English Section

26 iulie 2018

"Revolut has reached 90,000 users in Romania"

(Interview with Irina Nicoleta Scarlat, Country Manager Revolut Romania)

"The National Anticorruption Department has 4804 corruption cases ongoing"

(Interview with General Prosecutor Augustin Lazăr)

General Prosecutor Augustin Lazăr was the center of attention around the middle of last week, when Justice minister Tudorel Toader started the procedure for the revocation of the head of the Public Prosecutor, following the evaluation he has decided at the end of August. The activity of Augustin Lazăr as part of the Public Ministry has made the minister of justice unhappy, through his statements about the stability of criminal legislation and his claims of supporting the rule of law, the defense of the judges' and prosecutors' independence. The Public Prosecutor manages the activity of all the prosecutors' offices in Romania. It is facing numerous problems and over the last few years some of its members claim it has been constantly subjected to increased pressure from politicians and dignitaries under criminal investigation.

Upon the request of BURSA, the general prosecutor Augustin Lazăr has answered some questions through the Office for Communication with the Press of the Public Prosecutor.

Reporter: How many cases of major corruption are on the docket of the prosecutors office you are in charge of? With the mention that when we're talking about major corruption, we mean the criminal cases which involve suspects or indictees that are MPs, ministers and other Romanian state officials.

Augustin Lazăr: In Semester I of 2018, from the National Anticorruption Department there were 4804 cases ongoing concerning crimes stipulated by the law No. 78/2000 for the prevention, discovery and sanctioning the deeds of corruption.

THE VENICE COMMISSION CLAIMS:The new laws of justice favor offenders

• Klaus Iohannis is asking for the resignation of Tudorel Toader as minister of Justice

• Ludovic Orban: "We are at risk of saying goodbye to Schengen, and goodbye to European funds"

On Friday, the Venice Commission passed the report concerning the amendment of the laws of justice and the criminal legislation by the PSD-ALDE majority parliamentary coalition. In its opinion, the Commission expresses its concern over the fact that many of the changes made to the Criminal Code and the Criminal Procedure Code in Romania seriously weaken the effectiveness of the criminal justice system when it comes to fighting corruption, violent crimes and organized crime.

"The time has come to think of the renewal of our cooperation relations"

ROMANIA AND RUSSIA ROUND TABLE: IN SEARCH OF NEW COOPERATION FORMATS / INIUSHKIN IGOR, RUSSIAN EMBASSY IN ROMANIA:"The time has come to think of the renewal of our cooperation relations"

• "The prospects for the expansion of the trade relations between Romania and Russia are rather good"

The commodities exchanges between Russia and Romania have seen a rather significant drop in 2015 and 2016, but they have increased in 2017, and the growth in the first half of 2018 is about 28%, which shows mutual interest, according to Mr. Inyushkin Igor, Minister advisor in the Russian Embassy in Bucharest.

The banks and the government have joined the dance to save each other

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".

Trump accuses the Fed of insanity

• 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...

REPORT FROM ROMEThe direct democracy forum: a gradual switch from local to national

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.

The National Strategy for Durable Development, completed by October 1st

THE ROMANIAN DEVELOPMENT CONFERENCE STRATEGY / LÁSZLÓ BORBÉLY, STATE ADVISOR:The National Strategy for Durable Development, completed by October 1st

• "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...

MREPORT BY TRANSPARENCY INTERNATIONALCorruption, an imported product

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...

"Revenues from the exploitation of natural gas in the Black Sea need to return to the energy sector"

DEPUTY VIRGIL POPESCU, VICEPRESIDENT OF THE COMMISSION FOR INDUSTRIES AND SERVICES"Revenues from the exploitation of natural gas in the Black Sea need to return to the energy sector"

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.

MRS. FIREA'S VERBAL BOMBSThe mayor of Bucharest continues the war with the internal affairs minister

• "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...

Europe is seeing the specter of the "stones of hunger"

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...

American record: the Nasdaq has exceeded the 8,000 points level

• 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,...

Darius Vâlcov digs up the IPO of Digi Communications

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...

Highways keep collapsing - this time in Germany

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...

The failure to update the natural gas royalties has caused a loss of 8 billion lei to the state budget

THE NATIONAL MINERAL RESOURCES AGENCY, IN A NOTIFICATION TO THE PRIME-MINISTER:The failure to update the natural gas royalties has caused a loss of 8 billion lei to the state budget

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...

"In 1997, the Lombard interest rate rose from 50% to 674%, in one night"

• (Interview with Radu Graţian Gheţea, 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...

"Banks of the future need to speak the same language as the new generations"

• (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...

"I would wholeheartedly vote for a Romexit"

• (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...

THE DĂNCILĂ GOVERNMENT AFTER SIX MONTHSBudget deficit has increased 2.4 times

Now we know why prime-minister Dăncilă was in a hurry to announce the activity report for the first six months at the helm of the Romanian government: the nice tale of the hike of pensions and salaries wasn't supposed to be overshadowed by...

BECAUSE AN AGREEMENT ON THE PRICE COULDN'T BE REACHED, The Alro Public Offer has failed

The public offer started by Vimetco and Conef for a stake of at most 53.77% of the shares of Alro Slatina (Alro) has been unsuccessful, as the issuer announced that due to the unfavorable market conditions, the shareholders, company and...

ECONOMIC ANALYST AURELIAN DOCHIA PREDICTS:"A hike in taxes, unavoidable in the near future"

• According to Eurostat, Romania has the biggest governmental deficit in the EU

The hike of some taxes, in the near future, is unavoidable, according to economic analyst Aurelian Dochia.

His statement comes as, in the first quarter, the...

Russia World CupThe last assault in Moscow: France - Croatia

The final tournament of the World Football Cup will end with a gala representation, the duel between Croatia and France. France, the with the most expensive players in the tournament, has met the expectations, Croatia is the biggest surprise the...

FOOTBALL AND MONEYProfessionally sold image

Cristiano Ronaldo (33 years old) had several hits over the last few days, even though in the final tournament of the World Championship he failed to exceed expectations, as Portugal was eliminated in the round of eight.

Pictured, the ground floor of the "Vasco da Gama" Shopping Mall, Lisbon - photograph by MAKE, personal collection.

The global water crisis is avoiding Romania

The world is intensely preparing for a water crisis, the most important resource for human life. The signs, on a continental and global level, that there is a water problem are increasingly clear.

20 award winners at the Gala of the BURSA Construcţiilor magazine

The Bursa Construcţiilor magazine, published by the BURSA press group, has taken the first step in the third decade of existence and has awarded, in this year's Gala, no fewer than 20 awards of excellence, to some of the most important...

A VOTE FOR AN UNFORGETTABLE SUMMERA hopeless vote of no-confidence

In the plenum joint meeting of the Chamber of Deputies and the Senate, which will be held today starting at 14:00, will be debated and put up for vote the vote of no-confidence against the government submitted by 152 members of the opposition....

The transition towards autocracy

Even without the court ruling rendered in first instance by the High Court of Cassation and Justice in the lawsuit of the fictitious hiring at the Child Protection Department of Teleorman the focus on getting all the institutional levers under...

Three scenarios for the suspension of the President

The Romanian Constitution:

Art. 80 - The role of the president

(1) The Romanian president represents the Romanian government and is the guarantor of national independence, unity and territorial integrity.

(2) The Romanian president must watch...

The chronology of the reunion

The reunion scheduled today between Donald Trump and Kim Jong-un is taking place in Singapore due to the relative neutrality and the security this city-state provides. Singapore is one of the few countries that still hosts a North-Korean embassy,...

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