Serbia), August 12 (SeeNews) - Serbian oil monopoly Naftna Industrija Srbije (NIS), in which Russian gas giant Gazprom is buying a 51% stake, will triple its net profit to some 300 million euro ($447 million) in 2008 thanks to record high revenue in the first half of the year and increased global oil prices, Serbian daily Glas Javnosti reported on Tuesday. link

Serbian ABS Minel FEPO Plans to Triple Turnover to 4.0 Mln Euro in 2008 Aug 12, 2008, 15:40 CET | Story | SeeNews BELGRADE (Serbia), August 12 (SeeNews) - Serbian power equipment manufacturer ABS Minel FEPO plans to triple its turnover to 4.0 million euro ($6.0 million) by the end of 2008 on the back of increasing production capacity, executive manager Nebojsa Grbusic said on Tuesday. link

Serbian Soybean Producer Sojaprotein Becej H1 Net Profit Rises 26.8% Y/Y Aug 12, 2008, 15:38 CET | Story | SeeNews BELGRADE (Serbia), August 12 (SeeNews) - Serbian blue-chip soybean producer Sojaprotein Becej said on Tuesday its net profit rose to 553 million dinars ($10.7 million/7.2 million euro) in the first half of 2008 from 436 million dinars a year earlier. link

SERBIAN SOYBEAN PRODUCER SOJAPROTEIN BECEJ SAYS H1 NET PROFIT UP 26.8% Y/Y TO 553 MLN DINARS (7.2 MLN EURO) Aug 12, 2008, 15:27 CET | Alert | SeeNews link

Serbia Sells Bus Manufacturer Ikarbus to Russia’s Avtodetal Service for 7.2 Mln Euro Aug 12, 2008, 11:46 CET | Story | SeeNews BELGRADE (Serbia), August 12 (SeeNews) – Serbia has sold 39.2% of bus manufacturer Ikarbus to Russian company Avtodetal Service for 7.2 million euro ($10.8 million), the government’s Privatisation Agency said. link

Sinteza Investment Group - Daily Market Wrap Up - Aug 11, 2008 Aug 12, 2008, 11:19 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its daily trading report for August 11, 2008. The report contains an overview of the Serbian Financial market. link

Sinteza Investment Group - Daily Market Wrap Up - Aug 8, 2008 Aug 12, 2008, 11:17 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its daily trading report for August 8, 2008. The report contains an overview of the Serbian Financial market. link

Vojvodjanska Banka - Daily Vobnews - Aug 12, 2008 Aug 12, 2008, 11:10 CET | Broker’s Report | SeeNews Vojvodjanska banka released its Daily Vobnews report for August 12, 2008 containing the following charts and tables: link

UPDATE 1- Kosovo’s June Trade Gap Widens 35% Y/Y to 155.6 Mln Euro Aug 12, 2008, 10:33 CET | Story | SeeNews PRISTINA, August 12 (SeeNews) - Kosovo’s June trade deficit increased by 35% year-on-year to 155.6 million euro ($233.58 million), as imports grew much faster than exports, the Kosovo Statistics Office said on Tuesday. link

UPDATE 1- Kosovo’s July CPI Falls 0.4% M/M, Up 14.1% Y/Y Aug 12, 2008, 10:22 CET | Story | SeeNews (adds details) link

Kosovo’s June Trade Gap Widens 35% Y/Y to 155.6 Mln Euro - Table Aug 12, 2008, 10:13 CET | Story | SeeNews PRISTINA, August 12 (SeeNews) - Kosovo’s June trade deficit increased by 35.2% year-on-year to 155.6 million euro ($233.58 million), as imports grew much faster than exports, the Kosovo Statistics Office said on Tuesday. link

Kosovo’s July CPI Falls 0.4% M/M, Up 14.1% Y/Y - Table Aug 12, 2008, 09:56 CET | Story | SeeNews PRISTINA, August 12 (SeeNews) - The consumer price index (CPI) of Kosovo fell by 0.4% month-on-month in July and was 14.1% higher on the year, Kosovo’s statistics office said on Tuesday. link

Serbia Schedule of Events - Aug 12 - Dec 30 Aug 12, 2008, 09:43 CET | Story | SeeNews BELGRADE (Serbia), August 12 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Serbia through December 30. New or amended entries are marked (*). link

Belgrade Stock Exchange - Daily Report - Aug 11, 2008 Aug 12, 2008, 08:48 CET | Specialists Reports | SeeNews The Belgrade Stock exchange has published its daily report on trading volumes and prices for August 11, 2008 link

* Slovenia *

Slovenian Stock Indices Extend Losses in Tiny Turnover Aug 12, 2008, 17:10 CET | Story | SeeNews LJUBLJANA (Slovenia), August 12 (SeeNews) - Slovenian stock indices fell for a second day running on Tuesday in tiny turnover and with minor changes in the share prices of most blue chips, brokers said. link

Slovenian Port Operator Luka Koper H1 Prelim Group Net Profit Falls 27% Y/Y Aug 12, 2008, 16:16 CET | Story | SeeNews LJUBLJANA (Slovenia), August 12 (SeeNews) - Slovenian port operator Luka Koper on Tuesday reported a group net profit of a preliminary 15.67 million euro ($23.4 million) in the first half of 2008, down from 21.48 million euro a year earlier, when it booked financial gains. link

SLOVENIAN BLUE-CHIP PORT OPERATOR LUKA KOPER H1 GROUP NET PROFIT FALLS TO PRELIM 15.67 MLN EURO FROM 21.48 MLN EURO YR-AGO Aug 12, 2008, 15:35 CET | Alert | SeeNews link

CORRECTED (OFFICIAL) - Moody’s Updates Its Rating Report on Slovenia’s Abanka Aug 12, 2008, 15:30 CET | Story | SeeNews In LJUBLJANA story "Moody’s Confirms Ratings of Slovenia’s Abanka Vipa" dated August 8 please read in the headline "Moody’s Updates Its Rating Report on Slovenia’s Abanka Vipa" to comply with a corrected statement issued by Abanka Vipa at the request of Moody’s. link

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