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

Romania's finance minister assures the VAT will not increase
3 Mai 2010
He also mentioned the projection on the gross domestic product (GDP) advance for the end of the year still stands at 0.8 percent, NewsIn states. IMF expects Romania to record the best economic performance in Europe next year, with a 5.1 percent...

BCR's assets slip 2.4% in Q1, to LEI 62.97bn
3 Mai 2010
The loans granted to clients (before provisions) diminished 1.2 percent in the first quarter, to 45.97 billion lei, from 46.53 billion lei in the same period of 2009. BCR granted credits through the Prima Casa governmental program worth more than 315...

The national currency climbs slightly
3 Mai 2010
The lender settled an exchange rate of 4.1380 lei per euro on Thursday. The national currency advanced gradually at debut, from 4.1340 to 4.1270 per euro, and at 1:05 p.m. the euro was traded for 4.1290 lei, NewsIn states. In the region, the Polish...

BRD’s Q1 profit slips 5%
4 Mai 2010
“The performance of BRD-Groupe Societe Generale in the first quarter reflects the poor economic activity and the sharp decline in banking products and services demand”, the bank said in its report. The net banking income rose 12% in...

Top stock brokers at Sibex
4 Mai 2010
Tradeville lost its March leading position and fell to the second, with 39,293 contracts handled, followed by Broker Cluj with 27,117 futures contracts. Estinvest fell from second to fourth in April, with 25,014 contracts handled. Rounding up the top...

GED buys Romania’s largest printing company
4 Mai 2010
The deal is expected to complete in the second quarter 2010 further to clearance from the Competition Council. Biris Goran's legal team was composed of Christian Mîndru (of counsel) and Catalin Oroviceanu (senior associate). “I am...

CEC Bank eliminates early repayment fee
4 Mai 2010
“The move is aimed at lining up our commission policy to the provisions set forth by the 2008/48/EC Directive of the European Parliament and of the Council, that are to be included in the Romanian legislation”, the bank said in a press...

Central bank’s coffers swell to record high, after loan disbursement
4 Mai 2010
In March, the European Commission unlocked the €1 billion loan tranche under the aid deal with Romania. Still in March, Romania issued €1billion bonds with five-year maturity at a coupon rate of 5%. In February, Romania’s currency...

Citibank appoints new Country Officer for Romania
4 Mai 2010
Pandi will succeed Shahmir Khaliq, who was named head of the division formed of Bulgaria Czech, Romania and Slovakia and chief executive of Citibank Czech. Tibor Pandi (photo) , 41, has over 15-year experience in the banking industry. Prior to the...

Midday Forex: Leu grows mildly against euro
4 Mai 2010
On Friday, the central bank set a reference rate of 4.1276 lei/euro. The leu traded near 4.1280 units/euro level in the morning and at 13:15, a euro was 4.1282 lei. In the region the Polish zloty opened higher against its European counterpart at...

Dacia Black Line edition launched in Romania
4 Mai 2010
Pricing for the limited edition has not been revealed yet. In France, the new Black Line edition was more expensive than the rest of the trim levels, the price difference from a Sandero Laureate being €300, and from a Logan MCV Laureate...

Lack of skilled labor wastes 15% of a real estate project’s costs
4 Mai 2010
A significant amount of projects are suffering of lack of quality, delays and cost-overruns, which is due to the absence of best practice approaches and standards to efficiently manage the development process from inception to completion. “One...

Ministry of Communication to sign Memorandum for eCall
4 Mai 2010
Romania will sign the Memorandum together with Malta, Poland, Belgium, Denmark and Luxembourg. Romania is among EU countries with the highest traffic accidents rate. “The signing of the Memorandum confirms the Government’s need of...

Adevarul Holding names Peter Frank as marketing director
4 Mai 2010
“Peter Frank’s valuable expertise in the media, both in the marketing and editorial segments, and his experience in U.S. media were the main factors that determined me to propose him for the role”, said Imre. Frank worked as...

BSE stocks lose traction, BET skids 1.40%
4 Mai 2010
BET index that gauges the performance of ten most actively traded stocks at BSE shed 1.40% to 5,647.46 points, while composite BET-C dropped 1.05% to 3,398.76 points. BET-FI index of the five financial investment companies (BSE:SIF) dropped 1.38% to...

Wolf Theiss advised Bog’Art on agreement with UniCredit Tiriac Bank
5 Mai 2010
Unicredit’s new head office with a total area of 15,000 sqm on 14 floors will be completed in the first half of 2012. The relocation will increase the bank’s operational efficiency at a central level. “This was a complex deal that...

Dust off the legendary tobacco brand, Carpati
5 Mai 2010
A short intro to a 113-year-long history The history of the Cigarette Factory in Sfantu Gheorghe, the largest city and county seat of Covasna, goes back to November 18, 1897. At that time, the plant was operating in the building where the City Hall...

Top 10 best performing stocks at BSE in April
5 Mai 2010
Stocks at Bucharest Stock Exchange came under extreme pressure in April, as a raft of economic news pushed the market’s most traded stocks sharply lower. However, there have been companies faring much better amid a distressed environment....

Fitch revises Oradea’s outlook to stable
5 Mai 2010
The city’s foreign currency short-term rating has been also affirmed at ‘B’. The revision in outlook reflects a similar rating action taken on Romania’s outlooks. The ratings reflect Oradea’s economic potential due to its...

NBR cuts key interest rate to record low
5 Mai 2010
In its fourth rate-setting session of 2010, the policy-making committee of the central bank decided to continue its series of gradual rate cuts. In January, the central bank lowered key rate from 8% to 7.5%, to 7% in February and to 6.50% in March....

GED provides €20-25 million to expand reach into Romania
5 Mai 2010
The private equity fund may invest in businesses across IT&C, energy efficiency, and medical services sectors, which GED expects to achieve a sustainable recovery in the coming 3-5 years. GED’s following investments will be made through its...

Midday Forex: Leu follows peers lower against euro
5 Mai 2010
Yesterday, the central bank set a reference rate of 4.1275 lei/euro. EUR/RON rate increased from 4.1275 to 4.1380 in the early trades, and fell to 4.1340 at noon. In the region, the Polish zloty fell against its European counterpart from 3.9184 to...

BSE stocks fall sharply on IMF review
5 Mai 2010
The liquidity at the equity market doubled to 51.89 million lei (€12.55 million), propped up by a 15.86 million lei deal with 7% of Banca Carpatica’s equity. BET index that gauges the performance of ten most actively traded stocks at BSE...

Romania suspends flights to Thessaloniki
6 Mai 2010
Internal flights and rail operations have also been suspended. The route Thessaloniki-Bucharest will be suspended on May 4-5 and May 5-6. Transport and trade operations in the region have been suspended after the country got hit by a general strike...

Dacia announces pricing for Black Line limited edition
6 Mai 2010
The three models come with radio-CD MP3 with steering wheel-mounted fingertip remote control, bew black upholstery, leather trimmed steering wheel, chrome upper grille trim, aluminum rims as standard. Gris Silex Chrome dashboard and black front...

IMF: Romania’s fiscal crisis will get worse
6 Mai 2010
He added that the institution was taking into account a number of solutions of boosting state budget revenues, but warned that tax increase is not yet an option, NewsIn informed quoting The Money Channel. He stressed that the news appeared in the...

CME’s first-quarter revenues up 5%
6 Mai 2010
The broadcaster’s net loss cut its loss by $2 million to $42.3 million. The first-quarter results include Media Pro Entertainment business bought by CME from Adrian Sarbu in December 2009. CME’s operations in Romania (Pro TV SA that...

Things you should know before buying an apartment
6 Mai 2010
When buying a home, the buyer has the right of requesting a detailed inspection of the apartment. This will let you know what needs to be improved and help you negotiate a lower price or even ask the owner to make the necessary repairs. “Home...

Midday Forex: Leu drops 0.34% against euro
6 Mai 2010
Yesterday, the central bank set a reference rate of 4.1352 lei/euro. The national currency had a weak start today, falling from 4.1490 to 4.1570 against euro, but rose to 4.1470 at noon. At 13:05, banks were trading a euro for 4.15 lei. In the...

First Microsoft-Nokia application available for Nokia E72 and E52
6 Mai 2010
This new unified communications client connects directly with a company’s communications systems to streamline mobile collaboration. Owners of a number of Symbian-based Nokia Eseries smartphones can download the English version from Nokia’s...

EC opens infringement procedures against Romania
6 Mai 2010
The Commission has sent Romania a first written warning for bad application of EU nature protection legislation in one of Europe's most important wetland areas. The case concerns a project to develop tourism facilities on the Black Sea coast, in...

Fairwind Securities launches margin lending product
6 Mai 2010
“We offer our clients the possibility to borrow money to invest in shares by using their share portfolio as security for the loan. The maximum amount to borrow is 50% of the client’s blue chip value in their open account at Fairwind...

Erste Bank: SIFs are unlikely to distribute dividends for 2010
6 Mai 2010
SIFs anticipate three times lower profit this year. However the 2010 budget figures demonstrate SIFs’ reliance on minority holdings in the two largest Romanian banks, BCR and BRD SocGen. “With lower dividends from bank holdings, the...

BSE stocks close sharply lower
6 Mai 2010
The total trade value at the equity market rose to 65.4 million lei(€15.8 million). BET index that gauges the performance of ten most actively traded stocks at BSE fell the most, by 5.26% to 5,131.72 points, while composite BET-C slumped 4.47% to...

Top 10 most expensive penthouse apartments
7 Mai 2010
Penthouse apartments are usually the last flats put up for sale in a development. Wall-Street lists the ten most expensive penthouse apartments in Bucharest that range from €300,000 to €3 million.

EC sees Romania 2010 budget gap at 8%
7 Mai 2010
The Commission notes that although much of the GDP decline associated with the economic and financial crisis is cyclical, it may also have negative consequences for potential growth over the medium term, notably through slower capital accumulation and...

Baumit opens dry mortar factory
7 Mai 2010
The investment in the production unit stood at €20 million. Baumit holds two other manufacturing facilities in Romania, in the outskirts of Bucharest, in Teius, Alba county. The building materials supplier recorded revenues of €43.1 million...

IMF staff prolongs visit to Romania
7 Mai 2010
“The fourth IMF review mission led by Jeffrey R. Franks, currently in Bucharest, will continue talks with Romanian authorities over the May 8-9 weekend. The mission will make public the conclusions of these talks at the end of the visit”,...

P&G Romania posts drop in 2009 profit
7 Mai 2010
Procter & Gamble Distribution reported net revenues of 1.18 billion lei (€279.9 million), pre-tax profit of 31 million lei (€7.32 million) and a net profit of 26.8 million lei (€6.33 million). Procter&Gamble Marketing, the...

Midday Forex: Leu plummets to four-month low
7 Mai 2010
The national currency slid today to the weakest level since January 5, 2010, when the central bank set a reference rate of 4.2077 lei/euro. The leu had a poor start, trading near 4.19 lei/euro in the morning, but rose afterwards to 4.1760units/euro....

VAT and single tax hike, the pallbearer of the real estate industry
7 Mai 2010
“Tax increase, and hence the drop in personal finance, will reduce household saving rate and the chances of getting a home loan accordingly. Also, for construction companies, the measure will lead to a cost increase and the offer in the...

Fitch: Romania could join euro area by 2015
7 Mai 2010
Fitch's latest forecast dates for euro adoption are: 2011 for Estonia; 2014 for Lithuania; 2015 for Bulgaria, Hungary, Latvia, Poland and Romania; and 2016 for the Czech Republic. However, Fitch notes that the risks are skewed towards longer...

SIFs finish down 2%
7 Mai 2010
The total trade at the equity market dropped to 36.49 million lei (€8.12 million). BET index of the ten most actively traded stocks at BSE edged down 0.02% to 5,130.67 points, while composite BET-C fell 0.02% to 3,101.54 points. BET-FI index of...

Petrom’s Q1 profit jumps 60%
10 Mai 2010
Q1/10 results supported by favorable oil price environment and optimized cost management: as the Urals crude price rose by 72% over the same period of last year. Economic downturn reflected in the company’s operational results, as hydrocarbon...

Top 10 countries with the highest default risk
10 Mai 2010
The list of countries with the highest default risk changed in the last month, with some euro countries joining the top.

Romania misses EU grant opportunities amid recession
10 Mai 2010
Romania and the CEE countries have suffered a significant reduction in foreign investment since the start of the recession, as investors have moved away from emerging markets in a search for security. In these circumstances, it is even more important...

EP calls on Romania and Bulgaria to better manage EU funding
10 Mai 2010
In 2008, in Romania and Bulgaria the estimated amount affected by irregularities increased by 152% and the amounts recovered were 15.6% down on 2007, while in the other central-European countries that joined EU in 2004, the amount affected by...

ING considers revising growth outlook
10 Mai 2010
“Short term prospects are poor, and when further details on the austerity plans are released, we will probably revise our 0.9% economic growth forecast for end of the year”, ING said. President Traian Basescu said yesterday the Government...

Friesland Campina names new chief executive
10 Mai 2010
Ian Gearing served as chief executive for five years at Friesland Foods Malaysia and for other five years in Friesland Thailand. The new CEO will be based in Cluj-Napoca at the head office of the company, and will report to Konstantine Maggioros...

Midday Forex: Leu at fresh 4-month low
10 Mai 2010
On Thursday, the central bank set a reference rate of 4.1833 lei/euro. NBR hasn’t set such a high EUR/RON rate since January 5, 2010. In the overnight trade, the leu was hovering near 4.22 lei/euro, but fell to 4.1770 in the morning. At 13:10, a...

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