SEENEWS – news report of 20.05.2008

News report of 20.05.2008

* Bosnia *

Bosnia Schedule of Events - May 20 - Oct 29 May 20, 2008, 09:02 CET | Story | SeeNews SARAJEVO (Bosnia and Herzegovina), May 20 (SeeNews) - Following is aschedule of corporate, economic and political events taking place in orrelated to Bosnia and Herzegovina through October 29. New or amendedentries are marked (*). link

* Bulgaria *

Bulgaria’s Expat Asset Management Gets Nod To Set up Two Mutual Funds May 20, 2008, 18:06 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) - Bulgaria’s financial regulator on Tuesday gave the green light to local company Expat Asset Management to launch two mutual funds. link

Bulgaria’s Financial Watchdog Licenses Capital Markets Asset Management May 20, 2008, 18:02 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) – Bulgaria’s financial regulator on Tuesday said it has licensed Capital Markets Asset Management for operations. link

Belgium’s KBC Asset Management Gets Green Light To Sell Fund in Bulgaria May 20, 2008, 17:47 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) – KBC Asset Management, part of Belgian banking and insurance group KBC, has got the green light from Bulgaria’s financial watchdog to sell its fund in the European Union newcomer, the regulator said on Tuesday. link

Bulgarian Regulator Declines to Endorse Polimeri’s Cap Hike May 20, 2008, 16:23 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) - Bulgarian chemical company Polimeri failed to get approval by the country’s financial regulator for a planned capital hike by 50 million levs ($39.9 million/25.5 million euro) because the issue price it proposed was much lower than the shares’ book value, the regulator said on Tuesday. link

Bulgarian Stocks Lose Ground, Liquidity Rises May 20, 2008, 15:17 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) - Most Bulgarian share indices lost ground on Tuesday in high volumes after four days of gains but are seen rising at the end of the week, brokers said. link

Bulgaria Will Not Hike Excise Duties on Oil Products Until 2011 May 20, 2008, 15:04 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) – Bulgaria’s Transport Minister Petar Mutafchiev on Tuesday said the government will not raise excise duties on oil products in the next two years to prevent a steeper rise in prices at the pump amid an increase of global oil prices, state-run news agency BTA reported. link

INTERVIEW – Bulgarian Company Pellets, Bulgarian-UK JV To Invest Up to 12 Mln Euro in Biomass Pellet Plants May 20, 2008, 13:41 CET | Interview | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) – Bulgarian company Pellets and Bulgarian-UK joint venture Bulgarian Renewable Energy Company plan to invest up to 12 million euro ($18.7 million) in the construction of three production units for biomass pellets, Pellets’ chief executive officer said. link

Bulgarian-Macedonian Joint Venture Embarks on 18 Mln Euro Investment May 20, 2008, 13:39 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) - Bulgarian-Macedonian joint venture Sofurban plans to open by the end of the year a factory for road paving elements as part of an 18 million euro ($28 million) investment in the European Union newcomer, a senior company official said on Tuesday. link

UPDATE 1 - Bulgarian Paint Producer Orgachim To Spin Off Anhydride Business May 20, 2008, 13:28 CET | Story | SeeNews (adds quote, details) link

Japanese-Bulgarian JV To Launch 35 MW Wind Park in July May 20, 2008, 13:10 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) - Kaliakra Wind Power, a joint venture of Mitsubishi Heavy Industries (MHI) and Bulgarian company Inos 1, plans to launch a 35 megawatt (MW) wind farm worth 53 million euro ($82.6 million) at the Black Sea coast on July 1, the company’s executive director said on Tuesday. link

Bulgarian Paint Producer Orgachim To Spin Off Anhydride Business May 20, 2008, 12:21 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) - Orgachim, Bulgaria’s largest manufacturer of paint and varnish, on Tuesday said it plans to spin off its business with phthalic and maleic anhydride. link

Bulgaria’s April Jobless Rate Falls to 6.51% from 8.38% Yr-Ago May 20, 2008, 11:54 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) – Bulgaria’s April unemployment rate fell to 6.51% from 8.38% a year earlier and 6.79% in March, official statistics indicated on Tuesday. link

BULGARIA’S APRIL JOBLESS RATE FALLS TO 6.51% FROM 8.38% YR-AGO – GOVT EMPLOYMENT AGENCY May 20, 2008, 11:32 CET | Alert | SeeNews link

FFBH - Bulgaria Morning Update - May 20, 2008 May 20, 2008, 11:15 CET | Broker’s Report | SeeNews MARKET WRAP-UP link

Elana - Bulgaria Daily Report - May 19, 2008 May 20, 2008, 10:37 CET | Broker’s Report | SeeNews Market Highlights link

Bulbrokers - Daily FX Analysis - May 20, 2008 May 20, 2008, 10:27 CET | Broker’s Report | SeeNews The dollar rose on better than expected economic outlook The dollar rebounded from a 2-1/2 week low versus the euro on Monday after a key forecasting gauge unexpectedly rose in April, suggesting that a sharp economic downturn in the U.S. might be nearing a bottom. On the other hand the euro may weaken ahead of two German confidence reports this week forecast to show Europe’s biggest economy is slowing.The U.S. dollar yesterday advanced after the Conference Board’s leading-indicator gauge increased 0.1 percent for a second month, better than forecast, the New York-based research group said today. The measure points to the direction of the economy over the next three to six months. The Canadian dollar was the top performer against its U.S. counterpart yesterday as oil prices held above $127 a barrel. The currency advanced 0.7 percent to C$0.9899 per U.S. dollar. Commodities including oil account for more than half of the nation’s exports. Canadian markets were closed yesterday for the Victoria Day holiday.Today from Germanyand Eurozone we are expecting data from the ZEW index about the economic sentiment in the regions. Overseas from U.S. we will expect the producer price index (PPI) data for the past month. link

Bulbrokers - USA Stock Markets Daily Review - May 20, 2008 May 20, 2008, 10:20 CET | Broker’s Report | SeeNews US stock market rose on positive economic expectations link

Greece’s Sidma Buys Out Minorities in Bulgarian, Romanian Units for 3.0 Mln Euro May 20, 2008, 09:56 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) - Greek steel products manufacturer and trader Sidma said it has bought out the minority shareholders in its Romanian and Bulgarian units for a combined 3.0 million euro ($4.7 million) as part of its strategy to further expand on the markets of the two EU newcomer states. link

Bulgarian Stock Exchange - Daily Report - May 19, 2008 May 20, 2008, 09:07 CET | Specialists Reports | SeeNews Bulgarian Stock Exchange has published its report on turnover and prices for May 19, 2008. link

Bulgarian Stock Exchange - Daily Bulletin, Selected Announcements - May 19, 2008 May 20, 2008, 08:56 CET | Specialists Reports | SeeNews Zlaten Lev Holding-Sofia, BSE code - HLEV, filed the following information with X3 News: Zlaten Lev Holding has granted a credit on amount of BGN 418,938.79 to Zlaten Lev Trading EOOD, a 100% subsidiary of Zlaten Lev Holding. The credit has a 7% interest rate per annum and maturity date on 30 September 2008.The entire notification is available at link

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ArcelorMittal Extends 30 Mln Euro in Emergency Funding to Bulgarian Steel Mill Kremikovtzi May 20, 2008, 08:50 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) - The world’s leading steel manufacturer ArcelorMittal has provided 30 million euro ($46.8 million) in emergency funding to Bulgarian debt-ridden steel mill Kremikovtzi to secure payment of the plant’s outstanding debt, Kremikovtzi said on Tuesday. link

Bulgaria Schedule of Events - May 20 - Nov 25 May 20, 2008, 08:25 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (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 *

Profit-Taking Drags Down Croatian Equity Market Lower May 20, 2008, 18:25 CET | Story | SeeNews ZAGREB (Croatia), May 20 (SeeNews) – Croatian equity indices on Tuesday shed more than two percent each on profit-taking, analysts said. link

Croatian’s Immorent Real Estate Leasing Deals Up 8.0% in 2007, Sees Faster Growth in 2008 May 20, 2008, 16:50 CET | Story | SeeNews ZAGREB (Croatia), May 20 (SeeNews) – Real estate leasing company S Immorent Leasing International Croatia signed new deals worth 78 million euro ($122 million) last year, up 8.0%, and plans a much faster growth in 2008, it said on Tuesday. link

STOCKWATCH - Croatia’s Hypo Bank Keeps Its “Buy” Recommendation on Croatia’s Tobacco, Tourism Group Adris May 20, 2008, 16:30 CET | Story | SeeNews ZAGREB (Croatia), May 20 (SeeNews) - Croatia’s Hypo Alpe-Adria-Bank said on Tuesday it keeps its ‘Buy’ recommendation on blue-chip tobacco and tourism company Adris and raises its target price for Adris preferred shares to 558 kuna ($120/77 euro) from 517 kuna. link

Croatia’s Dalekovod To Pay Flat 2007 Dividend May 20, 2008, 14:48 CET | Story | SeeNews ZAGREB (Croatia), May 20 (SeeNews) - Croatian blue-chip power transmission equipment manufacturer Dalekovod plans to pay a dividend of 12.65 kuna ($2.7/1.8 euro) per share for last year, unchanged from what it paid for 2006. link

Croatia’s April Industrial Output Rises 6.9% Y/Y May 20, 2008, 13:50 CET | Story | SeeNews ZAGREB (Croatia), May 20 (SeeNews) - Croatia’s industrial output rose by 6.9% on the year in April after growing by an annual 0.2% in March, the State Statistics Bureau said on Tuesday. link

CROATIA’S APRIL INDUSTRIAL OUTPUT UP 6.9% Y/Y AFTER RISING 0.2% Y/Y IN MARCH - STATS OFFICE May 20, 2008, 13:43 CET | Alert | SeeNews link

Erste Securities - Croatian Equity Daily - May 20, 2008 May 20, 2008, 10:59 CET | Broker’s Report | SeeNews Highlights: link

FIMA Stock Monitor - Daily - May 19, 2008 May 20, 2008, 09:54 CET | Broker’s Report | SeeNews Daily comment:Domestic capital market started the week in neutral mood as popular benchmark changed by only 0,01% in positive direction. Heavy constructor and power trunk producer Dalekovod (DLKV-R-A) increased its pipeline by additional HRK 420 million after the company announced it signed a deal with Croatian Motorways (HAC) to equip Osijek – Djakovo highway route with technical/electrical equipment. Dalekovod’s pipeline now amounts to some HRK 5 bn giving MkCap to pipeline ratio of 0,55. Dalekovod’s share gained 2,2% on HRK 3,8 million turnover. Preferred issue of tobacco and tourism company Adris group (ADRS-P-A) remained unchagned even though the company announced that they might acquire new companies in fish production field. Earlier this year, Adria Resorts, a subsidiary of Adris Group, acquired two companies involved in fish production business, Cenmar and Marimirna. Combined revenue of both companies is some HRK 80 million, while production reaches 1.300 tonnes of white fish, mainly sea bass and gold fish. Furthermore, Cenmar also produces around 15 million of juvenil fish species representing 90% of domestic production. With new acquisitions, Adris would increase production to some 5.000 tonnes of fish annually. Oil and gas company Ina (INA-R-A) lost 0,5% despite the fact that company initiated reconstruction of one of its refinery after it signed two contracts related to reconstraction and modernization of Sisak based refinery. Works should be completed in 2 year. With today’s closing at 11.709 pts, Baltic dry index continues with ATH movement fueling the performance of domestic shipping companies as Atlantska plovidba (ATPL-R-A) increased by 2,8%, while Jadroplov (JDPL-R-A) and Uljanik plovidba (ULPL-R-A) added 1,5% and 0,9%, respectively. link

Croatia Schedule of Events – May 20 - Sept 16 May 20, 2008, 09:00 CET | Story | SeeNews ZAGREB (Croatia), May 20 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Croatia through September 16. New or amended entries are marked (*). link

* Macedonia *

Four Bidders Vie for Concession on Macedonian International Airports May 20, 2008, 17:15 CET | Story | SeeNews SKOPJE (Macedonia), May 20 (SeeNews) – Four foreign bidders are vying for concession on Macedonia’s two international airports and the construction of a cargo airport in the country, the Transport Ministry said on Tuesday. link

Yields Rise on Macedonian 91-Day T-Bills May 20, 2008, 16:23 CET | Story | SeeNews SKOPJE (Macedonia), May 20 (SeeNews) - Yields on Macedonian three-month Treasury bills rose on Tuesday, central bank data showed. link

Macedonia’s IK Banka to Sell 62% to Dutch Demir-Halk Bank May 20, 2008, 16:17 CET | Story | SeeNews SKOPJE (Macedonia), May 20 (SeeNews) – Skopje-based Export&Credit bank - IK banka will sell 62% of its share capital to Dutch-registered Demir-Halk Bank (DHB) for an undisclosed sum, an official of the Macedonian bank said on Tuesday. link

Macedonia’s VIP Operator Enters Strategic Partnership with Vodafone May 20, 2008, 15:36 CET | Story | SeeNews SKOPJE (Macedonia), May 20 (SeeNews) - Macedonian wireless services provider VIP Operator has entered a strategic partnership deal with international mobile communications group Vodafone, getting access to its exclusive models, sponsorship and branding, VIP said on Tuesday. link

Macedonia Schedule of Events May 20 – Nov 28 May 20, 2008, 09:29 CET | Story | SeeNews SKOPJE (Macedonia), May 20 (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 Stock Exchange - Daily Report - May 19, 2008 May 20, 2008, 09:17 CET | Specialists Reports | SeeNews Macedonian Stock Exchange has published its report on turnover and prices for May 19, 2008. link

* Moldova *

Yields Fall on 3-Mo, 12-Mo Moldovan T-bills, Rise on 6-Mo T-bills May 20, 2008, 16:02 CET | Story | SeeNews CHISINAU (Moldova), May 20 (SeeNews) - The Moldovan central bank, BNM, on Tuesday sold 45 million lei ($4.3 million/2.8 million euro) in three Treasury bill issues, as yields fell on the three-month and one-year issues and rose on the six-month paper. link

Moldovan Banks’ End-April Credit Portfolio Up 52% Y/Y - Table May 20, 2008, 15:38 CET | Story | SeeNews CHISINAU (Moldova), May 20 (SeeNews) - The loan portfolio of Moldovan commercial banks totalled 23.3 billion lei ($2.3 billion/1.4 billion euro) at the end of April, up 52% from a year earlier, the country’s central bank, BNM, said on Tuesday. link

Moldovan Banks’ Deposit Portfolio Rises 47% Y/Y at End-April - Table May 20, 2008, 15:19 CET | Story | SeeNews CHISINAU (Moldova), May 20 (SeeNews) - The deposit portfolio of Moldovan commercial banks totalled 22.7 billion lei ($2.2 billion/1.4 billion euro) at the end of April, up 47% from a year earlier, the country’s central bank said on Tuesday. link

Moldova’s M1 Money Supply Rises 32% Y/Y at End-April May 20, 2008, 15:05 CET | Story | SeeNews CHISINAU (Moldova), May 20 (SeeNews) - Moldova’s M1 money supply at the end of April was 32% higher year-on-year at 10.8 billion lei ($1.04 billion/669 million euro), the country’s central bank, BNM, said on Tuesday. link

IMF Sees Moldova’s Economic Growth at 6.0% to 7.0%, Double-Digit Inflation in 2008 May 20, 2008, 14:54 CET | Story | SeeNews CHISINAU (Moldova), May 20 (SeeNews) - The International Monetary Fund (IMF) said on Tuesday that Moldova’s economy will probably grow by 6.0% to 7.0% in 2008 and that inflation rate in the country is unlikely to descend under 10% by the end of the year. link

Moldova Schedule of Events - May 20 - May 30 May 20, 2008, 09:58 CET | Story | SeeNews CHISINAU (Moldova), May 20 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Moldova through May 30. New or amended entries are marked (*) link

* Montenegro *

New Securities Exchange of Montenegro - Daily Report - May 19, 2008 May 20, 2008, 09:12 CET | Specialists Reports | SeeNews New Securities Exchange of Montenegro (NEX) has published its daily report on trading volumes and prices for May 19, 2008. link

* Romania *

Romania’s Distrigaz Sud 2007 Net Profit Up 15.5%, Turnover Stable May 20, 2008, 18:15 CET | Story | SeeNews BUCHAREST (Romania), May 20 (SeeNews) - Romania’s gas distributor Distrigaz Sud said on Tuesday its net profit grew by 15.5% to 182.3 million lei ($78.4 million/50.1 million euro) last year. link

EBRD Lends 10 Mln Euro to SocGen’s Romanian Unit To Back Energy Saving Projects May 20, 2008, 18:10 CET | Story | SeeNews BUCHAREST (Romania), May 20 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) on Tuesday said it has lent 10 million euro ($15.65 million) to Romania’s Development Bank (BRD) to back energy saving projects of Romanian businesses. link

Romanian Bourse Closes Lower in Correction May 20, 2008, 17:36 CET | Story | SeeNews BUCHAREST (Romania), May 20 (SeeNews) – Romanian bourse indices closed lower on Tuesday in an expected correction following rises in the past few days, brokers said. link

Romanian Leu Ends Weaker vs Euro in High Volatility May 20, 2008, 17:20 CET | Story | SeeNews BUCHAREST (Romania), May 20 (SeeNews) - The Romanian leu on Tuesday closed weaker against the euro in high market volatility, dealers said. link

UPDATE 1 - Romania’s Insurance Market Grows by Nominal 16.8% Y/Y in Q1’08, Marks Net Loss in 2007 May 20, 2008, 17:15 CET | Story | SeeNews (adds market’s loss figure for 2007) link

Bucharest Bourse Raises Share Capital to 76.7 Mln Lei (21.1 Mln Euro) May 20, 2008, 15:17 CET | Story | SeeNews BUCHAREST (Romania), May 20 (SeeNews) - The Bucharest Stock Exchange (BVB) said on Tuesday its shareholders have decided to increase its share capital to 76.7 million lei ($32.9 million/21.1 million euro) from 49.4 million lei. link

Romania Gets Three Non-Binding Bids for Aircraft Maker Avioane Craiova May 20, 2008, 15:02 CET | Story | SeeNews BUCHAREST (Romania), May 20 (SeeNews) - Romania said it received three non-binding bids for a 80.9778% stake in aircraft manufacturer Avioane Craiova by the deadline that expired on Tuesday. link

Italy’s Intesa Sanpaolo Romanian Unit Says Q1 Net Profit Rises 175% Y/Y, Hikes Capital May 20, 2008, 14:18 CET | Story | SeeNews BUCHAREST (Romania), May 20 (SeeNews) - The Romanian unit of Italian banking group Intesa Sanpaolo said on Tuesday its first-quarter net profit increased by 175% to 3.33 million lei ($1.43 million/915,500 euro). link

Romanian National Trade Register Office - Companies with Foreign Capital - Feb 2008 May 20, 2008, 14:12 CET | State Agencies Reports | SeeNews The Romanian National Trade Register Office has released its February 2008 statistics on companies with foreign capital by structure of the capital, country of origin of the investors and value of the subscribed capital. link

STOCKWATCH - RCI Keeps Romania’s Turbomecanica Stock Under Review May 20, 2008, 14:07 CET | Analysis | SeeNews BUCHAREST (Romania), May 20 (SeeNews) - Romania’s Raiffeisen Capital & Investment (RCI) said on Tuesday it keeps under review its recommendation on Romanian aircraft engine manufacturer Turbomecanica after the company reported negative first-quarter results. link

Romanian National Trade Register Office - Records in Central Trade Register, Feb 2008 May 20, 2008, 14:07 CET | State Agencies Reports | SeeNews The Romanian National Trade Register Office has released its monthly statistics on the number of companies registered in the country by counties, type of activity, sources of capital and category for February 2008. link

Ieba Trust - Company Report - Banca Transilvania SA, May 20, 2008 May 20, 2008, 13:49 CET | Broker’s Report | SeeNews Overview link

Ieba Trust - Company Report - Banca Transilvania SA, May 20, 2008 May 20, 2008, 13:44 CET | State Agencies Reports | SeeNews Overview link

Romania’s Insurance Market Grows by Nominal 16.8% Y/Y in Q1’08 May 20, 2008, 13:36 CET | Story | SeeNews BUCHAREST (Romania), May 20 (SeeNews) - Romania’s insurance market grew by a nominal 16.8% on the year to 2.38 billion lei in gross written premiums (GWP) in the first quarter of 2008, preliminary data from the country’s insurance regulator, CSA, showed on Tuesday. link

RC2 Cyprus Raises Stake in Romanian Dairy Farm Albalact to 17.03% May 20, 2008, 13:22 CET | Story | SeeNews BUCHAREST (Romania), April 23 (SeeNews) – The RC2 Cyprus Limited investment fund has raised its stake in Romanian dairy farm Albalact to 17.03% from 12.97%, the intermediary of the bid said on Tuesday. link

Romanian National Institute of Statistics -International Trade Statistical Bulletin - Feb 2008 May 20, 2008, 13:07 CET | State Agencies Reports | SeeNews Romanian National Institute of Statistics (INS) has released its monthly International Trade Statistical Bulletin for February 2008. link

Raiffeisen Capital & Investment - Company News Romania - Turbomecanica - First Impression Q1 2008 - May 20, 2008 May 20, 2008, 11:24 CET | Broker’s Report | SeeNews From bad to worseTurbomecanica, the aircraft engines manufacturer, has released its 4Q and FY 07 results under Romanian Accounting Standards (RAS). Results Results lower than expected expected: In line with the fourth quarter of last year, top line was negatively affected by reorganization of production and less business on the repair and maintenance side, mainly due to limited financing from the Ministry of Defense. Turnover was down 51% yoy to RON 8.5 mn, from RON 17.6 mn.On the costs side, raw material expenses were up 25% yoyto RON 7.6 mn, while utilities rose 74% yoy to RON 1 mn. Salaries and depreciation were rather flat yoy, while third party expenses were down 5.5% yoy. First quarter EBIT was in red by RON 4.9 mn, compared to a RON 1.1 mn operating profit last year.As explained by the management, the higher costs and consequently the loss were due especially to delays in the process of authorization of some transmission gears for Agusta, one of the company’s key customers. These delays translated in unsold finished good worth RON 3.7 mn. Apart, the production cell dedicated to Pratt&Witney under Lean Manufacturing System incurred significant costs, according to the company release.The company posted a net loss of RON 6 mn for the first quarter, negatively impacted by a 127% rise in the financial loss, mainly as a result of 85% hike in interest expenses. link

Raiffeisen Capital & Investment - Investment Daily Romania - May 20, 2008 May 20, 2008, 10:47 CET | Broker’s Report | SeeNews Trader’s CommentThe local exchange closed Monday on the rise, BET and BET-C rising 0.6% and 1% respectively, and BET-FI inching 0.2%. The total volume approached EUR 21 mn, pushed higher by two special transactions, one with Albalact (ALBZ) shares of EUR 3.3 mn and the other one with Comcereal Constanta shares (CCRL) amounting to EUR 6 mn. Even so, the volume, excluding these two transactions, stood at EUR 11.6 mn, relatively high compared with the average of the previous period.The session started in negative territory, all indices posting losses after the first fifteen minutes of trading, with SNP, one of the main BET components, showing losses nearing 2%. Closer to noon, the market began to climb, with the appearance of new buy orders, which drove higher the prices in the absence of sellers. Although the market seems to enroll on an ascendant trend, the buyers are still cautious, on fears of a new downturn.In the newsRemarul 16 Februarie to sell participation in associate Railway stock repairs and maintenance company Remarul 16 Februarie (REFE) called a GSM for June 23 (24). Shareholders are asked to approve the sale of its 49% stake in the associate TSR Remarul Special Trailers. The stake is to be sold to TSR Special Trailers BV, based in Holland, at a minimum price of EUR 0.65 mn. The inflow of cash can be used by the company to improve efficiency, thus we see the news as positive. link

Ieba Trust - Romanian Market Weekly - May 12 - 16, 2008 May 20, 2008, 10:13 CET | Broker’s Report | SeeNews 1A. Bucharest Stock Exchange Indicators link

Ieba Trust - Romanian Market Daily - May 19, 2008 May 20, 2008, 09:59 CET | Broker’s Report | SeeNews Trades with the shares of the five SIFs accounted for 47.08% of the Regular market daily turnover link

Greece’s Sidma Buys Out Minorities in Bulgarian, Romanian Units for 3.0 Mln Euro May 20, 2008, 09:56 CET | Story | SeeNews SOFIA (Bulgaria), May 20 (SeeNews) - Greek steel products manufacturer and trader Sidma said it has bought out the minority shareholders in its Romanian and Bulgarian units for a combined 3.0 million euro ($4.7 million) as part of its strategy to further expand on the markets of the two EU newcomer states. link

Romania Jan-April New Car Sales Rise 9.1% Y/Y - Table May 20, 2008, 09:38 CET | Story | SeeNews BUCHAREST (Romania), May 20 (SeeNews) - Sales of new passenger cars in Romania in the first four months of 2008 rose by 9.1% on the year to 90,594, the Romanian Car Producers and Importers Association, APIA, said on Tuesday. link

Bucharest Stock Exchange - Daily Report - RASDAQ Market - May 19, 2008 May 20, 2008, 09:26 CET | Specialists Reports | SeeNews Bucharest Stock Exchange has published its RASDAQ daily market report for May 19, 2008. link

Bucharest Stock Exchange - Daily Report - Regulated Market - May 19, 2008 May 20, 2008, 09:22 CET | Specialists Reports | SeeNews Bucharest Stock Exchange has published its report on trading volumes and prices on the regulated market for May 19, 2008. link

Romania’s Jan-April Passenger Car Output Rises 9.6% Y/Y May 20, 2008, 09:04 CET | Story | SeeNews BUCHAREST (Romania), May 20 (SeeNews) - Romania’s automobile industry manufactured 76,971 passenger cars in the first four months of 2008, up 9.6% on the year, the Romanian Car Producers and Importers Association (APIA) said on Tuesday. link

Romania Schedule of Events - May 20 - June 26 May 20, 2008, 08:53 CET | Story | SeeNews BUCHAREST (Romania), May 20 (SeeNews) - Following is a schedule of corporate, economic and political events taking place in or related to Romania through June 26. New or amended entries are marked (*). link

* Serbia *

Serbian Indices Rise in Calm Trading, Foreign Investors Seek to Buy Stocks May 20, 2008, 18:00 CET | Story | SeeNews BELGRADE (Serbia), May 20 (SeeNews) - The indices on Belgrade Stock Exchange (BELEX) rose on Tuesday in slightly higher turnover, but volumes remained rather low as the market is waiting to see whether the country will get a pro-European or a nationalist government, brokers said. link

Vojvodjanska Banka - Daily Vobnews - May 20, 2008 May 20, 2008, 13:46 CET | Broker’s Report | SeeNews Vojvodjanska banka released its Daily Vobnews Report for May 20, 2008 containing the following charts and tables: link

National Bank of Serbia - Balance of Payments - Jan - Mar 2008 May 20, 2008, 12:02 CET | State Agencies Reports | SeeNews National Bank of Serbia has published its monthly report on balance of payments for the period January - March 2008. link

National Bank of Serbia - Export of Goods - Mar 2007 May 20, 2008, 12:01 CET | State Agencies Reports | SeeNews The National Bank of Serbia NBS has released its monthly report on export of goods for March 2008. link

National Bank of Serbia - Import of Goods - Mar 2008 May 20, 2008, 12:00 CET | State Agencies Reports | SeeNews The National Bank of Serbia NBS has released its monthly report on import of goods for March 2008. link

National Bank of Serbia - Services - Jan - Mar 2008 May 20, 2008, 12:00 CET | State Agencies Reports | SeeNews The National Bank of Serbia NBS has released its monthly report on services for March 2008. link

Sinteza Investment Group - Daily Market Wrap Up - May 19, 2008 May 20, 2008, 11:46 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its Daily Market Wrap Up for May 19, 2008, containing an overview of the Serbian Financial Market. link

Sinteza Investment Group - Daily Market Wrap Up - May 16, 2008 May 20, 2008, 11:42 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its Daily Market Wrap Up for May 16, 2008, containing an overview of the Serbian Financial Market. link

Sinteza Investment Group - Daily Market Wrap Up - May 15, 2008 May 20, 2008, 11:39 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its Daily Market Wrap Up for May 15, 2008, containing an overview of the Serbian Financial Market. link

Sinteza Investment Group - Daily Market Wrap Up - May 14, 2008 May 20, 2008, 11:36 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its Daily Market Wrap Up for May 14, 2008, containing an overview of the Serbian Financial Market. link

Sinteza Investment Group - Daily Market Wrap Up - May 13, 2008 May 20, 2008, 11:33 CET | Broker’s Report | SeeNews Sinteza Investment Group has released its Daily Market Wrap Up for May 13, 2008, containing an overview of the Serbian Financial Market. link

Vojvodjanska Banka - Daily Vobnews - May 20, 2008 May 20, 2008, 11:07 CET | Broker’s Report | SeeNews Vojvodjanska banka released its Daily Vobnews Report for May 20, 2008 containing the following charts and tables: link

Sinteza Investment Group - Weekly Market Wrap Up, May 12 - 16, 2008 May 20, 2008, 09:45 CET | Broker’s Report | SeeNews Temporary Government Adopts 2009 Budget, Vows to Reduce Spending link

Belgrade Stock Exchange - Daily Report - May 19, 2008 May 20, 2008, 09:30 CET | Specialists Reports | SeeNews Belgrade Stock Exchange has published its daily report on trading volumes and prices for May 19, 2008 link

* Slovenia *

Slovenian Stock Indices Fall on Listless Market May 20, 2008, 17:32 CET | Story | SeeNews LJUBLJANA (Slovenia), May 20 (SeeNews) - Slovenian stock indices fell on Tuesday as investors remained passive, brokers said. link

German Insurer Allianz Sets Up Branch in Slovenia May 20, 2008, 13:58 CET | Story | SeeNews LJUBLJANA (Slovenia), May 20 (SeeNews) - German insurer Allianz said on Tuesday it has set up a branch in Slovenia, which will offer insurance products and services to corporate partners. link

Slovenia’s Tosama Proposes To Pay No 2007 Dividend May 20, 2008, 12:43 CET | Story | SeeNews LJUBLJANA (Slovenia), May 20 (SeeNews) - Tosama, a Slovenian producer of auxiliary medical supplies and hygienic items, is planning to pay no dividend for 2007 after paying 0.8 euro ($1.3) per share in dividend for the previous year, it said on Tuesday. link

Slovenian Statistical Office - Turnover and New Orders in Industry - Mar 2008 May 20, 2008, 11:59 CET | State Agencies Reports | SeeNews In March 2008 turnoverin industry at annual level grew by 0.3%, while the value of new orders decreased by 9.5%.Turnover in March 2008 lower than a month earlier but slightly higher than a year agoThe seasonally adjusted index indicates 3.3% lower turnover in March compared to February. At the same time, if we eliminate the influence of the number of working days, industrial enterprises created 0.3% more turnover in March 2008 than in the same period a year ago. In comparison with February 2008, seasonally adjusted data show a decrease of turnover in March 2008 in manufacturing and in mining and quarrying: by 3.2% and by 8.9%, respectively. Workingday adjusted data in March 2008 show 0.5% higher turnover in manufacturing and 10.9% lower turnover in mining and quarrying, both compared to March 2007. In March 2008 compared to the previous month turnover decreased by 3.9% in intermediate goods industries, by 5.1% in capital goods industries and by 0.1% in consumer goods industries. In March lower turnover in both the domestic and non-domestic market at monthly levelIn March 2008 industrial enterprises created less domestic and non-domestic turnover than in month earlier. In this comparison seasonally adjusted data show that domestic turnover decreased by 3.2% and non-domestic turnover by 3.3%. According to working-day adjusted data, in March 2008 compared to the same period a year before domestic turnover decreased by 2.2%, while nondomestic turnover increased by 1.4%.In March higher value of new orders at monthly level but lower at annual levelCompared to the month earlier, the value of new orders in industry received in March increased by 4.7% but it decreased compared to March 2007, by 9.5%. Compared to February 2008, in March 2008 the value of new orders from the domestic market grew by 18.8% and from the non-domestic market by 2.0%. Compared to March 2007, the value of new orders from the domestic market fell by 16.4% and from the non-domestic market by 7.8%.1) At the moment the influence of the season and thumber of working days cannot be eliminated because the series is too short. Detailed data on indices of turnover and new orders in industry for March 2008 will be published on 23rd May 2008 in the SI-STAT database on SORS’s website. link

Slovenia’s March Industrial Sales Fall 3.3% M/M - Table May 20, 2008, 11:00 CET | Story | SeeNews LJUBLJANA (Slovenia), May 20 (SeeNews) - Slovenia’s March industrial sales fell by a real 3.3% month-on-month after growing by 2.8% in February, the State Statistics Office said on Tuesday. link

SLOVENIA’S MARCH INDUSTRIAL SALES DOWN 3.3% M/M, UP 0.3% Y/Y VS. +2.8% M/M, +8.6% Y/Y IN FEB - STATS OFFICE May 20, 2008, 10:50 CET | Alert | SeeNews link

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