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



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Catalin Parvu, head of the local subsidiary of the Greek at Piraeus Bank, says he is optimistic about 2011 and expects a wide-scale resumption of lending, be it just because banks will be forced to boost their revenue base. read more...


The operation of the Arad-Szeged pipe connecting the Romanian gas transmission system with the Hungarian one, and thus with other fuelling sources outside of Russia, is starting to produce its first effects, with around 2% of the overall amount of gas imported by Romania in 2010 being supplied through this interconnecting pipe. read more...


French group Carrefour, the biggest hypermarket operator on the Romanian market, which also holds Carrefour Market supermarkets, reported 1.13 billion euros in turnover in Romania in 2010, down 0.4% against the previous year, according to the company's financial report. read more...


17.01.2011, 00:05 | Business | 871 views
Seroussi factories see exports up
Apparel manufacturer J&R Enterprises controlled by businessman Joseph Seroussi last year reached 21.5 million euros in exports, 10% more than in 2009, a year when the company was the biggest exporter in the textile industry, according to a ranking put together by the National Association of Romanian exporters and Importers (ANEIR). read more...


Analysts say Romania will most likely not access the money available to it as part of the new arrangements with the IMF and the European Commission (EC), but will borrow from private financial markets, although its financing needs remain high, an estimated 19 billion euros for this year. read more...


Retailers, employers in the IT and the auto sector have announced they will make at least 8,000 new hirings this year. Whether they open new subsidiaries or develop a new business segment, companies such as Cora, Auchan, H&M, HP, Fujikura Automotive and ING continue investments, having already announced several thousand new jobs across Romania. read more...


Banks continue to charge loan application processing fees calculated as a percentage of the value of the loan, although the law on loans to consumers in force since the end of last year requires them to charge clients a fixed amount regardless of the loan value. read more...


Moody's rating agency has changed the Ba3 rating of telecommunications company RCS & RDS to "negative" from "stable", amid slower revenue increases, more aggressive plans than expected, lower liquidity and economic uncertainties in Romania and Hungary. read more...


In the past three years, over 52% of Fondul Poprietatea (FP) shares changed hands, according to data published by the Central Despository, with the value of transactions amounting to over 600 million euros, considering the prices thrown around the market. read more...


Romanians who were compensated for their communism-seized property in Fondul Proprietatea stock will not be taxed on the profit achieved in selling the shares on the stock market, according to Dana Mirela Ionescu, head of brokerage firm Raiffeisen Capital&Investment. read more...




The Romanian Union of Laid off Military Staff will stage protests in capital Bucharest on January 24 disgruntled that authorities refuse to observe court rulings on recalculated military pensions. read more...


A 60 year-old Romanian man diagnosed with AH1N1 flu and admitted in serious condition at a hospital in Iasi, eastern Romania, has died in the hospital, the local public health department said Monday. read more...


Romania’s leu extended early gains versus the euro in mid trade Monday and the central bank’s reference won 0.2% to 4.2578 units, from 4.2669 units Friday. read more...


Algocalmin and other drugs containing metamizole will only be available on prescription by August 2011, Romania’s National Medicine Agency said Monday. read more...


17.01.2011, 14:41 | International | 511 views
French knife stabbing Romania's back
Romania received a big mark on Friday, at Brussels, where the latest Schengen report was evaluated. Except that the „French professor” refused to sign the mark. Even though there were no observations or objections from other EU member states, the French representative called for supplementary time to study the report. read more...


The Romanian state was ordered to pay around EUR3.6 million in 2010, through the rulings of the European Court of Human Rights (ECHR), a lower amount than in previous years. read more...


Romanian economy minister Ion Ariton said Monday he would not agree with the shutdown with all Valea Jiului mines, adding he expects management and unions to come up with a long-term development plan. read more...


Nuclearelectrica and Hidroelectrica giants, the biggest producers of electric energy in Romania are ready to be listed at the stock exchange, Proprietatea Fund manager Greg Konieczny declared. He said that this can be a solution for the energy sector and also declared that three energy complexes, Turceni, Rovinari and Craiova should be restructured and then sold. read more...


Romanian Andromede Decor, the owner of gift and home decor retailer Bam Boo, entered insolvency procedures in order to reorganize its activity. read more...


The economic crisis has taken its toll on the Romanian IT sector, but not every region has suffered its effects to the same extent, as businesses in some areas have managed to cut their losses or even grow, according to a study by IT solutions provider Institutul pentru Tehnica de Calcul (ITC). read more...



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