Archive » August 2009 » 06 August 2009 The english news from 06 August 2009

  • Petrom profit exceeds OMV's and analyst estimates

    Petrom, Romania's largest company, posted RON 923 million (€219 mln) in net profit at the end of the first half of this year, far above analyst estimates, with more than 60 percent coming from the company's financial result, meaning hedging, dividends from subsidiaries, and gains from the evolution of the exchange rate…

  • CEC Bank posted losses worth €310,000 in May-June

    The state-owned Bank registered losses worth RON 1.3 million (€310,000) in May-June, due to a rise in non-performing loans, and, implicitly, provision-related expenses. The lender posted RON 19 mln (€4.5 mln) in net profit in the first half of 2009, down 41 percent year-on-year…

  • Romanian Petrom Considers Shutting Down Doljchim Chemical Plant

    Romania's largest oil company Petrom (SNP.RO) might shut down its chemical plant Doljchim, unless it can find a solution to continue operations, Petrom chief executive Mariana Gheorghe said Wednesday. She said the company is considering either a temporary suspension in Doljchim operations or a permanent shut down…

  • Jeffrey Franks reiterates IMF flexibility towards Romania

    The use of the loan given by the International Monetary Fund is a concern of the politicians and businessmen. Therefore, during the talks held by the IMF delegation at the Public Finances Ministry (MFP) on Wednesday, Jeffrey Franks, who heads of the IMF evaluators' mission visiting Bucharest by Aug. 10…

  • BNR's new base scenario indicates an 8% drop in GDP

    It's official: the new scenario regarding the evolution of Romania's economy indicates an eight percent decline this year, according to a statement by the Vice Governor of the National Bank of Romania (BNR), Cristian Popa, for The Money Channel…

  • Romania's Transport Min: CFR Marfa Will Be Sold In 2010

    Romanian rail freight company CFR Marfa will be privatized in 2010 and other two state-owned railway companies CFR Calatori and CFR SA will be reorganized, Thursday said Transport Minister Radu Berceanu after talks with the IMF mission in Bucharest…

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