English Section

24 mai 2012

Kazakh investments in Romania exceed 3 billion dollars

The investments made by the Kazakh companies in Romania amount to three billion dollars, the biggest investment made by the Kazakh state in Europe, Talgat Kaliyev, Business Director of the Embassy of the Republic of Kazahstan in Romania said at the Academic and Diplomatic Conference "Romania - Kazakhstan 20 years of diplomatic relations.

Losses of Vienna Insurance Group in Romania fell to 2.7 million Euros at the end of Q1

Insurance companies owned in Romania by Vienna Insurance Group recorded gross subscribed premiums of 134.5 million Euros, down 7% over the corresponding period of last year, and the losses of the group on the Romanian market fell to 2.7 million Euros.

ROMANIA-RUSSIAStrategic Russian investments in Romania

• "Mechel" has 7,000 employees in Romania

Russian group "Mechel" entered the Romanian market in 2002 and currently owns the plants Mechel Câmpia Turzii (INSI), Mechel Târgovişte (COS), Ductil Steel Otelu Rosu, Ductil Steel Buzău, Laminorul Brăila and Mechel Reparaţii Târgovişte.

"Facebook" shares fell 20% over the last two days.

THE "FACEBOOK" IPO - INVESTIGATIONS AND SOPHISMSBubble in America

The launch of the probe into the IPO of "Facebook" looks imminent, following the opinions expressed by the officials of the Securities and Exchange Commission (SEC) and of the Financial Industry Regulatory Authority, Inc. (FINRA), putting pressure on the company, its main underwriter "Morgan Stanley" and on the Nasdaq market, as reported by Reuters.

FROM THE SHAREHOLDERS OF ERSTE:"BCR could turn into a bottomless pit"

The General Meeting of the shareholders of Erste Bank, which was held last week in Vienna, was tense and lasted about twelve hours, according to stock market sources, who claim that the founding members of Erste protested, demanding the honoring of their right - established through the bylaws of the company - to receive 8% of the capital that they have invested, regardless of the evolution of the bank.

1 Euro5.0889

1 Fr. elveţian5.4787

BNR

1 Liră sterlină5.7655

BNR

1 Dolar SUA4.3980

BNR

1 Gram Aur581.2510

BET23124.12

BET FI90187.45

BET NG1720.63

Leonard Orban: The successive managements of the Management Authority are to blame for the irregularities which were uncovered.

ALL THE POSDRU PAYMENTS MAY BE SUSPENDED, DUE TO VERY SERIOUS IRREGULARITIESPonta: We may lose 1.2 billion Euros of European funds

The merger of Alpha Bank and EFG Eurobank - cancelled

• Yannis Costopoulos: The high capital requirements would have led to the nationalization of the entity resulting from the merger

Hiking the VAT has slowed down the recovery of the Romanian economy

• Interview with Sebastian Vlădescu, former minister of Finance

Isar: "We are adjusting the stock exchange privatization program to earn more money"

The Ministry of the Economy will make adjustments to the program for the privatization of the energy companies to earn more from them.

Bailing out banks has created a moral hazard

• Interview with Jörg Guido Hülsmann, professor at the University of Angers

LEONARD ORBAN:Greece's exit from the Eurozone will be on the table of the European Council on May 23rd

The Minister of European Affairs, Leonard Orban, yesterday said that the option of Greece's exit from the Eurozone will be placed on the table of the European Council for the first time, at the informal reunion scheduled for May 23rd, in...

Radu Gheţea: The Greek banks in Romania are solid

BLACK SEA DEFENSE & AEROSPACE 2012Eurocopter Romania will present two helicopters - EC 135 and TIGER

Between May 16th and May 18th, Eurocopter România, a joint-venture between the Eurocopter group and IAR Ghimbav, controlled by the Romanian state, will participate in the third edition of the Black Sea Defense & Aerospace 2012 (BSDA) fair,...

Nicolae Cinteză: I have received no information that the Greek banks have withdrawn money from Romania

• In just one day, the Greeks have withdrawn over 700 million Euros from bank deposits

Grigore Chiş: "We have asked the BSE to extend the trading schedule until 23:00 hours".

AFTER SIBIU,Dow Jones arrives in Bucharest

TYLER COWEN:Greece will run out of money within a year at most

Teodor Ancuţa: "Sibex is no longer a danger for the BSE"

EUROPEAN GRANTSThe first buffalo farm in the county of Arad is active in the town of Pecica

The first buffalo farm has been built in the town of Pecica, in the county of Arad, near the Natural Park "Lunca Mureşului", following an investment of 600,000 Euros.

When asked about the measures which the Government would take if the depreciation of the leu were to continue, Victor Ponta said that there are ongoing talks on that subject between the NBR and the Government: "It is an important subject and I would prefer it if you received the statement of the NBR on the importance of the Greek bank equity in Romania, compared to their influence on a European level, and what is going to happen on a European level".

The leu at its lowest against the Euro, worries at their highest

The Directorate of BCR Pensii, fined by the CSSPP

Three members of the Directorate of BCR Pensii were sanctioned by the Commission for the Oversight of the Private Pension System, due to operational problems (CSSPP), Mircea Oancea, the president of the Commission said, in an interview.

Alexandru Sârbu (Transletd by Cosmin Ghidoveanu)

THE LETTER OF THE GOVERNMENT TO THE IMF INCLUDES GOODS NEWS FOR INVESTORS:The payment of taxes on capital gains, to be simplified by next month

Investors will soon be spared from having to go to the offices of the tax administration to pay their taxes on capital gains, according to the draft of the letter of intent to the IMF, obtained exclusively by the BURSA newspaper.

THE GOVERNMENT TO THE IMF:The clawback tax helped the state budget raise 282 million lei

The clawback tax in the pharmaceutical sector, which was introduced in the beginning of Q1 2012, has earned the state budget 282 million lei, money which will be fully used to pay the unrecorded invoices found during last year's stock taking,...

Split-screen broadcasts: Alexandru Lăzescu, Dan Radu, Lucia Hossu Longin, Claudiu Lucaci.

The Romanian State Television, the war over bankruptcy

On May 3rd, that is one week after the passing of the vote of no-confidence which brought down the government, the Board of Directors of the TVR had a meeting and its members decided, upon the suggestion of Claudiu Brânzan, board member...

The heads of Microsoft Romania prefer investment funds

When it comes to their savings, two managers of "Microsoft Romania" say that they prefer mutual funds rather than direct investments in the stock market, mostly due to their risk profile.

Investors: The price from the takeover bid for "Protan" is unfair

The price of the mandatory takeover bid of "Protan" Bucharest (symbol: PRON) was not fairly set, the Association of Capital Market Investors (AIPC) considers.

MAN CHANGES THE ENVIRONMENT (NOT ALWAYS FOR THE BETTER)Bucharest, somewhere in Europe

"Good evening Budapest!", is the greeting which automatically gets the people of Bucharest riled. It has been heard in many pop - rock concerts which took place on the shores of Dâmboviţa and has sparked reactions from angry booing to...

Braşov, one of the possible locations for an investment by Deutsche Telekom

Over 1,000 jobs in the IT and telecommunication area might be created in Braşov over the next three years, if the board of the German company T-Systems International GmbH, one of the global divisions of Deutsche Telekom, decides to open a branch...

EXCLUSIVThe lawsuit of "Roman Copper" is blocking the privatization of "Cupru Min"

The Romanian authorities did not notify "Roman Copper" concerning the current status of the privatization process of Cupru Min.

RECORD PROFIT IN THE FIRST QUARTERSales of fuel will be spurred by the industry and the wage hikes

Fuel sales of Petrom dropped during the first three months of the year due to the unfavorable weather conditions of January and February.

Vladimir Putin that he only has one ambition, namely "the stable development" of a country which he has already succeeded in leading away from the state it was in in the "90s and restore its major power status.

4 CHANGES: VLADIMIR PUTIN, THE THIRD APPOINTMENTRomania, a priority for the development of Gazprom

The regional expansion of the business is a strategic point for NIS, a subsidiary of "Gazprom Neft". Romania is one of the countries which represent a priority, which presents a promising avenue for development, according to the...

All of a sudden, the Ponta government changed its tune to that of the IMF

The Ponta government no longer changed the targets assumed by the Ungureanu government when it comes to the privatizations in the energy sector and the private management implemented in companies subordinated to the Ministry of the Economy.

Romanian exporters need to be beyond reproach to access Japan

Reporter: What is the current stage of the relation between Romania and Japan?

ROMANIA-RUSSIA: IN OCTOBER 2011,"Gazprom" has expressed its willingness to sell natural gas to Romania directly

In October 2011, "Gazprom" CEO Aleksei Miller announced the company's willingness to give a positive answer to the requests of the Romanian party to establish direct contractual relations fro selling natural gas to Romania, by...

4 CHANGES: VLADIMIR PUTIN, THE THIRD APPOINTMENTRomania, a priority for the development of Gazprom

The regional expansion of the business is a strategic point for NIS, a subsidiary of "Gazprom Neft".

Trade surplus of 251 million dollars in the relation between Romania and the USA

After several years where Romania has seen a deficit in its foreign trade with the USA, last year, it has seen a trade surplus of 251 million dollars in the bilateral relations between the two countries.

HORIA CIORCILĂ, BANCA TRANSILVANIA:"We are at an advanced stage of the talks for the selection of the new CEO"

Banca Transilvania is at an advanced stage of the talks to select a new CEO, after the position remained vacant, in the beginning of this year, after the resignation of Robert Rekkers, Horia Ciorcilă, the chairman of the Board of Directors of BT,...

Albania is in the top 10 most popular tourist destinations

Interview with His Excellency Mr. Sami Shiba, Ambassador of the Republic of Albania in Bucharest

Football and moneyBucharest, from "Little Paris", beautiful women and cheap beer, to Dracula and aggressive dogs

The Final of the Europa League, which will be held next week, on May 9th, has succeeded in attracting the attention of all of Europe to Bucharest, with the Spanish being the most interested.

The time bomb

The former minister of Finance Bogdan Drăgoi yesterday came on TV to tell us that the Budget has enough money to bring back the wages of the public sector workers to what they were before they were cut by 25%, in an attempt to deny the statements...

Lots of empty talk on the World Press Freedom Day

If "journalists must regain the respect of the public", which is how the Romanian Press Club has titled its address, published on the occasion of the World Press Freedom Day, then that means that the journalists have lost the respect of...

The Euro passed the 4.4 lei level

ANALYSTS:Florin Georgescu - the firm guarantee of the macroeconomic balance

• Blănculescu: An ideological cocktail in the government may generate a positive feeling in the business environment

LIKE NEVER BEFOREPeace and quiet at the General Shareholder Meeting of the Bucharest Stock Exchange

Like never before, there was no scandal at the General Shareholder Meeting of the Bucharest Stock Exchange, all of the proposals went through without any objections, and the extraordinary shareholder meeting wasn't even held due to a lack of...

NICOLAE VASILESCU OF THE Romanian CHINESE HOUSEThe EU is discretely telling its member states: "Stay away from China!"

The European Union tacitly advises the member states to keep its economic relationships with China to a minimum, according to Nicolae Vasilescu, the president of the Romanian-Chinese House.