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Tandem Financial has released its Serbia Daily report for March 18, 2009.
The report povides daily Information on the major economic developments in Serbia, as well as an overview of the trading on the Belgrade Stock exchange.
Stocks - Secondary trading
Most Active (table)
Gainers (table)
Losers (table)
Prime market - Stocks (table)
Standard market - Stocks (table)
Current Takeovers (table)
Totals
Shares / RS Bonds / Total (table)
EUR/ USD/ CHF (table)
Belex 15 (chart, table)
Belex line (chart, table)
Bonds RS (chart, table)
Block Trading (table)
Economic Review
WAZ’s Request for Purchasing Novosti Still Under Consideration
The Commission for the Protection of Competition still hasn’t reached a decision on German media giant WAZ’s intention to buy a majority stake of Novosti from Belgrade, stated for Beta news agency the president of the Commission’s Council Dijana Markovic-Bajalovic, on Wednesday. She said that the Commission had requested from WAZ to provide additional documents, thus enabling this institution to determine whether the group would have monopoly on the market after this purchase. Several months ago, WAZ requested from the Commission to allow it to buy a 60% stake in Novosti. This group already co-owns two dailies in Serbia – Politika from Belgrade and Dnevnik from Novi Sad; in addition, it is the sole owner of Belgrade-based Stampa.
Source: Beta
More than Half of Fuel Price goes to the State
With the new change in the price of oil derivatives that is soon to follow, Serbia will set the new unenviable record. Oil products will be costlier than in the summer of 2008, when the price of oil dizzily grew and one barrel of oil cost two times more. Our country is already heading the list of countries with the costliest fuel in this part of Europe, and the fact that more than one half of the price goes for tax burdens contributes to such state of affairs. According to yesterday’s movements in oil price, which is currently set at USD 80 per barrel, and the dollar exchange rate, there are still conditions for the increase of over RSD 3 per liter. Nevertheless, the final amount of the increase will be known today. From the beginning of 2010, in only three months, the price of oil products in Serbia increased for four times, due to regular corrections and the increase in excise duties. The overall increase was around RSD 6 as of the beginning of this year. Thus, the excise duty on gasoline is now RSD 44.7, which, together with VAT, represents more than 55 pct of the current price of fuel. Therefore, the fact that Serbian drivers pay the costliest gasoline is not surprising.
Cheap Cash Boosts Foreign Goods Import
The Economy Minister, Mladjan Dinkic announced that the state will soon start extending subsidized cash loans for the retail sector, indexed in dinars, whereas interest rates should not exceed 7.5 pct for those with less than RSD 30,000, and 8.95 pct for citizens with higher incomes. There will be a one-year grace period, throughout which citizens will pay only the interest. In spite of the fact that most number of bankers announce that it will take part in this credit line, there are those who are not comfortable with the idea of the state determining their interest rates. Nevertheless, the economists warn that the authorities could unintentionally cause the increase in the purchase of import goods by granting cheap money to citizens, in addition to encouraging the demand for Serbia-made products, which is the original intention of this plan with the ultimate goal of raising the level of production in Serbia. (Read more in the enclosure)
Source: Danas
EBRD’s Loan
The Director General of PE Serbian Railways, Milovan Markovic told Tanjug that the European Bank for Reconstruction and Development (EBRD) will most probably approve a EUR 100mn loan to this public enterprise by June, intended to upgrade tracks along the railway section of Corridor 10, and also for the procurement of 16 electric locomotives.
Source: Blic
Corporate Sector Obtained EUR 150mn in One Month
The Economy Ministry has announced yesterday that the corporate sector in January was injected more than EUR 150mn through the programs for alleviating the negative effects of the global financial crisis. In January, around 1,500 companies obtained the loans for the maintenance of solvency in the amount of EUR 130mn. Small-size companies were granted EUR 28mn, medium-size companies – EUR 26, whereas the large companies received EUR 76mn. The investment loans also recorded a jump, and 25 loans worth EUR 1.8mn were extended, while only 12 investment loans worth EUR 2.3mn were realized throughout the entire 2009. Around EUR 21mn was extended for the purchase of Punto, tractors, trucks, and consumer goods in January this year. Total EUR 1.25bn was injected through favorable subsidized loans since February 2009, the announcement said.
Source: Danas
Jelasic: Stability of Prices Remains a Key Goal of the NBS
The National Bank of Serbia Governor, Radovan Jelasic said yesterday that the key goal of this institution is to accomplish and maintain the stability of prices, and added that this year’s inflation should be set at 6 pct with the margin of plus or minus two percent. During his visit to the Regional Chamber of Commerce in Subotica, Jelasic continued to uphold the same views. Namely, he believes that the dinar exchange rate against euro will be determined by the market, and added that he could not say accurately on what will be the euro exchange rate in the end of this year.
Source: Tanjug
All traded shares (table)
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Copyright: 2007 BDD TANDEM FINANCIAL a.d. research Department. All rights reserved. For further Information please contact Tandem Financial, 4 Miroslava Antica Str, Novi Sad, Serbia
Tel. , fax: , e-mail: research@tandemfin.com, web site: http://www.tandemfin.com
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Serbia Daily Report 18.03.2010.pdf, 274 Kb
