Archive for February, 2010

News from Romania. Archive for February, 2010

Telecom market in Q4: Internet and TV services less affected by crisis

Demand for Internet services via fixed lines went down in the last quarter of last year compared with the previous years but maintained high, reveals a ZF [... more]

Retail loans in Romania are troublesome for Austrians at Erste

Retail loans in Romania were the most problematic for the Austrians at Erste, which saw one of the fastest deterioration rates in [... more]

What does IMF think needs to be done on banking, insurance and capital markets?

Improvement of the people's access to financial services, increasing banks' capital and changes in the insurance and capital market legislation are [... more]

Ingleby outruns major Romanian farming business owners

Ingleby Agricultura, part of the Ingleby group controlled by Danish billionaire family Rausing, paid 8.2 million euros to buy 2,000 hectares of farming land, [... more]

7% decline in budget revenues in January

Overall budget revenues started the year with a decline, by 6.8% in January against January 2009, mainly amid a decline in consumption, with the steepest [... more]

Another 33,000 employees distributed randomly in pension lottery

Managers of mandatory private pension funds were in for a surprise in February: the number of clients they were allocated as part of the random distribution [... more]

CEZ preserves revenues in crisis: 370m euros, despite lower energy consumption

CEZ Romania, the local subsidiary of Czech energy group CEZ managed last year to preserve the revenues reported on the Romanian market in 2008, although [... more]

Deutsche Telekom in Romania: 1.1bn-euro revenues and 293m-euro EBITDA

Deutsche Telekom, the largest communications operator in Europe, has for the first time included in its yearly financial report data on Romania, with figures [... more]

Over 10,000 old cars disposed of in first week of scrappage scheme

More than 10,000 cars were scrapped in the first week after the launch of the “Rabla” (old car) scrappage scheme, that is 2,000 cars daily, four times [... more]

Horia Ciorcila wins SIF1 war with Ioan Cuzman

Ioan Cuzman, chairman of SIF Banat-Crisana (SIF1 financial investment company), has relinquished three of the seven positions in the Board of Directors to [... more]

Construction materials manufacturers ask for better lending terms

Pro BCA (Pro ACC) Association, controlling around 70% of the market, accuses banks of coming up with exaggerated demands when they lend money to firms in the [... more]

BRD head: We lose 5% of collateral-backed bad loans

The final loss BRD posted from bad loans backed by a real collateral (mainly mortgage-backed ones) reaches 5% of their value, states Guy Poupet, BRD [... more]

Apemin Tusnad: When you start off way behind rivals, you need a riskier strategy

Gyarfas Kurko, the 35 year old entrepreneur of Harghita who in the past 10 years has driven a plant on the verge of collapse to turnover worth above 10m [... more]

42m-euro turnover for Can-Pack in 2009

The Romanian subsidiary of Poland's Can-Pack group, which owns an aluminium packaging plant in Bucharest, a less visible business, ended last year with [... more]

Roche expects “relatively low” growth of 5% this year

Hoffman La Roche pharmaceutical giant, the second biggest player on the Romanian drug market, for this year has budgeted a “relatively low” increase of [... more]

Banks worried about 850 million euros lent for malls in Bucharest

Eight banks have granted 850 million euros in financing for the malls in Bucharest over the last four years. Sun Plaza, the latest such project, is a bet of [... more]

Vigroux, Mazars: Romanian employees are not motivated to be paid based on a record of employment book

“Let's not hide from the truth: in Romania wages are still paid in envelopes. Many companies do not comply with the law. I am not talking about tax [... more]

Most indexes on BSE end session in the green, the five SIFs inch only 0.10%

Indexes on the Bucharest Stock Exchange [... more]

Florian Libocor, BRD: Romania should go through with the IMF agreement

Romania should go through with the International Monetary Fund agreement, even there are voices saying that Romania could give up the other instalments from the [... more]

Romania and Bulgaria seal memorandum for 262 million euros worth of border programmes, EU financed

The Memorandum for Trans-border Cooperation programme Romania - Bulgaria 2007 - 2013, worth of 262 million euros, has been officially signed on Friday, February [... more]

Romania and Bulgaria ask EC to extend ISPA programme to finish projects worth 100 million euros

Romanian and Bulgarian governments have adopted a joint declaration on Friday, February 26, in Sofia to extend the eligibility deadline for all Romanian and [... more]

Romania and Bulgaria ask the European commission to extend ISPA programme to finish projects worth 100 million euros

Romanian and Bulgarian governments have adopted a joint declaration on Friday, February 26, in Sofia to extend the eligibility deadline for all Romanian and [... more]

Giurgiu-Ruse Bridge crossing fee could be cancelled

The Romanian and Bulgarian governments are analysing the possibility of cancelling the car fee drivers pay when they cross the Giurgiu-Ruse Bridge over the [... more]

Jay Weissberg, Variety: I believe Romanian cinematography is extraordinarily powerful now, but that doesn't mean a masterpiece has to be released every year

He was one of the critics who published praising chronics for the Romanian fill "If I want to whistle, i whistle", immediate after the Berlin [... more]

UPDATE Gazprom Export sources: Gazprom did not invite Transgaz officially to join South Stream

UPDATE There hasn't been any official invitation from Russian company Gazprom to Romanuan company Transgaz for the latter to take part in South Stream, [... more]

Economy state secretary: Romania has not received any official invitation to join South Stream project

Romania has not received any official invitation to join energy project South Stream, Romanian state secretary in the Economy Minister Tudor Serban told RFI [... more]

Economy Dr. Doom Nouriel Roubini comes to Romania in May

Famous economist Nouriel Roubini called "Economy Dr. Doom" will be in Bucharest during Mai 24-26 2010. He is scheduled to take part in the seventh [... more]

Moldavians close to the Romanian border cross to Romania without passport. Small border traffic is being implemented

Moldavian citizens living 50 km away and closer to the Romanian border can enter Romania without passport starting Friday, February 26 2010. This is due to the [... more]

Moldavians living close to the Romanian border centre Romania without passport. Small border traffic is being implemented