Finance, Banking and Economic News - 9 March 2011 - financiare.ro
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Finance, Banking and Economic News
9 March 2011



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The managers of the five financial investment companies (SIFs) last week met in Vienna with members of the management of "Erste" to discuss the dividend policy of BCR for the year 2010, according to sources who did not wish to be named. read more...


Revenues on the Romanian mandatory civil liability car insurance RCA segment exceeded voluntary car insurance CASCO underwritten premiums in 2010, for the first time in the past ten years. read more...


Romanian Interior Minister Traian Igas said Wednesday only about 9,000 people will be laid off from the ministry this year, denying plans to sack double that number. read more...


Romanian oil company Rompetrol increased fuel pump prices Wednesday by up to 0.09 lei (EUR1=RON4.1869) per liter, a day after OMV Petrom (SNP.RO) operated a similar increase. read more...


Romanian economy is ready to enter a new growth cycle, after more than two years of recession, but the authorities must take things “slowly” to avoid a possible relapse, central bank governor Mugur Isarescu said Wednesday. read more...


The TUI group is unhappy with the services and prices on the Romanian Black Sea coast, but Tourism Minister Elena Udrea promised the German travel operator's representatives that she will try to solve some of the problems. read more...


Romanian insurers will have to increase policy tariffs or reduce current spending if revenues on the car insurance segment continue to drop in 2011, insurer Allianz-Tiriac general manager Rangam Bir said Wednesday. read more...


Romanian telecom operator Romtelecom launched on Wednesday the beta version of a new TV content platform on the Internet, DolceTV.ro. read more...


Romania's Government has increased the budgets of the Ministry of Justice, Foreign Intelligence Service (SIE) and Special Telecommunications Service (STS) by more than 35 million lei (EUR1=RON4.1902), to cover the higher pension fund contribution rates. read more...


Romanian Competition Council asked the government to extend the deadline by which the authority had to present the conclusions of its investigation on the price increases on the local fuel market, people close to the matter told Mediafax. read more...




The Romanian Government on Wednesday decided to reduce the length of child adoption procedures. read more...


Former Romanian minister Vasile Blaga on Wednesday defended himself against suspicion of involvement in customs corruption by saying that he has never proposed to head a customs office. read more...


Atlassib and Eurolines, the two biggest road passenger carriers, with cumulated turnover worth 75m euros last year, are set to renew their fleets by acquiring 20 coaches overall, in the wake of investments of as much as 5m euros. read more...


Alexandru Dobrescu, general manager of Air France KLM airline, which operates daily Bucharest-Paris and Amsterdam flights, maintains that 35% of the company's revenues come from contracts signed with several hundred companies, with these being like a safety belt during the economic downturn. read more...


BCR, the biggest bank on the market, will strongly re-tap into the consumer lending and credit card markets only as it sees there is demand, since it is not interested in participating in the shaping up of an unhealthy market, states Oana Petrescu, retail executive vice-president. read more...


Premium cars, with prices that start from over 20,000 euros, went up twice as fast as the market, despite volumes being half what they were in the same period of 2008. read more...


09.03.2011, 22:00 | Capital Markets | 723 views
Equity funds start looking for profit
2011 starts in full speed for funds present on the Bucharest Stock Exchange. Their rise comes after two years - 2007 and 2008 - in which the Bucharest Stock Exchange became almost synonymous with loss, and investors only wanted a safe place to keep their money, in a bank deposit or a monetary fund. read more...


Banks have turned on the tap of funding for real estate projects again, with the development of two new malls - Electroputere Craiova and Colosseum Bucureşti - and the acquisition of the Praktiker store in Craiova being financed through bank loans worth a cumulated 70 million euros. read more...


The over 130 officials and heads of the biggest companies in the six richest Arab countries, Bahrain, Kuweit, Qatar, Oman, Saudi Arabia and the United Arab Emirates, present in Bucharest in the last few days, are willing to bring hundreds of millions of euros to Romania, estimates a journalist from the English language newspaper Bahrain Tribune. read more...


09.03.2011, 22:08 | Business | 761 views
White ranking: Top 20 milk processing plants
Greek-held Olympus, French-held Danone and Romanian-held Albalact are the owners of the top three milk processing facilities in Romania. They account for around 25% of the overall capacity of the 100 or so facilities operating on the Romanian market. read more...



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