Archive » November 2008 » 03 November 2008 The english news from 03 November 2008
The economic crisis could leave 17,000 Romanians unemployed, labor minister deems
Around 17,000 Romanians could be left without jobs due to the financial market turmoil, which would require an increase of the budget spendings for unemployment in 2009, according to the country's Labor Minister Mariana Campeanu…
Florin Andronescu: The market needed a major correction
Businessman Florin Andronescu, investor in businesses such as clinic network Sanador, credit broker Kiwi Finance and private insurance broker Sanas, believes Romanian entrepreneurs need to review their entire business strategies and philosophies in order to overcome the crisis…
Mutual funds register losses of up to 80%
The yields in 2008 of open investment funds with share placements reached -80 percent due to last month's major depreciation of Bucharest Stock Exchange (BVB)-listed shares, according to data provided by fund administrators…
Joint World Bank/International Monetary Fund Mission To Assess Romania's Fin System
A joint mission of the World Bank and of the International Monetary Fund, or IMF, will be on a visit to Romania between November 3 and November 14 to assess the country's financial system, a statement of the International Monetary Fund read…
Cold wind of recession blows into east Europe
Ask Romanian pensioner George Iedan to list the benefits of western-style liberal market economics and he would do no more than show you round his communist-era flat. Iedan and his Hungarian-born wife, Barbara, share a modest two-room flat with a kitchen and bathroom. They live in Timisoara, a city that has profited from an inflow of western money and industry and counts itself well off …
Mutual trade, investment with Romania, Bulgaria
Trade delegation from Romania and Bulgaria during their visit to FPCCI here expressed their positive notion in making project deals for supplying raw material for food processing, locomotives, railway infrastructure and textile machinery industry in which they have an expertise…
Too busy to do their job
The European Commission decided to pursue infringement procedures against Romania -already second stage - for the energy sector. The main reason is that the Romanian Parliament failed to pass an emergency government ordinance, that was supposed to assure the compliance of Romanian legislation to the EU Directives 2005/89 and 2003/54 …
Romanian lender Banca Transilvania dismisses market rumors on possible sale
Romania's fifth lender by assets Banca Transilvania denied rumors over possible sale explaining such a move should be firstly approved by the shareholders at a general assembly, according to a press release…
BNR to discuss inflation target with new Cabinet
Mugur Isarescu, Governor of the National Bank of Romania (BNR), explained yesterday why Romania does not need funds from the International Monetary Fund (IMF). "You can see how large our reserves are; we have no place to put these," he said, regarding the €1.3 billion increase in the foreign currency reserve, up to €29.2 bln…
48 orders for Ferrari on Romanian market
Forza Rossa, Ferrari's representative on the Romanian market, has received 48 orders for the models of the Italian car manufacturer, with 20 units to be delivered this year. "So far, Forza Rossa has delivered 15 Ferrari automobiles, which cover the whole range of models, while 48 orders have been placed for cars which are due for delivery in the coming eighteen months,"…
Romanian Car Mkr Dacia To Halt Production Between Nov 20, 21
Romanian car maker Dacia announced Monday it will halt production between November 20 and 21, due to the need to adapt production to the auto market evolution. Dacia previously used this measure for another four days, namely October 30-31 and November 13-14…