Archive » May 2006 » 16 May 2006 The english news from 16 May 2006
Romania: Foreign Companies' Equity Up 54% in Q1
The value of foreign investments in the share capital of companies operated in Romania reached EUR 296.9 M in Q1, up 54 per cent as compared to the corresponding period of last year, according to data released by the National Trade Registry Office (ONRC), Nine o'Clock reports.…
Romania: EU Report Expected to Include Red Flags in Agriculture and Finance
The EU report due to be published today will include only four red flags - three for the agriculture and one for the finance, ACT Media news agency.…
Bulgaria, Romania: EU to Delay Entry Review
The European Commission will postpone until September or early October a final recommendation on whether Bulgaria and Romania should join the European Union next year when it reviews their progress on reforms on Tuesday, stated sources close to the matter, 'Dnevnik a.m.' reports.…
Romania: Real Estate Leasing Accounts for 1% Mkt Share
Real estate leasing could account for a market share of 1 percent this year, according to estimations made by representatives of the Romanian Leasing Companies Association (ASLR), after this type of financing accounted for only 0.4 percent of the overall ASLR market last year.…
Romania: WB Praises Financial Audit Institutions Progress
The Court of Accounts registered important progress in the process of institutional consolidation, by ensuring operational independence, as well through the implementation and development of financial audit, the World Bank representative, responsible with financial management in the public sector and relations with the Audit supreme insitutions Johannes Stenback Matsen stated, ACT Media news agency reports.…
Romania: Ministry to Put Motorway Up for Tender
The Ministry of Transport will put up for tender the up-keeping of the Bucharest - Pitesti and Bucharest - Constanta motorways, Transport Minister Gheorghe Dobre announced, ACT Media news agency reports.…
Romania: Societe Generale Group Q1 Net Income Up at €42 mil
BRD Groupe Societe Generale posted Q1 net profit of RON 150M (€42 M), up by 3.2 per cent compared to Q105, the bank announced, Nine o'Clock reports.…
Romania: Main Taxes Remain Unchanged, Secondary Taxes to Rise
The main taxes are maintained at the current value in 2007, however the secondary taxes will be modified starting next year - these are the main aspects of the Fiscal Code draft presented yesterday by the Minister of Finance, Sebastian Vladescu, Nine o'Clock reports.…
Romania: EU Report Includes Red Flags in Agriculture and Finance
The EU report due to be published today will include four red flags - three for the agriculture and one for the finance as well as it outlines the successful implementation of reforms and legislation in various sectors in an effort to harmonise with EU standards, ACT Media news agency reports.…
Bulgaria: Two New Funds Enter Bourse
Two funds organised by management company Standard Asset Management will start trading on the Bulgarian stock exchange from Wed, May 17, "Dnenvik a.m." reports.…
Romania: RomTelecom Expands to IT Field
RomTelecom demonstrated that it is not only a fixed-line telephony service supplier, with its over 50,000 clients of broadband services in less than a year, IT manager Vasile Voicu said, referring to RomTelecom's strategy of expansion, ACT Media news agency reports.…
Romania: Historical Centre's Rehabilitation Deferred Due to Lack of Bidders
The works for the rehabilitation of the Historical Centre have been deferred again, due to the absence, at the auction organised on Monday by the Municipality, of all of the nine Romanian and foreign construction companies that had bought the tender book for this project, Nine o'Clock reports.…
Romania: Neither VAT or Flat Tax Will Rise, Premier Says
Premier Calin Popescu Tariceanu said that neither the flat tax, nor the VAT will rise further to the expected going into effect of the new Fiscal Code, which is under public debate, and opines that an excessive waiting feeling has emerged around it, Nine o'Clock reports.…
Romania: Road Infrastructure Cost at €10.4bln
The total value of the projects regarding the upgrading, rehabilitation and development of the road infrastructure which the Transports, Construction and Tourism Ministry (MTCT) currently conducts or is preparing to carry out is approximately 10.4 billion euros, ACT Media news agency reports.…
Romania: Electromagnetica Posts Q1 Turnover Up 3%
Bucharest-based manufacturer of measurement & control equipment and tools Electromagnetica posted a Q1 net profit of 916,190 RON, up from 569,322 RON in Q1:05, Bursa reports.…
Romania: SMEs to Pay 16% Profit Tax Effective Jan '07
Small- and medium-sized enterprises in Romania will pay a 16% profit tax as of January 1st 2007, instead of the current 3% revenue tax, according to Finance Minister Sebastian Vladescu, Bursa reports.…
Bulgaria, Romania Must Fight Crime, Corruption, EC Says
Though both Bulgaria and Romania strive to meet the conditions for membership, they need to step up efforts in the fight against corruption and organized crime, the enlargement commissioner said, Sofia News Agency reports.…
Romania: EC Monitoring Report Delays Final Decision
The European Commission urged Romania to speed up reforms before its planned entry into the European Union on January 1, 2007 and delayed its final recommendation on its entry review. In a long-awaited progress report, the EU executive said Romania will have to wait until the last minute to find out whether it can join the European Union in 2007, or have to wait another year, as the European Parliament will reconvene in October 2006 to see if 2007 accession is feasible, ACT Media news agency reports.…
Romania: Pharmaceutical Mkt Q1 Sales Up 13%
Romanian pharmaceutical market reached 350 million euros in Q1 of 2006 in terms of acquisition prices, that is an increase by 13 percent over the same period in 2005, wrote daily Ziarul financiar, ACT Media news agency reports.…