English Section

28 februarie 2013

Gheţea: "The financial crisis has made the use of mediation increasingly necessary"

THE "BURSA" "BENEFITS OF MEDIATION IN DEALING WITH CONFLICTS" CONFERENCEGheţea: "The financial crisis has made the use of mediation increasingly necessary"

About 150 mediators, businesspeople, bankers and lawyers yesterday discussed the benefits and the challenges of the mediation process, bringing into discussion the opportunity of the new provisions of the Civil Procedure Code concerning this segment and showing an increased interest in the subject.

The insufficient funding of companies - the major issue for this year

Reporter: Mr. Sebastian Vlădescu, what is your opinion concerning the huge losses suffered by the Romanian banking system in 2012 and what repercussions do you feel they will have on the Romanian economy?

Sebastian Vlădescu: I think that we have a major problem when it comes to the losses posted by the banking system in 2012.

"The solutions proposed as part of mediation are creative and personalized, which gives participants mental comfort", Nicoleta Munteanu said.

THE "BENEFITS OF MEDIATION IN DEALING WITH CONFLICTS" CONFERENCE/NICOLETA MUNTEANU:"Mediation creates long term relationships, due to its non-aggressive nature"

Mediation contributes to creating long term relationships between the parties involved in the procedure, due to its non-aggressive nature, says Nicoleta Munteanu, the president of the International Mediation Center.

THE "BENEFITS OF MEDIATION IN DEALING WITH CONFLICTS" CONFERENCE/ZENO ŞUŞTAC:"I see a great potential for mediation in the medium and short term"

Demand for mediation has substantially increased after February 15th, when the new Civil Procedure came into effect, which provides, among other things, the obligation of judges to advise the litigants to participate in the mediation procedure first, as starting on that date, they will be forced to go to a session of information about mediation.

The creation of the Financial Oversight Authority (ASF) passed the Chamber of Deputies

The Chamber of Deputies yesterday adopted the Government Emergency Ordinance 93/2012 concerning the creation, organization, and operation of the Financial Oversight Authority (ASF).

1 Euro5.0889

1 Fr. elveţian5.4787

BNR

1 Liră sterlină5.7655

BNR

1 Dolar SUA4.3980

BNR

1 Gram Aur581.2510

BET23237.56

BET FI90835.81

BET NG1730.95

EXCLUSIVE - CONSTANTIN NIŢĂ, THE DELEGATE MINISTER FOR ENERGY:"We will honor the schedule of the listings of energy companies, agreed with the IMF"

Romania will follow the schedule of the listings of the energy companies, as promised to the international financial institutions, said Constantin Niţă, the delegated minister for Energy, in his first interview since his appointment.

EMBA classes of 35,000 Euros for managers

Some Romanian managers with a work expertise of about 11 years and an average age of 35 years are considering new opportunities for professional development, as this is the time when they meet foreign education.

THE "BENEFITS OF MEDIATION IN DEALING WITH CONFLICTS" CONFERENCE /RALUCA MIHALCEA:"It is very important for mediators to be competent and dedicated"

In the mediation process, it is very important for mediators to be competent and dedicated, said Raluca Mihalcea, the personal advisor of Maria Grapini, the delegated minister for SMEs, Tourism and the Business Sector.

THE "BENEFITS OF MEDIATION IN DEALING WITH CONFLICTS" CONFERENCE /CRISTIAN PÂRVAN:"Be careful when it comes to contracts and legislation!"

The people involved in a mediation process need to be very careful about the contents of the contracts, says Cristian Pârvan, the secretary general of the Association of Romanian Businesspeople (AOAR), who went on to say: "There are many...

THE "BENEFITS OF MEDIATION IN DEALING WITH CONFLICTS" CONFERENCE/TUDOR TATU:"The penetration of mediation in the banking sector is difficult"

Mediation in the financial-banking system could have nothing but beneficial effects in solving the disputes between lenders and borrowers, considers Tudor Tatu, the president of the Union of Banking Mediators.

THE "BENEFITS OF MEDIATION IN DEALING WITH CONFLICTS" CONFERENCE/COSMIN VASILE:"The legal disposition is imperative, but without any sanctions"

The imperative nature of the legal provision which makes it mandatory to attend the sessions of information about mediation, starting with February 15th, will be affected by the postponement of the application of sanctions for those who fail to...

THE "BENEFITS OF MEDIATION IN DEALING WITH CONFLICTS" CONFERENCE /MIRELA IOVU:"I don't think that attending the information session about mediation should have been made mandatory"

The market wasn't ready for any step of the mediation procedure to be made mandatory, Mirela Iovu, vice-president of CEC Bank considers.

"The proposals concerning the mediation of criminal lawsuits are outside the scope of the law on mediation"

THE "BENEFITS OF MEDIATION IN DEALING WITH CONFLICTS" CONFERENCE/CIPRIAN FRANDES:"The proposals concerning the mediation of criminal lawsuits are outside the scope of the law on mediation"

The proposals which were made concerning criminal mediation fall outside the scope of the law on mediation, and within that of the Code of Criminal Procedure, Ciprian Frandes, advisor to Deputy Alina Gorghiu explained.

The registrations for the mediator courses, in full expansion

Reporter: What is your opinion on the mandatory introduction of mediation, starting on February 13th, 2013, of the mandatory information concerning mediation?

EXCLUSIVE - CONSTANTIN NIŢĂ, THE DELEGATE MINISTER FOR ENERGY:"We will honor the schedule of the listings of energy companies, agreed with the IMF"

EXCLUSIVE - ABOUT THE COMMISSION POLICY OF THE STOCK EXCHANGE:Dan Paul: The Bucharest Stock Exchange is putting the cart before the horse

Dan Paul, the president of the Romanian Association of Brokers, opposes the amendment of the pricing policy of the Bucharest Stock Exchange, as he considers that this policy would only work and attract liquidity in theory.

PONTA, WILLING TO SUPPORT THE INVESTORS OF MECHEL"Mechel" Târgovişte has filed for insolvency, for the purpose of reorganization

The "Mechel" Târgovişte metallurgic plant has filed for insolvency on Tuesday, for reorganization, after it was sold, together with the other assets which the Group had in Romania, to "Invest Nikarom" Bucureşti, in exchange for an...

A special fiscal area for gambling at the seaside

THE GAMBLING INDUSTRY CONFERENCE- SECOND EDITION - RADU MAZĂRE WANTS TO GROW THE GAMBLING INDUSTRYA special fiscal area for gambling at the seaside

Reporter: At the end of last year, you have expressed your opinion that you no longer wanted to sell the casino of Constanţa. On the contrary, you have said that you want to achieve a public-private partnership with a company interested in the...

EXCLUSIVEMariana Gheorghe: "This year, Petrom will find out new data about the deposits in the Black Sea"

This year, Petrom and its partners will interpret the data obtained through the completion of the seismic studies for the oil perimeters leased in the Black Sea.

The Budget Commission working on the Financial Supervisory Authority at the last minute

The Budget Commission of the Chamber of Deputies has added two new members to the leading commission of the Financial Supervisory Authority (ASF), besides the 15 members it was initially stipulated to have, according to yesterday's amendments.

The weapons are rattling at the BSE

The stock market is rumbling, an increasing number of malcontents are appearing concerning the proposals of the current management of the Bucharest Stock Exchange.

The Oltenia complex, twisting in the wind

The output of wind farms is mostly taken over by the national energy system.

Fire sale at "Mechel": 4 plants for 50 Euros

The "Mechel" group yesterday surprised the entire market, through an announcement that it has sold the four plants it owned in Romania for the amount of ... 230 lei (about 52 Euros/70 dollars).

THE ROMPETROL AFFAIRRemus Vulpescu: "Dinu Patriciu has caused losses to the Romanian and Kazakh state alike"

The Kazakh state is not willing to pay the face value of the historic debt of "Rompetrol", Mr. Remus Vulpescu, the representative of the Romanian state on the Board of Directors of Rompetrol Rafinare said yesterday.

THE ROMPETROL AFFAIRCristina Chiriac: "The Romanian state will clearly lose out on this deal"

Reporter: What is your take on the deal between the Romanian state and Rompetrol by which the state will sell part of its shares owned in Rompetrol Rafinare, with the price the deal has been concluded at being lower than the historic debt of 500...

THE ROMPETROL AFFAIRRadu Sârbu: The PETROMIDIA theater play

• Act I: The privatization conducted by the National Peasants' Party

Globally, mediation has a chance of success of 60%-80%

Reporter: What is your opinion on the introduction, starting on February 15th, 2013, of the mandatory information sessions concerning mediation?

The meteoric rise of "Ductil" and the procedures of the BSE

The information that "Ductil" Buzău (symbol: DUCL) summons its shareholders to decide on the distribution of additional dividends was received at the Bucharest Stock Exchange on Monday morning, but only reached investors at 16:46, after...

AT THE END OF 2012Franklin Templeton had investments of 100 million dollars on the BSE

The investment funds of Franklin Templeton (FT), the manager of the Proprietatea Fund had shares worth almost 100 million Euros in companies listed on the BSE, according to a report by brokerage firm Prime Transaction.

Maria Grapini: The 3% turnover tax will be eliminated

The 3% turnover tax will be eliminated, Maria Grapini, the delegated minister for SMEs, Tourism and the Business sector announced yesterday.

Rompetrol will buy back some of the shares of the Romanian government in Rompetrol Rafinare

The "Rompetrol" Group and the Romanian state have concluded on Friday a memorandum of understanding for terminating the dispute concerning the conversion of the bonds of "Rompetrol Rafinare" into stock, in favor of the Romanian...

ONE INTERIM MANAGER REPLACED WITH ANOTHERGheorghe Ştefan replaces Andrei Benghea at the helm of Transelectrica

The Supervisory Board of Transelectrica yesterday decided to replace Executive General Manager Andrei Benghea Mălăieş, information which BURSA published exclusively in its online edition.

Furious protest of the employees of Oltchim at the Ministry of the Economy

About 100 employees of Oltchim and of the Arpechim petrochemical platform protested angrily yesterday at noon in front of the Ministry of the Economy.

ONE INTERIM MANAGER REPLACED WITH ANOTHERGheorghe Ştefan replaces Andrei Benghea at the helm of Transelectrica

The Supervisory Board of Transelectrica yesterday decided to replace Executive General Manager Andrei Benghea Mălăieş, information which BURSA published exclusively in its online edition.

Furious protest of the employees of Oltchim at the Ministry of the Economy

About 100 employees of Oltchim and of the Arpechim petrochemical platform protested angrily yesterday at noon in front of the Ministry of the Economy.

PHILIPPE LHOTTE:"180 million Euros, the costs of the frauds committed at BRD in 2012"

• BRD had the first losing year in the last decade

Hunger strike at "Oltchim"

23 employees of the "Oltchim" plant are on hunger strike, starting on Tuesday, according to Corneliu Cernev, union leader, who went on to say, that at the moment, only 7-8% of the plant is still operational.

The rush begins for administrators for Romgaz, Transgaz and Nuclearelectrica

The Office For The State's Interests and Industrial Privatization (OPSPI) has announced yesterday that it will be accepting submissions until March 13th, inclusively, for the seats on the Boards of Directors of Romgaz, Transgaz and...

Horia Ciorcilă, the chairman of the Board of Directors of Banca Transilvania, also took on the executive position at the lender in December 2012.

THE BUSINESS MODEL BORE FRUITBanca Transilvania, a fabulous profit on a market in freefall

Banca Transilvania yesterday announced a 40% increase in its profits for the year 2012, to 320.43 million lei, a performance which brokers consider surprising.