Finance, Banking and Economic News - 18 February 2011 - financiare.ro
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Finance, Banking and Economic News
18 February 2011



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European Commission might present on Friday the interim justice reports on Romania and Bulgaria, part of the Cooperation and Verification Mechanism, European sources declared, news agency Agerpres reads. However, an official announcement was not made by Thursday night and usually the EC report is presented in a technical briefing session, on the record. read more...


According to sources quoted by Evenimentul Zilei, President Traian Basescu met on Thursday night with deputy Central Bank governor Cristian Popa to propose the PM seat. The information is aired, on sources, by news televisions also. read more...


Guido Kerkhoff, Deutsche Telekom manager who had been in charge with the CEE operations of Europe's biggest communications group since 2009, has unexpectedly announced his decision to leave the company three years before his term is due to end. read more...


Italian, Greek, Jewish, French, Dutch, Cypriot and Lebanese investors control half of the 20 companies with the highest number of cattle in Romania. read more...


Positive news about projects related to thermal power stations, hydro-power stations or nuclear reactors lacked completely in 2010, while wind energy became the new star of the industry. In 2010, 200 windmills were installed in the wake of investments of around 800m euros. read more...


Banks increased their foreign short-term debts, largely reflecting funding received from foreign shareholders, by almost 1bn euros last year, to 7bn euros. read more...


18.02.2011, 10:58 | Cars | 498 views
Good signs in January: Lorry sales double
The Romanian car market reached an overall volume of over 5,400 vehicles, up nearly 25% against the similar period of last year, the first rise recorded in three years. read more...


18.02.2011, 10:59 | Business | 807 views
Sensiblu buys Farmaplanet drugstores
Sensiblu, the drugstore chain part of the A&D Pharma group, has bought the 24-drugstore Farmaplanet chain, with the transaction already sent to the Competition Council for approval. read more...


18.02.2011, 11:00 | Economy | 472 views
How could economy leave recession behind?
Analysts believe there are few chances that the economy will perform better in the first quarter against the last three months of last year, with a modest growth being possible as a result of the robust export growth, the reversal of public sector salary cuts and the slight growth in the consumer spending in the first quarter. read more...


Banca Comerciala Romana (Romanian Commercial Bank - BCR) last year posted a 100-105 million-lei profit, according to Romanian accounting standards (RAS), less than half the 2009 profit, said shareholder sources. read more...




The ten biggest non-financial companies on the Stock Exchange last year reported turnover increases against 2009, with the leaders being companies in the industrial, energy and pharmaceutical sector. read more...


The European Commission's interim report on the Cooperation and Verification Mechanism says Romania's main challenge regarding judicial reform in the coming months "will be to prepare successfully for the entry into force of the four new codes." read more...


Romania should focus on measures improving the celerity of high-level corruption trials and strengthening general anti-corruption policy until the European Commission's next assessment, according to the EC’s interim report on Romania’s progress under the Cooperation and Verification Mechanism. read more...


The European Commission’s interim report on Romania’s justice system, released Friday, noted improvements in speeding up trails by amending the law on the country’s Constitutional Court. read more...


Romanian Cartel Alfa union leader Bogdan Hossu said Friday changes in labor legislation allow a new form of slavery, as employers may operate collective layoffs anytime and hire new people the next day. read more...


The report is factual, noting significant progresses made at most levels that the EC and the state seek together, both in the reform of the judiciary and the fight against corruption, Agriculture Commissioner Dacian Ciolos commented on the EC report on justice released on Friday. read more...


Romanian Transport Minister Anca Boagiu said Friday the Cernavoda-Constanta segment of the Bucharest-Constanta Highway will be completed next year but the section will be open for traffic this year. read more...


Romania’s largest fixed line telephony operator Romtelecom and mobile telecom company Cosmote Romania could merge before the state starts procedures to list a 46% stake in Romtelecom on the Bucharest Stock Exchange, IT&C Minister Valerian Vreme said Friday. read more...


Even though Romania was monitored by the EU and urged by several states to intensify its fight against corruption in order to join Schengen, the political class endangers its hopes, AFP reads on Friday. read more...


Higher Court of Justice rejected on Friday the appeals formulated both by Romanian businessman Dinu Patriciu and by the Romanian Intelligence Service, SRI, in the trial in which the businessman sued SRI for illegally tapping his phones. read more...



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