BURSA 28.12.2014

A.A. (translated by Cosmin Ghidoveanu)
 
mărește imaginea
     Businessman Ioannis Papalekas distances himself from his former business partner Dragoș Bîlteanu, who was placed in preventive detention in the case of embezzlement from the SIFs, in an open letter which he sent on December 22nd, in which he states that lately, his business dealings with the former CEO of SIF Banat-Crișana had diminished considerably.
     Ioannis Papalekas says that he wants to make sure that the public has an accurate representation of the facts, after he talked to the DIICOT prosecutors last week. Judicial sources have announced, after the arrests of Dragoș Bîlteanu and Najib el Lakis, that Ioannis Papalekas is also being criminally indicted, because in the context of Globalworth (the real estate investment fund which he founded) going public, he allegedly made a deal with Dragoș Bîlteanu for SIF1 Banat-Crișana and SIF4 Muntenia to invest in the shares of the fund, which later acquired Bucharest Tower Center, in Victoriei Square, in which Dragoș Bîlteanu controlled 50% of the shares.
     Papalekas' letter comes as, on Friday, December 19th, he has informed the Globalworth board that the prosecutor has confirmed to him, following meetings that took place on Tuesday and Wednesday, that he was not the subject of any investigation.
     In the closing of the letter he sent yesterday, however, Papalekas says that he is confident the prosecutor will come to the conclusion he is innocent, in relation to this case: "Indeed, in the beginning of this week, (ed. note: of last week) we had a meeting with the prosecutor who is in charge of this case, upon his request, and in order to show my support for his inquiries. Considering that he still has full knowledge of the facts, I am confident that he will quickly come to the conclusion that I am not guilty of any of the presumptive charges against me and that he will take all the necessary measures, in order for me to be removed from any further investigation".
     In the beginning of his letter, Ioannis Papalekas calls upon the press to show "more caution" when it comes to the manner in which it reports on his own actions which are related to the current situation".
     He also said that Globalworth has always conducted its business with the utmost integrity: "Through this letter, I am trying to end the concerns that all of our investors, our many employees, directors and associates as well as our numerous suppliers and business partners are having. I am extremely proud of the fact that every company I've ever been associated with, including Globalworth, has always conducted their business with the utmost integrity and in compliance with the best internationally recognized standards and business practices".
     * "Neither me personally nor the company I work with have acquired any kind of rights in SIF Banat or SIF Muntenia "
     Ioannis Papalekas provides details on the relationship that he had with Dragoș Bîlteanu. He says that neither he nor the company he is a shareholder in have acquired any kind of rights in SIF Banat or SIF Muntenia: "It is true that Dragoș Bîlteanu was one of my business partners, exclusively in the real estate sector. The main transactions that we have both been involved in concern the acquisition and the development of the Upground Estates project, located in the Dimitrie Pompeiu area, and the Tower Center International project ("the TCI project"), of which the latter was mentioned in the press many times. My professional ties to Mr. Bîlteanu have significantly diminished over the years and, since 2008, the only common business project we had was the one that involved the TCI Project, in which I have acquired from him a stake of 50% in the year 2012. The circumstances of the accomplishment of this project were publicly reported by me, as well as by Globalworth on countless occasions in the past. Mr. Bîlteanu and me (each of us as owners of 50% in the TCI project) signed an agreement in July 2013, to sell the project to Globalworth. This aspect was completely and publicly disclosed in the IPO of Globalworth, as the sale was agreed subject to an independent evaluation, as was the case in all the similar transactions in which myself or an entity associated with me have been involved. I've always sought to provide a maximum of transparency when it comes to these aspects.
     The acquisition of the TCI project by Globalworth was completed in February 2014. It was in fact the last project that was transferred to Globalworth from the initial portfolio and its acquisition was financed using money made available by Swiss bank UBS. I want to clarify that the acquisition of this project has not been done using the funds raised from the IPO. Those funds were used to acquire other properties.
     Globalworth has always followed a number of conditions and special procedures when concluding any type of contract in which me or an associate of mine de contract are a contracting party and all of those conditions and special procedures are always complied with: (i) an independent evaluation, (ii) arm's length contracting and (iii) the making of the acquisition decision by the non-executive directors, meaning without my involvement. All of these procedures have been followed (and publicly reported) in connection to the TCI transaction, as has happened in every Globalworth transaction I had a personal interest in.
     Some of the articles published in the press mention a number of other individuals accused of having been involved in illegal activities together with Mr. Dragoș Bîlteanu. I have never met any of these people who are being indicted and I have not involved myself in any business or any other relationship with them. I can confirm that neither me nor any other company associated with me has ever made any kind of deal with SIF Banat or with any of its employees, its administrators or shareholders. As a matter of fact, SIF Banat has itself recently confirmed that it has never invested in Globalworth and has denied having traded shares in Globalworth, contrary to claims made in various articles published by the press. SIF Muntenia has indeed made an investment at the time Globalworth was listed, when it acquired 200,000 shares for a price of 5 euros per share, for a total value of 1,000,000 Euros. I do not know if SIF Muntenia still owns shares in Globalworth, but I can confirm that the price of the shares has remained above the price they were taken public at.
      I can confirm that neither myself as a person, nor the company I am an associate of have not acquired any kind of rights in SIF Banat or SIF Muntenia and neither have I concluded any deal with any of these entities, because, since my coming to Romania in the year 2000, I have made the decision not to get involved in the trading of stock and bonds on the Romanian exchanges".
     According to the businessman, Globalworth has invested approximately 700 million Euros in Romanian projects, in the last 18 months alone. 
 

 
Readers' comments    [ add a comment ] 
Trimite părerea ta.
Nume (maxim 50 caractere)
E-mail (optional)
Titlu (maxim 50 caractere)
Mesaj
 
REGULAMENTUL MESAJELOR
Acord
Prin trimiterea opiniei ne confirmați că ați citit regulamentul de mai sus și că vă asumați prevederile sale !
Aceeasi sectiune (English Section)
THE ROMANIAN DEVELOPMENT CONFERENCE STRATEGY / LÁSZLÓ BORBÉLY, STATE ADVISOR:
Ediții precedente
Newsletter Facebook Twitter YouTube LinkedIn RSS
175 milioane metrii cubi de apă
Jurnal Bursier
24.10.2018
BURSELE DIN LUME
     Bursele din Europa au scăzut, ieri, până la cel mai redus nivel din ultimii doi ani, din cauza tensiunilor diplomatice cu Arabia Saudită, a temerilor legate de bugetul Italiei și de negocierile de...  click să citești tot articolul
24.10.2018
BVB
     * Transferuri cu 8,35% din acțiunile Conpet, realizate prin piața "deal"
       * Transferuri cu 8,35% din acțiunile Conpet, realizate prin piața "deal"
     
     Piața principală a Bursei de Valori București (BVB) a ieșit în evidență, în ședința de ieri, printr-un rulaj de...  click să citești tot articolul
23.10.2018
BURSELE DIN LUME
     Bursele din Europa s-au înscris pe un curs ușor pozitiv ieri, pe fondul redresării pieței din Italia, generată de faptul că agenția de rating Moody's a informat că nu va retrograda imediat țara...  click să citești tot articolul
23.10.2018
BVB
     * Rulaj de doar 28 milioane de lei
       * Rulaj de doar 28 milioane de lei
     
     Piața principală a Bursei de Valori București (BVB) a înregistrat un debut pozitiv de săptămână din punctul de vedere al cotațiilor, șapte dintre cei nouă...  click să citești tot articolul
22.10.2018
     * Rulaj de 39,86 milioane de lei
     Șapte dintre cei nouă indici ai Bursei de Valori București (BVB) au terminat ultima ședință de tranzacționare a săptămânii ușor în teritoriul pozitiv, în contextul...  click să citești tot articolul
22.10.2018
     Acțiunile tranzacționate la bursele din Europa au urmat un curs negativ vineri, din cauza rezultatelor financiare dezamăgitoare raportate de unele companii din sectorul auto și cel al...  click să citești tot articolul
Cotații Internaționale

Curs Valutar

Curs valabil din data de 23 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...
AUD
BGN
CAD
CHF
CZK
DKK
EGP
EUR
GBP
HUF
JPY
MDL
NOK
PLN
RUB
SEK
TRY
USD
ZAR
BRL
CNY
INR
KRW
MXN
NZD
RSD
UAH
AED
HRK
THB
XAU
XDR
2.8801
2.3862
3.1040
4.0897
0.1808
0.6256
0.2269
4.6670
5.2812
1.4461
3.6223
0.2382
0.4911
1.0861
0.0622
0.4513
0.7023
4.0662
0.2830
1.1031
0.5862
0.0553
0.3578
0.2099
2.6677
0.0394
0.1447
1.1070
0.6282
0.1238
161.4068
5.6548
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
click aici pentru cursurile pieței valutare - istoric
English Section
22.10.2018
THE VENICE COMMISSION CLAIMS:
     * 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.  click here to read the entire article
15.10.2018
     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
12.10.2018
     * 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
01.10.2018
REPORT FROM ROME
     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
26.09.2018
THE ROMANIAN DEVELOPMENT CONFERENCE STRATEGY / LÁSZLÓ BORBÉLY, STATE ADVISOR:
     * "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
14.09.2018
MREPORT BY TRANSPARENCY INTERNATIONAL
     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
07.09.2018
DEPUTY VIRGIL POPESCU, VICEPRESIDENT OF THE COMMISSION FOR INDUSTRIES AND SERVICES
     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
05.09.2018
MRS. FIREA'S VERBAL BOMBS
     * "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
31.08.2018
     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
29.08.2018
     * 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
27.08.2018
     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
23.08.2018
     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
20.08.2018
THE NATIONAL MINERAL RESOURCES AGENCY, IN A NOTIFICATION TO THE PRIME-MINISTER:
     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
15.08.2018
      * (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
08.08.2018
     * (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
.