Archive » May 2006 » 18 May 2006 The english news from 18 May 2006
Romania: Cosmote Extends €30 mil Loan to Cosmote Romania
Cosmote extended Cosmote Romanian Mobile Telecommunications SA a loan worth 30 million euros, read a release issued by the company.…
Romania: Pressure Maintained Towards EU Accession
Some two years ago, the autumn report of the European Commission regarding Romania was awaited with great interest and an essential question was waiting for an answer: Does Romania have or not a market economy? Well, what the Commission offered answered only partially the expectations, Brussels issuing such an ambiguous answer that everyone understood what EC wanted: Romania can be considered a functional market economy provided that it continues the reforms, etc. The latest Report of the European Commission submitted by EC President Jose Manuel Barroso, and the Commissioner for Enlargement, Olli Rehn, looks to a certain extent like the above story, Nine o'Clock reports.…
Romania to be Judged on its Own Merits, EC Officials Say
A day after the European Commission issued its report on Romania failing to state a clear accession date, the president and enlargement commissioner of the EU Executive told Bucharest it should not be worried about what others are doing, referring to Bulgaria which is still red-flagged in key areas such as fight against corruption and justice reform, Nine o'Clock reports.…
Romanian Authorities Approve Construction of Belene Nuclear Power Plant
The Romanian authorities accepted the construction of the nuclear power plant on the Bulgarian bank of the Danube river, at Belene, executive manager of the Environmental Protection Agency based in the southern Romania riverside county of Teleorman, Mihai Serban, said in a debate on the risks the construction of this objective in Romania's immediate neighborhood could trigger, ACT Media news agency reports.…
Bulgaria, Romania: S&P's: EU Accession Adds Importance to Fiscal-Monetary Policy Mix
Standard & Poor's Ratings Services said in a recently published report that the maintenance of stability-oriented fiscal-monetary policy mixes through the EU accession period is more important for the sovereign ratings on Bulgaria and Romania than the precise timing of EU entry.…
Romania: PwC: BCR Sale – 6th Largest Deal in European Financial Sector
The merger and acquisition enthusiasm in the European financial service sector in 2005 resulted in transactions totalling EUR 7.8 bln in Central and Eastern Europe alone, with the sale of the Romanian Commercial Bank (BCR) rated as the sixth largest one in Europe in 2005, Nine o'Clock reports.…
Romania: Pipe-Making Companies' Profits Rise in Q106
The local pipe-making companies posted forecast-beating profits in the first quarter of 2006, after last year they recorded a rise in financial results, wrote Ziarul Financiar daily, ACT Media news agency reports.…
Romania: EOS Consortium to Build Wind Power Generator in Constanta Port
EOS Consortium, consisted of one Romanian company and three companies from Switzerland, won the tender for the leasing of 11 platforms located in the Black Sea Constanta Port enclosure, where it plans to build a wind power generator, Bursa reports.…
Romania: Isarescu: Romania Might Join the Euro zone in 2012-2014
Romania might join the Euro zone in 2012 – 2014, Central Bank (BNR) Governor Mugur Isarescu stated at a seminar organised by ‘Ziarul financiar,' Nine o'Clock reports.…
Romania Faces Challenges on Energy, World Bank Official Says
World Bank Country Manager Owaise Saadat for Romania talked about the importance of the conference being organized on energy which is extremely relevant since the global energy sector including that in Europe is facing its greatest challenge though he said he won't call it a crisis.…
Romania: Mutual Funds Assets Up 4.5% in April '06
The assets of mutual funds increased in April by approximately 4.5% or €6 mn due to the launch of three new funds, but also due to net inflows from investors, according to data provided by the National Union of the Organization for Collective Investment (UNOPC).…
Romania: Mittal Steel Galati Invests $59mil in Plant Upgrade
Mittal Steel Galati invested 59 million USD in the upgrading and re-engineering of furnace 5 of the steel plant, the biggest operational furnace in Romania with a capacity of 5,500 tonnes per day, the company informed, ACT Media news agency reports.…
Romania: Loans in RON More Expensive in April
Bank loans extended in Romanian RON currency were still expensive in April due to the Central Bank's sterilisation, daily Ziarul Financiar reported, ACT Media news agency reports.…
Romania: Agip Oil Co. Posts '05 Double Net Profit
Agip Romania, the local subsidiary of the Italian oil giant Eni, posted a net profit of 1.22 million euros at the end of 2005, twice more than in the previous year, ACT Media news agency reports.…
Romania: Gov't Drops Price Control in Mining Sector
The Romanian government has decided to drop the price control for products and services in the mining sector, leaving the sector open to a more market-oriented, more economicly efficient management.…