Finance, Banking and Economic News - 6 January 2011 - financiare.ro
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Finance, Banking and Economic News
6 January 2011



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Whereas 2009 was the year of discounters, in 2010 it was supermarkets' turn to become the most dynamic segment of modern retail. read more...


The nearly 4 million customers with ongoing loans for whom banks considered the addenda created based on emergency ordinance OUG 50/2010 as tacitly accepted have to decide over the next 53 days if they accept the situation or cancel the documents, and return to the original version of the contracts. read more...


The NBR (National Bank of Romania ) decided yesterday in its first monetary policy meeting to leave unchanged both the key interest rate, which has remained set at 6.25% since May 2010, and the minimum reserve requirements, preferring not to send out signals for a lending revival and for a reboot of the recession-mired economy. read more...


The year 2011 will not bring tensions on the local financial markets, the RON will start on a trend of slight appreciation, interest rates on the monetary market will remain low amid excess liquidity, and the state will continue to finance itself problem-free, while on the Stock Exchange the "historic event" will be flotation of Fondul Proprietatea (Property Fund), anticipates Claudiu Cercel, vice-president of financial markets of BRD-SocGen, the second-largest bank on the Romanian market. read more...


Two new stores will join the tenant mix on the ground floor of central Bucharest's Unirea shopping centre, with Spanish clothing retailer Inditex bringing another two stores of the group into the central area of the complex - Stradivarius and Pull and Bear - after opening Zara and Bershka in the past two years. read more...


The wages of the Romanian Government's representatives in the boards of state-owned companies will continue to be capped, at least until new income and expenses budgets are approved, according to a memorandum approved by the Government on Wednesday. read more...


Mihai David, former general manager of Hidroelectrica, currently a member of the board of directors of the most valuable state-owned company, believes a new bubble is forming, after the financial crisis that broke out more than two years ago, with the peak of the new bubble to be reached during the next five to six years. Whereas the 2007 crisis was triggered by risky loans, exotic financial products and a highly overvalued real estate market, now the trigger could be the energy sector. More specifically green energy. read more...


Dacia's output went up by almost 15% to 340,000 vehicles last year, the all time high reached by the Mioveni-based plant, 10,000 cars more than the latest estimates. read more...


Romanian adjusted retail sales fell 1.3% in November compared with the previous month, on lower fuel and non-food product sales, the statistics institute INS said Thursday. read more...


Romania and Bulgaria’s adhesion to Schengen was postponed, Hungarian Interior minister Sandor Pinter declared, quoted by the German news agency DPA. read more...




There is no reason to postpone Romania’s adhesion to Schengen, Romanian Foreign Affairs Minister Teodor Baconschi declared. He said that currently, the Hungarian Presidency of the EU supports the expansion of Schengen. read more...


Romania’s Foreign Minister Teodor Baconschi said Thursday he sees no reasons why he should resign considering the ministry has done its homework for Schengen accession. read more...


ING Bank Romania revised its view on the leu and sees the local currency stronger in 2011 than its previous forecasts, following the positive impact of the agreement with the International Monetary Fund. read more...


Online payments using bank cards increased by 38% in 2010, to EUR127.8 million and the number of transactions rose by 82%, to 2.26 million, according to data released by Romanian credit card transaction processor Romcard. read more...


Romania’s economic sentiment index edged slightly higher to 81.6 points in December, from 81.1 points in the previous month, mainly helped by advances in services and construction, a widely watched European Commission monthly survey showed Thursday. read more...


Romanian President Traian Basescu, Prime Minister Emil Boc, central bank governor Mugur Isarescu, Finance Minister Gheorghe Ialomitianu on Thursday set the parameters of a new, precautionary agreement with the International Monetary Fund and the European Union, the central bank said in a statement. read more...


Romanian retail sales fell 8.9% on the year in November, the largest decrease in the European Union, official data showed Thursday. read more...


The International Monetary Fund will make available for Romania EUR3.6 billion in a new, precautionary deal that will be signed after the current stand-by agreement expires in April, people close to the talks told Mediafax. read more...


The Bucharest Stock Exchange Council decided in a meeting on Thursday to allow Proprietatea Fund shares to be listed on the market with the FP symbol, a press release of the market operator reads. read more...


Romanian doctors will continue to leave abroad in 2011 as well because the phenomenon cannot be stopped but measures need to be take to at least decrease it, Health minister Cseke Attila declared. read more...



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