English Section

Following the recent articles on the status of the management of Sibex, I want to make the following mentions in order to make it clear how the events unfolded:

The port of Constanţa Sud - Agigea entered the second phase of the "general cleanup". Over 120 border policemen, customs officers and gendarmes checked the merchandise containers yesterday, to determine the existence of contraband and tax...

The National Authority for the Restitution of Properties (ANRP), the institution which manages the compensation process and issues conversion deeds at the Proprietatea Fund, is being targeted by the prosecutors of the National Anti-Corruption...

The Ministry of Justice and the World Bank are preparing a draft for the creation of an Insolvency Code. Romania will be the second country in the world, after the US, to have such a code, said Arin Stănescu, the president of the National Union...

The internal elections of the Democrat Liberal Party failed to bring peace to the party led by Emil Boc.

The price of "Fondul Proprietatea" (FP) shares yesterday fell to a new low of 0.48 lei, trading even lower than the last unofficial price of December 2010, at which they were exchanged at the Central Depository.

A savage dance intended to defeat the law and decency has begun yesterday morning, around the Sibiu Exchange - Sibex, when, after the publication of an article in BURSA, a report was put up on the website of Sibex concerning a rectification of...

The European Commission opened two in-depth investigations, based on the EU regulations concerning state aids, concerning a support scheme for investing in the regional airports of Romania and to establish if certain discounts and rebates that...

"Organe de Asamblare" Braşov ended the year 2010 with a turnover of 17.192 million lei, two times higher than in 2009, when it only amounted to 8.555 million lei.

Kronospan Romania, which holds factories of Oriented Strandboards in Braşov, Sebeş and Constanţa, has planned investments of 100 million lei (approximately 25 million Euros) in order to increase the output of the plant of Braşov, said Oana Bodea,...

The extension of the trading program on the derivatives market of Sibiu until 23:15, when the options and derivatives close in the United States, was going to be put up for a vote in the meeting of the Board of Directors of Sibex yesterday.

PDL senator Mircea Banias has been indicted by anti-corruption prosecutors on charges of influence peddling. The division for fighting corruption of the National Anti-Corruption Department (DNA) is investigating the PDL senator of Constanţa,...

Tomorrow, the Romanian Commercial Bank (BCR) will launch two investment certificates which track the evolution of silver, amid interest from its customers, as the price of the metal has significantly climbed over the past year.

The portfolio of the group New Europe Property Investments (NEPI) includes 33 retail, office and industrial properties in Romania and Germany, with a value of 313.7 million Euros, of which 27 are located in Romania, valued last year at more than...

The stock of VES Sighişoara had a surprising evolution over the past two weeks, with prices experiencing swings of plus/minus 15% for several days in a row, without any news about the company"s development plans that would have justified such...

Boy, was I ever proud of predicting the outcomes of the two general shareholder meetings of the two Exchanges! Except now, I"m feeling rather embarrassed that I can"t explain what"s happening at Sibex.

Romania is a country that has no cadastre for most of its farmland, and potential investors aren"t doing business in the Romanian agricultural sector because there are no deeds of ownership, former presidential advisor Theodor Stolojan said...

Yesterday, the European single currency gained slightly against the dollar on the international markets, after the managing director of the International Monetary Fund (IMF), Dominique Strauss-Kahn, decided to resign.

Boy, was I ever proud of predicting the outcomes of the two general shareholder meetings of the two Exchanges! Except now, I"m feeling rather embarrassed that I can"t explain what"s happening at Sibex.

The fate of Over- the-Counter trading (OTC) on the Romanian capital market may be settled at the next General Shareholder Meeting of the Central Depository, scheduled for the end of this month, said Valentin Ionescu, the General Manager of the...

The bonus schemes for investments in the generation of thermal and electrical energy using high efficiency cogeneration, became functional this year.

Avicola Braşov, specializing in the production of poultry, announces a loss of 2.8 million lei in Q1 2011, after posting s profit of 397,000 in Q1 2010.

Hidromecanica SA, specializing in the production of engines and turbines, ended the first quarter of 2011 with losses of 1.647 million lei, down 33% YOY, from 2.445 million lei.

Even though the capitalization of the Bucharest Stock Exchange (BVB) would be increased by almost 50%, to 25.4 billion Euros, after the listing of minority stakes in the state owned energy companies, as well as through the exhaustion of the...

Yesterday, the US was about to reach the debt ceiling set by the Congress, which stood at about 14,300 billion dollars.

Teodor Ancuţa was suspended yesterday from his position as president of the Sibiu Exchange, by the former Board of Directors of the company, as the members of the new Board that were elected at the end of April will have to wait a while to take...

Under the pretense of avoiding potential abuse of the procedure to compensate former asset owners, the Government recently snuck by a Decision which actually leaves the door wide open for further abuse, by stipulating that the National Authority...

The fight for the top position of the Sibiu Exchange moves to the courtrooms, just two weeks after Cristian Sima successfully replaced Teodor Ancuţa at the top of Sibex and the shareholders of the company elected a new Board of Directors.

The former investors in the National Investment Fund (FNI) will no longer be allowed to freeze the accounts used for paying the wages of the employees of the Authority for the Recovery of State Assets (AVAS), after the Government issued an...

Former asset owners who were despoiled by the communist regime may have to wait two more months to receive their shares in the Proprietatea Fund, according to some government sources.

In Q1 2011, UniCredit Ţiriac Bank posted a net profit of 34 million lei, down 47%, over the same period of last year, according to the International Financial Reporting Standards (IFRS), the press release of the bank states.

The development of the domestic telephony market is being spurred by the recent moves made by "Cosmote" (the acquisition of "Telemobil" and the merger with "Romtelecom"), as well as by the consolidation of the cable...

The Euro fell yesterday on the foreign markets, against most of the major currencies, amid speculation that European leaders aren"t exactly happy to provide new financial aid to Greece, fueling worries over the restructuring of the...

The shares of "Oltchim" gained 15% yesterday, in the first hours since the opening of the trading session, to the surprise of many investors and brokers, as the conditions of the draft of the Letter of Intent of the IMF published...

The elections for the leadership of the PDL (Liberal Democrat Party), which will take place at the end of this week, can"t do anything to change the structure of the government of Victoriei Square.

The Romanian energy sector seems to be drawing increasing attention from the international financial institutions, such as the International Monetary Fund, which recently announced, the sale of minority stakes in "Hidroelectrica" and...

Reporter: You have announced that the Romanian authorities will begin the privatization of state owned companies this year, including "Nuclearelectrica" and "Hidroelectrica".

The request of Arad-based maker of counters Contor Group to enter insolvency was approved by the Court of Arad. The request to enter insolvency was filed on April 19th, as a result of the contraction in the company"s business.

Braşov-based IAR Ghimbav ended the first quarter of 2011 with a turnover of 35.5 million lei, more than double compared to Q1 2010 (16.5 million lei).

The oversights in the new mechanism to be used for issuing new conversion deeds for shares in the "Proprietatea Fund", starting with May 2nd, allows the depreciation of the compensation awarded to former asset owners.

The Bucharest Stock Exchange (BVB), the majority shareholder of the Central Depository, has proposed the payout of 6.3 million lei in dividends out of the profit for 2007 of the institution, according to sources who did not wish for their names...