Archive » November 2008 » 26 November 2008 The english news from 26 November 2008

  • Romanian lender Alpha Bank doubles nine-month gross profit to EUR 47.8m

    Alpha Bank Romania, the unit of the Greek-based Alpha group, posted 104.6 percent boost in gross profit year-on-year in the first nine months, on massive advance of credits, a report shows…

  • Allianz-Tiriac boss: Sales of life insurance down to half

    Sales of life insurance on the domestic market have halved in the last few months as a result of the financial crisis, says Cristian Constantinescu (pictured above), general manager of Allianz-Tiriac, the leader of the insurance market…

  • Ways to avoid an IMF loan due to wider deficit

    The government yesterday made the fourth budget rectification this year, to secure funds for pensions and the salaries of some public institution employees, as government spending rose by over 37 percent in the first eight months of 2008, and the budget deficit could amount to as much as 3.2 percent of gross domestic product (GDP)…

  • Romanian Ctrl Bk May Cut Interest Rates When Bks Solve Confidence Issues-PM

    The National Bank of Romania, or BNR, might cut the key monetary policy rate the confidence issues between banks are solved, Romanian Prime Minister, Calin Popescu Tariceanu said Tuesday, adding that this decision belongs exclusively to the central bank…

  • Insurance market watchdog temporarily bans activity of insurer Unita for unapproved management swap

    The Romanian insurance market watchdog (CSA) announced today it decided to prohibit the sixth market player Unita Vienna Insurance Group to run its activities for a while after the new shareholders of the insurer did not ask for the CSA approval when they conducted changes at the management level…

  • EFG: Crisis survivors will become much stronger

    Future Group (EFG), involved in the development of 14 projects in Romania, believes the firms that will overcome the current crisis will go on to "call the shots" on a market that will become less crowded and where there will be a resetting of property values…

  • Crisis leads to more private banking investments

    The portfolio value of private banking clients increased recently, as businesspeople would rather have lenders manage their savings amid the crisis and wait for a more appropriate timing for new transactions. At Raiffeisen Bank, the value of private banking client portfolios exceeds €500 million …

  • Dacia Sandero Achieves 3 Stars In Euro NCAP Crash Test

    Renault's Romanian make Dacia Sandero was awarded three stars out of five for adult occupant protection at the latest Euro NCAP safety tests, the European organization said Wednesday. The Sandero obtained four stars out of five for child occupant protection, but only one star of four for pedestrian protection in case of impact…

  • Euro NCAP's first rear impact (whiplash) test: 80% of seats tested need improvement

    Yesterday, Euro NCAP released the results for seats put through the organisation's first ever round of rear impact testing. Euro NCAP carried out whiplash tests on the front seats of 25 passenger cars crash-tested by the organisation during 2008.…

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