Archive » July 2006 » 18 July 2006 The english news from 18 July 2006
Romania: BCR and CEC's Privatizations Are Different, PM Says
Prime Minister Calin Popescu-Tariceanu stated that there is a big difference between the privatisation of Banca Comerciala Romana (BCR) and that of the Savings and Loans Bank - CEC, as the Government will analyse the bids submitted for the CEC majority stake in the light of the entire acquisition package and not only from the perspective of the price, ACT Media news agency reports.…
Romania: Nonferrous Metal Industry Stands Between Profit and Bankruptcy
Romania's nonferrous metal processing industry records significant growth as a result of spectacular rises in world prices for raw materials, while the quarrying industry swiftly heading for bankruptcy as Government subsidies for quarrying will be phased out in 2007, ACT Media news agency reports.…
Romania: Tourist Activities' Revenues at €3 mil in Jan-March '06
According to the Chairman of the National Authority for Tourism (ANT), Ovidiu Iuliu Marian, Romania recorded a surplus of some three million euros as regards the revenues from tourist activities in the first three months of the year while this surplus is expected to continue in 2006, despite the expected decline in foreign tourists' number, ACT Media news agency reports.…
Romania: Arcelor, Bamesa Invest €30 mil
European group Arcelor and Spain’s Bamesa will invest EUR 30 M in construction in Topoloveni (Arges County) of a service centre for steel products, which will manufacture products for the automotive and home appliance industry, Nine o' Clock reports.…
Romania: Office Blocks, Most Profitable Real Estate Investments
The Bucharest business in office blocks and big retail complexes confirms the evolution anticipated by experts, namely of becoming the most profitable investments in the real estate sector, ACT Media news agency reports.…
Romania: Cernavoda Unit 2 Receives Loan of €122 mil
The Ministry for Public Finances and the Romanian Commercial Bank (BCR) signed a loan contract of EUR 122 M, intended for the financing of construction works in Unit 2 of the Cernavoda Nuclear Power Plant, Nine o' Clock reports.…
Romania: Mobile Telephony Penetration Reaches 70% in '06
The rate of mobile telephony penetration will reach approx 70 percent of Romania's population, as compared to the 65 percent in March, when the four mobile phone operators had 14.13 million clients, stated the general manager of Nokia operations in Romania and Hungary, Greig Williams, ACT Media news agency reports.…
Romania: EU Grants €1.9 bn Funds for Railway Upgrade
The European Union will allocate in 2007 some 1.9 billion euros for the modernization of Arad-Drobeta-Turnu Severin and Drobeta-Turnu-Severin-Craiova railway sections, ACT Media news agency reports.…
Romania: SMEs Dissatisfied w/Current Business Environment
Most small and medium sized enterprises (SME) forecast for this year an improvement of economic indices. On the other hand, however, the number of SMEs which see the economic environment as favourable for business has decreased to a half as compared to last year, according to data in the fourth edition of the SME White Book released by the National Council of Private Small and Medium Enterprises in Romania (CNIPMMR), Nine o' Clock reports.…
Romania: NBG bids for CEC acquisition
National Bank is the sole Greek institution that has submitted an offer for the acquisition of the Romanian savings bank CEC (Casa de Economii si Consemnatuini). Note that EFG Eurobank with an official announcement said yesterday that it has decided not to participate in CEC’s privatization process.…
Romania: Energy Sector's Privatisation to be Profitable for Equipment Suppliers
The Romanian market of the materials used to make electricity grids and methane pipelines will score a spectacular development, during the years ahead, as a result of the privatisation of the energy sector, according to Rompres and ING News.…
Romania: Mutual Funds Market Growed 40 % in Six Months
Mutual fund assets jumped by 40 percent in the first six months of the year against the background of a strong entrance on the market of some banks' investment administration companies and despite the losses brought by the majority of funds to their investors in this period, according to Ziarul Financiar and ING financial news.…
Romania: New Fiscal Code Provisions Become Effective Jan '07
President Traian Basescu promulgated the Fiscal Code, the Bible of the Economy, whose provisions will be enforced as of January 1, 2007, ACT Media news agency reports.…
Romania: Volume of gross subscribed premiums reaches 1.2 million euros in 2005
The volume of gross subscribed premiums on the Romanian insurance market reached 1.2 million euros in 2005, exceeding the predicted level, as a result of a favorable macroeconomic context, according to Rompress and ING news.…
Romania: Consumer Price Index Rises 0.15 % in June
Consumer price index inched up 0.15 percent overall in June 2006, and the monthly inflation rate January 1- June 30 stood at 0.4 percent compared with 0.7 percent in the year-ago period, according to the National Statistics Institute.…
Romania: EBRD Grants €5 mil Loan for Waste Management Programme
The EBRD will lend the city of Bacau, in north-east Romania, €5 million to help improve its solid waste management programme. The loan is part of a Bank initiative to support such programmes across the country, especially using private sector expertise.…