Finance, Banking and Economic News - 11 May 2011 -
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Finance, Banking and Economic News
11 May 2011

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Romanian new car registrations rose 31.8% on the month to 4,999 units in April, but were down nearly 44% from the year-earlier month, Interior Ministry data showed Wednesday. read more...

Romanian carmaker Automobile Dacia has started the production of a new Duster model exclusively for export, Renault Romania director of communications Anca Oreviceanu said Wednesday. read more...

Hewlett-Packard (HP) will hire 600 people this year for its Global eBusiness Operation Centre (GeBOC) in Bucharest, which currently has a staff of 3,100, Alexander Weigl, the Centre's general manager, said in a press conference Wednesday. read more...

The employees of the Romanian Interior Ministry will soon go through integrity tests, given by undercover officers, said chief-commissioner Gabriel Constantin of the ministry's General Anticorruption Department (DGA) in a press conference on Wednesday. read more...

If Greece will restructure its debt it might have a significant negative effect on Romania’s economy, ING Bank chief economist Nicolaie Chidesciuc declared for read more...

Romania’s Foreign Affairs minister Teodor Baconschi will visit London on May 16 to prepare the official visit of Romania’s President Traian Basescu to Great Britain. Basescu is scheduled to visit London in June 2011, Baconschi said exclusively to read more...

Romania and Kazakhstan will be the most attractive emerging markets regarding investments in the next four years while their economies will grow, a Renaissance Capital analysis reveals, remitted to read more...

Romania will be the first country in the world where the land-based SM-3 (Standard Missile 3) interceptor missile system will be deployed, the agency coordinating US missile defense says. read more...

Martin Schuldt, general manager of Cargill Agricultura, one of the biggest players in grain trade, expects this year's agricultural yield to be similar last year's, so Cargill is not expanding its storage facilities along the Danube. He says it is however too early to make precise predictions about this year's crop, but specifies Romanian farmers are suffering because yields per hectare are lower than in Bulgaria and Hungary. read more...

Bankers prefer to place their money with the BNR (Romanian central bank) at an interest of just 2.25% a year on leu-denominated deposits in order not to take any chances on the economy. read more...

Public-Private Partnerships (PPP) do not mean that the Government comes with the plot and then sits around waiting for investors to bring the money, do the project and then share the benefits with the state, although quite a few government officials believe this is how things are. read more...

Petrom (SNP.RO), the biggest company on the market posted growth of business and profit, even though the market it operates on continued to go down. Repeated pump price hikes and cost cuts, however, helped it turn in its favor a demand that refused to grow despite tentative economic rebound since the beginning of the year. read more...

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