Archive » January 2009 » 27 January 2009 The english news from 27 January 2009
Romanians pay 600 million euros to travel by plane
The local air travel market last year reached more than 600 million euros, which is double the level registered three years ago, following the about 20 percent increase in sales of traditional airlines and the booming low-cost travel segment, which was almost inexistent in 2005…
Companies fighting for 20% discount on rental fees
Many of the companies operating on the local market are renegotiating rental agreements for office space or shopping areas in which they are operating, in an attempt to cut costs, as liquidity management has became a must in this financial crisis. "We launched negotiations related to the rent we pay for several stores. They are no longer profitable…
Romanian Govt To Scrap Some 2,000 Jobs In Ministries, Govt-Run Agencies - Deputy PM
Romanian deputy prime minister Dan Nica said Monday after a meeting between governing coalition partners, social democrats and democrat liberals, that about 2,000 people from the central administration will be fired. He said those employees whose only daily concern is to have their coffee will leave, while those who have something to do will stay…
Bancpost shareholders agree to a 214m lei share capital hike to 662m lei
Shareholders of lender Bancpost, controlled by the Greek financial group EFG Eurobank, approved today a 214 million lei share capital injection, asking an extra 181.9 million lei from subscription fees, the board president Mihai Bogza told NewsIn. The bank's share capital could climb to 662.26 million lei…
Romania - Factors to Watch on Jan 27
Here are news stories, press reports and events to watch which may affect Romanian financial markets on Tuesday. A team of experts from the International Monetary Fund started a 9-day regular visit to Romania to assess the country's macroeconomic developments and policy plans by the centre-left governing coalition…
Entrepreneurs resort to layoffs: 1,300 people already affected
Eight of the top Romanian businessmen, each of them running businesses of more than 100 million euros and employing thousands of people, have announced that they have either made or will make 5 to 10% of their staff redundant, according to a ZF survey. The entrepreneurs considered are Viorel Catarama, Ioan Ciolan, Gheorghe Antochi, Micula brothers, Cezar Rapotan, Radu Timis, Ovidiu Buluc and Dan Sucu…
Basescu opts for borrowing EU funds with IMF supervision
Romanian authorities told the European Commission (EC) that it plans to borrow some €6-7 billion from the European Union (EU), and to sign a supervisory agreement with the International Monetary Fund (IMF), according to President Traian Basescu yesterday…
Frauds with Visa cards in Romania, 14-fold smaller than in Europe, official says
Frauds registered with Visa cards in Romania stands at 0.004 percent and is 14 times below the average recorded in Europe of 0.058 percent, according to data from Visa. In Romania, the dupery stands at 4 euro at each 100,000 euros traded with Visa cards, while in Europe the losses reached 58 euros for the same amount of money…
Romanian May Take Up To EUR7 Billion Loan From EU, Under IMF Supervision
Romanian President Traian Basescu said Tuesday he announced the European Commission that Romania plans to take a EUR6-7 billion loan from the EU, under the supervision of the International Monetary Fund. Basescu said in an interview with the public radio he does not agree with taking a loan from IMF, as Romania "can get cheaper EU money."…