English Section

12 noiembrie 2012

Lawyer Florentin Ţuca, founder of law firm "Ţuca Zbârcea & Asociaţii", has an expertise of 19 years in the business. He is specialized in corporate law, concessions and public-private partnerships, an area in which he has a Ph. D, as well as in mergers and acquisitions/privatizations. He has a rich expertise in representation in domestic and international arbitration proceedings.Florentin Ţuca received the highest "The Lawyer" award at the "The Lawyer European Awards 2012", held in October in Monte Carlo. Also, in 2010, he has won the trophy "Law firm of the year in Eastern Europe and the Balkans", in the same competition, and the "Best Managed Workplace" award, at the "MPF European Leadership Awards 2012".Among other things, lawyer Florentin Ţuca likes sports and guiding his two daughters, whom he is very proud of.

FLORENTIN ŢUCA, MANAGING PARTNER AT ŢUCA ZBÂRCEA & ASOCIAŢII:"The legal services market will be marked by turmoil and the crisis"

With a team of over 95 lawyers, of which 20 partners in the office of Bucharest, "Ţuca Zbârcea & Asociaţii" has a secondary headquarter in Cluj-Napoca, which it shares with "Nistorescu, Şomlea & Asociaţii", as well as a representative office in Madrid, Spain.

INVESTORS ARE RETHINKING THEIR STRATEGIES FOR THE ROMANIAN MARKETAlmost 4% of the Proprietatea Fund has changed ownership

• "Deal" trades with shares of the Proprietatea Fund have raised the liquidity of the BSE to levels which have never been seen in almost two years

The frequent trades negotiated with the "star" stocks listed on the BSE, noticed lately, show that some investors are rethinking their strategy, some analysts consider.

Advertising firm MPG disputes the ratings figures of the Romanian Ratings Audit Bureau (BRAT)

• MPG refuses to make the payment it owes the BRAT, as it is unhappy with its services

• The Romanian Ratings Audit Bureau has filed a lawsuit against Media Planning Group (MPG)

• The Court rejected the lawsuit filed by BRAT, causing the latter to file an appeal

• The head of the newspaper "Monitorul de Botoşani" considers that "the National Ratings Study (SNA) is a major fraud and money down the drain"

Several beneficiaries (publications and advertising firms) dispute the ratings numbers published by the Romanian Ratings Audit Bureau (BRAT), as they feel that the data of the National Ratings Study (SNA Focus) - a study conducted by the BRAT which measures both the ratings and the profiles of print publications, as well as the consumption of products and services - is "subjective" and does not reflect the reality in the market.

AFTER MAKING ADDITIONS TO THE SHAREHOLDER NOTICE TO ATTENDSibex will accept applications for the position of administrator until Monday

• The Sibiu Stock Exchange will hold another General Shareholder Meeting in December, and wants to revise its 2012 budget - from profit to loss

The list of candidates for the Board of Directors of Sibex has come to comprise fifteen people, after it was supplemented with those registered for the General Shareholder Meeting of September, which wasn't held at the time, because it was postponed by the Romanian National Securities Commission (CNVM).

PONTA AND BĂSESCU - LACK OF INTEREST FOR THE STOCK MARKETThe government turning its back on the Stock Exchange

• Investors and brokers are outraged

The disinterest of the state towards the stock market hits the Bucharest Stock Exchange, where, lately, the daily trades have reached disaster levels.

1 Euro5.0896

1 Fr. elveţian5.4650

BNR

1 Liră sterlină5.8140

BNR

1 Dolar SUA4.3449

BNR

1 Gram Aur604.5466

BET23889.65

BET FI91323.9

BET NG1761.01

The Government and the Opposition are taking jabs at each other over their respective prime minister nominees with ongoing lawsuits

One month before the elections, the government and the opposition launched a fierce debate over the name of the future prime minister.

Ponta: We need to make a decision on the restitution of properties by April 2013"

• The immediate repayment in cash would require 16 billion Euros, which is unsustainable

PCC, once again on the Board of Directors of Oltchim

Wojciech Zaremba, the representative of PCC SE in Romania, yesterday succeeded in becoming a member of the Board of Directors of Oltchim again, according to sources from inside the company, after about two years of absence.

Profit of BRD after nine months, down 98%

BRD, the second largest domestic bank in terms of assets, reported a net profit of 10.38 million lei after the first nine months of 2012, down 98%, compared to last year's similar period.

America votes! So what?

It may seem disrespectful, or just an attempt to sound catchy, intended to draw the readers' attention.

Radu Baron: "In the music business, happiness is constant"

First of all manager, then owner of a label that has over 20 years of expertise on the domestic market, Radu Baron of RBA Records shared some of the secrets of the music industry. We can draw the conclusion that the music industry in Romania has...

Ponta: We need to make a decision on the restitution of properties by April 2013"

• The immediate repayment in cash would require 16 billion Euros, which is unsustainable

"Next year we have made it our plan to organize 15 promotional events in the ex-Soviet space, Brazil, China, South Africa, India and in the Middle East".

We may manufacture equipment for renewable energy

(Interview with Dan Simion, the General Manager of the Romanian Center for Promoting Trade And Foreign Investments - CRPCIS)

Dozens of Romanians open up businesses in the United States of America

The United States of American attract dozens of Romanian entrepreneurs every year, who open businesses on the American market in varied areas such as IT, tourism, human resources or the food industry.

IAR Ghimbav went into the red after the first nine months of 2012

Turnover of IAR Ghimbav fell 61% in the first nine months of 2012, from 48.8 million lei to 19 million lei.

The forex reserves of the NBR fell by 657 million Euros

In October, the forex reserves of the National Bank of Romania (NBR) fell to 31.77 billion Euros, from 32.42 billion Euros on September 30th, according to a press release of the institution.

EXCLUSIVERemus Vulpescu: "I have opposed three times the liquidation of the stake the Romanian state had in Petrom "

Remus Vulpescu, former head of the OPSPI (The Office For The State's Interests and Industrial Privatization), currently an advisor to the Minister of the Economy, Daniel Chiţoiu, kindly visited our newsroom and answered many questions about...

Cristian Sima, prohibited from operating on the stock market for five years

THE INVESTIGATION OF THE CNVM, AFTER THE ROW SPARKED BY THE CASE OF THE FORMER SIBEX CEOCristian Sima, prohibited from operating on the stock market for five years

• The CBVM has shut down "WBS România", because the company was not recording on its books the operations it conducted in the accounts it had abroad

Dragoş Bîlteanu: "We are not looking for a controlled liquidation at SIF1, but rather a sustainable and durable development based on a defined period to restructure the portfolios and the capitalization of profits, and this is what my proposal to the Board of Directors will concern."

EXCLUSIVE INTERVIEW WITH THE NEW PRESIDENT OF SIF BANAT CRIŞANADragoş Bîlteanu: "We do not want a controlled liquidation at SIF1"

Unlike other SIFs, the fights for power at SIF1 Banat Crişana took place behind closed doors, without any scandals, at least as far as the media was concerned.

Yesterday, at the meeting with the CEO of OMV, Gerhard Roiss, the Romanian president said: "Romania will become an important player on the energy market in the next 10 years, if we get lucky with the Black Sea".

IN THE CONTEXT OF THE FINDING OF THE GAS DEPOSITS IN THE BLACK SEAThe failure of the secondary offer of Petrom is in fact a major success

• Băsescu: "At the present time, we won't sell the 10% stake in Petrom; we were lucky that we didn't sell in 2011"

AFTER NINE MONTHSThe total provisions of BCR exceed the total level of 2011

The Romanian Commercial Bank (BCR) saw a net loss of 762.5 million lei (172.1 million Euros) at the end of Q3 2012, whereas over the same period of last year it had net profit 67.6 million lei (16.1 million Euros), according to a press release by...

Cezar Scarlat (left), Gian Sharp (right)

AFTER THE ACQUISITION OF CARGUS FROM DHL"Abris Capital Partners" is looking for investments between 20 and 100 million Euros in Romania

Investment fund "Abris Capital Partners", which entered the Romanian market by acquiring courier company "Cargus" from DHL, is considering investments of at least 20 million Euros in majority stakes in Romanian companies, but it...

A PROFIT 30% GREATER AT NINE MONTHSBrokers: Earnings of Banca Transilvania are encouraging

• The bank is on schedule for the revenue targets, but it needs to be careful with provision costs, analysts say

"The microfinancing of SMEs in Romania is a very well developed activity"

PETER BARTA, THE GENERAL MANAGER OF THE POST-PRIVATIZATION FOUNDATION - FPP:"The microfinancing of SMEs in Romania is a very well developed activity"

AFTER THE ACQUISITION OF CARGUS FROM DHL"Abris Capital Partners" is looking for investments between 20 and 100 million Euros in Romania

Erik de Vrijer, the head of the IMF mission to Romania

IF THE CRISIS IN THE EUROZONE WORSENSIMF: "Romania's economy could contract by 5%"

• The leu risks a depreciation of 15-20%

The president of SIF Banat Crişana does not rule out the relocation of the company's headquarters.

Ioan Cuzman, the president of SIF Banat Crişana will step down

PRELIMINARY RESULTS OF THE INVESTIGATIONThe CNVM has suspended the operation of WBS Romania

IF THE CRISIS IN THE EUROZONE WORSENSIMF: "Romania's economy could contract by 5%"

• The leu risks a depreciation of 15-20%

The plan for the reorganization of Prodlacta may only be confirmed on November 12th

• Oleg Solomiţchi, the representative of the JLC group, has acquired the receivables of the two large shareholders of the milk producer - ASMC and Olympus Dairy

EVEN THOUGH THE CALL FOR TENDERS ENDED A LONG TIME AGONuclearelectrica is still negotiating with SNC Lavalin

• Nuclearelectrica: "There is no reason to hold a referendum on continuation of the project build the Units 3 and 4"

Autoliv has invested 15 million Euros in the steering wheel factory of Sfântu Gheorghe

• The company is hiring 45 people a month, and hopes to reach 1,000 employees by the end of the year

Swiss Capital and BT Securities will intermediate the listing of Nuclearelectrica on the BSE

The consortium made up of Swiss Capital and BT Securities won the call for bids held by Nuclearelectrica to underwrite the listing of the shares on the Bucharest Stock Exchange (BSE), stock market sources told us.

Cezar Scarlat has been working as Managing Director at Abris Capital Partners, since May 2012, after spending almost four years at "Bridgepoint Capital"

AFTER THREE YEARS WENT BY IN ROMANIA WITHOUT ANY DEALS"Abris Capital Partners" breaks the ice and buys "Cargus" from DHL

• Cezar Scarlat, "Abris Romania": "We have 450 million Euros available to invest in Poland, Romania and Ukraine, in that order"

ZAREMBA'S FIRST MOVE, AFTER THE FAILURE OF THE PRIVATIZATIONPCC wants to see the plan for the restructuring of "Oltchim", announced by Ponta

• The minority shareholder wants the replacement of the Board of Directors

The chairman of SIF Banat-Crişana urges reason and pragmatism in the economic policy

At the end of last week, the president of SIF Banat-Crişana, Ioan Cuzman, attended the debate "Strategic approach in the management of business", hosted by the Faculty of Economics and Business Management of the of the Western University...

Banca Transilvania to issue 30 million Euros worth of bonds

• Bank of Cyprus, shareholder of Banca Transilvania, is requesting that the Board of Directors be given the power to perform share capital increases, by converting bonds into stock