Archive » December 2007 » 06 December 2007 The english news from 06 December 2007
Gov't to alter vehicle first registration tax to meet EC's requirements
PM Tariceanu stated that the controversial tax could suffer technical amendments at most. While in Brussels yesterday, the Minister of Economy and Finances, Varujan Vosganian said that cabinet will issue, in the next two months, an emergency ordinance which will keep first registration with the requirements of the EC, the level of the fee remaining to be ‘substantially reduced”.…
E-commerce: online payment by card to double in 2008, to 70 million euros
The value of Romanian electronic commerce via online payment by card will double next year, to 70 million euros, and the number of transactions is estimated at 780 000, against the 463 000 operations in 2007, according to estimates of the e-commerce solution integrator GECAD ePayment…
Romania: Strong competition, credit restrictions hurt profitability of banking sector, says NBG Research
According to NBG analyst Panagiotis Karandreas, in 2006, in an environment of robust growth and despite a tighter monetary policy stance (the 1-month deposit rate rose by 125 bps to 8.75 per cent) and the adoption of a series of restrictive credit measures aimed at reining in the current account, credit activity accelerated.…
Net average salary in Romania up 4.2% month-on-month in October
Net average salaries in Romania went up 4.2 percent month-on-month in September; the best paid field was air transportation while people working in wood processing industry got the lowest salaries, a release from the National Statistics Institute reads. Net average payment stood at 1,084 lei in October.…
Parapharmaceutics market grows 20-25%
The parapharmaceutical products market is increasing more rapidly than the drug market, at an annual 20-25 percent growth pace. The drug market is slowing to an annual 15 percent increase, from 20 percent in 2006. The parapharmaceutics market is made up of over-the-counter products sold in pharmacies…
Raiffeisen Leasing starts operations in the Republic of Moldova
Raiffeisen-Leasing International (RLI) has commenced operations in the Republic of Moldova through the company in Chisinau - I.C.S. Raiffeisen Leasing SRL. The sole shareholder is Raiffeisen Leasing IFN SA (Romania). The initial share capital of I.C.S. Raiffeisen Leasing SRL is 500,000 euro.…
Turnover in industry increased by 10% in October
The volume of turnover in industry was 10% higher in October than in September, while the volume of turnover in retail trade, excepting motor vehicles and motorcycles, on the whole, dropped by 13.7%, according to the National Institute of Statistics.…
SIF growth of 3.6% pulls the market along
The Financial Investment Companies (SIF) seem to have repeated their previous session performance, when they closed with an increase of 4.5 percent. By mid-session today, the BET-FI index registered an advance of 3.6 percent, pulling the market along.…
Average net wage up by 4.2 pc in October
Air transport employees benefited from the largest wages, earning an average wage of RON 2,786 according to INS. The average net income has rose in October by 4.2 per cent up to RON 1,084, according to the data published yesterday by the National Statistics Institute (INS). If until now the financial intermediation employees benefited from the largest wages.…
Romania: BNR Governor borrows EUR 200,000 from Volksbank
Mugur Isarescu, Governor of the Romanian National Bank, has borrowed some EUR 200,000 from Volksbank, for a mortgage, according to the declaration of wealth by Romania’s top banker, Business Standard daily reports. According to the same declaration, Isarescu opted for a ten-year maturity, with the loan due in 2016…
PM Tariceanu presents Romanian economy opportunities to British investors
Prime Minister Calin Popescu-Tariceanu presented the British investors on Wednesday the investment opportunities offered by the Romanian economy as well as the developments of the Romanian business climate. Tariceanu, who is paying a working visit to the United Kingdom, discussed with 30 business executives of major British companies interested…
Romania, EU’s Most Corrupted Country-Global Watchdog
Romania is the EU country most affected by corruption, according to the 2007 Global Corruption Barometer published Thursday by the Berlin-based organization Transparency International (TI). The survey, conducted for TI by Gallup and reflecting the views of over 63,000 respondents in 60 countries, found that 33% of the Romanian respondents…
Romania's central bank sets 7.50% yearly reference rate for December
The reference rate went up to 7.50 percent per year in December, a release by the Central Bank of Romania reads. The reference rate in November stood at 7 percent. BNR's decision is in line country's recent macroeconomic and monetary evolutions.…