Finance, Banking and Economic News - 3 March 2011 - financiare.ro
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Finance, Banking and Economic News
3 March 2011



Page: 1 

The assets of the 166 insolvent companies included in the portfolio of Casa de Insolvenţă Transilvania (Transylvania Insolvency Firm-CITR) do not cover even half of their debts, so that banks and suppliers are likely to lose almost 500m euros in the following years, either in the wake of these companies' reorganisation or liquidation. read more...


NBR is gearing up for inflation caused by internationally rising prices for food and fuel, pushing leu higher and driving interbank interest rates up to the level of the monetary policy rate. This is the explanation analysts and dealers have found for past week's unexpected developments on financial markets. read more...


Small and medium-sized enterprises, which last year were hit the hardest amid a collapse of their business, are now beginning to recover, with their financial situations sometimes looking better than those of big companies, says Laszlo Diosi, the head of OTP Bank, the local subsidiary of the biggest Hungarian financial group. read more...


The world's largest money manager, BlackRock, with assets under management worth 3,500bn dollars (2,500bn euros), invested 5m euros on the Romanian stock market through an investment fund dedicated to frontier markets, being attracted by Fondul Proprietatea (Property Fund - FP). read more...


The opening of the Basarab Overpass in Bucharest in a month's time, in April, is conditioned on the weather, say its builders - Italy's Astaldi and Spain's FCC Construction, after Sorin Oprescu, mayor of Bucharest, said a few days ago that the overpass would be open for traffic in a month's time at the latest. read more...


Colliers International, one of the biggest players on the real estate consultancy market, posted a 35% turnover increase in 2010, to around 3.9 million euros, returning to profit with a managing team whose average age does not exceed 30. read more...


Romania’s Government decided Wednesday to unfreeze hiring in local public institutions that face major staff shortages, Government spokeswoman Ioana Muntean said after the Cabinet meeting. read more...


03.03.2011, 11:08 | Economy | 667 views
Romania 2010 GDP Fall Revised Down To 1.3%
The Romanian economy shrank more than previously thought in 2010, largely due to declines in the constructions, retail and services sectors, revised figures showed Thursday. read more...


The Romanian Government gave the green light to the Health Ministry to build a network of six emergency hospitals in public-private partnership, people close to the matter told Mediafax Wednesday. read more...


Assets of private pension funds in Romania could top EUR1.6 billion this year, 60% more than in 2010, Mircea Oancea, head of the country’s private pension regulator CSSPP, said Thursday. read more...




Romanians spent 5% less on fast moving consumer goods last year compared to 2009, according to survey conducted by market research company GfKRomania. read more...


Romanian Labor Minister Ioan Botis said Thursday that Romania's job occupancy rate has been 58% for the past 10-15 years and, unless it climbs to 64-65%, the state will be unable to pay pensions. read more...


About half of Romanian contributors to mandatory private pension funds (Pillar II) have amassed less than 500 lei (EUR1=RON4.2016) in their pension accounts since May 2008 when the system was launched, Mircea Oancea, head of the country’s private pension regulator CSSPP, said Thursday. read more...


Romanian private pension funds should take more risks, Labor Minsiter Ioan Botis said Thursday at the Mediafax Talks about Private Pensions conference, adding different risk levels would ensure a more efficient asset management. read more...


Romania’s leu rose slightly against the euro in mid trade Thursday and the central bank’s reference strengthened to a fresh ten-month high at 4.2016 units, from 4.2051 units a day earlier. read more...


Russian group Lukoil eyes the development of renewable energy projects in Bulgaria and Romania, company representative Vasily Zoubakine has told RIA Novosti. read more...


Some 2,500 iPhone terminals have been sold in Cosmote and Germanos stores since mid-December, Cosmote Romania commercial manager Panos Makris announced on Thursday. read more...


The apparatus of the Romanian Finance Ministry is too complicated, has little efficiency and in some areas is affected by corruption suspicions, according to a report produced by one of Romania's foreign lenders. read more...


Social Democratic Party (PSD) deputy Robert Negoita has claimed that representatives of Romanian fiscal authority ANAF demanded him bribes amounting to 500,000 euro to prevent fiscal controls on his real estate businesses. He told Antena 3 news channel that persons contacted him to "suggest" that he pay the money to be left alone. read more...



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