Archive » April 2009 » 27 April 2009 The english news from 27 April 2009
Shareholders of Romania's financial companies name new leaders and set dividends
Shareholders of Romania's financial companies known as SIF held today general meetings, named new leaders and agreed upon the distribution of dividends between 0.03 lei per share and 0.06 lei per share. Members of SIF Moldova (SIF2) approved to pay a gross dividend of 0.045 lei per share, 10 percent down from the one distributed last year and half of the profit will be directed to the company's reserves…
IMF's testing schedule imposed for banks
Commercial banks that could drop below the 10 percent solvency threshold, following a stress test required by the International Monetary Fund (IMF), will be compelled to increase their capital by September, according to the letter of intent signed by Romania's government and the IMF for a €12.95 billion loan, according to government sources for Business Standard…
Romanian Govt To Borrow About EUR1B This Year Via Foreign Loans For Investments
Romanian ministries will borrow 4.1 billion lei (about EUR1 billion) this year via external loans, which it plans to use for investments mainly in transports, environment and regional development, official sources told MEDIAFAX Sunday. Of the total, the Ministry of Transports will borrow RON1.6 billion, the Ministry of Environment will get RON608 million and the Ministry of Regional Development and housing will get RON586 million…
Salami with EU funds!
Those who want to invest in a meat processing factory can receive EU financial aid half of the eligible value of the project. A meat processing factory with irredeemable European Union aid is part of the measure of encouraging the growth of value added for agrarian and forest products…
Lending down threefold year-on-year in March
The growth ratio of lending dropped two thirds year-on-year in March, to 23.1 percent, due to low demand and the reluctance of banks to grant loans, due to the financial crisis. Furthermore, experts are not ruling out a plunge in lending to a mere 10 percent this year. This is the most severe decline registered in the past 20 years…
Romania's Proprietatea Fund To Be Listed By Yearend - Board Member
Romanian investment fund Fondul Proprietatea will be listed on the Bucharest Stock Exchange by the end of the year, head of privatization authority AVAS and member of the Fund's Board, Mircea Ursache said Monday. Last week, the fund's president and general manager Dana Lulache said the manager selection process at Fondul Proprietatea should be completed by early July, when the eight bids expire…
Erste Group revised downward the growth estimations for Romania's economy
Erste Group revised downwardly the growth estimations for Romania, from an advance by 1.2 per cent to a contraction by 2.1 per cent this year and from 3 per cent to 2 per cent in 2010, within the context of worsened worldwide demand evolution and confidence of consumers in Central and Eastern Europe…