English Section

26 aprilie 2021

ANCA DRAGU, PRESIDENT OF THE SENATE"We want to increase women's role in entrepreneurship"

The Government is aiming to increase the role of women in society, respectively in entrepreneurship, and in that respect it is reviewing methods that have been successfully applied in other countries, according to Ms. Anca Dragu, Senate President, who says: "We are looking at measures aimed at increasing the role of women in society, in entrepreneurship, in civic and political activity. We are in talks with male and female ambassadors in Bucharest, and are making an assessment of the best methods that have been applied in other countries, from which we can draw inspiration so that we can achieve gender equality in a gradual and balanced manner. I am against sudden measures, taken «overnight». We cannot increase this role of women in society «overnight». We need to come up with balanced measures to implement in Romania, measures that have worked in other countries".

Can America still provide protection to its vassals in Western and Eastern Europe?

Paul Robinson, History professor at the University of Ottawa, recently wrote an editorial for the RT media network (Russia Today) stating that "a war between Russia and Ukraine is only possible if Ukraine attacks first".

Anti-corruption prosecutors investigating the Electroargeş case

FORMER ASF EMPLOYEE TO BE INVESTIGATED BY THE NATIONAL ANTI-CORRUPTION DEPARTMENTAnti-corruption prosecutors investigating the Electroargeş case

The refusal of the ASF (Financial Oversight Authority) to approve the mandatory public takeover bid for the Electroargeş SA shares, submitted by Investments Constantin SRL, will be investigated by the prosecutors of the National Anti-Corruption Department. BURSA reported in its February 15, 2021 issue, in the article "Preluarea Electroargeş SA, blocată la iniţiativa unui fost membru al Consiliului de Administraţie al SAI Muntenia Invest" (The public takeover bid for Electroargeş SA, blocked at the initiative of a former member of the Board of Directors of SAI Muntenia Invest)

The PLUS government, less Voiculescu

Readers of the BURSA newspaper yesterday anticipated the decision made yesterday by prime-minister Florin Cîţu. 55% of 1488 respondents to our poll launched following last week's events of the Foişor hospital voted in favor of Vlad Voiculescu being let go as Healthcare minister, while 45% claimed that their term needs to continue.

TEODORA STOIAN, ADVISOR TO THE MINISTRY OF JUSTICE: "Transposing Directive 2019/1023 introduces a culture of prevention"

The draft law for amending and supplementing Law no. 85/2014, a legislative initiative that will transpose into national law the European directive 2019/1023 will introduce a culture of prevention through the pre-insolvency procedures included in the future normative act, says Teodora Stoian, advisor to the Minister of Justice.

1 Euro4.9443

1 Franc elveţian4.7621

BNR

1 Liră sterlină5.9238

BNR

1 Dolar SUA4.3840

BNR

1 Gram Aur260.3177

BET13073.16

BET FI52134.63

BET NG859.35

Ivan Vrhel, CEO of Citibank Romania: "I think that it will take 1-2 years to see the real impact of the crisis on the increase in the cost of lending"

Citibank - 25 years of operation in Romania

"Banks are currently at a time where they are going through a reinvention"

(Interview with Ivan Vrhel, CEO of Citibank România)

REPORT FROM THE MALDIVESThe paradise in the Indian Ocean, naturally protected against Covid-19

The Maldives, spread across the Indian Ocean, are naturally protected from the coronavirus through their isolation from the rest of the world, surrounded by water. Maldives manages to bring back your sense of silence and normality, and the...

BEN MADADI, THE BIGGEST INDIVIDUAL INVESTOR IN SIF MUNTENIA:"The management of SIF4 does not promote the investors' interests, but the preservation of its own position at the top of the SIF"

• Ben Madadi: "It amazing how millions of people are being financially harmed"

• "A cleanup that is already long overdue needs to happen on the Romanian stock market, and investor rights need to be taken seriously", the investor...

The vaccination certificate, on the desk of the European Commission

On March 18, the European Commission presented the proposal for the implementation of the digital Green Certificate, in order to reopen tourism and free circulation within the EU, amid the so-called Covid-19 pandemic. We are not talking about a...

EXCLUSIVE FOR BURSA - STUDY ON FAVIPIRAVIRTerapia Cluj will be making the first anti-Covid treatment in Romania

Over the last year, the global topic has been the Covid-19 pandemic and the potential treatments which could be administered in the event of getting infected with this virus. Controversies on the topic are many, and in many countries various...

The increase in non-performing loans - one of the risks of the banking system this year

An increase in the volume of non-performing loans is one of this year's risks for the banking system, Gabriela Folcuţ, Executive Director of the Romanian Banking Association (ARB) told us. "The Balance of Non-Governmental credit evolved...

JAMES RICKARDS, AMERICAN INVESTMENT BANKER:"Indebtedness - an impediment to economic growth"

• "Markets currently overestimate the inflationary peril", says James Rickards

• According to the economist, in 2008 a dollar produced over 10 dollars worth of goods and services. Today that same dollar barely produces another three

OECD says the Biden plan will bring about an increase of 1% to the global economic growth

The US economic stimulus plan, proposed by President Joe Biden, was passed on Wednesday after receiving the final vote in the House of Representatives, creating a success for Joe Biden, 50 days after his appointment into office, but only...

Can the path of "progress" towards the new Dark Ages be barred?

"There is nothing left to discover in physics, all that's left to make the measurements more accurately," said Lord Kelvin towards the end of the nineteenth century

The war over the budget, or shivering during the cold transition

Drawing up the state budget draft, resuming the school year, in the second semester, with pupils and students physically attending courses, the waiving of free access to railroad transport for students, the protests of the public sector employees...

The plague of dancing

Tens, hundreds, sometimes thousands of people are seized by a frenzy of dancing, without any cause or plausible motivation, a frenzy which they are unable to control and which only total physical exhaustion ends. The collective phenomenon...

Mining in Romania is listening to its European death toll

• The European Commission has decided that coal needs to be replaced with renewable sources of energy by 2050

• Miners complain that the authorities are ignoring their proposals concerning what will happen to them after the closure of the mines...

The US plans to allocate almost 2 trillion dollars for the economic turnaround

• Republicans: "The stimulus plan passed by the American congressmen, too expensive and too badly targeted"

• Democrats want the passing of the plan by March 14

The House of Representatives in the US passed at the end of last week,...

The price of oil - expected to see the quickest rise in 30 years

• Investment banks estimate a price of 100 dollars/barrel in 2022

• Bank of America, Socar Trading and Energy Aspects have the highest estimate concerning Brent crude in the next two years

Investment banks and crude traders expect an...

Canceling the funding of exporters for participating in international fairs and exhibitions: What do we learn from this and what is to be done

Starting from the negative performance of some projects for organizing the participation of Romanian companies in international fairs, the Minister of Economy decided to stop their financing.

FISCAL AMNESTY OR SUPPORTING PRODUCTION? Romanian companies, on the edge of insolvency

2021 will be the year in which many companies, especially SMEs, will have to find solutions for survival. Entrepreneurs are in a position where they have to pay off their outstanding debts, rolled over from last year, and that will be mission...

Equality, Cinderella and the Revolution

Upon exiting the Middle Ages, poverty was the same everywhere, both in Russia, France, Romania or Denmark.

About 200 years ago, in the beginning of the 19th century, if your family was part of the poor, it didn't matter where you were born...

The NBR has criticized banks that have closed companies' accounts without notifying them first

SOME COMMERCIAL BANKS HAVE PASSED THE BLAME ON THE NATIONAL BANKThe NBR has criticized banks that have closed companies' accounts without notifying them first

For a long time, when some banks have to implement certain European directives, they blame the NBR in order to justify themselves, said Adrian Vasilescu, strategy consultant at the National Bank of Romania

THE BSE MARKET RISING (LAST YEAR), BUT...It is interest in foreign markets that increased among Romanian investors

The appetite of investors or traders in Romania for foreign markets exploded last year, which was reflected by the activity of brokerage firms which offer instruments to access the international markets (both via holding assets or via...

A debt of $281 trillion cannot be stabilized with a GDP of $79 trillion

Financial mathematics on a planetary level - trillions have become chump changeA debt of $281 trillion cannot be stabilized with a GDP of $79 trillion

The global debt has increased 24.1 trillion dollars în 2020, amid extraordinary programs to combat the coronavirus pandemic, amid a decline of nearly $ 1 trillion in Global Gross Domestic Product, according to the latest Global Debt Monitor (GDM)...

The agony of the concrete economy and the PM's statistics induced ecstasy

In the same country, in the same capital, on the same day, at the same time, CFR members protest, hoteliers and restaurateurs protest, a police union protests in front of the Government building, and the Prime Minister exults with joy and...

Financial reality allows itself to be penetrated by virtual currencies

Cryptocurrencies can no longer be ignored by banks and categorized as a fringe movement, something which has become increasingly evident lately as investment in the cryptocurrency market has grown considerably, and high-profile names such as Elon...

The takeover of Electroargeş SA, blocked by the initiative of a former member of the Board of Directors of SAI Muntenia Invest

THE ASF, THE INSTITUTION OF THE DRĂGOI CLAN?The takeover of Electroargeş SA, blocked by the initiative of a former member of the Board of Directors of SAI Muntenia Invest

The Financial Oversight Authority does not hesitate to amaze us every day through its rulings made in certain cases, in which either the Drăgoi family is involved, or its employees appear ephemerally, who make allegedly totally disinterested...

LONDON STOCK EXCHANGE LEFT BEHINDEuronext Amsterdam has become the most important European stock center

Euronext Amsterdam, the Amsterdam stock exchange, overtook the London Stock Exchange (LSE) in January 2021, becoming the largest European stock trading center, as Brexit forced EU investors to use platforms within the EU bloc.

The request of SIF Oltenia to have the decisions of the Ordinary General Shareholder Meeting of SIF Banat-Crişana of June 2019 will be heard in court again

BOGDAN DRĂGOI IS NOT OUT OF THE WOODS YETThe request of SIF Oltenia to have the decisions of the Ordinary General Shareholder Meeting of SIF Banat-Crişana of June 2019 will be heard in court again

• The decision of the shareholders of SIF Banat-Crişana to exonerate Bogdan Drăgoi, analyzed by the court of first instance

• The drawing up and the carrying out of a package of measures for the recouping of an alleged loss caused by former...

12 EXECUTIVES REMOVEDThe reorganization of the ASF - Camouflage for the execution of Claudia Sava and Florentina Boboc

Twelve heads heads of department and services have so far lost their well paid jobs from the Financial Oversight Authority (ASF), during the term of Nicu Marcu, in the context of the reorganization of the institution

Bitcoin and the Reddit phenomenon - is there a shared explanation?

New technologies, the internet, as a support for social media, can act as a factor for the "democratization" of access to dialogue, to the social and political life, to decisionmaking. To use a concept of Albert Hirschman "Exit, voice...

IS THERE HOPE FOR THE EU?Ursula, a Viorica with a longer European exposure

By taking on the role of coordinator of the European anti-Covid vaccination program, the European Commision, as well as the main centers of power have sought to show everybody what unity and effectiveness in the fight for the common good mean

7% - the deficit being worked with for the current year Liberalization for energy, open for restaurants, but vaccination has gotten stuck

January 2021 has debuted with the liberalization of the energy market for households, continuing, inter alia, with the cut of the policy rate, the decision that the interest rate cap is unconstitutional, as well as many controversies...

A HORDE OF BARBARIANS FROM REDDIT HAS SCARED THE SWOONING LADIES OF WALL STREETThe revolt against the hedge funds, the last hope of capitalism?

A Reddit group with millions of members, WallStreetBets, has been the main topic in the international press for the past two weeks. These investors, who call themselves "degenerates", perhaps in order to distinguish themselves from the...

"The biggest challenge at this time isthe availability of the vaccine"

THE BURSA VIDEOCONFERENCE: "ANTI-COVID-19 VACCINATION: RECOMMEDNATIONS AND PRECAUTIONS'' / ANDREEA-ANAMARIA MOLDOVAN, STATE SECRETARY IN THE MINISTRY OF HEALTHCARE:"The biggest challenge at this time isthe availability of the vaccine"

The anti-Covid vaccination is an ongoing hope to be able to resume our normal life as we wish, says Andreea-Anamaria Moldovan, Secretary of State in the Ministry of Health.

Reorganization or listing on the stock market?

One of the important ministries in any government, if not the most difficult to manage, is the Minis-try of Economy.

Currency war against European citizens

European Central Bank officials recently came to the press with statements questioning the "truth value" of the declarations made by the institution's president, Christine Lagarde.

EU PERCEPTION: Top ranked in terms of corruption, equality, Hungary, Bulgaria and Romania

The perception on corruption in the public system and the business sector in Romania remains unchanged, compared to 2019, just like in the case of Hungary, while Bulgaria is ranked one point higher than last year.

ASF chairman threatens market players breaking the law with harsh sanctions

Reporter: Lately, several employees of ASF have resigned or been fired. I would refer to Mr. Ciprian Copariu, who oversaw the capital market for almost 20 years. What is the reason for those departures? Are they related to the oversight failures...

"2020 has once again demonstrated the weak capacity of the economy in satisfying internal demand"

Reporter: What are the marks that 2020 has left on the entrepreneurial sector?

"Energy consumers need to escape the captivity of the universal service"

THE BURSA VIDEOCONFERENCE - "ELECTRICITY ON THE FREE MARKET. BILLS: WILL THEY GET HIGHER OR LOWER?" / NICULAE HAVRILEŢ, STATE SECRETARY, MINISTRY OF ENERGY:"Energy consumers need to escape the captivity of the universal service"

The current concern in the electricity sector is for all consumers to enter the competitive market, and the most important thing is that they "escape captivity," according to Niculae Havrileţ, secretary of state in the Ministry of Energy.

"CEZ will remain active in Romania, after the takeover by Australian group MIRA"

The CEZ Group will remain active in our country after the transfer of assets to the Australian group Macquarie Infrastructure and Real Assets (MIRA), focusing on energy trading and energy services, Ondrej Safar, CEO of CEZ Romania, said in an...

INTERVIEW WITH FLORIN JIANU, THE CEO OF CNIPMMR:"If national and european instruments have a quick enter in the economy, it will recover"

Small and medium-sized businesses have had a difficult year due to the Covid-19 pandemic, which has led to an unexpected crisis. 98.23% of entrepreneurs in our country claim that their activity has been affected by the current crisis, and 5 out...

Dozens of dead after getting Covid-19; a report from Norway dims the hope

A world scandal has arisen around the Pfizer vaccine and its safety, due to the fact that Norwegian official have declared that 29 people have died after the first vaccine dose.

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