Archive » October 2006 » 24 October 2006 The english news from 24 October 2006
Bulgaria: Orgachim Posts 40% Rise in 9-mo Profit
Orgachim, the Ruse-based producer of paints and varnish, posted a hefty 40% increase in 9-mo profit to 4 mln levs, showed the non-consolidated financial report of the company, Dnevnik a.m.' reports.…
Romania: Vodafone Sets Up the Vodafone Romania Foundation
Vodafone Romania announced that Vodafone Romania Foundation has been legally established as a Romanian non-governmental organization with a charitable status. The Vodafone Romania Foundation is a non-profit organization, distinct from the commercial operations of Vodafone Romania company, according to Smart Financial News.ro…
Romania: CEC Extends Grace Period to SMEs by 1yr
CEC raised from four to five years the maximum deadline to grant credits to small and medium-sized enterprises, (SMEs), that come from the EBRD.…
Romania: UK Imposes Temporarily Restrictions on Romanian, Bulgarian Workers
London’s Home Secretary John Reid announced on Tuesday a series of restrictions regarding the access of Romanian and Bulgarian citizens to the British labour market once the two countries join the European Union on January 1, 2007. He said that only unskilled workers will have limited access to work in Britain’s food industry and agriculture temporarily, HotNews Romania reports.…
Romania: Trade Deficit to Follow Rising Trend Until 2009
The trade deficit will continue to widen in the following two years due to rising consumer and investment imports, but the trade balance will start to settle in 2009, the minister-delegate for trade Iuliu Winkler said.…
Romania: Retail Mkt to Reach over €100bn by 2010
The retail market in Romania may go beyond the sum of 100 billions euro, in 2010, if the 17% annual medium growth rate will be maintained.…
Romania: Foreign Equity Co's Better Equipped to Attact EU Funds
The procedure for drawing European funds is bureaucratic and companies with foreign shareholders that have benefited from PHARE assistance as well as those that have been through information sessions organized by the authorities will be better prepared to attract EU funding, according to the representatives of the Group for Applied Economics (GEA), Nine o' Clock reports.…
Romania: Transelectrica Posts €43 mil Net Profits for Jan-July '06
Transelectrica, the operator of the national electricity transport system reported for the first six months RON 154.5 M (over EUR 43 M) in net profits, up 34.2 per cent as compared to the corresponding period of 2005, while operational revenues advanced 88 per cent, to RON 1.14 bln (EUR 324.3 M), according to results calculated against international standards, Nine o' Clock reports.…
Romania: Transelectrica May Refund 57% of Loans Ahead of Schedule
Transelectrica may have to refund ahead of schedule credits totalling RON 471.39 M, contracted with a number of international financial institutions, because it failed to comply with several loan terms, according to auditor KPMG Romania, Nine o' Clock reports.…
Romania Will Continue to be Attractive to Foreign Investors
Romania will continue being an attractive market for foreign investors after the EU entry (January 1, 2007), said Sorin Vasilescu, director at National Agency for Foreign Investments (ARIS), in an interview published by Ziarul financiar, ACT Media news agency reports.…