Archive » November 2009 » 03 November 2009 The english news from 03 November 2009
GE may invest in Romania via $250mln equity fund
The US-based technology and services conglomerate has launched the GE Healthymagination, a new equity fund that will make $250mln investment in healthcare technology companies, including Romanian companies. "The healthcare industry needs state-of-the-art solutions and we have to create technologies that would help both doctors and hospitals in delivering medical services to a higher number of patients, at lower costs and at a higher quality…
Fondul Proprietatea's nine-month profit ups 50% on equity offload
Fondul Proprietatea reported net profit of 646.47 million lei (€152.83 million), 50% higher than year-ago period, after selling its equity positions in Petrom Aviation, CEZ Distribution, CEZ Vanzare and CEZ Services. The fund reported for the three quarters ended in September 2008 an after-tax profit of 424.8 million lei (€117 million), profit lifted by revenues from dividends…
Erste plans to raise €1.65 billion in a rights offering at BSE
Austrian-based banking group Erste Bank, majority shareholder of BCR said it planned to raise capital by €1.65 billion in a rights offering, at which Bucharest Stock Exchange investors can subscribe, in order to boost its capital indicators and improve capital structure…
Korea bids for taking over 0.65% of the former Braila naval shipyard
The Korean company STX Shipbuilding the major stakeholder of STX RO Offshore Braila ( former Santier Naval Braila) will present between 3 and 23 November a bid, through which they want to acquire 0.65% of the shipyard's capital, for the total sum of 1.36 million lei.Thus, STX Shipbuilding wants to buy through the STX Norway Offshore…
World Bank analysis : Romania tops economic negatives in Central and East Europe
With an 8% lower GDP in 2009, Romania gets in front of Lithuania, Latvia and Estonia in a central and Eastern Europe top 10, according to a World Bank analysis published on Wednesday, October 28. Regarding the budget deficit, Romania is only behind Latvia and Lithuania…
Jeffrey Franks (IMF): An international coalition has been created to help Romania out
International Monetary Fund (IMF) experts have come to Romania to make sure Romania has solutions for the economic state in which it finds itself; an international coalition has been created to help Romania out, head of the IMF review mission Jeffrey Frank said on Friday in Bucharest at the end of talks with an official delegation of the Social Democratic Party (PSD) headed by the party's chief Mircea Geoana…
Pre-leased office space in H2 down 50%
Almost 25 percent of the total space due to be delivered in the second half of 2009 is pre-leased, with the occupancy rate 50 percent lower than levels posted in 2007-2008, when pre-leased spaces made up 45-60 percent of total finalized spaces, according to a study by BNP Paribas Real Estate…
Liquidity on BVB went up 75% last week
The trading value on the Bucharest Stock Exchange (BVB) stood at 209.53 million lei (about 49 million euros) last week, up 75% as against the week before. According to a weekly report of Intercapital Invest brokerage firm, liquidity has been supported by transactions with shares of SIF Oltenia, SIF Moldova, while over 34% of the transaction value was given by the bonds transfer …
BCR's npls soared 71% in 3 months
The nonperforming loan (NPL) portfolio of Banca Comerciala Romana (BCR) increased 70 percent in the third quarter of this year, to a share of 10.6 percent in total loans at the end of September from 6.2 percent in June 2009. BCR posted total loans worth RON 45.8 billion (some €10.8 bln, computed at an average RON 4.2292/€1exchange rate) at the end of the first half of 2009, of which RON 2.8 bln (some €0.66 bln) were NPLs…
Mihai Tanasescu: Threat that pension fund depleted overplayed
The threat that money will be unavailable for pensions and salaries is overplayed. The most important requirement of the International Monetary Fund (IMF) now is the adoption of the Budget Law, Mihai Tanasescu, Romania's representative to the IMF, on Friday declared for Agerpres…
Traian Basescu: There are compromise formulas to enforce the Lisbon Treaty by the end of the year
The Lisbon Treaty will be enforced by the end of this year. The announcement was made by the Romanian president Traian Basescu, who took part in the European Union chiefs of state and of government meeting in Brussels. "There are compromise formulas which will give the Czech Republic satisfaction so that, by the end of this year, the Lisbon Treaty will be enforced"…
Germany's TUI To Resume Operations In Romania As Of 2010 - Tourism Minister
German Group TUI, one of the world's leading tour operators, will resume operations on the Romanian market as of 2010 and Romania's official holiday season will open on May 1 and close on October 1, as part of the conditions imposed by TUI, Romania's acting Tourism Minister Elena Udrea said Tuesday.…
BNR keeps reference interest rate steady, at 8 pc
In its last session dedicated to monetary policy this year, the Board of Administrators for the National Bank of Romania (BNR) resolved to keep the monetary policy interest rate steady at 8 per cent and the RON and hard currency mandatory minimum reserve rates at 15 per cent and 30 per cent respectively.…
IMF seeking solutions to release third loan tranche
The International Monetary Fund (IMF) is seeking solutions for the approval of the release of the third installment of the stand-by loan, Petru Dandea, vice president of Cartel Alfa trade union confederation, declared on Tuesday at the end of negotiations with the IMF mission.…
EC says Romania's recovery depends on IMF-agreed reforms
Romania is on a path of "gradual recovery," but its large deficits raise the country's "exposure to the global economic downturn," European Commission (EC) economists say. This diagnosis is included in the EC's autumn forecasts for 2009-2011.…
Public healthcare system at red-alert level
The Romanian public healthcare system is running at the red alert level, argue family doctors representatives, adding that the effects of under-financing are not yet visible at their real size, but the already frequent signals that appear show the situation may grow worse.…
Cosmote Group takes hold of Zapp shares
The full Telemobil (Zapp) shares' package, held by Saudi Oger, was transferred to Cosmote group, the mobile telephony operator announced on Monday, November 2. The 200 million euros acquisition was approved last week by the Romanian Competition Council. Cosmote will now be able to offer mobile broadband services, thanks to the 3G license held by Zapp.…
Ford Fiesta wins Romania's best car design in 2010
New model of Ford Fiesta won the award 'Design of the Year 2010 in Romania', following the vote of a jury made up of 27 journalists representative for the national auto media, for the line Kinetic Design, reads a release of Romcar, the official importer of Ford in Romania. Fiesta model amassed 154 points, ahead of Opel Astra (134 points) and Renault Megane (109 points).…
Romania's international reserves, 28.402 bln euros
On October 31, 2009 Romania's foreign exchange reserves stood at 28.402 billion euros compared to 28.339 billion euros on Sept. 30, 2009, Romania's National Bank (BNR) announced on Monday.…