Arhiva Wall-Street - luna Februarie 2010 - English-Version

Romanians, more optimistic about their economic situation
1 Februarie 2010
“Generally, people are more optimistic in December as they get into the Christmas spirit. However, December 2008 was the exception to the rule, as Romanians were testing the bitter taste of recession, and their concerns over how the global crisis...

Romania building permits fell 20% in 2009
1 Februarie 2010
The biggest declines were observed in Bucharest-Ilfov (-3015 permits), Center (-1974 permits), South-Muntenia (-1884) and North-East (-1797 permits). According to INS data, 3,509 construction permits were issued in December 2009, 1.3% more than...

AIG Romania renamed Chartis Romania
1 Februarie 2010
Last week, the Private Pension System Supervisory Commission (CSSPP) gave the green light to the rebranding of the company which was registered at the Trade Registry under its new name. Concurrent with its changeover from subsidiary to branch, AIG...

Midday Forex: EUR/RON drops 0.24%
1 Februarie 2010
For the US dollar, the reference exchange rate is 2.9509 lei/dollar, up modestly by 0.02% from yesterday.

Blue Air nudges ahead of Wizz Air with 1.71 mln passengers
1 Februarie 2010
After one year as the country’s top low-cost aviation company in Romania, Wizz Air gave up the top rank to its rival Blue Air. With 1.71 million passengers carried and €150 million turnover, Blue Air has narrowly defeated Wizz Air that...

EU unemployment rate up to record highs
1 Februarie 2010
For the euro area, this is the highest rate since August 1998. In December 2009, the unemployment rate in the European Union rose 2% from the same period of 2008, and in the euro area 1.8% YoY. Eurostat estimates that 23.012 million men and women in...

BSE stocks finish week mixed
1 Februarie 2010
Stock transactions totaled 24.34 million lei (€5.9 million) on Friday, while state securities generated a liquidity of 26.2 million lei. BET index that gauges the performance of the ten most actively traded stocks at BSE shed 0.45% to 5,065.43...

TotalSoft appoints Daniel Ionescu as strategy director
2 Februarie 2010
Talks between Ionescu and Liviu Dragan, managing director and shareholder of 20% interest in TotalSoft began at the end of last year, and since mid-December, the former manager of BitDefender joined the software company. According to the social...

Coca-Cola spent €1 million on staff training in 2009
2 Februarie 2010
“To internal and external training programs, we allocated €1 million last year. However, the training budget will be slightly lower in 2010”, said Popovici. In order to provide training courses across the board, the company works with...

Mobexpert’s 2009 sales fell far short of estimates
2 Februarie 2010
The company had expected a 10% drop in sales for 2009. If in 2008 new products accounted for 20% of total sales, in 2009, the share increased to 35%. The company’s resources focused on collection renewal, creation and design, twice the size of...

Midday Forex: EUR/RON breaks through the 4.1 barrier
2 Februarie 2010
The leu touched 4.0805 lei today, the most since January 7, 2009, when the central bank set a reference rate of 4.0720 lei/euro. On Friday, NBR set a reference rate of 4.1220 lei/euro. For the US dollar, the central bank set a rate of 2.9358 lei/US...

Omnilogic launches cloud computing solution
2 Februarie 2010
OmniVServ doesn't involve additional investments in end-user’s infrastructure, but along with the constant cutting-edge technology and maximum data security, it also provides 24x7x365 availability and last, but not least, additional on-demand...

Nokia Siemens takes another step in the introduction of LTE
2 Februarie 2010
“LTE is the super-fast mobile broadband technology that we are able to deliver today. It helps operators address the challenge of growing data traffic. We’re driving the introduction of LTE through our collaboration with leading device...

Heineken’s marketing exec at the helm of Strauss
2 Februarie 2010
Heineken representatives confirmed the departure of Marius Melesteu, and will make an official announcement in the coming period. Contacted by Wall-Street, Paul Markovits (photo) refused to comment on the appointment. Strauss representatives could...

Hewlett-Packard to hire 600 staff in 2010
2 Februarie 2010
The news came after Alcatel-Lucent announced it would hire 200 at its Timisoara unit. “GeBOC plans to boost its team by attracting students and young graduates and also young people with 1-2 year experience. Our recruitment plan will focus on...

Financial investment companies jump 4%
2 Februarie 2010
The liquidity at the Bucharest Stock Exchange increased to 22.47 million lei (€5.51 million), while bond transactions totaled 16.31 million lei. “What holds the market up is the equity holding limit at FICs, given the buying spree today. I...

Banca Transilvania opens earnings season
3 Februarie 2010
The bank’s after-tax profit fell six times last year, even if operating revenues jumped 27% year-on-year to 1.29 billion lei, according to preliminary results filed to the Bucharest Stock Exchange. “We have realized the gross profit...

Renault to unveil the new coupé-roadster Wind
3 Februarie 2010
The powertrain lineup will feature two diesel engines with 1.6 liter that puts out 133 HP and reaches 100 km/h in 9 seconds, and with 1.2 liters that produces 100HP. The car is likely to come with a price tag of €19,400. Renault Wind is a...

Valvis borrows €9 mln from BCR
3 Februarie 2010
Jean Valvis (photo) started in September the construction of a Greenfield project, 20km away from Vatra Dornei, where the new mineral water brand Aqua Carpatica will be produced. The facility will have an annual production capacity of 100 bottles and...

ING expects NBR to cut rate by 75 basis points
3 Februarie 2010
“We were expecting a 50 basis points of rate cut, but now we think the central bank could slash the main rate by 75 basis points in a surprise move to the markets. As for reserve requirements, the policymakers are likely to leave statutory ratios...

Midday Forex: Leu gives up gains against euro on massive sell-off
3 Februarie 2010
On Monday, the National Bank of Romania set a reference rate of 4.0805 lei against euro. “The leu opened higher today, and inched to 4.0730 against its European counterpart, but fell afterwards to 4.0925 -4.0950. It is a regional correction...

Syscom Digital makes leap into Moldova
3 Februarie 2010
“We plan to expand our reach in other countries as well. Maia Moldovan (photo), the chief executive of Syscom Digital has decided to open a branch in Moldova in order to better serve the clients of Bucharest office that manage accounts from...

ALD Automotive increases fleet by 800 vehicles
3 Februarie 2010
“At the end of 2009, ALD Automotive had 5,147 vehicles under management for 223 customers. We expect our fleet to increase to 6,000 vehicles by end-February”, said Vincent Kneppert, chief executive of ALD Automotive. The vehicle leasing...

Top best-selling luxury cars in 2009
4 Februarie 2010
Luxury car sales fell 56% to 4,234 vehicles last year, from 9,554 in 2008. However, many of the nameplates in 2008 top 10 list have remained the best-selling luxury cars through the 12 months ending December 31.

Romania and Azerbaijan sign energy partnership memorandum of understanding
4 Februarie 2010
“The Memorandum is an extension of our strategic partnership and provides a political framework for reinforcing energy relations between the two countries. The next days, we will sign a similar Memorandum with Georgia”, said Corneliu...

NBR cuts main rate to 7%
4 Februarie 2010
BNR decided to leave reserve requirements unchanged, both for leu and forex-denominated liabilities. The 50 economists with the Association of Financial-Banking Analysts in Romania had expected the central bank to slash the benchmark lending rate to...

Dacia Duster takes second place in the Trophée Andros
4 Februarie 2010
The winter series brought it three wins, as well as second place in the final standings with Alain Prost. The French racing driver says the popularity of Dacia has been boosted by the presence of the competition version of Dacia Duster in the...

LukOil Romania reports 38% decline in revenues
4 Februarie 2010
“Revenues and EBITDA (earnings before interests, taxes, depreciation and amortization) fell 38% in 2009 from a year earlier due to crude oil price drop. EBITDA’s drop of $25 million reflects currency exchange movements”, said Tampiza,...

Retail trade shrank 6.1% in December
4 Februarie 2010
Data don’t factor in vehicle or motorcycle sales and are adjusted by seasonality and working days. In gross series, retail trade turnover fell 8.5% from December 2008. In November, retail trade shrank by a seasonally-adjusted annual rate of 9%....

APT Resources&Services promotes CFO to CEO
4 Februarie 2010
In her new role, Donisa will be responsible for the strategic planning, resource management and will oversee the company’s current operations. Sorina Donisa graduated the West University of Timisoara and is member of the Romanian Chamber of...

Tarom flies to Riga as of March
4 Februarie 2010
The airline will operate four round-trip flights per week from Bucharest to Riga on Mondays, Wednesdays, Fridays and Sundays with a Boeing 737 aircraft. The flight time is around 2 hours and 15 minutes. “The flight schedule for...

Midday Forex: Leu loses ground
4 Februarie 2010
For the US dollar, the reference exchange rate set by the central bank is 2.9257 lei/dollar, down 0.25% from yesterday.

One in two companies in Romania plan to hire managers and professionals in 2010
4 Februarie 2010
With 55% hiring level, Romania takes up eight spot in Europe, in a tie with France. The biggest current hiring levels amongst European countries were in Switzerland (64%), Austria (58%) and Luxembourg (58%). At the opposite site is Hungary with 28%...

Ex-A&D Pharma director takes CFO role at Euromedia and Beta Cons
4 Februarie 2010
With over nine years of experience in the field, Claudiu Manolescu will coordinate the support departments of Euromedia and Beta Cons: financial, legal, IT, HR and administrative. Monica Magureanu will continue in her role of Chief Executive Officer,...

BSE stocks post modest gains at closing
4 Februarie 2010
The liquidity at the stock market increased to 43.86 million lei (€10.73 million), by 18% from yesterday’s level of 37.29 million lei (€9.14 million). “We’ve seen a quieter trading today compared to yesterday, and many...

Vodafone Romania posts 23.8% drop in revenues
5 Februarie 2010
The company’s customer base reached 9.663,000 at the end of last year, compared to 9.535 million in September and 9.649 million at the end of 2008. Vodafone added 128,000 customers in the fourth quarter of 2009 for a total of 9.663 million...

Bespoke analyses will add 10-15% to Media Image’s turnover in 2010
5 Februarie 2010
Media Image has recently joined AMEC - International Association for Measurement and Evaluation of Communication, the global trade body and professional institute for agencies and practitioners who provide media evaluation and communication research....

2010, the year European countries embrace the deficit challenge
5 Februarie 2010
The steps taken by the governments to respond to the global economic downturn with taxation measures focused on raising state revenues to head off a further deepening of the budget gaps. In Romania, the deficit-closing measures lacked effectiveness and...

12% drop in sales for Coca-Cola Romania
5 Februarie 2010
Coca-Cola HBC’s sales in Romania amounted to €500 million in 2009, after 15.1% growth a year earlier. Coca-Cola HBC reported a turnover at 2008 level, namely 2 billion lei profit (€551 million), and an after-tax profit of 243,723,975...

Midday Forex: Leu remains weak
5 Februarie 2010
Yesterday, the National Bank of Romania set a reference rate of 4.0964 lei/euro. “The leu dropped markedly today, but it seemed to have been a regional trend. Anyway, the cut in the monetary policy rate made leu placements less...

Erste: CEE pharma stocks to regain momentum in 2010
5 Februarie 2010
“Going forward, their defensive nature will play both for and against CEE pharma stocks. For 1Q10, the sentiment is foreseen to favor cyclicals, with investments in pharma titles to be sidelined. However, as economic conditions remain fragile and...

Anti-ballistic interceptors in Romania
5 Februarie 2010
Placing the anti-ballistic interceptors as part of the US missile shield confirms the mutual confidence between USA and Romania, Romania’s president Traian Basescu said. He stressed that the decision made by the Supreme Defense Council was in...

BET index moves 1.68% lower at closing
5 Februarie 2010
The liquidity at the stock market dropped slightly today, to 36.53 million lei (€8.86 million) from yesterday’s level of 43.86 million lei (€10.73 million). The liquidity was propped up by the 10 million Zentiva stocks deal of 7...

Fitch revises BCR, BRD, UniCredit and Banca Romaneasca’s outlook to stable
5 Februarie 2010
The ratings of the four Romanian banks reflect the institutional support from their parent companies and are limited by the Romania’s ‘BBB’ country ceiling. “The long-term issuer default rating and Support ratings of the...

Top bargain winter packages
8 Februarie 2010
February can be one of the best months to hit the slopes and enjoy the last days of snow. Travel agencies are offering bargain value winter trips 10% - 40% below mid-winter fares. Lodging prices can be as low as €15 for the ski resorts in Bulgaria...

KD Group denies bankruptcy rumours
8 Februarie 2010
“Continuing activity in Romania involves first of all a significant capital contribution for an insurance market relatively small and, therefore, the company wants to redirect its capital toward the markets where the activity is...

NBR lifts inflation forecasts from 2.6% to 3.5%
8 Februarie 2010
Isarescu stressed that the central bank’s inflation forecast for 2011 was 2.7%, and that the target for next year was 3% with +/-1 tolerance band. The governor added that a narrower currency fluctuation would help the economy. “The...

Renault Megane CC on sale since March 2010
8 Februarie 2010
New Mégane Coupé-Cabriolet is manufactured alongside Scénic and Grand Scénic at Renault's Douai plant in France. The petrol option comes in three variants: 1.6 16V 110HP, TCe 130 HP and 2.0 16V 140HP, while the diesel...

S&P rates RDS&RCS' proposed $200 million bond issue ‘B’
8 Februarie 2010
"The rating on RCS & RDS is constrained by our view of increasing competition in its core markets of operation, Romania and Hungary, as market players are focused on competing on bundled offers to attract customers," said Standard &...

Midday Forex: Leu trades lower against euro
8 Februarie 2010
The central bank set a reference rate of 4.1397 lei against euro, 2% higher than Thursday’s level of 4.1214. The leu hasn’t been that weak since January 21, when NBR set a rate of 4.1440lei/euro. “The suffered a minor drop today...

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