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Ziarul Financiar « News from Romania



Premier Boc sacrifices six ministers to stay in office

The government reshuffle was much greater in scope than expected, both in terms of the value of the portfolios debated and of the powerful political positions [... more]

Analysts: New Government, too, will have to build its policies around the IMF arrangement

Romania needs to improve its credibility after the political turmoil surrounding the reshuffling, with the new Government in turn needing to build its policies [... more]

Boromir left with three companies out of ten

The Boromir group in Râmnicu Vâlcea, leader of the Romanian bakery market, will be left with three companies out of ten following a shareholder decision to [... more]

Is the local currency still a clear advantage for the Romanian economy?

While the outlook of euro adoption around 2015 is ever more uncertain, economists state the advantage of having our own currency, for which the Romanian elite [... more]

Hilton sticks Double Tree brand on a four-star hotel in Bucharest

Hilton chain has affiliated Bucharest City Hotel four-star hotel (the former Tulip Inn), which operates 88 rooms and is controlled by Lebanese-born Raafat [... more]

Bankers make loans more expensive for second month in a row

New loans became more expensive in July, both RON and euro-denominated ones, for the second consecutive month, although bankers are complaining of a lack of [... more]

Angelli: The budget for 2011 is ready, but we have already modified it twice

Sparkling wine Angelli Spumante & Aperitive recorded a 5% rise in volumes sold on the Romanian market in the first six months of this year, but the [... more]

Blue Air boss unhappy with the company’s profit

Sherif Ussama, the general manager of Blue Air low-cost airline, is getting ready to lay off pilots and flight attendants, after having cancelled all domestic [... more]

Analysts: It’s just a matter of time until builders’ stocks rebound

In most of the cases, construction firms saw their turnover plunge in the first half of the year, but analysts count on a rally starting next [... more]

GDF SUEZ goes to Bulgaria for regional energy trading

GDF SUEZ Energy Trading Romania, a company specialised in electricity trading controlled by GDF SUEZ French-Belgian group, is set to enter the Bulgarian market, [... more]

State wipes out 1bn euros from consumption by cutting public sector employee salaries. What will Romanians give up first?

A new wave of decline will reach the major consumer markets in the second half of this year, considering the state is wiping 1 billion euros from consumption by [... more]

Constructions and trade continue to drag the economy down in Q2

The continued rise of industry in the second quarter of the year, and the return to growth of agriculture and of financial activities compensated for the steep [... more]

Export of the year: 100 million euros’ worth of power go to Serbians

The biggest energy producer in Romania, Electrica, as well as a local branch of a Serbian group controlled via a Cyprus-based offshore company are the players [... more]

Absorption of EU funds sees a mere 0.2% rise despite PM threats

The drawing of European funds has been one of the criteria in the evaluation of ministers' activities, as announced by premier Emil Boc, an evaluation meant to [... more]

Dacia bets on expansion

Exports of the Dacia Mioveni plant will accelerate as of 2011, driven both by the current range, and by Complete Knock Down kits shipped to the other plants in [... more]

Clients start suing banks to have their costs cut

Several hundred clients of Volksbank met on Tuesday evening to launch a class action against the bank, asking for the elimination of some contract fees and [... more]

Is a new Communications Minister needed?

Gabriel Sandu, an economist with experience in the furniture and agriculture fields, whom the Democratic Liberal Party (PD-L) in December 2008 put in the [... more]

Violeta Ciurel, former head of ING Viaţă, returns as president of AXA Romania

Violeta Ciurel, who was for five years president of ING Asigurări de Viaţă (ING Life Insurance) - market leader of the segment - and then worked with the [... more]

Erste AM changes strategy and goes after institutional clients for mutual funds

The biggest fund manager, Erste Asset Management, handling assets worth over 2.2bn RON (518m euros), is tailoring its strategy to the new market conditions, [... more]

BCR becomes real estate broker to stimulate loan sales

BCR, the biggest bank on the Romanian market in terms of assets, has become a real estate agent and launched a portal with sale ads for apartments, houses, and [... more]

Head of euro zone, Trichet, to attend NBR’s 130th anniversary on Sunday

Jean-Claude Trichet, European Central Bank president, will be in Bucharest on Sunday to deliver a speech before the gala concert to take place in the evening at [... more]

Snagov review: Who leaves the Government and who stays?

Carpatica asks shareholders to come up with another 15 million euros

Banca Comercială Carpatica (BCC stock symbol) controlled by Sibiu-based businessman Ilie Carabulea, proposed its shareholders to increase the share capital by [... more]

It’s official: Decline of real estate market continued into 2010 by 10%

Tentative fees in notaries' scale, which are used to calculate fees and taxes for real estate transactions, will be cut by 10% as of September 1st in Bucharest [... more]

Leonardo commits to pay over 200,000 euros per month to banks

Leonardo, the biggest Romanian footwear retailer, held by businessman Florin Panea, which has received approval for judicial reorganisation from most creditors, [... more]

Top ten Greek banks stay profitable in H1

The subsidiaries of Greek financial groups felt the impact of credit risk differently in the first six months of 2010. Thus, while Bancpost saw loan portfolio [... more]

Logitech: Keyboard, mouse and speaker sales to fall this year, as well

Sales of PC peripherals (mice, keyboards, speakers, webcams etc) in Romania will shrink to around 18 million euros this year, following the decline of computer [... more]

Nokia Siemens Networks eyeing home electric meters

Nokia Siemens Networks, one of the world's biggest technology providers for the telecom industry, will this year enter the domestic energy market which, [... more]

How do analysts see the end of the year on the Stock Exchange?

After a year start marked by stormy increases amid global economic revival expectations and a second quarter that brought some of the biggest corrections of [... more]

Gheţea, ARB: If we are forced to cut interests on old loans, we will make new ones more expensive

Banks will make new loans significantly more expensive if they are forced to significantly cut costs for clients with ongoing loans, following the enforcement [... more]