Finance, Banking and Economic News - 21 December 2010 - financiare.ro
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Finance, Banking and Economic News
21 December 2010



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Labormed drug producer, owned by Advent International investment fund, has budgeted a 25% turnover increase for 2011 from the 70-75m-euro level reached this year. read more...


The largest state-owned energy companies, which generate turnovers of hundreds of million euros and have huge investment plans, keep their accounts or borrow from foreign banks, while CEC (Romanian Savings Bank) is an almost inexistent option as regards lending to or managing the money of some giants such as Hidroelectrica, Electrica or Transelectrica. read more...


21.12.2010, 00:05 | Business | 500 views
Boom TV creditors discuss sale strategy
The creditors of satellite TV services provider DTH Television Grup (Boom TV), which became insolvent in mid this year, failed to reach an agreement on the strategy to sell the company's assets, representatives of Casa de Insolvenţă Transilvania (CITR) insolvency firm, the company in charge of the operator's reorganisation, told ZF. read more...


Arval, the operational leasing company controlled by French group BNP Paribas, estimates an increase in business on the Romanian market by up to 25%, according to statements of company officials, to around 25 million euros. read more...


Austria's Immofinanz investment fund, the most powerful investor on the domestic real estate market after taking over Immoeast fund, in the first half of the financial year (May-October 2010) 22.8m-euro revenues from the renting of 15 real estate properties domestically, down 13% from the same period of last year, though the Austrians hold a portfolio valued at 885m euros in Romania. read more...


The latest statistics on the number of employees comes from Labour Inspection Authority, which counted 4.6 million active employment contracts in the first nine months of the year based on data reported only by private employers. As of the same date, the National Statistics Institute (INS) counted only 3.23 million private sector employees. read more...


The turnover of insolvent bookstore chain Diverta fell by 26.6% in the first eleven months of this year against the similar period of last year, to 18.8 million euros. read more...


Holders of ongoing loans who want to benefit from the provisions of Ordinance 50/2010, which establishes transparent terms for the consumers' loans, need to hurry and sign the additional papers supplied by the bank before Parliament gives its final vote on the modified form of the ordinance. read more...


Wages of temporary employees in Romania have increased by an average 5% this year, with the biggest raises in sectors like IT, administration and banking, according to a survey conducted by staff recruitment firm Trenkwalder. read more...


Most Romanians buying Christmas presents will get sweets, clothing and accessories and prefer to get them on sale, according to a survey released Tuesday by market research company GfK Romania. read more...




France and Germany oppose officially Bulgaria and Romania's joining Schengen. In a common letter, written by German and French Interior ministers addressed to the European Interior Affairs Commissioner, Cecilia Malmstrom, they say that if Romania and Bulgaria would join Schengen in March 2011, this would be premature, RFI informs. read more...


The new agreement with the IMF amounts to 5-6 billion euro but the value might increase up to 8 billion euro depending on the financing need which will be established in March 2011, governmental sources declared for the financial daily Ziarul Financiar. read more...


Romanian President Traian Basescu Tuesday sent a letter to Senate Chairman Mircea Geoana and political parties calling on them to make a decision regarding the High Council of Magistrates during the current Parliament session. read more...


France and Germany's Interior Ministers have sent the European Commission a letter requesting the postponement of Romania and Bulgaria's accession to the Schengen Area, people close to the matter told Mediafax. read more...


The Christmas budget of almost half of Romanians is below 400 lei (EUR1=RON4.2901), according to a survey conducted by the Romanian Institute for Evaluation and Strategy (IRES). read more...


Romania's Government will hold a meeting Tuesday evening to approve the additional letter of intent to the International Monetary Fund, agreed upon following the evaluation mission in October-November. read more...


A letter sent by the Interior ministers of France and Germany to European Commissioner Cecilia Malmstrom, claiming the accession of Romania and Bulgaria to Schengen in March 2011 would be premature, prompted a strong reaction from Romanian authorities. Romania President Traian Basescu said in a press statement on Tuesday that the letter was an act of discrimination against Romania. read more...


Romanian President Traian Basescu said Tuesday that the letter addressed by the interior ministers of France and Germany to the European Commission, requesting the postponement of Romania's accession to the Schengen Area, discriminates against Romanians. read more...


Romanian worker remittances reached $38.819 billion in 2005-2010, with 2007 and 2008 being the most productive years for the nationals working abroad, according to a survey from the World Bank. read more...


Romania's Government has pledged to continue layoffs in the public sector in 2011, implement tax cuts only if the economy recovers and lower social security expenses. read more...



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