Archive » October 2008 » 28 October 2008 The english news from 28 October 2008
Bucharest Stock Exchange sinks to new record low, following worse crisis on the financial markets
Panic prompted by massive drops on the Asian bourses paved the way to indexes' crash on the Bucharest Stock Exchange (BSE) and forced the bourse's board to suspend session again for half an hour, after the BET index slipped to the maximum variation limit…
Banks' margins continue to fall
The lending profit margin - the spread between the interest rate asked by banks for loans and that offered for savings, narrowed to an average of 3.05% in August, according to data from the NBR (National Bank of Romania). At the beginning of the year, the RON interest rate was 2.5% higher than in August, while for euros, the interest rate was almost half a percentage point higher for individual clients…
S & P downgrades Romania, BVB indices plunge
Standard & Poor's rating agency yesterday downgraded Romania on grounds that risks are increasingly high for the country's real economy. The Bucharest Stock Exchange (BVB) had expected the move, with severed indices declining. On the currency market, the leu sharply depreciated minutes after S & P's announcement…
Romania is the last in the region in terms of alternative energy
Though it has the biggest potential among all the neighboring countries. We have the third geothermal potential from Europe, after Italy and Greece, and it is considered the country with the highest potential of Aeolian energy from the region…
Hervis Sports opening 50 stores in Romania
Sports equipment and clothing retailer, Hervis Sports, is targetting the opening of 50 new stores in Romania. Among the 50 new stores to be opened, General Manager of Hervis Sports, Catalin Posdarie stated recently that "there will be at least seven stores in Bucharest"…
Carrefour aiming for 1 billion euro turnover for 2008
The second largest retail company in the world, Carrefour, posted nett sales worth 71.8 billion euro during the 1st three quarters of 2008, a growth of 7.7% on the previous year. In Romania, Carrefour has seen an increase of 47.5% in sales during the same period.…
Lockheed Martin Completes Modernization Of Air Defense System For Romania
Lockheed Martin [NYSE: LMT] has completed installation of an air defense and communications network modernization project for the Romanian Air Force. The project, completed by Lockheed Martin and several Romanian subcontractors, enhances the air defense and command and control capabilities of Romania's Air Sovereignty Operations Center (ASOC)…