Finance, Banking and Economic News - 17 February 2011 - financiare.ro
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Finance, Banking and Economic News
17 February 2011



Page: 1 

Bank Gutmann, the most important player on Austria's private banking market, managed to find almost 50 euro millionaires in Romania whose fortunes to manage. read more...


17.02.2011, 07:52 | Energy | 379 views
Rompetrol sees 500m-euro losses in five years
Rompetrol Rafinare (RRC), the main company part of Rompetrol group controlled by Kazakhstan's KazMunaiGaz group, last year reported losses of 669.7m RON (around 159m euros), the biggest in the company's history and one of the biggest losses registered by a Romanian company last year. read more...


Cora French retailer, present domestically with five hypermarkets, will enter the mall segment by launching Corall project of Constanţa in the second half of 2012, in the wake of 100m-euro investments. read more...


City Mall Shopping Center in Bucharest, which went bankrupt at the end of last year, will be put up for auction on March 31st for a starting price of 33 million euros, 70% lower than the transaction concluded four years ago, in which Australian group APN European Retail Trust paid over 100 million euros for the mall in the Eroii Revoluţiei area. read more...


17.02.2011, 07:55 | Business | 438 views
eMag targets 150m-euro sales this year
eMag, the biggest online retailer on the Romanian market, posted 102 million euros in turnover last year, up 60% against 2009, while the online electronics & IT retail market rose to 145 million euros. read more...


Romanian analysts are planning to improve their economic growth forecasts this year, after above-expectations data have been announced as regards the economic progression in 2010. read more...


The large number of signatures and stamps needed on documents issued by state institutions is only meant to cover the incompetence of workers in the administrative sector, which saw more than 100,000 employees removed from its ranks, but the system's reformation changed nothing. read more...


17.02.2011, 08:02 | Finance-Banks | 974 views
Banks' ranking in 2010
Last year the overall assets in the Romanian banking system rose by just 3.5% - the lowest increase in the last decade. The economic crisis also took its toll on the balance sheets of banks, which had to boost provisions and even remove loans from their balance sheets because they knew they would never recoup them. read more...


Romania’s tourism sector has overcome the financial and economic crisis as both hotels and tour operators have posted increased contributions to the country’s gross domestic product last year, Tourism Minister Elena Udrea said Thursday. read more...


Romania wants to double the number of foreign tourists that visit it by 2015 compared to the numbers recorder in 2010, according to the Tourism Ministry’s strategy presented Tuesday. read more...




Romania's construction output rose 17.6% on the month in December 2010, the highest increase in the European Union, official data showed Thursday. read more...


The sales of Romanian tour agencies dropped by an average 15% in 2010, compared to 2009, and dozens were forced to close because of the economic crisis, said Corina Martin, head of the National Association of Tour Agencies (ANAT). read more...


Romania will reduce the number of social services and beneficiaries, whose eligibility for assistance will be tied to their efforts to find work and their children's school performance, says a government paper obtained by Mediafax. read more...


Romania's Government is considering steps to recover money provided as social assistance to fraudulent beneficiaries, such as reducing later benefits or creating a repayment schedule, and will check the applicants' real source of income before disbursing such benefits in the future. read more...


The probationary employment period will be no longer than 90 calendar days, for both regular and management positions, and an employer will be allowed to have several people on trial for the same job, but for no longer than one year in all, says the latest draft of Romania's Labor Code. read more...


Every mention of the single national collective labor contract has been struck from the latest draft of Romania's Labor Code, which will be discussed Friday by Prime Minister Emil Boc, Labor Minister Ioan Botis and the major labor unions. read more...


A poll conducted by Romanian surveyor IRES revealed that 76% of Romanians would prefer to stay away from banks, while less than half of bank clients trust the lenders. read more...


Romanian Prime Minister Emil Boc said Thursday that Romania might emerge from recession by the end of March, having posted 0.1% growth in the GDP in the fourth quarter of 2010. read more...



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