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

The new Audi A8 available in Romania since spring 2010
1 Decembrie 2009
The new Audi A8 will make its debut at the Audi pavilion in Miami Beach. The current Audi A8 has been on sale since 2003, and has received a minor facelift. The car is available both in diesel and petrol options. Diesel option comes in two variants:...

Happy Tour invests €400,000 in rebranding
1 Decembrie 2009
Happy Tour’s turnover grew 7% to €50 million in 2008 from €46.4 million a year earlier. In December 2007, the venture capital fund GED Eastern Fund based in Spain acquired majority stake in travel agency Happy Tour. The deal marked...

Armed robbery at Raiffeisen Bank
1 Decembrie 2009
The witnesses to the robbery said the two men were wearing motorcycle clothing and helmets. The bank had only video surveillance systems, but no security guards, none of the witnesses being able to say what the two men took after the robbery. It is a...

Caroli gets PHARE grants for a professional training program
1 Decembrie 2009
The program, carried out in January – November 2009 provided training to middle management employees and specialists. “Trainees’ feedback has been positive. For employees, investment in human resources in times of economic crisis,...

Visa Europe predicts busiest ever ‘mega Monday’ for online shopping
1 Decembrie 2009
Visa Europe says over €318 million is likely to be spent by European cardholders of Visa cards in Europe, with two thirds taking place on Visa debit cards. The volume of transactions is also expected to increase thus by 13% compared with the same...

Rompetrol lowers gas prices
1 Decembrie 2009
Efix 95 gasoline is now priced at 3.93lei/liter while Alto 101 costs 4.54lei/liter. Efix Diesel products line remained at 3.81, while Diesel Alto 55 costs 4.10lei/liter. Fuel prices in Rompetrol Downstream filling stations can vary by +/-5% from the...

Inflation in the euro area turns positive
1 Decembrie 2009
In October, annual inflation rate in the euro area was -0.1% year-on-year, after hitting -0.3% in September, -0.2% in August, -0.7% in July and -0.1% in June, while in May it remained at the same level. In April, inflation rate in the euro area rose...

Sanofi Aventis pays €140,000 for 0.20% of Zentiva
1 Decembrie 2009
After paying 2.24 million lei (€0.51 million) on November 16 for 0.77% of Zentiva, the majority shareholder acquired another 0.20% interest. The median price paid by the drug maker for the 825,000 shares was 0.7lei/share, similar to the IPO...

EC sets deadline for details on reactors 3 and 4
1 Decembrie 2009
“The European Commission has sent us the main areas of interests related to the reactors 3 and 4 from Cernavoda. The European Commission has set a deadline for January to provide it with these details, and we have the obligation to respond to...

Midday Forex: Leu gains slightly against euro in quiet trade
1 Decembrie 2009
The National Bank of Romania posted an official exchange rate of 4.2807 lei per euro in the previous session. The leu traded around 4.27 versus the euro this morning. In the region, the Polish zloty climbed from 4.1952 to 4.14 per euro, while the...

Erste raises Romania budget gap forecasts
1 Decembrie 2009
Erste analysts have thus worsened the budget deficit outlook for 2010, from previous estimates of 6.6%, according to cash method. Erste has also revised its 2011 deficit forecasts, from 5.6% of GDP to 6.1%. In 2011, Romania should be able to contain...

FIC stocks ignore bad news from Dubai, move 1.5% higher
1 Decembrie 2009
On Monday, the Bucharest Stock Exchange traded around 14.38 million lei (€3.36 million), down 37% from Friday’s close of 23 million lei. BET index that gauges the performance of the ten most liquid stocks at the BSE ended 0.49% to 4,841.58...

Dragos Damian retakes CEO position at Terapia
2 Decembrie 2009
Dragos Damian (photo) will return to his former position as chief executive of Cluj-based drug maker Terapia, company acquired in 2006 by the Indian-based giant Ranbaxy Laboratories. Damian stepped down from his post in mid October as chief executive...

Top 10 brokerage firms by transaction value
2 Decembrie 2009
The liquidity at the Bucharest Stock Exchange dropped markedly in November, which reflected in brokerage transactions, and in the country’s leading brokerage firm league table.

Romanian government owes €100 million to Bechtel
2 Decembrie 2009
The minister of transportation, Radu Berceanu said the Romanian government still has to pay around €100 million to the construction company for the works at section 2B of the motorway. “All we have to do is repay the accrued debt and put in...

Prunea and other former Broker Cluj employees under criminal probe
2 Decembrie 2009
Among the seven persons who will face criminal investigation are Petru Prunea (photo) , former chairman and chief executive of SSIF Broker, who was severely sanctioned by RNSC in mid April, and banned from trading in the Romanian capital market for...

Two other deaths caused by swine flu in Romania, number of victims reaches five
3 Decembrie 2009
A 43-year-old man from Radauti, infected with the AH1N1 virus and also suffering from diabetes and obesity, died in the ambulance that was taking him to a hospital in Iasi on November 23. A day later, the Health Ministry reported the second death...

Romania's foreign currency reserves grow to a historical peak
3 Decembrie 2009
The reserves amounted to 28.40 billion euros in October. Last month, MFP collected 2.2 billion euros from the market through two foreign currency bond emissions, maturing in three years, respectively one year, NewsIn states. Inflows totaled 2.69...

Insurer Astra Asigurari targets to triple profit this year
3 Decembrie 2009
It booked gross premiums written (GPW) of 649.9 million lei last year and a net profit of 3 million lei. The company had more than 700,000 RCA policies closed after the first ten months, according to Mustatea. In the first nine months, Astra...

The SIF sector on BSE ends the third consecutive session of increase
3 Decembrie 2009
Transactions totaled 18.11 million lei, 26 percent up from the previous session. The BET index reflecting the evolution of the ten best companies on the market added 1.29 percent to 4,903.98 and the BET-C composite index assessing all listed shares...

Final results: Basescu wins presidential elections. PSD challenges results
8 Decembrie 2009
The general secretary of Social Democratic Party, Liviu Dragnea, said the social democrats will challenge the results alleging electoral fraud, which will thus undermine the legitimacy of Romania’s presidential vote. The decision made public by...

Unit labor costs climbed 0.32% in Q3
8 Decembrie 2009
In the second quarter, labor costs per hour increased by 1.51% from the first three months, after falling 0.75% in Q1 on a quarterly basis. Quarterly indicator of labor costs went up 0.18% in third quarter from Q2 and stood 7.89% above Jul-Sep 2008...

Lasselsberger Romania faces criminal charges
8 Decembrie 2009
“Delta (e.n. Distribution) has declared lost a bank instrument it leaved to Lasselsberger for the payment of products and claimed the opening of criminal investigation against the company for alleged fraud”, Lasselsberger Romania said....

Generali PPF pays 1.3 billion lei to Ardaf minority shareholders
8 Decembrie 2009
Minority shareholders own collectively 1.08% of the company, or 11.8 million shares. The minority shareholders will thus receive 0.11lei per share. The Romanian National Securities Commission (CNVM) approved a week ago Generali PPF’s request to...

Romgaz begins gas production on seven new gas fields
8 Decembrie 2009
“Subsequent to testing drilling works performed in the previous years, as well as the infrastructure works at the surface (gas collection pipes), we consider beginning industrial gas production on these newly-discovered fields next year. For...

Romanian banks post record growth in problem loans
8 Decembrie 2009
Compared to end-2008, outstanding loans increased two times (105.4%), while problem loans 90 days past due jumped 267.8% from 1.113 billion lei on December 31, 2008 to 4.094 billion at the end of October this year. Delinquencies for loans removed...

Citi: Formation of a new government remains a challenging task
8 Decembrie 2009
“We believe that long delays in forming a new government or snap elections constitute an important risk. Concerning the latter, we think that the probability of early general elections is rather low, given the absence of strong incentives among...

Midday FX: Presidential election results spark leu sell-off
8 Decembrie 2009
The leu traded near 4.23 versus euro in the morning and remained weak throughout the day, plummeting to 4.5units/euro, on fears that political pressures are likely to persist with Traian Basescu still in office. However, the leu started to gain ground...

Presidential elections push FIC stocks 5.6% lower
8 Decembrie 2009
“The faint hopes of a new government that could bring the much needed stability to Romania have triggered to stock market decline today”, said Gabriel Necula, broker at Prime Transaction. “The mounting political uncertainties...

Malev goes after Tarom and Austrian Airlines’ passengers
9 Decembrie 2009
The Hungarian carrier said its market share in Romania on Romania-Budapest route (five destinations – Bucharest, Cluj-Napoca, Targu-Mures, Timisoara and Iasi) was 84% at the end of November 2009. “Tarom is not a strong airline like other...

Franklin Templeton confirms final offer made to Fondul Proprietatea
9 Decembrie 2009
The final offer was originally made on June 9, 2009 and was valid for at least 180 days. “We would like to reiterate both our willingness and long-term commitment to manage the Fund for the benefit of all of its shareholders and to do our...

Colliers waives investment transaction fee
9 Decembrie 2009
“Accepting commissions from both parties involved in a certain transaction sets up a severe conflict of interest. When a broker, hired by the owner of a commercial property to find suitable buyers, accepts that his client (the party who is paying...

IMF stands firm on Romanian 2010 budget gap target
9 Decembrie 2009
“Should the macroeconomic environment suffer major changes, the target will be revised, same as we did in March earlier this year. We have already agreed on a budget gap of 5.9% of GDP for 2010, and we are pretty firm”. The budget gap...

Dacia to bring the new Duster 4x4
9 Decembrie 2009
The Pitesti factory, which is the principal production facility for Entry-range models, will supply all these markets with both Dacia- and Renault- badged versions. The Romanian plant has an annual production capacity of 350,000 vehicles and will...

Romania’s October factory output falls 1.5%
9 Decembrie 2009
Year-on-year, industrial production dropped 3% in October 2008, 11.5% in November 2008 and 18% in December, and stabilized at around 12% in the early months of 2009. YoY factory output fell 9.5% in April this year, 9.8% in May, 8.9% in June, 6.9% in...

ING: Only IMF could push Romania out of crisis
9 Decembrie 2009
“Monitoring Romania is essential for putting in place some fiscal measures. Therefore, cutting public expenses is urgent, and an increase in taxes is inevitable”, said Nicolae Alexandru Chidesciuc at the annual conference of the Association...

FIC stocks end lower, market shows modest gain
9 Decembrie 2009
“Investors still don’t know how to react to the news coming from the political environment, and each works on different assumptions about the formation of a government. This is why some investors have reduced their exposure in this period,...

Midday Forex: Leu remains weak to euro
9 Decembrie 2009
Yesterday, the central bank has set a mid-point reference rate at 4.2141 lei/euro. The national currency was trading near 4.2340 units/euro in the morning, and gained afterwards to 4.2240lei/euro. The leu fell slightly t o 4.23 units/euro later on....

Romtelecom transfers 400 workers to Ericsson Romania
10 Decembrie 2009
“Romtelecom and Ericsson announce the conclusion of a five-year managed services agreement which also includes outsourcing of field operations. As a result, Romtelecom will transfer 400 staff to Ericsson as of January 11, 2010. Ericsson will be...

First half of 2010 to be crucial for the recovery of the banking system
10 Decembrie 2009
“I think it will turn out to be worse in 2010 than 2009, and the first half I expect to be crucial for the banking system. We are lucky to have a good capital adequacy ratio”, said Nicolae Cinteza (photo) , director of the Supervisory at...

The 13th month pay, removed from companies’ benefits package
10 Decembrie 2009
Companies that offered 13th month pay last year are now in the position to remove it from their seasonal benefits package for December 2009, but they will adopt a performance-based compensation system. Moreover, 54.6% of the respondents said they...

Mercedes Benz opens auto parts warehouse in Oradea
10 Decembrie 2009
“Given the market dynamics and the slow economic recovery, the company’s actions and market estimates were aimed at supporting and optimizing our activity”, said Michael Grewe, CEO and chairman of Mercedes-Benz Romania at the opening...

Nacu, Entreprise Investors: PE investment remains an important funding source
10 Decembrie 2009
Enterprise Investors holds six private equity funds and one venture capital fund established in September 2008. “There are many companies in Romania and south-east Europe in need of funding from venture capital sources”, said Nacu,...

Metro opens new Real outlet in Romania
10 Decembrie 2009
The store is located outside Ploiesti, in Blejoi, and has a selling area of 7.731sqm and a parking with over 550 spaces, which will employ around 280 persons. “We invested almost €24 million for this new store, the total investment in...

Midday Forex: Leu still in downtrend
10 Decembrie 2009
Yesterday, the central bank set a reference rate of 4.2249 lei/euro. The national currency was trading near 4.2380 lei/euro in the early trades, above the yesterday’s closing and dropped to 4.2420. Afterwards the leu managed to buck the...

Dacia car manufacturing plant to produce 150,000 Duster cars
10 Decembrie 2009
Automobile Dacia announced on Tuesday that the new Duster will come off the assembly line in spring next year, and that the the Pitesti factory, which is the principal production facility for entry-range models, will supply all these markets with both...

BSE indexes close sharply down
10 Decembrie 2009
In the Wednesday’s trading session, the liquidity at the Bucharest Stock Exchange nearly doubled to 39.01 million lei (€9.21 million), from yesterday’s 19.74 million lei, as two consistent deals with SIF5 and SIF2 stocks put some heat...

Top 8 tips for entrepreneurs in a recession
11 Decembrie 2009
Three specialists with extensive experience in entrepreneurship, M&A and human resources, gave some tips for entrepreneurs to rethink their strategy and enhance efficiency of its business as they guide their organizations through these stormy...

Michael Grewe, Mercedes: After-sales operations expected to rise in 2009
11 Decembrie 2009
“If after-sales servicing were normally accounting for 20% of Mercedes-Benz Romania’s turnover, in 2009, the share is expected to rise to 35-40%”, said Michael Grewe, CEO and chairman of Mercedes Romania at the opening of the car...

Realitatea-Catavencu expands to Moldova
11 Decembrie 2009
In order to go for an expansion of this scale, Realitatea-Catavencu has signed a strategic partnership with Chisinau-based Stiri Media Group, for the development of television and online business. The company also announced the end of talks regarding...

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