Archive » January 2009 » 21 January 2009 The english news from 21 January 2009
Petrom to borrow E500 mln from OMV for investments
Amid the deepening of the financial crisis, Romania's largest company, Petrom, plans to borrow up to E500 million from its major shareholder, Austrian OMV gas and oil group, sources within the company told Business Standard. OMV's Chairman and Chief Executive Officer (CEO), Wolfgang Ruttenstorfer, said yesterday that the company's liquidity has shrunk, as the access to foreign financing was reduced…
Romanians' Income Can Hike In Real Terms - Erste Official
Romania remains one of the Central and Eastern European countries in which population's income can increase in real terms, the chief financial officer of Austrian lender Erste Group Bank, Manfred Wimmer, said during a press conference held Monday in Vienna…
Austrian investors are alarmed, but say economy will grow
Erste Bank, petroleum company OMV, construction supplies company Wienerberger and Vienna Insurance Group (VIG), four Austrian companies that hold strategic positions in Romania, rely on the resilience of demand for basic products from the regular clients to successfully make it through the crisis, even though their sales have already gone down…
Romania's leu could end year at 3.8 against the euro, depending on the budget, Raiffeisen deems
Romania's national currency, the leu, will embark on an upward trend in the following months, with the exchange rate slipping to 4.2 versus the single European currency in March and 3.8 at year-end, but the 2009 budget remains a key factor in this evolution, a study of lender Raiffeisen shows…
Some UniCredit Tiriac bank clients worth up to Euro30 mln
The minimum threshold to access UniCredit Tiriac's private banking services tripled this year to Euro300,000, as the bank is adjusting its strategy on this segment "to meet the higher degree of sophistication of high income clients," according to the lender's Private Banking Department head, Monica Ionescu…
Around 50 Cos E Romania To Lay Off Over 1,400 Employees By Mar
A number of 49 companies in Romania's eastern county of Neamt will lay off 1,419 employees by March, Mecanica Ceahlau and Ga-Pro-Co Chemicals dismissing the highest number of employees, according to the county's Employment Agency. The 49 companies total 4,538 employees…
Romania's BCR assigns 60% less credits in Q4 owing to central bank's lending rules
The volume of credits alloted by the country's largest lender by assets Banca Comerciala Romana (BCR) fell about 60 percent in the last quarter last year after the central bank BNR introduced new lending rules, said one of BCR's directors, Sorin Mititelu…