English Section

22 mai 2014

Businesspeople are unhappy that the prime-minister is ignoring them

THE SPECIAL CONSTRUCTIONS TAX / THE COALITION FOR ROMANIA'S DEVELOPMENT, IGNOREDBusinesspeople are unhappy that the prime-minister is ignoring them

Even though they have banded together into an entity whose goal is to discuss with the authorities the issues investors are faced with, businesspeople now find themselves needing to publicly protest against the tax on special constructions, as prime-minister Victor Ponta was adamant that everything concerning the application of this tax is clear. "Everybody has understood very clearly what tax statements they need to file and what they need to pay", the prime-minister recently said.

THE SPECIAL CONSTRUCTIONS TAX HAS NO APPLICABILITYA special government

The Ordinance concerning the tax on special constructions has major problems that can't be solved by the clarifications passed yesterday in the government meeting, representatives of the business sector told us.

Dumitru Costin suspects Dutch or Russian interests when it comes to the Constanţa port

THE SCANDAL OF THE TRANSFER OF 13% OF THE PORT OF CONSTANŢA TO THE LOCAL COUNCILDumitru Costin suspects Dutch or Russian interests when it comes to the Constanţa port

Suspicions concerning foreign interests are once again being brought up, following the proposal to shift a 13% stake of the Port of Constanţa from the Ministry of Transports to the Local council, an issue which sparked a huge scandal and has caused hundreds of employees of the port to take to the streets to protest the move.

One customer accuses XTB Romania of unjustly canceling some of his trades

One customer of XTB is accusing the brokerage firm of unjustly canceling a number of his trades closed at a substantial profit, claiming that they were performed at the wrong price.

AFTER THE PROSECUTORS' SEARCHES AT 49 BRANCHESVIG has begun an internal audit at Omniasig

Vienna Insurance Group (VIG) is conducting its own audits at "Omniasig", where last week searches were conducted and several people are suspected by the prosecutors of abuse in office and forgery.

The prosecutors of the High Court of Cassation and Justice have stated that Omniasig would conclude optional insurance policies and would backdate them, to make it look like they had been signed prior to the law which made it mandatory to conclude mandatory home insurance policies, and to collect the insurance premium for the PAID.

1 Euro5.0810

1 Fr. elveţian5.4596

BNR

1 Liră sterlină5.8849

BNR

1 Dolar SUA4.3461

BNR

1 Gram Aur466.3616

BET18858.05

BET FI61868.7

BET NG1363.44

Mişu Negriţoiu vouches for "Omniasig", a company being investigated for forgery

The Financial Oversight Authority (ASF), the institution in charge of overseeing the insurance market, the one which should have prevented the resounding scandals uncovered by the prosecutors, yesterday sent a "reassuring" message to the...

ONE ROW AFTER ANOTHER IN THE INSURANCE INDUSTRYThe police comes knocking at "Omniasig"

Yesterday, the prosecutors searched 49 "Omniasig" branches, on suspicions that the CEO and over other 40 executives forged over 1 million insurance policies, just one day after Peter Hagen, the head of Vienna Insurance Group (VIG), which...

AN ACQUISITION OF 628 MILLION EUROS FOR THE ROMANIAN ARMYF16 aircraft to be used for the Air Police

The 12 F16 Block 15 aircraft recently acquired by the Romanian Air Forces, will be used for the air police, as well as for fighting enemy actions, according to sources in the Romanian army.

"One in two newly created businesses disappear in the first year of life"

THE FEMALE ENTREPRENEURSHIP CONFERENCE - SECOND EDITION / ANCA IONESCU, THE MINISTER OF THE ECONOMY:"One in two newly created businesses disappear in the first year of life"

In preparing government strategy for supporting SMEs and improving the business environment 2020 has uncovered two major problems: there is a very small number of active small enterprises, a very small number of medium enterprises and too few of...

CRISTINA CHIRIAC:"The idea is perhaps 1% of the success of a business"

The outcome of a business comes from the mark of the entrepreneur, says Cristina Chiriac, the chairwoman of the National Association of Entrepreneurs.

"Moments of depression can be overcome with new achievements"

THE FEMALE ENTREPRENEURSHIP CONFERENCE - SECOND EDITION / MONICA IAGĂR, PROFESSIONAL ATHLETE:"Moments of depression can be overcome with new achievements"

Athlete Monica Iagăr, professional athlete, considers that business, just like sports, should only be done as long as being involved in business offers happiness, even if though there may be some difficult moments.

"Let's not underestimate the women in the rural areas!"

ANDREEA PAUL, VICEPRESIDENT OF THE BUDGET, FINANCE AND BANKS COMMISSION OF THE CHAMBER OF DEPUTIES: "Let's not underestimate the women in the rural areas!"

Almost half of the domestic companies are led by women (43% in 2012), said Andreea Paul, the vice-president of the Budget, Finance and Banks Commission of the Chamber of Deputies.

THE FEMALE ENTREPRENEURSHIP CONFERENCE - SECOND EDITION / ALINA FLOROIAN, SALROM:"The profit of the National Salt Company has increased 86%"

The National Salt Company - Salrom SA last year achieved a profit of 38.7 million lei, up 86% over 2012, said Alina Floroian, marketing economist with the company.

THE FEMALE ENTREPRENEURSHIP CONFERENCE - SECOND EDITION / GABRIELLA BISI, SHE BUSINESS:"The law of unemployment must be amended"

The current law of unemployment must be amended, to stop the discrimination against entrepreneurs and businesspeople that remain jobless, said Gabriella Bisi, the chairwoman of the "She Business" business club.

THE FEMALE ENTREPRENEURSHIP CONFERENCE - SECOND EDITION / ANCA VLAD, CATENA GRUP:"You can't build a successful business without taking risks"

Anca Vlad, the CEO of Catena Grup, is an ardent supporter of entrepreneurial spirit and thinks that you can't have a successful business without taking risks.

THE FEMALE ENTREPRENEURSHIP CONFERENCE - SECOND EDITION / SORANA MANTHO, PHILIP MORRIS:"Entrepreneurship is a state of mind"

Entrepreneurship has no gender, says Sorana Mantho, Head of Corporate Affairs at Philip Morris Romania and Bulgaria, who thinks that the recipe of success in business is that of "common sense, which any professional applies in his...

"Romania needs to encourage entrepreneurial spirit more"

THE FEMALE ENTREPRENEURSHIP CONFERENCE - SECOND EDITION / RAVI BUCK, ECONOMIC OFFICER AT THE US EMBASSY:"Romania needs to encourage entrepreneurial spirit more"

Romania must encourage entrepreneurial spirit more, through greater transparency and through a more stable fiscal environment, Ravi Buck, economic officer of the US Embassy told BURSA.

"It is a good thing to have a mentor when you go into business"

THE FEMALE ENTREPRENEURSHIP CONFERENCE - SECOND EDITION / CORINA VINŢAN, CEO LINKS ASSOCIATES:"It is a good thing to have a mentor when you go into business"

A woman should have a mentor when setting herself off in business, according to Mrs. Corina Vinţan, CEO Links Associates, who thinks that female entrepreneurs should start businesses that would contribute to overall growth.

THE FEMALE ENTREPRENEURSHIP CONFERENCE - SECOND EDITION / SMARANDA VORNICU, BLUES LINE SALONS: "We can't rely on politicians"

Female entrepreneurs can't rely on politicians, said Smaranda Vornicu, Managing Partner Blues Line Salons: "We need to help ourselves so we can one day break through that glass ceiling and reach the world of big business".

"Any thing that is done well will produce results"

THE FEMALE ENTREPRENEURSHIP CONFERENCE - SECOND EDITION / ADRIANA TĂNĂSOIU, THE CENTRAL DEPOSITORY:"Any thing that is done well will produce results"

Any thing that is done well will show results, says Adriana Tănăsoiu, the CEO of the Central Depository.

GHEORGHE PIPEREA:"There are some banks that blackmail their clients"

There are some banks on the Romanian market that blackmail their customers into not working with certain law firms, according to lawyer and professor Gheorghe Piperea Law PhD.

APMGR asks for more transparency in the calculation of the clawback tax

The Romanian Generic Drug Manufacturers Association (APMGR) asks for more transparency in the calculation process of the clawback tax, by the reporting of the number of discounted units by the National Health Insurance Fund (CNAS), in the...

CRITICISM AGAINST THE LEGISLATIVE DRAFT BACKED BY THE BSECeocea is less prideful than Sobolewski

The stock market community has been keeping silent even though two months ago, a draft for amending the legislation has been forwarded to the prime-minister, originating, at least officially, from Ludwik Sobolewski, Florin Pogonaru and Steven van...

EXCLUSIVE - INTERVIEW WITH A SPY"Moscow has paid off the majority of the Bundestag"

The scenario of a conflict in Ukraine has become increasingly likely, as the forces involved in this conflict - the Ukrainian army, Russia, the US - are ready to intervene. Already, the violent fights in the region have caused victims.

DIICOT conducting searches in a case reported by BURSA two years ago

Last week, the prosecutors of the DIICOT have announced that they have conducted an operation for dismantling a criminal faction specializing in the manipulation of the stock market.

THE SENATOR ŞERBAN VALECA:"In 2050, 45% of the country's energy must be provided by the nuclear power plants"

Our country will have to ensure for itself 45% or the power demand from nuclear sources by 2050, compared to18-20% as it is for the moment, states the senator Şerban Valeca, who is also the president of the scientific council of the Piteşti...

EXCLUSIVEAlexandru Lele: "Victor Ponta is afraid of the truth coming to light, in the case of the death of Cristian Panait"

Oradea prosecutor Alexandru Lele is the one who, in April 2001, ordered the arrest of Adrian Tărău, the son of an influential sponsor of the PSD who was also the prefect of the county, under the charge of complicity in the oil products smuggling....

AstraZeneca rejected the 63.1 billion pounds offer by Pfizer for taking over the British Company

The AstraZeneca Board of Directors rejected on friday the improved offer for taking over the British company by the American group Pfizer, that evaluated AstraZeneca at 63.1 billion pounds (106.5 billion dollars), considering the proposal terms...

The battle between Pogonaru and Ciurezu, won by Bîlteanu

Tudor Ciurezu, the CEO of SIF Oltenia, seems to have won the first battle in the conflict with businessman Florin Pogonaru, at least according to the way some investors are viewing the outcomes of yesterday's General Shareholder Meeting,...

The ASF has broken up "the concert" at SIF Oltenia

The shareholders of SIF Oltenia are meeting today in the General Shareholder Meeting to approve the balance sheet, on the second convening, which could provide a picture of the strength of the factions within the company, wherein the conflict...

THE CEO OF THE BSE, SURPRISED AT BEING QUESTIONED IN THE GENERAL SHAREHOLDER MEETINGSobolewski has finally come down from the heavens

Accustomed as he was to the reverence that he was received with in the beginning, Ludwik Sobolewski, the CEO of the BSE, must have had a shock on Friday, at the General Shareholder Meeting, when the market community, which he remembered to be...

THE 45TH EDITION OF THE GENERAL SHAREHOLDER MEETING OF THE WTCA Cristina Chiriac: "The opportunities for global growth do exist!"

Reporter: Please give us more details about the international event that World Trade Center Bucharest will be hosting in the coming days.

Sobolewski takes it too far; Dan Paul reacts

The admirable restraint shown by market participants for more than eight months now has been broken by the president of the Association of Brokers, Dan Paul, who just couldn't take it anymore after the aberration proposed by the CEO of the...

RĂZVAN NICOLESCU, THE MINISTER OF ENERGY:"Starting in 2019-2020, we will be producing more natural gas than what we consume"

According to the Delegate Minister for Energy, the tense situation in Ukraine is no major problem, because Romania is ready to deal with any situation. He told us in an interview that the country has enough domestically produced gas to meet...

Gabriel Dumitraşcu: "For the IPO of Electrica, we want to attract the money that is running away from the region"

THE TENSIONS IN UKRAINE, AN OPPORTUNITY FOR ROMANIAGabriel Dumitraşcu: "For the IPO of Electrica, we want to attract the money that is running away from the region"

Gabriel Dumitraşcu, the head of the Privatization Office of the Department for Energy, told us that he is more cautiously optimistic when it comes to the success of the IPOs scheduled to take place this year, in the current geopolitical and...

"We still make decisions based on pride and personal ambitions"

EXCLUSIVE - INTERVIEW WITH CRISTIAN AGALOPOL, THE PRESIDENT OF THE CENTRAL DEPOSITORY"We still make decisions based on pride and personal ambitions"

After the Bucharest Stock Exchange proposed the "in-house" development of a technical solution for joining "Target2-Securities" (ed. note: the single European service for cross border settlement), as they consider the investment...