Archive » May 2006 » 02 May 2006 The english news from 02 May 2006
Romania Supports Western Balkans for NATO and EU Integration
Romania has firm policy of supporting Western Balkans for NATO and EU integration, President Basescu said re-affirming Romania's support for the European and Euro-Atlantic integration of the Western Balkans' countries, on the occasion of a meeting of the heads of state in the Balkans, ACT Media news agency reports.…
Romania: Premio: First Investment Fund to Use Bourse Indices as Benchmarks
Premio, the new investment fund launched by investments trustee company CA-IB Asset Management, will place about 45% of its assets in SIF stock, investing the other 55% in companies included in the BET index, ACT Media news agency reports.…
Romania: Banks to Set up New Debt Collector
A new company for the collection of debts to the banking system might emerge on the Romanian market. The future entity, named Creditban, will be established following the proposition made by debt collector Urban & Partners and should address interested commercial banks and other credit companies, ACT Media news agency reports.…
Romania: IMF to Help Romanian Authorities w/Drafting 2007 Budget
A team of IMF experts will visit Bucharest in the second half of the year to assist the Romanian authorities with the drafting of the budget for both 2007 and on the medium term, announced representatives of the Finance Ministry, ACT Media news agency reports.…
Romania: Banks Hide Credit Costs Behind Floating Interests
Floating interests leave credit costs at the mercy of the market, said analysts, noting that mortgage credits are the only credits for which the banks mention “the criteria that determine the fluctuation of interests.” Under such circumstances, there is the need of imposing a standard for the information of the client about the change of the interest and the conditions under which this occurs, ACT Media news agency reports.…
Romania: Orange Telecom Posts Revenues Up 23% in Q1:06
Orange Romania reported Q1:06 revenues of EUR 239 M, up 23.3 per cent as compared to the corresponding period last year, Nine o'Clock reports.…
Romania: BVB Shareholders Approve Merger w/Sibiu Stock Exchange
The shareholders in the Bucharest Stock Exchange (BVB) approved the merger with the Sibiu Stock and Commodities Exchange (BMFMS), but the merger will have to be approved by the shareholders in the Sibiu Stock Exchange as well, Nine o'clock reports.…
Romania: Foreign Trade Up by 25% in Q1:06
The foreign trade increased by 25.6 percent in the first three months of this year, the exports exceeded the level registered in the similar period of the previous year by 21.9 percent, and the imports by 28.4 percent, said a release of the Romanian Ministry of Economy and Trade, ACT Media news agency reports.…
Bulgaria, Romania: EC: Entry Date Not Decided Yet
EU Commission spokeswoman for enlargement Krisztina Nagy told EUexpands that no decision has been taken yet on the potential date of Romania and Bulgaria EU accession has not been taken yet, Sofia News Agency reports.…
Romania: Banca Transilvania Estimates '06 Profit Up 20%
Banca Transilvania estimated for 2006 a gross profit of RON 132 Mn, up 20% y/y as compared to 2005. Total revenues and expenses estimated for 2006 at RON 515 Mn, respectively of RON 334 Mn.…
Romania: Trade Deficit Stands at €2.35bn in Jan-March '06
Romania's trade deficit amounted to 2.35 billion euros in FOB/CIF prices in the first three months of 2006, up from 1.57 billion euros during Jan.-March 2005, according to data released by the National Institute of Statistics.…
Romania: BRD Shareholders Receive pre-tax Dividends of €62mn
BRD-Groupe Societe Generale will grant its shareholders pre-tax dividends worth 215,276 million lei (some 62 million euros) from the profit collected in 2005. Thus, the gross dividend will be 0.3089 lei/share, up 23% against the previous year, ACT Media news agency reports.…
Romania: Lower Taxes Increase Foreign Investors' Interest
The profit tax of just 16 percent is encouraging multinationals doing business in Romania to let their profits be subject to taxes in this country, or even try transferring price schemes to move profits from other countries where taxes are higher than Romania, wrote Ziarul Financiar, ACT Media news agency reports.…
Romania: Stock Exchange Targets Net Profit of €7.4 mn for '06
The management of the Bucharest Stock Exchange has budgeted for 2006 a net profit of 7.4 million euros, almost five times higher than the figure reported in 2005, wrote daily Ziarul Financiar, ACT Media news agency reports.…
Romania: Alro Slatina Estimates '06 Net Profit Twice Higher Than Last Year
Alro Slatina aluminium producer projected for 2006 an increase of 15.2% in USD terms up to $636.7 Mn and a net profit of $93 Mn, two times higher than the one registered in 2005.…
Romania: Rompetrol Rafinare Estimates Lower Net Profit in 2006
Rompetrol Rafinare estimated the company's net profit to stand at $13.2 mn for 2006, about five times lower than a year-ago in USD terms.…
Romania: Erste Bank Will Finalize BCR Acquisition in June
Austrian Erste Bank der Oesterreichischen Sparkassen will finalise the acquisition of the Romanian Commercial Bank (BCR) on June 21 or before, Nine o'Clock reports.…
Romania: 8% of Petrom Shares to be Sold to Employees
The Ministry of Economy and Trade (MEC) worked out the draft of a governmental resolution which stipulates the sale of 8% package of Petrom shares intended for the employees directly to them, not through a company, declared the Economy Minister, Codrut Seres, Nine o'Clock reports.…