Finance, Banking and Economic News - 11 January 2011 - financiare.ro
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Finance, Banking and Economic News
11 January 2011



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Mining companies all over the world expect the current high gold prices to persist throughout 2011, according to the PwC Global Gold Price Survey. read more...


The forex market, the biggest domestic market, last year managed to return to growth after having plummeted in 2009, with the total volume of operations going up by 13%, to 397bn euros, namely more than three times the value of GDP. read more...


11.01.2011, 00:07 | Business | 418 views
Retail market in 2011
Retail will this year be marked by the arrival on the market of three of the biggest European players: Lidl, H&M and Leroy Merlin. On the other hand, Romanian players in this field will in their turn be the actors of some major events: Flanco electronics and electrical home appliances retailer plans to exit insolvency in March, and Romanian businesspeople will expand their retail businesses. There still are doubts about the arrival of Tesco and consumption rebound. read more...


Valea Dacilor, Topolog, Casimcea, Dăieni or Valea Nucarilor are just a few of Dobrogea communes standing a chance to become real stars this year as international players are coming up with over 2bn euros to build around 450 windmills. read more...


Billa supermarket network, part of Germany's Rewe, shut down its store in Suceava before Christmas, which had operated since November 2008 on a plot of land rented for 25 years from Suceava businessman Ioan Iftodi. read more...


Dacia's biggest market in 2012 will be the UK, according to company officials, the third big European market that the French have set out to conquer with the Romanian brand, after France and Germany. read more...


Banks can now levy a fee of as much as 20 RON on the amounts transferred to the customers' account through a payment order. The fee is hard to justify and has been introduced by bankers as an alternative source of revenue at a time when loan sales are very poor. read more...


Taxation of big fortunes will target 1-2% of taxpayers, with the target group including people with big fortunes or big spending who did not declare their incomes, according to Finance Minister Gheorghe Ialomiţianu. read more...


In his first press conference after more than four months in office, Finance Minister Gheorghe Ialomiţianu announced he wanted Romania's financial situation midway through this year to allow for social contributions to be cut, with a VAT change being out of the question. read more...


Here is how the restructuring was done: the government cut 19,000 positions from the education system and 13,000 from hospitals, but only 9,000 from ministries. The number of civil servants in the Internal Affairs Ministry went up by 1,500, to 149,000. read more...




Romania’s annual inflation rate reached 7.9%-8% at the end of December, following the sales tax raise in July, economic analysts said, and the central bank missed its target for the fourth consecutive year in 2010. read more...


IMF to release on Tuesday the seventh installment to Romania, worth over 900 million euro, money that will enter the accounts of the National Bank, Romanian news agency Agerpres informs. read more...


Romania’s net average salary in November was at 1,377 lei (EUR1=RON4.2643), up 2.8% from the previous month, due to granting of vacation bonuses an returns from furlough, the country's statistics institute said Tuesday. read more...


Romania’s Government may introduce specific counter measures on the market, as special purpose taxes, against the producers who increase fuel prices rapidly and unjustifiably, Prime Minister Emil Boc told the public TV station Monday evening. read more...


The rise in temperatures has heightened the risk of avalanche on the slopes of the Bucegi Mts. (center-south) at altitudes of over 1,800 meters, close to the Omu Peak, where there is a higher accumulation of snow. read more...


The budget deficit target is 8 billion lei, in the first quarter of 2011, one third of the 24 billion lei deficit, respectively, namely 4.4 percent of the GDP, as agreed with the International Monetary Fund (IMF), for the current year, FinMin Gheorghe Ialomiteanu said. read more...


The ruling coalition parties delegated representatives to form a team to device a plan of steps aimed at the economic re-launch, one of the team’s developer, vice president of the Hungarian Democratic Union of Romania (UDMR – in the ruling coalition) and Environment Minister Laszlo Borbely told on Monday. read more...


Romania has to borrow three billion euros from the foreign market to finance its budget deficit amounting to 4.4 percent of the Gross Domestic Product (GDP), in 2011. read more...


The Technical Commission within the Ministry of Labour finished on Monday the Employers’ Law whose main consequence is to clear up the social dialogue, only five or six entities out of a total of fourteen remain to take part in national negotiations, declared Ioan Cezar Coraci, chairman of the General Confederation of the Romanian Industrial Employees (UGIR-1903). read more...


Building houses by the National Housing Agency (ANL) will be given priority support this year in those towns where the local public administration is getting involved in the sale of such homes, Minister of Regional Development and Tourism Elena Udrea said in Braila (northeast of the capital) on Monday. read more...



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