Archive » October 2006 » 18 October 2006 The english news from 18 October 2006
Romania: Legislation in Telecoms Needs Modifications
ANRC must adapt the legislation to the new realities in the telecoms field and rethink the most relevant concepts of the market, stated the president of the Commission for IT&C within the Chamber of Deputies, Varujan Pambuccian, Nine o' Clock reports.…
Romania: Zentiva Pain Killer Sales Expected to Reach RON 230 mil in '06
One of the most dynamic pharmaceuticals companies in Romania, Zentiva, launched two international acclaimed products, Ibalgin and Calibrum, having had a success with Modafen - an equivalent for Nurofen – in 2005, Nine o' Clock reports.…
Romania: AVAS Opposes Rodipet's Conversion of Debts to Shares
The president of the Agency for the Recovery of State Assets (AVAS), Razvan Orasanu, disputed the conversion into stock of the debts owed by Rodipet, and considers that Magnar Systems, the company that was to become Rodipet’s owner again by acquiring the new securities, should pay a portion of the debt, Nine o' clock reports.…
Romania: Greek Sarantis Co. Focuses on Pharmacy and Hypermarket Chains
The cosmetics company Sarantis Romania focuses on the pharmacy and international hypermarket chains, which register significant increases in sales at present, ACT Media news agency reports.…
Romania: TAROM Expects $2 mln Profit in 2006
TAROM flight operator posted 1 million dollars in profit over the first half of the year and expects 2 million dollars for the entire year, ACT Media news agency reports.…
Romania: Flamingo Estimates Gross Profit of €20.3 mln in 2006
Flamingo Co. estimates for this year a gross profit of 20.3 million euros, appreciating that the net results in 2006 will be negative, respectively of minus 4.49 million euros, compared to the positive one of 1.9 million euros in 2005, following the costs required by Flanco Co.'s integration and of spending for network restructuring, ACT Media news agency reports.…
Romania: Hella Co. Opens Electronic Factory for Auto Industry
Hella Electronics Romania Co., part of the German group Hella KGAA Hueck&Co. opened in Timisoara, north-west of Bucharest, a factory of electronic components for the auto industry, an investment worth 12 million euros, ACT Media news agency reports.…
Romania: Elvila Sales, up by 5 % Jan- July'06
Elvila group, one of the top players in the Romanian furniture industry, owned by businessman Viorel Catarama, reported revenues worth 74 million euros for the first seven months of this year, up by 4.9 percent on the same period last year, ACT Media news agency reports.…
Romania: Assa Abloy Boasts €16 mln Business on Domestic Market
Lock systems and hardware producer Assa Abloy Romania, part of the Swedish group Assa Abloy, posted a turnover over 16 million euros, and profit amounting to some 140.000 euros in 2005, according to ACT Media news agency reports.…
Romania Has the Strongest Textile Industry in Europe
Romania has the strongest textile industry in Europe according to German consultant Avanz MC, who made a survey on the regional textile market, ACT Media news agency reports.…
Romania: Modern Retailing to Rise Mkt Share to 50% by 2010
Modern retailing in Romania, represented by hyper and supermarkets, has a market share of circa 20 per cent, yet it is up for major development in the upcoming years, retailers said at Romania Retail Forum, Nine o' Clock reports.…
Romania: GE Money To Invest $50 M In Motoractive, Domenia, EstimaFinance
GE Money is planning to invest 50 million USD over the next two-to-three years in developing and consolidating the Romanian-based companies Motoractive, Domenia and Estima Finance, Bursa reports.…
Romania: Comturist Posts Rising Results
Comturist - Bucharest reported an H1 turnover of 5,348,666 RON, up by 9.86 percent year-on-year. Revenues gained 9.58 percent to 5,384,238 RON, whereas expenses only rose by 4.33 percent to 5,094,038 RON, Bursa reports.…
Bulgaria: EU Entry Raises UK's Interest in Property Mkt
Investments in Bulgaria and Romania rise in popularity in the United Kingdom following the European Commission's announcement that both countries will be admitted to the EU in January 2007, a survey showed, Sofia News Agency reports.…
Romania: Renault To Produce More Models at the Pitesti Factory
Representatives of Automobile Dacia briefed Deputy Prime Minister Bogdan Pascu on the main Renault achievements in Romania, as well as on future investment plans, Bursa reports.…
Romania: German ECE Allocates Over €100m in Mall Construction
German group ECE, one of Europe's major developers and operators of shopping centers, could arrange funding of over €100m for a mall, through the Sema Parc project from Bucharest, which will be built on the land owned by Semanatoarea.…
Romania: ADS Miorita SA Increases Share Capital
Shareholders in ADS Miorita SA have decided to increase share capital by 10,000 RON, from 963,397.50 RON to 973,397.50 RON by issuing 4,000 nominal shares with a face value of 2.5 RON, Bursa reports.…
Romania: Fleet Management Services Opens Office In Timisoara
Fleet Management Services (FMS) has announced the official opening of an office in Timisoara, to complement their presence in Iasi and Cluj, Bursa reports.…
Romania: Turnover in Communications to Reach €4 bn in '06
Communications market turnover might reach a total of 4 billion euros in 2006, up by 20-26 percent more than in 2005 when it attained 3 billion euros, the National Regulatory Authority in Communications (ANRC) president Dan Georgescu said.…
Romania: Rural Pensions Receive Funds of €200,000
Romania’s National Loan Guarantee Fund for Small and Medium-sized Enterprises, (FNGCIMM), launched a new financing program for tourism companies worth a total of EUR200,000 for ensuring necessary funds for covering development and expenses.…