Archive » July 2006 » 11 July 2006 The english news from 11 July 2006
Romania: CEBank Warns Against Insolvency Risk
A Central European Bank report warned against the insolvency risk looming over the credit institutions that will continue to make massive disbursements in foreign currency, a threat that could affect Romania’s macroeconomic stability, ACT Media news agency reports.…
Romania: Dexia bank Drops out of CEC Race
Bucharest - French-Belgian group Dexia, with assets of €509 bln in late 2005, which competed for BCR last year, gave up plans to bid for the acquisition of CEC. The Belgians were discontent with the latest modifications operated on the privatisation strategy, and with the deferral of the process launched last year, Nine o’ Clock reports.…
Romania: Eurom Bank Shares Withdrawn from RASDAQ
Eurom Bank shares were withdrawn from transaction on the RASDAQ market of the BVB starting Monday, according to a decision taken last week by the National Commission for Assets (CNVM), ACT Media news agency reports.…
Romania: Real Estate GTC Invests €56 mil in Office Construction
Real estate developer Globe Trade Center (GTC), one of the most dynamic companies on the Romanian real estate market, will invest 56 million euros in the construction of two A-class office blocks, on a total area of 43,000 square metres, located in northern Bucharest, Ziarul Financiar daily wrote, ACT Media news agency reports.…
Romania: Bucharest-Ploesti Motorway to Cost €285 mil
The necessary funds for building the motorway connecting Bucharest to Ploiesti (southern Romania) amount to 285 million euros, the expropriation of some buildings in this area being financed by funds coming from the budget of the Ministry of Transports, Civil Engineering and Tourism (MTCT), ACT Media news agency reports.…
Romania: US Bechtel Sets Up Companies for Transilvania Motorway Construction
American Bechtel Co. will establish in the following three weeks the companies that are going to subcontract the works for the biggest infrastructure project in Romania, Transilvania motorway, ACT Media news agency reports.…
Romania: Romgaz Privatization Delayed
The privatization of Romgaz could be considered again after three years, as the government presently does not want to privatize the natural gas producer, according to Mihai Catuneanu, the chief of the Office for State Participations and Privatization in Industry (OPSPI), Bucharest Daliy News reports.…
Romania: CFR Modernizes Train Cars
Romanian railroad company CFR Calatori has launched a 180 million euro project for modernizing and renewing of the train car fleet, according to Bucharest Daily News.…
Romania: CEFTA Meets in Bucharest
The representatives of the Central European Free Trade Agreement (CEFTA) member-states meet today in Bucharest to establish the new depositary of the agreement, as a result of Romania and Bulgaria withdrawing from it after the accession to the European Union, according to Bucharest Daily News.…
Bulgaria, Romania Compete in Tourism Sector
Bulgaria and Romania have just started their rivalry in the tourism sector, French Le Petit Journal writes in an article on tourism in the two countries, Sofia News Agency reports.…
Romania: Tariceanu Invites Czech Businessmen to Invest
On today’s meeting with Mr. Vaclav Klaus, President of the Czech Republic, Prime Minister Calin Popescu – Tariceanu has launched an invitation to the Czech businessmen to come to invest in Romania, according to Romanian Government Press Release.…
Romania: Africa-Israel and NCH to Build New Mall in Bucharest
The companies Africa-Israel Europe and New Century Holding (NCH) will invest approximately 165 million euros in the construction of a 120,000 square meter real estate project on Timisoara Boulevard, according to Bucharest Daily News.…
Romania: ANRC Obliges Vodafone and Orange to Reduce Interconnection Tariffs
The companies Vodafone and Orange will be obliged to cut the interconnection tariffs, during September 2006-January 2009, by 11.3 per cent each in four stages, to 5.03 eurocents per minute, announced the National Regulatory Authority in Communications (ANRC), Nine o' Clock reports.…
Romania: Microsoft Set to Double Turnover in Romania in 3 Years
Microsoft Romania made 29% higher revenues in the 2006 fiscal year that ended on June 30th, compared with the previous fiscal year, according to Romanian Daily News and Ziarul Financiar reports.…
Romania: Quadrant Connections to Open Factory in Sibiu
British cable assembly manufacturer, Quadrant Connections, will invest in a production facility in Sibiu, in partnership with the German manufacturer Odu, according to Ziarul Financiar. ro reports…
Romania: Autoliv Starts Engineering Center in Timisoara
The worldwide leader in automotive safety systems - has opened an engineering center in Romania that will do electronics development for European clients, according to Romanian Daily News.…
Romania: Agriculture Problems May Block EU Funds, Basescu Says
Romania currently meets criteria for the EU accession, the only problem being the agriculture sector, Nine o' Clock reports.…
Bulgaria: Industrial Output Increases by 4.2% in May '06
Bulgaria's industrial output rose by 4.2 percent month-on-month in May after a revised 10.7 percent fall the previous month, statistics office data revealed.…
Romania Appoints New Deputy PM
A new deputy Prime Minister was appointed in Romania to replace George Copos who resigned last month after being accused of tax evasion.…
Romania: Inflation Slows to 0.15% m/m in June '06
The inflation rate slowed to 0.15% m/m in June '06.…