English Section

The lies of Daniel Ţepeş, or - as the press called him - the "biggest shareholder of the Bucharest Stock Exchange", began as follows:

The shareholders of "INAR" Braşov last week revoked three of its members of the Board of Directors, whereas two other members had resigned earlier from their positions.

The Bucharest Stock Exchange lies at the bottom of the chart of European exchanges, together with the Exchange of Cyprus and that of Ljubliana, meaning that the terrible struggles over the positions on the boards of the various institutions of...

A study by Erste Bank states that there is an extremely high chance of the price of properties in Eastern and Central Europe entering a period of sustained increase.

The shareholders of construction materials maker "Cemacon" Zalău, did not approve the 6.1 million lei increase of the share capital of the company, from 24.4 million lei to 30.5 million lei.

Cardboard and paper maker "Vrancart" Adjud, will borrow 17.2 million Euros, which it will guarantee by pledging its assets, a move which was approved by its shareholders this week. The company did not announce the intended use of the loans.

The Ministry of Public Finance plans to expand the range of options available for the placement of its bonds. In its desire to lower the cost of its borrowing, it is considering tapping into the American market in the beginning of 2011.

The Ministry of Finance wants to take away from the Proprietatea Fund its future earnings from the claims that it has on Romania"s foreign creditors.

The managers of the private clinic Genesys of Arad expect to have a turnover of 3 million Euros this year and a number of 20,000 patients, as citizens turn to private clinics for healthcare services.

The shareholders of drug distributor "Medimfarm" Ploieşti, have decided to extend the mandates of the members of the Board of Directors by another year, until September 21st 2011.

Thousands of members of the CNSLR Frăţia union protested yesterday in Bucharest against the austerity measures adopted by the government.

Retailer demand for new retail locations remains low across all sectors.

Next year, Romania will sign a new loan agreement with the International Monetary Fund (IMF), president Traian Băsescu said in his speech before the Parliament.

The possibility of having some of the trading from the BSE move to the over-the-counter (OTC) market, after the Board of Directors of the Central Depository decided to settle the trades without going through the market"s screens, has caused...

Law firm Ţuca Zbârcea & Asociaţii yesterday announced that it has signed a partnership agreement with the leading business lawyers firm of Chişinău - Ţurcan & Ţurcan.

The secondary offering for the 10.78% stake that SIF "Transilvania" holds in "Siretul" Paşcani which was held between April 21st and September 15th, failed.

Without waiting for a final decision of the Romanian National Securities Commission (CNVM) on the statute of the Rasdaq, The Bucharest Stock Exchange has decided to "grab the bull by the horns" and has begun to send notifications to...

Part of the measures implemented ten years ago by the Austrian authorities to help the Stock Exchange of Vienna recover can be adopted by the domestic capital market as well, to help reinvigorate it, considers Richard Schenz, the vice-president...

The Central Depository of Bucharest, one of the most important institutions of the domestic capital market, made a profit of 2.31 million lei (approximately 550,000 Euros), in the first semester of 2010, up 457% YOY, according to statements made...

Russian giant "Gazprom" has been fighting other heavyweights of the energy industry for years, over the right of intermediating the sale of Romania"s carbon emission certificates, a deal which is estimated to exceed 1 billion Euros.

The management of "Romgaz" is hoping that the company will become an active player on the Natural Gas Exchange of Vienna, from which it hopes to buy natural gas starting with June-July 2011, if this solution proves economically viable.

(Interview with Cristian Sima, the head of brokerage firm WBS Romania)

Prices of high-class wines experience frequent fluctuations, and can change daily, said Cristian Preotu, the representative of wine importer "Le Manoir": "There are even brokers in this area, there is a permanent < exchange...

The shareholders of Ropharma Braşov, a company specializing in the distribution of drugs, have approved the transfer of the stock from the Rasdaq market to the 1st tier of the Bucharest Stock Exchange.

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.

To avoid giving the impression that the court would discriminate in favor of Vîntu, the computer of the Court of Appeal of Bucharest was used to randomly select the three judges that would try his appeal against the decision of his temporary...

The European Commission yesterday brought legislative proposals to strengthen the regulation of derivatives, for a better regulation of derivatives transactions and short sales.

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.