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26 ianuarie 2012

Alstom will build a unit for reducing pollution at a price of 53 million Euros at the Craiova Energy Complex

Alstom Power Italia, of the French group Alstom, will built a unit for the desulphurization of exhaust gas valued at 227.5 million lei (53.3 million Euros) for two energy blocks of energy producer "Complexul Energetic Craiova".

SNC-Lavalin announces a contract of 48 million dollars at the Cernavodă Nuclear Plant

On Tuesday, SNC-Lavalin (TSX:SNC) of Montreal announced that its branch SNC-Lavalin Nucléaire won a contract of approximately 48 million dollars with the Nuclearelectrica National Company (Societatea Naţională Nuclearelectrica - SNN) of Romania, according to the national radio station Radio-Canada, quoted by Mediafax.

The USA gets involved in the compensation of former asset owners

American experts have advised the government in elaborating the draft of the law concerning the compensation of owners of properties who were abusively seized by the Communist regime, according to Mark Gitenstein, the US ambassador to Romania.

Stock market investors ask the Ministry of Finance to introduce annual taxation

Stock market investors are asking the Ministry of Public Finance (MFP) to change the methodology used for the taxation of stock market gain.

ONE YEAR AFTER THE LISTING,Mark Mobius hopes the shares of Proprietatea Fund will reach 1 leu

One year after the listing, the shares of the "Proprietatea Fund" are trading at a 60% discount compared to the NAV. However, Mark Mobius, the CEO of "Templeton Emerging Markets Group" hopes that this discount will shrink in the future, and even better, that someday the price will exceed the NAV.

1 Euro5.0881

1 Fr. elveţian5.4655

BNR

1 Liră sterlină5.8273

BNR

1 Dolar SUA4.3364

BNR

1 Gram Aur614.9369

BET24046.73

BET FI91349.56

BET NG1772.6

"Philip Morris" to invest 1 million Euros in the plant of Otopeni

"Philip Morris" Romania will invest 1 million Euros in the modernization of its plant of Otopeni, by installing a new energy efficient cooling unit, according to a press release sent to our editors.

3 million Euros to be spent on modernizing the presidential room of the "Henri Coandă" airport

The National Airport Company of Bucharest (Compania Naţională Aeroporturi Bucureşti-CNAB) will spend 13.2 million lei (3 million Euros) on modernizing the presidential room of the "Henri Coandă" airport, according to the company's...

Varujan Vosganian, Ionuţ Popescu, Mircea Ursache

wHAT THE FORMER MANAGERS OF THE FUND ARE SAYINGEach of them has a different opinion

Varujan Vosganian, former Minister of the Economy and Finance, considers that the Proprietatea Fund had some positive effects by providing good liquidity and high number of transactions, but the shareholders are unhappy with the price of the...

THE PROPRIETATEA FUND - One year after its listing

From the very first year of trading on the stock exchange, The Proprietatea Fund became the star of the Romanian stock market.

FOR THE FAILURE TO CARRY OUT THE CONTRACTUAL TERMS,"Electrica" demands 50 million Euros in damages from E.ON

Due to failure to meet contractual clauses, "Electrica" is demanding 50 million Euros in damages from E.ON, which bought a branch of Electrica in 2005, said Ioan Folescu, the general manager of "Electrica".

AFTER RELOCATING TO THE INDUSTRIAL PARK"Teraplast" wants to sell its real estate assets

Interview with Mr. Ştefan Bucătaru, president and CEO of the company

The new Board of Directors of the Bucharest Stock Exchange is postponing its validation

The new management of the Bucharest Stock Exchange doesn't seem to be in any hurry to be validated by the Romanian National Securities Commission (CNVM), even though two weeks have already elapsed since the elections.

Competition between the interest rates for short-term and long term deposits

Some of the smaller players in the banking system, in terms of their assets, are trying to attract deposits from their customers, by paying higher interest on short term deposits, compared to the short term ones.

SHOCK AMONG THE ROMANIAN BANKERSRobert Rekkers unexpectedly resigned from Banca Transilvania

Last weekend, Robert Rekkers resigned from his position of general manager of Banca Transilvania (BT) and from the Board of Directors of the bank, after almost 10 years of activity, without providing an explanation for his decision.

"Ranked the fourth biggest company specializing in financial leasing services in Romania, VB Leasing had a positive evolution over these past few years, and its financial results are all the more impressive, when one considers that they were achieved in a very difficult socio-economic and financial context", Liviu Şerban says.

Turnover of VB Leasing has increased 6%

VB Leasing Romania, part of the European Financial Group VB Leasing International Holding GMBH, ended the year 2011 with a turnover of about 90 million Euros, up about 6% compared to 2010, said Liviu Şerban, managing director of VB Leasing...

Lawyers: The state may grant damages for the losses suffered during the protests

In the event that insurance companies refuse to pay damages for vehicles or other assets which were damaged during the protests, in cases where insurance policies do not cover riots or strikes, the Romanian government may grant damages for losses...

"FITCH RATINGS":It is difficult for the Austrians to maintain their banking operations in Central and Eastern Europe

Financial ratings firm "Fitch Ratings" yesterday warned that the attempts of the major Austrian banks to meet the capital requirements f the European Banking Authority (EBA), by mid-2012, could have negative consequences for their...

One capital and two protests

Yesterday, a few thousand protesters attended the meeting hosted by the USL in the Triumph Arch area. At the same time, a few hundred people were protesting in the University square.

Dinu Patriciu, at the time of the inauguration of "Mic.ro": "The < < Mic.ro > > network is designed to destroy the retail trade which we slavishly imported from the West. If I had one wish, it would be to see all them (ed. note: the major retailers) kick the bucket. (...) Supermarkets and hypermarkets are destroying traditional retail. I hope that Romanians will only go shopping in major stores, once a month, perhaps even less frequently, and buy from grocery stores otherwise. I think that this is the course that our economy must return to. For over 20 years, by slavishly imitating foreign systems, we have perverted our traditional spirit, which had disappeared in the last 50 years anyway".

THE EMPLOYEES OF MIC.RO HAVE BEEN INSTRUCTED NOT TO MAKE ANY STATEMENTS, BUT THEIR FACES BETRAY THEIR CONCERNCoface: The state of the balance sheet of "Mic.ro" suggests is an argument against extending commercial credit to the company

The controversial business "Mic.ro", controlled by magnate Dinu Patriciu, seems to be nearing its end - shuttered stores, and empty shelves in the "groceries" which haven't yet displayed the "CLOSED" sign, salespersons...

"PDL, USL - same garbage!"

Riding the statues of Miţa, Zoe and Didina, lying in front of the National Theater, a football fan was waving the flag of the revolution, so the bunch of TV reporters would notice him and put him on TV, even though there were about 80% less...

"It would be a good thing if the people in charge revised their attitude as to the approach of the royalty while there is still time, before that investor goes the way of Nokia, Tnuva or of other major investors who left Romania", Ionel Blănculescu said.

Ionel Blănculescu: We are the only country in the world that says "no" to mining

Reporter: What is your opinion on the mining project of Roşia Montană?

TO PREVENT THE WITHDRAWAL OF BANKS FROM EASTERN EUROPEEurope proposes a new "Vienna initiative"

Countries in Central and Eastern Europe, the authorities of the European Union (UE) and the international financial institutions will attempt to prevent the mass exit of Western banks from the emerging currencies in the region, as part of a new...

Three consortiums have submitted bids for the intermediation of the listing of Romgaz on the BSE

Three consortiums which include major financial groups - JP Morgan, Goldman Sachs and Citibank - as well as brokerage firms, have yesterday submitted bids at the headquarters of the OSPI for the intermediation of the listing of Romgaz on the...

Oltchim, in the dark

• Ioan Folescu - "Oltchim owes about 150 million Euros"

Loan arrears rising from one month to the next. What is next in 2012?

The loan portfolio of banks is deteriorating from one month to the next, as layoffs, wage cuts and the exchange have been affecting the debtors' ability to repay their loans since 2009.

RUMORS, GOSSIP, AND BACKDOOR INTRIGUEThe Bermuda's square of Raiffeisen Bank

All sorts of rumors have been going through and around Raiffeisen Bank Romania.

The price of fuel rises again

Yesterday, "OMV Petrom" has raised the price of fuel by 3%, or 9 bani per liter.

Brokers: Great expectations for the dividends of the SIFs cause their stocks to rise

Brokers say that one of the reasons the stocks of the five SIFs have risen over the past two days, is the fact that investors have high hopes over the dividends which will be paid out this year.

THE AUSTRIANS DON'T WANT TO GIVE UP:Austrian banks will limit their exposure to Eastern Europe

Austria will impose the norms designed to enhance the safety of the financial system, by forcing major Austrian banks to reduce their lending to banks in emerging Europe, in spite of discontent in the region, according to sources close to...

THE 5% HOLDING LIMIT FOR THE SIFS HAS BECOME OFFICIALThe SIFs say they will not summon a special shareholder meeting to change the articles of incorporation of the five SIFs

The law concerning the holding limit in the SIFs from 1% to 5%came into effect after being published in the Official Gazette on Tuesday.

The management of SIF Moldova is considering a share capital increase

The shareholders of SIF2 Moldova may be summoned to decide on a share capital increase and to revise the articles of incorporation, the company's Board of Directors announced in a press release sent yesterday to the Bucharest Stock Exchange.

The new year begins with a "concert" of banks operating in Eastern Europe, in Vienna.

THE E17 CONFERENCEAustrian banks feeling wary when it comes to Eastern Europe

A deputy governor of the Romanian National Bank (NBR), together with other banking officials of 16 European countries, yesterday attended a conference in Vienna, to discuss the issue of the capitalization of banks in the Eurozone and the...

ERSTE REPEATS THE CLAIM OF FRANKLIN TEMPLETON : "The unlisted companies in the portfolio of the Proprietatea Fund make it less attractive"

"Fondul Proprietatea" (FP) is far from being a "bargain" for investors, the analysts of "Erste Group Research" say, as they their target price for the fund's stock by 30%, to 0.51 lei/share.

THE RUMOR MILLThe question of the day: Who will be the manager of the Bucharest Stock Exchange?

Who will be the new manager of the Bucharest Stock Exchange is the question everyone is looking for an answer to, after the shareholders elected a new Board of Directors on Monday.