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      March 30, 2007


  FIC
No news for today
  Financial News
Italo-Romena seeks to grant 120 million-euro funding
Transilvania Bank owns 7.96% of SIF Banat-Crisana
Raiffeisen Bank to implement a channel of direct sales for SMEs in Cluj region
Volksbank's social capital to reach RON 341.1 million
  Macroeconomic News
BCR bonds trade began
NBR may raise interest rates in 2007
   Investment News
EUR 113 million investment projects for Theodor Pallady Blvd., on the exit from Bucharest
Paralela 45 to invest some EUR 12 million in hotel projects
Carrefour invests in new shops on domestic market
Diverta to invest three million euros in nation-wide branching out
Kaufland invests in new HQ, in Bucharest
  Legislative News
Government decided to annul some stipulations of GE No.806/2005 on CEC's Privatization Strategy
  Politics
DP's Secretaries of State handed in their blank resignations
Adriana Saftoiu confirmed having handed in her resignation from the seat of Presidential Councilor

   Financial News

  Italo-Romena seeks to grant 120 million-euro funding

   Italo-Romena Leasing intends to finance goods worth 120 million euros this year and targets a net income worth 2.8 million euros, according to Athos Varusio, General Manager with Banca Italo Romena. Car leasing and industrial equipment leasing account for 40% in the portfolio of Italo Romena Leasing each, while real estate leasing accounts for just 20%. In 2006, Banca Italo Romena's assets totalled 504 million euros and had an income worth 9 million euros. The banking institution has around 20,000 clients, only 7,000 of which are corporate customers. (English Source)
   (ZIARUL FINANCIAR 22 Lavinia Marin) --- Read article here

 Transilvania Bank owns 7.96% of SIF Banat-Crisana

   Transilvania Bank SA, together with the persons involved, owns 7.96% of SIF Banat-Crisana (SIF1). Transilvania Bank announced that it owns only 0.38% of SIF Oltenia (SIF 5) and 0.82% of SIF Moldova (SIF2). The company did not make public the names of the persons who are its partners. (Romanian Source)
   (BURSA 3 (N I )) --- Read article here

 Raiffeisen Bank to implement a channel of direct sales for SMEs in Cluj region

   In the middle of this year, Raiffeisen Bank is intending to implement a channel of direct sales for SMEs in Cluj region, after having launched this type of sale for the bank products for natural persons, last year. The officials of the bank are estimating that, during the second half of the year, the sale of the products for SMEs will record a double or even triple volume. This year also, the banks projects for Cluj region are also stipulating the opening of three new branches in Cluj-Napoca and one in Turda. (Romanian Source)
    (ZIARUL FINANCIAR 6 A NCA RlF - ZF TRANSILVANIA CLUJ) --- Read article here

 Volksbank's social capital to reach RON 341.1 million

   Volksbank performed RON 112 million social capital increase (Euro 33.2 million), this going to reach RON 341.1 million (Euro 101 million). The trade will be performed by issuing 1.12 billion shares, with RON 0.1 nominal value per share. The main shareholder of the bank, the Austrian group Volksbank International, will increase, this way, its shares with the local subsidiary to 98.95%. Volksbank has immediately reacted at NBR decision of removing the crediting restrictions for the natural persons, developing new products, submitting these to be approved by the monetary authority. (Romanian Source)
    (ZIARUL FINANCIAR 6 LIVIU CHIRU) --- Read article here

   Macroeconomic News

  BCR bonds trade began


  BCR's Deputy CEO, Dan Bunea, opened, on Thursday, the BSE trading session, on the occasion of floating BCR's bonds. Last year, the bank made RON 242.8 million from the IPO for bonds and issued 2,428,278 titles. The BCR bonds were floated in the " credit titles '' segment, under the 2nd category of corporate bonds, under the BCR09 symbol. (Romanian Source)

   (BURSA 3 Adina Ardeleanu) --- Read article here

 NBR may raise interest rates in 2007


   NBR managed to keep a balance between the various macroeconomic problems. Still, NBR may have to raise interest rates in 2007, especially since all of the expenses stipulated in the budget are put into practice, say analysts with Moody's. The central bank is in a very tight spot, as result of a combination o factors such as the persistent inflation, the rapid growth of loans, the appreciation of the national currency and the expansive fiscal policy. (Romanian Source)

   (ADEVARUL 18 ) --- Read article here

   Investment News

  EUR 113 million investment projects for Theodor Pallady Blvd., on the exit from Bucharest


   Real and Carrefour retailers are going to open, in the autumn of 2007 and, respectively, in the summer of 2008, hypermarkets located on Theodor Pallady Blvd. The two commercial centers will be located only a couple of hundred meters away from one another. Stefan Dumitrascu, Chief-Architect with Sector 3 City Hall, said that a Mega Image supermarket is also going to be built in this area. The commercial, real estate and hotel projects to be completed within 1 and a half years on Theodor Pallady Blvd., on the exit from Bucharest to Constanta, stand at a total of EUR 113 million. (Romanian Source)

   (CURIERUL NATIONAL 24 Simona Macovei) --- Read article here

 Paralela 45 to invest some EUR 12 million in hotel projects


   Paralela 45 is going to invest some EUR 12 million over the next 3 years in accommodation spaces in Bucharest, Predeal, Neptun and Snagov. The biggest project of the company is a 40star hotel to be built in Bucharest, on Barbu Vacarescu Blvd., the total investment being estimated at EUR 6-7 million. A project scheduled for 2009 targets at building a 40-roomed hotel in Predeal, for which about EUR 2 million are to be allotted. (Romanian Source)

  (ZIARUL FINANCIAR 3 Roxana Dumtov Rosu) --- Read article here

 Carrefour invests in new shops on domestic market


   Carrefour speeds up the pace of opening new shops on the domestic market and announces a double number of units by the end of 2008, through investments standing at about EUR 180 million. Thus, 2008 will the most dynamic year for the retailer on the Romanian market, Carrefour is going to open a hypermarket in Vitan district of Bucharest, near the home improvement center Praktiker. Carrefour targets the Capital for other hypermarket as well, a new outlet being scheduled to be opened this summer, on the former location of Univers'All. Furthermore, the French retailer may open a shop in eastern Bucharest next year, on Theodor Pallady Blvd. (Romanian Source)

  (ZIARUL FINANCIAR 1 MlHAELA POPESCU) --- Read article here

 Diverta to invest three million euros in nation-wide braching out


   Diverta will invest three million euros this year to develop its network at national level. The company informs in a release that the stores will be located in malls and stores in Pitesti, Constanta, Cluj, Alba lulia, Baia Mare, Buzau, Pitesti and Petrosani cities. The company estimates a 45 million euro turnover in 2007, up 18% against the previous year. (English Source)

  (ECONOMISTUL 9 ) --- Read article here

 Kaufland invests in new HQ, in Bucharest


   Discount hypermarket network Kaufland is investing 10 million euros in building a new, company-owned headquarters. The building is located close to the Kaufland store in the Floreasca district (Bucharest) and will be operational in around three months' time. Kaufland has recently reached total investments worth nearly 300 million euros on the Romanian market and has a 22-store network. (English Source)

  (ZIARUL FINANCIAR 22 ) --- Read article here

   Legislative News

  Government decided to annul some stipulations of GE No.806/2005 on CEC's Privatization Strategy

  On Thursday, March 29, 2007, the Government decided to annul some stipulations of HG no 806/2005 regarding CEC Privatization Strategy, as these could no longer be applied in the conditions in which the privatization process of the bank was interrupted. In the end of the last year, the Romanian authorities decided to stop CEC privatization process, after OTP Bank, one of the two finalists, left the competition, and National Bank of Greece submitted an offer amounting only Euro 560 million for 69.9% of the bank'd shares. (Romanian Source)
  (BURSA 11 ) --- Read article here

   Politics

  DP's Secretaries of State handed in their blank resignations

  All of DP's 19 Secretaries of State and dignitaries who have seats assimilated to them in all governmental structures handed in their blank resignations, on Thursday. " I asked for the resignations of all Secretaries of State and those assimilated to them because we want to prove that we are a serious party and to help Calin Popescu Tariceanu, in the case in which he draws up a Government without DP, to proceed as fast as possible to the new governing program '', said Adriean Videanu. (Romanian Source)
  (ZIARUL FINANCIAR 21 ) --- Read article here

 Adriana Saftoiu confirmed having handed in her resignation from the seat of Presidential Councilor

  Adriana Saftoiu confirmed having handed in her resignation from the seat of Presidential Councilor with Traian Basescu on Thursday, March 19, mentioning that the reasons for her resignation are personal. Adriana Saftoiu's resignation comes after a long line of speculations regarding misunderstandings with President Traian Basescu, caused mainly by the public statements of former State Councilor Elena Udrea. " I see in Traian Basescu the same person. I have the same trust in Traian Basescu and his projects '', added Saftoiu, recognizing that 10 years of cooperation with a political figure may cause an " erosion ''. (Romanian Source)
  (ZIARUL FINANCIAR 21 DOINA ANGHEL) --- Read article here
   
   
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