Archive » November 2006 » 13 November 2006 The english news from 13 November 2006
Greece: Veterin Participates in Antibiotice Iasi Privatization
Veterin, a pharmaceutical company listed in the Bucharest Stock Exchange, announced its partication in the privatization race for Antibiotice Iasi in Romania which pertains to the sale of 53,0173% of its share capital, according to AVAS statement.…
Romania: Siemens Posted a Turnover worth €290 mln Jan-Sept'06
German group Siemens, one of the leading worldwide players in the industry sector, posted a turnover worth 290.3 million euros in Romania in the 2006 fiscal year ending September 30, a 21% increase against the same time last year, Ziarul Financiar.ro reports.…
Romania: Government Proposes Extra Supervision for Financial Conglomerates
Under a bill adopted by the Government, credit institutions, insurance and re-insurance companies, broker and investment management companies standing under the umbrella of a "financial conglomerate" will be subject to extra supervision, starting next year, according to Rompres quoted by ING Financial News.…
Romania,Bulgaria: EU Accession Fuels Greek Bank Expansion
Taking advantage of their geographical proximity and knowledge of the region, Greek banks have found a fertile backyard for expansion in the Balkans over the past decade, a trend likely to intensify with EU entry for Bulgaria and Romania, according to Turkish Press.com reports.…
Romania: Libra Bank Supplements its Share Capital by €3 mln
Libra Bank’s Board decided to increase the institution’s share capital by 10.5 million lei (3 million euros) to 84.5 million lei (24 million euros), by the issue of 105 million fresh shares with a face value of 10 bani, said a bank official , ACT Media news agency reports.…
Romania: Banca Italease Eyes Romstal Leasing
Banca Italease administrator-delegate Massimo Faenza announced on Thursday that the financial company represented by him is “insistently” eying Romstal Leasing, informs the electronic version of the daily “Il Giornale,” quoted by BankNews.ro, ACT Media news agency reports.…
Romania: Secured Bank Deposits Stood at 57.9% of the Total in Q3
On September 30, bank deposits secured by the Bank Deposits Guarantee Fund (FGDSB) accounted for 57.9% of the total, as to 51.5% at mid-year, ACT Media news agency reports.…
Romania: Foreign Banks Plan Setting Up New Branches
Bank of Cyprus, the strongest Cypriot bank on the retail segment, plans to open a branch in Bucharest somewhere in the first quarter of 2007, announced Andreas Eliades, the institution’s chief executive officer, ACT Media news agency reports.…
Romania: Privatization Procedures Will be Completed by 2008
Teodor Atanasiu, the president of the Authority responsible for State Asset Resolution (AVAS), declared in an interview for the financial supplement of 'Adevarul' daily newspaper, that he maintains the proposition made when he took the office, which was that 'the end of 2007 will also be the end of privatisation process,' Nine o' Clock reports.…
Romania: Bourse Capitalization Might Reach € 100 bn in 2020
Bourse capitalization might reach 100 bn euros by 2020, that is one third of the GDP, president of the Upper House Budget & Finance Committee Varujan Vosganian told a conference titled “Capital market after accession” , ACT Media news agency reports.…
Romania: Iproeb Posts 9-mo Net Profit of €3.34m
The Rasdaq-listed optic fibers manufacturer Iproeb recorded for the first nine months of this year a RON 11.8m (€3.34m) profit, over 2.5 times higher than the same period last year.…
Romania: Lower Taxation Boosts Investments, KPMG Analysis
The most recent survey conducted by the consulting company KPMG outlines that the lower taxation level in 2005, in Romania, contributed to the raise of the direct foreign investment volume, also emphasising that attracting and maintaining investors requires not only a low taxation level, but also a simple tax system and a stabile legislation, Nine o' Clock reports.…
Romania: Micro-Companies' Income to be Taxed 2% in 2007
According to the application norms of the Fiscal Code, all micro-enterprises will be taxed, in 2007, with 2 per cent, in spite that at the time when Fiscal Code was adopted, a different taxation of micro-enterprises was provided in keeping with the activity they were performing.…
Bulgaria and Russia Sign Intergovernmental Agreement on Cooperation against Crime
The governments of Bulgaria and Russia signed in Moscow an agreement on cooperation in the fight against crime, particularly organised crime.…
Romania: State Aid of €850 mil for Regional Development and SMEs
The regional development and the stimulation of the SMEs sector could benefit, as of next year, from a total annual average budget of EUR 850 M under the form of state aid, 'Nine o' Clock reports.…
Romania: Petrom Shares Granted Selectively to Employees
Minister of Economy and Commerce, Codrut Seres, and Minister of Justice, Monica Macovei, recently decided who was entitled to buy Petrom shares within the 8 per cent stock of the company equity capital, Nine o' Clock reports.…
Romania: Contracts Worth €195 mil for Street Modernization
The Bucharest City Hall assigned street modernisation works worth about 195M EUR to three associate company groups, led by the companies Swietelsky, from Austria, Euro Construct Trading 98 and Tehnologica Radion, Nine o' Clock reports.…
Romania: Flamingo Retailer Posts 9-mo Turnover Up 80%
The IT&C and home appliances retailer Flamingo recorded a 9-mo turnover of RON 302.2m (€86.6m), up 80% y/y, accompanied by a RON 18.4m (€5.2m) loss.…
Romania: Oltenia Posts 9-mo Net Profit Up by 91% y/y
The financial investment company Oltenia registered during the first nine months of the year a net profit of €29.2m, up 91% y/y.…