Archive » May 2006 » 15 May 2006 The english news from 15 May 2006
Romania-Russia sign 50 million-cubic-metre gas supply contract
Romanian Minister of Economy and Trade Codrut Seres and Deputy Chairman of Russia's Gazprom company Alexander Medvedev announced in Bucharest having signed a 25-year supply contract of 50 billion cubic metres of natural gas. Romgaz and Gazprom specialists are now expected to agree on the technical details.…
Romania: EC suggests conditional accession on January 1, 2007
One of the most significant aspects of the European Commission’s country report due for May 16 will be the exclusion of the combat of corruption from the list of the issues which Romania should promptly remedy. Such progress truly paves Romania’s way towards accession on January 1, 2007. The fight against corruption and the reform of justice were the main hindrances on the way of Romania’s due accession.…
Romania-Bulgaria: Jose Barroso-Olli Rehn to visit capitals on May 17
European Commission president Jose Manuel Durao Barroso and European Commissioner for Enlargement Olli Rehn will visit Romania on May 17, after the EC will present to the European Parliament its assessments of the progress made by the two accession hopefuls, on May 16.…
Romania: EU Forecasts Lower Economic Growth and Wider Deficits
Romania’s budget deficit calculated according to the European Standards ESA 95 will rise from 0.4% of the GDP in 2005 to 2.3% in 2006 and 5.4% in 2007, according to the European Commission’s preliminary spring economic forecast, ACT Media news agency reports.…
Romania Officially Discontinues Talks w/IMF
Romania has no plans to resume talks with the IMF in order to complete the assessments of the stand-by agreement before the expiry thereof in July this year, informed an IMF report on the institution’s yearly macroeconomic consultations with the Romanian authorities, ACT Media news agency reports.…
Greece: ATEBank Plans Takeover of Romanian Bank
ATEBank might take over a Romanian or Serbian bank before the end of the year, as part of the strategy of operation expansion, stated the bank deputy CEO Panagiotis Varagis, according to sources close to the matter quoted Nine o'Clock.…
Romania: Gazprom Interested in Romgaz Privatization
The Russian natural gas giant, Gazprom wants to take part in the privatisation of the Romanian natural gas producer, Romgaz, whose procedures are to be established and published by the Romanian Government in the following interval, Nine o'Clock reports.…
Romania: UniCredit Assets Up 52% in Q1
UniCredit Romania’s assets grew in Q1 by 52 per cent compared to March of 2005, to EUR 632 M, while after tax profit reached EUR 2.7 M having grown by 127 per cent, Nine o'Clock reports.…
Romania: SMEs to Pay 16% Tax Starting Jan '07, FinMin Says
The Romanian small- and medium-sized enterprises (SME) will pay 16 percent profit tax from January 1, 2007, up from the current 3 percent, announced Public Finance Minister Sebastian Vladescu, ACT Media news agency reports.…
Romania: Fitch Reaffirms BRD-Group Societe Generale 'BBB-'
Fitch reaffirmed the ratings of BRD- Groupe Societe Generale, indicating that the improvement of one of the qualifiers depended upon the evolution of Romania’s sovereign rating. Fitch confirmed the ‘BBB minus’ – the qualifier that reflects the likelihood for default (Issuer Default Rating), and retained the short-term rating of ‘F3’, Nine o'Clock reports.…
Romania: Raiffeisen Bank Receives Approval for 2 Mutual Funds
Raiffeisen Asset Management, Raiffeisen’s company specialized in the management of investments, obtained the authorization of the National Securities Commission for two mutual funds: Raiffeisen Benefit and Raiffeisen Prosper, ACT Media news agency reports.…
Romania: FDI to Slow Down to €5 bln in '07
The foreign direct investment in Romania is expected to go up to €8 bln this year, as a result of the privatisation of major companies such as Banca Comerciala Romana, but to significantly decline in 2007 to EUR 5 bln, Nine o'Clock reports.…