Vous êtes sur la page 1sur 20

berzNIK - YEAR II - NUMBER 29 -30th JUNE 2008 - (SUPPLEMENT OF TENDERNIK)

Date 30.06.2008 number 29


DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
berzNIK
3

Oil fever captivates the world – Euro-neighbor fever


captivates Macedonia
One more week for the oil fever… Oil shock is still in the in near future. The best image for the events in Jeddah, tho-
focus of the world. The price stampede of this energy source ugh, is the statement by the British Prime Minister Gordon
continues its upward trend… The charts of the last week`s Brown – the only thing we have agreed upon is that oil prices
last trading day on the world stock markets had the same in- are very high.
tensive growth… On the London Stock Exchange the Ameri- The explanation on the global oil price shock is not only
can light oil was sold for $ 142.26 a barrel, while the Europe- a result of its reflection of the price growth in this country; the
an Brent of the North Sea reached price of $ 142.13 a barrel. debate how to absorb the price shock that generates price in-
When talking about the global oil market the prognoses con- crease of other products as well, and which finally accelera-
tinue lacking a dose of optimism and it is even predicted this tes the inflation… this time at least the Government managed
energy source to rise in price for approximately ten dollars to adopt eight measures – farmers and transporters are sat-
this week. In this way the oil would reach a record price of isfied.. I believe some other subjects that are part of the pro-
$145 a barrel, Russian analysts warn. As a reason for that duction chain as well, while the citizens, who will, anyway,
the announced strikes of the Chevron Nigeria workers are feel the benefits of such huge measures with a relative delay,
mentioned, which is expected to result in supply reduction of should manage themselves. What is more – they even have
the energy source on the to drive, which is a luxury when taking into consideration the
- Forming the Government as soon as possible, stock markets. Moreover, average salary in this country… Not to say that even Guin-
implementing the Framework Agreement, and resolv- the speculative trading ness may envy us on how with the average Macedonian sa-
ing the name dispute with Greece in order Macedonia by some dealers is men- lary one could feed the entire family, pay the obligations as a
to obtain NATO invitation – this was the message of the tioned as an additional loyal citizen of the country and educate the children… What
U.S. Deputy Assistant Secretary of State Rosemary reason for the expected is important is that the definite calculations for all separate
DiCarlo considering that everybody is unanimous that oil price increase which measures will be done in the following 10 days and part of
the county has met all the criteria. can cause price growth these measures will not have direct fiscal implications for the
- The same conclusions, the same commentaries of the energy source up citizens.
for God knows how many times… You do not want to to the psychological limit Anyway, the oil price fluctuations were not my point, but
be in Prime Minister Nikola Gruevski`s place…What of 140 dollars per barrel Brown`s conclusion: the only thing we have agreed upon is
would you rather do… establish Government in a very and then work up to the that oil prices are very high… It is a thesis which reminds me
sensitive moment, with even more sensitive leaders… level of 145 dollars per a lot of the political conclusion by the mediators in the name
or, maintain social peace and, of course, find a solution barrel. negotiations of our country. The only fact everybody agrees
on how we are going to call ourselves, certainly on be- However, there is a upon is that the name selection of this country should be
half of the good neighboring relations according to the dose of optimism among negotiated. North, Upper, Lower, it is still Macedonia…
principle of global democracy… If one can call it that energy experts that the- Evidence for that is Matthey Nimitz`s statement: Both
way… as what is prepared for us as a democratic style, se black prognoses for countries are interested to see whether the issue could be re-
mediators failed to impose as a cultural manner to their new oil record prices will solved now. Both sides have a very serious approach. I wo-
political promoters in our country… and they, I am not not come true. It is an en- uld not say the differences have decreased as the points of
familiar with the reasons, instead of communicating in couraging conclusion view on resolving the issue still differ, but both countries
a cultural way with clients as their potential guests or emerging from the anno- expressed preparedness to consider the opportunity a
tourists – in this case Macedonian citizens, in their em- uncements of the leading progress to be made right now.
bassies located in our country, practice humiliating and producers and consu- As he said, he understands the position of both sides
offensive way of communication. Criteria, which not mers of this raw material and believes they are interested in resolving the issue as
nearly remind on decent democracy they refer to con- at the meeting in the Sa- they have a serious approach.
stantly… However, when taking about democracy they udi City of Jeddah. The - I cannot say the gap has been decreased, but it is
can learn from us – or, as Antonio Milososki says, positive announcement mutual assessment that it is a very good time now to see
even though as a winning coalition we have no need of by the world leading oil what could be done. I believe there is preparedness here for
any other party for majority in the Parliament, yet, we producer Saudi Arabia finding a solution and surmounting the differences, Nimitz
will take at least one party of the Macedonian Albani- also adds up to the opti- said. Regarding a referendum for the name of the country he
ans in the new Government… Surely, even without em- mism in this field that it thinks it is a matter of decision of the country solely. How-
phasizing the democratic tolerance, the winning party will increase the produc- ever, the negotiations do neither concern identity nor the lan-
is absolutely aware that unlike the democracy the Eu- tion for about 200 thou- guage but the name of the country. At least this was the infor-
ropean forces are prompting to us, we, the people in sand barrels in July. The mation by the Greek radio Sky after Nimitz`s meeting with the
Macedonia, always have understanding for every- additional production of Chief of the Greek diplomacy Bakoyannis and the Macedo-
body… Just look back in time, yet from the Krusevo 300 thousand barrels on nian state leadership.
Republic… always with everybody and freedom for a daily basis from the last Macedonian position is clear – to keep the identity and
everybody… which, unfortunately, is not the case nei- month is in its favor as dignity of the nation.
ther with the neighbors nor with some major world de- well. Still, these announ- Nevertheless, one cannot expect the name issue to be
mocracies that nowadays dictate principles of democ- cements by Saudi Ara- resolved until July 9, a datum when Macedonia could obtain
racy… bia, according to both NATO membership together with Albania and Croatia. Even
world and domestic me- DiCarlo did not precisely say whether the date July 9, which
dia from there, were not supported by the rest of the mem- was mentioned as a deadline, remains and whether Macedo-
bers of the Organization of the Petroleum Exporting Countri- nia can resolve this issue by then.
es (OPEC). Majority of OPEC members believe that there is In addition, around 20 citizens of Gevgelija welcomed
no need of increasing the daily oil production as the rise of its the Special Representative Nimitz, who arrived in Macedonia
price is not a result of market deficit of the energy source but from Athens through the border crossing Bogorodica, with
of the tensions in the oil rich districts, the global economic cri- the paroles: Welcome in Macedonia; I am Macedonian; This
sis and the speculative trading. is Macedonia…
Nevertheless, the oil price depreciation is not expected
Until the next Monday
Makedonka Baldazarska
BerzNIK editor-in-chief
e-mail: berzNIK@interNIK.com.mk
4 berzNIK number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
Date 30.06.2008

STOCK EXCHANGE NEWS...

The Wien stock exchange is taking over the stock market from Tehnometal Vardar has
Ljubljana become the owner of 10.41% of
The media in Slovenia have informed that in the last circle of the procedure for buying
Makoshped
81.01% of the owner’s participation in the stock exchange from Ljubljana, the stock exchange
from Wien had submitted the best offer. From the stock exchange, they announced that the offi- Tehnometal Vardar is the new sharehol-
cial signing of the purchasing deal will occur during this week. Regarding that the stock der in Makoshped. The company now owns
exchange from Ljubljana owns a dominant market participation in its activity in the country, in 10.41 percents of the total number of shares
order to make the deal official, the buyer would previously have to receive consent from the with the right to vote, or 82 106 regular sha-
Slovenian antimonopoly office. res that they have bought from the recent
shareholder Basko Talevski, who now does
In the last round of the fight for taking over of the ownership for the stock exchange in not own any shares in the forwarding com-
Ljubljana, remained only the Greek,” Hellenic Exchanges”, and the Austrian “Wiener Börse” pany.
Until February this year, the consortium of owners of Ljubljana stock Exchange, composed The shares of Makoshped were sold in
of Slovenian banks and stock brokerage houses, had been taking unbinding offers for buying a block transaction on the Official market –
off of the majority participation, while in the middle of April, the Greek and the Austrian stock stock exchange quotation since one week
exchange, as the best of bidders were enabled to perform inspection in the working of the stock ago. The shares were sold for 1 200 denars,
exchange in order to get full image of the realized financial results. and the cvalue of the total transaction
amounted 98.5 millions of denars or 1.6 mil-
In the following few weeks, the Wien stock exchange is expected to increase its participa- lions of euros.
tion in the stock exchange in Budapest too, from the current 12.5% to 37.7%.

THE USAID PROJECT FOR COMPETITIVENESS AND AWARD FROM PUBLIC REVENUE OFFICE
CLASTER FOR TEXTILE
Golden card for Zito Luks
By means of departments for modeling and
design to bigger export Golden card for VAT’s return, is being awarded for a first time in 2008 to
37 companies, major tax payers, which in 2007 had met the previous estab-
On the 25th of June, 2008, the USAID project for competitive- lished criteria of PRO for awarding this reward
ness in cooperation with the textile trading association – Claster for
textile, has awarded certificates to seven textile companies whose
employees have completed the training for Gerber CAD/CAM soft- Zito Luks a.d Skopje is pleased to announce that is winner of this
ware. The intensive 10 – days training will enable these leading reward: Golden card for VAT’s return. The Public Revenue Office awards
textile companies to move towards the production of clean export, this reward in order to establish partnership relation with tax payers who
and with that the export of the products with VAT of the Macedonian in time and regularly are meeting their tax responsibilities.
textile companies will increase.
The Golden card for VAT’s return is being awarded for a first time in
- The rest of the growth of the textile sector in Macedonia in 2008 to 37 companies, major tax payers, which in 2007 had met the pre-
the following two to three years would be possible only with total vious established criteria of PRO for awarding this reward.
transformation of the production in clean export, said Vlado Net-
kov, president of the Textile trading company – Claster for textile. One of the strategic assignments of Zito Luks a.d. Skopje is to build
– The first precondition for adopting the clean export is founding the strong relations with the institutions and social partners in Republic of
departments for modeling and design, as well as effective use of Macedonia through in time and regularly meeting of the tax responsibili-
CAD/CAM technology. ties.

Margareta Lipkovska – Atanasov, specialist for economic The Golden card is


development in USAID explained: - With this training and other in- honor and privilege, but
terventions, USAID Macedonia continues to support the efforts of above all responsibility
the textile companies in Macedonia for increasing the range of the and effort for further im-
production in clean export, while promoting their competitiveness plementation of the hi-
on the global market. These interventions will help the textile indus- gher standards in the fi-
try to keep the working posts and to increase the potential for a nancial and legal res-
long term development. ponsibilities.

The training has been implemented by training expert from Zito Luks will contin-
Slovenia, Slavka Jelinkar from Gregorcic, Zastupstvo, and region- ue to build strong relati-
al representative of Gerber technologies. The participants in the ons with all partners, in-
training are expected to perform training of three employees in eve- cluding the local authori-
ry of the companies where they will be working and with that to in- ties, suppliers and the
crease the local capacity of CAD/CAM software operators for 24 employees, completely
experts. Besides that, the participants were held training for two respecting the home
software packages for improving the management of the produc- and European standards
tion lines, including the monitoring and the control of the textile pro- and regulations.
duction, as well as developing the standard time period for technol-
ogy operations.
Date 30.06.2008 number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
berzNIK
5
C O N T E N T S 23.06.2008 MONDAY
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . 3 1. SHORT REVIEW OF EVENTS
STOCK EXCHANGE NEWS... . . . . . . . . . . . . . . . . . . . . 4 Another weak Macedonian Stock Exchange ment is defined.
week, is the general conclusion from the weekly Utrinski vesnik announces: The crop of the
berzNIK, MONDAY, TUESDAY, WEDNESDAY........... 5-7 stock exchange analyses being top news in today`s wheat is yet to start, but disputes between bakers
newspapers. According to Vecer, the share drop on and farmers about the purchase price of wheat,
CONVERSATION ON THE OCCASION.... . . . . . 8-9 Macedonian stock exchange, continued. MBI-10 re- which affect the final price of the bread, baked dish-
MACEDONIAN CHAMBER OF COMMERCE
corded the biggest decline in the past seven weeks, es and pasta, have already started. Farmers de-
ESTABLISHES CONSTRUCTION ending on a value of 5.012 points. The average mand 15 denars per kilogram wheat, and millers of-
ASSOCIATION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8-9 weekly prices of the most liquid shares recorded fer 2denars less. But this price also does no give the
decline up to 12 percent. Total turnover of 4.3 million opportunity to make calculations for the new bread
PROMOTION OF THE MEMORANDUM OF THE euros was realized which compared with past week price. The reason for the silence lies in the stabilizati-
MACEDONIAN BUSINESS COMMUNITY. . . 10-11 is an increase of modest 10%. Half of the turnover on of the bread wheat price on stock exchanges,
was realized on the Official market, and the biggest which implies that there will be no bread price in-
OHRIDSKA BANKA SOCIETE GENERALE participation had the block transaction which sold crease in the next period. But, the bread price might
GROUP.................................................11 10% from the capital of Makosped in value of 1.6 mil- be increased due to other reasons – the energy, re-
ALBANIAN HARBOR, ALTERNATIVE FOR lion euros. Vreme informs that the index MBI-10 garding the predictions that oil might still increase.
MACEDONIAN TRANSPORT COMPANIES......12 drastically declines and the market value of the 10th According to experts, bread price soon might under-
most liquid companies from the beginning of this go increase but just under the influence of the oil
PIOM ON PERIOD JANUARY-MAY 2008.........12 year until today is increased for 35 percent. Biznis which takes big part in the final price.
concludes: If last year “won” the title of the most eu- And as far as oil prices are concerned everyone
berzNIK, THURSDAY, FRIDAY, SATURDAY ..............13-15 phoric and record breaking, following last week we has its own story. High prices of gold, subject of dis-
can say that current year has nothing to do with the cussions at the meeting in Saudi Arabia on which
WEEKLY MAGAZINES.....................................16 euphoria on MSE. Last week is the third or fourth, representatives of the countries-oil producers discu-
EVENTS THAT MARKED THE WEEK..............17 from the beginning of the year, when share price re- ssed the more expensive prices of the black gold. As
cord sloping trend several days in a row. CNN and BBC agencies announced yesterday, USA
WEEKLY REVIEW OF THE MACEDONIAN STOCK The public today focused on the oil price and the and the other consumer-countries called the produc-
EXCHANGE...............................................18-19 products` price growth produced by its growth. - Pe- ers to increase the supply, because the reason for
lagonija under a price shock, liter oil per handful of the high prices they see in the lack of productivity.
Saudi King Abdula bin Azis said that the biggest oil
I M P R E S S U M wheat. The barns will stay empty, and the cattle hun-
gry if the state does not undertake any actions for mi- producer, Saudi Arabia, was increasing the daily pro-
tigating the price shock. This is the reaction of the duction of about 500.000 barrels in attempt to calm
agricultural workers from Pelagonija, the biggest the concerns down about the reduce of supply, from
wheat producer in the country, where the harvesters 9 to 9,7 million barrels. King Abdula also made an
have harvested the first spikes of barley. This wheat appeal to the OPEC member-countries to allocate
Publishing: INTERNACIONAL NIK AD - Skopje product is rich with fruits, but the increase of the pri- one billion dollars for the poorer countries for strate-
Media library and digital archive
Editors office: berzNIK ces is a torture for them, having reached a price of gy on reduce of crisis with the high oil prices. He also
Address: Square MAKEDONIJA bb, p.box 882 Skopje, 1000, 74.5 denars per liter. The calculations show that in added that the Kingdom will offer loans of 500 million
R.Makedonija order to harvest a field from one hectare of barley, dollars for the countries with lack of oil.
Phone. 02/25.32.800 faks: 02/25.32.839 the agricultural workers need to pay 1.400 denars Veles is Macedonian Chernobyl, this was the
web: www.interNIK.com.mk; per fuel. DOM`s conclusion. Today in all newspapers the
e-mail: info@interNIK.com.mk According to analysis of the Macedonian agricul- news that Veles smelter` restart returns the concern
Executive Director: Zdravko Josifovski turists union, as more newspapers inform, there will in the city. Citizens of Veles fight against its biggest
Account Menager: Divna Pesic be market surplus of wheat of around 25.000 tons enemy – the smelter believing that they have to
Public relations: Natasa Dimovska this year in the region of Bitola, and less quantity is win…In the past few decades the smelter made too
ICT Manager: Kiro Velkovski expected from the Prilep region of Pelagonija. The much troubles to citizens of Veles, transforming this
Marketing manager: Ivona Josifovska president of the union, Veljo Tantarov, summoned city into Macedonian Chernobyl, where peoples`
Assistent: Stojne Danilova
Logistics manager: Ana Petrova
the agriculturists not to give the wheat from this health was marginalized. This is the attitude of the
Finance manager: Gordana Stojanovska years` harvest, which will start on 10 July, lower than party DOM, expressing concern about events related
15 denars per kilo until the way and the time of pay- to smelter`s sale sympathizing with citizens of Veles.
STOCK EXCHANGE REVIEW OF EVENTS IN THE
PRINT MEDIA berzNIK 2. TOP NEWS - IMPORTANCE BY NUMBER OF PUBLICATIONS
berzNIK is founded in year 2007. 1. MBI – 10 HAS HAD THE BIGGEST DECREASE (****)
2. LOWER OIL PRICES? (****)
STOCK EXCHANGE REVIEW OF EVENTS IN THE
PRINT MEDIA berzNIK DNEVNIK ERS AND BAKERS?
Number: 29 p.8 ONLY THREE PRILEP FIRMS APPLIED HACCP
Date: 30.06.2008
p.1 LITER OIL PER HANDFUL OF WHEAT
p.5 LITER OIL PER HANDFUL OF WHEAT SYSTEM
IT IS DISTRIBUTED FOR SUBSCRIBERS ONLY p.5 DOM AGAINST THE SMELTERY p.8 AGRICULTURISTS FROM STRUMICA INSIST
p.9 IN KUMANOVO TO BE INSTALLED GAS PIPES ON SUBVENTIONS
FRONT PAGE PHOTO: p.9 THREE COMPANIES FROM PRILEP WITH THE p.9 EVERYBODY HAS THEIR OWN STORY ABO-
HACCP SYSTEM UT THE EXPENSIVE OIL
BIZNIS p.9 HELLENIC PETROLEUM TAKES OVER BUL-
Photo: p.3 RUSH ON ALLO – PACKAGES OF COSMOFON GARIAN COMPANY OPET
Robert Spasovski p.13 WE ARE PROJECTED TO OPERATE ON BIG VECER
Editorial staff of berzNIK MARKET p.7 MBI – 10 HAS HAD THE BIGGEST DECREASE
Internet distributive system: www.interNIK.com.mk p.15 МBI 20.06.2008 p.7 FIRST TO BUY OFF THE DOMESTIC WHEAT
Editor: Makedonka Baldazarska p.15 FALL OF THE INDEXES MBI-10, MBID AND p.8 LOWER OIL PRICES?
Journalist: Vaska Mickoska, Kiro Simonovski OMB p.8 VELES ID THE MACEDONIAN CHERNOBYL
DTP: Tatijana Trpkovska p.15 INCREASED TURNOVER UP TO 136.5 MILLI- VREME
Editorial staff: ON DENARS p.8 GREAT DEMAND FOR OIL
News Evaluator: Anita Bashoska, R. Tasovska p.16 IN A BLOCK TRANSACTION SOLD 10 PER- p.8 MBI INDEX REDUCES FOR ONE THIRD
[operators]:Mare Lazarevska, Arslan Skoro, Zoran Stamatovski, CENT FROM MAKOSPED p.8 APRICOTS TRAVEL TO RUSSIA
Martin Arsovski, Gorge Redzik, Toni Arsovski i Darko Tripunovski p.16 SHARE PRICES DROP INTENSIVELY NOVA MAKEDONIJA
[translators]: translator's manager Senka Mihajlovska, Angelina p.8 FUNDS DID NOT PROTECT MBI-10
Filipovska, Slobodan Trajkovski, Aleksandar Stamenkovski, Aneta
p.17 REASONABLE OIL PRICE – 100 US DOLLARS
Menoska, Filip Koviloski, Darko Ivanovski A BARREL p.8 OPEC DOES NOT WISH TO INCREASE OIL
Fotoreporter: Robert Spasovski UTRINSKI VESNIK PRODUCTION
p.1 THE SMELTER RETURNS THE CONCERN OF p.8 DOM SUPPORTS CITIZENS OF VELES AGA-
Marketing, distribucija i prodazba: VELES INST THE SMELTERY
INTERNACIONAL NIK AD - Skopje p.5 THE SMELTER RETURNS THE CONCERN OF SPIC
VELES p.6 DOM COMPARED VELES TO CHERNOBYL
p.8 WHAT BREAD PRICE WILL PREPARE FARM-
6 berzNIK number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
Date 30.06.2008

24.06.2008 TUESDAY
1. SHORT REVIEW OF EVENTS
The realization of this year strategy of Ma- which goes within the frames of CEFTA 2006. gular trade introduces turbulent summer on
kedonski Telekom is the top news in today print- Dnevnik informs on recent opportunity gi- MSE. Indices were colored red again. MBI-10
ed media editions. By the end of 2008 Telekom ven to export-import companies, to pay duties in dropped the limit of 5,000 points and closed at
will finish the process of repositioning of compa- their facilities. But only 70% of companies use 4,898.23 points loosing -2.28%, and MBID drop-
ny`s product portfolio, which first step was reb- that opportunities. Owners of companies that ped by -5.08%. Almost 28% of the turnover, or
randing in T-Home. In this direction, starting July use simplified customs procedures brag for 9.6 million denars were realized by shares of
the 1st, there is news related to cancelation of spending more time and money. Other busines- Makstil yesterday.
the standard subscription which included 100 smen complain on problems in order of meeting Public`s interest remains on the enormous
free-of-charge minutes, which, company offici- criteria for obtaining license for performing duty increase of oil price on world markets. Urgent
als say, will be repositioned, i.e. included in ot- payment. According to them, the major obstacle talks of the major oil powers and biggest consu-
her packages, such as “my circle”, IP (internet are high banking provisions for receiving bank- mers in the world during the weekend finished
protocol) television and other services. T-Home ing guarantee, which should cover possible du- without outcome. Oil price increased again after
announced introduction of the service “televisi- ty-payment. the summit in Jeddah. American light crude oil
on via internet” (IPTV, internet via television pro- Biznis conveys: The agreement between for August increased by 1.89 dollars to reach
tocol), which is to start this autumn. Company farmers and diaries became barren. Instead of over 136 dollars per barrel, which in London in-
officials yesterday explained that television via increasing of the milk purchasing price in paral- creased by 1.29 dollars and reached 136.15 do-
internet represents sophisticated change for lel to the increase of the fodder and other ex- llars per barrel. Oil increases despite Saudi pro-
cable and satellite television, but also video penses for production, diaries cut by 5 denars mises to increase the production by extra
shops, Vreme informs. per liter. Major reactions came from farmers 200,000 barrels a day. Oil increased despite Sa-
The trade between Macedonia and Albania from Strumica who cooperate with Zdravje Ra- udi Arabian promise to increase daily production
constantly grows and last year reached 92.2 mi- dovo, by previously signed agreements. Accord- by extra 200,000 barrels, Vest informs. World
llion American dollars. According to records of ing to clauses in the partnership agreement, trends of oil increase affect our country as well.
the Economic Chamber of Macedonia, large milk purchasing price is pegged to the price of According to the decision of the Energy Regula-
grow of trade is marked from 2006 and on, when the fodder. By the same percentage of increase tory Commission, starting today, fuels retail pri-
both countries traded goods in amount of 52.3 and according to the recent dynamics of increa- ces increased by 2 denars, and diesel 1.5 de-
million dollars, Vecer informs. Past two years, se, farmers expected milk purchasing price to nars. In the n ext 15 days MB-96 will be sold at
annual trade reached 30 million dollars and in reach 30 denars per liter. 80.5 denars per liter, eurosuper-95 will cost 77.5
2001 only 11.4 million dollars. As analyzed by Biznis also conveys results of yesterday tra- instead of recent 75.5 denars. Eurosuper-98 will
the Economic Chamber, sloping up trend of the de on Macedonian Stock Exchange. Although be sold at 78.5 denars per liter. Eurodiesel (D-E
trade in the past two years is a result of the tra- most of the turnover was realized by shares of IV) will be sold at 76 denars per liter instead of
de liberalization between the two countries MBI-10 components, yet, 34.3 million denars re- recent 74.5 denars, all papers covey.

2. TOP NEWS - IMPORTANCE BY NUMBER OF PUBLICATIONS


1. TELEKOM TO BROADCAST TV IN AUTUMN (*****)
2. DRASTIC INCREASE OF THE PRICE OF THE PETROL – ONE LITER PER 80.5
DENARS (****)
DNEVNIK p.9 TELEKOM TO CANCEL THE FREE ONE HUNDRED MINUTES
p.7 THE BANKS AN OBSTACLE FOR SIMPLIFIED CLEAR¬ING OF CONVERSATION
p.7 PETROL WITH PRICE OVER 80 DENARS VECER
p.7 HIGHER PHONE BILLS p.7 PETROL TO DRIVE AT 80, 5 DENARS PER LITTER
BIZNIS p.8 TELECOM DISALLOWED THE 100 FREE MINUTES
p.4 DIARIES CUT BY 5 DENARS PER LITER OF MILK p.8 THE PRICE INCREASES TRADE EXCHANGE WITH ALBANIA!
p.4 SAME TARIFF AND INTERNET TV
p.12 MBI-10 FELL UNDER 5.000 POINTS VREME
p.13 FALL OF MBI-10 FOR 2,28 PERCENT p.4 TV VIA INTERNET
p.13 TURNOVER`S VALUE-34,3 MILLION DENARS p.8 THE PETROL PRICES AGAIN ROSE BY TWO DENARS
p.15 KOMERCIJALNA BANKA MADE A CONVERSION OF PRIORI- VEST
TY SHARES p.3 FUELS SURPASS 80 DENARS
p.15 TEHNOMETAL VARDAR OWNS 10.41% OF MAKOSPED p.9 THE TELEPHONE PRICE ROSE
p.16 OIL PRICE JUMPED 2 DOLLARS p.11 OIL PRICE GOES UP AFTER JEDDAH SUMMIT
p.16 THE PETROL MORE EXPENSIVE BY TWO, THE DIESEL BY 1, NOVA MAKEDONIJA
5 DENARS p.9 SUNFLOWER BACK IN GRADSKO
UTRINSKI VESNIK p.9 TELEKOM ABOLISHES THE 100 MINUTES FREE TALK
p.1 NEW RECORD PRICE OF PETROL- 80, 5 DENARS PER LIT- p.10 TELEKOM IN WAR WITH THE IT-COMPANIES
TER p.10 WITHOUT FOREIGN BANKS- CURSE OR BLESSING
p.8 DRASTIC INCREASE OF THE PRICE OF THE PETROL – ONE SPIC
LITER PER 80.5 DENARS p.2 THE OIL TO REACH 145 DOLLARS?
p.8 OIL IN THE WORLD HEATS AGAIN-THE SUMMIT WITHOUT A p.7 TELEKOM TO BROADCAST TV IN AUTUMN
SOLUTION p.7 PETROL COST 80 DENARS PER LITER
Date 30.06.2008 number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
berzNIK
7
25.06.2008 WEDNESDAY
1. SHORT REVIEW OF EVENTS
Durrës is currently one of the most serious but surely decreasing. They claim that unlike demand is continuously rising. The average
alternatives of the Thessalonica Harbor, but the before, now everybody is buying petrol for less global oil production of 84, 5 million barrels a
Macedonian businessmen who are already than 1,000 denars. Now they are even buying day, in the last years is being continuously
there are considering it as a future main trans- petrol for 300 or 500 denars, employee of the extended by the global demand increase. On
port option if the road infrastructure is improved. petrol station explains. the other hand, the drawn reserves of oil are
This was said at yesterday’s presentation in the Some citizens say that the growing prices of more concerning, according to the IEA data.
Economic Chamber of Macedonia and it is pub- the petrol motivate them to leave the vehicle in Saudi Arabia is expected to contribute much in
lished by all print media today. the garage, especially when they can arrive at the offer rise in the following years, despite the
- Durrës Harbor is close to Macedonia, but the desired destination by foot. “This is very last announcements for increased production by
it still needs good infrastructure – road and rail- unpleasant, especially because of the heat, but 0.5-0.7 million barrels a day, is even more con-
road connection. We expect the Macedonian as the prices are going up, driving an automo- servative, estimating that part of the reserves
and the Albanian Government to overcome this bile is a luxury,” some of the drivers say. should be preserved for the generations to
problem with joint efforts as soon as possible- Makpetrol announces information opposed come….
stated Stevica Carapic, President of Macedoni- to that on the field. According to the data of the Vreme published that, according to many
an International Freight Forwarding and Logis- company, in the first five months of the year, the people, Macedonian Telecom has done an un-
tics Operators Association. range of the sales of the oil derivates has been expected step and when new landline operators
General Director of Durrës Harbor, Eduard increased for 11%. It is unknown at the time why have finally shown on the market, On.net and
Endreu, emphasized that essential changes this information is opposed to the situation on Cosmofon, it decided to cancel the service 100
regarding better safety of goods, provision of the field, but one could guess that the increased free minutes, which was included in the sub-
favorable tariffs and professional working were sale of automobiles in the last period causes scription of the standard package. Representa-
made, which is one of the general assignments this trend. tives of the Macedonian Telecom say that they
because of which Albania was admitted to NA- Biznis published an analysis that the global are this way repositioning the product portfolio,
TO. Durrës is located in the central area of the economy is facing high oil prices. - Leave the oil i.e. they are cutting certain values from the stan-
Albanian coast, 160 kilometers away from the before it leaves you is the new motto of IEA dard package on the account of some benefits
Macedonian-Albanian border. It is three hours (International Energy Agency), which analyses in the new tariff models - Call Comfort, Call Free
away from Kafasan border crossing. The capac- and published data are more often in the focus and Favorite numbers.
ity of the harbor is 3.8 million tons per year. of the interest of the investment analysts around In today’s analyses for the Macedonian
Turnover of goods in the amount of three million the world. Global economy is facing exception- Stock Exchange you will read that the Stock
tons, 700,000 passengers, 12,000 automobiles, ally complex problem. We can not be indifferent Exchange is still falling. The indexes continue
and about 40,000 trucks was made last year. on the high oil price, which is maintained on a falling, therefore MBI-10 index yesterday drop-
Utrinski vesnik published that the expensive level of over 130 US dollars a barrel, bearing in ped below 5,000 index points and it registered a
petrol will make life more expensive. The con- mind the consequences of the last oil crises in milder fall than the previous day, i.e. it registered
clusion is based on the fast-growing prices of the 1970ies. There are number of reasons, but a fall of 2.18%. MBID index also registered a fall
the petrol and the decrease of the demand on two of them are crucial. First, by the growth of of 3.16%, while index of bonds OMB registered
the petrol stations. The employees of the petrol the global economy, especially the developing a minimal increase of 0.05%.
stations claim that the petrol demand is slowly countries led by China and India, the global oil

2. TOP NEWS - IMPORTANCE BY NUMBER OF PUBLICATIONS


1. DURESS SUBSTITUTE FOR THE THESSALONICA’S PORT (****)
2. THE EXPENSIVE GAS WILL MAKE THE LIVING MORE EXPENSIVE (***)

DNEVNIK VECER
p.7 DURRëS DOCKS OPEN FOR THE MACEDONIAN FIRMS p.6 FINES FOR THE OBSTRUCTERS
p.7 LONG PROCEDURES SLOW DOWN THE INVESTMENTS p.6 BUSINESSMEN WANT TO COOPERATE WITH THE GOVERN-
p.9 4200 FARMERS FROM STRUMICA CLAIMED SUBVENTIONS MENT
p.9 REK OSLOMEJ REPAIRED p.6 NEW SHAREHOLDER OF MAKOSPED
BIZNIS VREME
p.1 GLOBAL CRISIS OR SPECULATION SHOCKS p.6 WITH PACKAGES AND PRICE TO NEW USERS
p.3 DRAC-MOST SERIOUS ALTERNATIVE FOR THESSALONIKI p.6 THE AREAS WITH FRUIT PLANTATIONS ARE INCREASING
p.5 SPECULATORS ARE THE MAJOR BUYERS? p.7 THE SMALL BANKERS WITH TIED HANDS
p.12 AVALANCHE AT THE STOCK EXCHANGE! p.7 TRANSPORTERS TO BOYCOTT THE COMPANIES
p.12 INVESTING IN FUNDS-LONG-TERM WINNING INVESTMENT VEST
p.13 МBI 24.06.2008 p.7 DURESS SUBSTITUTE FOR THE THESSALONICA’S PORT
p.13 DECLINE OF MBI-10 AND MBID NOVA MAKEDONIJA
p.13 THE OFFICIAL MARKET COLLECTED THE ENTIRE TURN- p.8 THE RECESSION CONTINUES, FALL THE PRICES OF ALL
OVER MBI-10 SHARES
p.15 CONVERSION OF PREFERENCE STOCKS OF KOMERCIJAL- p.8 THE TELEKOM UNDER INVESTIGATION BY THE ANTI
NA BANKA MONOPOLY COMMISSION
p.16 ATM NCR PERSONAS 87 PUT INTO OPERATION p.8 THE OIL` FUTURE AND MACEDONIA
p.16 OIL PRICE CONTINUES ITS WAY UP p.9 THE BUSINESSMEN GAVE RECOMMENDATIONS FOR THE
UTRINSKI VESNIK ECONOMY TO THE GOVERNMENT
p.1 THE EXPENSIVE GAS WILL MAKE THE LIVING MORE p.9 HIGHWAY PRILEP-VELES TO BE BUILT THROUGH DERVEN
EXPENSIVE p.9 DURRES ALTERNATIVE FOR THESSALONICA PORT
p.6 GREATEST SUBVENTIONS FOR WHEAT PRODUCERS p.9 PENULTIMATE IN EUROPE ACCORDING TO GDP
p.7 DRAC- AN OPTION MORE FOR MACEDONIAN COM-PA¬NIES SPIC
p.7 МBI 23.06.2008 p.7 MACEDONIAN BUSINESSMEN TO DOCK IN DURRëS
p.8 SHARES ARE DECREASING- WHAT TO DO NOW THE STOCK p.7 PETROL BURNS UP PRICES
EXCHANGE PLAYERS?
8 berzNIK number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
Date 30.06.2008

CONVERSATION ON THE OCCASION...

DEJAN BISHLIEV – CEO OF MACEDONIAN-RUSSIAN CHAMBER OF COMMERCE:

RAILWAY TRACK – GATE TOWARDS EAST


AND WEST
Macedonia is the crossroad of Corridors 8 and 10, and due to increase commitments, we consider that Thessalonica
port will be unable to fulfill those commitments, i.e. it will become bottleneck and retard our development…Traffic barri-
ers are our major problems, and not only for transport of goods, but tourism development as well

F
inalization of the railway towards Bul- donia, as EU and NATO candidate-state, on
garia, as well as finalization of Corridors the beginning of the 21st century, must have
8 and 10 is priority included in the Me- Why Macedonia appears to be iso- basic infrastructure (road and rail), before all
morandum of the Business Community, lated island on the Balkans regard- due to its interests, nut also interests of its
which was recently sent to the future Govern- ing foreign investments in the past future fellow-citizens and partners. If this rail
ment of the Republic of Macedonia by man- track is built, which is part of Corridor 8, i.e.
agers of domestic and foreign companies. years? There are many reasons, rail axis east-west in length of 1270 km,
Necessity of investing and development of but we are assured that country`s passing Bari-Brindisi-Bar-Durres-Tirana-
crucial economic infrastructure directed tow- chances to become attractive busi- Skopje-Burgas-Varna, there will be interest
ards entire improvement of business climate for our country, but also Italy, Montenegro,
in Macedonia was only proposed by the Ma- ness destination will drastically Albania, Bulgaria and Turkey, and Ukraine
cedonian-Russian Chamber of Commerce. A increase in railway is constructed and Russia by connecting on Corridor 4. The
motive for reanimation of the public for the last two countries are important because
necessity of solving of this complex, but Macedonian major companies that take sig-
essential, issue was the occasion for discus- the absence of direct air line, but before all, nificant part in GDP depend on import of raw
sion with Dejan Bishliev – CEO of Mace- unfinished railway towards Bulgaria. In favor materials from these countries, Russia be-
donian-Russian Chamber of Commerce. of the necessity for its sooner finalization fore all. On the other hand, when you take a
goes the analysis of the Embassy of the look on Russian market through its regions, it
Which was the basic motive for the Russian Federation, according to which, this is easy to realize that it is a matter of the fast-
Chamber to claim priority on Corridors in the rail connection would increase trade of goods est emerging market where all major world
Memorandum of the Business Community? with Russia, Bulgaria and Ukraine by 33%, economies fight to participate, and Mace-
and transport costs would be reduced by donian economy should not be excluded
- Macedonian-Russian Chamber of Com- 35%. from this trend.
merce is, before all, committed to develop
economic relations between small and medi- State some other key reasons for the Providing of alternative and independ-
um enterprises in both countries. Chamber is necessity of development of the transport infra- ence in solutions of the business community
consisted of 150 companies, which cooper- structure in the country? regarding the transport point out on finding a
ate with Russia, some of them are the major way towards ports in Varna, Burgas and Vlo-
exporters and importers from this country. - Traffic barriers are our major problems, ra, is another important issue. Only one glan-
Last year we conducted survey among our and not only for transport of goods, but tou- ce at damages that our companies suffer
members in order of hearing problems that rism development as well. Today, there is no from strikes on Thessalonica port will explain
they face in cooperating with their Russian country in Europe with unsolved road and rail that alternative is more than necessary. But,
partners. Results show that more than 70% connections with its neighbors. Macedonia is even if not so, Macedonian development,
of companies pointed out on the absence of not one of them. According to the current sit- which claims to become favorable destinati-
transport network as one of the major rea- uation, almost all important corridors in on in near future, will face this problem. We
sons for the poor cooperation. Not only for Southeast Europe bypass our country. Mace- are all expecting that Macedonian NATO and

MACEDONIAN CHAMBER OF COMMERCE ESTABLISHES CONSTRUCTION ASSOCIATION

STANDARDS AND PRINCIPLES


AGAINST UNFAIR
COMPETITION

I
n the frames of Industry sociation.
Chamber in the Chamber of
Commerce of the Republic The motive for establishment of this
of Macedonia (SSK), last week association is adjustment of interests of
was founded Constriction As- Macedonian constructors regarding current
Date 30.06.2008 number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
berzNIK
9
years? There are many reasons, returned and the railway stays.
but we are assured that coun-
try`s chances to become attrac- Regarding the fact that all recent attempts
tive business destination will and announcements for construction of the rail-
drastically increase in railway is way towards Bulgaria and Albania remained
constructed. When one certain unrealized, mostly due to financial reasons,
comes to buy land to build facto- which options you consider for its finalization?
ry, he is interested if there is
road, water, electricity and - Considered sum reaches 325 million
fence… If there is infrastructure, euros for the entire project, or 150 million
he is going to invest his money, if from Kicevo to Kafasan and 200 million
not, he is leaving, because capi- towards Bulgaria. We tabled three concrete
tal stands no improvisations. proposals. One is forming of experts team,
This is illustrated by Romania from concerned countries, Macedonia,
which lost 800 million euros Albania and Bulgaria before all, which are
investments from Mercedes due already NATO members, which would also
to lack of good infrastructure – include NATO and EU experts, because we
road and railways. This implies are clear that we are not going to receive
that if our country intends to money from their funds, if they are not includ-
attract foreign investors, there ed.
must be this infrastructure.
The second proposal is renting under
Second, the rail across Ma- concession to concerned parts. Our proposal
cedonia, as part of Corridor 8, is offering opportunity for participation in the
i.e. railway connection with Al- constriction to big companies which in this
bania and Bulgaria means 4-5 moment have interest of the existence of this
times shorter time for goods to rail track, and turn their looses into invest-
travel from Bari or Brindisi to Ca- ments.
ucasus or Krasnodar, which is
important for all investors from Besides Macedonia, it should be anno-
the aspect of obtaining much unced in all concerned countries: Italy, Al-
cheaper transport of goods. bania, Macedonia, Bulgaria, Ukraine, and
EU accession will cause economic boom, in- Turkey… Public private partnership is also
creased investments and movement of peo- We can say that predominant opinion in one of possible models. We salute memoran-
ple, goods and services and economic po- Macedonia is that the railway towards Bulgaria dum between Macedonia and Bulgaria for
tential on higher level. would be unprofitable. What is your opinion? constriction of the railway, which is delivered
to European Union, hoping that the Union will
Macedonia is the crossroad of Corridors - It is really strange to say that the railway support the construction which will soon be
8 and 10, and due to increase commitments, would be unprofitable when it opens two finished on its territory. It should be now
we consider that Thessalonica port will be gates – towards east and west. Some say forced and lobbied in order of its finalization.
unable to fulfill those commitments, i.e. it will that the period of profitability would be 90 That would be good step. I will mention the
become bottleneck and retard our develop- years, which is impolite to say. I would say interest recently stated by one Estonian rail-
ment. that if it is profitable even after 20 years, we way company for obtaining concession over
should be happy, because time passes fast, our railways. This implies that others also
According to the proposal of Macedonian- so we would inherit railway that will be used have necessity of this track, and not only Ma-
Russian Chamber of Commerce, railway connec- much longer. It was not finished for 60 years cedonia. I consider that, from economic
tion will influence the attraction of foreign and our state became blind gut. If it was aspect, we should turn where western coun-
investors..? started 20-30 year sago, now we would have tries look their interests, and they are looking
used its benefits. Therefore, having on mind towards east – Russia, India and China. This
- This is also one of the key reasons for looses that are now suffered, future economy is our future and we should stand in line tow-
our proposal. We are asking why Macedonia growth and offered opportunities, this project ards those countries.
appears to be isolated island on the Balkans is worth finishing. It will be our commitment V.M.
regarding foreign investments in the past for next generations, because money will be

issues, which marked their position on engagements of banks, unequal positions in bring important contribution by creating of
domestic and foreign markets. public biddings, employments in the country better working conditions, better competitive-
and abroad, will be presented before the ness and more efficient operations, said
- Association will canalize problems in Government, competent ministries and inter- Sead Kocan, Association President.
construction industry and affect surpassing national subjects.
of damages caused by one-man-company, in Construction Association will advocate
order of introducing of standards and princi- -The idea for establishment of such asso- interests of construction companies mem-
ples of operating in the construction. Reve- ciation is a result of burdened functioning of bers of the Chamber of Commerce and take
aling of problems in this Association means construction companies in our country. The part in preparation of the Law on Construc-
opportunity for giving additional impulse in basic goal is involving in creation of stan- tion Companies.
operations of companies in construction dards and conditions for working in the field
industry, Dimitar Bogdanovski, President of of construction, as well as improvement of One of the basic tasks of the Construc-
Industry Chamber of Macedonia, said. business climate. tion Association will be including of the mem-
bership in procedures for passing of laws
Problems such as solvency, unfair com- I am assured that by joining of construc- and bylaws which favor the activity the mem-
petition, deficient investment activities and tion companies in this association we can bers of this association perform.
10 berzNIK number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
Date 30.06.2008

PROMOTION OF THE MEMORANDUM OF THE MACEDONIAN BUSINESS COMMUNITY

MAIN AIM - INCREASE OF THE ECONOMIC


GROWTH AND EMPLOYMENT
The representatives of the business community in Macedonia state that only by cooperation with the Government of the
Republic of Macedonia can be provided a better life for the citizens, to achieve economic progress and welfare and integra-
tion of Macedonia in the European Union

U
nder the slogan - What needs the With the goal to achieve higher emplo-  Strengthen the financial market
economy for a better future, the Eu- yment and additional economic growth in by increasing transparency and enforcing
ropean Business Association the country, to develop the competitive- severe sanctions for management teams
(EBA), last week in Skopje promoted the ness of Macedonian companies and to fos- that practice poor corporate governance;
Memorandum of the Macedonian Business ter the EU integration process, we propose
Community, where they claim a more in- that the newly elected Government of the  Rationalize and modernize the
tensive cooperation with the Government, Republic of Macedonia prioritize the fol- labour code to, among other things, simpli-
but also suggests solutions for further eco- lowing actions: fy the employment of foreigners;
nomic growth. As Gunter Offner pointed
out, the president of the European Busi-  Enable consistent and open co-  Improve the protection of intellec-
ness Association, and a main initiator of mmunication between the Government tual property rights by proactive enforce-
gathering the business sector, the good and the business community; ment and streamlining legal proceedings;
cooperation between the Government and
the business sector is an important pillar to  Establish firm procedures to jo-  Reduce regulatory and bureau-
increase the economic growth and impro- intly consult the business community dur- cratic obstacles that impede legitimate
vement of citizens` welfare. I hope that the ing the legislative process when it influen- business activity;
Memorandum will be the first step toward ces the business sector;
continuous supplementation of the dialo-  Improvement of the license pro-
gue with the political institutions, as well as  Establish an Independent Evalu- cedures and implementation of the EU
further mutual cooperation of the business ation Committee consisting of three promi- standards in the constructing sector;
sector toward further development of the nent representatives of the economic sci-
country. The recommendations and the entists to evaluate the economic progress  Improve government tender and
proposals in the document are an offer for on quarterly basis privatization procedures to make it more
the Government to use the experience of efficient and transparent;
the home and the international companies.  Determine a reporting and evalu-
The Memorandum which showed that the ation procedure for governmental bodies and Facilitate trade across borders to
business community in the country is ca- during the execution of projects and imple- make importing and exporting faster and
pable to provide a common voice, was sig- mentation of laws; cheaper.
ned by the European Business Associati-
on, the American Chamber in the Republic  Ensure the consistency of laws Having in mind the principles, priorities
of Macedonia, the Macedonian-German and their implementation, including admin- and conditions in the Accession
economic association, the Macedonian- istrative and legal procedures; Partnership between the European Union
Russian economic chamber, the Economic and the Republic of Macedonia, especially
Chamber of Macedonia, the Economic  Develop the capacities of the in the part of fulfilling the short-term eco-
chamber of north-west Macedonia, the professional public administration and nomic priorities and criteria:
Slovenian-Macedonian business club, the enhance “one stop shopping” for permits,
Association of foreign investors and the licenses, approbation etc., wherever it is  Proceeding with the registration
British business group, which unite up to appropriate; of land and real estate and strengthen the
90 per cent of the companies operating in cadastre in order to enhance legal certain-
the country. In the name of the Govern-  Accelerate privatization process ty for economic operators and improve the
ment, the minister of economy (in resigna- and promote the spirit of entrepreneurship, functioning of market economy mecha-
tion), Vera Rafajlovska received the Me- especially through special support for the nisms and
morandum. new star-up business;
 Improving the efficiency of public
Memorandum  Use more efficiently the subsi- services, notably by providing additional
of the Macedonian Business dies and programs offered by the EU and funds for training and for upgrading the
Community other international organizations; current infrastructure, we would like to fos-
We, the representatives of the busi- ter the implementation of the required pri-
ness community in the Republic of  Invest and develop the crucial orities in the Accession partnership chap-
Macedonia, are issuing this Memorandum economic infrastructure, especially finali- ters that are related to the economy and
in the interest of the economic wealth and zation of the railway between Macedonia economical development.
prosperity of the citizens of the Republic of and Bulgaria and Corridor 8 and Corridor
Macedonia. 10;  Furthermore and having regard
Date 30.06.2008 number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
berzNIK
11
to the benchmarks required by the
European Commission, we would like to OHRIDSKA BANKA SOCIETE GENERALE GROUP
stress the importance of immediate fully
implementing:
THE NET GAIN OF 93 MILLIONS
 Judiciary reforms and strength-
ening the independence and overall
capacity of the judicial system;
OF DENARS – TO BE KEPT

O
 A track record on implementation n the 24th of June, 2008 the Annual assembly of the shareholders of Ohridska
of anti-corruption legislation; banka, Societe Generale Group has been held. All of the decisions submitted to
the Supervising Board of the bank have been adopted. The shareholders have
confirmed the results of the bank for 2007, they adopted the financial reports for 2007
 Reduction of the impediments to and the decision for allocating the gain. In 2007, the bank has realized net gain of 93
employment creation, in particular those millions of denars, which remains as held unallocated gain and it will not be eligible for
regarding youth and long term unemploy- repayment of the dividend.
ment;
In 2007, Ohridska banka has realized:
 Enhancing the general business  The balance amount of 11 500 millions MKD (187 millions EUR) or an incre-
environment by further improving the rule ase of the potential of 39.4%
of law, strengthening the independence of  Increase of the deposits for 52.5%
regulatory and supervisory agencies,  ncrease of the credit placements of 45%
speeding up legal procedures and contin-  Capital adequacy remaining on high level of 24.3%
uing the registration of property rights,
On the shareholding assembly, David Formanek was elected for new member of
specifically: the Supervising Board and of the Board of revision of the bank from the order of the
shareholders on the place of the recent member, Philip Guidez. Mr Formanek has start-
 Introduce and apply a framework ed his career in Bayer AG. Since 1993, he has been working in Deutsche bank AG in
for systematic regulatory impact assess- Prague as a director of the Corporative Banking Group. In pursuit of new and profes-
ment; sional challenges he joins Komercni banka, a.s. Societe Generale Group in 2001 as a
deputy director and director of the business sector in Prague. In 2006, he is named as
deputy director of Human resources, and from January 2007, he is elected as deputy
 Simplify and shorten the proce- director of Human resources of Komercni banka SGG.
dures for closing a company;
The annual assembly of shareholders has confirmed that Ohridska banka in the
 Simplify and accelerate customs frames of Societe Generale Group has marked significant changes in its development.
procedures, in particular for small and me- The strategy for fast development of Ohridska banka with accent of the importance of
the expansion of the network to branches had been adopted on the Assembly. At the
dium-sized enterprises engaged in in- end of May, 2008, Ohridska banka has increased the network from 13 to 19 branches,
ward-processing and reduce the duration and the number of employees from 183 to 275, compared to May, 2007.
of customs clearance procedures in gene-
ral;
Societe Generale
 Upgrade the administrative ca-
Societe generale is one of the biggest groups for financial services in the euro zone.
pacity of the regulatory and supervisory The Group numbers 151 000 employees worldwide in three key business segments:
bodies;
Retail banking and financial services: Societe Generale offers services to 30 mil-
 Provide for increased trans- lions of individual clients worldwide.
parency in the activities of the regulatory
and supervisory bodies and ensure that Global Investment Management and Services: Societe Generale is one of the
biggest banks in the euro zone according to the means under trusteeship (EUR 2 731
appointments to these bodies are not billions, March, 2008) and manageable means (EUR 391 billions, March, 2008).
based on political affiliation;
Corporative and Investment banking: Societe Generale is ranked among the lead-
 Accelerate registration of proper- ing banks in the world of the euro markets of capital, derivates and structural finances.
ty in the real estate cadastre; Societe Generale is included in the five key investment indexes for societal responsibil-
ity.
 Develop an electronic cadastre;

 Complete the regulatory guillo-


tine.

We are confident that only via cooper-


ation between the Government of the RM
and the business community we can pro-
vide a better life for our citizens, achieve
economic growth and wealth and make
the RM a proud member of the EU.
12 berzNIK number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
Date 30.06.2008

ALBANIAN HARBOR, ALTERNATIVE FOR MACEDONIAN TRANSPORT COMPANIES

DRAC SERIOUS SUBSTITUTE FOR ters lengthwise, stated Aco Spasovski, di-
rector of the Directorate for business and
THESSALONIKI common services in Macedonian Chamber
of Commerce.
Benefit from the speeded processes of the infrastructural and institutional connection The president of the Union of trade-in-
between the countries from the region will have not only national economies but the state dustrial chambers of Albania, Ilir Zila, empha-
as well. sized the organization of the Chamber, which
trough the Department for businessmen pro-
The harbor in Drac, Albania can become way infrastructure passing through our coun- tection offer better security for their goods. In
the most serious alternative for ship transport try needs to be developed. Plans are made case of problems, such as with the harbor
of Macedonian goods due to prices, quality to improve the road infrastructure, to recon- and the customs bodies, both chambers will
of the services and especially with the in- struct the existing road network, through pressure Governments of both countries to
creased security of the goods which enter opening new roads and further develop the solve the problems.
and leave the harbor. Drac slowly becomes a railway segment in the part of Kafasan to - It is very important the competent bod-
solid competition of the harbor in Thessa- Kicevo of around 66 kilometers lengthwise ies and institutions to speed up the already
loniki,- this is the general conclusion on the (valued of around 230 million American dol- started infrastructural processes and the
meeting between the Albanian representa- lars) and Kumanovo – Deve Bair 85 kilome- institutionalized connection between the
tives and Macedonian businessmen organi- countries from the region, from which benefit
zed by the Macedonian Chamber of Com- will have not only the national economies but
merce. But, still the only problem of Mace- the state as well – emphasized Stevica Ca-
donian companies, as in the case with bar, is rapik, president of the International Forwar-
the bad infrastructure, i.e. the fact that Mace- ders and Logistic operation Association at
donia and Albania are not connected with Macedonian Chamber of Commerce. The im-
railway and the road are in good condition. proved infrastructure, tariffs and the way of
The harbor in Drac is an advantage for work and the security are the benefits that
Macedonian businessmen… But, for greater the harbor offers – he stated.
utilization of this harbor the road and the rail-

Second closest harbor


The Harbor in Drac is located in the central part of the Albanian coast, 33 kilometers from the capital of Albania, Tirana, i.e. 160 kilo-
meters to Macedonian Albanian border with road and railway connection. On the Albanian coast, of around 200 sea miles lengthwise there
are five harbors, two of which are the largest – Drac and Valona. According to the distance from the distributive centers in the Republic of
Macedonia (only three hours drive to Kafasan), this is the second closest harbor beside the harbor in Thessaloniki, due to which the analy-
sis for its use deserves special attention. The geographic location makes it exclusively strategic important harbor which directly connects
three seas – the Ionian Sea, Adriatic Sea and is indirectly connected with all Mediterranean countries.
- Harbor`s capacity is around 3.8 million tons of good annually and during one calendar year, there is a flow of around three million
tons of goods, 770.000 passengers, 233.000 cars and around 40.000 trucks. The harbor has three lines with Italy (Trst, Ankona, and Bari)
and a new line to Brindizi will be opened soon. New passenger terminal has been opened recently, in a value of 15.2 million euros. Drac is
a final city at the west part of the Corridor 8. Therefore the businessmen emphasized that the road and the railway infrastructure has to be
further developed and urged the authorities to speed up the process. Projects of around 50 million euros are in a phase of realization –
emphasized the director of the harbor Eduard Ndrey.

PIOM ON PERIOD JANUARY-MAY 2008


- Managing Board of the Pension and
Disability Insurance Fund of the Republic of
INCOME INCREASE BY 8.4%, AND
Macedonia (PIOM), on the session held on
24th of June considered and adopted the In-
EXPENDITURES BY 4.3%
formation for Financial Condition of PIOM in
period January-May 2008 and evaluating by According to PIOM officials, another pensions with higher percentage compared to
the end of the year. remarkable record is that starting January the the one determined in the Law on Pension
1st, there was implementation of flat tax, and Disability Insurance, PIOM announce-
- In this period, as already released in the which affects in reduction of gross-basis by ment reads.
announcement of PIOM, realized incomes in- 2%, and the amount of contributions as well. Managing Board on the session passed a
creased by 8.4%, compared to projected in Announcement also reads that total ex- decision for amending of the budget of PIOM
Fund`s budget, while compared to achieved penditures of the Fund in this period increased which includes the estimation which calcu-
incomes in 2007 they are higher by 17.1%, by 4.3% compared to projected in Fund`s bud- lates incomes and expenditures of the Fund in
which is a result of employees` salary incre- get, i.e. 14.4% higher compared to realized 2008.
ase, increase of the number of employees for expenditures in 2007. This increase is a result - If projected incomes and expenditures
which contributions are paid, new processes of amending of legal regulations in the part of envisaged by the amendments of Fund`s
in collection of contributions, as well as many adjustment of pensions, according to which, budget for 2008 realize by the end of the year,
conducted measures and activities of the current adjustment of pensions corresponds all obligations of the Fund towards beneficiar-
Fund for more complete collection of contribu- with 50% of workers` salaries increase ies of pension and disability insurance will be
tions. (instead of recent 20%) and 50% of the in- finished, i.e. there will be regular payment of
- In this period, salary contribution crease of life expenses (instead of recent pensions and other rights and obligations that
incomes amount 10.5% more than projected 40%). emanate from pension and disability insuran-
in Fund`s budget, and compared to the same - Beside this measure, starting January ce in accordance to the legislation and envis-
period 2007 incomes are higher by 19.8%, an- the 1st, the Government of the Republic of aged terms, is said in the announcement re-
nouncement reads. Macedonia passed a decision for increase of leased by PIOM.
Date 30.06.2008 number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
berzNIK
13
26.06.2008 THURSDAY
1. SHORT REVIEW OF EVENTS
Top news in all today’s media is the govern- which is caused by global crisis, but yet, it shows Ohridska banka on the positive financial results of
ment actions to soften the oil shock after the deceleration of state`s growth…Which on the last year’s financial operation. Ohridska banka,
announced record increase of fuels and oil prices. other hand means that some sectors in economy member of the Societe Generale group, on the
Among the eight action the Government will take, have failed this past period…They generally last shareholders meeting had established real-
the priority goes to the subsidies for oil for the agree that the growth of 5.2% is good for our ized net-profit of 93 million denars or almost 1.5
farmers and the lower tolls for the citizens. Taking economy, taking into consideration the move- million Euros for 2007. The bank announced that
into consideration the growing oil price, the ments in this filed at the end of the first quartile of they will keep this profit, they will not allocate it as
Government will give farmers state aid to cover 2006, when the growth was 2%. dividend. Last year the bank made balanced sum
their expenses for buying oil for the fall sowing. Among the most published news in the print of 187 million Euros or an increase of the poten-
According to vice-prime minister Zoran Stavreski, media of today, comes the selling of the smeltery tial for 39.4 percent.
the Government accepted this request from the in Veles. The media report that the new owner of Biznis with an analysis: Since the MBI-10 hit
farmers as legitimate argument. All farmers who this capacity is the production and trade company the bottom- investors wake up. And even in these
have applied for subsidies will receive financial Metrudhem from Skopje that bought the smeltery difficult days on the Macedonian stock exchange,
aid, and their number so far is 71,000- Stavreski for 2.25 million Euros. someone can make extremely lot of money if they
said. The monthly subsidies for the farmers will be The Trustees’ Assembly, after the announced know the right people at the right time. Yesterday,
determined on the grounds of the amount of oil tender, accepted the offer of this company for buy- at the end of the trading, it seems like MBI-10 hit
required for one month and for one hectare of ing the Smeltery in Veles and the fertilizers facto- the bottom of 4,686.31 points. By the end of the
plowland. This is one of the eight actions the ry in Zgropalci. There were three offers on the ten- trading it got better, leaving a hope that it may not
Government adopted to soften the consequences der, one of which was withdrawn, and in game go on with the decreases which have been lasting
from the oil and oil derivates increase. stayed the offer of the company from Skopje, for the past 17 trading days…One interesting
In today’s Utrinski Vesnik you can read that Metrudhem and the one of the Turkish company block transaction marked yesterday’s trading day.
the first quartile of this year the GDP has Jalim. Trustees rejected the offer of the Turkish Sold were 1.542 shares of the Export-Credit Bank
increased for 5.2%. Experts think that in time of company because it did not pay the bank guaran- by price of 12.000 denars per share. Despite that
expensive oil and financial crises, this growth is tee of one million Euros on time and the same the Holland Demir Halk Bank announced to
enough, and regardless to this, people well famil- was 100 Euros less than the sum required with takeover this bank, nearly 3.7% from EC bank
iar with this problem open the question - Is the tender. Because of disagreements among were traded yesterday by ridiculously low price of
Macedonian economy loosing breath? Such some of the trustees, among which municipality of 300.000 Euros. The total turnover in the regular
impression give last statistical economy indica- Veles as well, the Trustees Committee passed a trading was 35,7 million denars. MBI-10 dropped
tors, which illustrate that in the First Quartile gross decision by which it gives the trustees three days for another -1,96% ending at 4,697.72 points.
domestic product amounted 5.2% which is lower to state their opinion whether they will sell MHK MBID reduced for -1.17% and the index of the
compared to the same period last year when Zletovo to Metrudhem or will announce another bonds also reduced for -0.17%.
reached 7%. According to experts, it is a matter of tender.
slight reduction compared to last year growth, Some of today’s papers publish the report of

2. TOP NEWS - IMPORTANCE BY NUMBER OF PUBLICATIONS


1. GOVERNMENT FINALLY WITH MEASURES AGAINST OIL SHOCK (*****)
2. METRUDHEM FROM SKOPJE – NEW BOSS OF MHK ZLETOVO (****)
DNEVNIK p.7 GRANTS FOR FARMERS, LOWER TOLLS FOR CI¬TI-ZENS
p.1 EIGHT MEASURES AGAINST THE OIL SHOCK p.7 IT CAN NOT BE PAID RETROACTIVELY
p.11 BANKERS TO DELIVER PENSIONS INSTEAD OF POSTMEN? p.7 SUMMER PACKAGE OF MICRO BUSINESS CREDITS
p.11 THE TOLLS WILL CHEAPEN VREME
p.11 M SAN BECOMES AUTHORIZED DISTRIBUTOR OF SUN p.6 HEATING PRICE DROPPED ON CONSTITUTIONAL COURT
MICROSYSTEMS p.6 GRUEVSKI WANTS TO KNOCK THE EXPENSIVE OIL OUT
p.11 GDP INCREASES BY 5.2 PERCENTS p.6 METRUDHEM BECAME OWNER OF THE SMELTER
p.11 TOPLIFIKACIJA TO RETURN MONEY TO CITIZENS VEST
BIZNIS p.2 NO ELECTRICITY FOR DEBTS AGAIN IN LIPKOVO
p.1 THE INVESTORS AWOKE p.5 CHEAPER TOLLS
p.12 OIL FOLLOWS THE PATH OF DOTCOM INDUSTRY? p.5 CONSTITUTIONAL COURT DECIDES
p.13 MBI-10 DROPS FOR 1.96 PERCENT p.7 VELES SMELTER SOLD TO METRUDHEM OF SKOPJE
p.13 CONTINUES THE FALL OF THE SHARES AND THE INDEXES p.7 MAKOIL AND LUKOIL BLAMED EACH OTHER FOR A PARCEL
p.15 SHARES` DROP OF THE MOTOR INDUSTRY AND AVIATION OF LAND
p.15 OHRIDSKA BANKA WITH POSITIVE FINANCIAL RESULTS NOVA MAKEDONIJA
p.15 BLOCK TRANSACTION OF IK BANKA p.8 METRUDHEM IS THE NEW OWNER OF MHK ZLETOVO
p.15 SHARE BUY-BACK p.8 MBI-10 FELL BY 100 POINTS FOR THE FIRST TIME IN THREE
p.15 NON-TRADE TRANSFERS DAYS
p.16 MICRO-BUSINESS LOANS WITH THE LOWEST INTERESTS p.8 DIRECTORS OF THE ENERGY COMPANIES IN THE COUN-
UTRINSKI VESNIK TRY WERE LEFT WITHOUT POWER
p.1 THE SMELTERY FROM VELES – SOLD p.8 THE FUTURE OF OIL AND MACEDONIA
p.1 GDP GROWTH OF 5.2% IN Q1 p.10 FILED 71,000 REQUESTS FOR AGRICULTURAL SUBSIDIES
p.8 GOVERNMENT FINALLY WITH MEASURES AGAINST OIL p.10 ANNULLED THE DECISION FOR THE CENTRAL HEATING
SHOCK PRICE
p.8 EVN MASSIVELY DISCONNECTS POWER p.10 EIGHT MEASURES FOR ALLEVIATION OF THE PRICE
p.8 OHRIDSKA BANKA LAST YEAR’S PROFIT AMOUNTS 1, 5 MIL- SHOCK
LION EURO p.10 INCREASED INDUSTRIAL PRODUCTION
p.8 МBI 25.06.2008 SPIC
VECER p.1 VELES SMELTERY SOLD
p.1 IT CAN NOT BE PAID RETROACTIVELY p.9 GOVERNMENT CHILLS HIGH FUEL PRICES
с.1 TO SETTLE DOWN YOU NEED A DWELLING! p.9 EVN DISCONNECTS POWER AGAIN
p.6 EVN BEGINS TO SWITCH OFF EVERYTHING UNDER THE p.9 CENTRAL HEATING INCREASED PRICE AGAINST THE CON-
SUN STITUTION
p.6 93 MILLION DENARS PROFIT p.9 GDP INCREASED BY 5.2 PERCENTS IN THE FIRST
p.6 METRUDHEM FROM SKOPJE – NEW BOSS OF MHK ZLETOVO TRIMESTER
14 berzNIK number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
Date 30.06.2008

27.06.2008 FRIDAY
1. SHORT REVIEW OF EVENTS

The transporters and the farmers are most that there are oil sources in Saudi Arabia which ge is almost the same, without any significantly
dissatisfied by the Government`s measures to ab- still have not been used. drastic exits, but still, that happens. The statistical
sorb the oil shock, comment the affected entities - Austrians are interested to build factory for data on the Stock Exchange indicate that the par-
in today`s daily media… Practically, after underta- bio-fuels in Novaci, inform today`s newspapers. ticipation of the foreign investors is reduced by 0,
king the eight measures that the Government pre- Austrian firm from Vienna, through mediators from 50 %. The change at the bonds is similar. The
pared to absorb the consequences of the high oil Slovenia, expressed interest to construct a facto- Stock Exchange analysts locate the reason for the
price there will be no VAT reduction, which is 18 ry for bio-fuels in the municipality Novaci, Pelago- tendency of the foreign investors, leaving the Ma-
per cent, as well as the excise duties, but it is nia area. That is for the information that there is cedonian capital market, in the open political issu-
about the reduction of the costs for farmers` me- much organic waste which will be used for bio- es that the country is facing, like the name dispute
chanization, the transporters and the users of the fuels production. According to the plans, the fac- with Greece, NATO, the European Union and the
motor vehicles. The petrol will be paid as much as tory will be located on a private land between the instability in the region, mostly Kosovo.
it costs, but there will be reduction of other costs. villages Novaci and Dobromirci. Dnevnik informs about the position of Serbian
The vice Prime Minister Zoran Stavreski, on yes- - The dilemma whether we have a surplus or experts, according which, merging of the stock ex-
terday`s informing on measures, explained that deficit in the state central budget came after the changes in the region, which have a capitalization
there were no examples of VAT and excise duty State Statistical Office initially announced that the of 100 billion euro together, is necessary. Accord-
reduction in the world. “I would like to say that op- there is a budget deficit, and after a few hours- ing to them, the minimal daily profit that attracts
posite of that, the recommendations of the EU are that there is a surplus. Namely, in yesterday`s an- foreign investors on the stock exchange is five mi-
that the VAT and the excise duty should remain as nouncement of the State Statistical Office on the llion euro. The daily profit on the Macedonian
they are, because a bad signal is sent to the oil economic indicators of the first quartile of this year Stock Exchange is about one million euro for lon-
producing countries to continue causing specula- was announced that the budget registered a defi- ger period of time. Just to compare it, the Stock
tive increase of prices, stated Stavreski. But, ac- cit of almost 4, 2 billion denars, because of the Exchange of Istanbul has a market capitalization
cording to sources of Bruxelles, EU has no official higher expenditures than incomes. A few hours af- of 126 billion euro, and in Warsaw - 231 billion.25
recommendation for costs reduction. The only co- ter announcing the news in the media, the minis- foreign shares of EU companies, companies from
untry that makes such pressure is France, i.e. the ter of finance reacted, so that the State Statistical Ukraine, Israel, USA, Belarus and Turkey are qu-
president Nicola Sarkozi, who prepared and filed Office made correction and the deficit in the budg- oted on this stock exchange. – The future of the
concrete proposal-measures to the European Co- et became surplus; in detail in Utrinski vesnik… stock exchanges in the region is in enriching the
mmission. I Biznis the stock Exchange analysis - The offer and issue of state and corporate bonds -
Opposed to the oil shock which shakes the month of misery on the Macedonian Stock Ex- says Gordana Dostanikj, director of the Belgrade
world economy, Nansen Saleri, the oil expert of change ends with a fall of the MBI-10 index by Stock Exchange.
Saudi Arabia, says that for five to seven years the- over 25 %, i.e. continuous every day fall of prices, In today`s newspapers you can read as well
re will be stabilization of the oil price. According to 20 days in a row. The hope that the fall of share that the citizens of Veles are announcing rebellion
his estimate, reported by Biznis, at the moment, values of the Macedonian companies might stop, for the activation of the smelter. They fear that the
the oil industry operates on the verge of capacity. was destroyed by the sellers. Their impatience black clouds will cover the town. This was even
In the eighties, the capacities were ten million bar- and anxiety someone can use well, by purchasing more provoked by the new owner Metrudhem is
rels a day, and today is extracted only1, 5 to 2 mil- companies, that according to the finance indica- associated with Mineko, which clearly stated that
lion barrels in the world. Saudi Arabia owns free tors are a real bargain. will put the smelter into operation. The Green co-
capacities, stated Saleri for the German newspa- By the way, the tendency of foreign investors alition and the Association for salvation of Veles
per Wirtschaftwoche. The oil expert, who is in exiting the Macedonian companies continues. If from the smelter are preparing a strategy to de-
charge of the oil reserves in the Saudi state con- we look at things backward, starting from October fend Veles from pollution if the owners decide to
cern since autumn 2007, Saudi Armako, states on, the foreign participation on the Stock Exchan- turn on the furnaces...
2. TOP NEWS - IMPORTANCE BY NUMBER OF PUBLICATIONS
1. THE TRANSPORTERS AND THE AGRICULTURAL WORKERS DISSATISFIED FROM THE MEASUREMENTS FOR THE OIL (****)
2. TOPLIFIKACIJA TO COMPENSATE THE CITIZENS (***)
DNEVNIK THE SMELTERY
p.7 TOPLIFIKACIJA RAISES MAY BILLS ILLEGALLY p.6 AUSTRIANS INTERESTED IN BUILDING BIO FUEL FACTORY
p.7 INCORPORATION IS THE FUTURE OF THE STOCK EXCHAN- IN NOVACI
GES IN THE REGION p.7 STOPANSKA BANKA HAS NEW FAVORABLE CREDITS FOR
p.7 TIKVES AWARDED BUSINESS-PARTNER OF THE YEARS SMALL BUSINESSES
p.9 THE HYBRID VEHICLES WILL CHEAPEN p.7 THE DEFICIT WAS SURPLUS, SLAVEVSKI ANNOUNCES SAN-
p.9 IFC HELPS IMPLEMENTATION OF INTERNATIONAL STAN- CTIONS
DARDS p.7 МBI 26.06.2008
p.9 AUSTRIANS TO PRODUCE BIOFUELS IN NOVACI VECER
BIZNIS p.1 TOPLIFIKACIJA ANNOUNCES NEW INCREASE, AND YET IT
p.1 THE OPENED POLITICAL ISSUES DRIVE OUT THE FOREIGN- IS IN DEBTS WITH THE CITIZENS
ERS FROM THE STOCK EXCHANGE p.6 CUT OFF OF NON-PAYERS
p.1 THERE IS ENOUGH OIL FOR THE NEXT 100 TO 150 YEARS p.6 AUSTRIANS TO CONSTRUCT BIO FUEL FACTORY
p.2 SUBMITTED 71,000 APPLICATIONS FOR FARMING SUBVEN- p.6 GOOD HARVEST AND HIGH YIELDS
TIONS VREME
p.5 THE DAMAGES ARE MADE – THE ALLEVIATION IS MINIMAL p.1 TELEKOM GAINS 2 BILLION EUROS
p.12 SALESMEN RUTHLESS IN THE TRADE p.5 ACTUAL OPERATION OR JUST A MAKE UP
p.13 МBI 26.06.2008 VEST
p.13 DROP OF MBI-10 AND MBID p.3 HEATING TO INCREASE
p.13 MBI-10 AT RECORD 4,598 POINTS NOVA MAKEDONIJA
p.15 SHARE BUY-BACKS с.1 DRIVERS RECEIVED ONE-TIME ASSISTANCE FOR THE
p.15 NON-TRADE TRANSFERS OF LISTED COMPANIES` SHARES EXPENSIVE OIL
p.16 OIL DOWN BY 2.45 DOLLARS p.8 WHY NOBODY PURCHASES ON THESE PRICES?
UTRINSKI VESNIK p.8 EVN SHUTS THE POWER DOWN IN FOUR VILLAGES IN
p.1 THE TRANSPORTERS AND THE AGRICULTURAL WORKERS SKOPJE
DISSATISFIED FROM THE MEASUREMENTS FOR THE OIL p.8 THE FUTURE OF THE OIL AND MACEDONIA (3)
p.1 THE PEOPLE FROM VELES ARE ANNOUNCING RIOT FOR p.9 IFC INTRODUCED ISO 2001 STANDARD IN HIGH TECH
Date 30.06.2008 number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
berzNIK
15
28.06.2008 SATURDAY
1. SHORT REVIEW OF EVENTS
The record oil price of 142, 26 dollars per bar- apartments. The Energy regulatory Commission istered i.e. together with the paid tobacco produc-
rel, realized yesterday on the London Stock informs that bills calculation for the apartments ers, whose number is 26.000, and it is excepted
Exchange, is top news in all Saturday`s edition of per calorimeter and the payments for the discon- this number to increase to 75.000 agriculturists by
daily newspapers. Previous record prices of the nected heating are not legal. the end of the month.
black gold were realized the day before, when the Food prices have downward trend which is Movements on the Stock Exchange on the
North Sea brent was 140.56 dollars per barrel and expected to continue, regarding that agricultural last trading day this week indicated slight revival
the American light oil was 140.39 dollars per bar- yields this year will be higher than last years`. The by which the longest share decline in the history
rel, which presented first break of the psychologi- former EU agriculture commissioner Franc Fishler ended. The most liquid shares on the market
cal limit of 140 dollars per barrel. Previous oil predicted this. He is a creator of the mutual agri- recorded price growth which is due to the
price record on the New York Stock Exchange cultural policy of the European Union form 2003, increased demand. For the first time since the
was realized on 16 June of 139.89 dollars per bar- and whose visit is observed by media. Regarding beginning of the month the market indicated pos-
rel. the fact that nobody believes that the oil prices will itive vibration from the investors. MBI-10 incre-
The statement of increasing the heating price drop on the level two-three years ago, which ased by2.4 percent and ended on 4.710, 18
caused disturbance and revolt to citizens, which means that the production costs of the agricultur- points. This is the first growth of MBI-10 since the
are barely paying the bills lately, when the price al products will increase and as a consequence of beginning of the month. The correction lasted 18
increased by 18.5 percent for Toplifikacija – this food prices will drastically reduce – said trading days and is the longest correction on
Skopje and 8,9 percent for the thermal energy Fishler on the seminar Policy of the rural Macedonian Stock Exchange in its 11 year histo-
delivered in Skopje- Sever. As media inform, Development – experience from the European ry.
regarding the constant increase of the oil price union, held in Skopje, and said that the key of suc- Newspapers also announce the eco action of
and the heating oil, the majority of citizens are cessful rural development in Macedonia is the ProCredit bank, under the motto “preserve the na-
prepared to cancel the heating and to consider appliance of the international standards in the ture” which will take place in Skopje. The employ-
alternative ways of heating. But, those who want agriculture and infrastructure modernization. ees of Procredit bank together with the support of
to be disconnected from network of Toplifikacija Guest workers also insisted on subventions, the public utility enterprises Komunalna higiena,
will face some problems because they will have to is the headline of the article in Vreme, where it Parkovi I zelenila and Ulici I patista will clean the
pay 50 percent from the amount which had been can be read that this year, for the first time, there river Vardar quay in Skopje, city beach in Ohrid,
paying it for heating. According to the explanation is a great interest for subventions at Macedonians the road towards Popova Sapka and dam Vodoca
given by Toplifikacija, the reason is that those cit- that work abroad having piece of land in – Strumica.
izens receive heating from the pipes which pass Macedonia in which they want to invest. The last
through their apartment and the neighboring data say that around 45.000 agriculturists are reg-

2. TOP NEWS - IMPORTANCE BY NUMBER OF PUBLICATIONS


1. SUBVENTIONS MUST BE IN THE HANDS OF THE REAL AGRICULTURISTS (***)
2. THE OIL REACHED OVER 142 DOLLARS PER BARREL (***)

DNEVNIK p.4 MACEDONIAN HALO MORE EXPENSIVE THAN THE EURO-


p.9 TOPLIFICATION CHARGES FOR DISCONNECTED HEATING PEAN
p.9 PEVEC TO OPEN SALOON IN SKOPJE p.8 THE CITIZENS TO RENOUNCE FROM CENTRAL HEATING?
p.9 CHEAPER BUSINESS- CREDITS FROM STOPANSKA BANKA p.8 EUROPEAN SALARIES FOR MACEDONIAN FARMERS
p.9 МBI 27.06.2008 p.8 THE GASTARBAITERS WENT FOR THE SUBVENTIONS TOO
UTRINSKI VESNIK VEST
p.7 SUBVENTIONS MUST BE IN THE HANDS OF THE REAL AGRI- p.2 EDUCATION OF PROCREDIT BANK EMPLOYEES
CULTURISTS p.14 THE OIL REACHED OVER 142 DOLLARS PER BARREL
p.9 THE OIL BREAKS ALL RECORDS EXCEEDING 142 DOLLARS NOVA MAKEDONIJA
PER BARREL p.8 THE LONGEST DECLINE OF THE STOCK EXCHANGE`S HIS-
p.9 STOCK EXCHANGE FINALLY IN POSITIVE BALANCE TORY ENDED
p.9 KOMERCIJALNA BANKA WITH NEW EMISSION OF SHARES p.8 THE STOCK EXCHANGE GOES DOWN, CLEVER ONES PUR-
VECER CHASE
p.6 PRICE OF THE OIL REACHED A NEW RECORD WITH OVER p.9 OLD PROBLEMS OF AGRICULTURISTS FROM STRUMICA
142 DOLLARS PER BARREL p.9 OIL PRICE REACHED RECORD 142 DOLLARS PER BARREL
p.7 FOOD PRICE DECLINE p.9 RUSSIANS WILL COOK WITH YEAST FROM BITOLA
p.8 PRESERVE THE NATURE SPIC
VREME p.5 BROOMS FOR THE EMPLOYEES OF PROCREDIT BANK
p.1 MACEDONIAN HALO MORE EXPENSIVE THAN THE EURO-
PEAN
16 berzNIK number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
Date 30.06.2008

23.06.-28.06.2008 MONDAY-SATURDAY
1. SHORT REVIEW IN THE WEEKLY MAGAZINES

GLOBUS Pg 42 ZITO VARDAR COVERS THE LOSS


The Assembly has decided the loss worth 367 thousands of euros or
Polluting industry 22.5 millions of denars to be more precise realized in the beginning of 2007,
Pg. 38 NS: Macedonia with bronze medal for air pollution to be covered by the compulsory general reserve of the company, and from
Only Bulgaria and Czech Republic have worse eco image from our the special reserves for covering the loss of the company.
country but, at least these countries move towards reduction of this negative Pg 42. ZK PELAGONIJA RECEIVED 9 942 OWN SHARES BY MEANS
eco image. The world reduces the “production” of waste, while we increase OF COMPENSATION
the waste which is most likely to redouble during the next 15 years. The agricultural factory Pelagonija from Bitola received 9 942 own
If Europe currently give “rotten apples” for countries` bad environmental shares by way of non trading transmission (compensation). This represents
image, our country would won the third place regarding the air pollution and 3.6 percents from the total sharholding capital of the company, regarding the
the presence of elements which create the greenhouse, a key definition fact that the shareholding company has issued a total of 278 620 shares.
about the horror in future which the planet earth would face through the cli- Pg 43 IS THERE AN END TO THE CRASH? (16.06 – 19.06.2008)
mate changes. According to data from last week, Macedonia holds the 31st The period from 16th until 19th of June, represents bad stock exchange
place among 170 countries in the world which signed the Kyoto protocol week, where we all have seen a decrease of the turnover in the classical
according to the air pollution measurements through the presence of carbon trading and the continuous crash of the index in all of the five days of the
dioxide. Last on the list with greater air pollution in Europe are Czech trading. Its value decreased for 5.25%, to 5 012.36 points, while the MBID
Republic and Bulgaria. lost 4.16% of the value.
Pg 44 DOUBLE TAXATION, OBSTACLE FOR THE ISRAELI
KAPITAL INVESTORS
Jakir Kostadinovik is a connoisseur of the economic and of the trading
Pg 24 WHO WINS AND WHO LOSES FROM THE INCREASE OF THE relations between macedonia and Israel. Although he lives and works in
PRICE OF THE FOOD Israel, Kostadinovik is often engaged on certain orijects or business visits
Although incredible at first sight, after long years of tranquility of the from Macedonia in Israel.
Macedonian agriculture, these days the farmers in Macedonia “are back in Pg 46 UNI BANK Celebrated 15 years
the game”. Again, the time has come for the agricultural workers, time in Last week, Uni Bank has celebrated 15 years of its work on the
which the food manufacturers that have anticipated that the value of the food Macedonian market. The bank, with dominant Bulgarian capital, is present in
will increase will live well from their fields. If at one time in the Former Macedonia since 1993.
Yugoslavia, the southeastern part of Macedonia had been the richest part of The first general director of Uni Bank Stojan Kralcev, said that the bank
the country, as a result of the early horticulture products, now one can expect is having continuous success in the growth of its working
living up of the rest of the agricultural regions.
Pg 29 ERA SITY WILL BE CITY IN CITY! FORUM
The ERA CITY project is been announced for a long time now in the
Macedonian public. The ceremonial laying of the foundations on the location Pg.26 WHICH IS THE NEW GATEWAY OF WESTERN BALKAN?
of the Skopje fair will occur on the first of February this year, and recently you The strike of the port workers in Greece which began at the begging of
have announced that Granit will be the performer of the construction work. the year is expected to last until its end, predicts Stevica Charapik, President
How are the things going, which will be the dynamics of the construction of of the Group of International forwarders and logistic operators. Until the sit-
the objects and what are the time frames for a total completion of the proj- uation of the Thessalonica’s port is stabilized, the Macedonian economy will
ect? suffer enormous economic losses.
ERA CITY is a unique project in the region. We are building city in a city. The Macedonian forwarders are complaining about the bad attitude of
This is a big and complex investment that includes more separate projects. the Greeks, and some of them have already started to look for another alter-
The projects such as ERA City can not be build in procedures, first to build native in some of the other Balkan’s ports.
one business building, then the shopping mall, but this project is being build Pg.31 THE STOCK EXHNAGE IN RED
simultaneously. The previous week the Macedonian stock exchange index survived the
Pg 38 THE BULL WILL ARRIVE ONLY WITH BIG FLOW OF FRESH higher drop of value in the last two months. If taken in consideration the value
MONEY! of 5.021,36 points as average at which MBI closed at the last trading day of
ALESH ZUPANCIC, DIRECTOR FOR RESEARCH IN POTEZA FROM the week (20th June), that average is halved when compared to its value on
SLOVENIA 31 August the previous year which is the greater in the history of the
This time, last year, the price of the shares on the Macedonian stock Macedonian Stock Exchange.
exchange were setting new records, and this year the value of the shares is
sinking, and as if no one sees the light at the end of the “tunnel”. Knowing MAKEDONSKO SONCE
the regional markets of capital and having in mind the influence of the world
financial crisis, how do you analyze the sudden and continuous crash of the P.34 STIMULATIONS OR EXPENSIVE BREAD
stock exchanges in the region in the last nine months? These days the Macedonian agriculturalists- producers of wheat are
Pg 40 “SUBTLE SANCTION” FOR THE BANKS determined. For them the purchase price of more than 20 denars per kilo-
From the first of July, the banks and the saving houses in the country will gram of wheat is the only profitable solution. According to the agriculturalists,
be obliged to separate compulsory deposits with the National bank, if the they will not allow their effort to be devaluated as it had been in the past
credits for the population go over 40% at the end of December, 2008. The years.
separation of the compulsory deposit will be performed monthly, for the
amount for which the banks would eventually step the already determined FOKUS
monthly rate of credit growth.
Pg 42 TEHNOMETAL VARDAR NEW SHAREHOLDER IN MAKOSH- P.26 MACEDONIAN ECONOMY TO COMPETE WITH THE ALBANIAN
PED IN ORDER TO AVOID THE LAST PLACE IN EUROPE
The Tehnometal Vardar Company is the new shareholder in the forward- Macedonia makes success, says the PM Nikola Gruevski in its last inter-
ing company Makoshped, with 10.41% of the shares capital, reported yester- view. What he means under the term “makes success”, is not very clear, but
day from the sector for financial and accounting in Makoshped. It is a matter the success certainly is not stirring one of the passionate readers, who seats
of a transaction that happened last week, with which a change in the owner- on the low iron sidewalk fence near the local newspaper store, and thanks to
ship of 82 106 regular shares occurred that were previously owned by Vasko the acquaintance with the newspaper seller, he is browsing the last issue of
Talevski. Fokus.
S.30 DEVILS TRINITY MADE BINGO ON THE MACEDONIAN STOCK
Pg 42 TEDIKO SUPER INVESTED 440 000 EUROS IN FIVE NEW EXCHANGE
MARKETS The only thing that can explain the enormous drop of the Macedonian
Fifty thousands of euros are invested in the new market of Tediko Super, Stock Exchange is the fact that the major increase of the index of over
which opened last weekend in the Skopje settlement Taftalidje. In 10.000 was based upon speculations. The speculation is previously planned
September, opening of new tediko Super market is planned, on a surface of operation of intended, minimal elements, located in the power or within the
850 square meters in which for decorating and equipping it, 200 thousand of companies which are listed on the Stock Exchange, or in the Macedonian
euros have been invested. brokerage houses.
Date 30.06.2008 number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
berzNIK
17
EVENTS THAT MARKED THE WEEK...
COUNCIL OF THE NATIONAL BANK OF THE REPUBLIC OF MACEDONIA
Government of the Republic of Macedonia, and
PROTECTIVE MECHANISMS FOR BANKS` AUXILIARY SERVICES this money require no certification when entering
the territory of the republic of Macedonia.

T
he decision for amending of the Decision for banks` operations. Amendments on the Decision
security of bank`s information system, which refer on organization and performing internal revi- The Decision also provides adjustment of reg-
Council of NBRM passed on the session held sion in savings banks. In this occasion, beside that ulations which refer on opening of accounts by
on 26th of June, includes amendments for addi- way of organization and performing internal revi- aliens in case when they are not present in the
tional regulation of conditions which banks may sion, envisaged in the Law on Banks, the Decision bank with regulations for prevention of money laun-
apply when using auxiliary services from compa- provides opportunity if the savings banks` service dering and financial support of terrorism. In the
nies for its information system. Amendments refer does not include internal revision official – author- same time, it changes regulations which refer on
on conditions that must be fulfilled by banks which ized auditor, this activity, along with the person/s the obligation of banks to block accounts of clients
passed or will pass decision for hiring company for hired in the organization part of savings bank`s in case when they are inactive, i.e. accounts` pas-
performing auxiliary services to the bank seated internal revision. sive period increases from one to two years before
outside Macedonia. Amendments envisage appro- bank`s obligation to block the account comes into
priate protective mechanisms which should provide The basic goal of moved amendments on the force.
information system of these banks to be continu- Decision is providing of efficient internal revision in
ously functional and provide free access to data for savings banks, in conditions when they face real IK BANKA A.D. SKOPJE
their operations on the territory of the Republic of problems due to lack of authorized auditors on the 3.7% of the bank traded
Macedonia. In the same time, the decision envis- market. Hiring external authorized auditors, due to
ages obligation for companies that provide auxil- providing continuity in performing of the function
in one transaction
iary services for banks` information system to internal control, is in accordance to Basel Practices Last week, 1 542 shares of the Export –
adjust with international standards for information for performing efficient internal revision. Cerdit Bank (Izvozno – Kreditna banka, IK
security ISO/IEC 20000. Adjustment term for com- banka) have been sold priced 12 000 denars
panies that provide auxiliary services for banks and ALIENS TO DEPOSIT FOREIGN MONEY per share. The total value of the transaction
already has concluded agreements with any bank amounted around 18 504 000 denars, or
or will conclude by 31.12.2008 is determined until FOR FREE around 3.7% of IK banka. The shares have
01.01.2010. All other companies that provide auxil- Council passed a decision for amending the been sold in one block transaction on the
iary services for banks` information system that will Decision for the means and conditions for opening Regular market – free market. Besides the tak-
conclude agreement with any bank after and managing accounts for aliens, which makes ing over of the bank that has been announced
31.12.2008 will be obliged to acquire envisaged adjustment to the Decision for amending of the by the Dutch Demir Hulk Bank, they have
standard for information security. Decision for conditions and amount of effective for- given up unexpectedly on low price, in this
eign money and cheques which can enter and exit block transaction although the last transaction
AUDITOR FOR INTERNAL REVISION ON the Republic of Macedonia (Official Gazette of the on the Regular trading has been completed for
Republic of Macedonia No. 69/08). The adjust- a price of 50 000 denars per share, while a
SAVINGS BANKS ment, in fact, provides opportunity for aliens to while ago, the sale of own shares to a well
deposit effective foreign money on their accounts known buyer has been approved for a price of
Council passed a decision for amending the at authorized banks in term of one month in 49 000 denars per share.
Decision for conditions and means of savings amount that will be additionally determined by the

Ecological initiative of the employees of


PROCREDIT BANKA IN ECO ACTION
Procredit banka in joint action with the
Komunalna higiena- Skopje, PE Parkovi I SAVE THE NATURE, NOT ONLY
zelenilo and PE Ulici I patista
THE MONEY!
U
nder the motto, save the nature, Procre- the dam Vodoca near Strumica. More, in the ac- up and placed will be serviced, but in the same
dit banka in the course of the months Ju- tion under the motto Save the nature is includ- time she made appeal to the citizens to be con-
ne and July in cooperation with Komu- ed all employees and the management of the scious and to use the placed waste-baskets.
nalna higiena - Skopje, PE Parkovi I zelenilo bank.
and PE Ulici I patista will realize the eco action, - In the past five year working, Procre-
in which frames will be cleaned the waste in dit banka wanted to be more than a bank, there-
many locations in Skopje, public areas, streets, fore is frequently organizing activities for pro-
parks. motion of the living environment. The major
The activities which are planned in the fra- ecological action for clearing the waste around
mes of this action will re realized as four major the country under the motto Save the nature,
regional actions for cleaning the living environ- the employees of Procredit banka initiated this
ment, locally and regionally. In the frames of the action in the frames of their social responsibiliti-
local activities will be cleaned the public areas, es, stated Biljana Severinova, marketing ma-
parks, squares, rivers beds in the towns around nager in Procredit banka…
Macedonia - locations selected according to the The action will continue also in the follow-
priorities of the community itself. The action ing weekends when there will be clearing of
started on Saturday at the same time in four lo- Vodno, as well as clearing of other green areas
cations in the Republic. In Skopje the action near the exposures of the bank around the co-
was realized along the quay of the river Vardar untry. In the frames of the action will be placed,
on the area between the new bridge which is in each municipally, 10 waste baskets where
near the Railway station and the hotel Alexan- Procredit bank has exposures.
dar Palace, in Ohrid was cleaned the town be- Jugoslava Polenak from the Komunalna
ach, in Tetovo in the area of the road that leads higiena assessed positively the action, and ga-
to Popova Sapka and the picnic place around ve promise that everything that will be worked
18 berzNIK number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
Date 30.06.2008

W E E K LY R E V I E W O F M A C E D O N I A N S T O C K E X C H A N G E
period 23.06. - 27.06.2008
Date 30.06.2008 number 29
DAILY STOCK EXCHANGE REVIEW OF PRINT MEDIA EVENTS
berzNIK
19