Archive » February 2009 » 04 February 2009 The english news from 04 February 2009
Procter & Gamble invests 50 million dollars in Urlati and creates 150 jobs
Procter & Gamble, the biggest player in the non-food consumer goods industry, will invest 50 million dollars by the spring of 2010 in the first stage of the construction of a factory that will make shampoo and other hair care products in Urlati, Prahova County…
BVB registers record lows on a daily basis
The total value of companies listed on the Bucharest Stock Exchange (BVB), with the exception of Erste Bank, dropped yesterday below €5 billion, the lowest level in four and a half years. In the summer of 2007, BVB's capitalization amounted to €30 bln…
Romanian Ctrl Bk To Gradually Ease Monetary Policy
The National Bank of Romania, or BNR, will cut the key rate in several steps, of 0.25 percentage points, along with reductions in the minimum required reserve ratios, Lucian Anghel, chief economist within Romanian largest bank BCR, said Tuesday…
Romania wins the litigation with Ukraine over the Serpent Island
The International Court of Justice (ICJ) unanimously decided today that the continental shelf around the Serpent Island also known as Snakes Island and located in the Black Sea will not affect the border between Ukraine and Romania, alloting the latter 80 percent of the surface requested…
Asmita Gardens apartments revalued downwards by 10,000 euros
The value of apartments part of Asmita Gardens project, developed by India's Asmita company in partnership with Britain's Charlemagne on the banks of Dambovita, downtown Bucharest, was reassessed downwards by around 10,000 euros for each housing unit, in the first official evaluation that indic ates a drop in the prices of Bucharest's old apartments…
Lower car sales lead to fuel market plunge in 2009
Major operators on the fuel retail market expect a significant drop in consumption this year in Romania, due to the economic crisis, which has affected the overall industry and especially the auto market. LukOil Romania General Manager, Constantin Tampiza, told Business Standard that the local fuel market dropped 18 percent in January and that he estimates a 10 percent decline in sales by the end of the year…
IMF gauges Romania's economy could face recession this year
The International Monetary Fund estimated that Romania's economy, brutally hit by the economic downturn, could witness recession this year and start to recover only at yearend or at the beginning of 2010. The IMF fails to present any numbers on the evolution of Romania's gross domestic product (GDP) this year, but argues the prognosis was made after the rapid deterioration of the economic indicators in the last quarter of 2008…
Romanian Ctrl Bk Rate Cut Impact Deemed Modest
Romanian central bank's decision to cut the key rate will not have a significant impact upon inter-bank interest rates that will have been slashed more aggresive if the central bank would have reduced the minimum required reserves ratios for leu liabilities, economic analysts said Wednesday…