Archive » December 2008 » 22 December 2008 The english news from 22 December 2008
Romania's Ferrari importer names new president Stefano Albarosa to replace health minister nominee
Forza Rossa, the importer of the Ferrari brand in Romania, welcomed Stefano Albarosa as its new president, after the former head Ion Bazac renounced his position following nomination as the country's health minister, according to a company release…
Schreiner, Volksbank: We've adjusted growth plans to 10%, because that's all we can finance
Volksbank, which climbed to the third position in the system, sees growth slowing down quite a lot next year, as it anticipates funding provided by its parent bank to halve. "We had funding worth 1.4 billion euros provided this year. In 2009, I expect about 600 million euros, half of which will go to refinancing the lines that reach maturity," …
Major companies announcing layoffs in 2009
Construction companies Hidroconstructia, Cominco and Vega '93, and the Rolem wood product maker rank top in a list of companies announcing massive layoffs in the first quarter of 2009, according to data released by county employment offices and centralized by Business Standard…
Lower VAT For Food Prod Scrapped From Romania's Final Governing Agenda
The Romanian democrat liberals and social democrats have put away from the final version of the governing agenda the proposal to lower the 19% value added tax, or VAT, to 5% for basic food products and to increase it to 25% for luxury items…
Minimum wage in Romania to up to 600 lei in January, exceed 870 lei by 2010, new labor minister says
The minimum salary in Romania could be raised starting with January 1 and is estimated to exceed by 20 percent the level of 730 lei agreed by the former government and labor unions for 2010 if Romania weathers the economic crisis, according to the new Labor Minister Marian Sarbu…
BNR data confirms that financing granted to banks is dropping
External financing attracted by Romanian banks dropped by E1.51 billion in the past one and a half months, due to the reimbursing of amounts due and rather little speed in attracting new resources from mother-banks…
Bankers contemplate rate cuts for fear of loan delinquency
Bankers are starting to consider ways of making loans cheaper, for fear that the high interest rates overlapping the depreciation of the RON might render clients unable to repay their instalments. Volksbank, which had positioned itself as one of the aggressive loan vendors, will cut the rate on already granted mortgage loans in euros by up to 1.5% starting February, while Banca Romaneasca is considering a similar move …