English Section

The Board of Directors of SIF "Oltenia" will be summoned on September 24th, to appoint a new interim manager for the company, after Margareta Racoviţă resigned, according to a communiqué sent to the Bucharest Stock Exchange.

The delivery of fuel to the state is an alternative that the Kazakhs of Rompetrol are already negotiating with the authorities, in order to pay back their outstanding debt, of more than 500 million Euros.

The final investment decision for Nabucco pipeline project will be made by the six shareholders after gas supply contracts will be concluded and transport contracts will be negotiated with the traders.

In yesterday"s meeting, the shareholders of "Rompetrol Rafinare" approved on principle the mortgaging of several of the company"s assets, even though since Friday, they have been placed under distress by the National Tax...

German company Continental, specializing in the production of tires, will open a small factory next year, which will employ approximately 80 people, in the Cristian commune of the county of Braşov.

With a low market share, the wines produced by the "Ştirbey" belong to the "premium" and "super premium" segments, and are sold to restaurants, hotels and specialized wine shops, either via various distribution companies,...

Businessman Adrian Augustin Baciu will put up for sale several hotels and plots of land in the cities of Cluj-Napoca and Turda.

According to a statement issued yesterday, the judge has overruled all the objections of the three lawyers of Sorin Ovidiu Vîntu, Octavian Turcan and Alex Stoian against the preventive arrest of the three defendants, who were allowed to appeal...

On September 24th, the Administration of Public Finance for Medium Sized Taxpayers of Braşov will hold an auction for the sale of six assets of the company Upruc UTCH Făgăraş, with a total combined value of approximately 5.1 million lei.

Train carmaker "Astra Vagoane Călători" of Arad has won the tender for the manufacturing of 50 cars for the Czech Republic. Valer Blidar, the owner of the company, says that all of the company"s products meet the requirements of any...

Consumer prices have increased slightly (0.23%) in August, compared to July, and the annual inflation rate climbed to 7.58%, the highest level of the last two years, according to data from the National Statistics Institute (INS).

The loans in Swiss Franks, which were heavily "pushed" by the low interests they offered three years ago, are now a cause for major concern among those who used them.

Traian Băsescu has got the drop on Sorin Ovidiu Vântu and isolated him first, before being himself isolated on the political scene (like Vântu suggested in his last interview - "BURSA" of August 9th).

On October 8th, the shareholders of Fabrica de Zahăr Bod will hold an extraordinary meeting to discuss whether the company should get involved in the incorporation of a company called FZB Zahăr Cristal SRL.

"Vodafone Group" Plc, the world"s largest mobile telephony operator in terms of sales volume, sold its 3.2% stake it held in "China Mobile" Ltd., the largest telecom company in China for 6.6 billion dollars.

The political experiments with the reorganization of the Romanian Post Office are costing us millions of Euros, while it is sinking deeper into debt.

It seems as if Andreea Paul Vass, advisor to the PM on economic issues, is doing her best to embarrass him, by throwing around figures pulled out of thin air, in a domain which requires high specialization: the state budget.

Romania will be able to borrow up to 181 million Swiss Franks for financing programs and projects, and Bulgaria will receive 76 million Swiss Franks for the same purpose, until December 2014, according to a press release by the Swiss Embassy of...

Businessman Ştefan Vuza, which controls Someş Dej through the Servicii Comerciale Române (note:Romanian Commercial Services) group, wants to sell the cellulose and paper maker due to the crisis. The group is currently negotiating a partnership...

Leasing companies have begun recovering from the economic crisis, after their business experienced significant stagnation last year, experts say.

Mark Mobius, the head of Franklin Templeton, the company that will manage the Proprietatea Fund, yesterday said he will be free to make his own decisions concerning the management of the Fund, and the committee of representatives will only have...

The replacement of the Minister of Finance could cause the General Meeting of the Shareholders of the Proprietatea Fund which was scheduled for today, as the absence of the officials of the Ministry was needed to assure the quorum.

On Friday, Mircea Botta, the vice-president of the Bucharest Stock Exchange, withdrew his candidacy for a seat on the Board of Directors of the Central Depository, acknowledging the validity of the notification that the Association of Brokers had...

A complaint about the unfair practices of the Central Depository seems to have reached the Competition Council, as illustrated by the official response received following a request of our paper.

Six brokerage firms intend to request the use of cumulative vote method at the General Shareholder Meeting of the Bucharest Stock Exchange (BSE) summoned for September 10th/11th, when the short list of favorites of the Exchange for the presidency...

(Interview with lawyer Gheorghe Piperea, professor of commercial law)

The player (that sometimes seems to be the president of the country) has announced the prime-minister (that never looks like the prime-minister he is supposed to be), that he"ll be sitting on the sidelines for a while, during the talk that...

"Metrorex" will allocate 36.61 million lei for feasibility and preliminary feasibility studies for the Fourth Subway trunk line between Gara de Nord-Progresul, according to an announcement made by the company, quoted by Agerpres.

Turnover of Bucharest-based construction company Cominco, specializing in construction, dropped 9.6% YOY in the first semester, from 43.3 million lei in H1 2009 to 39.1 million le.

A complaint about the unfair practices of the Central Depository seems to have reached the Competition Council, as illustrated by the official response received following a request of our paper.

Six brokerage firms intend to request the use of cumulative vote method at the General Shareholder Meeting of the Bucharest Stock Exchange (BSE) summoned for September 10th/11th, when the short list of favorites of the Exchange for the presidency...

The state owned company that handled the promotion of the Regio program (The Romanian Regional Operational) used a logo which bears a striking resemblance to the emblem of the Spanish Professional Football League.

After lowering our revenues, the crisis could leave us with a smaller number of towns.

In the first semester of 2010, the net profit of the Romanian National Securities Commission (CNVM) edged slightly above 1 million lei, after it had posted a loss of 10 million lei in the first six months of 2009, according to information...

Braşov-based company INAR SA, the only research institute for road vehicles in Romania, last year posted a loss of 392,971 lei, after posting satisfactory earnings in the previous years.

In the first semester of 2010, "OMV Petrom" invested around 1.8 million Euros in marketing, in particular in the rebranding of the PetromV stations. The total investments in gas stations for this year amount to approximately 4.9 million...

The approval of the mandate for the creation of the strategy for the privatization of the "C.F.R. Marfă" division of the Romanian Railways Company will be discussed on Thursday, at the headquarters of the Ministry of Transport and...

Even though the contraction of the economy was felt strongly last year by the Second Pillar of the mandatory pensions, leading to the low number of participants and the drop in collected pensions and the reduction in raised amounts, the private...

Much ado about nothing.

Given the fact that the main issue the Bucharest Stock Exchange is the lack of investors, leading to a very low turnover, Valentin Ionescu, the new managing director of the BSE, says he will try to increase trading volume and make the market more...