Archive » June 2006 » 06 June 2006 The english news from 06 June 2006
Romania: Bucharest Negotiates w/EIB a Credit Line
The City Hall of Bucharest is negotiating with EIB the opening of a credit line worth EUR 200 M, necessary to co-finance several municipal projects to be financed through structural funds, stated for Mediafax Cristina Parvulescu, the director of the Foreign Loans Management Directorate, Nine o'Clock reports.…
Romania: SIF Banat-Crisana Increases Stake in Biofarm
SIF Banat-Crisana reached a share of 10 per cent in the capital of the pharmaceutical company Biofarm, following several transactions carried on through the Bucharest Stock Exchange (BVB).…
Romania: Starbucks is Entering the Market in 2006
The coffee shop tends to become one of the trendy investments in Romania.In conjunction with their international operations, Starbucks company intends to inaugurate around 150 of its own coffee shops and 350 under license. At least one of these new coffee shops will be located in Bucharest, and its launch is slated by the end of the next year. The Starbucks will penetrate the Romanian market through the Greek company Marinopoulos, which in 2002 entered a strategic cooperation agreement with Starbucks regarding the expansion of the network across several European countries, according to Business Brokerage Romania.…
Romania: Banca Transilvania Opened an "Italian Desk"
Banca Transilvania and Monte dei Paschi di Siena Group opened an ITALIAN DESK, which function in Timisoara, within Iosefin Agency, located in 32, Tineretii Blvd. The objective for initiating the ITALIAN DESK project started from the desire of the two banking institutions to serve at the highest standards the representatives of the Italian businessman community in Timisoara and neighboring areas, by offering them specific banking products and services, according to Banca Transilvania press release.…
Romania: INAR Privatization Postponed
The Steering Committee of the State Assets Resolution Authority (AVAS) has decided to revoke the offer to sell shares in the research-development institution National Institute of Road Vehicles (INAR) located in Brasov, Bursa reports.…
Romania: Chinese Investments in Bacau
A delegation of Chinese businesspeople spent two days in Bacau at the invitation of the Bacau County Council. The guests investigated the opportunity to participate in the modernization and diversification of the Bacau International Airport and to become involved in high-tech production in the Bacau - Hemeiusi Industrial Park, Bursa reports.…
Romania: Investments and Transformations at E.ON Gaz
Distrigaz Nord, the natural gas distribution company for the northern part of the country, got a new name and a new logo: E.ON Gaz Romania. This is a further step in the integration of the company into E.ON Group, a process initiated last year, once the privatization contract was finalized, according to the E.ON Gaz Company reports.…
Romania: Siveco To Expand to the Middle East
Trade between Romania and the United Arab Emirates reached some 60 million USD in 2004, which is far below the real potential, according to participants in the Romania - Emirates Business Forum organized by the Chamber of Commerce and Industry of Bucharest and Siveco Romania, according to Bursa reports.…
Romania: Romtelecom Launches Closed Users Group service
CUG service (Closed Users Group) is the voice option allowing companies with multiple telephone lines or companies with common interest to form a group where discounted tariffs are applied. Discounted rates apply for all local/long distance calls in Romtelecom network (lines belong to Romtelecom business clients), according to Romtelecom press release.…
Romania: Staer International Estimates '06 Turnover at €40 Mln
Furniture producer Staer International Galati estimates a turnover of €40 million in turnover for this year, a 70 percent increase compared to the EUR 23.5 million in 2005 and for first time investments abroad, according to Staer International and BusinesRomania reports.…
Romania: Bankers Fear Tighter Measures for Mortgage Credits
The cen.bank’s launching for public debate of the issue of the continually rising prices for real estate assets and the announced plans to monitor this market with a view to tempering down mortgage credits in the eventuality of looming risks, foreshadows “the artillery’s getting ready to fire” for the tightening of the mortgage credit terms, considered the president of the Romanian Banks Association Radu Gratian Ghetea, ACT Media news agency reports.…
Romania: BNR’s Currency Reserves Down by €80 in May
The currency reserves of the National Bank of Romania (BNR) fell by EUR 80.3 M in May, to EUR 18.21 bln, the central bank announced, Nine o' Clock reports.…
Romania: Transilvania Grants 20,000 Loans to SMEs
Banca Transilvania credits with over 20,000 loans Small and Medium Enterprises (SMEs).…