Archive » March 2009 » 10 March 2009 The english news from 10 March 2009
Cheap recruitment: Employers seek executives on job-hunting websites
Companies that hire executives are using recruitment websites or generalist newspapers in a bid to avoid costs involved by hiring recruitment or head hunting companies. Altex, the largest electronics and home appliances retailer on the Romanian market, has recently posted an ad for the position of financial manager on a recruitment website, while construction company Baumeister…
Romania Should Borrow Over EUR10 Billion
Romania could conclude a deal with the International Monetary Fund by the end of April. The deal should be valid through 2010 and the financing package from the European Union and the other international financial institutions should be larger than EUR10 billion, analysts said Monday…
Basescu: a foreign loan is a safety net for Romania
President Traian Basescu told lawmakers on Monday that Romania needs an external loan, which should be contracted in partnership with the International Monetary Fund (IMF), in accordance with EU regulations. He added that the loan is not needed to support the state budget or state debts, but stressed that the country has a current account deficit and private sector foreign debt amounting to €24 billion this year…
An IMF mission expected in Romania this week to tackle financing program, assess the economy
A mission of the International Monetary Fund (IMF) will arrive in Bucharest on March 11 to investigate for two weeks the economy and discuss a possible financing program for the country, according to the economic institution. The delegation headed by Jeffrey Franks will tackle with Romanian authorities a program suitable for the country, part of a multilateral financing package including the European Union and World Bank…
Petre Bunescu, BRD: "We don't sell potatoes, we lend money"
Banks cannot ignore the harshening of the lending terms and the heightened risk caused by the fact that Romania is "below the red line" of the group of investment grade countries, says Petre Bunescu (photo), BRD vice-president. "We don't sell potatoes, we lend money and messages like 'there needs to be plenty to go around' do not work here."…
Moody's Places Romania In Second Rating Risk Category
Rating agency Moody's grouped emergent states into four risk categories and placed Romania, Bulgaria and Croatia in the second category, that of countries whose credit fundamentals are resilient but which could be subject to some rating volatility should assumptions of support prove unfounded…
Romania takes first official steps for a foreign loan
Romanian authorities announced they have sent a letter of intent to the European Commission, applying for medium-term foreign financial assistance. The move comes after two months of heated debates on whether Romania should resort to foreign financing in the midst of worsening economic conditions…
Romania exports 80% of the textile output in 2008, mostly in Europe, official says
About 80 percent of Romania's textile production was exported last year, according to the executive president of the light industry union FEPAIUS, Aurelientu Popescu. Romanian exports go mostly to Europe and Egypt, according to Popescu, who added that 80 percent of them went to Europe last year. However, the union plans to focus on Canada and Asia in the next period…