Archive » June 2006 » 01 June 2006 The english news from 01 June 2006
Romania: Petrom Transfers Debt of Rafo SA to Calder Co.
Petrom announced that it transferred all debts on the Rafo SA refinery to Calder –A International BV, a Dutch registered company, ACT Media news agency reports.…
Romania: Moody's Maintains 'Positive' Outlook
Moody's International Rating Agency maintains a positive outlook on Romania although it says that in the case of the Gross Domestic Product (GDP) per capita the lagging behind has to be recouped.…
Romania: Greek Deputy Foreign Min to Attend Congress for Neogreek Studies
The Greek Deputy Minister of Foreign Affairs for the Greeks Abroad, Mr. Theodoros Kassimis will pay an unofficial visit to Bucharest, on the occasion of the 3rd European Congress for Neogreek Studies to take place in Bucharest in June 2-4, ACT Media news agency reports.…
Romania: Moody’s may improve the Rating
The economic policy of Romania has improved in the last few months, but the revision of the rating in a positive direction is conditional on the growth of the capacity of the economy to bear the possible shocks, declared an official from Moody’s Investors Service, Nine O'Clock reports.…
Romania: GE Money Buys 80% of RAEF
GE Money, financial division of General Electric group will take over from the Romanian American Enterprise Fund (RAEF) the majority shareholding in Motoractive Leasing, Ralfi (Estima Finance) and Domenia Credit for EUR 140 M, Nine O'Clock reports.…
Romania: Rompetrol to Invest over $30 mln
Rompetrol Group will invest this year over $30 million in developing its fuel distribution and storage network abroad as part of a strategy for dynamic increase and business expansion in Europe, the company informs. "We have built a regional brand staring from a well-known Romanian name for quality and attention to each customer, and we are now concentrating on making good use of it at a wider level. Rompetrol is the first Romanian company for which the reference business area is no longer local, but European, the first Romanian multinational corporation," says Rompetrol Chairman Dinu Patriciu, ACT Media news agency reports.…
Romania: Coal Production Exceeds 8.5 mln tonnes in Q1
The Romanian production of net coal (prepared coal) reached 8.503 million tonnes in the first three months of this year, out of which 669,264 tonnes of net mineral coal and 7.834 million tonnes of net sorted lignite, according to the data centralized by the National Statistics Institute, ACT Media news agency reports.…
Romania: Rompetrol Invests $140 mln in Petromidia
The Rompetrol Group intends to invest in the next two years more than 140 million dollars in the Petromidia refinery, continuing in this way previous projects that aim at reaching the European standards with regard to fuels and environmental protection, ACT Media news agency reports.…
Romania: Romania could become Independent Energetically
Romania could become, in the near future, as a result of national strategies, energetically autonomous, and could play an important role as energy producer in the Souther- Eastern European part, Iulian Iancu, chairman of the National Committee of the World Energy Council, ACT Media news agency reports.…
Romania: Agreements for €55 mln to Modernize Water Infrastructure
The country borrowed 55 million euro in loans from the European Investment Bank to modernize the country's water infrastructure, Government of Romania reports.…
Romania's Deputy PM Quits
Romania's Deputy Prime Minister George Copos, who is responsible for Business, Small and Medium Enterprises, has resigned his post, Sofia News Agency reports.…
Romania: Financial Market Prospects - NBG Analysis Report
NBG analysts, in the recently published bullentin on emerging markets, stated that Romania's current account concerns require a tighter fiscal policy noting that exogenous Shocks, combined with excess domestic Demand, keep upward the pressure on inflation leading the country to having to make several reforms in the finance sector in order to achieve 2007 EU entry.…
Romania: Transelectrica Posts €29 mil '05 Profit
The national electricity transport company Transelectrica last year reported a net profit of 29.2 million euros for a turnover of 476 million euros, ACT Media news agency reports.…
Romania: BCR To Assign RON 325 M Loans in the “Farmer” Programme
The Romanian Commercial Bank (BCR) won the auction organised at the end of April by the Ministry of Agriculture for the assignment of loans worth a total of RON 325 M, with an interest of 5 per cent, within the “Farmer” programme, for the co-financing of SAPARD projects, Nine o'Clock reports.…
Romania: Consolidated Budget Revenues at €9.23 bln in Jan-April '06
Romania collected revenues of 32.6 bln lei (€9.23 bln) to the consolidated state budget in the first four months of 2006, accounting for 10.1% of the country's GDP, said the Romanian Ministry of Finance.…
Romania: Budget Deficit to Reach 1% of GDP in '06- Bank Austria
Bank Austria Creditanstaldt, in a recently published report, estimated that Romania will register a consolidated state budget deficit of 1% of GDP in 2006, slightly higher than official’s deficit ceiling of 0.9% of GDP.…