Arhiva Wall-Street - luna Aprilie 2009 - English-Version

Poll taxes seen paving way to IT crisis
15 Aprilie 2009
 “In the industry we are representing, the profit margins are extremely narrow due to the tight competition and the profits usually stand below 2%. Therefore, if the 0.5% share of turnover will be enforced, the income tax will not remain...

Top-rated stocks by dividend yield
2 Aprilie 2009
 Highest dividend yields at Alro Slatina and Alumil Brokers polled by Wall-Street say that a profitable investment venue would be a mix between first-tier issuers, such as BRD and FICs and second tier issuers such as Alumil and Santierul Naval...

Orange Romania CEO steps down for personal reasons
1 Aprilie 2009
 Thierry Millet, the current commercial director of Orange will succeed Richard Moat. Richard Moat’s resignation comes after 17 years spent in Orange team, holding various management positions and played a major role in the development of...

Small businesses in crisis: 10 solutions to keep SMEs running
1 Aprilie 2009
  The president of National Union of Romanian Employers, Petre Milut said if current economic condition worsened, 25% of small and medium sized companies would risk going out of business this year. As NURE’s official said, in order to...

Vienna Stock Exchange launches four Russian sector indices
1 Aprilie 2009
 RTX Mining & Metals Index (RTX MET), RTX Energy Index (RTX NRG), RTX Oil & Gas Index (RTX OIL) and RTX Telecom Index (RTX TEL) are capitalization-weighted price indices and include the most actively traded stocks with the highest market...

Companies can save up to 90% of their training costs if they opt for in-house courses
1 Aprilie 2009
 An increasing number of companies choose to train their employees in their own working environment, as human resources managers are forced to deal with narrower budgets as well as to ensure the business has the right skills to be successful.

BNR keeps key rate at 10%, cuts reserve requirements for foreign currency liabilities
1 Aprilie 2009
 Analysts NewsIn interviewed expected the hold of the main rate to 10 percent and mentioned BNR could operate changes to the way the minimum reserves are calculated. However, bankers deem that there is still a long way to go to unclog lending and...

Intel Romania recruits staff amid crisis
1 Aprilie 2009
 “The headcount of Romanian subsidiary currently stands at 14. We are committed to increasing workforce, given the evolution of our business. We have no intention to layoff workers. It would be a great mistake to abort business now. It would...

Policolor shares removed from trading arena as of April 6
1 Aprilie 2009
 CNVM suspended the stock from trading at the end of last year as the company wanted to leave the market after it was purchased by three funds from Cyprus. Policolor is 49.29 percent controlled by the Romanian Investment Fund Ltd., 40 percent by...

Erste Group recommends ‘accumulation’ on Petrom stocks, sets target price at 0.17 lei
1 Aprilie 2009
 Despite the downgrade, analysts remain optimistic and expect the share price to follow the rising oil price. We have always said that investors buying Petrom shares are mainly drawn by the huge consolidating and efficiency-improving potential....

Aegon moves into Romanian general insurance market
1 Aprilie 2009
 With respect to the idea of expanding into the private optional pension market (Pillar III), Kepecs explained that the company will be willing to take the step only when the economic and legislative environment is stable, referring to the...

Central lender cedes to banks nearly 1 bln euros
1 Aprilie 2009
Currently foreign currency resources of banks maturing in more than two years stand at 2 billion euros, according to experts from the banking system. Once the new decision enters into force lenders will not be required to store at the central bank BNR...

Fitch: Emerging Europe real GDP will contract by 3.1% in 2009
1 Aprilie 2009
 He said it expected only a modest recovery of 1.4% in 2010, insufficient to prevent further rises in unemployment and pressure on public finances. Emerging Europe (EE) will suffer its steepest fall in real GDP since the collapse of the Communist...

VIG reports 47.1% increase in gross written premiums in Romania
2 Aprilie 2009
 In the non-life segment, the premium volume amounted to EUR 569.16 million and therefore increased by 42.3 percent. The premium increase was also significant in the life segment with a rise of 187.1 percent in premiums to EUR 39.06 million. The...

Croitoru: A minimum of 1 bln euro could be unlocked in the market
2 Aprilie 2009
 “The amount is within the range of hundreds of million euros, below 1 bn if two-year maturity liabilities are at a maximum of 2 bn euros”, said Croitoru. NBR governor, Mugur Isarescu said recently that it would gradually reduce the...

Avoiding loan default: what to do if you have trouble making your credit payments?
2 Aprilie 2009
 Tips from loan brokers When someone wishes to contract a loan, it is highly recommended for the future borrower to draw a detailed budget of his incomings and outgoings. “Clients will have to put all spending on a cash-aware control...

Isarescu: Romania’s economic growth will remain positive
2 Aprilie 2009
 “Based on internal and external resources, the economy will continue to return a positive growth and we will ensure the much-needed macro stability”, said the governor of NBR, Mugur Isarescu after the meeting with members of Permanent...

Clal insurer seeks buyer for Romanian operations
2 Aprilie 2009
 He explained that the Romanian business is a greenfield investment which needs constant capital input from the parent-company and that owing to the current economic crisis there are no clear parameters as to the return of that money. Clal...

Number of jobless to go below 600,000 at yearend
2 Aprilie 2009
 “The number of jobless projected by IMF is at 800,000 and unemployment rate at 8% in Romania, following the severe economic contraction expected this year. Nevertheless, I expect the number of unemployed to remain below 600,000 mark this...

Leu glides below 4.2 lei/euro rates
3 Aprilie 2009
 The rate has not been so low since January 8, when it stood at 4.1385 lei per euro. The central bank published yesterday a reference of 4.2198 per euro, below the 4.2329 of April 1. During the first month of the year the exchange rate reached...

Bankers set aside twice as much money for troubling times
6 Aprilie 2009
 More money set aside by banks At the end of December 2008, the valuation reserves totaled 7,58 bln lei, 15.3% below the level of January 2009. At the end of first month of 2008, the provisions amounted to 3.96 bln lei. On January 31, 2009,...

IMF launches fund to fight money laundering and financing of terrorism
6 Aprilie 2009
 The multi-donor trust fund—the first in a series of so-called Topical Trust Funds—will start operations on May 1, 2009, and provide about 31 million dollars over five years. Switzerland, Norway, Japan, Saudi Arabia, the United...

John Ashcroft, former president of IOPS: About the private pension provision and reform in Romania
6 Aprilie 2009
Wall-Street: How could the lack of maturity of the Romanian financial system and the poor financial education of the public affect the private pensions system here? John Ashcroft: The provision of private pensions in countries with relatively...

Sports and the art of healthy living: A business that outplays crisis
6 Aprilie 2009
 Michelle Dietrich, general manager at  World Class at Grand, waved a final goodbye to “the land of opportunity”, back in the 95’and embarked on a journey to Poland, only to settle down six years later in Romania. In an...

Insurer Asirom sees a 10% increase in business pumped by non-auto general policies
6 Aprilie 2009
 Last year Asirom saw a turnover of 748.4 million lei, 19 percent up versus 2007 and was the third largest insurer in Romania with 8.43 percent of the market, according to the market watchdog CSA. The Casco segment is expected to keep a flat line...

Moody's lowers outlook to negative for BCR deposits in lei
6 Aprilie 2009
 The deposit ratings for BCR incorporate an uplift reflecting the rating agency's expectation of high support from its parent, Erste Bank. BCR's local currency deposit ratings of Baa1/Prime-2, and the foreign currency deposit ratings of...

Parent-banks increase injections in their Romanian subsidiaries
6 Aprilie 2009
 Banca Romaneasca, majority owned by the National Bank of Greece with 89.07 percent of the shares, hiked its capital by 43.5 million euros. Millennium Bank Romania received a capital inflow of more than 37 million euros. A single capital hike was...

Foreigners invest in February almost EUR 100m in insurance companies activating in Romania
6 Aprilie 2009
 Capital injections stood in February 2008 at 39.68 million euros and at 16.97 million euros in the first month of 2009. The largest input, of 41.85 million euros, was made by the French insurer Groupama into BT Asigurari and Asiban. A short...

Romanian construction companies to set up a bank within three years
6 Aprilie 2009
 The General Federation of Trade Unions “FAMILIA” and Romanian Association of Entrepreneurs in Construction (ARACO), expect to establish the bank by 2012, said the president of FGS Familia, Dan Cristescu (photo) . “The project...

Heidi Chocolat sweetens business amid crisis
6 Aprilie 2009
People still eating chocolate despite financial crisis Erwin Vondenhoff (photo) , managing director of one of the largest chocolate makers in local marketplace, says the current poor economic context is no real threat to solid brands with a...

Poll tax to dry up companies in Romania of at least 4,333 lei in the last eight months of 2009
6 Aprilie 2009
 Moreover, night clubs, discos, casinos and sports betting houses, including legal persons that report revenues on the basis of a contract of association, for which the profit tax owed to the state is smaller than 5 percent of the revenues are...

ATEbank Romania sees 12 mln lei pre-tax profit in 2009
6 Aprilie 2009
 The lender posted a gross profit of 4.13 million lei at the end of 2008. ATEbank also estimates to count total incomes of 134.6 million lei and expenses of 122.6 million lei this year versus the 115.6 million lei incomes and 111.4 million lei...

Electrica axes 200-300 jobs
6 Aprilie 2009
The electricity consumption lowered by 7.2 percent year-on-year in the first quarter, according to the deputy general manager of state-owned electricity transporter Transelectrica, Octavian Lohan. Electrica currently has a headcount of 15,000 –...

Romanian car dealer Radacini group estimates halved sales
6 Aprilie 2009
The group expects a 10 percent year-on-year advance of turnover for 2008. It reported 90 million euros business in 2007. Construction works at a unit including sales, showroom and service in the southeastern city of Constanta are almost ready and the...

Leu hikes to three-month high versus euro
6 Aprilie 2009
 The national currency rose constantly starting March 23, from a reference exchange rate of 4.2950 lei per euro. It last reached such a high level on January 8, when BNR posted an exchange rate of 4.1385 lei per euro. The central bank established...

Real estate agents’ approach – what went wrong and what needs to be changed?
7 Aprilie 2009
 Many of them have lost the sense of reality Bogdan Georgescu (photo) , president of real estate advisor, Colliers International says many real estate agents have lost their sense of reality over the past few years and focused more on...

Top 5 banks take steps to ease lending rates
7 Aprilie 2009
 After Banca Transilvania had cut the interest rates for loans in lei destined for natural persons by 1-2 basis points, down to 15% - 15.5% per year, another Top5 bank, Raiffeisen Bank, chopped lending rates for new loans. Thus, interest...

Romatsa to slash 200 jobs by year end
7 Aprilie 2009
 “Airline carriers urges us to cut costs, a measure that would help them boost traffic and revenues respectively,” said Bogdan Donciu. Romatsa revenues stood at 140 million euros in 2008, the managing director expecting this...

Renault ships the new Megane range in Romania
7 Aprilie 2009
Renault Megane and Coupe ranges features two categories of petrol engines, of 1.6 liters and 16V and two common rail diesel versions of 1.5dCi that develops 105 HP and 130,HP 1.9dCi. For the new Renault family, the gearbox is manual with six speeds....

Erste: Stock markets may stabilise in Q2
7 Aprilie 2009
 The impacts of the global financial and confidence crisis have wormed their way into the real economy especially, and the extreme slide of the equity markets over a period of more than one year and a half being clearly exaggerated. In the most...

Web traffic ranking for top business online publication in March: Wall-Street keeps leading position for the seventh successive month
7 Aprilie 2009
 Wall-Street attracted in February 750,792 unique visitors, 143,133 more than in January, 1,412,747 visits and 3,260,439 views. Furthermore, the website edited by InternetCorp. totaled a unique audience 8.5% higher than Ziarul Financiar...

KPMG: Financial services and governments urged to collaborate in creating new international markets
7 Aprilie 2009
 The survey, “Future of the Saver” looks at taxation of savings in 12 large economies, and the work being done by international bodies both to open up the market in cross-border savings and to counter tax evasion. It suggests that the...

Intesa Sanpaolo Bank Romania to relax mortgage lending standards within 2-3 months
7 Aprilie 2009
 The lender plans to change the calculation method of clients’ scores for mortgages and to launch a new credit card as this segment bears high potential taking into consideration the current conditions on the market. The representatives of...

Romtelecom launches high speed Mobile Internet service
7 Aprilie 2009
 Clicknet Mobile Internet, the newest service in the company’s portfolio, has promotional prices starting from 4.9 euros/month, VAT excluded. Subscribers from more than 20 cities (for example: Bucharest, Brasov, Cluj-Napoca, Craiova, Piatra...

Fundamental solutions of crisis prevention: Why do cost reduction efforts fail?
8 Aprilie 2009
 Companies from around the world have taken measures in order to secure their position in the tough economic environment generated the global financial crisis, a recent Erns&Young study found.

How Romanian employers write job descriptions?
8 Aprilie 2009
 “After many years of experience in human resources advisory, I can say that as less as 10% companies may have job descriptions that achieve the maximum utility in terms of efficiency and management”, said Adriana Badescu, consultant...

The reference exchange rate climbs to 4.1684 versus euro
8 Aprilie 2009
 Yesterday's reference exchange rate was 4.1549 lei per euro, a level not reached since January 8, when the rate was of 4.1385 lei per euro. The leu won 3.26 percent during the last fortnight. The national currency stood this morning at...

Companies with up to EUR 12,000 business in Romania to pay poll tax of 500 euros
8 Aprilie 2009
 Companies that register an annual business between 12,000 euros and 50,000 euros will pay a tax of 1,000 euros. Moreover, firms that end the year with a turnover between 50,000 euros and 100,000 euros will be taxed with 1,500 euros for the...

Changes of the Fiscal Code put the car industry at the risk of collapse
8 Aprilie 2009
 The new tax rules in the initial draft Fiscal Code are likely to have severe impacts over the car industry activities in Romania, namely car and car parts production and distribution, maintenance and service, as well as leasing services or fuel...

Volkswagen Romania reports halved sales in Q1
8 Aprilie 2009
 Last year the company delivered 23,887 cars, out of which 20,070 auto vehicles, making for a 10.86 percent market share and 3,817 utilitarian vehicles, answering for a 10.69 market share. The best sold models were the Polo GP, with 4,327 units,...

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