Archive » October 2006 » 06 October 2006 The english news from 06 October 2006

  • Romania: Amonil Might Cease Operations

    Amonil Slobozia intends to cease its activity and to dispose around 600 employees out of 650 starting with 15 November 2006, according to the company’s representatives’ statements.…

  • Romania: Oil Terminal Constanta Revises Upward FY06 Profits

    Oil Terminal Constanta revised upward the estimated gross profit for 2006, up to RON 3 Mn (EUR 0.85 Mn), as compared to the initial forecasted of RON 1.6 mn.…

  • Romania: Intermarket Bank Viena, BT Own 50% each of IFN

    Intermarket Bank Viena and Banca Transilvania hold each 50% of the factoring company IFN, which is member of Factor Chain International (FCI).…

  • Romania: Investment Oportunities Exist in Energy Field

    Minister for Petroleum and Natural Resources Amanullah Khan Jadoon said there existed a lot of potential and opportunities for cooperation between Pakistan and Romania in the hydrocarbon and mineral sectors to the mutual advantage, according to Dawn Pakistan news reports.…

  • Romania: Foreigners Buy More Shares and Bonds

    Foreigners bought shares and bonds worth 577.67 million euros on the Romanian capital market in the first eight months of this year, according to the data centralized by the Romanian National Securities Commission (CNVM), accroding to Ing Financial News Romania.…

  • Romania: 1m People to Contribute to Optional Private Pensions Fund

    As many as 1 million persons will contribute to the optional private pensions funds until 2010, estimates Varujan Vosganian, chairman of the commission on budget, finance and banking with the Romanian Senate, stressing that as of 2007 any employee could contribute to this fund 15 percent of the gross salary, according to the law, Rompress reports.…

  • Romania: British Airways to Fly from London to Timisoara and Tg.Mures

    British Airways will launch as of November, seven supplementary weekly flights to London, from Timisoara and Targu-Mures, with a stop in Budapest, the flights being operated through a partnership with the Hungarian company Malev, Nine O'Clock reports.…

  • Romania: Vodafone Introduces HSDPA - 3G Broadband

    Starting yesterday, Vodafone customers can benefit from Vodafone Mobile Connect Card with 3G Broadband, service, a leading mobile connectivity solution which enables speeds up to 1.4 Mbps, 4 times higher than currently on 3G, Nine O'Clock reports.…

  • Greece: Economic Growth to Exceed 4% in '06

    The Finance Minister, commenting on economic growth forecasts, stated that the economic growth will exceed 4% (current forecast for 3.8%) this year, while the respective figure for 2007 at 3.8% seems very conservative.…

  • Romania: Eximbank Enters into Partnership with BCR

    A general cooperation agreement between Eximbank and the Romanian Comerical Bank (BCR) is to be materialized in an offer of specific banking products and services apt to support the Romanian companies, due to complete the BCR banking products offer, reads a release of the Romanian export-import bank Eximbank, ACT Media news agency reports.…

  • Romania: CIE Management Takes Over Brenntag

    The Competition Council authorised the transaction through which CIE Management II Limited, registered in the Channel Islands, took over the German chemical distributor Brenntag Investor Holding, operating in the Romanian market through Brenntag Chiajna, the regulatory authority announced, Nine o' Clock reports.…

  • Romania: PSD Wants CEC Privatization to Stop

    PSD Vice-President Mihai Tanasescu stated that the CEC privatisation should be halted and that the bank should remain state property and that the Proprietatea Fund, ‘a lamentable failure’ should be abolished, Nine o' Clock reports.…

  • Romania: Cherna Voda Nuclear Power Plant Closes Down

    The first unit of Romania's Cherna Voda Nuclear Power Plant was said to have shut down, due to an equipment fault, Sofia News Agency reports.…

  • Romania: Budget Registers Surplus of 1.65% of GDP in Jan-Aug. '06

    Romania's consolidated budget recorded a surplus of 1.65% of the GDP in the first eight months of 2006, against 1.7 percent up to the end of July, according to finance ministry data.…

  • Romania: Finansbank Romania Plans Cap Raise

    The shareholders of Finansbank Romania, part of Turkish FIBA Group, will vote on a capital increase of 53.5 mln Romanian lei (15.2 mln euro), to 175 mln lei (49.5 mln euro), against a cash contribution, the bank said in a statement.…

  • Romania: Moody's Upgrades Romania's Ratings

    Moody's Investors Service upgraded the Romanian government's long-term and short-term foreign and local currency ratings to Baa3/P-3 with a stable outlook.…

  • Romania: ABN Amro Focuses on SMEs

    ABN AMRO Romania intends to remain a niche bank, focusing on small and middle-sized enterprises sector, and takes into account the establishment of a brokerage company and the intermediation of new bond issue, said the bank’s president Peter Weiss, Nine o' Clock reports.…

  • Romania: Daewoo Automobile Curtails Financial Operations

    Daewoo Automobile will refrain from taking long maturity loans, pay dividends to shareholders, enter into annual contracts of above USD 100,000 or buy stocks in another company until the state takes over the majority stock from Daewoo Motor, Nine o' Clock reports.…

  • Romania is Promising Zone for Investments, Says GE President

    Romania, set to enter EU on Jan 1, 2007, could benefit of investments from General Electric of up to 500 million euros, said GE International President, Nanni Beccalli, ACT Media news agency reports.…

  • Romania: Bechtel Contract May be Cancelled

    Minister of Transport Radu Berceanu voiced his dissatisfaction with American company Bechtel, whose work, he claims, does not comply with the promised pace, and said that unless deadlines are complied with, the company was liable to sanctions, going as far as to contract cancellation, Nine o' Clock reports.…

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