Centro Studi Europa dell’Est – news report of 26.03.2008 – powered by www.seenews.com

News report of 26.03.2008

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* ALBANIA *

France’s Sagem Securite Wins Concession To Make Albania’s eID Cards, Biometric Passports Mar 26, 2008, 15:06 CET | Story | SeeNews TIRANA (Albania), March 26 (SeeNews) - Albania said on Wednesday it has awarded a concession deal to French biometric technology provider Sagem Securite for the production of its new electronic identification (eID) cards and biometric passports. link

Albania Sells 8.0 Bln Leks (65 Mln Euro) in 6-mo, 12-mo T-Bills; Yields Rise Mar 26, 2008, 15:12 CET | Story | SeeNews TIRANA (Albania), March 26 (SeeNews) - Albania sold 8.0 billion leks ($102 million/64.89 million euro) in two Treasury bill issues at an auction on Wednesday as yields rose, the central bank said. link

ALBANIA’S C-BANK SAYS KEEPS KEY REPO RATE UNCHANGED AT 6.25% Mar 26, 2008, 16:40 CET | Alert | SeeNews link

Albania’s C-Bank Keeps Key Repo Rate Unchanged at 6.25% Mar 26, 2008, 16:52 CET | Story | SeeNews TIRANA (Albania), March 26 (SeeNews) - Albania’s central bank on Wednesday decided to keep its key repo rate unchanged at 6.25% after statistics indicated that February inflation was within the projected limits. link

* BOSNIA *

EU To Call Tenders for Technical Assistance in Reforming Bosnia’s Health, Higher Education Sectors Mar 26, 2008, 10:39 CET | Story | SeeNews SARAJEVO (Bosnia and Herzegovina), March 26 (SeeNews) - The European Commission will call tenders for technical assistance in reforming Bosnia’s health and higher education sectors in the second quarter of this year , it said. link

Bosnian Insurer Drina Osiguranje Raises 2007 Net Profit by 61% - Table Mar 26, 2008, 11:54 CET | Story | SeeNews BANJA LUKA (Bosnia and Herzegovina), March 26 (SeeNews) - Bosnian insurer Drina Osiguranje reported on Wednesday a 61% rise in its 2007 net profit to 2.71 million marka ($2.13 million/1.36 million euro), as its total revenue rose while costs fell. link

Bosnia’s Sole Alumina Plant Birac Turns to Loss in 2007 - Table Mar 26, 2008, 14:15 CET | Story | SeeNews BANJA LUKA (Bosnia and Herzegovina), March 26 (SeeNews) - Bosnia’s sole alumina plant Birac, owned by Lithuanian investment group Ukio Banko, said on Wednesday it has turned to a loss of some 9.5 million marka ($7.5 million/4.7 million euro) in 2007 from a profit of some 26,000 marka a year earlier. link

Bosnia Schedule of Events - March 26 – Nov 2 Mar 26, 2008, 09:25 CET | Story | SeeNews SARAJEVO (Bosnia and Herzegovina), March 26 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Bosnia and Herzegovina through November 2. New or amended entries are marked (*). link

* BULGARIA *

ECONOMIC OUTLOOK - Austria’s Raiffeisen Says Bulgarian Utility, Food Price Rises Jeopardise 8.0% Average Inflation Forecast Mar 26, 2008, 15:59 CET | Analysis | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) - There is a growing risk that Bulgaria’s annual average inflation rate this year will be more than the forecast 8.0% due to expected rises in utility prices and a possible increase in food prices, Austrian banking group Raiffeisen said on Wednesday. link

BSE - Daily Bulletin, Selected Announcements - Mar 25, 2008 Mar 26, 2008, 08:54 CET | Specialists Reports | SeeNews Monbat AD-Sofia, BSE code - MONBAT, has announced through X3 News the following information:"In February, 2008 MONBAT has realized sales to the amount of BGN 19,995,000 which represents a sales growth of 134.62% compared to February, 2007. The summarized data for the first two months of 2008 show that the company has realized incomes to the amount of BGN 39,376,000, which represents a growth of 130.61% compared to the same period of 2007.The company’s profit for February, 2008 is BGN 3,529,000 which represents a profit growth of 231.67% compared to February, 2007. The summarized data for the first two months of 2008 show that the company has realized profit to the amount of BGN 7,415,000 which represents a profit growth of 235% compared to the same period of 2007.The entire notification is available at www.x3news.com. link

Bulgaria’s 2007 Computer Hardware Market Grows 25% to $1.0 Bln – Researcher Mar 26, 2008, 09:17 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) - Bulgaria’s market of computer hardware equipment grew by 25% to $1.0 billion (641 million) last year, as sales of mobile phones, portable computers and video displays surged in the last quarter, Sofia-based market analysts CBN-Pannoff, Stoytcheff & Co said. link

Bulgaria To Cancel 715 Mln Euro Motorway Construction Deal if Concessionaire Fails To Secure Funding by May 18 – Media Mar 26, 2008, 09:51 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) – Bulgaria’s Regional Development Minister Asen Gagauzov said the government will cancel a deal with a Portuguese-led consortium for the construction of a 715 million euro ($1.1 billion) motorway if the concessionaire fails to secure financing for the project, Sofia-based Pari daily reported on Wednesday. link

Australia’s Balkans Gold Reports Significant Gold Assay Results at Bulgarian Site Mar 26, 2008, 12:05 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) - Australian mineral exploration company Balkans Gold on Wednesday reported gold assay results of 1.91 to 5.1 grammes per tonne from five drill holes at its Breznik project in Bulgaria. link

Bulgaria’s Enemona Doubles Planned Investments in Biomass Plants to 179 Mln Euro Mar 26, 2008, 13:19 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) – Bulgarian engineering, construction and energy group Enemona has more than doubled to up to 350 million levs ($282 million/179 million euro) its planned investments in three biomass units by the end of 2014 as demand turned out to be higher than expected, a company official said on Wednesday. link

Bulgaria Offers for Piecemeal Sale Arms Repair Group Terem Mar 26, 2008, 14:58 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) - Bulgaria on Wednesday offered for piecemeal sale majority stakes in the eight plants of its arms repair group Terem. link

Bulgarian Financial Watchdog Approves Bourse Listing of Medical Product Distributor Bioiasis Mar 26, 2008, 15:29 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) - Bulgaria’s financial regulator gave the nod on Wednesday to the bourse listing of medical product distributor Bioiasis. link

Indian Vehicle Maker Mahindra to Enter Bulgarian Market With Two Models Mar 26, 2008, 15:56 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) - Indian vehicle maker Mahindra & Mahindra will enter the Bulgarian market with its Scorpio and Bolero models, its Bulgarian dealer, Daru Car, said on Wednesday. link

Bulgaria’s Advance Equity Holding Aims to More than Double Revenue of Subsidiary Speedy Net in 2008 Mar 26, 2008, 16:10 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) - Bulgarian private equity fund Advance Equity Holding aims to more than double the revenues of its subsidiary, Internet provider Speedy Net, to more than one million levs ($803,600/510,660 euro) in 2008, an official of the holding company said on Wednesday. link

Bulgaria’s Euromarket To Invest 15.3 Mln Euro in Regional Centres by End-2009 Mar 26, 2008, 17:05 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) - Bulgarian retailer of construction and industrial equipment Euromarket said on Wednesday it will invest 30 million levs ($24.1 million/15.3 million euro) in opening six regional trade and service centres in Bulgaria between 2008 and 2009. link

German Retailer Plus Aims To Complete 250 Mln Euro Investment in Bulgaria by 2011 Mar 26, 2008, 18:14 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) - German discount retailer Plus, part of the Tengelmann retail group, plans to complete a 250 million euro ($394 million) investment in Bulgaria by 2011, corporate communications officer Nicole Dinter said on Wednesday. link

Bulgarian National Bank - Monetary and Credit Indicators - Feb 2008 Mar 26, 2008, 11:28 CET | State Agencies Reports | SeeNews In February 2008, broad money (monetary aggregate M3) reached BGN 41.684 billion with an annual growth rate of 29.8% compared to 30.9% in January. Monetary aggregate M1 amounted to BGN 19.590 billion, its annual growth rate being 22.4% compared to 24.6% in January. The annual growth rate of deposits with agreed maturity of up to 2 years was 39.1% compared to 39.4% in January, while the growth rate of deposits redeemable at notice up to 3 months was 28.3% compared to 27.1% for the preceding month. link

BULGARIA’S GROSS FOREIGN DEBT RISES TO 27.407 BLN EURO ($43.125 BLN) AT END-JAN – C-BANK Mar 26, 2008, 13:00 CET | Alert | SeeNews link

CORRECTED - BULGARIA’S GROSS FOREIGN DEBT FALLS (NOT RISES) TO 27.407 BLN EURO ($43.125 BLN) AT END-JAN – C-BANK Mar 26, 2008, 13:06 CET | Alert | SeeNews link

Bulgaria’s Gross Foreign Debt Falls to 27.407 Bln Euro at End-Jan Mar 26, 2008, 13:10 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) - Bulgaria’s gross foreign debt totalled 27.407 billion euro ($43.125 billion) at the end of January, down by 2.5% from the end of 2007, the country’s central bank said on Wednesday. link

Bulgarian National Bank - Gross External Debt - Jan 2008 Mar 26, 2008, 13:56 CET | State Agencies Reports | SeeNews As of end-January 2008 gross external debt* was EUR 27,407.4 million (83.7% of GDP) and decreased by EUR 716.3 million (2.5%) against the end of 2007 (EUR 28,123.7 million, 97.3% of GDP). The greatest contribution to the debt decrease was due to deposits of non-residents in local banks (a decrease of EUR 788.3 million, 20.1%). By end- January 2008 long-term liabilities amounted to EUR 18,650.4 million (68% of total debt), and short-term liabilities came to EUR 8,757 million (32% of total debt). link

UPDATE 1 - Bulgaria’s Gross Foreign Debt Falls to 27.407 Mln Euro at End-Jan - Table Mar 26, 2008, 14:21 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) - Bulgaria’s gross foreign debt totalled 27.407 billion euro ($43.125 billion) at the end of January, down by 2.5% from the end of 2007, the country’s central bank said on Wednesday. link

Elana - Bulgaria Daily Report - Mar 25, 2008 Mar 26, 2008, 10:30 CET | Broker’s Report | SeeNews Market Highlights link

FFBH - Bulgaria Morning Update - Mar 26, 2008 Mar 26, 2008, 10:31 CET | Broker’s Report | SeeNews MARKET WRAP-UP link

Bulgarian Blue-Chip Index Advances, Positive Sentiment Seen Fragile Mar 26, 2008, 18:00 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (SeeNews) – Bulgarian blue-chip index rose on Wednesday for a third consecutive day but brokers were unsure that a steady positive market sentiment is back. link

Bulgaria Schedule of Events - March 26- Nov 25 Mar 26, 2008, 09:04 CET | Story | SeeNews SOFIA (Bulgaria), March 26 (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 *

INTERVIEW – SEE Acquisitions by Regional Buyers To Keep Rising Average Annual 24% in Near Future - Roland Berger Consultancy Mar 26, 2008, 08:59 CET | Interview | SeeNews ZAGREB (Croatia), March 26 (SeeNews) – Consolidation is expected to boost the value of acquisitions by buyers from southeastern Europe (SEE) in their own region by an average annual rate of 24% in the next few years, the same as in the past seven years, Vladimir Preveden, managing partner of Roland Berger Strategy Consultants, said. link

Croatia Offers for Sale Indebted Adriachem, Imota for Token One Kuna Each Mar 26, 2008, 10:34 CET | Story | SeeNews ZAGREB (Croatia), March 26 (SeeNews) – Croatia has offered for sale its majority stakes in indebted plastics maker Adriachem and wine producer Imota for a token one kuna each after several previous attempts to sell them failed, the government’s asset-selling agency said. link

Croatia’s Ericsson Nikola Tesla Signs 8.0 Mln Kuna (1.1 Mln Euro) Deal in Kosovo Mar 26, 2008, 12:36 CET | Story | SeeNews ZAGREB (Croatia), March 26 (SeeNews) - Croatian blue-chip telecoms equipment maker Ericsson Nikola Tesla said on Wednesday it has signed an 8.0 million kuna ($1.7/ 1.1 million euro) deal with the Post and Telecommunications of Kosovo (PTK) for the delivery of fixed Internet broadband access technology. link

Croatia’s Ingra Wins Tender To Build 10 Mln Euro Motorway in Macedonia Mar 26, 2008, 14:03 CET | Story | SeeNews ZAGREB (Croatia), March 26 (SeeNews) - Croatian blue-chip civil engineering company INGRA said on Wednesday it has won a tender to build a 7.5-kilometre motorway in Macedonia for some 10 million euro ($125 million). link

CROATIAN BLUE-CHIP ELECTRICAL EQUIPMENT MAKER KONCAR 2007 GROUP NET PROFIT UP 76% TO 83.9 MLN KUNA (11.6 MLN EURO) Mar 26, 2008, 14:31 CET | Alert | SeeNews link

Croatian Blue-Chip Electrical Equipment Maker Koncar ’07 Group Net Profit Rises 76% Mar 26, 2008, 15:08 CET | Story | SeeNews ZAGREB (Croatia), March 26 (SeeNews) - Croatian blue-chip electrical equipment manufacturer Koncar reported on Wednesday a rise in its 2007 group net profit to 83.9 million kuna ($18 million/11.6 million euro) from 47.6 million a year earlier as revenue rose faster than costs. link

Croatian Road Construction Firm Viadukt 2007 Non-consolidated Net Profit Rises 108% Mar 26, 2008, 15:12 CET | Story | SeeNews ZAGREB (Croatia), March 26 (SeeNews) – Croatian road construction company Viadukt reported on Wednesday a rise in its 2007 non-consolidated net profit to 5.2 million kuna ($1.1 million/ 0.716 million euro) from 2.5 million a year earlier. link

UPDATE 1 – Croatian Blue-Chip Electrical Equipment Maker Koncar ’07 Group Net Profit Rises 76% - Table Mar 26, 2008, 15:22 CET | Story | SeeNews (adds table, updates share price) link

Croatia’s Medika 2007 Group Net Profit Falls Despite Higher Operating Profit, Revenue Mar 26, 2008, 16:34 CET | Story | SeeNews ZAGREB (Croatia), March 26 (SeeNews) – Croatian drug wholesaler Medika reported on Wednesday a fall in its net profit for last year to 3.3 million kuna ($709,000/455,000 euro) from 9.9 million a year earlier despite a rise in operating profit and revenue. link

Croatia’s Jan Construction Works Volume Up 10.5% Y/Y – Table Mar 26, 2008, 16:06 CET | Story | SeeNews ZAGREB (Croatia), March 26 (SeeNews) - The volume of construction works in Croatia in January rose by 10.5% year-on-year, the State Statistics Bureau said on Wednesday. link

FIMA Stock Monitor - Daily - Mar 25, 2008 Mar 26, 2008, 09:54 CET | Broker’s Report | SeeNews Daily comment: link

Erste Securities - Croatian Equity Daily - Mar 26, 2008 Mar 26, 2008, 09:56 CET | Broker’s Report | SeeNews Highlights: link

Croatian Share Indices Fall Back Mar 26, 2008, 18:37 CET | Story | SeeNews ZAGREB (Croatia), March 26 (SeeNews) – The Croatian equity market fell back on Wednesday, along with losses on major world markets, despite a number of announcements of good news for companies, market analysts said. link

Croatia Schedule of Events – March 26 – May 17 Mar 26, 2008, 09:24 CET | Story | SeeNews ZAGREB (Croatia), March 26 (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

Croatian C-Bank Approves All Bids in Revrepo Auction, Weighted Rate Falls Mar 26, 2008, 12:05 CET | Story | SeeNews ZAGREB (Croatia), March 26 (SeeNews) - The Croatian central bank on Wednesday approved all bids for Treasury bills worth 1.524 billion kuna ($329 million/210 million euro) in a reverse repo auction, as the weighted repo rate fell. link

* MACEDONIA *

Croatia’s Ingra Wins Tender To Build 10 Mln Euro Motorway in Macedonia Mar 26, 2008, 14:03 CET | Story | SeeNews ZAGREB (Croatia), March 26 (SeeNews) - Croatian blue-chip civil engineering company INGRA said on Wednesday it has won a tender to build a 7.5-kilometre motorway in Macedonia for some 10 million euro ($125 million). link

Macedonian Bank Card Transactions Number Rises 10.2% M/M in February - Table Mar 26, 2008, 12:50 CET | Story | SeeNews SKOPJE (Macedonia), March 26 (SeeNews) - Bank card transactions in Macedonia in February rose by 10.2% month-on-month in terms of number, to 1,837,669, central bank statistics showed on Wednesday. link

Macedonian C-Bank Absorbs 6.424 Bln Denars (103 Mln Euro) in 28-day Repo Funds Mar 26, 2008, 14:25 CET | Story | SeeNews SKOPJE (Macedonia), March 26 (SeeNews) - Macedonia’s central bank said on Wednesday it absorbed 6.424 billion denars ($162 million/103 million euro) in 28-day repo funds from the banking system. link

* MOLDOVA *

National Bank of Moldova - Financial Indicators of the Banking System - Mar 2008 Mar 26, 2008, 10:51 CET | State Agencies Reports | SeeNews National Bank of Moldova has published its report on financial indicators of the banking system for March 2008. link

Moldovan Garment Maker Ionel’s Net Profit Falls 2.8 Times in 2007 – Table Mar 26, 2008, 12:00 CET | Story | SeeNews CHISINAU (Moldova), March 26 (SeeNews) - The net profit of Moldovan garment manufacturer Ionel fell 2.8 times last year to 3.04 million lei ($288,000/183,200 euro), the company said on Wednesday. link

German Suedzucker Moldovan Unit Net Profit Down 45% in 2007 – Table Mar 26, 2008, 12:08 CET | Story | SeeNews CHISINAU (Moldova), March 26 (SeeNews) - The net profit of Suedzucker Moldova, a unit of Europe’s largest sugar producer Suedzucker AG, fell by 45% to 52.4 million lei ($5.0 million/3.2 million euro) last year, the company said on Wednesday. link

Moldovan Power Plant CET-Nord Swings to Profit in 2007 - Table Mar 26, 2008, 13:28 CET | Story | SeeNews CHISINAU (Moldova), March 26 (SeeNews) - Moldovan gas-fired power plant CET-Nord swung to a 1.0 million lei ($95,000/60,100 euro) net profit last year from a 15.4 million lei loss in 2006, the company said on Wednesday. link

Moldova’s Cigarette Maker Tutun CTC Net Profit Rises 2.5 Times in 2007 – Table Mar 26, 2008, 14:37 CET | Story | SeeNews CHISINAU (Moldova), March 26 (SeeNews) – The net profit of Moldova’s sole cigarette maker Tutun CTC jumped by 2.5 times last year to 20.04 million lei ($1.9 million/1.2 million euro), the company said on Wednesday. link

Union Fenosa Moldovan Unit Raises 2008 Investment Plan by 4.8% Mar 26, 2008, 15:26 CET | Story | SeeNews CHISINAU (Moldova), March 26 (SeeNews) - The Moldovan unit of Spanish power utility Union Fenosa has raised its investment plan for 2008 to 187.1 million lei ($17.7 million/11.2 million euro) from 178.4 million lei at the request of Moldova’s energy regulator, ANRE, the regulator said on Wednesday. link

Moldova Schedule of Events - March 26 - May 25 Mar 26, 2008, 10:18 CET | Story | SeeNews CHISINAU (Moldova), March 26 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in, or related to Moldova through May 25. New or amended entries are marked (*) link

* MONTENEGRO *

Monstat - Tourism - Feb 2008 Mar 26, 2008, 13:47 CET | State Agencies Reports | SeeNews In February 2008, Montenegro was visited by 24108 tourists who had 102530 overnight stays. There were 6908 domestic tourists who had 22436 overnight stays, and 17200 foreigners with 80094 overnight stays. The greatest visit of tourists, as well as the number of overnight stays was in the coastal resorts. link

Canada-based Four Seasons to Build 50 Mln Euro Hotel in Montenegro Mar 26, 2008, 15:03 CET | Story | SeeNews PODGORICA (Montenegro), March 26 (SeeNews) – Canada-based luxury hotel chain Four Seasons plans to build a 50 million euro ($79million) hotel on the Montenegrin Adriatic coast as part of a major marina project of Canadian billionaire Peter Munk, a company official said. link

Monstat - Industrial Production - Feb 2008 Mar 26, 2008, 07:18 CET | State Agencies Reports | SeeNews Industrial production in Montenegro in February 2008 increased according to all indicators: in the period January - February 2008, compared to the same periodprevious year 16.3%, compared to the previous month 20.9%, compared to the February 2007 18.9% as well as to the average monthly production in previous year 15.6%.All three sectors had increase of production in the period January - February this year compared to the same period previous year: Mining and quarrying 50.0%,Manufacturing 4.3% and Electricity, gas and water supply 44.9%. link

Monstat - Costs of Lliving Index - Feb 2008 Mar 26, 2008, 13:27 CET | State Agencies Reports | SeeNews Costs of living in February 2008, compared to January 2008, increased 0.1% (expenditures for services increased 0.4%, expenditures for food increased 0.3% and expenditures for goods increased 0.1%). Compared to December 2007, they increased 1.6%. Costs of living in the period January - February 2008, comapred to the same period previous year, increased 7.9%. link

Montenegro Schedule of Events - March 26 - May 15 Mar 26, 2008, 10:35 CET | Story | SeeNews PODGORICA (Montenegro), March 26 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in, or related to, Montenegro through May 15. New or amended entries are marked (*). link

* ROMANIA *

Romania’s Transgaz To Replace Turbomecanica in Blue-Chip Index of Bucharest Bourse Mar 26, 2008, 10:15 CET | Story | SeeNews BUCHAREST (Romania), March 26 (SeeNews) - Romanian gas transmission company Transgaz will replace aircraft engine manufacturer Turbomecanica in the blue-chip index BET of the Bucharest Stock Exchange (BVB), the bourse said. link

Vodafone Romania Acquires 66% Stake in Electronics Retailer Proton Technologies Mar 26, 2008, 11:41 CET | Story | SeeNews BUCHAREST (Romania), March 26 (SeeNews) - The Romanian arm of British wireless giant Vodafone said on Wednesday it has signed a deal to acquire 66% of Romanian electronics retailer Proton Technologies for an undisclosed sum. link

WorleyParsons Says Wins Engineering/Design Project for Romanian Oil/Gas Group Petrom Mar 26, 2008, 12:34 CET | Story | SeeNews BUCHAREST (Romania), March 26 (SeeNews) - Australian engineering services group WorleyParsons said on Wednesday it won a front-end engineering and design project which is part of the modernisation of the Petrobrazi oil refinery owned by Romanian oil and gas group Petrom. link

Romania’s Mefin Again Plans No Dividend for 2007 Mar 26, 2008, 15:10 CET | Story | SeeNews BUCHAREST (Romania), March 26 (SeeNews) - Mefin, a Romanian manufacturer of diesel fuel injection systems, said on Wednesday it plans to pay no dividend for 2007 and will use its profit to cover losses from previous years. link

Romanian Arm of Lithuania-based Novatours Sees 10 Mln Euro Turnover in First Year of Operation Mar 26, 2008, 16:07 CET | Story | SeeNews BUCHAREST (Romania), March 26 (SeeNews) - Flynova, the newly established Romanian unit of Lithuania-based tourism operator Novatours, targets a turnover of 10 million euro ($15.734 million) and some 20,000 clients in 2008, it said on Wednesday. link

Romanian Hotel Operator THR Marea Neagra Again Plans To Pay No Dividend for 2007 Mar 26, 2008, 16:33 CET | Story | SeeNews BUCHAREST (Romania), March 26 (SeeNews) - Romanian hotel operator Turism, Hoteluri, Restaurante (THR) Marea Neagra said on Wednesday it plans to pay no dividend for 2007 as it aims to reinvest part of last year’s profit and use the rest for reserves. link

ROMANIA’S C-BANK SAYS HIKES KEY INTEREST RATE TO 9.5% FROM 9.0% Mar 26, 2008, 10:05 CET | Alert | SeeNews link

Romania’s C-Bank Says Raises Key Interest Rate to 9.5% From 9.0% Mar 26, 2008, 10:08 CET | Story | SeeNews BUCHAREST (Romania), March 26 (SeeNews) - Romania’s central bank, BNR, said on Wednesday it raised its key interest rate by half percentage point to 9.5%. link

Raiffeisen Capital & Investment - Macro Romania - BNR hiked the key interest rate to 9.5% - Mar 26, 2008 Mar 26, 2008, 11:27 CET | Broker’s Report | SeeNews BNR hiked the key interest rate to 9.5% link

UPDATE 1 - Romania’s C-Bank Says Raises Key Interest Rate to 9.5% from 9.0% Mar 26, 2008, 13:45 CET | Story | SeeNews (adds details, quotes) link

Romania Rejects All Bids for 1-Yr T-Bills Mar 26, 2008, 14:29 CET | Story | SeeNews BUCHAREST (Romania), March 26 (SeeNews) - Romania rejected all bids worth 361.3 million lei ($153 million/97 million euro) placed in an auction of one-year T-bills, as banks offered low prices, the country’s central bank, BNR, said on Wednesday. link

UPDATE 2 - Romania’s C-Bank Raises Key Interest Rate to 9.5% from 9.0% Mar 26, 2008, 15:30 CET | Story | SeeNews (adds analyst comments) link

Raiffeisen Capital & Investment - Investment Daily Romania - Mar 25, 2008 Mar 26, 2008, 09:09 CET | Broker’s Report | SeeNews In the news link

Ieba Trust - Romanian Market Daily - Mar 25, 2008 Mar 26, 2008, 09:46 CET | Broker’s Report | SeeNews BSE indices recover for the third consecutive day link

Raiffeisen Capital & Investment - Investment Daily Romania - Mar 26, 2008 Mar 26, 2008, 10:10 CET | Broker’s Report | SeeNews Trader’s CommentAfter the short vacation on the European markets, (which influenced the liquidity on the local exchange), on Tuesday, their positive start also drove the domestic market. The same as in many previous sessions when the opening was enthusiastic, soon after the opening the prices started to fall, due to the lack of large purchasers. Thus many of the blue chips turned in red (SIF3, SIF4, SIF 5, SNP, TLV, etc). Close to the end of the session new buy orders emerged, especially in the case of the SIFs, thus the indices closed the day in green. BET inched 0.1% and BET-FI rose 1.5%. If during last week SNP had a positive influence on BET, on Tuesday the dive in SNP price of 2% depressed BET appreciation.In the newsChanges in BET IndexDuring the quarterly meeting (March 25) of the Bucharest Stock Exchange (BVB) Committee, it was decided the exclusion of Turbomecanica (TBM) from BET index and the inclusion of Transgaz (TGN). BET-FI remains unchanged and BET-C will inclu de in its composition Dafora (DAFR) and Transgaz. The representation factor for each company included in the BVB indices will be calculated by BVB based on the closing prices of Thursday, March 27, 2008. The complete BVB indices structure will be disseminated to the public on the same day and will become effective starting with April 1, 2008.Turbomecanica - Net profit drops 50% yoyTurbomecanica (TBM) called a General Shareholders Meeting for April 30. Among other issues, the shareholders are asked to approve the allocation of last years net profit of RON 7.7 mn (EUR 2.2 mn). The Board proposed for TBM to grant no dividends for 2007. The motivation behind this move is the 50% yoy drop reported in net profit in 2007. According to the company management, TBM posted losses in 4Q 2007 due to some changes in the production process. We consider the news negative since the bottom line of RON 7.7 mn came in much lower than our estimate of RON 13.7 mn. As Turbomecanica will release it s FY 2007 preliminary results only on March 27 and we do not have other data on the company results we decided to put our recommendation under review. Erste bank to sell BCR AsigurariBased on the local media, Erste Bank decided to sell its Romanian insurance arm, BCR Asigurari, the forth largest domestic player with total gross written premiums of EUR 174 mn in 2007. According to market sources, Erste is currently negotiating with a large financial group and the transaction might be closed within several months. Erste Bank provided no comments. Following the privatization of BCR, there were market rumors that Erste intends to sell BCR Asigurari to Vienna Insurance, which currently owns other five insurance companies in Romania, namely Omniasig, Omniasig Life, Agras, Unita and Asirom. Moreover, Erste representatives have voiced in the past their intension to divest the general insurance division, which is considered less attractive as opposed to the life insurance business. Based on the financial offers for Asiban, another domestic insuranc e company, which is currently up for sell, the value of BCR Asigurari is estimated at some EUR 300 mn. link

Romanian Bourse Indices Fall on Key Interest Rate Hike Mar 26, 2008, 16:24 CET | Story | SeeNews BUCHAREST (Romania), March 26 (SeeNews) - Romanian bourse indices lost ground on Wednesday following a decision of the country’s central bank earlier in the day to raise its key interest rate to 9.5% from 9.0%, brokers said. link

Romania Schedule of Events - March 26 - May 15 Mar 26, 2008, 09:06 CET | Story | SeeNews BUCHAREST (Romania), March 26 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Romania through May 15. New or amended entries are marked (*). link

Romanian Leu Ends Steady vs Euro, Unaffected by C-Bank Rate Rise Mar 26, 2008, 16:44 CET | Story | SeeNews BUCHAREST (Romania), March 26 (SeeNews) - The Romanian leu ended steady at 3.7165/7205 per euro in calm trading on Wednesday, compared with 3.7170/7220 a day earlier, unaffected by a widely-expected increase in the central bank’s key interest rate, dealers said. link

* SERBIA *

Croatia’s Ericsson Nikola Tesla Signs 8.0 Mln Kuna (1.1 Mln Euro) Deal in Kosovo Mar 26, 2008, 12:36 CET | Story | SeeNews ZAGREB (Croatia), March 26 (SeeNews) - Croatian blue-chip telecoms equipment maker Ericsson Nikola Tesla said on Wednesday it has signed an 8.0 million kuna ($1.7/ 1.1 million euro) deal with the Post and Telecommunications of Kosovo (PTK) for the delivery of fixed Internet broadband access technology. link

Sinteza Investment Group - Daily Market WrapUp - Mar 25, 2008 Mar 26, 2008, 09:47 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its Daily Market WrapUp for March 25, 2008, containg an overview of the Serbian Financial Market. link

Vojvodjanska Banka - Daily Vobnews - Mar 26, 2008 Mar 26, 2008, 10:30 CET | Broker’s Report | SeeNews Vojvodjanska banka released its Daily Vobnews Report for March 26, 2008 containing the following charts and tables: link

Belgrade Indices Continue to Fall in Smaller Volumes Mar 26, 2008, 15:37 CET | Story | SeeNews BELGRADE (Serbia), March 26 (SeeNews) - Belgrade Stock Exchange (BELEX) indices ended further down on Wednesday in lower turnover as the political instability in Serbia remains a key factor for trade, brokers said. link

Serbia Schedule of Events - March 26 - May 11 Mar 26, 2008, 09:53 CET | Story | SeeNews BELGRADE (Serbia), March 26 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Serbia through May 11. New or amended entries are marked (*). link

* SLOVENIA *

Slovenia’s Economic Sentiment Index Rises in March Mar 26, 2008, 11:14 CET | Story | SeeNews LJUBLJANA (Slovenia), March 26 (SeeNews) - Slovenia’s seasonally-adjusted economic sentiment index rose by one percentage point in March from a month earlier, the Statistics Office said on Wednesday. link

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