Archive » June 2009 » 04 June 2009 The english news from 04 June 2009
Negotiations for takeover of Petrochemicals Arges by Oltchim to be completed in a month
Negotiations between Petrom, the Economy Ministry and Oltchim for the takeover by the chemical plant in Ramnicu Valcea of Petrochemicals Arges will last for another month, declared for NewsIn the Oltchim general director, Constantin Roibu. Largest Romanian company Petrom confirmed at the beginning of May it is currently in talks with the Economy Ministry for the transfer of Petrochemicals Arges to the state…
First home project interest rates range from 5.5-23%
Some 20 banks have applied for the First home project, with interest rates ranging from 5.5 percent to 14 percent for euro-denominated loans and from 13-23 percent for loans in lei, according to government sources, quoted by Mediafax news agency. Furthermore, Prime Minister Emil Boc announced that the interest rates will vary from bank to bank…
Romanian Govt Extends Car Scrap Program
Romanian government on Wednesday decided to expand the country's car scrap program by including light commercial vehicles up to 3.5 tons and lifting number restrictions for car purchased by individuals, Prime Minister Emil Boc said. End May, Environment Minister Nicolae Nemirschi said he will recommend the two new measures be included in the second stage of the "Junk Car" program which started June 1…
Romania's private mandatory pension sector reports losses of lei 859m for 2008
Administrators of private mandatory pension funds (Pillar II) saw last year total losses of 859.04 million lei, three quarters of the amount being accounted for by Allianz, ING and Generali, informs a report published today by the pension market watchdog CSSPP. Pillar II players reported losses of 164.8 million lei in 2007…
Banks continue to tighten demand for collateral when lending to companies, central bank says
Requests for guarantees were revised in the first three months of the year by most banks in their analysis of the lending files for companies, for the fourth quarter in a row, on significant corrections of the prices of real-estate assets, a quarterly poll of the central lender BNR shows…
EC initiates new strategy to tackle employment impact of the crisis
The EU will make available EUR 19 bln of planned European Social Fund expenditure to support people hit by the economic crisis, a press release informs. The EU will also frontload funds and co-financing by Member States will not be necessary for 2009-2010. Together with the European Investment Bank Group and other partners…
Romania's Conflict With Sterling May Be Solved Amiably
The dispute between Romania's Government and Sterling Resources on the hydrocarbons explorations in the Black Sea may be solved amiably by signing a partnership between the Canadian company and local gas producer Romgaz, Thursday said Iulian Iancu, a deputy with the Social Democratic Party…
What businesspeople ask from EU lawmakers
Candidates at the top of the lists of the main parties to participate Sunday in the elections for the European Parliament have included some of the recommendations proposed by businesspeople and published by Business Standard in their future political agenda in Brussels…
High court convicts key player in pyramid scheme collapse to 10 years in prison, decision is final
Romania's High Court of Cassation and Justice sentenced Ioana Maria Vlas to 10 years behind bars in the FNI (National Investments Fund) file, a pyramid scheme which collapsed in May 2000, causing thousands to lose their savings. The court decided on March 9 to restart the trial of the recourse in the FNI file, where Ana Maria Vlas is charged with fraud and was sentenced to 10 years in jail in June 2008…