Archive » August 2006 » 09 August 2006 The english news from 09 August 2006
Romania:American Hostway Co. Buys OpenLink Co.
The American company Hostway bought OpenLink, a company set up by a young Romanian, aged 26, Flaviu Radulescu. The transaction amounted to over 600,000 euros, ACT Media news agency reports.…
Romania: Caboto to Produce Energy from Alternative Sources
Italian consortium Caboto, specializing in the production of energy from alternative sources, plans to invest over 40 million euros in Chisineu Cris, Arad county (north-west of Bucharest) to build a waste gasification plant, ACT Media news agency reports.…
Romania: Arctic Co. Invests € 9 mln in Gaesti Plant
The producer of refrigerators Arctic Gaesti will carry out this year an investment programme worth approx. 32 million RON (or 9 million euros) after it had invested roughly 10 million euros in increasing the production capacity and in re-engineering, ACT Media news agency reports.…
Romania: Spanish CIE Berriz to Take Over Matricon of Targu-Mures
Spanish company CIE Berriz is to take over Targu-Mures-based Matricon producer of spare parts in a public offer worth 4 million of euros, ACT Media news agency reports.…
Romania: Profit of 73 mln RON for HVB Bank in H1
HVB Bank Romania posted in H1 2006 a net profit of 73 million RON (some 20 million euros), up 7% versus H1 2005, ACT Media news agency reports.…
Romania: €22m Business Plan for Nike's Importer
Elmec Romania, the importer and distributor of the Nike sportswear on the domestic market, posted 45-50 percent sales growth in the first half compared with the same time last year, ACT Media news agency reports…
Romania: Retail Sales Increase 25.1% y/y in H1:06
Romania's retail sales for the first half of 2006 rose 25.1% year-on-year, led by a strong growth in food, beverages and tobacco sales, the National Statistics Institute data showed.…
Romania: 23 % from Romtelcom's Shares to Enter Proprietatea Funds
As many as 23 percent from the value of the Romtelecom shares due to be sold on the stock exchange will enter the account of the Proprietatea Fund, ACT Media news agency reports.…
Romania: Vodafone to Implement Virtual Private Network for Petrom
Vodafone Romania and oil company Petrom on Tuesday signed a partnership under which the mobile phone operator will provide Petrom nationwide communications and service infrastructure, reads a joint press release of the two companies, ACT Media news agency reports.…
Romania: Industrial Production Rises by 6.7% in 1H06
For the first half of the year, industrial production registered a positive evolution as against the same period of the previous year, unadjusted index being 105.9% per total industry and 106.3% at level of manufacturing.…
Romania: BCR Expands Network to 440 Units
Romanian Banca Comerciala Romana (BCR) announced that it has expanded its network to 440 units, after opening 20 branches throughout the country in July and early August 2006.…
Romania: USA Might Withdraw Trade Benefits
The United States are looking at the possibility of withdrawing the preference schemes granted to Romania and to 12 other emerging economies including India and Brazil, stated American officials cited by Reuters, Nine o' Clock reports.…
Romania: RCI Banque Acquires RCI Leasing
The Competition Council authorised the acquisition of RCI Leasing by RCI Banque, member of the Renault Group, the competition authority announced, Nine o' Clock reports.…
Romania: WB to Grant $100 mil Loan for Rural Development
The Ministry of Agriculture will finalise in September negotiations with the World Bank for a funding programme with the minimum value of $100 mil, for the cadastre and establishment of rural credit houses, Agriculture Minister Gheorghe Flutur stated, Nine o' Clock reports.…
Romania: Oltchim Cancels Share Cap Raise
Oltchim's shareholders approved the cancellation of the share capital increase.…
Romania: SEE Fund II to Invest €60 mil
Southeast Europe Equity Fund II (SEEF II), a fund managed by American company Bedminster Capital Management for acquisitions in Southeastern Europe, will invest some €60 million in Romania, the main fields being the banking services, mass-media and the pharmaceuticals industry.…
Romania: Mures to Invest €46 mln in Residential Projects
The project will cover a surface of 80,000 sqm and will include 80 houses and eight blocks of flats, built in the next four-five years, said Remus Benta, general director of the company, according to BusinesRomania.com…
Romania: Six Companies Lease 17 Oil Deposits
Negotiations surrounding agreements for the operation of 17 oil blocks ended on Friday with the respective deposits being leased to a number of six Romanian and foreign companies, reads a statement by the National Agency for Mineral Resources, according to Ziarul Financiar.ro…
Romania: ETA Expects €21m Turnover in 2006
Timisoara-based ETA group, including four companies operating in different segments of the IT market, estimates it will post turnover worth 21 million euros and 4% profit margin this year, Romulus Lucaciu, general manager and the sole shareholder in the companies of the group, told Ziarul Financiar.ro.…
Romania: Atlassib Air, a New Romanian Airline
Ilie Carabulea, the owner of Atlassib Holding, announced he had obtained an airline license and had already bought an aircraft, Bursa reports.…
Romania: Fin Min to Propose '07 Budgetary Deficit of 2% of GDP
Romanian Finance Minister Sebastian Vladescu stated he plans to propose to the Government a budgetary deficit target of 2% of GDP for 2007, corresponding to €2.1 billion, slightly lower than 2006 target.…
Romania: AVAS Collects Claims of €70 mil in H1
The Authority for State Asset Resolution (AVAS) collected in the first half of the year claims amounting to RON 245.7 M (approx. EUR 70 M), which is similar to the level reported for the first half of 2005, president of the institution Razvan Orasanu announced, Nine o' Clock reports.…
Romania: Fiscal Authority to Collect Debts from State-owned Companies
The Romanian fiscal authority, (ANAF), found additional debts owed to the state budget by public institutions and companies in which the state holds shares that amount to an aggregate 222.85 million lei, the authority said, Nine o' Clock reports.…