Archive » January 2007 » 04 January 2007 The english news from 04 January 2007
January effect strikes again on the Bucharest Stock Exchange
Strong start of the year on the Bucharest Stock Exchange, as the first trading day generated yields of 5% for the BET benchmark index and 8.6% for the BET-FI, which gauges the performance of the SIFs, the most liquid shares on the market.…
Raiffeisen sees $4.5bn Russia ABS sales in '07
Russian banks and other financial institutions could sell at least $4.5bn in asset-backed securities (ABS) next year, raising funds to underpin explosive credit growth, Austria’s Raiffeisen Zentral-bank (RZB) said.…
Banks expand by over one thousand branches in 2006
Local banks opened over 1,100 new branches in 2006, thus marking it the year with the fastest expansion of banking networks. Compared with December 2005, the end of last year saw an approximately 33% increase in branches, according to data collected by ZF from the banks in the system. Although the number of banks witnessed a record increase, the new openings concentrated particularly in urban areas, where banks are attracted by clients with a higher business potential.…
German Financial Stocks Advance, Led by Allianz and Commerzbank
German financial stocks rose, led by Allianz AG, Europe's largest insurer, and Commerzbank AG, the country's second-largest lender, as investors speculated earnings growth in the industry will accelerate.…
Unicredit: Ba-Ca purchases 20pct of russian bank IMB
Unicredit, through Bank Austria Creditanstalt (BA-CA), responsible within the group for banking activities in Central-Eastern Europe, has finalised the purchase of 19.77pct of the International Moscow Bank (IMB) from VTB Bank (France) for a price of 395 million dollars.…
Breaking down of customs border to challenge the courier market in 2007
Two of the main players on the domestic courier market, DHL and TNT consider their business success after Romania’s accession to the EU will be partly subjected to the manner in which they will be able to cope with the breaking down of customs border and to adapt to new market conditions. Moreover, the domestic market is expected to go up in 2007 while supported by general economic growth fueled by expected larger investments in the majority of economic sectors. Prior to accession both companies poured millions of euro in developing their transport fleets and increasing the quality of their services. Both TNT and DHL declared themselves content with the financial results reported in 2006. We asked companies’ commercial managers for more details on the 2006 achievements and on the challenges ahead.…
Reports show Romania’s economy needs development
According to Eurostat, comparing with the largest EU economies the Romanian economy has to develop very much although it received the status of a functional market economy in 2004.…
Praktiker to open 14 units, by '08
Praktiker Romania, the local subsidiary of German do-it-yourself (DIY) chain Praktiker, targets to expand to 30 outlets by 2008 from the current 16 stores, the company said.…
Hochland Expects '07 Turnover Up 15%,y/y
Cheese producer, Hochland Romania, foresees its turnover for 2007 to increase 15% on annual rate, to EUR 50 million, due to investment in marketing, distribution and human resources, the company's CEO Sergiu Mititelu said.…
ANRC dissolves
PM Calin Popescu Tariceanu changed the statute of the Authority responsible for Communications, but he kept its president.…
Wizz Air offers free Budapest-Bucharest tickets
Discount airline Wizz Air began offering free tickets on the Budapest-Bucharest route yesterday, when rival SkyEurope announced it was halting flights until late March.…
Hill International Awarded Contract to Supervise Rehabilitation of Water and Wastewater Projects in Bucharest
Hill International (Nasdaq:HINT), the worldwide construction consulting firm, announced today that it has been awarded a contract from the Municipality of Bucharest to provide design supervision and construction supervision services in connection with the rehabilitation of sewerage and water supply projects throughout Bucharest. The four-year contract has an estimated value to Hill of approximately €5.5 million ($7.2 million).…
Moody's cuts 7 Hungarian bank long-term ratings to A2 after sovereign downgrade
Moody's Investors Service said it has downgraded the long-term foreign currency deposit ratings of seven Hungarian banks to A2 after the downgrade of Hungary's sovereign ratings on Dec 22.…
SocGen acquires 70.57 pct stake in 3rd biggest Moldovan bank for 18.4 mln eur
Societe Generale said it acquired a 70.57 pct stake in Moldova's third largest bank, Mobiasbanca, for 18.4 mln eur.…