Centro Studi Europa dell’Est – news report of 31.03.2008 – powered by www.seenews.com

News report of 31.03.2008

* ALBANIA *

INTERVIEW - Microsoft To Open Unit in Albania in 2008, Seeks Double-digit Growth in SEE Mar 31, 2008, 14:53 CET | Interview | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Microsoft plans to open a subsidiary in Albania this year, aiming to expand in Southeastern Europe, where it seeks a double-digit growth in the near future, a senior company official said. link

Gazmend Oketa Becomes Albania’s New Defence Minister Mar 31, 2008, 16:15 CET | Story | SeeNews TIRANA (Albania), March 31 (SeeNews) - Albania’s former deputy prime minister Gazmend Oketa is the country’s new defence minister, the Albanian president’s press office said. link

Albanian Government List - Updated March 28, 2008 Mar 31, 2008, 17:21 CET | Story | SeeNews TIRANA (Albania), March 31 (SeeNews) - Updates with the appointment of Gazmend Oketa as a new defence minister in Albania’s centre-right coalition government as of March 28. Oketa replaced Fatmir Mediu who resigned following a series of blasts at an army ammunition dump near Tirana that killed people and caused widespread damage on March 15. link

* BOSNIA *

Bosnia Serb Republic Sells Pneumatic Tools Manufacturer Trudbenik to Croatian-Bosnian Consortium Mar 31, 2008, 10:51 CET | Story | SeeNews BANJA LUKA (Bosnia and Herzegovina), March 31 (SeeNews) - Bosnia’s Serb Republic said on Monday it has sold 57.4% of pneumatic tools and compressors manufacturer Trudbenik Doboj to a Croatian-Bosnian consortium for 500,000 marka ($403,000/256,000 euro). link

Bosnian PM Spiric Threatens To Resign if Parliament Fails To Adopt EU-backed Police Reform Bills - Media Mar 31, 2008, 12:06 CET | Story | SeeNews SARAJEVO (Bosnia and Herzegovina), March 31 (SeeNews) – Bosnian Prime Minister Nikola Spiric has threatened to resign if the country’s central parliament fails to adopt key bills on reforming the country’s ethnically divided police force later this week, local media reported on Monday. link

Bosnia Schedule of Events – March 31 - May 9 Mar 31, 2008, 10:05 CET | Story | SeeNews SARAJEVO (Bosnia and Herzegovina), March 31 (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 *

Bulgarian Steel Wheels Manufacturer Balkancar Zarya Sees 2008 Sales Up 34% Mar 31, 2008, 09:14 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Bulgarian steel wheels manufacturer Balkancar Zarya expects its sales revenue to rise 34% to nearly 9.0 million levs ($7.3 million/4.6 million euro) in 2008 as sales volumes are seen higher, the company said. link

Bulgarian Stock Exchange - Daily Bulletin, Selected Announcements - Mar 28, 2008 Mar 31, 2008, 09:29 CET | Specialists Reports | SeeNews Dear colleagues,In connection with the training of brokers in operation with the Xetra system to be held on 01.04.2008 at Sofia Hall of Grand Hotel Sofia, BSE-Sofia would like to remind you that only active brokers will be admitted to the training.There is no need of a preliminary registration for participation in the training.The training will start at 08:30 a.m., so please be there on time! link

Bulgaria’s Svilosa Group Sees 2008 Pre-Tax Profit Doubling, Sales To Rise Even Faster Mar 31, 2008, 12:34 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Bulgarian cellulose producer Svilosa sees its 2008 group pre-tax profit 92.4% higher at 4.5 million levs ($3.6 million/2.3 million euro) and gross sales are seen rising 103% to 101.7 million levs, the company said on Monday. link

UniCredit’s Bulgarian Arm Gets 8.0 Mln Euro Loan from Germany’s KfW To Finance Housing Projects Mar 31, 2008, 13:38 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) – Unicredit Bulbank, the Bulgarian arm of Italian banking group UniCredit, has received an 8.0 million euro ($12.6 million) credit line from German development bank KfW to finance housing projects of individuals, Unicredit Bulbank board member Lyubomir Punchev said on Monday. link

Sony Opens Call Centre for East Europe in Bulgaria Mar 31, 2008, 13:41 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) – Global technology products manufacturer Sony will open a call centre for eastern Europe in Bulgaria on April 1, it said on Monday. link

Bulgaria’s Sopharma Trading Sees 2008 Net Profit Quadrupling Mar 31, 2008, 13:44 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Sopharma Trading, the distribution arm of Bulgarian blue-chip drug maker Sopharma, said it expects its net profit to almost quadruple to 3.0 million levs ($2.4 million/1.5 million euro) this year. link

INTERVIEW - Microsoft To Open Unit in Albania in 2008, Seeks Double-digit Growth in SEE Mar 31, 2008, 14:53 CET | Interview | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Microsoft plans to open a subsidiary in Albania this year, aiming to expand in Southeastern Europe, where it seeks a double-digit growth in the near future, a senior company official said. link

Bulgaria’s Sopharma Expects 2008 Pre-tax Profit To Rise 20-25% Mar 31, 2008, 15:14 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) – Bulgarian blue-chip drug maker Sopharma said it expects its pre-tax profit to rise by 20-25% this year as sales are expected to grow by up to 12%. link

Bulgarian Hardboard Maker Fazerles Sees 2008 Net Profit Down by 33.8% Mar 31, 2008, 15:14 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Bulgarian hardboard manufacturer Fazerles expects its 2008 net profit to fall by 33.8% to 3.6 million levs ($2.9 million/1.8 million euro) due to economic instability on foreign markets, the company said. link

Bulgaria’s Sopharma Says Acquires 51%, Not 90% of Serbian Pharmaceutical Firm Ivancic and Sons Mar 31, 2008, 16:03 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Bulgarian blue-chip drug maker Sopharma on Monday said it has acquired 51% of Serbian pharmaceutical firm Ivancic and Sons, and not 90% as it had reported earlier, for an undisclosed price. link

BULGARIAN LEAD/ZINC SMELTER OTZK SAYS SEES LEAD OUTPUT UP 1.9%, ZINC OUTPUT 3.8% HIGHER IN 2008 Mar 31, 2008, 16:27 CET | Alert | SeeNews link

Bulgarian Lead/Zinc Smelter OTZK Sees Lead Output Up 1.9%, Zinc Output 3.8% Higher in 2008 Mar 31, 2008, 16:48 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Bulgaria’s second-largest lead and zinc smelter OTZK on Monday said it expects to raise its production of lead by 1.9% this year and of zinc by 3.8%. link

BULGARIA’S CORPBANK SEES 2010 AFTER-TAX PROFIT AT 77.1 MLN LEVS (39.4 MLN EURO), UP 34.9% FROM 2009 Mar 31, 2008, 17:14 CET | Alert | SeeNews link

Bulgaria’s Corpbank Sees 2010 After-Tax Profit at 39.4 Mln Euro, Up 34.9% from 2009 Mar 31, 2008, 17:50 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Bulgaria’s blue-chip Corporate Commercial Bank (Corpbank) sees its 2010 after-tax profit at 77.1 million levs ($62.3 million /39.4 million euro), up 34.9% from the after-tax profit projected for 2009, it said on Monday. link

Slovenian NLB’s Bulgarian Arm Expects 2008 Gross Profit To Rise 9.5% Mar 31, 2008, 17:57 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - NLB West-East Bank, the Bulgarian unit of Slovenia’s largest bank by assets, Nova Ljubljanska Banka (NLB), on Monday said it expects its gross profit to rise by 9.5% to 2.3 million euro ($3.6 million euro) in 2008 as total assets are expected to grow by 37%. link

Bulgarian Drug Maker Balgarska Roza-Sevtopolis Projects 34% Rise in 2008 Net Profit Mar 31, 2008, 18:42 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Bulgarian pharmaceuticals and perfume producer Balgarska Roza-Sevtopolis expects to raise its 2008 net profit by one-third to 1.7 million levs ($1.4 million/870,000 euro) backed by an 8.0% rise in sales, the company said on Monday. link

Bulgarian NSI - Producer Price Indices - Feb 2008 Mar 31, 2008, 12:15 CET | State Agencies Reports | SeeNews The National Statistics Institute (NSI) has published its report on producer price indices for February 2008. link

Bulgarian Stock Exchange - Daily Report - Mar 28, 2008 Mar 31, 2008, 09:23 CET | Specialists Reports | SeeNews Bulgarian Stock Exchange has published its report on turnover and prices for March 28, 2008. link

Karoll - Bulgarian Stock Market Overview - Mar 24 - 28, 2008 Mar 31, 2008, 09:45 CET | Broker’s Report | SeeNews Commentary link

STS Finance - Daily FX Analysis - Mar 31, 2008 Mar 31, 2008, 10:04 CET | Broker’s Report | SeeNews The US dollar remain stable link

FFBH - Bulgaria Morning Update - Mar 31, 2008 Mar 31, 2008, 12:00 CET | Broker’s Report | SeeNews MARKET WRAP-UPPositive Friday added 0.20% to SOFIX - 1 246.97 bps, 0.07% to wide BG40 - 354.32 bps, 1.26% to BG REIT - 97.46 bps and 0.66% to BGTR30 - 821.94 bps. 2008 financial forecasts of Neochim (NEOH), announced by its management, supported the share price and Neochim closed at BGN 57.48 (+9.69%). The next on the positive grade Kaolin (KAO) moved North by 3.40% to BGN 13.96 with 2 496 shares daily turnover.Industrial Holding Bulgaria (IHLBL, BGN 7.82, +2.22%) also advanced on Friday as 11 156 shares changed hands during the session. All the banks, listed on the stock exchange closed positive except Central Cooperative Bank (CCB) which experienced sell pressure and lost 4.13% to BGN 5.80. Among REIT companies Agricultural Land Opportunity Fund Mel Invest (ALOFMI) highlighted the trade as company forthcoming capital increase created investors’ support and pushed the price up to BGN 1.37 (+9.92%) on Friday. link

Elana - BSE - Sofia Weekly Overview - Mar 28, 2008 Mar 31, 2008, 13:33 CET | Broker’s Report | SeeNews Market Trend link

Bulgarian Stock Indices End Mostly Up in Dull Trading Mar 31, 2008, 15:00 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Bulgarian stocks ended mostly higher on Monday in sluggish trading in low volumes due to lack of news, brokers said. link

FFBH - Bulgaria Weekly Update - Mar 24 - 28, 2008 Mar 31, 2008, 16:13 CET | Broker’s Report | SeeNews MARKET WRAP-UPThe market slightly recoveredlast week as SOFIX added 5.2% to 1 246.97 bps while BG40 advanced by 4.6% to 354.32 bps. Released 2007 audited unconsolidated reports pushed some of the stocks prices up but buying enthusiasm came mainly from positive news from Europe and USA. It is important to note that the liquidity remained low and we believe the market is still mainly driven by small retail investors. Now we will keep an eye on the forthcoming Q1- 2008 financial results which are to be released till the end of April as we strongly believe that despite the overall negative situation on world capital markets positive financial reports will support BSE-Sofia.SOFIX (one month) (chart) link

Bulgaria Schedule of Events - March 31 - Nov 25 Mar 31, 2008, 09:08 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (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 *

CROATIA’S INA SAYS 2007 CONSOLIDATED NET PROFIT DOWN 1.6% TO 869 MLN KUNA (120 MLN EURO) Mar 31, 2008, 10:13 CET | Alert | SeeNews link

Croatian OIL, Gas Firm INA 2007 Consolidated Net Profit Falls 1.6% Mar 31, 2008, 10:45 CET | Story | SeeNews ZAGREB (Croatia), March 31 (SeeNews) – Croatian blue-chip oil and gas company INA reported on Monday a consolidated audited net profit of 869 million kuna ($189 million/120 million euro), down from 883 million a year earlier due to higher taxes. “The net profit of the INA Group in 2007 was lower by 1.6% compared to 2006 as a result of higher amount of corporate taxes,” the company’s CEO Tomislav Dragicevic said in a statement. link

UPDATE 1 - Croatian OIL, Gas Firm INA 2007 Consolidated Net Profit Falls 1.6% - Table Mar 31, 2008, 11:00 CET | Story | SeeNews (adds table) link

CROATIAN CIVIL ENGINEERING FIRM IGH SAYS 2007 UNAUDITED CONS NET PROFIT UP 66% TO 56.3 MLN KUNA (7.7 MLN EURO) Mar 31, 2008, 11:26 CET | Alert | SeeNews link

Croatian Civil Engineering Firm IGH 2007 Unaudited Cons Net Profit Rises 66% Mar 31, 2008, 11:44 CET | Story | SeeNews ZAGREB (Croatia), March 31 (SeeNews) – Croatian civil engineering institute Institut Gradjevinarstva Hrvatske (IGH) reported on Monday a consolidated unaudited net profit of 56.3 million kuna ($12.2 million/7.7 million euro) for 2007, up from 33.9 million kuna a year earlier. link

Erste Securities - Research - IGH - FY2007 Results - Mar 31, 2008 Mar 31, 2008, 12:13 CET | Broker’s Report | SeeNews Croatian civil engineering company IGH announced today on the Zagreb Stock Exchange its unaudited FY07 financial results. According to these reports, the company recorded HRK 202.4mn in 4Q07 sales, representing a 4.3% y/y growth, and doubled its quarterly net profit to HRK 19.9mn. Most of the 4Q sales growth came from other operative revenues (provision release, supplemental collection of receivables). The company reported 17.5% y/y growth in FY07 sales to HRK 689.1mn, mostly generated on the domestic market (19% y/y growth to HRK 625mn). The company improved its bottom line by 66% y/y to HRK 56.3mn, with a strong contribution of net profit generated in 4Q. Results reported by the company are in line with expectations and in accordance with the company’s plans. link

UPDATE 1 - Croatian Civil Engineering Firm IGH 2007 Unaudited Cons Net Profit Rises 66% - Table Mar 31, 2008, 12:25 CET | Story | SeeNews (adds table) link

CROATIAN SUGAR COMPANY VIRO SAYS 2007 NET PROFIT DOWN 10% TO 91.5 MLN KUNA (12.6 MLN EURO) Mar 31, 2008, 12:35 CET | Alert | SeeNews link

TOP INSURER CROATIA OSIGURANJE SAYS 2007 GROUP NET PROFIT UP 10% TO 126 MLN KUNA (17 MLN EURO) Mar 31, 2008, 12:36 CET | Alert | SeeNews link

Croatian Confectioner Kras Consolidated 2007 Net Profit Falls 24% - Table Mar 31, 2008, 12:42 CET | Story | SeeNews ZAGREB (Croatia), March 31 (SeeNews) - Croatian confectionery producer Kras said on Monday its 2007 net profit fell to 32.5 million kuna ($7.1million/ 4.5million euro) from 42.6 million kuna a year earlier. link

Croatia Osiguranje Insurer 2007 Group Net Profit Up 10.3% Mar 31, 2008, 13:24 CET | Story | SeeNews ZAGREB (Croatia), March 31 (SeeNews) - Croatia’s top insurer, majority state-owned Croatia Osiguranje, reported on Monday a group net profit of 126 million kuna ($27 million/17 million euro) for last year, up 10.3%, and said it plans further regional acquisitions. link

Croatian Sugar Maker Viro 2007 Net Profit Falls 10% Mar 31, 2008, 13:41 CET | Story | SeeNews ZAGREB (Croatia), March 31 (SeeNews) – Croatian blue-chip sugar maker Viro said on Monday its 2007 net profit fell 10% to 91.5 million kuna ($20.3 million/14.2 million euro), due to unfavourable weather conditions. link

UPDATE1 - Croatian Sugar Maker Viro 2007 Net Profit Falls 10% Mar 31, 2008, 15:48 CET | Story | SeeNews (adds details) link

CROATIAN FOOD PRODUCER PODRAVKA SAYS 2007 GROUP NET PROFIT FALLS 70% TO 18.3 MLN KUNA (2.5 MLN EURO) Mar 31, 2008, 16:21 CET | Alert | SeeNews link

Croatian Food Producer Podravka’s 2007 Group Net Profit Falls 70% Mar 31, 2008, 17:28 CET | Story | SeeNews ZAGREB (Croatia), March 31 (SeeNews) – Croatian blue-chip food, beverage and drug producer Podravka on Monday reported a 70% fall in its 2007 group net profit to 18.3 million kuna ($3.98 million/2.5 million euro) from 60.4 million a year earlier while sales revenue fell just one percent to 3.432 billion kuna. link

UPDATE 1 - Croatian Food Producer Podravka’s 2007 Group Net Profit Falls 70% Mar 31, 2008, 18:15 CET | Story | SeeNews (adds table) link

CROATIA’S JAN- FEB TRADE GAP WIDENS TO 1.7 BLN EURO FROM 1.4 BLN EURO YR-AGO - STATS OFFICE Mar 31, 2008, 10:56 CET | Alert | SeeNews link

Croatia’s Jan-Feb Trade Gap Widens to 1.7 Bln Euro - Table Mar 31, 2008, 11:24 CET | Story | SeeNews ZAGREB (Croatia), March 31 (SeeNews) - Croatia’s trade gap widened to a preliminary 1.699 billion euro ($2.687 billion) in the first two months of the year from 1.349 billion euro a year earlier, the State Statistics Bureau said on Monday. link

CROATIA’S 2007 C/A DEFICIT WIDENS TO 3.2 BLN EURO ($5.1 BLN) FROM 2.7 BLN EURO IN 2006 – C-BANK Mar 31, 2008, 18:20 CET | Alert | SeeNews link

Erste Securities - Croatian Equity Daily - Mar 31, 2008 Mar 31, 2008, 10:31 CET | Broker’s Report | SeeNews
 CROBEX 1.8% up on Friday, gains in the shipping sector link

Erste Securities - Research - Croatia Osiguranje - FY2007 Results - Mar 31, 2008 Mar 31, 2008, 14:37 CET | Broker’s Report | SeeNews 2007 premium income up 4.9% y/y link

Croatian Stock Market Falls in Low Turnover Mar 31, 2008, 18:28 CET | Story | SeeNews ZAGREB (Croatia), March 31 (SeeNews) - Croatian share prices fell back on Monday in low turnovers as investors remained cautious and even an inflow of 2007 corporate results failed to break the market lethargy, brokers said. link

Croatia Schedule of Events – March 31 – May 17 Mar 31, 2008, 09:10 CET | Story | SeeNews ZAGREB (Croatia), March 31 (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

* MOLDOVA *

Moldova Jobless Rate Falls to 5.1% in 2007 Mar 31, 2008, 11:10 CET | Story | SeeNews CHISINAU (Moldova), March 31 (SeeNews) - Moldova’s unemployment rate was 5.1% at the end of 2007, down from 7.4% a year earlier, the country’s statistics bureau said on Monday. link

Moldova Schedule of Events - March 31 - May 25 Mar 31, 2008, 10:33 CET | Story | SeeNews CHISINAU (Moldova), March 31 (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

MOLDOVAN PARLIAMENT ENDORSES NEW CABINET PROPOSED BY PM DESIGNATE ZINAIDA GRECEANII Mar 31, 2008, 13:47 CET | Alert | SeeNews link

Moldovan Parliament Endorses New Cabinet Mar 31, 2008, 14:48 CET | Story | SeeNews CHISINAU (Moldova), March 31 (SeeNews) - Moldova’s parliament endorsed on Monday a new cabinet proposed by prime minister-designate Zinaida Greceanii. link

UPDATE 1 - Moldova’s Parliament Endorses New Cabinet Mar 31, 2008, 17:13 CET | Story | SeeNews (adds Greceanii quotes, background) link

Moldova Government List - Updated March 31, 2008 Mar 31, 2008, 17:17 CET | Story | SeeNews CHISINAU (Moldova), March 31 (SeeNews) - Moldova’s parliament voted into office the government of Prime Minister Zinaida Greceanii on Monday, following the resignation of premier Vasile Tarlev on March 19. link

* MONTENEGRO *

New Securities Exchange of Montenegro - Daily Report - Mar 28, 2008 Mar 31, 2008, 15:42 CET | Broker’s Report | SeeNews New Securities Exchange of Montenegro (NEX) has published its daily report on trading volumes and prices for March 28, 2008.*****To view the original document, please click on the link below: link *****AII Data Processing does not endorse in any way, the views, opinions or recommendations expressed above. The use of the information is subject to the terms and conditions as published by the original source, which you have to read and accept in full prior to the execution of any actions taken in reliance on information contained herein. link

* ROMANIA *

ROMANIA SAYS GETS 8 BIDS FOR MANAGER OF BOURSE LISTING OF BUCHAREST INTL AIRPORT HENRI COANDA Mar 31, 2008, 12:13 CET | Alert | SeeNews link

Belgian Food Retailer Delhaize Group To Acquire Romanian Chain La Fourmi for 18.6 Mln Euro Mar 31, 2008, 12:40 CET | Story | SeeNews BUCHAREST (Romania), March 31 (SeeNews) - Belgian food retailer Delhaize Group said on Monday it has entered into an agreement to acquire Romanian chain La Fourmi for 18.6 million euro ($29.4 million) through its fully-owned subsidiary Mega Image. link

Romania Says Gets Eight Bids for Manager of Bourse Listing of Bucharest Intl Airport Henri Coanda Mar 31, 2008, 12:51 CET | Story | SeeNews BUCHAREST (Romania), March 31 (SeeNews) - Romania has received eight bids from companies interested in managing the planned public offering of 5.0% of the shares of Henri Coanda international airport in Bucharest, the Transport Ministry said on Monday. link

Romania’s Anti-Trust Body Endorses Sale of Brewer Bere Mures to Dutch Heineken Mar 31, 2008, 14:19 CET | Story | SeeNews BUCHAREST (Romania), March 31 (SeeNews) - Romania’s competition regulator said on Monday it gave the green light to Dutch brewer Heineken to acquire Romanian peer company Bere Mures. link

Romanian Textile Company Siretul Pascani To Pay No 2007 Dividend, Sees 2008 Net Profit Rising 13 Times Mar 31, 2008, 17:35 CET | Story | SeeNews BUCHAREST (Romania), March 31 (SeeNews) - Romanian clothing and textile company Siretul Pascani will pay no dividend for 2007 and sees its net profit rising 13 times this year, it said on Monday. link

Romania’s Petrom Picks U.S.-Greek Consortium To Build 400 Mln Euro Gas-fired Power Plant Mar 31, 2008, 18:00 CET | Story | SeeNews BUCHAREST (Romania), March 31 (SeeNews) - Romania’s largest oil group Petrom, majority-owned by Austria’s OMV, on Monday said it signed a contract with a U.S-Greek consortium for the construction of a 500 million euro ($791 million) gas-fired power plant in Romania. link

Bucharest Stock Exchange - Daily Report - Regulated Market - Mar 28, 2008 Mar 31, 2008, 09:37 CET | Specialists Reports | SeeNews Bucharest Stock Exchange has published its report on trading volumes and prices on the regulated market for March 28, 2008. link

Ieba Trust - Romanian Market Daily - Mar 28, 2008 Mar 31, 2008, 09:42 CET | Broker’s Report | SeeNews Friday, BET and BET-C posted the highest daily increase of this week link

Confident Invest - Weekly Update - Mar 28, 2008 Mar 31, 2008, 10:03 CET | Broker’s Report | SeeNews AbstractRecession and correlation - the two words that appear more and more often in the debates regarding stock exchanges. So often that there are grounds to believe that repeating them endless make them really happen. Since the begining of the year BET lost 30%, while the american index Dow Jones lost 6.5%. Such a difference could make us wonder whether investors are not forgeting the fact that there are disputes about recession in US, and not in our country. In fact, the expected growth for this year in Romania is 6,5%. Unfortunetly, as long as the US economy stay as it is, the international investors are unlikely to welcome the idea of further investing in emergent economies, causing the falling of the national currency, which could be of great help for the exporters. On the other hand, the economic progress estimated for this year puts pressure on the current acoount deficit, which will be less covered by foreign direct investment, only an increase in competitivety being able to offset the decline of cash inflows. Therefore the effects of the recession in US, if confimed, are likely to regard the current account deficit, which could mean that if we wouldn’t have our own problems we probably have no ground to watch so close the US macro situation.The stock exchange is also sensitive at swifts in foreign investor’s sentiments, as before the sub-prime crisis, the purcheses of those investors were significant (counting for more then 50% of the total volume in some months during last year) becoming an important determiner of the BSE growing. The strong change in BSE’s trend could be the effect of the prejudice that the big growths from the previous years lead to overevaluation. Even if this is the case, the fact that only three companies ( Zimtub, UCM Resita and Socep) rose since this year begun, could be a signal that this idea could be not quite accurate. The market should price in the fact that romanian companies have finaci al performances over those reported by companies in mature markets ecisive for the evolution of the BSE and international stock markets is the investor’s sentiment. In US, the FED’s gumption in finding new instruments ment to help financial recovery lead to temperating of the concerns regarding the current stage of the sub-prime crisis, and have been replaced by the US recession fears. Therefore, investors are back in watching the macroeconomic reports, which for now are giving contradictory signals. On Monday, the National Association of Realtors said sales of existing homes rose 2.9 percent in February, the first gain since last July, while, on Tuesday, Consumer confidence was reported to sank to a five-year low in March. The latter reading could be a serious proof that spending will likely drop, which deepen worries that economy has fallen into recession. Thus, the surprising gain in home ales should be, for the moment, treated as a trend’s exception, not a reversal.Regarding the BSE’s further evolution, it seems l ike the romanian investors are waiting for foreign investors to come, as there is the feeling that no spectacular raise could be seen until then. The last year was unique, as investors were waiting for a large number of foreign investors to accumulate domestic stocks after the EU admission. But, in recent months those investors are backing off. Hence, we estimate apathetic growths in the week to follow, but a swift in the trend is hard to imagine as long as investors don’t regard underlying fundamentals of the companies. link

Raiffeisen Capital & Investment - Investment Daily Romania - Mar 31, 2008 Mar 31, 2008, 10:35 CET | Broker’s Report | SeeNews In the news link

KD Capital Management - Bucharest Stock Exchange - Weekly Report - Mar 24 - 28, 2008 Mar 31, 2008, 13:44 CET | Broker’s Report | SeeNews 1. STOCK EXCHANGE OVERVIEW link

Romanian Bourse Indices Fall in Dull Trading Mar 31, 2008, 16:37 CET | Story | SeeNews BUCHAREST (Romania), March 31 (SeeNews) - The indices of the Bucharest Stock Exchange (BVB) lost ground on Monday in dull trading with expectations for a calm market in the next days, brokers said. link

Romania Schedule of Events - March 31 - May 15 Mar 31, 2008, 09:09 CET | Story | SeeNews BUCHAREST (Romania), March 31 (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 Loses A Little Ground vs Euro amid Regional Trend Mar 31, 2008, 18:03 CET | Story | SeeNews BUCHAREST (Romania), March 31 (SeeNews) - The Romanian leu lost a little ground on Monday to close at 3.7270/7320 per euro, weaker than Friday’s closing 3.7210/7250, in line with the currencies of other regional markets, dealers said. link

* SERBIA *

Serbia Extends Again Deadline for Sale of Transport Company Lasta to June 30 Mar 31, 2008, 13:53 CET | Story | SeeNews BELGRADE (Serbia), March 31 (SeeNews) - Serbia’s Privatisation Agency said it has extended the deadline for the sale of its 64.4% stake in transport company Lasta from April 4 to June 30. link

Bulgaria’s Sopharma Says Acquires 51%, Not 90% of Serbian Pharmaceutical Firm Ivancic and Sons Mar 31, 2008, 16:03 CET | Story | SeeNews SOFIA (Bulgaria), March 31 (SeeNews) - Bulgarian blue-chip drug maker Sopharma on Monday said it has acquired 51% of Serbian pharmaceutical firm Ivancic and Sons, and not 90% as it had reported earlier, for an undisclosed price. link

SERBIAN BLUE-CHIP TIGAR CORP REPORTS 263 MLN DINARS (3.2MLN EURO) IN CONS 2007 NET PROFIT, NO COMPARISON Mar 31, 2008, 17:49 CET | Alert | SeeNews link

Serbian Blue-chip Tigar Corporation Reports 263 Mln Dinars (3.2 Mln Euro) in Consolidated 2007 Net Profit Mar 31, 2008, 18:11 CET | Story | SeeNews BELGRADE (Serbia), March 31 (SeeNews) – Serbian blue-chip rubber and chemicals group Tigar Corporation on Monday reported 263 million dinars ($5.0 million/3.2million euor) in consolidated net profit for 2007 but issued no comparative figures due to changes in the ownership structure of its tyre-making unit. link

SERBIA’S 2007 GDP GROWTH ACCELERATES TO REAL 7.5% FROM 5.7% IN 2006 - STATS OFFICE Mar 31, 2008, 13:35 CET | Alert | SeeNews link

Serbia’s 2007 GDP Growth Speeds up to Real 7.5% from 5.7% in 2006 Mar 31, 2008, 13:51 CET | Story | SeeNews BELGRADE (Serbia), March 31 (SeeNews) - Serbia’s economy grew by a real 7.5% last year, faster than the 5.7% rise in the gross domestic product (GDP) recorded in 2006, the country’s statistics office said on Monday. link

UPDATE 1 - Serbia’s 2007 GDP Growth Speeds up to Real 7.5% from 5.7% in 2006 - Table Mar 31, 2008, 14:16 CET | Story | SeeNews (adds details) link

SERBIAN C-BANK SAYS KEEPS KEY REPO RATE UNCHANGED AT 14.5% Mar 31, 2008, 11:30 CET | Alert | SeeNews link

Serbian C-bank Keeps Key Repo Rate Unchanged at 14.5% Mar 31, 2008, 11:56 CET | Story | SeeNews BELGRADE (Serbia), March 31 (SeeNews) - Serbia’s central bank, NBS, on Monday said it decided to keep its key repo rate flat at 14.5%. link

SERBIA’S FEB INDUSTRIAL OUTPUT UP 12.2% Y/Y AFTER RISING 4.0% Y/Y IN JAN - STATS OFFICE Mar 31, 2008, 14:29 CET | Alert | SeeNews Serbia's Feb Industrial Output Rises 12.2% Y/Y - Table Mar 31, 2008, 14:33 CET | Story | SeeNews BELGRADE (Serbia), March 31 (SeeNews) - Serbia's February industrial output rose by 12.2% on the year after increasing by an annual 4.0% in January, the country's statistics office said on Monday. [link->http://seenews.com/news/latestnews/serbia_sfebindustrialoutputrises12_2_y_y-table-142917

SERBIA'S MARCH RETAIL PRICES RISE 1.2% M/M, UP 11.8% Y/Y - STATS BUREAU Mar 31, 2008, 14:37 CET | Alert | SeeNews [link->http://seenews.com/news/latestnews/serbia_smarchretailpricesrise1_2_m_m_up11_8_y_y-statsbureau-143637" class="spip_out">link

Serbia’s March Retail Prices Rise 1.2% M/M, Up 11.8% Y/Y - Table Mar 31, 2008, 14:50 CET | Story | SeeNews BELGRADE (Serbia), March 31 (SeeNews) - Serbia’s retail prices rose by 1.2% month-on-month in March after a 0.7% monthly increase in February, the country’s statistics office said on Monday. link

UPDATE 1 - Serbian C-bank Keeps Key Repo Rate Unchanged at 14.5% Mar 31, 2008, 17:02 CET | Story | SeeNews (adds March core inflation figure, NBS governor quotes) link

Belgrade Stock Exchange - Daily Report - Mar 28, 2008 Mar 31, 2008, 09:31 CET | Specialists Reports | SeeNews Belgrade Stock Exchange has published its daily report on trading volumes and prices for March 28, 2008 link

Sinteza Investment Group - Daily Market WrapUp - Mar 28, 2008 Mar 31, 2008, 10:36 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its Daily Market WrapUp for March 28, 2008, containg an overview of the Serbian Financial Market. link

Vojvodjanska Banka - Daily Vobnews - Mar 31, 2008 Mar 31, 2008, 10:43 CET | Broker’s Report | SeeNews Vojvodjanska banka released its Daily Vobnews Report for March 31, 2008 containing the following charts and tables: link

Sinteza Investment Group - Weekly Market WrapUp, Mar 24 - 28, 2008 Mar 31, 2008, 11:00 CET | Broker’s Report | SeeNews Highway Construction Put on Halt by GovernmentEnergoprojekt Seals the Deal with Zeleznice SrbijeThe Belgrade Stock Exchange witnessed another week in the red after just recovering the previous week. Overall trade was -5,46% less than the previous week and the number of transactions dropped by -12,70%. The indices also fell: BELEX15 lost -3,06% in value while the BELEXline closed -2,07% below last week’s result.The most traded stock this week was Nis based Aik Banka (BSE: AIKB) with a total of RSD 115,36 million in trade with Banini (BSE: BNNI) closing at second place with RSD 103,63 million in trade.The chemical, tyre and non-metal industry in Serbia reported a 33% export increase in 2007 over the previous year. Zorka Holding from Sabac will be leased to Farmakom by the end of next month while the State plans to further subsidize the holding company to prepare it for a third sell-off attempt. Binding bids for the sale of Genex real estate giant, were submitted by Delta Holdin g, Cepter and Greek based Lampsa, while no bids were submitted for the real estate on Kopaonik. Energoprojekt Holding (BSE: ENHL) and the State Railway company signed the agreement for the construction of a new railway station complex valued at EUR 230 million. It is estimated that the demand for real estate exceeds supply by 5 times in Belgrade and it is expected that prices will rise on average 15% annually. The most traded bond this week was A2012 with EUR 131,143 worth of trade and a price increase of 0,11%. The bond with the largest price drop was A2015 with -0,78% and a total turnover of EUR 23,329. Total trade turnover on the bonds market dropped by 24% in comparison to previous week’s result. link

Serbian Indices Start Week Higher in Dull Session Mar 31, 2008, 17:06 CET | Story | SeeNews BELGRADE (Serbia), March 31 (SeeNews) - Shares traded on the Belgrade Stock Exchange (BELEX) started the week higher in a dull Monday session lacking investor interest while Serbia’s ongoing political issues are unresolved, brokers said. link

Serbia Schedule of Events - March 31 - May 11 Mar 31, 2008, 10:11 CET | Story | SeeNews BELGRADE (Serbia), March 31 (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 *

STOCKWATCH – RCB Upgrades Slovenia’s Petrol to “Hold”, Cuts Target Price Mar 31, 2008, 18:14 CET | Analysis | SeeNews LJUBLJANA (Slovenia), March 31 (SeeNews) - Austria’s Raiffeisen Centrobank (RCB) on Monday upgraded Slovenian fuel trader Peotrol to “hold” recommendation from “sell”, but cut its target price to 671 euro ($1,064). link

Slovenian Food Producer Mlinotest Turns to Group Net Profit in 2007 Mar 31, 2008, 12:21 CET | Story | SeeNews LJUBLJANA (Slovenia), March 31 (SeeNews) - Slovenian food producer Mlinotest turned to a group net profit of 303,236 euro ($480,000) in 2007 from a loss of 377,488 euro a year earlier, and plans to more than double its group net profit in 2008, the company said on Monday. link

Slovenian Spa Resort Operator Terme Catez Raises 2007 Group Net Profit by Prelim 12.68% Mar 31, 2008, 12:27 CET | Story | SeeNews LJUBLJANA (Slovenia), March 31 (SeeNews) - Slovenian spa resort operator Terme Catez raised its 2007 group net profit by a preliminary 12.68% to 4.275 million euro ($6.76 million), as sales also increased, it said on Monday. link

SLOVENIAN BREWER PIVOVARNA LASKO SAYS TRIPLES 2007 GROUP NET PROFIT TO PRELIM 61.29 MLN EURO FROM 19.2 MLN EURO YR-AGO Mar 31, 2008, 16:09 CET | Alert | SeeNews link

SLOVENIAN BLUE-CHIP BANK NKBM RAISES 2007 GROUP NET PROFIT TO PRELIM 56.5 MLN EURO FROM 45.4 MLN EURO YR-AGO Mar 31, 2008, 16:31 CET | Alert | SeeNews link

Slovenian Brewer Lasko Triples 2007 Group Net Profit to Prelim 61.29 Mln Euro Mar 31, 2008, 16:32 CET | Story | SeeNews LJUBLJANA (Slovenia), March 31 (SeeNews) - Slovenia’s largest brewer, blue chip Pivovarna Lasko, raised its 2007 group net profit to a preliminary 61.29 million euro ($97 million) from 19.2 million euro a year earlier, the company said on Monday. link

Slovenia’s NKBM Bank Raises 2007 Group Net Profit to Prelim 56.5 Mln Euro, Sees Fall in 2008 Mar 31, 2008, 16:57 CET | Story | SeeNews LJUBLJANA (Slovenia), March 31 (SeeNews) - Slovenia’s second largest bank by assets, blue chip Nova Kreditna Banka Maribor (NKBM), raised its 2007 group net profit to a preliminary 56.5 million euro ($89.6 million) from 45.4 million euro a year earlier buts expects a fall this year, it said on Monday. link

Slovenian Food Maker Zito’s 2007 Group Net Profit Falls Slightly to 4.27 Mln Euro Mar 31, 2008, 18:10 CET | Story | SeeNews LJUBLJANA (Slovenia), March 31 (SeeNews) - Slovenian food producer Zito on Monday reported a group net profit of 4.27 million euro ($6.77 million) for 2007, down from 4.48 million a year ago despite a rise in sales. link

Slovenia’s Helios Preliminary 2007 Group Net Profit Falls 4.0%, Increase Seen in 2008 Mar 31, 2008, 18:30 CET | Story | SeeNews LJUBLJANA (Slovenia), March 31 (SeeNews) - Slovenian paint and coating producer Helios on Monday reported a 4.0% fall in 2007 group net profit to a preliminary 12.68 million euro ($20.1 million), despite a rise in sales, but forecast an increase this year. link

SLOVENIA MARCH CPI AT +1.3% M/M, +6.6% Y/Y VS. -0.1% M/M, +6.4% Y/Y IN FEB - STATS OFFICE Mar 31, 2008, 10:32 CET | Alert | SeeNews link

Slovenia’s March CPI Rises 6.6% Y/Y - Table Mar 31, 2008, 10:36 CET | Story | SeeNews LJUBLJANA (Slovenia), March 31 (SeeNews) - Slovenia’s March consumer price index (CPI), calculated under EU methodology, rose by 6.6% year-on-year, and was 1.3% higher than a month earlier, the country’s Statistics Office said on Monday. link

UPDATE 1 - Slovenia’s March CPI Rises 6.6% Y/Y - Table Mar 31, 2008, 11:35 CET | Story | SeeNews (adds details) link

Slovenia Schedule of Events - March 31 - May 15 Mar 31, 2008, 09:06 CET | Story | SeeNews LJUBLJANA (Slovenia), March 31 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Slovenia through May 15. New or amended entries are marked (*). link

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