Archive » July 2009 » 28 July 2009 The english news from 28 July 2009
Romania's leu slips towards 4.21 against the euro, loses advance gained during the day
The exchange rate rose steadily towards the end of the session to close to 4.21 lei per euro after a significant climb of the national currency in the first part of the day, in line with the region, where currencies floated within larger ranges.…
Repatriation of banks' capital - risk to Romanian economy
The repatriation of banks' capital to parent companies may bare disastrous effects on the Romanian economy, says Central and Eastern Europe's largest brokerage company X-Trade Brokers in a press release. 'Romania rests extremely vulnerable to the risk of banks' repatriating their funds to the parent companies but, at the same time…
IMF mission to assess agreement arrives in Bucharest today
An IMF delegation, headed by Jeffrey Franks, arrives in Bucharest on Tuesday, for the first assessment of the stand-by agreement, approved by the board of the institution in May, and the discussions will be concluded on 10 August, IMF representative for Romania and Bulgaria, Tonny Lybek, told Mediafax.…
July economy: construction sector up while industry stagnates
The industry will stagnate in July compared to the previous month, while the construction sector follows an upward trend, despite the crisis, as summer is a traditional season for this activity, according to an analysis by the National Bank of Romania (BNR). The analysis centralizes the opinions of 420 company managers, who make up a representative national sample.…
Panic drives 10,000 companies to file for insolvency, with seven in ten requests coming from lenders
Three in four companies that requested the initiation of the insolvency procedure since the beginning of this year are lenders who could identify no faster solution for collecting their receivables and tried to put pressure on debtors in court, according to the latest statistics by the National Trade Register Office (ONRC).…