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

M&A Outlook: Lack of infrastructure projects and leu/euro currency exchange, Romania’s biggest threats for M&A market
1 Iunie 2009
A recent research by Musat and Asociatii found that in first half 2008, M&A in Romania rose by 150% to 3.3 billion euros, even though international M&A fell by 30%. During the same period, 55% of acquisitions in Romania were by international...

M&A Outlook: GED Capital Development to invest 70 million euro in Romania and Bulgaria by 2011
1 Iunie 2009
At the end of 2006, the company said it would invest around 150 million euros in companies in Romania and Bulgaria via GED Eastern Fund II, the second fund launched by the company, destined to South-Eastern Europe. The company targets an investment...

Wall-Street Conferences: Financial crisis strapped M&A marketplace in first five months
1 Iunie 2009
“M&A activity will keep taking the brunt of financial crisis pressure, apart from the few sectors with growth potential that can still present an opportunity to buyers,” said Ioana Filipescu (photo) . Sectors still on investors’...

Wall-Street Conferences: Paltineanu, UniCredit CA IB: Entrepreneurs should re-engineer their impaired business
1 Iunie 2009
“Entrepreneurs should come out of the wait-and-see mode and get more involved in the deal-making process. Where and if needed, distressed companies should be re-engineered, costs should be reduced to improve efficiency”, said Paltineanu...

Up to 80% of Romania's cereal crops could be scorched by the drought
1 Iunie 2009
Statistics show that only 20-25 percent of the country's agriculture lands received rain, the rest being in total crisis. If there is no rain during the next week, 70-80 percent of the lands is compromised,” declared Culita Tarata,...

Wall-Street Conferences: Dorul Lionachescu: a top-five bank received financial aid to avoid bankruptcy
1 Iunie 2009
“One of the largest banks in the local marketplace, whose name wasn’t disclosed, received 200-mln euro financial aid to stay afloat. The world’s markets were severely damaged and Romanian financial system was one step away from...

CEE auto sector to emerge from crisis with fewer but potentially stronger dealer networks
1 Iunie 2009
“The results of the survey show that dealers in CEE expect a very difficult year. We are likely to see even more consolidation in the industry and this will not be via acquisition of smaller dealers by larger ones, but through dealers waiting for...

Two more swine flu cases confirmed in Romania
1 Iunie 2009
All three are currently hospitalized at the “Matei Bals” Institute for infectious diseases. “The three patients are in a good state,” explained Bazac. The 30-year old U.S resident arrived in Romania on May 23, after a...

BMW X6 M and BMW X5 M, available for order as of August
1 Iunie 2009
The models are available for order in Romania as of August. The two models come with the new V8 turbocharged engine that develops 408kW/555 hp at 6,000 rpm engine speed and 4.395 cc cylinder capacity. The new M Twin Turbo engine is the first power...

P&G reports 46% profit slump in Romanian operations
1 Iunie 2009
The profit reported by P&G via its four divisions in Romania sank 46% last year when expressed in euros down to 23.7 million euros (87.5 million lei). The financial results of the four divisions for 2008 confirmed the market’s statute of...

PayPoint bucks the slowdown, reports 7% growth in revenues
1 Iunie 2009
As for PayPoint’s operations in Romania, the online and cash payments provider reported 14 major clients in its portfolio. At end of 2008-2009 fiscal year, PayPoint Romania had 5,702 collection points across the country, 42%up from prior year,...

Bank of Cyprus: Q1 profit up 54%
1 Iunie 2009
In the three months to March 31, Bank of Cyprus’ total loans in Romania reached 553 million euros, up 58.5% from 349 mln euros a year earlier, but down 4.3% from 578 mln euros reported in December 2008. “As of September 2008, the bank...

BSE shareholders agree to pay full-year profit in the form of dividends
1 Iunie 2009
Shareholders will therefore receive a gross dividend of 1.3 lei per share of last-year profit, which amounts to 10.6 million lei, three-fold lower than a year earlier. Shareholders will also appoint a new administrator, as Petru Prunea had to leave...

Fitch downgrades Rompetrol's rating to 'B'
1 Iunie 2009
“The funds from operations and EBITDA are expected to remain under pressure in 2009 and 2010 due to the cyclical downturn in the oil refining sector, which has been exacerbated by a sharp contraction in global demand for refined products”,...

Aurel Netin, Lenovo: Crisis will ease by year-end
1 Iunie 2009
The current year is highly challenging and difficult. In first quarter 2009, the market fell sharply and the coming months appear to be equally instable. Lenovo, a personal-computer manufacturer has managed to keep its operations as less damaged by...

ATEbank Romania reports Q1 net loss of 21 million lei
1 Iunie 2009
The 21 million lei loss calculated under Romanian Accounting Standards (RAS) translates into 1.2 million euros loss under International Financial Reporting Standards (IFRS). “The slowdown was caused by the opening of new units last year, which...

Distrigaz Sud officially becomes GDF SUEZ Energy Romania
2 Iunie 2009
Distrigaz Sud Reţele, a company set up in March 2008 after the separation of the distribution and trade activities, will keep its name and remain a unit of GDF SUEZ Energy Romania. GDF SUEZ Energy Romania will cut investments by 25 percent to 228...

Romania's Romgaz inks first agreement with Russian gas giant Gazprom since 1989
2 Iunie 2009
The joint venture could be set up in September. Gazprom representatives refused to make any comments on the issue, saying they did not know the Romanian minister was going to make such an announcement. Romgaz and Gazprom will have a direct long-term...

Romania's Jucu factory will be the only one to produce Nokia accessories for Europe
2 Iunie 2009
The plant belonging to the world's largest mobile phone producer will hire 400 more people to help assemble the products, the staff reaching 1,800-2,000 people.The accessories range from bluetooth headsets, car chargers, mobile phone slip covers...

Romania forex reserves up 8% in May
3 Iunie 2009
At the end of April, NBR’s forex reserves stood at 24.886 billion euros. Over the previous six months, NBR’s forex reserves had decline, after October 2008 peak when they equated 27.318 billion euros. In November, the reserves shrank to...

Banca Italo-Romena books 7.7 mln-euro profit in first quarter
3 Iunie 2009
Last year, the bank recorded after-tax profit of 20 million euros, roughly double from 2007. In 2008, the growth of net profit was 96%, and this year, Banca Italo-Romena continued to record an increase in net profit in first quarter this year. In the...

Number of completed new homes dropped slightly in first quarter
3 Iunie 2009
The downward trend in the volume of housing units supplied was more acute in central regions of the country, where 672 fewer dwellings were delivered when compared with first quarter last year, but also in the north-western regions where the total...

Nuclearelectrica’s profit hikes to 28 million euros in 2008
3 Iunie 2009
The company’s turnover rose last year from to 1.4 billion lei 909.6 million a year earlier. It also produced 11,225,808 MWh energy in 2008, a 72 percent hike over 2007, after the second reactor became operational in November 2007....

Big Brother: Are you monitored at your workplace?
3 Iunie 2009
How is staff monitoring carried out? “From my personal experience, I can say that approximately 90% of the companies with a headcount of no less than 2 monitor their employees’ activities at the workplace. Regardless to the origins of...

Currency exchange rates climb to 4.1924 on leu’s devaluation
3 Iunie 2009
BNR posted a benchmark exchange rate of 4.1817 lei per euro yesterday. The exchange rate hiked almost constantly in the first part of the day, from 4.1760 to 4.1940 lei per euro, then started to go down a little before 1 p.m. At 1:30 p.m. banks...

Record unemployment rates in euro area: 9.2% in April
3 Iunie 2009
Compared with March, the number of jobless climbed by 396,000, up to 14.5 million. In March 2009, the unemployment rate in all the 16 states in the euro area stood at 8.9%. In European Union, the unemployment rate was 8.6% in April, the highest level...

The new strategy of Apple’s sole distributor in Romania
3 Iunie 2009
The collaboration between Apple and Apcom Group, member of MDS Holdings started 22 years ago, and was constantly strengthened by establishing a solid and modern regional distribution network. MDS Holdings is operational for 35 years in 67 countries...

BCR allocates 4 million euros to the integration of chip card technology
3 Iunie 2009
“According to our plans, all cards will be embedded with a security microchip and starting with the end of first quarter 2010, BCR will no longer issue cards with magnetic tape”, said Igor Zganjer, executive director at BCR cards...

Csaba Gergely leaves PwC for Provident
3 Iunie 2009
Gergely has led the HR consultancy teams at PricewaterhouseCoopers Romania, and since January he is the chairman of HR Club, the professional association of human resources specialists in Romania. Prior to PwC, Gergely headed the human resources...

16 banks to tap into “First Home Owners” program
3 Iunie 2009
The program could become operational by the end of the month, Boc said, adding that the government would come up with a bill including all the conditions imposed to banks for participating in the program. People buying a house through the “First...

Negotiations for takeover of Petrochemicals Arges by Oltchim to be completed in a month
4 Iunie 2009
Largest Romanian company Petrom confirmed at the beginning of May it is currently in talks with the Economy Ministry for the transfer of Petrochemicals Arges to the state, but did not confirm the sum of 150 million euros announced by the ministry's...

Pension companies report losses of lei 859m for 2008
4 Iunie 2009
Pillar II players reported losses of 164.8 million lei in 2007. The highest losses were recorded by Allianz (44.4 percent), ING (18.5 percent) and Generali (10.8 percent), which stands at a total of 74 percent, reads the report. The smallest losses...

Isarescu seeks new mandate: “I am not retiring”
5 Iunie 2009
“As I am not yet 65 years old, I have no plans to retire”, said Isarescu on whether he was interested in a new mandate as the governor of National Bank of Romania. In August, the institution will organize elections for NBR board of...

Gelin, BRD’s capital adequacy ratio up to 11.6% after tapping unshared profit
5 Iunie 2009
“We will keep our capital adequacy ratio above 10% this year and in 2010 as well, without any need of additional injection. After adding the unshared profit, the solvency will stay in the range of 11.6% at the end of June”, said Gelin. At...

Romania's net average salary rises in April by 0.4%
5 Iunie 2009
The salary also rose in March by 3.2 percent month-on-month, to 1,402 lei. The highest incomes were reported in brokerage activities (4,116 lei on a 16.7 percent hike) and the lowest in the hotels and restaurant segment (765 lei). Significant rises...

Romgaz ends 2008 with a net profit of lei 537.29m
5 Iunie 2009
In 2007 the net profit stood at 509.55 million lei and the turnover at 3.271 billion lei. Romgaz and Petrom produce about two thirds of the country's gas consumption. Romgaz produced last year 5.850 billion cubic meters of gas, 0.75 percent from...

Top M&A financial and legal advisers
8 Iunie 2009
Top 10 consultants/ deal size Investment bank Merrill Lynch took part in the largest deals of 2008 and of first quarter 2009, while Deloitte had the highest deal count (nine, worth an aggregate value of 770 million US dollars), according to DealWatch....

EBRD makes first equity investment in private Romanian corporate
8 Iunie 2009
The injection of 6 million euros of new capital into Pehart Tec will support the company's drive to increase its production of tissue products by offering a high-quality alternative to more expensive imports. The company will use the funding to...

ING NV exits 10 countries, Romania remains on cards
8 Iunie 2009
“ING remains focused on countries like Holland, Belgium and Central and Eastern Europe and it would scale back operations from other 10. The bank management has not made a decision so far on the markets he would exit”, said Negritoiu. He...

Benchmark exchange rate drops to 4.2 lei/euro
8 Iunie 2009
Yesterday's rate was of 4.2143 lei per euro, a maximum of the past five weeks. “The evolution of the leu was very calm, on a low-volatility market, but following the regional trend. Investors remained focused on the news expected to come...

EGL Romania to invest in a wind energy park
8 Iunie 2009
“The long-term strategy of the company includes a round of investments in Romanian market in renewable energy and natural gas storage facilities. We are considering building a Greenfield wind energy park with a power between 20 and 50MW, for...

Wienerberger temporarily shuts down production sites in Gura Ocnitei and Triteni
8 Iunie 2009
“Wienerberger has adopted all the necessary measures to adjust its production output to market conditions. These measures are part of Wienerberger’s broader restructuring program for 2009, designed to adapt the production capacity to market...

A higher BSE variation band leaves room for excessive price movements
8 Iunie 2009
The BSE will push the maximum variation limit from 15 percent to 40 percent starting with June 15 for shares whose performance is measured by BET index of the ten best companies on the market. Bucharest Stock Exchange shareholders agreed upon this...

UniCredit Tiriac Bank finances the biggest electronic waste recycling factory in South-East Europe
8 Iunie 2009
The 7-year credit line will cover the costs for the treatment and processing equipments in compliance with UE 2002/96/EC Directive on waste electrical and electronic equipment. The factory required a total investment of around 10 million euros. The...

Fitch affirms Romania’s ratings, stresses dependency to IMF
8 Iunie 2009
The country ceiling and short-term foreign currency issuer default rating have been affirmed at BBB and B respectively. "Romania's IMF-backed adjustment program supports its creditworthiness, but the authorities' ability to adhere to the...

Final ballot count: PSD+PC scores 31.07% of votes, PDL 29.71%
9 Iunie 2009
Thus, PSD+PC got a total 1,504,218 votes and PDL counted 1,438,000 ballots. The Liberal Party (PNL) ranked third with 14.52 percent or the equivalent of 702,974 votes, followed by the Hungarian minority party UDMR with 8.92 percent and 431,739 votes,...

Bancpost cuts interest rates on loans
9 Iunie 2009
“After decreasing interest rates for deposits, we will start pushing down the loan rates accordingly”, said Mihai Bogza (photo). He added that the market liquidity improved significantly, hence interest rates for deposits should decline....

Airline loss forecast revised to 9 billion dollars
9 Iunie 2009
IATA’s revised forecast sees revenues declining an unprecedented 15% from 528 billion dollars in 2008 to 448 billion dollars in 2009. “There is no modern precedent for today’s economic meltdown. Our future depends on a drastic...

Romania's Rovinari power complex gets a lei 25m financing line from lender BRD
9 Iunie 2009
The money was taken as a preventive measure and will be used for production activities. The complex will pay a ROBOR interest rate at six months and a 1.5 percentage points margin. Davitoiu also mentioned that the complex will sign in a week or two a...

First house buying program is unaccessible to most of the people
9 Iunie 2009
He described the government's initiative to thaw the real estate market and help citizens as very praiseworthy and welcomed, but unadapted to the market's level of investments. “The 60,000 euros loan is way below the price of a decent...

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