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

2009’s key moments in media industry
5 Ianuarie 2010
Romanian media and advertising market is going into 2010 without several major newspaper titles, and with a lower value, but with firm growth prospects from dynamic sectors, such as internet and film industry.

RNSC puts off Flamingo bonds plans
5 Ianuarie 2010
The company’s €7 million capital hike should end on January 12, a measure aimed at reviving sales that nearly halved in the nine months through September 2009 and pushed it into insolvency in early December. Romania’s third largest...

Petrom raises fuel retail prices
5 Ianuarie 2010
The reference price for Premium gasoline is now 4.04 lei/liter, for Top Premium 99+ is 4.41lei/liter and OMV Carrera 95 is 4.18 lei/liter, while for OMV Carrera 100 is 4.81 lei/liter. Top Nordic Diesel costs 3.97 lei/liter, OMV Sprint Diesel...

Azomures sells Dubai subsidiary for $400K
5 Ianuarie 2010
The buyer of the company set up in Dubai Multi Commodities Center was Sabri Erzin Atach, manager of Acta Fertilizers. The fertilizer producer informed the market on the creation of its subsidiary in March 2008 and on the intention to sell the stocks...

Ministry of Finance hopes to raise 4bln lei in T-bill offering
5 Ianuarie 2010
The Ministry announced the launch of three issuing of T-bills (usually sold at a discount from the par amount) at a face value of 1 bln lei, with 6 or 12 months maturity. The first T-bill offering is scheduled for January 11, the next on January 18 and...

NBR’s reserves drop 1.5% in December
5 Ianuarie 2010
The central bank showed monthly inflow of €2.761 billion, representing changes in the foreign exchange reserve requirements of the credit institutions, inflows in the Ministry of Finance accounts, inflows into the European Commission account,...

Midday Forex: Leu gains modestly against euro
5 Ianuarie 2010
In the last day of 2009, the central bank set a reference rate of 4.2282lei against euro. In the morning, the leu inched up from 4.24 to below 4.22 versus euro. The RON/EUR rate then harked back to 4.23. At 13:05, the banks were buying a euro for...

Ringier names chief executive for Central European operations
5 Ianuarie 2010
Ringier Central Europe is a newly created division of the group that puts operations in Hungary, Romania, Czech Republic, Slovakia and Serbia under one roof. With this, Ringier is strengthening its brands consistently and expanding them into digital...

Is art a profit-making machine?
6 Ianuarie 2010
The demand for fine art masterpieces in Romania grew in 2009, as cash-rich investors took a different stance toward art, and saw it as a long-term profit-making machine. Representatives of Artmark fine art auction house told Wall-Street that the...

Producer price index picks up in November
6 Ianuarie 2010
Producer prices of manufactured goods recorded the first annual decrease in June, by 0.03%. In August, producer prices fell 1.13%, in September 1.2% and in October 0.66%. In May, producer prices increased by 1.4% year-on-year. Broken down by sectors,...

KD Life Insurances hikes capital by 6pc
6 Ianuarie 2010
Prior to the capital hike, KD Life’s equity was around 38.48 million lei. The move will raise KD Group’s exposure to the local company to 95.1202%. KD Zivljenje holds 4.8798% stake. KD Life Insurance SA has received authorization for...

Volksbank certificates with guaranteed principal registered into RoClear
6 Ianuarie 2010
The certificates have as active support the share basket issued by Verbund, Voestalpine, OMV and Telekom Austria and are mature on December 30, 2012. The issue value is €2 million and certificates are available for trading at the Wiener Börse...

Guy Poupet, BRD’s new CEO gets central bank OK
6 Ianuarie 2010
Guy Popuet (photo) aged 57 has been with the French-based Société Générale since 1975, and began his career as an inspector. Since 1983 he has had several management roles at the bank’s subsidiaries in Argentina,...

NBR cuts main interest rate by 0.5pc
6 Ianuarie 2010
The central bank has reaffirmed its commitment to actively manage the liquidity in the banking system, so as to ensure the fulfillment of its objectives of achieving and maintaining price stability in the medium term as well as financial stability. In...

Midday Forex: Leu remains bullish against euro
6 Ianuarie 2010
On Monday, the National Bank of Romania set a reference rate of 4.2265lei/euro. The national currency inched up from 4.22 to 4.20 against euro in the morning trade, but fell back to 4.21lei/euro. At 13:30, banks were buying a euro for 4.2050 lei and...

Health minister considers tax on fast-food
6 Ianuarie 2010
“The new tax would be levied on sales at fast-food restaurants, and this could help us fund health programs underway and investments in the system’s infrastructure,” said Attila Cseke (photo) , ministry of health. Food and Nutrition...

Hyposwiss’ holdings in SIF3 and SIF5 top 2%
6 Ianuarie 2010
The holdings have not been disclosed to the capital markets through filing reports with the BSE. Under the provisions of the legislation in force, an investor can not hold more than 1% in a financial investment company, and should the equity holding...

Rompetrol raises fuel prices by 0.05lei/liter
6 Ianuarie 2010
Efix 95 gasoline is now priced at 4.24lei/liter while Alto 101 costs 4.85lei/liter. EFIX diesel fuel is now 4.06lei/liter, and ALTO 55 - 4.35lei/liter. Fuel prices in Rompetrol Downstream filling stations can vary by +/-5% from the reference prices....

BRD and Raiffeisen Capital&Investment join BSE futures exchange
6 Ianuarie 2010
At the end of December 2008, Bucharest Clearing House granted the status of individual clearing member to the BCH clearing settlement system. “The start of the trading activity in the futures exchange of the top participants at BSE trading...

BET index closes 3.7% higher
6 Ianuarie 2010
Today’s trading volume at the Bucharest Stock Exchange grew markedly to 15.96 million lei (€3.79 million), from Monday when it stood at 6.64 million lei. BET index that gauges the performance of the ten most liquid stocks at the BSE jumped...

Health Ministry set to raise drug prices
7 Ianuarie 2010
“For a comparative analysis, the conversion of producer prices from other currencies in lei will be carried by taking the exchange rate used in budget planning for 2010,” reads the order issued by the Ministry of Health. Drug prices are...

Petrom acquires Kazakh Korned LLP
7 Ianuarie 2010
“Korned LLP holds 100% interests in an exploration license including the undeveloped Kultuk oilfield, located onshore in the Pre-Caspian Basin, 34 km to the North-West of Petrom’s Komsomolskoe Field. The sale & purchase agreement was...

Romania’s jobless rate up to 6.8%
7 Ianuarie 2010
Unemployment rate in Jul-Sep period calculated based on the international labor standards stood at 1.4% above year-ago levels. The difference between unemployment rates for women and men was 1.7% (7.6% for men and 5.9% for women). Jobless rate in the...

Top 10 best-selling SUVs in Romania
7 Ianuarie 2010
The year 2009 has seen a decline across all car classes. However, the sales of sport utility vehicles fell by only 44% in the 11-month period through November 2009, to 9.274 cars.

Companies to spend 10-15% more on corporate gifts in 2010
7 Ianuarie 2010
According to a survey conducted by Basis&Basis Romania, 60% of the companies in Romania didn’t allocate money on this segment, against a mere 40%. Corporate gift budget varied between €100,000 and €500,000. 60% of the companies...

Process and energy stocks poised for growth in 2010
7 Ianuarie 2010
Among the sectors with growth prospects at the stock market are the process industry (companies with high share of exports in their turnover, electric components, packaging, aluminum, food industry and fertilizers). Energy stocks are also poised for...

Gherghina, MinFin: Economy contracted 7% in 2009
7 Ianuarie 2010
“The preliminary data suggest that the economy has contracted at an annual rate of 7%, while the budget deficit has been successfully contained within the 7.3% target range,” said Gherghina. “For 2010, we will work on the assumptions...

Midday Forex: Leu touches 7-month high against euro
7 Ianuarie 2010
The leu rose to the highest level versus euro since May 19, 2009, when the central bank posted a reference rate of 4.1548 lei/euro. Yesterday, the RON/EUR rate stood at 4.2077lei/euro. The national currency climbed from 4.1850 to 4.15 in the morning...

Raiffeisen Leasing appoints new chief executive
7 Ianuarie 2010
Mihaela Mateescu has been promoted as chief executive in 2006. Felix Daniliuc (photo) , former deputy CEO brings an 18-year experience in banking, in sectors such as trade finance, custody, cash management, retail banking, direct sales and branch...

BET index closes near 2009 highs
7 Ianuarie 2010
The trading volumes at the Bucharest Stock Exchange shrank sharply today to 10.84 million lei (€2.60 million), compared to 15.96 million yesterday (€3.79 million). BET index that gauges the performance of the ten most liquid stocks at BSE...

Over 3,000 social workers will lose their jobs in 2010
8 Ianuarie 2010
He said at the end of the Government’s session on Wednesday that the regulatory document adopted by the Government sets forth the number of persons who work in child protection, persons with disabilities, elderly people. The 32,000 headcount will...

Retail sales remain under distress
8 Ianuarie 2010
Data don’t include sales of cars and motorcycles, and are adjusted by seasonality and number of business days. In gross series, retail sales dropped 9% year-on-year. In October, the first month of fourth quarter, retail sales decreased by a...

Raiffeisen Bank lends US agricultural importers
8 Ianuarie 2010
Importers and companies in soy processing sector can finance their acquisitions using letter of credits opened by Raiffeisen Bank. The maximum amount that can be allocated to the bank is $25 million with 3 year maturity. The repayment is made...

PwC: Outsourcing market expected to grow stronger
8 Ianuarie 2010
Outsourcing providers around the world predict that demand for their services is expanding rapidly, and they are adding staff and investing in new services to meet expected growth, according to a new survey from PricewaterhouseCoopers. The survey of...

Flanco relocates store to Sun Plaza
8 Ianuarie 2010
The new 2,000sqm Flanco World unit will become the flagship store of the chain, and provides the company the opportunity to relocate its Baneasa store in a location with more walk-by traffic. The company will close its Baneasa store this week....

Banca Transilvania in tie up with Oracle and Trend Import-Export
8 Ianuarie 2010
The bank said it will provide further details on the partnership in a media briefing scheduled for Tuesday, January 12. Banca Transilvania’s nine month profit slumped 87.8% year-on-year, to 48.27 million lei (€11.41 million).

Petrom unveils plan to buy back 10mn shares
8 Ianuarie 2010
The minimum bid price for each share will be 0.1 lei, and the maximum price 0.655 lei, the highest quote of the share until the date when the decision was passed. The shares will be purchased through the brokerage house UniCredit CAIB Securities...

Kraft forced to pull out Cadbury operations from Romania and Poland
8 Ianuarie 2010
"In view of the remedies offered, I am satisfied that the proposed takeover would not adversely affect competition anywhere in Europe and that consumers would not be worse off", said Neelie Kroes, EU Competition Commissioner. Kraft is a...

Midday Forex: Leu turns lower against euro
8 Ianuarie 2010
On Wednesday, the central bank set a reference rate of 4.1620lei/euro, the lowest since May 19,2009. The local currency had a strong start in the morning deals, but fell afterwards from 4.1530units/euro to 4.1750. At 13:40 banks were buying a euro for...

Arcelor Mittal pours €52 mn in the upgrade of furnace plant
8 Ianuarie 2010
The board of ArcelorMittal has approved the €52 million investment in the Furnace Plant 2 at Galati facility. The management described this announcement as very encouraging and important, which “reaffirms the Group’s commitment to keep...

BET index gains 1% at closing
8 Ianuarie 2010
The liquidity of the Bucharest Stock Exchange increased by 12% today to 12.13 million lei (€2.91 million), from yesterday’s 10.84 million lei. BET index that gauges the performance of the ten most liquid stocks at BSE edged up 0.97% to...

Eureko Asigurari raises capital by 6%
11 Ianuarie 2010
Prior to the capital hike, Eureko Asigurari’s common capital was around 153.18 million lei. Majority shareholder Eureko BV subscribed to the placement and paid around €2.1 million, the equivalent of 8.95 million lei, while Achmea Holding NV...

Gov’t disrupts reward program for farmers in 2010
11 Ianuarie 2010
“The program agreed in the accession treaty cannot be extended. The program has expired and there is no possibility to obtain derogation. We will try to replace the reward program that will be disrupted in 2010 with a new incentive scheme in line...

Transgaz earmarks 23 mn lei for pipeline rehabilitation
11 Ianuarie 2010
The selection criterion is the lowest price. The duration of the contract or the deadline for the completion of repair works is eight months. The deadline for submission of bids for the pipeline rehabilitation is February 15, 2010, 9:00 a.m. The...

Former Zimtub CEO divests stake in Flamboyant Ventures
11 Ianuarie 2010
Dragomir Stelian sold the 18% stake in Flamboyant which now is the largest shareholder of the company with 31.87% interest. Zimtub reported nine-month net profit of 217,125 lei (€51,300) in 2009 after major loss a year earlier, as revenues...

Vladescu: amendments that provide overhead expenses will not be passed
11 Ianuarie 2010
“We will review every amendment but those that provide additional expenses to state budget will not be passed, as far as I am concerned,” said Vladescu. He made a reference to the amendment that provides a reduction in social contributions...

Midday Forex: Leu picks up strength
11 Ianuarie 2010
Yesterday, the central bank set a reference rate of 4.1721 lei/euro. In the morning the leu traded near 4.1610 and 4.1710. Emerging currencies in the region traded with no clear direction in the morning. The Polish zloty wavered between 4.10 and...

Pro TV’s takeover of the Sport.ro channel, subject to Competition Council investigation
11 Ianuarie 2010
"Pro TV filed for a concentration in the wake of reorganization, which we accepted, but there are suspicions an unreported takeover seems to have been carried out in 2007", stated Bogdan Chiritoiu, president of the Competition Council....

Romania met 2009 budget deficit goals
11 Ianuarie 2010
“We will have the final data on the budget deficit on January 25, when we should have the final results, but preliminary data suggest a gap between 7.2% and 7.3% of GDP,” said Gherghina. Earlier this week, the state secretary with the...

Net average earning drops to €318. Lowest pay in HoReCa
12 Ianuarie 2010
In October, the net average earning rose 1.2% (16 lei) from September to 1,375 lei. The gross average earning fell 0.8% in November from a month earlier, to 1,866 lei (€435). “The real income index for November compared to previous month,...

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