Archive » May 2006 » 17 May 2006 The english news from 17 May 2006
Romania: CEC Q1 Net Profit Up at €3.5mil
The Romanian Savings Bank (CEC) posted Q1 net profit worth 12.7 million lei (3.5 million euros), up from last year, ACT Media news agency reports.…
Romania: Consumer Credit Cetelem Co. Plans 40% Increase in Loans
Consumer credit company Credisson Cetelem, re-branded last week as Cetelem Romania, plans to grant some 140 million euros in credit, around 40 percent more than last year, the company's Deputy General Manager, Daniel Boaje, ACT Media news agency reports.…
Romania Displeased w/Lack of Distinction w/Bulgaria
The decision of the European Commission not to give Romania an unconditional date for EU entry and clearly distinguish it from Bulgaria came as a disappointment for Romanians, local press reports showed, Sofia News Agency reports.…
Romania: EBRD Grants €15mil for Timisoara Heating System Upgrade
EBRD granted a loan of €15 million to Colterm S.A. structured as A/B loan with an EBRD A Loan of up to €10 million and a B Loan to a participating bank of up to €5 million for the upgrade of the heating system of the city of Timisoara. The total project cost is estimated to €21mil.…
Romania Must Strengthen Economy Before Becoming EU/US Partner
It is good to see that things have begun to change in Romania from the point of view of the fight against corruption, but it is crucial that the process continues so that Bucharest can have a sound and mutual partnership with its friends in Washington and Brussels, stated US Ambassador to Romania Nicholas Taubman in a speech delivered at the Academy of Economoc Studies in Bucharest, Nine o'Clock reports.…
Romania: Petrom Triples Q1 Net Profits
Petrom announced Q1 net profit increased against Q1/2005 level by 211 per cent, reaching RON 881 M (EUR 247 M), Nine o'Clock reports.…
Fitch: Emerging Europe risk is growing
Fitch Ratings says some risks are growing in emerging Europe on the back of rising inflation, widening current account deficits and political factors. This is one of the conclusions in "Emerging Europe Sovereign Review: 2006", published today, which looks at the economic and credit outlook in the region.…
Romania: Policolor losses at 148.000 lei
Romanian paint and varnish producer Policolor turned to a loss of 148,300 lei ($53,400 /41,200 euro) for the first quarter, from a 1.07 million lei net profit for the same period of 2005, despite rise in revenue, figures from the company showed on Tuesday.…
Bulgaria, Romania to Be Judged Separately, Barroso Says
Brussels will judge Bulgaria and Romania on their own merits, EU Commission President Jose Barroso said in Bucharest, the first leg of his trip to the two EU hopefuls, Sofia News Agency reports.…
Romania: Inflation Expected to Reach 6.8% by End of '06
The annual rate of inflation is expected to reach 6.8 per cent at the end of 2006, 1.8 per cent higher than the initial target, but the Governor of the National Bank of Romania (BNR), Mugur Isarescu, announced that the inflation target remains unchanged, Nine o'Clock reports.…
Romania: EC Report is 'Correct and Objective,' Says PM
The monitoring report of the European Commission regarding Romania is a "correct and objective" evaluation, highlighting the progress Romania has made of late, said Romanian Prime Minister Calin Popescu-Tariceanu, ACT Media news agency reports.…
Romania: Holcim Q1 Sales Up 15.8%
Swiss maker of construction materials Holcim registered in Romania in Q1:06 a 15.8 percent increase in sales from the same period last year, according to the group's Q1 activity report, ACT Media news agency reports.…