Finance, Banking and Economic News
Switzerland, Germany and France are the most attractive countries worldwide in terms of tourism development, according to an annual report of the World Economic Forum, published on Monday and quoted by AFP. Romania comes 63rd in the list of 139 countries. read more...
Romanian consumer prices are likely to increase by 0.5% on the month in February, while the annual inflation is seen climbing to 7.3%, according to a median forecast of the country’s association of financial and banking analysts AAFBR. read more...
Libyan leader Muammar Gaddafi is using mercenaries from Serbia, Ukraine and Romania to attack rebels in his country, claims Arab newspaper Ashark al-Awsat, quoted by Jerusalem Post. read more...
Tax evasion has become a vulnerability of the national security as over 30% of the resources bound for the state are subject of tax evasion or suspicions of tax evasion, Romanian President Traian Basescu said at an event on Monday. read more...
Israeli company Tnuva will halt its cowshed activity in Romania, with representatives of the milk producer saying the decision was made on financial considerations, according to ynetnews.com. Tnuva has some 1,2 milk cows in Romania, covering 25% of the local production of the company. read more...
Businessman Ion Ţiriac, probably the wealthiest Romanian, is quite reserved with regard to the firm statement that the Romanian economy will exit the crisis at the end of the first quarter. He believes 2011 will be just like 2010 and we'll leave the crisis behind in 2012. read more...
Romanian construction company Delta ACM 93, controlled by businessman Florea Diaconu, will build a motorway in Iraq, whose cost per kilometre is around 2.3 million euros, three or four times less than in the case of motorways in western Romania put up for tender by the National Company of Motorways and National Roads at the end of 2010. read more...
Fluctuations of up to 3-4% of the exchange rate should not be "paid attention to" and should not be immediately apparent in prices, says Mugur Isărescu, governor of the NBR (National Bank of Romania). read more...
RCS&RDS operator is considering the possibility of rival Romtelecom interfering in the fight for UPC Romania, which would complicate the battle for the acquisition of the second-largest operator on the television services market, with 1.2 million clients. read more...
SIF Transilvania (SIF3) board of directors proposes the company's shareholders the awarding of a gross dividend of 0.03 lei/share from net income generated in 2010, with the dividend being flat from 2009 and 2008. read more...
Iulian Trandafir, who a month ago reverted to the position of CEO with Farmexpert, ranking second on the domestic pharmaceutical distribution market, says he plans moderate growth this year since a too big advance would also mean a higher exposure to risk, namely to pharmacies risking insolvency. read more...
Volksbank International, which owns the eighth largest bank in Romania in terms of assets, last year registered net losses of 36m euros from Romanian operations, stated Friedhelm Boschert, the bank's CEO, in an interview with a publication, also published by Reuters. read more...
Around 80% of energy generating facilities in Romania are outdated, with investments in the sector being needed more than ever before. read more...
Iaşi-based Cotnari wine producer, with 25m-euro turnover last year, has budgeted 50% higher volumes of wine sold abroad for this year, as the company has almost completed talks over a contract in Russia. read more...
Romanian Prime Minister Emil Boc said Saturday he will request that, within four-six months, the heads of all decentralized public bodies undergo a professional examination, given by a team of evaluators. read more...
Romania's Government wants to award six digital terrestrial television licenses, including one required to ensure 60% population coverage and 50% land coverage by March 31, 2012, says an act drafted by the Communications Ministry. read more...
The Romanian Government will reduce the number of jobs in the Ministry of Public Finance by 14%, or 5,175, more than 95% of which will be eliminated from revenue service ANAF, according to a draft decision. read more...
Romania's Government will dissolve the Financial Guard and the Customs Authority, passing their duties on to revenue service ANAF, which will now collect and manage state budget income, conduct fiscal inspections, customs operations and financial guard operations. read more...
Fluctuations of 3% to 4% in the leu’s exchange rate are neglectable and should have minimum impact on prices, central bank governor Mugur Isarescu said Friday. read more...
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