Archive » May 2006 » 08 May 2006 The english news from 08 May 2006
Romania: Foreign Investors Ask for Legislative Framework Improvement
Romania still needs to make further progress in the improvement of its legislative framework, infrastructure and with the social and public administration reform, was the recommendation made by the representatives of the Foreign Investors Council (FIC) present at the launch of the 2006 White Charter, ACT Media news agency reports.…
Romania: Electrica Muntenia Sud Stake Sale Worth Over €750 mil
The five companies selected for the final stage of the Electrica Muntenia Sud acquisition are due to submit final tenders by May 9, 2006, according to Dorin Mucea, deputy head of the Office for State Shareholding and Privatisation in Industry, Nine o'Clock reports.…
Romania: IMF Critical on Nat'l Economy Status
In a recent assessment report on the Romanian economy published late last week, the International Monetary Fund acknowledged the economic progress made by Romania, which the Fund sees as beneficial to the European integration process, but on the other hand it pointed out the weaknesses of the national economy, criticising the recent increase in budget deficit and current account deficit and the slower disinflation pace, Nine o'Clock reports.…
Romania: EBRD to Invest €50mil in New Projects in EEurope
The European Bank for Reconstruction and Development (EBRD) may finance with up to EUR 50 M a new investment fund with a total EUR 250 M capitalisation intended for projects in new EU member states and South-eastern Europe, Romania included, Nine o'Clock reports.…
Romania: Democrats' Deal w/Social Democrats Infuriate Coalition Partners
The Democrats have attracted the criticism of their ruling partners after making a deal in writing with the Social-Democrats from the Opposition exchanging the position of Ombudsman with a seat on the National Audio-Visual Council (CNA), Nine o' Clock reports.…
Romania: Gov't to Approve Additional Funds for SMEs Growth
The Government will approve in June extra funding for the development of small and medium sized enterprises in order for them to become competitive starting with January 1, 2007 on European markets, said vice prime-minister Gheorghe Copos, Bursa reports.…
Romania: Q1 Budget Surplus Exceeds €600 mln
The Public Finance Ministry made published the figures on the state of the budget after the first three months of the year, reporting a situation rather seldom met in Romania's post-1989 history, namely an over 600-million-euro budget surplus, accounting for close to 0.7 percent of gross domestic product (GDP), ACT Media news agency reports.…
Romania: New Law on Investments to be Adopted
The government will approve by the end of May the new Bill on Investments and, most probably, a new Privatization Act which both will be correlated with the strategy regarding the grant of State aid that will be adopted in the coming two weeks, ACT Media news agency reports.…
Romania: Five Tenders for Consulting in Romanian Post Restructuring
Bearing Point, ING, McKinsey&Company, Roland Berger Strategy Consultants and the consortium including Erst&Young, CAIB Corporate GmbH and NM Rothschild&Sons Ltd. submitted tenders to participate in the restructuring process in the Romanian Post Corporation, according to Minister of Communication and Information Technology Zsolt Nagy, Nine o'Clock reports.…
Bulgaria: German Landsebank Stops Financing Belane Power Plant Construction
German bank Bayerish Landsebank decided to stop financing the construction of Belane nuclear power plant, wrote the Total web portal of Skopje, energyobserver.com reports.…
Romania: Bank Austria Creditanstalt Forecasts 5.6% Economic Growth for '06
According to the latest study released by Bank Austria Creditanstalt (BA-CA), Romania’s economic growth is expected to attain 5.6% this year, as to the official target of 6%, ACT Media news agency reports.…
Romania: Sibiu Exchange Stockholders Agree w/BSE Merger
The shareholders in the Sibiu Monetary-Financial and Commodities Exchange (BMFMS) approved the merger into the Bucharest Stock Exchange (BSE), according to BMFMS chairman Teodor Ancuta, Nine o' Clock reports.…
Romania: Prospects for 2006 and 2007- EU report
In 2006 and 2007 real GDP growth is expected to pick up to 5.5% and 5.1% respectively. Assuming normal weather conditions, agricultural output should bounce back to the long-term average growth rate of around 3% in 2007 while in 2006 it would grow by around 4.5% due to the low base effect. The changes in the structure of industrial activity, accentuated by EU accession, and continued high energy prices will limit the growth rate of value added in industry to around 3% in both 2006 and 2007.…