BNR Exchange Rates
11.03.2010- 1 EUR
4.0987 RON - 1 USD
3.0013 RON - 1 CHF 2.8053 RON
- 1 GBP 4.5122 RON
Romanian business news Last update: 12.03.2010
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11 Mar 2010 | Economy S&P Raises Romania Outlook Standard & Poor's Ratings Services raised its outlook on Romania to stable, citing its view of the Eastern European nation's sustained budgetary reform program. The ratings agency also cited its expectation Romania would continue to comply with a International Monetary Fund/European Union… read more -
11 Mar 2010 | Financial and Banking Governor Mugur Isarescu discussed with the bankers about norms, regulations and loan resumption The BNR governor Mugur Isarescu met at the BNR club the representatives of the banks and the officials of the Romanian Banking Institute, the discussions having a technical feature. " Governor Isarescu made a presentation of the banking system, after which the discussions continued about norms and regulations, cooperation between banks and the National Bank" sources quoted… read more
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11 Mar 2010 | Economy Annual inflation rates below the analysts' expectations The annual rate of inflation in Romania fall in February to 4.49% from 5.20% recorded i January, after consumption prices went up 0.20% against the previous month, according to the Romanian National Statistics Agency (INS). Economists estimated the annual inflation to 4.6% in February, based on a 0.3% increase in consumerist prices… read more
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11 Mar 2010 | Regional Europe EU comes up with exit strategy for climate talks The EU's new commissioner for climate action wants Europe to continue leading global negotiations and pursue deeper emission cuts, even if its current pledge of 20% reductions by 2020 is not matched by other developed countries. "The EU must continue to take leadership," Connie Hedegaard told the European Parliament Tuesday (9 March) in Strasbourg… read more
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11 Mar 2010 | Regional Europe EU to table nuclear waste treatment law The European Commission will table legislative proposals on the treatment of nuclear waste by the year's end, its president Jose Manuel Barroso announced Sunday (8 March) during a major OECD-hosted conference on civil nuclear power in Paris. Speaking at the Organisation for Economic Cooperation and Development (OECD)… read more
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10 Mar 2010 | Financial and Banking Romania will launch 1 billion euros worth of Eurobonds Romanian Central Bank (BNR) vice-governor Cristian Popa and Finance minister Sebastian Vladescu have stared on Monday, March 8 2010, a promotion tour: Romania will launch a Eurobonds issue on foreign markets. "Technically speaking, these road-shows used to be meetings between Romania's reps with foreign investors - banks, risk funds s.a. Romania's representatives will introduce a kind of Memorandum… read more
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10 Mar 2010 | Financial and Banking Romania keeps its target : euro starting January 2015 The convergence programme of Romania for 2009 - 2012 updated in February this year focuses on the reduction of the budgetary deficit under 3% of GDP and keeps the commitment to adopt the euro starting January 2015. The reduction of the budgetary deficit under the level of 3% of GDP in a sustainable way and Romania accession to the euro zone are the main commitments assumed by the government in the latest edition of the convergence programme… read more
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10 Mar 2010 | Economy February unemployment rate climbs to 8.3% Unemployment rate jumped 0.2% in February to 8.3%, pushing the number of jobless to 762,000, data from the Labor Agency (ANOFM) show.Unemployment rate increased by 0.2% in February to 8.3% from 8.1% a month earlier.The total number of jobless rose to 762,375 of which 622,765 from the private sector, and the rest from the public sector… read more
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10 Mar 2010 | Business South-Korean company to build electronic parts factory in Oradea Shinheung south-Korean company, one of the Samsung suppliers started to build the first workshop in the industrial park Eurobusiness Parc Oradea where in July there will start production, production worth 20 million euro. The mayor in Oradea, Ilie Bolojan stated, in a press conference organized in Eurobusiness Parc, that the first company to function in the industrial park has started to lay the foundations… read more
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10 Mar 2010 | Business Grim outlook for Bucharest malls: high vacancy rates and poor sales Shopping centers in Bucharest have a total retail floorspace of 500,000 sqm, and with a development pipeline figure of around 3 million sqm across the country, the vacancy rate is very likely to climb and tenants sales figure to fall short of expectations, according to a research by RegioPlan Consulting, an independent trade consulting and market research company… read more
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09 Mar 2010 | Financial and Banking Moody's: the perspective of the banking system in Romania is negative The perspective of the banking system in Romania is negative due to the difficult economic conditions determined by the world financial crisis, but the banks were capable to absorb the shocks, according to a report of the Moody's financial evaluation agency. The agency says that the financial support on the part of the IMF and the EU… read more
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09 Mar 2010 | Economy BERD : the stimuli announced by the Romanian government were rather « imaginary » The stimuli package of 13 billion euro announced in February 2009 by the Romanian government for the counterattacking of the effects of the economic crisis was " more imaginary rather than real" the European Bank for Reconstruction and Development says (BERD). As a result of the crisis, many governments announced fiscal programmes… read more
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09 Mar 2010 | Business Business community worried by after-crisis period The chairman UGIR-1913 Ioan Cezar Coraci, stated on Saturday at the PNL congress that the present government does not seem to understand the fact that it is necessary to have public policies to overcome the economic crisis which keeps Romania away from the European average… read more
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09 Mar 2010 | Financial and Banking Romanians find it hard to pay back loans Debts in the payment of loans in euro and Swiss francs went up more rapidly in January than in 2009, while the payment delays over 30 days advanced by 14.7% against December, at 3.26 billion lei, according to BNR. Thus, after a monthly increase of debts in euro loans under 100 million lei in 2009… read more
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08 Mar 2010 | Financial and Banking BNR Governor Isarescu, still optimistic about GDP and inflation prospects Governor of the National Bank of Romania (BNR) Mugur Isarescu is still optimistic about the future developments in Romania's Gross Domestic Product (GDP) and inflation, and he is critical of what he called projecting becoming a national pastime with specialists. 'I want to be very clear that I am optimistic,' Isarescu said on Thursday… read more
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08 Mar 2010 | Regional Europe MAE examines simplification of issuance of small cross-border traffic permits Ministry of Foreign Affairs examines together with the authorities in charge in Romania simplification ways for the issuance of the small cross-border traffic permit for Moldovan citizens, both in line with the valid bilateral agreements and the European norms in the field of crossing the border and Schengen rules, MAE told AGERPRES at its request… read more
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05 Mar 2010 | Economy Romania's GDP shrinks 6.5% in 4Q Romania's gross domestic product for the fourth quarter 2009 contracted 6.5% from the same period of 2008, according to the revised data provided by the National Institute of Statistics.The country's GDP for the last quarter of 2009 is estimated at 152.295 billion lei (€35.7 billion)… read more
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05 Mar 2010 | Economy Debts to Romania: 1.2 billion dollars Other states debts to Romania, based on the contracts concluded prior to 1989 with 13 countries, exceed 1.2 billion dollars, to which almost two billion transferable roubles are added, owned by Cuba, but no progress was made with the authorities in Havana in the past twenty years, Bursa daily informs… read more
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05 Mar 2010 | Economy Gazprom accepted on Romanian OPCOM market The UK Gazprom Marketing & Trading Ltd subsidiary, owned by the Russian energy giant Gazprom, was granted the right to trade electric power on the bilateral agreement market for the power exchange of Romanian power market operator (OPCOM), daily Financiarul informs… read more
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05 Mar 2010 | Business European financing for energy efficiency projects A number of 19 Romanian companies received EUR 15.9 million in European funding under the Energy Efficiency Financing Facility (EEFF), a program developed by the European Commission and the European Bank for Reconstruction and Development (EBRD) for the financing of energy efficiency projects in the private industrial sector… read more
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04 Mar 2010 | Politics Political migration and perversion of senses Political migration has again become a problem in Romanian politics, placing under the question mark the representativeness of the present Parliament. Six members of Parliament, of whom two former ministers of the PDL-PSD coalition government - foreign minister Cristian Diaconescu and labour minister Marian Sirbu… read more
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04 Mar 2010 | Financial and Banking Mugur Isarescu: You can't build highways with deficit in the pension budget Highways cannot be built in Romania in the conditions of the significant deficit of the pension budget, BNR governor Mugur Isarescu considers. "At present you cannot build highways with a deficit at the pension budget which absorbs all available sums from the central budget," BNR governor, quoted by Agerpres, declared in Timisoara on Tuesday… read more
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04 Mar 2010 | Business Statistics: Number of house building permits drops by 46 percent 2,251 house building permits were issued in January 2010, a 46.1 percent decrease as opposed to January 2009, a release of the National Institute of Statistics informs.The number of construction permits for residential buildings released in January 2010 was 1,904, a 22.9 percent decrease in comparison with January 2009… read more
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04 Mar 2010 | Business Henkel Romania, 571 M lei in 2009 turnover Henkel Romania ended 2009 with 571 million lei in turnover (approx. 135 million euros), according to a release of the company. In 2009, Henkel Romania's two divisions operating on the consumer goods market, namely the, 'Detergents and Household Cleaning Products' and the 'Cosmetics / Toiletries' divisions, had very good scores… read more
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04 Mar 2010 | Business 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, machinery and buildings in Timis County from another Danish group, FirstFarms, at the end of December… read more
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04 Mar 2010 | Business 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 showing that the German group has for the first time outranked rivals Orange and Vodafone in terms of revenues, with over 1.1 billion euros… read more
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03 Mar 2010 | Financial and Banking FinMin: Budget collections in February amount to 98-99 percent compared to schedule Budget collections in February were made in an amount similar to the one in January, 98-99 percent compared to the schedule, Public Finance Minister Sebastian Vladescu told Agerpres on Monday. In January, the execution of the consolidated general budget registered a surplus estimated at 15.3 million lei and the consolidated general budget revenues amounted… read more
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03 Mar 2010 | Economy Vacancies' rate drops 0.50 pct The vacant jobs rate continued to decrease reaching a 0.50 percent level in the last quarter of 2009, a National Institute of Statistics release sent to Agerpres informs.The vacant jobs rate represents the percentage ratio between the number of job vacancies and the total number of jobs… read more
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03 Mar 2010 | Economy Bureaucracy and government economic policies - main issues to be under accusation by Swiss investors The investments of the Swiss companies to Romania are estimated at the beginning of 2010 at about 1.12 billion euro, between ranks 6 and 8 in the top of foreign investors in our country, according to a report lauched on Monday, 1March by the Swiss Embassy to Bucharest. The document mentions a series of barriers to investments and makes a series of recommendations… read more
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03 Mar 2010 | Economy How much money does the State make out of concessions and farming lease The income of ADS (the agency for state domains) diminished last year by 24% at 78.6 million lei, as compared to the previous year when the institution had incomes of 103.5 million lei, according to the data offered by ADS. ADS gets monely from such activities as concessions and farming lease, company selling and sanitary-veterinary surgeries offices… read more
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