Archive » June 2006 » 02 June 2006 The english news from 02 June 2006
Romania: More than €10 bln in 2006 from Foreign Investments
The value of foreign investments in Romania it will be more than €10 bln in 2006, including the Erste Bank payment for its Romanian privatization target, the Romanian Commercial Bank (BCR)and the privatization of the Savings House (CEC). The total value of foreign investments exceeded 1.7 billion euro in Q1 of 2006, HotNews Romania reports.…
Romania: $100 mln in Carbon Black
Cabot Corporation Chemicals (U.S.A.) producer is planning to build a factory for the production of carbon black, said Deputy Prime Minister George Copos. The representatives of Capot Corp had a meeting at the Prefecture of the Prahova County Council (in Ploiesti city, 60 km from Bucuresti) to discuss the location of the production facility in the area, Bucharest Daily News reports.…
Romania: Offshoring Operations to Romania
The most important development in offshoring is not the drive for ever-lower costs, but the emergence of diverse new locations that support more sophisticated offshoring requirements, according to the EIU study "The new face of offshoring: closer to home?", sponsored by Hewlett-Packard, Bucharest Daily News reports.…
Romania: Net Avg Earning Up 8% in March
Gross average earning was RON 1101 in March. Net average earning was RON 828, by 8% higher than in the previous month. Growths of net average earning were registered in most of economic activities being determined by payment of monthly bonuses, indexations and production achievements, according to data released by the National Institute of Statistics.…
Romania: Banking Sector, under Austrians' "siege"
After the takeover of BCR by Erste Bank, the Austrians have come to own almost a third of the share capital of the banking sector in Romania. In five years, the Austrians increased their contribution to the Romanian banking capital from 3.2 percent in 2000 to 23.4 percent in end-2005, BCR excluded. If BCR were included, then the Austrians would reach 30 percent, ACT Media news agency reports…
Romania: Market research attracts foreign funds
Market research has attracted, over a ten-year period, foreign funds amounting to approximately 20 million euros in Romania. The Romanian research market was estimated in 2005 at 23.19 million dollars, meaning an increase of 26 percent as compared with the previous year, ACT Media news agency reports.…
Romania: United Arab Emirates to Develop Cooperation in Tourism and IT
Business relations and trade exchanges between Romania and the United Arab Emirates (UAE) are, at present, at a level that reflects neither their real potential, nor the two countries' common interests, honorary president of the Chamber of Commerce and Industry of Bucharest George Cojocaru on Thursday told a business meeting occasioned by the participation of the first official business delegation from the Emirates in the International Consumer Goods Fair, TIBCO 2006, ACT Media news agency reports.…
Romania: Capital Market can Develop by Collective Solution
The Romanian capital market, notably the stock exchange one, can develop, amid Romania's accession to the European Union, by a collective solution that should include the merger with small stock exchanges or with mature, well-developed bourses, chairman of the Bucharest Stock Exchange (BVB),ACT Media news agency reports.…
Romania's Restructuring Starts w/Deputy Premier's Resignation
The Romanian government’s “restructuring” started with the resignation of deputy premier George Copos, Nine o'Clock reports.…
Romania: Non-governmental Credit May Rise Over 100% in '06
The bankers who operate on the Romanian market are optimistic about the evolution of the non-governmental credit this year, but they expressed fear that the National Bank of Romania (BNR) would issue norms to restrict it, ACT Media news agency reports.…
Romania: Banca Transilvania to the Needs of the Small Entrepreneurs
Banca Transilvania launched toll-free number 0800 800 466 (0800 800 IMM), accessible from Romtelecom network Monday to Friday within 9:00-18:00. In this way, Banca Transilvania is the first banking institution in Romania to listen to the needs of small entrepreneurs, Banca Transilvania pres release.…
Romania: Landline And Internet Services In Timisoara
Atlas Telecom Romania launched in Timisoara the limited mobility landline services and Internet access. The investment was of circa EUR 6 million. Timisoara is the second city, after Oradea, where Atlas Telecom develops a network based on DECT (Digital Enhanced Cordless Telephony), which ensures the possibility of using landline outside the house, as in the case of mobile networks, BusinesRomania news reports.…
Romania: Spanish Investments reach €200 mln
Spanish investments in Romania reach some EUR 200 million, but the amount could be increased four to five times over if Spanish companies succeed in several ongoing and future privatization processes, BusinesRomania news reports.…
Bulgaria Receives €8 mln for Cross-Border Cooperation w/Romania
Bulgaria will receive a grant of EUR 8 mln from the European Union for its cross-border cooperation with Romania.…
Romania: Non-governmental Lending Remains Constant
Credits to companies and households amounted in late April to 68.124 billion new lei (RON), up 51.6 percent in nominal terms as compared to April 2005, ACT Media news agency reports.…
Romania: FinMin: Micro-firms to Continue Operating after 2007
Romanian Public Finance Minister Sebastian Vladescu said after the government approved the new draft fiscal code on Wednesday that the micro-firms will continue to operate after 2007 as well, ACT Media news agency reports.…
Romania: BNR Will not Limit Mortgage/Housing Loans
Romania's Central Bank (BNR) does not have in view imposing some restrictions for rising the interest rates for the mortgage or housing loans in order to limit them, said BNR first vice-governor Florin Georgescu on the occasion of a seminar devoted to the expansion of consumer crediting, Nine o'Clock reports.…
Romania: BCR Privatization Process Delayed
The Austrian firm Erste Bank which bought 62% of BCR shares announced that the completion of the privatization process provides initially for next month will be delayed, ACT Media news agency reports.…
Romania: BCR and CEC Privatisation Could Rise FDI to €9 mln
The total value of foreign direct investment in Romania could be around EUR 9 bln this year, compared to only EUR 5.2 bln. in 2005, including the money obtained by the state from the privatisation of BCR and CEC, stated the President of the Romanian Agency for Foreign Investment (ARIS) Ana Maria Cristina, Nine o'Clock reports.…