English Section

23 noiembrie 2017

"The decision of the Court of Justice of the European Union - a great benefit for the Spanish borrowers"

PATRICIA SUÁREZ RAMÍREZ, THE PRESIDENT OF THE ASSOCIATION OF FINANCIAL CONSUMERS OF SPAIN:"The decision of the Court of Justice of the European Union - a great benefit for the Spanish borrowers"

The ruling issued by the Court of Justice of the European Union (CJUE) in the Andriciuc versus Banca Românească case represents a great advantage for Spanish debtors, said Patricia Suarez Ramírez, the president of the Association of Financial Consumers in Spain (ASUFIN), as part of a response recently sent to BURSA.

Assets of Liviu Dragnea and the other defendants in the Tel Drum case seized

The president of the Chamber of Deputies, Liviu Dragnea, leader of the PSD, thinks that his enemies are hiding behind some institutions, "they crucify people", and the real stake is "the blocking of the Laws concerning the Justice system".

The ECB proposes dropping the guarantee of bank deposits

The Council of the European Union and the European Parliament have sent to the ECB, in the beginning of this year, a request concerning the sending of some proposals to revise the framework for managing crises.

ANPC STRIKES AGAINBCR, slammed by the courts in a class action lawsuit over abusive lending clauses

After forcing Raiffeisen Bank to eliminate the unfair practices from the loan agreements, the National Consumer Protection Authority (ANPC) strikes again, this time the biggest bank in the system. BCR lost in the court of first instance, against the ANPC, in a class action lawsuit concerning abusive lending clauses.

OMV Petrom only answers the questions it wants

THE PARLIAMENT IS ASKING FOR INFORMATION CONCERNING THE INVESTIGATIONS WHICH OMV PETROM HAS BEEN SUBJECTED TOOMV Petrom only answers the questions it wants

The executives of OMV Petrom mentioned, in a letter addressed to the parliament, the existence of four lawsuits brought by the National Energy Regulation Authority (ANRE) and of seven audits by the Authority, between 2012-2017, as the recent request for information by the Commission for the Investigation of the activity of the ANRE targeted a period of 12 years, from 2015 to 2017.

1 Euro5.0759

1 Fr. elveţian5.4451

BNR

1 Liră sterlină5.8926

BNR

1 Dolar SUA4.3345

BNR

1 Gram Aur458.4241

BET18754.36

BET FI61683.01

BET NG1362.42

THE QUICK RISE OF THE INDEX WHICH SETS THE TREND FOR INTEREST RATES ON LOANS DENOMINATED IN LEI ISN'T STOPPING3-month ROBOR has jumped the 2% level

The 3-month ROBOR rate, which is used to calculate the interest rates, the majority of the loans denominated in lei, has jumped past the 2% psychological level, and yesterday reached 2.06%, up from Tuesday's 1.92%, according to data from the NBR.

THE EURO AT AN ALL-TIME HIGHAdrian Vasilescu, NBR: "The exchange rate is weakening to support the balance of payments"

The leu yesterday reached a historic low against the Euro, 4.6495 lei/Euro, up 1.05 over the previous meeting, marking the fourth day where the exchange rate was above 4.6 lei.

BCR is asking for the insolvency of the European Drinks group of companies

In October, the Romanian Commercial Bank, through Schoenherr şi Asociaţii, has submitted, with the County Court of Bihor, a request for the insolvency of the European Drinks group, owned by the Micula brothers. That group includes: European...

DUMITRU COSTIN (BNS):"OMV Petrom has caused a prejudice of 7 billion dollars to the Romanian state"

The management of OMV Petrom, namely Mrs. Mariana Gheorghe, as well as the representatives of the Romanian state on the Supervisory Board of OMV Petrom, Sevil Shhaideh and Radu-Spiridon Cojocaru will be invited to appear in the hearings on the...

"The fiscal revolution" of the PSD is one of an ultra-liberal nature

The government's proposal to transfer the social security contributions exclusively to the employee is not at all a social-democratic measure and not even one of redistribution, rather it is one of an ultra-liberal nature, which leaves the...

Banca Transilvania wants to buy 39% of "Victoriabank" Moldova

Banca Transilvania intends to buy an initial stake of over 39% of Victoriabank, the third largest bank in the Republic of Moldova, and together with the EBRD, would own a majority stake, according to a press release sent yesterday.

Fall of the shares of Electrica, after the decision to make a deal with the Proprietatea Fund

It seems the stock market did not take kindly to the approval of the transaction by which "Electrica" acquires the stakes of the Proprietatea Fund in its branches, at least for now, because EL stock dropped abruptly, immediately after the...

"The fiscal revolution" is over before it began

Finally, after many statements concerning the fundamental changes in the fiscal policy, announced from one day to the next and then denied, we have the argumentation note and the draft of the emergency ordinance to amend the Tax Code published,...

PSD SENATOR EUGEN TEODOROVICI:"The European Commission was shocked when it saw our projects for the Juncker plan"

Romania has embarrassed itself with the proposals that had been initially prepared for the Juncker plan, said Eugen Teodorovici. Mr. Teodorovici is the president of the Budget and Finance Commission of the Romanian Senate, member of the European...

ADVERTISING"Hot on the heels of esports" growth, PGL plans Asian and American expansion

Esports, no longer the "unruly" child of the tech and sports entertainment fields, has established itself as a legitimate and profitable industry. Romanian production company PGL is at the forefront of its acceptance and growth.

"Nobody at the BSE" Sobolewski resigned from the BSE

Ludwik Sobolewski handed in his resignation.

RUMORS: THE NEW CEO OF THE BSE, SOUGHT IN THE BANKING INDUSTRYCiprian Păltineanu, rumored as a potential CEO of the BSE

Even though the management of the Bucharest Stock Exchange has not been officially announced, the result of the interviews for the position of CEO held on September 25th, it seems that already a new search has been launched, which focuses on the...

Short-circuit risk in the General Shareholder Meeting of Electrica

The General Shareholder Meeting of Electrica set to take place today announces itself very interesting as, on the agenda, it includes the election of the members of the Board of Directors by applying the cumulative voting method, as well as...

THE ANPC STARTS THE REVOLUTION ON THE BANKING MARKET15 banks - fined by the ANPC for misleading advertising

The National Consumer Protection Agency (ANPC) recently fined no less than 15 commercial banks, on charges of misleading advertising, according to sources close to the situation.

The IPO of "Transilvania Broker de Asigurare" begins tomorrow

The subscription period for the IPO of Transilvania Broker de Asigurare (symbol: TBK), will begin on October 24th. According to the prospectus published on Friday by the company, the subscription price range will be 12 lei - 15.5 lei/share.

AFTER FINDING THAT THE STRATEGY OF RAIFFEISEN BANK WAS DISHONESTThe ANPC will audit all banks that have granted CHF loans

All the banks that have granted CHF loans will be audited by the National Consumer Protection Authority (ANPC), its chairman Bogdan Pandelică, announced yesterday in the Economic Commission of the Senate.

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...

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 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...

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...

<< more articles >>