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Archive for February, 2010
News from Romania. Archive for February, 2010
Victor Ponta: The Social Democrats will submit a censure motion if the pension law will pass in the Parliament
Social Democratic Party President Victor Ponta declared Thursday night that if the pensions law will pass in the Parliament in its current form, his party will [... more]
Crisis protectionism: Germany extends by two years restrictions to Romanian transporters
German Transports minister decided to extend by two years restrictions to Romanian and Bulgarian transporters. Until December 31, 2011, transports operators in [... more]
Ukraine: Yanukovici decreases its salary by 50% shortly after he swears in
Ukraine's President Viktor Yanukovici decided on Thursday, shortly after he swore in as President, to decrease by 20% all spending of the Presidential [... more]
The SIF sector on BSE declines over 2% at day-end, following negative data from U.S.
Corrections widened on the Bucharest [... more]
Overdue loans even more problematic in January
Overdue loans of individuals and companies climbed to 4.37% of the overall volume, with the almost half a percentage point rise on December disrupting the [... more]
Romania could reach sales of 8 million tyres per year
Representatives of Goodyear Dunlop Romania say the Romanian tyre market is significantly underdeveloped in terms of consumption per number of inhabitants, as [... more]
“Price was the problem, not housing demand. The market will rebound”
The Romanian real estate market has in recent years attracted a lot of foreign investors through the fast profits it brought, but this is not the model that [... more]
Is sale of independent car dealers to foreign groups back “in fashion”?
The deal by which Bulgaria's Eurohold group took over a dealer of Renault Nissan Dacia brands in early February brings up again the issue of Romanian [... more]
Recession eats into small banks’ market shares but allows others to rise fast
Many of the banks with a less than 3% market share lost ground in recession year 2009 due to either freezing or significantly slowing down lending due to [... more]
Petrom’s profit up 34% despite consumption decline
Petrom, the only petroleum and gas producer in Romania, controlled by Austrian petroleum group OMV managed to end 2009 with a 1.36 billion RON (326 [... more]
Pepsi and Coca-Cola, two-digit sales declines in 2009
The two soft drinks industry giants, Pepsi and Coca-Cola, which account for three quarters of the domestic market together, saw their sales volumes slide by [... more]
Piraeus preserves business in Q4
Piraeus Bank, the domestic subsidiary of one of the biggest Greek financial groups, in the fourth quarter of 2009 maintained almost unchanged its loan and [... more]
ZF Expert: European fund-fuelled production, the key to economic rebound
European fund absorption is Romania’s chance to boost production and offset the decline of consumer spending, said the guests at the open editorial meeting [... more]
Ford looking for people to hire at its national sales company
Ford Romania, the second leading carmaker on the local market, will hire more than 100 people for its new National Sales Company set to take over the import [... more]
TCE Logistica gave up 650 employees and half its cars in 2009
“The atmosphere is completely different now,” says Sorin Sofian, general manager of TCA Logistica, a top five courier on the market, who expects a 4% [... more]
First annual decline for Allianz-Tiriac turnover: 7%
Allianz-Tiriac, the biggest company on the insurance market, has fully felt the crisis fallout, witnessing the first annual turnover slump, of 7% in [... more]
UPC: Premium TV services bring our clients back
UPC Romania, ranking second on the Romanian TV services market, saw its cable TV client base slightly narrow down in the fourth quarter as well, but the [... more]
Economy minister Videanu: we need to conduct a study to liberalize the natural gas market
Romania's Economy minister Adriean Videanu declared for HotNews.ro at the Summit on energy security and the Summit on the Danube Delta that Romania's [... more]
Superior Council of Magistracy 's proposal for Supreme Court Chief: Livia Doina Stanciu
The Superior Council of Magistracy decided on Thursday, with a majority of votes, to propose Livia Doina Stanciu as President of the Supreme Court, Agerpres [... more]
Mircea Geoana: I will not leave the party
Former Social Democratic leader Mircea Geoana announced on Thursday, on his blog, that he will not leave the party and will not just watch how those who stood [... more]
Aerosmith to perform in Romania
Aerosmith will perform in Romania on June 18, part of their European tour, Cocked, Loaded, Ready to Rock Tour, the band's website reads. However, the [... more]
Orange Romania revenues dropped by 19.5% to 1.05 billion euro in 2009
Orange Romania revenues exceeded 1.05 billion euro last year, registering a 19.5% drop compared to 2008, a result given mostly by the general unstable economic [... more]
Yanukovici swears in as Ukraine's President: Ukraine confronts with huge debt, poverty a collapsing economy and corruption
Ukraine's President, Viktor Yanukovic swears in on Thursday as President after his victory on February 7 in the general elections, Reuters reads. He [... more]
What the newspapers say: February 25, 2010
Most newspapers on Thursday read about PSD Cristian Diaconescu's decision to leave the party and join the Independents group in the Senate. In the same [... more]
The Bucharest Stock Exchange ends session mixed, the five financial companies SIF inch 0.4%
The Bucharest capital market (BSE) had [... more]
Romania at the bottom of the EU savings ranking with 1,000 euros/capita
After a year of double-digit interest rates on savings, Romanians had bank deposits equivalent to 1,095 euros on average, whilst Hungarians had three times [... more]
Nelu Iordache wants to build first private airport with 200m euros in Adunatii Copaceni
Nelu Iordache, 43, one of the most discreet businessmen on the Romanian market, owner of Blue Air, Romstrade, and La Mosie, which are part of a half a [... more]
When US stock market rises, invest in Bucharest
The Bucharest Stock Exchange BET index boasts the strongest correlation to the US S&P 500 of all stock exchange indices in the region, as when S&P [... more]
Energy giants are cautious, seeing slight increases only for 2010
The most valuable state owned companies among which Hidroelectrica, Romgaz and Transelectrica, are extremely cautious when it comes to 2010 business [... more]
IMF believes Romania will offset decline by 2012
Romania’s economic growth over the next few years will bring the GDP back to the 2008 level after the 7.2% drop in 2009. It will not happen any sooner than [... more]
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