Masa Rotundă - România și Rusia în căutare de noi formate de cooperare
BURSA 06.12.2017

A.A. (translated by Cosmin Ghidoveanu)
mărește imaginea
     * Gheorghe Șimon: "The royalties law will be voted in the Parliament in February next year"
     * Ministry of the Economy: "We will establish royalties which are fair both for the state as well as for the business sector"
     * Daniel Cătălin Zamfir, PNL: "I found out that there are companies that have never, take note, never paid even one leu in royalties to the Romanian state, even though they have been exploiting resources for over 20 years"
     * Last year, the Court of Auditors announced that Romania lost 1.4 billion dollars, because the ANRM established the oil royalties in a flawed manner
       The entire legislative package concerning the regulation of the system for the regulation of the mineral, oil and hydromineral resources will be revised and will be voted in the Parliament in February next year, Economics minister, Gheorghe Șimon, announced yesterday, after the debates of the Economic, Industries and Services Commission of the Senate.
     According to him, the Ministry is going to conduct a thorough study, in order to make the royalty fair.
     Gheorghe Șimon said, quoted by "There is no rule (concerning the raise or drop of the royalties - ed. note), we need to conduct a thorough study for the draft law to be fair to us and the business sector. We will establish royalties so that the state isn't fleeced, but also so we don't kill off the business sector. We need investors in this country".
     According to him, the state helping the business sector is a normal and common sense economic principle: "Even if the state will charge this royalty, it is a lot lower than what the Romanian state could earn though taxes when the business sector is developing. That is the idea of the royalty overall, and for geothermal waters, crude oil and gas in particular".
     The Ministry of the Economy had put the draft law for the regulation of the royalty system for the concessions of mineral, oil and hydromineral resources up for debate on October 23rd.
     According to the proposal, the royalties for on-shore (on land) exploitations were left unchanged, between 3.5%-13.5% of the value of the deposits' output, depending on the size of the exploitation, and in the case of off-shore natural gas deposits, a fixed quota of 10% would be set for the entire extracted volume and a variable one of 2% and 3%, depending on the extracted volume.
     Radu Dudău, former advisor in the Ministry of Energy, said that the new proposal was discouraging investors, on the offshore side.
     Now, legislation on royalties will see a new postponement, even though PM Mihai Tudose had announced they would be raised starting in 2018.
     PNL senator Daniel Cătălin Zamfir, the president of the Economic Commission, yesterday wrote on Facebook, that he found out during the debates that there are companies that have never paid one leu in royalties to the Romanian state, even though they have been exploiting resources for over 20 years: "Incredible! Unimaginable!".
     Today (ed. note: yesterday) the hearings of the Economic Commission of the Senate, the Minister of the Economy, Gheorghe Șimon, confirmed the plunder overseen by the National Agency of Mineral Resources!
     "I found out that there are companies that have never, take note, never, even one leu in royalties to the Romanian state, even though they have been exploiting resources for over 20 years!
     The employees of the Stat have not monitored the payment of the royalties and when they did and found that they weren't getting paid, they did not withdraw those licenses and they weren't concerned with recouping the debts!
     We have asked the newly installed management of the ANRM to urgently recoup the huge amounts owed to the Romanian state and in doing so to present a detailed report of the situation.
     There has constantly been talk about the plundering of the country, but I never imagined something like this, for so many years, with the complicity of the authorities of the State!
     By the way, shouldn't other entities of the State intervene?"
     Daniel Zamfir said that he wasn't talking about the oil sector.
     The Court of Auditors said, in a report announced for 2011-2015, that the National Mineral Resources Agency (ANRM) did not enforce the law and set a reference price for the natural gas extracted from Romania under other circumstances than the ones set through the Oil law of 2004, which led to the drop of the oil royalty owed to the state budget by approximately 4.67 billion lei (1.4 billion dollars).
     Recently, Iulian Iancu, the president of the Commission for the Investigation of the ANRE in the Chamber of Deputies said, in the Commission, that Dumitru Costin, the head of the National Union Block (BNS) presented documents according to which OMV Petrom prejudiced the Romanian state by 7 billion lei.
     According to Iancu, Costin claimed that he had received from the Romanian authorities documents concerning OMV, which describe investigations at various stages concerning tax evasion when it comes to salaries, VAT, the modification of the formula and the incorrect payment of royalties by OMV.
     OMV Petrom denied the accusations that it failed to pay its taxes, which were made in the November 9th session of the Parliamentary Commission for the investigation of the activity of the ANRE. The representatives of the company said: "Over the years, the company has been the subject of several audits by the tax administration, which have been completed. The last fiscal audit, which concerned the oil and natural gas royalties for the 2011-2015 period, was completed without any findings in the second quarter of this year".
     The new royalties law is going to replace the new system for the taxation of oil and gas resources, system which had been established since back in 2004, when Petrom, the biggest oil company in Romania. The contract for the privatization of Petrom since 2014 stipulated that the level of the royalty would remain unchanged for ten years. 

     * Șimon: "We would need two more Cuprumin to be able to justify a plant for the processing of copper ore"
     The building of a plant for the processing of copper ore would be justified if it was going to process at least 120,000 tons, but Cuprumin can only deliver 35,000 tons of ore, Economy minister Gheorghe Șimon Tuesday, told the Economic, industries and services Commission in the Senate Tuesday.
     "We have not abandoned the idea of Cuprumin, just like we haven't abandoned many other companies that are part of the portfolio of the Ministry of the Economy. The environmental permit will be obtained. We have made investments towards that goal and the environmental permit will be extended. These issues will be seen through. We have talked to the people in charge of environmental issues. We are on schedule this time. The issue with mining that we have in Romania is the following: there is no more mining. Sure it is tragic for the Romanian state to sell a resource. Cuprumin sells a resource. It exploits an ore, transforms it into concentrate and then it gets sold abroad. So it is leaving Romania. It would have been very good if it were staying in Romania. We have the intention to build this plant to obtain electrolytical copper. In order to get electrolytic copper we need the plant which needs to be designed for at least 110-120,000 tons. That is where it would be profitable. Today, Cuprumin only delivers 35,000 tons. We would need two more Cuprumin so we can justify a plant", said Gheorghe Șimon.
     He stated that the Romanian state did not legislate the reopening of mines, and this aspect is awaited through the new Mining law.
     The Minister of the Economy said that the intention was to reopen mining where possible and he brought up the situation of Remin Baia Mare.
     * The Minister of the Economy: "I am not pleased with the way things are going at Salrom"
     On Tuesday, Economy minister Gheorghe Șimon said that he was unhappy with the way the activity at Salrom was going, because even though its profit had doubled, the investments were small and not even those had been fully realized.
     "I will admit from the start that things aren't going perfectly at Salrom either. I am not pleased with how things are going over there. I have no problem with corporate management, I really don't. I take it as it is and I believe that this management needs to produce results. There may be other reasons why it isn't producing results. And I am referring to what? As minister of the Economy I am not interested that much in the profile that Salrom is making. It doubled its profit in 2017 compared to 2016. I am not interested that much in that. Of course I don't want to see it losing money. I am interested in how much Salrom invested, and sure, I am interested in it making a profit, but also in how much it has invested. And I didn't like it at all when I saw a position of the directorate of Salrom contrary to mine concerning investments. Aside from the fact that the amounts to be invested in 2017 were smaller, those investments weren't even completed. The investment program was only achieved at a 74% or 76% rate", said Gheorghe Șimon, in the works of the Economic, Industry and Services Commission in the Senate, according to Agerpres.
     He admitted that overall, Salrom makes a profit, but there are mining units that are losing money, one such example being the Cacica mine, which has the purest salt.
     According to the minister, the company's next year's budget will be one directed towards investments.


Readers' comments    [ add a comment ] 
Trimite părerea ta.
Nume (maxim 50 caractere)
E-mail (optional)
Titlu (maxim 50 caractere)
Prin trimiterea opiniei ne confirmați că ați citit regulamentul de mai sus și că vă asumați prevederile sale !
Aceeasi sectiune (English Section)
Ediții precedente
Newsletter Facebook Twitter YouTube LinkedIn RSS
cel mai mare proiect de mediu
Jurnal Bursier
     * BET-NG, singurul indice în creștere
       * BET-NG, singurul indice în creștere
     Piața principală a Bursei de Valori București (BVB) a înregistrat, în ședința de tranzacționare de joi, deprecieri pentru opt dintre cei nouă indici,...  click să citești tot articolul
     Bursele din Europa au crescut ieri, în baza rezultatelor financiare anunțate de companii.  click să citești tot articolul
     * Rulaj de numai 37 milioane de lei, în condițiile lipsei transferurilor de tip "deal"
       Lichiditatea înregistrată în ședința de tranzacționare de la mijlocul săptămânii a Bursei de Valori București (BVB) a fost de 37,16 milioane de lei, sub valoarea înregistrată în ședința anterioară,...  click să citești tot articolul
     Bursele europene s-au înscris pe un curs negativ în a doua parte a zilei de ieri, din cauza evoluțiilor din sectorul auto, generate de apariția informației conform căreia vânzările de mașini s-au...  click să citești tot articolul
     * Transferuri cu 0,5% din acțiunile Fondul Proprietatea, realizate prin piața "deal"
       * Transferuri cu 0,5% din acțiunile Fondul Proprietatea, realizate prin piața "deal"
     Ședința de tranzacționare de ieri a fost marcată de aprecieri ale tuturor indicilor bursei, evoluție...  click să citești tot articolul
     Bursele din Europa au crescut ieri, investitorii fiind atenți mai degrabă la raportările financiare ale companiilor, pentru trimestrul al treilea, decât la alte informații.  click să citești tot articolul
Cotații Internaționale

Curs Valutar

Curs valabil din data de 19 octombrie 2018
1 Dolar australian...
1 Leva bulgărească...
1 Dolar canadian....
1 Franc elvețian...
1 Coroană cehă...
1 Coroană daneză...
1 Liră egipteană...
1 Euro...
1 Liră sterlină...
100 Forinți maghiari...
100 Yeni japonezi...
1 Leu moldovenesc...
1 Coroană norvegiană...
1 Zlot polonez...
1 Rublă rusească...
1 Coroană suedeză...
1 Liră turcească...
1 Dolar S.U.A...
1 Rand sud-african...
1 Real brazilian...
1 Renminbi chinezesc...
1 Rupie indiană...
100 Woni sud-coreeni...
1 Peso mexican...
1 Dolar neo-zeelandez...
1 Dinar sârbesc...
1 Hryvna ucraineană...
1 Dirham emirate arabe...
1 Kuna croată...
1 Bahtul thailandez...
1 Gram aur...
1 DST...
click aici pentru cursurile pieței valutare - istoric
English Section
     Italian finance minister, Giovanni Tria, recently said that the yield of government bonds is not justified by the fundamental aspects of the budget and it is expecting a drop in them, in order for "the negative effects on the banking system to be avoided".  click here to read the entire article
     * American president criticized the central bank for raising the interest rates
     * Bloomberg: The richest people in the world have lost 99 billion dollars following the drops in the stock market
     * Liviu Moldovan, financial analyst: "There is no real danger of us being faced with a stock market crash"
     The stock markets of the world saw major drops yesterday, especially those in Asia and Europe, following the Wednesday evolutions of the American markets. Yesterday, on the markets, panic came as a result of American president Donald Trump against the central bank (Federal Reserve - Fed), concerning the interest rate hikes.  click here to read the entire article
     Some people mistake direct democracy with "the popular democracy regime" of communism. No, it is called direct democracy, because the decision is not mediated by representatives.  click here to read the entire article
     * "We should more seriously concern ourselves with the durable development concept"
     The National Strategy for Sustainable Development of Romania will be completed by October 1st, according to Laszlo Borbely, State Counselor, Head of the Department for Sustainable Development of the Government, who states:  click here to read the entire article
     Globalization has also brought with it an unpleasant effect: cross-border corruption. According to the intermediate report Exporting Corruption for the year 2018, a document drawn up by the organization Transparency International, there is a practice among powerful foreign companies of bribing the public servants of another country when they want to enter the local market.  click here to read the entire article
     The offshore law will once again reach the Commission, in one or two weeks, according to Mr. Virgil Popescu, the vice-president of the Commission for Industries and Services, the Chamber of Deputies.  click here to read the entire article
     * "There have been attempts for the prefect to be made a scapegoat"
     * "The support from the government wasn't much to talk about, so if it were withdrawn, there wouldn't be much of a difference"
     Bucharest's General Mayor was heard on Tuesday as a witness by the prosecutors of the General Prosecutor's Office in the case concerning the events which happened on August 10th in Victoriei Square. Before going into the Prosecutors' Department building, Gabriela Firea said she stood by her statements made immediately after the meeting of the National Executive Committee of the PSD and said: "I always speak based on facts, not just in this particular case, but in other areas as well, including politics. I will be answering to the questions of the prosecutor who contacted me and told me I was supposed to be heard in the case which is now being investigated concerning the intervention of the gendarmes on August 10th".  click here to read the entire article
     The particularly hot weather and the conditions of extreme draught in Europe have brought to light terrible warnings from the past.
     Associated Press recently wrote that in the riverbed of the Elba in the Czech Republic have resurfaced the giant stones known as "the hunger stones", which have indicated over time, the coming of hard times.
     "When you see me, weep", is written on one of these stones, which seems to be considered the best hydrological benchmark in Europe. The inscription is in German and dates back to 1616.
     A detailed analysis of the stone inscriptions was published by the Czech researchers in the "Climate of the Past" magazine in 2013 (author's note: "Droughts in the Czech Lands, 1090-2012 AD", April 2013).  click here to read the entire article
     * Claudiu Cazacu, XTB România: "United States companies have posted results that even exceeded the analysts' expectations, which were already for 2-figure profit increases"
     * Liviu Moldovan, financial analyst: "Currently, investors have a «blind» faith in the stock markets, in general, and in that of the US, in particular"
     For the first time in the history of the American markets, Nasdaq has surpassed the psychological level of 8,000 points.
     In the August 27 session, the Standard & Poor's 500 (S&P 500) index also reached an all time high, ending the trading session at almost 2,897 points.  click here to read the entire article
     The capital market was marked, last week, by a number of controversial statements tied to the listing of Digi Communications, starting from the statements made recently by Darius Vâlcov, state advisor on the team of the prime-minister, who wrote on his Facebook page that he has asked the Financial Oversight Authority (ASF) if it was true that the book value of the Digi shares was 1 leu and 8 bani, and pointed out that at the time of the IPO, the shares of Digi were listed at 40 lei and are currently priced at 28 lei (30% down) and keep going down.  click here to read the entire article
     Angela Merkel inaugurated the highway in December 2005, less than a month after she became chancellor of Germany.
     The highway was built on the territory of the former East Germany, connects Lubeck and the Polish border, after the junction with A11, and goes through the electoral precinct of chancellor Merkel.  click here to read the entire article
     The Romanian government has lost over 8 billion lei, between 2006-2018, following the failure to update the royalties paid by the oil and gas companies, says Gigi Dragomir, the president of the National Mineral Resources Agency (ANRM), in a report sent to the prime-minister.  click here to read the entire article
      * (Interview with Radu Grațian Ghețea, President - CEO of CEC Bank)
     In banking there are many risks and that is why banks need to be flexible and have as diverse an exposure as possible, which take the market circumstances at the time into account, says Radu Grațian Ghețea, President and CEO of CEC Bank. He told us, in an interview: "We have to adapt to what is happening in the market and we need to do things in such a way that the economic activity and that of the bank both function properly. If we're going with the idea that we want to eliminate every risk, then we'll just stop doing anything. For instance, we have been and we are a bank which heavily funds agriculture, which also means animal husbandry. A few years ago, our exposure to the aviculture sector was rather significant, and when the avian flu came we had to cover some non-performing loans on that segment. Now that the avian flu is done, we are facing the swine flu. What should we do, stop lending?"
     Reporter: Lately, there have been opinions from some experts who are saying that there is a wave of non-performing loans of the ones taken out by the First Home Program. What is your comment on these statements?  click here to read the entire article
     * (Interview with Laszlo Diosi, OTP Bank CEO)
     Reporter: How would you describe the banking market, at the present time?
     Laszlo Diosi: Even though there are plenty of challenges, there are also many opportunities for the Romanian banking system. The lessons of the financial-economic crisis have resulted in a better regulated framework, stable, transparent and predictable. The guiding line of the policies developed by the authorities that are qualified, but in particular by those with a regulatory and oversight role has been characterized by a balance between profitability and systemic safety.
     But there is no shortage of challenges. We are talking here about challenges which concern the digitalization of the banking system and the national and international legislation. The entire system needs to align with complex and sometimes confused regulations.
     Recorded by Emilia Olescu  click here to read the entire article
     * (Interview with Dan Paul, the president of the Association of Brokers)
     The management of the Bucharest Stock Exchange (BVB) needs to find out from brokers whether Romania truly needs a derivatives market, says Dan Paul, the president of the Association of Brokers, who was kind enough to grant BURSA an interview.  click here to read the entire article