BURSA 07.09.2017

Recorded by ANCUȚA STANCIU (translated by Cosmin Ghidoveanu)
 
mărește imaginea
     *  "I hope that the government won't use the new fiscal regime of royalties as an intimidation tool against hydrocarbon producers"
     *  Interview with PNL Lucian Bode, former minister of the economy
       Reporter: What is your opinion on the decision of the authorities to once again change the Energy Strategy?
     Lucian Bode: To me, the unreliability of the current government is obvious when it comes to the completion and approval of this document that is of strategic importance for the national energy sector. The old team of the Ministry of Energy left them this project in a completed state at the end of 2016. "Revising" that document in a few weeks is ridiculous, as minister Toma Petcu in the hearings of the specialized commissions, said that the Energy Strategy was only missing the "environmental permit".
     Hundreds of specialists that have provided thorough argumentation in a well written document, and nowadays some politicians are trashing all that effort. It is extremely dangerous to nominate specific objectives in the strategy (the Tarnița hydroelectric plant, the reactors number 3 and 4 of Cernavodă etc.).
     That kind of strategy, in my opinion, should first of all indicate all the avenues of action, to be visionary, not to be restricted through the nomination of some goals. The only thin that's missing is to mention who is going to make them.
     I have a feeling we won't have a strategy passed this year or if it is assumed in the announced form, it will only be a collection of projects without much strategic value.
     Reporter: What will be the main effects of the increase of the energy price on the Day-Ahead Market (PZU)? Can we claim there is a manipulation of the price of energy happening on the PZU?
     Lucian Bode: We have once again witnessed this summer, after that winter episode, a staggering price increase on the PZU. It didn't take long for reactions to appear, most statements of the officials were oficialilor au fost de calmare, but with no solid analysis being presented. I think that the effects will be visible in the winter, in the energy bills. The increase of the price of electricity is unavoidable, no matter how much the government tries to spin it otherwise.
     As for a potential market manipulation, the Government holds control of over 80% of the output capacities of the electricity market. Therefore, it is the government itself, through the Ministry of Energy that needs to answer this allegation making the rounds in the market. The Competition Council has begun an investigation on the subject, we await the conclusions as quickly as possible. We hope it won't be just a maneuver to bury a matter that will have significant effects on the population and not only, which can happen again in the coming winter.
     Reporter: What is your opinion on the intention to only conduct trading of natural gas on the OPCOM and eliminating the Romanian Commodities Exchange (BRM) from this process?
     Lucian Bode: It would be a big mistake. In this particular case the discussion needs to be conducted in terms of benefits versus disadvantages. Do we want a competitive, transparent market, or one that is like a monopoly, easy to control? I think that the balance needs to lean towards the first option.
     Reporter: Will the energy market be influenced by the election of the management of the ANRE this autumn?
     Lucian Bode: I hope not. We have a solid, stable ANRE, which has evolved a lot over the last few years. But the PSD, just like it has come to be expected from them, will try to impose its control over that institution which needs to stay outside the political game. It would be a big mistake for the ANRE to become the battleground of the political interests of the PSD. If they do that, we will see an institutional step backwards with a negative impact on the energy market.
     Reporter: Why do you think that the authorities are dragging their feet on the issue of royalties?
     Lucian Bode: No arguments have been provided for the postponement of a decision on that matter, because this government is now in a state of constant "confusion", and not just on this particular issue. From the beginning of the year they've been doing fiscal experiments.
     I hope the government won't use the new fiscal regime of royalties as an instrument of intimidation against hydrocarbon producers, in response to the announced increases in the price of fuel. At any rate, the lack of any legal framework generates major unpredictability in this sector.
     Reporter: Thank you! 
 

 
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Aceeasi sectiune (English Section)
AFTER BEING INVESTIGATED BY THE TAX ADMINISTRATION AND THE ANPC, BANKS GET INVESTIGATED BY THE COMPETITION COUNCIL
AFTER THE TRANSACTION BETWEEN BANCA TRANSILVANIA AND BANCPOST
PATRICIA SUÁREZ RAMÍREZ, THE PRESIDENT OF THE ASSOCIATION OF FINANCIAL CONSUMERS OF SPAIN:
Actualitate - vezi toate știrile mai jos.
Bănci-Asigurări, 13:09
     * Dolarul a scăzut cu 1,15 bani în fața monedei naționale
     * Francul s-a depreciat la 3,9531 lei
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Politică, 14:42
TEODOR MELEȘCANU:
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Piaţa de Capital, 14:39
LA MIJLOCUL ȘEDINȚEI:
     Piața principală a Bursei de Valori București (BVB) a înregistrat, în prima parte a ședinței de tranzacționare de astăzi, o lichiditate de 14,5 milioane lei (3,1 milioane euro).  click să citești tot articolul
Internaţional, 14:15
     Producătorul italian de ciocolată Ferrero va prelua divizia de dulciuri a Nestle din SUA pentru 2,8 miliarde de franci elvețieni (2,8 miliarde de dolari), tranzacția fiind în linie cu strategia "Nestle" de a renunța la comercializarea dulciurilor și de a se concentra pe produse mai sănătoase.  click să citești tot articolul
Politică, 14:09
     Șeful Poliției Române, Bogdan Despescu a fost demis de premierul interimar Mihai Fifor. După ce aseară a făcut o vizită la Ministerul Afacerilor Interne, premierul a avut în această dimineață o nouă convorbire cu ministrul Carmen Dan despre situația șefului IGPR.  click să citești tot articolul
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English Section
10.01.2018
     * Sources: Dan Pazara is leaving together with Mariana Gheorghe
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       The Supervisory Board of OMV Petrom yesterday appointed Christina Verchere as president of the Directorate and CEO of OMV Petrom, replacing Mariana Gheorghe.  click here to read the entire article
20.12.2017
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19.12.2017
     Approximately 700 magistrates from several courts and prosecutor offices in the country have gathered yesterday on the steps of the Bucharest Court of Appeal.  click here to read the entire article
18.12.2017
     * The Secretary General of the European Federation of Journalists has pledged to support with all his strength, the efforts of FAIR-MediaSind to halt the politicians' attacks on the independence of Romanian journalists
       The political assault on the freedom of the press in Romania, through the amendment of the laws of justice by the coalition in power, was one of the main issues today in the meeting of the Social Dialog Commission of the European Commission, which was attended, on behalf of Romania, Leonard Pădureț, president of the FAIR - MediaSind Culture and Mass Media Federation, together with executive president Cristi Godinac.  click here to read the entire article
14.12.2017
EXCLUSIVE:
     * "We need real and rational policy from the international community and not political tricks"
     * (Interview with his Excellency, Mr. Fuad Kokaly, the Ambassador of Palestine in Bucharest)
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12.12.2017
AFTER BEING INVESTIGATED BY THE TAX ADMINISTRATION AND THE ANPC, BANKS GET INVESTIGATED BY THE COMPETITION COUNCIL
     * Chirițoiu: "We suspect an exchange of sensitive information on the banking market"
     * Dan Suciu, NBR: "The audits of the Competition Council can't be a reason for panic whatsoever"
     * Unannounced audit at Finmedia
     * The investigated institutions are at risk of being fined 10% of their turnover
     * Vasilescu: "The NBR has nothing to do with these investigations"
       The financial banking system seems to be the focus of most of the investigation entities. After being audited by the National Tax Administration Agency (ANAF) and by the National Consumer Protection Authority (ANPC), some of the banks which operate in Romania have also been investigated by the Competition Council (CC).  click here to read the entire article
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     * The ANPC has also won the initial lawsuit against Telekom România
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AFTER THE DRAFT HAD BEEN PUBLISHED IN OCTOBER
     * 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
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27.11.2017
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24.11.2017
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     * The waiting list may include a few foreigners, including former BRD executive Jacek Panczyk
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23.11.2017
PATRICIA SUÁREZ RAMÍREZ, THE PRESIDENT OF THE ASSOCIATION OF FINANCIAL CONSUMERS OF SPAIN:
     * The head of the ASUFIN: "The ruling of the Supreme Court of Spain in which the Andriciuc case has been invoked will be part of the Spanish case law and the lower courts will be required to apply the principle that underlies this decision"
       The ruling issued by the Court of Justice of the European Union (CJUE) in the Andriciuc versus Banca Românească case represents a great advantage for Spanish debtors, said Patricia Suarez Ramírez, the president of the Association of Financial Consumers in Spain (ASUFIN), as part of a response recently sent to BURSA.  click here to read the entire article
22.11.2017
     * Dragnea: "Those who are against me are hiding behind institutions"
       The president of the Chamber of Deputies, Liviu Dragnea, leader of the PSD, thinks that his enemies are hiding behind some institutions, "they crucify people", and the real stake is "the blocking of the Laws concerning the Justice system".  click here to read the entire article
21.11.2017
     The Council of the European Union and the European Parliament have sent to the ECB, in the beginning of this year, a request concerning the sending of some proposals to revise the framework for managing crises.  click here to read the entire article
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