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

Record profit for Romania’s biggest lender
2 Martie 2009
Its net profit accelerated by 119.8 in 2008 over the previous year’s level of 924.8 million lei. Yet, without gains generated by the two sales, the net profit would have only been of 1.3 billion lei, tantamount to a 13 percent yearly advance....

Retailers vs developers: Who gets the final say?
2 Martie 2009
Momentum of retailers What is in sight for local retail market and what players have the power to change the course of things, were some of topics on “Passion for retail” seminar agenda, organized by Eurobuild Central & Eastern...

Leaders see slumping activity in the next three months
2 Martie 2009
Three in ten managers (31%) in processing industry expect the production output to shrink in the next three months, on declining number of contracts and orders in the prior quarter, both for internal and international market, the research found....

Rich man’s sport, impacted by crisis?
2 Martie 2009
“Golf, a hobby backed by adjacent activities and services” In 2008, the number of members at the golf club “Green Lake” (Lac de Verde) in Breaza remained steady, at the same level as in 2007. The 155 persons benefiting of...

MOL Romania reports 12 million net profit in 2008
2 Martie 2009
The company saw turnover up 11 percent year-on-year in 2008 to 590 million euros, on higher sales. It pumped 30 percent more money last year over the previous to develop the unit network. MOL Romania plans to develop its network this year by...

Romania’s annual inflation rate – fourfold higher than EU average in January 2009
2 Martie 2009
In first month this year, EU’s Member States with the highest annual inflation rate was Latvia, with 9.7%, Lithuania with 9.5% and Romania, with 6.8% according to data remitted by Statistical Office of the European Communities. The lowest...

Wine maker Murfatlar expects 200 mln lei turnover in 2009
2 Martie 2009
Last year, the company booked a turnover of 176 million lei. It plans to invest some 2.8 million euros this year, mostly to replant 175 hectares of vineyards. In the past two years the company doled out 4.1 million euros to replant some 335...

Piraeus Bank Romania doubles profit in 2008, to 43 mln euros
2 Martie 2009
announced. “Although we have a negative economic outlook for the coming period, we remain optimistic on the bank’s capability to keep a favorable evolution. Our optimism is supported by cautiousness, effective stewardship of expenditures...

Nine-month overview of Romanian mandatory funded pension scheme
3 Martie 2009
The yearly yield would stand at 11.9 percent by the calculations of APAPR, the president of the association, Crinu Andanut said. The funds have so far adopted a conservative investment strategy counting mostly on fixed-income financial instruments...

Voluntary leave list for Hunedoara-based ArcelorMittal branches
3 Martie 2009
The chemical plant has three subsidiaries, Mecanicasider, Electrosid and Constructsid, employing 231 people altogether, ArcelorMittal Hunedoara GM Remus Patan said. People who have been working for five years at the plant will receive 10,000 lei...

KBC Securities claims top position as No1 stock market broker
3 Martie 2009
KBC ranked fourth in January. However, the leader of the first two months of the year is Raiffeisen Capital & Investment after having brokered deals of 123.59 million lei and despite a fall to the seventh position in February when it brokered...

Romania, vulnerable to financial crimes and money laundering
3 Martie 2009
Smuggling of illicit goods, tax evasion and online credit card fraud are additional of financial crimes prevalent in Romania reads the State Department report on drug smuggling, that encloses a chapter assigned to money laundering and financial crimes....

Exchange rate slumps for the third successive session. Insiders suspect the intervention of BNR
3 Martie 2009
The reference exchange rate posted on February 27 was of 4.2909 lei per euro. The rate climbed today at opening bell to a maximum of 4.3158 lei per euro but at 13:20 banks were buying a euro for 4.2989 lei and selling it for 4.3101 lei. The...

Germany confirms Romania is in loan talks with IMF
3 Martie 2009
“Romania is in talks with IMF for additional loans. I hope the talks will be successful”, said the German minister of foreign affairs, Frank-Walter Steinmeier after a meeting with his counterpart, Cristian Diaconescu. Romanian minister...

Global Finance expects 3 deals and 100-mln euro acquisition in 2009
4 Martie 2009
Currently, the company is in negotiations with 5-6 Romanian companies. “We are in talks with local 5-6 local entrepreneurs. We are negotiating the structure. There is no offer on the table as long as there are deals in progress”, said...

Negritoiu, ING: The loan from EU and IMF is vital to fill in the financial gaps in Romania
4 Martie 2009
He said the Romanian legislators should make more efforts to limit both macroeconomic and microeconomic risks, stressing that the loan package is “absolutely necessary” in this purpose. The effect stemming from restructurings ran by...

Financial crisis closes doors of the spring’s edition of JOBfest fair
4 Martie 2009
“In January, we have decided to cancel the spring job exhibition, as the job offer has sharply narrowed lately. We were actually wondering if it makes any sense to hold a fair with 30 employers or even less”, Mihai Manole, executive manager...

Romania's leasing market shrinks 2% in 2008
4 Martie 2009
The nine-month results last year showed a 29.7 percent year-on-year hike to 4.296 billion euros, but in the last quarter the leasing market plunged 60 percent versus the third one, from 1.336 billion euros to 537.4 million euros. The leasing...

CEC Bank reports annual profit fivefold lower than BCR
4 Martie 2009
The result is roughly fivefold higher than a year earlier, the growth being driven mainly by the sale of stake in Asiban. The French-based insurer, Groupama paid last year about 350 mln euros to the four banking giants – CEC, BCR, BRD-SocGen...

Vienna Insurance Group plans to slash spending by 100 mln euros
4 Martie 2009
The Romanian group companies of the Vienna Insurance Group has significantly strengthened the market position of the Vienna Insurance Group in Romania in 2008 with preliminary premiums of EUR 612.98 million, reads the preliminary report made public by...

How did top three low-fare airlines do in January?
4 Martie 2009
In January 2008, the three operators carried 143,600 passengers from and to Romania. The 41% increase in traffic for low-fare operators mentioned above highlight the passengers’ shift of travel choices to low-cost carriers in order to reduce the...

Romanian economy hiked 7.1% in 2008. A mere 2.9% advance in Q4
5 Martie 2009
The gross domestic product stood at 159.43 bln lei (41.8 bln euros) in fourth quarter 2008 and at 503.959 bln lei (136.8 bln euros) in the whole year 2008. [Update] National Institute of Statistics has revised upward the data on the value of...

GDP growth tops estimates, spurring stock rally
5 Martie 2009
In early trades, the liquidity of the BSE’s regulated market was taking a mild bullish trend, rising up to 938,911 lei (218,625 euros), compared to yesterday’s trading debut, when the liquidity stood at 722,700 lei (168,100 euros). BET...

Raiffeisen Bank Romania reports record annual profit, up 75.6%
5 Martie 2009
Profit before taxes stood at roughly 196 million euros, versus 116 million euros a year earlier. The bank’s total assets increased to 4.56 bln euros, increasing by a wide margin from 4.4 bln euros reported in December 2007. Loans to...

Isarescu: All economic growth projections will be revised, Romania is not secluded
5 Martie 2009
“The crisis effects are severe. All economic projections will be revised downward worldwide, and Romania cannot remain detached from the outside events, yet with its particularities”, said Isarescu at a roundtable on global financial crisis...

Romanian leu rises to 4.29 versus the euro in early trades
5 Martie 2009
Banks were buying a euro with 4.2910 lei and selling it for 4.2960 lei at 10:30 a.m. In the region, the neighbor currencies advanced significantly today. The Hungarian forint upped from 308.55 to 306.68 versus the euro and the Polish zloty hiked...

Orange Romania reports 1.31bn revenues for 2008
5 Martie 2009
The company reported a 10,335,000-client database at the end of last year, 6 percent up from prior-year period. The average annual revenue per user was of 119 euros. The lion’s share of the growth was driven by the number of broadband...

Drive-by-download components dominate February’s list of top ten e-threats
5 Martie 2009
In first position for the second time this year - but in a much shorter lead than last month - is Norton-bypassing ad-serving malware, Trojan.Clicker.CM that uses several functions that bypass the Norton Internet Security Pop-up Blocker. Clicker.CM...

Raiffeisen Bank scales back recruitment drive
5 Martie 2009
“If in 2008, nearly 100 persons would leave the bank and we hired 200 persons instead, the staff will now decrease naturally by 30-40 persons. In January and February, we slowed down recruitment, however, the departure still outpaces hire of...

Bucharest – two notches down in top of most expensive office-space locations across the world
5 Martie 2009
For the first time in nine years, London was knocked from top spot, now taking up the third position. Thus, the rents fell 23% in West End, down to a median of 1.404 euros/sqm/year or 117 euros/month. The rents fell 19% in Tokyo in 2008, down to 1.649...

Romania, Austrian banks’ bonanza
5 Martie 2009
If in 2007, Austrian banks active in Romanian market reported a combined profit of about 395 million euros, last year, the lenders posted a roughly double income driven by operations in domestic market. Austrian banks active in Romania are: Banca...

World’s 50 safest banks: only three run operations in Romania
6 Martie 2009
The hierarchy was made based on a comparison of the long-term credit ratings and total assets of the world’s 500 largest banks across the world. The publication took into account the ratings established by Standard&Poor’s, Moody’s...

Basescu’s prediction: 1.5%-2% economic growth in 2009
6 Martie 2009
“In spite of the massive slowdown of Romania’s economic growth, I remain optimistic, contrary to all somber estimations indicating it will turn negative”, said the president. He added that the economic growth Romania would run this...

The exchange rate climbs to 4.28 lei per euro after short momentum of leu in early trades
6 Martie 2009
The euro stood this morning at 4.2870 lei but after the rate inched down to 4.2690 lei per euro, the leu started to descend. At 10:55 a.m., banks were buying a euro for 4.2785 lei and selling it for 4.2835 lei. “The market is rougher than...

Alexandrescu, AIG: Insurance market will slide into idleness in 2009
6 Martie 2009
“Life insurance market will stagnate in 2009, but AIG will outperform the market. We will everything possible to defend our leading position in guaranteed life insurance market,” said Alexandrescu. Thus, AIG Life Insurance Romania...

Deutsche Telekom to release blueprint for Romanian market
6 Martie 2009
The media briefing will take place at Deutsche Telekom’s headquarters in Bonn, Germany. Deutsche Telekom had acquired a stake in OTE group that currently controls Romtelecom, Cosmote and Germanos. The official invitation at the talks...

Romania's economic growth ranked fourth in the EU in Q4 2008
6 Martie 2009
The first three positions were taken by Bulgaria, with the gross domestic product (GDP) leaping forward by 3.6 percent, Poland, with 3.1 percent and Cyprus with 3 percent. Latvia, Estonia and Sweden experienced the steepest falls, of 10.5 percent,...

JP Morgan: BNR defends leu below 4 units/euro threshold
9 Martie 2009
“BNR defends the leu below 4 units/euro, but the banking regulator has recently stopped to intervene in order to maintain the currency exchange rate at this psychological threshold. The leu’s sharp depreciation impacted borrowers of foreign...

AFI Europe: The government encourages developers to deliver substandard projects
9 Martie 2009
The ordinance is good, but calls for improvement “The ordinance that sets forth a 5% VAT for housing units priced below 100,000 euros is good, but it could have been better, better structured. For example, for the first 100,000 euros to be...

Romania's leu sinks to 4.29 versus the euro in early trades
6 Martie 2009
At 11:00 a.m. banks bought the euro with 4.2850 lei and sold it for 4.29 lei. Currencies in the region also depreciated. The Hungarian forint lost ground from 314.31 to a new historic low of 317.10 versus the euro while the Polish zloty decreased...

Web traffic ranking for top business online publication in February: Wall-Street keeps leading position for the sixth successive month
9 Martie 2009
Wall-Street attracted in February 883,411 unique visitors, 143,133 more than in January, 1,518,501 total sessions (+128,542) and 3,294,727 views (+87,498). Furthermore, the website edited by InternetCorp. totaled a unique audience 37% higher than...

Romanian second pillar-pension market increases assets by 13.36%
9 Martie 2009
The 14 pension funds on Pillar II counted at the end of February on 4,174,368 participants, 74,418 more than in January. The biggest rise in assets, of 15.49 percent, was reported by the fund administered by BCR Fond de Pensii, while the smallest...

Riff Holding talks merger with two advisory firms
9 Martie 2009
“We are talking merger with two other advisors in financial services. If the marriage is not concluded this year, the talks will be abandoned”, Stancescu added. The head of Riff Holding refused to disclose the name of the two companies,...

KPMG: Internal procurement’s full potential remains unrealized by the business
9 Martie 2009
Three-quarters of senior procurement executives believe their business understands the importance of procurement issues, according to data prepared by the Economist Intelligence Unit. However, 54 percent feel misunderstood by their own organization....

Isarescu: Lending in Romania to unlock this spring
9 Martie 2009
However, he pointed that if lending had continued to accelerate as in the past years, Romanians would be swimming in debts in a couple of years, NewsIn states. “Paradoxically, the financial crisis has positive effects on Romania,” Isarescu...

Romanian leu slides to 4.2939 against euro at the reference exchange rate
9 Martie 2009
BNR posted a reference exchange rate of 4.2903 lei per euro in the previous session. The national currency climbed from 4.2950 to 4.2770 per euro in early morning trades but then dipped to 4.29, replicating the regional trend. At 11:00 a.m.,...

The different approach of retailers in the heat of financial crisis
10 Martie 2009
‘Tenants have a higher bargaining power’ Carmen Rusu, Retail Consultant at real estate advisory firm King Sturge said the retailers had been more prudent when choosing locations. They actually step back to take a hard look at the...

Average net income falls to 320 euros in January
10 Martie 2009
Romanians earned 1,355 lei (320 euros) as average net income in January this year, a 9 percent slip over December, on lack of holidays bonuses, the country’s Statistics Institute (INS) said, NewsIn informs. The annual growth rate tempered at...

Stolojan: In default of external finance, Romania would experience a rerun of ’97-2000 crisis
10 Martie 2009
The former prime minister said PSD knew perfectly well that Romania was in need of external finance, suggesting that in fact, this solution could be avoided only with high costs. “PSD and PDL are aware that Romania needs external finance and that...

Societe Generale buys BRD stocks of 78,700 euros
10 Martie 2009
The trade was concluded at an average price of 4.41 lei/share, up 3.86% from Friday’s closing quotation. BRD SocGen has a share capital of 696.6 mln lei, divided to 696.9 mln shares at a nominal value of 1 leu. The bank’s...

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