Archive » August 2006 » 21 August 2006 The english news from 21 August 2006
Romania: Investkredit Bank AG Starts Activity on Local Market
The Romanian subsidiary of Investkredit Bank AG, a specialized bank within the Volksbank Group operating in Central Europe, has started the activity on the local market, by extending a financing of 19 million euros to real estate investment fund Fabian Romania Property Fund Ltd, ACT Media news agency reports.…
Romania: EU Accession will Bring 50% Price Hikes for Foodstuff
After Romania's accession to the European Union, foodstuff prices might rise even by as much as 50 percent for particular products such as meat, reveal estimations made by consultancy companies, ACT Media news agency reports.…
Romania: BNR Lifts Nova Bank’s License
The National Bank of Romania has lifted Nova Bank’s license after one year and a month during which the institution has operated in a special settlement regime, ACT Media news agency reports…
Romania: Euromoney Declares BRD “Best Bank in Romania”
The July issue of the Euromoney magazine presents the classification of the best banks worldwide and by geographic regions, ACT Media news agency reports.…
Romania: Cofidis Branch Starts Operating in Bucharest
The French consumer loans company Cofidis has registered a branch in Romania, ACT Media news agency reports.…
Romania: Bayerische Landesbank Seeks 6% of the Market
The leaders of Bayerische Landesbank (BayernLB), that holds 89.6% of Hungary’s MKB Bank, have recently presented plans to expand in Romania through Romexterra Bank which they intend to take over, targeting a market share of 6%, reads a bank communiqué, ACT Media news agency reports.…
Romania: BNR and Credit Office Sign Protocol to Streamline Reporting Procedure
The Credit Office will remit the National Bank of Romania (BNR) data regarding the outstanding amounts for credits smaller than 20,000 lei, thus easing up the task of commercial banks that will no longer be required to report both to the Credit Office and the BNR Banking Risks Central Office, the conditions for the protocol to become operational will be set in place by year-end, ACT Media news agency reports.…
Romania: Four Banks Get Rating Upgrades From Fitch
Four Romanian banks – “Ion Tiriac” Bank, Bancpost, BRD - Groupe Société Générale and UniCredit Romania – had risk rating agency Fitch upgrade their ratings for indebtedness instruments denominated in foreign currencies from “BBB-” to “BBB+”, ACT Media news agency reports.…
Romania: EU Accession Brings About D&O Liability Insurance
Insurance experts expect the expanding responsibilities of company managers after EU accession to boost the market of professional liability insurance for managers, ACT Media news agency reports.…
Romania: Gabriel Resources Trades Shares on Toronto Stock Exchange
Gabriel Resources Company, the initiator of a gold and silver quarrying project at Rosia Montana, Mount Apuseni, has announced having traded shares on the Toronto Stock Exchange to raise funds for the project, ACT Media newx agency reports.…
Romania: Salaries in Constructions to Grow €1/ hour, Every Year
Gross average earnings in the construction sector will reach 500 euros as late as 2010, specialists say. This value is significantly below the level of wages in the countries with a developed construction segment, according to Ziarul Financiar.ro reports…
Romania: €35m Mall in Bacau City
Arena City Center company has started building a mall-type commercial centre in Bacau, worth 35 million euros, according to Ziarul Financiar.ro reports…
Romania: Marelvi, €13m Turnover in H1
Suceava-based Marelvi company, a distributor of electrical home appliances, registered turnover worth more than 13m euros in the first half of the year, up 8% from the similar period of last year, according to Ziarul Financiar.ro reports.…
Romania: Zapp Expects $125m Turnover
Mobile telephony operator Zapp expects this year's financial results to be at least similar with those seen in 2005, namely turnover worth 125 million dollars (98 million euros, at the current exchange rate), Piermario di Pietro, CEO of Zapp told ZF. Last year, the company posted operating profit worth 15 million dollars (12 million euros), Ziarul Financiar.ro reports.…
Romania: ProCredit Attracts 200m RON from Local Banks
ProCredit Bank, a small-sized bank specialised in funding microenterprises, will attract a syndicated loan worth almost 200 million RON (56.6 million euros) from the local market, according to Ziarul Financiar.ro…
Romania: Fitch Improved Country Rating
The financial evaluation agency Fitch Ratings revised upward, by two levels, the country rating granted to Romania and to other 39 countries, as a consequence of changes in the calculation methodologies, Nine O'Clock reports.…
Romania: SBP Took Over Energy Holding
Energy Holding, a company supplying electric energy in Romania and in South-Eastern Europe, was taken over by Société Bancaire Privée (SBP), a Swiss bank located in Geneva, Nine O'Clock reports.…
Romania: French Retailers to Invest € 1 bln until 2010
The French retail companies, among the most dynamic players in the Romanian market, will conduct, over the next five years, investments in excess of EUR 1 bln. with the aim of expanding and consolidating the chain networks, according to Nine O'Clock reports…
Romania: BCR, BRD, Raiffeisen– the Most Profitable Banks in H1
The banking industry remains one of the most profitable sectors of the Romanian economy. BCR, BRD – Groupe Societe Generale, Raiffeisen Bank are leaders in the Romanian banking system depending on the net profits registered in the first half of 2006, according to Nine O'Clock reports.…
Romania: Increasing Competitiveness for Agriculture in 2007-2013
Increasing competitiveness of Romania's agriculture and forestry is one of the main objectives included in the National Strategy Plan for the years 2007-2013, on which advanced negotiations are currently underway in Brussels, ACT Media news agency reports.…