Archive » June 2006 » 05 June 2006 The english news from 05 June 2006
Romania: 15 Romanian Banks in Europe’s Top- 50
The list of the largest South-East European banks, classified mainly by the amount of assets on December 31, 2005, includes 15 Romanian, 10 Croatian, 10 Bulgarian and 5 Serbian banks, ACT Media news agency reports.…
Romania: PM Meets w/Director General of the European Anti-Fraud Office
The fight against corruption represents an objective of the current Government, Prime Minister Calin Popescu – Tariceanu has stated on the meeting with Mr. Franz Hermann Bruner, Director General of the European Anti-Fraud Office (OLAF).The Head of the Executive has presented the measures taken by the Executive to guarantee the justice independence. Prime Minister Tariceanu has stated that the Romanian authorities are preoccupied by reaching a high level of EU funds absorption, according to Government of Romania.…
Romania: Gazprom Partners with Local Firms
Russian Gazprom’s gas exporters Gazexport has sealed contracts with three Romanian state-owned gas companies, Romgaz, Transgaz and Conef. The contracts will provide Gazprom long-term access to gas shipping facilities in Romania, allowing the Russian firm to increase gas deliveries to Turkey and start gas export to Israel, according to The Diplomat Bucharest.…
Romania: Cefin Company - Investments of €9 mln in 2006
Importer of Iveco trucks and merchandiser of Pirelli tyres Cefin Romania will invest nine million Euro this year, including a new headquarters for its Eurobody bodywork plant. Cefin Romania now has seven branches countrywide covering technical services and spare parts. Its after-sales turnover is nearly 30 million Euro,according to The Diplomat Bucharest.…
Romania: Ikea Retail Increases Investments in Local Mkt
Self-assembly furniture giant Ikea intends to boost its manufacturing in Romania. Its local production firm Sweedwood is investing 35 million Euro in a production line in Gura Humorului, Suceava County, which will have an oak processing operation, according to Ikea press release.…
Romania: BCR’s Takeover to be Completed on July 21
The completion of BCR’s takeover by Austria’s Erste Bank der Oesterreichischen Sparkassen AG is expected by the end of July this year, informs a press release of the State Assets Capitalization Authority (AVAS). The Romanian government will publicly announce its final approval of the transaction within shortest time, after a series of amendments are included in the contract for the stake’s acquisition signed by AVAS and Erste Bank, ACT Media news agency reports.…
Romania: Effects of Fiscal Code on Business Environment
The business community already expects negative effects to be triggered by the new Fiscal Code text. Rural tourism prices will thus increase. Officials for the National Association of Rural, Ecological and Cultural Tourism (ANTREC) warns that, as of next year, higher prices will be paid for a stay in boarding houses, as the new Fiscal Code has eliminated all facilities that rural tourism companies benefited from, on grounds that they come against EU principles, Nine O'Clock reports.…
Romania: Transelectrica IPO to Take Place in June 14-28
The Initial Public Offering of Transelectrica will take place during 14 – 28 June 2006. 7.329.787 shares will be issued, with a face value of RON 10 and a subscription price of RON 16.8 per share.…
Romania: Indian-Romanian Cooperation in Energy
India and Romania will strive to identify areas of cooperation in the power and energy sectors when a top-level delegation from Bucharest arrives here on Monday. The delegation will be led by Romanian deputy trade minister Iuliu Winkler, according to Financial Express reports.…
Romania: The Calendar of Ratifications for the EU accession
The ratification of Romania and Bulgaria’s EU accession Treaty by Germany is no longer a concern for the authorities in Romania, yesterday announced the Minister of European Integration, Anca Boagiu, while returning from a visit to Berlin, Nine O'Clock reports.…
Romania to become EBI Shareholder Upon EU Entry
“On the day it joins the European Union – that is on January 1, 2007 - Romania will also become shareholder with the European Bank for Investments (EBI) and will participate in the decision-making process regarding the projects that receive EBI financing,” declared EBI president Philippe Maystadt, at the end of the meeting with Romanian Premier Calin Popescu-Tariceanu, ACT Media news agency reports.…
Romania: Fiscal Code Expected to Negatively Affect Businesses
The business community already expects negative effects to be triggered by the new Fiscal Code text, Nine o'Clock reports.…
Romania: Turkish Dogan Media Invests in Romanian Mkt
The biggest media group in Turkey, Dogan Media, has entered the Romanian market with a license for an entertainment channel, D TV, ACT Media news agency reports.…
Romania to Partially Privatise Defence Industry
Romania's defence industry will be partially privatised as of January 1, 2007, and what will be left under the state ownership will be smaller yet more flexible than now, Minister of Economy and Trade Codrut Seres said, ACT Media news agency reports.…
Romania: CEE Europe Increasingly Attracts Foreign Investments
In the next years ,Central and Eastern Europe will draw in substantial foreign investments that will be mainly directed towards the financial sector, real estate, the automotives sector, R&D and telecommunications, stated BCR executive president Nicolae Danila, ACT Media news agency reports.…
Romania: WB's Loans to Romania Total $5bn
World Bank executive director Jan Willem van der Kaaij visited Romania between May 31 – June 3, to discuss the WB projects for Romania, which ranks second in Europe and Central Asia by the size of the portfolio of projects, while ,since 1999, the WB is a committed partner for the development of Romania, with loans worth a total of $5 bn, ACT Media news agency reports.…
Romania: Democrats and Liberals Disagree on Reshuffle
Democrats are ready for restructuring and reshuffle but Liberals are still hesitant about it and try to delay the process as much as possible, Nine o'Clock reports.…
Romania: EU Conditionally Approves Mittal Bid for Arcelor
The European Union’s competition watchdog conditionally approved a hostile bid by Mittal Steel, the world’s leading steel maker, to take over Luxembourg-based rival Arcelor, Nine o'Clock reports.…