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2004 Archive:
 
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March, 2004
March 01, 2004
March 02, 2004
March 03, 2004
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March 05, 2004
March 08, 2004
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March 10, 2004
March 11, 2004
March 12, 2004
March 15, 2004
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March 29, 2004
March 30, 2004
March 31, 2004



      March 31, 2004


  FIC
Foreign investors, Romanian authorities discuss business environment
  Financial News
Bank Austria Creditanstalt is interested in BCR shares
Omniasig paid EUR 1.3 million for 40 per cent of AGI
CFR Calatori signed a deal with Hewlett Packard
Heidi revenues increased by 80 per cent in February
  Macroeconomic News
The Government reduced the number of monitored companies
UK suspended visas for Romanian and Bulgarian citizens
National Agency for Mineral Resources sent EUR 160 million to the state budget
Financial aid for decreasing risks in natural disasters
Public investment accounted for 40 per cent of the overall investment of the past two years
  Investment News
RCA will launch an investment fund this year
Michelin Romania will invest EUR 25 million to extend business
Fornetti estimates EUR 8.7 million turnover for 2004
Siemens Business Services and SAP expand their market partnership in Romania
Daewoo Mangalia signed an USD 200 million deal with Gebab
23 per cent of Romanian companies are not interested in the Internet
  Legislative News
Deputies Chamber passed the new Criminal Code
Competition Council to advise agreements between companies
Senate legal panel passes bill on collective bargaining
  Politics
Project on the " Tinutul Secuiesc '' was rejected by the Chamber of Deputies
Valeriu Stoica supports a merger between PD and PNL

   FIC

   

ISSUE

Foreign investors, Romanian authorities discuss business environment

Representatives of foreign investors and Romanian authorities met at the sixth edition of the business round table organized by the Economist Conferences, a division of The Economist Group. The top issues discussed were the Government's willingness to implement reforms and the improvement of the business environment and legislative system. These issues are long standing grievances of foreign investors, as noted by the White Book released last year by the Foreign Investors Council. (Romanian source)

NEWSPAPER

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ADEVARUL ECONOMIC

Coralia Popescu 

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2007 remains a credible date for Romania's adhesion to EU


   Financial News

   Bank Austria Creditanstalt is interested in BCR shares

    Bank Austria Creditanstalt confirmed its interest in acquiring the 25 percent stake in the Romanian Commercial Bank (BCR), a few days after the announcement concerning the continuation of this bank's privatization. Another 8 percent stake in this bank will be sold to employees for the price of ROL 10.350 per share. (English source)

   (NINE O CLOCK 5 Bogdan Barligea)  Read article here

   Omniasig paid EUR 1.3 million for 40 per cent of AGI

    Omniasig, the third largest company on Romania's general insurances market, purchased 40 per cent of the shares of insurer AGI during the public sale offer conducted on the Rasdaq electronic trading market. AGI sold 77.2 per cent of its share capital at ROL 135,000 per share. (Romanian source)

   (ZIARUL FINANCIAR 3 Sorin Paslaru)  Read article here

   CFR Calatori signed a deal with Hewlett Packard

    Hewlett Packard Romania will manage the expansion of the tickets sales and reservation system for CFR Calatori as part of an EUR 22 million project that will last two years. The contract was signed yesterday, March 30, by representatives of the two companies. (Romanian source)

   (ZIARUL FINANCIAR 3 )  Read article here

   Heidi revenues increased by 80 per cent in February

    This month's sales of chocolate producer Heidi Chocolates Suisse Romania increased by 80 per cent compared to the similar period of the year 2003. The Heidi brand is a super premium brand and its main competitor is the Milka brand, which is produced by Kraft Romania. (English source)


   (ZIARUL FINANCIAR 10 )  Read article here

   Macroeconomic News

   The Government reduced the number of monitored companies

    The Government decided to remove 14 companies from the list of companies monitored by the state, in order to meet requirements of the memorandum signed with international financial institutions. Harbor administration authorities from Giurgiu and Galati, Romtehnica, Rasirom and Romavia. (English source).

   (NINE O CLOCK 5 )  Read article here

   UK suspended visas for Romanian and Bulgarian citizens

    British Internal Affairs Minister David Blunkett announced yesterday, March 30, before the House of Commons the suspension of all types of visas for Romanian and Bulgarian citizens. Romanian authorities voiced their worry and surprise toward this decision, which is seen as being " exaggerated and unfair ''. (Romanian source)

   (ZIARUL FINANCIAR 9 Adelina Radulescu)  Read article here
   (ZIARUL FINANCIAR 1 Adelina Radulescu)  Read article here

   National Agency for Mineral Resources sent EUR 160 million to the state budget

    The National Agency for Mineral Resources announced that the volume of royalties paid to the state budget by companies operating in the exploitation of mineral resources amounted to EUR 160 million last year. Approximately 80 per cent of this sum was paid by companies from the oil and natural gas industry. (Romanian source)

   (ZIARUL FINANCIAR 1 Adrian Marsanu) Read article here

   Financial aid for decreasing risks in natural disasters

    The Romanian Government obtained from the World Bank an USD 150 million aid package for financing the project aimed at reducing risks in case of natural disasters and emergency readiness. The National Agency for Natural Resources (ANRM) will manage the implementation of this project around the Tisa river course. (Romanian source)

   (BURSA 4 A.T.) Read article here

   Public investment accounted for 40 per cent of the overall investment of the past two years

    The volume of public investment conducted over the past two years amounted to EUR 5 billion, which accounts for 40 per cent of the overall EUR 12.9 billion invested in Romania during this period. The biggest state-owned investor is the National Administration of Roads (EUR 410 million), followed by the Bucharest authorities, RATB, RADET and Metrorex SA. (Romanian source)

   (BURSA 1 Oleg Cojocaru) Read article here

   Investment News

   RCA will launch an investment fund this year

    Romanian Capital Advisors, the company managing the Romanian American Enterprise Investment Fund (RAEF), intends to launch a new investment fund for Romania and Bulgaria this year. The new fund's capitalization will amount to USD 50 million and will mainly target private equity strategies. (Romanian source)

   (ZIARUL FINANCIAR 3 laurentiu Ispir) Read article here
   (ZIARUL FINANCIAR 1 laurentiu Ispir) Read article here

   Michelin Romania will invest EUR 25 million to extend business

    Michelin Romania announced it will invest approximately EUR 25 million, this year, in restructuring its two production facilities from Romania and building a metallic tire parts plant in Salaj county. The new plant will become operational at the end of the year, but the project will be finalized in 2007. (English source)

   (NINE O CLOCK 8)  Read article here

   Fornetti estimates EUR 8.7 million turnover for 2004

    Pastry maker Fornetti estimates it would obtain this year a turnover of EUR 8.7 million from the sale of pastry products through its network of 268 stores. The increased demand prompted the company to invest in a second production unit which will open soon in the Timis County. (Romanian source)

   (ZIARUL FINANCIAR 10 Stelian Negrea)  Read article here

   Siemens Business Services and SAP expand their market partnership in Romania

    Siemens Business Services and SAP decided to expand their partnership in Romania by forming a strategic cooperation at the public administration sector level. The solutions offered by the two companies will help public administration institutions increase their efficiency and improve their decision-making processes. (Romanian source)

   (BURSA 4 Ancuta Stanciu)  Read article here

   Daewoo Mangalia signed an USD 200 million deal with Gebab

    Naval yard Daewoo Mangalia Heavy Industries signed an USD 200 million deal with German shipping company Gebab for building four port-containers. The ships have a 4,550 TEU capacity and will be completed and delivered by July 2007. (Romanian source)

   (CURENTUL 7 )  Read article here

   23 per cent of Romanian companies are not interested in the Internet

    Managers of the ClubAfaceri portal conducted an on-line poll in order to assess the penetration rate of the Internet in the Romanian business environment. The poll showed that 66 per cent of Romanian companies have their own web site, while 23 per cent of companies are not interested in spending money on Internet related issues unless strictly necessary. (Romanian source)

   (CURENTUL 7 Iulian Enache)  Read article here

   Legislative News

   Deputies Chamber passed the new Criminal Code

    The Deputies Chamber yesterday, March 30, passed the Criminal Code with 214 votes " for '', 28 abstentions, and 1 vote " against ''. The draft has been under debate at the Deputies Chamber for two weeks, because parties of the Opposition protested against the PSD's decision to maintain criminal offense status for calumny. (English source)

   (NINE O CLOCK 3 Carmen Dinu)  Read article here

   Competition Council to advise agreements between companies

    The Deputies Chamber yesterday passed the bill that amends and changes certain stipulations of the Competition Law, changes proposed by the Chamber's Commission for Industries. The bill includes provisions that enables the Competition Council to advise agreements between companies, that make exception from the general rule of competition. (English source)

   (NINE O CLOCK 6 Gabriela Folcun)  Read article here

   Senate legal panel passes bill on collective bargaining

    The legal panel of the Senate passed the Emergency Act for amending the Law 130/1996 on collective bargaining which removes the obligation of having a collective labor contract signed by all employees. The new regulations stipulate that two third of employees are enough to validate the contract. (Romanian source)

   (CURIERUL NATIONAL 3 F.R.)  Read article here

   Politics

   Project on the " Tinutul Secuiesc '' was rejected by the Chamber of Deputies

    The project on the autonomous status of the area called the " Tinutul Secuiesc '' was rejected yesterday, March 30, by the Chamber of Deputies. UDMR MPs voted in favor of this project although they did not number among its initial supporters. (Romanian source)

   (CURENTUL 2 Cristina Falghel)  Read article here

   Valeriu Stoica supports a merger between PD and PNL

    Former president of the National Liberal Party Valeriu Stoica stated during an interview that the PNL and the Democrat Party (PD) should merge after this year's elections. Stoica added that the two parties made a mistake in deciding not to go for joint lists of candidates in all towns. (Romanian source)

   (CURENTUL 1 ) Read article here
   (CURENTUL 4 ) Read article here
   
   
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