English Section

24 septembrie 2012

THE MINISTER OF THE ECONOMY, DANIEL CHIŢOIU:"The people who bear the blame for the current situation of Oltchim will be held responsible"

Daniel Chiţoiu, the minister of the Economy, is confident that the privatization of Oltchim will not fail.

THE "YOUNG MARKETS" CONFERENCEAndre Cappon: "A country doesn't need two exchanges"

The consolidation of the stock exchanges all over the world has increased their market value, and a country doesn't need several market operators, considers Andre Cappon, the president of the CBM Group, a consulting company specializing in financial services, who attended the "Young Markets" conference in Sibiu, yesterday.

"The problems with the visas for Chinese citizens have gotten worse, under the new government"

GABRIEL GHELMEGEANU, THE CHAIRMAN OF THE ROMANIAN CHINESE CHAMBER OF COMMERCE AND INDUSTRY:"The problems with the visas for Chinese citizens have gotten worse, under the new government"

• The law is good, but it is not implemented the way it should be

• We need a strategy for the development of the relations between Romania and China

• Romania may conclude an agreement with China on investments in agriculture and exports of pork meat

Visa-related issues, which Chinese citizens are encountering when they decide to come to Romania, have become worse lately, according to Gabriel Ghelmegeanu, the chairman of the Romanian Chinese Chamber Of Commerce And Industry (CCIRC).

A call for tenders with a scandal at Oltchim

• PCC, the only bidder for the receivable of the AVAS

• Diaconescu only wants to buy the stake of the state in Oltchim

• Vuza only wants to buy the shares of Oltchim and the receivable of the AVAS

• A row concerning the time of the registration of the bid submitted by Dan Diaconescu

• Wojciech Zaremba, PCC, exclusively for "BURSA": "If PCC wins the privatization process, we will do everything for Oltchim to operate again, including the Arpechim division"

The monkey business around the privatization of Oltchim, with the ever-present show à la Dan Diaconescu, has lowered our image by a few notches in the eyes of investors, several businesspeople estimate, especially since the journalist announced that he would participate in all the major privatizations, such as Tarom, CFR Marfă and Hidroelectrica.

THE "YOUNG MARKETS" CONFERENCEAndre Cappon: "A country doesn't need two exchanges"

1 Euro5.0953

1 Fr. elveţian5.5781

BNR

1 Liră sterlină5.8604

BNR

1 Dolar SUA4.2940

BNR

1 Gram Aur691.4237

BET28329.26

BET FI107704.44

BET NG2027.62

GABRIEL GHELMEGEANU, THE CHAIRMAN OF THE ROMANIAN CHINESE CHAMBER OF COMMERCE AND INDUSTRY:"The problems with the visas for Chinese citizens have gotten worse, under the new government"

• The law is good, but it is not implemented the way it should be

The unionists of "Tarom" don't want a foreign manager

The National Technical Union (SNT) "Tarom" is against the implementation of a private management at the national airline, but they think that the future CEO should be Romanian, rather than a foreigner.

"O" day

• Ştefan Vuza yesterday withdrew his bid for Oltchim, to submit an improved tender today

IN 2012,Household appliances distributor "Marelvi" wants a turnover of 40 million Euros

For 2012, household appliance distribution company "Marelvi" has set a goal of 40 million Euros in turnover for itself, up 10% compared to 2011, when the distributor's sales reached approximately 38 million Euros, said Daniela Bîzgan,...

The shadow of Ioan Niculae at Oltchim

Prime Minister Victor Ponta yesterday commented on the privatization of Oltchim, saying that the situation of the plant is not exactly, great, because one of the bids is "exotic" (most likely he was speaking of Diaconescu), and...

GEShale gas, a chance for the competitiveness of the Romanian and Europe

In the coming years, the cohesion funds of the European Union must be directed towards increasing the competitiveness of its member states, which are losing ground to countries with an accelerated development.

DEADLINE EXTENDED BY THREE DAYSThe privatization of Oltchim part two, on Thursday

• UPDATE 3: Victor Ponta announces that the privatization terms will not be changed

THE FINAL BIDS ARE BEING SUBMITTED TODAYOPSPI: "The privatization of Oltchim, threatened by a lawsuit filed by Dan Diaconescu"

The privatization of Oltchim is placed in jeopardy by a lawsuit filed by Dan Diaconescu, said Remus Vulpescu, the head of the OPSPI.

FIVE DAYS UNTIL THE OPENING OF THE PRIVATIZATION BIDSThe employees of "Oltchim" threaten with a new wave of protests, unless their wages are paid

Bogdan Hossu, the president of Cartel Alfa, announced yesterday in a press conference that on Monday, the employees of "Oltchim" will start a large scale protest at the plant's headquarters, if they do not get at least part of their...

THE TWO SIDES WILL FIGHT IT OUT IN COURTThe court, the final solution for the conflict at SIF Muntenia

• A lawsuit requesting the suspension of the election of the new Council of the Shareholders' Representatives

CRISTINA CHIRIAC:"Since 2007, privatization with a strategic investor is no longer possible"

• Interview with Mrs. Cristina Chiriac, former vice-president of the AVAS

Tab Construct: "Next week we will begin cleanup at Hidromecanica"

• "Cora România" will build a retail center on the plot of land of the former plant

EXCLUSIVE: MALAYSIA LOOKS TO THE EAST:Romania - increasingly attractive for Malaysian exports

• Interview with E.S. Dato' Nik Mustafa Kamal Bin Nik Ahmad, Malaysian ambassador in Bucharest

CRISTINA CHIRIAC:"Since 2007, privatization with a strategic investor is no longer possible"

• Interview with Mrs. Cristina Chiriac, former vice-president of the AVAS

The developer of "Seasons Residence" is bankrupt

• In 2007, Gespi Investments was announcing an investment of 45 million Euros

The Central Depository has unlocked 225,310 shares of the Proprietatea Fund owned by the Romanian state

The Central Depository has made available 225,310 shares issued by the Proprietatea Fund (FP), which were owned by the Romanian state through the Ministry of Finance, according to a report sent to the Bucharest Stock Exchange.

Show around the sale of "Oltchim"

• The owner of Rafo Oneşti, interested in the plant of Vâlcea

"RAFAEL & SONS": "2013 - a more economically stable year, with more customers"

• Interview with Noam Lenzini, managing director at "Rafael & Sons"

Cristian Sima and Dan Simionescu, in the line of sight of the shareholders of Sibex

• Two shareholders have asked for a lawsuit against the CEO of the Sibiu Exchange

The developer of "Seasons Residence" is bankrupt

• In 2007, Gespi Investments was announcing an investment of 45 million Euros

THE MOLDOVANS BREAK THE SILENCESolomiţchi: "We want Prodlacta to become a market leader in three years"

• JLC wants to bring the dairy factory of Braşov to peak capacity and to complete the portfolio with new products

THE BUCHAREST STOCK EXCHANGE HAS A CEOVictor Cionga, validated by the CNVM

Victor Cionga has been validated by the Romanian National Securities Commission as CEO of the Bucharest Stock Exchange, in yesterday's meeting, after more than a month and a half after being proposed for this position.

MIRCEA SCÂNTEI, METAROM:"Russia's joining of the WTO would no longer justify the presence of Mechel in Romania"

Tensions at Mechel Câmpia Turzii continue. The employees of the plant will take to the streets next Friday (September 14th), unhappy that Russian investors are generating a new round of layoffs, said Mircea Scântei, the president of the Metarom...

Transparency a la Deloitte - i.e. "leak"

Even though it is an audit and tax services company, which promotes compliance with corporate governance and transparency, Deloitte Romania leaked its information one day before making it public, to a carefully selected publication.

"Oltchim" greets investors with protesters standing before the gates

• Constantin Roibu and the entire executive at "Oltchim" have resigned

CORRESPONDENCE FROM POLAND - THE KRYNICA ECONOMIC FORUMInvestments in increasing competitiveness, a solution to the European crisis

Government officials and the representatives of the major companies in the European Union consider that in the coming years, the cohesion funds need to be directed towards increasing the competitiveness of the European economy, which is losing...

Political war over the absorption of EU funds

The government and the opposition have come up wit ha new reason for a dispute: the absorption of EU funds.

Băsescu knows best

Băsescu has finally spoken.

OCCURRING JUST A FEW WEEKS BEFORE THE LAUNCH OF THE SECONDARY PUBLIC OFFERThe downgrade of Transgaz looks quite "convenient"

Yesterday's decision by "Standard&Poor's" to cut the rating of natural gas transporter "Transgaz" (TGN) comes just a few weeks before the government is set to launch the secondary public offer (SPO) for the sale of 15%...

Casa de Investiţii ALIANŢA completes 1.7 MW photovoltaic farm

EPC contractor EPC Egnatia Romania, provider of turnkey services for photovoltaic services, has completed the works and the connection to the grid of the 1.7 MW photovoltaic park built by Romanian privately owned company "Casa de Investiţii...

SAI Muntenia calls for a General Shareholder Meeting, but not at SIF4

• SAI Muntenia wants to change its Board of Directors, a move which could extend the battle with the Council of the Shareholders' Representatives ( Council of the Shareholders' Representatives)

FOOTBALL AND MONEYSteaua, an athletic record and financial performance

Steaua Bucureşti has successfully beaten an athletic record, the number of consecutive qualifications into the groups of the Champions League and of Europa League.

Paying VAT upon collecting the invoice - an official hoax

• Liviu Voinea: "Clearing of VAT for companies which paid this tax without collecting the due invoice would be rather costly and hard to manage"

Green energy will lead to Romania's "sustainable collapse"

The expansion of the global financial crisis over the last few years has revealed the irresponsibility of "development" dependent on cheap credit.

IN THE SUMMER TIMEBig volumes for SIF3 Transilvania

• Average daily turnover of over one million lei

THE DROP IN LENDING BY THE BANKS, AN OPPORTUNITY FOR THE BSEGDF SUEZ may list bonds of 300 million lei on the BSE

• Lucian Anghel, BVB: "By cutting the fees, the Romanian bond market will become competitive, even compared to Luxemburg"

Why is Băsescu silent?

It's been a week since I wrote that "Traian Băsescu is now keeping silent.

THE UNIONISTS OF MECHEL - CÂMPIA TURZII:"The contract with Mechel needs to be canceled"

• The unionists are preparing a large-scale protest

VIPER VENOM "POISONS" THE COSMETICS MARKET7,500 cosmetics which use viper venom are manufactured daily on the local market

Romanian viper breeders, who sell the viper venom with 800 Euros per gram abroad, where it is mostly sought after by cosmetics manufacturers, have decided to take the next step: why not make cosmetics themselves!