English Section

18 octombrie 2017

OVIDIU DEMETRESCU, ARBA:"It is obvious that the managers of Electrica have not complied with the law"

The directors of "Electrica" (EL) violated the law when accepting the applications backed by the government for the elections of the new management, recorded eight minutes after the deadline from the convening notice, claiming they were submitted "within a reasonable delay", says Ovidiu Demetrescu, the president of the Romanian Association for Good Management (Asociaţia Română de Bună Administrare - ARBA).

EXCLUSIVE"EU member states do not support Donald Trump's policy against the nuclear deal with Iran"

Donald Trump, the United States president, must decide by October 15th whether or not he will certify if Iran has followed the terms of the nuclear agreement signed in 2015 by Iran and six major western powers.

EARTHLY LAWS, IGNORED ON THE BSE PLANETLudwik "My contract is over, but not my mandate" Sobolewski, CEO for life at the BSE

The Bucharest Stock Exchange (BVB), the operator of the Romanian capital market, still stands by the nonsensical claim made by its former CEO Ludwik Sobolewski, that his contract expired on August 21st, but not his mandate.

AT THE INVESTIGATIVE COMMISSION OF THE ACTIVITY OF THE ANRENiculae Havrileţ facing Iulian Iancu

Niculae Havrileţ, the president of the National Authority for Regulation in the Energy Sector (ANRE), together with other members of the Regulatory Committee of the ANRE, will arrive before the Commission for the Investigation of the activity of the ANRE.

"The fact that Digi has a reputation risk does not mean its shares are worthless"

RADU CRĂCIUN, APAPR, ABOUT THE INVESTMENT OF PRIVATE PENSION FUNDS IN DIGI, A COMPANY WHICH HAS CRIMINAL ISSUES:"The fact that Digi has a reputation risk does not mean its shares are worthless"

Mandatory private pension funds which have invested in Digi Communications, the parent company of RCS&RDS, which was indicted on money laundering and offering bribes, have taken this operating risk into account, by offering a lower price in the IPO, Radu Crăciun, member on the Board of Directors of the Romanian Association of Privately Managed Pensions (APAPR).

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

CAPTION:lg - real rate economic growth (GDP percentage)lu - unemployment rate percentageli - inflation rate percentagelb - budgetary deficit (consolidated general budget balance)lc - checking acount balance (in GDP percentage)

Credit Loan Civilization Finale - Insights Regarding European Union Developments

President of BURSA Press Group, Florian Goldstein (MAKE), participated, as speaker, on September 26th, at a debate regarding the future of the European Union, in Brussels, at the invitation of Group of the European People's Party....

Adrian Vasilescu: "The NBR has kept its weapons and ammo to intervene if hard times come"

UNICREDIT WARNS THAT THE ROMANIAN GOVERNMENT IS REPEATING MANY OF THE MISTAKES THAT HAVE LED TO THE RECESSION OF 2009-2010Adrian Vasilescu: "The NBR has kept its weapons and ammo to intervene if hard times come"

UniCredit Bank analysts are issuing a warning that the Romanian government is repeating many of the mistakes that have led to the recession of 2009-2010. The quoted experts are mentioning both the fiscal policy that is risky for the economy, as...

AFTER BEING FORCED TO MOVE THE BRD NĂSTASE ŢIRIAC TROPHY TOURNAMENT TO BUDAPESTIon Ţiriac is chasing Isărescu in the Parliament

PNL senator Daniel Zamfir, president of the Budget Commission in the Senate, a vocal critic of the banking system, of the NBR and of its governor is adamant about bringing up the activity of the NBR from all angles.

The promotion of the BSE to emerging market status may be postponed at least a year

The Bucharest Stock Exchange (BSE) remains a frontier market, for at least a year, after, on Friday night, FTSE Russell did not give promote it.

Iulian Iancu warns that in the name of solidarity, there is a risk of Romania getting into major problems itself in trouble when trying to save a neighboring country.

The ANRE and the Ministry of Energy are requesting the reconsideration of gas storage policies

The National Authority for the Regulation of the Energy Market (ANRE) has asked for the reconsideration of gas storage policies in Romania to be made a priority, Emil Calotă, the vice-president of the ANRE recently said, in the debates in the...

LUCIAN ANGHEL:"We can't expect the BSE to move to the emerging market status now"

We can't expect Romania to be upgraded to the emerging market status right now, BSE president Lucian Anghel said yesterday, as FTSE Russell will publish today its annual classification report.

After Rompetrol, the Chinese want Pro TV too?

Central European Media (CME), the owner of Pro TV, is currently in negotiations to sell the four TV stations it still holds in Central and Eastern Europe, according to Echo 24, which quotes several concerned sources.

BCR: "The sale of Cemacon's debt for 1 Euro was intended to save the company"

The Romanian Commercial Bank (BCR) is saying for the first time, that the sale of the Cemacon was made at a price of 1 Euro, and the lender stressed that this was done to save the company.

THE CONFERENCE "THE FUTURE OF THE ROMANIAN CAPITAL MARKET" - THE 6TH EDITION/MIRCEA URSACHE, ASF:"Ludwik Sobolewski is no longer the CEO of the BSE"

• Cappon, Prodan and Sobolewski yesterday had their interviews for the position of CEO of the BSE

FINANCE MINISTRY LAYS GROUNDWORK FOR BUYING GOVERNMENT BONDS DIRECTLY THROUGH THE TREASURYThe next bonds issue for the population will not be done through the BSE

The Ministry of Public Finance (MFP) has created the legal framework which will allow it to sell government bonds to the population directly through the State Treasury and intends to use that system for the next issue aimed at individual...

ANDRE CAPPON, CBM GROUP:"It would be better for the BSE to stay among the top frontier markets than enter the emerging market club"

Andre Cappon, the president of the CBM, Inc. group of New York, comes with a different perspective on the future development of the Bucharest Stock Exchange than that of the current management of the market operator. In his opinion it would be...

New candidates for the position of BSE CEO: Paul Prodan and Andre Cappon

Three candidates have been included in the race for the CEO seat of the Bucharest Stoch Exchange (BVB), during the internal selection process initiated by the Board of Directors, namely, Paul Prodan, the president of the Board of Directors of BT...

Dragnea: "It is a good thing to find out what was the play behind the move in the energy price"

PSD LEADERS HAVE APPROVED THE CREATION OF A COMMISSION TO INVESTIGATE THE ANREDragnea: "It is a good thing to find out what was the play behind the move in the energy price"

Social Democrat leaders have approved the request of PM Mihai Tudose to set up an investigation commission which would audit the activity of the National Authority for the Regulation of the Energy Market (ANRE) and the "play" behind the...

Luiza Maria Georgescu, chief of personnel at Nuclearelectrica, pushes the button which starts the listing of the company on the Bucharest Stock Exchange, on October 4th, 2013. Lucian Anghel and Ludwik Sobolewski were present, but the BSE doesn't remember it anymore.

THE MISSION OF BSE PRESIDENT LUCIAN ANGHELSinging Sobolewski's praises

In a promotional campaign that isn't justified by reality in any way, the Bucharest Stock Exchange (BVB) is being maneuvered by its president Lucian Anghel into posting wacky press releases almost daily, such as the one posted yesterday,...

THE CONTRACT INCLUDES A NON-COMPETE CLAUSESobolewski is entitled to half of the salary from the BSE for two more years

Even though the Bucharest Stock Exchange has announced it is looking for a CEO, it is likely that Ludwik Sobolewski will remain on the payroll of the BSE for two more years, because his contract includes a non-compete clause.

FINANCE MINISTRY ONCE AGAIN CONFIRMS WHAT BURSA HAS REPORTED BEFORE: "Hundreds of millions of Euros from our banks have gone to tax havens"

Hundreds of millions of Euros have gone from our banks to tax havens, Minister of Public Finance Ionuţ Mişa states, in an interview with a financial newspaper. The official thus confirms what BURSA has reported as early back as the beginning of...

Energy shouldn't be part of a political party

Reporter: What is your opinion on the decision of the authorities to once again change the Energy Strategy?

Radu Hanga:"The shareholders of the BSE want a functional Board of Directors"

THE ONLY CANDIDATE FOR THE BOARD OF THE EXCHANGE, IN THE GENERAL SHAREHOLDER MEETING OF SEPTEMBER 14THRadu Hanga:"The shareholders of the BSE want a functional Board of Directors"

Radu Hanga, senior advisor for the Board of Directors of Banca Transilvania, is the only candidate proposed to fill out the Board of the Bucharest Stock Exchange, after the death of Cristian Micu, as the shareholders are looking to make a...

ENERGY MINISTRY WANTS TO UPDATE THE ENERGY STRATEGY, BY MID-OCTOBERCutişteanu: "The amendment of the Energy strategy in one month - a bad joke"

The amendment of the Energy Strategy in one month is a bad joke, says Jack Cutişteanu, CEO of Petprod, reacting to the announcement made by the representatives of the Ministry of Energy, according to which the Romanian authorities intend to...

ISAR, ABOUT THE CONSTANT INCREASE OF THE EURO:"The movement of the exchange rate - the best way for the NBR to pressure MPs"

The leu yesterday weakened again, reaching the level of 4.5985 lei against the Euro, after on Monday it was quoted at 4.5958 lei.

Dragnea wants the managers of pension funds to work for free

The 2nd pension pillar continues to be the focus of politicians, who come out with conflicting statements on the matter. After last week, PM Mihai Tudose and deputy prime-minister Marcel have confirmed that the Government is working intensely on...

THE BSE CRISISSobolewski drove away one quarter of investors

The embarrassing situation generated at the Bucharest Stock Exchange (BSE) by its former CEO Ludwik Sobolewski, who, with the complicity of BSE president Lucian Anghel, has tried, against the will of the Board of the Exchange, to perpetuate its...

IF THE CONTRIBUTION IS REDUCEDDochia: "The 2nd pillar will die a slow death"

The 2nd pension pillar is once again grabs the attention of the public, after information from sources surfaced yesterday that the Ministry of Public Finances intends to cut by half the contribution to the private mandatory pension funds.

Two days of gridlock at the BSE. Does Anghel want to perpetuate it?

Ludwik Sobolewski announced, on Monday night, that he has decided not to exercise his mandate as CEO of the Bucharest Stock Exchange, "even though he could", invoking an alleged difference between "mandate" and "the mandate...

The man called by the author "citizen Cepraga" is a Senior PR Specialist at the BSE and in that position, he conducts interviews with Sobolewski on stadiums.

Sobolewski's madness

We are left with one expression - "You've stooped to Sobolewski's level?!" - because the former CEO of the BSE has become a proverbial figure through his unprecedented scandal which he sparked off yesterday, after the end of his...

Mihai Fercală, SIF Transilvania: "Sobolewski's mandate has expired"

Mihai Fercală, the executive chairman of SIF Transilvania, a shareholder which owns approximately 8% of the BSE, thinks that the mandate of Ludwik Sobolewski as CEO of the BSE has expired yesterday, August 21st.

THE LAST DAY OF HIS TERMSobolewski, likely to hand in the keys at the BSE

Starting today, Ludwik Sobolewski should be handing in the keys to the BSE (more specifically, the access card, the computer passwords), as well as the goods availed to him by the exchange - the car, the phone, the laptop.

27 banks - no profit, no taxes paid

Twenty seven banks haven't paid any profit tax in the last 6 years, which has shaken Minister of Public Finances Ionuţ Mişa, as well as some MPs, bankers and even the Governor of the National Bank of Romania (NBR) Mugur Isărescu.

11 DAYS LEFT / TRICKS TO FORCE THE EXTENSION OF THE MANDATE OF THE CEO OF THE BSEAnghel wants to bring down the barriers in front of Sobolewski

Considering how many tricks Lucian Anghel, the president of the Bucharest Stock Exchange has tried, in order to extend the term of CEO Ludwik Sobolewski, it would be actually crazy if they didn't pull it off.

JACK CUTIŞTEANU, PETPROD:"The state speculates the economy and household consumers, through Hidroelectrica, CEO, Nuclearelectrica and CEH"

The state speculates the economy and household consumers, through Hidroelectrica, CEO, Nucleareletrica and CEH, says Jack Cutişteanu, the CEO of Petprod, referring to the evolution of the price of electricity on the spot market of the OPCOM...

"Three quarters of Romanian banks haven't paid any profit tax in the last five years"

FINANCE MINISTER CONFIRMS WHAT BURSA REPORTED FIVE MONTHS AGO:"Three quarters of Romanian banks haven't paid any profit tax in the last five years"

Public Finance Minister Ionuţ Mişa says that almost three quarters of banks operating in Romania haven't paid profit tax in the last few years. With that statement, the head of the Finance Ministry confirms what BURSA reported five months ago.

GABRIEL DUMITRAŞCU, ABOUT THE INCREASE OF THE PRICE OF ELECTRICITY:"There is a profound management crisis of in the energy system "

The price of electricity and its increase on the Day-ahead market (PZU) of the OPCOM exchange keeps causing discontent among the players and specialists on the market and is keeping consumers on edge, as they will probably feel the price hikes of...

EUROPEAN MP RAMONA MĂNESCU:Hungary's decision concerning the BRUA goes against Europe's Energy Security Strategy

The announcement of Hungarian gas operator FGSZ that BRUA would end in Hungary instead of in Austria was surprising and it didn't come as a result of consultations with its regional partners or the European Commission, European MP Ramona...

STOCK MARKET SOURCES:Lucian Anghel wants Sobolewski as CEO of the BSE for four more years, for the same salary

Lucian Anghel, the president of the BSE, today summoned the Board of the BSE to discuss the terms of the contract of Ludwik Sobolewski, whose mandate expires on August 21st. According to sources close to the situation, Lucian Anghel is going to...

IN THE ROW OF THE DOUBLE STANDARDPetre Daea has exasperated Mihai Tudose

The results of the tests concerning the double standard, conducted on some of the foods and presented on Wednesday by agriculture minister Petre Daea has raised a series of questions, angering both the press and the representatives of consumer...

ROW AROUND OLTCHIMGheorghe Piperea trading jabs with Ştefan Vuza

At Oltchim there is corruption and there are no parasite companies, lawyer Gheorghe Piperea, bankruptcy trustee of the Râmnicu Vâlcea plant, in response to the statements made over the course of last week by Ştefan Vuza, the owner of Chimcomplex...

SOURCES CLOSE TO THE SITUATION:"The Austrians of Strabag are asking for 140 million Euros for the Marriott building in Bucharest"

The Austrians of Strabag are asking for 140 million Euros for the building the Marriott hotel of Bucharest is operating in, according to sources close to the deal.