Archive » May 2009 » 19 May 2009 The english news from 19 May 2009
Romania's BCR Asigurari de Viata increases business by 60% in Q1, to lei 35.2m
BCR Asigurari de Viata, owned by Austria's Vienna Insurance Group, posted gross premiums written of 35.16 million lei after the first three months of the year, 60 percent year-on-year hike, after the turnover advanced on all segments, announced the company today…
200,000 graduates to flood crowded labor market
More than 200,000 graduates will enter the job market this fall, half of which finalized their studies at economic and law faculties, medicine and pharmacy, IT and engineering. But the job supply for these majors is some 4,500, which means a ratio of over 20 applicants for one job, according to an analysis by Business Standard…
Time Warner Completes $241.5M Deal For 31% In Broadcaster CME
U.S. media group Time Warner Inc. on Monday said it completed a $241.1 million deal for a 31% stake in Central European Media Enterprises (CME), owner of Romania's media trust PRO TV. Under the deal, Time Warner received 19 million newly issued common shares of CME, consisting of 14.5 million shares of class A stock at $12 per share and 4.5 million shares of class B stock at $15…
Basescu: Romania is interested in European technology for new nuclear power station
Agerpres special correspondent Irinela Mica reports: President Traian Basescu on Monday told a working lunch he had with President of the French Republic Nicolas Sarkozy that Romania was interested in the European nuclear technology for building a second nuclear power station, said official sources at the Elysee Palace…
Solvency in the Romanian banking system slips to 12.03% in March, central bank announces
The solvency rate in Romania's banking system sloped to 12.03 percent in March from 12.34 percent at the end of last year, an effect of the higher risk provisions for non-performing loans, the central bank BNR said. The minimum solvency level is 8 percent, but the central bank is cautious and requires a 10 percent one…
Government threatens banks with overtaxation
The government headed by Democratic-Liberal Prime Minister Emil Boc is threatening bankers with overtaxation if they withdraw financing lines granted to their local subsidiaries, but representatives of the National Bank of Romania (BNR) are calming spirits by saying that such a "Robin Hood" penalty will not be applied. Yesterday, bankers leading the largest lenders on the local market were in talks…
Romania New Car Sales Dn 35.7% In Apr, Dn 50.8% In Jan-Apr
Romania's new car sales decreased 35.7% on the year in April, to 14,884 units and by 50.8% on the year in the first four months, to 44,558 units, according to the Romanian Association of Car Manufacturers and Importers (APIA). New car sales in April 2008 totaled 23,171 units, while sales in Jan-April last year stood at 90,565 units…
Gov't approves financing agreements for European projects worth 900 m euros
The Romanian Government has approved financing agreements for European projects to be developed in the agriculture field worth 900 million euros, Prime Minister Emil Boc announced on Tuesday. 'At this point, we have already signed financing agreements for European funds worth 900 million euros. Moreover, we have approved projects worth 1 billion euros since December 22, 2008, and until now,' Premier Boc said…