News from Romania

What the newspapers say: March 11, 2010

Hotnews.ro English — Thu, 11 Mar 2010 06:42:00 +0000

In politics, find out what PSD Geoana misses out and what the Democrat Liberals win by taking over the Senate's Speaker position from Geoana. Elsewhere in the news, one newspaper claims that Romanian schools produce mediocre students with a diploma. On a lighter tone, Cluj Napoca, central Romanian plans to become the European Capital of Culture in 2020. The Spring Jazz Festival in May in Bucharest will bring about the long awaited spring, let's hope.

The five financial companies SIF end session with mild drops, on a market soaring 1.05%

Stiri din ENGLISH BRIEF — Wed, 10 Mar 2010 19:34:56 +0000

Liquidity amounted to 25.64 million lei, versus 15.23 million lei in the previous session. The BET index reflecting the evolution of the ten best companies on BSE added 0.72 percent to 5, 541.23 and the BET- C composite index assessing all listed shares minus financial companies rose 1.05 percent

Companies: There’s life after insolvency. Consultants: Don’t rely on banks

ZF - ZF English — Wed, 10 Mar 2010 18:11:36 +0000

Most of the companies that went insolvent stand high chances of avoiding bankruptcy, but to do it they must not expect financing from banks.

Fabryo expects to boost market share this year

ZF - ZF English — Wed, 10 Mar 2010 18:10:28 +0000

Varnish and paint producer Fabryo Corporation, held by investment fund Oresa Ventures, intends to boost its market share to 25% this year, compared with just over 20% in 2009.

Who’s vying for the most eagerly awaited infrastructure project, the tube in Drumul Taberei?

ZF - ZF English — Wed, 10 Mar 2010 18:09:49 +0000

Businessmen Ovidiu Tender, Radu Ouatu, Florea Diaconu and Alexandru Horpos compete with international giants in the construction sector to achieve Bucharest's most awaited infrastructure work in Bucharest, the Drumul Taberei tube.

Caroli-Campofrio merger removes Ovidiu Wencz from new management structure

ZF - ZF English — Wed, 10 Mar 2010 18:08:52 +0000

Ovidiu Wencz, general manager of charcuterie producer Tabco-Campofrio, will not be part of the management of Caroli Foods Group, formed by the merger of the Caroli group with the local subsidiary of European giant Campofrio Food Group, according to sources in the industry.

Romanians at Allview are working on a mobile phone with GPS, 3G and WiFi

ZF - ZF English — Wed, 10 Mar 2010 18:08:07 +0000

Visual Fan, a Brasov-based company with 3 million euros in annual turnover, which manufactures and sells electronic products under its own brand Allview, will invest around 200,000 euros this year in research and development of new products, among which a dual-sim mobile phone compatible with 3G and Wi-Fi technologies.

Lukoil expects 2% decline in fuel market, if things stay the same

ZF - ZF English — Wed, 10 Mar 2010 18:07:09 +0000

Lukoil Romania, the third largest player on the local fuel market, which owns around 300 petrol stations with over one billion euros in turnover, believes sales of refined products could continue their slide on the overall market in 2010, after last year saw a 6% decline in petrol and diesel oil sales on the Romanian market.

Emporiki: 18m-euro loss in 2009

ZF - ZF English — Wed, 10 Mar 2010 18:06:23 +0000

Emporiki Bank, local subsidiary of Emporiki Bank Greece, a member of French group Credit Agricole, posted an 18.3 million-euro loss last year, more than double that recorded in 2008, of 7.8 million euros, according to the audited financial reports published by the bank.

How Grigore Chis wants to change one of the largest brokerage firms on the market

ZF - ZF English — Wed, 10 Mar 2010 18:05:36 +0000

Broker Cluj is currently focusing its strategy on attracting young, well-informed clients, who trade online, as well as on “awakening” the firm's thousands of inactive clients, says Grigore Chis, general manager of Broker.