English Section

20 mai 2013

The state guarantees for SMEs, deposited with Bank of Cyprus Romania

Those who were worried that they might lose their money deposited with Bank of Cyprus România were unaware that the Romanian state itself through an institution of its own, had 24 million Euros deposited at the Cypriot branch, and the NBR could not afford not to deal with the situation.

"SENSATIONAL!"The privatization of CFR Marfă - the same ending as Oltchim, even though Dan Diaconescu was not involved

The authorities did not want a show at the privatization of CFR Marfă and they have succeeded - there won't be any show, but there won't be any privatization either ... for now.

EXCLUSIVE - THE PLAN PROPOSED BY THE RECEIVERSThe working capital of Oltchim, to be provided by the investors

The receivers of Oltchim (Rominsolv and BDO) are proposing to investors interested in acquiring the plant of Vâlcea to participate financially in the stage which precedes the reorganization.

Constantin Niţă was adamant in his public interventions, saying that the offer of Nuclearelectrica will take place in May.

The listing of Nuclearelectrica will not take place this month

The listing of Nuclearelectrica may be postponed again, for autumn, sources close to the situation are saying.

Watch out for confusions on the Forex market!

Online currency trades don't always take place in a safe environment, according to the analysts and managers of some of the brokerage firms that provide foreign exchange services.

1 Euro5.1417

1 Fr. elveţian5.5821

BNR

1 Liră sterlină5.9370

BNR

1 Dolar SUA4.3965

BNR

1 Gram Aur653.5585

BET28263.9

BET FI98133.49

BET NG2102.67

Avicola Braşov goes profitable after the first three months of 2013

Avicola Braşov ended the first quarter of this year with a turnover which increased 9%, from 27.8 million lei to 30.4 million lei.

THE MANAGEMENT OF VICTOR CIONGAProfit down 45% for the BSE

The Bucharest Stock Exchange (BSE) posted a net profit of 1.53 million lei in the first quarter of this year, down 45% over Q1 2012.

THE INSTALMENTS FOR LOANS DENOMINATED IN SWISS FRANCS, INCREASINGLY LOWERThe Swiss franc keeps dropping

The market for loans denominated in Swiss Francs (CHF) caught a breather over the course of the last month, given the continuous drop of the Swiss Franc compared to the other currencies.

STRONG START FOR THE ASFSIF Moldova wants the harmonization of the stock market legislation

Even though it is barely "born", after the "merger" between the Romanian National Securities (CNVM), the Insurance Supervision Commission (CSA) and the Commission for the Supervision of Private Pensions (CSSPP), the Financial...

IN ORDER FOR OLTCHIM TO COLLECT THE 10 MILLION EUROS INSURANCE POLICY,Roibu: "The receivers need to prove in court that the management was flawed"

Starting in 2011, Oltchim has concluded with Astra Asigurări, an insurance policy of 10 million Euros against defective management of the plant, an amount which the managers of the plant are now requesting from the receivers of the plant.

Is the sale of the shares in Rompetrol stuck at the level of Ministry of Finance?

The sale to KazMunayGaz (KMG) of about 25% of the shares owned by the Romanian government in Rompetrol Rafinare in exchange for 200 million dollars may be stuck in the Ministry of Finance, sources close to the situation say.

GOVERNMENT SOURCES:"The Romanian state could be connected to South Stream, with the help of Kazakhstan"

The collaboration between the Romanian and the Kazakh state, through the sale of a small stake of the block of shares which Romania owns in Rompetrol, to KazMunayGaz, the sole shareholder of the Rompetrol oil group, could connect Romania to the...

The NBR is bringing a knife to the currency war gunfight

On the last monetary policy meeting, the NBR came up with a surprise by which it wants to convince us that it still holds a relevant position in the mechanism of an economy which is incapable of overcoming the recession.

The Rompetrol deal, with a twist

The Romanian government will sell 26.69% of the shares it owns in Rompetrol Rafinare for 200 million dollars to The Rompetrol Group (TRG), controlled by KazMunayGaz (KMG).

AIPC accuses illegalities in the delisting of "Instirig" Balş

The Association of Capital Market Investors (AIPC) has notified illegalities on the delisting of Instirig Balş (symbol: INGT), on the Rasdaq market.

Sebastian Vlădescu: "If you have any savings, spend them!"

Reporter: What is your opinion on the steps recently taken by Cyprus and what effects will they have on the Romanian banking market?

The Poles want to list companies from the BSE on the Warsaw Stock Exchange as well

The authorities in Poland are cooperating with certain Romanian companies for their dual listings on the Warsaw Stock Exchange, according to Pawel Tamborski, subsecretary of state in the Ministry of the Treasury of Poland.

The General Shareholder Meeting of the BSE as an exit poll

The attendance rate at the General Shareholder Meetings of the BSE can function as an exit poll concerning the support of the management of the BSE, whose symbol is Lucian Anghel, the president of the Bucharest Stock Exchange.

THE CONFRONTATION BETWEEN BUNDESBANK AND MARIO DRAGHI HAS REACHED DRAMATIC ACCENTSAn economic war for the end of the Euro

A few days ago, Welt am Sonntag published a statement by Kai Konrad, economic advisor to Chancellor Merkel, by which he expressed his doubt about the chances of survival of the unified currency for more than five years.

Mihai Fercală inclined to choose the executive management of SIF Transilvania

Yesterday, after the Romanian National Securities Commission (CNVM) approved the decision of the shareholders of the company to implement dual management, Mihai Fercală, the president of SIF Transilvania, said that he will "most likely gof...

PLAYING HIDE AND SEEK WITH THE BUYERThe Cypriot Guinea pig breeding in Romania

The current situation in Cyprus has recently sparked a "bitter" between the Cypriot president Nicos Anastasiades and the governor of the French Central Bank, Christian Noyer.

Customers of Bank Of Cyprus Romania - they have their accounts frozen, but the National Tax Administration still expects them to pay their taxes

The case of the suspension of the operations of the Romanian branch of Bank of Cyprus has raised questions over the status of companies that have accounts opened with banks and are required to pay their taxes to the government.

GRUIA STOICA, GRAMPET:"The business sector has gone through and still is going through difficult moments"

Romanian entrepreneurs have gone through and are still going through difficult moments, businessman Gruia Stoica, the president of Grampet Group and president of the Romania-Kazakhstan business board says.

A MARKET OF 10-15 BILLION EUROSRomanian Parliament to approve the members of the Romanian Financial Supervision Authority today

The members of the Parliament have made it their schedule to validate today the membership of the Financial Supervision Authority, which will incorporate the Romanian National Securities Commission (CNVM), the Insurance Supervision Commission...

THE BURSA CONFERENCE - "FEMALE ENTREPRENEURS: WOMEN IN POWER - A BETTER WORLD"Female entrepreneurs - the most important engine of economic recovery

Romanian women can succeed in business just as well as men, in fact, sometimes, they can even do so with more responsibility and increased care for details, without making any concessions when it comes to quality.

"We've had parliamentarians from the Civic Force party who came knocking on the door, including ours at the ANRP, and who wanted to put in a good word for their relatives", said George Băeşu, preşedintele ANRP.

THE LAW OF RESTITUTIONThere is a big difference between the expectations of the former owners and what the government can do

George Băeşu, the president of the National Authority for the Restitution of Properties (ANRP), considers that the current law of restitution, for which the government has taken responsibility in the Parliament, is the only reasonable solution,...

Will Ben Bernanke go fishing this summer?

A recent news from Reuters states that this year, Ben Bernanke will not attend the monetary policy conference held at Jackson Hole by the Federal Reserve Bank of Kansas City.

Iwona Sroka: "The listing of the Proprietatea Fund in Warsaw in six months - a very ambitious target"

FOR OVER A YEAR, THE POLISH DEPOSITORY HAS BEEN TRYING TO CONNECT TO ROMANIAIwona Sroka: "The listing of the Proprietatea Fund in Warsaw in six months - a very ambitious target"

Obtaining the authorization for a connection between the Polish depository (KDPW) and the Romanian Central Depository, which should allow the listing of the Proprietatea Fund in Warsaw in the next six months, could be a very ambitious target,...

The Polish Experience with the creation of the Central Counterparty

In the interview she gave to BURSA, Iwona Sroka spoke about the Polish approach in authorizing the Central Counterparty (CCP), an institution which is a European requirement for the settlement of derivatives.

Rekkers: "Up until now, the banks did not finance agriculture, but the state"

EXCLUSIVE - THE FIRST INTERVIEW AFTER THE DEPARTURE FROM BANCA TRANSILVANIARekkers: "Up until now, the banks did not finance agriculture, but the state"

Starting with January 2013, Dutch banker Robert Rekkers is the general manager of Agricover Credit IFN, after he was appointed a non-executive member on the board of directors of Agricover.

THE LAW OF RESTITUTIONThere is a big difference between the expectations of the former owners and what the government can do

ATE BANK ROMÂNIA, ACQUIRED FOR 10 MILLION EUROSUmbrărescu and Burduja fulfill their dreams of a bank with Romanian capital

The acquisition of ATE Bank România by Dorinel Umbrărescu is the result of the desire to lay the foundation of a lender with domestic capital that would serve the interests of entrepreneurs in Romania, said Marinel Burduja, former first...

FOUR MONTHS AFTER THE OPENING,Designer Roberto Cavalli has officially inaugurated the luxury store in Bucharest

The extravagant Italian designer Roberto Cavalli, yesterday arrived in Romania at the official inauguration of the boutique that bears his name, located in the "The Grand" gallery within the Marriott.

The bids for the acquisition of Bank of Cyprus România, rejected

The Central Bank of Cyprus yesterday rejected the bids submitted by Banca Transilvania and Raiffeisen Bank for the total or partial takeover of the Romanian branch of Bank of Cyprus, according to sources, quoted by Mediafax.

ATE BANK ROMÂNIA, ACQUIRED FOR 10 MILLION EUROSUmbrărescu and Burduja fulfill their dreams of a bank with Romanian capital

The government has taken full responsibility for the law of retrocession

The government yesterday assumed responsibility before the Parliament, for the new version of the restitution of the plots of land and the immovables which were abusively seized by the former communist regime, after weeks of talks, interventions...

THE GOVERNMENT TAKES 72 MILLION EUROS FOR A 15% STAKECompared to Oltchim, the offer of Transgaz is a clear success

The Romanian state has earned 72 million Euros from the sale of the 15% stake in "Transgaz" that was offered to investors through the Bucharest Stock Exchange.

IN THE MAJOR BUCHAREST HOTELS,Business travelers can account for 90% of the occupancy rate

Bucharest hotel owners have seen slight increase in turnover last year, compared to the previous years, as several factors, (economic, domestic, social) helped this outcome.

GHEORGHE PIPEREA:"The measures taken by Bank of Cyprus violate the right of ownership"

The restrictions placed in Romania by "Bank of Cyprus" violate the elements of the right of ownership stipulated in the Civil Code of Law, namely possession, right to use and the right of the owners to dispose of their goods as they see...

The Bucharest Stock Exchange is waiting to see how attractive "Transgaz" has been to the institutionals

The offer of government to sell 15% of "Transgaz" (symbol: TGN) ended yesterday at 13:00, but the brokers did not announce its outcome until the closing of the edition.

The private management at CFR has fizzled

After about three months at the helm of CFR SA, Dimitris Sophocleous has resigned from the position of private manager of the company, due to the fact that the Minister of Transports has rejected the administration proposed by the Board of...

IS THE POLITICAL DICTATORSHIP OF THE EUROPEAN ELITES NEARING ITS END?Euro twilight

Just a few days after the ides of March, the barbarians have crossed the Rubicon into Aphrodite's island.

PROPOSALS THAT ARE GIVING THE ROMANIAN EXCHANGES COLD CHILLSDinu Marian: "Why not list the SIFs on a regional market?"

The Romanian exchanges do not offer the adequate framework for the trading of the SIFs, considers Dinu Marian, the president of the Board of representatives of shareholders of SIF4 Muntenia, which is putting out there the idea of listing the SIFs...

Siminel Andrei: "Stock investments are becoming an alternative, which is something that an option which the BSE needs to exploit"

GIVEN THE ISSUES IN THE BANKING SYSTEM, Siminel Andrei: "Stock investments are becoming an alternative, which is something that an option which the BSE needs to exploit"

The management of a company should comprise mostly people with direct business experience, whereas the stock market and the BSE have mostly people who have never led a private business as decision makers, says Siminel Andrei, the president of the...

Luxemburg abandons banking secret

The government in Luxemburg has announced that it will begin conducting data exchanges with the other countries in the European Union (UE) concerning the accounts owned in its banks by European citizens, thus changing its policy on banking secrecy.