Archive » May 2006 » 23 May 2006 The english news from 23 May 2006
Serbia-Romania: to increase cooperation in energy
Serbian Minister of Energy and Mining Radomir Naumov and Romanian Minister of Economy and Commerce Ioan-Codrut Seres signed today an agreement on advancing and continuing cooperation between the two countries in the energy sector, which should result in the realisation of joint projects in the upcoming year.…
Romania: Cosmote Opens Largest Store in Bucharest
Mobile phone operator Cosmote opened the largest company store in Bucharest on an area of 455 sq.m. at American House on Titulescu Blvd, ACT Media news agency reports.…
Romania: EBRD and GED to Sell Stakes in Continental Hotel Chain on BSE
The European Bank for Reconstruction and Development (EBRD) and two financial vehicles of the Spanish GED Capital Development have started procedures to sell their stakes in the Continental hotel chain, a deal whereby the company's shares will be listed on the Bucharest Stock ExchangeThe stake put up for sale accounts for approx. 20% in the hotel chain, wrote the Ziarul Financiar, ACT Media news agency reports.…
Romania: Outflows from BSE Reach €30mil in March
Foreign investors withdrew from the capital market funds worth EUR 30 mln, more than they had brought in.…
Romania: UniCredit Forecasts 5,5% GDP Growth, 7% Inflation
Romania’s growth potential remains positive for 2006, with the economic growth rate estimated by Italian bank UniCredit analysts to reach 5.5%, lower than Romanian authorities’ 6% target. The GDP increase will be sped up by investments and consumption, although a negative impact is expected to come from the net foreign demand, UniCredit Group states in its latest quarterly macroeconomic survey, which monitors real economy trends in the New Europe area and macroeconomic prospects for the ensuing period of 2006, Nine O'Clock reports.…
Romania: Reconstruction Capital II Gains €40 mn from London Stock Exchange
Reconstruction Capital II (RC2), the first Romanian targeted investment fund listed on the London Stock Exchange, has earned another 40 million euros above the initial capitalization of 25 million euros, Ziarul Financiar daily quoted officials of the fund's administrator New Europe Capital, ACT Media news agency reports.…
Romania: Electroputere Craiova Posts Losses of 35.52 mil RON in '05
The financial results of Electroputere Craiova continued to go downwards over the past year as the company posted losses of 35.52 million RON, after the value of losses in 2004 stood at 16.95 million RON, Bursa reports.…
Romania: Retail Loans Rise up to 16% in 2001-2005
The percentage of the individuals in Romania that raised a retail loan has risen five times, from 3% to 16%, in the period 2001-2005, while the percentage of those who deposit their money in banks has decreased from 16 percent to 10 percent, according to a survey released by Bank Austria Creditanstalt (BA-CA), ACT Media news agency reports.…
Romania: EBRD Launches €1.5 bn Énitiative to Cut Energy Waste and Pollution
The European Bank for Reconstruction and Development launched a new initiative to cut energy waste and pollution across the 27 countries in which it operates, Nine o'Clock reports.…
Bulgaria, Romania Boast Economic Growth - Deutsche Bank Report
The recent analysis report of Deutsche Bank found that the economies of both Romania and Bulgaria are developing favourably. In the course of preparation for the planned EU membership, the two economies have become more productive and stable, said DB analysts mentioning that the international rating agencies have steadily upgraded the two countries over the past years and most of them are now rating both Bulgaria and Romania in the “investment grade” category.…
Romania: C/A Deficit Rises 59.6% y/y in Q106
Romania's current account deficit in Q1:06 rises 59.6% y/y to €1.56 bn, but the gap was completely covered by foreign direct investments, according to data released by BNR.…
Romania: EBRD to Launch Bond Worth €38.9 mln
The European Bank for Reconstruction and Development (EBRD) plans to launch within the next eight months a €38.9 mln worth bond issue in Romanian currency, announced the bank's vice president, Steven Kaempfer.…
Romania: Companies Improve Financial Indices, BNR Study Shows
The companies in Romania improved their financial indices, showed a study of the National Bank of Romania (BNR), regarding the role of non-financial companies in ensuring and maintaining financial stability, ACT Media news agency reports.…
Romania: HVB Bank and Tiriac Bank Reduce Interest Rates
HVB Bank and Tiriac Bank levelled nominal interest rates on their portfolio of foreign currency credits, concurrently with a cut down in interests by an average of 1% in Tiriac Bank and 1-4% in HVB, revealed data made public by the two credit institutions which are drawing close to completing their merger process, Nine o'Clock reports.…
Romania: Foreign Debt Up 0.67% y/y at end of March '06
Romania's foreign debt, long-term and medium-term, including government and private debt, amounted to €24.716 bn at the end of March risen by a net €165 million or 0.67% from the end of 2005, according to data released by BNR.…