Finance, Banking and Economic News
Romania’s largest oil company OMV Petrom (SNP.RO), owned by Austria's OMV, Friday raised its diesel oil pump prices by 0.06 lei (EUR1=RON4.2609) per liter, keeping its gasoline prices unchanged. read more...
The Turkish recipe of no-interest instalments for purchases paid by credit card has become the "key" to rebooting lending in banks' eyes, so that five top banks introduced this facility last year. read more...
Russia's Lukoil, and Petrom, the biggest company on the Romanian market, are in the process of completing investments of over 600 million euros in 2011 in energy production facilities. These are among the few conventional energy projects carried out in the last 20 years, being the first challenges to the state's monopoly in the sector. read more...
Retail sales, the main indicator that measures the consumer spending trend, fell by 7.2% in December last year against the same period of 2009, with the biggest decline being recorded by non-food products, show data of the National Statistics Institute (INS). read more...
The Government decided via an emergency ordinance to eliminate the possibility of owners, builders and developers who infringed on urban plans to get the so called "urban plans to ensure compliance after the fact" for buildings that do not comply with the plans. read more...
Swedish retailer Hennes&Mauritz, with 14 billion euros in turnover, will begin operations on the Romanian fashion market on March 25. The 1.9 billion-euro market per year saw leading H&M rivals Zara and C&A report profit from the first full year in business. read more...
Greg Konieczny, manager of Fondul Proprietatea (FP) and one of the most influential professionals on the domestic capital market, is speaking for the first time about how the Fund will repurchase stock from the market. The stake of this operation is huge, so that the managers, just like the major Central Banks, are betting on the surprise element to support FP share price. read more...
Passengers of Wizz Air and Blue Air low-cost airlines who want to ask for information or book plane tickets through the call centre must pay 2.68 RON (0.62 euros) per minute for a phone call from the country, three times more than when calling in another mobile telephony network, according to the data published on low-cost airlines' websites and with ZF calculations. read more...
Portuguese Millennium Bank delayed to 2013 the return to profit of its Romanian subsidiary, opened in the autumn of 2007, given that it posted a 24m-euro loss last year. read more...
A suspicious piece of luggage found near Israel’s embassy in Bucharest had authorities on alert Friday morning but it turned out to be just a scare. read more...
Romania’s net average salary in December was at 1,496 lei (EUR1=RON4.2609), up 8.6% compared with the previous month, due to granting of bonuses, for vacations or the winter holidays, production increases, and to returning from furlough, the country's statistics institute said Friday. read more...
Romanians insured through the public healthcare system will have to pay out of pocket for medical services they request themselves, as doctors will not be allowed to write notes or prescriptions for free/discounted medicine in such instances. read more...
Romanian Prime Minister Emil Boc said Thursday that construction work on the Transylvania Highway will continue this year on two sectors, namely Gilau-Nadaselu and Suplacu de Barcau. read more...
World Bank prepares two new supplementary financial assistance programs for Romania, that target the Health sector and the social aid sector, World Bank Senior Economist Catalin Pauna said. The official explained that the total value of the programs amounts to 750 million euro. read more...
The Romanian Government “firmly” rejects the liberalization of gas prices at this time, since this is a measure to be implemented gradually, Thursday said Karoly Borbely, secretary of state within the Economy Ministry. read more...
Romania's Ministry of Public Finance plans to reduce the paperwork required from small enterprises and allow them more time to file tax statements, state secretary Dan Lazar said Thursday in a seminar hosted by daily paper Ziarul Financiar. read more...
The World Bank will grant Romania a EUR750 million loan for two projects aimed to reform the healthcare and social assistance sectors. read more...
Romania’s central bank Thursday left its main interest rate at a record low of 6.25% a year for the sixth consecutive time as it continues to battle a high inflation. read more...
Romanian President Traian Basescu on Friday will participate in the meeting of the European Council in Brussels, the Presidency said in a press release Thursday. read more...
The conclusion of the World Bank’s review mission on Romanian economic and fiscal progress under a EUR20 billion international bailout will not prompt a revision of the country’s growth forecast for 2011, an official of the World Bank said Thursday. read more...
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