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INTERCITY BROKER JSC WEEKLY REPORT BROKER-DEALER COMPANY Member of Belgrade Stock Exchange Member of Central Securities Depository and Clearing house A u g u s t 1 7 – A u g u s t 2 1 , 2 0 0 9 52 Maksima Gorkog St., Belgrade, Serbia Tel: +381 (11) 3083-100, 3087-862; Fax: +381 (11) 3083-150 e-mail: [email protected]; www.icbbg.rs Indices Retreat On Last Trading Day After reaching the year-high on last Friday (August 14) Belgrade Stock Exchange indices closed in red on Monday Fluctuation of Stock Exchange Indices and than mounted a strong rally, on Thursday turnover (%) in the Region (1-m Change) jumped fivefold, but pulled back in lower turnover on 25 Friday. On weekly level, the blue-chip index Belex15 gained modest +0.77%, broader Belexline index rose just +0.10% while traded value recorded 10.91% increase. 20 Lissovolik: IMF may consider letting Serbia use standby loan to back budget. Minister Mrkonjic: Model for cheap housing projects 15 in a couple of weeks, construction of 20,000 apartments to begin in March 2010. Subsidized loans worth EUR 741.9m granted. Foreign reserves rise 3%m/m to EUR 9.2bln at end July. CPI 10 inflation edges up to 8.5% y/y in July. Sreckovic: Diaspora sends USD 14m per day. Textile companies from Sumadija established a cluster. Trade-in scheme for locally produced Punto to be 5 expanded. Serbia 2009 Wheat output rises 1.7% to preliminary 2.131m tones. “Alliance One Tobacco” provided additional means for tobacco manufacturers. EPS to become co-owner of RTB Bor in debt-to-equity swap. Serbian businessman Philip Zepter mulls 0 buying 3 Croatian shipyards. Tender for Belgrade Fair officially 22-Jul 28-Jul 3-Aug 9-Aug 15-Aug 21-Aug declared unsuccessful. Government adopts measures for trouble petrochemical company Petrohemija. “Delta agrar” is expecting -5 2.500 tones of apples in the fruit yard “Podunavlje”. NIS BELEX 15 CROBEX SBI 20 shareholders approve shares distribution and the company sells BIRS NEX 20 25,000 tons of heating oil to Commodity Reserves. Austria Antriebstechnik launches takeover bid for remaining 27.2% in Source: Official Websites Subotica based “Sever” and Slovenian Novoline Launches takeover bid for remaining 5.5% in Transped. Belex15 Belexline 670 1,300 660 1,280 650 1,260 640 630 1,240 620 1,220 610 1,200 600 1,180 590 580 1,160 570 1,140 560 1,120 550 1,100 22-Jul 28-Jul 3-Aug 9-Aug 15-Aug 21-Aug 22-Jul 28-Jul 3-Aug 9-Aug 15-Aug 21-Aug C O N T I N U O U S T R A D I N G M E T H O D Most Active Stocks of the Week Top Gainers/Losers of the Week Traded Value Change Change Issuer Symbol Issuer Issuer (in RSD) (%) (%) Agrooprema a.d. AGOP 108,410,868 Planum GP +11.89% Jubmes banka -12.48% Beograd a.d. Beograd a.d.Beograd Metalac a.d. Napred GP Gornji AIK banka a.d. Niš AIKB 31,444,018 +9.98% a.d.Beograd -7.41% Milanovac Pupin Politika a.d. Telecom Soja protein a.d. Bečej SJPT 19,025,477 Beograd +7.50% -6.98% a.d.Zemun Messer Fidelinka Tehnogas a.d. Agrobanka a.d. Beograd AGBN 13,563,927 +6.38% a.d.Subotica -6.61% Beograd Vojvodinaput a.d. Novi Agrocoop a.d. Metals banka VPNS 11,182,074 +6.00% -6.12% Sad Novi Sad a.d.Novi Sad Business News of the Week News from the Belgrade Stock Exchange (BSE) China and Serbia Boost Strategic Partnership ► ATB Sever a.d. (ATBS) – Takeover Bid Minister Dinkic signed with Chinese Minister of Commerce Chen ► Informatika a.d. (INFM) – Report On Shareholders Meeting Deming an agreement on economic and technological cooperation for infrastructure projects in Serbia. Moreover, Dinkic stated that one ► Tranšped a.d. (TNBG) – Takeover Bid loan, approved by Export-Import Bank of China, with a 15-year repayment period and a 5-year grace period at maximum interest ► Soja protein a.d. (SJPT) – H1 2009 Financial Statement rate below 3% per year, will be used for Zemun-Borca bridge noting that the project will be worth up to EUR 200 million. Addressing ► Vojvodinaput a.d. (VOJP) – Management Board Decision On participants of the Serbia-China Trade and Investment Forum on Proprietary Shares Acquisition Thursday, Tadic proposed that bilateral cooperation include Chinese ► Takovo a.d. , Gornji Milanovac (TKVO) - Report On involvement in the building of a bridge on the Danube and the establishment of a duty free zone for Chinese companies in Serbia. Shareholders Meeting “Serbia hopes to discuss how to expand economic cooperation and Foreign Investors Participation in Total Turnover welcomes Chinese enterprises to invest in Serbia,” Xinhua quoted Tadic as saying. He added that Serbia will participate in the 2010 100% World Expo in Shanghai. (Source: Serbian Government) Bambi-Banat Recorded 6% Growth In Sales 80% GM of “Bambi-Banat” concern Miroslav Miletic, stated that the company marked in the first half of 2009 a growth in sale of sweet 60% products for 6% compared to the same period of the last year. “Bambi” was successful in H1 2009r and above our planned budget, 40% and this trend was continued in July and in August, said Miletic, adding that the company was very satisfied with made results 20% especially very good market response regarding the new line of products. According to his words, a high share has been kept on 0% domestic market, therefore out of overall sale 77% of products is sold on domestic market, which showed consumers’ growth, while 17-Aug 18-Aug 19-Aug 20-Aug 21-Aug 23% of the sale is placed in foreign markets. (Source: Biznis) France’s Intermarche Invests EUR 30m In Hypermarkets In Total FIS b-FIS s-FIS FIB Serbia The French retail chain announced that it had so far invested EUR Source: Belgrade Stock Exchange 30m in opening 8 stores in Serbia. Interex General Manager for the Foreign investor’s participation in turnover of shares (FIS) on the Balkans Patrick Berthe announced at the opening of Interex in buy-side (b-FIS) hit the highest point on August 21 (48.94%) and Obrenovac that it is planning to open another 10 stores in the trading in government bonds (FIB) on August 18 (18.38%). On Balkans in 2009, of which another two will be opened in Serbia. (Source: Tanjug) weekly level, foreign investors participated in total b-FIS 23.96% and in total s-FIS 19.99%. Victoria Oil Offered Less Expensive Edible Oil From Sid-Based Ultra Modern Factory Republic of Serbia Bonds (Yield) “Victoria oil”, member of Victoria Group, started serial production of new oil named “Iskon” based on French technology and most up-to- Series 14-Aug-09 21-Aug-09 % change date equipment. Due to latest technology, the consumers get lower A2010 95.50 95.75 +0.26% price and good quality. In the plant which manufactures around 14.000 bottles per hour, there are only 4 people employed. The A2011 90.20 90.51 +0.34% factory can manufacture 100 million bottles annually which is the A2012 85.53 85.99 +0.54% overall need of the Serbian market. That’s why, the company plans A2013 81.07 81.08 +0.01% to export around 50% of entire manufacture. The oil manufacturer is A2014 76.06 77.36 +1.71% expecting to become a leading exported of sunflower oil to European and regional countries and some quantities have already been A2015 72.60 72.72 +0.17% exported to Italy, Switzerland and Austria. (Source: B92) Source: Belgrade Stock Exchange Middle Exchange Rate E U R / R S D Republic of Serbia T-Bills (RSD) At the auction of 3-month T-Bills held on August 18, 2009 the securities amounting RSD 6bln (EUR 64.3m) were sold equaling 94.0 100% of the issuance volume at the interest rate of 12.15% p.a. 93.5 At the auction of 6-month T-Bills held on August 20, 2009 the entire issuance worth RSD 5bln (EUR 53.7m) was sold at the 93.0 interest rate of 12.15% p.a. Achieved discount rates of 12.15% p.a. are higher than the key 92.5 policy rate that is set at 12%. 92.0 Serbia holds scheduled auctions of three-month T-bills every week on Tuesdays and of six-month T-bills on Thursdays. 22-Jul 28-Jul 3-Aug 9-Aug 15-Aug 21-Aug The next auctions of three-month and six-month T-bills will be held on August 25 and August 27, respectively. Source: National Bank of Serbia DISCLAIMER: The information and any opinions, estimates and forecasts have been obtained from sources believed by City broker to be reliable but without representation or warranty express or implied is made by us as to their accuracy or completeness. This report is provided only for information purposes. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security. The information, opinions, estimates and forecasts may well be affected by subsequent changes in market conditions. This document may not be reproduced in whole or in part or published for any purpose. .
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    Basic analysis of targeted agricultural sectors D6.2.5 Country Report Serbia Project AGROinLOG “Demonstration of innovative integrated biomass logistics centres for the Agro‐industry sector in Europe” Grant agreement: 727961 From November 2016 to April 2020 Prepared by: UBFME Date: 28/05/2018 Disclaimer excluding Agency responsibility This project has received funding from the European Any dissemination of results must indicate that it reflects only the author's view Union’s Horizon 2020 research and innovation and that the Agency is not responsible for any use that may be made of the information it contains programme under Grant Agreement No 727961 Document: D6.2.5 Basic analysis of targeted agricultural sectors – country report Serbia Author: UBFME Version: Final Reference: AGROinLOG D6.2 Date: 28/05/18 DELIVERABLE FACTSHEET Project start date: November 2016 Project website: www.agroinlog‐h2020.eu Deliverable number: D6.2.5 Deliverable title: Basic analysis of targeted agricultural sectors – country report Serbia Lead Partner: Wageningen Food & Biobased Research (WFBR) Work Package no. and title: 6. Generic strategies for the development of future IBLCs Task no. and title: 6.2 Basic analysis of targeted agricultural sectors Version: final Version Date: 28‐05‐2018 Diffusion list Dissemination level X PU = Public PP = Restricted to other programme participants (including the EC) RE = Restricted to a group specified by the consortium (including the EC) CO = Confidential, only for members of the consortium (including the EC) Approvals Company
  • Annual Report 2007 English

    Annual Report 2007 English

    ANNUAL REPORT 2007 REVIEW The EBRD, owned by 61 countries and two intergovernmental institutions, aims to foster the transition from centrally planned to market economies in 29 countries from central Europe to central Asia. The EBRD invests in virtually every kind of enterprise and financial institution, mainly in the form of loans and equity. Investments are designed to advance the transition to market economies and to set the highest standards of corporate governance. We do not finance projects that can be funded on equivalent terms by the private sector. In support of our investment activities, the EBRD conducts policy dialogue with national and local authorities to develop the rule of law and democracy. Transmittal letter to Governors London, 5 March 2008 In accordance with Article 35 of the Agreement Establishing the Bank and Section 11 of its By-Laws, the enclosed Annual Report of the Bank for 2007 is submitted by the Board of Directors to the Board of Governors. The Annual Report includes the approved and audited financial statements required to be submitted under Article 27 of the Agreement and Section 13 of the By-Laws. It also contains a separate statement on the Special Funds resources, in accordance with Article 10 of the Agreement Establishing the Bank, and covers the environmental impact of the Bank’s operations, as required under Article 35 of the Agreement. President Jean Lemierre Director Alternate Director László Andor Pavel Št˘epánek Terence Brown Walter Cernoia Alain de Cointet Francis Mougenez Anne Counihan Ib Katznelson