Finance, Banking and Economic News - 17 December 2010 - financiare.ro
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Finance, Banking and Economic News
17 December 2010



Page: 1 

Romania succeeded in reversing its image of a "mediocre student", thanks to the fact that the government in Bucharest weathered the motion of no-confidence and the protests against the proposed spending cuts and layoffs demanded by the IMF, the head of the IMF mission for Romania, Jeffrey Franks said in an interview for Bloomberg, quoted by Agerpres. read more...


Romsys, one of the biggest IT services provider domestically, with 24m-euro turnover in 2009, counts on 10% higher revenues next year, says Radu Voicu, who is to be promoted next month as the company's sales manager. read more...


A new accord with the International Monetary Fund (IMF) is set to include conditions for new structural reforms related to workforce, infrastructure and investment, stated the IMF's mission chief to Romania, Jeffrey Franks, adding Romania is no longer viewed as a "mediocre student". read more...


The value of assets managed by mandatory private pension funds, pillar II, reached 4.15bn RON (967m euros) in late November, only 3% up from the previous month, according to the data provided by the Private Pension System Supervision Commission (CSSPP). read more...


Romanian wood exports annually go beyond one billion euros and are mainly operated by foreign players, most of them Austrians, which have invested hundreds of million euros on the domestic market and are now directing production to foreign destinations where prices are 5-10% higher. read more...


Transactions involving Fondul Proprietatea (Property Fund) shares, conducted via the Central Securities Depository, can be sealed until Wednesday December 22nd at the latest, when the Fund is officially placed under the authority of the National Securities Commission (CNVM) and becomes ruled by capital market legislation. read more...


At least 100,000 Romanians earn net salaries of more than 1,000 euros per month (4,300 RON), i.e. 2.3% of the 4.3 million salaried employees, according to data centralised by the National House of Pensions and Other Social Security Rights (CNPAS) based on the number of insured at the end of September. read more...


Constanta could become Romania's second busiest city on the shopping segment after Suceava, with two new malls in the process of being built - Maritimo and Cora -, which will bring investments in the city's shopping centres and hypermarkets to nearly 500 million euros. read more...


American GE Money, the financial services division of giant General Electric, has decided to leave Romania after five years during which it invested over 100 million euros, but without visible results. read more...


Romanian unionists and employers on Friday signed the national collective work Contract which sets the minimum wage in the private sector at 700 lei (EUR1=RON4.2953) and increases wages of qualified workers and foremen. read more...




Shops selling products made from hallucinogenic plants and located within 1.5 km of a school, dorm, hospital, church or train station have been banned in Bucharest, as per a decision by the city's council. read more...


Romania will have problems accessing instalments from the IMF if it will fail to comply to conditions in the IMF/EC agreement and the plan B would be take up loans fromthe market which is not a good thing, Romanian Finance minister Gheorghe Ialomitianu declared. read more...


Ireland lost 200 highly qualified IT jobs to Romania due to the deficit of well prepared graduates in the IT sector, Irish Independent reads in its online edition. Intel Ireland was on the short list to obtain a project but was advanced by Romania that put forward a better offer. read more...


Bucharest city hall general counsellors rejected on Friday the draft project regarding Bucharest's candidacy to host the 2020 Summer Olympic Games. After half an hour of debates, in which counsellors opinionated that the project is futuristic, unachievable, their vote rejected the project. read more...


The Social Democrats plan to block the promulgation of the law on salaries by postponing debates on the motions of censure that were submitted by the Opposition. According to Parliamentary sources, the opposition intentionally missed Friday the meeting in the Parliament when the second motion of censure was supposed to be read. read more...



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