Finance, Banking and Economic News - 12 May 2011 -
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Finance, Banking and Economic News
12 May 2011

Page: 1 

Romanian clients of Volksbank demanded the Court to find Volksbank International AG that owns 99.3384% of the local branch in Romania responsible for the acts of the branch in Romania. read more...

The government approved on Wednesday a decision interdicting the installation of overground urban networks on the public domain including telecommunications, water, energy, thermal networks. read more...

Romania will contribute by 22 billion American dollars to the growth of the constructions sector in the upcoming 10 years, representing the fourth biggest contribution in Central and Eastern Europe after Russia, Turkey and Poland but it will have even a bigger contribution than Czech Republic, Ukraine and Hungary to the world’s growth, a press release of the local PricewaterhouseCoopers branch remitted to HotNews reads. read more...

Google announced that Romanian users will be able to purchase online applications from Android Market shop. So far, those in Romania were able to install just free applications but they could not purchase programs. Android Market has 200,000 applications. AppStore has over 300,000 and Romanian have been able to purchase applications from it for several years now. read more...

12.05.2011, 23:32 | Travel | 1355 views
Radisson boss sees hotel market rebound
Ali Yilmaz Yildirimlar, general manager of Radisson Blu hotel complex of Calea Victoriei, which operates 718 rooms, maintains operating income had a two-digit advance in the first four months of this year, as almost 70% of rooms were occupied on average. read more...

"Bring clients" is the main target set for the BRD network this spring, says Roxana Cosmescu, recently appointed as an executive manager with the commercial pole of the network of BRD, the second largest domestic bank. read more...

City Mall shopping center in Bucharest, currently bankrupt, might find a buyer at the third auction, for a price of at least EUR 26.2 million, considering Casa de Insolvenţă Transilvania, the project's liquidator, sold a document detailing the conditions of contract to an interested investor. read more...

Fondul Proprietatea (Property Fund - FP.RO) shares lost 6.5% in the beginning of yesterday's session, after the ex dividend day, but gained back 4% towards the end, amid unofficial information that the Government would not start to make compensation payments yet. read more...

AXA Life Insurance, a company that entered the Romanian market last year, when French giant AXA took over Omniasig Life, plans to become one of the top five players on the life insurance market in terms of sales of new policies by 2014. read more...

Only 11 people know a few hours in advance the value of the most awaited indicator in Romania, set to be released today: the GDP growth in the first quarter of 2011 against the fourth quarter of 2010. 10 of them are members of the Department of National Accounts within the Statistics Institute, and the 11th is the president of the National Statistics Institute, Vergil Voineagu. read more...

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