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