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

Citibank Romania shuts down 30 of its 39 CitiFinancial Centers
2 Februarie 2009
The reorganizing process will spread over the first quarter of the year and will include laying off 80-90 people. Prior to this process, the bank was operating eight centers for business, 39 agencies for the population and 50 selling centers. When...

Boc’s budget toolbox – measures to tackle crisis
2 Februarie 2009
State workers’ wages hike 5% Prime Minister Emil Boc said the budget plan had been passed in the yesterday’s session of the Executive, adding that they would handle new round of talks with the trade unions early next week, and if the...

How profitable were the Romanian biggest banks in 2008?
2 Februarie 2009
CEC Bank profits, lifted by the sale of Asiban CEC Bank reported a net profit of 370 million lei in 2008 (nearly 100 million euros), and counting out the profits from the sale of the stake in Asiban, the earnings rose 65%, said the chairman of...

Luxury travel industry faces the ‘crisis threat’
2 Februarie 2009
C. Francu: “You pay for a piece of paradise” Luxury is about stand-out customer-focused services and amenities; it can be seen as a trifle or a necessity, a proof of power or arrogance. A luxury package offers to clients the warranty...

Dan Paul: It’s time to wake up and find tangible solutions to crisis
2 Februarie 2009
“Capitalism will change the way we see things” Although some people were ready for a crisis, given the signs emerged by the capital market, its outburst still took many by surprise. “It’s like an earthquake where people...

Key- question in the real estate industry: How to stay alive in 2009?
2 Februarie 2009
With over 371 real estates under management, Goodman is one of the biggest listed real estate groups worldwide, with over 1,200 employees in the 39 subsidiaries from 19 countries. Muler Onofrei was appointed at the helm of Romanian subsidiary in...

Raiffeisen Capital & Investment, No.1 broker on the Bucharest bourse in January
2 Februarie 2009
Raiffeisen Capital & Investment brokered deals of 94.49 million lei and reached a market share of 15.75 percent. ING Bank brokered 65.57 million lei, translating into a market share of 10.93 percent. BT Securities, the brokerage division of...

Dacia car sales in France sink to record low
3 Februarie 2009
The number of new car registrations in France fell by 7.9% in January, down to 149,385 units. Renault’s sales dropped by 20.9% (Renault -20.4%, Dacia -25.2%), while PSA Peugeot Citroen reported a 11.2% decline (Citroen – 11.3%, Peugeot...

Founder of HBO Romania, takes up CEO duties of Kanal D
3 Februarie 2009
The official announcement was made by Begum Dogan, chairwoman and vice president of Dogan Media Group. Pavel Stanchev (photo) , aged 42, was born in Sofia and graduated journalism in Paris. In the last 16 years, he has held various executive...

Recently sworn-in Romanian interior minister resigns on lack of resources from the budget
3 Februarie 2009
But according to political sources cited by NewsIn, Dragnea resigned from the Interior Ministry (MAI) due to a delay in naming the head of the General Direction of Information and Internal Protection (DGIPI) within the ministry and a governmental...

Judgment of International Court of Justice for Serpents’ Island: Romania – Ukraine – 1-0
3 Februarie 2009
Rosalyn Higgins, president of International Court of Justice read today the Court’s judgment in the case concerning the maritime delimitation in the Black Sea, filed by Romania against Ukraine in 2004. ICJ: Serpents’ Island will not...

DTZ Echinox: Office rents hit ten-year high in 2008
3 Februarie 2009
rentable area which makes it suitable to be compared to the level registered in Warsaw year-on-year. Despite the fast pace of growth, the Bucharest stock level is relatively low compared to other capital cities in the core CEE markets, such as Warsaw,...

The exchange rate climbs again to 4.32 per euro
3 Februarie 2009
The European currency was transacted slightly above 4.29 per euro at opening bell, but during first moves the leu receded to 4.3220 against the euro. The course decreased to 4.30, where it camped for a while, but at 17:00, banks were buying an euro for...

Advent International recruits top financier to CEE team
3 Februarie 2009
Peter Nachtnebel joins Advent from UniCredit Markets & Investment Banking, where he was Managing Director and head of financial sponsors and leveraged finance for Central & Eastern Europe, including Russia and Turkey, and Austria. In that role...

New crisis outbreak on sight?
3 Februarie 2009
Citigroup, RBS and carmakers – on the brink of bankruptcy? The disarrays of the European banking system reflected in the losses reported by RBS and in the meltdown of Erste Bank quotations, together with the somber predictions on this...

Financial companies slide 1.06% in early trades
3 Februarie 2009
The BET index of the ten best companies on the market lost 0.19 percent to 2,248.72 and the BET-C composite index that gauges all listed shares without financial companies added 0.46 percent to 1,517.16. The ROTX index for trading blue chips in...

How to use your MBA dissertation as vehicle to start up a business?
3 Februarie 2009
The business didn’t start in a garage, but in the backyard The business plan stemmed from the poor management situation experienced by the founders of the company in their relations with clients. “To enlist only few of the cases,...

Bucharest West logistic park gets major new tenant
3 Februarie 2009
The 70 hectares Bucharest West is situated on A1 at 14 Km West from the city center. Portland Trust, developer of office projects Opera Center and Bucharest Business Park, will deliver another office building, Florescu Plaza (Floreasca 169) this...

Lenders face 719 million euro in loan default in 2008
4 Februarie 2009
If in December 2007, the loan delinquencies accounted for 1.092 billion lei, at the end of last year, Romanians’ loan delinquencies rose to 2.865 billion lei (719 million euro). However, the outstanding loan rate in total loan volume reached...

Leu rises against euro in early trade
4 Februarie 2009
At 10:45 a.m., banks were buying a euro for 4.3070 lei and selling it for 4.3120 lei. “The market seems pretty quiet and the leu\'s short climb was probably brought about by commercial orders, as the market did not shift notably. Yesterday...

A friendly rupture between employer and employee. Outplacement grows stronger, as financial sector goes to pieces
4 Februarie 2009
Outplacement, deemed as a vehicle for a friendly redundancy between employer and employee, is a mean of career coaching, an industry that helps find jobs and rebuild careers for those who lose their jobs. “It is obvious that the demand for...

Erste: Highest deficit in the region should be in Romania
4 Februarie 2009
L. Anghel: Romania’s budget deficit, likely to jump to 5% The highest deficit among CEE8 countries should be in Romania, where the absence of changes in fiscal policy entails a fiscal deficit of roughly 7% of GDP, as most of the approved...

Performance of FIC stocks in financial crisis
4 Februarie 2009
The leverages of this issuer array are the varied participations in many sectors of Romanian economy, as well as a positive liquidity. Given the diversity on sectors, the evolution of FIC basket can be considered as a response to general economic...

Liliana Solomon, Vodafone: We will explore the likelihood of various crisis scenarios
5 Februarie 2009
“In 2009, we will face the impact of regulatory decisions on our earnings, ballooned by the shaky and unpredictable economic conditions. Therefore, our strategy is well-adjusted to these stormy times, and we take into consideration the likelihood...

Standard & Poor’s places Renault’s rating on creditwatch
5 Februarie 2009
The rating agency has also affirmed the ‘A-3’ short-term corporate credit rating. "The CreditWatch placement reflects our view that Renault\'s financial profile was hit by weak auto demand in 2008”,said Standard &...

Romanians’ net average earnings in 2008
5 Februarie 2009
Pay rises in telecommunication industry The lowest increases in net earnings were registered in the activities of radio equipment, television and telecommunication (7.9%) and financial intermediation – except insurances and pension funding-...

BNR cuts lending rate to 10% in surprise move
5 Februarie 2009
The decision came as a surprise to all analysts, members of AAFBR who expected BNR to leave the key rate unchanged at 10.25% in the earlier rate-setting meeting, and to cut the required reserve ratio leu-currency liabilities. Some 57% of the...

Romanian leu regains momentum versus euro after weak opening
5 Februarie 2009
At 10:45 banks were buying the euro for 4.3105 and selling it to 4.3160 lei. “The leu began the day down, but it is now slowly growing,” chief with treasury at Volksbank Romania, Ciprian Mihai, said. The leu is evolving in line with...

E.ON Romania in talks with Sterling Resources for natural gas supply from mainland
5 Februarie 2009
“We are handling talks over the last few months with Sterling Resources to acquire natural gas that they could extract from the mainland platform. It is not probable for us to participate in the bid for assignment for those perimeters”,...

Sensiblu: profitability, primary challenge of the pharmaceutical retail in 2009
5 Februarie 2009
“These days, a pharmacy in Romania works with profit margins at half of what would allow a break-even outcome, not to mention profit”, said Claudiu Opran, Chief Operating Officer at Sensiblu. The open targets, Opran notes, are those...

IMF expects Romania to slide into recession
5 Februarie 2009
IMF says in a press release where it describes the findings of its official staff visit in Romania, that the Romanian economy is likely to plunge this year to negative values, seeing a possible recovery no sooner than end-2009-early 2010. ING said...

EBRD issues bonds in lei to assist in the development of local capital markets
5 Februarie 2009
This is the first bond issuance of the bank in Romania’s local currency and it is addressed to individual and foreign investors, via a double listing, at Bucharest Stock Exchange and London Stock Exchange. “The further development of a...

Best-case scenario: Residential market revives by end-2009
6 Februarie 2009
CBRE|Eurisko representatives say it is unlikely for any developer to deliver major residential projects this year as the market will settle down and projects under construction will be completed. In 2008, the house prices fell by 30% compared to...

Romanian retail volume falls above the EU average
6 Februarie 2009
The Statistical Office of the European Communities observed slight increases in retail trade in Poland and Slovakia, of 4.6% and 3.2% respectively. However, Latvia, Estonia and Denmark reported the largest declines in retail trade compared to...

Romanian leu takes another leap forward
6 Februarie 2009
The currency exchange rate posted by National Bank of Romania indicate a slight depreciation of the leu against the US dollar, down to 3.3270 lei/dollar, from yesterday’s 3.3202. “The market is pretty calm,” chief dealer with...

Nicolae Vidu steps down at Rompetrol Well Service
6 Februarie 2009
“Out of respect for the company and also to eliminate all speculations on the connection existing between Rompetrol – Sterling Resources and Midia Resources, Nicolae Vidu decided to step down as administrator from Rompetrol Well Service,...

easyJet carried more than 2.8 million passengers in January
6 Februarie 2009
The occupancy level of the low-fare carrier had the same upward trend: if in January 2008, easyJet reported 72% occupancy, in January this year, the passenger load factor rose to 75.7%. In the last 12 months, the low-cost airline carried 44.7...

Monica Tatoiu, Oriflame: The financial crisis is putting off my departure from the company
6 Februarie 2009
We’ve seen the first signs of financial crisis in October The first two quarters of 2008 were ‘spectacular’ for Oriflame Romania, while the last quarter was ‘disastrous’, said Monica Tatoiu (photo) in an interview to...

KPMG: Romania lags far behind European states in terms of tax regime for private equity investments
6 Februarie 2009
In the last quarter of 2008, the European Private Equity and Venture Capital Association (EVCA) launched its fourth benchmarking study of European tax and legal environments, carried out in conjunction with KPMG’s Mergers & Acquisitions Tax...

Wizz Air flies to one new destination this summer
9 Februarie 2009
The route is a premiere for the airline carrier as well, as this is the first seasonal flight from Romanian Wizz Air’s hub. “Launching this route is an important step in the development process of the low-fare airline industry in...

Isarescu: We’re ready for the worst
9 Februarie 2009
“We are experiencing a V-shaped recession, however we have no information on the U-shaped one when the economy falls for longer time, even years. The worst form of recession is the L-shaped when the economy falls severely and stays there for as...

BNR sees a 2.2 - 2.3% economic growth in 2009
9 Februarie 2009
“The probability of a recession is very low. We think it is likely to register a positive economic growth”, said Popa. He expects the economic advance to recover in 2010 to the potential level, which in the midst of a global crisis is...

Leu rallies in the third successive session
9 Februarie 2009
Yesterday’s benchmark currency exchange rate indicated a level of 4.2872 over the euro, while two days ago it stood at 4.2954. The highest peak the exchange rate climbed this year was on January 22 when a leu was pinned at 4.3127 euros....

Financial crisis sends food complement market to break even in 2009
9 Februarie 2009
“In 2008, the value of food complement market rose 17%, in pharmacies reaching to nearly 60 million euro without VAT, and 100 million euro with VAT. This year, the best case scenario is a stagnation of the market and a possible decline”,...

New director, new strategy for the Bucharest Stock Exchange
9 Februarie 2009
Bonds will unlock the cash flow After the resignation of Stere Farmache as managing director of the Bucharest Stock Exchange, Anca Dumitru (photo) was appointed by the Board Council as interim for six months, receiving CNVM permit on January 16....

KPMG: Romania faces insurmountable delays in infrastructure
10 Februarie 2009
A mere 14 percentage of the surveyed believe that infrastructure is “completely adequate” in this regard. “Not only the investments in infrastructure draw commercial companies, they create job opportunities and gear revenues from...

Isarescu: An agreement with IMF involves additional costs. Who will cover them?
10 Februarie 2009
“The variant of a stand-by agreement, this non-used umbrella, with a non-usage fee of 25%, entails additional costs of hundreds of millions of euro. Who is going to cover them?”, said Isarescu. BNR governor highlighted the worryingly...

A glimpse into the future of advertising, as seen by David Lubars
10 Februarie 2009
Few weeks after his 50th anniversary, David Lubars, chairman and Chief Creative Officer at BBDO North America, woke up one day at the top of The Big Won list of best creative officers in the world. The “world’s best” distinction also...

Financial companies surge 1.92% in today's session, on record low liquidity
10 Februarie 2009
The BET index that gauges the performance of ten best companies on the market, slid 0.07 percent to 2,281.88 and the BET-C composite index assessing all listed shares minus financial companies lowered 0.08 percent to 1,497.36. The BET-FI index of...

Romano Quinzi: Not the crisis, but the leu’s downfall is the biggest challenge of 2009
10 Februarie 2009
“If this situation continues, our profit margins will take heavy reductions, because OBI is currently covering the depreciation of the leu without raising the selling price. The prices remained at the November’s level, while the national...

Sunt 4 pagini in Arhiva Wall-Street - luna Februarie 2009 - English-Version.
Pagini: 1 2 3 4