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



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Romania's Government on Wednesday survived a motion of no-confidence filed by the opposition, which failed to acquire the necessary votes, meaning the amended Labor Code is closer to becoming law. read more...


A Japanese helicopter started on Thursday morning to pour water on reactor 3 of the Fukushima Daiichi plant to cool it down, Jiji news agency reports quoting the National Japanese Defense Agency. This operation is a priority because the smoke cloud is bigger and bigger, the agency reads. read more...


The Social Liberal Union, the alliance of the opposition submitted a contestation at the Constitutional Court on the government’s decision to take responsibility for the new labour code and for some articles in the normative act, Social Democratic Party spokesperson Radu Moldovan declared for news agency Agerpres. read more...


Apartment rents in Romania fell by up to 12% in March compared with September as owners preferred to rent out dwellings rather than sell them, according to a survey of property website imobiliare.ro. read more...


Romania’s leu recovered early losses against the euro in mid trade Thursday and the central bank’s reference firmed to a new nine and a half months high at 4.1788 units. read more...


Romanian Foreign Minister Teodor Baconschi on Thursday asked the National Commission for the Control of Nuclear Activities to set up an emergency unit and report in every 12 hours on the situation in Japan. read more...


Romanian economic outlook for the next six months improved in March, propelling the country to the third spot among the best business destinations in Central and Eastern Europe, a ZEW/Erste survey showed Thursday. read more...


Romanian oil company OMV Petrom (SNP.RO) proposes the allocation of only locally made natural gas to household consumers, coupled with the liberalization of gas prices for industrial consumers. read more...


Employers will have to create files for each of their employees and provide copies of the documents within 15 days of the worker's request, says a draft decision of the Romanian Government regarding the general employee registry. read more...


Welfare recipients, who turn down a job and refuse to take part in professional training classes or other programs designed to stimulate employment, may lose their benefits, according to the draft law on social assistance in Romania. read more...




Romanian Prime Minister Emil Boc called on Interior Minister Traian Igas and Foreign Minister Teodor Baconschi to put forward a normative act granting humanitarian aid to quake- and tsunami-shattered Japan, people close to the matter told Mediafax Thursday. read more...


The Romanian Government on Thursday approved the norms concerning the application of the normative act on checking high wealth individuals, said Government spokeswoman Ioana Muntean. read more...


KPMG launched in Bucharest a new consultancy office that offers audit, fiscal assistance and business consultancy for Chinese companies, a press release of the company reads. The office will support both Chinese companies doing business in Romania and local companies interested to develop businesses on the Chinese market. read more...


Romania’s Prime Minister Emil Boc decided, at the proposal of the Foreign Affairs ministry to set up a rapid reaction unit at the National Committee for the control of nuclear activities, CNCAN, that will supply the government information about the evolution of the situation in Romania, PM’s spokesperson Ioana Muntean declared. read more...


The nine major foreign banks that control 70% of the domestic market, Erste Group, Societe Generale, Raiffeisen Group, UniCredit Group, Eurobank EFG, National Bank of Greece, Alpha Bank, Volksbank International and Piraeus, no longer have the obligation of maintaining a certain level of exposure on the domestic market, once the agreement reached in Vienna two years ago in parallel with the stand-by agreement signed by Romania with the IMF expires. read more...


Alexandru, 33, an accountant with a private company, has managed to amass a fortune of several hundred thousand euros in 14 years from investments on the Bourse. read more...


Refinancing clients with ongoing loans is this year's "pie" that all banks with growth ambitions on the retail segment want a piece of, with adverts suggesting that savings of as much as 70% can be made on the monthly instalment. read more...


Furniture and interior decoration retailer kika, which operates a store in western Bucharest continued to see a growth trend in the first two months of 2011, a trend which is estimated to be kept for the entire year. read more...


Electronics and home appliances retailer Domo Retail, the second-biggest player on the Romanian market in terms of the 2009 turnover, has closed four stores and relocated another this year because they were not profitable. read more...


BRD, the second-largest bank on the Romanian market by assets has around 4 million euros in guarantees left for loans granted through the "First Home" scheme and estimates the cap allocated for this year will run out by the end of March. read more...



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