Centro Studi Europa dell’Est - notiziario del 13.02.2008 - powered by www.seenews.com

NOTIZIARIO DEL 13.02.2008

* ALBANIA *

Canada’s Bankers Petroleum Raises Production from Albanian Oilfield by 12% in 2007 Feb 13, 2008, 14:55 CET | Story | SeeNews TIRANA (Albania), February 13 (SeeNews) - Canadian petrochemical company Bankers Petroleum said on Wednesday it had increased by 12% production from its oilfields in Albania in 2007. link

Albania Sells 11.78 Bln Leks (95 Mln Euro) in T-Bills, Yields Mixed Feb 13, 2008, 10:01 CET | Story | SeeNews TIRANA (Albania), February 13 (SeeNews) - Albania sold 11.78 billion leks ($138.45 million/95.16 million euro) in three Treasury bill issues at an auction on Tuesday where yields were mixed, the central bank said on Wednesday. link

Albania To Start 25.3 Mln Euro Project To Build Homes for Poor Feb 13, 2008, 13:27 CET | Story | SeeNews TIRANA (Albania), February 13 (SeeNews) - Albania said on Wednesday it will start a 25.3 million euro ($36.87 million) project to construct homes for poor people, partially financed through a loan from the Council of Europe Development Bank (CEB). link

Albania Schedule of Events - Feb 13 - May 15 Feb 13, 2008, 09:33 CET | Story | SeeNews TIRANA (Albania), February 13 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Albania through May 15. New or amended entries are marked (*). link

* BOSNIA *

Bosnia Schedule of Events – Feb 13 - May 9 Feb 13, 2008, 10:08 CET | Story | SeeNews SARAJEVO (Bosnia and Herzegovina), February 13 (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 *

Colliers Sees Dynamic Commercial Real Estate Mkt in Bulgaria, Romania, Serbia in 2008 Feb 13, 2008, 16:57 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) – The commercial real estate market in Bulgaria, Romania and Serbia will keep developing dynamically in 2008 after meeting strong demand last year, real estate consultants Colliers International said on Wednesday. link

ANALYST FORECAST – Rising End-Year Consumption, Imports Widen Bulgaria’s C/A Gap in December Feb 13, 2008, 18:47 CET | Analysis | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Bulgaria’s current account gap has widened further in the last month of 2007, as domestic consumption rose around Christmas and the New Year holidays and imports increased to meet end-year demand, analysts said on Wednesday, ahead of the release of official statistics on Friday. link

BSE - Daily Bulletin, Selected Announcements - Feb 12, 2008 Feb 13, 2008, 09:11 CET | Specialists Reports | SeeNews Holding Coop-Yug AD-Sofia, BSE code - HUG, has submitted to BSE-Sofia the following information:Under Decision No 2/06.02.2008 of Sofia City Court has been registered an increase in capital of Coop-Yug Commerce EOOD, 100% owned by Holding Coop-Yug AD. The capital is increased by BGN 495 thousand and is presently BGN 500 thousand. Holding Coop-Yug AD has deposited the prescribed by the law minimum of 70% and the rest will be transferred within two years. link

UBB - Trends in the Wine Sector Development - Feb 2008 Feb 13, 2008, 09:58 CET | Broker’s Report | SeeNews 1. Reform of the wine sector in the European UnionThe European vine-growers impetuously lose market share on account of the active producers from the New World. The buyers more and more often prefer exotic Chilean, Australian and even American wines, which compete with quality and prices the Bulgarian brands, supplied in the European market. Consumption drops, import quickly increases while export grows with slackened pace. Seeking a way out of the crisis and without limiting the wine production budget, Europe is looking for an intelligent way to return its lost market share.The overproduction of wine in the EU is expected toreach almost 13 m. hectoliters per year. On the other hand the budget, which the wine producers have at their disposal amounts to EUR 1.3 billion, but it is not spent efficiently – almost half a billion Euro are spent for processing of wine, for which there is no market. Even in countries where consumption is growing, the wines coming from the New World are often preferred to the European. If no reforms are undertaken, till 2010 the production surplus is expected to reach 15% per year. Under these conditions the European Commission called for encouraging the export, and the member countries to limit vineyards’eradication in erosion and hilly regions.There are around 2,4 million wine producers in the EU in more than half of the member countries. The vineyards take nearly 3,6 million hectares of EU area and 5% of the agricultural production value. EU has a long-term established system for support of the European vine-growing sector. Thanks to the common budget in the sector, producers from the whole EU can make use of the EU support on an equal footing, depending on the separate regions’ specific needs. From the better utilization of the available funds gain all wine producers in the EU, as well as the European consumers, the rural areas and the fans of wine worldwide.The reform in the wine sector in EU will enter into e ffect on August 1, 2008. Within the reform’s framework the wine ducers will have the possibility to use the new funds for incentives, environment protection and modernization of the rural economy. The producers that are uncompetitive can give up this activity, for which they will be compensated, and their land can be used for growing other crops, as they will be requested to maintain the land in good condition in view of ecology. Others may improve the quality of their production using the financial support for restructuring the farms. More funds will be used for stimulation of responsible wine consumption. Elaboration of the labeling rules and implementation of new techniques will lead to a bigger variety of products for the consumers and will reveal more information for them when making a choice. After implementation of the reform all non-efficient measures for market support are to be obliterated. This refers to the financial support for preservation, for export subsidies and subsidies for supplements for dressing the wine. The most pr oblematic among them is the ban for use of sugar or sucrose, as those components are not extracted from the grapes. A number of financial incentives areprovided to encourage the wine producers with no competitive power to root out their vineyards and to leave this sector voluntarily. On the other hand, in order to receive EU subsidies, the vine-growers will be asked to apply certain standards for environment protection. The restriction for planting new vines will be valid till 2013, and 200 hectares of old vines have to be rooted out until then. The idea is for gradual falling away of producers, who do not have market for their wine. The survivors will be able to increase the areas under vine after suspending the restrictions. Simplification and improvement of the labeling rules is planed in order to make easier the identification of the brand. The vintage year and the vine brand will be mandatory on all labels. There will be only two wine classes – table wine and vintage wine. link

Belgian KBC Gets Bulgarian Regulatory Nod To Launch Buyout Bid for EIBank at 56.4 Euro/Share Feb 13, 2008, 12:10 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Bulgaria’s financial regulator on Wednesday gave the green light to Belgian banking and insurance group KBC to launch a buyout bid to minority shareholders in Economic and Investment Bank (EIBank). link

Bulgaria’s Ug Market Fund Management Gets Regulatory Nod To Set up Mutual Fund Feb 13, 2008, 12:30 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Bulgaria’s financial regulator on Wednesday gave the green light to local Ug Market Fund Management to set up and run a mutual fund. link

Spanish Riofisa To Build 270 Mln Euro Multi-Use Centre in Sofia Feb 13, 2008, 14:32 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) – Spanish real estate company Riofisa on Wednesday said it will build a 270 million euro ($394 million) commercial and entertainment centre in Bulgaria’s capital Sofia by 2010. link

Bulgarian National Bank - Weekly Balance Sheet of Issue Dept - Feb 8, 2008 Feb 13, 2008, 14:39 CET | State Agencies Reports | SeeNews The Bulgarian National Bank (BNB) has published the balance sheet of its issue department as of February 8, 2008. link

Bulgartabac Moves To Sell Two Cigarette Factories To Stay Afloat Feb 13, 2008, 14:42 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Bulgarian majority state-owned tobacco company Bulgartabac Holding said on Wednesday it would sell two of its cigarette factories, aiming to stay afloat. link

Bulgarian Brewers Union Jan Sales Down 6.4% Y/Y Feb 13, 2008, 15:15 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Sales of the members of the Union of Brewers in Bulgaria (UBB) fell by 6.4% on the year in January to 194,628 hectolitres of beer, with Carlsberg climbing to the top position with a market share of 35%, data showed on Wednesday. link

Bulgaria’s Burgas and Varna Airports Report Increased Passenger Traffic in Jan 2008 Feb 13, 2008, 16:07 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Bulgaria’s Black Sea airports of Burgas and Varna both increased their passenger traffic in January, German airport manager Fraport, which runs the two, said on Wednesday. link

Bulgaria To Keep 100% Stake in Bulgarian Energy Holding Feb 13, 2008, 17:21 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Bulgaria will keep a 100% stake in Bulgarian Energy Holding, which will hold stakes in five state-run energy companies, the government said on Wednesday. link

UniCredit’s Pioneer To Raise Bulgarian Assets under Management by 50% in 2008 Feb 13, 2008, 17:56 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Bulgarian Pioneer Investments, the fund management arm of Italian bank UniCredit, plans to raise by some 50% assets under its management in Bulgaria, seeking to maintain its leading position in the EU newcomer, a Pioneer Investments official said on Wednesday. link

Bulgarian Blue-chip Resort Operator Albena’s Project Company Plans To Go Public Feb 13, 2008, 18:14 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) – Bulgarian Black Sea resort operator Albena, whose shares are part of the blue-chip index on the local stock market, on Wednesday said its project company Vakancionen Klub Primorsko plans to go public to fund investments. link

EU Urges Bulgaria To Tame Wage Growth To Contain Inflationary Pressures Feb 13, 2008, 15:10 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Bulgaria should tame its wage growth through a prudent public sector wage policy and preserving competitiveness in order to contain inflationary pressures, the European Commission said on Wednesday. link

BULGARIA JAN CPI AT +1.4% M/M, +12.5% Y/Y VS +1.1% M/M, +12.5% IN DEC - STATS OFFICE Feb 13, 2008, 10:32 CET | Alert | SeeNews link

BULGARIA’S JAN EU-HARMONISED CPI AT +1.5% M/M, +11.7% Y/Y VS +1.1% M/M, +11.6% Y/Y IN DEC - STATS OFFICE Feb 13, 2008, 10:33 CET | Alert | SeeNews link

Bulgaria’s Jan Consumer Price Inflation Quickens to 1.4% M/M - Table Feb 13, 2008, 10:52 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Bulgaria’s consumer prices rose by a preliminary 1.4% month-on-month in January, after rising by a monthly 1.1% in December, the National Statistics Institute (NSI) said on Wednesday. link

UPDATE 1 - Bulgaria’s Jan Consumer Price Inflation Quickens to 1.4% M/M Feb 13, 2008, 13:19 CET | Story | SeeNews (adds details) link

Elana - Bulgaria Daily Report - Feb 12, 2008 Feb 13, 2008, 09:24 CET | Broker’s Report | SeeNews MARKET HIGHLIGHTSThe market stayed in the recent range after a volatile session in modest volumes. Around 65% from the companies in main indices closed slightly down after low trading activity. Moreover, most of speculators stayed aside from the market. Enemona (ENM: 20.40; -1.69%) was the most traded position for consecutive session. The company was under selling pressure during the session but the buying offers returned and boosted ENM. Industrial Holding Bulgaria (IHLBL: 7.90; -0.368%) declined but in tight range. A second day for losses of First Investment Bank (FIB: 9.90; -1.10%) as well as for Euro Ins (EURINS: 10.78; -2.00%). link

FFBH - Bulgaria Morning Update - Feb 13, 2008 Feb 13, 2008, 11:04 CET | Broker’s Report | SeeNews MARKET WRAP-UPWe saw a quite boring session on Tuesday. Volumes stayed far bellow the average again and no aggressive buyers or sellers were present. At the end SOFIX 1410.63 (-0.81%) closed bellow the line after the down moves from M+S Hydraulics (MCH, BGN 11.00, -5.98%), Petrol (PET, BGN 6.75, -3.42%) and Euroins Insurance (EURINS, BGN 10.55, -4.09%). BG40 registered a minor increase to 400.84 bps (+0.15%) supported mainly by Fazerles (FZLES, BGN 225.00, +4.17%) where only 126 shares changed hands during the day. The total return index BGTR30 declined 0.55% to 912.27 bps with the major moves coming again from EURINS, MCH and PET. Vouchers moved in opposite directions as PKB advanced 5.81% to BGN 0.4550, KZ moved 1.16% up to BGN 0.4350 and GKZ lost 1.12% to BGN 0.44. link

Most Bulgarian Stock Indices End Higher, Positive Mood Seen Returning Feb 13, 2008, 17:37 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Most of the share indices of the Bulgarian Stock Exchange (BSE) ended higher on Wednesday and a positive mood is likely to prevail on the market until the end of the week, dealers said. link

Bulgaria Schedule of Events - Feb 13 – May 17 Feb 13, 2008, 09:00 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) - Following is a schedule ofcorporate, economic and political events taking place in, or related to,Bulgaria through May 17. New or amended entries are marked (*). link

* CROAZIA *

INTERVIEW: SEE Markets Could Firm in 2008 Despite Present Gloom Feb 13, 2008, 15:50 CET | Interview | SeeNews ZAGREB (Croatia), February 13 (SeeNews) - Despite recent drops caused by fears of a possible U.S. recession and a consequent global economic slowdown, the capital markets of Croatia, Serbia and Bosnia could firm later this year as in the longer run they remain attractive investment targets, a financial consultant said. link

Croatian Plastic Goods Maker AD Plastik Expects To Triple Net Profit in 2008 Feb 13, 2008, 17:03 CET | Story | SeeNews ZAGREB (Croatia), February 13 (SeeNews) - Croatian plastic goods maker AD Plastik said on Wednesday it expects to triple its net profit this year from a preliminary consolidated net profit of over 12 million kuna ($2.4 million/ 1.7 million euro) in 2007. link

Allianz Zagreb ’07 Gross Profit Down Y/Y But Higher Than Planned, Says Premiums Outperform Mkt Feb 13, 2008, 17:42 CET | Story | SeeNews ZAGREB (Croatia), February 13 (SeeNews) – Allianz Zagreb, Croatian unit of the German Allianz financial group, on Wednesday reported a gross 2007 profit of 46.9 million kuna ($9.4 million/6.5 million euro), down some 6.0% on the year but far above its plans, and said its premium income grew twice as fast as the overall domestic market. link

FIMA Stock Monitor - Daily - Feb 12, 2008 Feb 13, 2008, 09:20 CET | Broker’s Report | SeeNews Daily comment:Investors on Croatian capital market today saw the movement in only one direction: up. In first 45 minutes of trading popular benchmark gained 120 pts after which it continued to grow and ended the day at 4180.9 pts, daily increase of 4,1%. Heavy constructor and power trunk producer Dalekovod (DLKV-R-A) topped the liquidity board with turnover of HRK 9 million while its price soared 8,9%. Among millionaires, convenience store chain Tisak (TISK-R-A) recorded the biggest increase gaining 15,6%. Share of construction consultancy company IGH (IGH-R-A) added 7,6%. During the correction, IGH released a set of good news but declining market did not react to them. Together with the Russian Engineering Academy, IGH recently established a construction consultancy in Russia. Shortly after that, Co signed six contracts with Russian construction company SKM and agreed to start 3 JV situated in Zagreb and Moscow. Port operator Luka Ploce (LKPC-R-A) share collected HRK 1,8 mil lion in turnover. After failed recapitalization in January this security acted with increased volatility which did not change today as its price rose 11,1%. Another port operator, Luka Rijeka (LKRI-R-A), increased significantly as its price jumped by 15%. Increasing transit shall result with improved Co’s performance, as it is oriented on one of the most profitable niches (container cargo). Dueto the fact Djakovstina (DKVS-R-A) was also among today`s risers as investors awarded Governments attention to make a debt to equity swap and to increase its stake from 8,0% to 30,7%. The share capital will be increased by HRK 78,2 million through issuance of 260.676 new shares. Đakovstina rose by 3,3% to HRK 199,98 on minimum turnover. that domestic market is event driven, it is reasonable to expect buy pressure on Port of Rijeka share and return to the all-time high levels. Rising market and growing BDI pulled up companies from shipping sector. Share of Atlantska plovidba (ATPL-R-A) increased by 7,9%, Uljanik plovidba (ULPL-R-A) by 4,7%, and Zad based Tankerska plovidba (TNPL-R-A) by 3,7%. link

Croatian Shares Fall Back in Heavy Turnover in Another Volatile Trading Session Feb 13, 2008, 18:25 CET | Story | SeeNews ZAGREB (Croatia), February 13 (SeeNews) - Croatian share indices fell back on Wednesday in heavy turnover in another volatile trading session although indices on some leading world stock exchanges rose, brokers said. link

Croatia Schedule of Events – Feb 13 – May 17 Feb 13, 2008, 09:21 CET | Story | SeeNews ZAGREB (Croatia), February 13 (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 (*). link

Croatia C-Bank Approves Less than Half of Bids in Revrepo Auction, Weighted Rate Rises Feb 13, 2008, 13:09 CET | Story | SeeNews ZAGREB (Croatia), February 13 (SeeNews) - The Croatian central bank said on Wednesday it approved bids for Treasury bills worth 777 million kuna ($156.01 million / 106.9 million euro) out of a total 2.007 billion kuna bids placed in a reverse repo auction, as the weighted repo rate rose. link

* MACEDONIA *

Macedonia’s 2007 Tourist Numbers Up 7.4% - Table Feb 13, 2008, 15:37 CET | Story | SeeNews SKOPJE (Macedonia), February 13 (SeeNews) - The number of tourists in Macedonia in 2007 rose by 7.4% on the year to 536,212, the Statistics Office said on Wednesday. link

Macedonia Schedule of Events - Feb 13 - Nov 28 Feb 13, 2008, 09:58 CET | Story | SeeNews SKOPJE (Macedonia), February 13 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in, or related to Macedonia through November 28. New or amended entries are marked (*). link

Macedonian C-bank Absorbs 5.047 Bln Denars (81.9 Mln Euro) in 28-day Repo Funds Feb 13, 2008, 14:40 CET | Story | SeeNews SKOPJE (Macedonia), February 13 (SeeNews) - Macedonia’s central bank, NBRM, on Wednesday said it absorbed 5.047 billion denars ($119.4 million/81.9 million euro) in 28-day repo funds from the banking system. link

* MOLDOVA *

Moldova’s Comertbank Net Profit Down 30% in 2007 - Table Feb 13, 2008, 12:02 CET | Story | SeeNews CHISINAU (Moldova), February 13 (SeeNews) - Moldovan commercial bank Comertbank reported on Wednesday a 30% fall in its net profit last year to 14 million lei ($1.3 million/860,000 euro). link

Moldova Sells 12.1 Mln Lei (741,100 Euro) in 2-yr T-Notes Feb 13, 2008, 14:26 CET | Story | SeeNews CHISINAU (Moldova), February 13 (SeeNews) - Moldova’s central bank, BNM, said it sold 12.1 million lei ($1.1 million/741,100 euro) worth of two-year Treasury notes on Wednesday, below its target of 15 million lei. link

MOLDOVA’S END-2007 GROSS FOREIGN DEBT RISES TO $3.24 BLN FROM $2.52 BLN YR AGO - C-BANK Feb 13, 2008, 15:41 CET | Alert | SeeNews link

Moldova’s Gross Foreign Debt Rises to $3.24 Bln at end-2007 - Table Feb 13, 2008, 15:47 CET | Story | SeeNews CHISINAU (Moldova), February 13 (SeeNews) - Moldova’s foreign debt rose to $3.24 billion (2.2 billion euro) at the end of last year from $2.52 billion a year earlier, the country’s central bank, BNM, said on Wednesday. link

Moldova Retail Sales Rise Real 10.5% in 2007 Feb 13, 2008, 16:05 CET | Story | SeeNews CHISINAU (Moldova), February 13 (SeeNews) - Moldova’s retail sales rose by a real 10.5% last year to 16.89 billion lei ($1.5 billion/1.03 billion euro), the country’s central bank, BNM, said on Wednesday. link

Moldova Schedule of Events - Feb 13 - May 15 Feb 13, 2008, 10:20 CET | Story | SeeNews CHISINAU (Moldova), February 13 (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

Moldova To Shut Down Industry Ministry As Part of Reforms Feb 13, 2008, 17:06 CET | Story | SeeNews CHISINAU (Moldova), February 13 (SeeNews) – The Moldovan government on Wednesday decided to shut down its Industry and Infrastructure Ministry with the Economy Ministry taking over its functions. link

* MONTENEGRO *

Telenor’s Montenegrin Unit 2007 EBITDA Up 9.8% to 337 Mln Norwegian Crowns (42 Mln Euro) Feb 13, 2008, 12:39 CET | Story | SeeNews PODGORICA (Montenegro), February 13 (SeeNews) - ProMonte, the Montenegrin unit of Norway’s biggest telecommunications group Telenor, reported a rise of 9.8% to 337 million Norwegian crowns ($62 million/42 million euro) in its earnings before depreciation, amortisation and impairment charges (EBITDA) in 2007, Telenor said on Wednesday. link

Montenegro Invites Bidders for Mountain Resort Development Feb 13, 2008, 17:24 CET | Story | SeeNews PODGORICA (Montenegro), February 13 (SeeNews) - Montenegro is seeking investors to develop and manage an exclusive resort on scenic Mount Durmitor, the country’s privatisation agency said on Wednesday. link

Montenegro Invites Investors to Express Interest in Creating Upmarket Adriatic Seaside Resort Feb 13, 2008, 18:16 CET | Story | SeeNews PODGORICA (Montenegro), February 13 (SeeNews) – The Montenegrin privatisation agency on Wednesday invited investors to express interest in creating a world-class multiple use resort on its Adriatic coast. link

* ROMANIA *

Colliers Sees Dynamic Commercial Real Estate Mkt in Bulgaria, Romania, Serbia in 2008 Feb 13, 2008, 16:57 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) – The commercial real estate market in Bulgaria, Romania and Serbia will keep developing dynamically in 2008 after meeting strong demand last year, real estate consultants Colliers International said on Wednesday. link

Romania’s Life Insurance Market To Near Three Bln Lei (827 Mln Euro) by End-2010 - Insurers’ Union Feb 13, 2008, 10:32 CET | Story | SeeNews BUCHAREST (Romania), February 13 (SeeNews) - Romania’s life insurance market is set to near three billion lei ($1.2 billion/827 million euro) in gross written premiums by the end of 2010, the country’s insurers union UNSAR said. link

Romania, Netherlands Sign Energy Co-operation Memorandum Feb 13, 2008, 12:51 CET | Story | SeeNews BUCHAREST (Romania), February 13 (SeeNews) - Romania and the Netherlands on Wednesday signed a two-year memorandum for co-operation in the energy sector, Romania’s Agency for Energy Conservation, ARCE, said. link

Banca Carpatica Sets Up Asset Management Arm Feb 13, 2008, 16:34 CET | Story | SeeNews BUCHAREST (Romania), February 13 (SeeNews) - Romanian stock market regulator CNVM has given the green light to commercial bank Banca Carpatica’s asset management arm to start operations, the bank said on Wednesday. link

Romania To Receive 298.5 Mln Euro CEB Loan For Water Management, Flood Prevention Feb 13, 2008, 18:25 CET | Story | SeeNews BUCHAREST (Romania), February 13 (SeeNews) - Romania said on Wednesday it has approved a 298.5 million euro ($434.9 million) loan from the Council of Europe Development Bank (CEB) for a water management and flood prevention project. link

Romanian National Bank - Main Economic Developments - Full Report, Nov 2007 Feb 13, 2008, 13:31 CET | State Agencies Reports | SeeNews The National Bank of Romania BNR has released its November 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. link

Romanian National Bank - Monetary Indicators, Dec 2007 Feb 13, 2008, 13:55 CET | State Agencies Reports | SeeNews Starting January 2007, the National Bank of Romania publishes the monetary indicators according to the definitions used by the European Central Bank.At end-December 2007, broad money (M3) equalled RON147,990.3 million, up 8.7 percent (8.0 percent in real terms) month on month. In year-on-year comparison, broad money rose 33.5 percent, or 25.3 percent in real terms. link

Romanian National Bank - Business Climate Survey, Jan 2007 Feb 13, 2008, 14:47 CET | State Agencies Reports | SeeNews January 2008: Mixed Developments in Industry, Grim Prospects in ConstructionIn January, the estimates of company managers polled by the National Bank of Romania point to diverging trends in key indicators in industry, whereas in construction the prospects are grim, due to unfavourable weather conditions.Industrial output is expected to remain on an upward path, as illustrated by the balance of answers* at 35 percent. Special mention deserves the fact that the upturn will most likely be clouded by the discontinued activity at the turn of the year. The volume of orders in industry is seen remaining broadly unchanged from December 2007, as shown by the balance of answers standing at almost nil. A decrease is envisaged for the output and the order portfolio in construction.January is about to see a renewed increase in stocks of finished goods in industry – this is suggested by the relatively high level of the balance of answers (14 percent). Stocks of raw materials are foreseen to range within normal limits, according to more than 93 percent of the respondents in the industrial sector. In the construction sector, stocks of finished goods are likely to diminish, with the balance of answers dropping to -24 percent, while the stocks of raw materials are set to remain below the normal levels, as the balance of answers was -30 percent in the month under review.The chief factors stymieing output growth in both sectors will be the subdued demand (revealed by 19 percent of respondents), inter-company arrears and the exchange rate movements. link

Romanian INS - Monthly Report, Dec 2007 - Part II Sectorial Evolutions, Industry Feb 13, 2008, 16:20 CET | State Agencies Reports | SeeNews 1. IndustryIn 2007, industrial production keeps its growth trend as against 2006. link

Romanian INS - Monthly Report, Dec 2007 - Part IV Sectorial Evolutions, Trade & Services Feb 13, 2008, 17:05 CET | State Agencies Reports | SeeNews 3. Trade and services3.1. Comparison with the previous monthIn December 2007, the turnover volume of enterprises having as main activity retail (except trade of motor vehicles and motorcycles) increased by 50.4% as against the previous month mainly due to winter holidays of this month. High growthes were registered both for sale of food products (+52.6%) and for sale of non-food products (+49.1%).In December 2007, the turnover volume of enterprises having as main activity wholesale and retail, maintenance and repair of motor vehicles and motorcycles, retail of fuel for motor vehicles was by 2.6% higher than previous month level. Retail sale of fuel registered a growth by 15.0% and trade of motor vehicles a fall by 1.0%.In December 2007, the activity of market services rendered to the population registered a growth by 27.4% as against the previous month.For wholesale, in December 2007, turnover in current prices decreased by lei 500 million as compared to the previous month. In December 2007, the services mainly rendered to the enterprises registered a turnover, in current prices, by lei 556 million higher than the previous month. link

ROMANIA’S JAN JOBLESS RATE EDGES UP TO 4.3% FROM 4.1% IN DEC - GOVT EMPLOYMENT OFFICE Feb 13, 2008, 11:37 CET | Alert | SeeNews link

Romania’s Jan Jobless Rate Edges Up to 4.3% from 4.1% in Dec- Table Feb 13, 2008, 11:53 CET | Story | SeeNews BUCHAREST (Romania), February 13 (SeeNews) - Romania’s unemployment rate edged up to 4.3% in January from 4.1% a month earlier, the government’s employment agency, ANOFM, said on Wednesday. link

Romanian National Bank - International Reserves of Romania C-Bank, Jan 2008 Feb 13, 2008, 14:01 CET | State Agencies Reports | SeeNews Foreign exchange reserves of the National Bank of Romania up EUR 245 million in January At end-January 2008, foreign exchange reserves of the National Bank of Romania ran at EUR 25,552 million.The EUR 245 million increase recorded at the end of the reported month owed to the following:- EUR 1,039.1 million worth of inflows representing the change in the foreign-exchange reserve requirements of commercial banks, incomes from international reserve management, a.s.o.- EUR 794.1 million worth of outflows consisting in principal repayments and interest payments on public and publicly guaranteed external debt, payments out of the account of the European Commission, the change in foreign-exchange reserve requirements of commercial banks, a.s.o.The gold stock stayed at 103.7 tonnes. However, following the developments in the world price of gold, its value surged to EUR 2,072.63 million; as a result, the international reserves of the National Bank of Romania (foreign exchange and gold) stood at EUR 27.62 billion.By the end of 2008, payments due on public and publicly guaranteed external debt will amount to EUR 1,796.80 million. link

Romanian National Bank - Balance of Payments, Jan - Oct 2007 Feb 13, 2008, 14:17 CET | State Agencies Reports | SeeNews In January-November 2007, the balance-of-payments current account posted a deficit of EUR 15,290 million. This development can be ascribed mainly to the wider trade deficit, which amounted to EUR 15,872 million, up 59.2 percent from the same period of the previous year. link

Romania Sells 86.5 Mln Lei (23.8 Mln Euro) in 6-Month T-Bills, Below Target Feb 13, 2008, 15:29 CET | Story | SeeNews BUCHAREST (Romania), February 13 (SeeNews) - Romania on Wednesday sold 86.5 million lei ($34.6 million/23.8 million euro) of six-month T-bills, well below its 500 million lei target offer, the country’s central bank, BNR, said. link

Romanian INS - Monthly Report, Dec 2007 - Part I Main Macroeconomic Indicators Feb 13, 2008, 15:34 CET | State Agencies Reports | SeeNews 1. PricesIn December 2007 as against the previous month, consumer prices increased by 0.6% per total, by 0.9% for food goods, by 0.4% for nonfood goods and by 0.7% for tariffs for services.In the group of food goods, higher increases of prices were registered for eggs (+6.5%), other vegetables and tinned (+2.1%), bread (+1.9%), butter (+1.8%), edible oil (+1.7%) and milk (+1.4%).Decreases of prices in the group of food goods were registered for citrus and other southern fruit (-1.1%) and potatoes (-0.5%).For non-food goods, higher increases of prices were registered for fuels (+1.5%) and cars, accessories and spare parts (+1.1%). The evolution of tariffs for services (+0.7%) was mainly influenced by the increase in tariffs for air transport (+1.8%), phone (+1.6%) and hygiene and cosmetics (+1.5%). Consumer prices increased by 6.6% per total in December 2007 as against December 2006. The highest influence to total growth was done by 9.1% increase in prices for food goods and b y increase with 8.6% for tariffs of services followed by increase in prices for non-food goods by 3.6%.In December 2007, industrial production prices were by 1.6% higher than previous month.Mining and quarrying registered a growth of prices by 3.6% as against November 2007, due to mainly the rise of prices for extraction of hydrocarbons and related services by 5.1%.In manufacturing, prices per total increased by 1.6% as against the level of the previous month; more important rises were registered for: petroleum, coal coking and treatment of nuclear fuels (+4.8%), chemical substances and products (+2.4%), electric machinery and apparatus (+2.1%) and pulp, paper and paper products (+1.9%).The evolution of tarrifs for electric and thermal energy, gas and water (+0.2%) was determined by higher tariffs of production, transport and distribution of electric and thermal power, of gas and water by 0.2% and water collection, purification and distribution by 0.1%.By broad industrial gr oups, in December 2007, as compared to November 2007, the followin ncreases in prices were registered: 2.8% for energy industry, 1.1% for capital goods industry group, intermediate goods industry group, current use goods industry group and 0.7% for durable goods industry group.In comparison with December 2006, industrial production prices registered a growth by 10.5% per total in December 2007.The most dynamic sector was mining and quarrying (+17.8%) followed by manufacturing (+10.6%) and electric and thermal energy, gas and water (+5.2%).By broad industrial groups, the following growths were registered: 13.1% in energy industry, 11.7% in current use goods industry, 10.4% in capital goods industry, 6.9% in intermediate goods industry and 6.4% in durable goods industry. link

Romanian INS - Monthly Report, Dec 2007 - Part III Sectorial Evolutions, Construction Feb 13, 2008, 16:41 CET | State Agencies Reports | SeeNews 2. ConstructionIn December 2007, the construction works registered a growth of 28.2% as against December 2006, this growth being pointed out in all the types of construction, as follows: nonresidential building (+30.9%), residential buildings (+28.1%) and civil engineering (+27.0%).By structure elements, growths represented 45.3% for capital repair works, 36.5% for maintenance and current repair works and 22.8% for new construction works. In December2007, 4170 construction permits were released for residential buildings, by 31.8% less than in the coresponding month of 2006.In 2007, the value of construction works registered a growth by 33.6% as against the previous year. By structure elements, growths represented: 37.4% for maintenance and current repairs works, 36.7% for capital repaires works and 31.3% for new construction works. From the viewpoint of the construction type, the highest growth was registered for non-residential buildings (+36.6%) and for civil engineering (+ 34.0%). link

Ieba Trust - Romanian Market Daily - Feb 12, 2008 Feb 13, 2008, 09:13 CET | Broker’s Report | SeeNews In January, the annualized rate of inflation reached 7.26% link

Raiffeisen Capital & Investment - Investment Daily Romania - Feb 13, 2008 Feb 13, 2008, 09:28 CET | Broker’s Report | SeeNews Trader’s CommentWith a volume slightly higher than in the previous days (above EUR 10 mn) the local stock market closed again negative for the second day of the week. The opening saw a timid rise, but the low liquidity and investors lack of interest dragged down the market, a slight comeback being noticeable in the last half an hour of trading. The rebound came with some large buy orders on SIFs, which cut some of the sellers enthusiasm. Even so, BET-FI fell 1.1%, mainly as SIF3 posted a loss of 2.4%. TLV closed the day flat and BRD depreciated 0.6% on modest trading volumes. link

Erste Securities - Croatian Equity Daily - Feb 13, 2008 Feb 13, 2008, 10:01 CET | Broker’s Report | SeeNews Highlights: link

Romanian National Bank - Developments on Romanian Financial Markets, Feb 4 - 8, 2008 Feb 13, 2008, 10:54 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 February 4 - 8, 2008: link

Investment Funds Fall, Rest of Romanian Bourse Gains Ground Feb 13, 2008, 16:40 CET | Story | SeeNews BUCHAREST (Romania), February 13 (SeeNews) - The Romanian stock market closed mostly higher on Wednesday, except for the index tracking the country’s five regional investment funds, the SIFs, which lost nearly one percent, brokers said. link

Romania Schedule of Events - Feb 13 – May 17 Feb 13, 2008, 09:04 CET | Story | SeeNews BUCHAREST (Romania), February 13 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Romania through May 17. New or amended entries are marked (*). link

Romanian Leu Ends Weaker vs Euro in Low Volume Feb 13, 2008, 17:01 CET | Story | SeeNews BUCHAREST (Romania), February 13 (SeeNews) - Romania’s leu lost ground against the euro on Wednesday in low volume, dealers said. link

* SERBIA *

Colliers Sees Dynamic Commercial Real Estate Mkt in Bulgaria, Romania, Serbia in 2008 Feb 13, 2008, 16:57 CET | Story | SeeNews SOFIA (Bulgaria), February 13 (SeeNews) – The commercial real estate market in Bulgaria, Romania and Serbia will keep developing dynamically in 2008 after meeting strong demand last year, real estate consultants Colliers International said on Wednesday. link

Telenor’s Serbian Unit Posts 1.1 Bln Norwegian Crowns (138 Million Euro) EBITDA in 2007 Feb 13, 2008, 12:20 CET | Story | SeeNews BELGRADE (Serbia), February 13 (SeeNews) - Norwegian telecommunications company Telenor said on Wednesday its Serbian unit had 1.1 billion Norwegian crowns ($201million/138million euro) in operating income before depreciation, amortisation and impairment charges (EBITDA) last year. link

Serbia’s Jan FX Reserves Drop to $15.98 Bln (10.96 Bln Euro) - Table Feb 13, 2008, 13:32 CET | Story | SeeNews BELGRADE (Serbia), February 13 (SeeNews) - Serbia’s foreign exchange reserves held by the country’s central bank and commercial banks fell to $15.98 billion (10.96 billion euro) at the end of January from $16.07 billion at the end of December, the central bank said on Wednesday. link

Serbia’s End-2007 Public Debt Down 5.1% - Table Feb 13, 2008, 14:24 CET | Story | SeeNews BELGRADE (Serbia), February 13 (SeeNews) – Serbia’s public debt totalled 8.86 billion euro ($12.9 billion) at the end of 2007, down from 9.35 billion a year earlier, data from the country’s finance ministry showed on Wednesday. link

Serbia Jan Budget Surplus at 12.7 Bln Dinars (152 Mln Euro) – Fin Min Feb 13, 2008, 15:23 CET | Story | SeeNews BELGRADE (Serbia), February 13 (SeeNews) – Serbia had a budget surplus of 12.7 billion dinars ($222 million/152 million euro) at the end of January, data from the country’s finance ministry showed on Wednesday. link

Vojvodjanska Banka - Daily Vobnews - Feb 13, 2008 Feb 13, 2008, 10:03 CET | Broker’s Report | SeeNews Vojvodjanska banka released its Daily Vobnews Report for February 13, 2008 containing the following charts and tables: link

Serbian Indices Close Lower as Political Uncertainties Determine Market Trend Feb 13, 2008, 16:56 CET | Story | SeeNews BELGRADE (Serbia), February 13 (SeeNews) - Belgrade Stock Exchange (BELEX) indices closed down on Wednesday as wary investors await Kosovo’s imminent independence declaration and Serbia’s reaction to it, brokers said. link

Serbia Schedule of Events - Feb 13 - May 18 Feb 13, 2008, 10:36 CET | Story | SeeNews BELGRADE (Serbia), February 13 (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

Kosovo To Declare Independence Unilaterally on Feb 17 or 18 - Former PM Rexhepi Feb 13, 2008, 12:02 CET | Story | SeeNews PRISTINA (Serbia), February 13 (SeeNews) - Kosovo will unilaterally declare independence from Serbia on Sunday or Monday, former Kosovo premier Bajram Rexhepi told Pristina-based private broadcaster KohaVision. link

Russia, Serbia Call Urgent U.N. Security Council Meeting on Kosovo Feb 13, 2008, 13:37 CET | Story | SeeNews PRISTINA (Serbia), February 13 (SeeNews) - Serbia and its ally Russia have called for an urgent meeting of the U.N. Security Council ahead of Kosovo’s expected unilateral independence declaration on Sunday or early Monday. link

* SLOVENIA *

Slovenian Stocks Bounce Back After Five Days of Losses Feb 13, 2008, 18:36 CET | Story | SeeNews LJUBLJANA (Slovenia), February 13 (SeeNews) - Slovenian stocks bounced back on Wednesday, halting a five-day losing streak but in lower turnover, brokers said. link

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