Finance, Banking and Economic News - 3 December 2010 - financiare.ro
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Finance, Banking and Economic News
3 December 2010



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Bankers in October made RON and euro loans to the consumers more than half a percentage point cheaper, with interest rates going down to 12.2% and 5.9% per annum, respectively, after they had during previous months pushed up loan costs in a bid to cover charges related to the implementation of Ordinance 50, which set more transparent conditions for loans. read more...


Last year, nearly 10% of the Gross Domestic Product and over 10% of exports were accounted for by cars and by car parts, and with Ford announcing a production similar to that of the Dacia plant, the percentage could rise to over 15% after 2013. read more...


The only investors showing interest in Romania currently are hedge funds and companies of small economies, as the sovereign rating assigned by two of the three largest international agencies is in the "speculative grade" category, says Magdalena Manea, corporate vice-president with RBS Romania. read more...


Schemes of purchases in instalments carrying zero interest have been driving sales of credit cards this year, despite the prolonged recession and clients' rising reluctance to lending products. read more...


Adrian Tănase, who manages equity fund ING Romanian Equity - one of the biggest investors on the Bucharest Stock Exchange, is optimistic about the performance of the stock exchange in 2011 and expects more significant investments in Romanian equity when market liquidity will allow it. read more...


The state has spent over 166 million euros on the "Rabla" vehicle scrappage scheme this year, over five times more than in 2009 and ten times more than in 2007, the last year of car sales rise before the economic crisis. read more...


The major decline of agriculture, which took most analysts by surprise, and the continued decline of constructions and of trade dragged the economy down in the third quarter, deepening the decline to 2.5% compared with the similar period of last year. read more...


Romanian net investments fell 14.2% to 14.13 billion lei (EUR1=RON4.2923) in the third quarter compared with the year-earlier period, largely due to a slowdown in construction, the country’s statistics institute INS said Friday. read more...


The position of government inspector will be eliminated from the category of high public servants and people filling such positions will be transferred to a reserve body from where they could occupy executive positions, according to propositions to change the statute of Romanian public servants. read more...


IMF discussed with Bucharest authorities a series of principles for a better spending of public money but the way spending is restructured, depends on authorities, IMF Romania's representative Mihai Tanasescu declared. read more...




Bucharest dropped to the 73rd position, from 29th in a most efficient capital cities top, based on economic performances, a Brookings Institution and London School of Economics top reads, quoted by Romanian news agency Mediafax. read more...


NASA announced on Thursday in a press conference that it discovered in a lake in California a bacteria that does not share the same DNA with the rest of species on Earth. read more...


Romanian public servants may be fired or transferred to other positions while on parental leave according to a bill amending the statute of public servants, up for public debate. read more...


Selgros, the third largest player in domestic retail after Metro Cash&Carry is to exit Germany's Rewe group and will be held, starting January 10, 2011, by Coop, which operates the second biggest supermarket chain on Switzerland's market. read more...


Meteorologists on Friday issued a code yellow snow storm advisory for 14 counties in eastern and southeastern Romania, valid Saturday afternoon through Sunday morning. read more...


Placing outdoor advertising supports could be banned in Romanian parks, on trees, in natural reserves, on the headquarters of public institutions, on roadways and in other spots deemed improper by the local administration. read more...


Meteorologists remitted on Friday a yellow code warning alert for heavy snow starting with December 4 2 PM to December 5, 8 AM. read more...


Romanian businessman and media mogul Sorin Ovidiu Vantu is still not allowed to leave the country, after the Bucharest Appellate Court maintained the decision of the lower court, Romanian news agency Mediafax informs. read more...


The same sum was available in 2010 but not even half of the sum was requested so far, President of the National Warantee Fund, Aurel Saramet declared for EurActiv.ro/Hotnews.ro. read more...


Registrations of Romanian Dacia cars in Spain increased by 48% in November, to 2,138 units, from 1,444 cars in November last year, while the overall Spanish car market dropped 25.5% to 64,810 units, according to carmaker association ANFAC. read more...



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