Arhiva Wall-Street - luna Noiembrie 2008 - English-Version

Meltdown of 'black gold' – curse or blessing for the energy sector at BSE
3 Noiembrie 2008
Price of crude oil and global financial crisis International analysts, who forecasted a 200 dollars/barrel price for this year, are now estimating a 50 dollars/barrel price in 2008, in the context of global recession. Last year, when crude...

Deloitte managers on options of the business environment in crisis
3 Noiembrie 2008
At present, globalization is the first negative example in the history of Romanian business environment, Deloitte representatives believe, and the companies must implement the most effective operational management. Each business and industry is...

Orange’s CEO: We will witness consolidation of companies in telecommunication industry
3 Noiembrie 2008
Next year, telecommunication industry will slow down growth pace Next year, the telecommunication market will register a slower growth led by economic crisis which will affect the entire IT&C sector. “The latest projections for...

Financial crisis’ fatalities in the economic environment
3 Noiembrie 2008
Indirect link between stock market and consumers The consumer - the dictator of the economic growth in the past years – is still living moments of glory in Romania. “Seen from distance, in a weekend day, in any hypermarket in...

BNR cuts for the first time since 2005, the required reserve ratio at leucurrency liabilities
3 Noiembrie 2008
The yesterday’s decision, to cut the required reserve ratio for liabilities in leu currency held by the banks from 20% to 18%, is effective from November 24 – December 23 2008. BNR has not enforced a similar decision since July 8,...

How do loan brokers see the impact of financial crisis on Romanian market?
4 Noiembrie 2008
“In Romania we are far from market saturation, and this type of service is starting to become popular. The development pace of banking brokerage industry will be fast, and conditioned by the evolution of the banking system. Although at this...

ING Bank: We observe the competition rules
4 Noiembrie 2008
“ING Bank observes the current legislation, observes the principles of loyal competition and clients above all. The volatility of inter-bank market did not reflect in the level of interests at credits for our clients, natural persons or...

CEO Petrom: Romania must stimulate the development of alternative energy
4 Noiembrie 2008
“The global demand of electric energy is likely to increase by 50%. The primary power resources (coal, crude oil and gas) are limited and Romania’s dependence to imports may enhance (to one/two international providers)” said Mariana...

Wall Street bets on Obama victory in the forthcoming American presidential elections
4 Noiembrie 2008
"Given Obama\'s advance in the poll, it\'s pretty clear who\'s going to be president," said Owen Fitzpatrick of Deutsche Bank, quoted by AFP. Moreover, Mace Blicksilver, director of Marblehead Asset Management said that “for most...

eBay's target for Romania: 1,200 professional car dealer registrations in 2009
4 Noiembrie 2008
Mobile.de is Germany’s marketplace for used and new vehicles, the parent company being mobile.international GmbH, founded in 1995 with headquarters in Berlin. The American internet company eBay acquired in 2004 mobile.de portal for 152...

Isabelle Pleska, Bricostore Romania: Financial crisis shock to affect DIY market in Q1 2009
4 Noiembrie 2008
She said that the most difficult period for this field would be the first quarter of 2009. “People who contracted mortgage loans before the financial crisis had started, are bound to continue their home improvement, and this is why the...

How to build branding strategies in times of crisis
5 Noiembrie 2008
Where to cut costs from in times of crisis In a time when cutting costs is on the objectives list of every company manager, the marketing budget is the first one affected, the companies focusing on production, distribution and sales, said Bogdan...

Insiders take advantage of stock market’s downward trend
5 Noiembrie 2008
If we take a glance back in history, October was most of the times one of the worst months for the equity market, said Gabriel Necula, deputy operation director at Prime Transaction, however the situation is not constant each year. Insiders...

Isarescu: No need to worry about loans in lei
5 Noiembrie 2008
“No need to worry about loans in lei. Banks have to do something with the money, the networks they hold must function”, said Isarescu, adding that the banks focused on lending in foreign currency would be forced to push the brakes of...

K-Tech is not reassessing outlooks for 2008, amid IT acquisitions postponement trend
5 Noiembrie 2008
The company maintains outlooks on 15%-20% annual business growth; however certain changes may appear due to the evolution of the market in the final quarter of the year. “The objectives are still standing, whereas they will be conditioned by...

GSM retailers don’t fear financial crisis
5 Noiembrie 2008
GSM grows at 5-10% pace monthly The sale of GSM products and services marked a 5-10% monthly advance and the growth will keep its upside trend next year. “On short-term, it is unlikely that the sales in GSM retail industry in Romania...

Skoda cuts production on weak demand
5 Noiembrie 2008
After a first cut of production by 13,000 units announced early October, the Czech group decided to reduce production by another 18,000 cars, said Skoda’s spokesman, Jaroslav Cerny. Skoda Auto plans on making 759,000 cars this year, from...

Raiffeisen calls for financial aid from the government
6 Noiembrie 2008
RZB which own biggest lender in Central and Eastern Europe, Raiffeisen International will use the funds to raise its core capital ratio to 9%, Die Presse informs. RZB will probably request less than Erste which was the recipient of a 2.7 billion...

Will the dividend policy of equity market issuers become the next crisis casualty?
6 Noiembrie 2008
“In general, the yield of dividend distribution is not very high, as this depends on the price of shares listed at the stock market. For example, if an investor bought stocks from a certain company at 1 leu/share, if he holds the respective...

Luiza Moraru, CBRE|Eurisko: Effects of financial crisis are already visible in the local retail industry
6 Noiembrie 2008
The most affected developers by the “economic tsunami” will be those that face liquidity shortages, while players “standing on cash will be the survivors”, Luiza Moraru (photo) stated for Wall-Street. “Local industry...

Israeli CIG freezes euro rate at 3.5
6 Noiembrie 2008
“The oscillation of the exchange rate and the raise and fall of the single European currency increase clients’ fear when it comes to buying a home” CIG representatives explained. Clients who will sign a purchase contract in...

Businessmen and politicians’ view on Romania’s business agenda
6 Noiembrie 2008
At the end of one year of crisis in the global economy and one month before the MP elections, leaders of main political parties and figureheads in the business landscape don’t have a common vision on Romania’s business agenda. If...

Romania’s ever-growing construction industry
7 Noiembrie 2008
The statistics of INS shows that the volume of construction activities rose 32.9% in January 1 – September 30 2008, compared to last year in terms of non-residential buildings, 31.4% growth for residential buildings and 30.1% growth for heavy and...

How will financial markets response to Obama’s victory?
7 Noiembrie 2008
Simionescu: Obama’s election spells hope Adrian Simionescu, chairman of Vienna Investment Trust (photo) polled by Wall-Street, said the elections influenced the global financial markets even since the first exit polls that suggested that...

Liliana Solomon, Vodafone: No industry is immune to a global financial crisis
7 Noiembrie 2008
“The crisis has just started to take shape in Romania, after it had already affected countries in Western Europe. I think no industry is perfectly immune to a global crisis, and therefore, the impact will spread on the entire economy, including...

Car parts suppliers of Mercedes plant in Kesckemet, likely to come in Romania
7 Noiembrie 2008
“We could at least have the car parts suppliers, if we lost Mercedes. It is very likely for the suppliers to open unit here, because at logistic level, we are very close to Kesckemet,” Vasilescu added. Managing director of ARIS said...

Blake Horsley, Colliers: Investment funds could withdraw from actively purchasing, perhaps into 2010
7 Noiembrie 2008
“Due to the international financial crisis we have seen a change in strategy from a number of investment funds, particularly the German funds who have temporarily withdrawn from the market, with several choosing to target what they consider to be...

UPC Romania reports loss of TV service subscribers, but massive gains on internet and telephony segments
7 Noiembrie 2008
On analog cable TV tier, the operator reported a 15% decline, from 1.26 million users, in September last year, down to 1.07 million in September 2008. The digital TV segment registered a nearly 275% growth, from 19.600 subscribers in first nine...

Michael Lloyd relinquishes Baneasa Project and sets up his own fund management vehicle
7 Noiembrie 2008
“Having completed the Baneasa Shopping City, the first phase of Baneasa Business & Technology Park as well as the first few hundred apartments of Baneasa Rezidential, I felt that it was time for some new challenges”, said Michael Lloyd...

Priciest areas to rent in Bucharest
7 Noiembrie 2008
“The area is near Herastrau, Bordei and Kiseleff parks, and also being the city’s downtown, which is very important to expats. The average monthly rent for houses reach 4,000 – 10,000 euros, and for apartments, hovers around 2,000...

Foreign executive chefs, secret of success for hotels in Romania
7 Noiembrie 2008
Andreas Hoehne, chef at InterContinental Bucharest Andreas Hoehne, executive chef of Intercontinental Hotel discovered his passion for culinary art at the early age of 13. Then, he went to a famous restaurant in Wimbern, his native city in...

Romanian leu to European currency exchange rate forecast
10 Noiembrie 2008
Pressure of financial crisis over the national currency The dramatic meltdown of the national currency down to nearly 4 lei/euro, spread concerns among managers of Romanian companies, especially those with import activities, but also among...

Romania’s biggest company bolsters nine-month profit, amid financial crisis
10 Noiembrie 2008
EBITDA rose 80% in January-September 2008 interval In first three quarters of 2007, Petrom posted 1.548 billion lei net revenue. For Arpechim, Petrom set a 559 million lei provision, equivalent of the full book value of the refinery’s...

URBB reassesses short-term investments in the context of financial crisis
10 Noiembrie 2008
URBB representative said at international level, the signals of financial crisis had been sent few months backwards in time, before the Wall Street’s “economic outburst” unleashed. “I think that it is more appropriate not...

Turning point in car industry: Leoni Mioveni slims workforce by 22
10 Noiembrie 2008
Employees, most of them women, were served on Tuesday the termination notice for the employment contract, following that after the 20 days notice, they will receive nine compensatory pay packages on their cards. This means that every downsized worker...

A Romanian engaged in Wall Street’s investment banking despite financial crisis
10 Noiembrie 2008
After nine years settled in United States, the Romanian is investment banker at Freeman & Co and he did not let the fear overtake him. “It is an all-time opportunity if you have the chance to be in the middle of events that change the world...

Azomures and Amonil, best performers at BSE?
11 Noiembrie 2008
The recent hikes are based on investors’ optimism In the latter sessions, the two companies followed same trend as the market, albeit the volumes and magnitude of declines, or hikes ranked them as trading’s favorites. Thus, as...

SkyEurope's strategy with MyAir for Romania
11 Noiembrie 2008
“The partnership recently closed between SkyEurope and MyAir is active in a very important market for Romania. We intend on developing on the Romanian market and to implement new routes. Moreover, we consider setting up a local company by...

Large online publishers will officially monitor traffic through SATI
11 Noiembrie 2008
SATI, a benchmark of monitoring the traffic performances Ringier Romania supports the initiative, following to make a decision regarding the effective implementation of it in the coming period, reads the press release issued by BRAT. Thus,...

Audiences of online business publications, spurred by financial crisis
11 Noiembrie 2008
Business publication Wall-Street, edited by InternetCorp publisher, has averaged in October 2008, the highest number of unique visitors - 637,796, up 39.6%, from September (456,869 unique visitors), according to data provided by SATI. Furthermore,...

Controversy over Astra takeover
11 Noiembrie 2008
According to business-to-business contract conditions, the two companies, Nova Trade and Uniqa Group are obliged to act together as partners with legal rights in the event of any acquisition in Romania of a company actively involved in the same field...

Romanian equity market’s response to Fitch’s two-notch downgrade
12 Noiembrie 2008
Brokers: Romanian equity market will not be affected on short-term Fitch rating downgraded Romania’s ratings for long-term foreign currency IDR from ‘BBB’ to ‘BB+’ and for long-term local currency IDR from...

Fitch downgrades rating of five Romanian banks
12 Noiembrie 2008
On Monday morning, Fitch rating agency removed Romania from the investment grade category, by downgrading it by two notches of long term foreign currency IDR from ‘BBB’ to ‘BB+’. Romania’s country ceiling was...

Bankers meet with Prime Minister for financial crisis talks
12 Noiembrie 2008
“I believe this is a major responsibility for players in the financial market scene to hamper the future possible problems in Romania fuelled by financial crisis. I don’t think the impact will be significant, but there are risks if the...

Recent rating actions taken on Romania
12 Noiembrie 2008
Romania, removed from investment grade category Fitch rating agency announced yesterday the removal from investment grade category by cutting two notches the long term foreign currency issuer default rating from ‘BBB’ to...

Dacia shuts down manufacturing facility for three weeks
12 Noiembrie 2008
“Following the downturn of the situation in the car industry, both for export and in its main market, Romania, situation that is very likely to prolong, and in order to avert the stockpiling cars, Dacia is forced to stop production in November 20...

Profile of the speculator or how to make money from technical rebound
13 Noiembrie 2008
What defines a speculator? A speculator is an investor who is always in the hunt for high returns, much above the market’s average, being aware this means taking higher risks. He is always on the seek for new profit-making opportunities,...

Vodafone and Orange report similar growth margins in revenues
13 Noiembrie 2008
Orange Romania reported for March – September revenues worth 670 million euros, up 7.9% from a year ago. Vodafone Romania announced yesterday 615 million euros revenues for first quarter of financial year (April 1 – September 30), up...

Theodor Alexandrescu, AIG Life Romania: We are immune to US crisis
13 Noiembrie 2008
The company is pursuing business expansion in the country. “AIG Life Romania is a different company, we are subsidiary (and not a branch that depends financially upon the parent companies), we have a separate accounting policy which is not...

56% Romanian consumers will cut back spending for new clothes due to economic crisis
13 Noiembrie 2008
According to Nielsen survey, clothing retail will be one of the most affected sectors by the financial crisis, as 49% global consumers and 59% Romanian consumers will spend less on new clothes. Furthermore, the personal technology sector is likely...

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