Archive » May 2006 » 31 May 2006 The english news from 31 May 2006
Romania: BNR did not Forecast Real Estate Price Collapse
After several officials for the National Bank of Romania (BNR) cautioned last week on the risk of a downward price correction in the Romanian real estate market, adviser to the BNR governor Adrian Vasilescu yesterday tackled the topic and mentioned that the central bank had not forecast a collapse of the market, but only cautioned on this hazard, Nine O'Clock reports.…
Romania: Otopeni Flyover, Opened for Traffic
Two years after the start of construction works, the flyover within the area of the International Airport Henri Coanda, Otopeni, was opened yesterday morning for road traffic, shortly after midnight, in the presence of the Minister of Transport, Constructions and Tourism, Gheorghe Dobre, after the constructors had finalised the last resistance tests, Nine O'Clock reports.…
Romania: Cosmote Headcount Reached 500
Cosmote Romania announced, six months after its launching in Romania, the increase by more than 25 per cent of the number of employees, from 400 in December 2005 to over 500 employees at the end of May 2006, informs the company’s communiqué, Nine O'Clock reports.…
Romania: RomTelecom Posted Q1 Profitability
Romanian landline operator, RomTelecom disclosed in the first quarter of 2006 an impressive increase in net profits, respectively of 43.5 per cent, having reached EUR 18.8 M, despite a declining top line, OTE Group’s Q1 financial report reads, Nine O'Clock reports.…
Romania: Vodafone Romania Reports Strong Financial Performance
Vodafone Romania announced key performance indicators for the fiscal year April 1, 2005 – March 31, 2006, as reported yesterday by Vodafone Group Plc. Vodafone Romania registered 1,361,483 net additions in the fiscal year 2006, for a total of 6,383,846 customers. In the quarter ended March 31, 2006, Vodafone Romania added 252,007 customers, Nine O'Clock reports.…
Romania: France will Ratify Romania's Entry in the EU
Romanian President was assured by French President that Bucharest would have no accession problems with France and Germany. Basescu warns the problems might be with the efficiency of the Romanian Government, Nine O'Clock reports.…
Romania: Meeting of the Executive Committee for European Integration
The European Integration Committee (CEIE) has established the calendar of necessary measures to remedy the problems identified through "red" and "yellow" flags so that Romania joins the EU on January 1st 2007, according to the Government of Romania.…
Romania: Black Sea Forum for Dialogue and Partnership Summit
The Black Sea Forum for Dialogue and Partnership is a Romanian initiative, aimed at offering a framework for an open dialogue and interaction, favourable for launching a process of reflection on the future and the identity of the region, ACT Media news agency reports.…
Romania: Foreign Trade of Goods in Q1 2006
Exports FOB achieved in the first quarter of 2006 amounted to € 6212,6 million, by 21.9% more than in the first quarter of 2005.Value of exports to the European Union countries (EU-25), in the first quarter of 2006,as compared to the first quarter of 2005, increased by 18.8%. Weight of exports to the European Union countries in total exports was 68.5%, according to National Administration of Customs.…
Romania: Imports Grow 24.6% in Jan-April '06
Romania's CIF imports were worth over 11.487 billion euros (10.603 billion euros in FOB prices) January through April 2006, up 24.6 percent from the same period in 2005, the National Statistics Institute said. Six of the 22 imported goods sections in the Combined Nomenclature cover 76.1 percent of the total imports, ACT Media news agency reports.…
Romania: First Eastern European Jewelry Trade Center
Diamond Gold International Jewelry Center will open in Bucharest in two days' time as a first shopping center exclusively devoted to retail and wholesale trade in jewelries of precious stones and metals. The center will house permanent stalls of big jewelry market operators from Italy, Turkey, Sri Lanka, Israel, Armenia, Canada, France, the US and Columbia, ACT Media news agency reports.…
Romania: Evolution of Economic Activity April-June 2006
According to the estimations expressed in April 2006 by the managers of the companies, for the next three months, in comparison with those three previous months, it is foressen a growth of activity in industry, construction, retail tradeand services, according to the Press release of the Romanian National Institute of Statistics.…
Romania: Economic Commission Votes Against Lottery's Privatization
The draft law regarding the privatization of the national lottery and printing house was rejected with 7 votes against, 6 in favor and one abstention, on grounds of lack of representation. “We rejected the law as nobody from the Finance or Justice Ministries came to present and support it,” the chairman of the Economic Commission Mihai Tudose (PSD) ACT Media news agency reports.…
Romania: Eximbank Signs Cooperation Agreement with Korea Eximbank
Romanian Export Import Bank Eximbank SA signed on Tuesday a Cooperation Agreement with Korea Eximbank - The Export Import Bank of Korea, a framework document offering the two sides the possibility to develop operational cooperation on concrete projects. Romania’s Eximbank SA president Carmen Radu and Korea Eximbank president Dong-Kyu Shin signed the agreement, ACT Media news agency reports.…
Romania: Macroeconomic Balance and Solid Finances Necessary for EU Accession
The European Union integration would catch Romania unprepared if it does not succeed in consolidating its financial sector, attracting more foreign investments and establishing a macroeconomic balance, representative of the World Bank in Romania Owaise Saadat said on the occasion of the Emerging Europe forum that got underway in Bucharest, ACT Media news agency reports.…
Romania: Flat Tax Boosts Insurance Market
The introduction of the flat tax has boosted Romania's insurance market, which will reach 4-5 billion euros in 2010. In 2005, the insurance market stood at 1.22 billion euros, and reaching the level estimated by the CSA president entails an annual average growth rate of some 40 percent of the market,ACT Media news agency reports.…
Romania: Romanian-Dutch Grandemar co. Allocates €3 mil in Investments
The Romanian-Dutch company Grandemar in Cluj-Napoca (central Romania) has earmarked 3 million euros for investments this year, ACT Media news agency reports.…
Romania Wants to Have 2007 Confirmation in June
Romania aims to receive a confirmation of the January 2007 target date during the meeting of the European Council in June, the country's justice minister announced in Sofia, Sofia News Agency reports.…
Romania: Rompetrol Group to Invest Over $30 mil in Network Expansion
Rompetrol Group plans to invest this year over $30 million in developing its fuel distribution and storage network abroad as part of its strategy for business expansion and power increase in Europe, said the company.…
Romania: Tender SA Negotiates Sale of Ardaf Stock
Tender SA officials are negotiating over the sale of the stake held by the company in Ardaf Cluj-Napoca, which accounts for 70.69 per cent of the equity, deputy Chairman of the Tender SA Board of Directors Tiberiu Tender announced, Nine o'Clock reports.…
Romania: WB: Romania Must Face Challenges of Single Mkt
Romania must be prepared to cope with the challenges of the single European market, irrespective of whether it accedes to the European Union in 2007 or 2008, said the World Bank Director for Romania, Owaise Saadat, during the seminar “Emerging Europe – Investment Summit,” Nine o'Clock reports.…
Romania: Triumf Construct Posts 8.7 mil lei '05 Profit
Triumf Construct SRL in Bucharest posted over 8.7 million lei in gross profit in 2005, when its turnover stood at 32,877,988 lei, ACT Media news agency reports.…
Romania: “Proprietatea” Fund Changes Strategy
The new director of the Fund “Proprietatea,” Alexandru Paunescu, announced that the institution that he manages will change its communication strategy, after the former chief, Nicolae Ivan, was dismissed being accused by Premier Tariceanu of the fact that he made declarations to the media which affected the image of the Fund, Nine O'clock reports.…